Lessees Right to Review Supporting Data. (a) Exercise of Right by Lessee. Provided that Lessee is not in --------------------------- default under this Lease and provided further that Lessee strictly complies with the provisions of this Section, Lessee shall have the right to reasonably review supporting data for any portion of a Lessor's statement that Lessee claims is incorrect. In order for Lessee to exercise its right under this Section, Lessee shall, within thirty (30) days after any such Lessor's statement is sent, deliver a written notice to Lessor specifying the portions of the Lessor's statement that are claimed to be incorrect, and Lessee shall simultaneously pay to Lessor all amounts due from Lessee to Lessor as specified in the Lessor's statement. Except as expressly set forth in subparagraph (c) below, in no event shall Lessee be entitled to withhold, deduct, or offset any monetary obligation of Lessee to Lessor under the Lease including, without limitation, Lessee's obligation to make all Base Rent payments and all payments for Additional Rent pending the completion of, and regardless of the results of, any review under this Section. The right to review granted to Lessee under this Section may only be exercised once for any Lessor's statement, and if Lessee fails to meet any of the above conditions as a prerequisite to the exercise of such right, the right of Lessee under this Section for a particular Lessor's statement shall be deemed waived.
Appears in 2 contracts
Sources: Triple Net Building Lease (At Home Corp), Triple Net Building Lease (At Home Corp)
Lessees Right to Review Supporting Data. (a) Exercise of Right by LesseeEXERCISE OF RIGHT BY LESSEE. Provided that Lessee is not in --------------------------- default under this Lease and provided further that Lessee strictly complies with the provisions of this Section, Lessee Lessee, or its legal counsel and public accounting firm, shall have the right upon reasonable notice and at reasonable times to audit all books and records of Lessor used in calculating Operating Expenses, Common Area charges, taxes and other Additional Rent hereunder. Lessor will cooperate reasonably review supporting data for any portion of a Lessor's statement that with Lessee claims is incorrectin such audit on the terms and conditions set forth below. In order for Lessee to exercise its right under this Section, Lessee shall, within thirty (30) days after any such Lessor's statement is sentStatement, deliver a written notice to Lessor specifying the portions of the exercising its rights hereunder with regard to such Lessor's statement that are claimed to be incorrectStatement, and Lessee shall simultaneously pay to Lessor all amounts due from Lessee to Lessor as specified in the Lessor's statementStatement. Except as expressly set forth in subparagraph (c) below, in no event shall Lessee be entitled to withhold, deduct, or offset any monetary obligation of Lessee to Lessor under the Lease including, without limitation, Lessee's obligation to make all Base Rent payments and all payments for Additional Rent pending the completion of, and regardless of the results of, any review under this SectionSection 4.08. The right to review granted to Lessee under this Section 4.08 may only be exercised once for any Lessor's statementStatement, and if Lessee fails to meet any of the above conditions as a prerequisite to the exercise of such right, the right of Lessee under this Section 4.08 for a particular Lessor's statement Statement shall be deemed waived.
Appears in 1 contract
Sources: Triple Net Space Lease (Arqule Inc)