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Agmt04 cinema - closing docs
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Agmt04 cinema - closing docs
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Last modified
7/5/2005 2:27:38 PM
Creation date
12/6/2004 9:14:09 AM
Metadata
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Template:
Agreement
Contractor Name
numerous files
PROJECT NAME
Cinema - closing documents from escrow
RMP File Number
100 bin 24
Date
11/29/2004
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<br /> Section 4.6 Records and Audits. Tenant shall keep accurate records of all Gross <br /> 'Sales in accordance with Tenant's usual accounting practices and shall maintain such records at <br /> the Premises or at Tenant's primary place of business. Landlord may, once each Percentage <br /> Rent Year, audit Tenant's Gross Sales records for the Premises by providing forty-five (45) days <br /> advance written notice of such audit. Landlord must exercise this audit (if at all) right within two <br /> (2) years following the end of the Percentage Rent Year that Landlord desires to audit. If <br /> Landlord fails to notify Tenant of Landlord's intention to audit Tenant's Gross Sales records for <br /> a particular Percentage Rent Year within two (2) years after the expiration thereof, then Landlord <br /> may not seek to recover any deficiencies in the amount paid. All audits shall be performed <br /> during Tenant's usual business hours and without interference with the conduct of business at the <br /> place where the audit is made. If an audit reveals that Gross Sales were understated by more <br /> than five percent (5%) than the amount in Tenant's Gross Sales statement, then Tenant. shall pay <br /> to Landlord the reasonable cost of such audit. In addition, within twenty (20) business days after <br />-, the completion of the audit, Tenant shall pay to Landlord any additional Percentage Rent owed, <br /> based on the audited Gross Sales figure (plus interest thereon at the Interest Rate from and after <br /> the date the Percentage Rent should have been paid if the Gross Sales had not been previously <br /> understated by Tenant). If the audit discloses an overpayment of Percentage Rent by Tenant, <br /> then Landlord shall pay to Tenant the amount of the overpayment within twenty (20) business <br /> days after the completion ofthe audit. <br /> Section 4.7 Alternate Rent. If, at any time after the Commencement Date, Tenant is <br /> required or entitled to pay Alternate Rent in lieu of Base Rent and/or other sums otherwise due <br /> hereunder, then such Alternate Rent shall be paid by Tenant to Landlord monthly in arrears on or <br /> before the fifteenth (15th) day after the end of each calendar month and Tenant's payment of <br /> Alternate Rent for each month shall be accompanied by a statement of Tenant's Gross Sales for <br /> the applicable period, which shall be certified and signed by Tenant's chief financial officer or a <br /> certified public accountant and shall be subject to the reporting, review, audit and confidentiality <br /> provisions set forth above. <br /> ARTICLE 5 <br /> COMMON AREA EXPENSES <br /> Section 5.1 Tenant's Contribution. Beginning on the Commencement Date (but <br /> subject to Section 3.l(a)), Tenant shall reimburse Landlord for Tenant's CAM Share of Common <br /> Area Expenses reasonably incurred by Landlord from and after the Commencement Date (the <br /> amount payable by Tenant pursuant to this Article 5 is referred to herein as "Tenant's CAM <br /> Contribution"); provided, however, in no event shall Tenant's CAM Contribution in any Lease <br /> Year exceed the sum of (i) the Maximum Controllable CAM Amount applicable to such Lease <br /> Year, plus (ii) Tenant's CAM Share of the Common Area Special Expenses incurred by <br /> Landlord during such Lease Year. <br /> Section 5.2 Definition of Common Area Expenses. Except as set forth in Section <br /> 5.3, "Common Area Expenses" shall mean the actual, reasonable, out-of-pocket costs incurred <br /> by Landlord for the following: operation, maintenance, cleaning and non-capital repair of the <br /> .' <br /> 23 <br /> CHG02:309I375.v8 <br /> ~ <br />
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