Contracts in Progress Clause Samples
The "Contracts in Progress" clause defines how ongoing contracts are treated during a specific event, such as a merger, acquisition, or termination of a business relationship. It typically outlines whether existing agreements will continue, be assigned to another party, or be terminated, and may specify the obligations of each party regarding work already performed or payments due. This clause ensures that there is clarity and continuity regarding the status of active contracts, preventing disputes and confusion about rights and responsibilities during transitional periods.
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Contracts in Progress. In consideration for its efforts in obtaining the Contracts in Progress, TPR shall retain 40% of the Contract in Progress Receipts with respect to each Contract in Progress. The remaining 60% of the Contract in Progress Receipts with respect to each such Contract in Progress shall be allocated between TPR and the Licensee proportionately based on the percentage of the Marketing Services delivered by each party under such Contract in Progress; provided that the maximum amount of Licensee’s portion of the Contract in Progress Receipts shall be $676,055.60, and TPR shall pay the Licensee such amount solely by paying the Licensee an amount in cash equal to 44% of the AS Tech Contract Receipts until Licensee has received such amount, after which TPR shall have no further obligation to pay Licensee under this Section 4.1(b). The amounts paid by TPR to the Licensee pursuant to the prior sentence from the AS Tech Contract Receipts is in addition to the payment set forth in Section 4.1(a) above.
Contracts in Progress. Seller shall forward promptly to Buyer any monies, checks or instruments received by Seller after the Closing Date with respect to the Contracts in Progress and any monies, checks or instruments received by Seller after the Closing Date with respect to Accounts Receivable.
Contracts in Progress. The sale of the Shares shall not have any effect on the contracts existing between the Companies and third parties and there is no and shall not be upon the Closing Date any contract to which the Companies are a party that provides for early termination or a modification in the conditions in the event of a change of majority in the general meetings of the shareholders or in the event of a modification in the composition of the administrative or management structures of the Companies, with the exception of those in the exhibits (EXHIBIT 18).
Contracts in Progress. Pursuant to the provisions of Sections 3.1 and 3.2 hereof, Seller shall remit to Buyer the aggregate amount of prepaid customer maintenance fees as of the Closing Date, together with the aggregate amount of payments received by Seller with respect to other customer contracts in progress at the Closing Date in excess of revenues earned by Seller at such date, all as set forth in Schedule 2.3 (inclusive of prepaid customer maintenance fees, the "Customer Prepayments"). Buyer agrees to remit to Seller, promptly upon Buyer's receipt thereof, customer payments attributable to revenues earned by Seller as of the Closing Date as calculated pursuant to Schedule 2.3.
Contracts in Progress. Within forty-five (45) days after the end of each of the quarters of each fiscal year of the Borrower, a contracts in progress report, in such form and detail as the Lender shall require, certified by the chief financial officer of the Borrower;
Contracts in Progress. 50 SECTION 5.12 TRADEMARK; USE OF NAME..........................................51 SECTION 5.13
Contracts in Progress. As at June 30, 2020, the aggregate amount of construction cost incurred and recognised profits or losses to date for contracts in progress of the Company and its subsidiaries was approximately Baht 6,189 million (the Company only: Baht 2,208 million), gross amounts due from customers for contracts in progress were approximately Baht 1,606 million (the Company only: Baht 725 million), and gross amounts due to customers for contracts in progress were approximately Baht 884 million (the Company only: Baht 362 million).
Contracts in Progress. The Seller and the Members shall forward promptly to the Purchaser any monies, checks or instruments received by the Seller or such Member after the Closing Date with respect to the Contracts in Progress on account of work performed on or after June 1, 2000 (other than Contingent Contracts that shall be treated in accordance with Section 2.09) and the Purchaser shall forward promptly to the Seller or the Members any monies, checks or instruments received by the Purchaser, Luminant or any of its Subsidiaries after the Closing Date with respect to Accounts Receivable relating to work performed to and including May 31, 2000. From and after the Closing, the Seller and each Member shall refer all Customer and other inquiries relating to the Business to the Purchaser.
Contracts in Progress. EXHIBIT 18 herein lists also all the contracts to which one of the Companies is a party at the date hereof:
(i) granting an exclusivity;
(ii) with a term of more than one year or requiring a consideration exceeding FRF 1,000,000 (one million); or
(iii) requiring in case of termination, the payment of an indemnity, fine or other amount exceeding FRF 1,000,000 (one million) or in the case of an employment contract the payment of an indemnity exceeding the indemnity provided for by law or under collective agreements. None of the contracts breaches a mandatory provision of a law or of a by-law and the Companies may require that the said contracts be performed according to their terms. None of the parties to these contracts have breached the obligations which would result in the termination of the contract and in the payment of an indemnity. No discussions are in progress seeking to modify or terminate one of these contracts, with the exception of those contained in EXHIBIT 18. Between the date hereof and the Closing date, no contract within one of the above categories shall be concluded without the prior and written consent of the Beneficiary.
Contracts in Progress. Licensee will manage TPR’s relationships under each Contract in Progress and use its reasonable best efforts to perform or manage the performance of each of TPR’s obligations under each Contract in Progress, including, without limitation, the provision of all Marketing Services and the management and collection of Accounts Receivable on behalf of TPR arising under each Contract in Progress.