Common use of AMOUNTS PAYABLE ON DEMAND Clause in Contracts

AMOUNTS PAYABLE ON DEMAND. If the Borrower fails to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower's failure to pay such amount, create an Advance in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided under this Line of Credit facility. In addition, the Borrower hereby authorizes the Bank, if and to the extent payment owed to the Bank under this Line of Credit facility is not made when due, to charge, from time to time, against any or all of the deposit accounts maintained by the Borrower with the Bank any amount so due.

Appears in 7 contracts

Samples: Credit Agreement (Align Rite International Inc), Commercial Credit Agreement (Applied Signal Technology Inc), Line of Credit Agreement (Scheid Vineyards Inc)

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AMOUNTS PAYABLE ON DEMAND. If the Borrower fails to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower's failure to pay such amount, create an Advance in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided under this Line of Credit facility. In addition, the Borrower hereby authorizes the Bank, if and to the extent payment owed to the Bank under this Line of Credit facility is not made when due, to charge, from time to time, against any or all of the deposit accounts maintained by the Borrower with the Bank any amount so due. 2.03.

Appears in 2 contracts

Samples: Commercial Credit Agreement (Applied Signal Technology Inc), Line of Credit Agreement (Applied Signal Technology Inc)

AMOUNTS PAYABLE ON DEMAND. If the Borrower fails to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower's failure to pay such amount, create an Advance in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided under this Crop Line of Credit facilityCredit. In addition, the Borrower hereby authorizes the Bank, if and to the extent payment owed to the Bank under this Crop Line of Credit facility is not made when due, to charge, from time to time, against any or all of the deposit accounts maintained with the Bank by the Borrower with the Bank any amount so due.

Appears in 1 contract

Samples: Agricultural Credit Agreement (Scheid Vineyards Inc)

AMOUNTS PAYABLE ON DEMAND. If the Borrower fails to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower's failure to pay such amount, create an Advance in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided under this Equipment Line of Credit facility. In addition, the Borrower hereby authorizes the Bank, if and to the extent payment owed to the Bank under this Equipment Line of Credit facility is not made when due, to charge, from time to time, against any or all of the deposit accounts maintained by the Borrower with the Bank any amount so due.

Appears in 1 contract

Samples: Commercial Credit Agreement (Interactive Group Inc)

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AMOUNTS PAYABLE ON DEMAND. If the Borrower fails to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower's failure to pay such amount, create an Advance in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided under this Crop Line of Credit facilityCredit. In addition, the Borrower hereby authorizes the Bank, if and to the extent payment owed to the Bank under this Crop Line of Credit facility is not made when due, to charge, from time to time, against any or all of the Borrower's deposit accounts maintained by the Borrower with the Bank any amount so due.

Appears in 1 contract

Samples: Agricultural Credit Agreement (Scheid Vineyards Inc)

AMOUNTS PAYABLE ON DEMAND. If the Borrower fails Borrowers fail to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower's Borrowers' failure to pay such amount, create an Advance in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided under this Line of Credit facility. In addition, the Borrower Borrowers hereby authorizes authorize the Bank, if and to the extent payment owed to the Bank under this Line of Credit facility is not made when due, to charge, from time to time, against any or all of the deposit accounts maintained by the any Borrower with the Bank any amount so due.

Appears in 1 contract

Samples: Line of Credit Agreement (Tag It Pacific Inc)

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