Depreciation Policy Sample Clauses
A Depreciation Policy clause defines how the value of assets will be reduced over time for accounting or contractual purposes. It typically outlines the methods used to calculate depreciation, such as straight-line or declining balance, and specifies which assets are subject to these rules. By establishing a clear approach to asset valuation, this clause ensures consistency in financial reporting and helps prevent disputes over asset worth during the contract term.
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Depreciation Policy. The Depreciation Policy used in the calculation of the Asset Base as in effect on the Closing Date is attached as Exhibit J hereto.
Depreciation Policy. The Borrower will not amend or modify the Depreciation Policy in effect on the Closing Date with respect to the Containers included in the Borrowing Base, except if any subsequent depreciation policy shall be in accordance with GAAP and be at least as conservative as the Depreciation Policy in effect on the Closing Date (e.g., use of such depreciation policy would result in (a) a higher annual amount of depreciation or (b) a lower estimated residual value) and is otherwise in accordance with GAAP.
Depreciation Policy. The Borrower shall, in the event of any change to its depreciation policy in relation to any of its financial statements, notify the Lender of such change and procure that its auditors deliver to the Lender a description of any changes necessary for those financial statements to reflect the depreciation policy upon which the Original Financial Statements were prepared.
Depreciation Policy. (a) The UK Administrative Borrower or US Administrative Borrower, as applicable, shall notify Agent in writing 15 Business Days before any UK Borrower or any US Borrower, as applicable, amends, supplements or replaces its Depreciation Policy.
(b) On receipt of any notice in accordance with Section 5.23(a) above, Agent and the UK Borrowers or the US Borrowers, as applicable shall recalculate the net book value of Eligible UK Rolling Stock Collateral of the UK Borrowers or Eligible US Rolling Stock Collateral of the US Borrowers, as applicable, taking into account the new Depreciation Policy and the UK Administrative Borrower or the US Administrative Borrower, as applicable, shall, on request by Agent, supply a valuation in order to make such recalculation.
Depreciation Policy. The depreciation method utilized in calculating the Net Book Value of such Engine as of such Transfer Date is the Depreciation Policy;
Depreciation Policy. The Issuer will not, without the prior written consent of the Requisite Global Majority in each instance, amend or modify the depreciation policy in effect on the Closing Date as outlined in clause (i) of the definition of the term “Depreciation Expense”.
Depreciation Policy. The depreciation policy set forth as Exhibit A hereto, as it may be amended from time to time in accordance with the Indenture and the Related Documents. If a type of Container is not included on Exhibit A on the Closing Date of the initial Series of Notes, such Container type and the corresponding depreciation life for such type of Containers may be added to such depreciation policy upon satisfaction of the Rating Agency Condition.
Depreciation Policy. One of the following: (i) the depreciation policy set forth on Exhibit F hereto, or (ii) such other subsequent depreciation policy that is utilized by the Borrower, or if the context so requires, the Seller, so long as any such subsequent depreciation policy complies with GAAP and is at least as conservative as the depreciation policy set forth in clause (i) above (e.g., use of depreciation policy would result in (a) a higher annual amount of depreciation or (b) a lower estimated residual value).
Depreciation Policy. The depreciation policy utilized by the Borrowers with respect to the Containers, which policy as of the Closing Date is attached as Exhibit H hereto.
Depreciation Policy. Without the prior written consent of all of the Lenders, the Borrower shall not revise the Depreciation Policy in a manner inconsistent with the definition of “Depreciation Policy”.