Contract Backlog definition

Contract Backlog has the meaning set forth in Section 4.27.

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Contract Backlog means the Company's fair estimation of revenue in firm contracts and relevant optional periods for MODU and Platform Drilling measured in USD - subject to variations in currency exchange rates.

Contract Backlog means at any relevant time the aggregate gross remaining revenues payable under the then backlog of committed contracts of commercial employment of offshore drilling units owned by companies within the Group.

Examples of Contract Backlog in a sentence

• Since the date of the most recent balance sheet in the Financial Statements, there has not been a material (more than 10%) reduction in total Contract Backlog.

• The revenue amounts comprising the Contract Backlog, individually and in the aggregate, constitute the best estimate of such amounts as of such date, based upon presently existing facts and circumstances.

• There has not been any adverse change to the total Contract Backlog since April 30, 2004.

• Schedules 3.21 sets forth a report of the Contract Backlog for each Company Entity performing Government Contracts and Government Subcontracts as of the end of the month ending immediately prior to the date of this Agreement (which schedule shall be updated as of the end of the month ending immediately prior to the Closing Date).

• Schedule 3.20 of the Disclosure Schedules sets forth a report of PMG’s Government Contract Backlog as of June 30, 2007.

• The Contract Backlog amounts set forth on Schedule 4.27, both individually and in the aggregate, constitute Abacus’s best obtainable estimate of such amounts as of such date, based upon then-existing facts and circumstances known to Abacus.

• Schedule 4.27 sets forth a complete and accurate list, on a contract-by-contract basis determined as of March 31, 2008, of the Contract Backlog of the Company and its Subsidiaries.

• Upon each request, or monthly while the Line of Credit maintains a balance or Letters of Credit are issued under the Line of Credit, the Borrower will submit a Borrowing Base Certificate to the Bank together with a copy of a current aging of the Borrower’s accounts receivable, a listing of Furniture, Fixtures, and Equipment, and the Contract Backlog Report.

• Schedule 3.29 sets forth a complete and accurate list, on a contract-by-contract basis determined as of March 31, 2013, of the Contract Backlog of the Company.

• The Contract Backlog amounts set forth on Schedule 3.29, both individually and in the aggregate, constitute Seller’s best obtainable estimate of such amounts as of such date, based upon then-existing facts and circumstances known to Seller and the Company, and are based upon utilizing the existing rates, quotes, contracts, wages and operating costs of Seller.

More Definitions of Contract Backlog

Contract Backlog means revenues projected to be recognized from signed Contracts on hand with respect to which cancellation is not anticipated by Seller. With respect to the Material Contracts listed on Schedule 3.12, each Material Contract which has been funded is so indicated. The Contract Backlog amounts set forth on Schedule 3.30, both individually and in the aggregate, constitute Seller’s best obtainable estimate of such amounts as of such date, based upon then-existing facts and circumstances known to Seller. Since the date of the most recent balance sheet in the Financial Statements, there has not been a material (more than 10%) reduction in total Contract Backlog.

Contract Backlog means an amount equal to the average of (a) the “Backlog” or “Contract Backlog” amount, multiplied by (b) gross margin included in such “Backlog” or “Contract Backlog”, in each case, calculated on a basis consistent with historical reporting practices reflected in, and for the four fiscal quarter period most recently ended in, Borrower’s latest Form 10-Q or Form 10-K; provided that, no amount for Tealstone Residential shall be included in such calculation; provided, further, that to the extent any business, division or assets are divested or disposed of, or acquired, merged, consolidated or amalgamated, in each case, as permitted hereunder, such calculation shall be made after giving pro forma effect to the portion of “Backlog” or “Contract Backlog” attributed to such business, division or assets which is the subject of such divestiture, disposition, acquisition, merger, consolidated or amalgamation. “Contractual Obligation” of any Person shall mean, any indenture, note, security, deed of trust, mortgage, security agreement, lease, license, sublicense, guaranty, instrument, contract, agreement or other form of obligation or undertaking to which such Person is a party or by which such Person or any of its property is bound. “Copyrights” shall mean any and all copyright rights, copyright applications, copyright registrations and like protections in each work or authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret, now or hereafter existing, created, acquired or held. “Default” shall mean any event or circumstance not yet constituting an Event of Default but which, with the giving of any notice or the lapse of any period of time or both, would become an Event of Default. “Default Rate” shall mean, as of any date of determination, an interest rate per annum equal to two percent (2%) in excess of the rate per annum otherwise applicable on such date. “ECF Declined Amount” shall have the meaning set forth in Section 2.02(d)(iii)(C). “ECF Prepayment Offer” shall have the meaning set forth in Section 2.02(d)(iii)(A). “ECF Prepayment Offer Date” shall have the meaning set forth in Section 2.02(d)(iii)(A). “EEA Financial Institution” shall mean (i) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (ii) any entity established in an EEA Member Country which is a parent of an institution describ...

Contract Backlog means an amount equal to the average of (a) the “Backlog” or “Contract Backlog” amount, multiplied by (b) gross margin included in such “Backlog” or “Contract Backlog”, in each case, calculated on a basis consistent with historical reporting practices reflected in, and for the four fiscal quarter period most recently ended in, Borrower’s latest Form 10-Q or Form 10-K; provided that, no amount for Tealstone Residential shall be included in such calculation; provided, further, that to the extent any business, division or assets are divested or disposed of, or acquired, merged, consolidated or amalgamated, in each case, as permitted hereunder, such calculation shall be made after giving pro forma effect to the portion of “Backlog” or “Contract Backlog” attributed to such business, division or assets which is the subject of such divestiture, disposition, acquisition, merger, consolidated or amalgamation.