Common use of Operating and Deposit Accounts Clause in Contracts

Operating and Deposit Accounts. The Borrower shall maintain with the Bank its primary operating and deposit accounts. At the option of the Bank, all loan payments and fees will automatically be debited from the Borrower’s primary operating account and all advances will automatically be credited to the Borrower’s primary operating account.

Appears in 11 contracts

Samples: Loan Agreement, Loan Agreement (Sono Tek Corp), Loan Agreement (Sono Tek Corp)

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Operating and Deposit Accounts. The Borrower shall maintain with the Bank its primary operating and deposit accounts. At the option of the Bank, all loan payments and fees will automatically be debited from the Borrower’s 's primary operating account and all advances will automatically be credited to the Borrower’s 's primary operating account.

Appears in 7 contracts

Samples: Loan and Security Agreement (Chembio Diagnostics, Inc.), Loan and Security Agreement (Diversified Restaurant Holdings, Inc.), Loan Agreement (Moixa Iii, Inc.)

Operating and Deposit Accounts. The Borrower shall maintain with the Bank its primary operating and deposit accounts. At the option of the Bank, all loan payments and fees leas will automatically be debited from the Borrower’s 's primary operating account and all advances will automatically be credited to the Borrower’s 's primary operating account.

Appears in 2 contracts

Samples: Loan and Security Agreement (Diversified Restaurant Holdings, Inc.), Loan and Security Agreement (Diversified Restaurant Holdings, Inc.)

Operating and Deposit Accounts. The Borrower shall maintain with the Bank Lender its primary operating and deposit accounts. At the option of the BankLender, all loan payments and fees will automatically be debited from the Borrower’s primary operating account and all advances will automatically be credited to the Borrower’s primary operating account.

Appears in 1 contract

Samples: Revolving Demand Line of Credit Loan Agreement (Stran & Company, Inc.)

Operating and Deposit Accounts. The Borrower shall maintain with the Bank its primary operating and deposit accounts. At accounts for the option term of the Bank, all loan. All loan payments and fees will automatically be debited from the Borrower’s primary operating account and all advances will automatically be credited to the Borrower’s 's primary operating account.

Appears in 1 contract

Samples: Loan Agreement (Sachem Capital Corp.)

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Operating and Deposit Accounts. The Borrower shall maintain with the Account Bank its primary operating and deposit accounts. At the option of the BankLender, all loan payments and fees will automatically be debited from the Borrower’s primary operating account and all advances will automatically be credited to the Borrower’s primary operating account.

Appears in 1 contract

Samples: Loan and Security Agreement (instaCare Corp.)

Operating and Deposit Accounts. The Borrower shall maintain with the Bank its primary operating and deposit accountsaccounts with Bank for so long as any indebtedness or other amounts remain due and outstanding by Borrower to Bank hereunder or Banks shall have a commitment to lend under any of the Loans. At the option of the Bank, all loan payments and fees will automatically be debited from the Borrower’s primary operating account and all advances will automatically be credited to the Borrower’s primary operating account.

Appears in 1 contract

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

Operating and Deposit Accounts. The Borrower shall maintain with the Bank its primary operating and deposit accounts. .. At the option of the Bank, all loan payments and fees will automatically be debited from the Borrower’s primary operating account and all advances will automatically be credited to the Borrower’s primary operating account.

Appears in 1 contract

Samples: Loan and Security Agreement (Document Security Systems Inc)

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