WIP Schedule definition

WIP Schedule shall have the meaning given in Section 5.25.

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WIP Schedule means the work in progress schedule customarily prepared by Seller detailing relevant price, cost, revenue, profit, billing and percentage complete information (actual and estimates) with respect to its customer contracts. EXHIBIT AND SCHEDULE LIST ------------------------- Exhibits Description -------- ----------- Exhibit 2.3 Escrow Agreement

WIP Schedule is defined in Section 3.24.

Examples of WIP Schedule in a sentence

The WIP Schedule represents the Seller’s reasonable and good faith estimate of the status of the work performed to date and the results of performance and operations of the Seller for the customers and periods referred to in the WIP Schedule.
Part 3.31 of the Disclosure Schedule was, and the Updated Seller’s WIP Schedule will be, prepared by the Seller in good faith and the Seller’s WIP included in Part 3.31 of the Disclosure Schedule was, and the Seller’s Updated WIP Schedule will be, calculated in accordance with the applicable Contract and under revenue recognition principles in accordance with GAAP.
Part 3.31 of the Disclosure Schedule sets forth as of June 30, 2004, and the Updated Seller’s WIP Schedule contemplated by Section 7.10 hereof will set forth, a complete and accurate schedule of all work in process of the Seller (the “Seller’s WIP”) and indicates the Contract under which such work is being performed.
Seller and ▇▇▇▇▇▇ jointly and severally warrant to Buyer that the Closing Date WIP Schedule will accurately, completely and correctly reflect the WIP of the Company as of the Closing Date, will have been prepared from the books and records of the Company and the Business, and will have been prepared in accordance with GAAP and in accordance with the Company’s past accounting practices.
Each WIP Schedule also includes with respect to contracts as of September 30, 2001, the following information: job number, job name, the contract price, the dollar amount of pending change orders, total estimated contract price, actual billings to date, costs to date, total estimated contract costs.
The parties shall mutually update the WIP Schedule as of February 28, 2007.
The WIP Schedule represents Seller’s management’s evaluation of the status of the work performed to date and the financial position of the Contracts, including all unsigned change orders, and the results of performance and operations of the Seller and the Companies regarding the Contracts as of December 31, 2006 and for the periods referred to in the WIP Schedule.
Each of the Company Subsidiaries has delivered to the Buyer a work in progress schedule for each of its contracts as of September 30, 2001 (each, a "WIP Schedule").
At such time as the total aggregate cost to complete all of the jobs for which a Bond has been issued as set forth on the then current WIP Schedule is equal to or less than Ten Million Dollars ($10,000,000), Seller will in good faith consider any reasonable request by Buyer and the Acquired Company to lower the requirements described in clause (B) above.
The WIP Schedule (as defined in Section 3.5) will be jointly updated to reflect the value of the jobs as of February 28, 2007.

More Definitions of WIP Schedule

WIP Schedule has the meaning given to it in Section 4.29.

WIP Schedule showing: (a) the price of each Contract, (b) the status and estimated value of all work completed through January 31, 2019 (the “WIP Date”), (c) the amount of revenue billed and received as of the WIP Date, (d) the retainage withheld from the work billed and the estimated amount of retainage for unbilled completed work, (e) the expected total cost to complete each Contract as of the WIP Date, and (f) the value of the remaining work. The WIP Schedule fairly represents the total estimated Contract costs and values (taking into account man-hours required, project duration, cost of labor and materials, including any escalation thereof, subcontractor costs, and other elements of Contract costs), and, except as set forth on Section 3.24 of the Disclosure Schedule, there is no dispute over amounts billed thereunder or of any intention to hold back amounts in excess of contractually permitted retainages.

WIP Schedule is defined in Section 2.24.

WIP Schedule has the meaning given to it in Section 2.28.