Automatic Deduction. On each date when the payment of any principal, interest or fees are due hereunder or under any Note, Borrower agrees to maintain on deposit in an ordinary checking account maintained by Borrower with Administrative Agent (as such account shall be designated by Borrower in a written notice to Administrative Agent from time to time, the “Borrower Account”) an amount sufficient to pay such principal, interest or fees in full. Borrower hereby authorizes Administrative Agent (i) to deduct automatically all interest or fees when due hereunder or under the Notes from Borrower Account, and (ii) if and to the extent any payment under this Agreement or any other Loan Document is not made when due, to deduct automatically any such amount from any or all of the accounts of Borrower maintained with Administrative Agent. Administrative Agent agrees to provide timely notice to Borrower of any automatic deduction made pursuant to this Section 2.12.
Automatic Deduction. (a) Throughout the term of the Loan, Borrowers shall maintain the Checking Account in good standing with Lender. Each Borrower hereby grants to Lender a security interest in the Checking Account for the purpose of securing the Obligations.
Automatic Deduction. (a) Throughout the term of the Loan, Opportunity OP shall maintain a Checking Account in good standing with Lender, in addition to each Borrower that owns an Eligible Property which is part of the Collateral Pool who shall maintain a Checking Account with respect to its Eligible Property as such Eligible Property’s operating account. Each Borrower hereby grants to Lender a security interest in the Checking Account, and any other accounts and deposit accounts from which such Borrower may from time to time authorize Lender to debit payments due on the Loan, for the purpose of securing the Obligations.
Automatic Deduction. Xxxxxxxx agrees that principal and interest payments on the Note will be deducted automatically on the due date from checking account number 17685-00608 maintained by Xxxxxxxx at Lender (the “Checking Account”). Lender will debit the Checking Account on the dates the payments become due. If a due date does not fall on a Business Day, Lender will debit the Checking Account on the first Business Day following the due date. Borrower will maintain the Checking Account in good standing with Lender throughout the term of the Loan, and maintain sufficient funds in the Checking Account on the dates Lender enters debits authorized by this Agreement. If there are insufficient funds in the Checking Account on the date Lender enters any debit authorized by this Agreement, without limiting Lender’s other remedies in such an event, Lender may reverse the debit.
Automatic Deduction. You agree that each payment of fees, out-of-pocket expenses incurred by the Bank to activate your Business Line of Credit, late charges, interest, and principal owing pursuant to this Agreement shall be made by automatic deduction from your Account. Alternatively, fees and/or out-of-pocket expenses may be charged to your Business Line of Credit. If you make a payment using a check, or any method other than automatic deduction from your Account, and the payment is sufficient to cover your next minimum payment due, and (1) your account is a Term Loan, the automatic deduction will not occur; or (2) your Account is a Line, the automatic deduction from your Account for that payment will occur. If your Account is closed for any reason, or if there are insufficient funds in the Account to pay the sum due, the Bank may terminate payments by automatic deduction and increase the interest rate on your Business Line of Credit by one (1) percentage points. You agree that the Bank may also charge any other deposit account held in the same legal ownership to recover any sums owing. Automatic deduction from account number 0670043053 Account Name BIOMERICA, INC.
Automatic Deduction. Borrower agrees that monthly interest payments and quarterly principal payments on the Note will be deducted automatically on the due date from checking account number 14581-26311 maintained by Borrower at the Bank (the "Checking Account"). Bank will debit the Checking Account on the dates the payments become due. If a due date does not fall on a banking day, Bank will debit the Checking Account on the first banking day following the due date. Borrower will maintain the Checking Account in good standing with Bank throughout the term of the Loan, and maintain sufficient funds in the Checking Account on the dates Bank enters debits authorized by this Agreement. If there are insufficient funds in the Checking Account on the date Bank enters any debit authorized by this Agreement, without limiting Bank's other remedies in such an event, the debit will be reversed. Borrower hereby grants to Bank a security interest in the Checking Account, and any other accounts from which Borrower may from time to time authorize Bank to debit payments due on the Loan, for the purpose of securing the payment of amounts Bank is authorized to deduct from the Checking Account or such other accounts. The security interest is granted only to the extent of such authorized deductions, and does not secure any other obligation owed by Borrower to Bank, whether under this Agreement or otherwise.
Automatic Deduction. Westbank hereby grants to IOI a limited power of attorney that IOI may use at any time to automatically deduct each due and owing installment of the ASC Services Fee from the ASC's designated bank account. Appropriate automatic withdrawal forms required by the ASC's banking institution will be executed by Westbank prior to or after the Commencement Date, as may be required from time to time by the ASC's bank.
Automatic Deduction. The Employer agrees to deduct from the salary of all employees covered by this Agreement within thirty (30) days after the completion of the Probationary Period, Association dues as may from to authorized by the Association and shall forward the same once monthly to the Secretary-Treasurer of Association. OVERTIME PAY Overtime shall be paid to any employee who has called back to work to fill in for another employee subject to Any required to work more than his regular hours, in excess of one-half hour, shall be entitled to receive overtime pay at the rate of time and one-half of his prevailing hourly rate, with minimum of one (1) hour. When an employee is called back to work for fire fighting responsibilities, he shall paid at the rate of and one-half (1 of prevailing hourly rate and with a minimum three (3) hours pay at time and one-half That for voluntary services by employees for lectures and demonstrations approved by the Fire Chief, such employees shall be paid at his prevailing hourly rate based on the actual time of the lecture or demonstration. This Article does not apply to any educational lectures or courses that would be eligible for tuition reimbursement by the Employer. PAY The of Article shall not apply to time required by employees in connection with promotional examinations. In the event of a controversy with respect to any of the matters covered by this Agreement and the event that satisfactory adjustment .cannot be reached, the matter in dispute shall be submitted to an Arbitrator accordance with the Fire Department's Act for the Province of Ontario. It is agreed that each Fire Fighter acting in the capacity of any higher Officer rank shall be paid for each shift or part thereof so worked. at the prevailing rats of pay for such rank. A Captain or Acting Captain shall be assigned to each fire pumper, aerial truck, tanker, emergency rescue van, which is operational on a regular full- time basis The Employer agrees to pay per week or the sum of per day in cases where an employee not required to stay one full week, to any employee who attends any fire training course at Fire College or any other or seminar out of town that requires lodging away from town. This allowance shall be paid in addition to the normal salary, that such seminar or training course is authorized by the Fire RAY Service Pay shall be paid to all employees covered by this Agreement with five (5) years service on the following schedule: per annum after five (5) years of per ...
Automatic Deduction. Fair share fee deductions shall be automatic and not require the written authorization of the employee.
Automatic Deduction. At Borrower’s election, automatic deduction may be used to make payments under the Loan. If Borrower so elects, then the following shall apply:
