Common use of Change in Accounting Principles Clause in Contracts

Change in Accounting Principles. amend paragraph (c)(i) of Clause 19.5 of the Credit Agreement to provide that at the time of the notice from the Company to the Facility Agent that there have been one or more changes in any accounting policies, practices or procedures (including , without limitation, any change in the basis upon which costs are capitalised or any changes resulting from the Company’s decision at any time to adopt GAAP or IFRS), the Company shall provide either (i) a statement (providing reasonable detail) confirming the changes would have no material effect on the operation of the ratios set out in Clause 20 (Financial Covenants) or (ii) a description of the changes and the adjustments that would be required to be made to that financial information in order to cause it to reflect the accounting policies, practices or procedures prior to such change and sufficient information, in such detail and format as may be reasonably required by the Facility Agent, to enable the Lenders to make a comparison between the financial positions indicated by that financial information and by the financial information required to be delivered under Clause 19.1 (Financial Statements) and to further provide that following the delivery of such notice, the Majority Lenders shall have the right to request, and following any such request the Company shall use commercially reasonable efforts to provide, the statement contemplated by paragraph (i) above or the description contemplated by paragraph (ii) above, as applicable, relating to the financial information required to be delivered under Clause 19.1 (Financial Statements) for the most recently completed quarter.

Change in Accounting Principles. amend paragraph (c)(i) of Clause 19.5 19.4 (Change in Accounting Practices) of the Credit Agreement to provide that at the time of the notice from the Company UPC Broadband to the Facility Agent that there have been one or more changes in any accounting policies, practices or procedures (including including, without limitation, any change in the basis upon which costs are capitalised or any changes resulting from the CompanyUPC Broadband’s decision at any time to adopt GAAP or IFRS), the Company UPC Broadband shall provide either (i) a statement (providing reasonable detail) confirming the changes would have no material effect on the operation of the ratios set out in Clause 20 20.2 (Financial Covenantsratios) or (ii) a description of the changes and the adjustments that would be required to be made to that financial information in order to cause it to reflect the accounting policies, practices or procedures prior to such change and sufficient information, in such detail and format as may be reasonably required by the Facility Agent, to enable the Lenders to make a comparison between the financial positions indicated by that financial information and by the financial information required to be delivered under Clause 19.1 19.2 (Financial Statementsinformation) and to further provide that following the delivery of such notice, the Majority Lenders shall have the right to request, and following any such request the Company UPC Broadband shall use commercially reasonable efforts to provide, the statement contemplated by sub-paragraph (i) above or the description contemplated by paragraph (ii) above, as applicable, relating to the financial information required to be delivered under Clause 19.1 19.2 (Financial Statementsinformation) for the most recently completed quarter.