Common use of Inspection, Audit and Reporting Requirements Clause in Contracts

Inspection, Audit and Reporting Requirements. (i) In the event that Tenant elects to undertake the Redevelopment, then Landlord shall have the right to engage a construction consultant (the “Construction Consultant”) at Landlord’s sole cost and expense. Tenant shall reasonably cooperate to permit representatives of Landlord and the Construction Consultant, at reasonable times and on reasonable advance notice, to examine Tenant’s books of record and account, to make copies and abstracts therefrom, and to discuss its affairs, finances and accounts with its principal officers, engineers and independent accountants, in each case in connection with the Redevelopment (and by this provision Tenant authorizes said accountants to discuss with such Persons such affairs, finances and accounts, but after prior notice to Tenant of such discussions). Without limiting the foregoing, representatives of the Construction Consultant and Landlord shall have the right at reasonable times and on reasonable advance notice to (a) inspect the Property and all materials to be used in connection with the Redevelopment from time to time and to witness the construction of the Improvements to ensure compliance with the Redevelopment Plans, (b) to conduct such environmental and engineering inspections and studies as Landlord may reasonably require, (c) to examine all detailed plans, shop drawings and change orders in connection with the Redevelopment, and (d) meet with the representatives of any Development Professionals to discuss the status of and issues relating to the Redevelopment (and by this provision Tenant authorizes the Development Professionals to cooperate and discuss with such Persons such construction matters, but after reasonable prior notice to Tenant of such discussions). Upon request, Tenant will furnish Landlord with any items in the possession of, under the control of, or reasonably obtainable by, Tenant, that Landlord or the Construction Consultant may consider reasonably necessary or useful in connection with the performance of any inspection of the Improvements. Without limiting the generality of the foregoing, Tenant shall furnish or cause to be furnished such items as working details, licenses, permits, approvals, certificates of public authorities, zoning ordinances, building codes and copies of the contracts to which Tenant is a party (if applicable). (ii) Following the date on which construction otherwise commences, Tenant shall provide to Landlord a quarterly reporting package with respect to the ongoing work and construction at the Property in form and substance reasonably agreed upon by the Parties.

Inspection, Audit and Reporting Requirements. (i) In the event that Tenant elects to undertake the Redevelopment, then Landlord shall have the right to engage a construction consultant (the “Construction Consultant”) at Landlord’s sole cost and expense. Further, in the event that Tenant elects to undertake the Redevelopment, Tenant shall reasonably cooperate to permit representatives of Landlord and the Construction Consultant, at reasonable times and on reasonable advance notice, to examine Tenant’s books of record and account, to make copies and abstracts therefrom, and to discuss its affairs, finances and accounts with its principal officers, engineers and independent accountants, in each case solely in connection with the Redevelopment (and by this provision Tenant authorizes said accountants to discuss with such Persons such affairs, finances and accounts, but after prior notice to Tenant of such discussions). Without limiting the foregoing, representatives of the Construction Consultant and Landlord shall have the right at reasonable times and on reasonable advance notice to (a) inspect the Property and all materials to be used in connection with the Redevelopment from time to time and to witness the construction of the Improvements to ensure compliance with the Redevelopment Plans, (b) to conduct such environmental and engineering inspections and studies as Landlord may reasonably require, (c) to examine all detailed plans, shop drawings and change orders in connection with the Redevelopment, and (d) meet with the representatives of any Development Professionals to discuss the status of and issues relating to the Redevelopment (and by this provision Tenant authorizes the Development Professionals to cooperate and discuss with such Persons such construction matters, but after reasonable prior notice to Tenant of such discussions). Upon request, Tenant will furnish Landlord with any items in the possession of, under the control of, or reasonably obtainable by, Tenant, that Landlord or the Construction Consultant may consider reasonably necessary or useful in connection with the performance of any inspection of the Improvements. Without limiting the generality of the foregoing, Tenant shall furnish or cause to be furnished such items as working details, licenses, permits, approvals, certificates of public authorities, zoning ordinances, building codes and copies of the contracts to which Tenant is a party (if applicable). (ii) Following the date on which construction otherwise commences, Tenant shall provide to Landlord a quarterly reporting package with respect to the ongoing work and construction at the Property in form and substance reasonably agreed upon by the Parties.