Common use of Statements of Obligations Clause in Contracts

Statements of Obligations. Lender shall render monthly statements to Borrower of the Obligations, including principal, interest, fees, and an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and Lender unless, within thirty (30) days following receipt thereof by Borrower, Borrower shall have delivered to Lender by registered or certified mail at its address specified herein, written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Sources: Loan and Security Agreement (Visualant Inc), Loan and Security Agreement (Great American Group, Inc.)

Statements of Obligations. The Lender shall periodically render monthly statements regarding the Obligations to Borrower of the ObligationsAdministrative Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower the Borrowers and the Lender unless, within thirty (30) 30 days following after receipt thereof by the Administrative Borrower, the Administrative Borrower shall have delivered deliver to the Lender by registered or certified mail at its address specified herein, written objection objections thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Sources: Loan and Security Agreement (Zanett Inc), Loan and Security Agreement (Zanett Inc)

Statements of Obligations. Lender shall render monthly statements to Borrower of the Obligations, including principal, interest, fees, and an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and Lender unless, within thirty (30) days following after receipt thereof by Borrower, Borrower shall have delivered to Lender by registered or certified mail at its address specified herein, written objection thereto describing the error or errors contained in any such statements.

Appears in 2 contracts

Sources: Loan and Security Agreement (Orange 21 Inc.), Loan and Security Agreement (Mendocino Brewing Co Inc)

Statements of Obligations. Lender shall render monthly statements to Borrower of the Obligations, including principal, interest, fees, and an itemization of all charges and expenses constituting Lender Expenses owing, and such statements shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and Lender unless, within thirty (30) days following receipt thereof by Borrower, Borrower shall have delivered to Lender by registered or certified mail at its address specified hereinLender, pursuant to the terms of Section 15 hereof, written objection thereto describing the error or errors contained in any such statements.”

Appears in 1 contract

Sources: Loan and Security Agreement (Great American Group, Inc.)