WIP Contract definition

WIP Contract means unfinished customer Contracts that are either Assumed Contracts or Contracts to which any Conveyed Entity is party, which Contracts obligate any Selling Subsidiary or any Conveyed Entity to provide goods or services either (i) with respect to such Contracts in existence as of the date hereof, after the date hereof and where the work is not complete as of the date hereof or (ii) with respect to such Contracts in existence on the Closing Date, after the Closing and where the work is not complete as of the Closing Date.
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WIP Contract means each Contract of any Acquired Company relating to work in process products or services.
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WIP Contract has the meaning set forth in Section 6.2.
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Examples of WIP Contract in a sentence

  • The aggregate WIP Contract amounts are accurately reflected on the April 2019 Balance Sheet in all material respects.

  • This Schedule shall be referred to as the "WIP Schedule" and shall identify, with respect to each contract identified thereon (each a "WIP Contract"), the contract amount, the estimated total costs and gross profit, the amounts billed to date, the costs to date and the over and under billed calculations.

  • In determining the WIP Contract Completion Percentage for each WIP Contract, all inventory stored on the construction site shall be included in the costs expended for that WIP Contract.

  • Parent's pro-rata share of the actual profit or loss shall be the percentage calculated by dividing the total costs in the WIP Adjustment Schedule, less the costs shown on the WIP Schedule, by the total costs in the WIP Adjustment Schedule for the WIP Contract that was Completed.

  • Exhibit B --------- attached hereto sets forth a correct and complete listing, by WIP Contract, of the respective Contract Price and ▇▇▇▇▇▇▇▇ through the date hereof with respect to all of the WIP Contracts.

  • As and when requested by ▇▇▇▇▇▇▇▇, ▇▇▇▇▇ shall permit ▇▇▇▇▇▇▇▇ to enforce that WIP Contract, Other Work-in-Process Contract or performance bond relating thereto against the other party thereto in the name of ▇▇▇▇▇.

  • The Holders have delivered to Buyer a correct and complete copy of each WIP Contract and of each other written agreement listed in Schedule 5.20 (collectively, the "▇▇▇▇ Agreements"), and a written summary setting forth the terms and conditions of each oral agreement referred to in Schedule 5.20.

  • To the extent ▇▇▇▇▇ shall allocate and remit to ▇▇▇▇▇▇▇▇ all of the economic and other benefits of that WIP Contract, Other Work-in-Process Contract or performance bond relating thereto as contemplated above, ▇▇▇▇▇▇▇▇ shall perform for the benefit of the other party to that contract or bond, to the fullest extent permissible under applicable Legal Requirements, all of the obligations of ▇▇▇▇▇ thereunder which first arise or accrue following the Closing (other than Retained Obligations).

  • No customer under any WIP Contract has notified any ▇▇▇▇▇ Party that it intends to withhold or otherwise deduct any amounts that are or may be owing by that customer to that ▇▇▇▇▇ Party following the Closing, on account of or as a set off against any damages incurred by, or indebtedness of that ▇▇▇▇▇ Party owing to, that customer prior to the Closing.

  • Within ten (10) days following Closing, Buyer and Seller shall together engage: (A) an independent third party with familiarity in conducting inventories in the Business (if such disputed matters relate to the WIP Contract Completion Percentage), and/or (B) an independent accounting firm (if such disputed matters relate to the calculation of the WIP Actual Earned Amount or the WIP Adjustment) to review such disputed matter(s) (as applicable, the “Reviewer”).

Related to WIP Contract

  • Company IP Contract means any Contract to which the Company is a party or by which the Company is bound, that contains any assignment or license of, or covenant not to assert or enforce, any Intellectual Property Right or that otherwise relates to any Company IP or any Intellectual Property developed by, with, or for the Company.

  • sub-contract means the primary contractor’s assigning, leasing, making out work to, or employing, another person to support such primary contractor in the execution of part of a project in terms of the contract;

  • Group contract means a contract for health care services which by its terms limits eligibility to members of a specified group. The group contract may include coverage for dependents.

  • IP Contracts means all Contracts pursuant to which a party hereto or any of its Affiliates grants or obtains any rights to use Intellectual Property (other than Contracts in which such Intellectual Property is incidental to such Contracts).

  • Key Sub-Contract means each Sub-Contract with a Key Sub-Contractor;