Common use of Agent’s and Lenders’ Books and Records; Monthly Statements Clause in Contracts

Agent’s and Lenders’ Books and Records; Monthly Statements. The Borrower agrees that the Agent's and each Lender's books and records showing the Obligations and the transactions pursuant to this Agreement and the other Loan Documents shall be admissible in any action or proceeding arising therefrom, and shall constitute rebuttably presumptive proof thereof, irrespective of whether any Obligation is also evidenced by a promissory note or other instrument. The Agent will provide to the Borrower a monthly statement of Loans, payments, and other transactions pursuant to this Agreement. Such statement shall be deemed correct, accurate, and binding on the Borrower and an account stated (except for reversals and reapplications of payments made as provided in SECTION 4.8 and corrections of errors discovered by the Agent), unless the Borrower notifies the Agent in writing to the contrary within sixty (60) days after such statement is rendered. In the event a timely written notice of objections is given by the Borrower, only the items to which exception is expressly made will be considered to be disputed by the Borrower.

Appears in 2 contracts

Samples: Guaranty and Security Agreement (Riddell Sports Inc), Loan and Security Agreement (Strategic Distribution Inc)

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Agent’s and Lenders’ Books and Records; Monthly Statements. The Each Borrower agrees that the Agent's and each Lender's books and records showing the Obligations owing by it and the transactions pursuant to this Agreement and the other Loan Documents shall be admissible in any action or proceeding arising therefrom, and shall constitute rebuttably presumptive proof thereof, irrespective of whether any Obligation is also evidenced by a promissory note or other instrument. The Agent will provide to the Borrower Borrowers a monthly statement of Loans, payments, and other transactions pursuant to this Agreement. Such statement shall be deemed correct, accurate, and binding on the Borrower Borrowers and an account stated (except for reversals and reapplications of payments made as provided in SECTION 4.8 4.5 and corrections of errors discovered by the Agent), unless the Borrower notifies Borrowers notify the Agent in writing to the contrary within sixty ninety (6090) days after such statement is rendered. In the event a timely written notice of objections is given by the BorrowerBorrowers, only the items to which exception is expressly made will be considered to be disputed by the BorrowerBorrowers.

Appears in 2 contracts

Samples: Loan and Security Agreement (Hills Stores Co /De/), Loan and Security Agreement (Hills Stores Co /De/)

Agent’s and Lenders’ Books and Records; Monthly Statements. The -------------------------------------------------------------- Borrower agrees that the Agent's and each Lender's books and records showing the Obligations and the transactions pursuant to this Agreement and the other Loan Documents shall be admissible in any action or proceeding arising therefrom, and shall constitute rebuttably presumptive proof thereof, irrespective of whether any Obligation is also evidenced by a promissory note or other instrument. The Agent will provide to the Borrower a monthly statement of Loans, payments, and other transactions pursuant to this Agreement. Such statement shall be deemed correct, accurate, and binding on the Borrower and an account stated (except for reversals and reapplications of payments made as provided in SECTION 4.8 Section 4.5 and ----------- corrections of errors discovered by the Agent), unless the Borrower notifies the Agent in writing to the contrary within sixty thirty (6030) days after such statement is rendered. In the event a timely written notice of objections is given by the Borrower, only the items to which exception is expressly made will be considered to be disputed by the Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Advanced Micro Devices Inc)

Agent’s and Lenders’ Books and Records; Monthly Statements. The Each Borrower agrees that the Agent's and each Lender's books and records showing the Obligations and the transactions pursuant to this Agreement and the other Loan Documents shall be admissible in any action or proceeding arising therefrom, and shall constitute rebuttably presumptive proof thereof, irrespective of whether any Obligation is also evidenced by a promissory note or other instrument. The Agent will provide to the Borrower Parent a monthly statement of Loans, payments, and other transactions pursuant to this Agreement. Such statement shall be deemed correct, accurate, and binding on the Borrower Borrowers and an account stated (except for reversals and reapplications of payments made as provided in SECTION 4.8 and corrections of errors discovered by the Agent), unless the a Borrower notifies the Agent in writing to the contrary within sixty thirty (6030) days after such statement is rendered. In the event a timely written notice of objections is given by the BorrowerBorrowers, only the items to which exception is expressly made will be considered to be disputed by the BorrowerBorrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (Worldtex Inc)

Agent’s and Lenders’ Books and Records; Monthly Statements. The Each Borrower agrees that the Agent's and each Lender's books and records showing the Obligations and the transactions pursuant to this Agreement and the other Loan Documents shall be admissible in any action or proceeding arising therefrom, therefrom and shall constitute rebuttably presumptive PRIMA FACIE proof thereof, irrespective of whether any Obligation is also evidenced by a promissory note or other instrument. The Agent will shall provide to the Borrower Trend-Lines a monthly statement of Loans, payments, and other transactions of the Borrowers pursuant to this Agreement. Such statement shall be deemed correct, accurate, and binding on the Borrower Borrowers and as an account stated (except for reversals and reapplications of payments made as provided in SECTION 4.8 4.7 and corrections of errors discovered by the Agent), unless the Borrower Trend-Lines notifies the Agent in writing to the contrary within sixty (60) 30 days after such statement is rendered. In the event a timely written notice of objections is given by the BorrowerTrend-Lines, only the items to which exception is expressly made will be considered to be disputed by the Borrowerdisputed.

Appears in 1 contract

Samples: Trademark Security Agreement (Trend Lines Inc)

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Agent’s and Lenders’ Books and Records; Monthly Statements. The Borrower agrees Borrowers agree that the Agent's and each Lender's books and records showing the Obligations and the transactions pursuant to this Agreement and the other Loan Documents shall be admissible in any action or proceeding arising therefrom, and shall constitute rebuttably presumptive proof thereof, irrespective of whether any Obligation is also evidenced by a promissory note or other instrument. The Agent will provide to Consumer for the Borrower benefit of both Borrowers a monthly statement of Loans, payments, and other transactions pursuant to this Agreement. Such Absent manifest error, such statement shall be deemed correct, accurate, and binding on the Borrower Borrowers and an account stated (except for reversals and reapplications of payments made as provided in SECTION 4.8 4.5 and corrections of errors discovered by the Agent), unless the Borrower notifies Borrowers notify the Agent in writing to the contrary within sixty thirty (6030) days after such statement is rendered. In the event a timely written notice of objections is given by the BorrowerBorrowers, only the items to which exception is expressly made will be considered to be disputed by the BorrowerBorrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (Waxman Industries Inc)

Agent’s and Lenders’ Books and Records; Monthly Statements. The Borrower agrees that the Agent's and each Lender's books and records showing the Obligations and the transactions pursuant to this Agreement and the other Loan Documents shall be admissible in any action or proceeding arising therefrom, and shall constitute rebuttably presumptive proof thereofthereof absent manifest error, irrespective of whether any Obligation is also evidenced by a promissory note or other instrument. The Agent will provide to the Borrower a monthly statement of Loans, payments, and other transactions pursuant to this Agreement. Such statement shall be deemed correct, accurate, and binding on the Borrower and an account stated (except for reversals and reapplications of payments made as provided in SECTION 4.8 and corrections of errors discovered by the Agent), unless the Borrower notifies the Agent in writing to the contrary within sixty thirty (6030) days after such statement is rendered. In the event a timely written notice of objections is given by the Borrower, only the items to which exception is expressly made will be considered to be disputed by the Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Fruit of the Loom LTD)

Agent’s and Lenders’ Books and Records; Monthly Statements. The Borrower agrees ---------------------------------------------------------- Borrowers agree that the Agent's and each Lender's books and records showing the Obligations and the transactions pursuant to this Agreement and the other Loan Documents shall be admissible in any action or proceeding arising therefrom, and shall constitute rebuttably presumptive proof thereof, irrespective of whether any Obligation is also evidenced by a promissory note or other instrument. The Agent will provide to the Borrower ABT a monthly statement of Loans, payments, and other transactions pursuant to this Agreement. Such statement shall be deemed correct, accurate, and binding on the Borrower Borrowers and an account stated (except for reversals and reapplications of payments made as provided in SECTION Section 4.8 and ----------- corrections of errors discovered by the Agent), unless the Borrower ABT notifies the Agent in writing to the contrary within sixty (60) days after such statement is rendered. In the event a timely written notice of objections is given by the BorrowerABT, only the items to which exception is expressly made will be considered to be disputed by the BorrowerBorrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (Agribiotech Inc)

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