Account Debit. The Borrower hereby irrevocably authorizes the Bank to charge any of the Borrower’s deposit accounts maintained with the Bank or any of its Affiliates for the amounts from time to time necessary to pay any then due Obligations; provided that the Bank acknowledges and agrees that the Bank shall not be under an obligation to do so and the Bank shall not incur any liability to the Borrower or any other Person for the Bank’s failure to do so.
Appears in 3 contracts
Samples: Credit Agreement (Pioneer Power Solutions, Inc.), Credit Agreement (Pioneer Power Solutions, Inc.), Credit Agreement (Pioneer Power Solutions, Inc.)
Account Debit. The Borrower hereby irrevocably authorizes the Bank to charge any of the Borrower’s deposit accounts maintained with the Bank or any of its Affiliates for the amounts from time to time necessary to pay any then due Obligations; provided that the Bank acknowledges and agrees that the Bank shall not be under an obligation to do so and the Bank shall not incur any liability to the Borrower or any other Person for the Bank’s failure to do so.
Appears in 2 contracts
Samples: Credit Agreement (Willdan Group, Inc.), Credit Agreement (Willdan Group, Inc.)
Account Debit. The Borrower hereby irrevocably authorizes the Bank to charge any of the Borrower’s deposit accounts maintained with the Bank or any of its Affiliates for the amounts charge, from time to time necessary time, against any or all of any Borrower's deposit accounts with Bank any amount due under this Agreement. Each payment received by the Bank shall, at the Bank's option, be applied to pay any interest then due Obligations; provided that the Bank acknowledges and agrees that the Bank shall not be under an obligation to do so unpaid and the Bank remainder thereof (if any) shall not incur any liability be applied to the Borrower or any other Person for the Bank’s failure to do sopay principal.
Appears in 1 contract
Samples: Line of Credit Agreement (Public Storage Properties Xiv Inc)
