Extract to table

6 of each FLA provides that any late payments by the franchisee shall accrue interest at a rate of 1

Under each FLA, the franchisee is required to report GRR to Verimark on a monthly basis, on or before the fifteenth day of the month following the reporting period

The monthly GRR report must set forth total GRR by booking channel and must be certified as accurate by an authorized representative of the franchisee

The FLA further provides that if an audit reveals an underpayment exceeding 2% of reported GRR for the audited period, the franchisee shall bear all reasonable costs of the audit, in addition to the obligation to promptly remit any underpaid amounts with interest

2(c) of each FLA provides that "systematic underreporting of Gross Room Revenue shall constitute a material breach that is incapable of cure

3, providing that "no waiver of any breach or default hereunder shall be deemed a waiver of any subsequent breach or default, whether of the same or a different provision