Common use of Initial Accounting Records Clause in Contracts

Initial Accounting Records. Owner shall provide Manager with opening balance sheet entries for Manager’s use within fifteen (15) days following the Management Commencement Date, and Manager shall not be responsible for any reconstruction of accounting records prior to the Management Commencement Date. Manager shall not be responsible for the submission of a completed profit and loss statement prior to thirty (30) days after the receipt of the balance sheet entries. Owner acknowledges that Manager has no knowledge of and cannot certify the accuracy of any historical financial information provided to Manager by Owner.

Appears in 10 contracts

Samples: Hotel Management Agreement, Hotel Management Agreement (Moody National REIT II, Inc.), Hotel Management Agreement (Moody National REIT II, Inc.)

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Initial Accounting Records. Owner shall provide Manager with opening balance sheet entries for Manager’s use within fifteen ten (1510) days following after the Management Contract Commencement Date, and . Manager shall not be responsible for any reconstruction of accounting records prior to the Management Contract Commencement Date. Manager shall not be responsible for the submission of a completed profit and loss statement prior to thirty (30) days after the receipt of the balance sheet entries. Owner acknowledges that Manager has no knowledge of and cannot certify the accuracy of any historical financial information provided to Manager by Owner.

Appears in 2 contracts

Samples: Hotel Management Agreement (Supreme Hotel Properties, Inc.), Hotel Management Agreement (Supreme Hotel Properties, Inc.)

Initial Accounting Records. Owner shall provide Manager with opening balance sheet entries for Manager’s 's use within fifteen thirty (1530) days following after the Management Contract Commencement Date, and . Manager shall not be responsible for any reconstruction of accounting records prior to the Management Contract Commencement Date. Manager shall not be responsible for the submission of a completed profit and loss statement prior to thirty (30) days after the receipt of the balance sheet entries. Owner acknowledges that Manager has no knowledge of and cannot certify the accuracy of any historical financial information provided to Manager by Owner.

Appears in 1 contract

Samples: Hotel Management Agreement (Lodging Fund REIT III, Inc.)

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Initial Accounting Records. Owner shall provide Manager with opening balance sheet entries for Manager’s 's use within fifteen (15) days following the Management Commencement Date, and Manager shall not be responsible for any reconstruction of accounting records prior to the Management Commencement Date. Manager shall not be responsible for the submission of a completed profit and loss statement prior to thirty (30) days after the receipt of the balance sheet entries. Owner acknowledges that Manager has no knowledge of and cannot certify the accuracy of any historical financial information provided to Manager by Owner.

Appears in 1 contract

Samples: Hotel Management Agreement (Moody National REIT I, Inc.)

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