Frozen GAAP definition

Frozen GAAP is defined in Section 22.2(b).
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Frozen GAAP means generally accepted accounting principles in existence as of August 1, 1993.
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Examples of Frozen GAAP in a sentence

  • Where the character or amount of any asset or liability or item of income or expense is required to be determined or any consolidation or other accounting computation is required to be made for the purposes of this Agreement, the same shall be done in accordance with Frozen GAAP, to the extent applicable, except where such principles are inconsistent with the requirements of this Agreement.

  • In the event of the application of Frozen GAAP, each set of financial statements delivered to holders of Notes pursuant to Section 7.1(a) or (b) shall include detailed reconciliations reasonably satisfactory to the Required Holders as to the effect of such change in GAAP and the application of Frozen GAAP.

  • The Company has requested that Prudential and the Noteholders amend the Frozen GAAP Requirement in respect of the 2018/2019 GAAP Change for all purposes under the Shelf Agreement and any other Transaction Document.

Related to Frozen GAAP

  • Canadian GAAP means Generally Accepted Accounting Principles as provided in the Handbook of the Canadian Institute of Chartered Accountants.

  • 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.

  • GAAP means United States generally accepted accounting principles.

  • U.S. GAAP means United States generally accepted accounting principles.

  • PRC GAAP means the generally accepted accounting principles in the PRC.