Common use of Progress Updates Clause in Contracts

Progress Updates. Contractor shall provide Company, with monthly status and progress reports and – upon reasonable and justified request of Company – with periodic progress reports in the frequency justified by the situation. In addition Contractor shall provide Company with weekly progress updates. Moreover, Contractor shall provide Company with technical progress reports relating to all completions of relevant parts of Fab X (for example “Fab construction weathertight” or “clean room ready for equipment”) and of milestones provided for in this Agreement and for completions which trigger – under the payment schedule for progress payments attached as Exhibit 7 Payment Schedule - payments on account.