Related to Construction work in progress (CWIP)

Construction in Progress means each Property that is either (a) new ground up construction or (b) under renovation in which (i) greater than thirty percent (30%) of the square footage of such Property is unavailable for occupancy due to renovation and (ii) no rents are being paid on such square footage. A Property will cease to be classified as “Construction in Progress” on the earlier to occur of (A) the time that such Property has an Occupancy Rate of greater than eighty percent (80%), or (B) one hundred eighty (180) days after completion of construction or renovation of such Property, as applicable.
Work in Progress means a Deliverable that has been partially prepared, but has not been presented to the State for Approval.
Construction Work means any work in connection with⎯
Construction Works means all works and things necessary to complete the Project Facilities in accordance with this Agreement;
Construction Plant means appliances, machinery with necessary supply to up keep and maintenance of the works or temporary works but dose not include materials or other things intended to form part of the permanent work.

Construction work in progress (CWIP) definition