Common use of Liability Records Clause in Contracts

Liability Records. Lender may maintain from time to time, at its discretion, records as to the Obligations. All entries made on any such record shall be presumed correct until Borrower establishes the contrary. Upon Lender’s demand, Borrower will admit and certify in writing the exact principal balance of the Obligations that Borrower then asserts to be outstanding. Any billing statement or accounting rendered by Lender shall be conclusive and fully binding on Borrower unless Borrower gives Lender specific written notice of exception within 30 days after receipt.

Appears in 3 contracts

Samples: Credit and Security Agreement (Boots & Coots International Well Control Inc), Credit and Security Agreement (Landec Corp \Ca\), Credit and Security Agreement (Landec Corp \Ca\)

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Liability Records. The Lender may maintain from time to time, at its discretion, records as to the Obligations. All entries made on any such record shall be presumed correct until Borrower establishes the Borrowers establish the contrary. Upon the Lender’s demand, Borrower the Borrowers will admit and certify in writing the exact principal balance of the Obligations that Borrower the Borrowers then asserts assert to be outstanding. Any billing statement or accounting rendered by the Lender shall be conclusive and fully binding on Borrower the Borrowers unless Borrower the Borrowers gives the Lender specific written notice of exception within 30 thirty (30) days after receipt.

Appears in 1 contract

Samples: Credit and Security Agreement (Orion Energy Systems, Inc.)

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Liability Records. The Lender may maintain from time to time, at its discretion, liability records as to the Obligations. All entries made on any such record shall be presumed correct until Borrower establishes Upon the contrary. Upon Lender’s demand's request, the Borrower will review, admit and certify in writing the exact principal balance of the Obligations that the Borrower then asserts to be outstanding. Any billing statement or accounting rendered by the Lender and delivered to the Borrower shall be conclusive and fully binding on the Borrower unless the Borrower gives the Lender specific written notice of exception within 30 thirty (30) days after receiptreceipt by the Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Telular Corp)

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