Common use of Account Debit Clause in Contracts

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 33 contracts

Samples: Credit Agreement (Shimmick Corp), Credit Agreement (FCStone Group, Inc.), Credit Agreement (DG FastChannel, Inc)

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Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to to, solely during the continuation of an Event of Default, charge any of the Borrower’s deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 16 contracts

Samples: Credit Agreement (American Finance Trust, Inc), Credit Agreement (Umh Properties, Inc.), Credit Agreement (Global Medical REIT Inc.)

Account Debit. The Borrower Borrowers hereby irrevocably authorizes authorize the Administrative Agent to charge any of the Borrower’s deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges Borrowers acknowledge and agrees agree that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower Borrowers or any other Person for the Administrative Agent’s failure to do so.

Appears in 6 contracts

Samples: Credit Agreement (Delek US Holdings, Inc.), Credit Agreement (Delek Logistics Partners, LP), Credit Agreement (Delek Logistics Partners, LP)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts maintained with the Administrative Agent or any of its Affiliates for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 6 contracts

Samples: Credit Agreement (LTC Properties Inc), Credit Agreement (LTC Properties Inc), Credit Agreement (LTC Properties Inc)

Account Debit. The Each Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the such Borrower’s deposit accounts maintained with the Administrative Agent or its affiliates for the amounts from time to time necessary to pay any then due Obligations; provided that the each Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the any Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 3 contracts

Samples: Multicurrency Credit Agreement (Fenix Parts, Inc.), Multicurrency Credit Agreement (Fenix Parts, Inc.), Multicurrency Credit Agreement (Fenix Parts, Inc.)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent Agent, with its prior written consent, to charge any of the BorrowerXxxxxxxx’s deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower Xxxxxxxx acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 3 contracts

Samples: Credit Agreement (AlTi Global, Inc.), Credit Agreement (Alvarium Tiedemann Holdings, Inc.), Credit Agreement (AlTi Global, Inc.)

Account Debit. The Borrower Each of the Borrowers hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s Borrowers’ deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that each of the Borrower Borrowers acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the any Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 3 contracts

Samples: Credit and Guaranty Agreement (Sparton Corp), Credit and Guaranty Agreement (Sparton Corp), Credit and Guaranty Agreement (Sparton Corp)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts maintained with the Administrative Agent BMO Xxxxxx Bank N.A. for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 3 contracts

Samples: Credit Agreement (Willdan Group, Inc.), Credit Agreement (Willdan Group, Inc.), Credit Agreement (Willdan Group, Inc.)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 3 contracts

Samples: Credit Agreement (Sterling Construction Co Inc), Credit Agreement (AssetMark Financial Holdings, Inc.), Credit Agreement (AssetMark Financial Holdings, Inc.)

Account Debit. The Each Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the such Borrower’s deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges Borrowers acknowledge and agrees agree that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower Borrowers or any other Person for the Administrative Agent’s failure to do so.

Appears in 3 contracts

Samples: Credit Agreement (Rc2 Corp), Credit Agreement (Rc2 Corp), Credit Agreement (Rc2 Corp)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s 's deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s 's failure to do so.

Appears in 3 contracts

Samples: Credit Agreement (International Assets Holding Corp), Credit Agreement (International Assets Holding Corp), Credit Agreement (Intl Fcstone Inc.)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts maintained with the Administrative Agent or its Affiliates for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 2 contracts

Samples: Credit Agreement (Penford Corp), Term Loan Credit Agreement (Penford Corp)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit account or accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 2 contracts

Samples: Credit Agreement (Plexus Corp), Credit Agreement (Plexus Corp)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the BorrowerXxxxxxxx’s deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower Xxxxxxxx acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.. Section 2.15

Appears in 2 contracts

Samples: Credit Agreement (Sterling Infrastructure, Inc.), Credit Agreement (Sterling Infrastructure, Inc.)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s 's deposit account or accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s 's failure to do so.

Appears in 2 contracts

Samples: Credit Agreement (Plexus Corp), Credit Agreement (Amcol International Corp)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts (other than a Reserve Account) maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 1 contract

Samples: Credit Agreement (Northern Star Investment Corp. II)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s 's deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligationsinterest or fee payments hereunder; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s 's failure to do so.

Appears in 1 contract

Samples: Credit Agreement (Fifth Street Finance Corp)

Account Debit. The Borrower Borrowers hereby irrevocably authorizes authorize the Administrative Agent to charge any of the Borrower’s deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges Borrowers acknowledge and agrees agree that the Administrative Agent shall not be under an obligation -77‑ to do so and the Administrative Agent shall not incur any liability to the Borrower Borrowers or any other Person for the Administrative Agent’s failure to do so.

Appears in 1 contract

Samples: Credit Agreement (Delek US Holdings, Inc.)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.. Section 2.15

Appears in 1 contract

Samples: Credit Agreement (Sterling Construction Co Inc)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s 's deposit accounts maintained with the Administrative Agent Agent, if any, for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s 's failure to do so.

Appears in 1 contract

Samples: Credit Agreement (CalAmp Corp.)

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Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s its deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s 's failure to do so.

Appears in 1 contract

Samples: Credit Agreement

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts (other than payroll, escrow or trust accounts) maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 1 contract

Samples: Credit Agreement (Lecg Corp)

Account Debit. The Each Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the such Borrower’s 's deposit account or accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the each Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the any Borrower or any other Person for the Administrative Agent’s 's failure to do so.

Appears in 1 contract

Samples: Credit Agreement (Amcol International Corp)

Account Debit. The Each Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s Borrowers’ deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the each Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the either Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 1 contract

Samples: Credit Agreement (Hub Group, Inc.)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Secured Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 1 contract

Samples: Credit Agreement (Cowen Inc.)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided provided, that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 1 contract

Samples: Credit Agreement (Monmouth Real Estate Investment Corp)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts maintained with the Administrative Agent BMO Bank N.A. for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 1 contract

Samples: Credit Agreement (Willdan Group, Inc.)

Account Debit. The Borrower Borrowers hereby irrevocably authorizes authorize the Administrative Agent to charge any of the Borrower’s Borrowers’ deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that provided, that, the Borrower acknowledges Borrowers acknowledge and agrees agree that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower Borrowers or any other Person for the Administrative Agent’s failure to do so.

Appears in 1 contract

Samples: Credit Agreement (Globe Specialty Metals Inc)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts maintained with the Administrative Agent during the existing of any Event of Default for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 1 contract

Samples: Credit Agreement (Maf Bancorp Inc)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts account no. 00000000 maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 1 contract

Samples: Credit Agreement (Techne Corp /Mn/)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts maintained with the Administrative Agent or any WFPC Affiliate for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so.

Appears in 1 contract

Samples: Subordinated Credit Agreement (World Acceptance Corp)

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s its deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s 's failure to do so.

Appears in 1 contract

Samples: Credit Agreement

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts maintained with the Administrative Agent Agent, if any, for the amounts from time to time necessary to pay any then due ObligationsDebt and interest thereon; provided that the Borrower acknowledges and agrees that the that, except as otherwise expressly set forth herein, Administrative Agent shall not be under an obligation to do so and the and, in all events, Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure debiting of an account or failing to do so.

Appears in 1 contract

Samples: Loan Agreement (Seven Hills Realty Trust)

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