Common use of RECORDING PROCEDURES Clause in Contracts

RECORDING PROCEDURES. The Administrative Agent and each Lender shall record on their books or records or on a schedule to the appropriate Note the amount of each Loan made by such Lender to the Company, the Interest Period thereof (if applicable), all payments of principal and interest and the principal balance from time to time outstanding thereon, the interest rate applicable thereto, and, in respect of any Loan, the type of such Loan; provided that prior to the transfer of any Note all such amounts shall be recorded on a schedule to such Note. The record thereof, whether shown on such books or records of such Lender and the Administrative Agent or on a schedule to any Note, shall be prima facie evidence as to all such amounts (and, in the case of any discrepancy therein, in the absence of manifest error, the books and records of the Administrative Agent shall control); provided, however, that the failure of the Administrative Agent to record any of the foregoing or any error in any such record shall not limit or otherwise affect the obligation of the Company to repay all Loans made hereunder together with accrued interest thereon. The Administrative Agent will account separately to the Company monthly with a statement of Loans, charges and payments made to and by the Company pursuant to this Agreement, and such accounts shall be deemed final, binding and conclusive, save for manifest error, unless the Administrative Agent is notified by the Company in writing to the contrary within 30 days of the date the account to the Company was so rendered. Such notice by the Company shall be deemed an objection to only those items specifically objected to therein. Failure of the Administrative Agent to render such account shall in no way offset the rights of the Administrative Agent or of the Lenders hereunder. At the request of any Lender and upon such Lender tendering to the Company the Note to be replaced, the Company shall furnish a new Note to such Lender to replace any outstanding Note and at such time the first notation appearing on a schedule on the reverse side of, or attached to, such Note shall set forth the aggregate unpaid principal amount of all Loans, if any, then outstanding thereon.