Automatic Deduction. (a) Throughout the term of the Loan, Borrower shall maintain the Checking Account in good standing with Lender. Borrower hereby grants to Lender a security interest in the Checking Account, and any other accounts and deposit accounts from which Borrower may from time to time authorize Lender to debit payments due on the Loan, for the purpose of securing the Obligations.
Automatic Deduction. On each date when the payment of any principal, interest or fees are due hereunder or under any Note, Borrower agrees to maintain on deposit in an ordinary checking account maintained by Borrower with Administrative Agent (as such account shall be designated by Borrower in a written notice to Administrative Agent from time to time, the “Borrower Account”) an amount sufficient to pay such principal, interest or fees in full. Borrower hereby authorizes Administrative Agent (i) to deduct automatically all interest or fees when due hereunder or under the Notes from Borrower Account, and (ii) if and to the extent any payment under this Agreement or any other Loan Document is not made when due, to deduct automatically any such amount from any or all of the accounts of Borrower maintained with Administrative Agent. Administrative Agent agrees to provide timely notice to Borrower of any automatic deduction made pursuant to this Section 2.12.
Automatic Deduction. (a) Throughout the term of the Loan, Opportunity OP shall maintain a Checking Account in good standing with Lender, in addition to each Borrower that owns an Eligible Property which is part of the Collateral Pool who shall maintain a Checking Account with respect to its Eligible Property as such Eligible Property’s operating account. Each Borrower hereby grants to Lender a security interest in the Checking Account, and any other accounts and deposit accounts from which such Borrower may from time to time authorize Lender to debit payments due on the Loan, for the purpose of securing the Obligations.
Automatic Deduction. Borrower agrees that monthly payments on the Note will be deducted automatically on the due date from checking account number [checking account number] maintained by Borrower at the Bank (the "Checking Account"). Bank will debit the Checking Account on the dates the payments become due. If a due date does not fall on a banking day, Bank will debit the Checking Account on the first banking day following the due date. Borrower will maintain the Checking Account in good standing with Bank throughout the term of the Loan, and maintain sufficient funds in the Checking Account on the dates Bank enters debits authorized by this Agreement. If there are insufficient funds in the Checking Account on the date Bank enters any debit authorized by this Agreement, without limiting Bank's other remedies in such an event, the debit will be reversed.
Automatic Deduction. Fair share fee deductions shall be automatic and not require the written authorization of the employee.
Automatic Deduction. You agree that each payment of fees, out-of-pocket expenses incurred by the Bank to activate your Business Line of Credit, late charges, interest, and principal owing pursuant to this Agreement shall be made by automatic deduction from your Account. Alternatively, fees and/or out-of-pocket expenses may be charged to your Business Line of Credit. If you make a payment using a check, or any method other than automatic deduction from your Account, and the payment is sufficient to cover your next minimum payment due, and (1) your account is a Term Loan, the automatic deduction will not occur; or (2) your Account is a Line, the automatic deduction from your Account for that payment will occur. If your Account is closed for any reason, or if there are insufficient funds in the Account to pay the sum due, the Bank may terminate payments by automatic deduction and increase the interest rate on your Business Line of Credit by one (1) percentage points. You agree that the Bank may also charge any other deposit account held in the same legal ownership to recover any sums owing. Automatic deduction from account number 0670043053 Account Name BIOMERICA, INC.
Automatic Deduction. On each date when the payment of any principal, interest or fees are due hereunder, Borrowers agree to maintain on deposit in an ordinary checking account maintained by Borrowers with the Lender (as such account shall be designated by Borrowers in a written notice to the Lender from time to time, the ‘Borrowers Account’) an amount sufficient to pay such principal, interest or fees in full. Borrowers hereby authorize the Lender (i) to deduct automatically all interest or fees when due hereunder from the Borrowers Account, and (ii) if and to the extent any payment under this Agreement or any other Loan Document is not made when due, to deduct automatically any such amount from any or all of the accounts of Borrowers maintained with the Lender. The Lender agrees to provide timely notice to Borrowers of any automatic deduction made pursuant to this Section 2.12 of the Syndicated Agreement.”
Automatic Deduction. 36 2.14 Increase in Commitments..............................................37 Section 3 TAXES, YIELD PROTECTION AND ILLEGALITY...............................37 3.1 Taxes................................................................37
Automatic Deduction. On each date when the payment of any principal, interest or fees are due hereunder or under any Note, Borrowers agree to maintain on deposit in an ordinary checking account maintained by Borrowers with Administrative Agent (as such account shall be designated by Borrowers in a written notice to Administrative Agent from time to time, the "BORROWERS ACCOUNT") an amount sufficient to pay such principal, interest or fees in full. Borrowers hereby authorize Administrative Agent (i) to deduct automatically all interest or fees when due hereunder or under the Notes from the Borrowers Account, and (ii) if and to the extent any payment under this Agreement or any other Loan Document is not made when due, to deduct automatically any such amount from any or all of the accounts of Borrowers maintained with Administrative Agent. Administrative Agent agrees to provide timely notice to Borrowers of any automatic deduction made pursuant to this Section 2.13.
Automatic Deduction. (a) Borrower agrees that payments on the Note will be deducted automatically on the due date from checking account number 14999-01347 (the "Checking Account").
