Bookkeeping. The Series, for accounting and income tax purposes, shall operate on a Fiscal Year ending December 31 of each year, and shall make such income tax elections and use such methods of depreciation as shall be determined by the Series Manager. The books and records of the Company will be kept on a GAAP basis in accordance with sound accounting practices to reflect all income and expenses of the Series.
Appears in 8 contracts
Samples: Series Agreement (Mythic Collection, LLC), Series Agreement (Mythic Collection, LLC), Series Agreement (Mythic Collection, LLC)
Bookkeeping. The Series, for accounting and income tax purposes, shall operate on a Fiscal Year ending December 31 of each year, and shall make such income tax elections and use such methods of depreciation as shall be determined by the Series Manager. The books and records of the Company will be kept on a GAAP basis in accordance with sound accounting practices to reflect all income and expenses of the Series.. SERIES COM-AF157, LLC Series Agreement
Appears in 2 contracts
Samples: Series Agreement (Mythic Collection, LLC), Series Agreement (Mythic Collection, LLC)
