Accounting Conventions Clause Samples
Accounting Conventions. All references in the Agreement to financial terms shall be deemed to refer to such terms as they are defined under GAAP, unless specifically identified otherwise.
Accounting Conventions. Each accounting term used herein, including within the defined terms herein, shall have the meaning that is applied thereto in accordance with GAAP, consistently applied.
Accounting Conventions. Each accounting term used herein shall have the meaning that is applied thereto in accordance with GAAP and each account included in the Closing Date Balance Sheet shall be calculated in accordance with GAAP and shall be consistent with the books and records of the Company; provided, that all known arithmetic errors shall be taken into account in the calculation of each account set forth above, regardless of their materiality. With respect to the calculation of the levels of the accounts set forth above, no change in accounting principles shall be made from those utilized in preparing the Financial Statements, including, with respect to the nature or classification of accounts, closing proceedings, CONFORMED COPY levels of reserves or levels of accruals other than as a result of objective changes in the underlying business. For purposes of the preceding sentence, "changes in accounting principles" includes all changes in accounting principles, policies, practices, procedures or methodologies with respect to financial statements, their classification or their display, as well as all changes in practices, methods, conventions or assumptions utilized in making accounting estimates.
Accounting Conventions. Each accounting term used herein shall have the meaning that is applied thereto in accordance with GAAP and each account included in the Closing Date Balance Sheet and the Earn-Out Statement shall be calculated in accordance with GAAP and shall be consistent with the books and records of the Company; provided, that all known arithmetic errors shall be taken into account in the calculation of each account set forth above, regardless of their materiality. With respect to the calculation of the levels of the accounts set forth above, except as specified in Exhibit B with respect to the Closing Date Balance Sheet or Exhibit C with respect to the Earn-Out Statement, no change in accounting principles shall be made from those utilized in preparing the Financial Statements, including, with respect to the nature or classification of accounts, closing proceedings, levels of reserves or levels of accruals other than as a result of objective changes in the underlying business. For purposes of the preceding sentence, "changes in accounting principles" includes all changes in accounting principles, policies, practices, procedures or methodologies with respect to financial statements, their classification or their display, as well as all changes in practices, methods, conventions or assumptions utilized in making accounting estimates.
Accounting Conventions. The Company shall keep its accounting records and shall report its income for income tax purposes on a calendar year basis using such method of accounting as the Board of Managers shall determine.
Accounting Conventions. To determine possible varying interests of Partners during a taxable year, the Partnership shall use the interim closing of the books method, and all profit, gain or loss (including each item of income or expense) shall be allocated as realized or accrued by the Partnership.
Accounting Conventions. Each accounting term used herein, including within the defined terms herein, shall have the meaning that is applied thereto in accordance with GAAP, consistently applied, and shall be consistent in all material respects with the books and records of the Company and its Subsidiaries.
Accounting Conventions. Identified below are the major criteria used to determine the profit for the Mortgage Lion division of CapitalSouth Bank (the “Mortgage Division”) for purposes of the Incentive Compensation Agreement between J▇▇▇▇ ▇. ▇▇▇▇▇ and CapitalSouth Bank (the “Agreement”).
Accounting Conventions. The Partnership shall keep its accounting records and shall report its income for income tax purposes on a calendar year basis using such method of accounting as the Managing General Partner shall determine.