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 correct and accepted by each Borrower and shall be conclusively binding upon each Borrower unless the Borrowers’ Representative provides the Administrative Agent with written objection thereto within thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 3 contracts
Samples: Loan and Security Agreement (Casual Male Retail Group Inc), Loan and Security Agreement (Casual Male Retail Group Inc), Loan and Security Agreement (Casual Male Retail Group Inc)
The Loan Account. (a) An account (“"Loan Account”") shall be opened on the books of the Administrative Agent in which a Agent. A record shall be kept in the Loan Account of all loans and advances made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(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 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, and 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 the 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Borrowing Base's being exceeded. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s 's rights and each Borrower’s 's obligations under Section 2.13(b2-8(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2-6(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loansinterest.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection thereto within thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s 's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein, absent manifest error.
Appears in 2 contracts
Samples: Loan and Security Agreement (Designs Inc), Loan and Security Agreement (Designs Inc)
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 FacilitiesRevolving Credit.
(b) The Administrative Agent shall 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 and each the 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 and the account of each Lender Lenders 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 the Lenders for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the Borrowers are obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent may deem fees, service charges, accrued interestinterest (except for interest charged on Index Loans, which, unless charged earlier, shall be charged on the Interest Payment Date), 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeLead Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Lender is entitled from any Borrower the Borrowers pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Borrowing Base being exceeded. Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.8(e) shall bear interest, at the interest rate then and thereafter applicable to Base Margin Loans. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s rights and each Borrower’s right or the Borrowers’ obligations under Section 2.13(b2.10(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 Any statement rendered by the Agent or the Lenders to the Borrowers concerning the Liabilities shall, 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 correct and accepted by each Borrower the Borrowers and shall be conclusively binding upon each Borrower the Borrowers unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection thereto within thirty Twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s and Lenders’ books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 2 contracts
Samples: Loan and Security Agreement (Mothers Work Inc), Loan and Security Agreement (Mothers Work Inc)
The Loan Account. (a) An account (“Loan 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 Revolving Credit Facilities(including, without limitation, Swingline Loans). The Loan Account shall also contain separate entries for loans and advances made to each Division.
(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 Revolving Credit Lender on account of the Liabilities from each Borrower and from each Division 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 the Agent or Revolving Credit Lender entitled thereto 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 Revolving Credit Lender or is disgorged for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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’ RepresentativeLead Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Revolving Credit Lender is entitled from any Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan may result thereby; provided that the Administrative Agent shall not charge the Loan Account for any third-party expenses incurred by the Agent (such as fees for attorneys, appraisers and commercial finance examinations) without first having furnished the Lead Borrower with a copy of the invoice therefor two (2) Business Days prior to the date that the Loan Account is to be so charged.. Any such advance shall be deemed a Base Margin Loan. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s 's rights and each Borrower’s 's obligations under Section 2.13(b2.11(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 correct and accepted by each Borrower and shall be conclusively binding upon each Borrower unless the Borrowers’ Representative provides the Administrative Agent with written objection thereto within thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.to
Appears in 2 contracts
Samples: Loan and Security Agreement (Retail Ventures Inc), Loan and Security Agreement (DSW Inc.)
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 Revolving Credit FacilitiesFacility.
(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 Revolving Credit Lender on account of the Liabilities Revolving Credit Loans and L/Cs 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 Revolving Credit 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 Revolving Credit Lender for any reason or is not so paid shall be a Liability and, if arising under the Revolving Credit FacilitiesFacility, 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 Revolving Credit Facilities Facility 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 Revolving Credit Facilities Facility any interest, fee, service charge, or other payment to which any Agent or any Revolving Credit 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(b2.11(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.9(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 Revolving Credit Lender to the Borrowers’ Representative concerning the Liabilities shall be considered correct and accepted by each Borrower and shall be conclusively binding upon each Borrower unless the Borrowers’ Representative provides the Administrative Agent with written objection thereto within thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 2 contracts
Samples: Loan and Security Agreement (Casual Male Retail Group Inc), Loan and Security Agreement (Casual Male Retail Group Inc)
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 FacilitiesRevolving Credit.
(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 Revolving Credit 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 Revolving Credit 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 Revolving Credit Lender or is disgorged for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeLead Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Revolving Credit 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 's rights and each Borrower’s 's obligations under Section 2.13(b2.10(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.8(e) shall bear interest at the interest rate then and thereafter applicable to Base Prime Margin Loans.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Revolving Credit Lender to the Borrowers’ Representative Lead Borrower concerning the Liabilities shall be considered correct and accepted by each Borrower and shall be conclusively binding upon each Borrower unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s 's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 2 contracts
Samples: Loan and Security Agreement (Drugmax Inc), Loan and Security Agreement (Childrens Place Retail Stores Inc)
The Loan Account. (a) An account (“Loan Account”) shall be opened on the books of the Administrative Agent in which a Lender. A record shall may be kept in the Loan Account of all loans and advances made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(b) The Administrative Agent shall Lender may also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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, and 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 the 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 AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Availability’s being exceeded. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative AgentLender’s rights and each Borrower’s obligations under Section 2.13(b2-9(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2-7(e) shall bear interest interest, subject to Section 2-10(f), at the interest rate then and thereafter applicable to Base Margin LoansPrime Rate.
(f) In the absence of Absent manifest error, a any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty sixty (3060) days from the mailing receipt of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative AgentLender’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 2 contracts
Samples: Loan and Security Agreement (Aeropostale Inc), Loan and Security Agreement (Aeropostale Inc)
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 loans, advances and advances payments made under the Credit FacilitiesRevolving Credit.
(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 Revolving Credit 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 Revolving Credit 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 Revolving Credit Lender for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Revolving Credit Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan OverAdvance may result thereby. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s 's rights and each the Borrower’s 's obligations under Section 2.13(b2.10(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.8(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loans.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Revolving Credit Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection thereto within thirty Thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s 's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 2 contracts
Samples: Loan and Security Agreement (Gander Mountain Co), Loan and Security Agreement (Gander Mountain Co)
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 loans, advances and advances payments made under the Revolving Credit Facilitiesand the Term Loan.
(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 Revolving Credit Lender or Term Loan Lender, as applicable, 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 Revolving Credit Lender or Term Loan Lender, as applicable, 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 Revolving Credit Lender or any Term Loan Lender, as applicable, for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Revolving Credit Lender or any Term Loan Lender, as applicable, is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan OverAdvance 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 the Borrower’s obligations under Section 2.13(b2.10(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.8(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loans.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Revolving Credit Lender or any Term Loan Lender, as applicable, to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection thereto within thirty Thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 2 contracts
Samples: Loan and Security Agreement (Gander Mountain Co), Loan and Security Agreement (Gander Mountain Co)
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 Revolving Credit FacilitiesLoans.
(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 Revolving Credit 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 Revolving Credit 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 Revolving Credit Lender for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Revolving Credit Lender is entitled and which are due and payable from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Borrowing Base’s being exceeded. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s rights and each the Borrower’s obligations under Section 2.13(b2-10(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2-8(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loans.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Revolving Credit Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 2 contracts
Samples: Loan and Security Agreement (Hastings Entertainment Inc), Loan and Security Agreement (Hastings Entertainment Inc)
The Loan Account. (a) An account (“Loan 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 Revolving Credit Facilities(including, without limitation, Swingline Loans). The Loan Account shall also contain separate entries for loans and advances made to each Borrower.
(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 each Agent and each Revolving Credit Lender on account of the Liabilities from each Borrower 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 the Agent or Revolving Credit Lender entitled thereto of the items giving rise to such credits. The amount of any item credited against the Liabilities which is charged back against the Administrative any Agent or any Revolving Credit Lender or is disgorged for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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’ RepresentativeLead Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any Revolving Credit Lender is entitled from any Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan may result thereby; provided that the Administrative Agent shall not charge the Loan Account for any third-party 44 expenses incurred by the Agent (such as fees for attorneys, appraisers and commercial finance examinations) without first having furnished the Lead Borrower with a copy of the invoice therefor two (2) Business Days prior to the date that the Loan Account is to be so charged.. Any such advance shall be deemed a Base Margin Loan. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s 's rights and each Borrower’s 's obligations under Section 2.13(b2.11(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.9(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loans. The Administrative Agent shall promptly furnish the Lead Borrower with a detailed statement itemizing any amounts so charged to the Loan Account.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Revolving Credit Lender to the Borrowers’ Representative Lead Borrower concerning the Liabilities shall be considered correct and accepted by each Borrower and shall shall, absent manifest error, be conclusively binding upon each Borrower unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection thereto within thirty twenty (3020) days from the mailing receipt by the Lead Borrower of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s 's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“"Loan Account”") shall be opened on the books of the Administrative Agent Lender in which Loan Account a record shall may be kept of all loans and advances made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(b) The Administrative Agent shall Lender may also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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, and 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 the Borrower is obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 or deposits as having been advanced under the Revolving Credit Facilities whether or not if such amounts are then due and payablepayable inclusive of deposits for fees whether incurred at the time of deposit or as duly accounted for in accordance with the terms set forth herein.
(e) The Administrative AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin an Overadvance. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative Agent’s Lender's rights and each Borrower’s obligations under Section 2.13(b1-7(b), below. 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 from time to Base Margin Loanstime to the unpaid principal balance of the Loan Account.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty forty (3040) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s Lender's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“the "Loan Account”") shall be opened on the books of the Administrative Agent Lender in which a record shall be kept of all loans and advances made under the Credit FacilitiesRevolving Credit.
(b) The Administrative Agent Lender shall also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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 Lender for the account of each the 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 Lender or any Lender is disgorged for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the Borrower is obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any the 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 Lender shall not constitute a waiver of the Administrative Agent’s Lender's rights and each the Borrower’s 's obligations under Section 2.13(b2.11(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.9(e) shall bear interest at the interest rate then and thereafter applicable to Base Prime Margin Loans.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s Lender's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“"Loan Account”") shall be opened on the books of the Administrative Agent Lender in which Loan Account a record shall may be kept of all loans and advances made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(b) The Administrative Agent shall Lender may also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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, and shall be added to the Loan Account, 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 the Borrower is obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 Revolving Credit Facilities whether or not if such amounts are then due and payable.
(e) The Administrative AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Availability's being exceeded. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative Agent’s Lender's rights and each Borrower’s obligations under Section 2.13(b1-7(b), below. 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 from time to Base Margin Loanstime to the unpaid principal balance of the Loan Account.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s Lender's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
Samples: Loan and Security Agreement (Sunbelt Nursery Group Inc)
The Loan Account. (a) An account (“Loan Account”"LOAN ACCOUNT") shall be opened on the books of the Administrative Agent in which a Lender. A record shall may be kept in the Loan Account of all loans and advances made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(b) The Administrative Agent shall Lender may also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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, and 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 the 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 AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Credit Facilities Credits any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any the 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 LoansPrime Rate.
(fe) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s Lender's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
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 FacilitiesRevolving Credit.
(b) The Administrative Agent shall 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 and each the 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 and the account of each Lender Lenders 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 the Lenders for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the Borrowers are obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent may deem fees, service charges, accrued interestinterest (except for interest charged on Index Loans, which, absent the occurrence of an Event of Default, shall be charged on the maturity date of the Index contract), 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeLead Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Lender the Lenders is entitled from any Borrower the Borrowers pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced 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)in Borrowing Base's being exceeded. Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.7(e) shall bear interest , at the interest rate then and thereafter applicable to Base Margin Loans. Such action on the part of the Agent shall not constitute a waiver of the Agent's right or the Borrowers' obligations under Section 2.10(b).
(f) In Any statement rendered by the Agent or the Lenders to the Borrowers concerning the Liabilities shall, 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 correct and accepted by each Borrower the Borrowers and shall be conclusively binding upon each Borrower the Borrowers unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection thereto within thirty forty five (3045) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s 's and Lenders' books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
Samples: Loan and Security Agreement (Duckwall Alco Stores Inc)
The Loan Account. (a) An account (“Loan 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 FacilitiesTranche A Loans.
(b) The Administrative Agent shall 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 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 so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the Borrowers are obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent may deem fees, service charges, accrued interestinterest (except for interest charged on Index Loans, which, absent the occurrence of an Event of Default, shall be charged on the maturity date of the Index contract), 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeLead Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent the Agents or any Lender is entitled from any Borrower the Borrowers pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced 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)in Borrowing Base's being exceeded. Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.8(e) on account of the Administrative Agent shall bear interest at the interest rate then and thereafter applicable to Base Margin Loans. Such charge by the Administrative Agent shall not constitute a waiver of the Administrative Agent's right or the Borrowers' obligations under Section 2.10(b).
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrowers concerning the Liabilities shall shall, in the absence of manifest error, be considered correct and accepted by each Borrower the Borrowers and shall be conclusively binding upon each Borrower the Borrowers unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent or such Lender with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s 's and the Lender's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“the "Loan Account”") shall be opened on the books of the Administrative Agent Lender, in which Loan Account ---------------- a record shall may be kept of all loans Advances made by the Lender to the Borrower under or pursuant to this Agreement and advances made under the Credit Facilitiesof all payments thereon.
(b) The Administrative Agent shall Lender may also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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 Obligations and of all credits against such amounts so owed.
(c) All credits against the Liabilities Obligations 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 Obligations 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, an Obligation and 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 the Borrower is obligated hereunder are payable on demandthirty (30) days after the invoice date. 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 AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Credit Facilities make an Advance of any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Availability's being exceeded. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative Agent’s Lender's rights and each Borrower’s obligations under Section 2.13(b2.4(b), above. Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e) subsection shall bear interest at the interest rate then and thereafter applicable from time to Base Margin Loanstime to the unpaid principal balance of the Loan Account.
(fe) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities Obligations shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s Lender's books and records concerning the loan arrangement contemplated herein and the Liabilities Obligations shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“"Loan Account”") shall be opened on the books of the Administrative Agent Lender in which a Loan Account Lender shall keep an accurate record shall be kept of all loans and advances made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(b) The Administrative Agent shall Lender may also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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, and 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 the Borrower is obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 or deposits as having been advanced under the Revolving Credit Facilities whether or not if such amounts are then due and payablepayable inclusive of deposits for fees whether incurred at the time of deposit or as duly accounted for in accordance with the terms set forth herein.
(e) The Administrative AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin an Overadvance. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative Agent’s Lender's rights and each Borrower’s obligations under Section 2.13(b1-7(b), below. 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 from time to Base Margin Loanstime to the unpaid principal balance of the Loan Account.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s Lender's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“Loan Account”) shall be opened on the books of the Administrative Agent Lender in which a record shall be kept of all loans and advances made under the Credit FacilitiesRevolving Credit.
(b) The Administrative Agent Lender shall also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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) The Lender shall provide the Lead Borrower, monthly, with a statement of the Loan Account.
(d) 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, and shall be added to the Loan Account, whether or not the item so charged back or not so paid is returned.
(de) 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 event that the Lead Borrower prevails in any dispute of the amount of any such fee, service charge, cost, or expense, the Lender shall refund any interest which accrued on any amount paid over to that Borrower in consequence of the resolution of such dispute.
(f) In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(eg) The Administrative AgentLender, without the request of the Borrowers’ RepresentativeLead Borrower, may advance under the Revolving 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 therebythereby and shall provide notice of such advance to the Lead Borrower. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative AgentLender’s rights and each Borrower’s obligations under Section 2.13(b2.12(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e(g) shall bear interest at the interest rate then and thereafter applicable to Base Margin Prime Rate Loans.
(fh) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Lead Borrower concerning the Liabilities shall be considered correct and accepted by each Borrower and shall be conclusively binding upon each Borrower (absent an administrative or mathematical error) unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent Lender with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with reasonable particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative AgentLender’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described thereintherein absent manifest error.
Appears in 1 contract
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 loans, advances and advances payments made under the Credit FacilitiesRevolving Credit.
(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 Revolving Credit 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 Revolving Credit 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 Revolving Credit Lender for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Revolving Credit Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan OverAdvance 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 the Borrower’s obligations under Section 2.13(b2.10(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.8(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loans.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Revolving Credit Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection thereto within thirty Thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“Loan 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 Revolving Credit Facilities(including, without limitation, Swingline Loans). The Loan Account shall also contain separate entries for loans and advances made to each Division.
(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 each Agent and each Revolving Credit Lender on account of the Liabilities from each Borrower and from each Division 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 the Agent or Revolving Credit Lender entitled thereto of the items giving rise to such credits. The amount of any item credited against the Liabilities which is charged back against the Administrative any Agent or any Revolving Credit Lender or is disgorged for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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’ RepresentativeLead Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any Revolving Credit Lender is entitled from any Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan may result thereby; PROVIDED THAT the Administrative Agent shall not charge the Loan Account for any third-party expenses incurred by the Agent (such as fees for attorneys, appraisers and commercial finance examinations) without first having furnished the Lead Borrower with a copy of the invoice therefor two (2) Business Days prior to the date that the Loan Account is to be so charged.. Any such advance shall be deemed a Base Margin Loan. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s 's rights and each Borrower’s 's obligations under Section 2.13(b2.11(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.9(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loans. The Administrative Agent shall promptly furnish the Lead Borrower with a detailed statement itemizing any amounts so charged to the Loan Account.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Revolving Credit Lender to the Borrowers’ Representative Lead Borrower concerning the Liabilities shall be considered correct and accepted by each Borrower and shall shall, absent manifest error, be conclusively binding upon each Borrower unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection thereto within thirty twenty (3020) days from the mailing receipt by the Lead Borrower of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s 's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
Samples: Loan and Security Agreement (Value City Department Stores Inc /Oh)
The Loan Account. (a) An account (“Loan Account”"LOAN ACCOUNT") shall be opened on the books of the Administrative Agent Lender in which a record shall be kept of all loans and advances made under the Credit FacilitiesRevolving Credit.
(b) The Administrative Agent Lender shall also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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, and 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 the Borrower is obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Borrowing Base's being exceeded. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative Agent’s Lender's rights and each Borrower’s 's obligations under Section 2.13(b2:2.9(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2:2.7(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loansloans and advances under the Revolving Credit.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower in the absence of manifest error unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s Lender's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
Samples: Loan and Security Agreement (Bakers Footwear Group Inc)
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 FacilitiesRevolving Credit.
(b) The Administrative Agent shall 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 and each the 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 and the account of each Lender Lenders 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 the Lenders for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the Borrower is obligated hereunder are payable on demanddemand (accompanied by reasonable back-up documentation therefor). In the determination of Availability or Aggregate Availability, the Administrative Agent may deem fees, service charges, accrued interestinterest (except for interest charged on Eurodollar Loans, which, absent the occurrence of an Event of Default, shall be charged on the maturity date of the Eurodollar contract), 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeBorrower, may charge any DDA or advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Lender the Lenders is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Borrowing Base's being exceeded, provided, that Agent furnishes the Borrower with prior notice of any charge on account of fees, service charges and other payments to which the Agent or the Lenders is entitled. Such action on Notwithstanding the part of foregoing, the Administrative Agent shall not constitute a waiver of the Administrative Agent’s rights and each endeavor to comply with Borrower’s obligations under Section 2.13(b)request to make such charge either to a DDA or to the Loan Account. Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.8(e) shall bear interest interest, at the interest rate then and thereafter applicable to Base Margin Loans. Such action on the part of the Agent shall not constitute a waiver of the Agent's right or the Borrower’s obligations under Section 2.10(b).
(f) In Any statement rendered by the Agent or the Lenders to the Borrower concerning the Liabilities shall, 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 correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection thereto within thirty forty-five (3045) days from after the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent's and Lender’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
Samples: Loan and Security Agreement (Wild Oats Markets Inc)
The Loan Account. (a) An account (“Loan Account”"LOAN ACCOUNT") shall be opened on the books of the Administrative Agent Lender in which a record shall be kept of all loans and advances the initial loan advance made under the Credit Facilitiesthis Agreement.
(b) The Administrative Agent Lender shall also keep a record (either in separate from the Loan Account or elsewhereAccount, in such manner, as the Administrative Agent Lender 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 Lender or any Lender is disgorged for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the 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 AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under make such Cure Payments as the Credit Facilities any interestLender elects to make, 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 therebyin its sole discretion. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative Agent’s Lender's rights and each the Borrower’s 's obligations under Section 2.13(b)this Agreement. Any amount which is added to paid by the principal balance Lender as a Cure Payment shall constitute a portion of the Loan Account as provided in this Section 2.10(e) Liabilities for all purposes, shall bear interest from the date of the Lender's payment thereof at the interest rate then and thereafter applicable to Base Margin Loansthe Loan, and all Cure Payments are due and payable in full ON DEMAND.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s Lender's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“hereinafter, the "Loan Account”") shall be opened on the books of the Administrative Agent Agent, in which Loan Account a record shall may be kept of all loans made by the Lenders to the Borrowers under or pursuant to the Revolving Credit and advances made under the Credit Facilitiesof all payments thereon.
(b) The Administrative Agent shall 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 Agents and each Lender on account of the Liabilities under the Revolving Credit 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, and 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 the Borrowers are 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeLead Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Administrative Agent or any Lender is entitled from any Borrower pursuant hereto (including, without limitation, any payment of principal and/or interest with respect to the Term Loan) and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced 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)in Availability's being exceeded. Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e) Subsection shall bear interest at the interest rate then and thereafter applicable from time to Base Margin Loanstime to the unpaid principal balance of the Loan Account.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Lead Borrower concerning the Liabilities shall be considered correct and accepted by each Borrower the Borrowers and shall be conclusively binding upon each Borrower the Borrowers unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection thereto within thirty sixty (3060) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s 's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
Samples: Loan and Security Agreement (Dynamics Research Corp)
The Loan Account. (a) An account (“Loan Account”) shall be opened on the books of the Administrative Agent Lender in which Loan Account a record shall may be kept of all loans and advances made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(b) The Administrative Agent shall Lender may also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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, and 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 the Borrowers are obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 or deposits as having been advanced under the Revolving Credit Facilities whether or not if such amounts are then due and payablepayable inclusive of deposits for fees whether incurred at the time of deposit or as duly accounted for in accordance with the terms set forth herein (provided, however, that fees which are earned hereunder but not yet due and payable shall not be deemed as having been advanced under the Revolving Credit).
(e) The Administrative AgentLender, without the request of the Borrowers’ Representative, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any Borrower the Borrowers pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin an Overadvance. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative AgentLender’s rights and each Borrower’s obligations under Section 2.13(b1-7(b), below. 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 from time to Base Margin Loanstime to the unpaid principal balance of the Loan Account.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrowers concerning the Liabilities shall be considered correct and accepted by each Borrower the Borrowers and shall be conclusively binding upon each Borrower the Borrowers unless the Borrowers’ Representative provides Borrowers provide the Administrative Agent Lender with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative AgentLender’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“Loan Account”"LOAN ACCOUNT") shall be opened on the books of the Administrative Agent in which a Agent. A record shall may be kept in the Loan Account of all loans and advances made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(b) The Administrative Agent shall 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 any other debits amounts owed to the Administrative Agent Agent, the SwingLine Lender and each Lender on account of the Liabilities and of all credits against all 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 Account of each Lender of the items giving rise to such creditsamounts so credited. 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 finally paid shall be a Liability and, if arising under the Credit Facilities, and 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 the Borrowers are 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 Revolving Credit, whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeLead Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Lender is entitled from any Borrower the Borrowers pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin the Borrowing Base being exceeded. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s 's rights and each Borrower’s or the Borrowers' obligations under Section 2.13(b2.9(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.7(e) shall bear interest , subject to Section 2.10(d), at the interest rate then and thereafter applicable to Base Margin LoansRate.
(f) In Any statement rendered by the Agent or any Lender to the Borrowers concerning the Liabilities shall, 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 correct and accepted by each Borrower the Borrowers and shall be conclusively binding upon each Borrower the Borrowers unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection thereto within thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s 's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“Loan Account”"LOAN ACCOUNT") shall be opened on the books of the Administrative Agent in which a Lender. A record shall may be kept in the Loan Account of all loans and advances made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(b) The Administrative Agent shall Lender may also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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, and 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 the Borrower is obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Borrowing Base's being exceeded. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative Agent’s Lender's rights and each Borrower’s 's obligations under Section 2.13(b2-8(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2-6(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loansinterest.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s Lender's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
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 Revolving Credit Facilities(including, without limitation, Swingline Loans).
(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 Revolving Credit Lender on account of the Liabilities from the Borrower 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 the Agent or Revolving Credit Lender entitled thereto 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 Revolving Credit Lender or is disgorged for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the 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’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Revolving Credit Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan may result thereby; provided that the Administrative Agent shall not charge the Loan Account for any third-party expenses incurred by the Agent (such as fees for attorneys, appraisers and commercial finance examinations) without first having furnished the Borrower with a copy of the invoice therefor two (2) Business Days prior to the date that the Loan Account is to be so charged. Any such advance shall be deemed a Base Margin Loan. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s rights and each the Borrower’s obligations under Section 2.13(b2.11(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. The Administrative Agent shall promptly furnish the Borrower with a detailed statement itemizing any amounts so charged to the Loan Account.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Revolving Credit Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall shall, absent manifest error, be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection thereto within thirty twenty (3020) days from the mailing receipt by the Borrower of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
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 FacilitiesRevolving Credit.
(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 FacilitiesRevolving Credit, 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 Revolving 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 Revolving 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(b2.11(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.9(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 correct and accepted by each Borrower and shall be conclusively binding upon each Borrower unless the Borrowers’ Representative provides the Administrative Agent with written objection thereto within thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
Samples: Loan and Security Agreement (Casual Male Retail Group Inc)
The Loan Account. (a) a An account (“"Loan Account”") shall be opened on the books of the Administrative Agent Lender in which a record shall be kept of all loans and advances made under the Credit FacilitiesRevolving Credit.
(b) b The Administrative Agent Lender shall also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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) 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, and shall be added to the Loan Account, whether or not the item so charged back or not so paid is returned.
(d) d Except as otherwise provided herein, all fees, service charges, costs, and expenses for which any the Borrower is obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) e The Administrative AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment (including, without limitation, with respect to the Term Loan) to which any Agent or any Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Availability's being exceeded. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative Agent’s Lender's rights and each Borrower’s 's obligations under Section 2.13(b2-8(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e) 4-4 shall bear interest at the interest rate then and thereafter applicable to Base Margin Loansloans and advances under the Revolving Credit.
(f) In the absence of manifest error, a f Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower absent manifest error, unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s Lender's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
Samples: Loan and Security Agreement (Harrys Farmers Market Inc)
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 FacilitiesRevolving Credit.
(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 Revolving Credit 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(ed) The Administrative Agent, without the request of the Borrowers’ RepresentativeLead Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any Revolving Credit 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 's rights and each Borrower’s 's obligations under Section 2.13(b2:2-12(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2:2-10(d) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loans.
(fe) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Revolving Credit Lender to the Borrowers’ Representative Lead Borrower concerning the Liabilities shall be considered correct and accepted by each Borrower and shall be conclusively binding upon each Borrower unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection thereto within thirty sixty (3060) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s 's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“Loan Account”) shall may be opened on the books of the Administrative Agent in which a with respect to the Loans. A record shall may be kept in the Loan Account of all loans and advances Loans made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(b) The Administrative Agent shall may also keep a record (in 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, and 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 the 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’ RepresentativeBorrower, may advance under the Credit Facilities Revolving Credit, any interest, fee, service charge, or other payment to which any the Agent or any Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Availability being exceeded. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s or any Lender’s rights and each Borrower’s obligations under Section 2.13(b2-9(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2-7(e) shall bear interest interest, subject to Section 2-10(f), at the interest rate then and thereafter applicable to Base Margin LoansEurodollar Rate.
(f) In the absence of Absent manifest error, a any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection thereto within thirty (30) days from the mailing receipt of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
Samples: Secured Superpriority Debtor in Possession Loan, Security and Guaranty Agreement (Aeropostale Inc)
The Loan Account. (a) An account (“Loan Account”) shall be opened on the books of the Administrative Agent Lender in which a record shall be kept of all loans and advances made under the Credit FacilitiesRevolving Credit.
(b) The Administrative Agent Lender shall also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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 Lender or any Lender is disgorged for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 Lender 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative AgentLender, without the request of the Borrowers’ RepresentativeLead Borrower, may advance under the Revolving 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 Lender shall not constitute a waiver of the Administrative AgentLender’s rights and each Borrower’s the Borrowers’ obligations under Section 2.13(b2.10(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.8(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Prime Rate Loans.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Lead Borrower concerning the Liabilities shall be considered correct and accepted by each Borrower and shall be conclusively binding upon each Borrower unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent Lender with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative AgentLender’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“Loan Account”"LOAN ACCOUNT") shall be opened on the books of the Administrative Agent in which a Agent. A record shall may be kept in the Loan Account of all loans and advances Loans made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(b) The Administrative Agent shall 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 any other debits amounts owed to the Administrative Agent Agent, the SwingLine Lender and each Lender on account of the Liabilities and of all credits against all 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 Account of each Lender of the items giving rise to such creditsamounts so credited. 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 finally paid shall be a Liability and, if arising under the Credit Facilities, and 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 the Borrowers are 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 Revolving Credit, whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeLead Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any other
(f) Any statement rendered by the 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 Borrowers concerning 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 Liabilities shall, 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 correct and accepted by each Borrower the Borrowers and shall be conclusively binding upon each Borrower the Borrowers unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection thereto within thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s 's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“Loan Account”hereinafter, the "LOAN ACCOUNT") shall may be opened on the books of the Administrative Agent Lender, in which Loan Account a record shall may be kept of all loans made by the Lender to the Borrower under or pursuant to this Agreement and advances made under the Credit Facilitiesof all payments thereon.
(b) The Administrative Agent shall Lender may also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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, and 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 the Borrower is obligated hereunder are payable on demandON DEMAND. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Availability's being exceeded. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative Agent’s Lender's rights and each Borrower’s obligations under Section 2.13(b1-8(c), below. Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e) Subsection shall bear interest at the interest rate then and thereafter applicable from time to Base Margin Loanstime to the unpaid principal balance of the Loan Account.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s Lender's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
Samples: Loan and Security Agreement (Seachange International Inc)
The Loan Account. (a) An account (“"Loan Account”") shall be opened on the books of the Administrative Agent in which a Lender. A record shall may be kept in the Loan Account of all loans and advances made under the Credit Facilities.or pursuant to this Agreement and of all payments thereon. -------------------------------------------------------------------------------- Page 33 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- BANKBOSTON RETAIL FINANCE INC. --------------------------------------------------------------------------------
(b) The Administrative Agent shall Lender may also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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, and 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 the Borrowers are obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative AgentLender, without the request of the Borrowers’ Representative, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any Borrower the Borrowers pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Borrowing Base's being exceeded. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative Agent’s Lender's rights and each Borrower’s Borrowers' obligations under Section 2.13(b2-8(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2-6(e) shall bear interest interest, subject to Section 2-9(f), at the interest rate then and thereafter applicable to Base Margin LoansRate.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrowers concerning the Liabilities shall be considered correct and accepted by each Borrower the Borrowers and shall be conclusively binding upon each Borrower the Borrowers unless the Borrowers’ Representative provides Borrowers provide the Administrative Agent Lender with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s Lender's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“Loan 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 FacilitiesRevolving Credit.
(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 Revolving Credit 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 Revolving Credit 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 Revolving Credit Lender or is disgorged for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeLead Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Revolving Credit 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 's rights and each Borrower’s 's obligations under Section 2.13(b2.11(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.9(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loans.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Revolving Credit Lender to the Borrowers’ Representative Lead Borrower concerning the Liabilities shall be considered correct and accepted by each Borrower Loan Party and shall be conclusively binding upon each Borrower Loan Party unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s 's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (the “Loan Account”) shall be opened on the books of the Administrative Agent Lender in which a record shall be kept of all loans and advances made under the Credit FacilitiesRevolving Credit.
(b) The Administrative Agent Lender shall also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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 Lender for the account of each the 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 Lender or any Lender is disgorged for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the Borrower is obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any the 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 Lender shall not constitute a waiver of the Administrative AgentLender’s rights and each the Borrower’s obligations under Section 2.13(b2.11(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.9(e) shall bear interest at the interest rate then and thereafter applicable to Base Prime Margin Loans.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty Twenty (3020) days from the mailing of such statementstatement to the Borrower, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative AgentLender’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“Loan Account”"LOAN ACCOUNT") shall be opened on the books of the Administrative Agent Lender in which a record shall be kept of all loans and advances made under the Credit FacilitiesRevolving Credit.
(b) The Administrative Agent Lender shall also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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 Lender or any Lender is disgorged for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the Borrower is obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any Lender is entitled from any the 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 Lender 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...April 11, a statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative concerning the Liabilities shall be considered correct and accepted by each Borrower and shall be conclusively binding upon each Borrower unless the Borrowers’ Representative provides the Administrative Agent with written objection thereto within thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.2003..
Appears in 1 contract
The Loan Account. (a) An account (“Loan Account”) shall be opened on the books of the Administrative Agent Lender in which a record shall be kept kept, in accordance with the Lender’s usual practice, of all loans loans, advances and advances financial accommodations made under the Credit FacilitiesRevolving Credit.
(b) The Administrative Agent Lender shall also keep a written record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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 receipt of 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, and 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 the Borrower is obligated hereunder are payable on demanddemand (accompanied by reasonable supporting back-up documentation therefor). In the determination of Availability or Aggregate Availability, the Administrative Agent Lender may deem fees, service charges, accrued interestinterest (except for interest charged on Eurodollar Loans, which, absent the occurrence of an Event of Default, shall be charged on the maturity date of the Eurodollar contract), 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may charge any DDA or advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Borrowing Base’s being exceeded, provided, that the Lender furnishes the Borrower with prior notice of any charge on account of fees, service charges and other payments to which the Lender is entitled. Such action on Notwithstanding the part of foregoing, the Administrative Agent Lender shall not constitute a waiver of the Administrative Agent’s rights and each endeavor to comply with Borrower’s obligations under Section 2.13(b)direction as to whether such charge should be made to a DDA or to the Loan Account. Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.8(e) shall bear interest interest, at the interest rate then and thereafter applicable to Base Margin Loans. Such action on the part of the Lender shall not constitute a waiver of the Lender’s right or the Borrower’s obligations under Section 2.10(b).
(f) In Any statement rendered by the Lender to the Borrower concerning the Liabilities shall, 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 correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty forty-five (3045) days from after the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative AgentLender’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
Samples: Loan and Security Agreement (Charlotte Russe Holding Inc)
The Loan Account. (a) An account (“"Loan Account”") shall be opened on the books of the Administrative Agent Lender in which a record shall be kept of all loans and advances made under the Credit FacilitiesRevolving Credit.
(b) The Administrative Agent Lender shall also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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 Lender for the account of each the 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 Lender or any Lender is disgorged for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the Borrower is obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any the 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 Lender shall not constitute a waiver of the Administrative Agent’s Lender's rights and each the Borrower’s 's obligations under Section 2.13(b2.10(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.8(e) shall bear interest at the interest rate then and thereafter applicable to Base Prime Margin Loans.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty Ninety (3090) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s Lender's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
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The Loan Account. (a) An account (“Loan Account”"LOAN ACCOUNT") shall be opened on the books of the Administrative Agent in which a Agent. A record shall may be kept in the Loan Account of all loans and advances made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(b) The Administrative Agent shall 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 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 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, and 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 the 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Borrowing Base's being exceeded. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s 's rights and each Borrower’s 's obligations under Section 2.13(b2-8(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2-6(e) shall bear interest , subject to Section 2-9(f), 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 correct and accepted by each Borrower and shall be conclusively binding upon each Borrower unless the Borrowers’ Representative provides the Administrative Agent with written objection thereto within thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.Mar-
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The Loan Account. (a) An account (“Loan Account”"LOAN ACCOUNT") shall be opened on the books of the Administrative Agent in which a Lender. A record shall may be kept in the Loan Account of all loans and advances made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(b) The Administrative Agent shall Lender may also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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, and 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 the Borrower is obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Borrowing Base's being exceeded. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative Agent’s Lender's rights and each Borrower’s 's obligations under Section 2.13(b2-8(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2-6(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loansinterest.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty ninety (3090) days from the mailing of date Borrower receives such statement, which written objection shall indicate, with particularity, the reason for such objection. In , except in the absence case of manifest errorfraud, in which case, the Borrower may object to any such statement anytime prior to the End Date. The Loan Account and the Administrative Agent’s Lender's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
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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 loans, advances and advances payments made under the Revolving Credit Facilitiesand the Term Loan.
(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 Revolving Credit Lender or Term Loan Lender, as applicable, 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 Revolving Credit Lender or Term Loan Lender, as applicable, 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 Revolving Credit Lender or any Term Loan Lender, as applicable, for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the Borrowers are 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeLead Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Revolving Credit Lender or any Term Loan Lender, as applicable, is entitled from any Borrower the Borrowers pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan OverAdvance 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 the Borrowers’ obligations under Section 2.13(b2.10(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.8(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loans.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Revolving Credit Lender or any Term Loan Lender, as applicable, to the Borrowers’ Representative Borrowers concerning the Liabilities shall be considered correct and accepted by each Borrower the Borrowers and shall be conclusively binding upon each Borrower the Borrowers unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection thereto within thirty Thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
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The Loan Account. (a) An account (“"Loan Account”") shall be opened on the books of the Administrative Agent in which a Agent. A record shall may be kept in the Loan Account of all loans and advances made under or pursuant to the Revolving Credit Facilitiesand of all payments thereon.
(b) The Administrative Agent shall 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 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, and 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 the 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Administrative Agent or any Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Borrowing Base's being exceeded. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s 's rights and each Borrower’s 's obligations under Section 2.13(b2-9(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2-7(e) shall bear interest as provided at the interest then applicable rate then and thereafter applicable to Base Margin Loansfor loans under the Revolving Credit.
(f) In the absence of manifest error, a any statement rendered by the Administrative Agent or any Working Capital Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection thereto within thirty Thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s 's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“Loan Account”) shall be opened on the books of the Administrative Agent Lender in which Loan Account a record shall may be kept of all loans and advances Advances made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(b) The Administrative Agent shall Lender may also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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 credits such that, without limitation, 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, and 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 the Borrowers are obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 or deposits as having been advanced under the Revolving Credit Facilities whether or not if such amounts are then due and payablepayable exclusive of deposits for fees whether incurred at the time of deposit or as duly accounted for in accordance with the terms set forth herein.
(e) The Administrative AgentLender, without the request of the Borrowers’ Representativeany Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any the Lender is entitled from any Borrower the Borrowers pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin an Overadvance. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative AgentLender’s rights and each Borrower’s obligations under Section 2.13(b1-7(b), below. 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 from time to Base Margin Loanstime to the unpaid principal balance of the Loan Account.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrowers in writing concerning the Liabilities shall be considered correct and accepted by each Borrower the Borrowers and shall be conclusively binding upon each Borrower the Borrowers unless Borrowers provide the Borrowers’ Representative provides the Administrative Agent Lender with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative AgentLender’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
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The Loan Account. (a) An account (“"Loan Account”") shall be opened on the books of the Administrative Agent , in which Loan Account a record shall may be kept of all loans and advances made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(b) The Administrative Agent shall 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 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, and 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 the 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 Revolving Credit Facilities whether or not if such amounts are were then due and payablepayable after giving effect to any applicable grace period.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Lender is entitled from any the Borrower pursuant hereto which is due and unpaid after the expiration of the applicable grace period and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Availability's being exceeded. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s Lender's rights and each Borrower’s obligations under Section 2.13(b210(b), below. 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 from time to Base Margin Loanstime to the unpaid principal balance of the Loan Account.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection thereto within thirty twenty (3020) days Business Days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s 's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
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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 FacilitiesRevolving Credit.
(b) The Administrative Agent shall 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 and each the 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 and the account of each Lender Lenders 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 the Lenders for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the Borrower is obligated hereunder are payable on demanddemand (accompanied by reasonable back-up documentation therefor). In the determination of Availability or Aggregate Availability, the Administrative Agent may deem fees, service charges, accrued interestinterest (except for interest charged on LIBOR Loans, which, absent the occurrence of an Event of Default, shall be charged on the maturity date of the LIBOR contract), 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeBorrower, may charge any DDA or advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Lender the Lenders is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Borrowing Base’s being exceeded, provided, that Agent furnishes the Borrower with prior notice of any charge on account of fees, service charges and other payments to which the Agent or the Lenders is entitled. Such action on the part of the Administrative The Agent shall not constitute a waiver of provide notice to the Administrative Agent’s rights Borrower prior to making any such charge to any DDA or to the Loan Account and each shall endeavor to comply with Borrower’s obligations under Section 2.13(b)request to make such charge either to a DDA or to the Loan Account. Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.8(e) shall bear interest interest, at the interest rate then and thereafter applicable to Base Margin Loans. Such action on the part of the Agent shall not constitute a waiver of the Agent’s right or the Borrower’s obligations under Section 2.10(b).
(f) In Any statement rendered by the Agent or the Lenders to the Borrower concerning the Liabilities shall, 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 correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection thereto within thirty forty-five (3045) days from after the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s and Lender’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (hereinafter, the “Loan Account”) shall be opened on the books of the Administrative Agent Agent, in which Loan Account a record shall may be kept of all loans Revolving Credit Loans made by the Lenders to the Borrowers under or pursuant to the Revolving Credit and advances made under the Credit Facilitiesof all payments thereon.
(b) The Administrative Agent shall 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 and each Lender on account of the Liabilities under the Revolving Credit 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, and 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 the Borrowers are obligated hereunder are payable on demandwithin thirty (30) days of notice from the Administrative Agent to the Lead Borrower. 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeLead Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Administrative Agent or any Lender is entitled from any Borrower pursuant hereto (including, without limitation, any payment of principal and/or interest with respect to the Term Loan) and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result thereby. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agentin Availability’s rights and each Borrower’s obligations under Section 2.13(b)being exceeded. Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e) Subsection shall bear interest at the interest rate then and thereafter applicable from time to Base Margin Loanstime to the unpaid principal balance of the Loan Account.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Lead Borrower concerning the Liabilities shall be considered correct and accepted by each Borrower the Borrowers and shall be conclusively binding upon each Borrower the Borrowers unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection thereto within thirty sixty (3060) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“Loan 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 FacilitiesRevolving Credit.
(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 Revolving Credit 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 interest 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ Representativeany Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Revolving Credit 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 's rights and each any Borrower’s 's obligations under Section 2.13(b2.10(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.8(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loans.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Revolving Credit Lender to the Borrowers’ Representative Company concerning the Liabilities shall be considered correct and accepted by each Borrower Borrowers and shall be conclusively binding upon each Borrower unless the Borrowers’ Representative Borrowers provides the Administrative Agent with written objection thereto within thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent’s 's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“Loan Account”"LOAN ACCOUNT") shall be opened on the books of the Administrative Agent in which a Agent. A record shall be kept in the Loan Account of all loans and advances made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(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 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, and 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 the Borrowers are 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeLead Borrower, 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 correct and accepted by each Borrower and shall be conclusively binding upon each Borrower unless the Borrowers’ Representative provides the Administrative Agent with written objection thereto within thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.the
Appears in 1 contract
Samples: Loan and Security Agreement (Sports Authority Inc /De/)
The Loan Account. (a) An account (“Loan Account”"LOAN ACCOUNT") shall be opened on the books of the Administrative Agent in which a Agent. A record shall may be kept in the Loan Account of all loans and advances Loans made under the Credit Facilitiesor pursuant to this Agreement and of all payments thereon.
(b) The Administrative Agent shall 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 any other debits amounts owed to the Administrative Agent Agent, the SwingLine Lender and each Lender on account of the Liabilities and of all credits against all 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 Account of each Lender of the items giving rise to such creditsamounts so credited. 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 finally paid shall be a Liability and, if arising under the Credit Facilities, and 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 the Borrowers are 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 Revolving Credit, whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeLead Borrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Lender is entitled from any Borrower the Borrowers pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin the Borrowing Base being exceeded. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s 's rights and each Borrower’s or the Borrowers' obligations under Section 2.13(b2.9(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.7(e) shall bear interest interest, subject to Section 2.10(d), at the interest rate then and thereafter applicable to Base Margin LoansRate.
(f) In Any statement rendered by the Agent or any Lender to the Borrowers concerning the Liabilities shall, 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 correct and accepted by each Borrower the Borrowers and shall be conclusively binding upon each Borrower the Borrowers unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection thereto within thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s 's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
The Loan Account. (a) An account (“Loan Account”) shall be opened on the books of the Administrative Agent Lender in which a record shall be kept of all loans and advances made under the Credit FacilitiesRevolving Credit.
(b) The Administrative Agent Lender shall also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent Lender 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, and 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 the Borrower is obligated hereunder are payable on demand. In the determination of Availability or Aggregate Availability, the Administrative Agent Lender 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative AgentLender, without the request of the Borrowers’ RepresentativeBorrower, may advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any Agent or any Lender is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Borrowing Base’s being exceeded. Such action on the part of the Administrative Agent Lender shall not constitute a waiver of the Administrative AgentLender’s rights and each Borrower’s obligations under Section 2.13(b2.9(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.7(e) shall bear interest at the interest rate then and thereafter applicable to Base Margin Loansloans and advances under the Revolving Credit.
(f) In the absence of manifest error, a Any statement rendered by the Administrative Agent or any Lender to the Borrowers’ Representative Borrower concerning the Liabilities shall be considered correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower in the absence of manifest error unless the Borrowers’ Representative Borrower provides the Administrative Agent Lender with written objection thereto within thirty twenty (3020) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative AgentLender’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
Samples: Loan and Security Agreement (Bakers Footwear Group Inc)
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 FacilitiesRevolving Credit.
(b) The Administrative Agent shall 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 and each the 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 and the account of each Lender Lenders 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 the Lenders for any reason or is not so paid shall be a Liability and, if arising under the Credit Facilities, and 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 the Borrower is obligated hereunder are payable on demanddemand (accompanied by reasonable back-up documentation therefor). In the determination of Availability or Aggregate Availability, the Administrative Agent may deem fees, service charges, accrued interestinterest (except for interest charged on LIBOR Loans, which, absent the occurrence of an Event of Default, shall be charged on the maturity date of the LIBOR contract), 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 Revolving Credit Facilities whether or not such amounts are then due and payable.
(e) The Administrative Agent, without the request of the Borrowers’ RepresentativeBorrower, may charge any DDA or advance under the Revolving Credit Facilities any interest, fee, service charge, or other payment to which any the Agent or any Lender the Lenders is entitled from any the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that an OverLoan such amount so advanced may result therebyin Borrowing Base’s being exceeded, provided, that Agent furnishes the Borrower with prior notice of any charge on account of fees, service charges and other payments to which the Agent or the Lenders is entitled. Such action on the part of the Administrative The Agent shall not constitute a waiver of provide notice to the Administrative Agent’s rights Borrower prior to making any such charge to any DDA or to the Loan Account and each shall endeavor to comply with Borrower’s obligations under Section 2.13(brequest to make such charge either to a DDA or to the Loan Account (so long as, in the case of a DDA, the Agent has the right and authority to charge such DDA). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.10(e2.8(e) shall bear interest interest, at the interest rate then and thereafter applicable to Base Margin Loans. Such action on the part of the Agent shall not constitute a waiver of the Agent’s right or the Borrower’s obligations under Section 2.10(b).
(f) In Any statement rendered by the Agent or the Lenders to the Borrower concerning the Liabilities shall, 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 correct and accepted by each the Borrower and shall be conclusively binding upon each the Borrower unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection thereto within thirty forty-five (3045) days from after the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent’s and Lender’s books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.
Appears in 1 contract
