Common use of Accounting Terms and Determination Clause in Contracts

Accounting Terms and Determination. Unless otherwise defined or specified herein, all accounting terms used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared, in accordance with GAAP as in effect from time to time, applied on a basis consistent (except for such changes approved by KPP's independent public accountants) with the most recent audited consolidated financial statement of KPP delivered pursuant to Section 5.1(a); provided, that if KPP notifies the Administrative Agent that KPP wishes to amend any covenant in Article VI to eliminate the effect of any change in GAAP on the operation of such covenant (or if the Administrative Agent notifies KPP that the Required Lenders wish to amend Article VI for such purpose), then KPP's compliance with such covenant shall be determined on the basis of GAAP in effect immediately before the relevant change in GAAP became effective, until either such notice is withdrawn or such covenant is amended in a manner satisfactory to KPP and the Required Lenders.

Accounting Terms and Determination. Unless otherwise defined or specified herein, all accounting terms used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared, in accordance with GAAP as in effect from time to time, applied on a basis consistent (except for such changes approved by KPP's independent public accountants) with the most recent audited consolidated financial statement statements of KPP PRGX and its Subsidiaries delivered pursuant to Section 5.1(a); provided, that if KPP the Borrowers’ Agent notifies the Administrative Agent that KPP wishes the Borrowers wish to amend any covenant in Article VI to eliminate the effect of any change in GAAP on the operation of such covenant (or if the Administrative Agent notifies KPP the Borrowers’ Agent that the Required Lenders wish to amend Article VI for such purpose), then KPP's the Borrowers’ compliance with such covenant shall be determined on the basis of GAAP in effect immediately before the relevant change in GAAP became effective, until either such notice is withdrawn or such covenant is amended in a manner satisfactory to KPP the Borrowers and the Required Lenders.

Accounting Terms and Determination. Unless otherwise defined or specified herein, all accounting terms used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared, in accordance with GAAP as in effect from time to time, applied on a basis consistent (except for such changes approved by KPP's independent public accountants) with the most recent audited consolidated financial statement statements of KPP the Borrower and its Subsidiaries delivered pursuant to Section 5.1(a); provided, that if KPP the Borrower notifies the Administrative Agent that KPP the Borrower wishes to amend any covenant in Article VI to eliminate the effect of any change in GAAP on the operation of such covenant (or if the Administrative Agent notifies KPP the Borrower that the Required Lenders wish to amend Article VI for such purpose), then KPP's the Borrower’s compliance with such covenant shall be determined on the basis of GAAP in effect immediately before the relevant change in GAAP became effective, until either such notice is withdrawn or such covenant is amended in a manner satisfactory to KPP the Borrower and the Required Lenders. Furthermore, the Borrower hereby agrees that any election pursuant to FASB ASC 825 shall be disregarded for all purposes of this Agreement, including, without limitation, for calculating financial ratios herein and determining compliance with the financial covenants herein.

Accounting Terms and Determination. Unless otherwise defined or specified herein, all accounting terms used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared, in accordance with GAAP as in effect from time to time, applied on a basis consistent (except for such changes approved by KPPBorrower's independent public accountants) with the most recent audited consolidated combined financial statement of KPP Borrower delivered pursuant to Section 5.1(aSECTION 5.01(A); providedPROVIDED, that if KPP Borrower notifies the Administrative Agent Lender that KPP Borrower wishes to amend any covenant in Article ARTICLE VI to eliminate the effect of any change in GAAP on the operation of such covenant (or if the Administrative Agent notifies KPP that the Required Lenders wish to amend Article VI for such purpose)covenant, then KPPBorrower's compliance with such covenant shall be determined on the basis of GAAP in effect immediately before the relevant change in GAAP became effective, until either such notice is withdrawn or such covenant is amended in a manner satisfactory to KPP Borrower and the Required LendersLender.

Accounting Terms and Determination. Unless otherwise defined or ---------------------------------- specified herein, all accounting terms used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared, in accordance with GAAP as in effect from time to time, applied on a basis consistent (except for such changes approved by KPP's independent public accountants) with the most recent audited consolidated financial statement statements of KPP the Borrower delivered pursuant to Section 5.1(a); provided, that if KPP the Borrower notifies the Administrative Agent ----------- -------- that KPP the Borrower wishes to amend any covenant in Article VI to eliminate the effect of any change in GAAP on the operation of such covenant (or if the Administrative Agent notifies KPP the Borrower that the Required Lenders wish to amend Article VI for such purpose), then KPPthe Borrower's compliance with such covenant shall be determined on the basis of GAAP in effect immediately before the relevant change in GAAP became effective, until either such notice is withdrawn or such covenant is amended in a manner satisfactory to KPP the Borrower and the Required Lenders.

Accounting Terms and Determination. Unless otherwise defined ---------------------------------- or specified herein, all accounting terms used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared, in accordance with GAAP as in effect from time to time, applied on a basis consistent (except for such changes approved by KPP's independent public accountants) with the most recent audited consolidated financial statement statements of KPP the Borrower delivered pursuant to Section 5.1(a); provided, that if KPP the Borrower notifies the Administrative Agent ------------- -------- that KPP the Borrower wishes to amend any covenant in Article VI to eliminate the effect of any change in GAAP on the operation of such covenant (or if the Administrative Agent notifies KPP the Borrower that the Required Lenders wish to amend Article VI for such purpose), then KPPthe Borrower's compliance with such covenant shall be determined on the basis of GAAP in effect immediately before the relevant change in GAAP became effective, until either such notice is withdrawn or such covenant is amended in a manner satisfactory to KPP the Borrower and the Required Lenders.

Accounting Terms and Determination. Unless otherwise ---------------------------------- defined or specified herein, all accounting terms used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared, in accordance with GAAP as in effect from time to time, applied on a basis consistent (except for such changes approved by KPP's independent public accountants) with the most recent audited consolidated financial statement of KPP the Borrower delivered pursuant to Section 5.1(a); ----------- - provided, that if KPP the Borrower notifies the Administrative Agent that KPP the -------- Borrower wishes to amend any covenant in Article VI to eliminate the effect of any change in GAAP on the operation of such covenant (or if the Administrative Agent notifies KPP the Borrower that the Required Lenders wish to amend Article VI for such purpose), then KPPthe Borrower's compliance with such covenant shall be determined on the basis of GAAP in effect immediately before the relevant change in GAAP became effective, until either such notice is withdrawn or such covenant is amended in a manner satisfactory to KPP the Borrower and the Required Lenders.