Audits Reports to Limited Partners Sample Clauses
Audits Reports to Limited Partners. The Fund's books shall be audited annually by an independent certified public accountant selected by the General Partner. The Fund shall use its best efforts to cause each Partner to receive: (a) within 90 days after the close of each fiscal year an annual report containing audited financial statements (including a statement of income and a statement of financial condition) of the Fund for the fiscal year then ended, prepared in accordance with generally accepted accounting principles and accompanied by a report of the independent certified public accountant which audited such statement, and such other information as the CFTC, SEC, or NFA from time to time may require; and (b) within 90 days after the close of each fiscal year such tax information relating to the Fund as is necessary for such Partner to complete such Partner's federal income tax return. In addition, the General Partner shall report or cause to be reported to the Limited Partners such financial and other information with respect to the Fund as the CFTC, SEC, or NFA by regulation from time to time may require in periodic reports. Moreover, if any of the following events occurs, notice of such event shall be mailed to each Limited Partner within 21 business days after the occurrence of the event: (i) any change in trading advisors; (ii) any change in brokers; (iii) any change in general partners: (iv) any change in the Fund's fiscal year; or (v) any material change in the Fund's trading policies. As used herein, "material change in the Fund's trading policies" shall not include changes in securities or commodity interests traded or modifications of, additions to, or deletions from any trading advisor's trading methods or strategies.
Audits Reports to Limited Partners. The Partnership’s books shall be audited annually by an independent public accounting firm selected by the General Partner in its sole discretion. The General Partner shall use its best efforts to cause each Partner to receive: (a) within 90 days after the close of each fiscal year of the Partnership a certified annual report containing audited financial statements (including a statement of income and a statement of financial condition) of the Partnership for the fiscal year last ended, prepared in accordance with generally accepted accounting principles applied on a consistent basis and accompanied by a report of the accounting firm which audited such statements, and such other information as the CFTC and the NFA from time to time shall require in annual reports; (b) within 90 days after the close of each fiscal year of the Partnership such tax information relating to the Partnership as shall be necessary for such Partner to complete such Partner’s federal income tax return; (c) within 30 days after the close of each calendar month, such financial and other information with respect to the Partnership as the CFTC and the NFA from time to time shall require in monthly reports (including without limitation a statement showing the individual and aggregate amounts of fees, compensation, brokerage commissions and fees, and other expenses and costs paid by the Partnership); and (d) at such times as shall be necessary or advisable in the General Partner’s sole discretion, such other information as the CFTC and the NFA from time to time shall require under the Commodity Exchange Act as amended to be given to participants in commodity pools. If any of the following events occurs, notice of such event shall be mailed to each Limited Partner within seven business days after the occurrence of such event: (i) any amendment to this Agreement which shall have been made in accordance with Section 18; (ii) a decrease in the Net Asset Value of a Unit to or below 50% of the Net Asset Value for the fiscal year-end most recently reported to Limited Partners; (iii) any change in general partners; or (iv) any change in the Partnership’s fiscal year. Such notice shall describe any voting rights of the Limited Partners as set forth in Section 18. The approximate Net Asset Value of a Unit shall be determined daily by the General Partner, and the most recent approximate Net Asset Value shall be promptly supplied in writing to any Limited Partner after the General Partner shall have ...
Audits Reports to Limited Partners