Accounting Principles; Subsidiaries. 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 shall be made and prepared in accordance with GAAP (including principles of consolidation where appropriate), consistently applied, and all accounting or financial terms shall have the meanings ascribed to such terms by GAAP. If at any time Borrower has any Subsidiaries, all accounting and financial terms herein shall be deemed to include references to consolidated and consolidating principles, and covenants, representations and agreements with respect to the Borrower and its properties and activities shall be deemed to refer to the Borrower and its consolidated Subsidiaries collectively.
Appears in 3 contracts
Samples: Equipment Loan and Security Agreement (Econophone Inc), Equipment Loan and Security Agreement (Econophone Inc), Equipment Loan and Security Agreement (GST Telecommunications Inc)
Accounting Principles; Subsidiaries. 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 shall be made and prepared in accordance with GAAP (including principles of consolidation where appropriate), consistently applied, and all accounting or financial terms shall have the meanings ascribed to such terms by GAAP. If at any time Borrower has any Subsidiaries, all accounting and financial terms herein shall be deemed to include references to consolidated and consolidating principles, and covenants, representations and agreements with respect to the Borrower and its properties and activities shall be deemed to refer to the Borrower and its consolidated Subsidiaries collectively.
Appears in 1 contract
Samples: Loan and Security Agreement (Focal Communications Corp)
Accounting Principles; Subsidiaries. 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 shall be made and prepared in accordance with GAAP (including principles of consolidation where appropriate), consistently applied, and all accounting or financial terms shall have the meanings ascribed to such terms by GAAP. If If, at any time time, Borrower has any Subsidiaries, all accounting and financial terms herein shall be deemed to include references to consolidated and consolidating principles, and covenants, representations and agreements with respect to the Borrower and its properties and activities shall be deemed to refer to the Borrower and its consolidated Subsidiaries collectively.
Appears in 1 contract
Samples: Loan and Security Agreement (Startec Global Communications Corp)
Accounting Principles; Subsidiaries. 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 shall be made and prepared in accordance with GAAP (including principles of consolidation where appropriate), consistently applied, and all accounting or financial terms shall have the meanings ascribed to such terms by GAAP. If at any time Borrower has any Subsidiaries, all Any requirement to provide annual financial statements and quarterly reports pursuant to this Agreement may be satisfied by providing copies of reports filed with the SEC. All accounting and financial terms herein shall be deemed to include references to consolidated and consolidating consolidation principles, and covenants, representations and agreements with respect to the Borrower Guarantor and its properties and activities shall be deemed to refer to the Borrower Guarantor and its consolidated Subsidiaries collectively.
Appears in 1 contract
Samples: Loan and Security Agreement (Ixc Communications Inc)