Common use of Debit Authorization Clause in Contracts

Debit Authorization. (a) Subject to the provisions of this Agreement, the Borrower does hereby expressly and irrevocably authorize the Agent and the Operating Lender to effect all the necessary debits, deposits and credits in the Borrower’s Accounts in order to accommodate the Lenders in making Advances, in order to accommodate the Borrower in making payments to the Lenders as required hereunder and to pay all amounts due and payable under the Loan Documents and the Cash Management Arrangements. (b) The Borrower authorizes the Operating Lender daily, or otherwise as and when determined by the Operating Lender from time-to-time, to ascertain the position or net position (as the case may be) in respect of all amounts contained in the Borrower’s Account in respect of overdraft borrowings under the Operating Facility and the Aggregate Principal Amount owing under the Operating Facility, and that: (i) if such position or net position is a credit in favour of the Borrower, the Operating Lender may apply the amount of such credit or any part thereof as a repayment of the Aggregate Principal Amount of the Operating Facility, and the Operating Lender will debit the Borrower’s Account with the amount of such repayment; and (ii) if such position or net position is a debit in favour of the Operating Lender, the Operating Lender will make an overdraft borrowing under the Operating Facility of such amount as is required to place such account in such credit or net credit position as has been agreed between the Borrower and the Operating Lender from time-to-time, and the Operating Lender may increase the Aggregate Principal Amount under the Operating Facility and credit such account with such Advance, provided that at no time shall the Aggregate Principal Amount of the Operating Facility exceed the Operating Facility Commitment Amount.

Debit Authorization. (a) Subject to the provisions of this Agreement, the Borrower does hereby expressly and irrevocably authorize the Agent and the Operating Lender to effect all the necessary debits, deposits and credits in the Borrower’s Accounts in order to accommodate the Lenders in making Advances, in order to accommodate the Borrower in making payments to the Lenders as required hereunder and to pay all amounts due and payable under the Loan Documents and the Cash Management Arrangements. (b) . In addition, the Borrower may, in the discretion of the Operating Lender, borrow, repay and re-borrow amounts under the Operating Facility at any time and from time to time as provided in this Section 5.11. The Borrower authorizes the Operating Lender daily, or otherwise as and when determined by the Operating Lender from time-to-time to time, to ascertain the position or net position (as the case may be) in respect of all amounts contained in the Borrower’s Account in respect of overdraft borrowings under the Operating Facility and the Aggregate Principal Amount owing under the Operating Facility, and that: (ia) if such position or net position is a credit in favour of the Borrower, the Operating Lender may apply the amount of such credit or any part thereof as a repayment of the Aggregate Principal Amount of the Operating Facility, and the Operating Lender will debit the Borrower’s Account with the amount of such repayment; and (iib) if such position or net position is a debit in favour of the Operating Lender, the Operating Lender will make an overdraft borrowing under the Operating Facility of such amount as is required to place such account in such credit or net credit position as has been agreed between the Borrower and the Operating Lender from time-to-time to time, and the Operating Lender may increase the Aggregate Principal Amount under the Operating Facility and credit such account with such Advance, provided that at no time shall the Aggregate Principal Amount of the Operating Facility exceed the Operating Facility Commitment Amount.

Debit Authorization. (a) Subject to the provisions of this Agreement, the Borrower does hereby expressly and irrevocably authorize the Agent and the Operating Facility Lender to effect all the necessary debits, deposits and credits in the Borrower’s Accounts Account in order to accommodate the Lenders in making Advances, in order to accommodate the Borrower in making payments to the Lenders as required hereunder and to pay all amounts due and payable under the Loan Documents and Documents, the Cash Management Arrangements. (b) Swap Documents, the Bank Product Documents, including any cash management arrangements. The Borrower authorizes the Operating Facility Lender daily, or otherwise as and when determined by the Operating Facility Lender from time-to-time to time, to ascertain the position or net position (as the case may be) in respect of all amounts contained in the Borrower’s Account in respect of overdraft borrowings under the Operating Facility and the Aggregate Principal Amount owing under the Operating Facility, and that: (ia) if such position or net position is a credit in favour of the Borrower, the Operating Facility Lender may apply the amount of such credit or any part thereof as a repayment of the Aggregate Principal Amount of the Operating FacilityAmount, and the Operating Facility Lender will debit the Borrower’s 's Account with the amount of such repayment; and (iib) if such position or net position is a debit in favour of the Operating Facility Lender, the Operating Facility Lender will make an overdraft borrowing under the Operating Facility of such amount as is required to place such account in such credit or net credit position as has been agreed between the Borrower and the Operating Lender from time-to-timeposition, and the Operating Facility Lender may increase the Aggregate Principal Amount under the Operating Facility and credit such account with such AdvanceAdvance under the Operating Facility Commitment Amount, provided that at no time shall the Aggregate Principal Amount of under the Operating Facility exceed the Operating Facility Commitment Amount.

Debit Authorization. (a) Subject to the provisions of this Agreement, the Borrower does hereby expressly and irrevocably authorize the Agent and the Operating Lender to effect all the necessary debits, deposits and credits in the Borrower’s Accounts in order to accommodate the Lenders in making Advances, in order to accommodate the Borrower in making payments to the Lenders as required hereunder and to pay all amounts due and payable under the Loan Documents and the Cash Management Arrangements. (b) The Borrower authorizes the Operating Lender daily, or otherwise as and when determined by the Operating Lender from time-to-time, to ascertain the position or net position (as the case may be) in respect of all amounts contained in the Borrower’s Account in respect of overdraft borrowings under the Operating Facility and the Aggregate Principal Amount owing under the Operating Facility, and that: (i) if such position or net position is a credit in favour of the Borrower, the Operating Lender may apply the amount of such credit or any part thereof as a repayment of the Aggregate Principal Amount of the Operating Facility, and the Operating Lender will debit the Borrower’s Account with the amount of such repayment; and (ii) if such position or net position is a debit in favour of the Operating Lender, the Operating Lender will make an overdraft borrowing under the Operating Facility of such amount as is required to place such account in such credit or net credit position as has been agreed between the Borrower 54411012.5 - 60 - and the Operating Lender from time-to-time, and the Operating Lender may 54411012.5 - 61 - increase the Aggregate Principal Amount under the Operating Facility and credit such account with such Advance, provided that at no time shall the Aggregate Principal Amount of the Operating Facility exceed the Operating Facility Commitment Amount.

Debit Authorization. (a) Subject to the provisions of this Agreement, the Borrower does hereby expressly and irrevocably authorize the Agent and the Operating Lender to effect all the necessary debits, deposits and credits in the Borrower’s Accounts in order to accommodate the Lenders in making Advances, in order to accommodate the Borrower in making payments to the Lenders as required hereunder and to pay all amounts due and payable under the Loan Documents and the Cash Management Arrangements. (b) Documents. In addition, the Borrower may, in the discretion of the Operating Lender, borrow, repay and re-borrow Accommodations under the Operating Facility at any time and from time to time as provided in this Section 5.11. The Borrower authorizes the Operating Lender daily, or otherwise as and when determined by the Operating Lender from time-to-time to time, to ascertain the position or net position (as the case may be) in respect of all amounts contained in the Borrower’s Account in respect of overdraft borrowings Accommodations under the Operating Facility and the Aggregate Principal Amount owing under the Operating Facility, and that: (ia) if such position or net position is a credit in favour of the Borrower, the Operating Lender may apply the amount of such credit or any part thereof as a repayment of the Aggregate Principal Amount of the Operating Facility, and the Operating Lender will debit the Borrower’s Account with the amount of such repayment; and (iib) if such position or net position is a debit in favour of the Operating Lender, the Operating Lender will make an overdraft borrowing Drawdown under the Operating Facility of such amount as is required to place such account in such credit or net credit position as has been agreed between the Borrower and the Operating Lender from time-to-time to time, and the Operating Lender may increase the Aggregate Principal Amount under the Operating Facility and credit such account with the proceeds of such AdvanceDrawdown, provided that at no time shall the Aggregate Principal Amount of the Operating Facility exceed the Operating Facility Commitment Amount.