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

Accrual of Interest and Maturity; Evidence of Indebtedness. (i) Agent shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the Borrower to Agent resulting from each Swing Line Advance from time to time, including the amount and date of each Swing Line Advance, its Applicable Interest 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 Agent shall be prima facie evidence, absent manifest error, of the existence and amounts of the obligations of the Borrower therein recorded; provided, however, that the failure of Agent to maintain such account, as applicable, or any error therein, shall not in any manner affect the obligation of the 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 5 contracts

Samples: Mortgage Warehousing Agreement (M/I Homes, Inc.), Mortgage Warehousing Agreement (M I Homes Inc), Mortgage Warehousing Agreement (M I Homes Inc)

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Accrual of Interest and Maturity; Evidence of Indebtedness. (i) Agent shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the Borrower to Agent resulting from each Swing Line Advance from time to time, including the amount and date of each Swing Line Advance, its Applicable Interest 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 Agent shall be prima facie evidence, absent manifest error, of the existence and amounts of the obligations of the Borrower therein recorded; provided, however, that the failure of Agent to maintain such account, as applicable, or any error therein, shall not in any manner affect the obligation of the Borrower to repay the Swing Line Advances (and all other amounts owing with respect thereto) in accordance with the terms of this Agreement.. 4854-1287-6893.v9

Appears in 1 contract

Samples: Mortgage Warehousing Agreement (M/I Homes, Inc.)

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