Common use of MONTHLY LOAN ACTIVITY ACCOUNTINGS Clause in Contracts

MONTHLY LOAN ACTIVITY ACCOUNTINGS. Bank will provide Borrower monthly with a statement of advances, charges and payments made pursuant to this Agreement, and such account rendered by Bank shall be prima facie evidence of the amount of the Obligations owing and unpaid by Borrower and shall be deemed to be an account stated and binding as against Borrower unless a written statement of Borrower’s or Bank’s exceptions is received by the other within 30 days after the statement is mailed to Borrower; however, Bank will have no obligation to correct any error or errors specified by Borrower unless Bank, in its discretion exercised in a commercially reasonable manner, believes that an error was made. If any error is a manifest error, Borrower or Bank shall have one year to raise the exception.

MONTHLY LOAN ACTIVITY ACCOUNTINGS. Bank will provide Borrower monthly with a statement of advances, charges and payments made pursuant to this Agreement, and such account rendered by Bank shall be prima facie conclusive evidence of the amount of the Obligations owing and unpaid by Borrower and shall be deemed to be an account stated and binding as against Borrower unless a written statement of Borrower’s or Bank’s exceptions is received by the other within 30 days after the statement is mailed to Borrower; however, Bank will have no obligation to correct any error or errors specified by Borrower unless Bank, in its discretion exercised in a commercially reasonable manner, believes that an error was made. If any error is a manifest error, Borrower or Bank shall have one year to raise the exception.

MONTHLY LOAN ACTIVITY ACCOUNTINGS. Bank will provide Borrower monthly Borrowers with a statement of advances, charges and payments made pursuant to this AgreementAgreement in accordance with Bank’s normal practices, and such account rendered by Bank shall be prima facie evidence of the amount of the Obligations owing and unpaid by Borrower Borrowers and shall be deemed to be an account stated and binding as against Borrower Borrowers unless a written statement of Borrower’s Borrowers’ or Bank’s exceptions is received by the other within 30 days after the statement is mailed to BorrowerBorrowers; however, Bank will have no obligation to correct any error or errors specified by Borrower Borrowers unless Bank, in its discretion exercised in a commercially reasonable manner, believes that an error was made. If any error is a manifest error, Borrower Borrowers or Bank shall have one year to raise the exception.