The Loan Account. (a) An account (“Loan Account”) shall be opened on the books of the Administrative Agent in which a record shall be kept of all loans and advances made under the Credit Facilities.
(b) The Administrative Agent shall also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent may from time to time elect) of all interest, fees, service charges, costs, expenses, and other debits owed to the Administrative Agent and each Lender on account of the Liabilities and of all credits against such amounts so owed.
(c) All credits against the Liabilities shall be conditional upon final payment to the Administrative Agent for the account of each Lender of the items giving rise to such credits. The amount of any item credited against the Liabilities which is charged back against the Administrative Agent or any Lender for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, shall be added to the Loan Account, whether or not the item so charged back or not so paid is returned.
(d) Except as otherwise provided herein, all fees, service charges, costs, and expenses for which any Borrower is obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent may deem fees, service charges, accrued interest, and other payments which will be due and payable between the date of such determination and the first day of the then next succeeding month as having been advanced under the Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ Representative, may advance under the Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any Lender is entitled from any Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan may result thereby. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s rights and each Borrower’s obligations under Section 2.13(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loans.
(f) In the absence of manifest error, a statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative concerning the Liabilities shall be considered corre...
The Loan Account. Newco shall maintain a loan account on its books in ---------------- which shall be recorded all advances under the Loans (collectively, "Advances") made by Newco to Company pursuant to this Agreement, and all payments made by Company with respect to the Loans; provided, however, that failure to maintain such account or record any advances therein shall not relieve Company of its obligations to repay the outstanding principal amount of the Loans, all accrued interest thereon, and any amount payable with respect thereto in accordance with the terms of this Agreement and the Notes.
The Loan Account. Each Revolving Loan shall be recorded in an account on the books of the Bank bearing the Company's name (the "Loan Account"). There shall also be recorded in the Loan Account all prepayments and payments made by the Company in respect of the Line of Credit and other appropriate debits and credits as herein provided. The Bank shall render and send to the Company on a monthly basis a statement of the Loan Account showing the respective outstanding principal balance of the Line of Credit, together with interest and other appropriate debits and credits as of the date of the statement. The statement of the Loan Account shall be considered correct in all respects and accepted by and be conclusively binding upon the Company unless the Company makes specific written objection thereto within sixty (60) days after the date the statement of the Loan Account is sent.
The Loan Account. The Loans shall be evidenced by debit entries to ---------------- the Loan Account. The Bank shall also record in the Loan Account all payments made by the borrower on account of indebtedness evidenced by the Loan Account and all proceeds of Collateral which are finally paid to the Bank at its office in cash or solvent credits, and may record therein, in accordance with customary accounting practice, other debits and credits,including all charges and expenses properly chargeable to the Borrower and any other Obligation. The debit balance of the Loan Account shall reflect the amount of the borrower's indebtedness to the Bank from time to time by reason of Loans and other appropriate charges hereunder. At least once each month the Bank shall render (i) a statement of account showing as of its date the debit balance of the Loan Account and charges to the Loan Account for such month; and (ii) a statement of account showing as of its date the balance of any deposit account maintained with the Borrower with the Bank and charges to such deposit account for such month. Each such statement referred to above shall be considered correct and accepted by the Borrower and conclusively binding upon it absent manifest error unless, within thirty (30) days after the date of any such statement, notice to the contrary is received by the Bank from the Borrower.
The Loan Account. The Company shall maintain a loan account on its books in which shall be recorded all advances under the Loan (collectively, "Advances") made by Company to DEVELOPER pursuant to this Agreement, and all payments made by DEVELOPER with respect to the Loan; provided, however, that failure to maintain such account
The Loan Account. The Agent shall maintain on its books the Loan Account to evidence the Loans and shall also record in the Loan Account all payments made on account of indebtedness evidenced by the Loan Account and all proceeds of Collateral which are finally paid to the Agent at its office in cash or solvent credits, and may record therein, in accordance with customary accounting practice, other debits and credits, including all charges and expenses properly chargeable to the Borrower and any other Obligation, which shall be conclusive absent manifest error. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Agent in respect of such matters, the accounts and records of the Agent shall control in the absence of manifest error. The debit balance of the Loan Account shall reflect the amount of the Obligations from time to time by reason of Loans and other appropriate charges hereunder.
The Loan Account. An account ("LOAN ACCOUNT") shall be opened on the books of the Lender in which a record shall be kept of all loans and advances made under the Revolving Credit.
The Loan Account. (a) Lender shall maintain on its books a Loan Account in the name of Borrower to evidence the Loans and shall also record in the Loan Account all payments made on account of indebtedness evidenced by the Loan Account and all proceeds of Collateral which are finally paid to Lender at its office in cash or solvent credits, and may record therein, in accordance with customary accounting practice, other debits and credits, including all charges and expenses properly chargeable to Borrower and any other Obligation. The debit balance of the Loan Account shall reflect the amount of the Obligations from time to time by reason of Loans and other appropriate charges hereunder; and
(b) At least once each month Lender shall account to Borrower with a statement showing as of its date the Loans, charges and payments made by and for the account of Borrower for such month. Each such statement shall be considered correct and accepted by Borrower and presumptively binding upon it, absent manifest error unless, within sixty (60) days after the date of any such statement, notice to the contrary is received by Lender from Borrower.
The Loan Account. Boston Chicken shall maintain a loan account on its books in which shall be recorded all Advances made by Boston Chicken to the Company pursuant to this Agreement, and all payments made by the Company with respect to the Loan; provided, however, that failure to maintain such account or record any Advances therein shall not relieve the Company of its obligations to repay the outstanding principal amount of the Loan, all accrued interest thereon, and any amount payable with respect thereto in accordance with the terms of this Agreement and the Note.
The Loan Account. (a) An account ("LOAN ACCOUNT") shall be opened on the books of the Administrative Agent in which a record shall be kept of all Tranche A Loans.
(b) The Administrative Agent may also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent may from time to time elect) of all interest, fees, service charges, costs, expenses, and other debits owed to the Administrative Agent, the SwingLine Lender, and each Tranche A Lender on account of the Liabilities and of all credits against such amounts so owed.
(c) All credits against the Liabilities shall be conditional upon receipt of final payment to the Administrative Agent for the account of each Tranche A Lender of the items giving rise to such credits. The amount of any item credited against the Liabilities which is charged back against the Administrative Agent or any Tranche A Lender for any reason or is not
