Common use of Books and Records; Internal Controls Clause in Contracts

Books and Records; Internal Controls. Except as set forth in the Prospectus, the Targa Entities maintain a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. Except as set forth in the Prospectus, the Targa Entities’ internal controls over financial reporting are effective and none of the Company and the Company Group Subsidiaries are aware of any material weakness in its internal control over financial reporting.

Books and Records; Internal Controls. Except as set forth in the Prospectus, the each Targa Entities maintain Entity maintains a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. Except as set forth in the Prospectus, the Targa Entities’ internal controls over financial reporting are effective and none of the Company and the Company Group Subsidiaries Targa Entities are aware of any material weakness in its internal control over financial reporting.