Contract Backlog definition

Contract Backlog has the meaning set forth in Section 4.27.
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Contract Backlog means at any relevant time the aggregate gross remaining revenues payable under the then backlog of committed contracts of commercial employment of offshore drilling units owned by companies within the Group.
Sample 1
Contract Backlog means an amount equal to the average of (a) the “Backlog” or “Contract Backlog” amount, multiplied by (b) gross margin included in such “Backlog” or “Contract Backlog”, in each case, calculated on a basis consistent with historical reporting practices reflected in, and for the four fiscal quarter period most recently ended in, Borrower’s latest Form 10-Q or Form 10-K; provided that, no amount for Tealstone Residential shall be included in such calculation; provided, further, that to the extent any business, division or assets are divested or disposed of, or acquired, merged, consolidated or amalgamated, in each case, as permitted hereunder, such calculation shall be made after giving pro forma effect to the portion of “Backlog” or “Contract Backlog” attributed to such business, division or assets which is the subject of such divestiture, disposition, acquisition, merger, consolidated or amalgamation. “Contractual Obligation” of any Person shall mean, any indenture, note, security, deed of trust, mortgage, security agreement, lease, license, sublicense, guaranty, instrument, contract, agreement or other form of obligation or undertaking to which such Person is a party or by which such Person or any of its property is bound. “Copyrights” shall mean any and all copyright rights, copyright applications, copyright registrations and like protections in each work or authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret, now or hereafter existing, created, acquired or held. “Default” shall mean any event or circumstance not yet constituting an Event of Default but which, with the giving of any notice or the lapse of any period of time or both, would become an Event of Default. “Default Rate” shall mean, as of any date of determination, an interest rate per annum equal to two percent (2%) in excess of the rate per annum otherwise applicable on such date. “ECF Declined Amount” shall have the meaning set forth in Section 2.02(d)(iii)(C). “ECF Prepayment Offer” shall have the meaning set forth in Section 2.02(d)(iii)(A). “ECF Prepayment Offer Date” shall have the meaning set forth in Section 2.02(d)(iii)(A). “EEA Financial Institution” shall mean (i) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (ii) any entity established in an EEA Member Country which is a parent of an institution describ...
Sample 1

Examples of Contract Backlog in a sentence

  • Since the date of the most recent balance sheet in the Financial Statements, there has not been a material (more than 10%) reduction in total Contract Backlog.

  • The revenue amounts comprising the Contract Backlog, individually and in the aggregate, constitute the best estimate of such amounts as of such date, based upon presently existing facts and circumstances.

  • Schedule 4.27 sets forth a complete and accurate list, on a contract-by-contract basis determined as of Closing Date, of the Contract Backlog of Abacus.

  • Total Contract Backlog excludes revenue resulting from mobilization and demobilization fees, contract preparation, capital or upgrade reimbursement, recharges, bonuses and other revenue sources and is not adjusted for planned out-of-service periods during the contract period.

  • Total Contract Backlog (in contracted rig years) is calculated as our total number of contracted rig years based on firm commitments, which illustrates the time it would take one jack-up rig to perform the obligations under all agreements for all rigs consecutively.

  • These operational and financial measures include the following: Operational Measures Total Contract Backlog Our Total Contract Backlog includes only firm commitments for contract drilling services represented by definitive agreements.

  • Total Contract Backlog (in $ millions) is calculated as the maximum contract drilling dayrate revenue that can be earned from a drilling contract based on the contracted operating dayrate.

  • There has not been any adverse change to the total Contract Backlog since April 30, 2004.

  • The Contract Backlog amounts set forth on Schedule 4.27, both individually and in the aggregate, constitute Abacus’s best obtainable estimate of such amounts as of such date, based upon then-existing facts and circumstances known to Abacus.

  • Our Total Contract Backlog (excluding backlog from joint venture operations which earn related party revenue) was $1,206.5 million as of December 31, 2023 and $929.8 million as of December 31, 2022.


More Definitions of Contract Backlog

Contract Backlog means the Company's fair estimation of revenue in firm contracts and relevant optional periods for MODU and Platform Drilling measured in USD - subject to variations in currency exchange rates.
Sample 1
Contract Backlog means revenues projected to be recognized from signed Contracts on hand with respect to which cancellation is not anticipated by Seller. With respect to the Material Contracts listed on Schedule 3.12, each Material Contract which has been funded is so indicated. The Contract Backlog amounts set forth on Schedule 3.30, both individually and in the aggregate, constitute Seller’s best obtainable estimate of such amounts as of such date, based upon then-existing facts and circumstances known to Seller. Since the date of the most recent balance sheet in the Financial Statements, there has not been a material (more than 10%) reduction in total Contract Backlog.
Sample 1
Contract Backlog means an amount equal to the average of (a) the “Backlog” or “Contract Backlog” amount, multiplied by (b) gross margin included in such “Backlog” or “Contract Backlog”, in each case, calculated on a basis consistent with historical reporting practices reflected in, and for the four fiscal quarter period most recently ended in, Borrower’s latest Form 10-Q or Form 10-K; provided that, no amount for Tealstone Residential shall be included in such calculation; provided, further, that to the extent any business, division or assets are divested or disposed of, or acquired, merged, consolidated or amalgamated, in each case, as permitted hereunder, such calculation shall be made after giving pro forma effect to the portion of “Backlog” or “Contract Backlog” attributed to such business, division or assets which is the subject of such divestiture, disposition, acquisition, merger, consolidated or amalgamation.
Sample 1

Related to Contract Backlog

  • Backlog means we have an executed order with a buyer but the settlement did not occur prior to report date.

  • CFD Contract or "CFD" shall mean a contract which is a contract for difference by reference to fluctuations in the price of the relevant security or index;

  • Customer Contracts means any and all Contracts with customers of the Company, including professional services agreements, supply agreements, service agreements, license agreements, maintenance and development agreements and consulting agreements.

  • Contract Work means everything required to be furnished and done by the Contractor by any one or more of the parts of the Contract referred to in Article 1, except Extra Work as hereinafter defined.

  • Contract base bid means the total dollar amount a contractor bids on a contract without factoring any bid incentive or percentage reductions to the bid amount.

  • Contract Cost means the Contract Sum plus Price Variation. This cost shall be included in the letter of acceptance.

  • Business Contracts has the meaning ascribed to it in Section 1.01(a)(v).

  • Cost-reimbursement contract means a contract under which a contractor is reimbursed for costs which are allowable and allocable in accordance with the contract terms and the provisions of this code, and paid a fee, if any.

  • Medicare cost report means CMS-2552-10, the cost report for electronic filing of

  • Supply Contracts means contracts having as their object the purchase, lease, rental or hire-purchase, with or without an option to buy, of products. A supply contract may include, as an incidental matter, siting and installation operations;

  • Scheduled Contracts has the meaning set forth in Section 4.16.

  • Related Contracts is defined in clause (c) of Section 2.1.

  • List of Approved Contractors means a list developed by each Transmission Owner and published in a PJM Manual of (a) contractors that the Transmission Owner considers to be qualified to install or construct new facilities and/or upgrades or modifications to existing facilities on the Transmission Owner’s system, provided that such contractors may include, but need not be limited to, contractors that, in addition to providing construction services, also provide design and/or other construction-related services, and (b) manufacturers or vendors of major transmission-related equipment (e.g., high-voltage transformers, transmission line, circuit breakers) whose products the Transmission Owner considers acceptable for installation and use on its system.

  • Contract Item or “Contract Items” means the list of items identified in Section

  • Approved Contractor means an “Approved Contractor” specified in the Key Details.

  • Project Contracts means collectively this Agreement, the Land Lease Agreement, the Construction Contract, O&M Contracts (if any) and any other material contract (other than the Financing Documents) entered into or may hereafter be entered into by the Concessionaire in connection with the Project;

  • Job order contracting means a project delivery method in which:

  • Contract Charges means charges that accrue during a given month as defined in Article III. “Contract Term” is defined in Article IV.

  • Prepaid contract means a contract requiring payment in advance for funeral or cemetery services or merchandise, physical delivery and retention of which would occur after death under a guaranteed price contract or a nonguaranteed price contract. Prepaid contracts do not include a contract for the sale of merchandise or funeral or cemetery services entered into after the death of the contract beneficiary.

  • Procurement Contract or “Contract” means any written agreement of the Authority for the acquisition of goods or services of any kind in the actual or estimated amount of $25,000, or more.

  • Customer Contract means any contract or other agreement for the delivery of goods or performance of services by the Company or any of its Subsidiaries.

  • Contract Sales Price means the total consideration received by the Company for the sale of an Investment.

  • Related Contract means: (i) in relation to the SwapClear Service, a RelatedSwapClear Contract (as such term is defined in the Procedures); (ii) in relation to the RepoClear Service, a Related RepoClear Contract (as such term is defined in the Procedures); (iii) in relation to the ForexClear Service, a Related ForexClear Contract (as such term is defined in the Procedures); (iv) in relation to the EquityClear Service, a Related EquityClear Contract (as such term is defined in the Procedures); (v) in relation to the Listed Interest Rates Service, a Related Listed Interest Rates Contract (as such term is defined in the Procedures)"Relevant Auction Contract"has the meaning given to the term in the Client Clearing Annex"Relevant Business"has the meaning as described in Default Rule 15(c)"Relevant Client Clearing Business"means the Client Clearing Business conducted by a particular Clearing Member in a particular Service"Relevant Contract"has the meaning assigned to it in the Client Clearing Annex"Relevant Default"has the meaning ascribed to it in Rule S1 of Part A of the Rates Service Default Fund Supplement - SwapClear, Rule F2 of the ForexClear Default Fund Supplement or Rule R2 of the RepoClear Default Fund Supplement, as applicable"Relevant FX Amounts"means, in respect of a ForexClear Option Clearing Member and a day, all amounts that are due to be received by such ForexClear Option Clearing Member on such day under a ForexClear Option Contract, ForexClear Swap Contract, ForexClear Deliverable Forward Contract and/or ForexClear Spot Contract in any ForexClear Currency"Relevant FX Liability"has the meaning assigned to it in Regulation 101"re-opening contract"means a contract arising pursuant to Regulation 30(b) or 30(c)"RepoClear Additional Payments Cap"means, in respect of a RCM on any date, an amount equal to the Clearing Member Current Collateral Balance of that RCM in connection with its RepoClear Business as at the date of the Default causing losses leading to an Insufficient Resources Determination (or, where such an Insufficient Resources Determination is made following concurrent Defaults, the date of the earliest Default)"RepoClear Business"means any transaction, obligation or liability arising out of any Fixed Income Contract

  • Training Contract means an agreement signed by the employer and the Apprentice or Trainee (and a parent or guardian if applicable), in accordance with the Act and Regulatory requirements.

  • Applicable Contracts has the meaning set forth in Section 2.1(d).

  • Contract Schedule means a schedule to this Contract;