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 Equipment Purchase Facility. In addition, the Borrower hereby authorizes the Bank, if and to the extent payment owed to the Bank under this Equipment Purchase Facility is not made when due, to charge, from time to time, against any or all deposit accounts maintained with the Bank by the Borrower any amount so due. SECTION III CONDITIONS PRECEDENT 3.01.

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 Purchase Facility. In addition, the Borrower hereby authorizes the Bank, if and to the extent payment owed to the Bank under this Equipment Purchase Facility is not made when due, to charge, from time to time, against any or all deposit accounts maintained with the Bank by the Borrower any amount so due. SECTION III CONDITIONS PRECEDENT 3.01.

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 Purchase FacilityAccounts Receivable Line of Credit facility. In addition, the Borrower hereby authorizes the Bank, Bank if and to the extent payment owed to the Bank under this Equipment Purchase Facility Accounts Receivable 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 by the Borrower any amount so due. SECTION III CONDITIONS PRECEDENT 3.01.

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 Purchase Facility. In addition, the Borrower hereby authorizes the Bank, if and to the extent payment owed to the Bank under this the Equipment Purchase Facility is not made when due, due to charge, from time to time, against any or all of the Borrower's deposit accounts maintained with the Bank by the Borrower any amount amounts so due. SECTION III CONDITIONS PRECEDENT 3.01.