Accounting and Reserves Clause Samples

Accounting and Reserves. The Company shall, and the Company shall cause each of its subsidiaries to, maintain a standard and uniform system of accounting and shall keep proper books and records and accounts in which full, true and correct entries shall be made of its transactions, all in accordance with generally accepted accounting principles applied on a consistent basis through all periods, and shall set aside on such books for each fiscal year all such proper reserves for depreciation, obsolescence, amortization, bad debts and other purposes in connection with its operations as are required by such principles so applied.

Accounting and Reserves. It shall maintain a standard and uniform system of accounting and shall keep proper books and records and accounts in which full, true and correct entries shall be made of its transactions, all in accordance with generally accepted accounting principles applied on a consistent basis through all periods, and shall set aside on such books for each fiscal year all such proper reserves for depreciation, obsolescence, amortization, bad debts and other purposes in connection with its operations as are required by such principles so applied.

Accounting and Reserves. Section 8.1 Monthly Reports 16 Section 8.2 Monthly Account Balance Reports 16 Section 8.3 Settlements 17 Section 8.4 Offset and Recoupment 17 Section 8.5 Currency 17

Accounting and Reserves. Seagull will (a) maintain a standard and uniform system of accounting and keep proper books of record and account in which full, true and correct entries will be made of its transactions and, separately, transactions of the Division, all in accordance with generally accepted accounting principles or, in the case of the Division, Required Accounting Practice, and (b) set aside its books and on the books of the Division for each fiscal year all such proper reserves for depreciation, depletion, obsolescence, amortization, bad debts and other purposes in connection with its business and the business of the Division as shall be required by Required Accounting Practice.

Accounting and Reserves. 14 5.2. Insurance........................................................ 14 5.3. Maintenance of Corporate Existence, Franchises, etc.; Restrictions on Business................................. 14 5.4. Maintenance and Improvement of Division Property.............................................. 15 5.5. Restrictions on Liens, etc. ..................................... 15 5.6. Recordation of Intercompany Mortgage.............................

Accounting and Reserves. The Company shall maintain a standard and uniform system of accounting and shall keep proper books and records and accounts in which full, true, and correct entries shall be made of its transactions, all in accordance with GAAP applied on consistent basis through all periods, and shall set aside on such books for each fiscal year all such reserves for depreciation, obsolescence, amortization, bad debts and other purposes in connection with its operations as are required by such principles so applied. Transactions with Affiliates. Neither the Company nor any of its Subsidiaries shall, directly or indirectly, enter into any transaction or agreement with any stockholder, officer, director or Affiliate of the Company or family member of any officer, director or Affiliate of the Company, unless the transaction or agreement is (i) reviewed and approved by a majority of Disinterested Directors (as such term is hereinafter defined) and (ii) on terms no less favorable to the Company or the applicable Subsidiary than those obtainable from a nonaffiliated person. A "Disinterested Director" shall mean a director of the Company who is not and has not been an officer or employee of the Company and who is not a member of the family of, controlled by or under common control with, any such officer or employee.

Accounting and Reserves. TSI shall, and TSI shall cause each of its subsidiaries to, maintain a standard and uniform system of accounting and shall keep proper books and records and accounts in which full, true and correct entries shall be made of its transactions, all in accordance with generally accepted accounting principles applied on a consistent basis through all periods, and shall set aside on such books for each fiscal year all such proper reserves for depreciation, obsolescence, amortization, bad debts and other purposes in connection with its operations as are required by such principles so applied.

Accounting and Reserves. Meltronix shall maintain a standard and uniform system of accounting and shall keep proper books and records and accounts in which full, true, and correct entries shall be made of its transactions, all in accordance with GAAP applied on consistent basis through all periods, and shall set aside on such books for each fiscal year all such reserves for depreciation, obsolescence, amortization, bad debts and other purposes in connection with its operations as are required by such principles so applied.

Accounting and Reserves. 32 8.6 Transactions with Affiliates...................................................................32 8.7 Provisions Relating to JPM Investors...........................................................32 8.8 Assistance in Sales............................................................................34 8.9