Common use of Determination of Profit and Loss; Financial Statements Clause in Contracts

Determination of Profit and Loss; Financial Statements. All items of Company income, expense, gain, loss, deduction and credit shall be determined with respect to, and allocated in accordance with, this Agreement for each Member for each Company fiscal year. Within ninety (90) days after the end of each Company fiscal year, the Board of Managers shall cause to be prepared and furnished to each Member of record as of the last day of such fiscal year, at the Company’s expense, unaudited financial statements of the Company for the preceding fiscal year, including, without limitation, a balance sheet, profit and loss statement, statement of cash flows and statement of the balances in the Members’ Capital Accounts, prepared in accordance with the terms of this Agreement and generally accepted accounting principles consistently applied. These financial statements shall be available for inspection and copying during ordinary business hours at the reasonable request of any Member and will be furnished to any Member upon written request therefor. In addition, as soon as practicable, but in no event later than forty-five (45) days after the close of each fiscal quarter, except the last fiscal quarter of each fiscal year, the Board of Managers shall furnish to each Member of record on the closing date of that fiscal quarter a quarterly report for the fiscal quarter containing such financial and other information with respect to the Company as the Board of Managers deems appropriate. In addition, as soon as practicable, but in no event later than thirty (30) days after the end of each calendar month, except the last calendar month of each year, the Board of Managers shall furnish to each Member of record on the last day of that calendar month, a monthly report for the month containing such financial and other information with respect to the Company as the Members and the Board of Managers mutually agree to be appropriate.

Determination of Profit and Loss; Financial Statements. All items of Company income, expense, gain, loss, deduction and credit shall be determined with respect to, and allocated in accordance with, this Agreement for each Member for each Company fiscal year. Within ninety (90) days after the end of each Company fiscal year, the Board of Managers shall cause to be prepared and furnished to each Member of record as of the last day of such fiscal year, at the Company’s expense, unaudited financial statements of the Company for the preceding fiscal year, including, without limitation, a balance sheet, profit and loss statement, statement of cash flows and statement of the balances in the Members’ Capital Accounts, prepared in accordance with the terms of this Agreement and generally accepted accounting principles consistently applied. These financial statements shall be available for inspection and copying during ordinary business hours at the reasonable request of any Member Member, and will be furnished to any Member upon written request therefor. In addition, as soon as practicable, but in no event later than forty-five (45) days after the close of each fiscal quarter, except the last fiscal quarter of each fiscal year, the Board of Managers shall furnish to each Member of record on the closing date of that fiscal quarter a quarterly report for the fiscal quarter containing such financial and other information with respect to the Company as the Board of Managers deems appropriate. In addition, as soon as practicable, but in no event later than thirty (30) days after the end of each calendar month, except the last calendar month of each year, the Board of Managers shall furnish to each Member of record on the last day of that calendar month, a monthly report for the month containing such financial and other information with respect to the Company as the Members and the Board of Managers mutually agree to be appropriate.

Determination of Profit and Loss; Financial Statements. All items of Company income, expense, gain, loss, deduction and credit shall be determined with respect to, and allocated in accordance with, this Agreement for each Member for each Company fiscal year. Within ninety (90) days after the end of each Company fiscal year, the Board of Managers shall cause to be prepared and furnished to each Member of record as of the last day of such fiscal year, at the Company’s expense, unaudited financial statements of the Company for the preceding fiscal year, including, without limitation, a balance sheet, profit and loss statement, statement of cash flows and statement of the balances in the Members’ Capital Accounts, prepared in accordance with the terms of this Agreement and generally accepted accounting principles consistently applied. These financial statements shall be available for inspection and copying during ordinary business hours at the reasonable request of any Member Member, and will be furnished to any Member upon written request therefortherefore. In addition, as soon as practicable, but in no event later than forty-five (45) days after the close of each fiscal quarter, except the last fiscal quarter of each fiscal year, the Board of Managers shall furnish to each Member of record on the closing date of that fiscal quarter a quarterly report for the fiscal quarter containing such financial and other information with respect to the Company as the Board of Managers deems appropriate. In addition, as soon as practicable, but in no event later than thirty (30) days after the end of each calendar month, except the last calendar month of each year, the Board of Managers shall furnish to each Member of record on the last day of that calendar month, a monthly report for the month containing such financial and other information with respect to the Company as the Members and the Board of Managers mutually agree to be appropriate.