Common use of Effect of Entries Clause in Contracts

Effect of Entries. The entries made in the records maintained pursuant to paragraph (c) or (d) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Bank, the Administrative Agent or the Security Trustee to maintain such records or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. In the event of any conflict between the records of the Administrative Agent, the records of the Security Trustee and the records of each Bank, the records of the Security Trustee shall control.

Appears in 2 contracts

Sources: Credit Agreement (Fly Leasing LTD), Credit Agreement (Fly Leasing LTD)

Effect of Entries. The entries made in the records maintained pursuant to paragraph (c) or (d) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any BankPurchaser, the Security Trustee, or the Administrative Agent or the Security Trustee to maintain such records or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans Advances evidenced by the applicable Global Note in accordance with the terms of this Agreement. In the event of any conflict between the records of the Administrative Agent, the records of the Security Trustee and the records of each BankPurchaser, the records of the Security Trustee shall control.

Appears in 2 contracts

Sources: Note Purchase Agreement (Fly Leasing LTD), Note Purchase Agreement (Fly Leasing LTD)