Receivables and Payables. (a) Except as set forth on the Company Disclosure Schedule, all accounts receivable of the Company represent sales in the ordinary course of business and, to the Company's knowledge, are current and collectible net of any reserves shown on the Balance Sheet and none of such receivables is subject to any Lien other than a Permitted Lien. (b) Except as set forth on the Company Disclosure Schedule, all payables by the Company arose in bona fide transactions in the ordinary course of business and no such payable is delinquent by more than sixty (60) days beyond the due date in its payment.
Appears in 6 contracts
Samples: Merger Agreement (Cardiff International Inc), Merger Agreement (Seven Ventures Inc), Merger Agreement (Birch Financial Inc)
Receivables and Payables. (a) Except as set forth on the Company Disclosure Schedule, all accounts receivable of the Company represent sales in the ordinary course of business and, to the Company's ’s knowledge, are current and collectible net of any reserves shown on the Balance Sheet in Company Financial Statements and none of such receivables is subject to any Lien other than a Permitted Lien.
(b) Except as set forth on the Company Disclosure Schedule, all payables by the of Company arose in bona fide transactions in the ordinary course of business and no such payable is delinquent by more than sixty (60) days beyond the due date in its payment.
Appears in 3 contracts
Samples: Merger Agreement (Dala Petroleum Corp.), Merger Agreement (Dala Petroleum Corp.), Merger Agreement (Mondial Ventures, Inc.)
Receivables and Payables. (a) Except as set forth on the Company Disclosure Schedule, all accounts receivable of the Company represent sales in the ordinary course of business and, to the Company's ’s knowledge, are current and collectible net of any reserves shown on the Balance Sheet and none of such receivables is subject to any Lien other than a Permitted Lien.
(b) Except as set forth on the Company Disclosure Schedule, all payables by the Company arose in bona fide transactions in the ordinary course of business and no such payable is delinquent by more than sixty (60) days beyond the due date in its payment.
Appears in 2 contracts
Samples: Merger Agreement (Kentex Petroleum Inc), Merger Agreement (Northern Oil & Gas, Inc.)
Receivables and Payables. (a) Except as set forth on the Company Disclosure Schedule, all accounts receivable of the Company represent sales in the ordinary course of business and, to the Company's knowledge, are current and collectible net of any reserves shown on the Balance Sheet and none of such receivables is subject to any Lien other than a Permitted Lien.
(b) Except as set forth on the Company Disclosure Schedule, all payables by the Company arose in bona fide transactions in the ordinary course of business and no such payable is delinquent by more than sixty (60) days beyond the due date in its payment.
Appears in 2 contracts
Samples: Merger Agreement (Autoline Group Inc), Merger Agreement (Syntony Group Inc)
Receivables and Payables. (a) Except as set forth on the Company Disclosure Schedule, all accounts receivable of the Company represent sales in the ordinary course of business and, to the Company's ’s knowledge, are current and collectible net of any reserves shown on in the Balance Sheet Financial Statements and none of such receivables is subject to any Lien other than a Permitted Lien.
(b) Except as set forth on the Company Disclosure Schedule, all payables by the Company arose in bona fide transactions in the ordinary course of business and no such payable is delinquent by more than sixty (60) days beyond the due date in its payment.
Appears in 1 contract
Samples: Merger Agreement (Network Dealer Services Holding Corp.)
Receivables and Payables. (a) Except as set forth on the Company Disclosure Schedule, all accounts receivable of the Company represent sales in the ordinary course of business and, to the Company's knowledge, are current and collectible net of any reserves shown on the Most Recent Balance Sheet and none of such receivables is subject to any Lien other than a Permitted Lien.
(b) Except as set forth on the Company Disclosure Schedule, all payables by the Company arose in bona fide transactions in the ordinary course of business and no such payable is delinquent by more than sixty (60) days beyond the due date in its payment.
Appears in 1 contract
Samples: Merger Agreement (Entreport Corp)
Receivables and Payables. (a) Except as set forth on the Company Disclosure Schedule, all accounts receivable of the Company represent sales in the ordinary course of business and, to the Company's ’s knowledge, are current and collectible net of any reserves shown on the Company Balance Sheet and none of such receivables is subject to any Lien Encumbrance other than a Permitted Lien.
(b) Except as set forth on the Company Disclosure Schedule, all payables by the Company arose in bona fide transactions in the ordinary course of business and no such payable is delinquent by more than sixty (60) days beyond the due date in its payment.
Appears in 1 contract
Samples: Merger Agreement (IMMS, Inc.)
Receivables and Payables. (a) Except as set forth on the Company Disclosure Schedule, all accounts receivable of the Company represent sales in the ordinary course of business and, to the Company's knowledge, are current and collectible net of any reserves shown on the Balance Sheet and none of such receivables is subject to any Lien other than a Permitted Lien.
(b) Except as set forth on the Company Disclosure Schedule, all payables by the Company arose in bona fide transactions in the ordinary course of business and no such payable is delinquent by more than sixty (60) days beyond the due date in its payment.
Appears in 1 contract
