Adjusted GAAP definition

Adjusted GAAP at any time means GAAP in effect at such time as if IFRS 16 had not been implemented.

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Adjusted GAAP means generally accepted accounting principles, consistently applied, (i) using the same accounting methods, policies, practices, procedures, with consistent classification, judgments, estimation methodology, as were used by the Company in preparing the December 31, 2000 balance sheet of the Company, (ii) without taking into account the pay-off of the AWCC Debt and any changes in circumstances or events occurring after the opening of business on the Closing Date and (iii) after giving effect to the elimination of intercompany payables and receivables pursuant to Section 5.14.

Adjusted GAAP the meaning specified in Subsection 7.3.3(b)(i) (Additional Provisions Respecting Calculation of Financial Covenants).

Examples of Adjusted GAAP in a sentence

• The Company has established on its books and records adequate reserves for all Taxes and for any liability for deferred income taxes in accordance with Adjusted GAAP.

• The amounts settled shall, to the extent applicable, be calculated in accordance with Adjusted GAAP.

• If Closing Date GAAP has already been adjusted to be Adjusted GAAP at the time of any such request and if the Majority Lenders agree to such further adjustments, then Adjusted GAAP shall thereafter be deemed to incorporate such further adjustments.

• If Closing Date GAAP has already been adjusted to be Adjusted GAAP at the time of any such request and if the Agent (or Requisite Lenders) agrees to such further adjustments, then Adjusted GAAP shall thereafter be deemed to incorporate such further adjustments.

• If the Absolute Performance Goal is achieved, the next Performance Measure shall be BB&T Adjusted GAAP ROCE relative to the average, by company, return on shareholders’ common equity, determined in accordance with United States generally accepted accounting principles, achieved by each company, as adjusted by BB&T, of the Peer Group during the Performance Period (“Peer Group Adjusted GAAP ROCE”).

More Definitions of Adjusted GAAP

Adjusted GAAP means, except as otherwise set forth in Section 1.1(a) of the Disclosure Schedule, U.S. generally accepted accounting principles as in effect on the date hereof, applied on a basis consistent with the Company Financial Statements.

Adjusted GAAP means GAAP, provided that it shall exclude the effects of any consolidation in the consolidated financial statements of the Borrower of any real estate partnership which is a party to an Affiliated Lease Agreement to the extent that (and only to the extent that) the Borrower and its Subsidiaries have (x) no ownership interest in such partnership and (y) no obligation to pay or guarantee any indebtedness, liability or obligation of such partnership. All accounting terms used in the calculation of any financial covenant or test shall be interpreted and all accounting determinations hereunder in the calculation of any financial covenant or test shall be made in accordance with Adjusted GAAP.

Adjusted GAAP will mean GAAP, including, without limitation, appropriate accruals for warranty and other reserves and bonuses, and except that the Optioned Real Property and Excluded Assets (other than the assets relating to the Sterling Oaks subdivision) and Excluded Liabilities will be omitted.

Adjusted GAAP will mean generally accepted accounting principles, consistently applied in accordance with past practices of Seller, provided that (i) there will be appropriate reserves or accruals for vacation pay, sick pay, severance obligations and other similar types of employment obligations, (ii) reserves for Excluded Construction Claims will be as agreed upon by the parties, subject to revision based only on fraud, concealment or mistake, (iii) Excluded Assets and Excluded Liabilities (including any reserves or accruals for federal income taxes) will be omitted, and (iv) any profit or loss on the sale of real property to landbankers or model homes to investors, which sales are approved by Seller pursuant to SECTION 6.9, will be disregarded.

Adjusted GAAP shall have the meaning set forth in Section 2.5.

Adjusted GAAP means United States generally accepted accounting principles in effect on the date hereof ("GAAP") applied on a basis consistent with the December 31, 1997 Statement of Company Business Net Worth, as adjusted by the accounting adjustments in Section 1.4(a) of the Disclo- sure Schedule.

Adjusted GAAP means generally accepted accounting principles in the United States of America in affect from time to time, or a comprehensive method of accounting other than generally accepted accounting principles (to be used either alone or in connection with such generally accepted accounting principles), subject to adjustment from time to time, including, but not limited to, recording cash payments under the Lease in a separate line item in operating expenses above EBITDA entitled “Facility Lease.””