Common use of VALIDITY OF RECEIVABLES Clause in Contracts

VALIDITY OF RECEIVABLES. (a) each copy of each invoice is a true and genuine copy of the original invoice sent to the account debtor named therein and accurately evidences the transaction from which the underlying Receivable arose, and the date payment is due as stated on each Invoice or computed based on the information set forth on each such Invoice is correct; (b) all Chattel Paper, and all promissory notes, drafts, trade acceptances, and other instruments for the payment of money relating to or evidencing each Receivable, and each endorsement thereon, are true and genuine and in all respects what they purport to be, and are the valid and binding obligation of all parties thereto, and the date or dates stated on all such items as the date on which payment in whole or in part is due is correct; (c) all Inventory described in each Invoice has been delivered to the Account Debtor named in such Invoice or placed for such delivery in the possession of a carrier not owned or controlled directly or indirectly by Debtor; (d) all evidence of the delivery or shipment of Inventory is true and genuine; (e) all services to be performed by Debtor in connection with each Receivable have been performed by Debtor; and (f) all evidence of the performance of such services by Debtor is true and genuine.

VALIDITY OF RECEIVABLES. (a) Each Receivable is genuine and enforceable in accordance with its terms and represents an undisputed and bona fide indebtedness owing to Debtor by the Account Debtor obligated thereon; (b) there are no defenses, setoffs, or counterclaims against any Receivable; (c) no payment has been received on any Receivable and no Receivable is subject to any Credit or Extension or agreements therefor unless written notice specifying such payment, Credit, Extension, or agreement has been delivered to Secured Party; (d) each copy of each invoice Invoice is a true and genuine copy of the original invoice Invoice sent to the account debtor Account Debtor named therein and accurately evidences the transaction from which the underlying Receivable arose, ; and the date payment is due as stated on each such Invoice or computed based on the information set forth on each such Invoice is correct; (be) all Chattel Paper, Paper and all promissory notes, drafts, trade acceptances, and other instruments for the payment of money relating to or evidencing each Receivable, and each endorsement indorsement thereon, are true and genuine and in all respects what they purport to be, and are the valid and binding obligation of all parties thereto, ; and the date or dates stated on all such items as the date on which payment in whole or in part is due is correct; (cf) all Inventory described in each Invoice has been delivered to the Account Debtor named in such Invoice or placed for such delivery in the possession of a carrier not owned or controlled directly or indirectly by Debtor; (dg) all evidence of the delivery or shipment of Inventory is true and genuine; (eh) all services to be performed by Debtor in connection with each Receivable have has been performed by Debtor; and (fi) all evidence of the performance of such services by Debtor is true and genuine.

VALIDITY OF RECEIVABLES. With respect to each Receivable owned or to be owned by Continental Systems: (a) each copy of each invoice is a true and genuine copy of the original invoice sent to the account debtor named therein and accurately evidences the transaction from which the underlying Receivable arose, and the date payment is due as stated on each Invoice or computed based on the information set forth on each such Invoice is correct; (b) all Chattel Paper, and all promissory notes, drafts, trade acceptances, and other instruments for the payment of money relating to or evidencing each Receivable, and each endorsement thereon, are true and genuine and in all respects what they purport to be, and are the valid and binding obligation of all parties thereto, and the date or dates stated on all such items as the date on which payment in whole or in part is due is correct; (c) all Inventory described in each Invoice has been delivered to the Account Debtor named in such Invoice or placed for such delivery in the possession of a carrier not owned or controlled directly or indirectly by DebtorContinental Systems; (d) all evidence of the delivery or shipment of Inventory is true and genuine; (e) all services to be performed by Debtor Continental Systems and/or the Seller, as the case may be, in connection with each Receivable have been performed by DebtorContinental Systems and/or the Seller, as the case may be; and (f) all evidence of the performance of such services by Debtor Continental Systems and/or the Seller, as the case may be, is true and genuine.

VALIDITY OF RECEIVABLES. (a) Each Receivable is genuine and enforceable in accordance with its terms and represents an undisputed and bona fide indebtedness owing to Debtor by the Account Debtor; (b) there are no defenses, setoffs, or counterclaims against any Receivable; (c) no payment has been received on any Receivable and no Receivable is subject to any Credit or Extension or agreements therefor unless written notice specifying such payment, credit, extension, or agreement has been delivered to Secured Party; (d) each copy of each invoice Invoice is a true and genuine copy of the original invoice Invoice sent to the account debtor Account Debtor named therein and accurately evidences the transaction from which the underlying such Receivable arose, ; and the date payment is due as stated on each such Invoice or computed based on the information set forth on each such Invoice is correct; (be) all Chattel Paper, and all promissory notes, drafts, trade acceptances, and or other instruments for the payment of money relating to or evidencing each Receivablemoney, and each endorsement indorsement thereon, are true and genuine and in all respects what they purport to be, and are the valid and binding obligation of all parties thereto, ; and the date or dates stated on all such items as the date on which payment in whole or in part is due is correct; (cf) all Inventory described in each the Invoice has been delivered to the Account Debtor named in such Invoice or placed for such delivery in the possession of a carrier not owned or controlled directly or indirectly by Debtor; (dg) all evidence of the delivery or shipment of Inventory is true and genuine; (eh) all services to be performed by Debtor in connection with each Receivable have been performed by Debtor; and (fi) all evidence of the performance of such services by Debtor is true and genuine.

VALIDITY OF RECEIVABLES. (a) Each Receivable is genuine and enforceable in accordance with its terms and represents an undisputed and bona fide indebtedness owing to Debtor by the Account Debtor obligated thereon; (b) there are no defenses, setoffs, or counterclaims against any Receivable; (c) no payment has been received on any Receivable, and no Receivable is subject to any Credit or Extension or agreements therefor unless written notice specifying such payment, Credit, Extension, or agreement has been delivered to Secured Party; (d) each copy of each invoice Invoice is a true and genuine copy of the original invoice Invoice sent to the account debtor Account Debtor named therein and accurately evidences the transaction from which the underlying Receivable arose, and the date payment is due as stated on each such Invoice or computed based on the information set forth on each such Invoice is correct; (be) all Chattel Paper, and all promissory notes, drafts, trade acceptances, and other instruments for the payment of money relating to or evidencing each Receivable, and each endorsement thereon, are true and genuine and in all respects what they purport to be, and are the valid and binding obligation of all parties thereto, and the date or dates stated on all such items as the date on which payment in whole or in part is due is correct; (c) all Inventory described in each Invoice has been delivered to the Account Debtor named in such Invoice or placed for such delivery in the possession of a carrier not owned or controlled directly or indirectly by Debtor; (d) all evidence of the delivery or shipment of Inventory is true and genuine; (ef) all services to be performed by Debtor in connection with each Receivable have been performed by Debtor; and (fg) all evidence of the performance of such services by Debtor is true and genuine.