Bona Fide Accounts Sample Clauses
The Bona Fide Accounts clause defines the requirement that all accounts referenced or used under the agreement must be genuine, valid, and established in good faith. In practice, this means that any financial accounts, such as bank or customer accounts, must be legitimate and not fictitious or fraudulent, and typically must be maintained in accordance with applicable laws and regulations. The core function of this clause is to ensure the integrity of financial transactions and prevent the use of fraudulent or non-existent accounts, thereby reducing the risk of financial misconduct or misrepresentation.
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Bona Fide Accounts. The Accounts are bona fide existing obligations. The property giving rise to such Accounts has been delivered to the account debtor or to the account debtor's agent for immediate shipment to and unconditional acceptance by the account debtor.
Bona Fide Accounts. The Accounts are bona fide existing obligations. The property giving rise to such Accounts has been delivered to the account debtor or to the account debtor's agent for immediate shipment to and unconditional acceptance by the account debtor. Borrower has not received notice of actual or imminent Insolvency Proceeding of any account debtor.
Bona Fide Accounts. The Accounts are bona fide existing obligations. The property and services giving rise to such Accounts has been delivered or rendered to the account debtor or to the account debtor's agent for immediate and unconditional acceptance by the account debtor. Borrowers have not received notice of any actual or imminent Insolvency Proceeding of any account debtor whose total obligations to Borrower exceed Two Hundred Thousand Dollars ($200,000).
Bona Fide Accounts. The Borrower warrants to the Agent and the Holders that each of the account debtors obligated on any account has legal capacity to contract and is indebted to the Borrower in the full amount indicated in the books and records of the Borrower and in any assignments executed and delivered to the Agent; that each account is bona fide and arises out of the sale and delivery of merchandise and/or the performance of labor or services.
Bona Fide Accounts. Each item of the Accounts Receivable Collateral arises or will arise under a contract between Borrower and the Account Debtor, or from the bona fide sale or delivery of goods to or performance of services for, the Account Debtor.
Bona Fide Accounts. All Accounts represent bona fide sales or leases of goods and/or services for which Borrower has an unconditional right to payment. None of the Accounts are subject to any rights of offset, counterclaim, cancellation or contractual rights of return.
Bona Fide Accounts. Each item of the Accounts Receivable Collateral arises or will arise under a contract between an Obligor and the respective Account Debtor, or from the bona fide sale or delivery of goods to or performance of services for, the Account Debtor by such Obligor.
Bona Fide Accounts. The Accounts from which Eligible MRR is derived are bona fide existing obligations. The property and services giving rise to such Accounts has been delivered or rendered to the account debtor or to the account debtor’s agent for immediate and unconditional acceptance by the account debtor. Borrower has not received notice of actual or imminent Insolvency Proceeding of any account debtor that is included in any Borrowing Base Certificate as an Account from which Eligible MRR is derived.
Bona Fide Accounts. All Accounts reported to BACC as Eligible Accounts represent bona fide sales or leases of goods and/or services for which Borrower has an unconditional right to payment and as to which the goods have been delivered to the customer and/or the services rendered, as applicable. None of the Accounts reported to BACC as Eligible Accounts are subject to any rights of offset, counterclaim, cancellation or contractual rights of return.
Bona Fide Accounts. The Accounts are bona fide existing obligations.