Common use of Maintenance of Loan Account; Statements of Obligations Clause in Contracts

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower (the "Loan Account") on which Borrower will be charged with all Advances made by Agent or the Lenders to Borrower or for Borrower's account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section 2.8, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower's account, including all amounts received in the Agent Account from any Lockbox Bank. Agent shall render statements regarding the Loan Account to Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 60 days after receipt thereof by Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 4 contracts

Samples: Loan and Security Agreement (Network Plus Corp), Loan and Security Agreement (Network Plus Corp), Loan and Security Agreement (Network Plus Corp)

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Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower Borrowers (the "Loan Account") on which Borrower Borrowers will be charged with the Special Term Subline Amount and all Advances made by Agent or the Lenders Lender Group to Borrower Borrowers or for Borrower's Borrowers' account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of BorrowerBorrowers. In accordance with Section 2.82.9, the Loan Account will be credited with all payments received by Agent from Borrower Borrowers or for Borrower's Borrowers' account, including all amounts received in the Agent Agent's Account from any Lockbox Blocked Account Bank. Agent shall render statements regarding the Loan Account to Administrative Borrower, including principal, interest, interest and fees, and including an itemization of all charges and expenses constituting the Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower Borrowers and the Lender Group unless, within 60 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Loan and Security Agreement (Fao Inc), Loan and Security Agreement (Right Start Inc /Ca)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower (the "Loan Account") on which Borrower will be charged with all Advances made by Agent Agent, Foothill, or the Lenders to Borrower or for Borrower's account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section 2.8, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower's account, including all amounts received in the Agent Account from any Lockbox Bank. Agent shall render statements regarding the Loan Account to Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 60 30 days after receipt thereof by Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Loan and Security Agreement (Ram Energy Inc/Ok), Loan and Security Agreement (Southwest Royalties Holdings Inc)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower Borrowers (the "Loan Account") on which Borrower Borrowers will be charged with all Advances made by Agent or the Lenders to Borrower Borrowers or for Borrower's Borrowers' account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of BorrowerBorrowers. In accordance with Section 2.8, the Loan Account will be credited with all payments received by Agent from Borrower Borrowers or for Borrower's Borrowers' account, including all amounts received in the Agent Account from any Lockbox Bankthe Concentration Accounts. Agent shall render statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between each Borrower and the Lender Group unless, within 60 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Loan and Security Agreement (Guitar Center Inc), Loan and Security Agreement (Guitar Center Inc)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower (the "Loan Account") on which Borrower will be charged with all Advances made by Agent or the Lenders Lender Group to Borrower or for Borrower's account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section 2.82.9, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower's account, including all amounts received in the Agent Agent's Account from any Lockbox Bank. Agent shall render statements regarding the Loan Account to Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting the Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 60 days after receipt thereof by Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Loan and Security Agreement (Vermont Transit Co Inc), Loan and Security Agreement (Texas New Mexico & Oklahoma Coaches Inc)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower (the "Loan Account") on which Borrower will be charged with all Advances made by (or deemed to be made by) Agent or the Lenders to Borrower or for Borrower's accountaccount and all other payment Obligations hereunder or under the other Loan Documents, including, including accrued interest, fees and expenses and Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section 2.82.7, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower's account, including all amounts received in the Agent Account from any Lockbox Bank. Agent shall render statements regarding the Loan Account to Borrower, including principal, interest, fees, fees and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and each such statements statement shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 60 30 days after receipt thereof by Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Loan Agreement (Abraxas Petroleum Corp), Loan Agreement (Abraxas Petroleum Corp)

Maintenance of Loan Account; Statements of Obligations. Agent Lender shall maintain an account on its books in the name of Borrower Borrowers (the "Loan Account") on which Borrower Borrowers will be charged with all Advances (including Agent Advances) made by Agent or the Lenders to Borrower Borrowers or for Borrower's accountBorrowers' account and with all other payment Obligations hereunder or under the other Loan Documents, including, accrued interest, Lender Group Expensesfees and expenses, and any other payment Obligations of BorrowerLender Expenses. In accordance with Section 2.8, the Loan Account will be credited with all payments received by Agent from Borrower Borrowers or for Borrower's Borrowers' account, including all amounts received in the Agent Account from any Lockbox Bank. Agent shall render statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower Borrowers and the Lender Group unless, within 60 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Samples: Loan and Security Agreement (Peninsula Gaming Corp), Loan and Security Agreement (Old Evangeline Downs LLC)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower (the "Loan Account") on which Borrower will be charged with all Advances and the Term Loans made by Agent or the Lenders to Borrower or for Borrower's account, including, accrued interest, the Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section 2.8, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower's account, including all amounts received in the Agent Account from any Lockbox Bank. Agent shall render statements regarding the Loan Account to Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting the Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 60 30 days after receipt thereof by Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Todays Man Inc)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower (the "Loan AccountLOAN ACCOUNT") on which Borrower will be charged with all Advances made by Agent or the Lenders to Borrower or for Borrower's account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section SECTION 2.8, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower's account, including all amounts received in the Agent Account from any Lockbox Bank. Agent shall render monthly statements regarding the Loan Account to Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 60 45 days after receipt thereof by Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Phonetel Technologies Inc)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower Borrowers (the "Loan Account") on which Borrower Borrowers will be charged with all Advances made by Agent or the Lenders Lender Group to Borrower Borrowers or for Borrower's Borrowers' account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of BorrowerBorrowers. In accordance with Section 2.82.9, the Loan Account will be credited with all payments received by Agent from Borrower Borrowers or for Borrower's Borrowers' account, including all amounts received in the Agent Agent's Account from any Lockbox Bank. Agent shall render statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting the Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Administrative Borrower and the Lender Group unless, within 60 30 days after receipt thereof by Administrative Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Childrens Place Retail Stores Inc)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower (the "Loan Account") on which Borrower will be charged with all Advances made by Agent Agent, Foothill, or the Lenders to Borrower or for Borrower's account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section 2.8, the Loan Account will be credited with ----------- all payments received by Agent from Borrower or for Borrower's account, including all amounts received in the Agent Account from any Lockbox Bank. Agent shall render statements regarding the Loan Account to Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 60 30 days after receipt thereof by Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Convergent Communications Inc /Co)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower (the "Loan Account") on which Borrower will be charged with all Advances made by Agent or the Lenders Lender Group to Borrower or for Borrower's account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section 2.82.9, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower's account, including all amounts received in the Agent Agent's Account from any Lockbox Collection Account Bank, or Blocked Account Bank. Agent shall render statements regarding the Loan Account to Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting the Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 60 30 days after receipt thereof by Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Possession Loan and Security Agreement (Factory Card Outlet Corp)

Maintenance of Loan Account; Statements of Obligations. Agent on behalf of the Lender Group shall maintain an account on its books in the name of Borrower Borrowers (the "Loan Account") on which Borrower Borrowers will be charged with all Advances the Term Loans made by Agent or the Lenders to Borrower Borrowers or for Borrower's Borrowers' account, including, accrued interest, interest and Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section 2.82.9, the Loan Account will be credited with all payments received by Agent from Borrower Borrowers or for Borrower's Borrowers' account, including all amounts received in the Agent Agent's Account from any Lockbox Bank. Agent shall render statements regarding the Loan Account to Administrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower Borrowers and the Lender Group unless, within 60 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (General Datacomm Industries Inc)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower (the "Loan Account") on which Borrower will be charged with all Advances made by Agent or the Lenders Lender Group to Borrower or for Borrower's account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section 2.8SECTION 2.9, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower's account, including all amounts received in the Agent Agent's Account from any Lockbox Bank. Agent shall render statements regarding the Loan Account to Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting the Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 60 30 days after receipt thereof by Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Childrens Place Retail Stores Inc)

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Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower Borrowers (the "Loan Account") on which Borrower Borrowers will be charged with all Advances made by Agent or the Lenders Lender Group to Borrower Borrowers or for Borrower's Borrowers' account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of BorrowerBorrowers. In accordance with Section 2.8, the Loan Account will be credited with all payments received by Agent from Borrower Borrowers or for Borrower's Borrowers' account, including all amounts received in the Agent Agent's Account from any Lockbox Bank. Agent shall render statements regarding the Loan Account to BorrowerBorrowers, including principal, interest, fees, and including an itemization of all charges and expenses constituting the Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower Borrowers and the Lender Group unless, within 60 thirty (30) days after receipt thereof by BorrowerBorrowers, Borrower Borrowers shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (RDM Sports Group Inc)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower (the "Loan Account") on which Borrower will be charged with all Advances made by Agent or the Lenders to Borrower or for Borrower's account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section 2.82.10, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower's account, including all amounts received in the Agent Account from any Lockbox Bank. Agent shall render monthly statements regarding the Loan Account to Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 60 30 days after receipt thereof by Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.. 2.13

Appears in 1 contract

Samples: Loan and Security Agreement (CTC Communications Corp)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower (the "Loan AccountLOAN ACCOUNT") on which Borrower will be charged with and all Advances made by Agent or the Lenders to Borrower or for Borrower's account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section SECTION 2.8, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower's account, including all amounts received in the Agent Account from any Lockbox Bank. Agent shall render monthly statements regarding the Loan Account to Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 60 45 days after receipt thereof by Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Phonetel Technologies Inc)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower (the "Loan Account") on which Borrower will be charged with all Advances made by Agent or the Lenders Lender Group to Borrower or for Borrower's account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section 2.82.9, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower's account, including all amounts received in the Agent Agent's Account from any Lockbox Collection Account Bank or Blocked Account Bank. Agent shall render statements regarding the Loan Account to Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting the Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 60 30 days after receipt thereof by Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Agency Agreement (Franks Nursery & Crafts Inc)

Maintenance of Loan Account; Statements of Obligations. Facility Agent shall maintain an account on its books in the name of Borrower (the "Loan Account") on which Borrower will be charged with all Advances made by Agent or the Lenders Lender Group to Borrower or for Borrower's account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section 2.82.9, the Loan Account will be credited with all payments received by Facility Agent from Borrower or for Borrower's account, including all amounts received in the Agent Facility Agent's Account from any Lockbox Bank. Facility Agent shall render statements regarding the Loan Account to Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting the Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 60 days after receipt thereof by Borrower, Borrower shall deliver to Facility Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Los Buenos Leasing Co Inc)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower (the "Loan Account") on which Borrower will be charged with all Advances made by Agent the Loan, or the Lenders to Borrower or for Borrower's ’s account, and with all other payment Obligations hereunder or under the other Loan Documents, including, accrued interest, fees and expenses, and Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section 2.8, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower's ’s account, including all amounts received in the Agent Account from any Lockbox Bank. Agent shall may render statements regarding the Loan Account to Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 60 days after receipt thereof by Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Loan and Security Agreement (Acme Communications Inc)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower Borrowers (the "Loan Account") on which Borrower Borrowers will be charged with the Term Loans and with all Advances made by Agent other payment Obligations hereunder or under the Lenders to Borrower or for Borrower's accountother Loan Documents, including, accrued interest, fees and expenses, and Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section 2.8, the Loan Account will be credited with all payments received by Agent from Borrower Borrowers or for Borrower's Borrowers’ account, including all amounts received in the Agent Agent’s Account from any Lockbox Cash Management Bank. Agent shall render statements regarding the Loan Account to Administrative Borrower, including principal, interest, and fees, and including an itemization of all charges and expenses constituting Lender Group Expenses owing, and such statements statements, absent manifest error, shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower Borrowers and the Lender Group unless, within 60 30 days after receipt thereof by Administrative Borrower, Administrative Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements.

Appears in 1 contract

Samples: Credit Agreement (Buca Inc /Mn)

Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower (the "Loan Account") on which Borrower will be charged with all Advances made by Agent or the Lenders Lender Group to Borrower or for Borrower's account, including, accrued interest, Lender Group Expenses, and any other payment Obligations of Borrower. In accordance with Section 2.82.9, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower's account, including all amounts received in the Agent Agent's Account from any Lockbox Collection Account Bank or Blocked Account Bank. Agent shall render statements regarding the Loan Account to Borrower, including principal, interest, interest and fees, and including an itemization of all charges and expenses constituting the Lender Group Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 60 30 days after receipt thereof by Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements. 2.12.

Appears in 1 contract

Samples: Loan and Security Agreement (Right Start Inc /Ca)

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