Common use of Tenant's Audit of Taxes and Operating Costs Clause in Contracts

Tenant's Audit of Taxes and Operating Costs. Upon Tenant's written request in each instance, Landlord will furnish Tenant reasonable backup information for its itemized statements. During the Lease term (and after the Lease term, but within ninety (90) days after Landlord's last invoice to Tenant), and upon at least fourteen (14) days' prior written notice to Landlord, not more than once in each calendar year Tenant may audit Landlord's records of Taxes and Operating Costs for the prior calendar year in order to verify the accuracy of the Taxes and Operating Costs charged to Tenant. Such audit will be conducted only during regular business hours where Landlord maintains its records (which Landlord agrees will be in Massachusetts or California) and Tenant will deliver a copy of the results of the audit to Landlord within fifteen (15) days after receipt by Tenant. All audits will be conducted at Tenant's cost and expense and no subtenant will have the right to conduct an audit, and no assignee will have the right to conduct an audit for any period when the assignee was not in possession of the Premises.