Quarterly Valuation of Assets. For each of the Company’s Note Investments and other investments, the Manager shall review the investments at the end of each calendar quarter and determine if a Write-down is required with respect thereto. The Manager shall cause the Company’s accountants, within thirty (30) days of the end of each calendar quarter, to verify that the Manager’s determination was made in compliance with generally accepted accounting principles. Any Write-down of an asset resulting from the valuation shall be effective on the last day of the respective calendar quarter during the term of this Agreement.
Appears in 4 contracts
Samples: Operating Agreement (Bayou City Exploration, Inc.), Operating Agreement (Bayou City Exploration, Inc.), Operating Agreement (Bayou City Exploration, Inc.)
