PACW » Topics » (r) make any material change in accounting policies or procedures, except as required by GAAP or by a Governmental Entity;

This excerpt taken from the PACW 8-K filed Dec 20, 2005.

(r)            make any material change in accounting policies or procedures, except as required by GAAP or by a Governmental Entity;

(s)           waive, release, assign, settle or compromise any material claims, or any material litigation or arbitration for an amount in excess of $50,000, individually, or $100,000 in the aggregate or which would impose any material restriction on the business of the Company or Acquiror or any of their Subsidiaries or would reasonably be expected to create precedent for claims that are reasonably likely to be material to the Company or Acquiror or any of their Subsidiaries;

(t)            make any material tax election, settle or compromise any material liability for Taxes, amend any Tax Return or file any refund for Taxes, other than in the ordinary course of business or as may be required by a Governmental Entity;

(u)           make any capital expenditures other than capital expenditures in the ordinary and usual course of business consistent with past practice in amounts not exceeding $25,000 individually or $500,000 in the aggregate; or

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