Common use of Your Accounts Clause in Contracts

Your Accounts. a. You agree to maintain one or more deposit Accounts (collectively, the “Account”) with The Cecilian Bank and will deposit sufficient funds in the Account to facilitate the transactions set forth by this Agreement. The Account will be subject to this Agreement and Bank’s then current “Deposit Account Agreement and Disclosure”. b. To the extent there are not sufficient available funds in the Account to cover your obligations under this Agreement; you agree that such obligations constitute an indebtedness owed to the Bank. The indebtedness will be deemed immediately due and payable in full. If you have any other outstanding loans or extensions of credit with Bank, then for purposes of any security agreements, pledge agreements or guarantees executed in connection with Loans, the indebtedness will be and become part of the Loans secured by the Security Documents, and any collateral securing the Loans will also secure repayment of the indebtedness, subject to the terms of the Security Documents. Bank may also debit any account maintained by Customer with Bank or may set-off against any amount Customer has on deposit, in order to obtain payment of the indebtedness or that the Bank may set off against any amount it owes to the Customer, in order to obtain payment of the Customer’s obligations under this agreement.