Common use of Changes in GAAP or IFRS Clause in Contracts

Changes in GAAP or IFRS. If at any time any change in GAAP (or, if the Companies are required to adopt IFRS, then IFRS), would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either Borrower or Required Lenders shall so request, Administrative Agent, the Lenders and Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP or IFRS, as applicable (subject to the approval of Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP or IFRS, as applicable, prior to such change therein and (ii) Borrower shall provide to Administrative Agent 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 or IFRS, as applicable. Notwithstanding any change from GAAP to IFRS, the Companies shall still be required to report all financial calculations pursuant to this Agreement in accordance with GAAP, and to provide a reconciliation of such financial calculations from IFRS to GAAP.