Mexican GAAP definition

Mexican GAAP means generally accepted accounting principles in Mexico in effect on the Issue Date.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Mexican GAAP means generally accepted accounting principles in Mexico, consistently applied.

Mexican GAAP means financial reporting standards in Mexico and the accounting principles and policies of the Company and its Restricted Subsidiaries, in each case as in effect from time to time, or any financial reporting standards authorized by the Mexican Comisión Nacional Bancaria y de Valores and applied by the Company. All ratios and computations shall be computed in conformity with Mexican GAAP.

Examples of Mexican GAAP in a sentence

All accounting and financing terms not specifically defined herein shall be construed in accordance with Mexican GAAP.
Except as set forth in CLAUSE 2.7 of the ----------------------- Disclosure Schedule, the Company has no liability (whether absolute or contingent, liquidated or non-liquidated and whether due or to become due) which by its nature should have been known and which would have been required by Mexican GAAP to be reflected on a balance sheet, except for liabilities shown on the balance sheet referred to in Clause 2.6 (the "Most Recent Balance Sheet").
The Borrower will 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 Mexican GAAP, consistently applied.
Each Restricted Subsidiary that makes a payment or distribution under a Note Guarantee shall be entitled to a contribution from each other Restricted Subsidiary in a pro rata amount, based on the net assets of each Restricted Subsidiary determined in accordance with Mexican GAAP but may not exercise any right to such contribution unless and until the Trustee and all Holders of Notes have been paid in full.
The Company shall also furnish the Depositary with an English translation of its unaudited quarterly financial statements for each of the first three calendar quarters prepared in accordance with Mexican GAAP.

More Definitions of Mexican GAAP

Mexican GAAP means generally accepted accounting principles as in effect from time to time in Mexico and, subject to changes in such principles from time to time, consistently applied in accordance with the past practices of a Person.

Mexican GAAP has the meaning set forth in Section 1.03.

Mexican GAAP means, generally accepted accounting principles in Mexico as in effect from time to time, except that for purposes of Section 9.01, Mexican GAAP shall be determined on the basis of such principles in effect on the date hereof and consistent with those used in the preparation of the most recent audited financial statements referred to in Section 8.01. In the event that any change in Mexican GAAP shall occur and such change results in a change in the method of calculation of financial covenants, standards or terms in this Agreement, then the Borrower and the Administrative Agent agree to enter into negotiations in order to amend such provisions of this Agreement so as to equitably reflect such change in Mexican GAAP with the desired result that the criteria for evaluating the Borrower’s financial condition shall be the same after such change as if such change had not been made. Until such time as such an amendment shall have been executed and delivered by the Borrower, the Administrative Agent and the Required Lenders, all financial covenants, standards and terms in this Agreement shall continue to be calculated or construed as if such change in Mexican GAAP had not occurred.

Mexican GAAP means GAAP, as applied in Mexico.

Mexican GAAP shall ------------ mean Mexican generally accepted accounting principles.

Mexican GAAP means the Mexican Financial Reporting Standards (Normas de Información Financiera) in Mexico.

Mexican GAAP means, as applicable, (i) Mexican Generally Accepted Accounting Principles (Principios de Contabilidad Generalmente Aceptados) issued by the Mexican Accounting Principles Commission of the Mexican Institute of Public Accountants effective until December 31, 2005, (ii) the Mexican Financial Information Standards (Normas de Información Financiera) issued by the Mexican Council for the Research and Development of Financial Information Standards, effective from January 1, 2006, as amended from time to time, or (iii) IFRS as in effect as of January 1, 2012 or earlier should the Company elect to apply them earlier than that date pursuant to Transitory Article Third of the January 27, 2009 amendments to the Disposiciones de Carácter General Aplicables a las Emisoras de Valores y a Otros Participantes del ▇▇▇▇▇▇▇ de Valores in effect from time to time in Mexico.