Accounts Receivable; Loans. All accounts receivables and notes of Company whether reflected on Schedule 3.16 or otherwise, represent valid obligations arising from lease agreements or services actually performed by Company in the ordinary course of business. Except as set forth on Schedule 3.16, there is no contest, claim, or right of setoff in any lease agreement with tenants or in other agreements with any maker of an account receivable or note relating to the amount or validity of such account, receivables or note. All accounts, receivables or notes are good and collectible in the ordinary course of business. The information set forth on Schedule 3.16 separately identifies any and all accounts, receivables or notes of Company which are owed by any Affiliate of Company or Sellers.
Appears in 8 contracts
Samples: Stock Purchase Agreement (Prime Acquisition Corp), Stock Purchase Agreement (Prime Acquisition Corp), Stock Purchase Agreement (Prime Acquisition Corp)
