Modified GAAP definition

Modified GAAP means United States generally accepted accounting principles as in effect from time to time, except that: (i) stock-related expenses (including stock options, restricted stock, stock appreciation rights, restricted stock units, stock purchase programs or any award based on equity of Intel or Micron) associated with the seconded individuals to IMFT will not be recorded or disclosed in the financial statements of IMFT; and (ii) the value of any asset, contributed or otherwise transferred to IMFT from Intel or Micron shall be the value as agreed upon by Intel and Micron at the time of the contribution or transfer, as applicable, and, if such asset is or was to be depreciated or amortized under GAAP, the useful life and method of depreciation or amortization for such asset shall be determined by applying the accounting policies used by IMFT for like assets.

Modified GAAP shall have the meaning set forth in the LLC Operating Agreement.

Modified GAAP means GAAP, except that: (i) stock-related expenses (including stock options, restricted stock, stock appreciation rights, restricted stock units, stock purchase 101243724.3 Micron Supply Agreement programs or any award based on equity of the Members) associated with the seconded individuals to the Joint Venture Company will not be recorded or disclosed in the financial statements of the Joint Venture Company; and (ii) the value of any asset contributed or otherwise transferred to the Joint Venture Company from the Members shall be the value as agreed upon by the Members at the time of the contribution or transfer, as applicable, and, if such asset is to be depreciated or amortized under GAAP, the useful life and method of depreciation or amortization for such assets shall be determined by applying the accounting policies used by the Joint Venture Company for like assets. The value of the Lehi Property (as defined in the LLC Operating Agreement) shall be Two Hundred Twenty Million ($220,000,000).

Examples of Modified GAAP in a sentence

• Except as set forth on Schedule 3.7(a), the Financial Statements (i) have been prepared from the books and records of the Company in accordance with Modified GAAP, consistently applied, (ii) are correct in all material respects, and (iii) fairly present, in all material respects, changes in shareholders equity, the financial condition and results of operations of the Company as of the respective dates thereof and for the respective periods covered thereby, subject to the absence of footnotes.

• The Financial Statements (i) have been prepared from the books and records of the Company in accordance with Modified GAAP, consistently applied, (ii) are correct in all material respects, and (iii) fairly present, in all material respects, changes in shareholders equity, the financial condition and results of operations of the Company as of the respective dates thereof and for the respective periods covered thereby, subject to the absence of footnotes.

• No financial statements of any Person other than the Company and Tribeca Leasing for Equipment and Truck Indebtedness incurred on or prior to the Closing Date are required by Modified GAAP to be included in the Company’s financial statements.

More Definitions of Modified GAAP

Modified GAAP means GAAP, except that: (i) stock-related expenses (including stock options, restricted stock, stock appreciation rights, restricted stock units, stock purchase programs or any award based on equity of MTI or Intel) associated with the seconded individuals to IMFT will not be recorded or disclosed in the financial statements of IMFT; and (ii) the value of any asset contributed or otherwise transferred to IMFT from MTI or Intel shall be the value as agreed upon by MTI and Intel at the time of the contribution or transfer, as applicable, and, if such asset is to be depreciated or amortized under GAAP, the useful life and method of depreciation or amortization for such assets shall be determined by applying the accounting policies used by IMFT for like assets. The value of the Lehi Property (as defined in the IMFT Operating Agreement) shall be **** ($****). 101243720.3

Modified GAAP means United States generally accepted accounting principles as in effect from time to time, except that the value of any asset contributed or otherwise transferred to the Joint Venture Company from a Member shall be the value as agreed upon by the Members at the time of the contribution or transfer, as applicable, and, if such asset is to be depreciated or amortized under GAAP, the useful life and method of depreciation or amortization for such assets shall be determined by applying the accounting policies used by the Joint Venture Company for like assets. The value of the Boise Supply Agreement, the MTV Lease and the Lehi Property shall be the value specified with respect to such items in Appendix D.

Modified GAAP means GAAP, with those modifications and adjustments set forth on Schedule 1.1(b).

Modified GAAP has the meaning set forth on Appendix A.

Modified GAAP means United States generally accepted accounting principles as in effect from time to time; provided, however, that GAAP requirements may not be met with respect to: (a) analysis of allowances for doubtful accounts; (b) leases and lease accounting; and (c) new revenue standards to the extent not implemented by the Company.

Modified GAAP means GAAP except for the absence of footnotes and customary and immaterial year-end adjustments (that, if presented, would not differ materially from those included in audited financial statements of PLC) and includes, where applicable, a reconciliation of SAP to GAAP using principles and practices that are consistent with the reconciliation prepared for the entity’s December 31, 2000 financial statements.

Modified GAAP shall have the meaning set forth in the IMFS Agreement.