Common use of Loan Account Charges\Credits; Reports Clause in Contracts

Loan Account Charges\Credits; Reports. Each Borrower hereby authorizes the Lender to charge the Loan Account of the Borrowers with the Loans and all other Obligations of the Borrowers under this Agreement or any other Loan Document. The Loan Account of the Borrowers will be credited in accordance with the provisions of this Agreement with all payments received by the Lender directly from the Borrowers or otherwise for the account of the Borrowers pursuant to this Agreement on the Business Day after such receipt. The Lender shall send the Borrower Representative statements in accordance with the Lender’s standard procedures. Any and all such periodic or other statements or reconciliations of the Loan Account shall, to the extent permitted by law, be final, binding and conclusive upon the Borrowers absent manifest error unless the Lender is notified to the contrary by the Borrower Representative within thirty (30) days after receipt thereof by the Borrower Representative. Such notice shall only be deemed an objection as to those items specifically objected to therein.

Appears in 2 contracts

Samples: Option Agreement (Peak Resorts Inc), Master Credit and Security Agreement (Peak Resorts Inc)

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Loan Account Charges\Credits; Reports. Each Borrower hereby authorizes the Lender to charge the Loan Account of the Borrowers with the Loans Loan and all other Obligations of the Borrowers under this Agreement or any other Loan Document. The Loan Account of the Borrowers will be credited in accordance with the provisions of this Agreement with all payments received by the Lender directly from the Borrowers or otherwise for the account of the Borrowers pursuant to this Agreement on the Business Day after such receipt. The Lender shall send the Borrower Representative statements in accordance with the Lender’s standard procedures. Any and all such periodic or other statements or reconciliations of the Loan Account shall, to the extent permitted by law, be final, binding and conclusive upon the Borrowers absent manifest error unless the Lender is notified to the contrary by the Borrower Representative within thirty (30) days after receipt thereof by the Borrower Representative. Such notice shall only be deemed an objection as to those items specifically objected to therein.

Appears in 2 contracts

Samples: Credit and Security Agreement (Peak Resorts Inc), Credit and Security Agreement (Peak Resorts Inc)

Loan Account Charges\Credits; Reports. Each Borrower hereby authorizes the Lender to charge the Loan Account of the Borrowers with the Loans Loan and all other Obligations of the Borrowers under this Agreement or any other Loan Document. The Loan Account of the Borrowers will be credited in accordance with the provisions of this Agreement with all payments received by the Lender directly from the Borrowers or otherwise for the account of the Borrowers pursuant to this Agreement on the Business Day after such receipt. The Lender shall send the 5 CORE/0503816.0513/125525037.8 Borrower Representative statements in accordance with the Lender’s standard procedures. Any and all such periodic or other statements or reconciliations of the Loan Account shall, to the extent permitted by law, be final, binding and conclusive upon the Borrowers absent manifest error unless the Lender is notified to the contrary by the Borrower Representative within thirty (30) 30 days after receipt thereof by the Borrower Representative. Such notice shall only be deemed an objection as to those items specifically objected to therein.

Appears in 1 contract

Samples: Master Credit and Security Agreement (Peak Resorts Inc)

Loan Account Charges\Credits; Reports. Each Borrower hereby authorizes the Lender Administrative Agent to charge the Loan Account of the Borrowers with the all Revolving Credit Loans and all other Obligations of the Borrowers under this Agreement or any other Loan Document. The Loan Account of the Borrowers will be credited in accordance with the provisions of this Agreement with all payments received by the Lender Administrative Agent directly from the Borrowers or otherwise for the account of the Borrowers pursuant to this Agreement on the Business Day after such receiptBorrowers. The Lender Administrative Agent shall send the Borrower Representative statements in accordance with the LenderAdministrative Agent’s standard procedures. Any and all such periodic or other statements or reconciliations of the Loan Account shall, to the extent permitted by law, shall be final, binding and conclusive upon the Borrowers in all respects, absent manifest error error, unless the Lender is notified to the contrary by Administrative Agent receives specific written objection (including email) thereto from the Borrower Representative within thirty forty-five (3045) days Business Days after receipt thereof by any such statement or reconciliation has been sent to the Borrower Representative. Such notice shall only be deemed an objection as to those items specifically objected to therein.

Appears in 1 contract

Samples: Credit Agreement (Unova Inc)

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Loan Account Charges\Credits; Reports. Each Borrower hereby authorizes the Lender to charge the Loan Account of the Borrowers with the Loans Loan and all other Obligations of the Borrowers under this Agreement or any other Loan Document. The Loan Account of the Borrowers will be credited in accordance with the provisions of this Agreement with all payments received by the Lender directly from the Borrowers or otherwise for the account of the Borrowers pursuant to this Agreement on the Business Day after such receipt. The Lender shall send the Borrower Representative statements in accordance with the Lender’s standard procedures. Any and all such periodic or other statements or reconciliations of the Loan Account shall, to the extent permitted by law, be final, binding and conclusive upon the Borrowers absent manifest error unless the Lender is notified to the contrary by the Borrower Representative within thirty (30) 30 days after receipt thereof by the Borrower Representative. Such notice shall only be deemed an objection as to those items specifically objected to therein.

Appears in 1 contract

Samples: Master Credit and Security Agreement (Peak Resorts Inc)

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