Accounts prima facie evidence Clause Samples
The 'Accounts prima facie evidence' clause establishes that the accounts or financial records maintained by a party are accepted as initial proof of the facts they record, unless proven otherwise. In practice, this means that if there is a dispute regarding payments, balances, or transactions, the party's official accounts will be relied upon as evidence in legal or contractual proceedings unless the opposing party can provide sufficient evidence to challenge their accuracy. This clause streamlines dispute resolution by clarifying which records are presumed accurate, thereby reducing uncertainty and the burden of proof in financial disagreements.
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Accounts prima facie evidence. If the account maintained under Clause 11.4 shows an amount to be owing by the Obligors or a Security Party to the Issuer, that account shall be prima facie evidence that that amount is owing to the Issuer.
Accounts prima facie evidence. If the account maintained under Clause 15.4 shows an amount to be owing by the Borrowers or a Security Party to the Lender, that account shall be prima facie evidence, save in the case of manifest error, that amount is owing to the Lender.
Accounts prima facie evidence. If any accounts maintained under Clauses 16.9 and 16.10 show an amount to be owing by a Borrower or a Security Party to a Creditor Party, those accounts shall be prima facie evidence that that amount is owing to that Creditor Party.
Accounts prima facie evidence. If the account maintained under Clause 16.4 shows an amount to be owing by the Borrower or any other Security Party to the Lender, that account shall be prima facie evidence that that amount is owing to the Lender.
Accounts prima facie evidence. If any accounts maintained under Clauses 16.9 (Creditor Party accounts) and 16.10 (Agent’s memorandum account) show an amount to be owing by the Borrowers or a Security Party to a Creditor Party, those accounts shall, absent manifest error, be prima facie evidence that that amount is owing to that Creditor Party.
Accounts prima facie evidence. If any accounts maintained under Clauses 7 (Lender accounts) show an amount to be owing by the Borrower or a Security Party to the Lender, those accounts shall be prima facie evidence that that amount is owing to the Lender.
Accounts prima facie evidence. If any accounts maintained under Sections 17.9 show an amount to be owing by the Obligors to a Finance Party, those accounts shall be prima facie evidence that that amount is owing to that Finance Party.
Accounts prima facie evidence. If the account maintained under Clauses 20.4 shows an amount to be owing by the Borrowers or a Security Party to the Lender, that account shall be prima facie evidence that that amount is owing to the Lender.
Accounts prima facie evidence. In any legal action or proceedings arising out of or in connection with any Transaction Document, the entries made in the accounts maintained pursuant to clause 24.1 shall be prima facie evidence of the existence and amounts of the obligations of the Borrowers recorded therein.
Accounts prima facie evidence. The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section 2.09 shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Applicable Borrowers to repay the Loans in accordance with the terms of this Agreement.