Preparation of Accounts Clause Samples

Preparation of Accounts. 8.1 The LICENSEE will draw, keep and furnish independent accounts for the SERVICE and shall fully comply with the orders, directions or regulations as may be issued from time to time by the LICENSOR or TRAI as the case may be. 8.2 The LICENSEE shall be obliged to: a) Compile and maintain accounting records, sufficient to show and explain its transactions in respect of each completed quarter of the LICENCE period or of such lesser periods as the LICENSOR may specify, fairly presenting the costs (including capital costs), revenue and financial position of the LICENSEE’s business under the LICENCE including a reasonable assessment of the assets employed in and the liabilities attributable to the LICENSEE’s business, as well as, for the quantification of Revenue or any other purpose. b) Procure in respect of each of those accounting statements prepared in respect of a completed financial year, a report by the LICENSEE’s AUDITOR in the format prescribed by the LICENSOR, stating inter-alia, whether in his opinion that statement is adequate for the purpose of this condition and thereafter deliver to the LICENSOR a copy of each of the accounting statements along with the said report not later than three months after the end of the period to which they relate. c) Send to the LICENSOR a certified statement sworn on an affidavit, by authorized representative of the company, containing full account of Revenue earned from the SERVICE for each quarter separately along with the payment for the following quarter. (a) The LICENSOR or the TRAI, as the case may be, shall have a right to call for and the LICENSEE shall be obliged to supply and provide for examination, any books of accounts that the LICENSEE may maintain in respect of the business carried on to provide the service(s) under this LICENCE at any time. (b) The LICENSEE shall invariably preserve all billing and all other accounting records (electronic as well as hard copy) for a period of one year from the date of publishing of duly audited & approved Accounts of the company and any dereliction thereof shall be treated as a material breach independent of any other breach, sufficient to give a cause for cancellation of the LICENCE. 8.4 The records of the LICENSEE will be subject to such scrutiny as may be prescribed by the LICENSOR so as to facilitate independent verification of the amount due to the LICENSOR as its share of the revenue. 8.5 The LICENSOR may, on forming an opinion that the statements or accounts sub...

Preparation of Accounts. 22.1 The Licensee will draw, keep and furnish independent accounts for each service and service area and shall fully comply with any order, direction or regulation as may be issued by TRAI and rules/instructions/directions as are issued by the Licensor from time to time 22.2 The Licensee shall be obliged, in respect of each authorized service and service area separately, to: a) Compile and maintain accounting records, sufficient to show and explain its transactions in respect of each completed quarter of the License period or of such lesser periods as the Licensor may specify, fairly presenting the costs (including capital costs), revenue and financial position of the Licensee’s business under the License including a reasonable assessment of the assets employed in and the liabilities attributable to the Licensee’s business, as well as, for the quantification of Revenue or any other purpose.

Preparation of Accounts. 22.1 The LICENSEE will draw, keep and furnish independent accounts for the SERVICE and shall fully comply orders, directions or regulations as may be issued from time to time by the LICENSOR or TRAI as the case may be. 22.2 The LICENSEE shall be obliged to: a) Compile and maintain accounting records, sufficient to show and explain its transactions in respect of each completed quarter of the Licence period or of such lesser periods as the LICENSOR may specify, fairly presenting the costs (including capital costs), revenue and financial position of the LICENSEE’s business under the LICENCE including a reasonable assessment of the assets employed in and the liabilities attributable to the LICENSEE’s business, as well as, for the quantification of Revenue or any other purpose.

Preparation of Accounts. The Borrower will ensure that all accounts to be delivered by it under this Agreement are prepared in such manner that Clause 16.1(p) would be complied with.

Preparation of Accounts. For the purposes of this condition, but without prejudice to paragraph 67, the licensee must prepare regulatory accounts for each financial year ending on 31 March.

Preparation of Accounts. The LICENSEE shall; (a) maintain and prepare accounting records, sufficient to show and explain its transactions in respect of each financial year or part thereof of the LICENCE during which this Licence is in force, or of such lesser periods as the LICENSOR may specify, fairly presenting the costs (including capital costs), revenue and financial position of the LICENSEE's business and including a reasonable assessment of the assets employed in and liabilities attributable to the LICENSEE's business. (b) procure in respect of each of those accounting statements prepared in respect of a financial year or part thereof of the LICENSEE, a report by the LICENSEE'S Auditor stating whether in his opinion that statement is adequate for the purposes of the condition; and (c) deliver to the LICENSOR a copy of each of the accounting statements not later than six months after the end of the period to which they relate.

Preparation of Accounts. The Borrower will prepare the financial statements referred to in Clause 10.1 (c) on a basis consistently applied in accordance with generally accepted accounting principles in Malaysia and those financial statement shall give a true and fair view of the results of the operations of the Borrower for the period in question and the state of its affairs for the period to which the financial statements are made up and shall disclose or reserve against all the liabilities (actual or contingent) of the Borrower;

Preparation of Accounts it will ensure that all accounts to be delivered by it under this Agreement are prepared in such manner that Clause 18.8 would be complied with if applied to those accounts by Clause 18.14.

Preparation of Accounts the Borrower will prepare and procure that the financial statements referred to in paragraph (g) below are prepared on a basis consistently applied in accordance with generally accepted accounting principles in the USA, and those financial statements shall give a true and fair view of the results of the operations of its Borrower for the period in question and the state of their affairs for the period to which the financial statements are made up and shall disclose or reserve against all the liabilities (actual or contingent) of the Borrower;