Common use of Debit for Payment Clause in Contracts

Debit for Payment. Any Lender for whose account any such payment is to be made may (but shall not be obligated to) debit the amount of any such payment that is not made by such time to any ordinary deposit account of the Borrowers with such Lender (with notice to the Borrowers and the Administrative Agent), provided that such Lender’s failure to give such notice shall not affect the validity thereof.

Appears in 6 contracts

Samples: Credit Agreement (Mediacom Broadband Corp), Credit Agreement (Mediacom Broadband Corp), Credit Agreement (Mediacom Capital Corp)

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Debit for Payment. Any Lender for whose account any such payment is to be made may (but shall not be obligated to) debit the amount of any such payment that is not made by such time to any ordinary deposit account of the Borrowers with such Lender (with notice to the Borrowers and the Administrative Agent), provided that such Lender’s Xxxxxx's failure to give such notice shall not affect the validity thereof.

Appears in 1 contract

Samples: Credit Agreement (Mediacom Communications Corp)

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Debit for Payment. Any Lender for whose account any such payment ----------------- is to be made may (but shall not be obligated to) debit the amount of any such payment that is not made by such time to any ordinary deposit account of the Borrowers with such Lender (with notice to the Borrowers and the Administrative Agent), provided that such Lender’s 's failure to give such notice shall not affect the validity thereof.

Appears in 1 contract

Samples: Credit Agreement (Mediacom Broadband Corp)

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