Reconciliation of Additional Rent. Section 3.1.2(c) of the TA Lease is hereby amended by adding the following at the end of the first paragraph thereof: “provided, however, that with respect to any Property subject to a TA Franchise Agreement, in lieu of an audit by independent certified public accounts, Tenant shall provide to Landlord a financial report setting forth the Gross Fuel Revenues and Gross Non-Fuel Revenues for each such Property for such preceding Lease Year, or portion thereof, together with an Officer’s Certificate from Tenant’s chief financial or accounting officer certifying that to the best of such person’s knowledge, such report is true and correct and consistent with reports of revenue provided to Tenant by its franchisees generally and further, provided, that (1) Tenant shall provide to Landlord copies of (y) all reports, memoranda and supporting work papers generated in connection with any Tenant internal audit department review of financial reports in connection with a Property subject to a TA Franchise Agreement and (z) any independent third party audit reports received by Tenant from the operator of a Property subject to a TA Franchise Agreement and (2) Tenant shall undertake and complete each Lease Year an internal audit department review of financial reports for least one Property subject to a TA Franchise Agreement.”
Appears in 2 contracts
Sources: Amendment Agreement (Hospitality Properties Trust), Lease Agreement (Travelcenters of America LLC)