Accounting Principles; Changes in GAAP definition

Accounting Principles; Changes in GAAP. Except as otherwise provided in this Agreement, all computations and determinations as to accounting or financial matters and all financial statements to be delivered pursuant to this Agreement shall be made and prepared in accordance with GAAP (including principles of consolidation where appropriate), and all accounting or financial terms shall have the meanings ascribed to such terms by GAAP as in effect on the Closing Date applied on a basis consistent with those used in preparing the Statements referred to in Section 6.6(a). Notwithstanding the foregoing, if at any time any change in GAAP (including the adoption of IFRS) would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (a) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (b) the Borrower shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP. Without limiting the foregoing, leases shall continue to be classified and accounted for on a basis consistent with that reflected in the Statements referred to in Section 6.6(a) for all purposes of this Agreement, notwithstanding any change in GAAP relating thereto, unless the parties hereto shall enter into a mutually acceptable amendment addressing such changes, as provided for above.
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Examples of Accounting Principles; Changes in GAAP in a sentence

  • GAAP shall mean generally accepted accounting principles as are in effect from time to time, subject to the provisions of Section 1.3 [Accounting Principles; Changes in GAAP], and applied on a consistent basis both as to classification of items and amounts.

  • CERTAIN DEFINITIONS 1 1.1 Certain Definitions 1 1.2 Construction 30 1.3 Accounting Principles; Changes in GAAP 30 1.4 Benchmark Replacement Notification; Rates.

  • All corresponding descriptive statistics that are<LLOQ will be reported as “<20” in summary tables.

  • Unless future studies can identify species which, with respect to Mo, precipitate their skeletons in equilibrium with ocean water or at least show a constant biogenic fractionation, skeletal carbonates cannot be a reliable ocean water proxy.

  • GAAP shall mean generally accepted accounting principles as are in effect from time to time, subject to the provisions of Section 1.4 [Accounting Principles; Changes in GAAP], and applied on a consistent basis both as to classification of items and amounts.

  • CERTAIN DEFINITIONS 1 Section 1.1 Certain Definitions 1 Section 1.2 Construction 2932 Section 1.3 Accounting Principles; Changes in GAAP 2933 Section 1.4 Divisions 3033 SECTIONSection 1.5 Term SOFR Notification 33 Section 2.

  • CERTAIN DEFINITIONS 1 1.1 Certain Definitions 1 1.2 Construction 46 1.3 Accounting Principles; Changes in GAAP 46 1.4 Currency Conditions 47 1.5 Limitation on Liability of UK Borrower and UK Guarantors 47 1.6 Limitation on Liability of iGo 48 1.7 Quebec Interpretation 49 2.

  • GAAP shall mean U.S. generally accepted accounting principles as are in effect from time to time, subject to the provisions of Section 1.3 [Accounting Principles; Changes in GAAP], and applied on a consistent basis both as to classification of items and amounts.

  • CERTAIN DEFINITIONS 1 1.1 Certain Definitions 1 1.2 Construction 40 1.3 Accounting Principles; Changes in GAAP 40 1.4 Currency Calculations 41 1.5 Divisions 41 1.6 Benchmark Replacement Notification 41 2.

Related to Accounting Principles; Changes in GAAP

  • Accounting Principles means the international financial reporting standards (IFRS) within the meaning of Regulation 1606/2002/EC (or as otherwise adopted or amended from time to time).

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.

  • Applicable Accounting Principles means, with respect to the Borrower, those accounting principles required by the ICA and prescribed by the SEC for the Borrower and, to the extent not so required or prescribed, GAAP.

  • Agreed Accounting Principles means GAAP; provided, however, that, with respect to any matter as to which there is more than one generally accepted accounting principle, Agreed Accounting Principles means the generally accepted accounting principles consistently applied in the preparation of the Latest Audited Company Balance Sheet; provided, further, that, for purposes of the Agreed Accounting Principles, no known adjustments for items or matters, regardless of the amount thereof, shall be deemed to be immaterial.

  • U.S. GAAP means United States generally accepted accounting principles consistently applied.

  • GAAP means generally accepted accounting principles in the United States of America.

  • Generally Accepted Accounting Principles or “GAAP” means generally accepted accounting principles in the United States, consistently applied, which are in effect on the date of this Indenture.

  • IFRS means International Financial Reporting Standards as issued by the International Accounting Standards Board.

  • UK generally accepted accounting principles and practices means the principles and practices prevailing from time to time in the United Kingdom which are generally regarded as permissible or legitimate by the accountancy profession irrespective of the degree of use.

  • Accounting Policies means the accounting policies and procedures set out in Part C of Schedule 4 (Accounting Policies);

  • PRC GAAP means the generally accepted accounting principles in the PRC.

  • Fixed GAAP Date means the Issue Date; provided that at any time after the Issue Date, the Company may by written notice to the Trustee elect to change the Fixed GAAP Date to be the date specified in such notice, and upon such notice, the Fixed GAAP Date shall be such date for all periods beginning on and after the date specified in such notice.

  • Canadian GAAP means Generally Accepted Accounting Principles as provided in the Handbook of the Canadian Institute of Chartered Accountants.

  • Mexican GAAP means generally accepted accounting principles in Mexico in effect on the Issue Date.

  • Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.

  • Accounting system means the Contractor's system or systems for accounting methods, procedures, and controls established to gather, record, classify, analyze, summarize, interpret, and present accurate and timely financial data for reporting in compliance with applicable laws, regulations, and management decisions, and may include subsystems for specific areas such as indirect and other direct costs, compensation, billing, labor, and general information technology.

  • Accounting Statement means for each financial year, the following statements, namely-

  • Brazilian GAAP means, collectively, the accounting principles prescribed by Brazilian Corporate Law, the rules and regulations issued by applicable regulators, including the CVM, as well as the technical releases issued by the Brazilian Institute of Accountants (Instituto Brasileiro de Contadores), in each case as in effect from time to time.

  • International Accounting Standards means the accounting standards approved by the International Accounting Standards Board from time to time.

  • Accounting Manual means the latest version of the document titled “Accounting for Parents and Citizens Associations” that is published by the Department of Education as amended from time to time.

  • Fixed GAAP Terms (a) the definitions of the terms “Capitalized Lease Obligation,” “Consolidated Depreciation and Amortization Expense,” “Consolidated Interest Expense,” “Consolidated Net Income,” “Consolidated Tangible Assets,” “Consolidated Working Capital,” “EBITDA,” “ECF CNI,” “Excess Cash Flow,” “Fixed Charge Coverage Ratio,” “Fixed Charges,” “Funded Debt,” “Indebtedness,” “Investments,” “Net Income,” “Senior Secured Indebtedness” and “Senior Secured Indebtedness to EBITDA Ratio,” (b) all defined terms in this Agreement to the extent used in or relating to any of the foregoing definitions, and all ratios and computations based on any of the foregoing definitions, and (c) any other term or provision of this Agreement or the other Loan Documents that, at the Borrower’s election, may be specified by the Borrower by written notice to the Administrative Agent from time to time.

  • UK GAAP means generally accepted accounting principles in the United Kingdom.

  • Accounting Standards means the standards of accounting or any addendum thereto for companies or class of companies referred to in section 133;

  • Accounting Standard means GAAP.

  • Accounting Date means, with respect to any Collection Period the last day of such Collection Period.

  • Generally accepted auditing standards means Canadian Generally Accepted Auditing Standards as adopted by the Canadian Institute of Chartered Accountants applicable as of the date on which such record is kept or required to be kept in accordance with such standards.