Common use of The Loan Account Clause in Contracts

The Loan Account. Each Revolving Loan shall be recorded in an account on the books of the Bank bearing the Company's name (the "Loan Account"). There shall also be recorded in the Loan Account all prepayments and payments made by the Company in respect of the Line of Credit and other appropriate debits and credits as herein provided. The Bank shall render and send to the Company on a monthly basis a statement of the Loan Account showing the respective outstanding principal balance of the Line of Credit, together with interest and other appropriate debits and credits as of the date of the statement. The statement of the Loan Account shall be considered correct in all respects and accepted by and be conclusively binding upon the Company unless the Company makes specific written objection thereto within sixty (60) days after the date the statement of the Loan Account is sent.

The Loan Account. Each Revolving Loan shall be recorded in an account on the books of the Bank Administrative Agent bearing the Company's name (the "Loan Account"). There shall also be recorded in the Loan Account all prepayments and payments made by the Company in respect of the Line of Credit and other appropriate debits and credits as herein provided. The Bank Administrative Agent shall render and send to the Company on a monthly basis a statement of the Loan Account showing the respective outstanding principal balance of the Line of Credit, together with interest and other appropriate debits and credits as of the date of the statement. The statement of the Loan Account shall be considered correct in all respects and accepted by and be conclusively binding upon the Company unless the Company makes specific written objection thereto within sixty (60) days after the date the statement of the Loan Account is sent.

The Loan Account. Each Revolving Loan shall be recorded in an account on the books of the Bank Agent bearing the Company's name (the "Loan Account"). There shall also be recorded in the Loan Account all prepayments and payments made by the Company in respect of the Line of Credit and other appropriate debits and credits as herein provided. The Bank Agent shall render and send to the Company on a monthly basis a statement of the Loan Account showing the respective outstanding principal balance of the Line of Credit, together with interest and other appropriate debits and credits as of the date of the statement. The statement of the Loan Account shall be considered correct in all respects and accepted by and be conclusively binding upon the Company unless the Company makes specific written objection thereto within sixty (60) days after the date the statement of the Loan Account is sent.