House
Group banks serve companies and consumers all through the nation. In addition, every Lender is authorized, at such Lenders option, to note the date and quantity of every payment or prepayment of principal of such Lenders Revolving Loans in its books and data, together with pc information, such books and records constituting presumptive evidence, absent manifest error, of the accuracy of the knowledge contained therein.
(c) If, upon the expiration of any Curiosity Interval relevant to LIBOR Revolving Loans, Debtors have failed to pick well timed a brand new Curiosity Period to be relevant to LIBOR Revolving Loans or if any Default or Occasion of Default then exists, Debtors shall be deemed to have elected to transform such LIBOR Revolving Loans into Base Fee Revolving Loans effective as of the expiration date of such Curiosity Interval.
Each Borrower hereby irrevocably authorizes Agent to charge the Loan Account for the purpose of paying principal, interest, reimbursement obligations in reference to Letters of Credit score and any related credit assist for Letters of Credit, charges, premiums and different sums payable hereunder, together with reimbursing expenses pursuant to Paragraph thirteen.1, and agrees that each one such amounts charged shall represent Revolving Loans (together …