Accounting Records and Reports. The Trustee will keep or cause to be kept proper books of record and accounts in which complete and correct entries shall be made of all transactions relating to the receipts, disbursements, allocation and application of the Revenues, and such books shall be available for inspection by the Authority at reasonable hours and under reasonable conditions. The Trustee shall provide to the Authority monthly statements covering the funds and accounts held pursuant to the Trust Agreement. Not more than one hundred eighty (180) days after the close of each Fiscal Year, the Trustee shall furnish or cause to be furnished to the Authority a complete financial statement (which may be in the form of the Trustee’s customary account statements) covering receipts, disbursements, allocation and application of Revenues for such Fiscal Year. The Authority shall keep or cause to be kept such information as is required under the Tax Certificate.
Accounting Records and Reports. 1.3.1 In accordance with the provisions of Article 16.1 of the Contract, the Contractor shall maintain in its office in Equatorial Guinea original, complete, true and correct accounts, books and records of the Production and disposition of Hydrocarbons, and all costs and expenses under the Contract, as well as all other records and data necessary or proper for the settlement of accounts in accordance with the laws of Equatorial Guinea, generally accepted accounting procedures and generally accepted practice in the international petroleum industry and pursuant to the chart of accounts agreed pursuant to Article 1.3.2 below.
1.3.2 Within sixty (60) days from the Effective Date, the Contractor shall submit to and discuss with the Ministry a proposed outline for the chart of accounts and the books, records and reports in accordance with generally accepted standards and consistent with normal petroleum industry practices and procedures. Within sixty (60) days of receiving the above proposal, the Ministry shall either provide notice of its approval of the proposal, or shall request revisions of such chart of accounts in writing. Within one hundred and eighty (180) days after the Effective Date, the Contractor and the Ministry shall agree on the outline of the chart of accounts, books, records, and reports which shall describe the basis of the accounting system and procedures to be developed and used in accordance with this Accounting Procedure. Following such agreement, the Contractor shall immediately prepare and provide the Ministry with formal copies of the detailed and complete chart of accounts and manuals related to the procedures, and a list of the data and records to be accounted for, recorded, reported and to be followed under the Contract.
1.3.3 In addition to the generality of the foregoing, the Contractor shall submit to the Ministry, at regular intervals, statements relating to the Petroleum Operations, including, but not limited to, the following:
(a) monthly statement of Production;
(b) quarterly statement of value of Production and pricing;
(c) statement of Petroleum Operations Costs;
(d) annual statement of Petroleum Operations Cost not yet recovered;
(e) statement of Production sharing;
(f) annual end-of-year statement;
(g) Annual Budget tracking statement; and
(h) statement of tangible goods subject to depreciation.
1.3.4 All reports and statements shall be prepared in accordance with the Contract, the laws of Equatorial Guinea and any regulat...
Accounting Records and Reports. 17 SEC. 15. OTHER REPORTING REQUIREMENTS 18 SEC. 16. SUSPENSION, TERMINATION, OR EXPIRATION 18
Accounting Records and Reports. 17 SEC. 15. OTHER REPORTING REQUIREMENTS 18
Accounting Records and Reports. 12.1 The Licensee will maintain at its principal place of business, or such other place as may be convenient, separate accounts and records of all Net Revenue, Gross Revenue and Sublicensing Revenue, sublicenses and business conducted by the Licensee in connection with the Technology or any Improvements. These accounts and records will be prepared in sufficient detail to enable proper returns to be made as required by this Agreement, and the Licensee will use reasonable efforts to cause its Sublicensees to keep similar accounts and records.
12.2 The Licensee will complete and deliver to the Licensor:
(a) within 45 days of each and every Royalty Due Date, a completed Payment Report in the form attached as Schedule “B” (or in such amended form as agreed by the Licensor and the Licensee from time to time), together with the royalty payable under this Agreement. A separate Payment Report shall be prepared and delivered for each sublicense, including an accounting statement setting out in detail how the amount of Sublicensing Revenue was determined and identifying each Sublicensee and the location of the business of each Sublicensee. The first Payment Report will be submitted within 45 days after the first Royalty Due Date after the Licensee’s receipt of the first Gross Revenue or Sublicensing Revenue, and thereafter a Payment Report shall be delivered within 45 days after each subsequent Royalty Due Date regardless of whether any Gross Revenue or Sublicensing Revenue was received in the preceding period; and
(b) on or before March 31 of each year during the Term, starting on March 31, 2012, an annual report in the form attached as Schedule “C” (or in such amended form as agreed by the Licensor and the Licensee from time to time).
12.3 The calculation of royalties will be carried out in accordance with generally accepted Canadian accounting principles, or the standards and principles adopted by the U.S. Financial Accounting Standards Board, as determined by the Licensee, applied on a consistent basis.
12.4 The Licensee will retain the accounts and records referred to in Section 12.1 for at least six years from when they were made and will permit any duly authorized representative of the Licensor to inspect, at the Licensor’s expense, the accounts and records during the Licensee’s normal business hours. The Licensee will provide to the representative all reasonable evidence necessary to verify the accounts and records and will allow copies to be made of the acco...
Accounting Records and Reports. The Trustee shall keep proper books of record and account in which complete and correct entries shall be made of all transactions relating to the receipt, investment, disbursement, allocation and application of the proceeds of the Bonds and the revenues of the Project. Such records shall specify the account or fund to which each investment (or portion thereof) held by the Trustee is to be allocated and shall set forth, in the case of each investment security, (a) its purchase price, (b) identifying information, including par amount, and interest rate, (c) the amount received at maturity or its sale price, as the case may be, and (d) the amounts and dates of any payments made with respect thereto. Such records shall be open to inspection by the Issuer at any reasonable time during regular business hours on reasonable notice. 108
Accounting Records and Reports. The Trustee shall keep accurate and detailed records of all investments, receipts, disbursements and all other Trust transactions. All such records shall be open to reasonable inspection and audit by the Company and by any Participant. The Trustee shall deliver written reports of its administration of the Trust setting forth for each Participant, for each Plan and for the Trust in the aggregate:
(a) For the period covered by the report, all contributions, investments, receipts, disbursements and other transactions effected by it, including a description of all securities and investments purchased and sold and the cost or net proceeds of such purchases or sales (accrued interest paid or receivable being shown separately);
(b) All cash, securities and other property held at the beginning and at the end of the period covered by the report. The Trustee shall provide such reports as follows:
(c) To the Company, covering each of the first three quarters of each calendar year, beginning with the first calendar quarter ending after the effective date of this Trust Agreement, and provided within 60 days following the close of each such quarter;
(d) To the Company and to each Participant, covering each calendar year, and provided within 60 days following the end of such year;
(e) To the Company and to each Participant, covering the period from the close of the last preceding year to the date of any resignation or removal of the Trustee, and provided within 60 days after such resignation or removal. In the absence of the Company's filing with the Trustee of objections to any such account within 180 days after its receipt, the Company shall be deemed to have so approved such account. In such case, or upon the written approval by the Company of any such account, the Trustee shall, to the extent permitted by law, be discharged from all liability to the Company for its acts or failures to act described by such account. The foregoing, however, shall not preclude the Trustee from having its accounting settled by a court of competent jurisdiction.
Accounting Records and Reports. Proper and complete books and records of account shall be kept by the Joint Venture and shall, at all times, be maintained at the principal office of the Joint Venture. All such books and records shall be subject to inspection and copying by the Partners, or their agent or attorney. Each Partner shall have access to true and full information regarding the status of the Joint Venture’s business and financial condition, and shall render, on demand, true and full information of all things affecting the Joint Venture to any other Partner.
Accounting Records and Reports. DMN shall implement and maintain an accounting system appropriate and adequate for the needs of the Company and shall provide to the Company, on or before the last business day of each month, monthly unaudited financial statements for the prior month for each Center. These financial statements shall be prepared on an accrual basis in accordance with generally accepted accounting principles consistently applied. Within 90 days after the end of each fiscal year of the Company, DMN will provide to the members in the Company such financial information necessary to permit them to prepare their tax returns, and within 120 days after the end of each fiscal year of the Company, DMN will provide to the Partners in the Company unaudited financial statements for the prior fiscal year prepared in accordance with generally accepted accounting principles, which financial statements include a comparison of actual performance to Budget. In addition, the Managers may, at any time upon reasonable advance notice to DMN, and the members in the Company may, to the extent permitted under the Joint Venture Agreement, inspect the books and records of the Company.
Accounting Records and Reports. Language and Units of Account
