Common use of Acceptance by Customer Clause in Contracts

Acceptance by Customer. It is enforceable against the Customer and for the amount shown as owing in the statements furnished by Borrower to Bank. No return, rejection or repossession has occurred. It and the transaction out of which it arose comply with all applicable laws and regulations. The merchandise or services have been fully accepted by the Customer without dispute and are not subject to any setoff, credit allowance or adjustment, nor is it subject to any defenses or counterclaims. Any account otherwise includable in Qualified Accounts shall be reduced by any amount owing by Borrower to the Customer and only the reduced amount shall be included in Qualified Accounts.

Acceptance by Customer. It is enforceable against the Customer customer and for the amount shown as owing in the statements furnished by Borrower to Bank. No return, rejection or repossession has occurred. It and the transaction out of which it arose comply with all applicable laws and regulations. The merchandise or services have been fully accepted by the Customer customer without dispute and are not subject to any setoff, credit allowance or adjustment, nor is it subject to any defenses or counterclaims. Any account otherwise includable in Qualified Accounts shall be reduced by any amount claimed to be owing by Borrower to the Customer customer and only the reduced amount shall be included in Qualified Accounts.