Common use of AUDIT AND ACCOUNTING RECORDS Clause in Contracts

AUDIT AND ACCOUNTING RECORDS. 6.1. The Operator shall, in an independent and identified way, keep accounting records regarding the Consortium activities, which shall follow the accounting principles usually accepted by the international oil industry practices, according to specific documents entered into by and between the Parties. The accounting principles shall not conflict with the Brazilian laws and regulations, Except for legal or contractual provisions to the contrary, the Consortium’s financial statements shall be prepared every calendar year.

AUDIT AND ACCOUNTING RECORDS. 6.1. The Operator shallshall maintain, in an independent autonomous and identified waymanner, keep accounting records regarding related to the Consortium activitiesactivities of the Consortium, which shall follow the accounting principles usually commonly accepted by the practices of the international oil industry practicesindustry, according to specific documents entered into by and signed between the Parties. The accounting Accounting principles shall not conflict with the Brazilian laws and regulations, legislation. Except for as otherwise provided by a legal or contractual provisions to the contraryprovision, the Consortium’s 's financial statements shall be prepared every for each calendar year.

AUDIT AND ACCOUNTING RECORDS. 6.1. The Operator shallshall maintain, in an independent autonomous and identified waymanner, keep accounting records regarding relating to the Consortium activitiesactivities of the Consortium, which shall will follow the accounting principles usually commonly accepted by the practices of the international oil industry practicespetroleum industry, according to as per the specific documents entered into by and signed between the Parties. The accounting principles shall should not conflict with the Brazilian laws and regulations, Except for legislation. Unless legal or contractual provisions to the contraryprovision provide otherwise, the Consortium’s financial statements of the Consortium shall be prepared every drawn up for each calendar year.