Validity of Accounts. (a) The amount of each Account shown on the books, records, and invoices of the Borrower represented as owing by each Account Debtor is and will be the correct amount actually owing by such Account Debtor and shall have been fully earned by performance by the Borrower.
Validity of Accounts. (a) The amount of each Account shown on the books, records, and invoices of the Borrowers represented as owing by each Account Debtor is and will be the correct amount actually owing by such Account Debtor and shall have been fully earned by performance by the Borrowers.
Validity of Accounts. 88 7.5. Notification to Account Debtors....................................88 Article 8 - CASH MANAGEMENT. PAYMENT OF LIABILITIES:........................89
Validity of Accounts. Grantor warrants that all Collateral consisting of Accounts, Chattel Paper and Instruments included in Grantor’s schedules, financial statements or books and records are bona fide existing obligations created by the sale and actual delivery of Inventory or the rendition of services to customers in the ordinary course of business, which Grantor then owns free and clear of any security interest other than the security interest created by this Agreement or other Permitted Liens, and which are then unconditionally owing to Grantor without defenses, offset or counterclaim except those arising in the ordinary course of business that are immaterial in the aggregate and that the unpaid principal amount of any such Chattel Paper or Instrument and any security therefor is and will be as represented to Lender on the date of the delivery thereof to Lender.
Validity of Accounts. Each Account of Borrower and all documents pertaining thereto are genuine in all respects and reflect a correct statement of bona fide indebtedness incurred by the account debtor and the amount thereof is not subject to any offset, counterclaim or any contingency whatsoever, and Borrower and/or VVI is, or at the time an Account comes into existence will be, the true and lawful owner of, and has, or at the time an Account comes into existence will have, good and clear title to all its Accounts subject only to Lender's right in same. If any offset, counterclaim or any contingency whatsoever is claimed against any Account, Borrower and/or VVI will immediately notify Lender in writing of such claim and immediately pay to Lender the full amount owing on such Account.
Validity of Accounts. Each Account arises and will arise in the ordinary course of an Obligor’s business out of or in connection with the sale or lease of goods or the rendering of services and is and shall be a valid, legal and binding obligation of the party purported to be obligated thereon, enforceable in accordance with its terms and free of material setoffs, defenses or counterclaims. No Obligor has knowledge of any fact that would materially impair the validity or collectibility of any of the Accounts.
Validity of Accounts. Each Account constituting Collateral is and shall be a valid, legal and binding obligation of the party purported to be obligated thereon, enforceable in accordance with its terms and free of material setoffs, defenses or counterclaims.
Validity of Accounts. (a) The amount of each Account shown on the books, records, and invoices of the Borrowers represented as owing by each Account Debtor is and will be the correct amount actually owing by such Account Debtor and shall have been fully earned by performance by the Borrowers. (b) The Borrowers have no knowledge of any material impairment of the validity or collectibility of any of the Accounts and shall cause the Lead Borrower to notify the Agent of any such fact immediately after any Borrower becomes aware of any such impairment.
Validity of Accounts. 63 6.5. Notification to Account Debtors ............................................63 ARTICLE 7: - CASH MANAGEMENT. PAYMENT OF LIABILITIES: 7.1 Depository Accounts ........................................................63 7.2. Credit Card Receipts .......................................................64 7.3. The Concentration, Blocked, and Operating Accounts .........................64 7.4. Proceeds and Collection of Accounts ........................................65 7.5. Payment of Liabilities .....................................................65 7.6. The Operating Account ......................................................66 ARTICLE 8: - GRANT OF SECURITY INTEREST: 8.1. Grant of Security Interest .................................................67 8.2. Extent and Duration of Security Interest ...................................67
Validity of Accounts. Each Account constituting Collateral is and, to the best of the Borrower’s knowledge, shall be a valid, legal and binding obligation of the party purported to be obligated thereon, enforceable in accordance with its terms and free of material set-offs, defenses or counterclaims. The Borrower has no knowledge of any fact that would materially impair the validity or collectibility of any of the Accounts constituting Collateral.
