Common use of Debit Balance Clause in Contracts

Debit Balance. 1. You agree to pay your Debit Balance owed to the Company or an Affiliate when due. a. The determination of the amount of any liabilities or advances due and/or owed in connection with a Debit Balance shall be at the sole discretion of the Company. Such Debit Balances(s) due from you shall be debited on the books of the Company with the amount of such obligation, when the same is due and unpaid from you to the Company, and on demand, you shall promptly pay the Company the amount of such Debit Balance. b. Any such Debit Balance, together with interest thereon at the applicable current rate per month or the maximum legal rate, whichever is less, owed by you to the Company or an Affiliate may be set off by the Company, at any time, against any sums due from the Company or an Affiliate to you, and a first lien is hereby reserved to the Company thereon for the satisfaction of any such Debit Balance.

Debit Balance. 1. You agree to pay your Debit Balance owed to the Company or an Affiliate when due. a. The determination of the amount of any liabilities or advances due and/or owed in connection with a Debit Balance shall be at the sole discretion of the Company. Such Debit Balances(s) due from you shall be debited on the books of the Company with the amount of such obligation, when the same is due and unpaid from you to the Company, and on demand, you shall promptly pay the that Company the amount of such Debit Balance. b. Any such Debit Balance, together with interest thereon at the applicable current rate per month or the maximum legal rate, whichever is less, owed by you to the Company or an Affiliate may be set off ▇▇▇ by the Company, at any time, against any sums due from the Company or an Affiliate to you, and a first lien is hereby reserved to the Company thereon for the satisfaction of any such Debit Balance.