Audit and Report Sample Clauses

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. (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 ninety (90) days from and after 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: (i) a balance sheet of the Partnership; (ii) a statement of operations for the year; (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; Confidential treatment requested by WQN, Inc. (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 Private 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) will be certified by the firm of independent certified public accountants selected by the Partnership. (c) Within forty-five (45) days from and after the end of each of the first three fiscal quarters of the Partnership, 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(b) (i), (ii), (iii) and (v), identifying the securities held by the Partnership and stating the amount of each security held and the cost and value thereof as determined under Section 3.08.

Audit and Report. (a The books and records of the Partnership shall be audited as of the end of each fiscal year by a firm of independent certified public accountants of national recognition and standing selected by the General Partner. As soon as practicable after the close of each fiscal year, and, in any event, within 90 days after the close of such fiscal year, the Partnership shall prepare and mail to each Partner (i) the audited financial statements of the Partnership for such fiscal year, including balance sheets, income statements and statements of cash flow, together with the report thereon of such accountants, (ii) a report of such accountants, setting forth the amount of such Partner's share of the Profit and Loss for such year, in sufficient detail to enable it to prepare its Federal, state and other tax returns, including, but not 61 limited to, Internal Revenue Service Schedule "K-1", or any successor thereto, (iii) a copy of the Partnership's United States Partnership Return of Income and (iv) a report setting forth the Funds From Operations per Company Share. (b Within 90 days after the date of the Original Agreement, and by February 15 of each year, the Partnership will furnish the Limited Partner the financial and tax information with respect to the prior fiscal year of the Partnership that is provided for on Schedule E, with such reasonable changes therein, additions thereto and deletions therefrom as the Limited Partner shall from time to time advise the Partnership and the General Partner in writing (which financial and tax information, prepared in conformity with Schedule E, is intended to permit the Limited Partner to prepare its financial statements and tax returns in accordance with Japanese tax basis accounting methods). (c Within 45 days after the end of each of the first three fiscal quarters of each fiscal year, the Partnership shall prepare and mail to each Partner unaudited financial statements of the Partnership comparable to, and prepared on the basis of accounting principles consistent with those used in the preparation of, the financial statements provided pursuant to Section 6.2(a)(i).

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. 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. (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.

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) After the end of each fiscal year of the Partnership, the General Partner shall cause an audit of the Partnership’s financial statements for such year to be made by its auditors and shall cause a copy of such audited financial statements to be delivered to each Partner. With respect to each tax year of the Partnership, the General Partner shall prepare or have prepared the appropriate state and federal income tax returns and other appropriate tax returns and information of the Partnership, and shall furnish the appropriate informational tax returns and information to each Partner. The General Partner shall exercise commercially reasonable efforts to cause the reports and other documents to be provided pursuant to this Section 9.02(b) to be delivered to each Partner within 120 days of the end of each fiscal year or tax year, as applicable, it being acknowledged that such items may not be available until after the Partnership receives certain year-end reports and tax and other information from its portfolio companies.

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. 22 9.03. Fiscal Year ............................................. 23 ARTICLE X