Local GAAP definition

Local GAAP means generally accepted accounting principles of the jurisdiction of the Senior Notes Issuer as in effect from time to time.

Local GAAP means, with respect to any Foreign Subsidiary, generally accepted accounting principles in the jurisdictions in which such Person is organized and its principal business operations are conducted, consistently applied.

Local GAAP means with respect to any Foreign Subsidiary of Aleris generally accepted accounting principles in the jurisdiction of organization of such Subsidiary as in effect from time to time or, at the option of such Foreign Subsidiary, IFRS.

Examples of Local GAAP in a sentence

• All of the Financial Statements are true, correct and complete in all material respects, are in accordance with the books and records of each of the Companies, have been prepared in accordance with Local GAAP, consistently applied throughout the periods indicated, and present fairly the financial position of the Companies at the dates indicated and the results of operations of the Companies for the periods indicated.

• With respect to liabilities related to warranty claims, each of the Companies has established an adequate reserve therefor in conformity with Local GAAP and such Company's past custom and practice.

• Operator shall keep full and adequate books of account and other records reflecting the results of operation of the Hotel in accordance with the Uniform System of Accounts and GAAP, or if applicable, Local GAAP, in which case Operator shall prepare and provide to Owner, on a quarterly basis (or if requested by Owner, on a monthly basis), a reconciliation to GAAP of the applicable balance sheets and income statements.

More Definitions of Local GAAP

Local GAAP means generally accepted accounting principles in the jurisdiction of any Account Party.

Local GAAP means the generally accepted accounting principles in the jurisdiction of organization of any non-U.S. entity.

Local GAAP means, with respect to Foreign Subsidiaries that are Restricted Subsidiaries, generally accepted accounting principles that are applicable in their respective jurisdictions of organization.

Local GAAP means, with respect to any Business, the accounting principles generally accepted in the jurisdiction in which the principal executive office of such Business is located and consistently applied.

Local GAAP means generally accepted accounting principles in the jurisdiction of any Account Party. “Margin Stock” means “margin stock” within the meaning of Regulations T, U and X of the Board.

Local GAAP means generally accepted accounting principles applicable in the country for which any particular financial statements of an Acquired Company are prepared, as in effect on the Effective Date and consistently applied.

Local GAAP means the generally accepted accounting principles applicable in a particular jurisdiction.