Franchisee Reports. The Franchisee shall establish and maintain at its own expense a bookkeeping and accounting system which conforms to the specifications which the Franchisor may prescribe from time to time, including the Franchisor’s current “Standard Code of Accounts” as described in the Operations Manual. The Franchisee shall supply to the Franchisor such reports in a manner and form as the Franchisor may from time to time reasonably require, including:
a. Monthly summary reports, in a form as may be prescribed by the Franchisor, mailed to the Franchisor postmarked no later than the 15th day of the month and containing information relative to the previous month’s operations; and
b. Quarterly financial statements, prepared in accordance with generally accepted accounting principles (“GAAP”), and consisting of a profit and loss statement and balance sheet for the ROCKY MOUNTAIN CHOCOLATE FACTORY Store, mailed to the Franchisor postmarked no later than the 15th day following the end of the calendar quarter, based on operating results of the prior quarter, which shall be submitted in a form approved by the Franchisor and shall be certified by the Franchisee to be correct. The Franchisor reserves the right to disclose data derived from such reports, without identifying the Franchisee, except to the extent identification of the Franchisee is required by law.
Franchisee Reports. 18 15.2. Annual Financial Statements................................................................18 15.3. Verification...............................................................................18 15.4.
Franchisee Reports. In each Quarterly Report, Franchisee will certify to County that it has fully and timely met its Performance Obligations during the preceding Quarter. If Franchisee cannot so certify, then Franchisee will note those failures in its Quarterly Report and within thirty
Franchisee Reports. 18 15.2. Verification............................................. 19 15.3.
Franchisee Reports. The Franchisee shall establish and maintain, at its own expense, bookkeeping, accounting and data processing systems which conform to the specifications which the Franchisor may prescribe from time to time (including, without limitation, requirements for timely entry of information into data bases of the Program, periodic printouts of reports generated by the Program and the Franchisor's access to all Program data by modem). Each transaction of the Center shall be processed on the Program in the manner prescribed by the Franchisor. The Franchisor shall have the right of access to the Program and all data processed thereon with respect to the Center. The Franchisee shall provide access to the Franchisor at any time by installing a modem which meets the Company's standards and specifications. The Franchisee shall supply to the Franchisor such types of reports in a manner and form as the Franchisor may from time to time reasonably require, including:
a. within 10 days after the end of each calendar month (or weekly if the Franchisor requires the Franchisee to pay the Royalty described in Section 5.B. hereof on a weekly basis), a report on the Center's Gross Revenues for such calendar month (or week);
b. within 90 days after the end of the Franchisee's fiscal year, a balance sheet and profit and loss statement for the Center for such year (or monthly or quarterly if required by the Franchisor, in which case such statements shall also reflect year-to-date information); and
c. upon request of the Franchisor, within 10 days after such returns are filed, exact copies of federal and state income, sales and any other tax returns and such other forms, records, books and other information as the Franchisor may periodically require. The Franchisor reserves the right to require that the Franchisees submit financial statements on a quarterly or monthly basis and within such time periods as may be reasonable under the circumstances. The Franchisor also reserves the right to disclose data derived from such reports, without identifying the Franchisee, except to the extent identification of the Franchisee is required by law. The Franchisee consents to the Franchisor obtaining financial and account information regarding the Center and its operations from third parties with whom the Franchisee does business, as and when deemed necessary by the Franchisor.
Franchisee Reports. The Franchisee shall establish and maintain, at its own expense, bookkeeping, accounting and data processing systems which conform to the specifications which the Franchisor may prescribe from time to time (including, without limitation, requirements for timely entry of information into data bases of the Program, periodic printouts of reports generated by the Program and the Franchisor's access to all Program data by modem). Each transaction of the Center shall be processed on the Program in the manner prescribed by the Franchisor. The Franchisor shall have the right of access to the Program and all data processed thereon with respect to the Center. The Franchisee shall provide the Franchisor with electronic access to the Program and its data at any time by obtaining and maintaining an account with an internet service provider, paying an annual fee to the Franchisor for an electronic mail connection and obtaining and maintaining computer hardware which meets the Franchisor's standards and specifications. The Franchisee shall supply to the Franchisor such types of reports in a manner and form as the Franchisor may from time to time reasonably require, including:
a. within 10 days after the end of each calendar month (or weekly if the Franchisor requires the Franchisee to pay the Royalty described in Section 11.1 hereof on a weekly basis), a report on the Center's Royalty Based Revenues for such calendar month (or week);
Franchisee Reports. 18 15.2. Annual Financial Statements. . . . . . . . . . . . . . . . . . 19 15.3. Verification . . . . . . . . . . . . . . . . . . . . . . . . . 19 15.4.
Franchisee Reports. Master Franchisee must make contact with all Franchisees within the Development Area for the purpose of consultation, assistance and guidance of Franchisees and managers of each PLANET BEACH® business, and Master Franchisee or its representatives will prepare, for benefit of both Master Franchisee and Franchisor, written reports regarding these regular contacts outlining any suggested changes or improvement in the operations of the PLANET BEACH® business and detailing any defaults in such operations which become evident as a result of any such contact, and a copy of each such written report must be provided to both the Franchisee or its manager and Franchisor.
Franchisee Reports. Franchisee shall ------------------ use the bookkeeping services described in and shall execute Exhibit B-7 for the first 12 months Franchisee's first Restaurant is operating. After that, Franchisee may discontinue the bookkeeping service 90 days following completion of the following : Franchisee retains a full time professional accountant (approved in writing by Franchisor) to provide bookkeeping services (at Franchisee's expenses) and that accountant agrees in writing (on a form acceptable to Franchisor) to provide timely financial statements required by this Section 15. If Franchisee fails to provide such financial statements more than 2 times in any 12-month period, in addition to any other remedies, Franchisor may require Franchisee to use Franchisor's bookkeeping services at the then-current fee. Franchisee shall also provide to Franchisor financial and accounting reports in a manner and form as Franchisor may reasonably require, including:
(A) Weekly summary reports, submitted by no later than the Due Date each week (defined in Section 5.3) and containing information relative to the previous weekly reporting period operations;
(B) Any other data, information and supporting records reasonably requested by Franchisor from time to time (including without limitation daily and weekly reports of product sales by category);
(C) Within 15 days after the end of each month, an income statement of Franchisee's Restaurant for such month and for the fiscal year to date, prepared in accordance with generally accepted accounting principles ("GAAP") consistently applied, in Franchisor's recommended format; and
(D) Within 90 days after the end of Franchisee's fiscal year, which shall be the calendar year, an income statement and balance sheet of Franchisee's Restaurant for such fiscal year (reflecting all year-end adjustments), and a statement of changes in cashflow of the Restaurant, prepared in accordance with GAAP, consistently applied, and in Franchisor's recommended format. Franchisor reserves the right to require that Franchisee have reviewed financial statements prepared on an annual basis.
Franchisee Reports. 18 15.2. Verification. . . . . . . . . . . . . . . . . . . . . . 18 15.3.
