Common use of Liability Records Clause in Contracts

Liability Records. The Lender may maintain from time to time, at its discretion, liability records as to any and all Advances made or repaid, interest accrued or paid under this Agreement, outstanding Letters of Credit and fees thereon and the Borrower's Obligation of Reimbursement. All entries made on any such record shall be presumed correct until the Borrower establishes the contrary. On demand by the Lender, the Borrower will admit and certify in writing the exact principal balance that the Borrower then asserts to be outstanding to the Lender for Advances under this Agreement and the amount of any Letters of Credit outstanding. Any billing statement or accounting rendered by the Lender shall be conclusive and fully binding on the Borrower unless specific written notice of exception is given to the Lender by the Borrower within 30 days after its receipt by the Borrower.

Appears in 2 contracts

Samples: Credit and Security Agreement (Continental Information Systems Corp), Credit and Security Agreement (Continental Information Systems Corp)

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Liability Records. The Lender may maintain from time to time, at its discretion, liability records as to any and all Advances made or repaid, interest accrued or paid under this Agreement, outstanding Letters of Credit and fees thereon and the Borrower's Borrowers’ Obligation of Reimbursement. All entries made on any such record shall be presumed correct until the Borrower establishes Borrowers establish the contrary. On demand by the Lender, the Borrower Borrowers will admit and certify in writing the exact principal balance that the Borrower Borrowers then asserts assert to be outstanding to the Lender for Advances under this Agreement and the amount of any Letters of Credit outstanding. Any billing statement or accounting rendered by the Lender shall be conclusive and fully binding on presumed correct, until Borrowers establish the Borrower unless specific written notice of exception is given to the Lender by the Borrower within 30 days after its receipt by the Borrowercontrary.

Appears in 1 contract

Samples: Patent, Trademark and License Collateral Assignment and Security Agreement (Synergetics Usa Inc)

Liability Records. The Lender may maintain from time to time, at its discretion, liability records as to any and all Advances made or repaid, interest accrued or paid under this Agreement, outstanding Letters of Credit and fees thereon and the Borrower's Obligation of Reimbursement. All entries made on any such record shall be presumed correct 13 until the Borrower establishes the contrary. On demand by the Lender, the Borrower will admit and certify in writing the exact principal balance that the Borrower then asserts to be outstanding to the Lender for Advances under this Agreement and the amount of any Letters of Credit outstanding. Any billing statement or accounting rendered by the Lender shall be conclusive and fully binding on the Borrower unless specific written notice of exception is given to the Lender by the Borrower within 30 days after its receipt by the Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Gateway Data Sciences Corp)

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Liability Records. The Lender may maintain from time to time, at its Its discretion, liability records as to any and all Advances made or repaid, interest accrued or paid under this Agreement, outstanding Letters of Credit and fees thereon and the Borrower's Obligation of Reimbursement. All entries made on any such record shall be presumed correct until the Borrower establishes the contrary. On demand by the Lender, the Borrower will admit and certify in writing the exact principal balance that the Borrower then asserts to be outstanding to the Lender for Advances under this Agreement and the amount of any Letters of Credit outstanding. Any billing statement or accounting rendered by the Lender shall be conclusive and fully binding on the Borrower unless specific written notice of exception is given to the Lender by the Borrower within 30 180 days after its receipt by the Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Crager Industries Inc)

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