No Overdrafts. The Parties acknowledge that, notwithstanding that NBD may have honored overdrafts in the past, hereafter, neither NBD nor any of its affiliates will, under any circumstances, honor any checks or other items presented to NBD or such affiliates for payment for which there are insufficient available funds in Code-Alarm's accounts and NBD or such affiliates, as the case may be, may return any such items so presented.
Appears in 1 contract
Sources: Amendment and Forbearance Agreement (Code Alarm Inc)
No Overdrafts. The Parties acknowledge that, notwithstanding that NBD may have honored overdrafts in the past, hereafter, neither NBD nor any of oF its affiliates will, under any circumstances, honor any checks or other items presented to NBD or such affiliates for payment for which there are insufficient available funds in Code-Alarmany Borrower's accounts and NBD or or. such affiliates, as the case may be, may return any such items so presented.
Appears in 1 contract
Sources: Amendment and Extension Agreement (Secom General Corp)
No Overdrafts. The Parties acknowledge that, notwithstanding that NBD may have honored overdrafts in the past, hereafter, neither NBD nor any of its affiliates willare obligated, under any circumstances, to honor any checks or other items presented to NBD or such affiliates for payment for which there are insufficient available funds in Code-Alarmany Borrower's accounts and NBD or such affiliates, as the case may be, may return any such items so presented.
Appears in 1 contract