Changes in Business and Fiscal Year. Each Loan Party will not, and will not permit any of its Subsidiaries to:
(a) engage in any business activity other than the Business;
(b) modify or change its fiscal year to end other than on December 31 of each year; or
(c) modify or change its method of accounting in any material respect except (i) in connection with the GAAP Election and (ii) as otherwise may be required to conform to Applicable Accounting Standards.
Changes in Business and Fiscal Year.
(a) Each Credit Party will not, and will not permit any of its Subsidiaries to modify or change its method of accounting (other than (i) as may be required to conform to GAAP or (ii) to the extent consented to by Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed).
Changes in Business and Fiscal Year. (a) Each Credit Party will not, and will not permit any of its Subsidiaries to (i) engage in any business activity other than the Business; or (ii) modify or change its fiscal year or its method of accounting other than (x) a change in the method of accounting in connection with a Change in Accounting Principles; (y) as may be required to conform to IFRS or (z) to the extent consented to by the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed).
(b) No Credit Party, Affiliate of a Credit Party, Individual Guarantor or any officer or stockholder of a Credit Party or an Affiliate of a Credit Party shall engage in the Business except through the Credit Parties, their Subsidiaries and, to the extent substantially consistent with their operations as of the Restatement Date, the Opcos.
Changes in Business and Fiscal Year. (a) No Credit Party shall (or shall permit any Subsidiaries (other than any Excluded TerrAscend Subsidiary) to) (i) engage in any business activity directly other than any Support Business,
Changes in Business and Fiscal Year. Each Loan Party will not, and will not permit any of its Subsidiaries to:
(a) engage in any business activity other than the Business;
(b) modify or change its fiscal year to end other than on December 31 of each year;
(c) modify or change its method of accounting in any material respect except as may be required to conform to GAAP; or
(d) modify or change its revenue and expense recognition policies, including any assumptions or estimates used in determining revenues and expenses in connection with such policies, unless, prior to implementing any such changes, it shall have provided, or shall have caused its auditors to provide, to the Administrative Agent and the Lenders reasonable supporting documentation for such changes.
Changes in Business and Fiscal Year. Each Credit Party will not, and will not permit any of its Subsidiaries to:
(a) engage in any business activity other than such business activities described on Schedule 9.12 and business activities incidental or reasonably related thereto;
(b) modify or change its fiscal year or its method of accounting (other than (i) as may be required to conform to GAAP or (ii) to the extent consented to by the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed); or
(c) permit Asesores or ET Mexico to own any material assets, have or generate any material revenues and or conduct any material business activities.
Changes in Business and Fiscal Year. (a) Each Credit Party will not, and will not permit any of its Subsidiaries to (i) engage in any business activity other than the Business; or (ii) modify or change its fiscal year or its method of accounting other than (x) as may be required to conform to GAAP or (y) to the extent consented to by the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed).
(b) No Credit Party, Affiliate of a Credit Party, Individual Guarantor or any officer or stockholder of a Credit Party or an Affiliate of a Credit Party shall engage in the Business except through the Credit Parties, their Subsidiaries and, to the extent substantially consistent with their operations as of the Closing Date, the OpCos.
(c) No Credit Party shall permit any Subsidiary that is not a Credit Party to materially compete with any other Credit Party. No Credit Party will engage, nor will such Credit Party fail to use commercially reasonable efforts to prevent any Opco from engaging, in the Business in any State of the United States except for such State in which such Credit Party or Opco was engaged on the Closing Date or (x) with respect to any Credit Party joining this Agreement after the Closing Date, the State such Credit Party was engaged on the date of such joinder, and (y) with respect to any Opco formed after the Closing Date, the State such Opco was engaged on the date of such formation, as applicable.
Changes in Business and Fiscal Year. Each Credit Party will not, and will not permit any of its Subsidiaries to:
(a) engage in any business activity other than such business activities described on Schedule 9.12 and business activities incidental or reasonably related thereto; or
(b) modify or change its fiscal year or its method of accounting (other than (i) as may be required to conform to GAAP, or (ii) to the extent consented to by the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed)). [***] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.
Changes in Business and Fiscal Year. No Credit Party shall (or shall permit any Subsidiaries to) (i) engage in any business activity directly other than any Support Business, (ii) engage in any business activity indirectly other than any Cannabis Business, and then only through a Licensing Entity, or (iii) modify or change its fiscal year or its method of accounting (other than (A) following the consummation of the TerrAscend Transaction, to migrate from IFRS to GAAP so long as the Credit Parties give the Administrative Agent written notice of the effective date of such migration, (B) as may be required to conform to Applicable Accounting Standards or (C) to the extent consented to by Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed).
Changes in Business and Fiscal Year. Each Credit Party will not, and will not permit any of its Subsidiaries to:
(a) engage in any business activity other than such business activities described on Schedule 9.12 and business activities incidental or reasonably related thereto;
(b) modify or change its fiscal year or its method of accounting (other than (i) as may be required to conform to GAAP or (ii) to the extent consented to by the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed); or
(c) permit Asesores to own any material assets, have or generate any material revenues and or conduct any material business activities.
