Common use of REPORTS AND VALUATIONS Clause in Contracts

REPORTS AND VALUATIONS. 10.1 As soon as practicable and no later than 120 days following the end of each Accounting Period, the General Partner shall prepare (or procure the preparation of) and send to each Partner the audited accounts of the Partnership. 10.2 Subject to Clause 11.3, within 60 days of the end of each quarter, the Manager shall prepare (or procure the preparation of) and send to each Partner unaudited financial statements of the Partnership Assets as at the end of such period and a narrative report comprising a statement of the Investments and other property and assets of the Partnership, confirmation of the drawdowns made from Investors, details of the Investments purchased including a brief summary of any Investee Company and of investments sold and otherwise disposed of during the relevant period and, for the avoidance of doubt, the Partnership hereby confirms that such statements will not constitute periodic statements for the purposes of the FSA Rules. 10.3 All client reports and valuations sent to Investors pursuant to the provisions of this Agreement shall be prepared in accordance with the Valuation Procedures.