Common use of City’s Right to Audit Developer’s Books and Records Clause in Contracts

City’s Right to Audit Developer’s Books and Records. The Developer agrees that the City or its agents shall have the right and authority to review and audit, from time to time (at the Developer’s principal office during normal business hours) the Developer’s books and records relating to the total amount of all costs paid or incurred by the Developer for the Private Redevelopment Project and the total amount of related Eligible Redevelopment Project Costs, including, if any, loan agreements, notes or other obligations in connection with any indebtedness of the Developer directly related to such costs paid or incurred by the Developer for the Private Redevelopment Project in order to confirm that any such Eligible Redevelopment Project Costs claimed to have been paid and incurred by the Developer were directly related and allocable to the costs of the Private Redevelopment Project that was financed by the Developer and in fact paid and incurred by the Developer.

City’s Right to Audit Developer’s Books and Records. The Developer agrees that the City or its agents shall have the right and authority to review and audit, from time to time (at the Developer’s principal office during normal business hours) the Developer’s books and records relating to the total amount of all costs paid or incurred by the Developer for the Private Redevelopment Development Project and the total amount of related Eligible Redevelopment Project Costs, including, if any, loan agreements, notes or other obligations in connection with any indebtedness of the Developer directly related to such costs paid or incurred by the Developer for the Private Redevelopment Development Project in order to confirm that any such Eligible Redevelopment Project Costs claimed to have been paid and incurred by the Developer were directly related and allocable to the costs of the Private Redevelopment Development Project that was financed by the Developer and in fact paid and incurred by the Developer.