Verification of Gross Sales. Audit. Lessee shall keep full, complete and proper books, records and accounts of its daily gross sales, both for cash and on credit, of each separate department and concession at any time operated in the Demised Premises. Lessor and its agents and employees, upon reasonable notice, shall have the right at any and all times, during regular business hours, to examine and inspect all of the books and records of Lessee (including any sales tax reports) pertaining to the business of Lessee conducted in, upon or from the Demised Premises, which Lessee shall produce upon demand by Lessor or Lessor’s agents for the purpose of investigating and verifying the accuracy of any statement of gross sales. Lessor may once in any lease year cause an audit of the gross sales of Lessee to be made by an independent certified accountant of Lessor’s selection, and if the statement of gross sales previously made to Lessor by Lessee shall be found to be understated by more than five percent (5%), Lessee shall immediately pay to Lessor the cost of such audit, not to exceed Five Hundred Dollars ($500), as well as the additional rental shown to be payable by Lessee to Lessor; otherwise the cost of such audit shall be paid by Lessor. If the statement of gross sales previously made to Lessor by Lessee shall otherwise be found to be incorrect, then the party found to be owing money shall promptly pay over such sums to the other party. It is understood and agreed that the Percentage Rent provisions apply only to sales made in, upon or from the business to be operated upon the Demised Premises and do not apply to sales of any other business.
Verification of Gross Sales. During the Term of this Agreement and for three years following its expiration or assignment, the Director of Conservation and Development (“Director”) may request copies of Embarc’s state and federal tax returns, cash-flow reports, financial statements, income statements, books, journals, receipts, and other financial records for the Dispensary (“Financial Records”), to enable the Director to independently verify the Dispensary’s Gross Sales for any Operating Year. Within 30 days after receiving the Director’s written request for Financial Records under this section, Embarc shall provide the Director copies of all Financial Records requested by the Director. If the Director determines that Embarc has underpaid any Payment, Embarc shall pay the County the balance owed, as determined by the Director, within 30 days following a written request for payment from the Director.
Verification of Gross Sales. During the term of this Agreement and for three years following its expiration, the Director of Conservation and Development (“Director”) may request copies of 703 Xxxxxxx’x state and federal tax returns, cash-flow reports, financial statements, income statements, books, journals, and other financial records for the Facility (“Financial Records”), to enable the Director to independently verify the Facility’s Operating Income for any Operating Year. Within 30 days after receiving the Director’s written request for Financial Records under this section, 703 Xxxxxxx shall provide the Director copies of all Financial Records requested by the Director. If the Director determines that 703 Xxxxxxx has underpaid any Payment, 703 Xxxxxxx shall pay the County the balance owed, as determined by the Director, within 30 days following a written request for payment from the Director.
Verification of Gross Sales. During the term of this Agreement and for three years following its expiration, the Director may request copies of Artist Tree’s state and federal tax returns, cash-flow reports, financial statements, income statements, books, journals, and other financial records for the Dispensary (“Financial Records”), to enable the Director to independently verify the Dispensary’s Gross Sales for the Operating Year or Operating Years for which any Payment is made. Within 30 days after receiving the Director’s written request for Financial Records under this section, Artist Tree shall provide the Director copies of all Financial Records requested by the Director. If the Director determines that Artist Tree has underpaid any Payment, Artist Tree shall pay the County the balance owed, as determined by the Director, within 30 days following a written request for payment from the Director.
