Common use of Interim Closing of the Books Clause in Contracts

Interim Closing of the Books. There shall be an interim closing of the books of account of the Partnership (i) at any time a taxable year of the Partnership ends pursuant to the Code and (ii) at such other times as the general Partners shall determine are required by good accounting practice or may be appropriate under the circumstances. In accordance with this section, the Partnership shall cause an interim closing of the books at the time of the closing of the acquisition of the Partnership by Host Marriott, L.P. through a merger of an indirect wholly-owned subsidiary of Host Marriott, L.P. and Host Marriott Trust with and into the Partnership, with the Interests in the Partnership being exchanged for and converted into units of limited partnership interest in Host Marriott, L.P.

Interim Closing of the Books. There shall be an interim closing of the books of account of the Partnership (i) at any time a taxable year of the Partnership ends ended pursuant to the Code and (ii) at such other times as the general Partners General Partner shall determine are required by good accounting practice or may be appropriate under the circumstances. In accordance with this section, the Partnership shall cause an interim closing of the books at the time of the closing of the acquisition merger of the Partnership into ________________ [Merger Sub] to reflect the exchange by Host Marriott, L.P. through a merger the General Partner and Limited Partners of an indirect wholly-owned subsidiary of Host Marriott, L.P. and Host Marriott Trust with and into the Partnership, with the their Interests in the Partnership being exchanged for and converted into units of limited partnership interest interests in Host Marriott, L.P.