System of Accounts Clause Samples

System of Accounts. The warehouse operator agrees to: 1. Have and maintain a system of accounts approved for the purpose by FSA. This system of accounts must include an accurate and concise daily position record showing, as activity occurs, the total weight of cottonseed in licensed space: a. Total cottonseed unloaded into the warehouse, b. Total cottonseed loaded out of the warehouse, c. Total cottonseed adjustments, d. Total cottonseed remaining in the warehouse at the close of each business day, e. Total obligations transferred to another warehouse, f. Total negotiable and non-negotiable warehouse receipts issued, canceled, and balance outstanding, g. Total increase, decrease, and outstanding un-receipted obligations belonging to others including cottonseed bank, h. Total cottonseed owned by the warehouse operator for which warehouse receipts have not been issued, and i. Total cottonseed obligations. 2. Maintain a separate set of records for each depositor showing for each bag or lot of cottonseed, the name of the depositor, the weight of the cottonseed, the number of bags in each lot, the grade, the location, the dates received and delivered out of storage, the receipts issued and canceled which must include a detailed record of all money received and disbursed and, if applicable, all insurance policies taken out and canceled on request of each depositor. These records will be maintained accurately and concisely as activity occurs. The warehouse operator must retain these records for a period of six years after December 31 of the year in which they were created, and for such longer period as may be necessary for the purposes of any litigation which the warehouse operator knows to be pending, or as may be required by FSA in particular cases to carry out the purposes of the Act. 3. Maintain similar records and information for any non-storage cottonseed handled through the warehouse. Records required with respect to non-storage cottonseed must be retained, as a part of the records of the warehouse, for a period of one year after December 31 of the year in which the lot of non-storage cottonseed is delivered from the warehouse. 4. Maintain a record of the temperature of stored cottonseed for each bin.

System of Accounts. In order to determine the “R” Factor, the Contractor shall keep a special system of accounts to record, in Dollars, income and expenditure related to the Contract Operations. This system shall consist of two main accounts: the “R” Factor Income Account, and the “R” Factor Expenditure Account.

System of Accounts. The Operating Agent shall use FPC Accounts, as modified by the bulletins and directives of the Rural Electrification Administration, with appropriate subaccounts, to account for all operation and maintenance costs of the Project.

System of Accounts. Until January 1, 2006, the Company shall maintain at the Company's principal offices a system of accounting for each of the Agency Business and the Technology Business conducted by Company established and administered in accordance with GAAP which shall contain such information as is reasonably necessary or appropriate to permit an accurate determination of the Pre-Tax Earnings of the Agency Business for purposes of Section 3.1(c) and also to track and calculate Technology Business Net Income or Net Losses, as applicable. Notwithstanding the foregoing, the expenses and the borrowings of the Company, and the interest expenses allocated between the Agency Business and Technology Business, shall be allocated as set forth on Schedule 10.4(a), and such allocation shall not be modified except in accordance with the provisions of the Operating Agreement. In addition, the Company shall depreciate its assets over their lives as set forth on Schedule 10.4(a), and such depreciation schedule shall not be modified except in accordance with the provisions of the Operating Agreement. The parties hereto agree that the intent of this Section 10.4(a) is to provide a system of accounting that will permit an accurate calculation of Pre-Tax Earnings of the Agency Business and the Net Income or Net Losses, as applicable, of the Technology Business separate and distinct from the other and any other business or operations in which the Company may hereafter engage as if each of the Agency Business, on the one hand, and the Technology Business on the other hand, constituted the sole business and all the operations of a separate company. In particular, in the event that Company is merged, or the Company shall acquire the stock or assets of another business or enter into any material transaction, or shall otherwise enter into a new business unrelated to the Agency Business or the Technology Business or the operations of Company are consolidated with those of its parent or other Subsidiaries of its parent, all expenses which can be directly attributable to the Agency Business or the Technology Business or such other business or operations will be charged directly to the applicable business, and common or shared expenses shall be allocated by the Board of Managers of Company (or its successor) reasonably and in good faith in a manner so as not to unnecessarily burden the Agency Business or the Technology Business or reduce Pre-Tax Earnings, or reduce Net Income or increase Net Losses o...

System of Accounts. In order to determine the "Rt-1" Factor, the Contractor shall keep a special system of accounts to record, in Dollars, income and expenditure related to the Contract Operations. This system shall consist of two main accounts: the "Rt-1" Factor Income Account, and the "Rt-1" Factor Expenditure Account.

System of Accounts. The warehouse operator agrees to: 1. Have and maintain a system of accounts approved for the purpose by FSA. These records must include: a. Weight of each lot received, b. Number of bags or ▇▇▇▇▇. c. The grade when required, d. Location in the warehouse, e. Date received for storage, f. Date delivered out of storage, g. Receipt number,

System of Accounts. The Manager shall keep books of account and other records reflecting the results of operation of the Casino on an accrual basis, all in accordance with generally accepted accounting principles consistently applied (“GAAP”), and as applied within the gaming casino industry. The books of account and all other records relating to or reflecting the operation of the Casino shall be maintained on the premises of the Casino at all times and shall be available to the Partnership and its representatives at all times, for examination, audit, inspection and transcription (at the Partnership’s expense). Upon termination of this Agreement for any reason, the Partnership shall be permitted to utilize the computer hardware and software located at the Casino for such a period of time as is reasonable necessary to transfer all data records relating to the operation of the Casino, subject to the requirements of any software license under which the Manager utilizes any such software. In such event, the Manager may furnish hard copy printouts of such accounting records or generally used storage media containing such records together with instruction on access thereto. The Manager may retain a copy of any accounting records for the Casino after termination of this Agreement.

System of Accounts. The warehouse operator agrees to: 1. Have and maintain a system of accounts approved for the purpose by FSA.  Maintain a separate set of records for each package of tobacco including the name of the depositor, the package identification number, the weight, type, grade, form, condition , the location, the dates incoming and outgoing, the receipts issued and canceled, and an accounting which must include a detailed record of all money received and disbursed and, if applicable, all insurance policies taken out and canceled on request of each depositor. These records will be maintained accurately and concisely as activity occurs. The warehouse operator must retain these records for a period of six years after December 31 of the year in which they were created, and for such longer period as may be necessary for the purposes of any litigation which the warehouse operator knows to be pending, or as may be required by FSA in particular cases to carry out the purposes of the Act.

System of Accounts. Ea c h w ar e h o u se m an s ha ll ha ve an d m a i n t a i n a s y s t e m of a cco un t s, a p- ▇ ▇ ▇▇▇▇ fo r t h e p ur pose b y t h e S e r vice. Th is s ha ll i n ▇▇ ▇ ▇▇ ▇ ▇ ▇ oc k r eco r d s h ow- i n g fo r e a c h lo t of g ra i n r eceived fo r s t o ra ge i t s n e t ▇▇▇▇ ▇ ▇ ▇ ▇ ▇▇ ▇ ▇▇ ▇ ▇ doc k - a ge, if any , i t s g ra de w h e n i t s g ra de is r eq u i r ed t o be, o r is, a sce r t a i n ed, i t s lo- c a t io n , t h e d a t es r eceived fo r an d deliv- e r ed o u t of s t o ra ge, t h e r eceip t s iss u ed an d c an celed, a lso a sep ara t e r eco r d fo r e a c h deposi t o r of h is g ra i n , w h ic h s ha ll i n cl u de a de t a iled r eco r d of a ll m o n e y s r eceived an d disb ur sed an d of a ll i n s ur- an ce policies t a k e n o u t an d c an celed o n r eq u es t of e a c h deposi t o r . Th e w ar e- h o u se m an s ha ll fur t h e r k eep a ge n e ▇▇ ▇ ▇ ▇ ▇ ▇▇▇▇ ▇▇ a cco un t s h owi n g t h e polic y nu m be r , iss u i n g co m p any , a m o un t , bi n di n g, an d expi ra t io n d a t es of a ll fi r e, t o rna do, an d o t h e r i n s uran ▇▇ ▇▇▇▇- cies t a k e n o u t b y h i m an d i n e a c h i n- s t an ce s h ow t h e p r ope r t y cove r ed b y s u c h policies. Th ese r eco r ds s ha ll a lso s h ow si m il ar i nfo r m a t io n co n ce rn i n g any n o n s t o ra ge g ra i n han dled t hr o u g h t h e w ar e h o u se. Su c h r eco r ds s ha ll be r e t a i n ed b y t h e w ar e h o u se m an fo r a pe- r iod of six y e ar s af t e r Dece m be r 31 of ▇ ▇ ▇ ▇ ▇ ar i n w h ic h c r e a t ed, an d fo r s u c h lo n ge r pe r iod a s m ay be n ecess ary fo r t h e p ur poses of any li t ig a t io n w h ic h t h e w ar e h o u se m an k n ows t o be pe n d- i n g, o r a s m ay be r eq u i r ed b y t h e Ad- m i n is t ra t o r i n p ar t ic u l ar c a ses t o c arry o u t t h e p ur poses of t h e Ac t . ( App r oved b y t h e Office of M ▇▇▇ ge m e n t an d B u dge t un de r co n t r ol nu m be r 0560–0120) [29 F R 15730, Nov. 24, 1964, a s a m e n ded a t 47 F R 745, J an . 7, 1982. R edesig na t ed a t 50 F R 1814, J an . 14, 1985]