![]() The Original Group Accounts, and thereafter, the most recent consolidated audited financial statements of the Group, were prepared in accordance with the Appropriate Accounting Principles and consistently applied from one period to the next (except as shown in those financial statements) and give a true and fair view of the financial condition of the Group, as at the date as of which the same were prepared. ![]() Provided that the limitation of business activities contained in this clause 11.14 will not apply to any other business activities carried on by members of the Group as long as such other business activities do not in aggregate account for more than 10% of the consolidated gross assets or consolidated gross revenues of the Group (as calculated in accordance with the Appropriate Accounting Principles). ![]() The Borrower has filed all federal income tax returns and all other material tax returns which are required to be filed by it in all jurisdictions and has paid all material taxes, assessments, claims, governmental charges or levies imposed on it or its properties, except for taxes contested in good faith through proceedings diligently pursued and as to which adequate reserves have been provided in accordance with Appropriate Accounting Principles. The Borrower shall cause the Collateral Manager to keep proper books of record and account in which full and correct entries shall be made of all financial transactions and the assets and business of the Collateral Manager in accordance with Appropriate Accounting Principles, maintain and implement administrative and operating procedures, and keep and maintain all documents, books, records and other information necessary or reasonably advisable for the collection of all Collateral Obligations.Īppropriate Accounting Principles SCE&G follows the guidance included in the Accounting Standards Codification (ASC), which includes pronouncements of the authoritative United States accounting guidance bodies, including the Financial Accounting Standards Board (FASB), and Emerging Issues Task Force (EITF).īorrower shall keep proper books of record and accounts as are necessary to prepare financial statements in accordance with Appropriate Accounting Principles. The Borrower shall keep proper books of record and account as are necessary to prepare financial statements in accordance with Appropriate Accounting Principles. Such financial statements (including the related notes) fairly present the financial condition of the Equityholder as of the respective dates thereof and the results of operations for the periods covered thereby, each in accordance with Appropriate Accounting Principles. The Borrower will file on a timely basis all federal and other material Tax returns required to be filed, if any, and will pay all federal and other material Taxes due and payable by it and any assessments made against it or any of its property (other than any amount the validity of which is contested in good faith by appropriate proceedings and with respect to which reserves in conformity with Appropriate Accounting Principles are provided on the books of the Borrower).Īll financial computations required under this Agreement shall be made, and all financial information required under this Agreement shall be prepared, in accordance with Appropriate Accounting Principles. Examples of Appropriate Accounting Principles in a sentence
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