Receivables and Inventory. All receivables and inventories of the Company, Fertifos and, to the Sellers’ Knowledge, Fosbrasil have been registered in the Financial Statements consistently with past practices applied by the Company, Fertifos and, to the Sellers’ Knowledge, Fosbrasil, and are valid and existent, collectable or subject to use, as applicable, through its regular course of business and consistent with past practices.
Receivables and Inventory. Each Grantor charges by way of first fixed charge, all of its right, title and interest from time to time in the Receivables and the Inventory, to the extent that they are not subject to a fixed charge under any other term or provision of this Debenture or assigned pursuant to any paragraph of Clause 3.7.
Receivables and Inventory. The Additional Grantor charges by way of first fixed charge, if and to the extent not effectively assigned by Clause 4.6 of this Deed, all of its right, title and interest from time to time in the Receivables and the Inventory, other than Receivables and Inventory in relation to Fixed Asset Collateral.
Receivables and Inventory. The Company shall not, and shall not permit any Subsidiary Guarantor to, Dispose of any receivables or inventory included in the Borrowing Base, except in the ordinary course of business.
Receivables and Inventory. With respect to all Receivables and ------------------------- Inventory proposed to be acquired in connection with such Acquisition, or which is owned by a Person that becomes an Acquired Subsidiary as a result of such Acquisition, Lender shall have received such information as Lender may request in order to calculate the amount determinable under clause (B) ---------- of the definition of "Acquisition Loan Amount."
Receivables and Inventory. The Borrower shall not, and shall not permit any Guarantor to, Dispose of any receivables or inventory included in the Borrowing Base, except in the ordinary course of business.
Receivables and Inventory. To the knowledge of Seller, all of the account receivables reflected as assets of the Combined Companies in the Business Financial Statements or acquired since that date (i) are legal, valid and binding obligations of the obligors, (ii) represent bona fide claims, (iii) are fully collectible in the Ordinary Course of Business (subject to reserves for bad debt reflected on the applicable Balance Sheet and determined in accordance with GAAP) and (iv) are subject to no defense, set off or counterclaim other than in the Ordinary Course of Business. Since the Balance Sheet Date, neither of the Combined Companies has (i) disposed of or transferred any account receivables except through the collection thereof in accordance with their terms or (ii) acquired or permitted to be created any account receivables, other than in the Ordinary Course of Business. Inventory used in the conduct of the operations of the Business reflected in the Business Financial Statements or acquired since the date thereof, was acquired and has been maintained in the Ordinary Course of Business, is not obsolete and is usable or saleable in the Ordinary Course of Business, subject to reserves for obsolescence as are set forth in the Business Financial Statements in accordance with GAAP.
Receivables and Inventory. (a) As security for all advances from Lender, and for all other obligations as more particularly described below in Paragraph 5, chargeable to Borrower's account, Borrower hereby grants Lender a first lien and security interest in: (1) all Receivables now or hereafter owned by Borrower; and (2) all Inventory now or hereafter owned by Borrower and wherever located.
Receivables and Inventory. Immediately prior to the closing of the Transactions, Debtor and its Subsidiaries, on a consolidated basis, shall have receivables and inventory with an aggregate value of at least $16,000,000, as calculated in accordance with GAAP. For purposes of determining compliance with the conditions specified in this Article V, each Lender that has signed this Agreement or funded Loans hereunder shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required hereunder to be consented to or approved by or acceptable or satisfactory to such Lender, unless Debtor shall have received written notice from such Lender prior to the proposed Closing Date specifying its objection thereto.
Receivables and Inventory. All of the Receivables reflected as assets of the Company in the Financial Statements or acquired since that date (i) are legal, valid and binding obligations of the obligors, (ii) represent bona fide claims and (iii) are subject to no defense, set off or counterclaim other than returns in the ordinary course of business. Since the Reference Balance Sheet Date, the Company has not (i) disposed of or transferred any Receivables except through the collection thereof in accordance with their terms or (ii) acquired or permitted to be created any Receivables except in the ordinary course of its business consistent with past practice and recorded in the Financial Statements in accordance with GAAP. All inventory used in the conduct of the operations of the Business reflected in the Financial Statements or acquired since the date thereof (considered as a whole and not on an item by item basis), was acquired and has been maintained in the ordinary course of business, is not obsolete and is useable or saleable in the ordinary course of business.
