Progress Billing definition
Progress Billing means any invoice for goods sold or services rendered under a contract or agreement pursuant to which the Account Debtor’s obligation to pay such invoice is conditioned upon any Obligor’s or any Subsidiary of an Obligor’s completion of any further performance under the contract or agreement; provided that in no event will any invoice for rent under a Lease be considered a Progress Billing.
Progress Billing means any invoice for goods sold or leased or services rendered under a contract or agreement pursuant to which the account debtor's obligation to pay such invoice is conditioned upon the Borrower's or any of the Domestic Subsidiaries' completion of any further performance under the contract or agreement;
Progress Billing means any invoice for goods sold or leased or services rendered under a contract or agreement pursuant to which the Account Debtor’s obligation to pay such invoice is conditioned upon the Credit Party’s completion of any further performance under the contract or agreement.
Examples of Progress Billing in a sentence
The maximum amount of Eligible Progress Billing Accounts which may be included as part of the Borrowing Base is $1,000,000.
Subject to the other provisions of this Agreement, payments to Subcontractor for constructing each System shall be paid for progress achieved, pursuant to the Progress Billing method defined above and set forth in Section 5.3 hereof, based on the System Prices set forth in Exhibit A.
Commencing on September 15, 1999 and on the 15th day -------------------- of each month thereafter, Borrower shall furnish a report detailing the aging of Accounts Receivable of Borrower, the Borrowing Base Certificate as of the last day of the preceding month, a Customer Advance Payment Report in the form attached as Schedule 5.9.1(a) and a Progress Billing Report detailing deposits made by customers on orders as customarily maintained by Borrower in the form attached as Schedule 5.9.1(b).
Payment will not be made for Work or materials in advance, nor for Work not completed prior to the date listed in the Progress Billing Form unless approved in advance by CPS Energy.
Progress Billing (periodic invoices) for Milestone Achievement shall be implemented when the contract price exceeds $200,000.
More Definitions of Progress Billing
Progress Billing means any invoice for goods sold or leased or services rendered under a contract or agreement pursuant to which the Account Debtor’s obligation to pay such invoice is conditioned upon such Person’s completion of any further performance under the contract or agreement. or $ if for goods held for rent, not from the rental by any Loan Party or such Canadian Subsidiary as the lessor of goods owned by such Person d. due from an Account Debtor that has more than 33% of its aggregate Receivables owed to the Loan Parties and the Canadian Subsidiaries more than 120 days past the invoice date (for the avoidance of doubt, such calculation shall aggregate all Receivables owed by such Account Debtor to any one or more Loan Party or Canadian Subsidiary) $ e. owed by an Account Debtor that any Loan Party or such Canadian Subsidiary does not deem to be creditworthy $ owed by an Account Debtor that any Loan Party or such Canadian Subsidiary deems to be creditworthy but is owed by an Account Debtor which has (i) applied for, suffered or consented to the appointment of any receiver, custodian, trustee or liquidator of its assets, (ii) has had possession of all or a material part of its property taken by any receiver, custodian, trustee or liquidator, (iii) filed, or had filed against it, any request or petition for liquidation, reorganization, arrangement, adjustment of debts, adjudication as bankrupt, winding up, or voluntary or involuntary case under any Debtor Relief Laws, (iv) has admitted in writing its inability to, or is generally unable to, pay its debt as they become due, (v) become insolvent, or (vi) ceased operation of its business, other than, in each case, to the extent that such Receivable, whether occurring post or pre-petition, is (A) owed by an Account Debtor that has filed a motion in a proceeding under any Debtor Relief Law to pay its trade creditors (without excluding such Loan Party or such Canadian Subsidiary) during the pendency of such proceedings and such motion has not been denied by the court or (B) owed by an Account Debtor as to which an order confirming a plan of reorganization has been entered and the transactions contemplated by such plan have been consummated $
Progress Billing means any Account represented by an invoice, payable to any Company pursuant to an Acceptable Progress Payment Contract.
Progress Billing means any invoice for goods sold or leased or services rendered under a contract or agreement pursuant to which the Account Debtor's obligation to pay such invoice is conditioned upon the completion of any further performance by the Company, Kaiser Bellwood or KAII under the contract or agreement.
Progress Billing means any invoice for goods sold or services rendered under a contract or agreement pursuant to which the Account Debtor’s obligation to pay such invoice is conditioned upon any Obligor’s or any Subsidiary of an Obligor’s completion of any further performance under the contract or agreement; provided that in no event will any invoice for rent under a Lease be considered a Progress Billing. “Proposed Change” has the meaning specified in Section 12.1(b). “Proprietary Rights” means all of each Obligor’s and each of its Subsidiary’s now owned or hereafter arising or acquired patents, patent rights, industrial designs, copyrights, works which are the subject matter of copyrights, trademarks, service marks, trade names, trade dress, designs, and patent, trademark and service mark applications, and all licenses and rights related to any of the foregoing, and all other rights under any of the 52 [[5848018]][[DMS:6312716v7:05/07/2024--04:04 PM]] 4861-2153-1574 v.2
Progress Billing means an invoice submitted to Contractor by Subcontractor on the 15th or 30th day of each calendar month (or, if such a date is a holiday, then the first Business Day thereafter) (each a “Billing Date”) for Work performed hereunder and not previously invoiced through the Billing Date.
Progress Billing is an amount owing to Borrower and B & K Steel Fabrications, Inc., an Arizona corporation, (collectively, "Entities"), which has arisen from the delivery and/or shipment of products previously made and from services rendered for which an invoice has been issued by the Entities to its customer ("Customer") with respect to a specific job contracted for by the Customer ("Job"), and which amount is subject to a perfected security interest in favor of Bank and is not subject to any other security interest, lien, claim or encumbrance.
Progress Billing means any invoice for goods sold or services rendered under a contract or agreement pursuant to which the Account Debtor’s obligation to pay such invoice is conditioned upon any Obligor’s or any Subsidiary of an Obligor’s completion of any further performance under the contract or agreement; provided that in no event will any invoice for rent under a Lease be considered a Progress Billing. “Proposed Change” has the meaning specified in Section 12.1(b). “Proprietary Rights” means all of each Obligor’s and each of its Subsidiary’s now owned or hereafter arising or acquired patents, patent rights, industrial designs, copyrights, works which are the subject matter of copyrights, trademarks, service marks, trade names, trade dress, designs, and patent, trademark and service mark applications, and all licenses and rights related to any of the foregoing, and all other rights under any of the 52 [[5848018]][[DMS:6312716v7:05/07/2024--04:04 PM]] 4861-2153-1574 v.2