Application of GAAP. Except as otherwise provided in this ----------- -- ---- Agreement, the Trailing Cash Flow will be determined in accordance with GAAP.
Application of GAAP. Except as otherwise provided in this Agreement, the Adjustment Amount will be determined in accordance with GAAP.
Application of GAAP. Subsection 1.2(b) is hereby amended and restated to read as follows:
Application of GAAP. Where the character or amount of any asset or liability or item of income or expense is required, to be determined or any consolidation or other accounting computation is required to be made for the purpose of this Guaranty, the same shall be done in accordance with generally accepted accounting principles, to the extent applicable, except where such principles are inconsistent with the requirements of this Guaranty or those of the Loan Agreement.
Application of GAAP. All financial statements herein shall, unless otherwise provided, be interpreted in accordance with generally accepted accounting principles, consistently applied and, if the Borrower shall have, or, at any time hereafter shall acquire any Subsidiary, on both a consolidated, or combined basis, as applicable, and an unconsolidated basis.
Application of GAAP. All determinations pursuant to this Section 1.6.1 shall be made in accordance with GAAP.
Application of GAAP. 13 5.4 Audits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 6. Obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14
Application of GAAP. The calculation of royalties and other amounts payable by SuperGen to Inflazyme under this Agreement will be carried out in accordance with GAAP. If, upon conducting an audit of SuperGen's records pursuant to Section 5.4 below, Inflazyme determines that: (a) the calculation of Net Sales or the royalties and other money paid to SuperGen by its sublicensees was not determined in accordance with GAAP; and (b) the deviation from GAAP resulted in more than a ten percent (10%) underpayment of royalties or other amounts payable to Inflazyme under this Agreement during the period under review, then SuperGen will pay for Inflazyme's reasonable expenses for conducting the audit as well as paying the deficiency in such royalties and other amounts due to Inflazyme as shown by the audit.
Application of GAAP. To the extent not inconsistent with the express provisions of this Agreement, the allocations made pursuant to this Subsection 1.7(e) shall be made in accordance with GAAP.
Application of GAAP. 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 Lender, unless with respect to any such change concurred in by the Borrower's independent public accountants or required 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 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 objection is made in respect of the first financial statements delivered under Section 5.1, means the financial statements referred to in Section 4.4).
