Good Accounting Practice means such accounting practice as, in the opinion of independent certified public accountants satisfactory to Lender, conforms at the time to generally accepted accounting principles or, with the prior written consent of Lender, which may be given or withheld in Lender’s sole discretion, in any applicable case, cash basis of accounting or the federal income tax basis of accounting, consistently applied. Each accounting term not defined in this Agreement shall have the meaning given to it under Good Accounting Practice.
Good Accounting Practice means such accounting practice as, in the opinion of independent certified public accountants satisfactory to Lender, conforms at the time to generally accepted accounting principles or, with the express prior written consent of Lender in any applicable case, cash basis of accounting or the federal income tax basis of accounting, consistently applied. Each accounting term not defined in this Note shall have the meaning given to it under Good Accounting Practice.
Good Accounting Practice means such accounting practice as conforms at the time to generally accepted accounting principles applied on a consistent basis.
Examples of Good Accounting Practice in a sentence
Borrower shall have the right to pay such tax under protest or to otherwise contest any such tax or assessment, but only if (a) such contest has the effect of preventing the collection of such taxes so contested and also of preventing the sale or forfeiture of any property subject thereto, (b) Borrower has notified Lender of its intent to contest such taxes, and (c) adequate reserves for the liability associated with such tax have been established in accordance with Good Accounting Practice.
The Company will at all times maintain appropriate corporate records, including records of all directors or shareholders meetings, minutes and all share transactions, and keep proper books of record and account (including ledgers and order books) in which full, true, and correct entries will be made of its transactions in accordance with Good Accounting Practice.
The statements shall be prepared in accordance with Good Accounting Practice and, in case of the fiscal year end statements, shall be approved by the Company's Board of Directors.
Capital Expenditures shall mean expenditures for fixed or capital assets (including expenditures for maintenance, repairs and replacements) that are required to be capitalized on a balance sheet prepared in accordance with Good Accounting Practices, as determined in accordance with Good Accounting Practice, excluding expenditures for the acquisition of a business and net of proceeds from the sale of equipment which was capitalized in accordance with Good Accounting Practices.
Borrower will (and will cause each Obligor to) keep proper books of record and account in which full, true and correct entries are made of all transactions in relation to its business, activities and assets as required by Good Accounting Practice.
More Definitions of Good Accounting Practice
Good Accounting Practice. Such accounting practice as, in the opinion of independent accountants of recognized national standing regularly retained by Borrower or other Person (as the case may be) and acceptable to and approved by Lender, conforms at the time to generally accepted accounting principles, consistently applied. Generally accepted accounting principles means those principles and practices (a) which are recognized as such by the Financial Accounting Standards Board, (b) applied after the date of Borrower’s or other Person’s (as the case may be) most recently audited financial statements furnished to Lender in a manner consistent with the manner in which such principles and practices were applied to such statements, and (c) consistently applied for all periods after the date of such most recent audited financial statements so as to reflect properly the financial condition, and results of operations and changes in financial position, of such Person. If any change in any accounting principle or practice is required by the Financial Accounting Standards Board in order for such principle or practice to continue as a generally accepted accounting principle, all reports and financial statements required hereunder may be prepared in accordance with such change only after written notice of such change is given to Lender.
Good Accounting Practice means, as to a particular corporation, such accounting practice as, in the opinion of the independent certified public accountants regularly retained by such corporation, conforms at the time to generally accepted accounting principles applied on a consistent basis (except for changes in application in which such accountants concur). Any accounting terms not defined in this Agreement shall have the respective meanings given to them under Good Accounting Practice consistent with those applied in the preparation of the Company's consolidated financial statements as (or as if) audited.
Good Accounting Practice means such accounting practice as, in the opinion of independent accountants regularly retained by the Borrower or other Person (as the case may be) acceptable to and approved by the Lender, conforms at the time to generally accepted accounting principles, consistently applied, which are recognized as such by the Financial Accounting Standards Board, and if any change in any accounting principle or practice is required by the Financial Accounting Standards Board in order for such principle or practice to continue as a generally accepted accounting principle, all reports and financial statements required hereunder may be prepared in accordance with such change only after written notice of such change is given to the Lender.
Good Accounting Practice means, as to a particular corporation, such accounting practice as, in the opinion of the independent certified public accountants regularly retained by such corporation, conforms at the time to generally accepted accounting principles applied on a consistent basis (except for changes in application in which such accountants concur). Any accounting terms not defined in this Agreement shall have the respective meanings given to them under Good Accounting Practice consistent with those applied in the preparation of the Company's consolidated financial statements.
Good Accounting Practice means such accounting practice as, in the opinion of independent accountants of recognized national standing regularly retained by the Borrower or other Person (as the case may be) and acceptable to and approved by the Lender, conforms at the time to generally accepted accounting principles, consistently applied. Generally accepted accounting principles mean those principles and practices which are (a) recognized as such by the Financial Accounting Standards Board, (b) applied after the date of the Borrower's or other Person's (as the case may be) most recently audited financial statements furnished to the Lender in a manner consistent with the manner in which such principles and practices were applied to such statements, and (c) consistently applied for all periods after the date of such most recent audited financial statements so as to reflect properly the financial condition, and results of operations and changes in the financial position, of such Person. If any change in any accounting principle or practice is required by the Financial Accounting Standards Board in order for such principle or practice to continue as a generally accepted accounting principle, all reports and financial statements required hereunder may be prepared in accordance with such change only after written notice of such change is given to the Lender. Governmental Authority shall mean the United States, the State of Texas, the County of Harris, the City of Houston, each District, the Texas Xxxxxal Resource Conservation Commission, the Department of Housing and Urban Development, the Environmental Protection Agency, any political subdivision of any of the foregoing and any agency, department, commission, board, bureau, court or instrumentality of any of them which now or hereafter has jurisdiction over the Lender, the Borrower or any part of the Premises or construction on the Premises.
Good Accounting Practice means such accounting practice as, in the opinion of independent certified public accountants satisfactory to Lender, conforms at the time to generally accepted accounting principles or, with the prior written consent of Lender, which may be given or withheld in Lender’s sole discretion, in any applicable case, cash basis of accounting or the federal income tax basis of accounting, consistently applied. Each accounting term not defined in this Agreement shall have the meaning given to it under Good Accounting Practice. Loan AgreementFrisco 113, Collin County, Texas 4
Good Accounting Practice means such accounting practice as, in the opinion of independent certified public accountants satisfactory to Lender, conforms at the time to generally accepted accounting principles or, with the prior written consent of Lender, which may be given or withheld in Lender’s sole discretion, in any applicable case, cash basis of accounting or the federal income tax basis of accounting, consistently applied. Each accounting term not defined in this Agreement shall have the meaning given to it under Good Accounting Practice. Loan Agreement – Fxxxxx Xxxxx 0X, 0X, 0X XX-0 , Xxxxxx County, Texas 5