Bona fide. Each and every Receivable shall (i) be bona fide, be for a certain undisputed claim or demand for the amount Borrower represented to be owing thereon, (ii) represent a sale and delivery of personal property sold or work and labor done, (iii) not be subject to any set-off, counterclaim, or contingent liability upon the fulfillment of any contract or condition whatsoever, and (iv) shall not be subject to any prohibition or limitation upon assignment except as required by the Assignment of Claims Act.
Appears in 5 contracts
Samples: Loan and Security Agreement (Halifax Corp), Loan and Security Agreement (Halifax Corp), Loan and Security Agreement (Halifax Corp)
