Common use of Statements of Obligations Clause in Contracts

Statements of Obligations. (a) The Agent, on behalf of the Lenders, shall record on its books and records the amount of each Advance made, the interest rate applicable, all payments of principal and interest thereon and the principal balance thereof from time to time outstanding. The Agent shall deliver to Borrower on a monthly basis a loan statement setting forth the amount of the principal balance of the Advances and the interest payment due on the next interest payment date. Such record and such loan statement shall, absent manifest error, be conclusive evidence of the amount of the Advances made by the Lenders to Borrower and the interest and payments thereon unless, within thirty (30) calendar days after Borrower’s request to inspect such record or Borrower’s receipt of a loan statement, as applicable. Borrower shall deliver to the Agent written objection thereto describing the error or errors contained in such record or loan statement, as applicable. Any failure to so record or any error in doing so, or any failure to deliver such loan statement shall not, however, limit or otherwise affect the obligation on Borrower hereunder (or under any Note) to pay any amount owing with respect to the Advances or provide the basis for any claim against the Agent.

Statements of Obligations. (a) The Agent, on behalf of the Lenders, shall record on its books and records the amount of each Advance madethe Term Loan made hereunder, the interest rate applicable, all payments of principal and interest thereon and the principal balance thereof from time to time outstanding. The Agent shall deliver to Borrower on a monthly quarterly basis a loan statement setting forth the amount of the principal balance of the Advances and the interest payment due on the next interest payment dateTerm Loan then outstanding. Such record and such loan statement shall, absent manifest error, be conclusive evidence of the amount of the Advances Term Loan made by the Lenders to Borrower and then outstanding and the interest and payments thereon unless, within thirty (30) calendar days after BorrowerXxxxxxxx’s request to inspect such record or BorrowerXxxxxxxx’s receipt of a loan statement, as applicable. , Borrower shall deliver to the Agent written objection thereto describing the error or errors contained in such record or loan statement, as applicable. Any failure to so record or any error in doing so, or any failure to deliver such loan statement shall not, however, limit or otherwise affect the obligation on Borrower hereunder (or under any Note) to pay any amount owing with respect to the Advances Term Loan or provide the basis for any claim against the Agent.