Training State Street agrees to provide training, at a designated State Street training facility or at the Designated Locations, to the Fund’s personnel in connection with the use of the System on the Designated Configuration. The Fund agrees that it will set aside, during regular business hours or at other times agreed upon by both parties, sufficient time to enable all operators of the System and the Data Access Services, designated by the Fund, to receive the training offered by State Street pursuant to this Addendum.
Financial instruments Financial assets and liabilities are recognized in the Company’s balance sheet when the Company becomes a party to the contractual provisions of the instrument. Financial assets are derecognized when the contractual rights to cash flows from the assets expire or the Company transfers the financial asset and substantially all the risks and rewards of ownership. The Company derecognizes financial liabilities when the Company’s obligations are discharged, cancelled or expire.Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.Classification and measurementThe Company classifies its financial assets and liabilities at initial recognition in the following categories:▪ Financial assets and liabilities at fair value through profit or loss are those assets and liabilities acquired principally for the purpose of selling or repurchasing in the short‐term are recognized at fair value. Transaction costs are expensed in the statement of comprehensive income and gains or losses arising from changes in fair value are also presented in the statement of comprehensive income within other gains and losses in the period in which they arise. Financial assets and liabilities at fair value through profit or loss are classified as current except for the portion expected to be realized or paid beyond twelve months of the balance sheet date, which is classified as non‐current.▪ Available‐for‐sale investments are non‐derivative financial instruments that are designated in this category or not classified in any other categories. They usually comprise marketable securities and investments in debt and equity securities. Available‐for‐sale investments are initially recognized and subsequently measured at fair value. Gains and losses arising from changes in the fair value are recognized in other comprehensive income. Available‐for‐sale investments are classified as non‐current unless the investment matures within the next twelve months or management expects to dispose of them within twelve months. Interest on available‐for‐sale investments is calculated using the effective interest method and is recognized in the statement of comprehensive income within interest income. Dividends on available‐for‐sale equity instruments are recognized in the statement of comprehensive income as other gains and losses when the company’s right to receive payment is established. When an available‐for‐sale investment is sold or impaired the accumulated gains or losses are moved from accumulated other comprehensive income to the statement of comprehensive income within other gains and losses.▪ Loans and receivables comprise of trade receivables and cash and cash equivalents and are financial assets with fixed or determinable payments that are not quoted on an active market and are generally included within current assets due to their short‐term nature. Loans and receivables are initially recognized at fair value and are subsequently measured at amortized cost using the effective interest method less any provision for impairment.▪ Financial liabilities at amortized cost comprise of trade and other payables and are initially recognized at the fair value of the amount expected to be paid and are subsequently measured at amortized cost using the effective interest rate method. Financial liabilities are classified as current liabilities unless the Company has an unconditional right to defer settlement for at least 12 months after the balance sheet date. Impairment of financial assetsAt each reporting date, the Company assesses whether there is objective evidence indicating that a financial asset is impaired including:▪ Significant financial difficulty of the issuer.▪ A breach of contract such as delinquency in interest or principal payments.▪ Active market for that financial asset disappears because of financial difficulties▪ Observable data indicating that there is a measureable decrease in the estimated future cash flows from a portfolio of financial assets since the initial recognition of those assets.If evidence of impairment exists the Company recognizes an impairment loss in the statement of comprehensive income as follows:▪ Financial assets carried at amortized cost ‐ the impairment loss is the difference between the amortized cost of the loan or receivable and the present value of the estimated future cash flows discounted using the instrument’s effective interest rate.▪ Available for sale financial assets – the impairment loss is the difference between the original cost of the asset and its fair value at the measurement date less any impairment losses previously recognized in the statement of comprehensive income.Impairment losses on financial assets carried at amortized cost are reversed in subsequent periods if the amount of the loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized. Impairment losses on available‐for‐sale equity investments are not reversed.
Membership The Committee shall include nine (9) members - five (5) representatives from CUPE/SCFP and four (4) representatives from the CTA. Up to two (2) advisors from the Ministry of Education shall act in a resource capacity to the committee. Other persons may attend meetings in order to provide support and resources as mutually agreed. Up to one (1) representative from each of the four (4) employee bargaining agencies at the other education workers tables will be invited to participate on the Committee.
Summary of Significant Accounting Policies Nature of Business - Congoleum manufactures resilient sheet and tile flooring products. These products, together with a limited quantity of related products purchased for resale, are sold primarily to wholesale distributors and major retailers in the United States and Canada. Based upon the nature of the Company's operations, facilities and management structure, the Company considers its business to constitute a single segment for financial reporting purposes. Basis of Consolidation - The accompanying consolidated financial statements reflect the operations, financial position and cash flows of the Company and include the accounts of the Company and its subsidiaries after elimination of all significant intercompany transactions in consolidation. EXHIBIT C TO THE DISCLOSURE STATEMENT Use of Estimates and Critical Accounting Policies - The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Critical accounting policies are defined as those that entail significant judgments and estimates, and could potentially result in materially different results under different assumptions and conditions. The Company believes that the most critical accounting policies upon which its financial condition depends, and which involve the most complex or subjective decisions or assessments, concern asbestos liabilities, environmental contingencies, valuation of deferred tax assets, and pension plan and post-retirement benefits. Although the Company believes it employs reasonable and appropriate estimates and assumptions in the preparation of its financial statements and in the application of accounting policies, if business conditions are different than the Company has assumed they will be, or if the Company used different estimates and assumptions, it is possible that materially different amounts could be reported in the Company's financial statements. Revenue Recognition - Revenue is recognized when products are shipped and title has passed to the customer. Net sales are comprised of the total sales billed during the period less the sales value of estimated returns and sales incentives, which consist primarily of trade discounts and customers' allowances. The Company defers recognition of revenue for its estimate of potential sales returns under right-of-return agreements with its customers until the right-of-return period lapses. Selling, General and Administrative Expenses - Selling, general and administrative expenses are charged to income as incurred. Expenses promoting and selling products are classified as selling expenses and include such items as advertising, sales commissions and travel. Advertising expense amounted to $1.6 million, $1.8 million and $3.3 million for 2005, 2004 and 2003, respectively. General and administrative expenses include such items as officers' salaries, office supplies, insurance and office rental. In addition, general and administrative expenses include other operating items such as provision for doubtful accounts, professional (accounting and legal) fees, purchasing and environmental remediation costs. Cash and Cash Equivalents - All highly liquid debt instruments with a maturity of three months or less at the time of purchase are considered to be cash equivalents. Restricted Cash - Under the terms of its revolving credit agreement, payments on the Company's accounts receivable are deposited in an account assigned by the Company to its lender and the funds in that account are used by the lender to pay down any loan balance. Restricted cash represents funds deposited in this account but not immediately applied to the loan balance. At December 31, 2005 and 2004, cash of approximately $2.7 and $1.2 million was restricted under this financing agreement. Additionally, $8.9 million remaining from a $14.5 million settlement received in August 2004 from an insurance carrier, which is subject to the lien of the Collateral Trust, is included as restricted cash at December 31, 2005. EXHIBIT C TO THE DISCLOSURE STATEMENT Short-Term Investments - The Company invests in highly liquid debt instruments with strong credit ratings. Commercial paper investments with a maturity greater than three months, but less than one year at the time of purchase, are considered to be short-term investments. The Company maintains cash and cash equivalents and short-term investments with certain financial institutions. The Company performs periodic evaluations of the relative credit standing of those financial institutions that are considered in the Company's investment strategy. Inventories - Inventories are stated at the lower of LIFO cost or market. The LIFO (last-in, first-out) method of determining cost is used for substantially all inventories. The Company records as a charge to cost of goods sold any amount required to reduce the carrying value of inventories to the net realizable sales value. Property, Plant, and Equipment - Property, plant, and equipment are recorded at cost and are depreciated over their estimated useful lives (30 years for buildings, 15 years for building improvements, production equipment and heavy-duty vehicles, 3 to 10 years for light-duty vehicles and office furnishings and equipment) on the straight-line method for financial reporting and accelerated methods for income tax purposes. Costs of major additions and betterments are capitalized; maintenance and repairs which do not improve or extend the life of the respective assets are charged to operations as incurred. When an asset is sold, retired or otherwise disposed of, the cost of the asset and the related accumulated depreciation are removed from the respective accounts and any resulting gain or loss is reflected in operations. Debt Issue Costs - Costs incurred in connection with the issuance of debt have been capitalized and are being amortized over the life of the related debt. Such costs at December 31, 2005 and 2004 amounted to $0.8 million and $1.2 million, respectively, net of accumulated amortization of $2.5 million and $2.6 million, respectively, and are included in other non-current assets. Environmental Remediation - The Company is subject to federal, state and local environmental laws and regulations. The Company records a liability for environmental remediation claims when a cleanup program or claim payment becomes probable and the costs can be reasonably estimated. The recorded liabilities are not discounted for delays in future payments (see Note 16).
Scope of Work The Contractor has overall responsibility for and shall provide and furnish all materials, equipment, tools and labor as necessary or reasonably inferable to complete the Work, or any phase of the Work, in accordance with the Owner’s requirements and the terms of the Contract Documents.
Executive Summary Based on the requirements and qualifications set forth in the Trust and Servicing Agreement, as well as the items listed below, the Operating Advisor (in accordance with the Operating Advisor’s analysis requirements outlined in the Trust and Servicing Agreement) has undertaken a limited review of the Special Servicer’s reported actions on the Mortgage Loan. Based solely on such limited review and subject to the assumptions, limitations and qualifications set forth herein, the Operating Advisor believes, in its sole discretion exercised in good faith, that the Special Servicer [is/is not] operating in compliance with Accepted Servicing Practices with 74 This report is an indicative report and does not reflect the final form of annual report to be used in any particular year. The Operating Advisor will have the ability to modify or alter the organization and content of any particular report, subject to the compliance with the terms of the Trust and Servicing Agreement, including, without limitation, provisions relating to Privileged Information. respect to its performance of its duties under the Trust and Servicing Agreement during the prior calendar year on a “asset-level basis”. [The Operating Advisor believes, in its sole discretion exercised in good faith, that the Special Servicer has failed to materially comply with Accepted Servicing Practices as a result of the following material deviations.] ● [LIST OF MATERIAL DEVIATION ITEMS] In addition, the Operating Advisor notes the following: [PROVIDE SUMMARY OF ANY ADDITIONAL MATERIAL INFORMATION]. [ADD RECOMMENDATION OF REPLACEMENT OF SPECIAL SERVICER, IF APPLICABLE]
Literature Review MyHome is an application for the construction of buildings that will have a lot to do in the current scenario. This application helps individuals to build their homes without any complexities. In this pandemic situation, there is a lot of hindrance for building homes or buildings. Like physical interactions between the clients and workers, monitoring the works, contacting the engineers that clients needed to give the works, etc. The existing method for all these is the traditional way of building a home which needs more effort and money. By implementing an application for construction management can give lots of advantages to our society. For this, we collected a list of workers who are working in the construction field and studied various problems faced by them. The studies regarding the needs of workers and the difficulties faced by the workers are many. The study gives us the idea of how to design our application to make it user-friendly and how to make use of details of workers for selecting them as the workers for theclients using this application. For this secondary data has been collected. From the workers like Plumbers, Electricians, Carpenters, Interior designers and such workers working in the same field. we also collected data from engineers and clients (who need to build). Data like their names, locations, previous works, Photo (identity proofs) are collected from the workers, and data like basic identity information are collected from the clients. And we studied various needs and behavior of clients. We also made a literature survey that deals with literature that explains the main aspects and causes of delays and obstacles while constructing a building.Prof.B.V.Birajdar etl introduced the causes of delay in building construction projects. Delay in Building Construction projects is one of the most common problems. Delay can be defined as time overrun or extension of time to complete the project. Delay is a situation when the actual progress of a construction project is slower than the planned schedule or late completion of the projects. Construction industries are a growing industry all over the world. In Nigeria, Time and cost overruns have been identified as the most important factors responsible for abandonment and contractor failure (Elinwa and Uba 2001). Although the Indian industry has gained far more importance in recent because of the opening up of Indian markets and the arrival of megaprojects for infrastructure development, the performance of Indian construction projects. A study conducted by the Infrastructure and Project Monitoring Division of Ministry of Statistics and Programme Implementation (http://www.mospi.nic.in) Reports that out of 646 central sector projects (which are of the order of more than $4.45 million) Costing around $50trillion and average project duration of 6 to 7 years, about 40% are behind schedule and the delay ranges from 1 to 252 months. The schedule overrun in percentage terms as of December 2003 was reported to be 40.23% while the figure for the same as on December 2004 was reported to be 39.9%.(K.C.Iyer and K.N.Jha 2006). Delay gives increase to disturbance of work and loss of productivity, late completion of the project increased time-related costs, and third-party claims and abandonment or termination of the contract.General management must keep track of progress to reduce the possibility of delay occurrence or identify it at early stages (Saleh Al Hadi Tumi 2009). Delays are insidious often resulting in time overrun, disputes, litigation, and complete abandonment of projects (Sambasivan and Soon,2007). Many projects are such a nature that the client will suffer hardship, expense, or loss of revenue if the work is delayed beyond the time specified in the contract (clough, 1986). Frank D.K.Fugar and Adwoa B.Agyakwah-Baah (2010)  studied the "Delays in Building construction projects in Ghana". The study sought the relative importance of the factors that cause delays in building construction projects in Ghana, from that study showed that all the three groups of respondents generally agreed that out of a total of 32 factors the top ten influencing factors in causing delay arranged in deseeding order of importance are:1)Delay in honoring certificates.2) Underestimation of the costs of projects.3) Underestimation of the complexity of the project.4)Difficulty in accessing bank credit.5) Poor supervision.6)underestimation of time for completion of projects by contractors.7)Shortage of materials 8) Poor professional management.9) Fluctuations of prices/rising cost of materials.10) Poor site management.] In this study, 32 factors were categorized into nine major groups and were ranked. The result shows that clients, consultants, and contractors all agreed that the financing group of delay factors was the most influential factor. Material factors were considered the second most important factor causing a delay in construction projects followed by scheduling and controlling factors and suggested some remedies for the delay.Ghada M Gad and Jennifer Shain  introduced a literature review on trust in the construction industry. While the tremendous focus in management research is placed on new construction technologies, the social and human factors through which these technologies are implemented are often neglected. An increasing trend in construction management research is seen in soft management aspects such as trust. This developed from the fact that construction projects involve individuals and their beliefs. Construction projects are based on collaboration among contracting parties to accomplish project goals. Thus, it is crucial to quickly build teams and establish good communications between team members. Trust has been determined by many studies as an excellent determinant to successful projects and crucial to building integrated project teams. This paper aims to present a literature review of research on trust in construction, identify knowledge gaps, and suggest recommendations for future research. More than 50 peer-reviewed publications were reviewed through which six main lines of research were identified. Research in trust in construction seems to primarily focus on four main areas; trust types, factors affecting trust development, trust effect on project success, and relational contracting, yet there still exists a knowledge gap in areas of non-relational agreements, North American construction markets, and project cost, risk, and contracts' relations.
Investments Make any Investments, except:
Objectives The Parties conclude this Agreement, among others, for purposes of:
Property, plant and equipment Property, plant and equipment are recorded at cost and are presented net of accumulated depreciation and accumulated impairment, except for land, which is not subject to depreciation. The cost includes the purchase price and all costs directly related to placing the asset at the location and in the conditions necessary for it to operate as intended by Management, in addition to the initial estimate of the costs of dismantling, removal or partial or total removal of the asset, as well as the rehabilitation of the place where it is located, which constitute an obligation for the Company. For construction works, the cost includes directly related personnel expenses and others of an operational nature attributable to the construction, as well as financial expenses related to external financing accrued during the construction year. The interest rate used to capitalize financial expenses is that corresponding to the specific financing or, as the case may be, the average financing rate of the Company. The costs of expansion, modernization or improvement that represent an increase in productivity, capacity or efficiency, and therefore an extension of the useful life of the assets, are capitalized as additional cost of the corresponding assets. Periodic maintenance, conservation and repair expenditures are recognized as an expense during the year in which they are incurred. An element of property, plant and equipment is derecognized at the time of its disposal or when future economic benefits of its use or disposal are not expected. Any gain or loss arising from the disposal of the asset (calculated as the difference between the net disposal value and the carrying value of the asset) is included in the Statement of Income in the fiscal year the asset is derecognized. 2.11 Property, plant and equipment (continued) Depreciation begins when the goods are available for use, that is, when they are in the location and under the conditions necessary to be able to operate in the manner intended by Management. Depreciation is calculated on a straight-line basis over the economic useful life of the assets, up to the amount of their residual value. The economic useful lives estimated by category are the following: