Example ContractsClausesChanges in GAAP
Changes in GAAP
Changes in GAAP contract clause examples

Changes in GAAP. 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 or the Requisite Lenders shall so request, the [[Administrative Agent:Organization]], the Lenders and the 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 Requisite Lenders); provided that, until so amended, # such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and # the shall provide to the [[Administrative Agent:Organization]] 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. Without limiting the foregoing, leases shall continue to be classified and accounted for on a basis consistent with that reflected in the Annual Financial Statements for all purposes of this Agreement, notwithstanding any change in GAAP relating thereto, unless the parties hereto shall enter into a mutually acceptable amendment addressing such changes, as provided for above.

Changes in GAAP. The Parent Borrower shall deliver to the Domestic Administrative Agent and each Lender at the same time as the delivery of any annual or quarterly financial statements given in accordance with the provisions of Section 7.01, # a description in reasonable detail of any material change in the application of accounting principles employed in the preparation of such financial statements from those applied in the most recently preceding quarterly or annual financial statements as to which no objection shall have been made in accordance with the provisions above and # a reasonable estimate of the effect on the financial statements on account of such changes in application.

Changes in GAAP. If at any time any change in GAAP (including the adoption of IFRS) would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the Borrower or the Required [[Loan Parties:Organization]] shall so request, the Administrative Agent, the [[Loan Parties:Organization]] and the Borrower shall negotiate in good faith to amend such ratio or requirement to IF " DOCVARIABLE "SWDocIDLocation" 1" = "1" " DOCPROPERTY "SWDocID" US 172801506" "" US 172791558

the cumulative effect of any changes in GAAP or accounting principles applied by management during such period;

made any material change in accounting methods or practices, or Tax reporting principles, other than changes required by changes in U.S. GAAP or Mexico NIFs, as applicable, or the Code or other applicable Legal Requirement;

Accounting Changes. Make any change in # accounting policies or reporting practices, except as required by GAAP, or # their fiscal year.

GAAP Accounting Changes” has the meaning specified in [Section 1.03]. “Governmental Authority” means any nation or government, any state or other

make any material changes in accounting methods, principles or practices, except insofar as may have been required by a change in GAAP;

Those Corporate Performance Objectives which have meanings ascribed to them by GAAP shall have the meanings assigned to them under GAAP as in effect and applied to the Company on the date on which the Corporate Performance Objectives are established, without giving effect to any subsequent changes in GAAP, unless the Committee specifically provides otherwise when it establishes the Corporate Performance Objectives.

Accounting Changes. No Borrower shall # make any significant change in accounting treatment or reporting practices, except as permitted or required by GAAP, or # change its Fiscal Year.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.