Revolving Loan Account. Lender will establish and maintain a loan account on its books (the “Revolving Loan Account”) to which Lender will (a) debit (i) the principal amount of each advance of the Revolving Loan made by Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by Borrowers to Lender from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) credit all payments made by Borrowers to Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Account. Lender may debit the Revolving Loan Account for the amount of any Item of Payment that is returned to Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon Borrowers in all respects, absent manifest error, unless Lender receives specific written objection thereto from Borrowers within thirty (30) Business Days after such statement or reconciliation shall have been sent by Lender.
Appears in 4 contracts
Samples: Financing and Security Agreement (Gp Strategies Corp), Financing and Security Agreement (Gp Strategies Corp), Financing and Security Agreement (Gp Strategies Corp)
Revolving Loan Account. The Lender will establish and maintain a loan account on its books (the “"Revolving Loan Account”") to which the Lender will (a) debit (i) the principal amount of each advance of the Revolving Loan made by the Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by Borrowers the Borrower to the Lender from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) credit all payments made by Borrowers the Borrower to the Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Account. The Lender may debit the Revolving Loan Account for the amount of any Item of Payment that is returned to the Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by the Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon Borrowers the Borrower in all respects, absent manifest error, unless the Lender receives specific written objection thereto from Borrowers the Borrower within thirty (30) Business Days after such statement or reconciliation shall have been sent by the Lender.
Appears in 3 contracts
Samples: Financing and Security Agreement (Halifax Corp), Financing and Security Agreement (Dcap Group Inc/), Financing and Security Agreement (Weston Roy F Inc)
Revolving Loan Account. The Lender will establish and maintain a loan account on its books (the “"Revolving Loan Account”") to which the Lender will (a) debit (i) the principal amount of each advance of the Revolving Loan made by the Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by the Borrowers to the Lender from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) credit all payments made by the Borrowers to the Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Accountmade. The Lender may debit the Revolving Loan Account for the amount of any Item of Payment that is returned to the Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by the Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon the Borrowers in all respects, absent manifest error, unless the Lender receives specific written objection thereto from the Borrowers within thirty (30) Business Days after such statement or reconciliation shall have been sent by the Lender.
Appears in 2 contracts
Samples: Financing Agreement (Argan Inc), Financing and Security Agreement (Argan Inc)
Revolving Loan Account. The Lender will establish and maintain a revolving loan account on its books (the “Revolving Loan Account”) to which the Lender will (ai) debit (iA) the principal amount of each advance of the Revolving Loan Credit Facility Loans made by the Lender hereunder as of the date made, (iiB) the amount of any interest accrued on the Revolving Loan Credit Facility Loans as and when due, and (iiiC) any other amounts due and payable by Borrowers the Borrower to the Lender from time to time under the provisions of this Agreement in connection with the Revolving LoanCredit Facility Loans, includingincluding enforcement costs, without limitation, Enforcement Costs, Feesfees, late charges, and service, collection and audit fees, as and when due and payable, and (bii) credit all payments made by Borrowers the Borrower to the Lender on account of the Revolving Loan Credit Facility Loans as of the date made includingmade, without limitation, including funds credited to the Revolving Loan Account from the Collateral Account. Lender may debit Account (as defined in the Revolving Loan Account for the amount of any Item of Payment that is returned to Lender unpaidSecurity Agreement). All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by the Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be finalpresumed conclusively to be correct, binding and conclusive upon Borrowers in all respects, absent manifest error, shall constitute an account stated between the Lender and the Borrower unless the Lender receives specific written objection thereto from Borrowers the Borrower within thirty (30) Business Days after such statement or reconciliation shall have been sent by the Lender.
Appears in 2 contracts
Samples: Credit Agreement (Analex Corp), Credit Agreement (Analex Corp)
Revolving Loan Account. The Lender will establish and maintain a loan account on its books (the “"Revolving Loan Account”") to which the Lender will (a) debit (i) the principal amount of each advance of the Revolving Loan made by the Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by Borrowers the Borrower to the Lender from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) credit all payments made by Borrowers the Borrower to the Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Account. The Lender may debit the Revolving Loan Account for the amount of any Item of Payment that is returned to the Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by the Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon Borrowers the Borrower in all respects, absent manifest error, unless the Lender receives specific written objection thereto from Borrowers the Borrower within thirty (30) Business Days after such statement or reconciliation shall have been sent received by Lenderthe Borrower.
Appears in 2 contracts
Samples: Financing and Security Agreement (Sensys Technologies Inc), Financing and Security Agreement (Sensytech Inc)
Revolving Loan Account. Lender The Agent will establish and maintain a loan account on its books (the “Revolving Loan Account”) to which Lender the Agent will (a) debit (i) the principal amount of each advance of the Revolving Loan Advance made by Lender the Lenders hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by Borrowers the Borrower to Lender the Agent and/or the Lenders from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) credit all payments made by Borrowers the Borrower to Lender the Agent on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Account. Lender The Agent may debit the Revolving Loan Account for the amount of any Item of Payment that is returned to Lender the Agent unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by Lender the Agent in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon Borrowers the Borrower in all respects, absent manifest error, unless Lender the Agent receives specific written objection thereto from Borrowers the Borrower within thirty (30) Business Days after such statement or reconciliation shall have been sent by Lenderthe Agent.
Appears in 2 contracts
Samples: Financing and Security Agreement (Dcap Group Inc), Financing and Security Agreement (Dcap Group Inc)
Revolving Loan Account. The Lender will establish and maintain a loan account on its books (the “Revolving Loan Account”) to which the Lender will (a) debit (i) the principal amount of each advance of the Revolving Loan made by the Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by the Borrowers to the Lender from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) credit all payments made by the Borrowers to the Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Account. The Lender may debit the Revolving Loan Account for the amount of any Item of Payment that is returned to the Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by the Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon the Borrowers in all respects, absent manifest error, unless the Lender receives specific written objection thereto from Borrowers any Borrower within thirty (30) Business Days after such statement or reconciliation shall have been sent by the Lender.
Appears in 1 contract
Revolving Loan Account. The Lender will establish and maintain a loan account on its books (the “"Revolving Loan Account”") to which the Lender will (a) debit (i) the principal amount of each advance of under the Revolving Loan made by the Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by the Borrowers to the Lender from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) credit all payments made by the Borrowers to the Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Accountmade. The Lender may debit the Revolving Loan Account for the amount of any Item of Payment that is returned to the Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by the Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be finalpresumed to be correct, binding and conclusive upon shall constitute an account stated between the Lender and the Borrowers in all respects, absent manifest error, unless the Lender receives specific written objection thereto from Borrowers within thirty (30) Business Days after such statement or reconciliation shall have been sent by Lender.receives
Appears in 1 contract
Samples: Financing Agreement (Polk Audio Inc)
Revolving Loan Account. The Lender will establish and maintain a loan account on its books (the “Revolving Loan Account”) to which the Lender will (a) debit (i) the principal amount of each advance of the Revolving Loan made by the Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by Borrowers the Borrower to the Lender from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) credit all payments made by Borrowers the Borrower to the Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Account. The Lender may debit the Revolving Loan Account for the amount of any Item of Payment that is returned to the Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by the Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon Borrowers the Borrower in all respects, absent manifest error, unless the Lender receives specific written objection thereto from Borrowers the Borrower within thirty (30) Business Days after such statement or reconciliation shall have been sent received by Lenderthe Borrower.
Appears in 1 contract
Revolving Loan Account. The Lender will establish and maintain a loan account on its books (the “"Revolving Loan Account”") to which the Lender will (a) debit (i) the principal amount of each advance of the Revolving Loan made by the Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by Borrowers the Borrower to the Lender from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, service and collection and audit fees, as and when due and payable, and (b) credit all payments made by Borrowers the Borrower to the Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Accountmade. The Lender may debit the Revolving Loan Account for the amount of any Item of Payment that which is returned to the Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by the Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon Borrowers the Borrower in all respects, absent manifest error, unless the Lender receives specific written objection thereto from Borrowers the Borrower within thirty (30) Business Days after such statement or reconciliation shall have been sent by the Lender.
Appears in 1 contract
Revolving Loan Account. The Lender will establish and maintain a loan account on its books (the “Revolving Loan Account”) to which the Lender will (a) debit (i) the principal amount of each advance of the Revolving Loan made by the Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by the Borrowers to the Lender from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) credit all payments made by the Borrowers to the Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Accountmade. The Lender may debit the Revolving Loan Account for the amount of any Item of Payment that is returned to the Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by the Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon the Borrowers in all respects, absent manifest error, unless the Lender receives specific written objection thereto from the Borrowers within thirty (30) Business Days after such statement or reconciliation shall have been sent by the Lender.
Appears in 1 contract
Revolving Loan Account. The Lender will establish and maintain a loan account on its books (the “Revolving Loan Account”) to which the Lender will (a) debit (i) the principal amount of each advance of the Revolving Loan made by the Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by Borrowers the Borrower to the Lender from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) credit all payments made by Borrowers the Borrower to the Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Accountmade. The Lender may debit the Revolving Loan Account for the amount of any Item of Payment that is returned to the Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by the Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon Borrowers the Borrower in all respects, absent manifest error, unless the Lender receives specific written objection thereto from Borrowers the Borrower within thirty (30) Business Days after such statement or reconciliation shall have been sent by the Lender.
Appears in 1 contract
Samples: Financing and Security Agreement (Pec Solutions Inc)
Revolving Loan Account. Lender will establish and maintain a loan account on its books (the “Revolving Loan Account”) to which Lender will (a) debit (i) the principal amount of each advance of the Revolving Loan made by Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by Borrowers Borrower to Lender from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) credit all payments made by Borrowers Borrower to Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Accountmade. Lender may debit the Revolving Loan Account for the amount of any Item of Payment that is returned to Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon Borrowers Borrower in all respects, absent manifest error, unless Lender receives specific written objection thereto from Borrowers Borrower within thirty (30) Business Days after such statement or reconciliation shall have been sent by Lender.
Appears in 1 contract
Samples: Financing and Security Agreement (Liquidity Services Inc)
Revolving Loan Account. The Lender will establish and maintain a loan account on its books (the “Revolving the"Revolving Loan Account”") to which the Lender will (a) debit (i) the principal amount of each advance of under the Revolving Loan made by the Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by Borrowers the Borrower to the Lender from time to time under the provisions of this Agreement in connection with the Revolving LoanLoan and the other Obligations, including, without limitation, ,Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (bfees and(b) credit all payments made by Borrowers the Borrower to the Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Account. The Lender may debit the Revolving Loan Account for the amount of any Item of Payment that which is returned to the Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by the Lender in cash or solvent credits. credits Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon Borrowers the Borrower in all respects, absent manifest error, unless the Lender receives specific written objection thereto from Borrowers the Borrower within thirty (30) Business Days days after such statement or reconciliation shall have been sent by the Lender.
Appears in 1 contract
Samples: Financing and Security Agreement (Chatwins Group Inc)
Revolving Loan Account. The Lender will establish and maintain a loan account on its books (the “Revolving Loan Account”) to which the Lender will (a) debit (i) the principal amount of each advance of the Revolving Loan made by the Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by Borrowers the Borrower to the Lender from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) credit all payments made by Borrowers the Borrower to the Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Account. The Lender may debit the Revolving Loan Account for the amount of any Item of Payment that is returned to the Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by the Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon Borrowers the Borrower in all respects, absent manifest error, unless the Lender receives specific written objection thereto from Borrowers the Borrower within thirty (30) Business Days after such statement or reconciliation shall have been sent by the Lender.
Appears in 1 contract
Samples: Financing and Security Agreement (Healthextras Inc)
Revolving Loan Account. The Lender will establish and maintain a loan account on its books (the “"Revolving Loan Account”") to which the Lender will (a) debit DEBIT (i) the principal amount of each advance of the Revolving Loan made by the Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by Borrowers the Borrower to the Lender from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) credit CREDIT all payments made by Borrowers the Borrower to the Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Accountmade. The Lender may debit the Revolving Loan Account for the amount of any Item of Payment that is returned to the Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by the Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon Borrowers the Borrower in all respects, absent manifest error, unless the Lender receives specific written objection thereto from Borrowers the Borrower within thirty (30) Business Days after such statement or reconciliation shall have been sent by the Lender.
Appears in 1 contract
Samples: Financing and Security Agreement (Pec Solutions Inc)
Revolving Loan Account. The Lender will establish and maintain a loan account on its books (the “Revolving Loan Account”) to which the Lender will (a) debit (i) the principal amount of each advance of the Revolving Loan made by the Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by Borrowers the Borrower to the Lender from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) credit all payments made by Borrowers the Borrower to the Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Account. The Lender may debit the Revolving Loan Account for the amount of any Item of Payment that is returned to the Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by the Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon Borrowers the Borrower in all respects, absent manifest error, unless the Lender receives specific written objection thereto from Borrowers the Borrower within thirty ninety (3090) Business Days after such statement or reconciliation shall have been sent by the Lender.
Appears in 1 contract
Samples: Financing and Security Agreement (Healthextras Inc)
Revolving Loan Account. Lender will establish and maintain a loan account on its books (the “"Revolving Loan Account”") to which Lender will (a) debit (i) the principal amount of each advance of the Revolving Loan made by Lender hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by Borrowers Borrower to Lender from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) credit all payments made by Borrowers Borrower to Lender on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Account. Lender may debit the Revolving Loan Account for the amount of any Item of Payment that is returned to Lender unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by Lender in cash or solvent credits. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon Borrowers Borrower in all respects, absent manifest error, unless Lender receives specific written objection thereto from Borrowers Borrower within thirty (30) Business Days after such statement or reconciliation shall have been sent by Lender.
Appears in 1 contract
Samples: Financing and Security Agreement (Gp Strategies Corp)