Common use of Withdrawal Instruction Clause in Contracts

Withdrawal Instruction. 9.1 In the event that Xxxxxxxx is overdue in payment in respect of principal, interest, penalty interest, compound interest or other expenses, Xxxxxx is authorized to withdraw the money from any other bank accounts of Borrower with Bank of Communication to setoff the said outstanding payment.

Withdrawal Instruction. 9.1 In the event that Xxxxxxxx Bxxxxxxx is overdue in payment in respect of principal, interest, penalty interest, compound interest or other expenses, Xxxxxx Lxxxxx is authorized to withdraw the money from any other bank accounts of Borrower with Bank of Communication to setoff the said outstanding payment.