Automatic Payment Authorization Sample Clauses

Automatic Payment Authorization. Effective as of [___________________], ALTO NEUROSCIENCE, INC., a Delaware corporation (“Borrower Representative”) hereby authorizes K2 HEALTHVENTURES LLC (“K2”), or any affiliate acting on its behalf pursuant to the Loan Agreement and the bank or financial institution named below (“Bank”) to automatically debit through the Automatic Clearing House (ACH) from, and initiate variable debit and/or credit entries to, the deposit, checking or savings accounts as designated below maintained in the name of a Borrower, and to cause electronic funds transfers to an account of K2 to be applied to the payment of any and all amounts due under the Loan and Security Agreement, dated December 16, 2022 (as amended, restated, supplemented or otherwise modified, from time to time, the “Agreement”), among Borrower Representative, and any other borrowers party thereto from time to time, K2, and any other lender from time to time party thereto (collectively, “Lenders”), and Ankura Trust Company, LLC, as collateral agent for Lenders, including without limitation, principal, interest, fees, expenses and charges (including Lender Expenses). Capitalized terms not otherwise defined herein, have the meanings given in the Agreement. This Authorization shall remain in effect until the Loan Agreement has been terminated. This Authorization is executed as of the date set forth above by the undersigned authorized representative of Borrower Representative: By: Name: Title: [[THE SECURITY REPRESENTED BY THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, OR APPLICABLE STATE SECURITIES LAWS. THIS SECURITY MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER SAID ACT, OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER SAID ACT INCLUDING, WITHOUT LIMITATION, PURSUANT TO RULE 144 UNDER SAID ACT.]] $[ ] [ , 20 ] FOR VALUE RECEIVED, the undersigned, [ ], a [ ] (“Borrower Representative”), and each Person party thereto as a borrower from time to time (collectively, “Borrowers”, and each, a “Borrower”), hereby unconditionally, jointly and severally, promise to pay to [ ] (together with its successors and assigns, the “Holder”) at the times, in the amounts and at the address set forth in the Loan and Security Agreement, dated as of December 16, 2022 (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”; capitalized terms used...

Automatic Payment Authorization. Borrower authorizes the Lender to make automatic deductions (“Auto Debit”) from the following deposit account (the “Account”) maintained by Borrower at Lender’s offices in order to pay, when and as due, all installment payments of interest, and/or principal, renewal, modification or other fees or payments (a “Payment”) that Borrower is required or obligated to pay Lender under the Note: Without limiting any of the terms of the Loan Documents, Borrower acknowledges and agrees that if Borrower defaults in its obligation to make a Payment because the collected funds in the Account are insufficient to make such Payment in full on the date that such Payment is due, then Borrower shall be responsible for all late payment charges and other consequences of such default by Borrower under the terms of the Loan Documents.

Automatic Payment Authorization. The “Automatic Payment Authorization” section of Exhibit A of the Loan Agreement is hereby amended to provide that automatic Payments from Borrower’s Account shall include renewal or modification fees or other fees and payments due and owing by Borrower to Lender under the Loan Documents.

Automatic Payment Authorization. Borrower authorizes Lender to make automatic deductions (“Auto Debit”) from the following deposit account (the “Account”) maintained by Borrower at Lender’s offices in order to pay, when and as due, all installment payments of interest, and/or principal, renewal, modification or other fees or payments (a “Payment”) that Borrower is required or obligated to pay Lender under the Loan Documents provided, that Lender shall notify Borrower of any amounts automatically deducted from Borrower’s Account (which notice may be delivered concurrently with any Auto Debit), and provided, further, that no Auto Debit shall be effected for any fees or payments that are not scheduled unless Borrower shall have received, prior to the making of the Auto Debit, a written invoice, which may be delivered via email, detailing the fees or payments that are due: Account No: Without limiting any of the terms of the Loan Documents, Borrower acknowledges and agrees that if Borrower defaults in its obligation to make a Payment because the collected funds in the Account are insufficient to make such Payment in full on the date that such Payment is due, then Borrower shall be responsible for all late payment charges and other consequences of such default by Borrower under the terms of the Loan Documents.

Automatic Payment Authorization. Administrative Agent, on behalf of Lenders, may initiate debit entries to any Deposit Accounts as authorized on the Automatic Payment Authorization for principal and interest payments or any other Obligations when due. These debits shall not constitute a set-off. If the ACH payment arrangement is terminated for any reason, Borrowers shall make all payments due hereunder at the applicable address specified in Section 10, or as otherwise notified by Administrative Agent in writing.

Automatic Payment Authorization. Merchant authorizes DotCom to initiate automatic transfer of funds or debit from your credit account sufficient funds to pay Dotcom’s monthly invoice and for all services provided under this Agreement. Merchant will sign the Automatic Payment Authorization in Exhibit B, attached hereto.

Automatic Payment Authorization. Borrower authorizes Bank to make automatic deductions from the Account as defined in Section A of the Application in order to pay all of the regularly scheduled installment payments of principal and/or interest on the Loan and the payment of the principal of the Loan at maturity (a "Regular Payment") that Borrower is obligated to make to Bank as provided in the Approval Letter. This authorization shall continue in full force and effect until the date which is five (5) Business Days after the date on which Bank actually receives written notice from Borrower expressly revoking this authority granted to Bank. Bank reserves the right to terminate the arrangement for automatic deductions from the Account at any time effective upon written notice to Borrower. Borrower shall maintain the Account at all times during the term of this Agreement.

Automatic Payment Authorization. So long as the Loan is outstanding and First Republic Bank has not sold, transferred, assigned or participated out its interest in the Loan to any Person other than an Affiliate and provided that Lender provides commercially reasonable services for such accounts, Borrower authorizes Lender to make automatic deductions from the following deposit account (“Account”) maintained by Borrower at Lender’s offices in order to pay, when and as due, all of the Payments that Borrower is required or obligated to make under this Master Loan Agreement: Without limiting any of the terms of the Loan Documents, Borrower acknowledges and agrees that if Borrower defaults in its obligation to make a Payment because the collected funds in the Account are insufficient to make such Payment in full on the date that such Payment is due, then Borrower shall be responsible for all late payment charges and other consequences of such default by Borrower under the terms of the Loan Documents.

Automatic Payment Authorization. Borrower authorizes Bank to make automatic deductions from the following deposit account (“Borrower’s Account”) maintained by Borrower at Bank’s offices in order to pay, when and as due, all of the regularly scheduled installment payments of interest, principal, or both principal and interest (an “Automatic Payment”) that Borrower is required or obligated to make under the Note: Account No: 96600700608 Bank agrees to provide Borrower with ten (10) days prior written notice before making any such automatic deductions.

Automatic Payment Authorization. By signing this Membership Agreement you agree that: (1) to the best of your knowledge everything you state on this Membership Agreement is accurate; (2) OSR may retain this Membership Agreement whether or not it is approved; (3) OSR is authorized to check your references and your credit employment history, to verify any information you have provided, and to answer any inquiries about credit experience with you; (4) OSR is authorized to order a consumer report about you in connection with this Membership Agreement, updates and renewals of this Membership Agreement, and any further extension of credit; and (5) OSR has the right to charge to the credit card listed in this Membership Agreement any amounts due to OSR more than sixty (60) days.