Closing WIP definition

Closing WIP means the Company's unbilled work in process, less any reserves for bad debts, as of the Closing Date.
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Examples of Closing WIP in a sentence

  • Not later than three (3) days prior to the Closing Date, Seller shall furnish to Purchaser its calculation of the Closing WIP and Raw Materials Inventory Purchase Price, which shall be based upon the itemized listing of the WIP and raw materials Inventory with the standard cost provided to Purchaser pursuant to the preceding sentence and the valuation methodology set forth in Section 3.2(a) (the "Closing WIP and Raw Materials Inventory Purchase Price").

  • Seller shall certify the truth and accuracy of the Closing WIP Schedule.

  • Buyer and the Company agree that, on reasonable notice during regular business hours, they will permit an independent certified public accountant or knowledgeable auditor, to have access to the Company’s records pertaining to the Gross Profit generated by the work reflected in the Closing WIP Schedule, and to audit and verify the accuracy of the information submitted by Buyer and the Company pursuant to this Agreement.

  • The parties acknowledge that Seller shall have an inventory of work in progress as of the Closing ("WIP").