Common use of Books of Accounts Clause in Contracts

Books of Accounts. Manager shall maintain adequate and separate books and records for the Project with the entries supported by sufficient documentation to ascertain their accuracy with respect to the Project. RREM agrees to provide to Manager any financial or other information reasonably requested by Manager to carry out its services hereunder. Manager shall maintain such books and records at the Manager’s office, at the Project or at a designated office readily accessible to the RREM and/or Owner. Manager shall ensure such control over accounting and financial transactions as is commercially reasonably necessary to protect the Owner’s assets from theft, error or fraudulent activity by Manager’s employees. Manager shall bear losses arising from such instances, including, without limitation, the following: (a) theft of assets by Manager’s employees, principals or officers or those individuals associated or affiliated with Manager; (b) overpayment or duplicate payment of invoices arising from either gross negligence or willful misconduct, unless credit is subsequently received; (c) overpayment of labor costs arising from either the gross negligence or willful misconduct of Manager, unless credit is subsequently received by the Owner; (d) overpayment resulting from payment from suppliers to Manager’s employees or associates arising from the purchase of goods or services for the Project; and (e) unauthorized use of facilities by Manager or Manager’s employees or associates.

Books of Accounts. Manager shall maintain adequate and separate books and records for the Project Projects and Debt Investments with the entries supported by sufficient documentation to ascertain their accuracy with respect to the ProjectProjects and Debt Investments. RREM Owner agrees to provide to Manager any financial or other information reasonably requested by Manager to carry out its services hereunder. Manager shall maintain such books and records at the Manager’s office, at the Project Projects or at a designated office readily accessible to the RREM Company, the OP and/or Owner. Manager shall ensure such control over accounting and financial transactions as is commercially reasonably necessary to protect the Owner’s assets from theft, error or fraudulent activity by Manager’s employees. Manager shall bear losses arising from such instances, including, without limitation, the following: (a) theft of assets by Manager’s employees, principals or officers or those individuals associated or affiliated with Manager; (b) overpayment or duplicate payment of invoices arising from either gross negligence or willful misconduct, unless credit is subsequently received; (c) overpayment of labor costs arising from either the gross negligence or willful misconduct of Manager, unless credit is subsequently received by the Owner; (d) overpayment resulting from payment from suppliers to Manager’s employees or associates arising from the purchase of goods or services for the ProjectProjects; and (e) unauthorized use of facilities by Manager or Manager’s employees or associates.

Books of Accounts. The Property Manager shall maintain adequate and separate books and records for the Project with the entries supported by sufficient documentation to ascertain their accuracy with respect to the Project. RREM agrees Such books and records shall contain a separate allocation of income and expenses to each Tenant in Common. The Tenants in Common agree to provide to the Property Manager any financial or other information reasonably requested by the Property Manager to carry out its services hereunder. The Property Manager shall maintain such books and records at the Property Manager’s office, 's office at the Property Manager's address as set forth in Section 12 or at the subcontractor to the Property Manager or at the Project or at a designated office readily accessible to in the RREM and/or Ownerregion of the Project. The Property Manager shall ensure such control over accounting and financial transactions as is commercially reasonably necessary to protect the Owner’s Tenants in Common's assets from theft, error or fraudulent activity by the Property Manager’s 's employees. The Property Manager shall bear losses arising from such instances, including, without limitation, the following: (a) theft of assets by the Property Manager’s 's employees, principals principals, or officers or those individuals associated or affiliated with the Property Manager; (b) overpayment or duplicate payment of invoices arising from either fraud or gross negligence or willful misconductnegligence, unless credit is subsequently received; (c) overpayment of labor costs arising from either the fraud or gross negligence or willful misconduct of Managernegligence, unless credit is subsequently received by the OwnerTenants in Common; (d) overpayment resulting from payment from suppliers to the Property Manager’s 's employees or associates arising from the purchase of goods or services for the Project; and (e) unauthorized use of facilities by the Property Manager or the Property Manager’s 's employees or associates.