NYC 9/11 Public Portal Document
chief executive, chief operating, or chief financial officer of Landlord that avers that there is
complete and accurate documentation in Landlord’s files to support each and every charge
included in Base Year Operating Expenses.
Landlord must have supporting documents for each and every Base Year Operating
Expense or it will be disallowed.
Such schedule of Base Year Operating Expenses must be accompanied by a repon of
Landlord's Certified Public Accountant, which report must be based upon an audit conducted in
accordance with generally accepted auditing standards and state whether the schedules of Base
Year Operating Expenses present fairly the Base Year Operating Expenses of Landlord , as
defined in the Lease. Tenant approves the format of Exhibit B hereto and agrees that said Exhibit
B meets the requirements of the preceding sentence.
If Landlord fails to furnish any statements under this Article relating to Base Year
Operating Expenses or Operating Expense Escalations under A.2. below within 180 days after the
date due. Tenant may, upon thirty (30) days’ written notice, withhold all additional rent due and
owing to Landlord for Operating Expense Escalations under A.2, below, until Landlord furnishes
the foregoing statements. Tenant's liability for Operating Expense Escalations due pursuant to
this Article and/or Landlord's liability for refunding any overpayment shall survive the expiration
of the Term hereof.
Pending any audit by the Tenant or Comptroller of the Operating Expense Base Year,
Tenant shall pay Operating Expense Escalations pursuant to the foregoing provisions hereof for
such year as billed by Landlord, provided, however, that Tenant shall have the right to withhold a
disputed amount on account of Operating Expense Escalations until the dispute in question is
resolved; and upon completion of such audit Tenant shall be allowed to deduct immediately
overcharges detected upon audit from any installment of rent then becoming due , or if at the end
of the Lease term Tenant shall be entitled to a payment from Landlord for such amounts within
thirty (30) days of Lease termination or expiration.
Tenant shall have the right to copy, examine and audit Landlord's Base Year Operating
Statement.
A.2 LANDLORD’S STATEMENT OF OPERATING EXPENSE
ESCALATIONS
Consiuner Price Index Adjustments
1. Definitions
1.1 “Price Index” shall mean “The Consumer Price Index for U.S. City Average-
All Urban Consumers (1982-84 equals 1(X)), issued by the Bureau of Labor Statistics of the
United States Department of Labor.
F:\CR\LHC\ 4219.1016\NEWLSE.FNL 8
NYC-WTC_000166938
OCR can misread numbers and units. Confirm readings against the page image before using them.