Common use of Accounting Terms and Determinations Clause in Contracts

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 15 contracts

Samples: Credit Agreement (MSC Income Fund, Inc.), Credit Agreement (MSC Income Fund, Inc.), Credit Agreement (HMS Income Fund, Inc.)

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Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Banks unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 15 contracts

Samples: Credit Agreement (Home Depot Inc), Credit Agreement (Russell Corp), Credit Agreement (Springs Industries Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBanks, unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 10 contracts

Samples: Credit Agreement (Meredith Corp), Credit Agreement (Scana Corp), Credit Agreement (Cadmus Communications Corp/New)

Accounting Terms and Determinations. Unless (a) Except as otherwise specified expressly provided herein, all accounting terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements and certificates and reports as to financial matters required to be delivered to the Lenders hereunder shall (unless otherwise disclosed to the Lenders in writing at the time of delivery thereof in the manner described in subsection (b) below) be prepared prepared, in accordance with GAAP, generally accepted accounting principles applied on a basis consistent (except for changes concurred with those used in by the Borrower’s independent public accountants or otherwise required by a change in GAAP) with preparation of the most recent audited consolidated latest financial statements of the Borrower and its Consolidated Subsidiaries delivered furnished to the Administrative Agent Lenders hereunder. All calculations made for distribution to the Lenders, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in purposes of determining compliance with any this Agreement shall (except as otherwise expressly provided herein) be made by application of generally accepted accounting principles applied on a basis consistent with those used in the preparation of the provisions of this Agreement latest annual or any of quarterly financial statements furnished to the other Loan Documents: Lenders pursuant to Section 8.01 hereof unless (i) the Borrower Company shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, statements or (ii) the Required Majority Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04)made.

Appears in 6 contracts

Samples: Credit Agreement (Suiza Foods Corp), Credit Agreement (Suiza Foods Corp), Credit Agreement (Suiza Foods Corp)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBank, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Bank shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 6 contracts

Samples: Credit Agreement (Bassett Furniture Industries Inc), Credit Agreement (Bassett Furniture Industries Inc), Credit Agreement (Bassett Furniture Industries Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 4 contracts

Samples: Credit Agreement (St Joe Co), Credit Agreement (St Joe Co), Credit Agreement (Main Street Capital CORP)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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 (except that financial statements of the Insurance Subsidiaries shall be prepared in accordance with GAAPSAP), applied on a basis consistent (except for changes concurred in with by the BorrowerGuarantor’s independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Guarantor and its the Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Funding Parties unless with respect to any such change concurred in with by the BorrowerGuarantor’s independent public accountants or required by GAAP or permitted by GAAPSAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Operative Documents: (ia) the Borrower Guarantor shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (iib) the Required Lenders Majority Funding Parties shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof8.01, shall mean the financial statements referred to in Section 4.047.01(d)).

Appears in 4 contracts

Samples: Investment and Participation Agreement (Protective Life Insurance Co), Investment and Participation Agreement (Protective Life Corp), Investment and Participation Agreement (Protective Life Insurance Co)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBanks, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 4 contracts

Samples: Credit Agreement (Outback Steakhouse Inc), Credit Agreement (Bassett Furniture Industries Inc), Credit Agreement (Bassett Furniture Industries Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Banks unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 6.01 hereof, shall mean the financial statements referred to in Section 4.045.04).

Appears in 4 contracts

Samples: Reimbursement Agreement (Gables Residential Trust), Credit Agreement (Gables Residential Trust), Credit Agreement (Gables Realty Limited Partnership)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s Parent's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Parent and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Banks unless with respect to any such change concurred in by the Borrower’s Parent's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower Parent shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 4 contracts

Samples: Credit Agreement (Gables Realty Limited Partnership), Credit Agreement (Gables Residential Trust), Credit Agreement (Gables Realty Limited Partnership)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAPGAAP or Applicable Law) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAPGAAP or Applicable Law, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 3 contracts

Samples: Credit Agreement (Main Street Capital CORP), Credit Agreement (MSC Income Fund, Inc.), Credit Agreement (Main Street Capital CORP)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s Parent's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Parent and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBanks, unless with respect to any such change concurred in by the Borrower’s Parent's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower Parent shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 3 contracts

Samples: Credit Agreement (Valspar Corp), Credit Agreement (Valspar Corp), Credit Agreement (Valspar Corp)

Accounting Terms and Determinations. Unless otherwise ----------------------------------- specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Banks unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 3 contracts

Samples: Credit Agreement (JDN Realty Corp), Credit Agreement (JDN Realty Corp), Credit Agreement (JDN Realty Corp)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants Certified Public Accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Parent and its Consolidated the Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Lenders unless with respect to any such change concurred in by the Borrower’s independent public accountants Certified Public Accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Credit Documents: (ia) the Borrower Parent shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (iib) the Required Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section SECTION 5.01 hereof, shall mean means the financial statements referred to in Section SECTION 4.04).

Appears in 3 contracts

Samples: Credit and Security Agreement (Commscope Inc), Credit and Security Agreement (Commscope Inc), Credit and Security Agreement (Belden Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Lenders unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 SECTION 6.1 hereof, shall mean the financial statements referred to in Section 4.04SECTION 5.4).

Appears in 2 contracts

Samples: Year Credit Agreement (Houghton Mifflin Co), Credit Agreement (Houghton Mifflin Co)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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 (except that financial statements of the Insurance Subsidiaries shall be prepared in accordance with GAAPSAP), applied on a basis consistent (except for changes concurred in with by the BorrowerGuarantor’s independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Guarantor and its the Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Funding Parties unless with respect to any such change concurred in with by the BorrowerGuarantor’s independent public accountants or required by GAAP or permitted by GAAPSAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Operative Documents: (ia) the Borrower Guarantor shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (iib) the Required Lenders Majority Funding Parties shall so object in writing within 30 thirty (30) days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof8.01, shall mean the financial statements referred to in Section 4.047.01(d)).

Appears in 2 contracts

Samples: Investment and Participation Agreement (Protective Life Insurance Co), Investment and Participation Agreement (Protective Life Corp)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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 (a) in the case of the Borrower and each Subsidiary, GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBank, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Bank shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04), and (b) in the case of any Insurance Subsidiary, statutory accounting principles as in effect from time to time, applied on a consistent basis.

Appears in 2 contracts

Samples: Credit Agreement (Atlantic American Corp), Credit Agreement (Atlantic American Corp)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s Franklin Electric's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Franklin Electric and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBanks, unless with respect to any such change concurred in by the Borrower’s Franklin Electric's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower Franklin Electric shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events (x) such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof5.01, shall mean the financial statements referred to in Section 4.04), and (y) the Banks and Franklin Electric will negotiate in good faith to revise the financial covenants contained in this Agreement solely for the purpose of reflecting such changes so that the criteria for evaluating Franklin Electric's consolidated financial condition and performance will be substantially the same after such changes as they were before such changes.

Appears in 2 contracts

Samples: Credit Agreement (Franklin Electric Co Inc), Credit Agreement (Franklin Electric Co Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Banks unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (ia) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (iib) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events events, the Banks and the Borrower shall negotiate in good faith to resolve any existing disagreements regarding such calculations, provided, that if such disagreements are not resolved within 30 days after receipt of a notice of objection, such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 2 contracts

Samples: Five Year Credit Agreement (Mohawk Industries Inc), 364 Day Credit Agreement (Mohawk Industries Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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 GAAPgenerally accepted accounting principles, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAPgenerally accepted accounting principles) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBanks, unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAPgenerally accepted accounting principles, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 2 contracts

Samples: Credit Agreement (Liberty Corp), Day Credit Agreement (Liberty Corp)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Banks unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events the Banks and the Borrower shall negotiate in good faith to resolve any existing disagreements regarding such calculations, provided, that if such disagreements are not resolved within 30 days after receipt of a notice of objection, such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 2 contracts

Samples: Credit Agreement (Mohawk Industries Inc), Credit Agreement (Mohawk Industries Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at or prior the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 thirty (30) calendar days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest most recent financial statements as provided by the Borrower prior to which such objection shall not have been made change (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 2 contracts

Samples: Credit Agreement (Trex Co Inc), Credit Agreement (Trex Co Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to by the Administrative Agent for distribution Borrower to the Lenders, unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (ia) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (iib) the Required Lenders Administrative Agent shall so object in writing within 30 thirty (30) days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 6.01 hereof, shall mean the financial statements referred to in Section 4.045.04).

Appears in 2 contracts

Samples: Credit Agreement (Meredith Corp), Credit Agreement (Meredith Corp)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution Lender (or, prior to delivery of the Lendersinitial set of audited consolidated financial statements of the Borrower, consistent with the most recent audited consolidated financial statements of NDC), unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan DocumentsAgreement: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Lender shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if such objection is made in respect of the first financial statements delivered under Section 5.01 hereof5.1, shall mean the financial statements referred to in Section 4.044.4 of the Syndicated Credit Agreement).

Appears in 1 contract

Samples: Credit Agreement (Global Payments Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all accounting terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder (including without limitation determinations made pursuant to the exhibits hereto) shall be made, and all financial statements required to be delivered hereunder shall be prepared on a consolidated basis in accordance with GAAP, GAAP applied on a basis consistent (except for changes concurred in with by the Borrower’s Borrowers' independent public accountants or otherwise required by a change in GAAPaccountants) with the most recent audited consolidated financial statements of Atlantic and the Borrower and its applicable Consolidated Subsidiaries delivered to the Administrative Agent for distribution and each Lender; provided that if (a) any Borrower shall object to the Lenders, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis by written notice delivered to Agent and Lenders at the time of delivery of such required financial statements, statements due to any change in GAAP or the rules promulgated with respect thereto or the application thereof or (iib) Agent or the Required Lenders shall so object in writing by written notice delivered to Borrowers within 30 sixty (60) days after the delivery of such financial statements, in either of which events then such calculations shall be made on a basis consistent with those used in the preparation of the latest most recent financial statements delivered by Borrowers to Lenders as to which no such objection shall not have been made. All amounts used for purposes of financial calculations required to be made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, herein shall mean the financial statements referred to in Section 4.04)be without duplication.

Appears in 1 contract

Samples: Credit Agreement (Atlantic Premium Brands LTD)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAPGAAP or Applicable Law) with the most recent audited consolidated financial statements of the Borrower and its Conformed Credit Agreement - Page 56 ‌ ​ 140760.01015/126600145v.2 ‌ ​ Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAPGAAP or Applicable Law, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (MSC Income Fund, Inc.)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the BorrowerCompany’s independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Company and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBanks, unless with respect to any such change concurred in by the BorrowerCompany’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower Company shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (Scansource Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all accounting terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder (including, without limitation, determinations made pursuant to the exhibits hereto) shall be made, and all financial statements required to be delivered hereunder hereunder, shall be prepared on a consolidated basis in accordance with GAAP, applied on a basis consistent ; provided that if (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAPa) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered shall object to the Administrative Agent for distribution to the Lenders, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this DIP Credit Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis by written notice delivered to DIP Agent and DIP Lenders at the time of delivery of such required financial statementsstatements due to any change in GAAP or the rules promulgated with respect thereto, or (iib) the Required Lenders a DIP Lender shall so object in writing by written notice delivered to Borrower within 30 sixty (60) days after the delivery of such financial statements, in either of which events then such calculations shall be made on a basis consistent with those used in the preparation of the latest most recent financial statements delivered by Borrower to DIP Agent and DIP Lenders as to which no such objection shall not have been made. All amounts used for purposes of financial calculations required to be made (whichherein shall be without duplication. For the avoidance of doubt, if objection is made in respect of this Section 1.02 shall not apply to the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04)Approved Budget.

Appears in 1 contract

Samples: Credit Agreement (Real Industry, Inc.)

Accounting Terms and Determinations. Unless (a) Except as otherwise specified expressly provided herein, all accounting terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements and certificates and reports as to financial matters required to be delivered to the Lenders hereunder shall (unless otherwise disclosed to the Lenders in writing at the time of delivery thereof in the manner described in subsection (b) below) be prepared prepared, in accordance with GAAP, generally accepted accounting principles applied on a basis consistent (except for changes concurred with those used in by the Borrower’s independent public accountants or otherwise required by a change in GAAP) with preparation of the most recent audited consolidated latest financial statements of the Borrower and its Consolidated Subsidiaries delivered furnished to the Administrative Agent Lenders hereunder. All calculations made for distribution to the Lenders, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in purposes of determining compliance with any this Agreement shall (except as otherwise expressly provided herein) be made by application of generally accepted accounting principles applied on a basis consistent with those used in the preparation of the provisions of this Agreement latest annual or any of quarterly financial statements furnished to the other Loan Documents: Lenders pursuant to Section 9.01 hereof unless (i) the Borrower SSC shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, statements or (ii) the Required Majority Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04)made.

Appears in 1 contract

Samples: Credit Agreement (Tanner Chemicals Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, ----------------------------------- all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s Borrowers' independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries Weeks Corporation delivered to the Administrative Agent for distribution to the LendersBanks, unless with respect to any such change concurred in by the Borrower’s Borrowers' independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (ia) the Borrower Weeks Corporation or Borrowers shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (iib) the Required Lenders Banks shall so object in writing within 30 thirty (30) days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of to the first financial statements delivered under Section 5.01 hereof10.03, shall mean the financial statements referred to in Section 4.049.11).

Appears in 1 contract

Samples: Credit Agreement (Weeks Corp)

Accounting Terms and Determinations. Unless otherwise ----------------------------------- specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s Company's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Company and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Funding Parties unless with respect to any such change concurred in by the Borrower’s Company's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Operative Documents: (ia) the Borrower Company shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (iib) the Required Lenders Majority Funding Parties shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 8.01 hereof, shall mean the financial statements referred to in Section 4.047.01(d)., ARTICLE II

Appears in 1 contract

Samples: Investment and Participation Agreement (Us Xpress Enterprises Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all accounting terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder (including without limitation determinations made pursuant to the exhibits hereto) shall be made, and all financial statements required to be delivered hereunder shall be prepared on a consolidated basis in accordance with GAAP, GAAP applied on a basis consistent (except for changes concurred in with by the Borrower’s 's independent public accountants or otherwise required by a change in GAAPaccountants) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to and each of the Lenders, unless with respect ; provided that if (a) Borrower shall object to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis by written notice delivered to Agent and the Lenders at the time of delivery of such required financial statements, statements due to any change in GAAP or the rules promulgated with respect thereto or (iib) Agent or the Required Lenders shall so object in writing by written notice delivered to Borrower within 30 sixty (60) days after the delivery of such financial statements, in either of which events then such calculations shall be made on a basis consistent with those used in the preparation of the latest most recent financial statements delivered by Borrower to the Lenders as to which no such objection shall not have been made. All amounts used for purposes of financial calculations required to be made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, herein shall mean the financial statements referred to in Section 4.04)be without duplication.

Appears in 1 contract

Samples: Credit Agreement (Radiologix Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s Lessee's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Lessee and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Lessor unless with respect to any such change concurred in by the Borrower’s Lessee's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement Lease or any of the other Loan Operative Documents: (ia) the Borrower Lessee shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (iib) the Required Lenders Lessor shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof30(a) of the Lease, shall mean the financial statements referred to in Section 4.0429(d).

Appears in 1 contract

Samples: Master Lease Agreement (Coca Cola Bottling Co Consolidated /De/)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants Certified Public Accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated the Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Lenders unless with respect to any such change concurred in by the Borrower’s independent public accountants Certified Public Accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Credit Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section SECTION 5.01 hereof, shall mean means the financial statements referred to in Section SECTION 4.04).

Appears in 1 contract

Samples: Credit and Security Agreement (Thomas & Betts Corp)

Accounting Terms and Determinations. Unless otherwise specified ----------------------------------- herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries Weeks Corporation delivered to the Administrative Agent for distribution to the LendersBanks, unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (ia) the Weeks Corporation or Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (iib) the Required Lenders Banks shall so object in writing within 30 thirty (30) days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of to the first financial statements delivered under Section 5.01 hereof8.03, shall mean the financial statements referred to in Section 4.047.12).

Appears in 1 contract

Samples: Syndicated Credit Agreement (Weeks Realty L P)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants Certified Public Accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Parent and its Consolidated the Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Lenders unless with respect to any such change concurred in by the Borrower’s independent public accountants Certified Public Accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Credit Documents: (i) the Borrower Parent shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section SECTION 5.01 hereof, shall mean means the financial statements referred to in Section SECTION 4.04). The Parent shall notify the Lenders promptly upon its learning thereof of any such change concurred in by the Certified Public Accountants or otherwise required by a change in GAAP.

Appears in 1 contract

Samples: Credit Agreement (Crown Crafts Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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 GAAPgenerally accepted accounting principles as in effect from time to time, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAPaccountants) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 thirty 30) days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (Starrett L S Co)

Accounting Terms and Determinations. Unless otherwise ----------------------------------- specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s relevant Reporting Entity's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries relevant Reporting Entity delivered to the Administrative Agent for distribution to the Lenders, Banks unless with respect to any such change concurred in by the Borrower’s relevant Reporting Entity's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower such relevant Reporting Entity shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events the Banks and such relevant Reporting Entity shall negotiate in good faith to resolve any existing disagreements regarding such calculations, provided, that if such disagreements are not resolved within 30 days after receipt of a notice of objection, such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof5.01, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (Mohawk Industries Inc)

Accounting Terms and Determinations. Unless ----------------------------------- otherwise specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s Company's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Company and its Consolidated Subsidiaries delivered to the Administrative Lessor, the Agent for distribution to and the Lenders, Lenders unless with respect to any such change concurred in by the Borrower’s Company's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Operative Documents: (ia) the Borrower Company shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (iib) the Required Lenders shall so object in writing within 30 thirty (30) days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 8.01 hereof, shall mean the financial statements referred to in Section 4.047.01(d).

Appears in 1 contract

Samples: Credit and Investment Agreement (Scientific Atlanta Inc)

Accounting Terms and Determinations. Unless otherwise ----------------------------------- specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBanks, unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (Scansource Inc)

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Accounting Terms and Determinations. Unless otherwise ----------------------------------- specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the relevant Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the relevant Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Banks unless with respect to any such change concurred in by the relevant Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the such relevant Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events the Banks and such relevant Borrower shall negotiate in good faith to resolve any existing disagreements regarding such calculations, provided, that if such disagreements are not resolved within 30 days after receipt of a notice of objection, such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof5.01, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (Mohawk Industries Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in with by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (Belden Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s Company's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Company and its Consolidated consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Lenders unless with respect to any such change concurred in by the Borrower’s Company's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Credit Agreement or any of the other Loan Credit Documents: (i) the Company or the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 7.1 hereof, shall mean the financial statements referred to in Section 4.046.1). At any time that there is no material difference (other than intercompany transactions which eliminate in the consolidation of the Company's financial statements) between the financial information of the Company and it Subsidiaries and the financial information of the Borrower and its Subsidiaries, the Borrower may use any financial information of the Company and its Subsidiaries in full satisfaction of any provision of this Credit Agreement (including, but not limited to, the delivery of financial information pursuant to Section 7.1 and the determination of compliance with the financial covenants pursuant to Section 7.9).

Appears in 1 contract

Samples: Credit Agreement (Cort Business Services Corp)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBank, unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Bank shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (Hancock Fabrics Inc)

Accounting Terms and Determinations. (a) Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at or prior to the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 thirty (30) calendar days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest most recent financial statements as provided by the Borrower prior to which such objection shall not have been made change (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (Trex Co Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBanks, unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (Winston Hotels Inc)

Accounting Terms and Determinations. Unless otherwise ----------------------------------- specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s Parent's and its Consolidated Subsidiaries' independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Parent and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBanks, unless with respect to any such change concurred in by the Borrower’s Parent's independent public accountants or required or permitted by GAAP, GAAP in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower Parent shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (Equifax Inc)

Accounting Terms and Determinations. Unless otherwise specified hereinin any Operative Document, all terms of an accounting character used herein therein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s Representative's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Representative and its Consolidated Subsidiaries delivered to the Administrative Agent, the Agent for distribution to Lessor and the LendersParticipants, unless with respect to any such change concurred in by the Borrower’s Representative's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan DocumentsOperative Document: (i) the Borrower Representative shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Participants shall so object in writing (delivered to the Representative) within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which no such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04)made.

Appears in 1 contract

Samples: Participation Agreement (Beverly Enterprises Inc /De/)

Accounting Terms and Determinations. Unless otherwise ----------------------------------- specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution Lenders (or, prior to delivery of the Lendersinitial set of audited consolidated financial statements of the Borrower, consistent with the most recent audited consolidated financial statements of NDC), unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if such objection is made in respect of the first financial statements delivered under Section 5.01 hereof5.1, shall mean the financial statements referred to in Section 4.044.4).

Appears in 1 contract

Samples: Credit Agreement (Global Payments Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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 GAAPgenerally accepted accounting principles as in effect from time to time, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAPaccountants) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 thirty 30) days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (Starrett L S Co)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBank, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Bank shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04for the Fiscal Year ending December 31, 1999).

Appears in 1 contract

Samples: Credit Agreement (Outback Steakhouse Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Bank unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Bank shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Master Credit Agreement (Savannah Foods & Industries Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBank, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Bank shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04for the Fiscal Year ending December 31, [2005]).

Appears in 1 contract

Samples: Credit Agreement (Osi Restaurant Partners, Inc.)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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 (a) in the case of the Borrower and each Subsidiary that is not an Insurance Subsidiary, GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBank, unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Bank shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such A#0004945.01 12 objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04), and (b) in the case of any Insurance Subsidiary, statutory accounting principles as in effect from time to time, applied on a consistent basis.

Appears in 1 contract

Samples: Credit Agreement (Atlantic American Corp)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants Public Accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Parent and its the Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Lenders unless with respect to any such change concurred in by the Borrower’s independent public accountants Public Accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (ia) the Borrower Parent shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (iib) the Required Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 6.01 hereof, shall mean means the financial statements referred to in Section 4.045.04).

Appears in 1 contract

Samples: Credit Agreement (Airborne Inc /De/)

Accounting Terms and Determinations. Unless otherwise specified herein, all accounting terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder (including without limitation determinations made pursuant to the exhibits hereto) shall be made, and all financial statements required to be delivered hereunder shall be prepared on a consolidated basis in accordance with GAAP, GAAP applied on a basis consistent (except for changes concurred in with by the Borrower’s AAR's independent public accountants or otherwise required by a change in GAAPaccountants) with the most recent audited consolidated financial statements of the Borrower AAR and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to and each of the Lenders, unless with respect ; PROVIDED that if (a) Borrowers shall object to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis by written notice delivered to Agent and the Lenders at the time of delivery of such required financial statements, statements due to any change in GAAP or the rules promulgated with respect thereto or (iib) Agent or the Required Lenders shall so object in writing by written notice delivered to Borrowers within 30 sixty (60) days after the delivery of such financial statements, in either of which events then such calculations shall be made on a basis consistent with those used in the preparation of the latest most recent financial statements delivered by Borrowers to the Lenders as to which no such objection shall not have been made. All amounts used for purposes of financial calculations required to be made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, herein shall mean the financial statements referred to in Section 4.04)be without duplication.

Appears in 1 contract

Samples: Credit Agreement (Aar Corp)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, unless with respect to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 thirty (30) days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (Usa Truck Inc)

Accounting Terms and Determinations. (a) Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Lenders unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Credit Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events the Lenders and the Borrower shall negotiate in good faith to resolve any existing disagreements regarding such calculations, provided, that if such disagreements are not resolved within 30 days after receipt or a notice of objection, such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof5.01, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (Mohawk Industries Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by with which the Borrower’s 's independent public accountants concur or that are otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent Lenders except for distribution to the Lenders, unless with respect to any such change concurred in by which the Borrower’s 's independent public accountants concur or is required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (Checkers Drive in Restaurants Inc /De)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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 (a) in the case of the Borrower and each Subsidiary, GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBank, unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Bank shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04), and (b) in the case of any Insurance Subsidiary, statutory accounting principles as in effect from time to time, applied on a consistent basis.

Appears in 1 contract

Samples: Credit Agreement (Atlantic American Corp)

Accounting Terms and Determinations. Unless otherwise specified herein, all accounting terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder (including without limitation determinations made pursuant to the exhibits hereto) shall be made, and all financial statements required to be delivered hereunder shall be prepared on a consolidated basis in accordance with GAAP, GAAP applied on a basis consistent (except for changes concurred in with by the Borrower’s Borrowers’ independent public accountants or otherwise required by a change in GAAPaccountants) with the most recent audited consolidated financial statements of the Borrower Holdings and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to and each of the Lenders, unless with respect ; provided that if (a) the Borrowers shall object to any such change concurred in by the Borrower’s independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis by written notice delivered to Administrative Agent and the Lenders at the time of delivery of such required financial statements, statements due to any change in GAAP or the rules promulgated with respect thereto or (iib) Administrative Agent or the Required Lenders shall so object in writing by written notice delivered to the Funds Administrator within 30 sixty (60) days after the delivery of such financial statements, in either of which events then such calculations shall be made on a basis consistent with those used in the preparation of the latest most recent financial statements delivered by the Borrowers to the Lenders as to which no such objection shall not have been made. All amounts used for purposes of financial calculations required to be made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, herein shall mean the financial statements referred to in Section 4.04)be without duplication.

Appears in 1 contract

Samples: Credit Agreement (Comsys It Partners Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04).

Appears in 1 contract

Samples: Credit Agreement (Triangle Capital CORP)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character 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, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the LendersBank, unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Bank shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof, shall mean the financial statements referred to in Section 4.04for the Fiscal Year ending December 31, 1999).

Appears in 1 contract

Samples: Credit Agreement (Outback Steakhouse Inc)

Accounting Terms and Determinations. Unless otherwise ----------------------------------- specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s 's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Banks unless with respect to any such change concurred in by the Borrower’s 's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement or any of the other Loan Documents: (i) the Borrower shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (ii) the Required Lenders Banks shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof6.01, shall mean the financial statements referred to in Section 4.045.04).

Appears in 1 contract

Samples: Credit Agreement (Us Xpress Enterprises Inc)

Accounting Terms and Determinations. Unless otherwise specified herein, all terms of an accounting character used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared prepared, in accordance with GAAP, applied on a basis consistent (except for changes concurred in by the Borrower’s Lessee's independent public accountants or otherwise required by a change in GAAP) with the most recent audited consolidated financial statements of the Borrower Lessee and its Consolidated Subsidiaries delivered to the Administrative Agent for distribution to the Lenders, Lessor unless with respect to any such change concurred in by the Borrower’s Lessee's independent public accountants or required or permitted by GAAP, in determining compliance with any of the provisions of this Agreement Lease or any of the other Loan Operative Documents: (ia) the Borrower Lessee shall have objected to determining such compliance on such basis at the time of delivery of such financial statements, or (iib) the Required Lenders Lessor shall so object in writing within 30 days after the delivery of such financial statements, in either of which events such calculations shall be made on a basis consistent with those used in the preparation of the latest financial statements as to which such objection shall not have been made (which, if objection is made in respect of the first financial statements delivered under Section 5.01 hereof30(a) of the Lease, shall mean the financial statements referred to in Section 4.0429(d)).

Appears in 1 contract

Samples: Lease Agreement (Krispy Kreme Doughnuts Inc)

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