Common use of Authorization to Charge Accounts Clause in Contracts

Authorization to Charge Accounts. The Borrowers hereby authorize each Lender Party, each participant and each Affiliate of each Lender Party, if and to the extent any amount payable by the Borrowers under the Loan Documents (whether payable to such Person or to any other Lender Party) is not otherwise paid when due, to charge such amount against any or all of the demand deposit or other accounts of any Borrower with such Person (whether maintained at a branch or office located within or without the United States), with the Borrowers remaining jointly and severally liable for any deficiency. The Person so charging any such account shall give the relevant Borrower prompt notice thereof, but any failure to give or delay in giving such notice shall not affect such Person's right to effect such charge. Such charging of accounts shall be subject to the provisions of Section 12.19 (Sharing of Collections) hereof.

Appears in 2 contracts

Samples: Credit Agreement (Genesis Health Ventures Inc /Pa), Credit Agreement (Genesis Eldercare Acquisition Corp)

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Authorization to Charge Accounts. The Borrowers hereby authorize each Lender Party, each participant and each Affiliate of each Lender Party, Party if and to the extent any amount payable by the Borrowers under the Loan Documents (whether payable to such Person or to any other Lender Party) is not otherwise paid when due, to charge such amount against any or all of the demand deposit or other accounts of any Borrower with such Person (whether maintained at a branch or office located within or without the United States), with the Borrowers remaining jointly and severally liable for any deficiency. The Person so charging any such account shall give the relevant Borrower prompt notice thereof, but any failure to give or delay in giving such notice shall not affect such Person's right to effect such charge. Such charging of accounts shall be subject to the provisions of Section 12.19 (Sharing of Collections) 12.18 hereof.

Appears in 1 contract

Samples: Credit Agreement (J&j Snack Foods Corp)

Authorization to Charge Accounts. The Borrowers hereby authorize each Lender Party, and each participant and each Affiliate of each Lender Party, if and to the extent any amount payable by the Borrowers under the Loan Documents (whether payable to such Person or to any other Lender Party) is not otherwise paid when due, to charge such amount against any or all of the demand deposit or other accounts of any Borrower with such Person (whether maintained at a branch or office located within or without the United States), with the Borrowers remaining jointly and severally liable for any deficiency. The Person so charging any such account shall give the relevant Borrower prompt notice thereof, but any failure to give or delay in giving such notice shall not affect such Person's right to effect such charge. Such charging of accounts shall be subject to the provisions of Section 12.19 (Sharing of Collections) hereof.

Appears in 1 contract

Samples: Credit Agreement (Genesis Eldercare Acquisition Corp)

Authorization to Charge Accounts. The Borrowers hereby authorize each Lender Party, each participant and each Affiliate of each Lender Party, Party if and to the extent any amount payable by the Borrowers under the Loan Documents (whether payable to such Person or to any other Lender Party) is not otherwise paid when due, to charge such amount against any or all of the demand deposit or other accounts of any Borrower with such Person (whether maintained at a branch or office located within or without the United States), with the Borrowers remaining jointly and severally liable for any deficiency. The Person so charging any such account shall give the relevant Borrower prompt notice thereof, but any failure to give or delay in giving such notice shall not affect such Person's right to effect such charge. Such charging of accounts shall be subject to the provisions of Section 12.19 (Sharing of Collections) hereof.

Appears in 1 contract

Samples: Credit Agreement (Genesis Eldercare Acquisition Corp)

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Authorization to Charge Accounts. The Borrowers Borrower hereby authorize authorizes the Administrative Agent, each Lender PartyLender, and each participant and each Affiliate of each Lender Party, if and to the extent any amount payable by the Borrowers Borrower under the Loan Documents (whether payable to such Person or to any other Lender Party) is not otherwise paid when due, to charge such amount against any or all of the demand deposit or other accounts of any the Borrower with such Person (whether maintained at a branch or office located within or without the United States), with the Borrowers Borrower remaining jointly and severally liable for any deficiency. The Person so charging any such account shall give the relevant Borrower prompt notice thereof, but any failure to give or delay in giving such notice shall not affect such Person's right to effect such charge. Such charging of accounts shall be subject to the provisions of Section 12.19 (Sharing of Collections) 9.17 hereof.

Appears in 1 contract

Samples: Credit Agreement (Genesis Eldercare Acquisition Corp)

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