Common use of Accounting System Clause in Contracts

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parties also shall keep a reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, Agent.

Appears in 3 contracts

Sources: Credit Agreement (Take Two Interactive Software Inc), Credit Agreement (Take Two Interactive Software Inc), Credit Agreement (Dune Energy Inc)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries Borrowers to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parties Parent and Borrowers also shall keep a reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their respective Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, Agent.

Appears in 3 contracts

Sources: Credit Agreement (Monotype Imaging Holdings Inc.), Credit Agreement (Monotype Imaging Holdings Inc.), Credit Agreement (Monotype Imaging Holdings Inc.)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parties Parent and its Subsidiaries also shall keep a an inventory reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, AgentInventory.

Appears in 3 contracts

Sources: Loan and Security Agreement (Numatics Inc), Loan and Security Agreement (Midas Inc), Loan and Security Agreement (Iron Age Corp)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parties also shall keep a reporting system that shows all additions, sales, claims, returns, and allowances in accordance with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, Agentcustomary industry practice.

Appears in 2 contracts

Sources: Dip Credit Agreement (Storm Cat Energy CORP), Credit Agreement (Storm Cat Energy CORP)

Accounting System. Maintain a system of accounting that enables Parent ----------------- and each of its Subsidiaries to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by AgentLender. Loan Parties Parent and its Subsidiaries also shall keep a an inventory reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, AgentInventory.

Appears in 2 contracts

Sources: Loan and Security Agreement (Microstrategy Inc), Loan and Security Agreement (Microstrategy Inc)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries Borrowers to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parties Borrowers also shall keep a an inventory reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, AgentInventory.

Appears in 2 contracts

Sources: Loan and Security Agreement (Big Dog Holdings Inc), Loan and Security Agreement (Big Dog Holdings Inc)

Accounting System. Maintain a system of accounting that enables Parent Parent, Borrowers and its their respective Subsidiaries to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agentthe Required Lenders. Loan Parties Parent and the Borrowers also shall keep a reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their respective Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, Agent.

Appears in 2 contracts

Sources: Loan and Security Agreement (Evergreen Holdings Inc), Loan and Security Agreement (Trust Created February 25 1986)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parties Parent and its Subsidiaries also shall keep a reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, Agent.

Appears in 2 contracts

Sources: Credit Agreement (Foothills Resources Inc), Dip Credit Agreement (Foothills Resources Inc)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information consistent with records maintained by Borrower as from time to time reasonably may be requested by Agent. Loan Parties also shall keep a reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to of the Closing Date and shall only make material modifications thereto with notice to, and consent of, AgentDate.

Appears in 1 contract

Sources: Loan and Security Agreement (Interdent Inc)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries Borrowers to produce financial statements in accordance with GAAP and maintain records 71 73 pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parties Parent and Borrowers also shall keep a an inventory reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, AgentInventory.

Appears in 1 contract

Sources: Loan and Security Agreement (Hypercom Corp)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by AgentLender. Loan Parties Borrower also shall keep a reporting system that shows all additions, sales, claims, returns, and allowances with respect to their its and their its Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, Agent.

Appears in 1 contract

Sources: Loan and Security Agreement (Lazy Days R.V. Center, Inc.)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries to produce consolidated financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parties Obligors, taken as a whole, also shall keep a an inventory reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, AgentInventory.

Appears in 1 contract

Sources: Loan Agreement (Philip Services Corp/De)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parties also shall keep a reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, Agent.

Appears in 1 contract

Sources: Credit Agreement (Velocity Express Corp)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agentthe Noteholder Group. Loan Parties Parent and its Subsidiaries also shall keep a an inventory reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, AgentInventory.

Appears in 1 contract

Sources: Note, Guaranty and Security Agreement (Midas Inc)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parties Parent also shall keep a reporting system that shows all additions, sales, claims, returns, and allowances with respect to their its and their its Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, Agent.

Appears in 1 contract

Sources: Loan and Security Agreement (eTelecare Global Solutions, Inc.)

Accounting System. Maintain a system of accounting that enables Parent ----------------- Parent, SK and its Subsidiaries Borrowers to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parties Borrowers also shall keep a an inventory reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, AgentInventory.

Appears in 1 contract

Sources: Loan and Security Agreement (Learningstar Corp)

Accounting System. Maintain a system of accounting that enables the Parent and its Subsidiaries to produce consolidated financial statements in accordance with GAAP and maintain consolidated records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parent or one or more Credit Parties also shall keep a an inventory reporting system that shows all additions, sales, claims, returns, and allowances with respect to their Inventory of the Credit Parties and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, Agent.

Appears in 1 contract

Sources: Loan and Guaranty Agreement (Payless Shoesource Inc /De/)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parties also shall keep a reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, Agent.

Appears in 1 contract

Sources: Loan and Security Agreement (Paincare Holdings Inc)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries each Subsidiary to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parties Active Obligors also shall keep a reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, Agent.

Appears in 1 contract

Sources: Credit Agreement (Bookham, Inc.)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries Borrowers to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parties Parent and Borrowers also shall keep a reporting system syst em that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, Agent.

Appears in 1 contract

Sources: Credit Agreement (Primedex Health Systems Inc)

Accounting System. Maintain a system of accounting that enables Parent and its Subsidiaries Borrower to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Loan Parties Borrower also shall keep a an inventory reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, AgentInventory.

Appears in 1 contract

Sources: Loan and Security Agreement (Big Dog Holdings Inc)

Accounting System. Maintain a system of accounting that enables the Credit Parties and Parent and its Subsidiaries to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agentthe Purchasers. Loan The Credit Parties also shall keep a an inventory reporting system that shows all additions, sales, claims, returns, and allowances with respect to their and their Subsidiaries' sales. Loan Parties shall also maintain their billing systems/practices as approved by Agent prior to the Closing Date and shall only make material modifications thereto with notice to, and consent of, AgentInventory.

Appears in 1 contract

Sources: Securities Purchase Agreement (LSB Industries Inc)