Common use of Notes and Accounts Receivables Clause in Contracts

Notes and Accounts Receivables. All Accounts Receivable of the Company are reflected properly on its books and records, are valid receivables subject to no setoffs or counterclaims, are current and collectible, and will be collected in the Ordinary Course of Business (so long as Company uses commercially reasonable efforts to collect them) in accordance with their terms at their recorded amounts, subject only to the reserve for bad debts set forth on the face of the Balance Sheet (rather than in any notes thereto) as adjusted for the passage of time through the Closing Date, except as shown on Schedule 2.23.