Common use of Accounting and Tax Matters Clause in Contracts

Accounting and Tax Matters. Company and Shareholders will not change in any material respect the tax or financial accounting methods or practices followed by Company (including any material change in any assumption underlying, or any method of calculating, any bad debt, contingency or other reserve), except as may be required by law or generally accepted accounting principles. Company and Shareholders will duly, accurately and timely (without regard to any extensions of time) file all returns, information statements and other documents relating to taxes of Company required to be filed by it, and pay all taxes required to be paid by it, on or before the Closing Date.

Accounting and Tax Matters. The Company and Shareholders will not change in any material respect the tax or financial accounting methods or practices followed by the Company (including any material change in any assumption underlying, or any method of calculating, any bad debt, contingency or other reserve), except as may be required by law or generally accepted accounting principles. The Company and Shareholders will duly, accurately and timely (without with regard to any extensions of time) file all returns, information statements and other documents relating to taxes of the Company required to be filed by it, and pay all taxes required to be paid by it, on or before the Closing Date.