RECORDS AND FINANCIAL STATEMENTS. (a) The General Partner shall cause the Partnership to maintain or cause to be maintained true and proper books, records, reports, and accounts in which shall be entered all transactions of the Partnership. Such books, records, reports and accounts shall be located at the principal place of business of the Partnership and shall be available to any Partner for inspection and copying during reasonable business hours. (b) The books and records of the Partnership may in the Limited Partner's discretion and at its expense be audited annually by an independent accounting firm selected by the Limited Partner from time to time. For purposes of determining and maintaining the Partners' Capital Accounts, the books of account of the Partnership shall be maintained in accordance with federal income tax principles (adjusted as provided in this Agreement) and the accrual method of accounting. Additionally, the General Partner shall cause the Partnership's financial books and records to be maintained in compliance with GAAP. (c) Within a reasonable time after each Fiscal Year, a copy of the following shall be mailed or otherwise furnished to each Partner and shall include (i) a balance sheet of the Partnership, (ii) income and cash flow statements of the Partnership, (iii) a statement of changes in the Partners' Capital Account balances from the last day of the prior Fiscal Year, and (iv) if applicable, the report of the results of the examination by the Partnership's independent auditors . (d) Upon completion of any valuation of the Partnership's assets in accordance with the provisions of Section 6.13, the Valuation Partner shall furnish to each Partner a statement showing (i) the net worth of the Partnership and the Fair Market Value of each Partnership asset and (ii) the Capital Account balance of such Partner. (e) The General Partner shall keep or cause to be kept the following records at the principal office of the Partnership or make them available at that office within five days after the date of receipt of a written request therefor pursuant to Section 6.1: (i) a current list that states (w) the name and mailing address of each Partner, separately identifying in alphabetical order each general partner and limited partner; (x) the last known street address of the business or residence of each general partner; (y) the percentage or other interest in the Partnership owned by each partner; and (z) the names of the partners who are members of each specified class or group established pursuant to this Agreement; (ii) copies of the Partnership's federal, state, and local information or income tax returns for each of the Partnership's six most recent tax years; (iii) a copy of this Agreement and the Certificate of Limited Partnership, all amendments or restatements, executed copies of any powers of attorney under which this Agreement, the Certificate of Limited Partnership, and all amendments or restatements to this Agreement and the Certificate have been executed, and copies of any document that creates, in the manner provided by this Agreement, classes or groups of partners; (iv) a written statement of: (x) the amount of the cash contribution and a description and statement of the agreed value of any other contribution made by each Partner, and the amount of the cash contribution and a description and statement of the agreed value of any other contribution that the Partner has agreed to make in the future as an additional contribution; and (y) the date on which each Partner in the Partnership became a Partner; and (v) books and records of account of the Partnership. Any records maintained by the Partnership in the regular course of its business may be kept on, or be in the form of, punch cards, magnetic tape, photographs, micrographics, computer disks, or any other information storage device, if the records so kept are convertible into clearly legible written form within a reasonable period of time. The names, the business, residence, or mailing addresses, and the capital contributions to the Partnership of the Partners are as shown on the books and records of the Partnership.
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RECORDS AND FINANCIAL STATEMENTS. (a) The General Partner shall cause the Partnership to maintain or cause to be maintained true and proper books, records, reports, and accounts in which shall be entered all transactions of the Partnership. Such books, records, reports and accounts shall be located at the principal place of business of the Partnership and shall be available to any Partner for inspection and copying during reasonable business hours.
(b) The books and records of the Partnership may in the Limited Partner's discretion and at its expense be audited annually by an independent accounting firm selected by the Limited Partner from time to time. For purposes of determining and maintaining the Partners' Capital Accounts, the books of account of the Partnership shall be maintained in accordance with federal income tax principles (adjusted as provided in this Agreement) and the accrual method of accounting. Additionally, the General Partner shall cause the Partnership's financial books and records to be maintained in compliance with GAAP.
(c) Within a reasonable time after each Fiscal Year, a copy of the following shall be mailed or otherwise furnished to each Partner and shall include (i) a balance sheet of the Partnership, (ii) income and cash flow statements of the Partnership, (iii) a statement of changes in the Partners' Capital Account balances from the last day of the prior Fiscal Year, and (iv) if applicable, the report of the results of the examination by the Partnership's independent auditors auditors.
(d) Upon completion of any valuation of the Partnership's assets in accordance with the provisions of Section 6.13, the Valuation Partner shall furnish to each Partner a statement showing (i) the net worth of the Partnership and the Fair Market Value of each Partnership asset and (ii) the Capital Account balance of such Partner.
(e) The General Partner shall keep or cause to be kept the following records at the principal office of the Partnership or make them available at that office within five days after the date of receipt of a written request therefor pursuant to Section 6.1:
(i) a current list that states (w) the name and mailing address of each Partner, separately identifying in alphabetical order each general partner and limited partner; (x) the last known street address of the business or residence of each general partner; (y) the percentage or other interest in the Partnership owned by each partner; and (z) the names of the partners who are members of each specified class or group established pursuant to this Agreement;
(ii) copies of the Partnership's federal, state, and local information or income tax returns for each of the Partnership's six most recent tax years;
(iii) a copy of this Agreement and the Certificate of Limited Partnership, all amendments or restatements, executed copies of any powers of attorney under which this Agreement, the Certificate of Limited Partnership, and all amendments or restatements to this Agreement and the Certificate have been executed, and copies of any document that creates, in the manner provided by this Agreement, classes or groups of partners;
(iv) a written statement of: (x) the amount of the cash contribution and a description and statement of the agreed value of any other contribution made by each Partner, and the amount of the cash contribution and a description and statement of the agreed value of any other contribution that the Partner has agreed to make in the future as an additional contribution; and (y) the date on which each Partner in the Partnership became a Partner; and
(v) books and records of account of the Partnership. Any records maintained by the Partnership in the regular course of its business may be kept on, or be in the form of, punch cards, magnetic tape, photographs, micrographics, computer disks, or any other information storage device, if the records so kept are convertible into clearly legible written form within a reasonable period of time. The names, the business, residence, or mailing addresses, and the capital contributions to the Partnership of the Partners are as shown on the books and records of the Partnership.
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