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Common use of Automatic Debits of Fees Clause in Contracts

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 due and payable to the Administrative Agent under the Loan Documents (including attorneys’ fees and expenses that are payable pursuant to this Agreement or the other Loan Documents), the Company hereby irrevocably authorizes the Administrative Agent, after giving reasonable prior notice to the Company, to debit any deposit account of 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 3 contracts

Samples: Debt Agreement (Breitburn Energy Partners LP), Credit Agreement, Credit Agreement (Breitburn Energy Partners LP)

Automatic Debits of Fees. With respect to any commitment facility fee, agency fee, arrangement fee, letter of credit fee or other fee, or any other cost or expense (including Attorney Costs) due and payable to the Administrative Agent Agent, U.S. Bank or any other Co-Lead Arranger under the Loan Documents (including attorneys’ fees and expenses that are payable pursuant to this Agreement or the other Loan Documents), the Company hereby irrevocably authorizes the Administrative Agent, after giving reasonable prior notice to the Company, Agent and/or U.S. Bank to debit any deposit account of the Company with the Administrative Agent and/or U.S. Bank in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other reasonable 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 and/or U.S. Bank’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 (Mdu Resources Group Inc), Credit Agreement (Mdu Resources Group Inc), Credit Agreement (Mdu Resources Group Inc)

Automatic Debits of Fees. With Upon approval by the Borrower of any invoice with respect to any commitment fee, arrangement fee, letter of credit fee or other fee, or any other cost or expense (including fees and disbursements of counsel, the allocated costs of internal legal services and disbursements of internal counsel) due and payable to the Administrative Agent under the Loan Documents (including attorneys’ fees and expenses that are payable pursuant to this Agreement or the other Loan Documents), the Company Borrower hereby irrevocably authorizes the Administrative Agent, after giving reasonable prior notice to the Company, Agent to debit any deposit account of the Company 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-offsetoff.

Appears in 3 contracts

Samples: Credit Agreement (Schuler Residential Inc), Revolving Credit Agreement (Schuler Homes Inc), Credit Agreement (Schuler Homes 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 due and payable to the Administrative Agent under the Loan Documents (including attorneys’ attorneys fees and expenses that are payable pursuant to this Agreement or the other Loan Documents), the Company hereby irrevocably authorizes the Administrative Agent, after giving reasonable prior notice to the Company, to debit any deposit account of 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 2 contracts

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

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) due and payable to the Administrative Agent or any Lender under the Loan Documents (including attorneys’ fees and expenses that are payable pursuant to this Agreement or the other Loan Documents), each of the Company and the Guarantors hereby irrevocably authorizes the Administrative Agent, after giving reasonable prior notice to the CompanyCompany or the applicable Guarantor, to debit any deposit account of the Company or such Guarantor 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 (Ivanhoe Energy Inc)

Automatic Debits of Fees. With respect to any commitment feeCommitment Fee, arrangement fee, letter Letter of credit fee Credit Fees or other fee, or any other reasonable cost or expense due and payable to the Administrative Agent Agent, any Issuing Lender, or any Lender, or any of their attorneys or other representatives under the Loan Documents (including attorneys’ fees and expenses that are payable pursuant to this Agreement or the other Loan Documents), the Company Borrower hereby irrevocably authorizes the Administrative Agent, after giving reasonable prior notice to the CompanyBorrower, to debit any deposit account of the Company 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: Credit Agreement (Howard Midstream Partners, LP)