Accounting Methods; Income Tax Elections. The Company shall not, and shall not permit any of its Subsidiaries to, (i) change its methods of accounting or accounting practice as in effect at December 31, 1998, except for any such change as required by reason of a change in GAAP, (ii) make or rescind any material Tax election, or (iii) make any material change to its method of reporting income, deductions or other Tax items for Tax purposes; provided that, in the case of matters described in clauses (ii) and (iii) above, DuPont shall not unreasonably withhold its consent.
Appears in 2 contracts
Samples: Merger Agreement (Pioneer Hi Bred International Inc), Merger Agreement (Dupont E I De Nemours & Co)
Accounting Methods; Income Tax Elections. The Company shall not, and shall not permit any of its Subsidiaries to, (i) change its methods of accounting or accounting practice or principles as in effect at December 31, 1998, except for any such change as required by reason of a change in GAAP, (ii) make or rescind any material Tax election, or (iii) make any material change to its method of reporting income, deductions or other Tax items for Tax purposes; provided that, in the case of matters described in clauses (ii) and (iii) above, DuPont Buyer shall not unreasonably withhold its consent.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Precision Response Corp), Merger Agreement (Usa Networks Inc)
