Common use of Accounts and Contract Rights Clause in Contracts

Accounts and Contract Rights. All accounts arise out of legally enforceable and existing contracts; and represent unconditional and undisputed bona fide indebtedness by the Debtor for sales or leases of Inventory shipped and delivered or services rendered by any Borrower to a Debtor, and are not and will not be subject to any discount (except such cash or trade discount as may be shown on any invoice, contract or other writing delivered to the Lender). No contract right, account, general intangible or chattel paper is or will be represented by any note or other instrument, and no contract right, account or general intangible is, or will be represented by any conditional or installment sales obligation or other chattel paper, except such instruments or chattel paper as have been or immediately upon receipt by a Borrower will be delivered to the Lender (duly endorsed or assigned), such delivery, in the case of chattel paper, to include all executed copies except those in the possession of the installment buyer and any security for or guaranty of any of the Collateral shall be delivered to the Lender immediately upon receipt thereof by a Borrower, with such assignments and endorsements thereof as the Lender may request.

Accounts and Contract Rights. All accounts arise out of legally enforceable and existing contracts; and represent unconditional and undisputed bona fide bonafide indebtedness by the Debtor for sales or leases of Inventory shipped and delivered or services rendered by any the Borrower to a Debtor, and are not and will not be subject to any discount (except such cash or trade discount as may be shown on any invoice, contract or other writing delivered to the Lender). No contract right, account, general intangible or chattel paper is is, or will be represented by any note or other instrument, and no contract right, account or general intangible is, or will be represented by any conditional or installment sales obligation or other chattel paper, except such instruments or chattel paper as have been or immediately upon receipt by a the Borrower will be delivered to the Lender (duly endorsed or assigned), such delivery, in the case of chattel paper, to include all executed copies except those in the possession of the installment buyer and any security for or guaranty of any of the Collateral shall be delivered to the Lender immediately upon receipt thereof by a the Borrower, with such assignments and endorsements thereof as the Lender may request.

Accounts and Contract Rights. All accounts of each Obligor's Accounts Receivable arise out of legally enforceable and existing contracts; and represent unconditional and undisputed bona fide indebtedness by the Debtor for sales or leases of Inventory shipped and delivered or services rendered by any Borrower an Obligor to a Debtor, and are not and will not be subject to any discount (except such cash or trade discount as may be shown on any invoice, contract or other writing delivered to in the Lenderordinary course of business). No contract right, account, general intangible or chattel paper is or will be represented by any note or other instrument, and no contract right, account or general intangible is, is or will be represented by any conditional or installment sales obligation or other chattel paper, except such instruments or chattel paper as have been or immediately upon receipt by a Borrower an Obligor will be delivered to the Lender Administrative Agent (duly endorsed or assigned), such delivery, in the case of chattel paper, to include all executed copies except those in the possession of the installment buyer and any security for or guaranty of any of the Collateral shall be delivered to the Lender Administrative Agent immediately upon receipt thereof by a Borroweran Obligor, with such assignments and endorsements thereof as the Lender Administrative Agent may request.