Accounting Policy. The Borrower will promptly notify the Administrative Agent and each Lender of any material change in the Borrower’s accounting policies that are not otherwise required by GAAP.
Accounting Policy. The initial Servicer will promptly notify the Administrative Agent, each Agent and each Lender of any material change in the Servicer’s accounting policies.
Accounting Policy. The initial Servicer will notify the Administrative Agent within five Business Days of its implementation of any material change in the its accounting policies.
Accounting Policy. It will promptly notify the Trust and the Administrative Agent of any material change in its accounting policies.
Accounting Policy. The Parent agrees that it will not adopt any accounting policy or change the consistency of application of its accounting principles from GAAP (a) unless the revised policy and practice adopted from time to time is generally accepted in The Netherlands and/or in accordance with International Accounting Standards and (b) provided that prior to any revised policy and practice being adopted the Parent will notify the Agent thereof and, if required by the Agent, will either (i) negotiate in good faith with the Agent in order that the provisions of Clause 24 (Financial Condition) may be amended as may be necessary to grant to the Lenders protection comparable to that granted on the Effective Date or (ii) provide either financial statements on the same basis as before or provide financial statements containing a statement reconciling the previous and the then current accounting policy in order that the Agent may determine the financial condition of the Group having regard to the terms of this Agreement.
Accounting Policy. (a) If any changes to IFRS materially alter the effect of the undertakings in this Clause 23.15 or the related definitions, the Borrower and the Agent (acting on the instructions of the Majority Lenders) will negotiate in good faith to amend the relevant undertakings and definitions so that they have an effect comparable to that at the date of this Agreement.
(b) If the amendments are not agreed within 30 days (or any longer period agreed between the Borrower and the Agent (acting on the instructions of the Majority Lenders)) then the Borrower will provide with its financial statements any reconciliation statements (audited, where applicable) necessary to enable calculations based on IFRS as they were before those changes, and the changes will be ignored for the purposes of this Clause 23.15.
Accounting Policy. The Servicer will promptly notify the Administrative Agent of any change in the Servicer’s accounting policies.
Accounting Policy. It will promptly notify the Purchasers of any material change in its accounting policies.
Accounting Policy. The integration and merging of Entities resulted in the financial accounting systems EHLQJ UXQ RQ PRUH WKDQ RQH SDFNDJH UHVXOWLQJ LQ IU financial records and representation. It is affecting the adherence, management and compliance to business processes. It will be improved with the adoption of systems for the merged Entity as the integration is implemented.
Accounting Policy. (a) If in the reasonable opinion of the Borrower or the Lenders (in their absolute discretion) any changes to GAAP materially alter the effect of the undertakings in Clause 19.1 (Financial undertakings) or the related definitions, the Borrower and the Lenders will negotiate in good faith to amend the relevant undertakings and definitions so that they have an effect comparable to that at the date of this Agreement.
(b) If the amendments are not agreed within 30 days (or any longer period agreed between the Borrower and the Lenders (in their absolute discretion)) then the Borrower will provide with its Financial Statements any reconciliation statements (audited, where applicable) necessary to enable calculations based on GAAP as they were before those changes, and the changes will be ignored for the purposes of this Clause 19.2 (Accounting policy).
