Audit and Report. (a) The financial statements of the Partnership must be audited and certified as of the end of each fiscal year by a firm of independent certified public accountants selected by the Partnership.
(b) Within ( ) days of the end of each fiscal year, the Partnership must prepare and mail to each Partner a report prepared in accordance with the provisions of the SBIC Act regarding financial reporting, setting forth as at the end of the fiscal year:65
(i) a balance sheet of the Partnership;
(ii) a statement of operations for the year; 62See 13 C.F.R. § 107.600 with respect to recordkeeping requirements for an SBIC. 63RULPA discusses partners' access to a partnership's books and records; see Delaware RULPA § 17-305. 64RULPA specifically addresses partners' access to confidential information held by the partnership; see Delaware RULPA § 17- 305(b). 65Specify any additional financial reports.
(iii) a statement of cash flows;
(iv) a statement of changes in partners’ capital, and such Partner's Closing Capital Account;
(v) a statement of the Assets, valued as provided under this Agreement;
(vi) the amount of such Partner's share in the Partnership's taxable income or loss for the year, in sufficient detail to enable it to prepare its Federal, state and other tax returns;
(vii) any other information the General Partner, after consultation with any Limited Partner requesting the same, deems necessary or appropriate;
(viii) upon request by any Partner, such other information as is needed by such Partner in order to enable it to file any of its tax returns; and
(ix) such other information as any Partner may reasonably request for the purpose of enabling it to comply with any reporting or filing requirements imposed by any statute, rule, regulation or otherwise by any governmental agency or authority. The items set forth in clauses (i), (ii), (iii), (iv) and (v) [add any other financial information which will be certified] will be certified by the firm of independent certified public accountants selected by the Partnership
(c) Within ( ) days of the end of each of the [e.g., first three] fiscal [specify fiscal quarters or other fiscal period], the Partnership will prepare and mail to each Partner a report of the General Partner prepared in accordance with the provisions of the SBIC Act regarding financial reporting setting forth the information described in Section 9.02
Audit and Report. The financial statements of the Partnership must be audited and certified as of the end of each fiscal year by a firm of independent certified public accountants selected by the Partnership.
Audit and Report. (a) Following the end of each fiscal year and the end of each of the first 3 fiscal quarters of each fiscal year, the General Partner shall cause to be prepared financial statements of the Partnership for such year or quarter, as the case may be. Such financial statements shall be prepared in accordance with U.S. generally accepted accounting principles (provided, however, that for purposes of such financial statements, the fair market value of any asset owned by the Partnership shall be the fair market value thereof reasonably determined by the General Partner) and, with respect to the annual financial statements shall be audited by a firm of independent certified public accountants selected by the General Partner. The General Partner shall use its reasonable efforts, as soon as practicable following the end of each fiscal year, and within forty-five (45) days following the end of each of the first three (3) fiscal quarters, as the case may be, to mail to each Partner the financial statements for such year or quarter, as the case may be, including a cash flow statement and a balance sheet, together with the following items as at the end of such year or quarter, as the case may be:
(i) a statement of the Profits or Losses for such year or quarter, as the case may be, and such Partner’s share thereof,
(ii) a statement of such Partner’s Capital Account;
(iii) with respect to a fiscal year report, an auditor’s statement that distributions for such fiscal year were made in accordance with this Agreement; and
(iv) any other information which the General Partner shall deem necessary or appropriate.
(b) As soon as practical after March 15 of each fiscal year, the Partnership shall prepare and mail to each Partner the information setting forth as at the end of such fiscal year the amount of such Partner’s share in the Partnership’s taxable income or loss for such year, in sufficient detail to enable it to file any of its tax returns. If such information is not provided by April 5 of each fiscal year, then the Partnership will provide a preliminary good faith estimate of such information by such date. The Partnership shall also cause to be delivered to each Limited Partner such other information as such Limited Partner may reasonably request for the purpose of enabling it to comply with any reporting or filing requirements imposed by any statute, rule, regulation or otherwise by any governmental agency or authority.
Audit and Report. The books and records of the Partnership shall be kept in accordance with applicable law and, if required by law, audited. The General Partner shall provide to the Limited Partner on a timely basis any information needed to prepare the Partner’s federal, state and local income tax returns and reports.
Audit and Report. The LLC shall maintain books and records in accordance with Treasury Regulation Section 1.704 - 1(b), the provisions of the SBIC Act regarding financial accounts and reporting and generally accepted accounting principles (except as otherwise provided herein), and the financial statements of the LLC shall be audited and certified as of the end of each fiscal year by a firm of independent certified public accountants selected by the LLC.
Audit and Report. J&J Vision shall have the right to audit the Consignment (which includes, without limitation, the right to physically inspect the Consignment and/or records relating to the Consignment) at any time and from time to time while this Agreement remains in full force and effect. J&J Vision may also request (no more than once during any twelve 12 month period) that Consignee provide written confirmation (in the form of a report provided by J&J Vision) to verify the balance of the Consignment and Consignee shall respond to each such request within thirty (30) days of receipt of from J&J Vision. Any shortages shall be replaced and paid for by the Consignee in accordance with the terms described in Section 4 of this Agreement.
Audit and Report. The financial statements of the Partnership must be audited and certified as of the end of each fiscal year by a firm of independent certified public accountants selected by the Partnership. [Applicant may provide that in addition to the audit performed in accordance with the accounting practices prescribed or permitted by SBA, it may also provide an audit in accordance with generally accepted accounting principles.] The General Partner must provide notice to each Partner within five (5) business days of a transfer of the Partnership to SBA’s Office of Liquidation. [Applicant may include additional events for which notice is required.] Within ( ) days of the end of each fiscal year, the Partnership must provide to each Partner a report prepared in accordance with the provisions of the SBIC Act regarding financial reporting, setting forth as at the end of the fiscal year:
Audit and Report. The books and records of the Partnership shall be kept in accordance with generally accepted accounting principles, which is consistent with the requirements of Section 704 of the Code and the Treasury Regulations thereunder, and shall be audited by independent certified public accountants of the General Partner’s selection. The General Partner shall provide to the Limited Partner and the holders of Notes on a timely basis annual and quarterly balance sheets, statements of income (loss) for each applicable period and of such Partner’s capital accounts, statements of Net Cash Flow; and the amount of such Partner’s share in each item of Partnership’s taxable income or loss for each year which must be separately accounted for by a Partner pursuant to section 702(a) of the Code and any other information needed to prepare the Partner’s federal, state and local income tax returns and reports.
Audit and Report. 22 9.03. Fiscal Year ............................................. 23 ARTICLE X
Audit and Report. (a) The books and records of the Partnership shall be audited and reported on as of the end of each fiscal year by accountants selected by the General Partner for this purpose. Within 120 days after the end of each fiscal year or, if later, as soon as practicable after receipt of applicable financial information, the Partnership will cause to be mailed to each Partner a written report, which shall include (i) a statement prepared by the Partnership setting forth such Partner's Capital Account and the amount of such Partner's allocable share of the Partnership's items of income and deduction, capital gain and loss or credit for such year, in sufficient detail to enable him to prepare his Federal, state, local and other tax returns and (ii) a balance sheet, a statement of income and expense and a statement of changes in financial position of the Partnership for such fiscal year.
(b) At the same time as financial statements are furnished pursuant to Section 9.02(a), the Partnership shall cause to be mailed to each Partner a written report setting forth a brief description of each Investment held by the Partnership as of the end of such fiscal year, the cost and value of each such Investment as determined by the General Partner and a brief description of the nature of the business of the issuer of each such Investment.
(c) The Partnership shall cause to be mailed to each Limited Partner a copy of the Partnership's Federal, state and local income tax returns for each year promptly after such returns become available.
