Common use of Accounts Receivable; Inventories Clause in Contracts

Accounts Receivable; Inventories. The accounts and notes receivable which are reflected on the Balance Sheet are good and collectible in the ordinary course of business at the aggregate recorded amounts thereof, less the respective amount of the allowances for doubtful accounts and notes receivable, if any, reflected thereon, and are not subject to offsets other than in the ordinary course of business. The accounts and notes receivable of Inventory which were added after May 31, 1997, are good and collectible in the ordinary course of business, less the amount of the allowance(s) for doubtful accounts and notes receivable, if any, reflected thereon (which allowances were established on a basis consistent with prior practice), and are not subject to offsets other than in the ordinary course of business. The inventories reflected on the Balance Sheet and thereafter added consist of items of a quality and quantity usable or saleable in the ordinary course of business, except for obsolete materials, slow-moving items, materials of below standard quality and not readily marketable items, all of which have been written down to net realizable value or adequately reserved against on the books and records of Inventory. All inventories are stated at the lower of cost or market in accordance with generally accepted accounting principles.

Accounts Receivable; Inventories. The accounts and notes receivable which are reflected on the Balance Sheet are good and collectible Unaudited Interim Financial Statements have arisen in the ordinary course of business at the aggregate recorded amounts thereof, less the respective amount of the allowances for doubtful accounts and notes receivable, if any, reflected thereonthereon (which allowance was established on a basis by Salex or the Salex Subsidiaries consistent with prior practices), and are not subject to offsets other than in the ordinary course of business. The accounts and notes receivable of Inventory Salex and the Salex Subsidiaries which were added after May 31the date of the Unaudited Interim Balance Sheet, 1997, are good and collectible have arisen in the ordinary course of business, less the amount of the allowance(s) for doubtful accounts and notes receivable, if any, reflected thereon (which allowances were established on a basis consistent with prior practice), business and are not subject to offsets other than in the ordinary course of business. The inventories reflected on the Unaudited Interim Balance Sheet and thereafter added consist of items of a quality and quantity usable or saleable in the ordinary course of business, except for obsolete materials, slow-moving items, materials of below standard quality and not readily marketable items, all of which have been written down to net realizable value or adequately reserved against on the books and records of Inventory. All inventories are stated at Salex and the lower of cost or market in accordance Salex Subsidiaries consistent with generally accepted accounting principlespast practices.

Accounts Receivable; Inventories. The accounts and notes receivable which are reflected on the Balance Sheet Financial Statements are good and collectible in the ordinary course of business at the aggregate recorded amounts thereof, less the respective amount of the allowances for doubtful accounts and notes receivable, if any, reflected thereon, and are not subject to offsets other than in the ordinary course of business. The accounts and notes receivable of Inventory Triad and Global which were added after May March 31, 19971999, are good and collectible in the ordinary course of business, less the amount of the allowance(s) for doubtful accounts and notes receivable, if any, reflected thereon (which allowances were established on a basis consistent with prior practice), and are not subject to offsets other than in the ordinary course of business. The inventories reflected on the Balance Sheet Financial Statements and thereafter added consist of items of a quality and quantity usable or saleable in the ordinary course of business, except for obsolete materials, slow-moving items, materials of below standard quality and not readily marketable items, all of which DO NOT EXCEED US$50,000 OR have been written down to net realizable value or adequately reserved against on the books and records of InventoryTriad and Global. All inventories are stated at the lower of cost or market in accordance with generally accepted accounting principles.

Accounts Receivable; Inventories. The accounts and notes receivable which are reflected on the Balance Sheet are good and collectible in the ordinary course of business at the aggregate recorded amounts thereof, less the respective amount of the allowances for doubtful accounts and notes receivable, if any, reflected thereon, and are not subject to offsets other than in the ordinary course of business. The accounts and notes receivable of Inventory Creative which were added after May 31, 1997, are good and collectible in the ordinary course of business, less the amount of the allowance(s) for doubtful accounts and notes receivable, if any, reflected thereon (which allowances were established on a basis consistent with prior practice), and are not subject to offsets other than in the ordinary course of business. The inventories reflected on the Balance Sheet and thereafter added consist of items of a quality and quantity usable or saleable in the ordinary course of business, except for obsolete materials, slow-moving items, materials of below standard quality and not readily marketable items, all of which have been written down to net realizable value or adequately reserved against on the books and records of InventoryCreative. All inventories are stated at the lower of cost or market in accordance with generally accepted accounting principles.