Common use of Automatic Debits Clause in Contracts

Automatic Debits. With respect to any principal, interest, fee, or any other cost or expense (including attorney costs of Administrative Agent or any Lender payable by Borrower hereunder) due and payable to Administrative Agent or any Lender under the Loan Documents, Borrower hereby irrevocably authorizes the Administrative Agent to debit any deposit account of Borrower maintained with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such principal, interest, fee or other cost or expense. The Administrative Agent shall endeavor to provide Borrower with notice of such debits promptly after the occurrence of such debits, but the Administrative Agent shall have no duty to do so or incur any liability for failing to do so. If there are insufficient funds in such deposit accounts to cover the amount 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 10.18 shall be deemed a set-off and no such debit shall be deemed a waiver of any Loan Party's right to dispute the amount of such debit or to request additional detail with respect to such debit.

Automatic Debits. With respect to any principal, interest, fee, or any other cost or expense (including attorney costs of Administrative Agent or any Lender payable by Borrower hereunder) due and payable to Administrative Agent or any Lender under the Loan Documents, Borrower hereby irrevocably authorizes the Administrative Agent to debit any deposit account of Borrower maintained with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such principal, interest, fee or other cost or expense. The Administrative Agent shall endeavor to provide Borrower with notice of such debits promptly after the occurrence of such debits, but the Administrative Agent shall have no duty to do so or incur any liability for failing to do so. If there are insufficient funds in such deposit accounts to cover the amount 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 10.18 shall be deemed a set-off and no ​ ​ such debit shall be deemed a waiver of any Loan Party's ’s right to dispute the amount of such debit or to request additional detail with respect to such debit.. ​