Common use of Accounts Payable and Accounts Receivable Clause in Contracts

Accounts Payable and Accounts Receivable. All of the accounts payable of the Company reflected in the Balance Sheet were, and those reflected on the books of the Company on the Closing Date will have been, as of the Closing Date, incurred in the ordinary course of the Company's business. All Accounts Receivable of the Company reflected in the Balance Sheet have arisen, and those reflected on the books of the Company on the Closing Date will arise, from bona fide transactions in the ordinary course of business of the Company. The charges, accruals and reserves on the books of the Company in respect of the accounts payable and the Accounts Receivable were calculated in a manner consistent with past practice. The Company has not accelerated the collection of its Accounts Receivable, or slowed down the payment of accounts payable, in each case, outside the ordinary course of the Company's business.