Common use of Audit Function Clause in Contracts

Audit Function. The Partnership has engaged the Auditor as its independent auditors. The Advisory Committee shall review and confer with respect to the performance of the Partnership’s independent auditors and may, by Unanimous Approval, require that such auditors be substituted by the General Partner; provided, however, that notwithstanding the foregoing only Majority Approval shall be required if the substitute auditors are Deloitte LLP, KPMG LLP, PricewaterhouseCoopers LLP or Ernst & Young LLP (or, with respect to each, any successor firm thereof). The Partnership shall maintain an internal audit staff which (i) shall report directly to the Advisory Committee and (ii) without the consent of each Significant Limited Partner, shall not be utilized by any Partner or any of its Affiliates (other than the Partnership Group) with respect to its separate business.

Audit Function. The Partnership has engaged the Auditor as its independent auditors. The Advisory Committee shall review and confer with respect to the performance of the Partnership’s independent auditors and may, by Unanimous Level One Approval, require that such auditors be substituted by the General Partner; provided, however, that notwithstanding the foregoing only Majority a Level Four Approval shall be required if the substitute auditors are Deloitte LLP, KPMG LLP, PricewaterhouseCoopers LLP or Ernst & Young LLP (or, with respect to each, any successor firm thereof). The Partnership shall maintain an internal audit staff which (i) shall report directly to the Advisory Committee and (ii) without the consent of each Significant Limited Partner, shall not be utilized by any Partner or any of its Affiliates (other than the Partnership Group) with respect to its separate business.

Audit Function. The Partnership has engaged the Auditor as its independent auditors. The Advisory Committee shall review and confer with respect to the performance of the Partnership’s independent auditors and may, by Unanimous Level One Approval, require that such auditors be substituted by the General Partner; provided, however, that notwithstanding the foregoing only Majority a Level Four Approval shall be required if the substitute auditors are Deloitte LLP, KPMG LLP, PricewaterhouseCoopers LLP or Ernst & Young LLP (or, with respect to each, any successor firm thereof). The Partnership shall maintain an internal audit staff which (i) shall report directly to the Advisory Committee and (ii) without the consent of each Significant Limited Partner, shall not be utilized by any Partner or any of its Affiliates (other than the Partnership Group) with respect to its separate business.