Common use of Calculations and Determinations Clause in Contracts

Calculations and Determinations. All interest accruing under the Loan Documents shall be calculated on the basis of actual days elapsed (including the first day but excluding the last) and a year of 360 days. Unless otherwise expressly provided herein or unless Lender otherwise consents, all financial statements and reports furnished to Lender hereunder shall be prepared and all financial computations and determinations pursuant hereto shall be made in a manner consistent with GAAP.

Appears in 3 contracts

Samples: Credit Agreement (Recovery Energy, Inc.), Credit Agreement (Recovery Energy, Inc.), Credit Agreement (Recovery Energy, Inc.)

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Calculations and Determinations. All interest accruing under the Loan Documents shall be calculated on the basis of actual days elapsed (including the first day but excluding the last) and a year of 360 days. Unless otherwise expressly provided herein or unless Lender BOTW otherwise consents, all financial statements and reports furnished to Lender BOTW hereunder shall be prepared and all financial computations and determinations pursuant hereto shall be made in a manner consistent with GAAPthe accounting system used in the preparation of the Initial Financial Statements of Borrower or with another accounting system agreed to in writing by BOTW.

Appears in 1 contract

Samples: Credit Agreement (Pyr Energy Corp)

Calculations and Determinations. All interest and fees accruing under the Loan Documents shall be calculated on the basis of actual days elapsed (including the first day but excluding the last) and a year of 360 days; provided that, with respect to interest calculations using the Base Rate, any and all such calculations shall be made on the basis of a year of 365 or 366 days, as applicable, and the actual number of days elapsed. Unless otherwise expressly provided herein or unless Lender Lenders otherwise consentsconsent, all financial statements and reports furnished to Lender Agent or Lenders hereunder shall be prepared prepared, and all financial computations and determinations pursuant hereto shall be made made, in a manner consistent accordance with GAAP.

Appears in 1 contract

Samples: Credit Agreement (Intrepid Potash, Inc.)

Calculations and Determinations. All interest accruing under the Loan Documents shall be calculated on the basis of actual days elapsed (including the first day but excluding the last) and a year of 360 days. Unless otherwise expressly provided herein or unless Lender BOTW otherwise consents, all financial statements and reports furnished to Lender BOTW hereunder shall be prepared and all financial computations and determinations pursuant hereto shall be made in a manner consistent with GAAPthe accounting system used in the preparation of the Initial Financial Statement of Borrower or with another accounting system agreed to in writing by BOTW. II.

Appears in 1 contract

Samples: Credit Agreement (Kodiak Oil & Gas Corp)

Calculations and Determinations. All interest accruing under the Loan Documents shall be calculated on the basis of actual days elapsed (including the first day but excluding the last) and a year of 360 days. Unless otherwise expressly provided herein or unless Lender BOTW otherwise consents, all financial statements and reports furnished to Lender BOTW hereunder shall be prepared and all financial computations and determinations pursuant hereto shall be made in a manner consistent accordance with GAAPGAAP or with another accounting system agreed to in writing by BOTW.

Appears in 1 contract

Samples: Credit Agreement (Hawker Energy, Inc.)

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Calculations and Determinations. All interest and fees accruing under the Loan Documents shall be calculated on the basis of actual days elapsed (including the first day but excluding the last) and a year of 360 days. Unless otherwise expressly provided herein or unless Lender USB otherwise consents, all financial statements and reports furnished to Lender USB hereunder shall be prepared and all financial computations and determinations pursuant hereto shall be made in a manner consistent accordance with GAAP.

Appears in 1 contract

Samples: Credit Agreement (Infinity Inc)

Calculations and Determinations. All interest accruing under the Loan Documents shall be calculated on the basis of actual days elapsed (including the first day but excluding the last) and a year of 360 days. Unless otherwise expressly provided herein or unless Lender BOK otherwise consents, all financial statements and reports furnished to Lender BOK hereunder shall be prepared and all financial computations and determinations pursuant hereto shall be made in a manner consistent accordance with GAAPGAAP or with another accounting system agreed to in writing by BOK.

Appears in 1 contract

Samples: Credit Agreement (Carbon Energy Corp)

Calculations and Determinations. All interest accruing under the Loan Documents shall be calculated on the basis of actual days elapsed (including the first day but excluding the last) and a year of 360 days. Unless otherwise expressly provided herein or unless Lender CNB otherwise consents, all financial statements and reports furnished to Lender CNB hereunder shall be prepared and all financial computations and determinations pursuant hereto shall be made in a manner consistent accordance with GAAPgenerally accepted accounting principles.

Appears in 1 contract

Samples: Revolving Credit Agreement (Foreland Corp)

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