Debit of Accounts. Lender may debit the Designated Deposit Account (and, if an Event of Default has occurred and remains unwaived, any of Borrower’s accounts) through automatic debit of such accounts, Automated Clearinghouse (“ACH”) or other transfers, for principal and interest payments or any other amounts Borrower owes Lender when due. These debits shall not constitute a set-off.
Appears in 2 contracts
Samples: Loan and Security Agreement (Cerus Corp), Loan and Security Agreement (Cerus Corp)
Debit of Accounts. In the event not received by Lender when due, or as Lender and Borrower may otherwise agree in writing, Lender may debit the Designated Deposit Account (and, if an Event of Default has occurred and remains unwaived, any of Borrower’s deposit accounts) , including the Designated Deposit Account, through automatic debit of such accounts, Automated Clearinghouse (“ACH”) or other transfers, for principal principal, interest and interest payments or any other amounts Obligations owing by Borrower owes to Lender when due. These debits shall not constitute a set-off.
Appears in 2 contracts
Samples: Loan and Security Agreement (Titan Pharmaceuticals Inc), Loan and Security Agreement (Titan Pharmaceuticals Inc)
Debit of Accounts. Lender may debit the Designated Deposit Account (and, if an Event of Default has occurred and remains unwaived, any of Borrower’s deposit accounts) , including the Designated Deposit Account, through automatic debit of such accounts, Automated Clearinghouse (“ACH”) or other transfers, for principal and interest payments or any other amounts Borrower owes Lender when due. These debits shall not constitute a set-off.
Appears in 1 contract
Samples: Loan and Security Agreement (Alphatec Holdings, Inc.)
