Common use of Debit of Accounts Clause in Contracts

Debit of Accounts. Bank may debit any of Borrower's deposit or operating accounts, including Account Number __________, for principal and interest payments when due, or any other amounts Borrower owes Bank, when due. Bank shall promptly notify Borrower after it debits Borrower's accounts, and such debits shall reduce the amount of Borrower's Obligations hereunder. These debits shall not constitute a set off.

Appears in 1 contract

Samples: Loan and Security Agreement (Cyberkinetics Neurotechnology Systems, Inc.)

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Debit of Accounts. Bank may debit any of Borrower's deposit or operating accounts, accounts including Account Number __________, _ for principal and interest payments when due, or any other amounts Borrower owes Bank, when due. Bank shall promptly notify Borrower after when it debits Borrower's accounts, and such debits shall reduce the amount of Borrower's Obligations hereunder. These debits shall are not constitute a set set-off.

Appears in 1 contract

Samples: Loan and Security Agreement (Momenta Pharmaceuticals Inc)

Debit of Accounts. Bank may debit any of Borrower's deposit or operating accounts, accounts including Account Number __________, _ for principal and interest payments when due, or any other amounts Borrower owes Bank, when due. Bank shall promptly notify Borrower after when it debits Borrower's accounts, and such debits shall reduce the amount of Borrower's Obligations hereunder. These debits shall not constitute a set set-off.

Appears in 1 contract

Samples: Loan and Security Agreement (Stereotaxis, Inc.)

Debit of Accounts. Bank may debit any of Borrower's deposit or operating accounts, accounts including Account Number __________, _ for principal and interest payments when due, or any other amounts Borrower owes Bank, when dueBank hereunder. Bank shall promptly notify Borrower after when it debits Borrower's accounts, and such debits shall reduce the amount of Borrower's Obligations hereunder. These debits shall are not constitute a set set-off.

Appears in 1 contract

Samples: Loan and Security Agreement (Egenera, Inc.)

Debit of Accounts. Bank may debit any of Borrower's deposit or operating accounts, accounts including Account Number __________, _____ for current principal and interest payments when due, then due for such month or any other amounts Borrower owes Bank, when due. Bank shall promptly notify Borrower after when it debits Borrower's accounts, and such debits shall reduce the amount of Borrower's Obligations hereunder. These debits shall are not constitute a set offset-off but automatic payments.

Appears in 1 contract

Samples: Loan and Security Agreement (Open Solutions Inc)

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Debit of Accounts. Bank may debit any of Borrower's deposit or operating accounts, including Account Number __________, for principal and interest payments when due, or any other amounts Borrower owes Bank, when due. Bank shall promptly notify Borrower after it debits Borrower's accounts, and such debits shall reduce the amount of Borrower's Obligations hereunder. These debits shall not constitute a set set-off.

Appears in 1 contract

Samples: Loan and Security Agreement (Lynx Therapeutics Inc)

Debit of Accounts. Bank may debit any of Borrower's ’s deposit or operating accounts, including Account Number __________XXXXXXXXXX, for principal and interest payments when due, or any other amounts Borrower owes Bank, when due. Bank shall promptly notify Borrower after it debits Borrower's ’s accounts, and such debits shall reduce the amount of Borrower's Obligations hereunder. These debits shall not constitute a set off.

Appears in 1 contract

Samples: Loan and Security Agreement (ClearStory Systems, Inc.)

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