Common use of Consolidation of Variable Interest Entities and other Persons Clause in Contracts

Consolidation of Variable Interest Entities and other Persons. All references herein to consolidated financial statements of the Borrower and its Subsidiaries or to the determination of any amount for the Borrower and its Subsidiaries on a consolidated basis or any similar reference shall, in each case, be deemed to include each variable interest entity that the Borrower is required to consolidate pursuant to FASB ASC 810 as if such variable interest entity were a Subsidiary as defined herein. All references herein to consolidated financial statements (but not to elements of financial statements used to calculate financial covenants or similar provisions) of the Borrower and its Subsidiaries shall include any Person (including Spinco and its Subsidiaries) whose financial statements are consolidated with the financial statements of the Borrower in accordance with GAAP.

Appears in 2 contracts

Samples: Credit Agreement (BWX Technologies, Inc.), Credit Agreement (Babcock & Wilcox Co)

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Consolidation of Variable Interest Entities and other Persons. All references herein to consolidated financial statements of the Administrative Borrower and its Restricted Subsidiaries or to the determination of any amount for the Administrative Borrower and its Subsidiaries on a consolidated basis or any similar reference shall, in each case, be deemed to include each variable interest entity that the Administrative Borrower is required to consolidate pursuant to FASB ASC 810 as if such variable interest entity were a Subsidiary as defined herein. All references herein to consolidated financial statements (but not to elements of financial statements used to calculate financial covenants or similar provisions) of the Administrative Borrower and its Subsidiaries shall include any Person (including Spinco and its Subsidiaries) whose financial statements are consolidated with the financial statements of the Administrative Borrower in accordance with GAAP.

Appears in 2 contracts

Samples: Credit Agreement (BWX Technologies, Inc.), Credit Agreement (BWX Technologies, Inc.)

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Consolidation of Variable Interest Entities and other Persons. All references herein to consolidated financial statements of the Borrower and its Restricted Subsidiaries or to the determination of any amount for the Borrower and its Subsidiaries on a consolidated basis or any similar reference shall, in each case, be deemed to include each variable interest entity that the Borrower is required to consolidate pursuant to FASB ASC 810 as if such variable interest entity were a Subsidiary as defined herein. All references herein to consolidated financial statements (but not to elements of financial statements used to calculate financial covenants or similar provisions) of the Borrower and its Subsidiaries shall include any Person (including Spinco and its Subsidiaries) whose financial statements are consolidated with the financial statements of the Borrower in accordance with GAAP.

Appears in 1 contract

Samples: Credit Agreement (BWX Technologies, Inc.)

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