Applicable GAAP definition

Applicable GAAP means, in the case of the consolidated financial statements of the Company (or the Group), U.S. GAAP, and in the case of the unconsolidated financial statements of any Obligor or the consolidated financial statements of any Obligor other than the Company, the accounting principles generally accepted in its jurisdiction of incorporation from time to time.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Applicable GAAP has the meaning set forth in Section 1.02.

Applicable GAAP means US GAAP, PRC GAAP or IFRS, as the case may be.

Examples of Applicable GAAP in a sentence

• Each Loan Party has filed and paid and discharged all Taxes, by any Governmental Authority, except (i) to the extent that any such assessment is being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves are being maintained in accordance with the Applicable GAAP or (ii) to the extent that the failure to do so could not reasonably be expected to have a Material Adverse Effect.

• All accounting terms not specifically defined herein shall be construed, and all accounting and financial calculations shall be made, in accordance with the Applicable GAAP.

• Each Loan Party will, and will cause its respective Subsidiaries to, duly pay and discharge all Taxes imposed upon it, except (i) to the extent that any such Tax is being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves are being maintained in accordance with the Applicable GAAP or (ii) to the extent that the failure to do so could not reasonably be expected to have a Material Adverse Effect.

More Definitions of Applicable GAAP

Applicable GAAP means, with respect to any Person, Mexican FRS or other generally accepted accounting principles required to be applied to such Person in the jurisdiction of its incorporation or organization and used in preparing such Person’s financial statements.

Applicable GAAP means US GAAP or IFRS. All ratios and computations based on Applicable GAAP contained in this Agreement will be computed in conformity with US GAAP or IFRS, as the case may be.

Applicable GAAP shall have the meaning set forth in Section 1.02 of the LLC Agreement.

Applicable GAAP means either (i) generally accepted accounting principles in Brazil, which are based on the Brazilian corporate law, the rules and regulations of the Brazilian securities commission and the accounting standards issued by the Brazilian Institute of Independent Accountants (Institute dos Auditores Independentes do Brasil, IBRACON) (whether or not the Company or any of its Subsidiaries or Affiliates is otherwise subject to such rules) as in effect from time to time, or (ii) International Financial Reporting Standards as in effect from time to time (IFRS).

Applicable GAAP means, at any time, generally accepted accounting principles applicable to the Company’s ultimate parent company at such time.

Applicable GAAP means the generally accepted accounting principles applied in the preparation of the consolidated accounts of Vodafone for the year ended 31 March 2010. “Arranger” means a financial institution or other entity listed in Part 3 or Part 4 of Schedule 1.

Applicable GAAP means the accepted accounting principles in Brazil or/and the International Financial Reporting Standards (IFRS) as in effect from time to time.