Liability Records. The Lender may maintain from time to time, at its discretion, liability records as to each Borrower's Obligations. All entries made on any such record shall be presumed correct until such Borrower establishes the contrary. Upon the Lender's demand, each Borrower will admit and certify in writing the exact principal balance of such Borrower's Obligations that such Borrower then asserts to be outstanding. Any billing statement or accounting rendered by the Lender shall be conclusive and fully binding on the applicable Borrower unless such Borrower gives the Lender specific written notice of exception within 30 days after receipt.
Appears in 1 contract
Sources: Credit and Security Agreement (Medical Dynamics Inc)
Liability Records. The Lender may maintain from time to time, at its discretion, liability records as to each Borrower's Obligationsany and all Advances made or repaid and interest accrued or paid under this Agreement. All entries made on any such record shall be presumed correct until such the Borrower establishes the contrary. Upon On demand by the Lender's demand, each the Borrower will admit and certify in writing the exact principal balance of such Borrower's Obligations that such which Borrower then asserts to be outstandingoutstanding to the Lender for Advances under this Agreement. Any billing statement or accounting rendered by the Lender shall be conclusive and fully binding on the applicable Borrower unless such Borrower gives the Lender specific written notice of exception is given to the Lender by the Borrower within 30 120 days after receiptits receipt by the Borrower.
Appears in 1 contract
Sources: Credit Agreement (Hia Inc)
Liability Records. The Lender may maintain from time to time, at its discretion, liability records as to each Borrower's the Obligations. All In the absence of manifest error, all entries made on any such record shall be presumed correct until such the Borrower establishes the contrary. Upon the Lender's ’s demand, each the Borrower will admit and certify in writing the exact principal balance of such Borrower's the Obligations that such the Borrower then asserts to be outstanding. Any billing statement or accounting rendered by the Lender shall be conclusive and fully binding on the applicable Borrower unless such the Borrower gives the Lender specific written notice of exception within 30 days after receipt.
Appears in 1 contract
Sources: Loan and Security Agreement (Technology Flavors & Fragrances Inc)
Liability Records. The Lender may maintain from time to time, at its discretion, liability records as to each Borrower's Obligationsthe Indebtedness. All entries made on any such record shall be presumed correct until such the Borrower establishes the contrary. Upon the Lender's ’s demand, each the Borrower will admit and certify in writing the exact principal balance of such Borrower's Obligations the Indebtedness that such the Borrower then asserts to be outstanding. Any billing statement or accounting rendered by the Lender shall be conclusive (absent manifest error) and fully binding on the applicable Borrower unless such the Borrower gives the Lender specific written notice of exception within 30 days after receiptreceipt of such statement or accounting by Borrower.
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