Common use of Accounting and Administrative Clause in Contracts

Accounting and Administrative. The Manager shall: 2.5.1. Maintain the books and records of the Company; 2.5.2. Manage, perform, and/or supervise the various administrative functions necessary for the day-to-day operations of the Company; 2.5.3. Provide or arrange for administrative services, legal services, office space, office furnishings, personnel and other overhead items necessary and incidental to the Company’s business and operations; 2.5.4. Collect, maintain, and distribute information as required by law; 2.5.5. Oversee tax and compliance services and risk management services and coordinate with appropriate third parties, including independent accountants and other consultants, on related tax matters; 2.5.6. Maintain appropriate technology systems for the operations of the Company; 2.5.7. Make, change, and revoke such tax elections on behalf of the Company as the Manager deems appropriate, including, without limitation, (i) making an election be treated as a REIT or to revoke such status, and (ii) making an election to be classified as an association taxable as a corporation for U.S. federal income tax purposes; 2.5.8. Comply with the requirements of all governmental agencies, including the Securities and Exchange Commission; and 2.5.9. Oversee all reporting, record keeping, internal controls and similar matters in a manner to allow the Company to comply with applicable law.