Common use of Annual Financial Report Clause in Contracts

Annual Financial Report. Franchisee shall complete and submit to Franchisor on a regular continuing basis an annual financial report (which may be unaudited) prepared in compliance with GAAP within ninety days after the end of Franchisee’s fiscal year. The annual financial report must reflect the annual statement of operations and include an income statement and a balance sheet and provide such other forms, reports, records and financial statements as Franchisor may reasonably designate. If Franchisee has combined or consolidated such financial information for the Xxxxx with that of any other business, Franchisee shall submit to Franchisor, the forms, reports, records and financial statements which contain the financial information for the Xxxxx licensed by this Agreement. Franchisor or its designees shall have the right at all reasonable times to review, audit, examine and copy any and all of the books and records of Franchisee at the Xxxxx. Franchisee shall make such books and records available to Franchisor or its designees immediately upon request. Franchisee authorizes Franchisor in its sole discretion to disclose data from Franchisee’s financial reports to prospective or existing franchises or to other third parties, as long as Franchisee is not specifically identified.

Annual Financial Report. Franchisee shall complete and submit to Franchisor on a regular continuing basis an annual financial report (which may be unaudited) prepared in compliance with GAAP within ninety days after the end of Franchisee’s fiscal year. The annual financial report must reflect the annual statement of operations and include an income statement and a balance sheet and provide such other forms, reports, records and financial statements as Franchisor may reasonably designate. If Franchisee has combined or consolidated such financial information for the Xxxxx Kenon with that xxxx of any other business, Franchisee shall submit to Franchisor, the forms, reports, records and financial statements which contain the financial information for the Xxxxx licensed by Kenon licenxxx xy this Agreement. Franchisor or its designees shall have the right at all reasonable times to review, audit, examine and copy any and all of the books and records of Franchisee at the XxxxxKenon. Franchisee Fraxxxxxee shall make such books and records available to Franchisor or its designees immediately upon request. Franchisee authorizes Franchisor in its sole discretion to disclose data from Franchisee’s financial reports to prospective or existing franchises or to other third parties, as long as Franchisee is not specifically identified.