Percentage Compensation Fee. By the tenth (10th) day of the second and each succeeding month following the Rent Commencement Date, Concessionaire shall pay to the City the Percentage Compensation Fee for the previous month if and to the extent such Percentage Compensation Fee for such month exceeds the Monthly Guarantee for such month. At the same time, in a form acceptable to the City, Concessionaire shall furnish to the Airport’s Finance Section and the Concessions Management Section a true and accurate verified revenue statement containing reasonably accurate detail of its Gross Revenues (separately stating alcohol revenues, if any) for the preceding month. The revenue statement shall be signed by Concessionaire’s officer certifying that to the best knowledge of the officer, the Gross Revenue reported and the Compensation paid by Concessionaire was correct and properly calculated in accordance with the terms of this Agreement. The form acceptable to the City and presently in use is attached hereto as Exhibit I. At any time upon thirty (30) days advance written notice to Concessionaire, the City may require Concessionaire to submit its monthly revenue statements in electronic form, may change the timing of the submittal of the monthly revenue statements, or may otherwise modify the form of the monthly revenue statement. If a form is modified, Concessionaire agrees to begin using the new form the following month. In changing the required reporting format, the City may require and Concessionaire agrees to report Gross Revenues broken out by brand or concept, product or product line, food, beverage, alcoholic beverage, or other item listed on the Summary Page, Exhibit E, or otherwise approved by the City for sale in the Concession Space. The Parties agree that these changes may be made without the formality of amending this Agreement.
