Common use of Statements and Billings Clause in Contracts

Statements and Billings. 1.5.1 Unless otherwise agreed by the Parties or pursuant to Turnkey contracts, Operator shall submit monthly to each Party, on or before the 25th Day of each month, statements of the costs and expenditures incurred during the prior month, indicating by appropriate classification the nature thereof, the corresponding budget category, and the portion of such costs charged to each of the Parties. These statements, as a minimum, shall contain the following information: - advances of funds setting forth the currencies received from each Party - the share of each Party in total expenditures - the current account balance of each Party - summary of costs, credits, and expenditures on a current month, year-to-date, and inception-to-date basis or other periodic basis, as agreed by Parties - details of unusual charges and credits in excess of U.S. dollars five thousand (U.S.$5,000.00). 1.5.2 Operator shall, upon request, furnish a description of the accounting classifications used by it. 1.5.3 Amounts included in the statements and billings shall be expressed in U.S. currency and reconciled to the currencies advanced. 1.5.4 Each Party shall be responsible for preparing its own accounting and tax reports to meet the requirements of the Country of Operations and of all other countries to which it may be subject. Without limiting the foregoing, each Party acknowledges that it will keep its records and accounts in accordance with Turkish Accounting Procedures and Fiscal Procedure Law as published in the Turkish Official Gazette on 10.01.

Statements and Billings. 1.5.1 Unless otherwise agreed by the Parties or pursuant to Turnkey contracts, Operator shall submit monthly to each Party, on or before the 25th 10th Day of each month, statements of the costs and expenditures incurred during the prior month, indicating by appropriate classification the nature thereof, the corresponding budget category, and the portion of such costs charged to each of the Parties. These statements, as a minimum, shall contain the following information: - advances of funds setting forth the currencies received from each Party - the share of each Party in total expenditures - the current account balance of each Party - summary of costs, credits, and expenditures on a current month, year-to-date, and inception-to-date basis or other periodic basis, as agreed by Parties - details of unusual charges and credits in excess of U.S. dollars five thousand (U.S.$5,000.00). 1.5.2 Operator shall, upon request, furnish a description of the accounting classifications used by it. 1.5.3 Amounts included in the statements and billings shall be expressed in U.S. currency and reconciled to the currencies advanced. 1.5.4 Each Party shall be responsible for preparing its own accounting and tax reports to meet the requirements of the Country of Operations and of all other countries to which it may be subject. Without limiting the foregoing, each Party acknowledges that it will keep its records and accounts in accordance with Turkish Accounting Procedures and Fiscal Procedure Law as published in the Turkish Official Gazette on 10.01.

Statements and Billings. 1.5.1 Unless otherwise agreed by the Parties or pursuant to Turnkey contractsParties, Operator shall submit monthly Monthly to each Party, on or before the 25th 10th Day of each monthMonth, statements of the costs and expenditures incurred during the prior monthMonth, indicating by appropriate classification the nature thereof, the corresponding budget category, and the portion of such costs charged to each of the Parties. These statements, as a minimum, shall contain the following information: - advances of funds setting forth the currencies received from each Party - the share of each Party in total expenditures - the current account balance of each Party - summary of costs, credits, and expenditures on a current monthMonth, yearYear-to-date, and inception-to-date basis or other periodic basis, as agreed by Parties - details of unusual charges and credits in excess of U.S. dollars five thousand (U.S.$5,000.00). 1.5.2 Operator shall, upon request, furnish a description of the accounting classifications used by it. 1.5.3 Amounts included in the statements and billings shall be expressed in U.S. currency and reconciled to the currencies advanced. 1.5.4 Each Party shall be responsible for preparing its own accounting and tax reports to meet the requirements of the Country of Operations and of all other countries to which it may be subject. Without limiting the foregoing, each Party acknowledges that it will keep its records and accounts in accordance with Turkish Accounting Procedures and Fiscal Procedure Law as published in the Turkish Official Gazette on 10.01.