Common use of Accrual of Interest and Maturity; Evidence of Indebtedness Clause in Contracts

Accrual of Interest and Maturity; Evidence of Indebtedness. (i) Swing Line Lender shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the US Borrower to Swing Line Lender resulting from each Swing Line Advance from time to time, including the amount and date of each Swing Line Advance, its Applicable Interest Rate (which rate shall change on the date of any change in the Daily LIBOR Rate), and the amount and date of any repayment made on any Swing Line Advance from time to time. The entries made in such account or accounts of Swing Line Lender shall be prima facie evidence, absent manifest error, of the existence and amounts of the obligations of the US Borrower therein recorded; provided, however, that the failure of Swing Line Lender to maintain such account, as applicable, or any error therein, shall not in any manner affect the obligation of the US Borrower to repay the Swing Line Advances (and all other amounts owing with respect thereto) in accordance with the terms of this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Unique Fabricating, Inc.), Credit Agreement (Unique Fabricating, Inc.)

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Accrual of Interest and Maturity; Evidence of Indebtedness. (i) US Swing Line Lender shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the US Borrower Borrowers to US Swing Line Lender resulting from each US Swing Line Advance from time to time, including the amount and date of each US Swing Line Advance, its Applicable Interest Rate (which rate shall change on the date of any change in the Daily LIBOR Rate), its Interest Period, if any, and the amount and date of any repayment made on any US Swing Line Advance from time to time. The entries made in such account or accounts of US Swing Line Lender shall be prima facie evidence, absent manifest error, of the existence and amounts of the obligations of the US Borrower Borrowers therein recorded; provided, however, that the failure of US Swing Line Lender to maintain such account, as applicable, or any error therein, shall not in any manner affect the obligation of the US Borrower Borrowers to repay the US Swing Line Advances (and all other amounts owing with respect thereto) in accordance with the terms of this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Manitex International, Inc.), Credit Agreement (Manitex International, Inc.)

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