Managerial Information Sample Clauses
The Managerial Information clause establishes the obligation for one party, typically the service provider or contractor, to supply relevant information about the management and oversight of a project or service. This may include regular updates on project progress, organizational structure, key personnel, or changes in management that could affect performance. By requiring the disclosure of such information, the clause ensures transparency and enables the other party to monitor and assess the effectiveness of management, thereby reducing the risk of miscommunication or unforeseen issues during the course of the agreement.
Managerial Information. The Service Operators are required to submit to the SWD the following monthly managerial information at quarterly intervals.
Managerial Information. (a) Schedule 4.05(a) sets forth the following financial information (the “Managerial Information”): (i) an unaudited pro forma table of operations of the Business as of and for the fiscal year ended December 31, 2024 (the “Year-End Managerial Information”); (ii) an employee census, and payroll, and unaudited pro forma table of operations of the Business (the “Most Recent Managerial Information”) as of and for the twelve months ended December 31, 2024 (the “Most Recent Fiscal Month End”); and (iii) the working capital statement for the Business for the twelve (12) month period ending on the Most Recent Fiscal Month End. The Managerial Information has been prepared in accordance with the Accounting Standards. Seller has provided Buyer with true and correct copies of all invoices issues by Seller to the customer(s) under the Assigned Contracts between January 1, 2023 and December 31, 2024.
(b) The Managerial Information: (w) was prepared from the Division Books and Records (which Division Books and Records are true, correct and complete in all material respects); (x) presents a reasonable view (subject to the Accounting Standards) in all material respects of the financial position of Seller with respect to the Business as of and at the periods specified therein and the results of operations, earnings and cash flows of Seller for the periods specified therein; (y) is accurate in all material respects; and (z) accurately reflect all costs and expenses of the Business in all material respects.
(c) Seller has no accrued, contingent or other material Liabilities of any nature whatsoever related to the Business or the Purchased Assets except for (i) Liabilities set out or reflected on the face of the Most Recent Managerial Information; (ii) Liabilities of the type set forth on the Most Recent Managerial Information that have been incurred by Seller since the Most Recent Fiscal Month End in the ordinary course of business (none of which is a Liability resulting from noncompliance with any legal requirement, breach of contract, breach of warranty, tort or infringement); (iii) Excluded Liabilities; and (iv) Liabilities disclosed in Schedule 4.05(c).
(d) Schedule 4.05(d) sets forth the January, February, March, April, May, June, July, and August 2024 income statements of the Business. The figures presented thereon were prepared from the Division Books and Records (which Division Books and Records are true, correct and complete in all material respects when considered i...