Common use of Validity of Accounts Clause in Contracts

Validity of Accounts. (a) The amount of each Account shown on the books, records, and invoices of the Borrower represented as owing by each Account Debtor is and will be the correct amount actually owing by such Account Debtor and shall have been fully earned by performance by the Borrower, subject to such Account Debtor’s rights to return merchandise in the normal course of the Borrower’s business. (b) The Borrower has no knowledge of any impairment of the validity or collectibility of any of the Eligible Credit Card Receivables other than impairments arising in the ordinary course of business The Borrower shall notify the Agent of any impairment outside the ordinary course of business immediately after the Borrower becomes aware of any such impairment.

Validity of Accounts. (a) The amount of each Account shown on the books, records, and invoices of the Borrower represented as owing by each Account Debtor is and will be the correct amount actually owing by such Account Debtor and shall have been fully earned by performance by the Borrower, subject to such Account Debtor’s 's rights to return merchandise in the normal course of the Borrower’s 's business. (b) The Borrower has no knowledge of any impairment of the validity or collectibility of any of the Eligible Credit Card Receivables other than impairments arising in the ordinary course of business The Borrower shall notify the Agent of any impairment outside the ordinary course of business immediately after the Borrower becomes aware of any such impairment.

Validity of Accounts. (a) The amount of each Account shown on the books, records, and invoices of the Borrower Borrowers represented as owing by each Account Debtor is and will be the correct amount actually owing by such Account Debtor and shall have been fully earned by performance by the BorrowerBorrowers, subject to such Account Debtor’s rights to return merchandise in the normal course of the Borrower’s Borrowers’ business. (b) The Borrower has Borrowers have no knowledge of any impairment of the validity or collectibility of any of the Eligible Credit Card Receivables other than impairments arising in the ordinary course of business business. The Borrower Borrowers shall notify the Agent of any impairment outside the ordinary course of business immediately after the Borrower becomes Borrowers become aware of any such impairment.