Common use of Inventory and Accounts Receivable Clause in Contracts

Inventory and Accounts Receivable. The description of the Inventory contained in Schedule 4.5 is complete and accurate as of the Effective Time. Since December 31,1999 there have been no material changes to the Inventory, other than changes in the ordinary course of business. The description of the Accounts Receivable contained in Schedule 2.1(m) is complete and accurate as of the Effective Time. The Accounts Receivable constitute all of the Accounts Receivable of the Business related to the Purchased Assets. Such Accounts Receivable were generated in the ordinary course of the Business. There is not and will not be any liability of Seller for any refunds, allowances or returns in respect of products imported, marketed, sold, distributed or shipped by or for the account of Seller on or prior to the Closing Date.