Common use of Limitation on Accounting Changes Clause in Contracts

Limitation on Accounting Changes. Make or permit any material change in accounting policies or reporting practices without advising TCO, unless such changes are required by GAAP or applicable law; provided, that (a) compliance with the covenants set forth on this Schedule 4 shall be determined on the basis of GAAP without giving effect to the relevant change and (b) in connection with any such change Tensar Holdings will provide TCO with guidance regarding how to reconcile financial statements prepared after the implementation of such material change with financial statements provided to TCO and prepared before the implementation of such material change.

Limitation on Accounting Changes. Make or permit any material change in accounting policies or reporting practices without advising TCO, unless such changes are required by GAAP or applicable law; provided, that (a) compliance with the covenants set forth on this Schedule 4 shall be determined on the basis of GAAP without giving effect to the relevant change and (b) in connection with any such change Tensar Holdings will provide TCO with guidance regarding how to reconcile financial statements prepared after the implementation Schedule 4, Negative Covenants of such material change with financial statements provided to TCO and prepared before the implementation of such material change.

Limitation on Accounting Changes. Make or permit any material change in accounting policies or reporting practices without advising TCOTCH, unless such changes are required by GAAP or applicable law; provided, that (a) compliance with the covenants set forth on this Schedule 4 shall be determined on the basis of GAAP without giving effect to the relevant change and (b) in connection with any such change Tensar Holdings will provide TCO TCH with guidance regarding how to reconcile financial statements prepared after the implementation of such material change with financial statements provided to TCO TCH and prepared before the implementation of such material change.