Inventories and Accounts Receivable. 4.6.1 The inventories of supplies, raw materials, work in process and finished goods owned or used by the Company as of the date hereof and as reflected in the balance sheet of the Company included in the Financial Statements were owned or held by the Company at the date specified in the Financial Statements, and all such inventories so held on such dates and on the date hereof were and are normal and adequate for the Business, are of good and marketable quality and condition.
4.6.2 The accounts receivable of the Company reflected in the balance sheets of the Company included in the Financial Statements are bona fide, have been properly recorded and represent amounts due for goods or services duly sold or rendered in the ordinary course of business, and no claim has been made or threatened with respect to the quality or warranty of such goods and services which has not been disposed of, and the said accounts receivable are good and collectible, free from any claim or right of set off or counterclaim, except to the extent of any reserves for bad debts reflected in said balance sheet, and all accounts receivable which have accrued to the Company up to the date hereof subsequent to the date of the Financial Statements comply with the foregoing in all respects except to the extent of reserves for bad debts maintained at the same respective rates as reflected in the said balance sheet.
Inventories and Accounts Receivable. As of the date hereof, Target has no inventories or accounts receivable.
Inventories and Accounts Receivable. In the event that the aggregate amount of Inventories and Accounts Receivable set forth on the Closing Balance Sheet equals or exceeds the Transferor's aggregate amount of Inventories as of March 28, 2001 and Accounts Receivable as of April 12, 2001 and set forth on Schedules 4.17 and 4.18 (in each case using the same components, accounting practices and methodology, consistently applied), then the Cash Escrow, net of any amounts payable to Acquiror pursuant to Section 2.5(a)(i)(B) below,
Inventories and Accounts Receivable. (a) The inventories of raw materials, work in process, finished goods, spares and supplies of the CeCorr Companies reflected on the Financial Statements are reflected thereon at the lower of cost or market value in accordance with GAAP and are in all material respects of good and marketable quality and in sufficient quantity for the conduct of the Business as presently conducted, and the reserves for obsolete or surplus inventories reflected on the Financial Statements are adequate in accordance with GAAP.
(b) The accounts receivable of the CeCorr Companies reflected on the Financial Statements are reflected thereon in accordance with GAAP and are and will be bona fide, have been and will be properly recorded in the ordinary course of the Business and represent amounts due for goods or services sold or rendered in the ordinary course of the Business, and are collectible in the ordinary course of the Business. The reserves for doubtful accounts reflected on the Financial Statements are adequate in accordance with GAAP. Except as disclosed on Schedule 3.16, Sellers have no knowledge of any disputes, set off rights or defenses to collection of any of the accounts receivable.
Inventories and Accounts Receivable. Schedule 3.1(w) sets forth a list of the inventory and accounts, notes and other receivables of the Corporation as at August 31, 2000.
Inventories and Accounts Receivable. The inventories of Target, whether finished goods, work in progress or raw materials, shown on Target's balance sheet dated December 31, 1995 or thereafter, are all items of a quality usable or salable in the ordinary and usual course of Target's business, except for inventory items that have been written down to an amount not in excess of realizable market value or for which adequate reserves or allowances have been provided. The values at which inventories are carried reflect an inventory valuation policy of Target which is consistent with Target's past practice and which is in accordance with generally accepted accounting principles applied on a consistent basis. The accounts receivable of Target shown on Target's balance sheet dated December 31, 1995 or thereafter arose from valid and enforceable transactions. To Target's knowledge, the reserve for doubtful accounts and product returns is adequate, and the values at which accounts receivable are carried reflect the policies of Target consistent with Target's past practice and are in accordance with generally accepted accounting principles applied on a consistent basis.
Inventories and Accounts Receivable. 27 4.11 Absence of Material Changes . . . . . . . . . . . . . . . . . . . . . . . . 28 4.12 Contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 3 -2-
Inventories and Accounts Receivable. 4.10.1 The inventories of raw materials, work in process, finished goods and supplies of the Corporation reflected in the Interim Balance Sheet or subsequently acquired and properly included in the Adjustment Balance Sheet are reflected therein at the lower of cost or market value in accordance with U.S. GAAP and are in all material respects, of good and marketable quality and in sufficient quantity for the conduct of the Business as presently conducted, and the reserves for obsolete or surplus inventories reflected on the Interim Balance Sheet and Adjustment Balance Sheet are and shall be adequate as at the respective dates thereof in accordance with U.S. GAAP consistently applied.
4.10.2 The accounts receivable of the Corporation reflected in the Interim Balance Sheet are, and the accounts receivable that will be reflected on the Adjustment Balance Sheet will be, reflected therein in accordance with U.S. GAAP and are and will be bona fide, have been and will be properly recorded in the ordinary course of the Business and represent amounts due for goods or services sold or rendered in the ordinary course of the Business. The reserves for doubtful accounts reflected on the Interim Balance Sheet and Adjustment Balance Sheet are and shall be adequate as at the respective dates thereof in accordance with U.S. GAAP consistently applied. 33
Inventories and Accounts Receivable. Operating and the Partnership shall pay for the Propane Inventories and Hardware Inventory within thirty (30) days following the Closing, and the Accounts Receivable shall be paid within three (3) business days of the receipt of and the agreement to the Accounts Receivable listing.
Inventories and Accounts Receivable. The inventories of SSI, whether finished goods, work in process or raw materials, shown on the SSI Financial Statements, are all items of a quality usable or salable in the ordinary and usual course of SSI's business, except for inventory items that have been written down to an amount not in excess of realizable market value or for which adequate reserves or allowances have been provided. The values at which inventories are carried reflect an inventory valuation policy of SSI which is consistent with SSI's past practice and which is in accordance with GAAP applied on a consistent basis. The accounts receivable of SSI shown on the SSI Financial Statements arose from valid transactions. To SSI's knowledge, the reserve for doubtful accounts and product returns is adequate, and the values at which accounts receivable are carried reflect the policies of SSI consistent with SSI's past practice and are in accordance with GAAP applied on a consistent basis.
