Common use of Accounting Reports Clause in Contracts

Accounting Reports. As soon as reasonably practicable after the end of each Fiscal Year but in no event later than 120 days after the end thereof, each Member shall be furnished an annual accounting showing the financial condition of the Company at the end of such Fiscal Year and the result of its operations for the Fiscal Year then ended, which annual accounting shall be prepared on an accrual basis in accordance with generally accepted accounting principles applied on a consistent basis and shall be delivered to each of the Members promptly after it has been prepared. It shall include a balance sheet as of the end of such Fiscal Year and statements of income and expense, each Member's equity, and cash flow for such Fiscal Year. At AHH Management' election the Company shall either be audited or such annual accountings shall be either reviewed or compiled by a firm of independent certified public accountants engaged by AHH Management on behalf of the Company. The report shall set forth the distributions to the Members for such Fiscal Year and shall separately identify distributions from (i) operating revenue during such Fiscal Year, (ii) operating revenue from a prior period which had been held as reserves, (iii) proceeds from the sale or refinancing of the Equipment, and (iv) unexpended proceeds received from the sale of Membership Interests. AHH Management shall also cause to be prepared and distributed to the Members monthly financial statements in a form and containing such information as reasonably determined by AHH Management.

Accounting Reports. As soon as reasonably practicable after the end of each Fiscal Year fiscal year but in no event later than 120 days after the end thereof, each Member shall be furnished an annual accounting showing the financial condition of the Company at the end of such Fiscal Year fiscal year and the result of its operations for the Fiscal Year fiscal year then ended, which annual accounting shall be prepared on an accrual basis in accordance with generally accepted accounting principles applied on a consistent basis and shall be delivered to each of the Members promptly after it has been prepared. It shall include a balance sheet as of the end of such Fiscal Year and statements of income and expense, each Member's equity, and cash flow for such Fiscal Year. At AHH Management' HHBF's election the Company shall either be audited or such annual accountings shall be either reviewed or compiled by a firm of independent certified public accountants engaged by AHH Management HHBF on behalf of the Company. The report shall set forth the distributions to the Members for such Fiscal Year and shall separately identify distributions from (i) operating revenue during such Fiscal Year, (ii) operating revenue from a prior period which had been held as reserves, (iii) proceeds from the sale or refinancing of the Equipment, and (iv) unexpended proceeds received from the sale of Membership Interests. AHH Management Following the opening of the Hospital, HHBF shall also cause to be prepared and distributed to the Members monthly quarterly financial statements following HHBF's public announcement of its results for such quarter in a form and containing such information as reasonably determined by AHH ManagementHHBF.

Accounting Reports. As soon as reasonably practicable after the end of each Fiscal Year fiscal year but in no event later than 120 days after the end thereof, each Member shall be furnished an annual accounting showing the financial condition of the Company at the end of such Fiscal Year fiscal year and the result results of its operations for the Fiscal Year fiscal year then ended, which annual accounting shall be prepared on an accrual basis in accordance with generally accepted accounting principles applied on a consistent basis and shall be delivered to each of the Members promptly after it has been prepared. It shall include a balance sheet as of the end of such Fiscal Year fiscal year and statements of income and expense, each Member's equity, and cash flow for such Fiscal Yearfiscal year. At AHH Management' SAHI's or the Board's election the Company shall either be audited or such annual accountings shall be either reviewed or compiled by a firm of independent certified public accountants engaged by AHH Management SAHI or the Board on behalf of the CompanyCompany (which accountants shall be the accountants then regularly retained by MedCath). The report shall set forth the distributions to the Members for such Fiscal Year fiscal year and shall separately identify distributions from (i) operating revenue during such Fiscal Yearfiscal year, (ii) operating revenue from a prior period which had been held as reserves, (iii) proceeds from the sale or refinancing of the Equipment, and (iv) unexpended proceeds received from the sale of Membership Interests. AHH Management SAHI or the Board shall also cause to be prepared and distributed to the Members monthly quarterly financial statements in a form and containing such information as reasonably determined by AHH Management.SAHI or the Board, which statements shall be

Accounting Reports. As soon as reasonably practicable after the end of each Fiscal Year fiscal year but in no event later than 120 days after the end thereof, each Member Partner shall be furnished an annual accounting showing the financial condition of the Company Partnership at the end of such Fiscal Year fiscal year and the result of its operations for the Fiscal Year fiscal year then ended, which annual accounting shall be prepared on an accrual basis in accordance with generally accepted accounting principles applied on a consistent basis and shall be delivered to each of the Members Partners promptly after it has been prepared. It shall include a balance sheet as of the end of such Fiscal Year and statements of income and expense, each MemberPartner's equity, and cash flow for such Fiscal Year. At AHH Management' the General Partner's election the Company Partnership shall either be audited or such annual accountings shall be either reviewed or compiled by a firm of independent certified public accountants engaged by AHH Management the General Partner on behalf of the CompanyPartnership. The report shall set forth the distributions to the Members Partners for such Fiscal Year and shall separately identify distributions from (i) operating revenue during such Fiscal Year, (ii) operating revenue from a prior period which had been held as reserves, (iii) proceeds from the sale or refinancing of the Equipment, and (iv) unexpended proceeds received from the sale of Membership Partnership Interests. AHH Management Following the opening of the Hospital, the General Partner shall also cause to be prepared and distributed to the Members monthly Partners quarterly financial statements following the General Partner's public announcement of its results for such quarter in a form and containing such information as reasonably determined by AHH Managementthe General Partner.

Accounting Reports. As soon as reasonably practicable after the end of each Fiscal Year fiscal year but in no event later than 120 days after the end thereof, each Member shall be furnished an annual accounting showing the financial condition of the Company at the end of such Fiscal Year fiscal year and the result of its operations for the Fiscal Year fiscal year then ended, which annual accounting shall be prepared on an accrual basis in accordance with generally accepted accounting principles applied on a consistent basis and shall be delivered to each of the Members promptly after it has been prepared. It shall include a balance sheet as of the end of such Fiscal Year and statements of income and expense, each Member's equity, and cash flow for such Fiscal Year. At AHH Management' the election of either the Board of Directors or the Manager the Company shall either be audited or such annual accountings shall be either reviewed or compiled by a firm of independent certified public accountants engaged by AHH Management the Manager on behalf of the CompanyCompany which shall also be the accounting firm of the Manager. The report shall set forth the distributions to the Members for such Fiscal Year and shall separately identify distributions from (i) operating revenue during such Fiscal Year, (ii) operating revenue from a prior period which had been held as reserves, (iii) proceeds from the sale or refinancing of the Equipment, and (iv) unexpended proceeds received from the sale of Membership Interests. AHH Management Following the opening of the Hospital, the Manager shall also cause to be prepared and distributed to the Members monthly quarterly financial statements in a form and containing such information as reasonably determined by AHH Managementstatements.

Accounting Reports. As soon as reasonably practicable after the end of each Fiscal Year fiscal year but in no event later than 120 days after the end thereof, each Member shall be furnished an annual accounting showing the financial condition of the Company at the end of such Fiscal Year fiscal year and the result of its operations for the Fiscal Year fiscal year then ended, which annual accounting shall be prepared on an accrual basis in accordance with generally accepted accounting principles applied on a consistent basis and shall be delivered to each of the Members promptly after it has been prepared. It shall include a balance sheet as of the end of such Fiscal Year and statements of income and expense, each Member's equity, and cash flow for such Fiscal Year. At AHH Management' election the The Company shall either be audited or such annual accountings shall be either reviewed or compiled by a firm of independent certified public accountants regularly engaged by AHH Management the Board of Directors on behalf of the Company. (For so long as NMHM is a Member of the Company, the Company shall endeavor to use the same firm of accountants as used by MedCath.) The report shall set forth the distributions to the Members for such Fiscal Year and shall separately identify distributions from (i) operating revenue during such Fiscal Year, (ii) operating revenue from a prior period which had been held as reserves, (iii) proceeds from the sale or refinancing of the Equipment, and (iv) unexpended proceeds received from the sale of Membership Interests. AHH Management Following the opening of the Hospital, Board of Directors shall also cause to be prepared and distributed to the Members monthly quarterly financial statements in a form and containing such information as reasonably determined by AHH Managementstatements.

Accounting Reports. As soon as reasonably practicable after the end of each Fiscal Year fiscal year but in no event later than 120 days after the end thereof, each Member Partner shall be furnished an annual accounting showing the financial condition of the Company Partnership at the end of such Fiscal Year fiscal year and the result of its operations for the Fiscal Year fiscal year then ended, which annual accounting shall be prepared on an accrual basis in accordance with generally accepted accounting principles applied on a consistent basis and shall be delivered to each of the Members Partners promptly after it has been prepared. It shall include a balance sheet as of the end of such Fiscal Year and statements of income and expense, each MemberPartner's equity, and cash flow for such Fiscal Year. At AHH Management' the General Partner's election the Company Partnership shall either be audited or such annual accountings shall be either reviewed or compiled by a firm of independent certified public accountants engaged by AHH Management the General Partner on behalf of the CompanyPartnership. The report shall set forth the distributions to the Members Partners for such Fiscal Year and shall separately identify distributions from (i) operating revenue during such Fiscal Year, (ii) operating revenue from a prior period which had been held as reserves, (iii) proceeds from the sale or refinancing of the Equipment, and (iv) unexpended proceeds received from the sale of Membership Partnership Interests. AHH Management Following the opening of the Hospital, the General Partner shall also cause to be prepared and distributed to the Members monthly Partners financial statements in on a form quarterly basis or at such other intervals as the General Partner and containing such information as reasonably determined by AHH Managementthe Investor General Partner may mutually agree.

Accounting Reports. As soon as reasonably practicable after the end of each Fiscal Year fiscal year but in no event later than 120 days after the end thereof, each Member shall be furnished an annual accounting showing the financial condition of the Company at the end of such Fiscal Year fiscal year and the result of its operations for the Fiscal Year fiscal year then ended, which annual accounting shall be prepared on an accrual basis in accordance with generally accepted accounting principles applied on a consistent basis and shall be delivered to each of the Members promptly after it has been prepared. It shall include a balance sheet as of the end of such Fiscal Year and statements of income and expense, each Member's equity, and cash flow for such Fiscal Year. At AHH Management' the Manager's election the Company shall either be audited or such annual accountings shall be either reviewed or compiled by a firm of independent certified public accountants engaged by AHH Management the Manager on behalf of the CompanyCompany which shall also be the accounting firm of the Manager. The audit may be a simple audit provided that the audit report shall set forth the distributions to the Members for such Fiscal Year and shall separately identify distributions from (i) operating revenue during such Fiscal Year, (ii) operating revenue from a prior period which had been held as reserves, (iii) proceeds from the sale or refinancing of the Equipment, and (iv) unexpended proceeds received from the sale of Membership Interests. AHH Management Any Member, at such Member's sole cost and expense, may obtain an audit of the Company by an independent certified public accountant at any time upon notice to MHMI. Following the Opening Date, the Manager shall also cause to be prepared and distributed to the Members monthly quarterly financial statements in a form and containing such information as reasonably determined by AHH Managementstatements.

Accounting Reports. As soon as reasonably practicable after the end of each Fiscal Year fiscal year but in no event later than 120 days after the end thereof, each Member shall be furnished an annual accounting showing the financial condition of the Company at the end of such Fiscal Year fiscal year and the result of its operations for the Fiscal Year fiscal year then ended, which annual accounting shall be prepared on an accrual basis in accordance with generally accepted accounting principles applied on a consistent basis and shall be delivered to each of the Members promptly after it has been prepared. It shall include a balance sheet as of the end of such Fiscal Year and statements of income and expense, each Member's equity, and cash flow for such Fiscal Year. At AHH Management' election the The Company shall either be audited or such annual accountings shall be either reviewed or compiled annually by a firm of independent certified public accountants engaged by AHH Management the Manager on behalf of the CompanyCompany which shall also be the accounting firm of the Manager. The audit may be a simple audit provided that the audit report shall set forth the distributions to the Members for such Fiscal Year and shall separately identify distributions from (i) operating revenue during such Fiscal Year, (ii) operating revenue from a prior period which had been held as reserves, (iii) proceeds from the sale or refinancing of the Equipment, and (iv) unexpended proceeds received from the sale of Membership Interests. AHH Management Any Member, at such Member's sole cost and expense, may obtain an audit of the Company by an independent certified public accountant at any time upon notice to LHMI. Following the opening of the Hospital, the Manager shall also cause to be prepared and distributed to the Members monthly quarterly financial statements in a form and containing such information as reasonably determined by AHH Managementstatements.

Accounting Reports. As soon as reasonably practicable after the end of each Fiscal Year fiscal year but in no event later than 120 days after the end thereof, each Member Partner shall be furnished an annual accounting showing the financial condition of the Company Partnership at the end of such Fiscal Year fiscal year and the result of its operations for the Fiscal Year fiscal year then ended, which annual accounting shall be prepared on an accrual basis in accordance with generally accepted accounting principles applied on a consistent basis and shall be delivered to each of the Members Partners promptly after it has been prepared. It shall include a balance sheet as of the end of such Fiscal Year and statements of income and expense, each Member's Partner’s equity, and cash flow for such Fiscal Year. At AHH Management' the General Partner’s election the Company Partnership shall either be audited or such annual accountings shall be either reviewed or compiled by a firm of independent certified public accountants engaged by AHH Management the General Partner on behalf of the CompanyPartnership. The report shall set forth the distributions to the Members Partners for such Fiscal Year and shall separately identify distributions from (i) operating revenue during such Fiscal Year, (ii) operating revenue from a prior period which had been held as reserves, (iii) proceeds from the sale or refinancing of the Equipment, and (iv) unexpended proceeds received from the sale of Membership Partnership Interests. AHH Management Following the opening of the Hospital, the General Partner shall also cause to be prepared and distributed to the Members monthly Partners quarterly financial statements following the General Partner’s public announcement of its results for such quarter in a form and containing such information as reasonably determined by AHH Managementthe General Partner.

Accounting Reports. As soon as reasonably practicable after the end of each Fiscal Year fiscal year but in no event later than 120 days after the end thereof, each Member Partner shall be furnished an annual accounting showing the financial condition of the Company Partnership at the end of such Fiscal Year fiscal year and the result of its operations for the Fiscal Year fiscal year then ended, which annual accounting shall be prepared on an accrual basis in accordance with generally accepted accounting principles applied on a consistent basis and shall be delivered to each of the Members Partners promptly after it has been prepared. It shall include a balance sheet as of the end of such Fiscal Year fiscal year and statements of income and expense, each MemberPartner's equity, and cash flow for such Fiscal Yearfiscal year. It shall also include supplementary statements prepared pursuant to the Capital Account accounting methods prescribed by this Agreement and Regulations Section 1.704-1(b) and such other information and reports as requested by the Mangers. At AHH Management' HM's election the Company Partnership shall either be audited or such annual accountings shall be either reviewed or compiled by a firm of independent certified public accountants engaged by AHH Management HM on behalf of the CompanyPartnership. The report shall set forth the distributions to the Members Partners for such Fiscal Year fiscal year and shall separately identify distributions from (i) operating revenue during such Fiscal Yearfiscal year, (ii) operating revenue from a prior period which had been held as reserves, (iii) proceeds from the sale or refinancing of the Equipment, and (iv) unexpended proceeds received from the sale of Membership Partnership Interests. AHH Management Once the Hospital has opened, HM shall also cause to be prepared and distributed to the Members monthly Partners quarterly (at such times as MedCath prepares and publicly announces its results for such quarter) financial statements in a form and containing such information as reasonably determined by AHH ManagementHM and the Investor Representatives.