Common use of Changes in Accounting Principles Clause in Contracts

Changes in Accounting Principles. If any changes in accounting principles from those used in the preparation of the financial statements referred to in this Agreement are hereafter occasioned by the promulgation of rules, regulations, pronouncements or opinions of or required by the FASB or the American Institute of Certified Public Accountants (or successors thereto or agencies with similar functions), or there will occur any change in Borrower's fiscal or tax years and, as a result of any such changes, there will result in a change in the method of calculating any of the financial covenants, negative covenants, standards, or other terms or conditions found in this Agreement, then the parties hereto agree to enter into negotiations in order to amend such provisions so as to equitably reflect such changes with the desired result that the criteria for evaluating Borrower's financial condition will be the same after such changes as if such changes had not been made.

Appears in 4 contracts

Samples: Credit Agreement (Mueller Industries Inc), Credit Agreement (Spartan Stores Inc), Credit Agreement (Mueller Industries Inc)

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Changes in Accounting Principles. If any changes in generally -------------------------------- accepted accounting principles from those used in after the preparation date of the financial statements referred to in this Agreement are hereafter occasioned by result from the promulgation of rules, regulations, pronouncements pronouncements, or opinions of, or the imposition of or required by requirements by, the FASB Financial Accounting Standards Board or the American Institute of Certified Public Accountants (or successors thereto or agencies with similar functions), or there will shall occur any change in BorrowerCI's fiscal or tax years and, as a result of any such changes, there will shall result in a change in the method of calculating any of the financial covenants, negative covenants, standards, standards or other terms or conditions found in this Agreement, then the parties hereto agree to enter into negotiations in order to amend such provisions so as to equitably reflect such changes with the desired result that the criteria for evaluating Borrower's the Borrowers' financial condition will shall be the same after such changes as if such changes had not been made.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Cotelligent Inc)

Changes in Accounting Principles. If any changes in generally accepted accounting principles from those used in after the preparation date of the financial statements referred to in this Agreement are hereafter occasioned by result from the promulgation of rules, regulations, pronouncements pronouncements, or opinions of, or the imposition of or required by requirements by, the FASB Financial Accounting Standards Board or the American Institute of Certified Public Accountants (or successors thereto or agencies with similar functions), or there will shall occur any change in the Borrower's fiscal or tax years and, as a result of any such changes, there will shall result in a change in the method of calculating any of the financial covenants, negative covenants, standards, standards or other terms or conditions found in this Agreement, then the parties hereto agree to enter into negotiations in order to amend such provisions so as to equitably reflect such changes with the desired result that the criteria for evaluating Borrower's the Borrowers' financial condition will shall be the same after such changes as if such changes had not been made.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Cotelligent Group Inc)

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Changes in Accounting Principles. If any changes in generally accepted accounting principles from those used in after the preparation date of the financial statements referred to in this Agreement are hereafter occasioned by result from the promulgation of rules, regulations, pronouncements pronouncements, or opinions of, or the imposition of or required by requirements by, the FASB Financial Accounting Standards Board or the American Institute of Certified Public Accountants (or successors thereto or agencies with similar functions), or there will shall occur any change in the Borrower's fiscal or tax years and, as a result of any such changes, there will shall result in a change in the method of calculating any of the financial covenants, negative covenants, standards, standards or other terms or conditions found in this Agreement, then the parties hereto agree to enter into negotiations in order to amend such provisions so as to equitably reflect such changes with the desired result that the criteria for evaluating the Borrower's financial condition will shall be the same after such changes as if such changes had not been made.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Informix Corp)

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