Accounts Receivable and Inventories. 3.26.1 All accounts and notes receivable of the Companies have arisen in the Ordinary Course of Business and the accounts receivable reserve reflected in the Company's consolidated balance sheet as of September 30, 1998 previously furnished to the Purchaser was established in accordance with GAAP.
Accounts Receivable and Inventories. (a) All accounts and notes receivable of Bergen have arisen in the ordinary course of business and the accounts receivable reserve reflected in the balance sheet of Bergen as of March 31, 1997 included in the Bergen SEC Documents is as of such date adequate and established in accordance with generally accepted accounting principles consistently applied.
Accounts Receivable and Inventories. (a) Except for billing corrections made in the Ordinary Course of Business, which have no impact on the calculation of Final Working Capital, the Accounts Receivable reflected in the Interim Balance Sheet, and all Accounts Receivable arising since the Interim Balance Sheet Date, represent or shall represent bona fide claims, arms-length transactions, against debtors for sales, services performed or other charges arising in the Ordinary Course of Business and are not subject to dispute, set-off or counterclaim. The Company shall use commercially reasonable efforts to collect all Accounts Receivable in full in the Ordinary Course of Business (without the necessity of legal Proceedings) within ninety (90) calendar days after invoicing therefor in accordance with their terms, and at the aggregate recorded amounts thereof. Except for any billing corrections made in the Ordinary Course of Business, which have no impact on the calculation of Final Working Capital, as referenced above, in the event the Company is unable to collect any Accounts Receivable within such ninety (90) day period, Purchaser shall be entitled to setoff such uncollected amounts from the then remaining value of the Note, provided, however, that if any of such funds are collected after such setoff then the collected funds shall be paid to the Sellers.
Accounts Receivable and Inventories. (a) Except to the extent reserved against in the Most Recent Balance Sheet, all of the accounts receivable of Target are valid and enforceable claims, Target has not received notice that such claims are subject to set-off or counterclaim, and such claims are, in the best judgment of Target, fully collectable in the normal course of business after deducting the allowance for doubtful accounts stated in the Most Recent Balance Sheet and adjusted since the date thereof in accordance with GAAP. Target does not have any accounts receivable from any person which is an Affiliate (“AFFILIATE”) as defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended, of any of its directors, officers, employees, or stockholders except as set forth in Section 3.10 of the Target Disclosure Schedule.
Accounts Receivable and Inventories. All accounts receivable of "the Companies" reflected on "the Companies" most current balance sheet are within a 90 day aging period, represent amounts due in the ordinary course of business, and are collectible.
Accounts Receivable and Inventories. (1) All of the accounts receivable included in the consolidated books and records of the Company at the Closing Date have arisen in the ordinary course of business, and are valid and collectible except to the extent of the allowance for doubtful accounts therein contained.
Accounts Receivable and Inventories. (a) Except to the extent reserved against in the Most Recent Balance Sheet, all of the accounts receivable of Target as of December 31, 2001 are, to the extent not previously collected, valid and enforceable claims. Target has not received notice that such claims are subject to set-off or counterclaim, and, to the extent not previously collected, such claims are fully collectable in the normal course of business after deducting the allowance for doubtful accounts stated in the Most Recent Balance Sheet and adjusted since the date thereof in accordance with GAAP. All of Target's accounts receivables which Target has acquired during the period between the date of the Most Recent Balance Sheet and the date of this Agreement are either collected in full or fully collectible in the normal course of business, subject to an appropriate reserve determined in a manner consistent with the past practices of Target. To Target's Knowledge, as of the date of this Agreement, Target does not have any accounts receivable from any person which is an Affiliate ("AFFILIATE") as defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended, of any of its directors, officers, employees, or stockholders except as set forth in Section 3.10 of the Target Disclosure Schedule.
Accounts Receivable and Inventories. The Accounts Receivable reflected in the Interim Balance Sheet, and all Accounts Receivable arising since the Interim Balance Sheet Date, represent or shall represent bona fide claims, arms-length transactions, against debtors for sales, services performed or other charges arising in the Ordinary Course of Business and are not subject to dispute, set-off or counterclaim. All Accounts Receivable shall be collected in full in the Ordinary Course of Business (without the necessity of legal Proceedings) within thirty (30) calendar days after invoicing therefor in accordance with their terms, and at the aggregate recorded amounts thereof, subject to the Company’s allowance for bad debts taken into account in the determination of the Final Net Working Capital.
Accounts Receivable and Inventories. (a) All of Seller’s accounts receivables as of the date of this Agreement (i) are as set forth in Section 3.10(a) of the Disclosure Memorandum, (ii) are valid and enforceable claims of Seller, (iii) are fully collectible in the normal course of business, and (iv) do not include any accounts receivable from any person which is an Affiliate (“Affiliate”) as defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended, of any of its directors, officers, employees, or stockholders. Seller has not received notice that such claims are subject to set-off or counterclaim.
Accounts Receivable and Inventories. (a) Except to the extent reserved against in the Most Recent Balance Sheet, all of the accounts receivable of Target and each of the Target Subsidiaries are valid and enforceable claims, neither Target nor any of the Target Subsidiaries has received notice that such claims are subject to set-off or counterclaim, and such claims are, in the best judgment of Target, fully collectable in the normal course of business (assuming the business is conducted consistent with past practice), after deducting the allowance for doubtful accounts stated in the Most Recent Balance Sheet and adjusted since the date thereof in accordance with GAAP. Neither Target nor any of the Target Subsidiaries has any accounts receivable from any person which is an Affiliate ("AFFILIATE") as defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended, of any of its directors, officers, employees, or stockholders except as set forth in Section 3.11 of the Target Disclosure Schedule.
