Common use of Maintenance of Loan Account; Statements of Obligations Clause in Contracts

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers (the “Loan Account”) on which Borrowers will be charged with all Revolving Loans made by Lender to Borrowers or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and all other payment Obligations hereunder or under the other Loan Documents, and all interest, fees, and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents). Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower and Lender unless, within thirty (30) days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 3 contracts

Samples: Credit Agreement (Silvercrest Asset Management Group Inc.), Credit Agreement (Silvercrest Asset Management Group Inc.), Credit Agreement (Silvercrest Asset Management Group Inc.)

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Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers each Borrower (the "Loan Account," and, collectively, the "Loan Accounts") on which Borrowers the applicable Borrower will be charged with all Revolving Loans Advances made by Lender to Borrowers such Borrower or for Borrowers’ such Borrower's account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ such Borrower's account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan Documents, and all including, accrued interest, feesfees and expenses, and expenses in respect thereof (in Lender Expenses. In accordance with Section 2.8, the Loan Account of each case, as and when payable hereunder Borrower will be credited with all payments received by Lender from such Borrower or under the other Loan Documents)for such Borrower's account. Lender shall render monthly statements regarding the each Borrower's Loan Account to Administrative the applicable Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and Lender unless, within thirty (30) 30 days after receipt thereof by Administrative the applicable Borrower, Administrative such Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Loan and Security Agreement (Majestic Investor Capital Corp), Loan and Security Agreement (Majestic Investor Capital Corp)

Maintenance of Loan Account; Statements of Obligations. Lender Agent shall maintain an account on its books in the name of Borrowers Borrower (the "Loan Account") on which Borrowers Borrower will be charged with all Revolving Loans Advances (including Agent Advances and Swing Loans) made by Lender Agent, Swing Lender, or the Lenders to Borrowers Borrower or for Borrowers’ Borrower's account, the Letters of Credit issued or arranged by Issuing Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ Borrower's account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan Documents, and all including, accrued interest, feesfees and expenses, and expenses Lender Group Expenses. In accordance with Section 2.8, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower's account, including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Agent's Account from any Cash Management Bank. Lender Agent shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements statements, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower and the Lender Group unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Loan and Security Agreement (Hudson Respiratory Care Inc), Loan, Guaranty and Security Agreement (Payless Shoesource Inc /De/)

Maintenance of Loan Account; Statements of Obligations. Lender Administrative Agent shall maintain an account on its books in the name of Borrowers Borrower (the “Loan Account”) on which Borrowers Borrower will be charged with all Revolving Loans Advances (including Protective Advances and Swing Loans) made by Lender Administrative Agent, Swing Lender, or the Lenders to Borrowers Borrower or for Borrowers’ Borrower’s account, the Letters of Credit issued or arranged made by Issuing Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ Borrower’s account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including, accrued interest, fees and expenses, and Lender Group Expenses. In accordance with Section 2.7, the Loan Account will be credited with all interest, fees, and expenses in respect thereof (in each case, as and when payable hereunder payments received by Administrative Agent from Borrower or under the other Loan Documents)for Borrower’s account. Lender Administrative Agent shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements statements, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower and the Lender Group unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender the Administrative Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Credit Agreement (Watsco Inc), Credit Agreement (Watsco Inc)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers (the "Loan Account") on which Borrowers will be charged with all Revolving Loans Advances made by Lender to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ ' account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), and all including, accrued interest, fees, and expenses in respect thereof (in each caseLender Expenses. In accordance with Section 2.8, as and when payable hereunder or under the other Loan Documents). Lender shall render monthly statements regarding the Loan Account will be credited with all payments received by Lender from Borrowers or for Borrowers' account, including all amounts received in the Lender's Account from any Cash Management Bank. Lender shall, within 20 days after the close of each calendar month, render to Administrative BorrowerBorrower statements regarding all activities in the Loan Account during such month, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements statements, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and Lender unless, within thirty (30) 60 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Loan and Security Agreement (Seitel Inc), Loan and Security Agreement (Seitel Inc)

Maintenance of Loan Account; Statements of Obligations. Lender Agent shall maintain an account on its books in the name of Borrowers (the “Loan Account”"LOAN ACCOUNT") on which Borrowers will be charged with the Term Loan, all Revolving Loans Advances (including Agent Advances and Swing Loans) made by Lender Agent, Swing Lender, or the Lenders to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by Issuing Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ ' account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including, accrued interest, fees and expenses, and Lender Group Expenses. In accordance with SECTION 2.8, the Loan Account will be credited with all interestpayments received by Agent from Borrowers or for Borrowers' account, fees, and expenses including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Agent's Account from any Cash Management Bank. Lender Agent shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements statements, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and the Lender Group unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Loan and Security Agreement (Evergreen International Aviation Inc), Loan and Security Agreement (Midway Games Inc)

Maintenance of Loan Account; Statements of Obligations. Lender Agent shall maintain an account accounts on its books in the name of the U.S. Borrowers (the “U.S. Loan Account”) and the Foreign Borrowers (the “Foreign Loan Account” and together with the U.S. Loan Account, the “Loan Accounts”) on which the U.S. Borrowers and the Foreign Borrowers will be charged with all Revolving Loans applicable U.S. Advances and Foreign Advances (including Protective Advances and Swing Loans) made by Lender Agent, Swing Lender, or the Lenders to Borrowers Administrative Borrower or for Borrowers’ any applicable Borrower’s account, the Letters of Credit issued or arranged made by Issuing Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ any applicable Borrower’s account, and with all interest, fees and expenses in respect thereof (in each case, as and when payable other payment Obligations outstanding hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including, accrued interest, fees and all other payment Obligations hereunder or under the other Loan Documentsexpenses, and Lender Group Expenses. In accordance with Section 2.7, the applicable Loan Account will be credited with all interest, fees, and expenses in respect thereof (in each case, as and when payable hereunder payments received by Agent from any applicable Borrower or under the other Loan Documents)for any Borrower’s account. Lender Agent shall render monthly statements regarding the Loan Account Accounts to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements statements, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower the Borrowers and the Lender Group unless, within thirty (30) 30 days after receipt thereof by U.S. Administrative Borrower, U.S. Administrative Borrower shall deliver to Lender Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Credit Agreement (Stream Global Services, Inc.), Credit Agreement (Stream Global Services, Inc.)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers Borrower (the “Loan Account”) on which Borrowers Borrower will be charged with all Revolving Loans Advances made by Lender to Borrowers Borrower or for Borrowers’ Borrower’s account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ Borrower’s account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.7, the Loan Account will be credited with all interestpayments received by Lender from Borrower or for Borrower’s account, fees, and expenses including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Lender’s Account from any Cash Management Bank. Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an prima facie evidence of the, account stated between each Borrower and Lender unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Loan and Security Agreement (Swank, Inc.), Loan and Security Agreement (Swank, Inc.)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers (the “Loan Account”) on which Borrowers will be charged with all Revolving Loans Advances made by Lender to Borrowers or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), and all including, accrued interest, fees, and expenses in respect thereof (in each caseLender Expenses. In accordance with Section 2.8, as and when payable hereunder or under the other Loan Documents). Lender shall render monthly statements regarding the Loan Account will be credited with all payments received by Lender from Borrowers or for Borrowers’ account, including all amounts received in the Lender’s Account from any Cash Management Bank. Lender shall, within 20 days after the close of each calendar month, render to Administrative BorrowerBorrower statements regarding all activities in the Loan Account during such month, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements statements, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and Lender unless, within thirty (30) 60 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Loan and Security Agreement (Matrix Geophysical, Inc.), Loan and Security Agreement (Seitel Inc)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers Borrower (the "Loan Account") on which Borrowers Borrower will be charged with the Term Loan, all Revolving Loans Advances made by Lender to Borrowers Borrower or for Borrowers’ Borrower's account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ Borrower's account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.8, the Loan Account will be credited with all interestpayments received by Lender from Borrower or for Borrower's account, fees, and expenses including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Lender's Account from any Cash Management Bank. Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower and Lender unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Intervoice Brite Inc)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers (the "Loan Account") on which Borrowers will be charged with the Term Loan A, the Term Loan B, all Revolving Loans Advances made by Lender to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ ' account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan Documents, and all including, accrued interest, feesfees and expenses, and expenses Lender Expenses. In accordance with Section 2.8, the Loan Account will be credited with all payments received by Lender from Borrowers or for Borrowers' account, including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Lender's Account from any Cash Management Bank. Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses, to the extent due and owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and Lender unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Metalico Inc)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers (the "Loan Account") on which Borrowers will be charged with all Revolving Loans Advances made by Lender to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ ' account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.8, the Loan Account will be credited with all interestpayments received by Lender from Borrowers or for Borrowers' account, fees, and expenses including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Lender's Account from any Cash Management Bank. Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements statements, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and Lender unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Cray Inc)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers (the "Loan Account") on which Borrowers will be charged with the Term Loan, all Revolving Loans Advances made by Lender to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ ' account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.8, the Loan Account will be credited with all interestpayments received by Lender from Borrowers or for Borrowers' account, fees, and expenses including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Lender's Account from any Cash Management Bank. Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements statements, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and Lender unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Credit Agreement (Easylink Services Corp)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers (the “Loan Account”"LOAN ACCOUNT") on which Borrowers will be charged with all Revolving Loans Advances made by Lender to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ ' account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan Documents, and all including, accrued interest, feesfees and expenses, and expenses Lender Expenses. In accordance with SECTION 2.8, the Loan Account will be credited with all payments received by Lender from Borrowers or for Borrowers' account, including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Lender's Account from any Cash Management Bank. Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and Lender unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Cyrk Inc)

Maintenance of Loan Account; Statements of Obligations. Lender Agent shall ------------------------------------------------------ maintain an account on its books in the name of Borrowers (the "Loan Account") ------------ on which Borrowers will be charged with all Revolving Loans Advances (including Agent Advances and Swing Loans) made by Lender Agent, Swing Lender, or the Lenders to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by Issuing Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ ' account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan Documents, and all including, accrued interest, feesfees and expenses, and expenses Lender Group Expenses. In accordance with Section 2.8, the Loan Account will be ----------- credited with all payments received by Agent from Borrowers or for Borrowers' account, including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Agent's Account from any Cash Management Bank. Lender Agent shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and the Lender Group unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Cellstar Corp)

Maintenance of Loan Account; Statements of Obligations. Lender Administrative Agent shall maintain an account on its books in the name of Borrowers (the “Loan Account”) on which Borrowers will be charged with the Term Loan and all Revolving Loans (including Protective Revolving Loans and Swing Line Loans) made by Lender Administrative Agent, Swing Line Lender, or the Lenders to Borrowers or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or L/C Issuer for Borrowers’ account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), and all including, accrued interest, feesfees and expenses. In accordance with Section 2.15, and expenses in respect thereof (in each case, as and when payable hereunder the Loan Account will be credited with all payments received by Administrative Agent from Borrowers or under the other Loan Documents)for Borrowers’ account. Lender Administrative Agent shall render monthly statements regarding the Loan Account to Administrative BorrowerBorrower Representative, including principal, interest, fees, and including an itemization of all charges and expenses owing, and such statements statements, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and the Lender Group unless, within thirty (30) 30 days after receipt thereof by Administrative BorrowerBorrower Representative, Administrative Borrower Representative shall deliver to Lender Administrative Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Credit Agreement (TRM Corp)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers (the "Loan Account") on which Borrowers will be charged with the Term Loan, all Revolving Loans Advances made by Lender to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ ' account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.8, the Loan Account will be credited with all interestpayments received by Lender from Borrowers or for Borrowers' account, fees, and expenses including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Lender's Account from any Cash Management Bank. Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and Lender unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (SPSS Inc)

Maintenance of Loan Account; Statements of Obligations. Lender Agent shall ------------------------------------------------------ maintain an account on its books in the name of Borrowers Borrower (the "Loan Account") on which Borrowers Borrower will be charged with all Revolving Loans made by Lender to Borrowers or for Borrowers’ accountthe Term Loan A Amount, the Letters of Credit issued or arranged by Lender for Borrowers’ accountTerm Loan B Amount, all the Term Loans made by Lender to Borrowers or for Borrowers’ accountLoan C Amount, and all Advances made by Agent, Swing Lender, or the Lenders to Borrower or for Borrower's account, including, accrued interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Lender Group Expenses, and all any other payment Obligations hereunder Obligations. In accordance with Section 2.8, the Loan ----------- Account will be credited with all payments received by Agent from Borrower or under for Borrower's account, including all amounts received in the other Loan Documents, and all interest, fees, and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Agent's Account from any Lockbox Bank. Lender Agent shall render monthly statements regarding the Loan Account to Administrative BorrowerBorrower (with copies to the Lenders), including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower and the Lender Group unless, within thirty (30) 60 days after receipt thereof by Administrative BorrowerBorrower and the Lenders, Administrative Borrower or any Lender shall deliver to Lender Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (System Software Associates Inc)

Maintenance of Loan Account; Statements of Obligations. Lender Agent shall maintain an account on its books in the name of Borrowers Borrower (the “Loan Account”"LOAN ACCOUNT") on which Borrowers Borrower will be charged with the Term Loans, all Revolving Loans Advances (including Agent Advances and Swing Loans) made by Lender Agent, Swing Lender, or the Lenders to Borrowers Borrower or for Borrowers’ Borrower's account, the Letters of Credit issued or arranged by Issuing Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ Borrower's account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Post-Petition Loan DocumentsDocuments (except for Bank Product Obligations), including, accrued interest, fees and expenses, and Lender Group Expenses. The Agent shall deliver to Borrower detailed records of all interest, fees, fees and expenses charged to the account after entry of such amounts upon Borrower's request. In accordance with SECTION 2.8, the Loan Account will be credited with all payments received by Agent from the Loan Parties or for Borrower's account, including all amounts received in respect thereof (in each casethe Agent's Account from any Cash Management Bank. Upon request of Borrower, as and when payable hereunder or under the other Loan Documents). Lender Agent shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower and the Lender Group unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Archibald Candy Corp)

Maintenance of Loan Account; Statements of Obligations. Lender Agent shall maintain an account on its books in the name of Borrowers (the "Loan Account") on which Borrowers will be charged with the Term Loans, all Revolving Loans Advances (including Agent Advances and Swing Loans) made by Lender Agent, Swing Lender, or the Lenders to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by Issuing Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ ' account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including, accrued interest, fees and expenses, and Lender Group Expenses; provided that, Agent shall maintain a separate sub-account under the Loan Account in the name of each of the Canadian Borrower and the German Borrower on which each such Person will be charged with all interestAdvances (including Agent Advances and Swing Loans) made by Agent, feesSwing Lender, or the Lenders to such Person or for such Person's account, and expenses in respect thereof (in each case, as and when payable with all other payment Obligations of such Person hereunder or under the other Loan Documents), including, accrued interest, fees and expenses, and Lender Group Expenses. Lender In accordance with Section 2.8, the Loan Account will be credited with all payments received by Agent from Borrowers or for Borrowers' account, including all amounts received in the Agent's Account from any Cash Management Bank. Agent shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and the Lender Group unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Numatics Inc)

Maintenance of Loan Account; Statements of Obligations. Lender Agent shall maintain an account accountone or more accounts on its books in the name of the applicable Borrowers (the “Loan Account”) on which thesuch Borrowers will be charged with all Revolving Loans (including Extraordinary Advances and Swing Loans) made by Lender Agent, the Swing Lender, or the Revolving Lenders to thesuch Borrowers or for thesuch Borrowers’ account, the Letters of Credit issued or arranged by Lender any Issuing Bank for Borrowers’ account, all Term Loans made by Lender to Borrowers or for thesuch Borrowers’ account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan Documents, and all including, accrued interest, feesfees and expenses, and expenses in respect thereof (in each caseLender Group Expenses. In accordance with Section 2.7, as and when payable theeach Loan Account will be credited with all payments received by Agent from the applicable Borrowers or for thesuch Borrowers’ account. Agent shall make available to the Borrowers monthly statements regarding the Loan Account,Accounts, including the principal amount of the Revolving Loans, interest accrued hereunder, fees accrued or charged hereunder or under the other Loan Documents). Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an a summary itemization of all charges and expenses owingconstituting Lender Group Expenses accrued hereunder or under the other Loan Documents, and each such statements statement, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower the Borrowers and the Lender Group unless, within thirty (30) 30 days after receipt thereof by Administrative BorrowerAgent first makes such a statement available to the Borrowers, Administrative Borrower the Borrowers shall deliver to Lender Agent written objection thereto describing the error or errors contained in any such statementsstatement.

Appears in 1 contract

Samples: Asset Based Revolving Credit Agreement (Cleveland-Cliffs Inc.)

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Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers Borrower (the “Loan Account”"LOAN ACCOUNT") on which Borrowers Borrower will be charged with with, all Revolving Loans Advances and L/C Advances made by Lender to Borrowers Borrower or for Borrowers’ Borrower's account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ Borrower's account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including, accrued interest, fees and expenses, and Lender Expenses. In accordance with SECTION 2.8, the Loan Account will be credited with all interestpayments received by Lender from Borrower or for Borrower's account, fees, and expenses including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Lender's Account from any Cash Management Bank. Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower and Lender unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (MRS Fields Holding Co Inc)

Maintenance of Loan Account; Statements of Obligations. Lender Agent shall maintain an account on its books in the name of Borrowers (the “Loan Account”) on which Borrowers will shall be charged with all Revolving Loans Advances (including Protective Advances and Swing Loans) made by Lender Agent, Swing Lender, or the Lenders to Borrowers or for Borrowers’ any Borrower’s account, the Letters of Credit issued or arranged by Issuing Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ Borrower’s account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan Documents, and all including, accrued interest, feesfees and expenses, and expenses in respect thereof (in each caseLender Group Expenses. In accordance with Section 2.6, as and when payable hereunder the Loan Account will be credited with all payments received by Agent from Borrowers or under the other Loan Documents)for Borrowers’ account. Lender Agent shall render monthly statements regarding the Loan Account to Administrative BorrowerLoan Party, on behalf of Borrowers, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements statements, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower among Borrowers and the Lender Group unless, within thirty (30) days after receipt thereof by Administrative BorrowerLoan Party, on behalf of Borrowers, Administrative Borrower Loan Party, on behalf of Borrowers, shall deliver to Lender Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Credit Agreement (Avid Technology, Inc.)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers (the “Loan Account”) on which Borrowers will be charged with all Revolving Loans made by Lender to Borrowers or for Borrowers’ account, the Letters of Credit issued or arranged by Lender Xxxxxx for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and all other payment Obligations hereunder or under the other Loan Documents, and all interest, fees, and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents). Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower and Lender unless, within thirty (30) days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Amendment and Restatement Agreement (Silvercrest Asset Management Group Inc.)

Maintenance of Loan Account; Statements of Obligations. Lender Agent shall maintain an a separate account on its books in the name of each of the Borrowers (collectively, the “Loan AccountAccounts”) on which Borrowers each Borrower will be charged with all Revolving Loans its particular Advances (including Agent Advances and Swing Loans) made by Lender Agent, Swing Lender, or the Lenders to Borrowers such Borrower or for Borrowers’ such Borrower’s account, the Letters of Credit issued or arranged by Issuing Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ such Borrower’s account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including, accrued interest, fees and expenses, and Lender Group Expenses. In accordance with Section 2.8, the Loan Accounts will be credited with all interestpayments received by Agent from Borrowers or for Borrowers’ account, feesincluding all amounts received in the Agent’s Account from any Cash Management Bank except, and expenses in respect thereof (in each casethe case of US Borrower, as and when payable hereunder or under such amounts that have been forwarded to US Borrower’s Deposit Account pursuant to the other Loan Documentslast sentence of Section 2.7(b). Lender Agent shall render monthly statements regarding the Loan Account Accounts to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements statements, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower and the Lender Group unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (SMART Modular Technologies (DE), Inc.)

Maintenance of Loan Account; Statements of Obligations. Lender With respect to each Borrower Group, Agent shall maintain an account on its books in the name of Borrowers such Borrower Group (the “each, a "Loan Account") on which Borrowers such Borrower Group will be charged with all Revolving Facility Loans (including Extraordinary Advances and Swing Loans) made by Lender Agent, Swing Lender, or the Lenders to Borrowers or for Borrowers’ accountthe account of such Borrower Group, the Letters of Credit issued or arranged by Lender any Issuing Bank for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ accountthe account of such Borrower Group, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan Documents, and all including, accrued interest, feesfees and expenses, and expenses in respect thereof (in Lender Group Expenses, of such Borrower Group. In accordance with Section 2.7, the Loan Account of a Borrower Group will be credited with all payments received by Agent from or for the account of such Borrower Group. Agent shall make available to Borrowers monthly statements regarding each caseLoan Account, as and when payable including the principal amount of the Facility Loans, interest accrued hereunder, fees accrued or charged hereunder or under the other Loan Documents). Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an a summary itemization of all charges and expenses owingconstituting Lender Group Expenses accrued hereunder or under the other Loan Documents, and each such statements statement, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and the Lender Group unless, within thirty (30) 30 days after receipt thereof by Administrative BorrowerAgent first makes such a statement available to Borrowers, Administrative Borrower Borrowers shall deliver to Lender Agent written objection thereto describing the error or errors contained in any such statementsstatement.

Appears in 1 contract

Samples: Credit Agreement (Weatherford International PLC)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers (the "Loan Account") on which Borrowers will be charged with the Term Loans, all Revolving Loans Advances made by Lender to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ ' account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.8, the Loan Account will be credited with all interestpayments received by Lender from Borrowers or for Borrowers' account, fees, and expenses including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Lender's Account from any Cash Management Bank. Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements statements, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and Lender unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Elxsi Corp /De//)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers Subsidiary Borrower (the "Loan Account") on which Borrowers Subsidiary Borrower will be charged with all Revolving Loans Subsidiary Borrower Advances made by Lender to Borrowers Subsidiary Borrower or for Borrowers’ Subsidiary Borrower's account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ Subsidiary Borrower's account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Subsidiary Loan Documents, and all including, accrued interest, feesfees and expenses, and expenses Lender Expenses. In accordance with Section 2.8, the Loan Account will be credited with all payments received by Lender from Subsidiary Borrower or for Subsidiary Borrower's account, including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Lender's Account from any Cash Management Bank. Lender shall render monthly statements regarding the Loan Account to Administrative Subsidiary Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Subsidiary Borrower and Lender unless, within thirty (30) 30 days after receipt thereof by Administrative Subsidiary Borrower, Administrative Subsidiary Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan Agreement (Futurelink Corp)

Maintenance of Loan Account; Statements of Obligations. Lender Agent shall maintain an account on its books in the name of Borrowers Borrower (the “Loan Account”"LOAN ACCOUNT") on which Borrowers Borrower will be charged with all Revolving Loans Advances (including Protective Advances and Swing Loans) made by Lender Agent, Swing Lender, or the Lenders to Borrowers Borrower or for Borrowers’ Borrower's account, the Letters of Credit issued or arranged by Issuing Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ Borrower's account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including, accrued interest, fees and expenses, and Lender Group Expenses. In accordance with SECTION 2.7, the Loan Account will be credited with all interest, fees, and expenses in respect thereof (in each case, as and when payable hereunder payments received by Agent from Borrower or under the other Loan Documents)for Borrower's account. Lender Agent shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements statements, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower and the Lender Group unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Credit Agreement (Perkins & Marie Callender's Inc)

Maintenance of Loan Account; Statements of Obligations. Lender Agent ------------------------------------------------------ shall maintain an account on its books in the name of Borrowers (the "Loan Account") on which Borrowers will be charged with all Revolving Loans Advances (including Agent Advances and Swing Loans) and the Term A Loan made by Lender Agent, Swing Lender, or the Lenders to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by Issuing Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ ' account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan Documents, and all including, accrued interest, feesfees and expenses, and expenses Lender Group Expenses. In accordance with Section 2.8, the ----------- Loan Account will be credited with all payments received by Agent from Borrowers or for Borrowers' account, including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Agent's Account from any Cash Management Bank. Lender Agent shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and the Lender Group unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender Agent written objection thereto describing the error or errors contained in any such statements. (g) Section 2.13 of the Loan Agreement hereby is amended and restated in ------------ its entirety to read as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Wam Net Inc)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers Borrower (the “Loan Account”) on which Borrowers Borrower will be charged with all Revolving Loans made by Lender to Borrowers or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Delayed Draw Term Loans made by Lender to Borrowers Borrower or for Borrowers’ account, Borrower’s account and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan Documents, and all including, accrued interest, feesfees and expenses, and expenses in respect thereof (in each caseLender Expenses. In accordance with Section 2.7, as and when payable the Loan Account will be credited with all payments received by Lender from Borrower or for Borrower’s account. Lender shall make available to Borrower upon request monthly statements regarding the Loan Account, including the principal amount of the Delayed Draw Term Loans, interest accrued hereunder, fees accrued or charged hereunder or under the other Loan Documents). Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an a summary itemization of all charges and expenses owingconstituting Lender Expenses accrued hereunder or under the other Loan Documents, and each such statements statement, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower and the Lender unless, within thirty (30) 30 days after receipt thereof by Administrative Lender first makes such a statement available to Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statementsstatement.

Appears in 1 contract

Samples: Credit Agreement (Neophotonics Corp)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers (the “Loan Account”"LOAN ACCOUNT") on which Borrowers will be charged with all Revolving Loans Advances made by Lender to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ ' account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan Documents, and all including, accrued interest, feesfees and expenses, and expenses Lender Expenses. In accordance with SECTION 2.7, the Loan Account will be credited with all payments received by Lender from Borrowers or for Borrowers' account, including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Lender's Account from any Cash Management Bank. Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and Lender unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Synavant Inc)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers (the "Loan Account") on which Borrowers will be charged with with, all Revolving Loans Advances made by Lender to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ ' account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.8, the Loan Account will be credited with all interestpayments received by Lender from Borrowers or for Borrowers' account, fees, and expenses including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Lender's Account from any Cash Management Bank. Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements statements, absent manifest error, shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower Borrowers and Lender unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Credit Agreement (Cryolife Inc)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers Borrower (the "Loan Account”) "), on which Borrowers Borrower will be charged with all Revolving Loans Advances made by Lender to Borrowers Borrower or for Borrowers’ Borrower's account, the Letters of Credit issued or arranged by Issuing Lender for Borrowers’ account, all Term Loans made by Lender to Borrowers or for Borrowers’ accountBorrower's Account, and all interest, fees and expenses in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents), and with all other payment Obligations of Borrower hereunder or under the other Loan Documents, and all including, accrued interest, feesfees and expenses, and expenses Lender Expenses. In accordance with Section 2.8, Borrower's Loan Account will be credited with all payments received by Lender from Borrower or for Borrower's account, including all amounts received in respect thereof (in each case, as and when payable hereunder or under the other Loan Documents)Lender's Account from any Cash Management Bank attributable to Borrower. Lender shall render monthly statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between each Borrower and the Lender unless, within thirty (30) 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Paradyne Networks Inc)

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