Common use of Debits to Account for ACH Transfers Clause in Contracts

Debits to Account for ACH Transfers. For purposes of Section 2.2 and 5.10 of the Loan and Security Agreement, the Primary Operating Account shall be the bank account set forth in Section 8 above. Borrower hereby agrees that Loans will be advanced to the account specified above and regularly scheduled payments of principal, interest and Final Payments will be automatically debited from the same account.

Appears in 2 contracts

Samples: Loan and Security Agreement (Quepasa Corp), Loan and Security Agreement (Quepasa Corp)

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Debits to Account for ACH Transfers. For purposes of Section 2.2 and 5.10 of the Loan and Security Agreement, the Primary Operating Account shall be the bank account set forth in Section 8 above, unless and until such account is changed in accordance with Section 5.10 of the Loan and Security Agreement. Borrower hereby agrees that Loans will be advanced to the account specified above and regularly scheduled payments of principal, principal and interest and Final Payments will be automatically debited from the same account.

Appears in 1 contract

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

Debits to Account for ACH Transfers. For purposes of Section Sections 2.2 and 5.10 of the Loan and Security Agreement, the Primary Operating Account shall be the bank account set forth in Section 8 abovePart 2.7 of the Disclosure Letter. Borrower Borrowers hereby agrees agree that Loans will be advanced to the account specified above and regularly scheduled payments of principal, interest and Final Payments will be automatically debited from the same account.

Appears in 1 contract

Samples: Loan and Security Agreement (Bacterin International Holdings, Inc.)

Debits to Account for ACH Transfers. For purposes of Section Sections 2.2 and 5.10 of the Loan and Security Agreement, the Primary Operating Account shall be the bank account set forth in Section 8 above. Borrower hereby agrees that Loans the Growth Capital Loan will be advanced to the account specified above and regularly scheduled payments of principal, principal and interest and Final Payments will be automatically debited from the same account.

Appears in 1 contract

Samples: Loan and Security Agreement (Meru Networks Inc)

Debits to Account for ACH Transfers. For purposes of Section 2.2 and 5.10 of the Loan and Security Agreement, the Primary Operating Account shall be the bank account set forth in Section 8 9 above. Borrower hereby agrees that Loans will be advanced to the account specified above and regularly scheduled payments of principal, interest and Final Payments will be automatically debited from the same account.

Appears in 1 contract

Samples: Loan and Security Agreement (Quepasa Corp)

Debits to Account for ACH Transfers. For purposes of Section 2.2 and 5.10 of the Loan and Security Agreement, the Primary Operating Account shall be the bank account set forth in Section 8 9 above. Borrower hereby agrees that Loans will be advanced to the account specified above and regularly scheduled payments of principal, principal and interest and Final Payments will be automatically debited from the same account.

Appears in 1 contract

Samples: Loan and Security Agreement (Emphasys Medical, Inc.)

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Debits to Account for ACH Transfers. For purposes of Section 2.2 and 5.10 of the Loan and Security Agreement, the Borrower’s Primary Operating Account shall be the bank account set forth in Section 8 above. Borrower hereby agrees that Loans will be advanced to the account specified above and regularly scheduled monthly payments of principal, principal and interest and any Final Payments will be automatically debited from the same account.

Appears in 1 contract

Samples: Loan and Security Agreement (Oculus Innovative Sciences, Inc.)

Debits to Account for ACH Transfers. For purposes of Section 2.2 and 5.10 of the Loan and Security Agreement, the Borrower’s Primary Operating Account shall be the bank account set forth in Section 8 7 above. Borrower hereby agrees that Loans will be advanced to the account specified above and regularly scheduled monthly payments of principal, principal and interest and any Final Payments will be automatically debited from the same account.

Appears in 1 contract

Samples: Loan and Security Agreement (Oculus Innovative Sciences, Inc.)

Debits to Account for ACH Transfers. For purposes of Section Sections 2.2 and 5.10 of the Loan and Security Agreement, the Primary Operating Account shall be the bank account set forth in Section 8 above6 above until such account is changed in accordance with Section 5.10 of the Loan and Security Agreement. Borrower Borrowers hereby agrees agree that the Growth Capital Loans will be advanced to the account specified above and regularly scheduled payments of principalprincipal and interest, interest and Final Payments as well as the Documentation Fees, will be automatically debited from the same account.

Appears in 1 contract

Samples: Loan and Security Agreement (Virtuix Holdings Inc.)

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