Accounting Principles; Changes in GAAP definition

Accounting Principles; Changes in GAAP. Except as otherwise provided in this Agreement, all computations and determinations as to accounting or financial matters and all financial statements to be delivered pursuant to this Agreement shall be made and prepared in accordance with GAAP (including principles of consolidation where appropriate), and all accounting or financial terms shall have the meanings ascribed to such terms by GAAP as in effect on the Closing Date applied on a basis consistent with those used in preparing the Statements referred to in Section 6.4 [Historical Statements]; provided, that, GAAP will be deemed for all purposes hereof to treat leases that would have been classified as operating leases in accordance with GAAP as in effect on December 31, 2017 in a manner consistent with the treatment of such leases under GAAP in effect on December 31, 2017 notwithstanding any modification thereto that becomes effective thereafter. Notwithstanding the foregoing, if at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (a) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (b) if requested by the Administrative Agent, the Borrower shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP.
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Examples of Accounting Principles; Changes in GAAP in a sentence

  • GAAP shall mean generally accepted accounting principles as are in effect from time to time, subject to the provisions of Section 1.3 [Accounting Principles; Changes in GAAP], and applied on a consistent basis both as to classification of items and amounts.

  • GAAP shall mean U.S. generally accepted accounting principles as are in effect from time to time, subject to the provisions of Section 1.3 [Accounting Principles; Changes in GAAP], and applied on a consistent basis both as to classification of items and amounts.

  • CERTAIN DEFINITIONS 1 1.1 Certain Definitions 1 1.2 Construction 46 1.3 Accounting Principles; Changes in GAAP 46 1.4 Currency Conditions 47 1.5 Limitation on Liability of UK Borrower and UK Guarantors 47 1.6 Limitation on Liability of iGo 48 1.7 Quebec Interpretation 49 2.

  • CERTAIN DEFINITIONS 1 1.1 Certain Definitions 1 1.2 Construction 40 1.3 Accounting Principles; Changes in GAAP 40 1.4 Currency Calculations 41 1.5 Divisions 41 1.6 Benchmark Replacement Notification 41 2.

  • GAAP shall mean generally accepted accounting principles as are in effect from time to time, subject to the provisions of Section 1.4 [Accounting Principles; Changes in GAAP], and applied on a consistent basis both as to classification of items and amounts.

  • CERTAIN DEFINITIONS 1 Section 1.1 Certain Definitions 1 Section 1.2 Construction 2932 Section 1.3 Accounting Principles; Changes in GAAP 2933 Section 1.4 Divisions 3033 SECTIONSection 1.5 Term SOFR Notification 33 Section 2.

  • Unless future studies can identify species which, with respect to Mo, precipitate their skeletons in equilibrium with ocean water or at least show a constant biogenic fractionation, skeletal carbonates cannot be a reliable ocean water proxy.

  • Capital Lease shall mean, subject to Section 1.3 [Accounting Principles; Changes in GAAP] as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee that, in conformity with GAAP, is accounted for as a Capital Lease on the balance sheet of that Person.

  • Exhibit 10.1 TABLE OF CONTENTS Page ARTICLE 1 CERTAIN DEFINITIONS 1 1.1 Certain Definitions 1 1.2 Construction 35 1.3 Accounting Principles; Changes in GAAP.

Related to Accounting Principles; Changes in GAAP

  • Accounting Principles means the international financial reporting standards (IFRS) within the meaning of Regulation 1606/2002/EC (or as otherwise adopted or amended from time to time).

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.

  • Applicable Accounting Principles means, with respect to the Borrower, those accounting principles required by the ICA and prescribed by the SEC for the Borrower and, to the extent not so required or prescribed, GAAP.

  • Agreed Accounting Principles means GAAP; provided, however, that, with respect to any matter as to which there is more than one generally accepted accounting principle, Agreed Accounting Principles means the generally accepted accounting principles consistently applied in the preparation of the Latest Audited Company Balance Sheet; provided, further, that, for purposes of the Agreed Accounting Principles, no known adjustments for items or matters, regardless of the amount thereof, shall be deemed to be immaterial.

  • U.S. GAAP means United States generally accepted accounting principles consistently applied.

  • GAAP means United States generally accepted accounting principles.

  • Generally Accepted Accounting Principles means generally accepted accounting principles, being those principles of accounting set forth in pronouncements of the Financial Accounting Standards Board, the American Institute of Certified Public Accountants or which have other substantial authoritative support and are applicable in the circumstances as of the date of a report.

  • IFRS means the International Financial Reporting Standards as issued by the International Accounting Standards Board.

  • Accounting Policies means the accounting policies and procedures set out in Part C of Schedule 4 (Accounting Policies);

  • PRC GAAP means the generally accepted accounting principles in the PRC.

  • Fixed GAAP Date means the Issue Date; provided that at any time after the Issue Date, the Company may by written notice to the Trustee elect to change the Fixed GAAP Date to be the date specified in such notice, and upon such notice, the Fixed GAAP Date shall be such date for all periods beginning on and after the date specified in such notice.

  • Canadian GAAP means Generally Accepted Accounting Principles as provided in the Handbook of the Canadian Institute of Chartered Accountants.

  • Mexican GAAP means generally accepted accounting principles in Mexico in effect on the Issue Date.

  • Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.

  • Accounting system means the Contractor's system or systems for accounting methods, procedures, and controls established to gather, record, classify, analyze, summarize, interpret, and present accurate and timely financial data for reporting in compliance with applicable laws, regulations, and management decisions, and may include subsystems for specific areas such as indirect and other direct costs, compensation, billing, labor, and general information technology.

  • Accounting Statement means for each financial year, the following statements, namely-

  • Brazilian GAAP means the generally accepted accounting practices adopted in Brazil determined in accordance with the Brazilian corporate law.

  • International Accounting Standards means International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and related Interpretations (SIC-IFRIC interpretations), subsequent amendments to those standards and related interpretations, and future standards and related interpretations issued or adopted by the International Accounting Standards Board (IASB);

  • Fixed GAAP Terms (a) the definitions of the terms “Capitalized Lease Obligation,” “Consolidated Depreciation and Amortization Expense,” “Consolidated Interest Expense,” “Consolidated Net Income,” “Consolidated Tangible Assets,” “Consolidated Working Capital,” “EBITDA,” “ECF CNI,” “Excess Cash Flow,” “Fixed Charge Coverage Ratio,” “Fixed Charges,” “Funded Debt,” “Indebtedness,” “Investments,” “Net Income,” “Senior Secured Indebtedness” and “Senior Secured Indebtedness to EBITDA Ratio,” (b) all defined terms in this Agreement to the extent used in or relating to any of the foregoing definitions, and all ratios and computations based on any of the foregoing definitions, and (c) any other term or provision of this Agreement or the other Loan Documents that, at the Borrower’s election, may be specified by the Borrower by written notice to the Administrative Agent from time to time.

  • UK GAAP means generally accepted accounting principles in the United Kingdom.

  • Accounting Standards means the standards of accounting or any addendum thereto for companies or class of companies referred to in section 133;

  • Accounting Standard means GAAP.

  • Accounting Date means the thirtieth day of June in each year and any interim date on which the financial statements of the Trust are drawn up. Provided that the Management Company may, with the written consent of the Trustee and after obtaining approval from the Commission and the Commissioner of Income Tax may change such date to any other date and such change shall be intimated to the Commission.

  • Generally accepted auditing standards means Canadian Generally Accepted Auditing Standards as adopted by the Canadian Institute of Chartered Accountants applicable as of the date on which such record is kept or required to be kept in accordance with such standards.

  • Financial Reporting Measures means measures that are determined and presented in accordance with the accounting principles used in preparing the Company’s financial statements, and all other measures that are derived wholly or in part from such measures. Stock price and total shareholder return (and any measures that are derived wholly or in part from stock price or total shareholder return) shall, for purposes of this Policy, be considered Financial Reporting Measures. For the avoidance of doubt, a Financial Reporting Measure need not be presented in the Company’s financial statements or included in a filing with the SEC.