Onerous contracts. There are no long term contracts (i.e. contracts not terminable by the Company without penalty on six months’ notice or less) or onerous or unusual or abnormal contracts (i.e. contracts for capital commitments or contracts differing from those necessitated by the ordinary course of business) binding upon the Company, nor is the Company a party to any contract which contains any onerous or other provision material for disclosure to an intending purchaser of the Sale Shares and no expenses or liabilities of a material amount have been incurred before the date of this Agreement by the Company otherwise than for the purpose of the Company's business.
Onerous contracts. There are no long term contracts (that is, contracts not terminable by the Company without penalty on six months' notice or less) or onerous or unusual or abnormal contracts (that is, contracts for material capital commitments or contracts differing from those in the ordinary course of business) binding upon the Company and no expenses or liabilities of a material amount have been incurred before the date of this Agreement by the Company otherwise than for the purpose of the Company's business.
Onerous contracts the doubt shall be settled in favor of the greatest reciprocity of interest (Id.);
Onerous contracts. Expected Costs Revenue from contracts ⏩ AS 7 requires full loss to be provided for and not just proportionate to % of work completed. ⏩ Provision for loss is made for loss to not otherwise recognized. ⬤ Amount of such a loss is determined irrespective of whether work has commenced or stage of completion etc. ⬤ General administration overhead not specifically reimbursable ⬤ Selling Costs ⬤ Abnormal loss ⬤ Research & development cost unless specifically reimbursable ⬤ B. cost unless AS 16 permits. ⬤ Dep. on idle p&m, not used in contract ⬤ Contract costs recovery of which is not probable are recognised as an expense immediately. (Examples claims not fully enforceable, completion subject to pending litigation or legislation, relating to properties that are likely to be condemned or expropriated, customer unable to meet obligations; or contractor is unable to complete the contract.
Onerous contracts. If the Supplier publicly designates the Agreement as an Onerous Contract (including where the Supplier has identified the Agreement as such in any published accounts or public reports and announcements), the Supplier shall promptly notify the Authority of the designation and shall prepare and deliver to the Authority within the timescales agreed by the Parties (an in any event, no later than 2 months following the publication of the designation) a draft Onerous Contract Report which includes the following: An initial root cause analysis of the issues and circumstances which may have contributed to the Agreement being designated as an Onerous Contract; An initial risk analysis and impact assessment on the provision of the Services as a result of the Supplier’s designation of the Agreement as an Onerous Contract; the measures which the Supplier intends to put in place to minimise and mitigate any adverse impact on the provision on the Services; details of any other options which could be put in place to remove the designation of the Agreement as an Onerous Contract and/or which could minimise and mitigate any adverse impact on the provision of the Services. Following receipt of the Onerous Contract Report, the Authority shall review and comment on the report as soon as reasonably practicable and the Parties shall cooperate in good faith to agree the final form of the report, which shall be submitted to the Programme Board, such final form report to be agreed no later than 1 month following the Authority’s receipt of the draft Onerous Contract Report. The Programme Board shall meet within 14 Working Days of the final Onerous Contract Report being agreed by the Parties to discuss the contents of the report; and the Parties shall procure the attendance at the meeting of any key participants where reasonably required (including the Cabinet Office Markets and Suppliers team where the Supplier is a Strategic Supplier; representatives from any Key Sub-contractors/Monitored Suppliers; and the project’s senior responsible officers (or equivalent) for each Party). The Supplier acknowledges and agrees that the report is submitted to the Authority and Programme Board on an information only basis and the Authority and Programme Board’s receipt of and comments in relation to the report shall not be deemed to be an acceptance or rejection of the report nor shall it relieve the Supplier of any liability under this Agreement. Any Changes to be agreed by the Parties pursuant ...
Onerous contracts. 12.3 The Company is not a party to or liable under any agreement which:
Onerous contracts. So far as the Sellers are aware, the Company has not accepted any order for the supply of any product to be delivered after 31 March 2001 which, at the date of acceptance of that order, would give rise to any loss against the Company's standard cost after taking account of any penalties for late delivery. 107
Onerous contracts. The Company has not entered into any contract or commitment of an unusual or onerous nature which in the context of this Deed, might be material for disclosure since the Audited Accounts Date.
