Common use of Change in Accounting Clause in Contracts

Change in Accounting. The Company will not and will not permit any Subsidiary to, change its method of accounting except for (a) changes permitted by GAAP in which the Company's auditors concur, (b) changes with respect to any Person or assets acquired by the Company to conform with the Company's policies and procedures and which are permitted by GAAP or (c) changes required by GAAP. The Company shall advise the Agent in writing promptly upon making any material change to the extent same is not disclosed in the financial statements required under SECTION 7.01 hereof. In the event of any such change, the Company, the Banks and the Agent agree to negotiate amendments to SECTIONS 8.10 through 8.14 hereof (and related definitions, if relevant) so as to equitably reflect such changes thereon with the intended result that the criteria for evaluating the financial condition of the Company and its Subsidiaries shall be substantially the same after such changes as before.

Appears in 2 contracts

Samples: Credit Agreement (Comfort Systems Usa Inc), Credit Agreement (Comfort Systems Usa Inc)

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Change in Accounting. The Company will not and will not permit any Subsidiary to, change its method of accounting except for (a) changes permitted by GAAP in which the Company's auditors concur, (b) changes with respect to any Person or assets acquired by the Company to conform with the Company's policies and procedures and which are permitted by GAAP or (c) changes required by GAAP. The Company shall advise the Agent in writing promptly upon making any material change to the extent same is not disclosed in the financial statements required under SECTION 7.01 Section 6.01 hereof. In the event of any such change, the Company, the Banks and the Agent agree to negotiate amendments to SECTIONS 8.10 Sections 7.11 through 8.14 7.18 hereof (and related definitions, if relevant) so as to equitably reflect such changes thereon with the intended result that the criteria for evaluating the financial condition of the Company and its Subsidiaries shall be substantially the same after such changes as before.

Appears in 2 contracts

Samples: Credit Agreement (Group Maintenance America Corp), Credit Agreement (Group Maintenance America Corp)

Change in Accounting. The Company will not and will not permit any Subsidiary to, change its method of accounting except for (a) changes permitted by GAAP in which the Company's auditors concur, (b) changes with respect to any Person or assets acquired by the Company to conform with the Company's policies and procedures and which are permitted by GAAP or (c) changes required by GAAP. The Company shall advise the Agent in writing promptly upon making any material change to the extent same is not disclosed in the financial statements required under SECTION 7.01 Section 6.01 hereof. In the event of any such change, the Company, the Banks and the Agent agree to negotiate amendments to SECTIONS 8.10 Sections 7.10 through 8.14 7.14 hereof (and related definitions, if relevant) so as to equitably reflect such changes thereon with the intended result that the criteria for evaluating the financial condition of the Company and its Subsidiaries shall be substantially the same after such changes as before.

Appears in 1 contract

Samples: Credit Agreement (Group Maintenance America Corp)

Change in Accounting. The Company will not and will not permit any Subsidiary to, change its method of accounting except for (a) changes permitted by GAAP in which the Company's auditors concur, (b) changes with respect to any Person or assets acquired by the Company to conform with the Company's policies and procedures and which are permitted by GAAP or (c) changes required by GAAP. The Company shall advise the Agent in writing promptly upon making any material change to the extent same is not disclosed in the financial statements required under SECTION 7.01 Section 6.01 hereof. In the event of any such change, the Company, the Banks and the Agent agree to negotiate amendments to SECTIONS 8.10 Sections 7.10 through 8.14 7.18 hereof (and related definitions, if relevant) so as to equitably reflect such changes thereon with the intended result that the criteria for evaluating the financial condition of the Company and its Subsidiaries shall be substantially the same after such changes as before.

Appears in 1 contract

Samples: Credit Agreement (Group Maintenance America Corp)

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Change in Accounting. The Company will not and will not permit any Subsidiary to, change its method of accounting except for (a) changes permitted by GAAP in which the Company's auditors concur, (b) changes with respect to any Person or assets acquired by the Company to conform with the Company's policies and procedures and which are permitted by GAAP or (c) changes required by GAAP. The Company shall advise the Agent in writing promptly upon making any material change to the extent same is not disclosed in the financial statements required under SECTION 7.01 6.01 hereof. In the event of any such change, the Company, at the Banks and request of the Agent agree Majority Banks, agrees to negotiate amendments to SECTIONS 8.10 7.10 through 8.14 7.14 hereof (and related definitions, if relevant) so as to equitably reflect such changes thereon with the intended result that the criteria for evaluating the financial condition of the Company and its Subsidiaries shall be substantially the same after such changes as before.

Appears in 1 contract

Samples: Credit Agreement (Apple Orthodontix Inc)

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