Common use of Automatic Debit Clause in Contracts

Automatic Debit. Administrative Lender may, and Borrowers hereby authorize Administrative Lender to, debit any deposit account of Borrower with Administrative Lender for all payments of principal, interest, fees and other amounts due under the Loan Documents as they become due, provided that Administrative Lender shall first debit Borrowers’ Agent’s account no. 1536-9121-3778 with Administrative Lender, before debiting any other account.

Appears in 2 contracts

Samples: Credit Agreement (Monaco Coach Corp /De/), Credit Agreement (Monaco Coach Corp /De/)

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Automatic Debit. Administrative Lender may, and Borrowers hereby authorize Administrative Lender to, debit any deposit account of Borrower with Administrative Lender for all payments of principal, interest, fees and other amounts due under the Loan Documents as they become due, provided that Administrative Lender shall first debit Borrowers' Agent’s 's account no. 15361-536-9121-3778 3752 with Administrative Lender, before debiting any other account.

Appears in 2 contracts

Samples: Credit Agreement (Monaco Coach Corp /De/), Credit Agreement (Monaco Coach Corp /De/)

Automatic Debit. Administrative Lender may, and Borrowers Borrower hereby authorize authorizes Administrative Lender to, debit any deposit account of Borrower with Administrative Lender for all payments of principal, interest, fees and other amounts due under the Loan Documents as they become due, provided that Administrative Lender shall first debit Borrowers’ Agent’s Borrower's account no. 1536-9121-3778 370211003436 with Administrative LenderKeyBank, or a successor account, before debiting any other account.

Appears in 1 contract

Samples: Credit Agreement (Praegitzer Industries Inc)

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Automatic Debit. Administrative Lender may, and Borrowers Borrower hereby authorize --------------- authorizes Administrative Lender to, debit any deposit account of Borrower with Administrative Lender for all payments of principal, interest, fees and other amounts due under the Loan Documents as they become due, provided that Administrative Lender shall first debit Borrowers’ Agent’s Borrower's account no. 1536-9121-3778 1536000018813 with Administrative Lender, before debiting any other account.

Appears in 1 contract

Samples: Credit Agreement (Planar Systems Inc)

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