Loans and Overdrafts Clause Samples
The "Loans and Overdrafts" clause defines the terms under which a lender provides funds to a borrower, either as a fixed loan amount or as an overdraft facility allowing the borrower to withdraw more than their account balance. This clause typically outlines the borrowing limits, interest rates, repayment schedules, and any conditions or covenants the borrower must meet. Its core practical function is to establish clear rules and expectations for both parties regarding the use and repayment of borrowed funds, thereby reducing the risk of misunderstandings or disputes.
Loans and Overdrafts. Nothing in this Agreement shall be deemed to -------------------- create any obligation on the part of the Bank to loan or advance to BAMSI any amounts in connection with Merchant Processing Services for any period of time.
Loans and Overdrafts. Sections X:\DD OPERACION ▇▇▇▇▇▇▇▇\4-CONTRATOS RELEVANTES\4-LOANS and X:\DD OPERACION ▇▇▇▇▇▇▇▇\4-CONTRATOS RELEVANTES\1-BANCARIOS Y FINANCIEROS of the Data Room contain all information on:
Loans and Overdrafts. 1.4 In the event of our granting you loans or overdrafts at any time and in consideration thereof you agree to repay such loans or overdrafts in accordance with the Terms and Conditions of any facility letters that we may issue to you should any such loan or overdraft not be covered by a specific facility letter we agree that:
(a) repayment of borrowing and payment interest are to be made on first written demand in full without any deduction in the relative currency to us via such correspondent banks or such offices of our bank as we may specify.
(b) you shall be responsible for any costs or expenses including legal fees incurred in providing repayment of your borrowing in accordance with the requirements of our bank, any central bank or any government authority from time to time.
(c) Your failure to settle any loan or overdraft, authorized or not, may result in it being reported to relevant credit agencies or commercial associations.
Loans and Overdrafts. The Offer Letter indicates whether any Facility we provide is a Loan Facility or an Overdraft Facility.