ASC 840 definition

ASC 840 means Accounting Standards Certification No. 840.
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ASC 840 means the Financial Accounting Standards Board Accounting Standards Codification No. 840, Consolidation, as amended, supplemented or modified from time to time and any successor or replacement codification or interpretation.
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Examples of ASC 840 in a sentence

  • Notwithstanding the foregoing, with respect to the accounting for leases as either operating leases or capital leases, the impact of FASB ASC 840 and FASB ASC 842 or any subsequent pronouncement having similar effect shall be disregarded.

  • Notwithstanding anything to the contrary contained herein all financial determinations made herein with respect to operating and capital leases shall be made without giving effect to ASC 842, but instead shall be made consistent with ASC 840.

  • Further, vehicle lease transactions that qualify as sales-type leases under ASC 840 whereby the Company is party to a guaranteed residual value or buyback obligation, shall not be considered a capital lease.

  • Capital Lease Obligations - with respect to any Person, obligations of such Person and its Subsidiaries under Capital Leases, and, for purposes hereof, the amount of any such obligation shall be the capitalized amount thereof determined in accordance with GAAP (but without giving effect to FASB ASC 840).

  • For details regarding the amount of ASC 840 Indebtedness, see the publicly filed financial statements of ▇▇▇ Hortons Inc.

  • Capital Lease - any lease that is required to be capitalized for financial reporting purposes in accordance with GAAP (but without giving effect to FASB ASC 840).

  • Notwithstanding the foregoing, if for any reason, at any time during the Term, Hawaiian Electric (and/or Hawaiian Electric’s Affiliates, or HEI) in their good faith analysis and sole discretion are required to treat this Agreement as a capital lease under FASB ASC 840, then Hawaiian Electric may take any and all action necessary to eliminate this capital lease treatment, including without limitation, by immediately terminating this Agreement without fault or liability.

  • If for any reason, at any time during the Original Term or any Extension, by act or omission of Chevron, HECO (and/or HECO’s affiliates, HELCO or MECO, or HEI) in their good faith analysis and sole discretion are required to treat this Contract as a capital lease under FASB ASC 840, then HECO may take any and all action necessary to eliminate this capital lease treatment, including without limitation, by immediately terminating this Contract without fault or liability.

  • Notwithstanding the foregoing, if for any reason, at any time during the Term, Hawaiian Electric’s (and/or Hawaiian Electric’s Affiliates, or HEI) in their good faith analysis and sole discretion are required to treat this Contract as a capital lease under FASB ASC 840, then Hawaiian Electric may take any and all action necessary to eliminate this capital lease treatment, including without limitation, by immediately terminating this Contract without fault or liability.

  • ASC 842 supersedes the lease requirements in ASC 840 “Leases”, and generally requires lessees to recognize operating and finance lease liabilities and corresponding right-of-use assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements.