Common use of WIP Schedule Clause in Contracts

WIP Schedule. Each of the Company Subsidiaries has delivered to the Buyer a work in progress schedule for each of its contracts as of September 30, 2001 (each, a "WIP Schedule"). The WIP Schedules, in the aggregate, fairly represent, in all material respects, the total estimated contract costs (taking into account man-hours required, project duration, cost of labor and materials, including any escalation thereof, subcontractor costs and other elements of contract costs), earned revenues to date, estimated gross profits (in dollar and in percentage) and actual gross profit recognized to date (in dollars). Each WIP Schedule also includes with respect to contracts as of September 30, 2001, the following information: job number, job name, the contract price, the dollar amount of pending change orders, total estimated contract price, actual billings to date, costs to date, total estimated contract costs. Ex▇▇▇▇ ▇▇ set forth on any such WIP Schedule or as provided on the Financial Statements, neither the Seller, the Company nor any Company Subsidiary has been notified of or is aware of any dispute over amounts billed by the Company or any Company Subsidiary or of any intention to hold back amounts in excess of contractually permitted holdbacks.

WIP Schedule. Each of the Company Subsidiaries has delivered to the Buyer a work in progress schedule for each of its contracts as of September 30, 2001 (each, a "WIP Schedule"). The WIP Schedules, in the aggregate, fairly represent, in all material respects, the total estimated contract costs (taking into account man-hours required, project duration, cost of labor and materials, including any escalation thereof, subcontractor costs and other elements of contract costs), earned revenues to date, estimated gross profits (in dollar and in percentage) and actual gross profit recognized to date (in dollars). Each WIP Schedule also includes with respect to contracts as of September 30, 2001, the following information: job number, job name, the contract price, the dollar amount of pending change orders, total estimated contract price, actual billings to date, costs to date, total estimated contract costs. Ex▇Exc▇▇▇ ▇▇ set ▇et forth on any such WIP Schedule or as provided on the Financial Statements, neither the Seller, the Company nor any Company Subsidiary has been notified of or is aware of any dispute over amounts billed by the Company or any Company Subsidiary or of any intention to hold back amounts in excess of contractually permitted holdbacks.