Accounting Event definition

Accounting Event means the receipt by the audit committee of the board of directors of the Company of a written report in accordance with Statement on Auditing Standards (“SAS”) No. 97, “Amendment to SAS No. 50 – Reports on the Application of Accounting Principles”, from the Company’s independent auditors, provided at the request of the management of the Company, to the effect that, as a result of a change in accounting rules after the date hereof, the Company must either (i) account for all or any portion of the Purchase Contracts as derivatives under SFAS 133 (or otherwise mark-to-market or measure at fair value all or any portion of the Purchase Contracts, with changes appearing in the Company’s income statement) or (ii) account for the Units using the if-converted method under SFAS 128, and that such accounting treatment will cease to apply upon redemption of the Senior Notes.
Accounting Event means the receipt by the Issuer of an opinion of an Authorized Public Accountant in Finland (reputable and experienced in such matters) to the effect that, as a result of a change in the applicable accounting standards or interpretation thereof, the equity treatment of the Capital Notes as “equity” in full in the Issuer’s consolidated financial statements has or will cease.
Accounting Event has the meaning set forth in the Supplemental Indenture.

Examples of Accounting Event in a sentence

  • Accounting Event means that an opinion of a recognised accountancy firm of international standing has been delivered to the Issuer and the Fiscal Agent, confirming that the funds raised through the issue of the Notes must not, or must no longer, be recorded as “liabilities” pursuant to IFRS, or any other accounting standards that may replace the IFRS, for the purposes of the consolidated financial statements of the Issuer.

  • Any final rules implemented as a result of the DP/2018/1 Paper may determine the timing and the manner of implementation of such rules and may in turn impact the earliest timing when the Accounting Event may occur (which could be earlier than the last day of application of the current IFRS rules).

  • Accordingly, the Issuer may be entitled to exercise its option to redeem the Notes pursuant to an Accounting Event as a result of a change in accounting principles or methodology (or application thereof) either in IFRS-IASB or IFRS-EU.In June 2018, the IASB (International Accounting Standards Board) published the discussion paper DP/2018/1 on “Financial Instruments with Characteristics of Equity”, (the “DP/2018/1 Paper”).


More Definitions of Accounting Event

Accounting Event means that a recognised accountancy firm, acting upon instructions of the Issuer, has delivered a letter or report to the Issuer, stating that as a result of a change in accounting principles or methodology (or the application thereof) since the Issue Date, the Euro 10 Year Non- Call Notes may not or may no longer be recorded as “equity” in full in any of the consolidated financial statements of the Issuer pursuant to either IFRS-IASB or IFRS-EU or any other accounting standards that may replace IFRS-IASB and/or IFRS-EU for the purposes of preparing the annual, semi-annual or quarterly consolidated financial statements of the Issuer.
Accounting Event means that an opinion of a recognised accounting firm has been delivered to the Issuer or ZIG, stating that obligations of the Issuer in respect of the Notes must not, or must no longer be, recorded under the Initial Accounting Treatment Methodology specified in the applicable Pricing Supplement (either “liabilities” or “equity”), (being the presentation of the Notes under IFRS as at the Issue Date) on the balance sheet of ZIG published in its annual consolidated financial statements pursuant to IFRS and this cannot be avoided by the Issuer or, as the case may be, ZIG taking such reasonable measures as the Issuer or ZIG (acting in good faith) deems appropriate and, prior to the publication of any notice of substitution, variation or redemption pursuant to Condition 6 (Redemption, Substitution or Variation, Purchase and Options) by reason of such event, the delivery by the Issuer to the Trustee of such opinion;
Accounting Event means that an opinion of a recognised accountancy firm of international standing has been delivered to the Issuer and the Fiscal Agent, stating that as a result of a change or amendment to IFRS or any other generally accepted accounting standards adopted by the Issuer (the “Relevant Accounting Standard”), the Securities must not or must no longer be recorded as “equity” of the Issuer pursuant to the Relevant Accounting Standard.
Accounting Event means that an opinion of a recognised accountancy firm of international standing has been delivered to the Issuer and the Fiscal Agent, stating that, as a result of a change in the accounting rules or methodology (or the application thereof) effective since 28 October 2019, the Bonds may not or may no longer, from the implementation date of the relevant new International Financial Reporting Standards ("IFRS") or any other accounting standards that may replace IFRS, be recorded as "equity" in full pursuant to IFRS or any other accounting standards that may replace IFRS for the purposes of the annual, semi- annual or quarterly consolidated financial statements of the Issuer.The Issuer may notify the redemption of the Bonds as a result of the occurrence of an Accounting Event from (and including) the date on which the change in the relevant IFRS rules or any other accounting standards that may replace IFRS for the purposes of the consolidated financial statements of the Issuer (the "Change") is officially adopted, which may be before the Change has come into effect.If an Equity Credit Rating Event has occurred, then the Issuer may redeem all, but not some only, of the Bonds at any time, at (i) 101 per cent. of their principal amount where such redemption occurs prior to 30 January 2025 (being the date falling three months prior to the First Step-up Date), or (ii) 100 per cent. of their principal amount where such redemption occurs on or after 30 January 2025 (being the date falling three months prior to the First Step-up Date), in each case together with any accrued interest and any Arrears of Interest (including any Additional Interest Amounts thereon), provided that the due date for redemption of which notice hereunder may be given shall be no earlier than the last calendar day before the date on which the Bonds are assigned a level of equity credit that is lower than the level or equivalent level of equity credit assigned to the Bonds by the relevant Rating Agency on 28 October 2019, or if such equity credit was not assigned on 28 October 2019, at the date when the equity credit was assigned for the first time.For the purpose hereof:
Accounting Event means the receipt by the audit committee of NextEra Energy’s Board of Directors (or, if there is no such committee, by such Board of Directors) of a written report in accordance with Statement on Auditing Standards (“SAS”) No. 97, “Amendment to SAS No. 50—Reports on the Application of Accounting Principles,” from NextEra Energy’s independent auditors, provided at the request of NextEra Energy management, to the effect that, as a result of a change in accounting rules that becomes effective after , NextEra Energy must either (a) account for the Purchase Contracts as derivatives or otherwise mark-to-market or measure the fair value of all or any portion of the Purchase Contracts with changes appearing in NextEra Energy’s income statement) or (b) account for the Equity Units using the if-converted method, and that such accounting treatment will cease to apply upon redemption of the Debentures of the Series.
Accounting Event means that an opinion of a recognised accountancy firm of international standing has been delivered to the Issuer and the Fiscal Agent, stating that the funds raised through the issue of the Notes must not or must no longer be recorded as “equity” in full pursuant to the International Financial Reporting Standards (“IFRS”) or any other accounting standards that may replace IFRS for the purposes of the annual consolidated financial statements of the Issuer.
Accounting Event means (i)(A) the receipt by the Bank of an opinion of a recognised international accounting firm stating that on or after the Issue Date of the Notes, or if the Notes comprise more than one Tranche, the Issue Date of the first Tranche, the obligations in respect of the Notes must not or must no longer be recorded as liabilities in the Bank’s consolidated financial statements prepared in accordance with IFRS; and