Common use of Determination by Administrative Agent Clause in Contracts

Determination by Administrative Agent. Each determination of an interest rate, fee, cost, indemnity payment, or other amount by the Administrative Agent pursuant to any provision of this Agreement shall be conclusive and binding on the Borrower and the Lenders in the absence of manifest error. The Administrative Agent’s statement of account, ledger, or other relevant record shall, in the absence of manifest error, as demonstrated by the Borrower, be conclusive as the statement of the amount of principal of and interest on the Loan and other amounts due and owing under this Agreement and the other Loan Documents and shall be deemed to be an “account stated.”