Debit Account. Borrower agrees that the interest and principal payments and any fees will be deducted automatically on the due date from such of Borrower’s accounts with Lender as designated in writing by Borrower. This authorization shall not affect the obligation of Borrower to pay such sums when due, without notice, if there are insufficient funds in such account to make such payment in full on the due date thereof, or if Lender fails to debit such account.
Appears in 3 contracts
Samples: Credit Agreement (Northstar Healthcare Inc), Credit Agreement (Deep Down, Inc.), Credit Agreement (Deep Down, Inc.)
Debit Account. Borrower agrees that the interest and principal payments and any fees will be deducted automatically on the due date from Borrower’s account number 488032919202 or such other of Borrower’s accounts with Lender as designated in writing by Borrower. This authorization shall not affect the obligation of Borrower to pay such sums when due, without notice, if there are insufficient funds in such account to make such payment in full on the due date thereof, or if Lender fails to debit such account.
Appears in 1 contract
Debit Account. Each Borrower agrees that the interest and principal payments and any fees due hereunder will be deducted automatically on the due date from such of Borrower’s Borrowers’ accounts with Lender Xxxxxx as designated in writing by BorrowerBorrower Representative. This authorization shall not affect the obligation of Borrower Borrowers to pay such sums when due, without notice, if there are insufficient funds in such account to make such payment in full on the due date thereof, or if Lender fails to debit such account.
Appears in 1 contract
