Common use of GAAP Reporting Clause in Contracts

GAAP Reporting. For purposes of Sections 7.1 (a) and (b) and subject to Section 23.3, all terms of an accounting or financial nature are to be construed in accordance with GAAP, as in effect from time to time, except that, if the Company or any holder of a Note provides notice under Section 23.3 of a proposed amendment of this Agreement to provide for any change in the calculation of the financial covenants or financial covenant thresholds or terms used in this Agreement to address the effect of any accounting change referred to in said Section 23.3 (any such accounting change, a “Subsequent Change”), then such financial covenant, threshold or term is to be interpreted on the basis of GAAP as in effect and applied immediately before such Subsequent Change becomes (or would become) effective (“Static GAAP”) until this Agreement is amended as provided in said Section 23.3. During any period that any financial statement is deliverable under Section 7.1 (a) or (b) pursuant to Static GAAP, the Company shall include relevant reconciliations in reasonable detail between GAAP and Static GAAP with respect to such financial statement during such period;

GAAP Reporting. For purposes of Sections 7.1 (a) and (b) and subject to Section 23.3, all terms of an accounting or financial nature are to be construed in accordance with GAAP, as in effect from time to time, except that, if the Company or any holder of a Note provides notice under Section 23.3 of a proposed amendment of this Agreement to provide for any change in the calculation of the financial covenants or financial covenant thresholds or terms used in this Agreement to address the effect of any accounting change referred to in said Section 23.3 (any such accounting change, a “"Subsequent Change”"), then such financial covenant, threshold or term is to be interpreted on the basis of GAAP as in effect and applied immediately before such Subsequent Change becomes (or would become) effective (“"Static GAAP”") until this Agreement is amended as provided in said Section 23.3. During any period that any financial statement is deliverable under Section 7.1 (a) or (b) pursuant to Static GAAP, the Company shall include relevant reconciliations in reasonable detail between GAAP and Static GAAP with respect to such financial statement during such period;

GAAP Reporting. For purposes of Sections 7.1 (a) and (b) and subject to Section 23.3, all terms of an accounting or financial nature are to be construed in accordance with GAAP, as in effect from time to time, except that, if the Company or any holder of a Note provides notice under Section 23.3 of a proposed amendment of this Agreement to provide for any change in the calculation of the financial covenants or financial covenant thresholds or terms used in this Agreement to address the effect of any accounting change referred to in said Section 23.3 (any such accounting change, a “"Subsequent Change”"), then such financial covenant, threshold or term is to be interpreted on the basis of GAAP as in effect and applied immediately before such Subsequent Change becomes (or would become) effective (“"Static GAAP”") until this Agreement is amended as provided in said Section 23.3. During any period that any financial statement is deliverable under Section 7.1 (a) or (b) pursuant to Static GAAP, the Company shall include relevant reconciliations in reasonable detail between GAAP and Static GAAP with respect to such financial statement during such period;; 16