AUTOMATIC PAYMENT FROM CHECKING ACCOUNT Sample Clauses

AUTOMATIC PAYMENT FROM CHECKING ACCOUNT. If the box at the beginning of this paragraph is checked, you authorize us to take payments due under this Agreement directly from the deposit account which you establish to facilitate repayment of amounts due and owing under this Agreement (the "Checking Account"). This includes the monthly payments, Late Charges, if any, amounts demanded pursuant to this Agreement, and any fees and expenses otherwise imposed under this Agreement. You agree that you will deposit and maintain sufficient funds on balance in the Checking Account to ensure that all such payments can be made on the dates they are due from fully collected and "available" funds. If sufficient funds are not available to make all or part of the payment when due, we can, at our option, continue to look to the Checking Account after the due date to see if adequate funds have become available. If adequate funds have become available, we can then, at our option, take all or part of the payment from the Checking Account. If and when we take this action, it will not prejudice our ability to impose a Late Charge, if applicable, demand repayment hereunder, declare an Event of Default, and/or pursue other rights and remedies available to us.