Common use of Financial Accounting Positions; Tax Reporting Clause in Contracts

Financial Accounting Positions; Tax Reporting. Each of the parties hereto agrees to take reporting and other positions with respect to the Securities which are consistent with the purchase price of the Securities set forth in the 12/31/13 Securities Purchase Agreement and herein for all financial accounting purposes, unless otherwise required by applicable GAAP or Commission rules. If any position inconsistent with the purchase price of the Securities set forth herein is taken, the covenants shall be adjusted to the extent necessary to eliminate any impact caused by such inconsistent position. Each of the parties to this Agreement agrees to take reporting and other positions with respect to the Securities which are consistent with the purchase price of the Securities set forth in the 12/31/13 Securities Purchase Agreement and herein for all other purposes, including for all federal, state and local tax purposes, except as otherwise required by Applicable Law.

Appears in 2 contracts

Samples: Securities Purchase Agreement, Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc)

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Financial Accounting Positions; Tax Reporting. Each of the parties hereto agrees to take reporting and other positions with respect to the Securities which are consistent with the purchase price of the Securities set forth in the 12/31/13 Prior Securities Purchase Agreement and herein Agreements for all financial accounting purposes, unless otherwise required by applicable GAAP or Commission rules. If any position inconsistent with the purchase price of the Securities set forth herein is taken, the covenants shall be adjusted to the extent necessary to eliminate any impact caused by such inconsistent position. Each of the parties to this Agreement agrees to take reporting and other positions with respect to the Securities which are consistent with the purchase price of the Securities set forth in the 12/31/13 Prior Securities Purchase Agreement and herein Agreements for all other purposes, including for all federal, state and local tax purposes, except as otherwise required by Applicable Law.

Appears in 1 contract

Samples: Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc)

Financial Accounting Positions; Tax Reporting. Each of the parties hereto agrees to take reporting and other positions with respect to the Securities which are consistent with the purchase price of the Securities set forth in the 12/31/13 Original Securities Purchase Agreement and herein for all financial accounting purposes, unless otherwise required by applicable GAAP or Commission rules. If any position inconsistent with the purchase price of the Securities set forth herein is taken, the covenants shall be adjusted to the extent necessary to eliminate any impact caused by such inconsistent position. Each of the parties to this Agreement agrees to take reporting and other positions with respect to the Securities which are consistent with the purchase price of the Securities set forth in the 12/31/13 Original Securities Purchase Agreement and herein for all other purposes, including for all federal, state and local tax purposes, except as otherwise required by Applicable Law.

Appears in 1 contract

Samples: Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc)

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Financial Accounting Positions; Tax Reporting. Each of the parties hereto agrees to take reporting and other positions with respect to the Securities which are consistent with the purchase price of the Securities set forth in the 12/31/13 Prior Securities Purchase Agreement Agreements and herein for all financial accounting purposes, unless otherwise required by applicable GAAP or Commission rules. If any position inconsistent with the purchase price of the Securities set forth herein is taken, the covenants shall be adjusted to the extent necessary to eliminate any impact caused by such inconsistent position. Each of the parties to this Agreement agrees to take reporting and other positions with respect to the Securities which are consistent with the purchase price of the Securities set forth in the 12/31/13 Prior Securities Purchase Agreement Agreements, and herein for all other purposes, including for all federal, state and local tax purposes, except as otherwise required by Applicable Law.

Appears in 1 contract

Samples: Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc)

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