Material Accounting Change definition
Material Accounting Change. Any change in GAAP applicable to accounting periods subsequent to the Borrower's fiscal year most recently completed prior to the execution of this Agreement, which change has a material effect on the Borrower's financial condition or operating results, as reflected on financial statements and reports prepared by or for the Borrower, when compared with such condition or results as if such change had not taken place or where preparation of the Borrower's statements and reports in compliance with such change results in the breach of a financial performance covenant imposed pursuant to Section 5-12 where such a breach would not have occurred if such change had not taken place or visa versa.
Material Accounting Change. Any change in GAAP applicable to accounting periods subsequent to the Borrower’s fiscal year most recently completed prior to the execution of this Agreement, which change has a material effect on the Borrower’s financial condition or operating results, as reflected on financial statements and reports prepared by or for the Borrower, when compared with such condition or results as if such change had not taken place.
Material Accounting Change means any change in GAAP applicable to accounting periods subsequent to the Parent's fiscal year most recently completed prior to the execution of this Agreement, which change has a material effect on the Parent's Consolidated financial condition or operating results, as reflected on financial statements and reports prepared by or for the Parent and its Subsidiaries, when compared with such condition or results as if such change had not taken place.
Examples of Material Accounting Change in a sentence
Each Debtor shall observe and comply with the following financial performance covenants, which compliance shall be determined as if no Material Accounting Change had occurred (other than any Material Accounting Change specifically taken into account in the setting of such covenants).
No Material Accounting Change shall be given effect in the calculations under this Agreement until the provisions of this Agreement are amended in a manner reasonably satisfactory to Purchaser.
More Definitions of Material Accounting Change
Material Accounting Change means any (i) change in PPL Electric’s accounting policies and practices (as such changes are defined by the Statement of Financial Accounting Standards No. 154 issued by the Financial Accounting Standards Board or its successor), or (ii) change in PPL Electric’s inter-corporate cost allocation policies or practices from those policies and/or practices in effect for the Rate Year upon which the immediately preceding Annual Update was based, which change causes a result under the Formula Rate different than the result under the Formula Rate as calculated without such change.
Material Accounting Change. Any change in GAAP applicable to accounting periods subsequent to Parent’s Fiscal Year most recently completed prior to the execution of this Agreement, if such change has a material effect on the Borrower Group’s financial condition or operating results, taken as a whole, as reflected on financial statements and reports prepared by or for the Borrower Group, when compared with such condition or results as if such change had not taken place, or where preparation of the Borrower Group’s statements and reports in compliance with such change results in the breach of a Availability covenant imposed pursuant to Section 6.12, where such a breach would not have occurred if such change had not taken place.
Material Accounting Change. Any change in GAAP applicable to accounting periods subsequent to the Loan Parties' Fiscal year most recently completed prior to the execution of this Agreement, which change has a material effect on the Loan Parties' Consolidated financial condition or operating results, as reflected on financial statements and reports prepared by or for the Loan Parties, when compared with such condition or results as if such change had not taken place or where preparation of the Loan Parties' statements and reports in compliance with such change results in the breach of a financial performance covenant imposed pursuant to Section 6.11 where such a breach would not have occurred if such change had not taken place or VISA VERSA. "MATURITY DATE": May 14, 2005. MINIMUM EXCESS AVAILABILITY BREACH: The failure of the Borrowers at any time to comply with the provisions of Section 6.11(a).
Material Accounting Change means any change in GAAP applicable to accounting periods subsequent to the Key Loan Parties' fiscal year most recently completed prior to the execution of this Agreement, which change has a material effect on the Key Loan Parties' Consolidated financial condition or operating results, as reflected on financial statements and reports prepared by or for the Key Loan Party, when compared with such condition or results as if such change had not taken place.
Material Accounting Change. Any change in GAAP applicable to accounting periods subsequent to the Credit Parties' fiscal year most recently completed prior to the execution of the Original Loan and Security Agreement, which change has a material effect on the Credit Parties' Consolidated financial condition or operating results, as reflected on financial statements and reports prepared by or for the Credit Parties, when compared with such condition or results as if such change had not taken place or where preparation of the Credit Parties' statements and reports in compliance with such change results in the breach of a financial performance covenant imposed pursuant to Section 5.11 where such a breach would not have occurred if such change had not taken place or vice versa. The expensing of stock options shall be deemed to be a Material Accounting Change.
Material Accounting Change is hereby revised by the deletion of the reference (i) to "Borrowers'" in the second and fourth lines thereof and its replacement with "Parent's", and (ii) to "Borrowers" in the sixth line thereof and its replacement with "Parent and its Subsidiaries."
Material Accounting Change means a material change in LG&E/KU’s accounting policies and practices (as such are defined by the Accounting Standards Codification Topic 250,