Line Account. The Bank shall maintain on its books a record of account in which the Bank shall make entries for each Advance and such other debits and credits as shall be appropriate in connection with the Line of Credit facility (the "Line Account"). The Bank shall provide the Borrower with a monthly statement of the Borrower's Line Account, which statement shall be considered to be correct and conclusively binding on the Borrower unless the Bank is notified by the Borrower to the contrary within thirty (30) days after the Borrower's receipt of any such statement which is deemed to be incorrect.
Line Account. The Bank shall maintain on its books a record of account in which the Bank shall make entries for each Advance and such other debits and credits as shall be appropriate in connection with the Line of Credit (the "Line Account").
Line Account. 1. The Bank shall maintain on its books a record of account in which the Bank shall make entries for each Advance and such other debits and credits as shall be appropriate in connection with the Line of Credit (the "Line Account"). The Bank shall provide the Borrower with a monthly statement of the Borrower's Line Account upon the Borrower's request therefor from time to time, which statement shall be considered to be correct and conclusively binding on the Borrower unless the Borrower notifies the Bank to the contrary within 30 days after the Borrower's receipt of any such statement which it deems to be incorrect.
Line Account. (a) The Bank shall maintain on its books a record of account in which the Bank shall make entries for each Advance and such other debits and credits as shall be appropriate in connection with the Line of Credit (the "Line Account"). The Bank shall provide the Borrower with a monthly statement of the Borrower's Line Account, which statement shall be considered to be correct and conclusively binding on the Borrower unless the Borrower notifies the Bank to the contrary within 60 days after the Borrower's receipt of any such statement which it deems to be incorrect, or unless there is a manifest error.
Line Account. Lender shall maintain on its books a record of account in which Lender shall make entries for each Advance and such other debits and credits as shall be appropriate in connection with the Line. Lender shall provide Borrowers with periodic statements of Borrowers’ account, which statements shall be considered to be correct and conclusively binding on Borrowers absent manifest error unless Borrowers notify Lender to the contrary within thirty (30) days after Borrowers’ receipt of any such statement.”
Line Account. Agent shall maintain on its books a record of account in which Agent shall make entries for each Advance and such other debits and credits as shall be appropriate in connection with the credit facilities granted hereunder (the “Line Account”). Agent shall provide the Borrower with a statement of the Borrower’s Line Account, which statement shall be considered to be correct and conclusively binding on the Borrower unless the Borrower notifies Agent to the contrary within thirty (30) days after the Borrower’s receipt of any such statement which it deems to be incorrect.
Line Account. The Bank shall maintain on its books a record of account in which the Bank shall make entries for each Advance and such other debits and credits as shall be appropriate in connection with the Line of Credit (the "Line Account"). The Bank shall provide the Borrowers with a monthly statement of the Borrowers' Line Account, which statement shall be considered to be correct and conclusively binding on the Borrowers unless any Borrower notifies the Bank to the contrary within 18 months after such Borrower's receipt of any such statement which it deems to be incorrect. Each Borrower hereby authorizes the Bank, if and to the extent payment owed to the Bank under the Line of Credit is not made when due, to charge, from time to time, against any or all of any Borrower's deposit accounts with the Bank any amount so due.
Line Account. If Borrower exceeds Borrower’s Credit Limit, Borrower agrees to repay immediately the amount by which Borrower’s Credit Line Account exceeds Borrower’s Credit Limit. Any amount greater than the Credit Limit will be secured by the security agreement covering Borrower’s property. Charges to Borrower’s Credit Line. Lender may charge Borrower’s Credit Line to pay other fees and costs that Borrower is obligated to pay under this Agreement, the security agreement or any other document related to Borrower’s Credit Line. In addition, Lender may charge Borrower’s Credit Line for funds required for continuing insurance coverage as described in the paragraph titled “Insurance” below or as described in the security agreement for this transaction. Any amount so charged to Borrower’s Credit Line will be a credit advance and will decrease the funds available, if any, under the Credit Line, However, Lender has no obligation to provide any of the credit advances referred to in this paragraph. Credit Advances. Beginning on the Opening Date of this Agreement, Borrower may obtain credit advances under Borrower’s Credit Line as follows: Officer Approval. Upon approval by an Independence Bank Loan Officer. If there is more than one person authorized to use this Credit Line Account, Borrower agrees not to give Lender conflicting instructions, such as one Borrower telling Lender not to give advances to the other. Transaction Requirements. The following transaction limitations will apply to the use of Borrower’s Credit Line: Officer Approval Limitations. The following transaction limitations will apply to Borrower’s Credit Line and accessing by other methods. Minimum Advance Amount. The minimum amount of any credit advance that can be made on Borrower’s Credit Line is $100.00.
Line Account. If Bxxxxxxx exceeds Bxxxxxxx's Credit Limit, Bxxxxxxx agrees to repay immediately the amount by which Bxxxxxxx's Credit Line Account exceeds Borrower's Credit Limit, even if Lxxxxx has not yet billed Borrower.
Line Account. The Bank shall maintain on its books a record of account in which the Bank shall make entries for each Advance and such other debits and credits as shall be appropriate in connection with the Line of Credit (the “Line Account”). The Bank shall provide the Borrower with a statement of the Borrower’s Line Account, which statement shall be considered to be correct and conclusively binding on the Borrower unless the Borrower notifies the Bank to the contrary within 90 days after the Borrower’s receipt of any such statement which it deems to be incorrect. 2.4 CREDIT AMOUNT 2.4.1 The Credit Amount. The Bank shall not be obligated to make any Extension of Credit hereunder if, after giving effect to such Extension of Credit: (i) The aggregate amount of all Obligations would exceed the Credit Limit, (ii) The aggregate amount of the Letter of Credit Obligations would exceed the Credit Limit. (iii) The aggregate amount of all Trade Advances would exceed the Credit Limit. (iv) The aggregate amount of Working Capital Advances would exceed $2,000,000.00. 2.4.2
