Common use of Conformance of Financial Statements Clause in Contracts

Conformance of Financial Statements. Subject to the other terms in this Agreement, the Company shall not make or adopt any significant changes to its accounting estimates or accounting policies and principles from those in effect on the Effective Date to the extent that such changes would significantly impact Roivant’s financial statements. Notwithstanding the previous sentence, nothing in this Agreement shall prevent the Company making those changes to its accounting estimates or accounting policies and principles if such changes are required by GAAP or which the audit committee of the Company determines are necessary or appropriate for the proper presentation of the Company’s financial statements; provided, however, that the Company shall first consult with Roivant.

Conformance of Financial Statements. Subject to the other terms in this Agreement, the Company shall not make or adopt any significant changes to its accounting estimates or accounting policies and principles from those in effect on the Effective Date to the extent that such changes would significantly impact RoivantSumitovant’s financial statements. Notwithstanding the previous sentence, nothing in this Agreement shall prevent the Company from making those changes to its accounting estimates or accounting policies and principles if such changes are required by GAAP or which the audit committee of the Company Audit Committee determines are necessary or appropriate for the proper presentation of the Company’s financial statements; provided, however, that the Company shall first consult with RoivantSumitovant.