Accounting Matters and Fiscal Periods Sample Clauses

Accounting Matters and Fiscal Periods. (a) Manager shall maintain books and records reflecting the results of Hotel operations in accordance with the Accounting Principles. In consideration thereof, Manager shall be paid the Accounting Fee as provided in Article 8. Owner and Manager and their respective independent accounting firms will have the right to examine such books and records of the Hotel at any reasonable time and to make and retain copies thereof at the requesting party’s expense. (b) At Owner’s election but as an Ownership Cost, a certified audit of the Hotel operations may be performed annually, and after the Expiration Date, by a nationally recognized, independent Certified Public Accounting firm appointed by Owner and approved by Manager, such approval not to be unreasonably withheld or delayed. In the event that Owner elects to have such an audit performed, Owner must give notice of its election within sixty (60) days after the end of the Fiscal Year, or within sixty (60) days after the Expiration Date of this Agreement, as the case may be. (c) On or before the twenty-fifth (25th) day after the close of each Fiscal Month, Manager shall furnish Owner with a detailed operating statement setting forth the results of Hotel operations with respect to such month. Attached hereto as Exhibit “B” is a form of the operating statement currently utilized by Manager which reflects the results of the prior month as well as the cumulative Fiscal Year-to-date results of operations. Owner acknowledges that the form of the operating statement may be modified from time to time by Manager as it determines appropriate for all hotels operated by it. In the event that either no notice of audit is given within 60 days, or no audit is in fact commenced within 120 days after the end of the Fiscal Year, the year-end operating statement will constitute the final statement for that Fiscal Year, deemed to have been approved by Owner.
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Accounting Matters and Fiscal Periods. (a) The books and records for the Trade Name Operations, as well as the House F&B Operations, will be kept by Hotel Manager in accordance with the Uniform System of Accounts for Hotels as amended from time to time. Such books and records shall be maintained by Hotel Manager either at the Hotel or at the regional accounting office of Hotel Manager which serves the Hotel. Hotel Manager will continue to provide accounting services for payroll, capital purchases, and profit and loss/operating statement generation. The cost of accounting services will not be a deduction in computing Departmental Profits (as hereinafter defined). (b) Food Manager may, within six (6) months after receipt of year-end statistics and financial reports from Hotel Manager, and upon no less than fifteen (15) days notice to Hotel Manager and Owner, at Food Manager's expense, conduct an audit of the books and records of Hotel Manager pertaining to Total F&B Department Revenue, Departmental Profits (as hereinafter defined), Gross Operating Profit (as hereinafter defined) and any other matters relevant to the operating results of the F&B Department and the calculation of Food Manager's compensation hereunder. In making such audit, Food Manager shall have the right to examine Hotel Manager's records only for the Year just ended. If an audit or examination by Food Manager shall show that Food Manager's compensation for the period covered by the audit has been overpaid, the excess shall be applied to any amounts then due to Food Manager by Hotel Manager and the balance, if any, shall promptly be refunded by Food Manager to Hotel Manager. If an audit or an examination by Food Manager shall show that Food Manager's compensation for the period covered by the audit has been underpaid, Hotel Manager shall promptly pay to Food Manager the amount of the difference between the amount previously paid and the correct amount due.
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Accounting Matters and Fiscal Periods. The books and records reflecting the Project operations shall be kept by Project Manager in accordance with the Generally Accepted Accounting Principles applied on a consistent basis, and shall be maintained at the Project. Company's, Lily Pond's, and Project Manager' s independent accounting firms shall each have the right and privilege of examining the books and records of the Project upon reasonable prior notice to Project Manager.
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Accounting Matters and Fiscal Periods. (i) At the cost and expense of the Company, the Manager shall cause an audit of the Company’s annual financial statements to be performed following the end of each Fiscal Year (and upon termination of the Agreement if not coincident with a Fiscal Year end) by a nationally-recognized, independent certified public accounting firm with expertise in gaming proposed by the Manager and approved by the Executive Committee pursuant to the terms of the Agreement. (ii) The books and records reflecting the Project operations shall be kept by the Manager in accordance with GAAP applied on a consistent basis, and shall be maintained in the Las Vegas, Nevada metropolitan area. Holding, Parent and GC and their accounting firms shall have the right to examine and copy the books and records of the Project upon reasonable prior notice to the Manager.
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Accounting Matters and Fiscal Periods. 25 8.2 Operating Budget/Annual Plan......................................................... 26 8.2.1 Fiscal Authority and Constraint............................................. 26 8.2.2 Food and Beverage Pricing/Advertising and Marketing......................... 26 8.2.3 Compliance.................................................................. 26 8.2.4 Adjustment to Annual Plan................................................... 27 8.3
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Accounting Matters and Fiscal Periods 
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Related to Accounting Matters and Fiscal Periods

  • Accounting and Fiscal Year Subject to Code Section 448, the books of the Partnership shall be kept on such method of accounting for tax and financial reporting purposes as may be determined by the General Partner. The fiscal year of the Partnership shall end on December 31 of each year, or on such other date permitted under the Code as the General Partner shall determine.

  • Accounting Matters Unless otherwise stated, all accounting terms used in this Agreement shall have the meanings attributable thereto under IFRS and all determinations of an accounting nature required to be made hereunder shall be made in a manner consistent with IFRS.

  • Statements of Reconciliation after Change in Accounting Principles If, as a result of any change in accounting principles and policies from those used in the preparation of the Historical Financial Statements, the consolidated financial statements of Holdings and its Subsidiaries delivered pursuant to Section 5.1(b) or 5.1(c) will differ in any material respect from the consolidated financial statements that would have been delivered pursuant to such subdivisions had no such change in accounting principles and policies been made, then, together with the first delivery of such financial statements after such change, one or more statements of reconciliation for all such prior financial statements in form and substance satisfactory to Administrative Agent;

  • Accounting and Financial Determinations Unless otherwise specified, all accounting terms used herein shall be interpreted, all accounting determinations and computations hereunder or thereunder (including under Clause 9.4 (Financial Condition)) shall be made, and all financial statements required to be delivered hereunder or thereunder shall be prepared, in accordance with GAAP consistently applied (or, if not consistently applied, accompanied by details of the inconsistencies); provided that if the Borrower elects to apply or is required to apply IFRS accounting principles in lieu of GAAP, upon any such election and notice to the Facility Agent, references herein to GAAP shall thereafter be construed to mean IFRS (except as otherwise provided in this Agreement); provided further that if, as a result of (a) any change in GAAP or IFRS or in the interpretation thereof or (b) the application by the Borrower of IFRS in lieu of GAAP, in each case, after the date of any financial statements referred to in Clause 8.1 (Financial Information, Reports, Notices, etc.), there is a change in the manner of determining any of the items referred to herein or thereunder that are to be determined by reference to GAAP, and the effect of such change would (in the reasonable opinion of the Borrower or the Facility Agent) be such as to affect the basis or efficacy of the financial covenants contained in Clause 9.4 (Financial Condition) in ascertaining the consolidated financial condition of the Borrower and its Subsidiaries and the Borrower notifies the Facility Agent that the Borrower requests an amendment to any provision hereof to eliminate such change occurring after the date hereof in GAAP or the application thereof on the operation of such provision (or if the Facility Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), then such item shall for the purposes of Clause 9.4 (Financial Condition) continue to be determined in accordance with GAAP relating thereto as if GAAP were applied immediately prior to such change in GAAP or in the interpretation thereof until such notice shall have been withdrawn or such provision amended in accordance herewith. Notwithstanding the foregoing, all obligations of any person that are or would be characterized as operating lease obligations in accordance with GAAP on the B34 Facility Amendment Date (whether or not such operating lease obligations were in effect on such date) shall continue to be accounted for as operating lease obligations for the purposes of this Agreement regardless of any change in GAAP following the B34 Facility Amendment Date that would otherwise require such obligations to be recharacterized (on a prospective or retroactive basis or otherwise) as capital leases.

  • Accounting Terms; Financial Statements All accounting terms used herein not expressly defined in this Agreement shall have the respective meanings given to them in accordance with sound accounting practice. The term “sound accounting practice” shall mean such accounting practice as, in the opinion of the independent certified public accountants regularly retained by the Company, conforms at the time to GAAP applied on a consistent basis except for changes with which such accountants concur.

  • Certain Accounting Matters (a) At all times during the existence of the Trust, the Administrative Trustees shall keep, or cause to be kept at the principal office of the Trust in the United States, as defined for purposes of Treasury Regulations section 301.7701-7, full books of account, records and supporting documents, which shall reflect in reasonable detail each transaction of the Trust. The books of account shall be maintained on the accrual method of accounting, in accordance with generally accepted accounting principles, consistently applied. (b) The Administrative Trustees shall either (i), if the Depositor is then subject to such reporting requirements, cause each Form 10-K and Form 10-Q prepared by the Depositor and filed with the Commission in accordance with the Exchange Act to be delivered to each Holder, with a copy to the Property Trustee, within thirty (30) days after the filing thereof or (ii) cause to be prepared at the principal office of the Trust in the United States, as defined for purposes of Treasury Regulations section 301.7701-7, and delivered to each of the Holders, with a copy to the Property Trustee, within ninety (90) days after the end of each Fiscal Year, annual financial statements of the Trust, including a balance sheet of the Trust as of the end of such Fiscal Year, and the related statements of income or loss. (c) The Trust shall maintain one or more bank accounts in the United States, as defined for purposes of Treasury Regulations section 301.7701-7, in the name and for the sole benefit of the Trust; provided, however, that all payments of funds in respect of the Notes held by the Property Trustee shall be made directly to the Payment Account and no other funds of the Trust shall be deposited in the Payment Account. The sole signatories for such accounts (including the Payment Account) shall be designated by the Property Trustee.

  • Accounting Methods and Financial Records Maintain a system of accounting, and keep such books, records and accounts (which shall be true and complete in all material respects) as may be required or as may be necessary to permit the preparation of financial statements in accordance with GAAP and in compliance with the regulations of any Governmental Authority having jurisdiction over it or any of its properties.

  • Definitions and Accounting Matters Section 1.01 Terms Defined Above 1 Section 1.02 Certain Defined Terms 1 Section 1.03 Types of Loans and Borrowings 20 Section 1.04 Terms Generally; Rules of Construction 20 Section 1.05 Accounting Terms and Determinations; GAAP 21

  • Accounting Reports (a) By February 20 of each calendar year the General Partner shall provide to the Limited Partner and the Special Limited Partner all tax information necessary for the preparation of their federal and state income tax returns and other tax returns with regard to the jurisdiction(s) in which the Partnership is formed and in which the Apartment Housing is located. (b) By March 1 of each calendar year the General Partner shall send to the Limited Partner and the Special Limited Partner: (1) a balance sheet as of the end of such fiscal year and statements of income, Partners' equity and changes in cash flow for such fiscal year prepared in accordance with generally accepted accounting principles and accompanied by an auditor's report containing an opinion of the Partnership's Accountants; (2) a report (which need not be audited) of any Distributions made at any time during the fiscal year, separately identifying Distributions from Net Operating Income for the fiscal year, Net Operating Income for prior years, Sale or Refinancing Proceeds, and reserves; and (3) a report setting forth the amount of all fees and other compensation and Distributions and reimbursed expenses paid by the Partnership for the fiscal year to the General Partner or Affiliates of the General Partner and the services performed in consideration therefor, which report shall be verified by the Partnership's Accountants, with the method of verification to include, at a minimum, a review of the time records of individual employees, the costs of whose services were reimbursed, and a review of the specific nature of the work performed by each such employee, all in accordance with generally accepted auditing standards and, accordingly, including such tests of the accounting records and such other auditing procedures as the Accountants consider appropriate in the circumstances. (c) Within 60 days after the end of each fiscal quarter in which a Sale or Refinancing of the Apartment Housing occurs, the General Partner shall send to the Limited Partner and the Special Limited Partner a report as to the nature of the Sale or Refinancing and as to the Income and Losses for tax purposes and proceeds arising from the Sale or Refinancing.

  • Changes in Fiscal Periods Permit the fiscal year of the Borrower to end on a day other than December 31 or change the Borrower’s method of determining fiscal quarters.

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