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Change of Accounting Methods

CategoryGeneral

Clause TypeChange Effects

Definition

This is intended to extract any language about a party's right to change their accounting practices.

Example

(f) Accounting Changes. The Borrower shall not, and shall not permit any Subsidiary to, make any material change in any method of accounting or accounting practice for the Business, except as required by GAAP or as disclosed in the notes to the Borrower's publicly filed financial statements.