Common use of Accounts Receivable; Bank Accounts Clause in Contracts

Accounts Receivable; Bank Accounts. All accounts ---------------------------------- receivable of the Company reflected on the Reference Balance Sheet are valid receivables subject to no setoffs or counterclaims and are current and, to the knowledge of the Company, collectible (within ninety (90) days after the date on which they first became due and payable), net of the applicable reserve for bad debts on the Reference Balance Sheet. All accounts receivable reflected in the financial or accounting records of the Company that have arisen since the date of Reference Balance Sheet are valid receivables subject to no setoffs or counterclaims and are current and, to the knowledge of the Company, collectible (within ninety (90) days after the date on which they first became due and payable), net of a reserve for bad debts in an amount proportionate to the reserve shown on the Reference Balance Sheet. Section 3.26 of the Company Disclosure Schedule describes each account maintained by or for the benefit of the Company at any bank or other financial institution.

Appears in 1 contract

Samples: Agreement and Plan of Merger and Reorganization (Netopia Inc)

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Accounts Receivable; Bank Accounts. All Except as disclosed in Section 3.26 of the Company Disclosure Schedule, all accounts ---------------------------------- receivable of the Company reflected on the Reference Balance Sheet are valid receivables subject to no setoffs or counterclaims and are current arising from bona fide transactions entered into in the ordinary course of business and, to the knowledge of the Company’s knowledge, are collectible (within ninety (90) days after the date on which they first became due when due, without setoff or counterclaim and payable), net of the applicable reserve for bad debts on the Reference Balance Sheet. All accounts receivable reflected in the financial or accounting records of the Company and the Subsidiaries that have arisen since the date of Reference Balance Sheet are valid receivables subject to no setoffs or counterclaims and are current and, to the knowledge of the Company’s knowledge, are current and collectible (within ninety (90) 90 days after the date on which they first became due and payable), net of a reserve for bad debts in an amount proportionate to the reserve shown on the Reference Balance Sheet. Section 3.26 of the Company Disclosure Schedule describes each account maintained by or for the benefit of the Company at any bank or other financial institution.

Appears in 1 contract

Samples: Agreement and Plan of Merger and Reorganization (Blue Coat Systems Inc)

Accounts Receivable; Bank Accounts. All accounts ---------------------------------- receivable of the Company and the Subsidiaries reflected on the Reference Balance Sheet are valid receivables subject to no setoffs or counterclaims and are current and, to the knowledge of the Company, and collectible (within ninety (90) 30 days after the date on which they it first became due and payable), net of the applicable reserve for bad debts on the Reference Balance Sheet. All accounts receivable reflected in the financial or accounting records of the Company and the Subsidiaries that have arisen since the date of Reference Balance Sheet are valid receivables subject to no setoffs or counterclaims and are current and, to the knowledge of the Company, collectible (within ninety (90) 30 days after the date on which they it first became due and payable), net of a reserve for bad debts in an amount proportionate to the reserve shown on the Reference Balance Sheet. Section 3.26 of the Company Disclosure Schedule describes each account maintained by or for the benefit of the Company or any Subsidiary at any bank or other financial institution.

Appears in 1 contract

Samples: Agreement and Plan of Merger and Reorganization (Sonicwall Inc)

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Accounts Receivable; Bank Accounts. All accounts ---------------------------------- receivable of the Company and the Subsidiaries reflected on the Reference Balance Sheet are valid receivables subject to no setoffs or counterclaims and are current arising from bona fide transactions entered into in the ordinary course of business and, to the knowledge of the Company’s knowledge, are collectible (within ninety (90) days after the date on which they first became due when due, without setoff or counterclaim and payable), net of the applicable reserve for bad debts on the Reference Balance Sheet. All accounts receivable reflected in the financial or accounting records of the Company and the Subsidiaries that have arisen since the date of Reference Balance Sheet are valid receivables subject to no setoffs or counterclaims and are current and, to the knowledge of the Company’s knowledge, are current and collectible (within ninety (90) 90 days after the date on which they first became due and payable), net of a reserve for bad debts in an amount proportionate to the reserve shown on the Reference Balance Sheet. Section 3.26 of the Company Disclosure Schedule describes each account maintained by or for the benefit of the Company or any Subsidiary at any bank or other financial institution.

Appears in 1 contract

Samples: Agreement and Plan of Merger and Reorganization (Blue Coat Systems Inc)

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