Common use of Accounting References Clause in Contracts

Accounting References. Where the character or amount of any asset or liability or item of income or expense is required to be determined, or any consolidation or other accounting computation is required to be made for the purposes of this Agreement, the same shall be done in accordance with US GAAP except where the application of such principles is inconsistent with, or limited by, the terms of this Agreement. Notwithstanding the foregoing provision of this Section 1.2(d), Emera shall use commercially reasonable efforts to provide Nalcor with all of the information it needs to prepare Nalcor’s accounting records in accordance with Canadian GAAP.

Accounting References. Where the character or amount of any asset or liability or item of income or expense is required to be determined, or any consolidation or other accounting computation is required to be made for the purposes of this Agreement, the same shall be done in accordance with US GAAP except where the application of such principles is inconsistent with, or limited by, the terms of this Agreement. Notwithstanding the foregoing provision of this Section 1.2(d), Emera each Party shall use commercially reasonable efforts to provide Nalcor the other Party with all of the information it needs to prepare Nalcor’s its accounting records in accordance with US GAAP or Canadian GAAP, as applicable.

Accounting References. Where the character or amount of any asset or liability or item of income or expense is required to be determined, or any consolidation or other accounting computation is required to be made for the purposes of this Agreement, the same shall be done in accordance with US GAAP except where the application of such principles is inconsistent with, or limited by, the terms of this Agreement. Notwithstanding the foregoing provision of this Section 1.2(d), Emera Transmission Provider shall use commercially reasonable efforts to provide Nalcor Transmission Customer with all of the information it needs to prepare Nalcor’s its accounting records in accordance with Canadian GAAP.

Accounting References. Where the character or amount of any asset or liability or item of income or expense is required to be determined, or any consolidation or other accounting computation is required to be made for the purposes of this Agreement, the same shall be done in accordance with US GAAP except where the application of such principles is inconsistent with, or limited by, the terms of this Agreement. Notwithstanding the foregoing provision of this Section 1.2(d), Emera shall use commercially reasonable efforts to provide Nalcor with all of the information it needs to prepare NalcorXxxxxx’s accounting records in accordance with Canadian GAAP.