Authorization for Direct Payment Clause Samples
The Authorization for Direct Payment clause allows a party to instruct a third party, such as a bank or employer, to make payments directly to another designated party. In practice, this clause is often used in situations like loan repayments, child support, or vendor payments, where funds are automatically transferred from the payer’s account to the recipient without manual intervention. Its core function is to ensure timely and reliable payments by streamlining the payment process and reducing the risk of missed or delayed payments.
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Authorization for Direct Payment. To effectuate any payment due under this Agreement, Borrower hereby requests and authorizes Lender to make advances directly to itself (to be charged against the Revolving Loan Sublimit) for payment and reimbursement of all interest, charges, actual and reasonable costs and expenses incurred by Lender in connection with the Loan, including, but not limited to, (i) interest due on the Loan, the Closing Fee, and other fees due to Lender in connection with the Loan; (ii) all filing, search, recording and registration fees and charges; (iii) all casualty, liability or other insurance premiums; and (iv) all reasonable Attorney’s Fees and Costs, including, without limitation, counsel engaged in connection with the enforcement or administration of this Agreement or any of the Loan Documents.
Authorization for Direct Payment. Direct Payment via ACH is the transfer of funds to or from a consumer account for the purpose of making or receiving a payment. I (we) authorize Gifted Travel Network, Inc. (“COMPANY”) to electronically credit my (our) account (and, if necessary, electronically debit my (our) account to correct erroneous credits) as follows: Please select one: Personal Checking Account Personal Savings Account Business Checking Account Business Savings Account at the depository financial institution named below (“DEPOSITORY”). I (we) agree that ACH transactions I (we) authorize comply with all applicable law. Depository Name (Bank Name) Name on Account Billing Address on Account Routing Number Account Number Amount of credit(s) will vary month-to-month and will be based on commissions payable at “report date” as determined by separately executed Independent Contractor contract with Gifted Travel Network. Date(s) and/or frequency of credits (s): Monthly between the 1st and the 10th of each calendar month. I (we) understand that this authorization will remain in full force and effect until I (we) notify COMPANY in writing to ▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ that I (we) wish to revoke this authorization. I (we) understand that COMPANY requires at least 3 weeks prior notice in order to cancel this authorization. Name(s) (Please Print) Date Signature(s)
Authorization for Direct Payment. I authorize the ▇▇▇’▇ Summit Water Utility and the financial institution named above to initiate entries to my checking/savings account. This authority will remain in effect until I notify you in writing to cancel it in such a time as to afford the financial institution a reasonable opportunity to act on it. The ▇▇▇’▇ Summit Water Utility reserves the right to terminate this payment plan or participation therein with due notification to the utility billing customer. I agree to be responsible for notifying the ▇▇▇’▇ Summit Water Utilities in writing of any changes in name, address or bank account informa- tion. I understand that ▇▇▇’▇ Summit Water Utilities retains the right to impose service fees for all dishonored depository items.
Authorization for Direct Payment. To effectuate any payment due under this Agreement, Borrower hereby requests and authorizes Lender to make advances directly to itself for payment and reimbursement of all interest, charges, actual and reasonable costs and expenses incurred by L▇▇▇▇▇ in connection with the Loan, including, but not limited to, (i) interest due on the Loan, and other fees due to Lender in connection with the Loan (including, reasonable Attorney’s Fees and Costs); (ii) all filing, search, recording and registration fees and charges; (iii) all casualty, liability or other insurance premiums; and (iv) all reasonable Attorney’s Fees and Costs, including, without limitation, counsel engaged in connection with the enforcement or administration of this Agreement or any of the Loan Documents. Borrower shall be responsible to repay any Over-Advances arising as a result of this Section 4.3 and any such Over-Advance shall constitute Obligations due and payable to Lender hereunder.