Common use of Noteless Agreement; Evidence of Indebtedness Clause in Contracts

Noteless Agreement; Evidence of Indebtedness. Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Advance made by such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. The Administrative Agent shall also maintain accounts in which it will record (i) the amount of each Advance made hereunder, the Type thereof and the Interest Period (if any) with respect thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder, and (iii) the amount of any sum received by the Administrative Agent hereunder from the Borrower and each Lender's share thereof. The entries maintained in the accounts maintained pursuant to subsections (a) and (b) above shall be prima facie evidence of the existence and amounts of the obligations therein recorded; provided, however, that the failure of the Administrative Agent or any Lender to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay such obligations in accordance with their terms.

Appears in 2 contracts

Samples: Credit Agreement (Entergy Arkansas Inc), Credit Agreement (Entergy Corp /De/)

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Noteless Agreement; Evidence of Indebtedness. (a) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Advance Loan made by such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. (b) The Administrative Agent shall also maintain accounts in which it will record (i) the amount of each Advance Loan made hereunder, the Type thereof and the Interest Period (if any) with respect thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder, hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder from the Borrower and each Lender's ’s share thereof. (c) The entries maintained in the accounts maintained pursuant to subsections (a) and (b) above shall be prima facie evidence of the existence and amounts of the obligations Obligations therein recorded; provided, however, that the failure of the Administrative Agent or any Lender to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay such obligations the Obligations in accordance with their terms.. 18

Appears in 1 contract

Samples: Loan Credit Agreement (LG&E & KU Energy LLC)

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Noteless Agreement; Evidence of Indebtedness. Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness Obligation of the Borrower to such Lender resulting from each Advance Term Loan made by such Lender from time to timeLender, including the amounts amount of principal and interest payable and paid to such Lender from time to time hereunder. The Administrative Agent shall also maintain accounts in which it will record (ia) the amount of each Advance Term Loan made hereunder, the Type thereof Interest Rate Option applicable thereto, and the Interest Period (if any) with respect applicable thereto, (iib) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder, and (iiic) the amount of any sum received by the Administrative Agent hereunder from the Borrower and each Lender's share thereof. The entries maintained in the accounts maintained pursuant to subsections (a) and (b) above this Section 2.3 shall be prima facie evidence of the existence and amounts of the obligations Obligation therein recorded; provided, however, that the failure of the Administrative Agent or any Lender to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay such obligations the Obligation in accordance with their its terms.

Appears in 1 contract

Samples: Note Pledge Agreement (Arch Coal Inc)

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