Common use of Account Debit Clause in Contracts

Account Debit. The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Borrower’s deposit accounts maintained with the Administrative Agent for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall not be under an obligation to do so and the Administrative Agent shall not incur any liability to the Borrower or any other Person for the Administrative Agent’s failure to do so. Without limiting the generality of the foregoing, the parties hereto hereby acknowledge and agree that, to the extent operating costs relating to demand deposit accounts maintained by the Borrower or any of its Subsidiaries exceed the earnings credit associated with the available account balances in any one month, the deficiency will constitute Obligations hereunder.