Common use of Automatic Payment Clause in Contracts

Automatic Payment. The Borrowers authorize the Administrative Agent to automatically debit the Borrowers' demand deposit accounts with the Administrative Agent on the Interest Payment Date or such other dates when due for all principal, interest, fees, costs, commissions, service charges and expenses due to the Lenders on account of the Liabilities.

Automatic Payment. The Borrowers authorize the Administrative Agent to automatically debit the Borrowers' demand deposit accounts with the Administrative Agent on the Interest Payment Date or such other dates when due for all principal, interest, fees, costs, commissions, service charges and expenses due to the Lenders on account of the LiabilitiesLenders.

Automatic Payment. The Borrowers authorize the Administrative Agent to automatically debit the Borrowers' ’ demand deposit accounts with the Administrative Agent on the Interest Payment Date or such other dates when due for all principal, interest, fees, costs, commissions, service charges and expenses due to the Lenders on account of the Liabilities.