Common use of Accounting Terms and Determinations; GAAP Clause in Contracts

Accounting Terms and Determinations; GAAP. Unless otherwise ----------------------------------------- specified herein, all accounting terms used herein shall be interpreted, all determinations with respect to accounting matters hereunder shall be made, and all financial statements and certificates and reports as to financial matters required to be furnished to the Administrative Agent or the Lenders hereunder shall be prepared, in accordance with GAAP (or, with respect to the Borrower or its Subsidiaries, as otherwise agreed by the Borrower and the Administrative Agent), applied on a basis consistent with the Financial Statements except for changes in which the Borrower's independent certified public accountants concur and that are disclosed to Administrative Agent on the next date on which financial statements are required to be delivered to the Lenders pursuant to Section 9.01(a); provided that, unless the Borrower and the Lenders shall -------- otherwise agree in writing, no such change shall modify or affect the manner in which compliance with the covenants contained herein is computed such that all such computations shall be conducted utilizing financial information presented consistently with prior periods.

Appears in 5 contracts

Samples: Credit Agreement (Crested Corp), Credit Agreement (Crested Corp), Credit Agreement (Us Energy Corp)

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Accounting Terms and Determinations; GAAP. Unless otherwise ----------------------------------------- specified herein, all accounting terms used herein shall be interpreted, all determinations with respect to accounting matters hereunder shall be made, and all financial statements and certificates and reports as to financial matters required to be furnished to the Administrative Agent or the Lenders hereunder shall be prepared, in accordance with GAAP (or, with respect to the Borrower or its Subsidiaries, as otherwise agreed by the Borrower and the Administrative Agent)GAAP, applied on a basis consistent with the Financial Statements except for changes in which the Borrower's ’s independent certified public accountants concur and that which are disclosed to Administrative Agent on as part of, or along with, the next date on which audited annual financial statements are required to be delivered to the Lenders pursuant to Section 9.01(a8.01(a); provided that, unless the Borrower and the Required Lenders shall -------- otherwise agree in writing, no such change (including any such change to the effect that operating leases, as defined pursuant to GAAP on the date hereof, are to be treated as, or similar to, Capital Leases) shall modify or affect the manner in which compliance with the covenants contained herein is computed such that all such computations shall be conducted utilizing financial information presented consistently with prior periods.

Appears in 2 contracts

Samples: MLP Credit Agreement (PennTex Midstream Partners, LP), MLP Credit Agreement

Accounting Terms and Determinations; GAAP. Unless otherwise ----------------------------------------- specified herein, all accounting terms used herein shall be interpreted, all determinations with respect to accounting matters hereunder shall be made, and all financial statements and certificates and reports as to financial matters required to be furnished to the Administrative Agent or the Lenders Lender hereunder shall be prepared, in accordance with GAAP (or, with respect to the Borrower or its Subsidiaries, as otherwise agreed by the Borrower and the Administrative Agent)GAAP, applied on a basis consistent with the Financial Statements financial statements except for changes in which the Borrower's ’s independent certified public accountants concur and that which are disclosed to Administrative Agent Lender on the next date on which financial statements are required to be delivered to the Lenders Lender pursuant to Section 9.01(a7.01(a); provided that, unless the Borrower and the Lenders Lender shall -------- otherwise agree in writing, no such change shall modify or affect the manner in which compliance with the covenants contained herein is computed such that all such computations shall be conducted utilizing financial information presented consistently with prior periods; and provided further that interim financial statements shall be prepared in accordance with SEC rules for interim financial statements.

Appears in 1 contract

Samples: Secured Term Credit Agreement (PetroShare Corp.)

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Accounting Terms and Determinations; GAAP. Unless otherwise ----------------------------------------- specified herein, all accounting terms used herein shall be interpreted, all determinations with respect to accounting matters hereunder shall be made, and all financial statements and certificates and reports as to financial matters required to be furnished to the Administrative Agent or the Lenders hereunder shall be prepared, in accordance with GAAP (or, with respect to Parent, the Borrower or its their Subsidiaries, as otherwise agreed by the Borrower and the Administrative Agent), applied on a basis consistent with the Financial Statements except for changes in which the Parent's and/or Borrower's independent certified public accountants concur and that are disclosed to Administrative Agent on the next date on which financial statements are required to be delivered to the Lenders pursuant to Section 9.01(a); provided PROVIDED that, unless the Borrower and the Lenders shall -------- otherwise agree in writing, no such change shall modify or affect the manner in which compliance with the covenants contained herein is computed such that all such computations shall be conducted utilizing financial information presented consistently with prior periods.

Appears in 1 contract

Samples: Credit Agreement (National Coal Corp)

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