Common use of Bona Fide Accounts Clause in Contracts

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.