Common use of Creditors and liabilities Clause in Contracts

Creditors and liabilities. 10.1 The Purchasers hereby agree and accept that they are accepting the Company with all its creditors and debtors as of the Completion Date and as disclosed in the Company’s Accounts and the Management Accounts as of that date; 10.2 For any debtors as at 30th June 2003 not collected by the Company on or before 28th February 2004 the amount of the same shall be deducted from >>name<<’s Loan account and in this instance >>name<< shall indemnify and does indemnify the Company in respect of any moneys not so collected;

Creditors and liabilities. 10.1 The Purchasers hereby agree and accept that they are accepting the Company with all its creditors and debtors as of the Completion Date and as disclosed in the Company’s Accounts and the Management Accounts as of that date; 10.2 For any debtors as at 30th June 2003 not collected by the Company on or before 28th February 2004 the amount of the same shall be deducted from >>name<<vvvvvvv’s Loan account and in this instance >>name<< vvvvvvv shall indemnify and does indemnify the Company in respect of any moneys not so collected;