Common use of Method of Accounting; Fiscal Year Clause in Contracts

Method of Accounting; Fiscal Year. (a) The Borrower shall not change the method of accounting employed in the preparation of any financial statements furnished to the Lender under the provisions of Section 6.1.1 (Financial Statements), unless required to conform to GAAP and on the condition that the Borrower's accountants shall furnish such information as the Lender may request to reconcile the changes with the Borrower's prior financial statements.

Appears in 2 contracts

Samples: Financing and Security Agreement (Weston Roy F Inc), Financing and Security Agreement (Sensytech Inc)

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Method of Accounting; Fiscal Year. (a) The Borrower shall not change the method of accounting employed in the preparation of any financial statements furnished to the Lender under the provisions of Section 6.1.1 (Financial Statements), unless required to conform to GAAP and on the condition that the Borrower's ’s accountants shall furnish such information as the Lender may request to reconcile the changes with the Borrower's ’s prior financial statements.

Appears in 1 contract

Samples: Financing and Security Agreement (ARGON ST, Inc.)

Method of Accounting; Fiscal Year. (a) The Borrower shall will not change the method of accounting employed in the preparation of any financial statements furnished to the Lender under the provisions of Section 6.1.1 4.1.11 (Financial Statements), unless required to conform to GAAP and on the condition that the Borrower's ’s accountants shall furnish such information as the Lender may request to reconcile the changes with the Borrower's ’s prior financial statements.

Appears in 1 contract

Samples: Financing and Security Agreement (Pec Solutions Inc)

Method of Accounting; Fiscal Year. (a) The Borrower Borrowers shall not change the method of accounting employed in the preparation of any financial statements furnished to the Lender under the provisions of Section 6.1.1 (Financial Statements)) of this Agreement, unless required to conform to GAAP and on the condition that the Borrower's Borrowers' accountants shall furnish such information as the Lender may request to reconcile the changes with the Borrower's Borrowers' prior financial statements.

Appears in 1 contract

Samples: Financing and Security Agreement (Paradise Color Inc)

Method of Accounting; Fiscal Year. (a) The Borrower shall not change the method of accounting employed in the preparation of any financial statements furnished to the Lender under the provisions of Section 6.1.1 (Financial Statements)) of this Agreement, unless required to conform to GAAP and on the condition that the Borrower's accountants shall furnish such information as the Lender may request to reconcile the changes with the Borrower's prior financial statements.

Appears in 1 contract

Samples: Financing and Security Agreement (Glasstech Inc)

Method of Accounting; Fiscal Year. (a) The Borrower shall not change the method of accounting employed in the preparation of any financial statements furnished to the Lender under the provisions of Section 6.1.1 (Financial Statements), unless required to conform to GAAP and on the condition that the Borrower's accountants shall furnish such information as the Lender may request to reconcile the changes with the Borrower's prior financial statements.. (b) The Borrower will not change its fiscal year from a year ending on March 31. 6.2.14

Appears in 1 contract

Samples: Financing and Security Agreement (Halifax Corp)

Method of Accounting; Fiscal Year. (a) The Borrower shall not change the method of accounting employed in the preparation of any financial statements furnished to the Lender under the provisions of Section 6.1.1 (Financial Statements), unless required to conform to GAAP and on the condition that the Borrower's accountants shall furnish such information as the Lender may request to reconcile the changes with the Borrower's prior financial statements.

Appears in 1 contract

Samples: Financing and Security Agreement (Sensys Technologies Inc)

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Method of Accounting; Fiscal Year. (a) The Borrower Each Obligor agrees that: it shall not change the method of accounting employed in the preparation of any financial statements furnished to the Lender under the provisions of Section 6.1.1 (Financial Statements), unless required to conform to GAAP and on the condition that the Borrower's Obligors’ accountants shall furnish such information as the Lender may request to reconcile the changes with the Borrower's Obligors’ prior financial statements; and it will not change its fiscal year from a year ending on December 31.

Appears in 1 contract

Samples: Financing and Security Agreement (Optelecom-Nkf, Inc.)

Method of Accounting; Fiscal Year. (a) The Borrower shall not change the method of accounting employed in the preparation of any financial statements furnished to the Lender under the provisions of Section 6.1.1 5.1.1 (Financial Statements), unless required to conform to GAAP and on the condition that the Borrower's accountants shall furnish such information as the Lender may request to reconcile the changes with the Borrower's prior financial statements.

Appears in 1 contract

Samples: Reimbursement Agreement (American Woodmark Corp)

Method of Accounting; Fiscal Year. (a) The Borrower Each Obligor agrees that: it shall not change the method of accounting employed in the preparation of any financial statements furnished to the Lender under the provisions of Section 6.1.1 (Financial Statements), unless required to conform to GAAP and on the condition that the Borrower's Obligors' accountants shall furnish such information as the Lender may request to reconcile the changes with the Borrower's Obligors' prior financial statements; and it will not change its fiscal year from a year ending on December 31.

Appears in 1 contract

Samples: Financing and Security Agreement (Optelecom Inc)

Method of Accounting; Fiscal Year. (a) The Borrower Borrowers shall not change the method of accounting employed in the preparation of any financial statements furnished to the Lender under the provisions of Section 6.1.1 (Financial Statements)) of this Agreement, unless required to conform to GAAP and on the condition that the Borrower's Borrowers' accountants shall furnish such information as the Lender may request to reconcile the changes with the Borrower's Borrowers' prior financial statements.

Appears in 1 contract

Samples: Financing and Security Agreement (Flanders Corp)

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