Common use of STATUS OF LIABILITIES Clause in Contracts

STATUS OF LIABILITIES. Since December 1, 1998, and except as set forth on Schedule 3.7, TechStore has paid all normal and recurring installments (i) of bank and other long term debt, (ii) under leases and contractual obligations and (iii) any and all other amounts due and payable to any persons or entities. TechStore does not have any liabilities (whether absolute, accrued, contingent, unliquidated or otherwise) except (a) liabilities, obligations or contingencies which are accrues or reserved against in the balance sheet of TechStore as of December 31, 1998 ("TechStore Balance Sheet"), (b) normally recurring liabilities incurred after the date of the TechStore Balance Sheet in the ordinary course of business and consistent with past practice, and (c) liabilities incurred after the date of the TechStore Balance Sheet not incurred in the ordinary course of business which do not exceed $25,000.