Common use of Sales Reports and Records Clause in Contracts

Sales Reports and Records. 4.1 Beginning on the tenth (10th) day of the second full calendar month of the Lease Term, and continuing on or before the tenth (10th) day of each calendar month thereafter during the Lease Term and within ten (10) days after termination of this Lease, Tenant shall prepare and deliver to Landlord at Landlord’s Address a statement of Gross Sales made during the preceding calendar month. In addition, within sixty (60) days after the expiration of each calendar year during the Lease Term and within sixty (60) days after termination of this Lease, Tenant shall prepare and deliver to Landlord at Landlord’s Address a statement of Gross Sales during the preceding calendar year (or partial calendar year), confirmed as being correct by an officer of Tenant’s general partner, or if Landlord so requests, by an independent certified public accountant. Tenant shall furnish similar statements for its licensees, concessionaires and subtenants, if any. All such statements shall be in such form as Landlord may require. If any such confirmed statement discloses an error in the calculation of Percentage Rent for any period, an appropriate adjustment of Percentage Rent shall be made, subject, however, to Landlord’s rights under Section 4.3 below. In addition, Tenant shall deliver to Landlord, at Landlord’s Address, copies of all Texas Sales and Use Tax Returns filed by Tenant with the Office of the Comptroller of Public Accounts of the State of Texas within ten (10) days after filing same. 4.2 Tenant shall keep in the Premises or at some other location in Austin, Texas which has been approved in writing by Landlord, a permanent, accurate set of books and records of all sales of merchandise and revenue derived from business in or from the Premises, and all supporting records such as tax reports, banking records, cash register tapes, sales slips and other sales records. All such books and records shall be retained and preserved for at least twenty-four (24) months after the end of the calendar year to which they relate, and shall be subject to inspection, copying and audit by Landlord and Landlord’s agents at all reasonable times. 4.3 If Landlord is not satisfied with any monthly or annual statement of Gross Sales submitted by Tenant, Landlord shall have the right to have its auditors make a special audit of all books and records, wherever located, pertaining to sales made in or from the Premises during the period in question. If any audited statement is found to be incorrect to an extent of more than two percent (2%) over the figures submitted by Tenant, Tenant shall pay for such audit. Tenant shall pay promptly to Landlord any deficiency or Landlord shall refund promptly to Tenant any overpayment, as the case may be, which is established by such audit.

Sales Reports and Records. 4.1 Beginning on the tenth (10th) day of the second full calendar month of the Lease Term, and continuing on or before the tenth (10th) day of each calendar month thereafter during the Lease Term and within ten (10) days after termination of this Lease, Tenant shall prepare and deliver to Landlord at Landlord’s Address a statement of Gross Sales made during the preceding calendar month. In addition, within sixty (60) days after the expiration of each calendar year during the Lease Term and within sixty (60) days after termination of this Lease, Tenant shall prepare and deliver to Landlord at Landlord’s Address a statement of Gross Sales during the preceding calendar year (or partial calendar year), confirmed as being correct by an officer of Tenant’s general partner, or if Landlord so requests, by an independent certified public accountant. Tenant shall furnish similar statements for its licensees, concessionaires and subtenants, if any. All such statements shall be in such form as Landlord may require. If any such confirmed statement discloses an error in the calculation of Percentage Rent for any period, an appropriate adjustment of Percentage Rent shall be made, subject, however, to Landlord’s rights under Section 4.3 below. In addition, Tenant shall deliver to Landlord, at Landlord’s Address, copies of all Texas Sales and Use Tax Returns filed by Tenant with the Office of the Comptroller of Public Accounts of the State of Texas within ten (10) days after filing same. 4.2 Tenant shall keep in the Premises or at some other location in Austin, Texas which has been approved in writing by Landlord, a permanent, accurate set of books and records of all sales of merchandise and revenue derived from business in or from the Premises, and all supporting records such as tax reports, banking records, cash register tapes, sales slips and other sales records. All such books and records shall be retained and preserved for at least twenty-four (24) months after the end of the calendar year to which they relate, and shall be subject to inspection, copying and audit by Landlord and Landlord’s agents at all reasonable times. 4.3 If Landlord is not satisfied with any monthly or annual statement of Gross Sales submitted by Tenant, Landlord shall have the right to have its auditors make a special audit of all books and records, records wherever located, pertaining to sales made in or from the Premises during the period in question. question If any audited statement is found to be incorrect to an extent of more than two percent (2%) over the figures submitted by Tenant, Tenant shall pay for such audit. Tenant shall pay promptly to Landlord any deficiency or Landlord shall refund promptly to Tenant any overpayment, as the case may be, which is established by such audit.

Sales Reports and Records. 4.1 Beginning on the tenth (10th) day of the second full calendar month of the Lease Term, and continuing on On or before the tenth (10th) 15th day of each calendar month thereafter quarter during the Lease Term and within ten (10) days after termination of this LeaseTerm, Tenant shall prepare and deliver to Landlord at Landlord’s Address the place where rental is then payable and to the City a certified statement of Gross Sales Revenues made during the preceding calendar monthquarter. In addition, within sixty (60) days by March 31 of each Lease Year after the expiration of each calendar year during the first Lease Term and within sixty (60) days after termination of this LeaseYear, Tenant shall prepare and deliver to Landlord at Landlord’s Address the place where rental is then payable and to the City a certified statement of Gross Sales Revenues during the preceding calendar year (or partial calendar year), confirmed as being Lease Year. Such statements shall be certified to be correct by an a senior officer of Tenant’s general partner, or if Landlord so requests, by an independent certified public accountant. Tenant shall also furnish similar statements for its licenseesto Landlord and the City a copy of each periodic report (whether monthly, concessionaires quarterly, or annually) as and subtenants, if anywhen furnished by Tenant to any governmental authority with respect to sales or excise tax paid to such authority by Tenant. All such statements shall be in such form For the purpose of ascertaining the amounts payable as Landlord may require. If any such confirmed statement discloses an error in the calculation of Percentage Rent for any period, an appropriate adjustment of Percentage Rent shall be made, subject, however, to Landlord’s rights under Section 4.3 below. In additionhereunder, Tenant shall deliver covenants and agrees to Landlordmaintain at the Premises, at Landlord’s Address, copies books of accounts covering all Texas Sales and Use Tax Returns filed sales made by Tenant in connection with the Office its operation of the Comptroller of Public Accounts of the State of Texas within ten (10) days after filing same. 4.2 Tenant shall keep in the Premises or at some other location in Austin, Texas which has been approved in writing by Landlord, a permanent, accurate set of books and records of all sales of merchandise and revenue derived from business in or from conducted at the Premises, and all supporting records such as tax reports, reports and banking records, cash register tapes, sales slips and other sales records. All such Such books and records shall be retained and preserved for at least twentythirty-four six (2436) months after the end of the calendar year Lease Year to which they relate, and shall be subject to inspection, copying audit and audit inspection by Landlord and Landlord’s the City and their agents at all reasonable times. 4.3 If times upon advance written request. Such books and records shall be consistent with Tenant's normal operating procedures. Upon reasonable advance written notice to Tenant and not more than twice in any calendar year (unless Landlord or the City has reasonable grounds to suspect that Tenant is not satisfied with any monthly or annual statement of Gross Sales submitted by Tenantunderpaying Rent), Landlord and the City and their authorized representatives shall have the right to have its auditors make a special audit and inspect, at their own expense, Tenant's books of all books and records, wherever located, pertaining to sales made in or from the Premises account during the period in questionregular business hours. If any audited statement is found such audit or inspection discloses a deficiency in the payment of Rent, Tenant shall promptly pay such deficiency. If such audit or inspection shall disclose an overpayment by Tenant of Rent, Tenant shall be entitled to be incorrect to an extent a credit in the amount of more than two such overpayment after deducting the reasonable out-of-pocket cost of such audit or inspection against the next installments of Rent due hereunder. If such audit or inspection shows that Rent has been underpaid by three percent (23%) over the figures submitted by Tenantor more, Tenant shall pay for the actual and reasonable out-of-pocket cost of such audit. audit or inspection in addition to any deficiency, together with interest at the Default Rate (as herein defined) from the date on which the Rent was originally due until paid, but absent fraud or gross negligence on the part of Tenant, the events, errors, acts or omissions giving rise to such deficiency shall not constitute a breach or default by Tenant hereunder, and this Lease shall pay promptly to Landlord any deficiency or Landlord shall refund promptly to Tenant any overpayment, as the case may be, which is established by such auditremain in full force and effect.

Sales Reports and Records. 4.1 Beginning on the tenth (10th10) day of the second full calendar month of the Lease Term, and continuing on or before the tenth (10th10) day of each calendar month thereafter during the Lease Term and within ten (10) days after termination of this Lease, Tenant shall prepare and deliver to Landlord at Landlord’s Address a statement of Gross Sales made during the preceding calendar month. In addition, within sixty (60) days after the expiration of each calendar year during the Lease Term and within sixty (60) days after termination of this Lease, Tenant shall prepare and deliver to Landlord at Landlord’s Address a statement of Gross Sales during the preceding calendar year (or partial calendar year), confirmed as being correct by an officer of Tenant’s general partner, or if Landlord so requests, by an independent certified public accountant. Tenant shall furnish similar statements for its licensees, concessionaires and subtenants, if any. All such statements shall be in such form as Landlord may require. If any such confirmed statement discloses an error in the calculation of Percentage Rent for any period, an appropriate adjustment of Percentage Rent shall be made, subject, however, to Landlord’s rights under Section 4.3 below. In addition, Tenant shall deliver to Landlord, at Landlord’s Address, copies of all Texas Sales and Use Tax Returns filed by Tenant with the Office of the Comptroller of Public Accounts of the State of Texas within ten (10) days after filing same. 4.2 Tenant shall keep in the Premises or at some other location in Austin, Texas which has been approved in writing by Landlord, a permanent, accurate set of books and records of all sales of merchandise and revenue derived from business in or from the Premises, and all supporting records such as tax reports, banking records, cash register tapes, sales slips and other sales records. All such books and records shall be retained and preserved for at least twenty-four (24) months after the end of the calendar year to which they relate, and shall be subject to inspection, copying and audit by Landlord and Landlord’s agents at all reasonable times. 4.3 If Landlord is not satisfied with any monthly or annual statement of Gross Sales submitted by Tenant, Landlord shall have the right to have its auditors make a special audit of all books and records, wherever located, pertaining to sales made in or from the Premises during the period in question. If any audited statement is found to be incorrect to an extent of more than two percent (2%) over the figures submitted by Tenant, Tenant shall pay for such audit. Tenant shall pay promptly to Landlord any deficiency or Landlord shall refund promptly to Tenant any overpayment, as the case may be, which is established by such audit.

Sales Reports and Records. 4.1 Beginning on the tenth (10th) day of the second full calendar month of the Lease Term, and continuing on or before the tenth (10th) day of each calendar month thereafter during the Lease Term and within ten (10) days after termination of this Lease, Tenant shall prepare and deliver to Landlord at Landlord’s Address a statement of Gross Sales made during the preceding calendar month. In addition, within sixty (60) days after the expiration of each calendar year during the Lease Term and within sixty (60) days after termination of this Lease, Tenant shall prepare and deliver to Landlord at Landlord’s Address a statement of Gross Sales during the preceding calendar year (or partial calendar year), confirmed as being correct by an officer of Tenant’s general partner, or if Landlord so requests, by an independent certified public accountant. Tenant shall furnish similar statements for its licensees, concessionaires and subtenants, if any. All such statements shall be in such form as Landlord may require. If any such confirmed statement discloses an error in the calculation of Percentage Rent for any period, an appropriate adjustment of Percentage Rent shall be made, subject, however, to Landlord’s rights under Section 4.3 below. In addition, Tenant shall deliver to Landlord, at Landlord’s Address, copies of all Texas Sales and Use Tax Returns filed by Tenant with the Office of the Comptroller of Public Accounts of the State of Texas within ten (10) days after filing same. 4.2 Tenant shall keep in the Premises or at some other location in AustinHouston, Texas which has been approved in writing by Landlord, a permanent, accurate set of books and records of all sales of merchandise and revenue derived from business in or from the Premises, and all supporting records such as tax reports, banking records, cash register tapes, sales slips and other sales records. All such books and records shall be retained and preserved for at least twenty-four (24) months after the end of the calendar year to which they relate, and shall be subject to inspection, copying and audit by Landlord and Landlord’s agents at all reasonable times. 4.3 If Landlord is not satisfied with any monthly or annual statement of Gross Sales submitted by Tenant, Landlord shall have the right to have its auditors make a special audit of all books and records, wherever located, pertaining to sales made in or from the Premises during the period in question. If any audited statement is found to be incorrect to an extent of more than two percent (2%) over the figures submitted by Tenant, Tenant shall pay for such audit. Tenant shall pay promptly to Landlord any deficiency or Landlord shall refund promptly to Tenant any overpayment, as the case may be, which is established by such audit.