Common use of Changes in Accounting Principles Clause in Contracts

Changes in Accounting Principles. If any changes in accounting principles, from those used in the preparation of the financial statements of the Borrower or its Subsidiaries for the 2008 fiscal year based on GAAP, occur by reason of any change in the rules, regulations, pronouncements, opinions or other requirements of the Financial Accounting Standards Board (or any successor thereto or agency with similar function), or the adoption by the Borrower or any of its Subsidiaries of the International Financial Reporting Standards (“IFRS”), and such change in accounting principles results in a change in the method or results of calculation of financial covenants or the terms related thereto contained in this Agreement, the Borrower shall, at its option, either (a) furnish to the Administrative Agent, together with each delivery of the financial statements required to be delivered hereby, a written reconciliation setting forth the differences that would have resulted if such financial statements had been prepared utilizing existing GAAP (in which case the method and calculation of financial covenants and the terms related thereto hereunder shall continue to be determined in accordance with existing GAAP) or (b) agree with the Administrative Agent to amend such financial covenants or terms in such manner as the Administrative Agent shall require in order to reflect fairly such changes so that the criteria for evaluating the financial condition of the Borrower and its Subsidiaries shall be the same in commercial effect after, as well as before, such changes are made (in which case the method and calculation of financial covenants and the terms related thereto hereunder shall be determined in the manner so agreed).

Changes in Accounting Principles. (a) If any changes in accounting principles, principles from those used in the preparation of the financial statements referred to in this Agreement are hereafter occasioned by the promulgation of the Borrower or its Subsidiaries for the 2008 fiscal year based on GAAP, occur by reason of any change in the rules, regulations, pronouncements, or opinions of, or required by, the Financial Accounting Standards Board or the American Institute of Certified Public Accountants (or successors thereto or agencies with similar functions), or there shall occur any change in Borrower's or any of its Subsidiaries' fiscal or tax years and, as a result of any such changes, there shall result a change in the method of calculating any of the financial covenants, negative covenants, standards, or other requirements terms or conditions found in this Agreement, or (b) if Borrower, for reasonable business purposes, shall desire to change such accounting principles or the application thereof (which change shall be consistent with accounting principles then in effect pursuant to rules, regulations, pronouncements, or opinions of the Financial Accounting Standards Board (or any successor thereto or agency with similar function), or the adoption by the Borrower or any American Institute of its Subsidiaries of the International Financial Reporting Standards (“IFRS”), Certified Public Accountants) and such desired change in accounting principles results would result in a change in the method of calculating any of the financial covenants, negative covenants, standards, or results of calculation of financial covenants or the other terms related thereto contained and conditions found in this Agreement, then the Borrower shall, at its option, either (a) furnish parties hereto agree to the Administrative Agent, together with each delivery of the financial statements required to be delivered hereby, a written reconciliation setting forth the differences that would have resulted if such financial statements had been prepared utilizing existing GAAP (enter into negotiations in which case the method and calculation of financial covenants and the terms related thereto hereunder shall continue to be determined in accordance with existing GAAP) or (b) agree with the Administrative Agent order to amend such financial covenants or terms provisions and the definition of "GAAP" set forth in such manner Section 1.1 so as the Administrative Agent shall require in order to equitably reflect fairly such changes so with the desired result that the criteria for evaluating the financial condition of the Borrower and its Subsidiaries shall be the same in commercial effect after, as well as before, after such changes are made (in which case the method and calculation of financial covenants and the terms related thereto hereunder shall be determined in the manner so agreed)as if such changes had not been made.

Changes in Accounting Principles. (a) If any changes in accounting principles, principles from those used in the preparation of the financial statements referred to in this Agreement are hereafter occasioned by the promulgation of the Borrower or its Subsidiaries for the 2008 fiscal year based on GAAP, occur by reason of any change in the rules, regulations, pronouncements, or opinions of, or required by, the Financial Accounting Standards Board or the American Institute of Certified Public Accountants (or successors thereto or agencies with similar functions), or there shall occur any change in Company's or any of its Subsidiaries' fiscal or tax years and, as a result of any such changes, there shall result a change in the method of calculating any of the financial covenants, negative covenants, standards, or other requirements terms or conditions found in this Agreement, or (b) if Company, for reasonable business purposes, shall desire to change such accounting principles or the application thereof (which change shall be consistent with accounting principles then in effect pursuant to rules, regulations, pronouncements, or opinions of the Financial Accounting Standards Board (or any successor thereto or agency with similar function), or the adoption by the Borrower or any American Institute of its Subsidiaries of the International Financial Reporting Standards (“IFRS”), Certified Public Accountants) and such desired change in accounting principles results would result in a change in the method of calculating any of the financial covenants, negative covenants, or results of calculation of financial covenants or the other terms related thereto contained and conditions found in this Agreement, then the Borrower shall, at its option, either (a) furnish Noteholders and Company agree to the Administrative Agent, together with each delivery of the financial statements required to be delivered hereby, a written reconciliation setting forth the differences that would have resulted if such financial statements had been prepared utilizing existing GAAP (enter into negotiations in which case the method and calculation of financial covenants and the terms related thereto hereunder shall continue to be determined in accordance with existing GAAP) or (b) agree with the Administrative Agent order to amend such financial covenants or terms provisions and the definition of "GAAP" set forth in such manner Section 1.1 so as the Administrative Agent shall require in order to equitably reflect fairly such changes so with the desired result that the criteria for evaluating the financial condition and performance of the Borrower Company and its Subsidiaries shall be the same in commercial effect after, as well as before, after such changes are made (in which case the method and calculation of financial covenants and the terms related thereto hereunder shall be determined in the manner so agreed)as if such changes had not been made.

Changes in Accounting Principles. (a) If any changes in accounting principles, principles from those used in the preparation of the financial statements referred to in this Agreement are hereafter occasioned by the promulgation of the Borrower or its Subsidiaries for the 2008 fiscal year based on GAAP, occur by reason of any change in the rules, regulations, pronouncements, or opinions of, or required by, the Financial Accounting Standards Board or the American Institute of Certified Public Accountants (or successors thereto or agencies with similar functions), or there shall occur any change in Company’s or any of its Subsidiaries’ fiscal or tax years and, as a result of any such changes, there shall result a change in the method of calculating any of the financial covenants, negative covenants, standards, or other requirements terms or conditions found in this Agreement, or (b) if Company, for reasonable business purposes, shall desire to change such accounting principles or the application thereof (which change shall be consistent with accounting principles then in effect pursuant to rules, regulations, pronouncements, or opinions of the Financial Accounting Standards Board (or any successor thereto or agency with similar function), or the adoption by the Borrower or any American Institute of its Subsidiaries of the International Financial Reporting Standards (“IFRS”), Certified Public Accountants) and such desired change in accounting principles results would result in a change in the method of calculating any of the financial covenants, negative covenants, or results of calculation of financial covenants or the other terms related thereto contained and conditions found in this Agreement, then the Borrower shall, at its option, either (a) furnish Noteholders and Company agree to the Administrative Agent, together with each delivery of the financial statements required to be delivered hereby, a written reconciliation setting forth the differences that would have resulted if such financial statements had been prepared utilizing existing GAAP (enter into negotiations in which case the method and calculation of financial covenants and the terms related thereto hereunder shall continue to be determined in accordance with existing GAAP) or (b) agree with the Administrative Agent order to amend such financial covenants or terms provisions and the definition of “GAAP” set forth in such manner Section 1.1 so as the Administrative Agent shall require in order to equitably reflect fairly such changes so with the desired result that the criteria for evaluating the financial condition and performance of the Borrower Company and its Subsidiaries shall be the same in commercial effect after, as well as before, after such changes are made (in which case the method and calculation of financial covenants and the terms related thereto hereunder shall be determined in the manner so agreed)as if such changes had not been made.

Changes in Accounting Principles. (a) If any changes in accounting principles, principles from those used in the preparation of the financial statements Initial Financial Statements are hereafter occasioned by the promulgation of the Borrower or its Subsidiaries for the 2008 fiscal year based on GAAP, occur by reason of any change in the rules, regulations, pronouncements, or opinions of, or required by, the Financial Accounting Standards Board or the American Institute of Certified Public Accountants (or successors thereto or agencies with similar functions), or there shall occur any change in any Borrower's fiscal or tax years and, as a result of any such changes, there shall result a change in the method of calculating any of the financial covenants, negative covenants, standards, or other requirements terms or conditions found in this Agreement or any of the other Loan Documents, or (b) if any Borrower, for reasonable business purposes, shall desire to change such accounting principles or the application thereof (which change shall be consistent with accounting principles then in effect pursuant to rules, regulations, pronouncements, or opinions of the Financial Accounting Standards Board (or any successor thereto or agency with similar function), or the adoption by the Borrower or any American Institute of its Subsidiaries of the International Financial Reporting Standards (“IFRS”), Certified Public Accountants) and such desired change in accounting principles results would result in a change in the method or results of calculation of financial covenants or the terms related thereto contained in this Agreement, the Borrower shall, at its option, either (a) furnish to the Administrative Agent, together with each delivery calculating any of the financial statements required covenants, negative covenants or other terms and conditions found in this Agreement or any of the other Loan Documents, then the parties hereto agree to be delivered hereby, a written reconciliation setting forth the differences that would have resulted if such financial statements had been prepared utilizing existing GAAP (enter into negotiations in which case the method and calculation of financial covenants and the terms related thereto hereunder shall continue to be determined in accordance with existing GAAP) or (b) agree with the Administrative Agent order to amend such financial covenants or terms provisions and the definition of GAAP set forth in such manner subsection 1.1 so as the Administrative Agent shall require in order to reflect fairly equitably such changes so with the desired result that the criteria for evaluating the financial condition and performance of the Borrower and its Subsidiaries Borrowers shall be the same in commercial effect after, as well as before, after such changes are made (in which case the method and calculation of financial covenants and the terms related thereto hereunder shall be determined in the manner so agreed)as if such changes had not been made.