Applicable Accounting Rules definition

Applicable Accounting Rules means, (a) prior to the Hut Amalgamation, International Financial Reporting Standards and (b) thereafter, United States Generally Accepted Accounting Principles.

Applicable Accounting Rules means, in respect of a particular Person, the body of generally accepted accounting principles which are applicable to the preparation and presentation of such Person's financial statements.

Applicable Accounting Rules means GAAP or IFRS, as applicable to the applicable Person in the applicable context.

Examples of Applicable Accounting Rules in a sentence

• The Borrower will keep proper books of record and accounts in conformity in all material respects with Applicable Accounting Rules shall be made of all dealings and transactions in relation to its business and activities.

• Make or permit, or permit any of its Subsidiaries to make or permit, any change in accounting policies or reporting practices, except as required by Applicable Accounting Rules.

• Keep, and cause each of its Subsidiaries to keep, proper books of record and account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Borrower and each such Subsidiary in accordance with Applicable Accounting Rules in effect from time to time.

• The Borrower has no liabilities, obligations or commitments of a type required to be reflected on a balance sheet prepared in accordance with Applicable Accounting Rules except: (i) those which are adequately reflected or reserved against in the Consolidated balance sheet as at December 31, 2020 and (ii) those which have been incurred in the ordinary course of business since December 31, 2020 and which are not material in amount.

• The charges, accruals and reserves on the books of the Borrower and its Subsidiaries in respect of Taxes or other governmental charges are adequate in accordance with Applicable Accounting Rules.

More Definitions of Applicable Accounting Rules

Applicable Accounting Rules means GAAP or IFRS, as applicable to the applicable Person in the applicable context; provided, that for purposes of the definitions of “Indebtedness” and “Capital Lease Obligations”, the determination whether a lease is a capital lease or an operating lease, the capitalized amount of any lease, and whether any obligations under such lease constitute a liability on the balance sheet of any person shall, in each case, be made on the basis of GAAP or IFRS (as applicable) as in effect on the Original Closing Date, without giving effect to any subsequent change in GAAP or IFRS (including, for the avoidance of doubt, IFRS 16).

Applicable Accounting Rules has the meaning specified in Section 1.03. 

Applicable Accounting Rules means, with respect to any FIL Participant, the accounting principles generally recognized as applicable to such FIL Participant and the business thereof, and pursuant to which such FIL Participant regularly prepares and maintains its financial and accounting books and records and which specifically incorporate Generally Accepted Accounting Principles or International Financial Reporting Standards.

Applicable Accounting Rules means United States Generally Accepted Accounting Principles.

Applicable Accounting Rules means the body of generally accepted accounting principles which are applicable to the preparation and presentation of the Corporation's financial statements.

Applicable Accounting Rules means, in respect of a particular Person, the body of generally accepted accounting principles which are applicable to the preparation and presentation of such Person’s financial statements.

Applicable Accounting Rules means the accounting principles generally recognized as applicable to the Company and the Company’s businesses and pursuant to which the Company regularly prepares and maintains its financial and accounting books and records and which specifically incorporate Generally Accepted Accounting Principles or International Financial Reporting Standards, as appropriate.