Accounting Methods; Income Tax Elections. Except as disclosed in MCI SEC Reports filed prior to the date of this Agreement, or as required by a Governmental Entity, MCI shall not change its methods of accounting in effect at December 31, 1996, except as required by changes in U.S. GAAP as concurred in by MCI's independent auditors. MCI shall not (i) change its fiscal year or (ii) make any material Tax election, other than in the ordinary course of business consistent with past practice, without consultation with WorldCom.
Appears in 3 contracts
Samples: Merger Agreement (Mci Communications Corp), Merger Agreement (Worldcom Inc /Ga/), Merger Agreement (Mci Communications Corp)
Accounting Methods; Income Tax Elections. Except as disclosed in MCI SEC Reports filed prior to the date of this Agreement, or as required by a Governmental Entity, MCI shall not change its methods of accounting in effect at December 31, 19961995, except as required by changes in U.S. US GAAP as concurred in by MCI's independent auditors. MCI shall not (i) change its fiscal year or (ii) make any material Tax election, other than in the ordinary course of business consistent with past practice, without consultation with WorldComBT.
Appears in 2 contracts
Samples: Merger Agreement (Mci Communications Corp), Merger Agreement (British Telecommunications PLC)
