Common use of Drawing Arrangement Clause in Contracts

Drawing Arrangement. (a) We undertake to periodically debit your nominated account for any amount owing under your facility. (b) We will draw the required drawing on the due date. A drawing fee as set out in the fee schedule will apply to the direct debit arrangement. If any drawing falls on a public holiday or a non business day, the drawing will be debited to your account on the prior business day. (c) We will not change the amount or frequency of the drawings without your prior approval. The period of notice should we vary the direct debit agreement will be at least 14 calendar days. (d) We reserve the right to cancel the direct debit if three or more drawings are returned unpaid by your nominated financial institutions and to arrange with you an alternate payment arrangement. (e) We will keep all information pertaining to your nominated account at the financial institution, private and confidential.

Drawing Arrangement. (a1) We undertake to periodically debit your nominated account for any amount owing under your facilityan agreement. (b2) We will draw the required drawing on the due date. A drawing fee as set out in the fee schedule Fees Schedule marked “2” will apply to the direct debit arrangement. If any drawing falls on a public holiday or a non business day, the drawing will be debited to your account on the prior business day. (c3) We will not change the amount or frequency of the drawings without your prior approval. The period of notice should we vary the direct debit agreement will be at least 14 calendar days. (d4) We reserve the right to cancel the direct debit if three or more drawings are returned unpaid by your nominated financial institutions and to arrange with you an alternate payment arrangement. (e5) We will keep all information pertaining to your nominated account at the financial institution, private and confidential.