Reso 2015-2370 - Laserfiche WebLink

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provided in Paragraph 4.1 of this Lease for the Lease Year, By way of example, when Base Rent for a calendar quarter totals Sixty Thousand and No/l00 Dollars ($60,000.00), and the Gross Sales for such quarter is $1,000,000, then Lessee shall pay to Lessor as Percentage Rent an additional $20,000 ($1,000,000 x 0.08 = $80,000 - $60,000 = $20,000). The Percentage Rent shall be paid on a quarterly basis during the Lease Year, on or before the thirtieth (30th) day of the month following the end of each Lease Year quarter. 4.4 Gross Sales. The term "Gross Sales" as used herein shall be construed to include the entire amount of the actual sales price, whether for cash or otherwise, of all sales of merchandise or services and all other receipts whatsoever of all business conducted in or from the Leased Premises or concession area by Lessee or third party vendors approved by City Manager or designee. A "sale" shall be deemed to have been consummated for the purposes of this Lease, and the entire amount of the sales price shall be included in Gross Sales, at such time that (i) the transaction is initially reflected in the books or records of Lessee or a concessionaire (if a concessionaire makes the sale), or (ii)Lessee or such concessionaire receives all or any portion of the sales price, or(iii) the applicable goods or services are delivered to the customer, whichever first occurs, irrespective of whether payment is made in installments, the sale is for cash or for credit, or otherwise, or all or any portion of the sales price has actually been paid at the time of inclusion in Gross Sales or at any other time. Deductions shall be allowed for direct or indirect discounts, rebates, or other reductions on sales to employees or others, The Lessor shall be entitled to review and analyze deductions taken by Lessee for direct or indirect discounts or rebates. If Lessee's deductions exceed the industry standard amount of 3%, Lessor may require that the deductions for direct or indirect discounts or rebates in excess of 3% be calculated into the Gross Sales for the period in question. The term 'Gross Sales" shall not include,however, any sums collected and paid out by Lessee for any sales or excise tax imposed by and accounted for by Lessee to any duly constituted governmental authority, nor shall it include the exchange of merchandise between the stores of Lessee or related companies, if any, where such exchange of goods or merchandise is made solely for the convenient operation of the business of Lessee and not for the purpose of consummating a sale which has theretofore been made in or from the Leased Premises and/or for the purpose of depriving Lessor of the benefit of a sale which otherwise would be made in or from the Leased Premises, nor shall the term include the amount of returns to shippers or manufacturers, nor proceeds from the sale of trade fixtures. There shall be deductible from Gross Sales the amount of any cash or credit refund made upon any sale in or from the Leased Premises, previously included in "Gross Sales" hereunder, not to exceed the sum so previously included, where the merchandise sold is thereafter returned by the purchaser and accepted by Lessee. The term "merchandise" as used in this Lease shall include, but not be limited to, food and beverages. 4.5. Late Charge. If any installment of the Base Rent or Percentage Rent, any Imposition or any other payment provided for under this Lease which is payable by Lessee is not received by Lessor within fifteen(15) days after notice, Lessee shall immediately pay Lessor the amount of Five Hundred ($500) Dollars as a late charge (the"Late Charge"). Lessee agrees that the Late Charge represents a fair and reasonable estimate of the costs that Lessor will incur by reason of any such late payment by Lessee. Acceptance of the Late Charge by Lessor shall not constitute a waiver of Lessee's default with respect to the overdue amount, not prevent Lessor from exercising any other rights and remedies available to Lessor under this Lease, (_777 r