YEARLY ACCOUNTING Sample Clauses

YEARLY ACCOUNTING. Contractor shall annually, between the end of each Agreement Year during the Term and the beginning of the next Agreement Year during the Term, provide to Licensor, with a copy to the Team, a complete listing and description of all Equipment, including Licensor Equipment, POS Equipment, Smallwares, Promoted Equipment, and Office Equipment, along with Contractor's plans and recommendations for replenishment.
Sample 1
AutoNDA by SimpleDocs
YEARLY ACCOUNTING. TENANT shall submit to LANDLORD before the sixtieth (60) day following the end of each lease Year a written statement, signed by TENANT and certified by an officer of TENANT to be correct, setting forth the amount of Gross Sales during the preceding Lease Year. The statements referred to herein shall be made in such form and contain such details as LANDLORD may reasonably request. The acceptance by LANDLORD of payments of Percentage Rental or reports thereon shall be without prejudice and shall in no case constitute a waiver of LANDLORD's right to audit TENANT's books and records of its Gross Sales and inventories of merchandise. TENANT shall maintain at its Home Office adequate records for a period of twenty-four (24) months after the close of each Lease Year for the allowing of LANDLORD to verify the reported Gross Sales for such year. Once with respect to each Lease Year and any time within said twenty-four (24) months, LANDLORD or its agents may inspect such records during normal business hours. LANDLORD shall have the right to cause, upon five (5) days notice to TENANT, a complete audit to be made of TENANT's entire business affairs relating to the Store and of all records including those specified in the preceding paragraph, and TENANT shall make all such records available for examination at the TENANT's home office. If the results of such audit shall show that TENANT's statement of Gross Sales for any period has been understated by three percent (3%) or more, then TENANT shall pay LANDLORD the cost of such audit in addition to any deficiency payment required. The furnishing by TENANT of any grossly inaccurate statement shall constitute a breach of the Lease. Any information obtained by LANDLORD as a result of such audit shall be held in strict confidence by LANDLORD, except in any proceeding or action to collect the cost of such audit or deficiency or with respect to a prospective sale, mortgage, lease or lease- back of the Center.
Sample 1

Related to YEARLY ACCOUNTING

  • Monthly Accountings Silicon shall provide Borrower monthly with an account of advances, charges, expenses and payments made pursuant to this Agreement. Such account shall be deemed correct, accurate and binding on Borrower and an account stated (except for reverses and reapplications of payments made and corrections of errors discovered by Silicon), unless Borrower notifies Silicon in writing to the contrary within thirty days after each account is rendered, describing the nature of any alleged errors or admissions.

  • Annual Accounting The Custodian shall, at least annually, provide the Depositor or Beneficiary (in the case of death) with an accounting of such Depositor's account. Such accounting shall be deemed to be accepted by the Depositor or the Beneficiary, if the Depositor or Beneficiary does not object in writing within 60 days after the mailing of such accounting statement.

  • Fiscal Year; Accounting The Company's fiscal year shall be the calendar year with an ending month of December.

  • Fiscal Year and Accounting Method The fiscal year of the Company shall be as designated by the Board of Directors. The Board of Directors shall also determine the accounting method to be used by the Company.

  • PREMIUM ACCOUNTING The Company will pay the Reinsurer premiums in accordance with the terms specified in Exhibit C. The method and requirements for reporting and remitting premiums are outlined in Exhibit F. The Reinsurer reserves the right to charge interest on overdue premiums. The interest will be calculated according to the terms and conditions specified in Exhibit C.

  • Annual Accounting Period The annual accounting period of the Company shall be its taxable year. The Company’s taxable year shall be selected by the Member, subject to the requirements and limitations of the Code.

  • Accounting Basis The Company shall use such method of accounting as may be determined by the Board that is consistent with United States generally accepted accounting principles or such other accounting methods and conventions as the Board may from time to time determine to be used in the preparation of the Company’s tax returns.

  • Financial Accounting Practices The Borrower shall, and shall cause each of its Subsidiaries to, make and keep books, records and accounts which, in reasonable detail, accurately and fairly reflect its transactions and dispositions of its assets and maintain a system of internal accounting controls sufficient to provide reasonable assurances that (a) transactions are executed in accordance with management's general or specific authorization, (b) transactions are recorded as necessary (i) to permit preparation of financial statements in conformity with GAAP and (ii) to maintain accountability for assets, (c) access to assets is permitted only in accordance with management's general or specific authorization and (d) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

  • No Accounting Except to the extent required by the 1940 Act or under circumstances which would justify his removal for cause, no Person ceasing to be a Trustee (nor the estate of any such Person) shall be required to make an accounting to the Shareholders or remaining Trustees upon such cessation.

  • Statements of Reconciliation after Change in Accounting Principles If, as a result of any change in accounting principles and policies from those used in the preparation of the Historical Financial Statements, the consolidated financial statements of Holdings and its Subsidiaries delivered pursuant to Section 5.1(b) or 5.1(c) will differ in any material respect from the consolidated financial statements that would have been delivered pursuant to such subdivisions had no such change in accounting principles and policies been made, then, together with the first delivery of such financial statements after such change, one or more statements of reconciliation for all such prior financial statements in form and substance satisfactory to Administrative Agent;

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!