Common use of Receivables; Payables Clause in Contracts

Receivables; Payables. (a) All accounts receivable of Seller have arisen from bona fide transactions in the ordinary course of business consistent with past practice. All accounts receivable of Seller reflected on the Pro Forma Balance Sheet are good and believed to be collectible at the aggregate recorded amounts thereof and subject to no setoffs (including without limitation reductions in respect of customer advances or deposits) or counterclaims. All accounts receivable arising after the Balance Sheet Date are believed to be good and collectible at the aggregate recorded amounts thereof and subject to no setoffs (including without limitation reductions in respect of customer advances or deposits) or counterclaims. (b) All accounts payable of Seller reflected on the Pro Forma Balance Sheet or arising after the Balance Sheet Date are the result of bona fide transactions in the ordinary course of business and have been paid or are not yet due and payable, except for accounts payable that are being disputed in good faith in an appropriate manner.

Receivables; Payables. (a) All accounts receivable of Seller have arisen from bona fide transactions in the ordinary course of business consistent with past practice. All accounts receivable of Seller reflected on the Pro Forma Balance Sheet are good and believed to be collectible at the aggregate recorded amounts thereof and subject to no setoffs (including without limitation reductions in respect of customer advances or deposits) or counterclaims. All accounts receivable arising after the Balance Sheet Date are believed to be good and collectible at the aggregate recorded amounts thereof and subject to no setoffs (including without limitation reductions in respect of customer advances or deposits) or counterclaims. (b) All accounts payable of Seller reflected on the Pro Forma Balance Sheet or arising after the Balance Sheet Date are the result of bona fide transactions in the ordinary course of business and have been paid or are not yet due and payable, except for accounts payable that are being disputed in good faith in an appropriate manner.

Receivables; Payables. (a) All accounts receivable and unbilled receivables of Seller have arisen from bona fide transactions in the ordinary course of business consistent with past practice. All accounts receivable and unbilled receivables of Seller reflected on the Pro Forma Balance Sheet are good and believed to be collectible at the aggregate recorded amounts thereof and thereof, subject to no setoffs (including without limitation reductions in respect of customer advances or deposits) or counterclaims. All accounts receivable and unbilled receivables of Seller arising after the Balance Sheet Date are believed to be good and collectible at the aggregate recorded amounts thereof and subject to no setoffs (including without limitation reductions in respect of customer advances or deposits) or counterclaims. (b) All accounts payable of Seller reflected on the Pro Forma Balance Sheet or arising after the Balance Sheet Date are the result of bona fide transactions in the ordinary course of business and have been paid or are not yet due and payable, except for accounts payable that are being disputed in good faith in an appropriate manner.