Examples of Accounting Periods in a sentence
There are 4 three-month Accounting Periods in each Lease Term Year.
In respect of subsequent Accounting Periods this shall be a period commencing on the day following an Accounting Date and ending on the next Accounting Date.
Notwithstanding the foregoing, the UG hereby agrees that it shall reimburse Manager for an amount up to One Hundred Fifty Thousand Dollars ($150,000) in connection with expenses incurred during the period commencing sixty (60) days prior to the estimated Grand Opening and the first two (2) Quarterly Accounting Periods with respect to such Grand Opening (the “Grand Opening Fund”).
Notwithstanding the foregoing, in the event that Manager meets or exceeds the Quarterly Sales Stabilization Benchmarks for four (4) consecutive Quarterly Accounting Periods during the Stabilization Period, all funds in Stabilization Fund Reserve Account will immediately vest in the UG, the UG shall have the sole right to access and use the funds remaining funds in the Stabilization Fund Reserve Account, and Manager shall have no further right to access the Stabilization Fund Reserve Account.
The General Partner may modify the above Accounting Period and also establish other Accounting Periods.