GAAP consistently applied definition

GAAP consistently applied means GAAP as used and implemented by the Company applied on a consistent basis during the term of this Agreement.

GAAP consistently applied means GAAP (A) using the same accounting methods, policies, practices and procedures, with consistent classification, judgments and estimation methodology, as were used by the Sellers, to the extent such methods, policies, practices and procedures were applied in a manner consistent with GAAP, in the preparation of the Financial Statements, and (B) not taking into account any

GAAP consistently applied means GAAP: (A) using the same accounting methods, policies, practices, and procedures, with consistent classification, judgments, and estimation methodology, as were used by the Company in preparing the Balance Sheet to the extent consistent with GAAP; (B) not taking into account any changes in circumstances or events occurring after the opening of business on the Closing Date, except to the extent such changes provide indications of conditions on the Closing Date; and (C) in no event reducing the respective amounts or reserves and accruals for the Company from the amounts included in the Balance Sheet except to reflect (i) cash payments made by the Company subsequent to the date of the Balance Sheet, and (ii) changes in circumstances or events occurring between the date of the Balance Sheet and the Closing Date, but only if such changes either definitively resolve or otherwise conclusively establish the amount of the liability exposure with respect to which the reserve in question has been established.

Examples of GAAP consistently applied in a sentence

• The undersigned certifies that these are prepared in accordance with GAAP consistently applied from one period to the next except as explained in an accompanying letter or footnotes.

• Maintain proper books of record and account, in which full, true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of the Borrower or such Subsidiary, as the case may be.

• The Company shall keep and cause each subsidiary to keep adequate records and books of account, in which complete entries will be made in accordance with GAAP consistently applied, reflecting all financial transactions of the Company and its subsidiaries, and in which, for each fiscal year, all proper reserves for depreciation, depletion, obsolescence, amortization, taxes, bad debts and other purposes in connection with its business shall be made.

• The Grantee shall maintain books, records and documents directly pertinent to performance under this Agreement in accordance with United States generally accepted accounting principles (US GAAP) consistently applied.

• The Company shall keep and cause each Subsidiary to keep adequate records and books of account, in which complete entries will be made in accordance with GAAP consistently applied, reflecting all financial transactions of the Company and its Subsidiaries, and in which, for each fiscal year, all proper reserves for depreciation, depletion, obsolescence, amortization, taxes, bad debts and other purposes in connection with its business shall be made.

More Definitions of GAAP consistently applied

GAAP consistently applied means GAAP (A) using the same accounting methods, policies, practices and procedures, with consistent classification, judgments and estimation methodology to the extent consistent with GAAP, as were used by Seller in preparing the 2005 Audited Financial Statements and (B) in no event reducing the respective amounts of reserves and accruals for Seller from the amounts included in the 2005 Audited Financial Statements except to reflect (i) cash payments made by Seller subsequent to the date of the 2005 Audited Financial Statements or (ii) changes in facts, events or circumstances occurring between the date of the 2005 Audited Financial Statements and the Closing Date (and/or additional information or insight regarding any facts, events or circumstances that existed before or after the date of the 2005 Audited Financial Statements) that, based on the same accounting methods, policies, practices and procedures as were used by Seller in preparing the 2005 Audited Financial Statements and with consistent classification, judgment and estimation methodology, require or otherwise justify a reduction in the amount of any such reserves or accruals.

GAAP consistently applied means GAAP (A) using the same accounting methods, policies, practices, and procedures, with consistent classification, judgments, and estimation methodology, as were used by the Seller in preparing the Balance Sheet, (B) not taking into account any changes in circumstances or events occurring after the opening of business on the Closing Date, except to the extent such changes provide indications of conditions on the Closing Date and (C) in no event reducing the respective amounts or reserves and accruals for the Seller from the amounts included in the Balance Sheet except to reflect (i) cash payments made by the Seller subsequent to the date of the Balance Sheet and (ii) changes in circumstances or events occurring between the date of the Balance Sheet and the Closing Date, but only if such changes either definitively resolve or otherwise conclusively establish the amount of the liability exposure with respect to which the reserve in question has been established.

GAAP consistently applied means GAAP applied on a basis consistent with the accounting methodologies, practices, estimation techniques, assumptions and principles used by Seller as of the date hereof and the principles set forth on Section 1.2(e) of the Seller Disclosure Letter.

GAAP consistently applied means GAAP consistent with the Seller’s historical practices.

GAAP consistently applied has the meaning set forth in Section 2.4(b).

GAAP consistently applied means GAAP (A) using the same accounting methods, policies, practices and procedures, with consistent classification, judgments and estimation methodology to the extent consistent with GAAP, as were used by Seller in preparing the 2005 Audited Financial

GAAP consistently applied means GAAP (A) using the same accounting methods, policies, practices and procedures, with consistent classification, judgments and estimation methodology, as were used by the Company in preparing the Balance Sheet to the extent consistent with GAAP, (B) not taking into account any changes in circumstances or events occurring after the close of business on the Closing Date, except to the extent such changes provide indications of conditions on the Closing Date and (C) in no event reducing the respective amounts or reserves and accruals for the Company from the amounts included in the Balance Sheet except to reflect (i) cash payments made by the Company subsequent to the date of the Balance Sheet and (ii) changes in circumstances or events occurring between the date of the Balance Sheet and the Closing Date, but only if such changes either definitively resolve or otherwise conclusively establish the amount of the liability exposure with respect to which the reserve in question has been established.