Common use of Accounting and Audit Procedures Clause in Contracts

Accounting and Audit Procedures. (i) The Borrower shall establish fiscal controls and accounting procedures sufficient to assure proper accounting for all (A) Gross Revenues, operating expenses, capital expenses, depreciation, reserves, debt issued and outstanding and debt payments and (B) Project-related costs, WIFIA Credit Facility requisitions submitted, WIFIA Credit Facility proceeds received, payments made by the Borrower with regard to the Project, and other sources of funding for the Project (including amounts paid from such sources for Project costs so that audits may be performed to ensure compliance with and enforcement of this Agreement). The Borrower shall use accounting, audit and fiscal procedures conforming to GAAP, including, with respect to the WIFIA Credit Facility, accounting of principal and interest payments, disbursements, prepayments and calculation of interest and principal amounts Outstanding.

Accounting and Audit Procedures. (i) The Borrower shall establish fiscal controls and accounting procedures sufficient to assure proper accounting for all (A) Gross Revenues, operating expenses, capital expenses, depreciation, reserves, debt issued and outstanding and debt payments and (B) Project-related costs, WIFIA Credit Facility requisitions Requisitions submitted, WIFIA Credit Facility Loan proceeds received, payments made by the Borrower with regard respect to the Project, and other sources of funding for the Project (including amounts paid from such sources for Project costs so that audits may be performed to ensure compliance with and enforcement of this Agreement). The Borrower shall use accounting, audit and fiscal procedures conforming to GAAP, including, with respect to the WIFIA Credit FacilityLoan, accounting of principal and interest payments, disbursements, prepayments and calculation of interest and principal amounts Outstanding.

Accounting and Audit Procedures. (i) The Borrower shall establish fiscal controls and accounting procedures sufficient to assure proper accounting for all (A) Gross Net Revenues, operating expensesOperating Expenses, capital expenses, depreciation, reserves, debt issued and outstanding and debt payments and (B) Project-related costs, WIFIA Credit Facility Loan requisitions submitted, WIFIA Credit Facility Loan proceeds received, payments made by the Borrower with regard to the ProjectProjects, and other sources of funding for the Project Projects (including amounts paid from such sources for Project costs so that audits may be performed to ensure compliance with and enforcement of this Agreement). The Borrower shall use accounting, audit and fiscal procedures conforming to GAAP, including, with respect to the WIFIA Credit FacilityLoans, accounting of principal and interest payments, disbursements, prepayments and calculation of interest and principal amounts Outstanding.