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Common use of Automatic Debits of Fees Clause in Contracts

Automatic Debits of Fees. With respect to any arrangement fee, letter of credit fee or other fee, or any other cost or expense (including Attorney Costs) past due and payable to Administrative Agent under the Loan Documents, Borrower hereby irrevocably authorizes Administrative Agent, after giving five (5) Business Days' prior notice to Borrower, to debit any deposit account of Borrower with Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in Administrative Agent's sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section shall be deemed a set-off.

Appears in 3 contracts

Samples: Credit Agreement (Stroud Energy Inc), Credit Agreement (Stroud Energy Inc), Credit Agreement (Quest Resource Corp)

Automatic Debits of Fees. With respect to any commitment fee, arrangement fee, letter Letter of credit Credit fee or other fee, or any other cost or expense (including Attorney Costs) past due and payable to the Administrative Agent under the Loan Documents, Borrower the Company hereby irrevocably authorizes the Administrative Agent, after giving five (5) Business Days' reasonable prior notice to Borrowerthe Company, to debit any deposit account of Borrower the Company with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the Administrative Agent's ’s sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 11.11 shall be deemed a set-off.

Appears in 3 contracts

Samples: Credit Agreement (Venoco, Inc.), Credit Agreement (Exploration Co of Delaware Inc), Credit Agreement (Venoco, Inc.)

Automatic Debits of Fees. With respect to any commitment fee, arrangement fee, letter Letter of credit Credit fee or other fee, or any other cost or expense (including Attorney Costs) past due and payable to the Administrative Agent under the Loan Documents, Borrower the Company hereby irrevocably authorizes the Administrative Agent, after giving five (5) Business Days' reasonable prior notice to Borrowerthe Company, to debit any deposit account of Borrower the Company with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the Administrative Agent's sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 11.11 shall be deemed a set-off.

Appears in 2 contracts

Samples: Credit Agreement (Venoco, Inc.), Credit Agreement (BMC, Ltd.)

Automatic Debits of Fees. With respect to any commitment fee, arrangement fee, letter of credit fee or other fee, or any other cost or expense (including Attorney Costs) past due and payable to the Administrative Agent Agent, the Issuing Lender, B of A or the Arranger under the Loan Documents, Borrower the Company hereby irrevocably authorizes Administrative Agent, after giving five (5) Business Days' prior notice to Borrower, B of A to debit any deposit account of Borrower the Company with Administrative Agent B of A in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in Administrative AgentB of A's sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section shall be deemed a set-off.

Appears in 2 contracts

Samples: Credit Agreement (Ameriserve Transportation Inc), Credit Agreement (Nebco Evans Holding Co)

Automatic Debits of Fees. With respect to any commitment fee, arrangement fee, letter of credit fee or other fee, or any other cost or expense (including Attorney Costs) past due and payable to the Administrative Agent under the Loan Documents, Borrower the Company hereby irrevocably authorizes the Administrative Agent, after giving five (5) Business Days' reasonable prior notice to Borrowerthe Company, to debit any deposit account of Borrower the Company with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the Administrative Agent's ’s sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section shall be deemed a set-off.

Appears in 1 contract

Samples: Credit Agreement (BreitBurn Energy Partners L.P.)

Automatic Debits of Fees. With respect to any arrangement fee, letter of credit fee or other fee, or any other cost or expense (including Attorney Costs) past due and payable to Administrative Agent under the Loan Documents, Borrower hereby irrevocably authorizes Administrative Agent, after giving five (5) Business Days' prior notice to Borrower, to debit any deposit account of Borrower with Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in Administrative Agent's ’s sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section shall be deemed a set-off.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Stroud Energy Inc)

Automatic Debits of Fees. With respect to any arrangement fee, letter of credit fee or other fee, or any other cost or expense (including reasonable Attorney Costs) past ), due and payable to the Administrative Agent under the Loan Documents, in the event that such amount has been unpaid by the Borrower after request therefor by the Administrative Agent, the Borrower hereby irrevocably authorizes the Administrative Agent, after giving five (5) Business Days' prior notice to Borrower, Agent to debit any deposit account of the Borrower with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the Administrative Agent's sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section shall be deemed a set-off.

Appears in 1 contract

Samples: Uncommitted Revolving Credit Agreement (Tesoro Corp /New/)

Automatic Debits of Fees. With respect to any arrangement fee, letter of credit fee or other fee, or any other cost or expense (including Attorney Costs) past due and payable to Administrative Agent under the Loan Documents, Borrower hereby irrevocably authorizes Administrative Agent, after giving five (5) Business Days' prior notice to Borrower, to debit any deposit account of Borrower with Administrative Agent or any of its Affiliates in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in Administrative Agent's ’s or such Affiliate’s, as the case may be, sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 11.11 shall be deemed a set-off.

Appears in 1 contract

Samples: Credit Agreement (Cinco Resources, Inc.)

Automatic Debits of Fees. With respect to any commitment fee, arrangement fee, letter of credit fee or other fee, or any other cost or expense (including Attorney Costs) past due and payable to the Administrative Agent under the Loan Documents, Borrower the Company hereby irrevocably authorizes the Administrative Agent, after giving five (5) Business Days' reasonable prior notice to Borrowerthe Company, to debit any deposit account of Borrower the Company with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the Administrative Agent's sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section shall be deemed a set-off.

Appears in 1 contract

Samples: Credit Agreement (BreitBurn Energy Partners L.P.)

Automatic Debits of Fees. With respect to any arrangement fee, letter of credit fee or other fee, or any other cost or expense (including reasonable Attorney Costs) past ), due and payable to the Administrative Agent under the Loan Documents, in the event that such amount has been unpaid by the Borrower after request therefor by the Administrative Agent, the Borrower hereby irrevocably authorizes the Administrative Agent, after giving five (5) Business Days' prior notice to Borrower, Agent to debit any deposit account of the Borrower with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the Administrative Agent's ’s sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section shall be deemed a set-off.

Appears in 1 contract

Samples: Uncommitted Revolving Credit Agreement (Tesoro Corp /New/)

Automatic Debits of Fees. With respect to any commitment fee, arrangement fee, letter Letter of credit Credit fee or other fee, or any other cost or expense (including Attorney Costs) past due and payable to the Administrative Agent under the Loan Documents, Borrower the Company hereby irrevocably authorizes the Administrative Agent, after giving five (5) Business Days' reasonable prior notice to Borrowerthe Company, to debit any deposit account of Borrower the Company with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the Administrative Agent's ’s sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 11.11 shall be deemed a set-offsetoff.

Appears in 1 contract

Samples: Credit Agreement (Venoco, Inc.)