Control Account. The Facility Agent shall (without further input required from the Borrower) open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this clause 17.7 by the Facility Agent and those entries will, in the absence of manifest error, be conclusive and binding.
Appears in 5 contracts
Samples: Loan Agreement (Teekay Offshore Partners L.P.), Secured Term Loan Facility (Teekay Offshore Partners L.P.), Loan Agreement
