Common use of Statements of Obligations Clause in Contracts

Statements of Obligations. Alliance may render statements to Borrower of the Obligations, including principal, interest, fees, and including an itemization of all charges and expenses constituting Alliance Expenses owing, and such statements shall be conclusively presumed to be correct and accurate, absent manifest error and constitute an account stated between Borrower and Alliance unless, within forty-five (45) days after receipt thereof by Borrower, Borrower shall deliver to Alliance written objection thereto describing the error or errors contained in any such statements.