Common use of Collectability of Accounts Receivable Clause in Contracts

Collectability of Accounts Receivable. All existing accounts receivable of the Company (including those accounts receivable reflected on the Base Balance Sheet that have not yet been collected and those accounts receivable that have arisen since the date of the Base Balance Sheet and have not yet been collected) (i) represent valid obligations of customers of the Company arising from bona fide transactions entered into in the ordinary course of business and (ii) are current, valid and enforceable and will be collected in full when due, consistent with historical client collection patterns, without any counterclaim or set off, subject to bad debt reserves in the amounts set forth in the Financial Statements. The Company has no accounts or loans receivable from any person which is affiliated with the Company or from any director, officer or employee of the Company, other than those loans receivable set forth on Schedule 2.10(h).

Collectability of Accounts Receivable. All existing accounts receivable of the Company (including those accounts receivable reflected on the Base Balance Sheet that have not yet been collected and those accounts receivable that have arisen since the date of the Base Balance Sheet and have not yet been collected) (i) represent valid obligations of customers of the Company arising from bona fide transactions entered into in the ordinary course of business and (ii) are current, valid and enforceable and will be collected in full when due, consistent with historical client collection patterns, without any counterclaim or set off, subject to bad debt reserves in the amounts set forth in the Financial Statements. The Company has no accounts or loans receivable from any person which is affiliated with the Company or from any director, officer or employee of the Company, other than those loans receivable set forth on Schedule SCHEDULE 2.10(h).