Common use of Goods and Receivables Clause in Contracts

Goods and Receivables. (a) the Receivables that constitute Collateral, taken as a whole, (i) are the legal, valid and binding obligation of the Account Debtor in respect thereof, representing unsatisfied obligations of such Account Debtor, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, (ii) are enforceable in accordance with their terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, (iii) are not subject to any credits, rights of recoupment, setoffs, defenses, taxes, counterclaims (except with respect to refunds, returns and allowances in the ordinary course of business with respect to damaged merchandise) and (iv) are in compliance with all material applicable laws, whether federal, state, local or foreign in all material respects; and

Goods and Receivables. (a) the Receivables that constitute Collateral, taken as a whole, each Receivable (ia) are is and will be the legal, valid and binding obligation of the Account Debtor in respect thereof, representing an unsatisfied obligations obligation of such Account Debtor; (b) is and will be enforceable in accordance with its terms, in each case, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar lawslaws relating to, or limiting, creditors’ rights generally or by equitable principles relating to enforceability; (iic) are enforceable in accordance with their terms, except as may is not and will not be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, (iii) are not subject to any credits, rights of recoupment, setoffs, defenses, taxes, counterclaims (except with respect to refunds, returns and allowances in the ordinary course of business with respect to damaged merchandise) ); and (ivd) are is and will be in compliance with all material applicable laws, whether federal, state, local or foreign in all material respectsforeign; and

Goods and Receivables. (a) the The Receivables that constitute Collateral, taken as a whole, (i) are the legal, valid and binding obligation of the Account Debtor in respect thereof, representing unsatisfied obligations of such Account Debtor, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, (ii) are enforceable in accordance with their terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, (iii) are not subject to any credits, rights of recoupment, setoffs, defenses, taxes, counterclaims (except with respect to refunds, returns and allowances in the ordinary course of business with respect to damaged merchandise) and (iv) are in compliance with all material applicable laws, whether federal, state, provincial, local or foreign in all material respects; and