Common use of Loan Account Clause in Contracts

Loan Account. The Bank shall maintain, in accordance with its usual practice, an account (which shall be the “Account Current” referred to in the Mortgage) evidencing the amounts from time to time lent by, owing to and paid to it under the Security Documents. Such account shall, in the absence of manifest error, be conclusive as to the amount from time to time owing by the Borrower under the Security Documents.

Appears in 7 contracts

Sources: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)

Loan Account. The Bank shall maintain, in accordance with its usual practice, an account (which shall be the “Account Current” referred to in the Mortgage) evidencing the amounts from time to time lent by, owing to and paid to it under the Security Documents. Such account shall, in the absence of manifest error, be conclusive as to the amount from time to time owing by the Borrower under the Security Documents.

Appears in 6 contracts

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.), Facility Agreement (Freeseas Inc.), Facility Agreement (Globus Maritime LTD)

Loan Account. The Bank shall maintain, in accordance with its usual practice, an account (which shall be the “Account Current” referred to in the Mortgage) or accounts evidencing the amounts from time to time lent by, owing to and paid to to, it under the Security Documents. Such account shall be the “account current” referred to in any Mortgage which shall be in a statutory form. Such account shall, in the absence of manifest error, be conclusive as to the amount from time to time owing by the Borrower Borrowers under the Security Documents.

Appears in 4 contracts

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.), Facility Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.)

Loan Account. The Bank shall maintain, in accordance with its usual practice, an account (which shall be the “Account Current” referred to in the Mortgage) evidencing the amounts from time to time lent by, owing to and paid to it under the Security Documents. Such account shall, in the absence of manifest error, be conclusive as to the amount from time to time owing by the Borrower under the Security Documents.

Appears in 3 contracts

Sources: Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (B Plus H Ocean Carriers LTD), Loan Agreement (Navios Maritime Holdings Inc.)

Loan Account. The Bank shall maintain, in accordance with its usual practice, an account (which shall be the “Account Current” referred to in the Mortgage) or accounts evidencing the amounts from time to time lent by, owing to and paid to to, it under the Security Documents. Such account shall be the "account current" referred to in any Mortgage which shall be in a statutory form. Such account shall, in the absence of manifest error, be conclusive as to the amount from time to time owing by the Borrower Borrowers under the Security Documents.

Appears in 2 contracts

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.), Eighth Supplemental Agreement (Aegean Marine Petroleum Network Inc.)

Loan Account. The Bank Lender shall maintain, in accordance with its usual practice, an account (which shall be the “Account Current” referred to in the Mortgage) evidencing the amounts from time to time lent by, owing to and paid to it under the Security Documents. Such account shall, in the absence of manifest error, be conclusive as to prima facie evidence of the amount from time to time owing by the Borrower under the Security Documents.

Appears in 2 contracts

Sources: Facility Agreement for a Term Loan (StealthGas Inc.), Facility Agreement for a Term Loan (StealthGas Inc.)

Loan Account. The Bank shall maintain, in accordance with its usual practice, an account (which shall be being the "Account Current" referred to in the MortgageMortgage and/or the Deed of Covenant) evidencing the amounts from time to time lent by, owing to and paid to it under the Security Documents. Such account shall, in the absence of manifest error, be conclusive as to the amount from time to time owing by the Borrower under the Security Documents.

Appears in 2 contracts

Sources: Loan Agreement (Capital Maritime & Trading Corp.), Loan Agreement (Capital Maritime & Trading Corp.)

Loan Account. The Bank shall maintain, in accordance with its usual practice, an account (which shall be the “Account Current” referred to in the Mortgage) or accounts evidencing the amounts from time to time lent by, owing to and paid to to, it under the Security Documents. Such account shall be the “account current” referred to in the Collateral Mortgage and, if any other Mortgage shall be in a statutory form, also in such other Mortgage. Such account shall, in the absence of manifest error, be conclusive as to the amount from time to time owing by the Borrower Borrowers under the Security Documents.

Appears in 1 contract

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.)

Loan Account. The Bank shall maintain, in accordance with its usual practice, an account or accounts (which which, in the case of S▇▇▇ only, shall be the "Account Current" referred to in the MortgageS▇▇▇ Mortgage and the Deed of Covenant) evidencing the amounts from time to time lent by, owing to and paid to it under the Security Documents. Such account or accounts shall, in the absence of manifest error, be conclusive as to the amount from time to time owing by the Borrower Borrowers under the Security Documents.

Appears in 1 contract

Sources: Facility Agreement (Aegean Marine Petroleum Network Inc.)

Loan Account. The Bank shall maintain, in accordance with its usual practice, an account (which shall be the “Account Current” referred to in the Mortgage) evidencing the amounts from time to time lent by, owing to and paid to it under the Security Documents. Such account shall, in the absence of manifest error, be conclusive as to the amount from time to time owing by the Borrower Borrowers under the Security Documents.

Appears in 1 contract

Sources: Junior Loan Agreement (FreeSeas Inc.)

Loan Account. The Bank shall maintain, in accordance with its usual practice, an account (which shall be the “Account Current” referred to in the Mortgage) or accounts evidencing the amounts from time to time lent by, owing to and paid to to, it under the Security Documents. Such account or accounts shall, in the absence of manifest error, be conclusive as to the amount from time to time owing by the Borrower Borrowers under the Security Documents.. 7 Representations and warranties 7.1 Continuing representations and warranties The Borrowers jointly and severally represent and warrant to the Bank that:

Appears in 1 contract

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.)

Loan Account. The Bank shall maintain, in accordance with its usual practice, an account or accounts (which which, in the case of ▇▇▇▇ only, shall be the "Account Current" referred to in the Mortgage▇▇▇▇ Mortgage and the Deed of Covenant) evidencing the amounts from time to time lent by, owing to and paid to it under the Security Documents. Such account or accounts shall, in the absence of manifest error, be conclusive as to the amount from time to time owing by the Borrower Borrowers under the Security Documents.

Appears in 1 contract

Sources: Second Supplemental Agreement (Aegean Marine Petroleum Network Inc.)

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