3.20 Corporate and Accounting Records Sample Clauses


3.20 Corporate and Accounting Records. Since the Baseline Date, the minute books of MPP and the Entities contain true, complete and accurate records of all meetings and accurately reflect all other corporate action of their respective members (including committees thereof). Since the Baseline Date and, to Seller’s Knowledge, prior to that date, each of MPP and the Entities maintains adequate records which accurately and validly reflect transactions conducted by each of them in reasonable detail, and maintains accounting controls, policies and procedures sufficient to ensure that such transactions are (a) executed in accordance with its management’s general or specific authorization and (b) recorded in a manner which permits the preparation of financial statements in accordance with applicable Law and applicable regulatory accounting requirements.