1Terms Sample Clauses
The 'Terms' clause defines the specific conditions and provisions that govern the agreement between the parties. It typically outlines the duration of the contract, the obligations and rights of each party, and any key definitions or parameters relevant to the arrangement. By clearly setting out these foundational elements, the clause ensures that both parties have a mutual understanding of their commitments and helps prevent disputes arising from ambiguity or differing interpretations.
1Terms. Capitalized terms used herein shall have the meanings set forth in Section 1.4 to the extent defined therein. All other capitalized terms used but not defined herein shall have the meaning given to such terms in the Code. Any accounting term used but not defined herein shall be construed in accordance with GAAP and all calculations shall be made in accordance with GAAP. The term “financial statements” shall include the accompanying notes and schedules. Notwithstanding anything to the contrary contained herein, (a) all financial statements delivered hereunder shall be prepared, and all financial covenants contained herein shall be calculated, without giving effect to any election under the Statement of Financial Accounting Standards No. 159 (or any similar accounting principle) permitting a Person to value its financial liabilities or Indebtedness at the fair value thereof and (b) the financial statements delivered hereunder shall be prepared without giving effect to the implementation of Accounting Standards Codification 606: Revenue from Contracts with Customers.
1Terms. Capitalized terms used herein shall have the meanings set forth in Section 1.4 to the extent defined therein. All other capitalized terms used but not defined herein shall have the meaning given to such terms in the Code. Any accounting term used but not defined herein shall be construed in accordance with GAAP and all calculations shall be made in accordance with GAAP. If at any time any change in GAAP would affect the computation of any financial requirement set forth in any Loan Document, and either Borrower or the Collateral Agent shall so request, the Collateral Agent and Borrower shall negotiate in good faith to amend such requirement to preserve the original intent thereof in light of such change in GAAP; provided, that, until so amended, such requirement shall continue to be computed in accordance with GAAP prior to such change therein. For the avoidance of doubt, leases shall be classified and accounted for on a basis consistent with GAAP as in effect on the Effective Date (which shall include FASB ASC 842) for all purposes of this agreement. The term “financial statements” shall include the accompanying notes and schedules.
1Terms. The necessary grammatical changes required to make the provisions hereof apply either to corporations, partnerships or other entities or individuals, men or women, as the case may require, shall in all cases be assumed as though in each case fully expressed.