Common use of Cost Accounting Clause in Contracts

Cost Accounting. The Manager shall keep books and records on the costs and expenses incurred pursuant to paragraph 2 hereof in accordance with generally accepted accounting principles and practices. During the term hereof the Manager shall provide copies of any receipts, invoices, extracts from books or records or other documents, in the Manager's possession, reasonably required by the Joint Venturers to substantiate any costs or expenses pursuant to paragraph 2 hereof.