Financial and Tax Accounting and Reports Sample Clauses

Financial and Tax Accounting and Reports. The tax returns of the Partnership shall be filed on an accrual basis. The General Partner shall cause the Partnership's tax returns to be prepared and a Schedule K-1 or any successor form to be prepared and delivered in a timely manner to each of the Partners. In the event of an income tax audit of the Partnership or any judicial or administrative proceeding in connection with the income tax returns of the Partnership, the Tax Matters Partner shall be authorized to act for and, to the extent provided by the Code, its decision shall be binding upon the Partnership and the Partners. The books and records of the Partnership shall be kept in accordance with generally accepted accounting principles.
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Financial and Tax Accounting and Reports. The Company's tax return and IRS Form 1065, Schedule K-1, shall be prepared and delivered in a timely manner to the Members (but in no event later than ninety (90) days after the close of each of the Company's Fiscal Years). The financial statements of the Company shall be prepared in accordance with the provisions of this Agreement and otherwise in accordance with generally accepted accounting principles consistently applied. The Company shall transmit the Company's financial statements to each Member within ninety (90) days after the close of each of the Company's Fiscal Years.
Sample 1
Financial and Tax Accounting and Reports. The General Partner ---------------------------------------- shall cause the Partnership's tax returns and IRS Form 1065, Schedule K-1's, to be prepared and delivered in a timely manner to the Limited Partners. The General Partner shall use its best efforts to cause the Schedule K-1's for each Fiscal Year to be delivered to the Limited Partners within ninety (90) days after the end of the Fiscal Year. The books and records of the Partnership and the General Partner shall be kept in accordance with the provisions of this Agreement and otherwise in accordance with generally accepted accounting principles consistently applied. The Partnership's financial statements for each Fiscal Year shall be prepared in accordance with such principles consistently applied and shall be audited at the end of each Fiscal Year by an independent certified public accounting firm of recognized national standing selected by the General Partner. The General Partner shall transmit to each Limited Partner as soon as practicable after the close of each of the Partnership's Fiscal Years (but in no event later than ninety (90) days after the end of each Fiscal Year), beginning with the Fiscal Year ending December 31, 1999, the audited financial statements of the Partnership accompanied by a report from the General Partner to the Limited Partners, which shall include a status report on investments then held, a valuation of each such investment, and a brief statement on the affairs of the Partnership during the Fiscal Year then ended. In addition, the General Partner shall, within a reasonable time following the completion of the report referred to above and following reasonable notice to each Partner, hold an annual meeting of the Partners at which the General Partner shall present the affairs of the partnership and provide the Limited Partners with the opportunity to ask questions and discuss the Partnership's affairs.
Sample 1
Financial and Tax Accounting and Reports. The General Partner shall cause an IRS Form 1065, Schedule K-1, to be prepared and delivered in a timely manner to each of the Limited Partners. The Partnership’s financial statements for each Fiscal Year shall be prepared in accordance with United States generally accepted accounting principles consistently applied and beginning with the Fiscal Year ending December 31 of the year after the year that includes the Initial Contribution Date shall be audited at the end of each Fiscal Year by an independent certified public accountant of recognized national or regional standing selected by the General Partner. It is agreed and understood that, for purposes of maintaining its books and records and producing the reports required hereunder, the Partnership shall not be required to consolidate (or otherwise combine) its financial results with those of its Portfolio Companies whether or not generally accepted accounting principles would require such consolidation (or other form of combination). The Limited Partners acknowledge that the General Partner and the Partnership’s accountants will require information from third parties in order to comply with the requirements of this Section 9.1 and Sections 9.4 and 9.5 and agree that neither shall have liability to the Partnership or the Limited Partners in connection therewith so long as they exercise commercially reasonable efforts in seeking to obtain such information on a timely basis.
Sample 1
Financial and Tax Accounting and Reports. The General Partner shall not cause the Partnership to elect to be classified as an association taxable as a corporation for federal income tax purposes. The books and records of the Partnership shall be kept in accordance with the accrual method of accounting.
Sample 1
Financial and Tax Accounting and Reports. The tax returns of the Partnership shall be filed on an accrual basis (if the General Partner deems it advantageous for the Partnership to do so). The General Partner shall cause the Partnership's tax returns to be prepared and Schedule K-1 or any successor form to be prepared and delivered in a timely manner to the Limited Partners. In the event of an income tax audit of the Partnership or any judicial or administrative proceeding in connection with the income tax returns of the Partnership the Tax Matters Partner shall be authorized to act for, and, to the extent provided by the Internal Revenue Code, his decision shall be binding upon the Partnership and all Partners. The books and records of the Partnership shall be kept in accordance with generally accepted accounting principles consistently applied and shall be audited at the end of each Fiscal Year by independent certified public accountants selected by the General Partner.
Sample 1
Financial and Tax Accounting and Reports. The General Partner shall use its reasonable best efforts to cause an IRS Form 1065, Schedule K-1, to be prepared and delivered to each of the Limited Partners within seventy-five (75) days after the close of each of the Partnerships Fiscal Years (but in no event shall the IRS Form 1065, Schedule K-1 be delivered later than ninety (90) days after the close of each of the Partnership's Fiscal Years). The books and records of the Partnership and the General Partner shall be kept by the General Partner at the principal office of the Partnership in accordance with the provisions of this Agreement and otherwise in accordance with United States generally accepted accounting principles consistently applied. The Partnership's financial statements for each Fiscal Year shall be prepared in accordance with United States generally accepted accounting principles consistently applied and beginning with the Fiscal Year ending December 31, 2006 shall be audited at the end of each Fiscal Year by an independent certified public accountant of recognized national standing selected by the General Partner. Notwithstanding the foregoing, it is agreed and understood that the Partnership shall not be required to consolidate (or otherwise combine) its financial results with those of its portfolio companies whether or not generally accepted accounting principles would require such consolidation (or other form of combination).
Sample 1
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Financial and Tax Accounting and Reports. The General Partner shall cause an IRS Form 1065, Schedule K-1 (such Schedule K-1 to include unrelated business taxable income, if any, incurred by the Partnership during such fiscal year), to be prepared and delivered in a timely manner to each of the Limited Partners. The Partnership’s financial statements for each Fiscal Year shall be prepared in accordance with United States generally accepted accounting principles consistently applied and, beginning with the Fiscal Year in which the Initial Contribution Date occurs, shall be audited at the end of each Fiscal Year by an independent certified public accountant of recognized national or regional standing selected by the General Partner. It is agreed and understood that, for purposes of maintaining its books and records and producing the reports required hereunder, the Partnership shall not be required to consolidate (or otherwise combine) its financial results with those of its portfolio companies whether or not generally accepted accounting principles would require such consolidation (or other form of combination). The Limited Partners acknowledge that the General Partner and the Partnership’s accountants will require information from third parties in order to comply with the requirements of this Section 9.1 and Sections 9.4 and 9.5, and agree that neither shall have liability to the Partnership or the Limited Partners in connection therewith so long as they exercise commercially reasonable efforts in seeking to obtain such information on a timely basis.
Sample 1

Related to Financial and Tax Accounting and Reports

  • Accounting and Reports (a) The Company shall adopt for tax accounting purposes any accounting method that the Board shall decide in its sole discretion is in the best interests of the Company. The Company’s accounts shall be maintained in U.S. currency. (b) After the end of each Taxable Year, the Company shall furnish to each Member such information regarding the operation of the Company and such Member’s Interest as is necessary for Members to complete U.S. federal and state income tax or information returns and any other tax information required by U.S. federal and state law. (c) Except as otherwise required by the 1940 Act, or as may otherwise be permitted by rule, regulation or order, within 60 days after the close of the period for which a report required under this Section 7.1 is being made, the Company shall furnish to each Member an unaudited semi-annual report and an audited annual report containing the information required by such Act. The Company shall cause financial statements contained in each annual report furnished hereunder to be accompanied by a certificate of independent public accountants based upon an audit performed in accordance with generally accepted accounting principles. The Company may furnish to each Member such other periodic reports as it deems necessary or appropriate in its discretion.

  • Accounting and Reporting The Escrow Agent shall keep and maintain books of accounts and other accounting records of all investments and reinvestments of the Escrow Deposit and shall make available to the PRINCIPALS the quarterly electronic reports (i.e., Balance Sheet, Income Statement, Statement of Earning Assets, Investment Activity Report, and Return on Investment Report) within twenty (20) calendar days from the end of the preceding quarter. An electronic Confirmation of Transaction Report shall likewise be sent upon execution of placement or investment within 5 calendar days from the transaction date. All electronic reports shall be sent through the email address designated by the authorized representatives of the PRINCIPALS. The information in such reports shall be deemed accepted should the PRINCIPALS fail to submit any objection to it in writing to the Escrow Agent within fifteen (15) calendar days from receipt of such reports. After the expiration of which period without any written objection having been submitted, the Escrow Agent shall be released to all items and matters set forth in the reports. Extent of Liability The Escrow Agent shall not look into the veracity, genuineness, or validity of the written instructions it will receive under the provisions of this Agreement, the intention hereof being to assure the immediate release and delivery of the Escrow Deposit under the provisions of this Agreement. The Escrow Agent is authorized and directed to disregard in its sole discretion any and all notices and warnings given to it by the other party or by any other person, firm, association or corporation unless they are issued under the terms of this Agreement. It shall, however, obey the order, judgments or decrees of any court or any government instrumentality in the exercise of quasi-judicial functions. In case of such compliance, it shall not be liable by reason thereof to the Alumni or to UP MANILA or to any other person, firm association or corporation, even if, after that, any such other judgment or decree be reversed, modified, annulled, set aside or vacated. The Escrow Agent shall assume no obligation or responsibility other than to make delivery of the Escrow Deposit as herein provided and shall not be bound by any agreement or contract to which it is not a party, whether it has knowledge thereof or not, and this Agreement shall not be altered or amended in any manner without the consent of the Escrow Agent. In the absence of fraud, bad faith, or gross negligence on the part of the Escrow Agent or any person acting in its behalf, the Escrow Agent shall not be liable for any loss or damage to the Escrow Deposit arising out of or in connection with any act done or performed or caused to be done or performed by the Escrow Agent under the terms and conditions of this Agreement, or any instructions issued pursuant hereto, nor shall it be liable for any act or omission made in accordance with this Agreement or concerning any action taken by it in good faith, nor of any mistake of fact of error of judgment acted upon in good faith. In case of force majeure such as typhoons, earthquakes, tidal waves and other similar natural catastrophes or fire, war, insurrections, rebellion, coup d' etat, strikes, lock out, or other similar military, political, or civil disturbances, the Escrow Agent shall not be liable for the non- performance of any of its obligations under this Agreement for reasons directly or indirectly, wholly or partly attributable to any of the preceding. Compliance with Anti-Money Laundering Regulations The PRINCIPALS undertake to comply with the Anti-Money Laundering laws and regulations, including the updating of its records and submission of required validation documents with the Escrow Agent at least once every three (3) years or oftener as may be advised by the Escrow Agent or as may be required by its auditors and regulators. Should the PARENTS fail to comply with the Anti-Money Laundering laws and regulations, including the updating of its records and submission of required validation documents, the Escrow Agent is authorized to terminate the account and release the funds to UP MANILA.

  • Accounting and Tax Matters The General Partner shall keep proper and usual books and records pertaining to the Partnership’s business in accordance with generally accepted accounting principles. The books and records and all files of the Partnership shall be kept at its principal office. The General Partner shall prepare and furnish to the Limited Partners promptly after the close of each fiscal year an unaudited statement, certified by the General Partner, showing the operations of the Partnership for such fiscal year, including a balance sheet and statement of income or loss and changes in financial position for such fiscal year, the balance of each Limited Partner’s Capital Account, the unpaid balance due under all obligations of the Partnership and all other information reasonably requested by any Partner. The Limited Partners, and the authorized agents thereof, shall have the right at all reasonable times to audit, examine and make copies or extracts from the Partnership books of account. Federal, state and local income tax returns of the Partnership shall be prepared and timely filed by the General Partner. Copies of the tax returns shall be furnished to the Limited Partners prior to filing thereof. The General Partner is hereby designated the tax matters partner of the Partnership.

  • Accounting and Recording (1) The Warrant Agent shall promptly account to the Corporation with respect to Warrants exercised, and shall promptly forward to the Corporation (or into an account or accounts of the Corporation with the bank or trust company designated by the Corporation for that purpose), all monies received by the Warrant Agent on the subscription of Warrant Shares through the exercise of Warrants. All such monies and any securities or other instruments, from time to time received by the Warrant Agent, shall be received in trust for, and shall be segregated and kept apart by the Warrant Agent, the Warrantholders and the Corporation as their interests may appear (2) The Warrant Agent shall record the particulars of Warrants exercised, which particulars shall include the names and addresses of the persons who become holders of Warrant Shares on exercise and the Exercise Date, in respect thereof. The Warrant Agent shall provide such particulars in writing to the Corporation within five Business Days of any request by the Corporation therefor.

  • Accounting and Financial Reporting 7.1 The Trustee shall maintain separate records and ledger accounts in respect of the Contributions deposited in the Trust Fund account and disbursements to Partner Entities made therefrom. 7.2 The Trustee shall furnish to the Donors current financial information relating to receipts, disbursements and fund balance in United States dollars of the Trust Fund with respect to the Contributions via the World Bank’s Trust Funds Donor Center secure website. Within six (6) months after all commitments and liabilities under the Trust Fund have been satisfied and the Trust Fund has been closed, the final financial information relating to receipts, disbursements and fund balance in United States dollars of the Trust Fund with respect to the Contributions will be made available to the Donors via the World Bank’s Trust Funds Donor Center secure website. 7.3 The Trustee shall provide to the Donors, within six (6) months following the end of each Trustee fiscal year, an annual single audit report, comprising: (a) a management assertion together with an attestation from the Trustee’s external auditors concerning the adequacy of internal control over cash-based financial reporting for all cash-based trust funds as a whole; and (b) a combined financial statement for all cash-based trust funds together with the Trustee’s external auditor’s opinion thereon. The cost of the single audit shall be borne by the Trustee. 7.4 If a Donor wishes to request, on an exceptional basis, a financial statement audit by the Trustee’s external auditors of the Trust Fund, the Donor and the Trustee shall first consult as to whether such an external audit is necessary. The Trustee and the Donor shall agree on the appropriate scope and terms of reference of such audit. Following agreement on the scope and terms of reference, the Trustee shall arrange for such external audit. The costs of any such audit, including the internal costs of the Trustee with respect to such audit, shall be paid by the requesting Donor. 7.5 The Trustee shall furnish the Steering Committee and each Donor with: (a) copies of all unaudited or audited financial reports; and (b) any other relevant financial information received from the Partner Entities.

  • Annual Tax Information and Report Within seventy-five (75) days after the end of each fiscal year of the Partnership, the General Partner shall furnish to each person who was a Limited Partner at any time during such year the tax information necessary to file such Limited Partner’s individual tax returns as shall be reasonably required by law.

  • Basic Financial Information and Reporting (a) The Company will maintain true books and records of account in which full and correct entries will be made of all its business transactions pursuant to a system of accounting established and administered in accordance with generally accepted accounting principles consistently applied, and will set aside on its books all such proper accruals and reserves as shall be required under generally accepted accounting principles consistently applied. (b) As soon as practicable after the end of each fiscal year of the Company, and in any event within one hundred twenty (120) days thereafter, the Company will furnish each Investor a balance sheet of the Company, as at the end of such fiscal year, and a statement of income and a statement of cash flows of the Company, for such year, all prepared in accordance with generally accepted accounting principles consistently applied and setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail. Such financial statements shall be accompanied by a report and opinion thereon by independent public accountants of national standing selected by the Company's Board of Directors. (c) The Company will furnish each Investor, as soon as practicable after the end of the first, second and third quarterly accounting periods in each fiscal year of the Company, and in any event within forty-five (45) days thereafter, a balance sheet of the Company as of the end of each such quarterly period, and a statement of income and a statement of cash flows of the Company for such period and for the current fiscal year to date, prepared in accordance with generally accepted accounting principles, with the exception that no notes need be attached to such statements and year-end audit adjustments may not have been made. (d) So long as an Investor (with its Affiliates) shall own not less than five hundred thousand (500,000) shares of Registrable Securities (as adjusted for stock splits and combinations) (a "MAJOR INVESTOR"), the Company will furnish each such Major Investor (i) at least thirty (30) days prior to the beginning of each fiscal year an annual budget and operating plans for such fiscal year (and as soon as available, any subsequent revisions thereto); and (ii) as soon as practicable after the end of each month, and in any event within twenty (20) days thereafter, a balance sheet of the Company as of the end of each such month, and a statement of income and a statement of cash flows of the Company for such month and for the current fiscal year to date, including a comparison to plan figures for such period, prepared in accordance with generally accepted accounting principles consistently applied, with the exception that no notes need be attached to such statements and year-end audit adjustments may not have been made. (e) So long as any Series B Investor (with its Affiliates) owns any shares of Registrable Securities, the Company will furnish to three (3) Investors appointed by Atlas (as designated in writing to the Company) (i) at least thirty (30) days prior to the beginning of each fiscal year an annual budget and operating plans for such fiscal year (and as soon as available, any subsequent revisions thereto); and (ii) as soon as practicable after the end of each month, and in any event within twenty (20) days thereafter, a balance sheet of the Company as of the end of each such month, and a statement of income and a statement of cash flows of the Company for such month and for the current fiscal year to date, including a comparison to plan figures for such period, prepared in accordance with generally accepted accounting principles consistently applied, with the exception that no notes need be attached to such statements and year end audit adjustments may not have been made; provided, however, that after the termination of that certain Consulting Agreement (the "Consulting Agreement") between the Company and Atlas, dated as of April 19, 1999, Investors who are holders of Registrable Securities issued or issuable upon conversion of Series B Stock, or upon exercise of the Warrants, shall only be furnished with balance sheets and statements of income pursuant to this subsection (e).

  • Books Records Accounting and Reports Section 8.1 Records and Accounting 60 Section 8.2 Fiscal Year 60 Section 8.3 Reports 60

  • Accounting Matters Unless otherwise stated, all accounting terms used in this Agreement shall have the meanings attributable thereto under IFRS and all determinations of an accounting nature required to be made hereunder shall be made in a manner consistent with IFRS.

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