Common use of Accounting Methods; Income Tax Elections Clause in Contracts

Accounting Methods; Income Tax Elections. Except as disclosed in PNU SEC Reports filed prior to the date of this Agreement, or as required by a Governmental Entity, PNU shall not change its methods of accounting in effect at December 31, 1998, except as required by changes in GAAP as concurred in by PNU's independent auditors. PNU 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.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Pharmacia Corp /De/), Agreement and Plan of Merger (Pharmacia & Upjohn Inc), Agreement and Plan of Merger (Pharmacia & Upjohn Inc)

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Accounting Methods; Income Tax Elections. Except as disclosed in PNU SEC Reports filed prior to the date of this Agreement, or as required by a Governmental Entity, PNU shall not change its methods of accounting in effect at December 31, 1998, except as required by changes in GAAP as concurred in by PNU's independent auditors. PNU 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.'s

Appears in 1 contract

Samples: Agreement and Plan of Merger (Monsanto Co)

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