Common use of SEPA DIRECT DEBITS Clause in Contracts

SEPA DIRECT DEBITS. The borrower undertakes to maintain facility, in favor of the Lender and throughout the period of the loan, of paying by SEPA direct debit, all sums owed to the postal or bank account designated on the mandate signed by the Borrower and provided prior to the loan disbursement; the Borrower acknowledges and accepts that the first direct debit may be presented by the Lender, subject to compliance, with a minimum delay of 5 (five) working days starting from the date of signature of this document. In the event of a change in its postal or bank account, the Borrower must inform the Lender at least one month prior to the date of the next installment, and attach its new bank details to the request.

SEPA DIRECT DEBITS. The borrower BORROWER undertakes to the maintain facilityfor the LENDER, in favor of the Lender and throughout the period of the loan, the possibility of paying all sums owed by SEPA direct debit, all sums owed debit to the bank account or postal or bank account designated on the mandate signed by the Borrower and provided supplied prior to the loan disbursementdisbursement of the loan; the Borrower BORROWER acknowledges and accepts that the first direct debit may be presented by the LenderLENDER, subject to compliance, compliance with a minimum delay period of 5 (five) working days starting from the date of signature signing of this documentact. In the event of a change in its the BORROWER’s bank or postal or bank account, the Borrower it must inform the Lender LENDER of this at least one month prior to before the date of the next installmentinstalment, and attach its a new bank details statement of account information to the this request.