Common use of Repayment of the Loan; Evidence of Debt Clause in Contracts

Repayment of the Loan; Evidence of Debt. (a) To the extent not previously paid, any unpaid portion of the Loan, together with all accrued and unpaid interest thereon, shall be paid in full in cash by the Borrower on the Maturity Date, without premium or penalty. (b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from the Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. (c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of the Loan made hereunder, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. (d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall, absent manifest error, be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loan in accordance with the terms of this Agreement.

Appears in 4 contracts

Samples: Interim Credit Agreement (Sara Lee Corp), Interim Loan Agreement (Sara Lee Corp), Interim Loan Agreement (D.E Master Blenders 1753 B.V.)

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