Common use of Accounts and Notes Receivable/Inventories Clause in Contracts

Accounts and Notes Receivable/Inventories. (a) The accounts receivable which are reflected on the Olas Balance Sheet are good and collectible in the ordinary course of business at the aggregate recorded amounts thereof, less the respective amount of the allowances for doubtful accounts and notes receivable, if any, reflected thereon, and are not subject to any offsets. The accounts and notes receivable of Olas and Subsidiary which were added after June 30, 1999, are good and collectible in the ordinary course of business, less the amount of the allowance(s) for doubtful accounts and notes receivable, if any, reflected on the books and records of Olas and/or Subsidiary (which allowances were established on a basis consistent with prior practice), as the case may be, and are not subject to any offsets. (b) The inventories reflected on the Olas Balance Sheet consist of items of a quality and quantity usable or saleable in the ordinary course of business, except for obsolete materials, slow-moving items, materials of below standard quality and not readily marketable items, all of which have been (i) written down to net realizable value or (ii) adequately reserved against on the books and records of Olas and/or Subsidiary, as the case may be. All inventories are stated at the lower of cost or market.

Accounts and Notes Receivable/Inventories. (a) The Schedule 2.10 hereto is a complete and accurate list of the accounts and notes receivable as of October 30, 1998, which are reflected on the Olas Balance Sheet are good and collectible in the ordinary course of business at the aggregate recorded amounts thereof, less the respective amount of the allowances for doubtful accounts and notes receivable, if any, reflected thereon, and are not subject to any offsetsoffsets other than in the ordinary course of business. The accounts and notes receivable of Olas and Subsidiary Talonsoft which were added after June October 30, 1999, 1998 are good and collectible in the ordinary course of business, less the respective amount of the allowance(s) allowances for doubtful accounts and notes receivable, if any, reflected on the books and records of Olas and/or Subsidiary thereon (which allowances were established on a basis consistent with prior practice), as the case may be, and are not subject to any offsets. (b) The inventories reflected on the Olas Balance Sheet consist of items of a quality and quantity usable or saleable in the ordinary course of business, except for obsolete materials, slow-moving items, materials of below standard quality and not readily marketable items, all of which have been (i) written down to net realizable value or (ii) adequately reserved against on the books and records of Olas and/or Subsidiary, as the case may beTalonsoft. All inventories are stated at the lower of cost or market.

Accounts and Notes Receivable/Inventories. (a) The accounts and notes receivable which are reflected on the Olas Balance Sheet are good and collectible in the ordinary course of business at the aggregate recorded amounts thereof, less the respective amount of the allowances for doubtful accounts and notes receivable, if any, reflected thereon, and are not subject to any offsetsoffsets other than in the ordinary course of business. The accounts and notes receivable of Olas and Subsidiary JAG which were added after June 30, 19991998, are good and collectible in the ordinary course of business, less the respective amount of the allowance(s) allowances for doubtful accounts and notes receivable, if any, reflected on the books and records of Olas and/or Subsidiary JAG (which allowances were established on a basis consistent with prior practice), as the case may be, and are not subject to any offsets. (b) The inventories reflected on the Olas Balance Sheet consist of items of a quality and quantity usable or saleable in the ordinary course of business, except for obsolete materials, slow-moving items, materials of below standard quality and not readily marketable items, all of which have been (i) written down to net realizable value or (ii) adequately reserved against on the books and records of Olas and/or Subsidiary, as the case may beJAG. All inventories are stated at the lower of cost or market.

Accounts and Notes Receivable/Inventories. (a) The accounts receivable which are reflected on the Olas eDiets Balance Sheet are good and collectible in the ordinary course of business at the aggregate recorded amounts thereof, less the respective amount of the allowances for doubtful accounts and notes receivable, if any, reflected thereon, and are not subject to any offsets. The accounts and notes receivable of Olas and Subsidiary eDiets which were added after June 30, 1999, are good and collectible in the ordinary course of business, less the amount of the allowance(s) for doubtful accounts and notes receivable, if any, reflected on the books and records of Olas and/or Subsidiary eDiets (which allowances were established on a basis consistent with prior practice), as the case may be, and are not subject to any offsets. (b) The inventories reflected on the Olas eDiets Balance Sheet consist of items of a quality and quantity usable or saleable in the ordinary course of business, except for obsolete materials, slow-moving items, materials of below standard quality and not readily marketable items, all of which have been (i) written down to net realizable value or (ii) adequately reserved against on the books and records of Olas and/or Subsidiary, as the case may beeDiets. All inventories are stated at the lower of cost or market.

Accounts and Notes Receivable/Inventories. (a) The accounts and notes receivable of TTIS which are reflected on the Olas Balance Sheet financial statements set forth in the SEC Reports are good and collectible in the ordinary course of business at the aggregate recorded amounts thereof, less the respective amount of the allowances for doubtful accounts and notes receivable, if any, reflected thereon, and are not subject to any offsetsoffsets other than in the ordinary course of business. The accounts and notes receivable of Olas and Subsidiary TTIS which were added after June April 30, 19991998, are good and collectible in the ordinary course of business, less the respective amount of the allowance(s) allowances for doubtful accounts and notes receivable, if any, reflected on the books and records of Olas and/or Subsidiary TTIS (which allowances were established on a basis consistent with prior practice), as the case may be, and are not subject to any offsets. (b) The inventories reflected on the Olas Balance Sheet latest balance sheet contained in the SEC Reports consist of items of a quality and quantity usable or saleable in the ordinary course of business, except for obsolete materials, slow-moving items, materials of below standard quality and not readily marketable items, all of which have been (i) written down to net realizable value or (ii) adequately reserved against on the books and records of Olas and/or Subsidiary, as the case may beTTIS. All inventories are stated at the lower of cost or market.