Overdraft Facility definition

Overdraft Facility or ‘Facility’ means an authorised debit balance that may be offered to you at our discretion from time to time allowing your Account to go overdrawn up to an agreed Overdraft Limit.

Overdraft Facility means an explicit credit agreement whereby a creditor makes available to a consumer funds which exceed the current balance in the consumer's current account;

Overdraft Facility means a line of credit we supply to you for working capital purposes. Separate terms and conditions will apply to an overdraft facility.

Examples of Overdraft Facility in a sentence

• In these Overdraft Facility Terms and Conditions the following words have the following meanings, unless otherwise specified or the context requires otherwise: Applicable Interest Rate Overdraft means the interest rate applicable to Your overdraft, as specified in the Overdraft Schedule that is part of this agreement or as amended in accordance with clause 5 below.

• The Company shall repay all amounts outstanding under the Overdraft Facility in accordance with Clause 9.3 (Repayment of Overdraft Facility).

• Basic Currency of the Account or Basic Currency A #1 in Currency Priority list as assigned by the Client Overdraft Facility or Overdraft A short-term loan issued to one or several sub-accounts of the Liberty Account upon request of the Client, which allows the Client to draw on funds in excess of the effective balance.

• Upon the expiry of the period of notice, the Overdraft Facility shall immediately stand repayable by the Borrower to the Bank.

• Change of Credit means a change in the financial position of any person who has given a guarantee of your obligations under this agreement or an adverse change in the value of the Security Interest which we determine would, if it had occurred at the time we approved the Overdraft Facility, have materially adversely affected our decision to provide the Overdraft Facility on the Terms and Conditions set out in this agreement.

More Definitions of Overdraft Facility

Overdraft Facility or ‘Facility’ means an authorised debit balance that may be offered to you at our discretion from time to time allowing your Account to go overdrawn up to an agreed Overdraft Limit. ‘Overdraft Limit’ means the amount of the authorised debit balance available in connection with your Overdraft Facility.

Overdraft Facility has the meaning assigned to that term in Section 8.2(b)(xii).

Overdraft Facility means an overdraft facility established in accordance with Clause 5.8 (Overdraft Facilities and the Guarantee Facility).

Overdraft Facility means the facility in the maximum amount of the Overdraft Facility Commitment to be made available to the Borrowers in accordance with Clause 2.2.2.

Overdraft Facility means any same-day overdraft facility extended by a bank or other lending institution to STX, the Borrower or any Subsidiary.

Overdraft Facility means an amount approved by the Bank and identified in an overdraft credit facility agreement up to which the Customer has the right to draw down overdraft loans.

Overdraft Facility means any facility provided by a United Kingdom clearing bank to a member of the UK Group.