Debit of Accounts. HSBC may debit any of Borrower’s deposit accounts, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes HSBC when due. These debits shall not constitute a set-off.
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Samples: Loan and Security Agreement (Acme United Corp), Loan and Security Agreement (Acme United Corp), Loan and Security Agreement (Acme United Corp)
Debit of Accounts. HSBC may debit any of Borrower’s deposit accountsDeposit Accounts maintained with HSBC, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes HSBC when due. These debits shall not constitute a set-offIn addition, during the existence of an Event of Default, HSBC may debit any other accounts of Borrower maintained with HSBC with respect to any amounts owing by Borrower to HSBC.
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