Recognized Accounting Principles definition

Recognized Accounting Principles means GAAP, tax, cash basis or other accounting principles acceptable to Bank and applied on a consistent basis from one period to another.
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Recognized Accounting Principles is defined in the Deed of Trust.
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Examples of Recognized Accounting Principles in a sentence

  • Borrower shall pay all Taxes levied on the Property before the date on which such taxes become delinquent; provided no such Taxes need to be paid to the extent such Taxes are being contested in good faith by appropriate proceedings, Borrower has established adequate reserves in accordance with Recognized Accounting Principles, and the taxing authority has not filed any action to foreclose any tax lien it may have with respect to such Taxes.

Related to Recognized Accounting Principles

  • Accounting Principles means the international financial reporting standards (IFRS) within the meaning of Regulation 1606/2002/EC (or as otherwise adopted or amended from time to time).

  • Agreed Accounting Principles means the accounting principles, procedures and methodologies set forth on Schedule 1.01(a).

  • Applicable Accounting Principles means, with respect to the Borrower, those accounting principles required by the ICA and prescribed by the SEC for the Borrower and, to the extent not so required or prescribed, GAAP.

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.

  • Generally Accepted Accounting Principles or “GAAP” means generally accepted accounting principles in the United States, consistently applied, which are in effect on the date of this Indenture.