Common use of Automatic Debits of Fees Clause in Contracts

Automatic Debits of Fees. With respect to any commitment fee, ------------------------ utilization fee, arrangement fee, or other fee, or any other cost or expense (including Attorney Costs) due and payable to the Agent or the Arranger under the Loan Documents, the Company hereby irrevocably authorizes the Agent to debit any deposit account of the Company with the Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the Agent's sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section shall be deemed a set-off.

Appears in 1 contract

Sources: Bridge Loan Agreement (Mentor Graphics Corp)

Automatic Debits of Fees. With respect to any commitment fee, ------------------------ utilization fee, arrangement fee, fee or other fee, or any other cost or expense (including Attorney Costs) due and payable to the Administrative Agent or the Arranger under the Loan Documents, the Company hereby irrevocably authorizes the Agent Administrative Agent, after giving reasonable prior notice to the Company, to debit any deposit account of the Company with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the Administrative Agent's ’s sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 11.11 shall be deemed a set-off.

Appears in 1 contract

Sources: Second Lien Term Loan Agreement (Venoco, Inc.)

Automatic Debits of Fees. With respect to any commitment fee, ------------------------ utilization fee, arrangement fee, or other fee, fee or any other cost or expense (including Attorney Costs) due and payable to the Administrative Agent or the Arranger under the Loan Documents, the Company hereby irrevocably authorizes the Agent Administrative Agent, after giving reasonable prior notice to the Company, to debit any deposit account of the Company with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the Administrative Agent's sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 11.11 shall be deemed a set-off.

Appears in 1 contract

Sources: Term Loan Agreement (Venoco, Inc.)

Automatic Debits of Fees. With respect to any commitment fee, ------------------------ utilization fee, arrangement fee, or other fee, fee or any other cost or expense (including Attorney Costs) due and payable to the Administrative Agent or the Arranger under the Loan Documents, the Company Borrower hereby irrevocably authorizes the Agent Administrative Agent, after giving reasonable prior notice to the Borrower, to debit any deposit account of the Company Borrower with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the Administrative Agent's ’s sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 11.11 shall be deemed a set-off.

Appears in 1 contract

Sources: Term Loan Agreement (Venoco, Inc.)

Automatic Debits of Fees. With respect to any commitment fee, ------------------------ utilization fee, arrangement fee, or other fee, or any other cost or expense (including Attorney Costs) due and payable to the Administrative Agent or the Arranger under the Loan Documents, the Company hereby irrevocably authorizes the Agent Administrative Agent, after giving reasonable prior notice to the Company, to debit any deposit account of the Company with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the Administrative Agent's ’s sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 11.11 shall be deemed a set-off.

Appears in 1 contract

Sources: Term Loan Agreement (Exploration Co of Delaware Inc)

Automatic Debits of Fees. With respect to any commitment fee, ------------------------ utilization fee, arrangement fee, or other fee, or any other cost or expense (including Attorney Costs) due and payable to the Administrative Agent or the Arranger under the Loan Documents, the Company hereby irrevocably authorizes the Agent Administrative Agent, after giving reasonable prior notice to the Company, to debit any deposit account of the Company with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the Administrative Agent's sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 11.11 shall be deemed a set-off.

Appears in 1 contract

Sources: Term Loan Agreement (TXCO Resources Inc)

Automatic Debits of Fees. With respect to any commitment fee, ------------------------ utilization fee, arrangement fee, ------------------------- agency fee, Letter of Credit fee or other fee, or any other cost or expense (including Attorney Costsattorney costs) due and payable by Borrower to the Agent or the Arranger Issuing Bank under the Loan Documents, the Company Borrower hereby irrevocably authorizes the Agent to debit any deposit account of the Company such Borrower with the Agent LNB in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the this amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the AgentLNB's sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 11.20 shall be deemed a set-off.

Appears in 1 contract

Sources: Loan and Security Agreement (Gsi Group Inc)

Automatic Debits of Fees. With respect to any commitment fee, ------------------------ utilization fee, arrangement fee, agency fee, Letter of Credit fee or other fee, or any other cost or expense (including Attorney Costsattorney costs) due and payable by Borrower to the Agent or the Arranger Issuing Bank under the Loan Documents, the Company Borrower hereby irrevocably authorizes the Agent to debit any deposit account of the Company such Borrower with the Agent LBNA in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the this amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the AgentLBNA's sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 11.20 shall be deemed a set-off.

Appears in 1 contract

Sources: Loan and Security Agreement (Gsi Group Inc)

Automatic Debits of Fees. With respect to any commitment fee, ------------------------ utilization fee, arrangement fee, or other fee, fee or any other cost or expense (including Attorney Costs) due and payable to the Administrative Agent or the Arranger under the Loan Documents, the Company Borrower hereby irrevocably authorizes the Agent Administrative Agent, after giving reasonable prior notice to the Borrower, to debit any deposit account of the Company Borrower with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the Administrative Agent's sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 11.11 shall be deemed a set-off.

Appears in 1 contract

Sources: Term Loan Agreement (Venoco, Inc.)

Automatic Debits of Fees. With respect to any commitment fee, ------------------------ utilization fee, arrangement fee, or other fee, or any other cost or expense (including Attorney Costs) due and payable to the Agent Lender or the Arranger any of its Affiliates under the Loan Documents, the Company Borrowers hereby irrevocably authorizes authorize the Agent Lender and its Affiliates to debit any deposit account of the Company any Borrower with the Agent Lender or any of its Affiliates in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount of the fee or other cost or expense then due, such debits will be reversed (in whole or in part, in the Agent's Lender’s sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 9.11 shall be deemed a set-off.

Appears in 1 contract

Sources: Credit Agreement (Gymboree Corp)