Common use of RECORDS AND FINANCIAL STATEMENTS Clause in Contracts

RECORDS AND FINANCIAL STATEMENTS. The Advisor, in the conduct of its responsibilities to the Company and the Partnership, shall maintain adequate and separate books and records for the Company’s and the Partnership’s operations in accordance with GAAP, which shall be supported by sufficient documentation to ascertain that such books and records are properly and accurately recorded. Such books and records shall be the property of the Company and the Partnership and shall be available for inspection by the Board and by counsel, auditors and other authorized agents of the Company and the Partnership, at any time or from time to time during normal business hours. Such books and records shall include all information necessary to calculate and audit the fees or reimbursements paid under this Agreement. The Advisor shall utilize procedures to attempt to ensure such control over accounting and financial transactions as is reasonably required to protect the Company’s and the Partnership’s assets from theft, error or fraudulent activity. All financial statements that the Advisor delivers to the Company and the Partnership shall be prepared on an accrual basis in accordance with GAAP, except for special financial reports that by their nature require a deviation from GAAP. The Advisor shall liaise with the Company’s officers and independent auditors and shall provide such officers and auditors with the reports and other information that the Company so requests.

RECORDS AND FINANCIAL STATEMENTS. The Advisor, in the conduct of its responsibilities to the Company and the PartnershipCompany, shall maintain adequate and separate books and records for the Company’s and the Partnership’s its Subsidiaries’ operations in accordance with GAAP, which shall be supported by sufficient documentation to ascertain that such books and records are properly and accurately recorded. Such books and records shall be the property of the Company and the Partnership its Subsidiaries and shall be available for inspection by the Board and by counsel, auditors and other authorized agents of the Company and the PartnershipCompany, at any time or from time to time during normal business hours. Such books and records shall include all information necessary to calculate and audit the fees or reimbursements paid under this Agreement. The Advisor shall utilize procedures to attempt to ensure such control over accounting and financial transactions as is reasonably required to protect the Company’s and the Partnership’s its Subsidiaries’ assets from theft, error or fraudulent activity. All financial statements that the Advisor delivers to the Company and the Partnership shall be prepared on an accrual basis in accordance with GAAP, except for special financial reports that by their nature require a deviation from GAAP. The Advisor shall liaise with the Company’s officers and independent auditors and shall provide such officers and auditors with the reports and other information that the Company so requests.. EAST\50676375.5