Common use of Automatic Payments Clause in Contracts

Automatic Payments. Borrower hereby authorizes Lender automatically to deduct from Borrower’s account numbered 3279435327 the amount of any loan payment. If the funds in the account are insufficient to cover any payment, Lender shall not be obligated to advance funds to cover the payment. At any time and for any reason, Borrower or Lender may voluntarily terminate Automatic Payments.

Appears in 2 contracts

Samples: Business Loan Agreement and Promissory Note, Business Loan Agreement (Transcend Services Inc)

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Automatic Payments. Borrower hereby authorizes Lender automatically to deduct from Borrower’s account account, numbered 3279435327 101032936, the amount of any loan payment. If the funds in the account are insufficient to cover any payment, Lender shall not be obligated to advance funds to cover the payment. At any time and for any reason, Borrower or Lender may voluntarily terminate Automatic Payments.

Appears in 1 contract

Samples: Business Loan Agreement (Asset Based)

Automatic Payments. Borrower hereby authorizes Lender automatically to deduct from Borrower’s account numbered 3279435327 the amount of any loan payment. If the funds in the account are ere insufficient to cover any payment, Lender shall not be obligated to advance funds to cover the payment. At any time and for any reason, Borrower or Lender may voluntarily terminate Automatic Payments.

Appears in 1 contract

Samples: Loan Agreement (Transcend Services Inc)

Automatic Payments. Borrower hereby authorizes Lender automatically to deduct from Borrower’s 's account numbered 3279435327 14592-06005 the amount of any loan payment. If the funds in the account are insufficient to cover any payment, Lender shall not be obligated to advance funds to cover the payment. At any time and for any reason, Borrower or Lender may voluntarily terminate Automatic Payments.

Appears in 1 contract

Samples: Promissory Note (Newport Corp)

Automatic Payments. Borrower hereby authorizes Lender automatically to deduct from Borrower’s account numbered 3279435327 003279435327 the amount of any loan payment. If the funds in the account are insufficient to cover any payment, Lender shall not be obligated to advance funds to cover the payment. At any time and for any reason, Borrower or Lender may voluntarily terminate Automatic Payments.

Appears in 1 contract

Samples: Business Loan Agreement (Transcend Services Inc)

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Automatic Payments. Borrower hereby authorizes Lender automatically to deduct from Borrower’s 's account numbered 3279435327 000-000-0 the amount of any loan payment. If the funds in the account are insufficient to cover any payment, Lender shall not be obligated to advance funds to cover the payment. At any time and for any reason, Borrower or Lender may voluntarily terminate Automatic Payments.

Appears in 1 contract

Samples: Loan Agreement (Ion Networks Inc)

Automatic Payments. Borrower hereby authorizes Lender automatically to deduct from Borrower’s account 's Demand Deposit - Checking account, numbered 3279435327 00000000, the amount of any loan payment. If the funds in the account are insufficient to cover any payment, Lender shall not be obligated to advance funds to cover the payment. At any time and for any reason, Borrower or Lender may voluntarily terminate Automatic Payments.

Appears in 1 contract

Samples: Construction Loan Agreement (Applied Optoelectronics, Inc.)

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