Impermissible Qualification definition

Impermissible Qualification means, relative to the opinion or certification of any independent public accountant as to any financial statement of any Obligor, any qualification or exception to such opinion or certification

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Impermissible Qualification means, relative to the opinion or certification of any independent public accountant as to any financial statement of the Borrower, any qualification or exception to such opinion or certification (i) which is of a “going concern” or similar nature, (ii) which relates to the limited scope of examination of matters relevant to such financial statement, or (iii) which relates to the treatment or classification of any item in such financial statement and which would require an adjustment to such item the effect of which would be to cause the Borrower to be in violation of Section 7.15 hereof.

Impermissible Qualification means, relative to the opinion or certification of any independent public accountant as to any financial statement of the Borrower, any qualification or exception to such opinion or certification

Examples of Impermissible Qualification in a sentence

• Such statements shall be examined in accordance with generally accepted auditing standards and be accompanied by a report thereon that is not subject to an Impermissible Qualification by independent certified public accountants selected by the Loan Parties and reasonably satisfactory to the Agent.

• Subject to the limitations set forth in Section 2 of this Waiver, the Administrative Agent and the Lenders party hereto hereby waive any Default or Event of Default that may occur or be continuing as a result of (x) the Borrower’s failure to deliver the 2011 Financial Statements and (y) the Borrower’s delivery of the Audited Report containing an Impermissible Qualification of the kind specified in clause (a) of the definition of such term ((x) and (y), together, the “Waived Events”).

• The Agents shall have received the financial information required to be delivered pursuant to clause (a) of Section 7.1.1 of the Existing Credit Agreement for the 2002 Fiscal Year certified without any Impermissible Qualification.

• The auditor's report delivered in ----------------- connection with the annual financial statements (to be delivered pursuant to Section 10.1.1) shall contain an Impermissible Qualification.

• Upon the effectiveness of this Waiver, the Lender and the Borrower hereby agree, solely for delivery of the audited consolidated financial statements of the Borrower for the Fiscal Year ended on December 29, 2018, to waive the requirement under Section 7.1(c) of the Credit Agreement that the audited consolidated financial statements of the Borrower be delivered without an Impermissible Qualification.

More Definitions of Impermissible Qualification

Impermissible Qualification means, relative to the opinion or certification of any independent public accountant as to any financial statement of any Obligor, any qualification or exception to such opinion or certification (i) which is of a "going concern" or similar nature, (ii) which relates to the limited scope of examination of matters relevant to such financial statement (except, in the case of matters relating to any acquired business or assets, in respect of the period prior to the acquisition by such Obligor of such business or assets), or (iii) which relates to the treatment or classification of any item in such financial statement and which, as a condition to its removal, would require an adjustment to such item the effect of which would be to cause the Borrower to be in default of any of its obligations under Section 7.2.4.

Impermissible Qualification means, relative to (i) the financial statements or notes thereto of any Person; or (ii) the opinion or report of any independent auditors as to any financial statement or notes thereto, any qualification or exception to such financial statements, notes, opinion or report, as the case may be, which (a) is of a “going concern” or similar nature; or (b) relates to any limited scope of examination of material matters relevant to such financial statement, if such limitation results from the refusal or failure of such Person to grant access to necessary information therefore within the power of such Person to so grant.

Impermissible Qualification means any qualification or exception to the opinion or certification of any independent public accountant as to any financial statement of the Borrower (i) which is of a “going concern” or similar nature other than any such qualification in any opinion given in the Fiscal Year of the Maturity Date that is based solely on a determination that the Borrower may not have sufficient cash or other available resources to run the business for the Fiscal Year of the Maturity Date as a result of the Loans maturing during such Fiscal Year, (ii) which relates to the limited scope of examination of matters relevant to such financial statement, or (iii) which relates to the treatment or classification of any item in such financial statement and which, as a condition to its removal, would require an adjustment to such item the effect of which would be to cause the Borrower to be in Default.

Impermissible Qualification means any qualification or exception to the opinion or certification of any independent public accountant as to any financial statement of the Borrower (i) which is of a “going concern” or similar nature, (ii) which relates to the limited scope in any material respect of examination of matters relevant to such financial statement, or (iii) which relates to the treatment or classification of any item in such financial statement (excluding treatment or classification changes which are the result of changes in GAAP or the interpretation of GAAP) and which, as a condition to its removal, would require an adjustment to such item the effect of which would be to cause the Borrower to be in Default.

Impermissible Qualification means, relative to the opinion or certification of any independent public accountant as to any financial statement of any Obligor, any qualification or exception to such opinion or certification (i) which is of a "going concern" or similar nature, (ii) which relates to the limited scope of examination of matters relevant to such financial statement, or (iii) which relates to the treatment or classification of any item in such financial statement and which, as a condition to its removal, would require an adjustment to such item the effect of which would be to cause such Obligor to be in default of any of its obligations under Section 7.2.4.

Impermissible Qualification means, relative to the opinion or report of any independent auditors as to any financial statement of any Person, any qualification or exception to such opinion or report which:

Impermissible Qualification means any qualification or exception to the opinion or certification of any independent public accountant as to any financial statement of the Company: