Common use of Accrual Basis Clause in Contracts

Accrual Basis. Such books and records of account shall be maintained on an accrual basis in accordance with generally accepted accounting principles or tax accounting principles, as appropriate, and shall be adequate to provide each Partner with all financial and tax information as may be needed by each Partner or and Affiliate of each Partner for purposes of satisfying the financial and tax reporting obligation of each Partner or its Affiliates.

Accrual Basis. Such books and records of account shall be maintained on an accrual basis in accordance with generally accepted accounting principles (unless another method is approved by the Members) or tax accounting principles, as appropriate, and shall be adequate to provide each Partner Member with all financial and tax information as may be needed by each Partner Member or and any Affiliate of each Partner Member for purposes of satisfying the financial and tax reporting obligation obligations of each Partner Member or its Affiliates.

Accrual Basis. Such books and records of account shall be maintained on an accrual basis in accordance with generally accepted accounting principles or tax accounting principles, as appropriate, and shall be adequate to provide each Partner with all financial and tax information as may be needed by each Partner or and any Affiliate of each Partner for purposes of satisfying the financial and tax reporting obligation obligations of each Partner or its Affiliates.