Receivables and Payables. The amount of the receivables and payables of each Loan Party, as of the Closing Date, is set forth in detail on Schedule 4.24, all of which are respectively collectible and payable in the ordinary course of business in accordance with the usual terms and conditions of such Loan Party’s businesses, except for uncollectible receivables arising in the ordinary course of business. No Loan Party has any knowledge of any fact or circumstance not already disclosed to Agent in writing which would be reasonably likely to impair the validity or collectibility of any Account.
Appears in 3 contracts
Samples: Loan and Security Agreement (Intercloud Systems, Inc.), Loan and Security Agreement (Genesis Group Holdings Inc), Loan and Security Agreement (Genesis Group Holdings Inc)
Receivables and Payables. The amount of the receivables and payables of each Loan Party, as of the Closing Date, is set forth in detail on Schedule 4.24, all of which are respectively collectible and payable in the ordinary course of business in accordance with the usual terms and conditions of such Loan Party’s businesses, except for uncollectible receivables arising in the ordinary course of business. No Loan Party has any knowledge of any fact or circumstance not already disclosed to Agent in writing which would be reasonably likely to impair the validity or collectibility collectability of any Account.
Appears in 1 contract
Samples: Loan and Security Agreement (Sebring Software, Inc.)
