Compliance with Generally Accepted Accounting Principles Sample Clauses

Compliance with Generally Accepted Accounting Principles. The audited and unaudited consolidated financial statements referred to in Section 3.15(a) (taken together and including the related schedules and/or notes thereto) have been derived from the books and records of the respective business unit, are true, complete and correct and fairly present in all material respects the financial results and position of the respective business units, all in conformity with Generally Accepted Accounting Principles applied on a consistent basis (except as otherwise stated therein or in the schedules and/or notes thereto and except in the case of the Pro Forma Unaudited Balance Sheet, for the absence of footnote disclosures, the absence of cash flow statements and the absence of normal nonrecurring year-end adjustments that are not, individually or in the aggregate, material in amount) throughout the periods involved. The books and records of the respective business units have been maintained in accordance with good business and bookkeeping practices.
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Compliance with Generally Accepted Accounting Principles. The consolidated financial statements of Fresh Foods as of March 6, 1999 and for the fiscal year then ended, as filed by Fresh Foods with the SEC in Fresh Foods' Annual Report on Form 10-K for its fiscal year ended March 6, 1999, were prepared in conformity with generally accepted accounting principles, applied on a consistent basis, and are correct and complete and present fairly the financial condition of Fresh Foods as of March 6, 1999 and the results of operations of Fresh Foods for the fiscal year then ended.
Sample 1
Compliance with Generally Accepted Accounting Principles. The audited and unaudited consolidated financial statements referred to in Section 3.16(a) (taken together and including the related schedules and/or notes thereto) are true, complete and correct in all material respects and fairly present: (i) the consolidated financial position of Seller and the other members of the Seller Group as of December 31, 2001, 2002 and 2003 and September 30, 2003 and 2004, as the case may be; (ii) the consolidated results of operations, shareholders’ equity and cash flows of Seller and the other members of the Seller Group for the years ended December 31, 2001, December 31, 2002 and December 31, 2003; and (iii) the consolidated results of operations and shareholders’ equity and cash flows of Seller and the other members of the Seller Group for the nine months ended September 30, 2003 and 2004, all in conformity with Generally Accepted Accounting Principles applied on a consistent basis (except as otherwise stated therein or in the schedules and/or notes thereto and except in the case of the interim consolidated financial statements referred to in clause (a)(ii) of Section 3.16, for the absence of footnote disclosures and the absence of normal year-end adjustments which, in the aggregate, are not expected to be material) throughout the periods involved.
Sample 1

Related to Compliance with Generally Accepted Accounting Principles

  • Generally Accepted Accounting Principles Wherever in this Agreement reference is made to generally accepted accounting principles, such reference shall be deemed to be the recommendations at the relevant time of the Canadian Institute of Chartered Accountants, or any successor institute, applicable on a consolidated basis (unless otherwise specifically provided herein to be applicable on an unconsolidated basis) as at the date on which a calculation is made or required to be made in accordance with generally accepted accounting principles. Where the character or amount of any asset or liability or item of revenue or expense is required to be determined, or any consolidation or other accounting computation is required to be made for the purpose of this Agreement or any document, such determination or calculation shall, to the extent applicable and except as otherwise specified herein or as otherwise agreed in writing by the parties, be made in accordance with generally accepted accounting principles applied on a consistent basis.

  • Accounting Principles Where the character or amount of any asset or liability or item of income or expense is required to be determined or any consolidation or other accounting computation is required to be made for the purposes of this Agreement, the same shall be done in accordance with GAAP, to the extent applicable, except where such principles are inconsistent with the requirements of this Agreement.

  • Financial Accounting Practices The Borrower shall, and shall cause each of its Subsidiaries to, make and keep books, records and accounts which, in reasonable detail, accurately and fairly reflect its transactions and dispositions of its assets and maintain a system of internal accounting controls sufficient to provide reasonable assurances that (a) transactions are executed in accordance with management's general or specific authorization, (b) transactions are recorded as necessary (i) to permit preparation of financial statements in conformity with GAAP and (ii) to maintain accountability for assets, (c) access to assets is permitted only in accordance with management's general or specific authorization and (d) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

  • Operating Principles The operations of the Bank shall be conducted in accordance with the principles set out below.

  • Change in Accounting Principles If, after the date of this Agreement, there shall occur any change in GAAP from those used in the preparation of the financial statements referred to in Section 6.5 hereof and such change shall result in a change in the method of calculation of any financial covenant, standard or term found in this Agreement, either the Borrower or the Required Lenders may by notice to the Lenders and the Borrower, respectively, require that the Lenders and the Borrower negotiate in good faith to amend such covenants, standards, and terms so as equitably to reflect such change in accounting principles, with the desired result being that the criteria for evaluating the financial condition of the Borrower and its Subsidiaries shall be the same as if such change had not been made. No delay by the Borrower or the Required Lenders in requiring such negotiation shall limit their right to so require such a negotiation at any time after such a change in accounting principles. Until any such covenant, standard, or term is amended in accordance with this Section 5.3, financial covenants shall be computed and determined in accordance with GAAP in effect prior to such change in accounting principles. Without limiting the generality of the foregoing, the Borrower shall neither be deemed to be in compliance with any financial covenant hereunder nor out of compliance with any financial covenant hereunder if such state of compliance or noncompliance, as the case may be, would not exist but for the occurrence of a change in accounting principles after the date hereof.

  • Statements of Reconciliation after Change in Accounting Principles If, as a result of any change in accounting principles and policies from those used in the preparation of the Historical Financial Statements, the consolidated financial statements of Holdings and its Subsidiaries delivered pursuant to Section 5.1(b) or 5.1(c) will differ in any material respect from the consolidated financial statements that would have been delivered pursuant to such subdivisions had no such change in accounting principles and policies been made, then, together with the first delivery of such financial statements after such change, one or more statements of reconciliation for all such prior financial statements in form and substance satisfactory to Administrative Agent;

  • Tax Accounting Practices The Tax Return shall be prepared consistently with past Tax accounting practices to the extent permissible under applicable Tax Law.

  • Governing Principles 1. The implementation of this Memorandum of Understanding shall in all aspects be governed by the Regulation and subsequent amendments thereof.

  • Funding Principles A Party which spends less than its allocated share of the Consortium Budget will be funded in accordance with its actual duly justified eligible costs only. A Party that spends more than its allocated share of the Consortium Budget will be funded only in respect of duly justified eligible costs up to an amount not exceeding that share.

  • Accounting and Financial Reporting 6.1. The Bank shall maintain separate records and ledger accounts in respect of the Contributions deposited in the Trust Fund account and disbursements made therefrom.

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