Common use of Account Stated Clause in Contracts

Account Stated. Lender shall maintain, in accordance with customary practices, loan account(s) evidencing the Debt of Borrower hereunder. Any failure of Lender to record anything in a loan account, or any error in doing so, shall not limit or otherwise affect the obligation of Borrower to pay any amount owing hereunder. Entries made in a loan account shall constitute presumptive evidence of the information contained therein. If any information contained in a loan account is provided to or inspected by any Person, the information shall be conclusive and binding on such Person for all purposes absent manifest error, except to the extent such Person notifies Lender in writing within 30 days after receipt or inspection that specific information is subject to dispute.

Appears in 4 contracts

Samples: Loan and Security Agreement (Select Interior Concepts, Inc.), Loan and Security Agreement (Select Interior Concepts, Inc.), Loan and Security Agreement (Select Interior Concepts, Inc.)

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Account Stated. Lender shall maintain, in accordance with its usual and customary practices, loan account(s) evidencing the Debt of Borrower Borrowers hereunder. Any failure of Lender to record anything in a loan account, or any error in doing so, shall not limit or otherwise affect the obligation of Borrower Borrowers to pay any amount owing hereunder. Entries made in a loan account shall constitute presumptive evidence of the information contained therein. If any information contained in a loan account is provided to or inspected by any Person, the information shall be conclusive and binding on such Person for all purposes absent manifest error, except to the extent such Person notifies Lender in writing within 30 days after receipt or inspection that specific information is subject to dispute.

Appears in 1 contract

Samples: Loan and Security Agreement (Radiant Logistics, Inc)

Account Stated. Lender shall maintain, in accordance with its customary practices, loan account(s) evidencing the Debt of Borrower Borrowers hereunder. Any failure of Lender to record anything in a loan account, or any error in doing so, shall not limit or otherwise affect the obligation of Borrower Borrowers to pay any amount owing hereunder. Entries made in a loan account shall constitute presumptive evidence of the information contained therein. If any information contained in a loan account is provided to or inspected by any Person, the information shall be conclusive and binding on such Person for all purposes absent manifest error, except to the extent such Person notifies Lender in writing within 30 days after receipt or inspection that specific information is subject to dispute.

Appears in 1 contract

Samples: Loan and Security Agreement (Blyth Inc)

Account Stated. Lender shall maintain, in accordance with its customary practices, loan account(sloanaccount(s) evidencing the Debt of Borrower Borrowers hereunder. Any failure of Lender to record anything in a loan account, or any error in doing so, shall not limit or otherwise affect the obligation of Borrower Borrowers to pay any amount owing hereunder. Entries made in a loan account shall constitute presumptive evidence of the information contained therein. If any information contained in a loan account is provided to or inspected by any Person, the information shall be conclusive and binding on such Person for all purposes absent manifest error, except to the extent such Person notifies Lender in writing within 30 days after receipt or inspection that specific information is subject to dispute.

Appears in 1 contract

Samples: Loan and Security Agreement (LIVE VENTURES Inc)

Account Stated. Lender shall maintain, in accordance with customary practices, loan account(s) evidencing the Debt of Borrower Obligors hereunder. Any failure of Lender to record anything in a loan account, or any error in doing so, shall not limit or otherwise affect the obligation of Borrower Obligors to pay any amount owing hereunder. Entries made in a loan account shall constitute presumptive evidence of the information contained therein. If any information contained in a loan account is provided to or inspected by any Person, the information shall be conclusive and binding on such Person for all purposes absent manifest error, except to the extent such Person notifies Lender in writing within 30 thirty (30) days after receipt or inspection that specific information is subject to dispute.

Appears in 1 contract

Samples: Loan and Security Agreement (Revolution Lighting Technologies, Inc.)

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Account Stated. Lender shall maintain, in accordance with customary practices, loan account(s) evidencing the Debt of Borrower hereunder. Any failure of Lender to record anything in a loan account, or any error in doing so, shall not limit or otherwise affect the obligation of Borrower to pay any amount owing hereunder. Entries made in a loan account shall constitute presumptive evidence of the information contained therein. If any information contained in a loan account is provided to or inspected by any Person, the information shall be conclusive and binding on such Person for all purposes absent manifest error, except to the extent such Person notifies Lender in writing within 30 days after receipt or inspection that specific information is subject to dispute.. [SIC] A&R Loan, Security and Guaranty Agreement

Appears in 1 contract

Samples: Loan, Security and Guaranty Agreement (Select Interior Concepts, Inc.)

Account Stated. Lender shall maintain, in accordance with customary practices, maintain a loan account(s) accounts evidencing the Debt of Borrower Borrowers hereunder. Any failure of Lender to record anything in a the loan account, or any error in doing so, shall not limit or otherwise affect the obligation of Borrower Borrowers to pay any amount owing hereunder. Entries made in a the loan account shall constitute presumptive evidence of the information contained therein. If any information contained in a the loan account is provided to or inspected by any Person, the information shall be conclusive and binding on such Person for all purposes absent manifest error, except to the extent such Person notifies Lender in writing within 30 days after receipt or inspection that specific information is subject to dispute.

Appears in 1 contract

Samples: Loan and Security Agreement (LIVE VENTURES Inc)

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