Common use of Notes Receivable Clause in Contracts

Notes Receivable. Schedule 4.09 sets forth all notes receivable and other receivables in excess of Five Thousand Dollars ($5,000), which are not included in the accounts receivable, reflected on the most recent balance sheet included in the Financial Statements or will be reflected in the Current Financial Statements. RMED has no notice of any defect, defense, counterclaim, or setoff to payment which the maker of any note receivable may claim or assert or of any fact or circumstance which would give rise to denial of payment thereof by the maker of any note receivable. Also included on Schedule 4.09 is a list of all loans, advances or other payments in excess of Five Thousand Dollars ($5,000) receivable from directors, officers and employees of RMED ("Employee Receivables") setting forth the name of the individual, the amount receivable by RMED from such individual, and the terms on which such Employee Receivable is to be repaid. RMED has provided to Sub true and complete copies of all promissory notes or other documents evidencing the Employee Receivables. RMED agrees to cause all individuals that are obligated for an Employee Receivable that is not evidenced by a document, to execute and deliver to RMED promissory notes or other documents satisfactory to Sub evidencing the obligation to pay such Employee Receivable prior to Closing.

Notes Receivable. Schedule 4.09 3.9 sets forth all notes receivable and other receivables in excess of Five Thousand Dollars ($5,0005,000.00), which are not included in the accounts receivable, reflected on the most recent balance sheet included in the Financial Statements or will be reflected in the Current Financial Statements. RMED has no notice of any defect, defense, counterclaim, or setoff to payment which the maker of any note receivable may claim or assert or of any fact or circumstance which would give rise to denial of payment thereof by the maker of any note receivable. Also included on Schedule 4.09 3.9 is a list of all loans, advances or other payments in excess of Five Thousand Dollars ($5,0005,000.00) receivable from directors, officers and employees of RMED (the "Employee Receivables") setting forth the name of the individual, the amount receivable by RMED from such individual, and the terms on which such Employee Receivable is to be repaid. RMED has provided to Sub Buyer true and complete copies of all promissory notes or other documents evidencing the Employee Receivables. RMED agrees to cause all individuals that are obligated for an Employee Receivable that is not evidenced by a document, to execute and deliver to RMED promissory notes or other documents satisfactory to Sub Buyer evidencing the obligation to pay such Employee Receivable prior to Closing.

Notes Receivable. Schedule 4.09 3.12 sets forth all notes receivable and other receivables in excess of Five Thousand Dollars ($5,000), which are not included in the accounts receivable, which are reflected on the most recent balance sheet which is included in the Financial Statements or will be reflected in the Current Financial Statements. RMED The Company has no notice of any defect, defense, counterclaim, or setoff to payment which the maker of any note receivable may claim or assert or of any fact or circumstance which would give rise to denial of payment thereof by the maker of any note receivable. Also included on Schedule 4.09 3.12 is a list of all loans, advances or other payments in excess of Five Thousand Dollars ($5,000) receivable from directors, officers and employees of RMED the Company ("Employee Receivables") setting forth the name of the individual, the amount receivable by RMED the Company from such individual, and the terms on which such Employee Receivable is to be repaid. RMED The Company has provided to Sub true and complete copies of all promissory notes or other documents evidencing the Employee Receivables. RMED The Company agrees to cause all individuals that are obligated for an Employee Receivable that is not evidenced by a document, to execute and deliver to RMED the Company promissory notes or other documents satisfactory to Sub evidencing the obligation to pay such Employee Receivable prior to Closing.