4.10. [Accounts Receivable; Inventories and Equipment. The accounts receivable of the Company are valid and genuine, have arisen solely out of bona fide sales and deliveries of goods, performance of services or other business transactions in the Ordinary Course of Business, and are not subject to valid defenses, set-offs or counterclaims. The allowances for collection losses associated with such accounts receivable reflected on the Companys books have been determined in accordance with GAAP and are consistent with past practice agreement. A special articulation agreement is available for students who earn their associate degree from Richard Bland College and may provide …