Common use of Process Operations Clause in Contracts

Process Operations. (i) Within three months following the Closing Date, Loan Parties will revise the process for accounts receivable invoice credits and rebills so that the rebilled invoices age based on the original invoice date. (ii) Within six months following the Closing Date, Loan Parties and ▇▇▇▇▇▇▇ will engage Impact Innovations Group or similar third party firm to review the Loan Parties' management information systems, including financial reporting systems. (iii) Within six months following the Closing Date, the Loan Parties and ▇▇▇▇▇▇▇ will revise the Loan Parties' financial reporting systems in the US and Canada so that such systems shall utilize a consistent general ledger chart of accounts. (iv) Within 12 months following the Closing Date, the third party hired to evaluate the Loan Parties' management information systems will present its findings and recommendations in a written report that will be shared with the Loan Parties' Agent, Purchasers and Senior Lender. (v) Within 18 months following the Closing Date, Loan Parties and ▇▇▇▇▇▇▇ will revise the Loan Parties' financial reporting systems in the United States and Canada to provide for consistent percentage of completion methodology (clauses (i) through (v) of this Section 7.1(u) shall be referred to as the "Process Covenants").

Process Operations. (i) Within three months following the Closing Date, Loan Parties will revise the process for accounts receivable invoice credits and rebills so that the rebilled invoices age based on the original invoice date. (ii) Within six months following the Closing Date, Loan Parties and ▇▇▇▇▇▇▇ will engage Impact Innovations Group or similar third party firm to review the Loan Parties' ’ management information systems, including financial reporting systems. (iii) Within six months following the Closing Date, the Loan Parties and ▇▇▇▇▇▇▇ will revise the Loan Parties' ’ financial reporting systems in the US and Canada so that such systems shall utilize a consistent general ledger chart of accounts. (iv) Within 12 months following the Closing Date, the third party hired to evaluate the Loan Parties' ’ management information systems will present its findings and recommendations in a written report that will be shared with the Loan Parties' ’ Agent, Purchasers and Senior Lender. (v) Within 18 months following the Closing Date, Loan Parties and ▇▇▇▇▇▇▇ will revise the Loan Parties' ’ financial reporting systems in the United States and Canada to provide for consistent percentage of completion methodology (clauses (i) through (v) of this Section 7.1(u) shall be referred to as the "“Process Covenants"”).