Common use of Automatic Deduction Clause in Contracts

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. On each date when the payment of any principal, interest or fees are due hereunder or under any Note, Borrower agrees Borrowers agree to maintain on deposit in an ordinary checking account maintained by Borrower Borrowers with Administrative Agent (as such account shall be designated by Borrower Borrowers in a written notice to Administrative Agent from time to time, the “Borrower Borrowers Account”) an amount sufficient to pay such principal, interest or fees in full. Borrower Borrowers hereby authorizes authorize Administrative Agent (i) to deduct automatically all interest or fees when due hereunder or under the Notes from Borrower 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 Borrower Borrowers maintained with Administrative Agent. Administrative Agent agrees to provide timely notice to Borrower Borrowers of any automatic deduction made pursuant to this Section 2.122.13.

Automatic Deduction. On each date when the payment of any principal, interest or fees are due hereunder or under any Term Note, Borrower agrees Borrowers agree to maintain on deposit in an ordinary checking account maintained by Borrower Borrowers with Administrative Agent (as such account shall be designated by Borrower Borrowers in a written notice to Administrative Agent from time to time, the “Borrower Borrowers Account”) an amount sufficient to pay such principal, interest or fees in full. Borrower Borrowers hereby authorizes authorize Administrative Agent (i) to deduct automatically all interest or fees when due hereunder or under the Term Notes from Borrower the Borrowers Account, and (ii) if and to the extent any payment of principal 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 Borrowers maintains with Administrative Agent. Administrative Agent agrees to provide timely notice to Borrower Borrowers of any automatic deduction made pursuant to this Section 2.122.11.