DETERMINATION OF THE BALANCE. In any of the circumstances of ordinary or accelerated maturity or rescindment, SEPI or the Fund shall, in accordance with the provisions of Clause 14.4, perform a settlement calculation of the credit accounts as referred to in Clause 15. It is explicitly acknowledged that for the purposes of enforceability, the payable, due and enforceable amount owed by the Beneficiaries and Guarantors shall be understood to be the balance of the accounts referred to in Clause 15 derived from the settlement calculation issued for this purpose by SEPI or the Fund, provided that it is placed on record in a reliable document that the settlement calculation was performed in the manner agreed by the Parties in this Agreement, and that the balance coincides with that recorded in the corresponding account opened for the Borrower in connection with the Finance. SEPI shall notify the Borrower of the enforceable amount resulting from the settlement calculation.
