Common use of Statements, Books and Records Clause in Contracts

Statements, Books and Records. (A) Within twenty (20) days after close of each calendar month of the term of this Agreement, Tenant shall submit to MVA, in a clear, legible, documented, auditable form and with detail satisfactory to MVA, a statement of its gross receipts during the preceding month from its operations at or related to the Airport from which the percentage payments to the MVA may be computed, said statement to be certified to its accuracy with signatures of a responsible accounting officer of the Tenant and owner of the business. Tenant shall keep full and accurate books and records showing all of its said gross receipts pertaining to operations at or through the Airport, and MVA shall have the right, through its representatives, and at all reasonable times, to inspect such books, computer files, tapes, disks, registers and records. Tenant hereby agrees that all such records and instruments will be made available to MVA at the premises for the most recent three (3) year period. (B) All rental contract forms used by the Tenant in its operations at the Airport under this Agreement shall be computer generated, serially numbered and recorded such as to ensure a clear audit trail. Tenant shall maintain adequate records and internal audit controls pertaining to all customer rental agreements related to the Airport concession. These rental agreements and records shall be open to and available for inspection and examination at all times by MVA or its duly authorized representative. (C) The maintenance of a log or record showing all rental agreements issued from or through the Tenant's airport counter shall be required and all agreements must be accounted for, including voided, lost or destroyed copies. (D) MVA reserves the right, at MVA's expense, to audit the Tenant's books and records of receipts at any time for the purpose of verifying the gross receipts hereunder. If, as a result of such audit, it is established that Tenant has understated the gross receipts as defined herein, by three percent (3%) or more, the entire expense of said audit shall be borne by the Tenant. Any additional fee due shall forthwith be paid by the Tenant to MVA with interest thereon at ten percent (10%) per annum from the date such additional percentage fees became due.

Statements, Books and Records. (Aa) Within twenty (20) days after the close of each calendar month of the term of this AgreementConcession, Tenant CONCESSIONAIRE shall submit to MVAENGLAND AUTHORITY, on the Gross Revenue form as shown in a clear, legible, documented, auditable form and with detail satisfactory to MVAExhibit E, a statement of its gross receipts Gross Revenue during the preceding month from its operations at or related to the Airport from AEX upon which the percentage payments to the MVA may be ENGLAND AUTHORITY set forth in Subsection 4.1(b) and CFC charges as set forth in Subsection 4.5, are computed, said statement to be certified to its accuracy with signatures of signed by a responsible accounting officer of the Tenant and owner of the businessCONCESSIONAIRE. Tenant CONCESSIONAIRE shall keep full and accurate books and records showing all of its said gross receipts Gross Revenue pertaining to operations at or through the Airport, and MVA ENGLAND AUTHORITY shall have the right, through its representatives, and at all reasonable times, to inspect such books, computer files, tapes, disks, registers books and records, including State of Louisiana sales tax return records. Tenant CONCESSIONAIRE hereby agrees that all such records and instruments will be made available to MVA at ENGLAND AUTHORITY on the AEX premises for the most recent at least a three (3) year periodperiod following termination of this Concession. (Bb) All rental contract forms used by the Tenant in its operations at the Airport under this Agreement shall be computer generated, serially numbered and recorded such as to ensure a clear audit trail. Tenant CONCESSIONAIRE shall maintain adequate records and internal audit controls pertaining to all customer the rental agreements related to the Airport concession. These rental agreements and records transactions at AEX which shall be open to and available for inspection and examination at all times of the Premises upon forty-eight (48) hours notice by MVA ENGLAND AUTHORITY or its duly authorized representative. (Cc) The maintenance CONCESSIONAIRE shall employ an independent certified public accountant who shall provide to ENGLAND AUTHORITY for each twelve (12) month period written financial statements certifying that the Minimum Annual Guarantee and/or Percentage Fee paid by CONCESSIONAIRE to the ENGLAND AUTHORITY for the preceding twelve (12) month period pursuant to this Concession was made in accordance with the terms of this Concession. Such statements shall also contain a log or record showing all rental agreements issued from or through list of the Tenant's airport counter shall be required and all agreements must be accounted for, including voided, lost or destroyed copies. (D) MVA reserves Gross Revenue as shown on the right, at MVA's expense, to audit the Tenant's books and records of receipts at any time for CONCESSIONAIRE and which were used to compute the purpose of verifying fees paid to ENGLAND AUTHORITY during the gross receipts hereunderperiod covered by statement. If, as a result of such audit, it is established that Tenant has understated the gross receipts as defined herein, by three percent (3%) or more, the entire expense of said audit Said statement shall be borne by delivered to the TenantENGLAND AUTHORITY no later than one hundred twenty (120) days after close of CONCESSIONAIRE’s annual fiscal year operations. Any additional fee due Failure to provide said certified statements shall forthwith be paid by the Tenant to MVA with interest thereon at ten percent (10%) result in a $100 penalty per annum from the date such additional percentage fees became dueday for each day that said statements are not provided.

Statements, Books and Records. (A) A. Within twenty (20) calendar days after the close of each calendar month of during the term of this Agreement, Tenant Concessionaire shall submit to MVAAuthority, in a clear, legible, documented, auditable form and with detail satisfactory to MVAthe Authority, a statement of its gross receipts during the preceding month from its operations at or related to the Airport from which the percentage payments concession fee to the MVA Authority may be computed, said statement to . Said statements will be certified to its their accuracy with by the signatures of both a responsible accounting officer of the Tenant Concessionaire and the owner of the businessConcessionaire. Tenant Concessionaire shall keep full and accurate books and records showing all of its said gross receipts pertaining to resulting from operations at or through the Airport, and MVA Authority shall have the right, through its representatives, and at all reasonable times, to inspect such books, computer files, tapes, disks, registers and records, electronic or otherwise. Tenant Concessionaire hereby agrees that all such records and instruments will be made available to MVA Authority at the premises for the most recent three (3) year period. (B) B. All rental contract forms used by the Tenant Concessionaire in its operations at or through the Airport under this Agreement shall be computer generated, serially numbered and recorded such as to ensure a clear audit trail. Tenant Concessionaire shall maintain adequate records and internal audit controls pertaining to all customer rental agreements related to the Airport concession. These rental agreements and records shall be open to and available for inspection and examination at all reasonable times by MVA the Authority or its duly authorized representative. (C) The maintenance of C. Concessionaire shall maintain a log or record showing all rental agreements issued from or through relating to the TenantConcessionaire's airport counter shall be required and all Airport concession. All rental agreements must be accounted for, including voided, lost or destroyed copies. (D) MVA D. Authority reserves the right, at MVAAuthority's expense, to audit the TenantConcessionaire's books and records of receipts at any time for the purpose of verifying the gross receipts hereunder. If, as a result of such audit, it is established that Tenant Concessionaire has understated the gross receipts as defined herein, by three percent (3%) or more, the entire expense of said audit shall be borne by the TenantConcessionaire and shall be immediately due and payable from Concessionaire to Authority. Any additional fee gross receipts fees shown to be due by the audit shall forthwith be paid by the Tenant Concessionaire to MVA the Authority with interest thereon at ten percent (10%) per annum accruing from the date such additional percentage gross receipts fees became dueshould have been paid pursuant to the terms of this Agreement.