Tax and Financial Reports Sample Clauses

Tax and Financial Reports. (a) The Manager shall prepare or cause to be prepared the following reports for the benefit of the Members: (i) Within a reasonable time after the end of each Fiscal Year, the Company shall mail to each Member a statement as to its distributive share of income, gain, deduction, losses and credits, as the case may be, for income tax reporting purposes for such Fiscal Year, together with any other information concerning the Company necessary for the preparation of such Member's income tax return, including a Form K-1 for the Company. (ii) Within a reasonable time after the end of each calendar quarter, the Company shall mail to the Members a status report of the investments and activities of the Company during that quarter. (iii) As long as the Offering is continuing, the Company shall provide to the Members (and as appropriate to prospective investors) supplements to the Memorandum summarizing the material terms of proposed investments for the Company's property portfolio, with such supplements to be circulated as soon as is reasonably practicable after the Company enters into binding commitments to purchase such investments. (iv) Within a reasonable time after the end of each Fiscal Year, the Company shall mail to the Members a balance sheet and income statement for the Fiscal Year prepared in accordance with generally accepted accounting principals consistently applied, subject to noted exceptions, if any, which financial statements shall be audited by a firm of independent certified public accountants engaged on behalf of the Company by the Manager. (b) The Manager shall prepare or cause to be prepared all federal, state and local tax returns of the Company for each year for which such returns are required to be filed. (c) The Tax Matters Member shall promptly notify all Members of any audits of the Company by the Internal Revenue Service or any state or local taxing authority. (d) To the extent that the Company's indebtedness requires the preparation of reports, audits and statements, the Manager shall prepare or cause to be prepared all such reports, audits and statements, to comply with the terms of such indebtedness. (e) The Members shall not disclose information contained in any report or statement distributed by the Company without first securing the consent of the Manager, unless such disclosure is required by applicable law, in which event the disclosure shall be limited to those matters requiring disclosure. To the extent that the Company provid...
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Tax and Financial Reports. (a) Not later than April 1 after the end of each fiscal year, if practicable, each Partner shall be provided with an information letter with respect to his distributive share of income, gain, deduction, losses and credits, as the case may be, for income tax reporting purposes for the previous fiscal year, together with any other information concerning the Partnership necessary for the preparation of a Partner’s income tax return, including Form K-1 for the Partnership. (b) The General Partner shall prepare or cause to be prepared all federal, state, and local tax returns of the Partnership for each year for which such returns are required to be filed. The Tax Matters Partner designated in Section 7.5 shall promptly notify all other Partners of any Partnership audits by the Service or any state or local taxing authority. (c) The General Partner shall prepare or cause to be prepared all reports, audits, and statements required in connection with the indebtedness of the Partnership. (d) The General Partner shall cause to be distributed to the Partners, (A) not later than fifteen (15) busines days after the end of the first three calendar quarters, an income statement for the prior calendar quarter and (B) not later than forty five (45) business days after the end of each calendar year, a balance sheet and income statement for the prior calendar year, all prepared in accordance with generally accepted accounting principles consistently applied. Partner A, and its independent accountants shall have full access to the books and records of the Partnership in connection with, and as reasonably necessary for, the preparation of Partner A’s quarterly and annual financial statements.
Sample 1
Tax and Financial Reports. (a) Not later than April 1 after the end of each fiscal year, each Member shall be provided with an information letter with respect to its distributive share of income, gain, deduction, losses and credits, as the case may be, for income tax reporting purposes for the previous fiscal year, together with any other information concerning the Company necessary for the preparation of a Member’s income tax return, including Form K-1 from the Company. (b) The Managing Member shall prepare or cause to be prepared all federal, state and local tax returns of the Company for each year for which such returns are required to be filed. The “Tax Matters Member” designated in Section 7.5 shall promptly notify all other Members of any Company audits by the US Internal Revenue Service or any state or local taxing authority. (c) The Managing Member shall cause to be distributed to the Members, not later than April 1 after the end of each fiscal year, a balance sheet and income statement prepared for the prior calendar year in accordance with generally accepted accounting principles consistently applied.
Sample 1
Tax and Financial Reports. The General Partner shall prepare or cause to be prepared the following reports for the benefit of the Partners, and shall endeavor, in good faith, to deliver such reports in a timely manner, consistent with the General Partner’s general practice: (a) Monthly unaudited balance sheet and statements of income for the monthly period ending in the current Fiscal Year and the same period in the prior Fiscal Year; (b) Annual unaudited balance sheet and statements of income for the current Fiscal Year and the prior Fiscal Year; (c) Schedule K-1 for each Fiscal Year; and (d) Any other information that is in the possession of the General Partner that any Partner may reasonably request.
Sample 1
Tax and Financial Reports. The Members acknowledge that the Company will be treated as a “partnership” for federal income tax purposes. All provisions of this Agreement shall be construed so as to preserve that tax status. Not later than April 1 after the end of each fiscal year, each person who was a Member at any time during such fiscal year shall be provided with a Form K-1 and such other information, if any, with respect to the Company as may be necessary for the preparation of each Member’s federal or state income tax (or information) returns, including a statement showing each Member’s share of income, gain or loss, and credits for the Fiscal Year. The Managers shall prepare or cause to be prepared all federal, state and local tax returns of the Company for each year for which such returns are required to be filed. The “tax matters partner” designated in Section 8.5 shall promptly notify all other Members of any Company audits by the Internal Revenue Service or any state or local taxing authority. The Managers shall prepare or cause to be prepared all reports, audits and statements required in connection with the indebtedness of the Company. The Managers shall cause to be distributed to the Members, not later than April 1 after the end of each fiscal year, a balance sheet and income statement for the prior calendar year prepared in accordance with generally accepted accounting principles consistently applied.
Sample 1
Tax and Financial Reports. (a) The Company will be treated as a “partnership” and each of the Members as “partners” for federal income tax purposes. All provisions of this Agreement shall be construed so as to preserve that tax status. (b) Not later than April 1 after the end of each Fiscal Year, each Person who was a Member at any time during such Fiscal Year shall be provided with a Form K-1 and such other information, if any, with respect to the Company as may be necessary for the preparation of each Member’s federal or state income tax (or information) returns, including a statement showing each Member’s share of income, gain or loss, and credits for the Fiscal Year. (c) The Managers shall prepare or cause to be prepared all tax returns of the Company for each year for which such returns are required to be filed. The Tax Matters Partner designated in Section 8.5 hereof shall promptly notify all other Members of any Company audits by the Internal Revenue Service or any state or local taxing authority. (d) The Managers shall prepare or cause to be prepared all reports, audits and statements required in connection with the indebtedness of the Company. (e) The Managers shall cause to be distributed to the Members, not later than April 1 after the end of each Fiscal Year, a balance sheet and income statement for the prior calendar year prepared in accordance with generally accepted accounting principles consistently applied.
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Related to Tax and Financial Reports

  • 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.

  • Financial Reports The Company will, and will cause each Subsidiary to, maintain a system of accounting in accordance with sound accounting practice and will furnish promptly to the Banks and their duly authorized representatives such information respecting the business and financial condition of the Company and its Subsidiaries as may from time to time be reasonably requested and, without any request, will furnish each Bank: (a) as soon as available, and in any event within forty (40) days after the close of each monthly fiscal period of the Company, a copy of consolidated balance sheets and consolidated profit and loss statements for the Company and its Subsidiaries (for such monthly period and the year to date) for such period of the Company and for the corresponding periods of the preceding fiscal year, all in reasonable detail, prepared by the Company and accompanied by a certificate of the chief financial officer, chief executive officer or chief accounting officer of the Company to the effect that said financial statements were prepared in conformity with generally accepted accounting principles and, in his opinion, are fairly and accurately stated; (b) as soon as available, and in any event within ninety (90) days after the close of each fiscal year of the Company, a copy of the audit report for such fiscal year and accompanying financial statements, including consolidated balance sheets, reconciliations of change in stockholders’ equity, profit and loss statements and statements of cash flows for the Company and its Subsidiaries showing in comparative form the figures for the previous fiscal year of the Company, all in reasonable detail, accompanied by the unqualified opinion of Ernst & Young or other independent public accountants of nationally recognized standing selected by the Company; (c) within forty-five (45) days after the last day of the first three fiscal quarters in each fiscal year and within ninety (90) days after the close of each fiscal year of the Company, a Compliance Certificate in the form of Exhibit E attached hereto, prepared and signed by the chief financial officer, chief executive officer, or controller of the Company; (d) as soon as available but in any event no later than November 30 of each year, a consolidated budget for the Company and its Subsidiaries for such fiscal year showing the Company’s and its Subsidiaries’ projected consolidated balance sheet and consolidated profits and losses, and a consolidated budget for the Company and its Subsidiaries for such fiscal year showing the Company’s and its Subsidiaries’ projected consolidated capital expenditures, all in reasonable detail; and (e) as soon as available but in any event within ten (10) days of the filing thereof, copies of all 10-K, 10-Q and 8-K filings and all shareholder proxy materials filed by the Company or any Subsidiary with the Securities and Exchange Commission.

  • Financial Reports, Etc 74 9.2. Maintain Properties............................................................................76 9.3. Existence, Qualification, Etc..................................................................76 9.4. Regulations and Taxes..........................................................................76 9.5. Insurance, Proceeds and Condemnation...........................................................76 9.6.

  • Annual Financial Reports The Borrower shall provide, or shall cause to be provided, to the Administrative Agent, as soon as available, but in any event within 120 days after the end of each fiscal year of the Borrower (commencing with the fiscal year ended December 31, 2012), a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income or operations, partners’ equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, such consolidated statements to be audited and accompanied by a report and opinion of an independent certified public accountant of nationally recognized standing reasonably acceptable to the Administrative Agent, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit, and such statements to be certified by the chief executive officer or chief financial officer of the Borrower, to the effect that (i) such statements fairly, in all material respects, present the financial condition, results of operations, partners’ equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP and (ii) there were no material contingent obligations, material unaccrued liabilities for taxes, material unusual forward or long-term commitments, or material unrealized or anticipated losses of the Borrower and its Subsidiaries, except as disclosed therein or as otherwise disclosed in writing to the Administrative Agent and adequate reserves for such items have been made in accordance with GAAP;

  • Audits and Financial Statements A. Audits i. HHS Single Audit Unit will notify Grantee to complete the Single Audit Determination Form. If Grantee fails to complete the form within thirty (30) calendar days after receipt of notice, Grantee will be subject to the sanctions and remedies for non-compliance with this Contract. ii. If Grantee, within Xxxxxxx’s fiscal year, expends at least SEVEN HUNDRED FIFTY THOUSAND DOLLARS ($750,000) in federal funds awarded, Grantee shall have a single audit or program-specific audit in accordance with 2 CFR 200. The federal threshold amount includes federal funds passed through by way of state agency awards. iii. If Grantee, within Xxxxxxx’s fiscal year, expends at least SEVEN HUNDRED FIFTY THOUSAND DOLLARS ($750,000) in state funds awarded, Grantee shall have a single audit or program-specific audit in accordance with UGMS, State of Texas Single Audit Circular. The audit must be conducted by an independent certified public accountant and in accordance with 2 CFR 200, Government Auditing Standards, and UGMS. iv. For-profit Grantees whose expenditures meet or exceed the federal or state expenditure thresholds stated above shall follow the guidelines in 2 CFR 200 or UGMS, as applicable, for their program-specific audits. v. Each Grantee that is required to obtain a single audit must competitively re-procure single audit services once every six years. Grantee shall procure audit services in compliance with this section, state procurement procedures, as well as with the provisions of UGMS. B. Financial Statements Each Grantee that does not meet the expenditure threshold for a single audit or program- specific audit, must provide financial statements.

  • Fund Valuation and Financial Reporting Services (1) Account for Fund share purchases, sales, exchanges, transfers, dividend reinvestments, and other Fund share activity as reported by the Fund’s transfer agent on a timely basis. (2) Apply equalization accounting as directed by the Fund. (3) Determine net investment income (earnings) for the Fund as of each valuation date. Account for periodic distributions of earnings to shareholders and maintain undistributed net investment income balances as of each valuation date. (4) Maintain a general ledger and other accounts, books, and financial records for the Fund in the form as agreed upon. (5) Determine the net asset value of the Fund according to the accounting policies and procedures set forth in the Fund’s current prospectus. (6) Calculate per share net asset value, per share net earnings, and other per share amounts reflective of Fund operations at such time as required by the nature and characteristics of the Fund. (7) Communicate to the Fund, at an agreed upon time, the per share net asset value for each valuation date. (8) Prepare monthly reports that document the adequacy of accounting detail to support month-end ledger balances. (9) Prepare monthly security transactions listings.

  • Monthly Financial Reports Manager shall cause to be prepared and delivered to Tenant reasonably detailed unaudited monthly operating reports (the “Monthly Reports”) that reflect the operational results of the Managed Facility for each month of each Operating Year. Manager shall deliver each Monthly Report to Tenant on or before the twenty fifth (25th) day of the month following the month (or partial month) to which such Monthly Report relates. At a minimum, the Monthly Reports shall include: (a) a balance sheet including current and prior month and prior year-end comparisons (to the extent applicable) and differences in reasonable detail; (b) an income and expense statement for such month and for the elapsed portion of the current Operating Year through the end of such month (with comparison to previous year); (c) a statement of cash flows for such month and for the elapsed portion of the current Operating Year through the end of such month (with comparison to previous year) in reasonable detail to allow Tenant to identify and ascertain sources and uses thereof; (d) a statement of account balances in each Bank Account; and (e) such other reports or information otherwise specified in this Agreement to be provided to Tenant on a monthly basis or as Tenant and Manager may reasonably agree from time to time. Notwithstanding anything to the contrary contained in this Section 10.2, Manager shall not be obligated to deliver a Monthly Report for the last month of each calendar quarter.

  • RECORDS AND FINANCIAL STATEMENTS The Advisor, in the conduct of its responsibilities to the Company, shall maintain adequate and separate books and records for the Company’s operations in accordance with GAAP, which shall be supported by sufficient documentation to ascertain that such books and records are properly and accurately recorded. Such books and records shall be the property of the Company and shall be available for inspection by the Board and by counsel, auditors and other authorized agents of the Company, at any time or from time to time during normal business hours. Such books and records shall include all information necessary to calculate and audit the fees or reimbursements paid under this Agreement. The Advisor shall utilize procedures to attempt to ensure such control over accounting and financial transactions as is reasonably required to protect the Company’s assets from theft, error or fraudulent activity. All financial statements that the Advisor delivers to the Company shall be prepared on an accrual basis in accordance with GAAP, except for special financial reports that by their nature require a deviation from GAAP. The Advisor shall liaise with the Company’s officers and independent auditors and shall provide such officers and auditors with the reports and other information that the Company so requests.

  • Reports and Financial Statements By signing this Agreement, each Lender: (a) agrees to furnish the Administrative Agent promptly upon the furnishing of any Bank Product or Cash Management Service and thereafter at such frequency as the Administrative Agent may reasonably request with a summary of all Other Liabilities due or to become due to such Lender. In connection with any distributions to be made hereunder, the Administrative Agent shall be entitled to assume that no amounts are due to any Lender on account of Other Liabilities unless the Administrative Agent has received written notice thereof from such Lender; (b) is deemed to have requested that the Administrative Agent furnish such Lender, promptly after they become available, copies of all financial statements required to be delivered by the Lead Borrower hereunder and all Borrowing Base Certificates, commercial finance examinations and appraisals of the Collateral received by the Agents (collectively, the “Reports”); (c) expressly agrees and acknowledges that the Administrative Agent makes no representation or warranty as to the accuracy of the Reports, and shall not be liable for any information contained in any Report; (d) expressly agrees and acknowledges that the Reports are not comprehensive audits or examinations, that the Agents or any other party performing any audit or examination will inspect only specific information regarding the Loan Parties and will rely significantly upon the Loan Parties’ books and records, as well as on representations of the Loan Parties’ personnel; (e) agrees to keep all Reports confidential in accordance with the provisions of Section 10.07 hereof; and (f) without limiting the generality of any other indemnification provision contained in this Agreement, agrees: (i) to hold the Agents and any such other Lender preparing a Report harmless from any action the indemnifying Lender may take or conclusion the indemnifying Lender may reach or draw from any Report in connection with any Credit Extensions that the indemnifying Lender has made or may make to the Borrowers, or the indemnifying Lender’s participation in, or the indemnifying Lender’s purchase of, a Loan or Loans; and (ii) to pay and protect, and indemnify, defend, and hold the Agents and any such other Lender preparing a Report harmless from and against, the claims, actions, proceedings, damages, costs, expenses, and other amounts (including attorney costs) incurred by the Agents and any such other Lender preparing a Report as the direct or indirect result of any third parties who might obtain all or part of any Report through the indemnifying Lender.

  • Financial Management; Financial Reports; Audits 1. The Recipient shall ensure that a financial management system is maintained in accordance with the provisions of Section 2.07 of the Standard Conditions. 2. The Recipient shall ensure that interim unaudited financial reports for the Project are prepared and furnished to the World Bank not later than forty five (45) days after the end of each calendar quarter, covering the quarter, in form and substance satisfactory to the World Bank. 3. The Recipient shall have its Financial Statements for the Project audited in accordance with the provisions of Section 2.07(b) of the Standard Conditions. Each such audit of the Financial Statements shall cover the period of one fiscal year of the Recipient. The audited Financial Statements for each such period shall be furnished to the World Bank not later than six (6) months after the end of such period.

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