Certain Definitions Applicable Gaap Clause Samples

The 'Certain Definitions; Applicable GAAP' clause establishes specific meanings for key terms used throughout the agreement and clarifies that references to financial standards are based on Generally Accepted Accounting Principles (GAAP) as in effect at a specified time. This clause typically lists or references defined terms and states that all financial calculations or statements must adhere to the relevant version of GAAP, ensuring consistency in interpretation. Its core function is to prevent ambiguity by standardizing terminology and accounting standards, thereby reducing the risk of disputes over definitions or financial reporting.
Certain Definitions Applicable Gaap 
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Related to Certain Definitions Applicable Gaap

  • Certain Definitions As used in this Agreement, the following terms shall have the following respective meanings:

  • Financial definitions In this Agreement:

  • Specific Definitions The following terms used in this Agreement shall have the following meanings:

  • Captions: Certain Definitions The captions of the various sections and paragraphs of this Agreement have been inserted only for the purposes of convenience; such captions are not a part of this Agreement and shall not be deemed in any manner to modify, explain, enlarge or restrict any of the provisions of this Agreement. As used in this Agreement the term “person” shall mean and include an individual, a partnership, a joint venture, a corporation, a limited liability company, a trust, an unincorporated organization and a government or any department or agency thereof.

  • 1Definitions In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms have the meanings set forth in this Section 1.1: