Accounting and Finance. 2.1 Charge, collect, demand and recover from subsidiary proprietors management fund and sinking fund contributions, interest and sums of money payable from time to time and issue reminders to recalcitrant debtors. All xxxxxxxx shall be made periodically as directed by the Management Corporation.
2.2 Ensure that all charges, expenses, disbursements and such other outgoings whatsoever from time to time payable and duly approved by the Management Corporation for or on account of the said Property or any part thereof, are duly paid and discharged.
2.3 Keep and operate a complete and accurate set of accounts and a register of assets purchased by the Management Council.
2.4 Certify and keep proper records and account of all monies collected and expended or outstanding or accruing in respect of the management and maintenance of the said Property and ensure that such records and books of account are made available at all reasonable times for inspection as directed by the Management Corporation.
2.5 Prepare monthly Statement of Accounts in respect of all monies collected and expended or outstanding or accruing and submit the statement together with records of the same to the Management Corporation. Advise the Management Corporation on the financial status and course of action to be taken.
2.6 Ensure that xxxxx cash be limited to an amount as approved by the Management Corporation.
2.7 Liaise with auditors of the Management Corporation to have the accounts audited yearly as required by the Act and/or as directed by Management Corporation and with the Management Corporation's solicitors for the recovery of all debts and monies due.
2.8 Liaise as directed by the Management Corporation, with the Management Corporation's solicitors for the recovery of all debts and monies due and owing by the subsidiary proprietors/residents/contractors etc. The costs of legal fees in connection therewith are to be borne by the Management Corporation.
2.9 Check and certify the routine maintenance work done by contractors, purchases, etc. and make recommendations for payment.
2.10 Assist the Management Corporation to appoint relevant consultants in tax matters, if any, and liaise with the Inland Revenue Department on tax matters. Attendance at court hearings will be subject to a separate charge.
Accounting and Finance. To provide for appropriate records of the Line's financial position to be maintained in the Agent's books, which shall be available for inspection as required and to prepare periodic financial statements as may be reasonably required.
Accounting and Finance. Treasurer R. Rxxxxxxxx 2 2
Accounting and Finance. 4.1 The Agent undertakes and agrees with Clarksons at all times during the Term:
4.1.1 to properly maintain in accordance with generally accepted international accounting practice all records of Clarksons’ financial position concerning the obligations undertaken by the Agent under this Agreement on Clarksons’ behalf and to make such records promptly available for inspection by Clarksons on request; and
4.1.2 to check all vouchers received from Service Providers and to prepare promptly a proper, accurate and true disbursement account in respect of each voyage or accounting period in an agreed format, with timing and delivery as per Clarksons’ instructions or if there are no instructions, as reasonably expected.
4.2 The Agent undertakes to use any funds which have been advanced to the Agent by Clarksons for the disbursements pertaining to the Services only. The Agent shall only utilise such funds towards matters relating to that specific port call for which funds have been advanced and the Agent shall not be entitled to set-off such funds against any other claims, dues or other matters in dispute that the Agent has towards Clarksons or Clarksons Affiliate or Principal or Principal Affiliate, nor shall the Agent be entitled to appropriate such funds towards any other liabilities of the Agent in its business.
Accounting and Finance. 3.4.1 The Company has the accounting books recorded, accounting items arranged, evidential vouchers and books kept, invoices issued and collected in accordance with the laws and generally accepted accounting principles of PRC.
3.4.2 The balance sheets, profit and loss sheets and other relevant accounting statements as of December 31, 2004 and the same as of May 31, 2005 (as specified in Appendix B herein) and other relevant accounting statements ("Accounting Statements"):
(1) Accounting Statements are made in compliance with the applicable laws and PRC generally accepted accounting principles;
(2) Subject to subsection (1) above, the Accounting Statements are made in consistent with the internal accounting rules and practice of the Company.
(3) The Accounting Statements are in all aspects accurate, complete and have no material mistakes or errors;
(4) The Accounting Statements truly, completely and fairly shows the assets and debts of the Company as of December 31, 2004, and May 31, 2005, and the profit or loss of the Company in the accounting period covered by the Accounting Statements; and
(5) All the actual or contingent debts of the Company are disclosed by the Accounting Statements.
Accounting and Finance. (a) Maintain and administer all accounting or finance records. Continue to work with the outsource accounting firm every work day, prepare monthly financial statements and perform analytic review. Help prepare audit work schedules quarterly and at year-end, or as otherwise needed. Prepare all severance tax and other governmental reports in a timely manner. Provide review and/or training for Eagle Rock personnel in current processes. Assist in data conversion of systems. Complete other tasks related to the normal course of business within accounting or finance duties.
Accounting and Finance. 5.1 The Agent undertakes and agrees with Xxxxxxxxxx Port Services at all times during the Term:
(i) to properly maintain in accordance with generally accepted international accounting practice all records of Wilhelmsen Port Services’ financial position concerning the obligations undertaken by the Agent under this Agreement on Wilhelmsen Port Services’ behalf and to make such records promptly available for inspection by Xxxxxxxxxx Port Services on request; and
(ii) to check all vouchers received from Service Providers and to prepare promptly a proper, accurate and true disbursement account in respect of each voyage or accounting period in an agreed format, with timing and delivery as per Xxxxxxxxxx Port Services’ instructions or if there are no instructions, as reasonably expected.
5.2 The Agent undertakes to use any funds which have been advanced to the Agent by Xxxxxxxxxx Port Services for the disbursements pertaining to the Services only. The Agent shall only utilise such funds towards matters relating to that specific port call for which funds have been advanced and the Agent shall not be entitled to set-off such funds against any other claims, dues or other matters in dispute that the Agent has towards Wilhelmsen Port Services or Xxxxxxxxxx Port Services Affiliate or Principal or Principal Affiliate, nor shall the Agent be entitled to appropriate such funds towards any other liabilities of the Agent in its business.
Accounting and Finance. IGC shall have the rights as set out in Exhibit C. Such rights shall be incorporated into the Operating Agreement of GLPRI.
Accounting and Finance. 3.1 The creation of a fixed or floating charge, lien (other than a retention of title provision arising in the ordinary course of trading or a lien arising by operation of law) or other encumbrance over all or part of its undertaking or assets.
3.2 The giving of an Encumbrance or guarantee or indemnity to secure the liabilities or obligations of any person.
3.3 The borrowing or incurring any other indebtedness or liability in the nature of borrowing or leasing or hire purchase or similar financial arrangements other than pursuant to the Facility Agreement or in the ordinary course of trading and in accordance with the annual budget of the Company approved by the ‘A’ Directors.
3.4 At any time before the repayment of the Loan, the declaration or payment of a dividend or other payment out of the distributable profits other than a dividend or other payment out of distributable profits by a wholly owned Subsidiary Undertaking of the Company or another of its wholly-owned Subsidiaries.
3.5 The approval of the annual business plan and budget for the ensuing financial year and all material variations to the business plan or budget in any year.
3.6 The alteration of the accounting reference date.
3.7 The making of a loan or advance or the giving of credit (other than normal trade credit) in excess of £5,000 to any person.
Accounting and Finance. 5.1 The Agent undertakes and agrees with WSS at all times during the Term:
(i) to properly maintain in accordance with generally accepted international accounting practice all records of WSS’ financial position concerning the obligations undertaken by the Agent under this Agreement on WSS’ behalf and to make such records promptly available for inspection by WSS on request; and
(ii) to check all vouchers received from Service Providers and to prepare promptly a proper, accurate and true disbursement account in respect of each voyage or accounting period in an agreed format, with timing and delivery as per WSS’ instructions or if there are no instructions, as reasonably expected.
5.2 The Agent undertakes to use any funds which have been advanced to the Agent by WSS for the disbursements pertaining to the Services only. The Agent shall only utilise such funds towards matters relating to that specific port call for which funds have been advanced and the Agent shall not be entitled to set-off such funds against any other claims, dues or other matters in dispute that the Agent has towards WSS or WSS Affiliate or Principal or Principal Affiliate, nor shall the Agent be entitled to appropriate such funds towards any other liabilities of the Agent in its business.
