Work in Process. Except as disclosed in Schedule 3.7 or as set forth in this Section 3.7, (i) all work-in-process and contracts underway ("Work-In-Process") constitute work performed pursuant to fully executed written contracts or sales orders taken in the ordinary course of business, from regular customers of Company with no recent history of credit problems with respect to Company; (ii) neither Company nor any such customer is in material breach of the terms of any obligation to the other, and no valid grounds exist for any set-off of amounts billable to such customers on the completion of orders to which Work-In-Process relates; (iii) all Work-In-Process is of a quality ordinarily produced in accordance with the requirements of the orders to which such Work-In-Process is identified, and will require no rework with respect to services performed prior to Closing; (iv) all Work-In-Process is being conducted pursuant to fully executed written contracts, orders and change orders issued within the terms of the relationship pursuant to which such Work-In-Process is being conducted; and (v) all Work-In-Process set forth on Schedule 3.7 (which as of the date hereof reflects Work-In-Process as of the date of the Recent GAAP Financials, shall be updated to include the schedules supporting the Closing Balance Sheet) could be completed in compliance with the contracts to which each such Work-In-Process relates if managed consistently with the past practices of the Company (and in compliance with industry standards and good practices) without adversely effecting, in the aggregate when complete, the profitability of the Company. With respect to any oral agreements identified on Schedule 3.7 ("Oral Agreements"): (i) all Work-In-Process pursuant to such Oral Agreements constitute work performed pursuant thereto or oral sales orders taken in the ordinary course of business, from regular customers of Company with no recent history of credit problems with respect to Company; (ii) neither Company nor any such customer is in material breach of the terms of any obligation to the other, and no valid grounds exist for any set-off of amounts billable to such customers on the completion of orders to which Work-In-Process relates; (iii) all Work-In-Process is of a quality ordinarily produced in accordance with the requirements of the orders to which such Work-In-Process is identified, and will require no rework with respect to services performed prior to Closing; (iv) all Work-In-Process is being ...
Work in Process. (a) The volume of Work in Process Inventory (as defined in Subsection 7.2(b) below) as measured by the volume in litres of Plasma held and in process, shall not exceed the volume of Plasma picked up by Supplier from CBS and HQ in the previous eight (8) months unless the excess volume is caused directly or indirectly by CBS or HQ. Supplier shall not be responsible for disruption in processing caused by insufficient Plasma available for pickup from CBS or HQ.
Work in Process. 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. 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.
Work in Process. The value of any repair orders which --------------- are in process at the opening of business on the Closing Date shall be the Company's actual cost for parts and labor for such orders as the Company shall have caused to be performed.
Work in Process. Effective from April 1, 2006;
Work in Process. Promptly following Closing, Seller agrees to provide a true, accurate and complete list of the amount of all work in progress performed by Seller under the Assumed Contracts but not billed by Seller before Closing ("Unbilled Work"). Buyer agrees to include the Unbilled Work in its bills to customers under the Assumed Contracts issued by Buyer in the Ordinary Course of Business following the Closing, and to remit to Seller promptly upon receipt of payment from such customers an amount equal to the amount of Unbilled Work (or, if less, the amount of such payment). In addition, after Closing, if Buyer shall receive, directly or indirectly, (i) any refund or other repayment of any retentions under Assumed Contracts that were made before the Closing Date, or (ii) any payment with respect to work under the Assumed Contracts performed and billed by Seller or any of its Subsidiaries prior to Closing, Buyer shall promptly pay or cause to be paid to Seller the amount so received by Buyer.
Work in Process. Amounts represented by the value, as determined in accordance with the related contract in respect thereof, of products and services that shall have been supplied by the Sellers prior to the Closing Date under any contract listed on Schedule 3.01(q) hereto but have not yet given rise to an account receivable of Sellers, payment for which will be included in invoices of Buyers and not Sellers after the Closing Date, which amounts have been identified and set forth by Sellers on Schedule 2.05(a)(iv) hereto.
Work in Process. 4.1 Seller shall observe and comply with Buyer’s existing floor layouts and bin configurations and labeling. Seller shall recommend optimizations to floor layouts and bin container sizes and labeling systems for the components in order to maximize the efficiency of the Services. All such recommendations shall be in accordance with Buyer’s plant engineering requirements and are subject to Buyer approval. Upon request by Buyer, Seller shall be responsible for developing processes and procedures to add, remove, identify, control, maintain, and replace (as needed) containers according to Buyer’s various production requirements.
Work in Process. Schedule 5.27 contains a true aged list of work-in-process related to the Business as of July 31, 2003, all of which are appropriately valued and are billable and collectible in the ordinary course of business.
Work in Process. Work in Progress will be memorialized by schedules supplied as of the closing of business on October 30, 1999, and attached as Exhibit "K".
