Common use of Records and Adjustments Clause in Contracts

Records and Adjustments. Each written statement of actual costs ----------------------- given by Landlord to Tenant pursuant to Section 10(d) shall be conclusive and binding upon Tenant unless within ninety (90) days after the receipt of such statement Tenant shall notify Landlord in writing that it disputes the correctness of the statement, specifying the particular respects in which the statement is claimed to be incorrect. If such disputes shall not have been settled by agreement, Tenant, within thirty (30) days of receipt of such statement, shall pay Additional Rent in accordance with the statement, without prejudice to Tenant's favor. If the dispute shall be determined in Tenant's favor, Landlord shall forthwith pay to Tenant the amount of Tenant's overpayment of rents resulting from compliance with the statement. Tenant may, within ninety (90) days after the receipt of such statements, upon thirty (30) days prior notice to Landlord, cause a complete audit to be made of Landlord's records regarding Operating Costs for the prior Year. If the audit discloses that Operating Costs have been over-reported to the extent of five percent (5%) or more on an annual basis for such Year, Landlord shall pay the reasonable costs of the audit and actual Operating Costs for that Year shall be adjusted accordingly.

Records and Adjustments. Each written statement of actual costs ----------------------- given by Landlord to Tenant pursuant to Section 10(d) shall be conclusive and binding upon Tenant unless within ninety six (906) days months after the receipt of such statement Tenant shall notify Landlord in writing that it disputes the correctness of questions charges under the statement, specifying the particular respects in which the statement is claimed to be incorrectquestioned. If such disputes shall not have been settled by agreement, Tenant, within thirty (30) days of receipt of such statement, shall pay Additional Rent in accordance with the statement, without prejudice to Tenant's favor. If the dispute shall be determined in Tenant's favor, Landlord shall forthwith pay to Tenant the amount of Tenant's overpayment of rents resulting from compliance with the statement. Tenant may, within ninety six (906) days months after the receipt of such statements, upon thirty (30) days prior notice to Landlord, cause a complete audit to be made of Landlord's records regarding Operating Costs for the prior Year. If the audit discloses that Operating Costs have been over-reported to the extent of five percent (5%) or more on an annual basis for such Year, then (i) Landlord shall pay the reasonable costs of the audit and actual Operating Costs for that Year shall be adjusted accordinglyaccordingly and (ii) Tenant shall be entitled to audit the three (3) years prior to the year for which the adjustment is made to determine whether a similar adjustment is applicable to such prior years (in which case such prior years shall be similarly adjusted).