Common use of Changes in Accounting Principles Clause in Contracts

Changes in Accounting Principles. If any Reseller, the Parent Guarantor or any Domestic Subsidiary, at the end of its fiscal year and with the concurrence of its independent certified public accountants, changes its accounting principles from those used in the preparation of any of the financial statements delivered pursuant to Section 10.1(a) and (b) as required by or as result from the promulgation of principles, rules, regulations, guidelines, pronouncements or opinions by the Financial Accounting Standards Board or the American Institute of Certified Public Accountants (or successors thereto or bodies with similar functions), and any of such changes result in a change in the method of calculation of, or affect the results of such calculation of, any of the financial covenants, standards or terms found herein, then the parties hereto agree to enter into and diligently pursue negotiations in order to amend such financial covenants, standards or terms so as to equitably reflect such changes, with the desired result that the criteria for evaluating the financial condition and results of operations of such Reseller, the Parent Guarantor or such Domestic Subsidiary shall be the same after such changes as if such changes had not been made; provided, however, that until such amendments are made, all financial covenants herein and all the provisions hereof which contemplate financial calculation hereunder shall remain in full force and effect.

Changes in Accounting Principles. (a) If any Reseller, the Parent Guarantor or any Domestic Subsidiary, at the end of its fiscal year and with the concurrence of its independent certified public accountants, changes its in accounting principles from those used in the preparation of any of the financial statements delivered pursuant to Section 10.1(a) and (b) as required Initial Financial Statements are hereafter occasioned by or as result from the promulgation of principles, rules, regulations, guidelinespronouncements, pronouncements or opinions by of, or required by, the Financial Accounting Standards Board or the American Institute of Certified Public Accountants (or successors thereto or bodies agencies with similar functions), and or there shall occur any change in any Borrower's fiscal or tax years and, as a result of any such changes, there shall result a change in the method of calculating any of the financial covenants, negative covenants, standards, or other terms or conditions found in this Agreement or any of the other Loan Documents, or (b) if any Borrower, for reasonable business purposes, shall desire to change such changes accounting principles or the application thereof (which change shall be consistent with accounting principles then in effect pursuant to rules, regulations, pronouncements, or opinions of the Financial Accounting Standards Board or the American Institute of Certified Public Accountants) and such desired change would result in a change in the method of calculation of, or affect the results of such calculation of, calculating any of the financial covenants, standards negative covenants or other terms and conditions found hereinin this Agreement or any of the other Loan Documents, then the parties hereto agree to enter into and diligently pursue negotiations in order to amend such financial covenants, standards or terms provisions and the definition of GAAP set forth in subsection 1.1 so as to reflect equitably reflect such changes, changes with the desired result that the criteria for evaluating the financial condition and results performance of operations of such Reseller, the Parent Guarantor or such Domestic Subsidiary Borrowers shall be the same after such changes as if such changes had not been made; provided, however, that until such amendments are made, all financial covenants herein and all the provisions hereof which contemplate financial calculation hereunder shall remain in full force and effect.