Accounting Principles means the international financial reporting standards (IFRS) within the meaning of Regulation 1606/2002/EC (or as otherwise adopted or amended from time to time).
Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.
Agreed Accounting Principles means GAAP; provided, however, that, with respect to any matter as to which there is more than one generally accepted accounting principle, Agreed Accounting Principles means the generally accepted accounting principles consistently applied in the preparation of the Latest Audited Company Balance Sheet; provided, further, that, for purposes of the Agreed Accounting Principles, no known adjustments for items or matters, regardless of the amount thereof, shall be deemed to be immaterial.
Applicable Accounting Principles means the most recent and up-to-date US GAAP applicable at any relevant time;
U.S. GAAP means United States generally accepted accounting principles.
GAAP means generally accepted accounting principles as in effect from time to time in the United States of America.
Generally Accepted Accounting Principles means the recognised consensus or substantial authoritative support in a Party, with respect to the recording of revenues, expenses, costs, assets and liabilities; the disclosure of information; and the preparation of financial statements. These standards may encompass broad guidelines of general application as well as detailed standards, practices and procedures;
UK generally accepted accounting principles and practices means the principles and practices prevailing from time to time in the United Kingdom which are generally regarded as permissible or legitimate by the accountancy profession irrespective of the degree of use.
UK GAAP means generally accepted accounting principles in the United Kingdom.
IFRS means International Financial Reporting Standards.
PRC GAAP means the generally accepted accounting principles in the PRC.
Australian Accounting Standards means the standards of that name maintained by the Australian Accounting Standards Board created by section 226 of the Australian Securities and Investments Commission Act 2001.
Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.
International Accounting Standards means International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and related Interpretations (SIC-IFRIC interpretations), subsequent amendments to those standards and related interpretations, and future standards and related interpretations issued or adopted by the International Accounting Standards Board (IASB);
Canadian GAAP means accounting principles generally accepted in Canada;
Practice of public accounting means the performance or the offering to perform, by a person holding oneself out to the public as a certified public accountant or a licensed public accountant, one or more kinds of professional services involving the use of accounting, attest, or auditing skills, including the issuance of reports on financial statements, or of one or more kinds of management advisory, financial advisory, or consulting services, or the preparation of tax returns or the furnishing of advice on tax matters. However, with respect to licensed public accountants, the “practice of public accounting” shall not include attest or auditing services or the rendering of an opinion attesting to the reliability of any representation embracing financial information.
Fixed GAAP Date means the Issue Date; provided that at any time after the Issue Date, the Company may by written notice to the Trustee elect to change the Fixed GAAP Date to be the date specified in such notice, and upon such notice, the Fixed GAAP Date shall be such date for all periods beginning on and after the date specified in such notice.
Accounting Statement means for each financial year, the following statements, namely-
Accounting Standards means the standards of accounting or any addendum thereto for companies or class of companies referred to in section 133;
Accounting Policies means the accounting policies, principles, practices and methodologies set forth in Exhibit A, which have been used in the preparation of the Financial Statements, the Balance Sheet and the Sample Closing Statement and will be used in the preparation of the Initial Closing Statement, Buyer Closing Statement and Final Closing Statement.
Generally Applicable Law means the federal law of the United States of America, and the law of the State of New York (including the rules or regulations promulgated thereunder or pursuant thereto) that a New York lawyer exercising customary professional diligence would reasonably be expected to recognize as being applicable to either Borrower or the Credit Agreement. Without limiting the generality of the foregoing definition of Generally Applicable Law, the term “Generally Applicable Law” does not include any law, rule or regulation that is applicable to a Borrower or the Credit Agreement solely because such law, rule or regulation is part of a regulatory regime applicable to the specific assets or business of any party to the Credit Agreement or any of its affiliates due to the specific assets or business of such party or such affiliate. Based upon the foregoing and upon such other investigation as we have deemed necessary and subject to the qualifications set forth below, we are of the opinion that the Credit Agreement is the legal, valid and binding obligation of each Borrower, enforceable against each Borrower in accordance with its terms. Our opinion expressed above is subject to the following qualifications:
Accounting Year means the financial year commencing from the first day of April of any calendar year and ending on the thirty-first day of March of the next calendar year;
Current Financial Statements will mean the following financial statements with respect to Borrower and its Subsidiaries: (a) the audited balance sheet dated March 31, 2003 and statement of profit, loss and surplus for the fiscal year ended March 31, 2003; and (b) the internally prepared balance sheet dated September 30, 2003 and statement of profit, loss and surplus for the period March 31, 2003 through September 30, 2003. For the purposes of any future date on which the representations and warranties contained in Section 4 are deemed to be remade, the most current financial statements with respect to Borrower and its Subsidiaries delivered to Lender pursuant to Section 5 will be deemed the “Current Financial Statements.”
Uniform System of Accounts means the most recent edition of the Uniform System of Accounts for Hotels as adopted by the American Hotel and Motel Association.
Most Recent Financial Statements has the meaning set forth in Section 4(g) below.
Accounting Standard means GAAP.