Common use of Accounting and Other Expenses Clause in Contracts

Accounting and Other Expenses. All out-of-pocket expenses payable to Persons, including Affiliates of the Administering General Partner that are retained in accordance with the terms of this Agreement, in connection with the keeping of the books and records of the Partnership and the preparation of audited or unaudited financial statements and federal and local tax and information returns required to implement the provisions of this Agreement or required by any governmental authority with jurisdiction over the Partnership or otherwise required to be paid in connection with the management or operation of the Partnership shall be borne by the Partnership as an ordinary expense of its business. The Partnership shall reimburse the Administering General Partner's consultants for the preparation of K-1's, and federal and local tax and information returns.