Common use of Accounting; Books and Records; Reports Clause in Contracts

Accounting; Books and Records; Reports. The Manager shall establish such books, records and accounts for the Fund as are required by law and as are customary for businesses similarly situated and as accurately reflect the financial condition of the Fund and the results of its operations in accordance with generally accepted accounting principles consistently applied. The books and records of the Fund may be inspected and/or copied by any Member, at the Member’s own expense, during ordinary business hours and for proper purposes. The Manager shall prepare and provide the Members with (i) such monthly written reports of the Fund’s results of operation as the Manager in its discretion deems appropriate and (ii) audited annual financial statements within 150 days after the close of each fiscal year.

Accounting; Books and Records; Reports. The Manager shall establish such books, records and accounts for the Fund as are required by law and as are customary for businesses similarly situated and as accurately reflect the financial condition of the Fund and the results of its operations in accordance with generally accepted accounting principles consistently applied. The books and records of the Fund may be inspected and/or copied by any Member, at the Member’s own expense, during ordinary business hours and for proper purposes. The Manager shall at prepare and provide the Members with (i) such monthly written reports of the Fund’s results of operation as the Manager in its discretion deems appropriate and (ii) audited annual financial statements within 150 days after the close of each fiscal year.