Common use of Direct Debit Mandate Clause in Contracts

Direct Debit Mandate. 11.1. By signing the Direct Debit Authorisation and Instruction included in Part D (or, in respect of a Further Loan, a new Part D) of this Agreement, the Borrower authorises the Lender to satisfy the Borrower’s payment obligations under a Loan by making a charge against a bank account held by the Borrower. 11.2. The Borrower acknowledges that the Lender is under no obligation to obtain payment of the Borrower’s obligations solely by making a charge against a bank account held by the Borrower, and that it has a right at any time to call for payment by other methods, including without limitation by way of deductions, from the Borrower’s salary or directly from the Borrower. 11.3. The Borrower agrees that should funds not be available at the time that the direct debit is presented to the Borrower’s bank, the Lender may continue presenting the unpaid debit instruction for as long as it chooses to do so. 11.4. The Borrower remains fully liable and responsible for payments of all amounts due and payable under this Agreement notwithstanding any failure by the Lender or any other person to effect payment thereof by way of making a charge against a bank account held by the Borrower, 11.5. The Borrower is responsible for all bank charges, charged by the Borrower’s bank to the Borrower, for all attempts to effect this payment. 11.6. The Borrower will immediately notify the Lender if the Borrower changes the bank account into which the Borrower’s salary is paid, as indicated in the relevant Loan Application Form.

Direct Debit Mandate. 11.110.1. By signing the Direct Debit Authorisation and Instruction direct debit mandate which the Credit Provider has included in Part D (or, in respect of a Further Loan, a new Part D) of this Agreement, the Borrower authorises the Lender Credit Provider to satisfy the Borrower’s payment obligations under a Loan by making a charge against a bank account held by the Borrower. 11.2. The Borrower acknowledges that the Lender Credit Provider is under no obligation to obtain payment of the Borrower’s obligations solely by making a charge against a bank account held by the Borrower, and that it has a right at any time to call for payment by other methods, including without limitation by way of deductions, from the Borrower’s Borrowers salary or directly from the Borrower. 11.310.2. The Borrower agrees that should funds not be available at the time that the direct debit is presented to the Borrower’s bank, the Lender Credit Provider may continue presenting the unpaid debit instruction for as long as it chooses to do so. 11.410.3. The Borrower remains fully liable and responsible for payments payment of all amounts due and payable under this Agreement notwithstanding any failure by the Lender Credit Provider or any other person to effect payment thereof by way of a making a charge against a bank account held by the Borrower,. 11.510.4. The Borrower is responsible for all bank charges, charged by the Borrower’s bank to the Borrower, for all attempts to effect this payment. 11.610.5. The Borrower will immediately notify the Lender Credit Provider if the Borrower changes the bank account account, as indicated in Part A, into which the Borrower’s salary is paid, as indicated in the relevant Loan Application Form.