Common use of Direct Debit Clause in Contracts

Direct Debit. (a) The Borrower agrees that on the Due Date the Bank will debit the Billed Amount from deposit account number IL-5800322850 owned by eLoyalty Corporation or such other of the Borrower’s accounts with the Bank as designated in writing by the Borrower (the “Designated Account”). (b) The Borrower may terminate this direct debit arrangement at any time by sending written notice to the Bank at the address specified at the end of this Agreement. If the Borrower terminates this arrangement, then the principal amount outstanding under this Agreement will at the option of the Bank bear interest at a rate per annum which is .50 percentage point(s) higher than the rate of interest otherwise provided under this Agreement.

Appears in 1 contract

Sources: Loan Agreement (Eloyalty Corp)

Direct Debit. (a) The Borrower agrees that on the Due Date the Bank will debit the Billed Amount from deposit account number IL-5800322850 MA-009419954701 owned by eLoyalty Corporation the Borrower or such other of the Borrower’s accounts with the Bank as designated in writing by the Borrower (the “Designated Account”). (b) The Borrower may terminate this direct debit arrangement at any time by sending written notice to the Bank at the address specified at the end of this Agreement. If the Borrower terminates this arrangement, then the principal amount outstanding under this Agreement will at the option of the Bank bear interest at a rate per annum which is .50 1.0 percentage point(s) higher than the rate of interest otherwise provided under this Agreement.

Appears in 1 contract

Sources: Loan Agreement (Technical Communications Corp)

Direct Debit. (a) The Borrower agrees that on the Due Date the Bank will debit the Billed Amount from deposit account number IL-5800322850 OR-002801902675 owned by eLoyalty Corporation the Borrower or such other of the Borrower’s accounts with the Bank as designated in writing by the Borrower (the “Designated Account”). (b) The Borrower may terminate this direct debit arrangement at any time by sending written notice to the Bank at the address specified at the end of this Agreement. If the Borrower terminates this arrangement, then the principal amount outstanding under this Agreement will at the option of the Bank bear interest at a rate per annum which is .50 0.5 percentage point(s) higher than the rate of interest otherwise provided under this Agreement.

Appears in 1 contract

Sources: Loan Agreement (Schmitt Industries Inc)

Direct Debit. (a) The Borrower agrees Borrowers agree that on the Due Date the Bank will debit the Billed Amount from deposit account number IL-5800322850 CA-12330-24344 owned by eLoyalty Corporation the Borrowers or such other of the Borrower’s Borrowers’ accounts with the Bank as designated in writing by the Borrower Borrowers (the “Designated Account”). (b) The Borrower Borrowers may terminate this direct debit arrangement at any time by sending written notice to the Bank at the address specified at the end of this Agreement. If the Borrower terminates Borrowers terminate this arrangement, then the principal amount outstanding under this Agreement will at the option of the Bank bear interest at a rate per annum which is .50 0.5 percentage point(s) higher than the rate of interest otherwise provided under this Agreement.

Appears in 1 contract

Sources: Loan Agreement (Resources Connection Inc)

Direct Debit. (a) The Borrower agrees that on the Due Date the Bank will debit the Billed Amount from deposit account number IL-5800322850 CA-14993-14357 owned by eLoyalty Corporation the Borrower, or such other of the Borrower’s 's accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). (b) The Borrower may terminate this direct debit arrangement at any time by sending written notice to the Bank at the address specified at the end of this Agreement. If the Borrower terminates this arrangement, then the principal amount outstanding under this Agreement will at the option of the Bank bear interest at a rate per annum which is .50 0.5 percentage point(s) point higher than the rate of interest otherwise provided under this Agreement.

Appears in 1 contract

Sources: Loan Agreement (American Shared Hospital Services)

Direct Debit. (a) The Borrower agrees that on the Due Date the Bank will debit the Billed Amount from deposit account number IL-5800322850 ______________________ owned by eLoyalty Corporation Apple REIT Ten, Inc. or such other of the Borrower’s accounts with the Bank as designated in writing by the Borrower (the “Designated Account”). (b) The Borrower may terminate this direct debit arrangement at any time by sending written notice to the Bank at the address specified at the end of this Agreement. If the Borrower terminates this arrangement, then the principal amount outstanding under this Agreement will at the option of the Bank bear interest at a rate per annum which is .50 0.5 percentage point(s) higher than the rate of interest otherwise provided under this Agreement.

Appears in 1 contract

Sources: Loan Agreement (Apple REIT Ten, Inc.)

Direct Debit. (a) The Borrower agrees that on the Due Date the Bank will debit the Billed Amount from deposit account number IL-5800322850 OR-002801902675 owned by eLoyalty Corporation the Borrower, or such other of the Borrower’s accounts with the Bank as designated in writing by the Borrower (the “Designated Account”). (b) The Borrower may terminate this direct debit arrangement at any time by sending written notice to the Bank at the address specified at the end of this Agreement. If the Borrower terminates this arrangement, then the principal amount outstanding under this Agreement will at the option of the Bank bear interest at a rate per annum which is .50 0.5 percentage point(s) higher than the rate of interest otherwise provided under this Agreement.

Appears in 1 contract

Sources: Loan Agreement (Schmitt Industries Inc)

Direct Debit. (a) The Borrower agrees that on the Due Date the Bank will debit the Billed Amount from deposit account number IL-5800322850 owned by eLoyalty Corporation Insys Therapeutics, Inc. or such other of the Borrower’s accounts with the Bank as designated in writing by the Borrower (the “Designated Account”). (b) The Borrower may terminate this direct debit arrangement at any time by sending written notice to the Bank at the address specified at the end of this Agreement. If the Borrower terminates this arrangement, then the principal amount outstanding under this Agreement will at the option of the Bank bear interest at a rate per annum which is .50 0.5 percentage point(s) higher than the rate of interest otherwise provided under this Agreement.

Appears in 1 contract

Sources: Loan Agreement (Insys Therapeutics, Inc.)

Direct Debit. (a) The Borrower agrees that on the Due Date the Bank will debit the Billed Amount from deposit account number IL-5800322850 PA-004678015588 owned by eLoyalty Corporation Saker Aviation Services, Inc. or such other of the Borrower’s 's accounts with the Bank as designated in writing by the Borrower (the "Designated Account"). (b) The Borrower may terminate this direct debit arrangement at any time by sending written notice to the Bank at the address specified at the end of this Agreement. If the Borrower terminates this arrangement, then the principal amount outstanding under this Agreement will at the option of the Bank bear interest at a rate per annum which is .50 1.0 percentage point(s) higher than the rate of interest otherwise provided under this Agreement.

Appears in 1 contract

Sources: Loan Agreement (Saker Aviation Services, Inc.)

Direct Debit. (a) The Borrower agrees that on the Due Date the Bank will debit the Billed Amount from deposit account number IL-5800322850 TX-488032919202 owned by eLoyalty Corporation Vertex Energy, Inc. or such other of the Borrower’s 's accounts with the Bank as designated in writing by the Borrower (the "Designated Account")., (b) The Borrower may terminate this direct debit arrangement at any time by sending written notice to the Bank at the address specified at the end of this Agreement. If , if the Borrower terminates this arrangement, then the principal amount outstanding under this Agreement will at the option of the Bank bear interest at a rate per annum which is .50 0.5 percentage point(s) higher than the rate of interest otherwise provided under this Agreement.

Appears in 1 contract

Sources: Loan Agreement (Vertex Energy Inc.)