Accounting Principles; Changes in GAAP. Except as otherwise provided in this Agreement, all computations and determinations as to accounting or financial matters and all financial statements to be delivered pursuant to this Agreement must be made and prepared in accordance with GAAP (including principles of consolidation where appropriate), and all accounting or financial terms mean as defined by GAAP; provided, however, that all accounting terms and related definitions used in Section 4.28, Exhibit 7.2 and in the Payment Guaranty have the meanings given to such terms and definitions under GAAP as in effect on the Effective Date applied on a basis consistent with those used in preparing Statements referred to in Section 8.8.
Appears in 2 contracts
Samples: Construction Loan Agreement, Construction Loan Agreement (CNL Growth Properties, Inc.)
Accounting Principles; Changes in GAAP. Except as otherwise provided in this Agreement, all computations and determinations as to accounting or financial matters and all financial statements to be delivered pursuant to this Agreement must be made and prepared in accordance with GAAP (including principles of consolidation where appropriate), and all accounting or financial terms mean as defined by GAAP; provided, however, that all accounting terms and related definitions used in Section 4.28, Exhibit 7.2 and in the Payment Guaranty have the meanings given to such terms and definitions under GAAP as in effect on the Effective Date applied on a basis consistent with those used in preparing Statements referred to in Section 8.8.
Appears in 1 contract
Samples: Construction Loan Agreement (Investors Real Estate Trust)
Accounting Principles; Changes in GAAP. Except as otherwise provided in this Agreement, all computations and determinations as to accounting or financial matters and all financial statements to be delivered pursuant to this Agreement must be made and prepared in accordance with GAAP (including principles of consolidation where appropriate), and all accounting or financial terms mean as defined by GAAP; provided, however, that all accounting terms and related definitions used in Section 4.28, Exhibit 7.2 and in the Payment Guaranty have the meanings given to such terms and definitions under GAAP as in effect on the Effective Date applied on a basis consistent with those used in preparing Historical Statements referred to in Section 8.8.
Appears in 1 contract
Samples: Construction Loan Agreement (Cottonwood Multifamily Opportunity Fund, Inc.)
