Operating Lease Treatment. 29 Section 4.26 Rent Adjustments ............................................ 29
Operating Lease Treatment. For purposes of calculations made pursuant to the terms of this Agreement, GAAP will be deemed to treat operating leases in a manner consistent with their current treatment under generally accepted accounting principles as in effect on the Closing Date, notwithstanding any modifications or interpretive changes thereto that may occur thereafter.
Operating Lease Treatment. Landlord reserves the right to modify the terms of this Lease from time to time, solely to achieve operating lease treatment with respect to Landlord, provided such modifications will not be adverse to Tenant or Tenant’s accounting treatment in any material respect.
Operating Lease Treatment. Notwithstanding the forgoing or any provision herein to the contrary, any lease that was, or would have been, characterized as an operating lease in accordance with GAAP prior to the Borrower’s adoption of FASB ASC 842 (regardless of the date on which such lease has been entered into) shall not be a capital or finance lease, and any such lease shall be, for all purposes of this Agreement, treated as though it were reflected on the Borrower’s consolidated financial statements in the same manner as an operating lease would have been reflected prior to the Borrower’s adoption of FASB ASC 842.
Operating Lease Treatment. Notwithstanding any other provision contained herein, any lease that would have been characterized as an operating lease in accordance with GAAP prior to the date of the Company’s adoption of ASC 842 (whether or not such lease was in effect on such date) shall not be a capital or finance lease, and any such lease shall be, for all purposes of this Agreement, treated as though it were reflected on the Company’s consolidated financial statements in the same manner as an operating lease would have been reflected prior to Company’s adoption of ASC 842.
Operating Lease Treatment. The Company shall have determined that the Facility Lease qualifies as an operating lease (subject to any Rent adjustments pursuant to the Operative Documents that may be applied on the Lease Commencement Date) under GAAP, including FAS 13.
