Common use of Charging of accounts Clause in Contracts

Charging of accounts. If and to the extent any payment owed to the Agent or any Lender is not made within three Business Days after the date it was due hereunder or under the Note held by such Lender, the Borrower hereby authorizes the Agent and such Lender to setoff and charge any amount so due against any deposit account maintained by the Borrower with the Agent or such Lender, whether or not the deposit therein is then due.

Charging of accounts. If and to the extent any payment owed to the Agent or any Lender is not made within three Business Days after the date it was due hereunder or under the Note held by such Lender, the Borrower each Loan Party hereby authorizes the Agent and such Lender Lender, subject to any notice period provided in the Orders, to setoff and charge any amount so due against any deposit account maintained by the Borrower such Loan Party with the Agent or such Lender, whether or not the deposit therein is then due.