Common use of Statements of Obligations Clause in Contracts

Statements of Obligations. The Loans and Borrowers’ obligation to repay the same shall be evidenced by this Agreement and the books and records of Bank. Bank shall render monthly statements of the Loans to Borrowers, including statements of all principal and interest owing on the Loans, and all Fees and Expenses owing, and such statements shall be presumed to be correct and accurate and constitute an account stated between Borrowers and Bank unless, within 30 days after receipt thereof by Borrowers, Administrative Borrower delivers to Bank, at the address specified in Section 8.1, written objection thereof specifying the error or errors, if any, contained in any such statement.

Statements of Obligations. The Revolving Loans and Borrowers’ Borrower’s obligation to repay the same shall be evidenced by this Agreement and the books and records of Bank. Bank shall render monthly statements of the Loans to BorrowersBorrower, including statements of all principal and interest owing on the Loans, and all Fees and Expenses owing, and such statements shall be presumed to be correct and accurate and constitute an account stated between Borrowers Borrower and Bank unless, within 30 thirty (30) days after receipt thereof by BorrowersBorrower, Administrative Borrower delivers to Bank, at the address specified in Section 8.17.1, written objection thereof specifying the error or errors, if any, contained in any such statement.