Common use of Monthly and Annual Statements Clause in Contracts

Monthly and Annual Statements. Tenant agrees to deliver to Landlord, within twenty (20) days after the end of each month during the term hereof, a complete statement signed by an agent of the Tenant showing gross sales for the preceding month. Within forty-five (45) days after the end of each Lease Year, Tenant shall deliver to Landlord a statement of the gross sales of the Tenant made at, in, on and/or from the Demised Premises for such Lease Year, certified by a duly authorized officer of Tenant. If Tenant shall fail to furnish to Landlord the annual certified statement required by this Section 3.8 within forty-five (45) days after the end of each Lease Year or the monthly statement required by this Section 3.8 on the due date thereof, Landlord shall give Tenant notice thereof. If Tenant fails to supply said statements within twenty (20) days of such notice, then in addition to the remedies available to Landlord for default by Tenant hereunder, and regardless whether the same constitutes a default by Tenant hereunder, Landlord shall have the right to perform (or cause to be performed by an independent auditing firm) an audit of Tenant's books and records to ascertain the information required to be contained in the statement to be provided by Tenant. Such audit shall be conducted at the sole cost and expense of Tenant; and Tenant shall pay to Landlord within ten (1O) days of demand therefor the cost of such audit as Additional Rent.