Common use of Authorization to Debit Clause in Contracts

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 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.

Appears in 1 contract

Samples: Loan and Security Agreement (Innotrac Corp)

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Authorization to Debit. Bank may debit the Disbursement Disbursements Account, the Collections Account and any account subject to Bank's ’s control (as such term is used in Article 9 of the Code) and/or make Revolver Loans to Borrower Borrowers (whether or not in excess of the lesser of the Revolver Commitment and the Borrowing Base) and apply such amounts to the payment of Obligations including 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 BorrowerBorrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (Adams Golf Inc)

Authorization to Debit. Bank may debit the Demand Deposit Account, the Controlled Disbursement Account, the Collections Account and any account subject to Bank's ’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.

Appears in 1 contract

Samples: Loan and Security Agreement (Vitacost.com, Inc.)

Authorization to Debit. Bank may debit the Disbursement Account, the Collections Account and any other account subject to Bank's control (as such term is used in Article 9 of the Code) and/or make 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 BorrowerBorrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (Emerson Radio Corp)

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Authorization to Debit. Bank may debit the Disbursement Account, the Collections Account and any account subject to Bank's ’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 pursuant to the terms of this Agreement and Bank is hereby irrevocably authorized to do so without the consent of Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Primo Water Corp)

Authorization to Debit. Bank may debit the Disbursement Account, the Collections Account and any other account subject to Bank's ’s control (as such term is used in Article 9 of the Code) and/or make 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.

Appears in 1 contract

Samples: Loan and Security Agreement (Ic Isaacs & Co Inc)

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