Approved Accounting Method definition

Approved Accounting Method means GAAP, federal tax basis accounting (consistently applied) or such other method of accounting, consistently applied, as may be reasonably acceptable to Lender.

Approved Accounting Method has the meaning set forth in Section 5.1 of this Agreement.

Approved Accounting Method means generally accepted accounting principles applicable to entities organized as the Borrower in the United States of America as of the date of the applicable financial report, or such other modified accrual or cash basis system of accounting approved by the Bondholder Representative.

Examples of Approved Accounting Method in a sentence

• All references herein to "Approved Accounting Method" refer to such principles as they exist at the date of application thereof.

• Note: The earlier target of 36670 Nos of fixing meters to IP sets for FY-05 has been revised to 7155 Nos and that to BJ/KJ installations reduces from 75000 Nos to 49022 Nos.

• All financial data, including the statements of cash flow and income and operating expense, that have been delivered to Lender in connection with the Loan (i) are true, complete and correct in all material respects, (ii) accurately represent the financial condition of Borrower and Guarantor as of the date of such reports, and (iii) have been prepared in accordance with an Approved Accounting Method throughout the periods covered, except as disclosed therein.

• For the purposes of this clause (ii), “Net Worth” shall mean, as of a given date, (i) Guarantor’s total assets as of such date (exclusive of any equity attributable to the Property or in any other asset that is part of the collateral for the Loan) less, (ii) Guarantor’s total liabilities as of such date, determined in accordance with an Approved Accounting Method.

• All accounting terms not specifically defined herein shall be construed in accordance with the Approved Accounting Method.

More Definitions of Approved Accounting Method

Approved Accounting Method means generally accepted accounting principles applicable to entities organized as the Borrower in the United States of America as of the date of the applicable financial report, or such other modified accrual or cash basis system of accounting approved by the Funding Lender.

Approved Accounting Method means GAAP, the cash basis of accounting method, the accrual basis of accounting method or the income tax basis of accounting method utilized by Borrower and Guarantor in the preparation of financial data, so long as the same is and remains in general use by significant segments of the United States accounting profession and is consistently applied throughout the full stated term of the Loan (both as to the application of the rules governing such accounting method and the choice of which accounting method to apply).

Approved Accounting Method means GAAP or the income tax basis of accounting method (which such methods are as set forth in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board (or agencies with similar functions of comparable stature and authority within the accounting profession)) as utilized by Borrower in the preparation of financial data, so long as the same is and remains in general use by significant segments of the United States accounting profession and is consistently applied throughout the term of the Loan (both as to the application of the rules governing such accounting method and the choice of which accounting method to apply).

Approved Accounting Method means the income tax method of accounting or another accounting method commonly used for individuals or assets similarly situated to the Properties which is consistently applied and reasonably acceptable to Lender; provided, however, to the extent the use of another accounting method would result in the qualification, downgrade or withdrawal of the credit rating of the applicable Securities, Borrower agrees, upon notice from Lender, to immediately commence using GAAP.

Approved Accounting Method means generally accepted accounting principles, a tax basis of accounting or other sound methods of accounting consistently applied and acceptable to Lender in its reasonable discretion.

Approved Accounting Method means the Uniform System of Accounts (consistently applied) or such other method of accounting, consistently applied, as may be reasonably acceptable to Lender.

Approved Accounting Method means (i) GAAP, (ii) federal tax basis accounting (consistently applied) or (iii) such other method of accounting, consistently applied, as may be reasonably acceptable to Lender.