Client Ledger Account Sample Clauses
Client Ledger Account. 2.1.1 Purchaser shall record in the Client Ledger Account all debits, credits and other entries for all transactions between Client and Purchaser hereunder or under any Other Agreement, without limitation, all purchases from Client of Purchased Accounts, payments to such Client of the Purchase Price of such Purchased Accounts, collections of such Purchased Accounts, and charges for which Client is liable hereunder or under any Other Agreement, including, without limitation, amounts due for any Repurchase Price, discount, fees, costs, expenses and taxes.
2.1.2 At Client’s written request, any credit balance in the Client Ledger Account shall be released to Client. Should the Client Ledger Account at any time have a deficit balance, Purchaser shall provide Client with written notice thereof and such Client shall pay to the Purchaser the amount of such deficit on or before the date and in accordance with the wire transfer instructions specified in such written notice.
2.1.3 Purchaser shall make available to Client an internet accessible website which will permit Client to view all debits, credits and other entries made by Purchaser to the Client Ledger Account during specific periods. Client agrees to log on to the internet accessible website provided by Purchaser no less frequently than monthly, and Client shall review all transactions posted to the Client Ledger Account through the last day of each month. All postings to the Client Ledger Account for each month shall be subject to subsequent adjustment by Purchaser but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Client and Purchaser unless, within 60 days after the last day of any month, Client shall deliver to Purchaser written objection to the postings for such month describing the error or errors contained in any such postings.
2.1.4 Client hereby unconditionally promises to pay to Purchaser all amounts due from Client to Purchaser, as and when due, without deduction or setoff, regardless of any defense or counterclaim, in accordance with this Agreement. Client hereby irrevocably authorizes Purchaser, from time to time and without prior notice to Client, to charge to the Client Ledger Account all amounts, including, without limitation, the amount of any Repurchase Price, all Discount Fees, and all other costs, fees, expenses and other charges, payable by Client hereunder or under any of the Other Agreements.
Client Ledger Account. 2.1.1 WFB shall record in the Client Ledger Account all debits, credits and other entries for all transactions between Client and WFB hereunder or under any Other Agreement, including, without limitation, all purchases of Acceptable Accounts, payments of the Purchase Price of each Acceptable Account purchased hereunder, collections of Accounts, Reserves, and charges for all other Obligations, including, without limitation, amounts due for any Repurchase Price, accrued interest, discount, fees, costs and expenses.
2.1.2 Absent the occurrence of an Event of Default, WFB shall make available to Client an internet accessible website which will permit Client to view all debits, credits and other entries made by WFB to the Client Ledger Account during specific periods.
2.1.3 Client agrees to log on to the internet accessible website provided by WFB no less frequently than monthly, and Client shall review all transactions posted to the Client Ledger Account through the last day of each month. All postings to the Client Ledger Account for each month shall be subject to subsequent adjustment by WFB but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Client and WFB unless, within 60 days after the last day of any month, Client shall deliver to WFB written objection to the postings for such month describing the error or errors contained in any such statement.
2.1.4 Client hereby unconditionally promises to pay to WFB all Obligations, as and when due, without deduction or setoff, regardless of any defense or counterclaim, in accordance with this Agreement. Client hereby irrevocably authorizes WFB, from time to time and without prior notice to Client, to charge all Obligations, including, without limitation, the amount of any Repurchase Price, all interest, discount, costs, fees, expenses and other charges payable by Client hereunder or under any of the Other Agreements, to the Client Ledger Account maintained by WFB.