Common use of Loan Account and Accounting Clause in Contracts

Loan Account and Accounting. Agent shall maintain a loan account (the "Loan Account") on its books to record: all Advances and the Term Loans, all payments made by Borrowers, and all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations. All entries in the Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on Agent's most recent printout or other written statement, shall, absent manifest error, be presumptive evidence of the amounts due and owing to Agent and Lenders by each Borrower; provided that any failure to so record or any error in so recording shall not limit or otherwise affect any Borrower's duty to pay the Obligations. Agent shall render to Borrower Representative a monthly accounting of transactions with respect to the Loans setting forth the balance of the Loan Account as to each Borrower. Unless Borrower Representative notifies Agent in writing of any objection to any such accounting (specifically describing the basis for such objection), within thirty (30) days after the date thereof, each and every such accounting shall (absent manifest error) be deemed final, binding and conclusive upon Borrowers in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by Borrowers.

Appears in 2 contracts

Samples: Credit Agreement (Green Mountain Coffee Inc), Credit Agreement (Wpi Group Inc)

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Loan Account and Accounting. Agent shall maintain a loan account (the "Loan AccountLOAN ACCOUNT") on its books to record: (a) all Advances and the Term advances of Loans, (b) all payments made by BorrowersBorrower, and (c) all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations. All entries in the Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on Agent's most recent printout or other written statement, shall, absent manifest error, shall be presumptive evidence of the amounts due and owing to Agent and Lenders by each Borrower; provided PROVIDED that any failure to so record or any error in so recording shall not limit or otherwise affect any Borrower's duty to pay the Obligations. Agent shall render to Borrower Representative and the other Lenders a monthly accounting of transactions with respect to the Loans setting forth the balance of the Loan Account as to each BorrowerAccount. Unless Borrower Representative notifies Agent in writing of any objection to any such accounting (specifically describing the basis for such objection), within thirty (30) days after the date thereof, each and every such accounting shall (absent manifest error) be deemed final, binding and conclusive upon Borrowers Borrower in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by BorrowersBorrower.

Appears in 2 contracts

Samples: Credit Agreement (Parlux Fragrances Inc), Credit Agreement (Parlux Fragrances Inc)

Loan Account and Accounting. Agent shall maintain a loan account (the "Loan Account") on its books to record: (a) all Advances and the Term Loans, (b) all payments made by BorrowersBorrower, and (c) all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations. All entries in the Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on Agent's most recent printout or other written statement, shall, absent manifest error, shall be presumptive evidence of the amounts due and owing to Agent and Lenders by each Borrower; provided that any failure to so record or any error in so recording shall not limit or otherwise affect any Borrower's duty to pay the Obligations. Agent shall render to Borrower Representative a monthly accounting of transactions with respect to the Loans setting forth the balance of the Loan Account as to each Borrower. Unless Borrower Representative notifies Agent in writing of any objection to any such accounting (specifically describing the basis for such objection), within thirty (30) days after the date thereof, each and every such accounting shall (absent manifest error) be deemed final, binding and conclusive upon Borrowers Borrower in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by BorrowersBorrower.

Appears in 2 contracts

Samples: Credit Agreement (Code Alarm Inc), Credit Agreement (Code Alarm Inc)

Loan Account and Accounting. Agent shall maintain a loan account (the "Loan Account") on its books to record: (a) all Advances and the Term LoansLetter of Credit Obligations, (b) all payments made by BorrowersBorrower, and (c) all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations. All entries in the Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on Agent's most recent printout or other written statement, shall, absent manifest error, shall be presumptive evidence of the amounts due and owing to Agent and Lenders by each Borrower; provided that any failure to so record or any error in so recording shall not limit or otherwise affect any Borrower's duty to pay the Obligations. Agent shall render to Borrower Representative a monthly accounting of transactions with respect to the Loans Revolving Loan setting forth the balance of the Loan Account as to each BorrowerAccount. Unless Borrower Representative notifies Agent in writing of any objection to any such accounting (specifically describing the basis for such objection), within thirty (30) days after the date Borrower's receipt thereof, each and every such accounting shall (absent manifest error) be deemed final, binding and conclusive upon Borrowers Borrower in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by BorrowersBorrower.

Appears in 2 contracts

Samples: Credit Agreement (Radiologix Inc), Credit Agreement (American Physician Partners Inc)

Loan Account and Accounting. The Agent shall maintain a loan account (the "Loan Account") on its books to record: record all Advances and the Term Loans, all payments made by the Borrowers, and all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations. All entries in the Loan Account shall be made in accordance with the Agent's ’s customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on the Agent's ’s most recent printout or other written statement, shall, absent manifest errorclear and convincing evidence to the contrary, be presumptive evidence of the amounts due and owing to each Lender and the Agent and Lenders by each Borrowerthe Borrowers; provided that any failure to so record or any error in so recording shall not limit or otherwise affect any Borrower's the Borrowers’ duty to pay the Obligations. The Agent shall render to the Borrower Representative a monthly accounting of transactions with respect to the Loans setting forth the balance of the Loan Account as to each BorrowerAccount. Unless the Borrower Representative notifies the Agent in writing of any objection to any such accounting (specifically describing the basis for such objection), within thirty (30) days after the date thereof, each and every such accounting shall (absent manifest clear and convincing error) be deemed final, binding and conclusive upon Borrowers the Credit Parties in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by the Borrowers.

Appears in 2 contracts

Samples: Security Agreement (Curative Health Services Inc), Credit Agreement (Curative Health Services Inc)

Loan Account and Accounting. Agent Lender shall maintain a loan account (the "Loan Account") on its books to record: all Advances and the Term LoansRevolving Credit Advances, all payments made by Borrowers, and all other debits and credits as provided in this Agreement with respect to the Loans Revolving Loan or any other Obligations. All entries in the Loan Account shall be made in accordance with AgentLender's customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on AgentLender's most recent printout or other written statement, shall, absent manifest error, shall be presumptive evidence of the amounts due and owing to Agent and Lenders Lender by each Borrower; provided that any failure to so record or any error in so recording shall not limit or otherwise affect any Borrower's duty to pay the Obligations. Agent Lender shall render to Borrower Representative a monthly accounting of transactions with respect to the Loans Revolving Loan setting forth the balance of the Loan Account as to each Borrower. Unless Borrower Representative notifies Agent Lender in writing of any objection to any such accounting (specifically describing the basis for such objection), within thirty forty-five (3045) days after the date thereof, each and every such accounting shall (absent manifest error) be deemed final, binding and conclusive upon Borrowers in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Ringer Corp /Mn/)

Loan Account and Accounting. Agent Lender shall maintain a loan account (the "Loan Account") on its books to record: (a) all Revolving Credit Advances and the Term LoansLoan, (b) all payments made by BorrowersBorrower, and (c) all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations. All entries in the Loan Account shall be made in accordance with AgentLender's customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on AgentLender's most recent printout or other written statement, shall, absent manifest error, shall be presumptive evidence of the amounts due and owing to Agent and Lenders Lender by each Borrower; provided that any failure to so record or any error in so recording shall not limit or otherwise affect any Borrower's duty to pay the Obligations. Agent Lender shall render to Borrower Representative a monthly accounting of transactions with respect to the Loans setting forth the balance of the Loan Account as to each BorrowerAccount. Unless Borrower Representative notifies Agent Lender in writing of any objection to any such accounting (specifically describing the basis for such objection), within thirty (30) days after the date thereof, each and every such accounting shall (absent manifest error) be deemed final, binding and conclusive upon Borrowers Borrower in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by BorrowersBorrower.

Appears in 1 contract

Samples: Credit Agreement (Key Tronic Corp)

Loan Account and Accounting. Agent shall maintain a loan account (the "Loan AccountLOAN ACCOUNT") on its books to record: (a) all Advances and the Term Loans, Revolving Credit Advances; (b) all payments made by Borrowers, ; and (c) all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations. All entries in the Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on Agent's most recent printout or other written statement, shall, absent manifest error, shall be presumptive evidence of the amounts due and owing to Agent and Lenders by each Borrower; provided PROVIDED, that any failure to so record or any error in so recording shall not limit or otherwise affect any Borrower's duty to pay the Obligations. Agent shall render to Borrower Representative a monthly accounting of transactions with respect to the Loans setting forth the balance of the Loan Account as to each BorrowerBorrower for the immediately preceding month. Unless Borrower Representative notifies Agent in writing of any objection to any such accounting (specifically describing the basis for such objection), within thirty (30) 45 days after the date thereof, each and every such accounting shall (absent manifest error) be deemed final, binding and conclusive upon on Borrowers (absent manifest error) in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Track N Trail Inc)

Loan Account and Accounting. The Agent shall maintain a loan account (the "Loan Account") on its books to record: record all Advances and the Term Loans, all payments made by the Borrowers, and all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations. All entries in the Loan Account shall be made in accordance with the Agent's customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on the Agent's most recent printout or other written statement, shall, absent manifest errorclear and convincing evidence to the contrary, be presumptive evidence of the amounts due and owing to each Lender and the Agent and Lenders by each Borrowerthe Borrowers; provided that any failure to so record or any error in so recording shall not limit or otherwise affect any Borrower's the Borrowers' duty to pay the Obligations. The Agent shall render to the Borrower Representative a monthly accounting of transactions with respect to the Loans setting forth the balance of the Loan Account as to each BorrowerAccount. Unless the Borrower Representative notifies the Agent in writing of any objection to any such accounting (specifically describing the basis for such objection), within thirty (30) days after the date thereof, each and every such accounting shall (absent manifest clear and convincing error) be deemed final, binding and conclusive upon Borrowers the Credit Parties in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by the Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Curative Health Services Inc)

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Loan Account and Accounting. Agent shall maintain a loan account (the "Loan Account") on its books to record: (a) all Advances and the Term Loans, (b) all payments made by BorrowersBorrower, and (c) all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations. All entries in the Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on Agent's most recent printout or other written statement, shall, absent manifest error, shall be presumptive evidence of the amounts due and owing to Agent and Lenders by each Borrower; provided that any failure to so record or any error in so recording shall not limit or otherwise affect any Borrower's duty to pay the Obligations. Agent shall render to Borrower Representative a monthly accounting of transactions with respect to the Loans setting forth the balance of the Loan Account as to each BorrowerAccount. Unless Borrower Representative notifies Agent in writing of any objection to any such accounting (specifically describing the basis for such objection), within thirty (30) days after the date thereof, each and every such accounting shall (absent manifest error) be deemed final, binding and conclusive upon Borrowers Borrower in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by BorrowersBorrower.

Appears in 1 contract

Samples: Credit Agreement (Wilsons the Leather Experts Inc)

Loan Account and Accounting. Agent shall maintain a loan account (the "Loan Account") on its books to record: (a) all Advances and the Term Loans, Loan B (b) all payments made by BorrowersBorrower, and (c) all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations. All entries in the Loan Account shall be made in accordance with Agent's ’s customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on Agent's ’s most recent printout or other written statement, shall, absent manifest error, shall be presumptive evidence of the amounts due and owing to Agent and Lenders by each Borrower; provided that any failure to so record or any error in so recording shall not limit or otherwise affect any Borrower's ’s duty to pay the Obligations. Agent shall render to Borrower Representative a monthly accounting of transactions with respect to the Loans setting forth the balance of the Loan Account as to each BorrowerAccount. Unless Borrower Representative notifies Agent in writing of any objection to any such accounting (specifically describing the basis for such objection), within thirty (30) days after the date thereof, each and every such accounting shall (absent manifest error) be deemed final, binding and conclusive upon Borrowers Borrower in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by BorrowersBorrower.

Appears in 1 contract

Samples: Credit Agreement (Wilsons the Leather Experts Inc)

Loan Account and Accounting. Agent shall maintain a loan --------------------------- account (the "Loan Account") on its books to record: (a) all Advances and the Term Loans, (b) all ------------ payments made by BorrowersBorrower, and (c) all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations. All entries in the Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on Agent's most recent printout or other written statement, shall, absent manifest error, shall be presumptive evidence of the amounts due and owing to Agent and Lenders by each Borrower; provided that any failure to so record or any error in so recording -------- shall not limit or otherwise affect any Borrower's duty to pay the Obligations. Agent shall render to Borrower Representative a monthly accounting of transactions with respect to the Loans setting forth the balance of the Loan Account as to each BorrowerAccount. Unless Borrower Representative notifies Agent in writing of any objection to any such accounting (specifically describing the basis for such objection), within thirty (30) days after the date thereof, each and every such accounting shall (absent manifest error) be deemed final, binding and conclusive upon Borrowers Borrower in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by BorrowersBorrower.

Appears in 1 contract

Samples: Credit Agreement (Wilsons the Leather Experts Inc)

Loan Account and Accounting. Agent shall maintain a loan account (the "Loan Account") on its books to record: (a) all Advances and the Term LoansAdvances, (b) all payments made by BorrowersBorrower, and (c) all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations. All entries in the Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on Agent's most recent printout or other written statement, shall, absent manifest error, shall be presumptive evidence of the amounts due and owing to Agent and Lenders by each Borrower; provided that any failure to so record or any error in so recording shall not limit or otherwise affect any Borrower's duty to pay the Obligations. Agent shall render to Borrower Representative a monthly accounting of transactions with respect to the Loans setting forth the balance of the Loan Account as to each BorrowerAccount. Unless Borrower Representative notifies Agent in writing of any objection to any such accounting (specifically describing the basis for such objection), within thirty (30) days after the date thereof, each and every such accounting shall (absent manifest error) be deemed final, binding and conclusive upon Borrowers Borrower in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by BorrowersBorrower.

Appears in 1 contract

Samples: Credit Agreement (Renaissance Cosmetics Inc /De/)

Loan Account and Accounting. Agent shall maintain a loan account (the "Loan Account") on its books to record: all Advances and the Term Loans, all payments made by BorrowersBorrower, and all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations. All entries in the Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on Agent's most recent printout or other written statement, shall, absent manifest error, be presumptive evidence of the amounts due and owing to Agent and Lenders by each Borrower; provided that any failure to so record or any error in so recording shall not limit or otherwise affect any Borrower's duty to pay the Obligations. Agent shall render to Borrower Representative a monthly accounting of transactions with respect to the Loans setting forth the balance of the Loan Account as to each BorrowerAccount. Unless Borrower Representative notifies Agent in writing of any objection to any such accounting (specifically describing the basis for such objection), within thirty (30) days after the date thereof, each and every such accounting shall (absent manifest error) be deemed final, binding and conclusive upon Borrowers Borrower in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by BorrowersBorrower.

Appears in 1 contract

Samples: Credit Agreement (Green Mountain Coffee Roasters Inc)

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