Common use of Records and Report Clause in Contracts

Records and Report. The Sub-Advisor, in the conduct of its responsibilities set forth herein, shall keep and preserve for the period required by the NSAM Sub-Advisor and in any event for not less than six (6) years shall maintain adequate and separate books and records relevant to the provision of the services due hereunder to the NSAM Sub-Advisor, for the Company’s property operations in accordance with GAAP, which shall be supported by sufficient documentation to ascertain that such books and records are properly and accurately recorded; and shall render to the NSAM Sub-Advisor such periodic and special reports as the NSAM Sub-Advisor may reasonably request. The Sub-Advisor agrees that all records that it maintains for the NSAM Sub-Advisor are property of the NSAM Sub-Advisor and will surrender promptly to the NSAM Sub-Advisor any such records upon the NSAM Sub-Advisor’s request, provided that the Sub-Advisor may retain a copy of such records. Such books and records shall be available for inspection or duplication by the NSAM Sub-Advisor, the Advisor, the Board and by counsel, auditors and other authorized agents of the Company, the NSAM Sub-Advisor or the Advisor, at any time or from time to time during normal business hours. The Sub-Advisor shall at all reasonable times, upon notice, have access to the books and records of the Company. At either party’s request, the NSAM Sub-Advisor and the Sub-Advisor will agree in good faith on a form or forms for reporting.

Records and Report. The Sub-Advisor, in the conduct of its responsibilities set forth herein, shall keep and preserve for the period required by the NSAM Sub-Advisor and in any event for not less than six (6) years shall maintain adequate and separate books and records relevant to the provision of the services due hereunder to the NSAM Sub-Advisor, for the Company’s property operations in accordance with GAAP, which shall be supported by sufficient documentation to ascertain that such books and records are properly and accurately recorded; and shall render to the NSAM Sub-Advisor such 12332947.5 NY 246021453v9 periodic and special reports as the NSAM Sub-Advisor may reasonably request. The Sub-Advisor agrees that all records that it maintains for the NSAM Sub-Advisor are property of the NSAM Sub-Advisor and will surrender promptly to the NSAM Sub-Advisor any such records upon the NSAM Sub-Advisor’s request, provided that the Sub-Advisor may retain a copy of such records. Such books and records shall be available for inspection or duplication by the NSAM Sub-Advisor, the Advisor, the Board and by counsel, auditors and other authorized agents of the Company, the NSAM Sub-Advisor or the Advisor, at any time or from time to time during normal business hours. The Sub-Advisor shall at all reasonable times, upon notice, have access to the books and records of the Company. At either party’s request, the NSAM Sub-Advisor and the Sub-Advisor will agree in good faith on a form or forms for reporting.