Bona Fide Accounts. All Accounts represent bona fide sales or leases of goods and/or services for which Borrower has an unconditional right to payment. None of the Accounts are subject to any rights of offset, counterclaim, cancellation or contractual rights of return.
Appears in 5 contracts
Samples: Loan and Security Agreement (Windswept Environmental Group Inc), Loan and Security Agreement (K Tronik International Corp), Loan and Security Agreement (K Tronik International Corp)
Bona Fide Accounts. All Accounts represent bona fide sales or leases of goods and/or services for which Borrower has an unconditional right to paymentpayment and as to which the goods have been delivered to the customer and/or the services rendered, as applicable. None of the Accounts are subject to any rights of offset, counterclaim, cancellation or contractual rights of return.
Appears in 2 contracts
Samples: Loan and Security Agreement (Reeds Inc), Loan and Security Agreement (Teamstaff Inc)
Bona Fide Accounts. All Accounts represent bona fide sales or leases of goods and/or services for which such Borrower has an unconditional right to paymentpayment and as to which the goods have been delivered to the customer or Account debtor and/or the services have been rendered, as applicable. None of the Accounts are is subject to any rights right of offset, counterclaim, cancellation or contractual rights right of return. All Accounts reported to Lender as Eligible Accounts or Eligible Unbilled Accounts conform to the requirements of Eligible Accounts or Eligible Unbilled Accounts, as the case may be.
Appears in 1 contract
Bona Fide Accounts. All Accounts represent bona fide sales or leases of goods and/or services for which Borrower has an unconditional right to payment. None of the Accounts accounts are subject to any rights of offset, counterclaim, cancellation or contractual rights of return.
Appears in 1 contract
Bona Fide Accounts. All Accounts represent bona fide sales or leases of goods and/or services for which Borrower has an unconditional right to paymentpayment and as to which the goods have been delivered to the customer or Account debtor and/or the services have been rendered, as applicable. None of the Accounts are is subject to any rights right of offset, counterclaim, cancellation or contractual rights right of return. All Accounts reported to Lender as Eligible Accounts conform to the requirements of Eligible Accounts.
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