Maintaining Books of Account Clause Samples

The "Maintaining Books of Account" clause requires a party, typically a business or organization, to keep accurate and up-to-date financial records related to its operations. This involves recording all transactions, receipts, and expenditures in a systematic manner, often in accordance with applicable accounting standards or legal requirements. By mandating proper bookkeeping, the clause ensures transparency, facilitates audits, and helps prevent financial mismanagement or disputes.
Maintaining Books of Account. Proper and complete books of account shall be kept at all times and shall be open to inspection by any Partner or their accredited representative at reasonable times during office hours.
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Maintaining Books of Account. The General Partner will keep proper and complete books of account of the Partnership at all times and Limited Partners or their accredited representative will be able to inspect such books of account at reasonable times during office hours.
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Maintaining Books of Account. Proper and complete books of account and records of each Series shall be kept at all times by the Managing Member or its delegate and shall be open to inspection and copying by any Member subscribed to such Series or such Member’s designated representative (at such Member’s expense) at reasonable times during office hours; provided that, notwithstanding anything to the contrary in this Agreement, each Member hereby waives its right to obtain any information with respect to the other Series and the relevant Members therein, including the information in Schedule I to this Agreement and any relevant portions of Appendix A relating to Series not offered to such Member, to the maximum extent not prohibited by applicable law.‌
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Related to Maintaining Books of Account

  • Books of Account Maintain the books of account of the Trusts and perform the following duties in the manner prescribed by the respective Trust's currently effective prospectus, statement of additional information or other governing document, copies of which have been certified by the Secretary of the Funds and supplied to the Accounting Agent (a "Governing Document") (including the procedures established in the Service Level Agreement): a. Value the assets of each Portfolio using: primarily, market quotations (including the use of matrix pricing) supplied by the independent pricing services selected by the Accounting Agent in consultation with the Trust's investment adviser (the "Adviser") and approved by the Board; secondarily, if a designated pricing service does not provide a price for a security that the Accounting Agent believes should be available by market quotation, the Accounting Agent may obtain a price by calling brokers designated by the Adviser, or if the Adviser does not supply the names of such brokers, the Accounting Agent will attempt on its own to find brokers to price the security, subject to approval by the Adviser; thirdly, for securities for which no market price is available, the Valuation Committee overseen by the Board (the "Committee") will determine a fair value in good faith; or fourthly, such other procedures as may be adopted by the Board. Consistent with Rule 2a-4 under the 1940 Act, estimates may be used where necessary or appropriate. The Accounting Agent is not the guarantor of the accuracy of the securities prices received from such pricing agents and the Accounting Agent is not liable to the Trusts for errors in valuing a Portfolio's assets or calculating the net asset value (the ''NAV") per share of such Portfolio or class when the calculations are based upon inaccurate prices provided by pricing agents. The Accounting Agent will provide daily to the Adviser the security prices used in calculating the NAV of each Portfolio, for its use in preparing exception reports for those prices on which the Adviser has a comment. Further, upon receipt of the exception reports generated by the Adviser, the Accounting Agent will diligently pursue communication regarding exception reports with the designated pricing agents; b. Determine the NAV per share of each Portfolio and/or class, at the time and in the manner from time to time determined by the Board and as set forth in the Prospectus of such Portfolio; c. Prepare the daily mark-to-market reports and analysis incompliance with Rule 2a-7 for each of the money market portfolios. d. Calculate the net income of each of the Portfolios, if any;

  • Books of Accounts The LLC shall maintain proper books of account, which shall comply with all applicable federal income tax regulation and with generally accepted accounting practices as applicable to limited liability companies.

  • Books of Account and Records Proper and complete records and books of account shall be kept or shall be caused to be kept by the Board of Directors or such representatives as it may appoint in which shall be entered fully and accurately all transactions and other matters relating to the Company’s business in such detail and completeness as is customary and usual for businesses of the type engaged in by the Company. The books and records shall at all times be maintained at the principal executive office of the Company.

  • Records and Books of Account The records and books of account of the Company reflect all material items of income and expense and all material assets, liabilities and accruals, have been, and to the Closing Date will be, regularly kept and maintained in conformity with GAAP applied on a consistent basis with preceding years.

  • Keeping Books and Records The Borrower will maintain, and will cause each Subsidiary to maintain, proper books of record and account in which full, true, and correct entries in conformity with GAAP shall be made of all dealings and transactions in relation to its business and activities.