Common use of Change in accounting expressions and policies Clause in Contracts

Change in accounting expressions and policies. If, by reason of change in format or GAAP or other relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 alter from those in the accounts and financial statements for the Borrower for the year ended 31 December 2006, the relevant definitions contained in Clause 1.1 and the provisions of Clause 12.4 shall be deemed modified in such manner as the Agent, acting with the authorisation of the Majority Lenders, shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 8 contracts

Samples: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.)

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Change in accounting expressions and policies. If, by reason of change in format or GAAP or other the relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 7.3 alter from those in the accounts and financial statements for the Borrower Guarantor for the year ended ending 31 December 20062008, the relevant definitions contained in Clause 1.1 this Agreement and the provisions of Clause 12.4 7.14 shall be deemed modified in such manner as the Agent, acting with the authorisation of the Majority Lenders, Security Trustee shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 2 contracts

Samples: Sponsor Construction And (Ocean Rig UDW Inc.), Sponsor Construction (Ocean Rig UDW Inc.)

Change in accounting expressions and policies. If, by reason of change in format or GAAP or other the relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 7.3 alter from those in the accounts and financial statements for the Borrower Guarantor for the year ended ending 31 December 20062009, the relevant definitions contained in Clause 1.1 this Agreement and the provisions of Clause 12.4 7.14 shall be deemed modified in such manner as the Agent, acting with the authorisation of the Majority Lenders, Security Trustee shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 2 contracts

Samples: Ocean Rig UDW Inc., Ocean Rig UDW Inc.

Change in accounting expressions and policies. If, by reason of change in format or US GAAP or other relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 alter from those in the accounts and financial statements for the Borrower Group for the year Financial Year ended 31 December 20062017, the relevant definitions contained in Clause 1.1 and the provisions of Clause 12.4 shall be deemed modified in such manner as the Agent, acting with the authorisation of the Majority Lenders, shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 2 contracts

Samples: Agreement (Navios Maritime Containers Inc.), Execution Version (Navios Maritime Containers Inc.)

Change in accounting expressions and policies. If, by reason of change in format or GAAP or other relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 11.3 alter from those in the accounts and financial statements for the Borrower Group for the year ended ending 31 December 20062011, the relevant definitions contained in Clause 1.1 and the provisions of Clause 12.4 12.3 shall be deemed modified in such manner as the Agent, acting with the authorisation of the Majority Lenders, shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 2 contracts

Samples: Box Ships Inc., Box Ships Inc.

Change in accounting expressions and policies. If, by reason of change in format or GAAP (including IFRS) or other relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 alter from those in the accounts and financial statements for the Borrower for the year ended 31 December 20062010, the relevant definitions contained in Clause 1.1 and the provisions of Clause 12.4 shall be deemed modified in such manner as the Agent, acting with the authorisation of the Majority Lenders, shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 2 contracts

Samples: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.)

Change in accounting expressions and policies. If, by reason of change in format or GAAP or other relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 alter from those in the accounts and financial statements for the Borrower for the year ended 31 December 20062007, the relevant definitions contained in Clause 1.1 and the provisions of Clause 12.4 shall be deemed modified in such manner as the Agent, acting with the authorisation of the Majority Lenders, shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Change in accounting expressions and policies. If, by reason of change in format or US GAAP or other relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 (Provision of financial statements) alter from those in the accounts and financial statements for the Borrower Group for the year Financial Year ended 31 December 20062022, the relevant definitions contained in Clause 1.1 (Definitions) and the provisions of Clause 12.4 (Financial covenants) shall be deemed modified in such manner as the Agent, acting with the authorisation of the Majority Lenders, shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 1 contract

Samples: Agreement (Navios Maritime Partners L.P.)

Change in accounting expressions and policies. If, by reason of change in format or US GAAP or other relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 11.4 alter from those in the accounts and financial statements for the Borrower Group for the year ended ending on 31 December 20062014, the relevant definitions contained in Clause 1.1 and the provisions of Clause 12.4 12.3 shall be deemed modified in such manner as the Agent, acting with the authorisation of all the Majority Lenders, shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 1 contract

Samples: Capital Product Partners L.P.

Change in accounting expressions and policies. If, by reason of change in format or GAAP or other relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 11.5 alter from those in the accounts and financial statements for the Borrower for the year ended 31 December 20062007, the relevant definitions contained in Clause 1.1 and the provisions of Clause 12.4 12.7 shall be deemed modified in such manner as the Agent, acting with the authorisation of the Majority Lenders, shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

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Change in accounting expressions and policies. If, by reason of change in format or GAAP or other relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 11.3 alter from those in the accounts and financial statements for the Borrower Group for the year ended ending 31 December 20062011, the relevant definitions contained in Clause 1.1 and the provisions of Clause 12.4 12.3 shall be deemed modified in such manner as the Agent, acting with the authorisation of the Majority Lenders, Lender shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 1 contract

Samples: Box Ships Inc.

Change in accounting expressions and policies. If, by reason of change in format or US GAAP or other relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 11.4 alter from those in the accounts and financial statements for the Borrower Group for the year ended ending on 31 December 20062015, the relevant definitions contained in Clause 1.1 and the provisions of Clause 12.4 12.3 shall be deemed modified in such manner as the Facility Agent, acting with the authorisation of all the Majority Lenders, shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 1 contract

Samples: Capital Product Partners L.P.

Change in accounting expressions and policies. If, by reason of change in format or US GAAP or other relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 (Provision of financial statements) alter from those in the accounts and financial statements for the Borrower Group for the year Financial Year ended 31 December 20062019, the relevant definitions contained in Clause 1.1 (Definitions) and the provisions of Clause 12.4 (Financial covenants) shall be deemed modified in such manner as the Agent, acting with the authorisation of the Majority Lenders, shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 1 contract

Samples: Agreement (Navios Maritime Partners L.P.)

Change in accounting expressions and policies. If, by reason of change in format or US GAAP or other relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 (Provision of financial statements) alter from those in the accounts and financial statements for the Borrower Group for the year Financial Year ended 31 December 20062020, the relevant definitions contained in Clause 1.1 (Definitions) and the provisions of Clause 12.4 (Financial covenants) shall be deemed modified in such manner as the Agent, acting with the authorisation of the Majority Lenders, shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 1 contract

Samples: Agreement (Navios Maritime Partners L.P.)

Change in accounting expressions and policies. If, by reason of change in format or GAAP or other relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 11.5 alter from those in the accounts and financial statements for the Borrower for the year ended 31 December 20062008, the relevant definitions contained in Clause 1.1 and the provisions of Clause 12.4 12.7 shall be deemed modified in such manner as the Agent, acting with the authorisation of the Majority Lenders, shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Change in accounting expressions and policies. If, by reason of change in format or GAAP or other the relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.6 11.3 alter from those in the accounts and financial statements for the Borrower Guarantor for the year ended ending 31 December 200620072012, the relevant definitions contained in Clause clause 1.1 of the Loan Agreement and the provisions of Clause 12.4 11.15 shall be deemed modified in such manner as the Agent, acting with the authorisation of the Majority Lenders, Lender shall require to take account of such different expressions but otherwise to maintain in all respects the substance of those provisions.

Appears in 1 contract

Samples: Agreement (DryShips Inc.)

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