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”) in which will be recorded all Advances made by Lender to Borrowers or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, and all other payment Obligations hereunder or under the other Loan Documents, including accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.5, the Loan Account will be credited with all payments received by Lender from Borrowers or for Borrowers’ account. All monthly statements delivered by Lender to the Borrowers regarding the Loan Account, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers and Lender unless, within 30 days after receipt thereof by Borrowers, Borrowers shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Credit and Security Agreement (Integrated Electrical Services Inc), Credit and Security Agreement (Startek 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") in on which Borrower will be recorded charged with all Advances made by Lender to Borrowers Borrower or for Borrowers’ Borrower's account, the Letters of Credit issued or arranged by Lender for Borrowers’ Borrower's account, and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower's account. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers 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 (Peninsula Gaming Corp), Loan and Security Agreement (Peninsula Gaming Co LLC)

Maintenance of Loan Account; Statements of Obligations. The Lender shall maintain an account on its books in the name of Borrowers Borrower (the “Loan Account”) in on which Borrower will be recorded charged with all Advances made by the Lender to Borrowers Borrower or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ Borrower’s account, and with all other payment Obligations hereunder or under the other Loan Documentshereunder, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by the Lender from Borrowers Borrower or for Borrowers’ Borrower’s account. All monthly The Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, shall be subject to subsequent adjustment by Lender but shalland such statements, absent manifest error, shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and the Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers Borrower shall deliver to the Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Unsecured Subordinated Loan Agreement (Midway Games Inc), Unsecured Loan Agreement (Midway Games 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”) in on which Borrower will be recorded charged with all Advances and Standby Letters of Credit made or issued by Lender to Borrowers Borrower or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ Borrower’s account, and with all other payment Obligations (except for Bank Product Obligations) hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.11, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower’s account. All Lender shall render monthly statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, shall be subject to subsequent adjustment by Lender but shalland such statements, absent manifest error, shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Revolving Loan and Security Agreement (Reis, Inc.), Loan and Security Agreement (Reis, 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") in on which Borrower will be recorded charged with all Advances and the Term Loan made by Lender to Borrowers Borrower or for Borrowers’ Borrower's account, the Letters of Credit issued or arranged by including, accrued interest, Lender for Borrowers’ accountExpenses, and all any other payment Obligations hereunder or under the other Loan Documents, including accrued interest, fees and expenses, and Lender Expensesof Borrower. In accordance with Section 2.4 and Section 2.52.7, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower's account, including all amounts received in the Lender Account from the Concentration Account Bank. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statementsstatement.

Appears in 1 contract

Samples: Loan and Security Agreement (Graff Pay Per View Inc /De/)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers (the "Loan Account") in on which Borrowers will be recorded charged with all Advances made by Lender to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by Lender for Borrowers' account, and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers or for Borrowers' account. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrowers, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers and Lender unless, within 30 days after the later of (i) receipt thereof by Borrowers or (ii) receipt of documentation requested by Borrowers within 30 days of receipt of the statement by Borrowers, Borrowers shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan Agreement (Arg Property Management Corp)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers Borrower (the “Loan Account”) in on which Borrower will be recorded charged with the Phase 1 Loan and the Phase 2 Loan, respectively, all Advances made by Lender to Borrowers Borrower or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, Borrower’s account and with all other payment Obligations hereunder or under the other Loan Documents, including including, without limitation, any and all accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.5, the The Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower’s account. All monthly Lender shall render, upon request, statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, shall be subject to subsequent adjustment by Lender but shalland such statements, absent manifest error, shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers 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 (Blow & Drive Interlock Corp)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers Borrower (the "Loan Account") in on which Borrower will be recorded charged with all Advances made by Lender to Borrowers Borrower or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ Borrower's account, and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.7, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower's account, including all amounts received in the Lender's Account from any Cash Management Bank. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 thirty (30) days after receipt thereof by BorrowersBorrower, Borrowers 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 (Equifin Inc)

Maintenance of Loan Account; Statements of Obligations. The Lender shall maintain an account on its books in the name of Borrowers (the “Loan Account”) in on which Borrowers will be recorded charged with the Term Loan, all Advances made by the Lender to Borrowers or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by the Lender from Borrowers or for Borrowers’ account. All monthly The Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Administrative Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, shall be subject to subsequent adjustment by Lender but shalland such statements, absent manifest error, shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers and the Lender unless, within 30 days after receipt thereof by BorrowersAdministrative Borrower, Borrowers Administrative Borrower shall deliver to the Lender written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Midway Games 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") in on which Borrower will be recorded charged with all Advances made by Lender to Borrowers Borrower or for Borrowers’ Borrower's account, the Letters of Credit L/C's issued or arranged by Lender for Borrowers’ Borrower's account, and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower's account, including all amounts received in Lender's Account from any Cash Management Bank. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers 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 (Mikohn Gaming Corp)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers Borrower (the "Loan Account") in on which Borrower will be recorded charged with all Advances and the Term Loans made by Lender to Borrowers Borrower or for Borrowers’ Borrower's account, the Letters of Credit issued or arranged by including, accrued interest, Lender for Borrowers’ accountExpenses, and all any other payment Obligations hereunder or under the other Loan Documents, including accrued interest, fees and expenses, and Lender Expensesof Borrower. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower's account, including all amounts received in the Lender Account from the Concentration Account Bank. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 forty-five (45) days after receipt thereof by BorrowersBorrower, Borrowers 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 (Vista Eyecare 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”) in on which Borrower will be recorded charged with all 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’ Borrower’s account, and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower’s account, including all amounts received in the Concentration Account from any Cash Management Bank. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and the Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers 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 (Bidz.com, 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") in on which Borrower will be recorded all Advances made by Lender to Borrowers or for Borrowers’ account, charged with the Letters of Credit issued or arranged by Lender for Borrowers’ account, Term Loans and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower's account, including all amounts received in the Lender's Account from any Account Control Bank. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers 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 (Vitalworks 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”) in on which Borrower will be recorded charged with all Advances made by Lender to Borrowers Borrower or for Borrowers’ Borrower’s account, the Letters of Credit issued or arranged by Lender for Borrowers’ Borrower’s account, and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.6, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower’s account. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, shall be subject to subsequent adjustment by Lender but shalland such statements, absent manifest error, shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 60 days after receipt thereof by BorrowersBorrower, Borrowers 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 (Scheib Earl Inc)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers (the “Loan Account”) in on which Borrowers will be recorded charged with all Advances made by Lender to Borrowers or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers or for Borrowers’ account. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Administrative Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers and Lender unless, within 30 days after receipt thereof by BorrowersAdministrative Borrower, Borrowers 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 (Old Evangeline Downs Capital Corp)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers Borrower (the “Loan Account”) in on which Borrower will be recorded charged with all Advances Loans made by Lender to Borrowers Borrower or for Borrowers’ Borrower’s account, the Letters of Credit issued or arranged by Lender for Borrowers’ Borrower’s account, and with all other payment Obligations (except for Bank Product Obligations), including all accrued interest, fees and expenses (in each case, as and when payable hereunder or under the other Loan Documents, including accrued interest, fees and expenses, and ). Lender Expenses. In accordance with Section 2.4 and Section 2.5, shall render statements regarding the Loan Account will be credited with all payments received by Lender from Borrowers or for Borrowers’ account. All monthly statements delivered by Lender to the Borrowers regarding the Loan AccountBorrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between Borrowers Borrower and Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers 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 (JMP Group 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") in on which Borrower will be recorded charged with the Term Loan, all Advances made by Lender to Borrowers Borrower or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ Borrower's account, and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower's account, including all amounts received in the Lender's Account from any Cash Management Bank. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements.. -28-

Appears in 1 contract

Samples: Loan and Security Agreement (Qad 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") in on which Borrower will be recorded charged with Term Loan A, all Acquisition Line Advances made by Lender to Borrowers or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower's account, including all amounts received in the Lender's Account from any Account Control Bank. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers 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 (Vitalworks 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") in on which Borrower will be recorded charged with all Advances made by Lender to Borrowers Borrower or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, Borrower's account and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower's account, including all amounts received in the Lender's Account from any Cash Management Bank. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers 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 (I Link 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") in on which Borrower will be recorded charged with all Advances made by Lender to Borrowers Borrower or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ Borrower's account, and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower's account. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 45 days after receipt thereof by BorrowersBorrower, Borrowers 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 (New World Restaurant 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 Borrower (the “Loan Account”) in on which Borrower will be recorded charged with all Advances made by Lender to Borrowers Borrower or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ Borrower’s account, and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.7, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower’s account, including all amounts received in the Lender’s Account from any Cash Management Bank. All Lender shall render monthly statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, shall be subject to subsequent adjustment by Lender but shalland such statements, absent manifest error, shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers 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 (Marlin Business 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") in on which Borrowers will be recorded charged with all Advances made by Lender to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by Lender for Borrowers' account, and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers or for Borrowers' account. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Administrative Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers and Lender unless, within 30 days after receipt thereof by BorrowersAdministrative Borrower, Borrowers 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 (Peninsula Gaming Corp)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers Borrower (the "Loan Account") in on which Borrower will be recorded all charged with Advances made by Lender to Borrowers or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower's account. All monthly Upon request by Borrower, Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers Borrower shall deliver to Lender written objection thereto describing the error or errors contained in any such statements. 2.11 [INTENTIONALLY OMITTED].

Appears in 1 contract

Samples: Loan and Security Agreement (I2 Technologies 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”) in on which will Borrower shall be recorded charged with all Advances made by Lender to Borrowers Borrower or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ Borrower’s account, and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.7, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower’s account, including all amounts received in the Lender’s Account from the Collection Account. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an a reasonably detailed itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be prima facie evidence thereof, subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers and Lender unless, within objection as described below. Within 30 days after receipt thereof by BorrowersBorrower, Borrowers 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 (Fortegra Financial Corp)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers Borrower (the “Loan Account”) in on which Borrower will be recorded charged with all Advances made by Lender to Borrowers Borrower or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, Borrower’s account and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower’s account, including all amounts received in the Lender’s Account from any Cash Management Bank. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers 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 (Acceris Communications 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") in on which Borrower will be recorded charged with all 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’ Borrower's account, and with all other payment Obligations hereunder or under the other Loan DocumentsDocuments (except for Bank Product Obligations), including including, accrued interest, fees and expenses, and Lender Group Expenses. In accordance with Section 2.4 and Section 2.5SECTION 2.8, the Loan Account will be credited with all payments received by Lender Agent from Borrowers Borrower or for Borrowers’ Borrower's account, including all amounts received in the Agent's Account from the Cash Management Bank. All monthly Agent shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and the Lender Group unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers 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 (HPSC 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") in on which Borrower will be recorded all Advances charged with the Term Loan made by Lender to Borrowers Borrower or for Borrowers’ Borrower's account, the Letters of Credit issued or arranged by including, accrued interest, Lender for Borrowers’ accountExpenses, and all any other payment Obligations hereunder or under the other Loan Documents, including accrued interest, fees and expenses, and Lender Expensesof Borrower. In accordance with Section 2.4 and Section 2.5, the The Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower's account, including all amounts received in the Lender Account from the Concentration Account Bank. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers 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 (Graphix Zone Inc /De/)

Maintenance of Loan Account; Statements of Obligations. Lender Bank shall maintain an account on its books in the name of Borrowers Borrower (the "Loan Account") in on which Borrower will be recorded charged with all Advances made by Lender Bank to Borrowers Borrower or for Borrowers’ Borrower's account, the Letters amounts Borrower is obligated to pay to Bank upon a draw under a Letter of Credit issued or arranged by Lender for Borrowers’ accountCredit, Term Loan A and all other payment Obligations hereunder or under the other Term Loan Documents, including accrued interest, fees and expenses, and Lender Expenses. B. In accordance with Section 2.4 Sections 2.2(a), 2.2(b), 2.3(c) and Section 2.5, the Loan Account will be credited with all payments received by Lender Bank from Borrowers Borrower or for Borrowers’ Borrower's account. All monthly Bank shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Bank Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender Bank unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers Borrower shall deliver to Lender Bank written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (California Amplifier 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”) in on which Borrower will be recorded charged with all Advances made by Lender to Borrowers or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ account, and all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower’s account, including all amounts received in the Lender’s Account from any Cash Management Bank. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, shall be subject to subsequent adjustment by Lender but shalland such statements, absent manifest error, shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Lender unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers 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 (Freshpet, Inc.)

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") in on which Borrowers will be recorded charged with the Term Loan, all Protective Advances made by Lender to Borrowers or for Borrowers’ account, the Letters of Credit issued or arranged by Lender for Borrowers’ ' account, and with all other payment Obligations hereunder or under the other Loan Documents, including including, accrued interest, fees and expenses, and Lender Expenses. In accordance with Section 2.4 and Section 2.5SECTION 2.6, the Loan Account will be credited with all payments received by Lender from Borrowers or for Borrowers' account. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Administrative Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, shall be subject to subsequent adjustment by Lender but shalland such statements, absent manifest error, shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers and the Lender unless, within 30 days after receipt thereof by BorrowersAdministrative Borrower, Borrowers 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 (WHX Corp)

Maintenance of Loan Account; Statements of Obligations. Lender shall maintain an account on its books in the name of Borrowers (the "Loan Account") in on which Borrowers will be recorded charged with all Advances and the Term Loans made by Lender to Borrowers or for Borrowers' account, the Letters of Credit issued or arranged by including, accrued interest, Lender for Borrowers’ accountExpenses, and all any other payment Obligations hereunder or under the other Loan Documents, including accrued interest, fees and expenses, and Lender Expensesof Borrowers. In accordance with Section 2.4 and Section 2.52.8, 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 Account from the Concentration Account Bank. All monthly Lender shall render statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrowers, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers and Lender unless, within 30 forty-five (45) days after receipt thereof by Borrowers, Borrowers 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 (Vista Eyecare 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”) in on which Borrower will be recorded charged with all Advances made by Lender to Borrowers Borrower or for Borrowers’ Borrower’s account, the Letters of Credit issued or arranged by Lender for Borrowers’ Borrower’s account, 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 2.4 and Section 2.52.8, the Loan Account will be credited with all payments received by Lender from Borrowers Borrower or for Borrowers’ Borrower’s account, including all amounts received in the Lender’s Account from any Cash Management Bank. All Lender shall render monthly statements delivered by Lender to the Borrowers regarding the Loan AccountAccount to Borrower, including with respect to principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be subject to subsequent adjustment by Lender but shall, absent manifest error, be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers and Lender absent manifest error unless, within 30 days after receipt thereof by BorrowersBorrower, Borrowers 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 (RMH Teleservices Inc)

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