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 Agent shall record the principal amount of the Loans owing to each Lender from time to time on its books and on the register maintained by the Agent. In addition, each Lender may note the date and amount of each payment or prepayment of principal of such Lender's Loans in its books and records. Failure by the Agent or any Lender to make such notation shall not affect the obligations of the Borrowers with respect to the Loans. The 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 Note or other instrument. The Agent will provide to the Administrative Borrower within thirty (30) days after the last day of each calendar month a monthly statement of Loans and payments pursuant to this Agreement. Such statement shall be deemed correct, accurate, and binding on the Borrowers and an account stated (except for reversals and reapplications of payments made as provided in Section 3.6 and corrections of errors discovered by or acknowledged and agreed to by the Agent), unless the Administrative Borrower, on behalf of the Borrowers, notifies the Agent in writing to the contrary within thirty (30) days after such statement is rendered in accordance with Section 13.8. In the event a timely written notice of objections is given by the Administrative Borrower, only the items to which exception is expressly made will be considered to be disputed by the Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Salton Inc)

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Agent’s and Lenders’ Books and Records; Monthly Statements. The Agent shall record the principal amount of the Loans owing to each Lender from time to time on its books and on the register maintained by the Agentbooks. In addition, each Lender may note the date and amount of each payment or prepayment of principal of such Lender's ’s Loans in its books and records. Failure by the Agent or any Lender to make such notation shall not affect the obligations of the Borrowers with respect to the Loans. The Borrowers Loan Parties agree that the Agent's ’s and each Lender's ’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 Note promissory note or other instrument. The Agent will provide to the Administrative Borrower within thirty (30) days after the last day of each calendar month Borrowers a monthly statement of Loans Loans, payments, and payments other transactions pursuant to this Agreement. Such statement shall be deemed correct, accurate, and binding on the Borrowers Loan Parties and an account stated (except for reversals and reapplications of payments made as provided in Section 3.6 and corrections of errors discovered by or acknowledged and agreed to by the Agent), unless the Administrative Borrower, on behalf of the Borrowers, notifies Borrowers notify the Agent in writing to the contrary within thirty (30) days after such statement is rendered in accordance with Section 13.8rendered. In the event a timely written notice of objections is given by the Administrative BorrowerBorrowers, only the items to which exception is expressly made will be considered to be disputed by the Borrowersdisputed.

Appears in 1 contract

Samples: Term Loan Agreement (Salton Inc)

Agent’s and Lenders’ Books and Records; Monthly Statements. The Agent shall record the principal amount of the Loans owing to each Lender from time to time on its books and on the register maintained by the Agent. In addition, each Lender may note the date and amount of each payment or prepayment of principal of such Lender's ’s Loans in its books and records. Failure by the Agent or any Lender to make such notation shall not affect the obligations of the Borrowers with respect to the Loans. The Borrowers agree that the Agent's ’s and each Lender's ’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 Note or other instrument. The Agent will provide to the Administrative Borrower within thirty (30) days after the last day of each calendar month a monthly statement of Loans and payments pursuant to this Agreement. Such statement shall be deemed correct, accurate, and binding on the Borrowers and an account stated (except for reversals and reapplications of payments made as provided in Section 3.6 and corrections of errors discovered by or acknowledged and agreed to by the Agent), unless the Administrative Borrower, on behalf of the Borrowers, notifies the Agent in writing to the contrary within thirty (30) days after such statement is rendered in accordance with Section 13.8. In the event a timely written notice of objections is given by the Administrative Borrower, only the items to which exception is expressly made will be considered to be disputed by the Borrowers.

Appears in 1 contract

Samples: Reimbursement and Senior Secured Credit Agreement (Salton Inc)

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Agent’s and Lenders’ Books and Records; Monthly Statements. The Agent shall record the principal amount of the Loans owing to each Lender from time to time on its books and on the register maintained by the Agentbooks. In addition, each Lender may note the date and amount of each payment or prepayment of principal of such Lender's Loans in its books and records. Failure by the Agent or any Lender to make such notation shall not affect the obligations of the Borrowers with respect to the Loans. The Borrowers Loan Parties 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 Note promissory note or other instrument. The Agent will provide to the Administrative Borrower within thirty (30) days after the last day of each calendar month Borrowers a monthly statement of Loans Loans, payments, and payments other transactions pursuant to this Agreement. Such statement shall be deemed correct, accurate, and binding on the Borrowers Loan Parties and an account stated (except for reversals and reapplications of payments made as provided in Section 3.6 and corrections of errors discovered by or acknowledged and agreed to by the Agent), unless the Administrative Borrower, on behalf of the Borrowers, notifies Borrowers notify the Agent in writing to the contrary within thirty (30) days after such statement is rendered in accordance with Section 13.8rendered. In the event a timely written notice of objections is given by the Administrative BorrowerBorrowers, only the items to which exception is expressly made will be considered to be disputed by the Borrowersdisputed.

Appears in 1 contract

Samples: Term Loan Agreement (Harbinger Capital Partners Master Fund I, Ltd.)

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