Accounting and Auditors Sample Clauses

The 'Accounting and Auditors' clause establishes the requirements for maintaining accurate financial records and designates the procedures for appointing or engaging auditors to review those records. Typically, this clause outlines the standards for bookkeeping, the frequency and scope of audits, and the rights of parties to access financial statements or audit reports. Its core function is to ensure transparency and accountability in financial matters, thereby reducing the risk of mismanagement or disputes over financial reporting.
Accounting and Auditors. No Obligor shall (and the Borrowers shall ensure that no member of the Group will): (a) Change its Accounting Reference Date; (b) change its Financial Year; (c) change its Accounting Principles; or (d) change its Auditors, without the Majority Lenders’ written consent.
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Accounting and Auditors. The annual accounting period of SEN shall end on December 31 of each year. Complete books of account and records shall be kept by SEN according to sound accounting practices. SEN shall have two (2) statutory auditors, one of which shall be nominated by SUMITOMO and one of which shall be nominated by EATON. The parties agree to vote their respective shareholdings in SEN for the statutory auditor nominated from time to time by the other party.
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Accounting and Auditors. The annual accounting period of S-Y shall be the 12 month period beginning on April 1 and ending on March 31 of each year. Complete books of account and records shall be kept by S-Y according to sound accounting practices. S-Y shall have two (2) statutory auditors. SHI and Eaton agree, as long as Eaton and SHI each own Fifty Percent (50%) of the issued shares of S-Y, to vote their shares in S-Y so that at all times one (1) statutory auditor shall be a person nominated by SHI and one (1) statutory auditor shall be a person nominated by Eaton.
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Accounting and Auditors 
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Related to Accounting and Auditors

  • ACCOUNTING AND AUDIT The Agency shall utilize and maintain such records and practices regarding receipts and disbursements of the Funds as to be in accordance with generally accepted accounting principles. All such records shall be open to inspection and audit by the City or by the City's designee during normal business hours during the term hereof and for a period of three (3) years after the termination of this Agreement. Any cost incurred by the Agency as a result of a City audit shall be the sole responsibility of and shall be borne by the Agency. In addition, should the Agency provide any or all of the Funds to sub-recipients, then and in that event the Agency shall include in written agreements with such sub-recipients a requirement that records of the sub-recipient be open to inspection and audit by the City or the City's designee to the same extent as those of the Agency.

  • Accounting and Tax Matters The General Partner shall keep proper and usual books and records pertaining to the Partnership’s business in accordance with generally accepted accounting principles. The books and records and all files of the Partnership shall be kept at its principal office. The General Partner shall prepare and furnish to the Limited Partners promptly after the close of each fiscal year an unaudited statement, certified by the General Partner, showing the operations of the Partnership for such fiscal year, including a balance sheet and statement of income or loss and changes in financial position for such fiscal year, the balance of each Limited Partner’s Capital Account, the unpaid balance due under all obligations of the Partnership and all other information reasonably requested by any Partner. The Limited Partners, and the authorized agents thereof, shall have the right at all reasonable times to audit, examine and make copies or extracts from the Partnership books of account. Federal, state and local income tax returns of the Partnership shall be prepared and timely filed by the General Partner. Copies of the tax returns shall be furnished to the Limited Partners prior to filing thereof. The General Partner is hereby designated the tax matters partner of the Partnership.

  • Accounting and Fiscal Year Subject to Code Section 448, the books of the Partnership shall be kept on such method of accounting for tax and financial reporting purposes as may be determined by the General Partner. The fiscal year of the Partnership shall end on December 31 of each year, or on such other date permitted under the Code as the General Partner shall determine.

  • Accounting and Records The books and records of the Company shall be made and maintained, and the financial position and the results of its operations recorded, at the expense of the Company, in accordance with such method of accounting as is determined by the Managing Member. The books and records of the Company shall reflect all Company transactions and shall be made and maintained in a manner that is appropriate and adequate for the Company’s business.

  • Accounting and Reports (a) The Company shall adopt for tax accounting purposes any accounting method that the Board shall decide in its sole discretion is in the best interests of the Company. The Company’s accounts shall be maintained in U.S. currency. (b) After the end of each Taxable Year, the Company shall furnish to each Member such information regarding the operation of the Company and such Member’s Interest as is necessary for Members to complete U.S. federal and state income tax or information returns and any other tax information required by U.S. federal and state law. (c) Except as otherwise required by the 1940 Act, or as may otherwise be permitted by rule, regulation or order, within 60 days after the close of the period for which a report required under this Section 7.1 is being made, the Company shall furnish to each Member an unaudited semi-annual report and an audited annual report containing the information required by such Act. The Company shall cause financial statements contained in each annual report furnished hereunder to be accompanied by a certificate of independent public accountants based upon an audit performed in accordance with generally accepted accounting principles. The Company may furnish to each Member such other periodic reports as it deems necessary or appropriate in its discretion.