Common use of Evidence of Obligations Clause in Contracts

Evidence of Obligations. (i) The Advances made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the Administrative Agent in the ordinary course of business. The accounts or records maintained by Administrative Agent and the Lenders shall be conclusive absent manifest error of the amount of the Advances made by such Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender to the Borrower made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) the applicable Note or Notes which shall evidence such Lender’s Advances to the Borrower in addition to such accounts or records. Each Lender may attach schedules to such Notes and endorse thereon the date, Type (if applicable), amount, currency and maturity of its Advances and payments with respect thereto.

Appears in 7 contracts

Samples: Credit Agreement (National Oilwell Varco Inc), Assignment and Assumption (National Oilwell Varco Inc), Credit Agreement (NOW Inc.)

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Evidence of Obligations. (i) The Advances Revolving Loans made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender Lxxxxx and by the Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and the Lenders each Lender shall be conclusive absent manifest error of the amount of the Advances Revolving Loans made by such the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender Lxxxxx and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender to the Borrower made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) the applicable a Note or Notes Notes, which shall evidence such LenderLxxxxx’s Advances to Share of the Borrower Revolving Loans in addition to such accounts or records. Each In the event of any conflict between the accounts and records maintained by the Administrative Agent and the accounts and records of any Lender may attach schedules to in respect of such Notes matters, the accounts and endorse thereon records of the date, Type (if applicable), amount, currency and maturity Administrative Agent shall control in the absence of its Advances and payments with respect theretomanifest error.

Appears in 1 contract

Samples: Credit and Security Agreement (Sachem Capital Corp.)

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Evidence of Obligations. (i) The Advances made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender Xxxxxx and by the Administrative Agent in the ordinary course of business. The accounts or records maintained by Administrative Agent and the Lenders shall be conclusive absent manifest error of the amount of the Advances made by such Lenders Xxxxxxx to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender Xxxxxx and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender to the Borrower made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) the applicable Note or Notes which shall evidence such LenderXxxxxx’s Advances to the Borrower in addition to such accounts or records. Each Lender may attach schedules to such Notes and endorse thereon the date, Type (if applicable), amount, currency and maturity of its Advances and payments with respect thereto.

Appears in 1 contract

Samples: Year Credit Agreement (NOV Inc.)

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