Common use of Direct Debit Clause in Contracts

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 owned by the Borrower, or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 2 contracts

Samples: Loan Agreement (Lifeloc Technologies, Inc), Loan Agreement (Lifeloc Technologies, Inc)

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Direct Debit. (a) The Each Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 000010067279 owned by the any Borrower, or such other of the Borrower's Borrowers’ accounts with the Bank as designated in writing by the Borrower Borrowers (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the BorrowerBorrowers.

Appears in 1 contract

Samples: Loan Agreement (Hooker Furniture Corp)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 NJ-004044013471 owned by the Borrower, or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Tel Instrument Electronics Corp

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 XXXXXXXXXXXX owned by the BorrowerHoldings, or such other of the Borrower's ’s accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Loan Agreement (HireQuest, Inc.)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 3473768853 owned by the Borrower, or such other of the Borrower's ’s accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Nic Inc)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 NY-400000000000 owned by the Borrower, Borrower or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Mechanical Technology Inc)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 CA 325077106052 owned by the Borrower, or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Loan Agreement (R F Industries LTD)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 4000000000 101 owned by the Borrower, or such other of the Borrower's ’s accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Lakeland Industries Inc)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from a deposit account number CO 457023873333 owned by to be agreed between the BorrowerBorrower and Bank, or such other of the Borrower's ’s accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Versar Inc)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank Lender will debit the amount due from deposit account number CO 457023873333 number____________ owned by the Borrower, or such other of the Borrower's ’s accounts with the Bank Lender as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Stryve Foods, Inc.)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 FL-898025791616 owned by the BorrowerNEW SOUTHERN FOOD DISTRIBUTORS, INC., or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Loan Agreement (HF Foods Group Inc.)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 owned by the Borrower, or such other of the Borrower's accounts NY-483043595490 with the Bank as designated in writing owned by the Borrower Mechanical Technology, Incorporated and MTllnstruments, Inc. (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Mechanical Technology Inc

Direct Debit. (a) The Borrower agrees that that, upon request from the Bank or at the option of the Borrower after any time following the transfer of the Borrower’s depository accounts to the Bank, on the due date of any amount due under this Agreement, the Bank will debit the amount due from a deposit account number CO 457023873333 owned by the Borrower, or such other of the Borrower's accounts Borrower maintained with the Bank as that is designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Advanced Energy Industries Inc)

Direct Debit. (ai) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank Lender will debit the amount due from deposit account number CO 457023873333 435029053069 owned by the Borrower, or such other of the Borrower's ’s accounts with the Bank Lender as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the BorrowerBorrower in accordance with the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Bowman Consulting Group Ltd.)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 3132020158 owned by the BorrowerMiddlesex Water Company, or such other of the Borrower's ’s accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Uncommitted Loan Agreement (Middlesex Water Co)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 0000000000 owned by the Borrower, or such other of the Borrower's ’s accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.. 6.5

Appears in 1 contract

Samples: Credit Agreement Between Tejon Ranchcorp (Tejon Ranch Co)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from the Borrower’s deposit account number CO 457023873333 owned by the Borrower, or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.. 4.5

Appears in 1 contract

Samples: Active 696074304v9 Loan Agreement (Lifevantage Corp)

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Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 ______________ owned by the Borrower, or such other of the Borrower's ’s accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Thorne Healthtech, Inc.)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 ________________________ owned by the Borrower, Borrower or such other of the Borrower's ’s accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Energy Resources 12, L.P.)

Direct Debit. (ai) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank Lender will debit the amount due from deposit account number CO 457023873333 xxxxxxxxxxxx owned by the Borrower, or such other of the Borrower's ’s accounts with the Bank Lender as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the BorrowerBorrower in accordance with the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Nortech Systems Inc)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 owned by the Borrower, ,or such other of the Borrower's ’s accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Bowman Consulting Group Ltd.)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 NY - 000004913434 owned by the Borrower, Borrower or such other of the Borrower's ’s accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Servotronics Inc /De/)

Direct Debit. (a) a. The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 MD-004465770861 owned by the BorrowerCuriosityStream, Inc., or such other of the Borrower's ’s accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Software Acquisition Group Inc.)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 owned by the Borrower, or such other of the Borrower's ’s accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Graham Corp)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from the Borrower’s deposit account number CO 457023873333 owned by the Borrower, or such other of the Borrower's accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Natures Sunshine Products Inc)

Direct Debit. (a) The Each Borrower agrees that on the due date of any amount due under this Agreement, the Bank will debit the amount due from deposit account number CO 457023873333 [_____________] owned by the any Borrower, or such other of the Borrower's Borrowers’ accounts with the Bank as designated in writing by the Borrower Borrowers (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the BorrowerBorrowers.

Appears in 1 contract

Samples: Loan Agreement (Hooker Furniture Corp)

Direct Debit. (a) The Borrower agrees that on the due date of any amount due under this Agreement, the Bank Lender will debit the amount due from deposit account number CO 457023873333 owned by the Borrower, or such other of the Borrower's ’s accounts with the Bank Lender as designated in writing by the Borrower (the "Designated Account"). Should there be insufficient funds in the Designated Account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Stryve Foods, Inc.)

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