Common use of Amount of Guaranteed Obligations Clause in Contracts

Amount of Guaranteed Obligations. Any account settled or stated by or between the Administration Agent and a Borrower or, if any such account has not been so settled or stated immediately before demand for payment under this Article 10, any account thereafter stated by the Administration Agent shall, in the absence of demonstrable error, fraud, dishonesty or improper conduct, be accepted by each Guarantor as conclusive evidence of the amount of the Guaranteed Obligations which at the date of the account so settled or stated is due by such Borrower to the Administration Agent or the Lenders or remains unpaid by such Borrower to the Administration Agent or the Lenders.