Definition of GAAP. The definition of “
Definition of GAAP. GAAP. Except as otherwise provided herein, principles that are (i) consistent with the principles promulgated or adopted by the Financial Accounting Standards Board and its predecessors and successors, as in effect from time to time, and (ii) consistently applied with past financial statements of each Borrower, each Guarantor and their respective Subsidiaries adopting the same principles, provided that in each case referred to in this definition of “GAAP” a certified public accountant would, insofar as the use of such accounting principles is pertinent, be in a position to deliver an unqualified opinion (other than qualifications regarding changes in GAAP and as to normal year-end adjustments) as to financial statements in which such principles have been properly applied. Annex D
Definition of GAAP. Section 1.01 of the Credit Agreement is hereby amended by adding the following sentence to the end of the definition of “GAAP”: “Upon written notice to the Administrative Agent, the Borrowers may elect to prepare their financial statements in accordance with U.S. GAAP and such election shall be treated as a “change in GAAP” under the foregoing provisos of this definition.”
Definition of GAAP. The definition of “GAAP” in Section 1.1 of the Credit Agreement is amended by inserting the following sentence immediately following the first sentence thereof: “Notwithstanding the foregoing, for purposes of determining compliance with the financial covenants set forth in Article IX, Borrower shall continue to use the “economic share percentages” methodology that was in use on the Closing Date to calculate its proportionate share of Minority Holdings instead of the “hypothetical liquidation at book value” methodology.”
Definition of GAAP. Section 1.01 of the Indenture is amended by deleting the text of the definition of “GAAP” in its entirety and replacing it with the following:
Definition of GAAP. A new clause shall be added at the end of the definition of "GAAP" contained within Article I of the Stock Purchase Agreement: "; provided that for purposes of preparing the Audited Financial Statements, the Closing Balance Sheet and the Earn-Out Financial Statements, the GAAP to be applied shall be that used in preparing the audited financial statements of the Companies for the year ended December 31, 2000."
Definition of GAAP. The definition of GAAP set forth at Schedule 1.1 of the Existing Credit Agreement is hereby amended by adding the following language to the end of such definition: "From and after the effective date of the DIP Loan Agreement, GAAP shall be determined on the basis of such principles in effect on the date of the DIP Loan Agreement and consistent with those used in the preparation of the most recent audited financial statements delivered to DIP Agent prior to such effective date thereof."
Definition of GAAP. The definition of GAAP set forth at Section 1.42 of the Loan Agreement is hereby amended by adding the following language to the end of such definition: “except that, for purposes of Sections 9.20 and 9.21 hereof, GAAP shall be determined on the basis of such principles in effect on the date of the Ratification Agreement and consistent with those used in the preparation of the most recent audited financial statements delivered to Agent prior to the date hereof.”
Definition of GAAP. The definition of “GAAP” in Section 1.01 of the Credit Agreement is hereby amended by adding the following at the end of such definition: “Notwithstanding the foregoing, the parties hereto agree that (i) for purposes of the determination of lease obligations of the Loan Parties hereunder, such determination shall be made without regard to any changes to GAAP resulting from the adoption of IFRS 16, and (ii) the Borrowers shall not be required to furnish to the Administrative Agent and the Lenders a reconciliation between the calculation of the financial covenants or other requirements made before and giving after effect to the adoption of IFRS 16.”
Definition of GAAP. The definition of "GAAP" in Section 1.1 is amended in its entirety to read as follows:
