Common use of Accounting Records and Reports Clause in Contracts

Accounting Records and Reports. DMN shall implement and maintain an accounting system appropriate and adequate for the needs of the Company and shall provide to the Company, on or before the last business day of each month, monthly unaudited financial statements for the prior month for each Center. These financial statements shall be prepared on an accrual basis in accordance with generally accepted accounting principles consistently applied. Within 90 days after the end of each fiscal year of the Company, DMN will provide to the members in the Company such financial information necessary to permit them to prepare their tax returns, and within 120 days after the end of each fiscal year of the Company, DMN will provide to the Partners in the Company unaudited financial statements for the prior fiscal year prepared in accordance with generally accepted accounting principles, which financial statements include a comparison of actual performance to Budget. In addition, the Managers may, at any time upon reasonable advance notice to DMN, and the members in the Company may, to the extent permitted under the Joint Venture Agreement, inspect the books and records of the Company.