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Accounting Principles; Changes in GAAP
Accounting Principles; Changes in GAAP contract clause examples

Except as otherwise provided herein, # each financial term in this Agreement shall be interpreted in accordance with GAAP in effect on the date of such interpretation; and # where the character or amount of any asset or liability or item of revenue or expense is required to be determined, or any consolidation or other computation is required to be made for the purpose of this Agreement, such determination or calculation shall be made in accordance with GAAP in effect on the date of such determination. Notwithstanding the foregoing, if after the date of this Agreement there is a change in GAAP (referred to herein as an “accounting change”), and if any financial ratio or amount determined pursuant to

Except as otherwise provided herein, # each financial term in this Agreement shall be interpreted in accordance with GAAP in effect on the date of such interpretation; and # where the character or amount of any asset or liability or item of revenue or expense is required to be determined, or any consolidation or other computation is required to be made for the purpose of this Agreement, such determination or calculation shall be made in accordance with GAAP in effect on the date of such determination. Notwithstanding the foregoing, if after the date of this Agreement there is 1">a1">an accounting change 3">in3">under GAAP (referred to herein as an 5">“accounting change”5">"accounting change"), and if any financial ratio or amount determined pursuant to7"> [Section 5.02(w)] would be materially different as a result of such accounting change, such financial ratio or amount shall be determined without regard to such accounting change and for the information of the Lenders the Parent shall also deliver to the Lenders a reconciliation in form and substance satisfactory to the Lenders.

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