Common use of Nature of Accounts Clause in Contracts

Nature of Accounts. Each of the Accounts shall be a bona fide and valid account representing a bona fide indebtedness incurred by the customer therein named, for a fixed sum as set forth in the invoice relating thereto (provided immaterial or unintentional invoice errors shall not be deemed to be a breach hereof) with respect to an absolute sale or lease and delivery of goods upon stated terms of the applicable Loan Party, or work, labor or services theretofore rendered by the applicable Loan Party as of the date each Account is created. Same shall be due and owing in accordance with the applicable Loan Party’s standard terms of sale without dispute, setoff or counterclaim except as may be stated on the accounts receivable Schedules delivered by the Loan Parties to Administrative Agent (including discounts or allowances granted in the Ordinary Course of Business).

Nature of Accounts. Each of the Accounts shall be a bona fide and valid account representing a bona fide indebtedness incurred by the customer an Account Debtor therein named, for a fixed sum as set forth in the invoice relating thereto (provided immaterial or unintentional invoice errors shall not be deemed to be a breach hereof) with respect to an absolute sale or lease and delivery of goods upon stated terms of the applicable a Loan Party, or work, labor or services theretofore rendered by the applicable a Loan Party as of the date each Account is created. Same Each Account shall be due and owing in accordance with the applicable Loan Party’s standard terms of sale without dispute, setoff or counterclaim except as may be stated on the accounts receivable Schedules Schedule of Accounts delivered by the Loan Parties Borrower to the Administrative Agent (including discounts or allowances granted in the Ordinary Course of Business)Agent.

Nature of Accounts. Each of the Accounts shall be a bona fide and valid account representing a bona fide indebtedness incurred by the customer therein named, for a fixed sum as set forth in the invoice relating thereto (provided immaterial or unintentional invoice errors shall not be deemed to be a breach hereof) with respect to an absolute sale or lease and delivery of goods upon stated terms of the applicable Loan Party, or work, labor or services theretofore rendered by the applicable Loan Party as of the date each Account is created. Same shall be due and owing in accordance with the applicable Loan Party’s 's standard terms of sale without dispute, setoff or counterclaim except as may be stated on the accounts receivable Schedules delivered by the Loan Parties to Administrative Agent (including discounts or allowances granted in the Ordinary Course of Business).

Nature of Accounts. Each of the Accounts shall be a bona fide and valid account representing a bona fide indebtedness incurred by the customer Customer therein named, for a fixed sum as set forth in the invoice relating thereto (provided immaterial or unintentional invoice errors shall not be deemed to be a breach hereof) with respect to an absolute sale or lease and delivery of goods upon stated terms of the applicable a Loan Party, or work, labor or services theretofore rendered by the applicable a Loan Party as of the date each Account is created. Same shall be due and owing in accordance with the applicable Loan Party’s 's standard terms of sale without dispute, setoff or counterclaim except as may be stated on the accounts receivable Schedules schedules delivered by the Loan Parties to Administrative Agent (including discounts or allowances granted in the Ordinary Course of Business)Agent.