Common use of Statement of Account Clause in Contracts

Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account (“Borrowers’ Account”) in the name of Borrowers in which shall be recorded the date and amount of each Advance made by Agent or Lenders and the date and amount of each payment in respect thereof; provided, however, the failure by Agent to record the date and amount of any Advance shall not adversely affect Agent or any Lender. Each month, Agent shall send to Borrowing Agent a statement showing the accounting for the Advances made, payments made or credited in respect thereof, and other transactions between Agent, Lenders and Borrowers and the other Loan Parties during such month. The monthly statements shall be deemed correct and binding upon Borrowers in the absence of manifest error and shall constitute an account stated between Lenders and Borrowers unless Agent receives a written statement of Borrowers’ specific exceptions thereto within thirty (30) days after such statement is received by Borrowing Agent. The records of Agent with respect to Borrowers’ Account shall be conclusive evidence absent manifest error of the amounts of Advances and other charges thereto and of payments applicable thereto.

Appears in 3 contracts

Samples: Revolving Credit, Guaranty and Security Agreement (Babcock & Wilcox Enterprises, Inc.), Export Import Revolving Credit, Guaranty and Security Agreement (Dasan Zhone Solutions Inc), Revolving Credit, Term Loan, Guaranty and Security Agreement (Dasan Zhone Solutions Inc)

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Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account for the Borrowers (“Borrowers’ Account”) ), in the name of Borrowers Borrowing Agent, in which shall be recorded the date and amount of each Advance made by Agent or Lenders and the date and amount of each payment in respect thereof; provided, however, the failure by Agent to record the date and amount of any Advance shall not adversely affect Agent or any Lender. Each month, Agent shall send to Borrowing Agent a statement showing the accounting for the Advances made, payments made or credited in respect thereof, and other transactions between Agent, Lenders and Borrowers and the other Loan Parties Borrowers, during such month. The monthly statements shall be deemed correct and binding upon Borrowers in the absence of manifest error and shall constitute an account stated between Lenders and Borrowers unless Agent receives a written statement of Borrowers’ specific exceptions thereto within thirty (30) days after such statement is received by Borrowing Agent. The records of Agent with respect to Borrowers’ Account the loan account shall be conclusive evidence absent manifest error of the amounts of Advances and other charges thereto and of payments applicable thereto.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (SMTC Corp), Revolving Credit and Security Agreement (SMTC Corp)

Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account accounts (collectively, the “Borrowers’ AccountAccounts”) in the name of Borrowers for loans made to it, in which shall be recorded the date and amount of each Advance made by Agent or Lenders and the date and amount of each payment in respect thereof; provided, however, the failure by Agent to record the date and amount of any Advance shall not adversely affect Agent or any Lender. Each month, Agent shall send to Borrowing Agent a statement showing the accounting for the Advances made, payments made or credited in respect thereof, and other transactions between Agent, Lenders Agent and applicable Borrowers and the other Loan Parties during such month. The monthly statements shall be deemed correct and binding upon Borrowers in the absence of manifest error and shall constitute an account stated between Lenders Xxxxxxx and Borrowers unless Agent receives a written statement of Borrowers’ Borrowing Agent’s specific exceptions thereto within thirty (30) days after such statement is received by Borrowing Agent. The records of Agent with respect to Borrowers’ the Borrower’s Account shall be conclusive evidence absent manifest error of the amounts of Advances and other charges thereto and of payments applicable thereto.

Appears in 2 contracts

Samples: Revolving Credit, Term Loan and Security Agreement (Drilling Tools International Corp), Revolving Credit, Security and Guaranty Agreement (ROC Energy Acquisition Corp.)

Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account ("Borrowers' Account") in the name of Borrowers in which shall be recorded the date and amount of each Revolving Advance made by Agent or Lenders and the date and amount of each payment in respect thereof; provided, however, the failure by Agent to record the date and amount of any Revolving Advance shall not adversely affect Agent or any Lender. Each month, Agent shall send to Borrowing Agent a statement showing the accounting for the Revolving Advances made, payments made or credited in respect thereof, and other transactions between AgentAgent and Borrowers, Lenders and Borrowers and the other Loan Parties during such month. The monthly statements shall be deemed correct and binding upon Borrowers in the absence of manifest error and shall constitute an account stated between Lenders and Borrowers unless Agent receives a written statement of Borrowers' specific exceptions thereto within thirty (30) days after such statement is received by Borrowing Agent. The records of Agent with respect to Borrowers’ Account the loan account shall be conclusive evidence absent manifest error of the amounts of Revolving Advances and other charges thereto and of payments applicable thereto.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Vista Information Solutions Inc)

Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account (“Borrowers’ "Borrower's Account") in the name of Borrowers Borrower in which shall be recorded the date and amount of each Advance made by Agent or Lenders and the date and amount of each payment in respect thereof; provided, however, the failure by Agent to record the date and amount of any Advance shall not adversely affect Agent or any Lender. Each month, Agent shall send to Borrowing Agent Borrower and each Lender a statement showing the accounting for the Advances made, payments made or credited in respect thereof, and other transactions between Agent, Lenders and Borrowers and the other Loan Parties Borrower, during such month. The monthly statements shall be deemed correct and binding upon Borrowers Borrower in the absence of manifest error and shall constitute an account stated between Lenders and Borrowers Borrower unless Agent receives a written statement of Borrowers’ Borrower's specific exceptions thereto within thirty (30) days after such statement is received by Borrowing AgentBorrower. The records of Agent with respect to Borrowers’ the Borrower's Account shall be conclusive prima facie evidence absent manifest error of the amounts of Advances and other charges thereto and of payments applicable thereto.

Appears in 1 contract

Samples: Oil & Gas Revolving Credit and Term Loan Agreement (Transtexas Gas Corp)

Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account ("Borrowers' Account") in the name of Borrowers in which shall be recorded the date and amount of each Advance made by Agent or Lenders and the date and amount of each payment in respect thereof; provided, however, the failure by Agent to record the date and amount of any Advance (and not any payment in respect thereof) shall not adversely affect Agent or any Lender. Each month, Agent shall send to Borrowing Agent a statement showing the accounting for the Advances made, payments made or credited in respect thereof, and other transactions between Agent, Lenders Agent and Borrowers and the other Loan Parties during such month. The monthly statements shall be deemed correct and binding upon Borrowers in the absence of manifest error and shall constitute an account stated between Lenders and Borrowers unless Agent receives a written statement of Borrowers' specific exceptions thereto within thirty (30) days after such statement is received by Borrowing Agent. The records of Agent with respect to Borrowers’ Account the loan account shall be conclusive evidence absent manifest error of the amounts of Advances and other charges thereto and of payments applicable thereto.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (General Finance CORP)

Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account ("Borrowers' Account") in the name of Borrowers in which shall be recorded the date and amount of each Advance made by Agent or Lenders and the date and amount of each payment in respect thereof; provided, however, the failure by Agent to record the date and amount of any Advance (or deemed made under Section 2.12(b)) shall not adversely affect Agent or any Lender. Each month, Agent shall send to Borrowing Agent a statement showing the accounting for the Advances made, payments made or credited in respect thereof, and other transactions between AgentAgent and Borrowers, Lenders and Borrowers and the other Loan Parties during such month. The monthly statements shall be deemed correct and binding upon Borrowers in the absence of manifest error and shall constitute an account stated between Lenders and Borrowers unless Agent receives a written statement of Borrowers' specific exceptions thereto within thirty (30) days after such statement is received by Borrowing Agent. The records of Agent with respect to Borrowers’ Account the loan account shall be conclusive evidence absent manifest error of the amounts of Advances and other charges thereto and of payments applicable thereto.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Union Drilling Inc)

Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account (“Borrowers’ "Borrower's Account") in the name of Borrowers Borrower in which shall be recorded the date and amount of each Revolving Advance made by Agent or Lenders and the date and amount of each payment in respect thereof; provided, however, the failure by Agent to record the date and amount of any Revolving Advance shall not adversely affect Agent or any Lender. Each month, Agent shall send to Borrowing Agent Borrower a statement showing the accounting for the Revolving Advances made, payments made or credited in respect thereof, and other transactions between Agent, Lenders and Borrowers and the other Loan Parties Borrower, during such month. The monthly statements shall be deemed correct and binding upon Borrowers Borrower in the absence of manifest error and shall constitute an account stated between Lenders and Borrowers Borrower unless Agent receives a written statement of Borrowers’ Borrower's specific exceptions thereto within thirty (30) days after such statement is received by Borrowing AgentBorrower. The records of Agent with respect to Borrowers’ Account the loan account shall be conclusive evidence absent manifest error of the amounts of Revolving Advances and other charges thereto and of payments applicable thereto.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Fonda Group Inc)

Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account (“Borrowers’ "Borrower's Account") in the name of Borrowers Borrower in which shall be recorded the date and amount of each Revolving Advance made by Agent or Lenders and the date and amount of each payment in respect thereof; provided, however, the failure by Agent to record the date and amount of any Revolving Advance shall not adversely affect Agent or any Lender. Each month, Agent shall send to Borrowing Agent Borrower a statement showing the accounting for the Revolving Advances made, payments made or credited in respect thereof, and other transactions between AgentAgent and Borrower, Lenders and Borrowers and the other Loan Parties during such month. The monthly statements shall be deemed correct and binding upon Borrowers Borrower in the absence of manifest error and shall constitute an account stated between Lenders and Borrowers Borrower unless Agent receives a written statement of Borrowers’ Borrower's specific exceptions thereto within thirty (30) days after such statement is received by Borrowing AgentBorrower. The records of Agent with respect to Borrowers’ Account the loan account shall be conclusive evidence absent manifest error of the amounts of Revolving Advances and other charges thereto and of payments applicable thereto.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Robotic Vision Systems Inc)

Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account (“Borrowers’ Account”) in the name of Borrowers in which shall be recorded the date and amount of each Advance made by Agent or Lenders and the date and amount of each payment in respect thereof; provided, however, the failure by Agent to record the date and amount of any Advance shall not adversely affect Agent or any Lender. Each month, Agent shall send to Borrowing Agent a statement showing the accounting for the Advances made, payments made or credited in respect thereof, and other transactions between Agent, Lenders Xxxxxxx and Borrowers and the other Loan Parties Guarantors during such month. The monthly statements shall be deemed correct and binding upon Borrowers in the absence of manifest error and shall constitute an account stated between Lenders Xxxxxxx and Borrowers unless Agent receives a written statement of Borrowers’ specific exceptions thereto within thirty (30) days after such statement is received by Borrowing Agent. The records of Agent with respect to BorrowersXxxxxxxxx’ Account shall be conclusive evidence absent manifest error of the amounts of Advances and other charges thereto and of payments applicable thereto.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Build-a-Bear Workshop Inc)

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Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account (“Borrowers’ Account”) in the name of Borrowers in which shall be recorded the date and amount of each Advance made by Agent or Lenders and the date and amount of each payment in respect thereof; provided, however, the failure by Agent to record the date and amount of any Advance shall not adversely affect Agent or any Lender. Each month, Agent shall send to Borrowing Agent a statement showing the accounting for the Advances made, payments made or credited in respect thereof, and other transactions between Agent, Lenders and Borrowers and the other Loan Parties during such month. The monthly statements shall be deemed conclusively presumed to be correct and binding upon Borrowers in the absence of manifest demonstrable error and shall constitute an account stated between Lenders and Borrowers unless Agent receives a written statement of Borrowers’ specific exceptions thereto within thirty (30) days after such statement is received by Borrowing Agent. The records of Agent with respect to Borrowers’ Account shall be conclusive evidence conclusively presumed correct absent manifest demonstrable error of the amounts of Advances and other charges thereto and of payments applicable thereto.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Universal Logistics Holdings, Inc.)

Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account (“Borrowers’ Account”) in the name of Borrowers in which shall be recorded the date and amount of each Advance made by Agent or Lenders and the date and amount of each payment in respect thereof; provided, however, the failure by Agent to record the date and amount of any Advance shall not adversely affect Agent or any Lender. Each month, Agent shall send to Borrowing Agent a statement showing the accounting for the Advances made, payments made or credited in respect thereof, and other transactions between Agent, Lenders and Borrowers and the other Loan Parties Guarantors during such month. The monthly statements shall be deemed correct and binding upon Borrowers in the absence of manifest error and shall constitute an account stated between Lenders and Borrowers unless Agent receives a written statement of Borrowers’ specific exceptions thereto within thirty (30) days after such statement is received by Borrowing Agent. The records of Agent with respect to Borrowers’ Account shall be conclusive evidence absent manifest error of the amounts of Advances and other charges thereto and of payments applicable thereto.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Build a Bear Workshop Inc)

Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account (“Borrowers’ Account”) in the name of Borrowers in which shall be recorded the date and amount of each Advance made by Administrative Agent or Lenders and the date and amount of each payment in respect thereof; provided, however, the failure by Administrative Agent to record the date and amount of any Advance shall not adversely affect Administrative Agent or any Lender. Each month, Administrative Agent shall send to Borrowing Agent a statement showing the accounting for the Advances made, payments made or credited in respect thereof, and other transactions between Agent, Lenders Administrative Agent and Borrowers and the other Loan Parties during such month. The monthly statements shall be deemed correct and binding upon Borrowers in the absence of manifest error and shall constitute an account stated between Lenders and Borrowers unless Administrative Agent receives a written statement of Borrowers’ specific exceptions thereto within thirty forty five (3045) days after such statement is received by Borrowing Agent. The records of Administrative Agent with respect to Borrowers’ Account the loan account shall be conclusive evidence absent manifest error of the amounts of Advances and other charges thereto and of payments applicable thereto.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Skullcandy, Inc.)

Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account (“Borrowers’ Borrower’s Account”) in the name of Borrowers Borrower in which shall be recorded the date and amount of each Advance made by Agent or Lenders and the date and amount of each payment in respect thereof; provided, however, that the failure by Agent to record the date and amount of any Advance shall not adversely affect Agent or any Lender. Each month, Agent shall send to Borrowing Agent Borrower Representative a statement showing the accounting for the Advances made, payments made or credited in respect thereof, and other transactions between Agent, Lenders and Borrowers and the other Loan Parties Borrower, during such month. The monthly statements shall be deemed correct and binding upon Borrowers Borrower in the absence of manifest error and shall constitute an account stated between Agent, Lenders and Borrowers Borrower unless Agent receives a written statement of Borrowers’ Borrower’s specific exceptions thereto within thirty (30) days after such statement is received by Borrowing AgentBorrower Representative. The records of Agent with respect to Borrowers’ the Borrower’s Account shall be conclusive evidence absent manifest error of the amounts of Advances and other charges thereto and of payments applicable thereto.

Appears in 1 contract

Samples: Credit and Security Agreement (Manhattan Bridge Capital, Inc)

Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account (“Borrowers’ Borrower's Account) in the name of Borrowers Borrower in which shall be recorded the date and amount of each Advance made by Agent or Lenders and the date and amount of each payment in respect thereof; providedPROVIDED, howeverHOWEVER, the failure by Agent to record the date and amount of any Advance shall not adversely affect Agent or any Lender. Each For each month, Agent shall send to Borrowing Agent Borrower a statement showing the accounting for the Advances made, payments made or credited in respect thereof, and other transactions between Agent, Lenders and Borrowers and the other Loan Parties Borrower, during such month. The monthly statements shall be deemed correct and binding upon Borrowers Borrower in the absence of manifest error and shall constitute an account stated between Lenders and Borrowers Borrower unless Agent receives a written statement of Borrowers’ Borrower's specific exceptions thereto within thirty forty-five (3045) days after such statement is received by Borrowing AgentBorrower. The records of Agent with respect to Borrowers’ Account the loan account shall be conclusive PRIMA FACIE evidence absent manifest error of the amounts of Advances and other charges thereto and of payments applicable thereto.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Dreamlife Inc)

Statement of Account. Agent shall maintain, in accordance with its customary procedures, a loan account (“Borrowers’ Account”) in the name of Borrowers in which shall be recorded the date and amount of each Advance made by Agent or Lenders and the date and amount of each payment in respect thereof; provided, however, the failure by Agent to record the date and amount of any Advance shall not adversely affect Agent or any Lender. Each month, Agent shall send to Borrowing Agent a statement showing the accounting for the Advances made, payments made or credited in respect thereof, and other transactions between Agent, Lenders Xxxxxxx and Borrowers and the other Loan Parties during such month. The monthly statements shall be deemed correct and binding upon Borrowers in the absence of manifest error and shall constitute an account stated between Lenders Xxxxxxx and Borrowers unless Agent receives a written statement of Borrowers’ specific exceptions thereto within thirty (30) days after such statement is received by Borrowing Agent. The records of Agent with respect to BorrowersXxxxxxxxx’ Account shall be conclusive evidence absent manifest error of the amounts of Advances and other charges thereto and of payments applicable thereto.

Appears in 1 contract

Samples: Revolving Credit, Guaranty and Security Agreement (Babcock & Wilcox Enterprises, Inc.)

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