Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of the Borrowers (the “Loan Account”) on which the Borrowers will be charged with all Loans made by the Lenders (or Agent on behalf thereof) to the Borrowers or for any Borrower’s account, the Letters of Credit issued by Issuing Lender for any Borrower’s account, and with all other payment Obligations hereunder or under the other Loan Documents, including, accrued interest, fees and expenses. Agent shall render statements regarding the Loan Account to the 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 the Borrowers and Agent unless, within 30 days after receipt thereof by the Administrative Borrower, the Administrative Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.
Appears in 3 contracts
Samples: Loan and Security Agreement (FS Credit Real Estate Income Trust, Inc.), Loan and Security Agreement (FS Credit Real Estate Income Trust, Inc.), Loan and Security Agreement (FS Credit Real Estate Income Trust, Inc.)
Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of the Borrowers Borrower (the “Loan Account”) on which the Borrowers Borrower will be charged with all Loans made by the Lenders (or Agent on behalf thereof) to the Borrowers Borrower or for any Borrower’s account, the Letters of Credit issued by Issuing Lender Bank for any 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). Agent shall render statements regarding the Loan Account to the 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 the Borrowers Borrower and Agent unless, within 30 days after receipt thereof by the Administrative Borrower, the Administrative Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.
Appears in 3 contracts
Samples: Credit Agreement (JMP Group LLC), Credit Agreement (JMP Group LLC), Credit Agreement (JMP Group Inc.)
Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of the Borrowers Borrower (the “Loan Account”) on which the Borrowers Borrower will be charged with all Loans Advances (including Agent Advances) made by Agent or the Lenders (or Agent on behalf thereof) to the Borrowers Borrower or for any Borrower’s account, the Letters of Credit issued by Issuing Lender for any 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 Group Expenses. In accordance with Section 2.7, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower’s account. Agent shall render statements regarding the Loan Account to the 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 Borrower and the Borrowers and Agent Lender Group unless, within 30 days after receipt thereof by the Administrative Borrower, the Administrative Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.
Appears in 1 contract
Samples: Loan and Security Agreement (Hercules Capital, Inc.)
Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of the Borrowers Xxxxxxxx (the “Loan Account”) on which the Borrowers Borrower will be charged with all Loans made by the Lenders (or Agent on behalf thereof) to the Borrowers Borrower or for any BorrowerXxxxxxxx’s accountaccount and all interest, the Letters of Credit issued by Issuing Lender for any Borrower’s accountfees, and with all other payment Obligations expenses (in each case, as and when payable hereunder or under the other Loan Documents, including, accrued interest, fees and expensesDocuments (which shall exclude Bank Product Obligations)). Agent shall render statements regarding the Loan Account to the Administrative Borrower, including principal, interest, fees, and including an itemization of all expenses owing, and and, subject to the entries in the Register, which shall be controlling absent manifest error, such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between the Borrowers Borrower and Agent unless, within 30 90 days after receipt thereof by the Administrative Borrower, the Administrative Borrower Xxxxxxxx shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.
Appears in 1 contract
Samples: Credit Agreement (Ares Commercial Real Estate Corp)
Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of the Borrowers Borrower (the “Loan Account”) on which the Borrowers Borrower will be charged with all Loans made by the Lenders (or Agent on behalf thereof) to the Borrowers Borrower or for any Borrower’s accountaccount and all interest, the Letters of Credit issued by Issuing Lender for any Borrower’s accountfees, and with all other payment Obligations expenses (in each case, as and when payable hereunder or under the other Loan Documents, including, accrued interest, fees and expensesDocuments (which shall exclude Bank Product Obligations)). Agent shall render statements regarding the Loan Account to the Administrative Borrower, including principal, interest, fees, and including an itemization of all expenses owing, and and, subject to the entries in the Register, which shall be controlling absent manifest error, such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between the Borrowers Borrower and Agent unless, within 30 90 days after receipt thereof by the Administrative Borrower, the Administrative Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.
Appears in 1 contract
Samples: Credit Agreement (Ares Commercial Real Estate Corp)
Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of the Borrowers (the “"Loan Account”") on which the Borrowers will be charged with all Loans made by the Lenders (or Agent on behalf thereof) to the Borrowers or for any Borrower’s account, the Letters of Credit issued by Issuing Lender for any Borrower’s accountTerm Loan, and with all other payment Obligations hereunder or under the other Loan Documents, Documents including, accrued interest, fees and expenses, and 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 Agent shall render statements regarding the Loan Account to the 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 the Borrowers and Agent the Lender Group unless, within 30 days after receipt thereof by the Administrative Borrower, the Administrative Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.
Appears in 1 contract
Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of the Borrowers Xxxxxxxx (the “Loan Account”) on which the Borrowers Borrower will be charged with all Loans made by the Lenders (or Agent on behalf thereof) to the Borrowers Borrower or for any BorrowerXxxxxxxx’s accountaccount and all interest, the Letters of Credit issued by Issuing Lender for any Borrower’s accountfees, and with all other payment Obligations expenses (in each case, as and when payable hereunder or under the other Loan Documents, including, accrued interest, fees and expensesDocuments (which shall exclude Bank Product Obligations)). Agent shall render statements regarding the Loan Account to the Administrative Borrower, including principal, interest, fees, and including an itemization of all expenses owing, and and, subject to the entries in the Register, which shall be controlling absent manifest error, such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between the Borrowers Borrower and Agent unless, within 30 90 days after receipt thereof by the Administrative Borrower, the Administrative Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.
Appears in 1 contract
Samples: Credit Agreement (Ares Commercial Real Estate Corp)
Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of the Borrowers Borrower (the “Loan Account”) on which the Borrowers Borrower will be charged with all Loans made by the Lenders (or Agent on behalf thereof) to the Borrowers Borrower or for any Borrower’s accountaccount and all interest, the Letters of Credit issued by Issuing Lender for any Borrower’s accountfees, and with all other payment Obligations expenses (in each case, as and when payable hereunder or under the other Loan Documents, including, accrued interest, fees and expenses). Agent shall render statements regarding the Loan Account to the Administrative Borrower, including principal, interest, fees, and including an itemization of all expenses owing, and and, subject to the entries in the Register, which shall be controlling absent manifest error, such statements shall be conclusively presumed to be correct and accurate (absent manifest error) and constitute an account stated between the Borrowers Borrower and Agent unless, within 30 90 days after receipt thereof by the Administrative Borrower, the Administrative Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.
Appears in 1 contract
Samples: Credit Agreement (Ares Commercial Real Estate Corp)