Agmt 1997 American Golf Corp - Laserfiche WebLink

Home

Lessee; employees; (13) Amounts attributed to meals served or provided to employees of (I 4) The amount of any sales of merchandise discounted to (15) Receipts from the sale of waste or scrap materials resulting from Lessee's operations; (I 6) Fees attributable to membership in the American Golf Club or the American Golf Players' Association (or any other similar national or regional afFnity program implemented by Lessee) affinity programs designed to increase customer loyalty and frequency of play (as opposed to annual memberships or seasonal passes which shall be included as Gross Revenue), it being understood that such programs may allow members the right to play a limited number of rounds at discounted green fees and cart fee rates, to use the driving range at a discounted rate and to receive limited food and beverage and merchandise discounts. (17) The amount of any cash receipt from Lessee's operation of an advance reservation system. (I 8) Receipts from issuance of resident identification cards. It is the intention of Lessor and Lessee that any affinity program and/or reservation system implemented by Lessee and affecting the Leased Premises will have the result of increasing the overall revenues at the Leased Premises and will not result in the diversion of revenues from the Leased Premises. In addition to Lessor's right to audit Lessee's books and records as provided in Section 9.2 below, Lessor shall have the right to audit the implementation of any affinity program or advance reservation system to insure that no such diversion of revenues has occurred. 8. REPORTING AND PAYMENT OF PERCENTAGE RENT. Lessee shall calculate and pay Percentage Rent, if any, on asemi-annual basis. On or before August 31 of each Lease Year, Lessee shall submit to Lessor a statement signed by Lessee or a person authorized by Lessee showing in reasonable detail the amount and types of Gross Revenue for the period beginning January I and ending June 30. In addition, Lessee shall remit to Lessor, if appropriate, the amount by which Percentage Rent for such six (6) month period e.YCeeds the Minimum Rent. On or before February 28 of each Lease Year, Lessee shall submit to Lessor a LEASE AGREEMENT BETWEEN CITY OF SAN LEANDRO AND AMERICAN GOLF PAGE 12 11/13/97 FINAI, J:\WPD\CSL\13o101WGREE\GOLFCOUR\,~.GREEU,EASE.CLN