Noteless Agreement Sample Clauses

Noteless Agreement. No promissory notes shall evidence the payment obligations of any Advances of Borrowers to any Lender. Each Lender shall maintain in accordance with its usual practice an account or accounts on its books evidencing the obligations of Borrowers resulting from each Advance made by such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender hereunder. The entries maintained in said accounts shall be prima facie evidence of the existence and amounts of the Advances made by each Lender and the payment obligations of Borrowers; provided, however, that the failure of a Lender to maintain such accounts or any error therein shall not in any manner affect the obligation of Borrowers to repay the Advances.

Noteless Agreement. (a) No promissory notes shall evidence the payment obligations of any Loans to Borrower. Administrative Agent shall maintain in accordance with its usual practice an account or accounts on its books evidencing the obligations of Borrower resulting from the Loans made from time to time, including the amounts of principal and interest payable and paid to Lender hereunder. The entries maintained in said accounts shall be prima facie evidence of the existence and amounts of the Loans and the payment obligations of Borrower; provided, however, that the failure of Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of Borrower to repay the Loans. (b) Administrative Agent, acting solely for this purpose as a non-fiduciary agent on behalf of Borrower, agrees to record the Commitments and Loans on the Register. Once recorded on the Register, no Commitment or Loan may be removed from the Register so long as it remains outstanding.

Noteless Agreement. Evidence of Indebtedness ·············································· 23

Noteless Agreement. (a) No promissory notes shall be required to evidence the payment obligations of any Loans; provided that, nothing herein shall prohibit a Lender from requesting a promissory note from Borrowers and, upon any such request, Borrowers shall provide such Lender with a promissory note in an amount equal to such Lender’s Commitment and otherwise in form and substance reasonably satisfactory to such Lender. Administrative Agent shall maintain in accordance with its usual practice an account or accounts on its books evidencing the obligations of Borrowers resulting from the Loans, including the amounts of principal and interest payable and paid to Lender hereunder. Absent manifest error, entries maintained in said accounts shall be prima facie evidence of the existence and amounts of the Loans and the payment obligations of Borrowers; provided, however, that the failure of Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of Borrowers to repay the Loans. (b) Administrative Agent, acting solely for this purpose as a non-fiduciary agent on behalf of Borrowers, agrees to record the Commitments and Loans on the Register. Once recorded on the Register, no Commitment or Loan may be removed from the Register so long as it remains outstanding, absent manifest error.