Collectability of Accounts Receivable. The Accounts Receivable are good and collectible at the aggregate recorded amounts, except to the extent of any reserves and allowances for doubtful accounts taken in accordance with GAAP and provided for such Accounts Receivable in the Books and Records or as set forth on Schedule 3.1(s), and are not subject to any defence, counterclaim or set off.
Collectability of Accounts Receivable. All accounts receivable included in the Company Financial Statements, net of any reserves for losses as reflected thereon, and net of costs, which costs shall not exceed $15,000 in the aggregate, are fully collectible in cash within three (3) months from the date hereof, with the exception of financed accounts receivable which by their terms are not payable in full within such three-month period ("Collectible Accounts Receivable"). All accounts receivable which cannot be fully collectable in cash within three (3) months from the date hereof with the exception of accounts receivable which by their term are not payable in full within such three month period are uncollectable accounts receivable ("Uncollectable Accounts Receivable"). Credits, returns and rebates shall not constitute payment of accounts receivable. (In determining whether there has been any nonpayment of any Account Receivable, all payments received from any account debtor shall, unless otherwise specified by such account debtor, be first applied to the oldest outstanding account Receivable of such account debtor until all accounts receivable of such account debtor have been paid in full.)
Collectability of Accounts Receivable. Taking into consideration the Caveat, all of the accounts receivable of the Company shown or reflected on the Base Balance Sheet or existing at the Closing Date (less the reserve for bad debts set forth on the Base Balance Sheet) are or will be at the Closing valid and enforceable claims. Except for any Matter from the Prior Period, the Company has no accounts or loans receivable from any person, firm or corporation which is affiliated with the Company or from any director, officer or employee of the Company, except as disclosed on Schedule 2.8, and all accounts and loans receivable from any of these persons, firms or corporations shall be paid in cash prior to the Closing.
Collectability of Accounts Receivable. All accounts receivable, book debts and other debts due or accruing to the Corporation are bona fide and to the best knowledge and belief of the Vendor and the Corporation, are good and collectible at the aggregate recorded amounts thereof (subject to no defence, counterclaim or set off) and, in respect of those having an age of not more than 120 days past due, having a value of at least Three Hundred Twenty Thousand Dollars ($320,000) as at the Closing Time.
Collectability of Accounts Receivable. The accounts receivable as shown on the Financial Statements and Interim Financial Statements of Cable Systems and Cable Systems USA are collectible to within the full amount less the reserve shown on the Financial Statements and Interim Financial Statements..
Collectability of Accounts Receivable. To the knowledge of the Corporation and the Shareholders, the Accounts Receivable are good and collectible at the aggregate recorded amounts within one hundred and eighty (180) days from the Closing Date, except to the extent of any reserves and allowances for doubtful accounts provided for such Accounts Receivable to be set out in the Financial Statements of the Corporation, and are not subject to any defence, counterclaim or set off.
Collectability of Accounts Receivable. (m) the accounts receivable shown in the Financial Statements or acquired after the date thereof by the Company have been recorded by the Company in accordance with its usual accounting practices;
Collectability of Accounts Receivable. All Accounts Receivable due or accruing to the Vendor in connection with the Purchased Business are bona fide and to the Knowledge of the Vendor, subject to allowance for doubtful accounts taken in accordance with ASPE, collectible at the aggregate recorded amounts thereof. No customer has indicated to the Vendor an unwillingness or inability to pay any amount included in the Accounts Receivable of the Vendor that has not been fully provided against in the Financial Statements or the Interim Financial Statements.
Collectability of Accounts Receivable. All Accounts Receivable reflected on the March Balance Sheet or since accrued arise from bona fide sales; and to the Knowledge of MagneTek, the related bad debt reserves and accruals reflected in the Financial Statements are adequate and were adequate as of the dates thereof in all material respects. Credits or returns (other than in the Ordinary Course which do not materially exceed the historical amounts for returns as a percentage of sales) and rebates shall not constitute payment of such Accounts Receivable. In determining whether there has been any nonpayment of any such Account Receivable, all payments received from any account debtor shall, unless otherwise specified by such account debtor, be first applied to the oldest outstanding Account Receivable of such account debtor until said Account Receivable of such account debtor has been paid in full.
Collectability of Accounts Receivable. All accounts receivable included in Company Financial Statements, net of any reserves for losses as reflected thereon, and net of costs, which costs shall not exceed $15,000 in the aggregate, are fully collectible in cash within three (3) months from the date hereof, with the exception of financed accounts receivable which by their terms are not payable in full within such three-month period (collectively the "Collectible Accounts Receivable"). Credits, returns and rebates shall not constitute payment of accounts receivable. (In determining whether there has been any nonpayment of any Account Receivable, all payments received from any account debtor shall, unless otherwise specified by such account debtor, be first applied to the oldest outstanding account Receivable of such account debtor until all accounts receivable of such account debtor have been paid in full.)
