Common use of Accounting Terms; Financial Statements Clause in Contracts

Accounting Terms; Financial Statements. (a) Unless otherwise specified herein and subject to SECTION 1.2(B) below, all accounting terms used herein but not expressly defined in this Agreement shall have respective meanings given to them in accordance with GAAP in effect on the date hereof in the United States of America. Except as otherwise expressly provided herein, all computations and determinations for purposes of determining compliance with the financial requirements of this Agreement shall be made in accordance with GAAP in effect in the United States of America on the date hereof and on a basis consistent with the presentation of the financial statements and projections delivered pursuant to, or otherwise referred to in, SECTIONS 6.5(A) and 6.5(E). Notwithstanding the foregoing sentence, the financial statements required to be delivered pursuant to SECTION 7.1 shall be prepared in accordance with GAAP in the United States of America as in effect on the respective dates of their preparation. Unless otherwise provided for herein, wherever any computation is to be made with respect to any Person and its Subsidiaries, such computation shall be made so as to exclude all items of income, assets and liabilities attributable to any Person which is not a Subsidiary of such Person. For purposes of the financial terms set forth herein, whenever a reference is made to a determination which is required to be made on a consolidated basis (whether in accordance with GAAP or otherwise) for the Borrower and its Subsidiaries, such determination shall be made as if each Unrestricted Subsidiary were wholly-owned by a Person not an Affiliate of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Noveon Inc)

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Accounting Terms; Financial Statements. (a) Unless otherwise specified herein and subject to SECTION 1.2(B) below, all All accounting terms used herein but not expressly defined in this Agreement shall have the respective meanings given to them in accordance with GAAP as applied in effect on the date hereof in the United States of AmericaUSA. Except as otherwise expressly provided hereinherein (including without limitation, any modification to the terms hereof pursuant to Section 8.14), all computations and determinations for purposes of determining compliance with the financial requirements of this Agreement shall be made in accordance with GAAP in effect in the United States of America USA on the date hereof and on a basis consistent with the presentation of the financial statements and projections delivered pursuant to, or otherwise referred to in, SECTIONS 6.5(A) and 6.5(E)Section 6.5. Notwithstanding the foregoing sentence, the financial statements required to be delivered pursuant to SECTION Section 7.1 shall be prepared in accordance with GAAP in the United States of America USA as in effect on the respective dates of their preparation. Unless otherwise provided for herein, wherever any computation is to be made with respect to any Person and its Subsidiaries, such computation shall be made so as to exclude all items of income, assets and liabilities attributable to any Person which is not a Subsidiary of such Person. For purposes of the financial terms set forth herein, whenever a reference is made to a determination which is required to be made on a consolidated basis (whether in accordance with GAAP or otherwise) for Borrowers and their Restricted Subsidiaries or for the Borrower Company and its Restricted Subsidiaries, such determination shall be made as if each Unrestricted Subsidiary were wholly-owned by a Person not an Affiliate of the any Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Huntsman Petrochemical Finance Co)

Accounting Terms; Financial Statements. (a) Unless otherwise specified herein and subject to SECTION 1.2(B) below, all All accounting terms used herein but not expressly defined in this Agreement shall have respective meanings given to them in accordance with GAAP in effect on the date hereof in the United States of America. Except as otherwise expressly provided hereinherein (including without limitation, any modification to the terms hereof pursuant to Section 8.12), all computations and determinations for ------------ purposes of determining compliance with the financial requirements of this Agreement shall be made in accordance with GAAP in effect in the United States of America on the date hereof and on a basis consistent with the presentation of the financial statements and projections delivered pursuant to, or otherwise referred to in, SECTIONS 6.5(ASections 6.5(a) and 6.5(E6.5(e). Notwithstanding the foregoing --------------- ------ sentence, the financial statements required to be delivered pursuant to SECTION Section ------- 7.1 shall be prepared in accordance with GAAP in the United States of America as --- in effect on the respective dates of their preparation. Unless otherwise provided for hereinherein (including, without limitation, the definition of Wholly- Owned Subsidiary), wherever any computation is to be made with respect to any Person and its Subsidiaries, such computation shall be made so as to exclude all items of income, assets and liabilities attributable to any Person which is not a Subsidiary of such Person. For purposes of the financial terms set forth herein, whenever a reference is made to a determination which is required to be made on a consolidated basis (whether in accordance with GAAP or otherwise) for the Borrower and its Subsidiaries, such determination shall be made as if each Unrestricted Subsidiary were wholly-owned by a Person not an Affiliate of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Tioxide Americas Inc)

Accounting Terms; Financial Statements. (a) Unless otherwise specified herein and subject to SECTION 1.2(B) below, all All accounting terms used herein but not expressly defined in this Agreement shall have the respective meanings given to them in accordance with GAAP as applied in effect on the date hereof in the United States of AmericaUSA. Except as otherwise expressly provided hereinherein (including without limitation, any modification to the terms hereof pursuant to SECTION 8.14), all computations and determinations for purposes of determining compliance with the financial requirements of this Agreement shall be made in accordance with GAAP in effect in the United States of America USA on the date hereof and on a basis consistent with the presentation of the financial statements and projections delivered pursuant to, or otherwise referred to in, SECTIONS 6.5(A) and 6.5(E)SECTION 6.5. Notwithstanding the foregoing sentence, the financial statements required to be delivered pursuant to SECTION 7.1 shall be prepared in accordance with GAAP in the United States of America USA as in effect on the respective dates of their preparation. Unless otherwise provided for herein, wherever any computation is to be made with respect to any Person and its Subsidiaries, such computation shall be made so as to exclude all items of income, assets and liabilities attributable to any Person which is not a Subsidiary of such Person. For purposes of the financial terms set forth herein, whenever a reference is made to a determination which is required to be made on a consolidated basis (whether in accordance with GAAP or otherwise) for the Borrower and its Restricted Subsidiaries or for Borrower and its Subsidiaries (other than Unrestricted Subsidiaries), such determination shall be made as if each Unrestricted Subsidiary were wholly-owned by a Person not an Affiliate of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Huntsman Polymers Corp)

Accounting Terms; Financial Statements. (a) Unless otherwise specified herein and subject to SECTION 1.2(B) below, all All accounting terms used herein but not expressly defined in this Agreement shall have the respective meanings given to them in accordance with GAAP as applied in effect on the date hereof in the United States of AmericaUSA. Except as otherwise expressly provided hereinherein (including without limitation, any modification to the terms hereof pursuant to Section 8.13), all computations and determinations for purposes of determining compliance with the financial requirements of this Agreement shall be made in accordance with GAAP in effect in the United States of America USA on the date hereof and on a basis consistent with the presentation of the financial statements and projections delivered pursuant to, or otherwise referred to in, SECTIONS 6.5(A) and 6.5(E)Section 6.5. Notwithstanding the foregoing sentence, the financial statements required to be delivered pursuant to SECTION Section 7.1 shall be prepared in accordance with GAAP in the United States of America USA as in effect on the respective dates of their preparation. Unless otherwise provided for herein, wherever any computation is to be made with respect to any Person and its Subsidiaries, such computation shall be made so as to exclude all items of income, assets and liabilities attributable to any Person which is not a Subsidiary of such Person. For purposes of the financial terms set forth herein, whenever a reference is made to a determination which is required to be made on a consolidated basis (whether in accordance with GAAP or otherwise) for the Borrower and its Restricted Subsidiaries or for Borrower and its Subsidiaries (other than Unrestricted Subsidiaries), such determination shall be made as if each Unrestricted Subsidiary were wholly-owned by a Person not an Affiliate of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Huntsman LLC)

Accounting Terms; Financial Statements. (a) Unless otherwise specified herein and subject to SECTION 1.2(B) below, all All accounting terms used herein but not expressly defined in this Agreement shall have the respective meanings given to them in accordance with GAAP as applied in effect on the date hereof in the United States of AmericaUSA. Except as otherwise expressly provided hereinherein (including without limitation, any modification to the terms hereof pursuant to Section 8.13), all computations and determinations for purposes of determining compliance with the financial requirements of this Agreement shall be made in accordance with GAAP in effect in the United States of America USA on the date hereof and on a basis consistent with the presentation of the financial statements and projections delivered pursuant to, or otherwise referred to in, SECTIONS 6.5(A) and 6.5(E)Section 6.5. Notwithstanding the foregoing sentence, the financial statements required to be delivered pursuant to SECTION Section 7.1 shall be prepared in accordance with GAAP in the United States of America USA as in effect on the respective dates of their preparation. Unless otherwise provided for herein, wherever any computation is to be made with respect to any Person and its Subsidiaries, such computation shall be made so as to exclude all items of income, assets and liabilities attributable to any Person which is not a Subsidiary of such Person. For purposes of the financial terms set forth herein, whenever a reference is made to a determination which is required to be made on a consolidated basis (whether in accordance with GAAP or otherwise) for Borrowers and their Restricted Subsidiaries or for the Borrower Company and its Restricted Subsidiaries, such determination shall be made as if each Unrestricted Subsidiary were wholly-owned by a Person not an Affiliate of the any Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Huntsman LLC)

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Accounting Terms; Financial Statements. (a) Unless otherwise specified herein and subject to SECTION 1.2(B) below, all All accounting terms used herein but not expressly defined in this Agreement shall have the respective meanings given to them in accordance with GAAP as applied in effect on the date hereof in the United States of AmericaUSA. Except as otherwise expressly provided hereinherein (including without limitation, any modification to the terms hereof pursuant to Section 8.14), all computations and determinations for purposes of determining compliance with the financial requirements of this Agreement shall be made in accordance with GAAP in effect in the United States of America USA on the date hereof and on a basis consistent with the presentation of the financial statements and projections delivered pursuant to, or otherwise referred to in, SECTIONS 6.5(A) and 6.5(E)Section 6.5. Notwithstanding the foregoing sentence, the financial statements required to be delivered pursuant to SECTION Section 7.1 shall be prepared in accordance with GAAP in the United States of America USA as in effect on the respective dates of their preparation. Unless otherwise provided for herein, wherever any computation is to be made with respect to any Person and its Subsidiaries, such computation shall be made so as to exclude all items of income, assets and liabilities attributable to any Person which is not a Subsidiary of such Person. For purposes of the financial terms set forth herein, whenever a reference is made to a determination which is required to be made on a consolidated basis (whether in accordance with GAAP or otherwise) for the Borrower and its Restricted Subsidiaries or for Borrower and its Subsidiaries (other than Unrestricted Subsidiaries), such determination shall be made as if each Unrestricted Subsidiary were wholly-owned by a Person not an Affiliate of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Huntsman Petrochemical Finance Co)

Accounting Terms; Financial Statements. (a) Unless otherwise specified herein and subject to SECTION 1.2(B) below, all All accounting terms used herein but not expressly defined in this Agreement shall have respective meanings given to them in accordance with GAAP in effect on the date hereof in the United States of America. Except as otherwise expressly provided hereinherein (including without limitation, any modification to the terms hereof pursuant to Section 8.12), all computations and determinations for purposes of determining compliance with the financial requirements of this Agreement shall be made in accordance with GAAP in effect in the United States of America on the date hereof and on a basis consistent with the presentation of the financial statements and projections delivered pursuant to, or otherwise referred to in, SECTIONS 6.5(ASections 6.5(a) and 6.5(E6.5(e). Notwithstanding the foregoing sentence, the financial statements required to be delivered pursuant to SECTION Section 7.1 shall be prepared in accordance with GAAP in the United States of America as in effect on the respective dates of their preparation. Unless otherwise provided for hereinherein (including, without limitation, the definition of Wholly-Owned Subsidiary), wherever any computation is to be made with respect to any Person and its Subsidiaries, such computation shall be made so as to exclude all items of income, assets and liabilities attributable to any Person which is not a Subsidiary of such Person. For purposes of the financial terms set forth herein, whenever a reference is made to a determination which is required to be made on a consolidated basis (whether in accordance with GAAP or otherwise) for the Borrower and its Subsidiaries, such determination shall be made as if each Unrestricted Subsidiary were wholly-owned by a Person not an Affiliate of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Huntsman International LLC)

Accounting Terms; Financial Statements. (a) Unless otherwise specified herein and subject to SECTION 1.2(B) below, all All accounting terms used herein but not expressly defined in this Agreement shall have the respective meanings given to them in accordance with GAAP as applied in effect on the date hereof in the United States of AmericaUSA. Except as otherwise expressly provided hereinherein (including without limitation, any modification to the terms hereof pursuant to SECTION 8.14), all computations and determinations for purposes of determining compliance with the financial requirements of this Agreement shall be made in accordance with GAAP in effect in the United States of America USA on the date hereof and on a basis consistent with the presentation of the financial statements and projections delivered pursuant to, or otherwise referred to in, SECTIONS 6.5(A) and 6.5(E)SECTION 6.5. Notwithstanding the foregoing sentence, the financial statements required to be delivered pursuant to SECTION 7.1 shall be 42 prepared in accordance with GAAP in the United States of America USA as in effect on the respective dates of their preparation. Unless otherwise provided for herein, wherever any computation is to be made with respect to any Person and its Subsidiaries, such computation shall be made so as to exclude all items of income, assets and liabilities attributable to any Person which is not a Subsidiary of such Person. For purposes of the financial terms set forth herein, whenever a reference is made to a determination which is required to be made on a consolidated basis (whether in accordance with GAAP or otherwise) for Borrowers and their Restricted Subsidiaries or for the Borrower Company and its Restricted Subsidiaries, such determination shall be made as if each Unrestricted Subsidiary were wholly-owned by a Person not an Affiliate of the any Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Huntsman Polymers Corp)

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