Common use of Accounting, Financial Records, and Audits Clause in Contracts

Accounting, Financial Records, and Audits. (a) Lakes, through the Project's general manager, shall maintain full and accurate records and books of account for operations of gaming activities and related ancillary operations managed by Lakes. Such records shall be maintained at Lakes' office located within the Project Facilities and shall be made available for immediate inspection and verification at all times. Inspection or verification by the Governmental Authorities shall be coordinated through the Gaming Commission. (b) Prior to the Commencement Date, and subject to the approval of Pawnee and the Gaming Commission, which approvals shall not be unreasonably withheld and which shall occur prior to the Commencement Date, Lakes, through the Project's general manager, shall establish and maintain such approved accounting systems and procedures that shall: (i) include procedures for internal accounting controls; (ii) permit the preparation of financial statements in accordance with GAAP ; (iii) be susceptible to audit; (iv) allow the Project, Pawnee and NIGC to calculate the annual fee under 25 CFR Section 514.1; (v) permit the calculation of Lakes' compensation under Section 5.5(b) herein; and (vi) provide for the allocation of operating expenses or overhead expenses among Pawnee, the Project and Lakes, or any other user of shared facilities or services. Supporting records and the agreed upon accounting system shall be sufficiently detailed to permit the calculation and payment of Lakes' compensation hereunder and to permit the performance of any fee or contribution computations required under IGRA, a Tribal-State Compact and other applicable laws or regulations. (c) Net Gaming Revenues, Net Ancillary Revenues, and Net Total Revenues will be calculated by Lakes, through the Project's general manager, for purposes of distribution monthly in accordance with Section 5.5 and copies of such calculations shall be promptly supplied to Pawnee as required by Section 5.4 herein. (d) All records shall be maintained so as to permit the preparation of financial statements in accordance with generally accepted accounting principles consistently applied and in accordance with procedures to be mutually agreed upon by the parties. Lakes, through the Project's general manager, shall, as a Costs of Gaming Operations, furnish to Pawnee and the Gaming Commission, monthly financial reports in accordance with Section 5.4 herein. Such reports shall provide reasonable detail as requested by Pawnee and the Gaming Commission with respect to revenues and expenses of each profit center of the Project. In addition, all gaming operations conducted within the Gaming Facility shall be subject to special outside annual audits, which the Gaming Commission may cause to be conducted, and all contracts or subcontracts for supplies, services or concessions for a contract amount in excess of $25,000 annually relating to gaming activities within the Gaming Facility shall be subject to audits, which audits the Gaming Commission may cause to conducted by an independent certified public accountant from a Big Five accounting firm with more than five (5) years experience in audits of gaming enterprise operations selected and approved by the Gaming Commission. The cost of such audits and audit reports (including the annual audit under Section 5.6 herein) shall constitute Costs of Gaming Operation. The Lakes shall make any reports or presentations to Pawnee officials as are requested.

Accounting, Financial Records, and Audits. (a) Lakes, through the Project's general manager, Manager shall maintain full and accurate records and books of account for operations of gaming activities and related ancillary operations managed by LakesManager. Such records shall be maintained at Lakes' Manager's office located within the Project Facilities Facility and shall be made available for immediate inspection and verification at all timestimes as required by a Tribal-State Compact, the Tribal Council or its designated representative, the Gaming Commission or IGRA. Inspection or verification by the Governmental Authorities shall be coordinated through the Gaming Commission. (b) Prior At least three months prior to the Commencement Date, and subject to the approval of Pawnee the Tribal Council and the Gaming Commission, which approvals shall not be unreasonably withheld and which shall occur prior to the Commencement Date, Lakes, through the Project's general manager, Manager shall establish and maintain such approved accounting systems and procedures that shall: (i) include procedures for internal accounting controls; (ii) permit the preparation of financial statements in accordance with GAAP ; (iii) be susceptible to audit; (iv) allow the ProjectEnterprise, Pawnee the Tribe and NIGC to calculate the annual fee under 25 CFR Section 514.1ss.514.1; (v) permit the calculation of Lakes' Manager's compensation under Section 5.5(b) herein; and (( vi) provide for the allocation of operating expenses or overhead expenses among Pawneethe Tribe, the Project Enterprise and LakesManager, or any other user of shared facilities or services. Supporting records and the agreed upon accounting system shall be sufficiently detailed to permit the calculation and payment of Lakes' compensation Manager's fee hereunder and to permit the performance of any fee or contribution computations required under IGRA, a Tribal-State Compact and other applicable laws or regulations. (c) Net Gaming Revenues, Net Ancillary Incidental Revenues, and Net Total Revenues will be calculated by Lakes, through the Project's general manager, Manager for purposes of distribution monthly in accordance with Section 5.5 and copies of such calculations shall be promptly supplied to Pawnee the Tribal Council as required by Section 5.4 herein. (d) All records shall be maintained so as to permit the preparation of financial statements in accordance with generally accepted accounting principles consistently applied and in accordance with procedures to be mutually agreed upon by the parties. Lakes, through the Project's general manager, Manager shall, as a Costs of Gaming Operations, furnish to Pawnee the Tribe and the Gaming Commission, monthly financial reports in accordance with Section 5.4 herein. Such reports shall provide reasonable detail as requested by Pawnee the Tribe and the Gaming Commission with respect to revenues and expenses of each profit center of the ProjectEnterprise. In addition, all gaming operations conducted within the Gaming Facility shall be subject to special outside annual audits, which the Gaming Commission may cause to be conducted, and all contracts or subcontracts for supplies, services or concessions for a contract amount in excess of $25,000 annually relating to gaming activities within the Gaming Facility shall be subject to audits, which audits the Gaming Commission may cause to conducted by an independent certified public accountant from a Big Five accounting firm with more than five (5) years experience in audits of gaming enterprise operations selected and approved by the Gaming Commission. The audits will be scheduled at times agreed upon by the Gaming Commission and Manager. The cost of such audits and audit reports (including the annual audit under Section 5.6 herein) shall constitute Costs of Gaming Operation. The Lakes Manager shall make any reports or presentations to Pawnee officials the Tribal Council as are requestedrequested by the Tribe.

Accounting, Financial Records, and Audits. (a) Lakes, through the Project's general manager, Manager shall maintain full and accurate records and books of account for operations of gaming activities and related ancillary operations managed by LakesManager. Such records shall be maintained at Lakes' Manager's office located within the Project Facilities Facility and shall be made available for immediate inspection and verification at all reasonable times, including during hours of operation, as required by the Tribal-State Compact, the Tribal Council or its designated representative, the Gaming Control Board or IGRA. Inspection or verification by the Governmental Authorities shall be coordinated through the Gaming CommissionControl Board. (b) Prior to the Commencement Date, and subject Subject to the approval of Pawnee the Tribal Council and the Gaming CommissionControl Board, which approvals shall not be unreasonably withheld and which shall should occur prior to within three months of commencement of the Commencement Dateconstruction of the Facility, Lakes, through the Project's general manager, Manager shall establish and maintain such approved accounting systems and procedures that shall: (i) include procedures for internal accounting controls; (ii) permit the preparation of financial statements in accordance with GAAP generally accepted accounting principles; (iii) be susceptible to audit; and (iv) allow the Project, Pawnee and NIGC to calculate the annual fee under 25 CFR Section 514.1; (v) permit the calculation of Lakes' compensation under Section 5.5(b) herein; and (vi) provide for the allocation of operating expenses or overhead expenses among Pawneethe Tribe, the Project Enterprise and LakesManager, or any other user of shared facilities or services. Supporting records and the agreed upon accounting system shall be sufficiently detailed to permit the calculation and payment of Lakes' compensation Manager's fee hereunder and to permit the performance of any fee or contribution computations required under IGRA, a the Tribal-State Compact and other applicable laws or regulations. (c) Net Gaming Revenues, Net Ancillary Incidental Revenues, and Net Total Revenues will be calculated by Lakes, through the Project's general manager, for purposes of distribution monthly in accordance with Section 5.5 and copies of such calculations shall be promptly supplied to Pawnee as required by Section 5.4 herein6.5. (d) All records shall be maintained so as to permit the preparation of financial statements in accordance with generally accepted accounting principles consistently applied and in accordance with procedures to be mutually agreed upon by the parties. Lakes, through the Project's general manager, Manager shall, as a Costs of Gaming Operations, furnish to Pawnee the Tribe, and the Gaming CommissionControl Board, monthly financial reports in accordance with Section 5.4 herein. Such reports shall provide reasonable detail as requested by Pawnee and the Gaming Commission with respect to revenues and expenses of each profit center of the Project. In addition, all gaming operations conducted within the Gaming Facility shall be subject to special outside annual audits, which the Gaming Commission may cause to be conducted, and all contracts or subcontracts for supplies, services or concessions for a contract amount in excess of $25,000 annually relating to gaming activities within the Gaming Facility shall be subject to audits, which audits the Gaming Commission may cause to conducted by an independent certified public accountant from a Big Five accounting firm with more than five (5) years experience in audits of gaming enterprise operations selected and approved by the Gaming Commission. The cost of such audits and audit reports (including the annual audit under Section 5.6 herein) shall constitute Costs of Gaming Operation. The Lakes shall make any reports or presentations to Pawnee officials as are requested6.

Accounting, Financial Records, and Audits. (a) Lakes, through the Project's general manager, LKAR shall maintain full and accurate records and books of account for operations of gaming activities and related ancillary incidental operations managed by Lakeshereunder. Such records shall be maintained at Lakes' the Enterprise's general manager's office located within the Project Facilities Facility and shall be made available for immediate inspection and verification at all times. Inspection or verification by the Governmental Authorities shall be coordinated through the Tribal Gaming Commission. (b) Prior At least three months prior to the Commencement Date, and subject to the approval of Pawnee the Tribal Council and the Tribal Gaming Commission, which approvals shall not be unreasonably withheld and which shall occur prior to the Commencement Date, Lakes, through the Project's general manager, LKAR shall establish and maintain such approved accounting systems and procedures that shall: (i) include procedures for internal accounting controls; (ii) permit the preparation of financial statements in accordance with GAAP generally accepted accounting principles; (iii) be susceptible to audit; (iv) allow the ProjectEnterprise, Pawnee the Tribe and NIGC to calculate the annual fee under 25 CFR Section 514.1; (v) permit the calculation of Lakes' LKAR's compensation under Section 5.5(b6.5(b) herein; and (vi) provide for the allocation of operating expenses or overhead expenses among Pawneethe Tribe, the Project Enterprise and LakesLKAR, or any other user of shared facilities or services. Supporting records and the agreed upon accounting system shall be sufficiently detailed to permit the calculation and payment of Lakes' compensation hereunder and to permit the performance of any fee or contribution computations required under IGRA, a the Tribal-State Compact and other applicable laws or regulations. (c) Net Gaming Revenues, Net Ancillary Incidental Revenues, and Net Total Revenues will be calculated by Lakes, through the Project's general manager, LKAR for purposes of distribution monthly in accordance with Section 5.5 6.5 and copies of such calculations shall be promptly supplied to Pawnee the Tribal Council as required by Section 5.4 6.4 herein. (d) All records shall be maintained so as to permit the preparation of financial statements in accordance with generally accepted accounting principles consistently applied and in accordance with procedures to be mutually agreed upon by the parties. Lakes, through the Project's general manager, LKAR shall, as a Costs of Gaming Operations, furnish to Pawnee the Tribe and the Tribal Gaming Commission, monthly financial reports in accordance with Section 5.4 herein6.4. Such reports shall provide reasonable detail as requested by Pawnee the Tribe and the Tribal Gaming Commission with respect to revenues and expenses of each profit center of the ProjectEnterprise. In addition, all gaming operations conducted within the Gaming Facility shall be Shingle Springs Development/Management Contract 10/13/03 revision subject to special outside annual audits, which the Tribal Gaming Commission may cause to be conducted, and all contracts or subcontracts for supplies, services or concessions for a contract amount in excess of $25,000 annually relating to gaming activities within the Gaming Facility shall be subject to audits, audits which audits the Tribal Gaming Commission may cause to conducted by an independent certified public accountant from a Big Five accounting firm with more than five (5) years experience in audits of gaming enterprise operations selected and approved by the Tribal Gaming Commission. The cost of such audits and audit reports (including the annual audit under Section 5.6 herein6.6) shall constitute Costs of Gaming OperationOperations. The Lakes LKAR, shall make any reports or presentations to Pawnee officials the Tribal Council as are requestedrequested by the Tribe.

Accounting, Financial Records, and Audits. (a) Lakes, through the Project's general manager, shall maintain full and accurate records and books of account for operations of gaming activities and related ancillary operations managed by Lakes. Such records shall be maintained at Lakes' office located within the Project Facilities and shall be made available for immediate inspection and verification at all times. Inspection or verification by the Governmental Authorities shall be coordinated through the Gaming Commission. (b) Prior to the Commencement Date, and subject to the approval of Pawnee Iowa Corp and the Gaming Commission, which approvals shall not be unreasonably withheld and which shall occur prior to the Commencement Date, Lakes, through the Project's general manager, shall establish and maintain such approved accounting systems and procedures that shall: (i) include procedures for internal accounting controls; (ii) permit the preparation of financial statements in accordance with GAAP ; (iii) be susceptible to audit; (iv) allow the Project, Pawnee Iowa Corp and NIGC to calculate the annual fee under 25 CFR Section 514.1; (v) permit the calculation of Lakes' compensation under Section 5.5(b) herein; and (vi) provide for the allocation of operating expenses or overhead expenses among PawneeIowa Corp, the Project and Lakes, or any other user of shared facilities or services. Supporting records and the agreed upon accounting system shall be sufficiently detailed to permit the calculation and payment of Lakes' compensation hereunder and to permit the performance of any fee or contribution computations required under IGRA, a Tribal-State Compact and other applicable laws or regulations. (c) Net Gaming Revenues, Net Ancillary Revenues, and Net Total Revenues will be calculated by Lakes, through the Project's general manager, for purposes of distribution monthly in accordance with Section 5.5 and copies of such calculations shall be promptly supplied to Pawnee Iowa Corp as required by Section 5.4 herein. (d) All records shall be maintained so as to permit the preparation of financial statements in accordance with generally accepted accounting principles consistently applied and in accordance with procedures to be mutually agreed upon by the parties. Lakes, through the Project's general manager, shall, as a Costs of Gaming Operations, furnish to Pawnee Iowa Corp and the Gaming Commission, monthly financial reports in accordance with Section 5.4 herein. Such reports shall provide reasonable detail as requested by Pawnee Iowa Corp and the Gaming Commission with respect to revenues and expenses of each profit center of the Project. In addition, all gaming operations conducted within the Gaming Facility shall be subject to special outside annual audits, which the Gaming Commission may cause to be conducted, and all contracts or subcontracts for supplies, services or concessions for a contract amount in excess of $25,000 annually relating to gaming activities within the Gaming Facility shall be subject to audits, which audits the Gaming Commission may cause to conducted by an independent certified public accountant from a Big Five accounting firm with more than five (5) years experience in audits of gaming enterprise operations selected and approved by the Gaming Commission. The cost of such audits and audit reports (including the annual audit under Section 5.6 herein) shall constitute Costs of Gaming Operation. The Lakes shall make any reports or presentations to Pawnee Iowa Corp officials as are requested.

Accounting, Financial Records, and Audits. (a) Lakes, through the Project's general manager, shall maintain full and accurate records and books of account for operations of gaming activities and related ancillary operations managed by Lakes. Such records shall be maintained at Lakes' office located within the Project Facilities and shall be made available for immediate inspection and verification at all times. Inspection or verification by the Governmental Authorities shall be coordinated through the Gaming Commission. (b) Prior to the Commencement Date, and subject to the approval of Pawnee Iowa Corp and the Gaming Commission, which approvals shall not be unreasonably withheld and which shall occur prior to the Commencement Date, Lakes, through the Project's general manager, shall establish and maintain such approved accounting systems and procedures that shall: (i) include procedures for internal accounting controls; (ii) permit the preparation of financial statements in accordance with GAAP GAAP; (iii) be susceptible to audit; (iv) allow the Project, Pawnee Iowa Corp and NIGC to calculate the annual fee under 25 CFR Section 514.1; (v) permit the calculation of Lakes' compensation under Section 5.5(b) herein; and (vi) provide for the allocation of operating expenses or overhead expenses among PawneeIowa Corp, the Project and Lakes, or any other user of shared facilities or services. Supporting records and the agreed upon accounting system shall be sufficiently detailed to permit the calculation and payment of Lakes' compensation hereunder and to permit the performance of any fee or contribution computations required under IGRA, a Tribal-State Compact and other applicable laws or regulations. (c) Net Gaming Revenues, Net Ancillary Revenues, and Net Total Revenues will be calculated by Lakes, through the Project's general manager, for purposes of distribution monthly in accordance with Section 5.5 and copies of such calculations shall be promptly supplied to Pawnee Iowa Corp as required by Section 5.4 herein. (d) All records shall be maintained so as to permit the preparation of financial statements in accordance with generally accepted accounting principles consistently applied and in accordance with procedures to be mutually agreed upon by the parties. Lakes, through the Project's general manager, shall, as a Costs of Gaming Operations, furnish to Pawnee Iowa Corp and the Gaming Commission, monthly financial reports in accordance with Section 5.4 herein. Such reports shall provide reasonable detail as requested by Pawnee Iowa Corp and the Gaming Commission with respect to revenues and expenses of each profit center of the Project. In addition, all gaming operations conducted within the Gaming Facility shall be subject to special outside annual audits, which the Gaming Commission may cause to be conducted, and all contracts or subcontracts for supplies, services or concessions for a contract amount in excess of $25,000 annually relating to gaming activities within the Gaming Facility shall be subject to audits, which audits the Gaming Commission may cause to conducted by an independent certified public accountant from a Big Five accounting firm with more than five (5) years experience in audits of gaming enterprise operations selected and approved by the Gaming Commission. The cost of such audits and audit reports (including the annual audit under Section 5.6 herein) shall constitute Costs of Gaming Operation. The Lakes shall make any reports or presentations to Pawnee Iowa Corp officials as are requested.

Accounting, Financial Records, and Audits. (a) Lakes, through the Project's general manager, shall maintain full and accurate records and books of account for operations of gaming activities and related ancillary operations managed by Lakes. Such records shall be maintained at Lakes' office located within the Project Facilities and shall be made available for immediate inspection and verification at all times. Inspection or verification by the Governmental Authorities shall be coordinated through the Gaming Commission. (b) Prior to the Commencement Date, and subject to the approval of Pawnee Kickapoo and the Gaming Commission, which approvals shall not be unreasonably withheld and which shall occur prior to the Commencement Date, Lakes, through the Project's general manager, shall establish and maintain such approved accounting systems and procedures that shall: (i) include procedures for internal accounting controls; (ii) permit the preparation of financial statements in accordance with GAAP ; (iii) be susceptible to audit; (iv) allow the Project, Pawnee Kickapoo and NIGC to calculate the annual fee under 25 CFR Section 514.1; (v) permit the calculation of Lakes' compensation under Section 5.5(b) herein; and (vi) provide for the allocation of operating expenses or overhead expenses among PawneeKickapoo, the Project and Lakes, or any other user of shared facilities or services. Supporting records and the agreed upon accounting system shall be sufficiently detailed to permit the calculation and payment of Lakes' compensation hereunder and to permit the performance of any fee or contribution computations required under IGRA, a Tribal-State Compact and other applicable laws or regulations. (c) Net Gaming Revenues, Net Ancillary Revenues, and Net Total Revenues will be calculated by Lakes, through the Project's general manager, for purposes of distribution monthly in accordance with Section 5.5 and copies of such calculations shall be promptly supplied to Pawnee Kickapoo as required by Section 5.4 herein. (d) All records shall be maintained so as to permit the preparation of financial statements in accordance with generally accepted accounting principles consistently applied and in accordance with procedures to be mutually agreed upon by the parties. Lakes, through the Project's general manager, shall, as a Costs of Gaming Operations, furnish to Pawnee Kickapoo and the Gaming Commission, monthly financial reports in accordance with Section 5.4 herein. Such reports shall provide reasonable detail as requested by Pawnee Kickapoo and the Gaming Commission with respect to revenues and expenses of each profit center of the Project. In addition, all gaming operations conducted within the Gaming Facility shall be subject to special outside annual audits, which the Gaming Commission may cause to be conducted, and all contracts or subcontracts for supplies, services or concessions for a contract amount in excess of $25,000 annually relating to gaming activities within the Gaming Facility shall be subject to audits, which audits the Gaming Commission may cause to conducted by an independent certified public accountant from a Big Five accounting firm with more than five (5) years experience in audits of gaming enterprise operations selected and approved by the Gaming Commission. The cost of such audits and audit reports (including the annual audit under Section 5.6 herein) shall constitute Costs of Gaming Operation. The Lakes shall make any reports or presentations to Pawnee Kickapoo officials as are requested.