Common use of Authorization to Debit Clause in Contracts

Authorization to Debit. In addition to any other authorizations to and rights of Buyer hereunder, each of Guarantor and Seller hereby expressly authorizes Buyer to debit any account maintained by Guarantor or Seller with Buyer into which any funds related to the Purchased Assets or related Purchased Items have been deposited (excluding, for the avoidance of doubt, any escrow accounts maintained for the benefit of the related Mortgagors), including without limitation, any operating, settlement or custodial account, for any and all amounts due Buyer hereunder. For the avoidance of doubt, the foregoing debit rights of Buyer shall not apply to Purchased Assets which have been repurchased by Seller pursuant to Section 6.4.