Common use of Subsequent Adjustment Clause in Contracts

Subsequent Adjustment. Notwithstanding anything to the contrary contained in the foregoing, the parties acknowledge that the $2,800,000 Renovation Cost set forth above is an estimate as of the date hereof and will be subject to subsequent adjustment based upon a final accounting of the Renovation Cost to be made by Owner, Hotel Manager and Food Manager. When the Renovation Cost is finally determined as aforesaid, Food Manager and Owner will each contribute their proportionate share (10% and 90%, respectively) of such cost in excess of $2,800,000, whereupon the Renovation Cost, the Annual Renovation Amortization, and Food Manager's and Owner's proportionate shares thereof will be appropriately adjusted to reflect the actual total cost of the Renovation.