Common use of The Loan Account Clause in Contracts

The Loan Account. (a) An account ("Loan Account") shall be opened on the books of the Administrative Agent. A record may be kept in the Loan Account of all loans made under or pursuant to the Revolving Credit and of all payments thereon. (b) The Administrative Agent may also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent may from time to time elect) of all interest, fees, service charges, costs, expenses, and other debits owed the Administrative Agent and each Lender on account of the Liabilities and of all credits against such amounts so owed. (c) All credits against the Liabilities shall be conditional upon final payment to the Administrative Agent for the account of each Lender of the items giving rise to such credits. The amount of any item credited against the Liabilities which is charged back against Administrative Agent or any Lender for any reason or is not so paid shall be a Liability and shall be added to the Loan Account, whether or not the item so charged back or not so paid is returned. (d) Except as otherwise provided herein, all fees, service charges, costs, and expenses for which the Borrower is obligated hereunder are payable on demand. In the determination of Availability, the Administrative Agent may deem fees, service charges, accrued interest, and other payments which will be due and payable between the date of such determination and the first day of the then next succeeding month as having been advanced under the Revolving Credit whether or not such amounts are then due and payable. (e) The Administrative Agent, without the request of the Borrower, may advance under the Revolving Credit any interest, fee, service charge, or other payment to which the Administrative Agent or any Lender is entitled from the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that such amount so advanced may result in Borrowing Base's being exceeded. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent's rights and Borrower's obligations under Section 2-9(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2-7(e) shall bear interest as provided at the then applicable rate for loans under the Revolving Credit. (f) In the absence of manifest error, any statement rendered by the Administrative Agent or any Working Capital Lender to the Borrower concerning the Liabilities shall be considered correct and accepted by the Borrower and shall be conclusively binding upon the Borrower unless the Borrower provides the Administrative Agent with written objection thereto within Thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.

The Loan Account. (a) An account ("Loan Account") shall be opened on the books of the Administrative Agent. A Agent in which a record may shall be kept in the Loan Account of all loans and advances made under or pursuant to the Revolving Credit and of all payments thereonCredit. (b) The Administrative Agent may shall also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent may from time to time elect) of all interest, fees, service charges, costs, expenses, and other debits owed to the Administrative Agent and each Revolving Credit Lender on account of the Liabilities and of all credits against such amounts so owed. (c) All credits against the Liabilities shall be conditional upon final payment to the Administrative Agent for the account of each Lender of the items giving rise to such credits. The amount of any item credited against the Liabilities which is charged back against Administrative Agent or any Lender for any reason or is not so paid shall be a Liability and shall be added to the Loan Account, whether or not the item so charged back or not so paid is returned. (d) Except as otherwise provided herein, all fees, service charges, costs, and expenses for which the any Borrower is obligated hereunder are payable on demand. In the determination of Availability, the Administrative Agent may deem fees, service charges, accrued interest, and other payments which will be due and payable between the date of such determination and the first day of the then next succeeding month as having been advanced under the Revolving Credit whether or not such amounts are then due and payable. (ed) The Administrative Agent, without the request of the Lead Borrower, may advance under the Revolving Credit any interest, fee, service charge, or other payment to which the Administrative any Agent or any Revolving Credit Lender is entitled from the any Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that such amount so advanced an OverLoan may result in Borrowing Base's being exceededthereby. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent's rights and each Borrower's obligations under Section 22:2-9(b12(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 22:2-7(e10(d) shall bear interest as provided at the interest rate then and thereafter applicable rate for loans under the Revolving Creditto Base Margin Loans. (fe) In the absence of manifest error, any Any statement rendered by the Administrative Agent or any Working Capital Revolving Credit Lender to the Lead Borrower concerning the Liabilities shall be considered correct and accepted by the each Borrower and shall be conclusively binding upon the each Borrower unless the Lead Borrower provides the Administrative Agent with written objection thereto within Thirty sixty (3060) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the The Loan Account and the Administrative Agent's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.

The Loan Account. (a) ______ An account ("Loan AccountLOAN ACCOUNT") shall be opened on the books of the Administrative Agent. A record may be kept in the Loan Account of all loans Loans made under or pursuant to the Revolving Credit this Agreement and of all payments thereon. (b) ______ The Administrative Agent may also keep a record (either in the Loan Account or elsewhere, as the Administrative Agent may from time to time elect) of all interest, fees, service charges, costs, expenses, and any other debits amounts owed the Administrative Agent Agent, the SwingLine Lender and each Lender on account of the Liabilities and of all credits against all such amounts so owed. (c) ______ All credits against the Liabilities shall be conditional upon receipt of final payment to the Administrative Agent for the account Account of each Lender of the items giving rise to such creditsamounts so credited. The amount of any item credited against the Liabilities which is charged back against Administrative Agent or any Lender for any reason or is not so finally paid shall be a Liability and shall be added to the Loan Account, whether or not the item so charged back or not so paid is returned. (d) ______ Except as otherwise provided herein, all fees, service charges, costs, and expenses for which the Borrower is Borrowers are obligated hereunder are payable on demand. In the determination of Availability, the Administrative Agent may deem fees, service charges, accrued interest, and other payments which will be due and payable between the date of such determination and the first day of the then next succeeding month as having been advanced under the Revolving Credit Credit, whether or not such amounts are then due and payable. (e) The Administrative Agent, without the request of the Lead Borrower, may advance under the Revolving Credit any interest, fee, service charge, or other payment to which the Administrative Agent or any Lender is entitled from the Borrower pursuant hereto and may charge the same to the Loan Account notwithstanding that such amount so advanced may result in Borrowing Base's being exceeded. Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent's rights and Borrower's obligations under Section 2-9(b). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2-7(e) shall bear interest as provided at the then applicable rate for loans under the Revolving Credit. (f) In the absence of manifest error, any statement rendered by the Administrative Agent or any Working Capital Lender to the Borrower concerning the Liabilities shall be considered correct and accepted by the Borrower and shall be conclusively binding upon the Borrower unless the Borrower provides the Administrative Agent with written objection thereto within Thirty (30) days from the mailing of such statement, which written objection shall indicate, with particularity, the reason for such objection. In the absence of manifest error, the Loan Account and the Administrative Agent's books and records concerning the loan arrangement contemplated herein and the Liabilities shall be prima facie evidence and proof of the items described therein.other