Common use of Payment to the Lender Clause in Contracts

Payment to the Lender. All sums payable to the Lender hereunder shall be paid directly to the Lender in immediately available funds. The Lender shall send the Borrower statements of all amounts due hereunder, which statements shall be considered correct and conclusively binding on the Borrower unless the Borrower notifies the Lender to the contrary within sixty (60) days of its receipt of any statement which it deems to be incorrect.

Payment to the Lender. All sums payable to the Lender hereunder --------------------- shall be paid directly to the Lender (or to a bank account specified by the Lender) in immediately available funds. The Lender shall send the Borrower statements of all amounts due hereunder, which statements shall be considered correct and conclusively binding on upon the Borrower (absent manifest error) unless the Borrower notifies the Lender to the contrary within sixty thirty (6030) days of its receipt of any statement which it deems the Borrower believes to be incorrect.