Common use of Accounting, Distributions and Annual Reconciliation Clause in Contracts

Accounting, Distributions and Annual Reconciliation. A. Within ten (10) days after the close of each Accounting Period, Lessee shall deliver to Lessor a statement of Gross Revenues for the immediately preceding Accounting Period and for the fiscal quarter and Fiscal Year to date, all certified by the Lessee’s chief financial officer to be true and correct. Within twenty (20) days after the close of each Accounting Period, Lessee shall deliver to Lessor (i) an interim profit and loss statement, (ii) a balance sheet showing the results of the operation of the Leased Property, and (iii) a cash flow statement, all certified by the Lessee’s chief financial officer to be true and correct (an “Accounting Period Statement”). Within sixty (60) days after the close of each quarter of each Fiscal Year, Lessee shall deliver, or cause to be delivered, to Lessor (i) certified Financial Statements of Lessee’s Parent and (ii) an organizational chart accurately presenting the ownership of the ownership interests in Lessee. B. Calculations and payments made with respect to each Accounting Period within a Fiscal Year shall be accounted for cumulatively. Within one hundred twenty (120) days after the end of each Fiscal Year, Lessee shall deliver to Lessor audited Financial Statements in reasonable detail summarizing the operations of the Cypress Premises for the immediately preceding Fiscal Year and a certificate of Lessee’s chief accounting officer, or equivalent, certifying that, to the best of his or her knowledge, such Financial Statements are true and correct. The parties shall, within ten (10) Business Days after Lessor’s receipt of such Financial Statements, make any adjustments, by cash payment, in the amounts paid or retained for such Fiscal Year as are needed because of the final figures set forth in such Financial Statements. Such Financial Statements shall be controlling over the preceding Accounting Period profit and loss statements.

Accounting, Distributions and Annual Reconciliation. A. Within ten (10) days after the close of each Accounting Period, Lessee Tenant shall deliver to Lessor Landlord a statement of Gross Revenues for the immediately preceding Accounting Period and for the fiscal quarter and Fiscal Year to date, all certified by the LesseeTenant’s chief financial officer to be true and correct. Within twenty (20) days after the close of each Accounting Period, Lessee Tenant shall deliver to Lessor Landlord (i) an interim profit and loss statement, (ii) a balance sheet showing the results of the operation of the Leased Property, and (iii) a cash flow statement, all certified by the LesseeTenant’s chief financial officer to be true and correct (an “Accounting Period Statement”)correct. Within sixty (60) days after the close of each quarter of each Fiscal Year, Lessee Tenant shall deliver, or cause to be delivered, to Lessor Landlord (i) certified Financial Statements of LesseeTenant’s Parent and (ii) an organizational chart accurately presenting the ownership of the ownership interests in LesseeTenant. B. Calculations and payments made with respect to each Accounting Period within a Fiscal Year shall be accounted for cumulatively. Within one hundred twenty (120) days after the end of each Fiscal Year, Lessee Tenant shall deliver to Lessor Landlord audited Financial Statements in reasonable detail summarizing the operations of the Cypress Premises for the immediately preceding Fiscal Year and a certificate of LesseeTenant’s chief accounting officer, or equivalent, certifying that, to the best of his or her knowledge, such Financial Statements are true and correct. The parties shall, within ten (10) Business Days after LessorLandlord’s receipt of such Financial Statements, make any adjustments, by cash payment, in the amounts paid or retained for such Fiscal Year as are needed because of the final figures set forth in such Financial Statements. Such Financial Statements shall be controlling over the preceding Accounting Period profit and loss statements.