Common use of Regarding the Accounts and Inventory Clause in Contracts

Regarding the Accounts and Inventory. (a) Each of the Accounts is based on an actual bona fide, and genuine (i) sale and delivery of goods or (ii) rendering or performance of services in the ordinary course of business, the Account Debtors have accepted such goods or services and unconditionally owe and are obligated to pay the full amounts reflected in the invoices according to the terms thereof without any defense, offset or counterclaim; (b) all of the shipping and delivery receipts and other documents to be given to the Bank with respect to the Accounts are genuine; (c) to the best of the Borrower's knowledge, pursuant to its customary credit investigation in the ordinary course of business as of the date each account is created, each of the Account Debtors is solvent and able to pay such account when due, or with respect to any Account Debtors who are not solvent, the Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such accounts; (d) each of the accounts referenced on the Borrower's most recent Borrowing Base Certificate against which the Borrower has requested an advance under the Revolving Loan is an Eligible Account; and (e) all of the inventory referenced on the Borrower's most recent Borrowing Base Certificate against which the Borrower has requested an advance under the Revolving Loan is Eligible Inventory.

Regarding the Accounts and Inventory. (a) Each of the Accounts accounts is based on an actual bona fide, and genuine (i) sale and delivery of goods or (ii) rendering or performance of services in the ordinary course of business, the Account Debtors have accepted such goods or services and unconditionally owe and are obligated to pay the full amounts reflected in the invoices according to the terms thereof without any defense, offset or counterclaim; (b) all of the shipping and delivery receipts and other documents to be given to the Bank with respect to the Accounts accounts are genuine; (c) to the best of the Borrower's knowledge, pursuant to its customary credit investigation in the ordinary course of business as of the date each account is created, each of the Account Debtors is solvent and able to pay such account when due, or with respect to any Account Debtors who are not solvent, the Borrower has set up on its it books and in its financial records bad debt reserves adequate to cover such accounts; (d) each of the accounts referenced on the Borrower's most recent Borrowing Base Certificate or other certificate against which the Borrower has requested an advance under the Revolving Loan is an Eligible Account; and (e) all of the inventory referenced on the Borrower's most recent Borrowing Base Certificate certificate or other certificate against which the Borrower has requested an advance under the Revolving Loan is Eligible Inventory.

Regarding the Accounts and Inventory. (a) Each of the Accounts accounts is based on an actual bona fide, and genuine (i) sale and delivery of goods or (ii) rendering or performance of services in the ordinary course of business, the Account Debtors have accepted such goods or services and unconditionally owe and are obligated to pay the full amounts reflected in the invoices according to the terms thereof without any defense, offset or counterclaim; (b) all of the shipping and delivery receipts and other documents to be given to the Bank with respect to the Accounts accounts are genuine; (c) to the best of the Borrower's knowledge, pursuant to its customary credit investigation in the ordinary course of business as of the date each account is created, each of the Account Debtors Parties is solvent and able to pay such account when due, or with respect to any Account Debtors Parties who are not solvent, the Borrower has set up on its it books and in its financial records bad debt reserves adequate to cover such accounts; (d) each of the accounts referenced on the Borrower's most recent Loan and Collateral Report or other Borrowing Base Certificate certificate against which the Borrower has requested an advance under the Revolving Loan is an Eligible Account; and (e) all of the inventory referenced on the Borrower's most recent Loan and Collateral Report or other Borrowing Base Certificate certificate against which the Borrower has requested an advance under the Revolving Loan is Eligible Inventory.

Regarding the Accounts and Inventory. (a) Each of the Accounts accounts is based on an actual bona fide, and genuine (i) sale and delivery of goods or (ii) rendering or performance of services in the ordinary course of business, the Account Debtors have accepted such goods or services and unconditionally owe and are obligated to pay the full amounts reflected in the invoices according to the terms thereof without any defense, offset or counterclaim; (b) all of the shipping and delivery receipts and other documents to be given to the Bank with respect to the Accounts accounts are genuine; (c) to the best of the Borrower's knowledge, pursuant to its customary credit investigation in the ordinary course of business as of the date each account is created, each of the Account Debtors is solvent and able to pay such account when due, or with respect to any Account Debtors who are not solvent, the Borrower has set up on its it books and in its financial records bad debt reserves adequate to cover such accounts; (d) each of the accounts referenced on the Borrower's most recent loan and collateral report or other Borrowing Base Certificate certificate against which the Borrower has requested an advance under the Revolving Loan is an Eligible Account; and (e) all of the inventory referenced on the Borrower's most recent loan and collateral report or other Borrowing Base Certificate certificate against which the Borrower has requested an advance under the Revolving Loan is Eligible Inventory.