Accounting Terms; Calculations. (a) In any Loan Document, unless specified otherwise, each accounting term has the meaning assigned to it under IFRS.
(b) For greater clarity and unless otherwise specifically provided herein, the consolidated financial results of Hudbay prepared in accordance with IFRS shall be used for the purposes of calculating Adjusted Net Income, EBITDA and Consolidated Interest Expense (and in each case all components thereof).
Accounting Terms; Calculations. All accounting terms not specifically defined herein shall have the meanings generally attributed to such terms under GAAP. Calculations hereunder shall be made and financial data required hereby shall be prepared, both as to classification of items and as to amounts, in accordance with GAAP, consistently applied (except as otherwise specifically required herein).
Accounting Terms; Calculations. All accounting and financial terms not specifically defined herein shall be construed in accordance with GAAP as in effect from time to time. All financial statements shall reflect the Borrowers adoption of FAS 143 (if applicable), and, if any change in GAAP in itself affects the calculation of any financial covenant set forth in this Agreement, the Borrower Representative may by written notice to the Lender, or the Lender may, by written notice to the Borrower Representative, require that such covenant thereafter be calculated in accordance with GAAP as in effect (and applied by the Borrowers) immediately before such change in GAAP occurs. If any such notice is given, compliance certificates delivered pursuant to this Agreement after such change shall be accompanied by reconciliations of the difference between the calculation set forth therein and a calculation made in accordance with GAAP as in effect from time to time after such change occurs.
Accounting Terms; Calculations. (a) In any Loan Document, unless specified otherwise, each accounting term has the meaning assigned to it under GAAP.
(b) For greater clarity and unless otherwise specifically provided herein, the consolidated financial results of HudBay prepared in accordance with GAAP shall be used for the purposes of calculating Adjusted Net Income, EBITDA, Interest Expense, Tangible Net Worth and Total Debt (and all components thereof).
Accounting Terms; Calculations. (a) In any Loan Document, unless specified otherwise, each accounting term has the meaning assigned to it under IFRS.
(b) For greater clarity and unless otherwise specifically provided herein, the consolidated financial results of Hudbay prepared in accordance with IFRS shall be used for the purposes of calculating Adjusted Net Income, EBITDA, Consolidated Interest Expense and Tangible Net Worth (and all components thereof). Notwithstanding the foregoing, for the purposes of the Senior Secured Debt to EBITDA Ratio, the consolidated financial results of HBMS prepared in accordance with IFRS shall be used to calculate EBITDA (and all components thereof).
Accounting Terms; Calculations. All accounting and financial terms not specifically defined herein shall be construed in accordance with GAAP as in effect from time to time. In all cases, such accounting and financial terms shall be applied on a basis consistent with those applied in the preparation of consolidated audited financial statements of the Borrower and its consolidated Subsidiaries for the fiscal year ending December 31, 2000 (audited by Artxxx Xxdxxxxx XXP); PROVIDED, HOWEVER, (a) that all financial statements shall reflect the Borrower's adoption of FAS 106 and (b) if any change in GAAP in itself affects the calculation of any financial covenant in Section 8.4 of this Agreement, the Borrower may by written notice to the Administrative Agent, or the Administrative Agent may (and upon request by the Required Lenders shall), by written notice to the Borrower, require that such covenant thereafter be calculated in accordance with GAAP as in effect (and applied by the Borrower) immediately before such change in GAAP occurs. If any such notice is given, the compliance certificates delivered pursuant to Section 8.1(d) of this Agreement after such change occurs shall be accompanied by reconciliations of the difference between the calculation set forth therein and a calculation made in accordance with GAAP as in effect from time to time after such change occurs. The financial statements to be furnished to the Lenders pursuant hereto shall be made and prepared in accordance with GAAP consistently applied throughout the periods involved, except as set forth in the notes thereto or as otherwise disclosed in writing by the Borrower to the Administrative Agent and, in each case, consented to by the Administrative Agent; PROVIDED that, if at any time the computations determining
Accounting Terms; Calculations. (a) All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP, applied in a manner consistent with that used in preparing the Old OpCo Audited Financial Statements for the fiscal year ended December 31, 2010, except as otherwise specifically prescribed herein.
(b) Notwithstanding anything to the contrary herein, (i) for purposes of determining compliance with any financial test or financial covenant contained in this Agreement with respect to any Test Period during which any Specified Transaction occurs (or, for purposes of Sections 2.14, 4.02(d), 6.14(a), 7.02(i)(H), 7.02(n) and 7.03(e) only, thereafter and on or prior to the date of determination), the Total Leverage Ratio and Interest Coverage Ratio shall be calculated with respect to such Test Period and such Specified Transaction on a Pro Forma Basis and (ii) subject to the Pro Forma Basis adjustments described in clause (i), each financial test and financial covenant to be calculated pursuant to this Agreement shall be calculated in conformity with the Pro Forma Financial Statements and the calculations set forth on the Pro Forma Opening Projections. The Administrative Agent shall have the right to request, review and audit all such information it determines necessary to confirm the financial, tax and other business assumptions or determinations made in the calculation of any financial test or financial covenant described in the foregoing clause (ii); provided, that in the event of any dispute between the Borrower and the Administrative Agent regarding such calculations or determinations, such calculations or determinations shall be made by the Borrower’s independent registered public accounting firm or, if such accounting firm does not or cannot make such determination, another independent registered public accounting firm that as of the date of this Agreement is one of the “big four” accounting firms.
(c) Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, without giving effect to any election under Standards Codification 000-00-00 (previously referred to as Statement of Financial Accounting Standards 159) (or any other...
Accounting Terms; Calculations. Subject to Section 13.04, for ------------------------------ ------------- purposes of this Agreement, all accounting terms not otherwise defined herein shall have the meanings assigned to them in conformity with GAAP. For purposes of calculations of all financial covenants pursuant to this Agreement, (i) the Company's interest in OHM and its Subsidiaries prior to the Merger Funding Date shall be accounted for according to the equity method of accounting, (ii) all such calculations shall be adjusted to exclude the impact thereon of the financial performance, assets or liabilities of the Unrestricted Subsidiaries and (iii) the Company's Fiscal Year shall be deemed to have been changed as described in the proviso to Section 9.16
Accounting Terms; Calculations. All accounting and financial terms not specifically defined herein shall be construed in accordance with GAAP as in effect from time to time. In all cases, such accounting and financial terms shall be applied on a basis consistent with those applied in the preparation of consolidated audited financial statements of UNOVA, Inc. and its consolidated Subsidiaries for the Fiscal Year ending December 31, 2003 (audited by Deloitte & Touche LLP); provided, however, if any change in GAAP in itself affects the calculation of any financial covenant set forth in this Agreement, the Borrower Representative may by written notice to the Administrative Agent, or the Administrative Agent may, by written notice to the Borrower Representative, require that such covenant thereafter be calculated in accordance with GAAP as in effect (and applied by UNOVA, Inc.) immediately before such change in GAAP occurs. If any such notice is given, compliance certificates delivered pursuant to this Agreement after such change shall be accompanied by reconciliations of the difference between the calculation set forth therein and a calculation made in accordance with GAAP as in effect from time to time after such change occurs.
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