Local GAAP definition

Local GAAP means, with respect to any Foreign Subsidiary, generally accepted accounting principles in the jurisdictions in which such Person is organized and its principal business operations are conducted, consistently applied.

Local GAAP means with respect to any Foreign Subsidiary of Aleris generally accepted accounting principles in the jurisdiction of organization of such Subsidiary as in effect from time to time or, at the option of such Foreign Subsidiary, IFRS.

Local GAAP means generally accepted accounting principles in the jurisdiction of any Account Party.

Examples of Local GAAP in a sentence

• The shareholder of this holding company is AXA Holdings Belgium, a Belgian company.The Company belongs to the AXA Group, a worldwide leader in financial protection.The financial statements of the Company are prepared and published in Local GAAP (Lux GAAP) and are also prepared in IFRS for the consolidated financial statements of the AXA Group, 25, Avenue Matignon, F-75008 Paris.

• The Borrower shall, and shall cause each Subsidiary of the Borrower to keep, proper books and records in conformity with GAAP or Local GAAP, as applicable.

• The accounts of the overseas Subsidiaries are based on their accounting records maintained in conformity with generally accepted accounting principles prevailing in the respective countries of domicile (“Local GAAP”) and significant differences between Japanese GAAP and Local GAAP are adjusted in consolidation.

• These financial statements have been prepared in accordance with the International Financial Reporting Standards issued by the International Accounting Standard Board (”IASB”).For all periods up to and including the year ended 31 December 2011, the Company prepared its financial statements in accordance with local generally accepted accounting principles (Local GAAP).

• For periods up to and including the year ended 31 December 2011, the Bank prepared its financial statements in accordance with local generally accepted accounting principle (Local GAAP).

More Definitions of Local GAAP

Local GAAP means generally accepted accounting principles of the jurisdiction of the Senior Notes Issuer as in effect from time to time.

Local GAAP means generally accepted accounting principles of the jurisdiction of the Issuer as in effect from time to time.

Local GAAP means the generally accepted accounting principles in the jurisdiction of organization of any non-U.S. entity.

Local GAAP means, with respect to Foreign Subsidiaries that are Restricted Subsidiaries, generally accepted accounting principles that are applicable in their respective jurisdictions of organization.

Local GAAP means generally accepted accounting principles applicable in the country for which any particular financial statements of an Acquired Company are prepared, as in effect on the Effective Date and consistently applied.

Local GAAP means, with respect to any Business, the accounting principles generally accepted in the jurisdiction in which the principal executive office of such Business is located and consistently applied.

Local GAAP means generally accepted accounting principles in the jurisdiction of any Account Party. “Margin Stock” means “margin stock” within the meaning of Regulations T, U and X of the Board.