Common use of Direct Debit Clause in Contracts

Direct Debit. (a) Borrower agrees that interest and principal payments and fees will be deducted automatically on the due date from Borrower's account number 1458126057, or such other of Borrower's accounts with Bank as designated in writing by Borrower. (b) Bank will debit the account on the dates the payments become due. If a due date does not fall on a banking day, Bank will debit the account on the first banking day following the due date. (c) Borrower will maintain sufficient funds in the account on the dates Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date Bank enters any debit authorized by this Agreement, the debit will be reversed.

Appears in 3 contracts

Sources: Business Loan Agreement (Hawker Pacific Aerospace), Business Loan Agreement (Hawker Pacific Aerospace), Business Loan Agreement (Hawker Pacific Aerospace)

Direct Debit. (a) Borrower agrees that interest and interest, principal payments and any fees will be deducted automatically on the due date from Borrower's checking account number 1458126057, or such other of Borrower's accounts with Bank as designated in writing by Borrower▇▇▇-▇▇▇▇▇▇-▇▇. (b) Bank will debit the Borrower's account on the dates the payments become due. If a due date does not fall on a banking day, Bank will debit the account on the first banking day Banking Day following the due date. (c) Borrower will maintain sufficient funds in the account on the dates Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date Bank enters any debit authorized by this Agreement, the debit will be reversedAgreement Borrower shall immediately pay such shortfall to Bank.

Appears in 2 contracts

Sources: Commercial Loan Agreement (Novellus Systems Inc), Commercial Loan Agreement (Novellus Systems Inc)

Direct Debit. (a) The Borrower agrees that interest and principal payments and any fees will be deducted automatically on the due date from Borrower's checking account number 145812605714969-01000, or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower. (b) The Bank will debit the account on the dates the payments become due. If a due date does not fall on a banking day, the Bank will debit the account on the first banking day following the due date. (c) The Borrower will maintain sufficient funds in the account on the dates the Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date the Bank enters any debit authorized by this Agreement, the debit will be reversed.

Appears in 2 contracts

Sources: Business Loan Agreement (Remedytemp Inc), Business Loan Agreement (Remedytemp Inc)

Direct Debit. (a) Borrower agrees that interest and principal payments and any fees will be deducted automatically on the due date from Borrower's account number 14581260574271▇▇▇▇▇▇, or ▇▇ such other of Borrower's accounts with Bank as designated in writing by BorrowerBorrower (the "Designated Account"). (b) Bank will debit the account Designated Account on the dates the payments become due. If a due date does not fall on a banking dayBanking Day, as defined below, Bank will debit the account Designated Account on the first banking day Banking Day following the due date. (c) Borrower will maintain sufficient funds in the account Designated Account on the dates Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date Bank enters any debit authorized by this Agreement, the debit will be reversed.

Appears in 1 contract

Sources: Business Loan Agreement (Mobility Electronics Inc)

Direct Debit. (a) The Borrower agrees that interest and principal payments and any fees will be deducted automatically on the due date from Borrower's checking account number 145812605714617-01999, or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower. (b) The Bank will debit the account on the dates the payments become due. If a due date does not fall on a banking day, the Bank will debit the account on the first banking day following the due date. (c) The Borrower will maintain sufficient funds in the account on the dates the Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date the Bank enters any debit authorized by this Agreement, the debit will be reversed.

Appears in 1 contract

Sources: Business Loan Agreement (99 Cents Only Store)

Direct Debit. (a) The Borrower agrees that interest and principal payments and any fees will be deducted automatically on the due date from the Borrower's account number 145812605714505-50312, or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower. (b) The Bank will debit the account on the dates the payments become due. If a due date does not fall on a banking day, the Bank will debit the account on the first banking day following the due date. (c) The Borrower will maintain sufficient funds in the account on the dates the Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date the Bank enters any debit authorized by this Agreement, the debit will be reversed.

Appears in 1 contract

Sources: Business Loan Agreement (Cohu Inc)

Direct Debit. (a) The Borrower agrees that interest and principal payments and any fees will be deducted automatically on the due date from the Borrower's account number 145812605714934-03755, or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower. (b) The Bank will debit the account on the dates the payments become due. If a due date does not fall on a banking day, the Bank will debit the account on the first banking day following the due date. (c) The Borrower will maintain sufficient funds in the account on the dates the Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date the Bank enters any debit authorized by this Agreement, the debit will be reversed.

Appears in 1 contract

Sources: Business Loan Agreement (Tab Products Co)

Direct Debit. (a) The Borrower agrees that interest and principal payments and any fees will be deducted automatically on the due date from the Borrower's checking account number 145812605712233227795, or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower. (b) The Bank will debit the account on the dates the payments become due. If a due date does not fall on a banking dayBanking Day, the Bank will debit the account on the first banking day Banking Day following the due date. (c) The Borrower will maintain sufficient funds in the account on the dates the Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date the Bank enters any debit authorized by this Agreement, the debit will be reversed.

Appears in 1 contract

Sources: Business Loan Agreement (Regis Corp)

Direct Debit. (a) Borrower agrees The Borrowers agree that interest and principal payments and any fees will be deducted automatically on the due date from BorrowerBorrower 1's account number 1458126057054-8l0607, or such other of Borrower's the Borrowers' accounts with the Bank as designated in In writing by Borrowerthe Borrowers (the "Designated Account"). (b) The Bank will debit the account on the dates the payments become due. If a due date does not fall tall on a banking day, the Bank will debit the account on the first banking day following the due date. (c) Borrower The Borrowers will maintain sufficient funds in the account on the dates the Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date the Bank enters any debit authorized by this Agreement, the debit will be reversed.

Appears in 1 contract

Sources: Business Loan Agreement (Jda Software Group Inc)

Direct Debit. (a) The Borrower agrees that interest and principal payments and any fees will be deducted automatically on the due date from the Borrower's account number 145812605714725-01700, or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower. (b) The Bank will debit the account on the dates the payments become due. If a due date does not fall on a banking day, the Bank will debit the account on the first banking day following the due date. (c) The Borrower will maintain sufficient funds in the account on the dates the Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date the Bank enters any debit authorized by this Agreement, the debit will be reversed.

Appears in 1 contract

Sources: Business Loan Agreement (Longs Drug Stores Corp)

Direct Debit. (a) The Borrower agrees that interest and principal payments and any fees will be deducted automatically on the due date from Borrower's checking account number 1458126057_________________, or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower. (b) The Bank will debit the account on the dates the payments become due. If a due date does not fall on a banking day, the Bank will debit the account on the first banking day following the due date. (c) The Borrower will maintain sufficient funds in the account on the dates the Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date the Bank enters any debit authorized by this Agreement, the debit will be reversed.

Appears in 1 contract

Sources: Business Loan Agreement (Grease Monkey Holding Corp)

Direct Debit. (a) Borrower agrees The Borrowers agree that interest and principal payments and any fees will be deducted automatically on the due date from Borrower's Borrower `s account number 145812605714878-03863, or such other of Borrower's the Borrowers' accounts with the Bank as designated in writing by Borrowerthe Borrowers. (b) The Bank will debit the account on the dates the payments become due. If a due date does not fall on a banking day, the Bank will debit the account on the first banking day following the due date. (c) Borrower The Borrowers will maintain sufficient funds in the account on the dates the Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date the Bank enters any debit authorized by this Agreement, the debit will be reversed.

Appears in 1 contract

Sources: Business Loan Agreement (California Water Service Group)

Direct Debit. (a) The Borrower agrees that interest and principal payments and any fees will be deducted automatically on the due date from the Borrower's checking account number 145812605786667-12596, or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower. (b) The Bank will debit the account on the dates the payments become due. If a due date does not fall on a banking dayBanking Day, the Bank will debit the account on the first banking day Banking Day following the due date. (c) The Borrower will maintain sufficient funds in the account on the dates the Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date the Bank enters any debit authorized by this Agreement, the debit will be reversed.

Appears in 1 contract

Sources: Business Loan Agreement (Eloyalty Corp)

Direct Debit. (a) The Borrower agrees that interest and principal payments and any fees will be deducted automatically on the due date from Borrower's checking account number 145812605709326-00675, or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower. (b) The Bank will debit the account on the dates the payments become due. If a due date does not fall on a banking day, the Bank will debit the account on the first banking day following the due date. (c) The Borrower will maintain sufficient funds in the account on the dates the Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date the Bank enters any debit authorized by this Agreement, the debit will be reversed.

Appears in 1 contract

Sources: Business Loan Agreement (Powerwave Technologies Inc)

Direct Debit. (a) The Borrower agrees that interest and principal payments and any fees will be deducted automatically on the due date from the Borrower's checking account number 1458126057, or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower. (b) The Bank will debit the account on the dates the payments become due. If a due date does not fall on a banking dayBanking Day, the Bank will debit the account on the first banking day Banking Day following the due date. (c) The Borrower will maintain sufficient funds in the account on the dates the Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date the Bank enters any debit authorized by this Agreement, the debit will be reversed.

Appears in 1 contract

Sources: Business Loan Agreement (Eloyalty Corp)

Direct Debit. (a) The Borrower agrees that interest and principal payments and any fees will be deducted automatically on the due date from Borrower's checking account number 1458126057, or such other of Borrower's accounts with Bank as designated in writing by Borrower14576-50027. (b) The Bank will debit the account on the dates the payments become due. If a due date does not fall on a banking day, the Bank will debit the account on the first banking day following the due date. (c) The Borrower will maintain sufficient funds in the account on the dates the Bank enters debits authorized by this Agreement. If there are insufficient funds in the account on the date the Bank enters any debit authorized by this Agreement, the debit debt will be reversed.

Appears in 1 contract

Sources: Business Loan Agreement (Farr Co)