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.