Automatic Repayment. By opening a Varo Advance Account and requesting an Advance, you agree and consent to repay your Advance in a single automatic repayment from your Bank Account. At the close of business on the auto-repayment date you selected, the outstanding balance, which can be up to the Advance amount plus any fees due, will be automatically deducted from your Bank Account. If your Bank Account has insufficient funds on or after the auto-repayment date, we’ll deduct any balance owed from incoming deposits to your Bank Account until the Advance is fully repaid.
Automatic Repayment. [X] If the box to the left is checked, the following paragraphs apply.
Automatic Repayment. (Withholding repayment): Party B will deposit the full amount of repayment into the repayment account one day before the agreed repayment date. Party B hereby authorizes Party A to debit the principal, interest and charges (if any) of the loan under this contract from the repayment account.
Automatic Repayment. [X] If the box to the left is checked, the following paragraphs apply:
Automatic Repayment. To the extent that the Agent's review of the net activity in Borrower's account(s) as described in Section 2.1 (g)(ii)(A) above reveals a balance greater than $10,000 (taking into account such net activity), Agent shall automatically make a repayment of amounts outstanding under the Loan which are accruing interest at the Base Rate (an "Automatic Repayment") in an amount equal to the lesser of (a) the outstanding principal amount of the Loan accruing interest at the Base Rate, and (b) an amount equal to the difference between the balance in Borrower's account(s) and $10,000. Borrower hereby authorizes Automatic Repayments and acknowledges that there are no conditions precedent to any such Automatic Repayment.
