Common use of Depreciation Policy Clause in Contracts

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 will not amend or modify the Depreciation Policy depreciation policy in effect on the Closing Date with respect to the Containers and generator sets included in the Borrowing Base, except if any subsequent the resulting depreciation policy shall be in accordance with GAAP and be at least as conservative as the Depreciation Policy 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 will not amend or modify the Depreciation Policy depreciation policy in effect on the Closing Date with respect to the Containers included in the Borrowing Base, except if any subsequent the resulting depreciation policy shall be in accordance with GAAP and be at least as conservative as the Depreciation Policy 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.