Record Keeping and Accounting Sample Clauses

Record Keeping and Accounting. Universal shall maintain and preserve accurate books and records for the Restaurant. No later than the twentieth day following each calendar month during the Term, Universal shall furnish to JFD complete and accurate statement showing the Gross Receipts for the Restaurant during the preceding calendar month ("Monthly Statements"). At any time upon 15 days prior notice, JFD may request that Universal furnish to JFD a detailed statement for the preceding twelve (12) months, certified by an independent certified public accountant chosen by JFD, showing in sufficient detail the elements included in the calculation of Gross Receipts (the "Gross Receipts Statement"), provided, however, if there is no Material Discrepancy (defined below) found in the prior audit, JFD may not exercise the foregoing audit rights more frequently than once annually. The expenses attributable to the preparation and certification of such Gross Receipts Statement shall be borne by JFD, unless the reported total Gross Receipts for any period shown on such Gross Receipts Statement vary, in the aggregate, by five percent (5%) or more from the total Gross Receipts reported to JFD in the Monthly Statements for such period ("Material Discrepancy"). In the event of a Material Discrepancy, all expenses attributable to the preparation and certification of the Gross Receipts Statement shall be borne by Universal. Any underpayment disclosed by either an audit and examination or the Gross Receipts Statement shall be paid (with interest at the Prime Rate plus two hundred basis points) within thirty (30) days of presentment of the audit report or Gross Receipts Statement. Any overpayment disclosed by such an audit shall be credited to subsequent License Fees due to JFD hereunder or, if this Agreement has then expired or been terminated, shall be paid in cash (with interest at the Prime Rate) within thirty (30) days following presentment of audit report.
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Record Keeping and Accounting. The JV will provide a monthly accounting of receipts and disbursements of Net Profits from each SPV. The monthly return from the SPVs is on a commercially reasonable efforts basis, and it is expected that the disbursements of profits will vary month to month according to actual profits made. An annual reconciliation will be made for each project within 60 days of each year end.
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Record Keeping and Accounting 
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Related to Record Keeping and Accounting

  • Records and Accounting The General Partner shall keep or cause to be kept at the principal office of the Partnership appropriate books and records with respect to the Partnership’s business, including all books and records necessary to provide to the Limited Partners any information required to be provided pursuant to Section 3.4(a). Any books and records maintained by or on behalf of the Partnership in the regular course of its business, including the record of the Record Holders and Assignees of Units or other Partnership Securities, books of account and records of Partnership proceedings, may be kept on, or be in the form of, computer disks, hard drives, punch cards, magnetic tape, photographs, micrographics or any other information storage device; provided, that the books and records so maintained are convertible into clearly legible written form within a reasonable period of time. The books of the Partnership shall be maintained, for financial reporting purposes, on an accrual basis in accordance with U.S. GAAP.

  • Books Records Accounting and Reports Section 8.1 Records and Accounting 74 Section 8.2 Fiscal Year 74 Section 8.3 Reports 74 ARTICLE IX

  • Tax and Accounting Treatment Each party to this Agreement acknowledges that it is its intent for purposes of U.S. federal, state and local income and franchise taxes, and for accounting purposes, to treat each Transaction as indebtedness of Seller that is secured by the Purchased Mortgage Loans and that the Purchased Mortgage Loans are owned by Seller in the absence of a Default by Seller. All parties to this Agreement agree to such treatment and agree to take no action inconsistent with this treatment, unless required by applicable Requirements of Law or GAAP.

  • Books Records and Accounting The General Partner shall keep or cause to be kept at the registered office of the Partnership appropriate books and records with respect to the Partnership’s activities and affairs. Any books and records maintained by or on behalf of the Partnership in the regular course of its activities and undertakings, including the record of the Record Holders, books of account and records of Partnership proceedings, may be kept on information storage devices, provided, that the books and records so maintained are convertible into clearly legible written form within a reasonable period of time. The books of the Partnership shall be maintained, for financial reporting purposes, on an accrual basis in accordance with IFRS-IASB. In accordance with Bermuda Law, the records of account and registers will be kept available for inspection by any Limited Partner or its duly authorized representatives during regular business hours at the registered office of the Partnership. Limited Partners shall not have access to any information of the Partnership contained in its books and records which the General Partner is required by legal or contractual restriction to keep confidential or which, in the opinion of the General Partner, acting reasonably, should be kept confidential in the interests of the Partnership or may be kept confidential as provided in this Agreement, and each Limited Partner hereby waives any right to greater access to the books and records of the Partnership than is permitted herein, to the greatest extent permitted by Law.

  • Accounting and Records The books and records of the Company shall be made and maintained, and the financial position and the results of its operations recorded, at the expense of the Company, in accordance with such method of accounting as is determined by the Managing Member. The books and records of the Company shall reflect all Company transactions and shall be made and maintained in a manner that is appropriate and adequate for the Company’s business.

  • Reports and Accounting 8.1. The Company shall give Yissum written notice of any (i) Sublicense Consideration received; (ii) First Commercial Sale made; or (iii) Milestone achieved; within 30 days of the particular event.

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