Common use of Change in Accounting Clause in Contracts

Change in Accounting. The Company will not change its method of accounting except for (a) immaterial changes permitted by GAAP in which the Company's auditors concur or (b) changes required by GAAP; provided that the Company and the Agent shall negotiate in good faith, to renegotiate any affected provision of this Agreement to reflect any such change. The Company shall advise the Agent and the Lenders 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.

Appears in 1 contract

Samples: Credit Agreement (Texas Petrochemical Holdings Inc)

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Change in Accounting. The Company will not change its method of accounting except for (a) immaterial changes permitted by GAAP in which the Company's auditors concur or (b) changes required by GAAP; provided that the Company and the Agent shall negotiate in good faith, to renegotiate any affected provision of this Agreement to reflect any such change. The Company shall advise notify the Agent and the Lenders 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.

Appears in 1 contract

Samples: Senior Secured Facility Agreement (Axia Inc)

Change in Accounting. The Company will not, and will not permit any Subsidiary to, change its method of accounting except for (a) immaterial changes permitted by GAAP in which the Company's auditors concur or (b) changes required by GAAP; provided that the Company and the Agent shall negotiate in good faith, to renegotiate any affected provision of this Agreement to reflect any such change. The Company shall advise the Agent and the Lenders Lender 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.

Appears in 1 contract

Samples: Revolving Credit Agreement (Firstcity Financial Corp)

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Change in Accounting. The Company will not change its method of accounting except for (a) immaterial changes permitted by GAAP in which the Company's auditors concur or (b) changes required by GAAP; provided that the Company and the Agent shall negotiate in good faith, to renegotiate any affected provision of this Agreement to reflect any such change. The Company shall advise the Agent and the Lenders Lender 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.

Appears in 1 contract

Samples: Loan Agreement (Firstcity Financial Corp)

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