Generally Accepted Accounting Principles GAAP

Generally Accepted Accounting Principles GAAP. "GAAP", as used herein, shall be deemed to refer to generally accepted accounting principles in effect in the United States at the time of application thereof; unless otherwise specified herein, all accounting terms used herein shall be interpreted, all determinations with respect to accounting matters hereunder shall be made, and all unaudited financial statements and certificates and reports as to financial matters required to be furnished hereunder shall be prepared, in accordance with... generally accepted accounting principles, applied on a basis consistent with the most recent financial statements of Borrower and Subsidiary delivered pursuant to Section 9 hereof or, if no such statements have been so delivered, the most recent audited financial statements of Borrower and Subsidiaries prepared prior to the date hereof. View More