Authorization to Debit Sample Clauses
Authorization to Debit. In addition to any other authorizations to and rights of Buyer hereunder, Seller hereby expressly authorizes Buyer to debit any account maintained by Seller with any depository institution into which any funds related to the Purchased Assets or related Purchased Items have been deposited (other than escrow accounts maintained for the benefit of the related Mortgagors), including without limitation, any operating, settlement or custodial account, for any and all amounts due Buyer hereunder. For the avoidance of doubt, the foregoing debit rights of Buyer shall not apply to Purchased Assets which have been repurchased by Seller pursuant to Section 6.5.
Authorization to Debit. (i) You authorize and direct iSolved to debit your Account up to five (5) business days (unless otherwise agreed to in writing) before each of the dates you designate that direct deposits are to be remitted to your employees (the “Payroll Check Dates”) in such amounts as you instruct iSolved are necessary to pay those individuals who have elected to receive their wages by direct deposit (“Payees”). The credits to each Payee’s account shall be on the applicable Payroll Check Date. You also authorize and direct your financial institution to charge your Account in the amount of each debit and to honor and pay the debit in accordance with its terms. The foregoing authorizations shall be standing authorizations and shall remain in full force and effect until terminated in accordance with this addendum and your agreement with your financial institution, and until iSolved and your financial institution have had a reasonable opportunity to act upon such termination.
(ii) If you designate a different financial institution or a different account number at the existing financial institution to serve as your Account, then you shall promptly notify iSolved of such change in writing and furnish a new Authorization to Debit Form to iSolved together with a voided check from such new account. iSolved must receive the new Authorization to Debit Form at least ten (10) days before the effective date of any such change.
(iii) Prior to the initiation of the first credit to any Payee, you shall obtain a written authorization signed by such Xxxxx (the “Payee Authorization”) in a form that complies with National Automated Clearing House Association (“NACHA”) rules. This form shall authorize the initiation from time to time of credits to such Xxxxxx’ accounts as well as authorize the debiting of such accounts in order to recover any funds erroneously credited to such accounts or if a debit entry to your Account is returned for any reason. You will request that iSolved credit or debit Payees’ accounts for net changes to payrolls that are reprocessed for any reason. You shall retain the original signed Payee Authorization, or duplicates of the original, regardless of the manner in which stored (electronic, photocopied, etc.), during the period such Payee Authorization is in effect and for a period of two years after the termination or revocation of such Payee Authorization, and shall furnish such original or copy to iSolved upon request.
Authorization to Debit. I/We hereby irrevocably authorize and instruct you, at any time without prior notice to me/us, to debit the Margin Securities Account with:
(a) all advances under the Credit Facilities required by you for purchasing securities on my/our behalf in accordance with my/our Instructions;
(b) all transaction or brokerage commissions and custodian fees and all other monies and sums payable to you from time to time under the Terms and Conditions of Business and these Additional Terms; and
(c) all other fees, levies, charges, disbursements, taxes and out-of-pocket expenses which you may incur on my/our behalf whether in connection with the purchase or sale of securities or otherwise pursuant to the Terms and Conditions of Business and these Additional Terms.
Authorization to Debit. Bank may debit the Demand Deposit Account, the Controlled Disbursement Account, the Collections Account and any account subject to Bank’s control (as such term is used in Article 9 of the Code) and/or make Revolver Loans to Borrower (whether or not in excess of the lesser of the Revolver Commitment and the Borrowing Base) and apply such amounts to the payment of interest, fees, expenses and other amounts to which Bank may be entitled from time to time and Bank is hereby irrevocably authorized to do so without the consent of Borrower.
Authorization to Debit. In addition to Lender’s right to make a deemed Revolving Loan under Section 2.4(a), Lender may, without notice to, or the consent of, Borrowers, debit any Funding Account, Collections Account, other Deposit Account, or other account over which Lender has Control and apply such amounts to the payment of Obligations which are then due and payable.
Authorization to Debit. In addition to any other authorizations to and rights of Buyer hereunder, each of Guarantor and Seller hereby expressly authorizes Buyer to debit any account maintained by Guarantor or Seller with Buyer into which any funds related to the Purchased Assets or related Purchased Items have been deposited (excluding, for the avoidance of doubt, any escrow accounts maintained for the benefit of the related Mortgagors), including without limitation, any operating, settlement or custodial account, for any and all amounts due Buyer hereunder. For the avoidance of doubt, the foregoing debit rights of Buyer shall not apply to Purchased Assets which have been repurchased by Seller pursuant to Section 6.4.
Authorization to Debit. In addition to any other authorizations to and rights of Buyer hereunder, Seller hereby expressly authorizes Buyer to debit any account maintained by Seller with any depository institution into which any funds related to the Purchased Mortgage Loans or related Repurchase Assets have been deposited (other than escrow accounts maintained for the benefit of the related Mortgagors), including without limitation, any operating, settlement or custodial account, for any and all amounts due Buyer hereunder.
Authorization to Debit. Borrower hereby expressly authorizes Lender to debit the Over/Under Account and any account maintained by Borrower with any depositary institution in respect of the Pledged Mortgage Loans, including without limitation, any operating, settlement or custodial account, for any and all amounts due Lender hereunder. Further, Lender may offset any amounts owed to Lender by Borrower against any amounts owed to Borrower by Lender or its Affiliates.
Authorization to Debit. In addition to any other authorizations to and rights of Administrative Agent, on behalf of Buyers, hereunder, Seller hereby expressly authorizes Administrative Agent, on behalf of Buyers, to debit any account maintained by Seller with Administrative Agent, on behalf of Buyers, into which any funds related to the Purchased Assets or related Purchased Items have been deposited (excluding, for the avoidance of doubt, any escrow accounts maintained for the benefit of the related Mortgagors), including without limitation, any operating, settlement or custodial account, for any and all amounts due Administrative Agent, on behalf of Buyers, hereunder. For the avoidance of doubt, the foregoing debit rights of Administrative Agent, on behalf of Buyers, shall not apply to Purchased Assets which have been repurchased by Seller pursuant to Section 6.4.
Authorization to Debit. Bank may debit the Disbursement Account, the Collections Account and any account subject to Bank’s control (as such term is used in Article 9 of the Code) and/or make Revolver Loans to Borrower (whether or not in excess of the lesser of the Revolver Commitment and the Borrowing Base) and apply such amounts to the payment of interest, fees, expenses and other amounts to which Bank may be entitled from time to time and Bank is hereby irrevocably authorized to do so without the consent of Borrower. Bank shall provide Borrower contemporaneous notice of all such debits other than debits for interest payment.