Common use of Overdraft Loans Clause in Contracts

Overdraft Loans. Lender, in its sole and absolute discretion, and subject to the terms hereof, may make a Revolving Loan to Borrower in an amount equal to the amount of any overdraft which may from time to time exist with respect to the Demand Deposit Account or any other bank account which Borrower may now or hereafter have with Lender. The existence of any such overdraft shall be deemed to be a request by Borrower for such Loan. Borrower acknowledges that Lender is under no duty or obligation to make any Loan to Borrower to cover any overdraft. Borrower further agrees that an overdraft shall constitute a separate Loan under this Agreement (an "Overdraft Loan"), which shall bear, from the date on which the overdraft occurred until paid, interest in an amount equal to the greater of (x) 130% of the highest rate of interest then charged for Loans (other than Overdraft Loans) made hereunder and (y) $50.00 per day. If Lender, in its sole and absolute discretion, decides not to make a Loan to cover part or all of any overdraft, Lender may return any check(s) which created such overdraft.

Overdraft Loans. The Lender, in its sole and absolute discretion, discretion and subject to the terms hereof, may make a Revolving Loan to the Borrower in an amount equal to the amount of any overdraft which may from time to time exist with respect to the Demand Deposit Disbursement Account or any other bank account which the Borrower may now or hereafter have with LenderFBNA or any other Affiliate. The existence of any such overdraft shall be deemed to be a request by the Borrower for such Loan. The Borrower acknowledges that the Lender is under no duty or obligation to make any Loan to the Borrower to cover any overdraft. The Borrower further agrees that an overdraft shall constitute a separate Loan under this Agreement (an "Overdraft LoanOVERDRAFT LOAN"), which shall bear, from the date on which the overdraft occurred until paid, interest in an amount equal to the greater of (x) 130% of the highest rate of interest then charged for Loans (other than Overdraft Loans) made hereunder and (y) hereunder, or $50.00 per day. If the Lender, in its sole and absolute discretion, decides not to make a Loan to cover part or all of any overdraft, the Lender may ma return any check(s) which created such overdraft.

Overdraft Loans. The Lender, in its sole and absolute discretion, discretion and subject to the terms hereof, may make a Revolving Loan to the Borrower in an amount equal to the amount of any overdraft which may from time to time exist with respect to the Demand Deposit Disbursement Account or any other bank account which the Borrower may now or hereafter have with LenderFBNA or any other Affiliate. The existence of any such overdraft shall be deemed to be a request by the Borrower for such Loan. The Borrower acknowledges that the Lender is under no duty or obligation to make any Loan to the Borrower to cover any overdraft. The Borrower further agrees that an overdraft shall constitute a separate Loan under this Agreement (an "Overdraft Loan"), which shall bear, from the date on which the overdraft occurred until paid, interest in an amount equal to the greater of (x) 130% of the highest rate of interest then charged for Loans (other than Overdraft Loans) made hereunder and (y) hereunder, or $50.00 per day. If the Lender, in its sole and absolute discretion, decides not to make a Loan to cover part or all of any overdraft, the Lender may return any check(s) which created such overdraft.

Overdraft Loans. The Lender, in its sole and absolute discretion, discretion and subject to the terms hereof, may make a Revolving Loan to the Borrower in an amount equal to the amount of any overdraft which may from time to time exist with respect to the Demand Deposit Disbursement Account or any other bank account which the Borrower may now or hereafter have with LenderLender or any other Affiliate. The existence of any such overdraft shall be deemed to be a request by the Borrower for such Loan. The Borrower acknowledges that the Lender is under no duty or obligation to make any Loan to the Borrower to cover any overdraft. The Borrower further agrees that an overdraft shall constitute a separate Loan under this Agreement (an "Overdraft LoanOVERDRAFT LOAN"), which shall bearbear interest, from the date on which the overdraft occurred until paid, interest in an amount equal to the greater of (x) 130% of the highest rate of interest then charged for Loans (other than Overdraft LoansLoans or Over Advances) made hereunder and (y) hereunder, or $50.00 per day. If the Lender, in its sole and absolute discretion, decides not to make a Loan to cover part or all of any overdraft, the Lender may return any check(s) which created such overdraft.

Overdraft Loans. Lender, in its sole and absolute discretion, and subject to the terms hereof, may make a Revolving Loan to Borrower in an amount equal to the amount of any overdraft which may from time to time exist with respect to the Demand Deposit Account or any other bank account which Borrower may now or hereafter have with Lender. The existence of any such overdraft shall be deemed to be a request by Borrower for such Loan. Borrower acknowledges that Lender is under no duty or obligation to make any Loan to Borrower to cover any overdraft. Borrower further agrees that an overdraft shall constitute a separate Loan under this Agreement (an "Overdraft Loan"), which shall bear, from the date on which the overdraft occurred until paid, interest in an amount equal to the greater of one hundred thirty percent (x130%) 130% of the highest rate of interest then charged for Revolving Loans (other than Overdraft Loans) made hereunder hereunder, and (y) $50.00 50 per day. If Lender, in its sole and absolute discretion, decides not to make a Loan to cover part or all of any overdraft, Lender may return any check(s) which created such overdraft.

Overdraft Loans. The Lender, in its sole and absolute discretion, discretion and subject to the terms hereof, may make a Revolving Loan to Borrower the Borrowers in an amount equal to the amount of any overdraft which may from time to time exist with respect to the Demand Deposit Disbursement Account or any other bank account which Borrower the Borrowers may now or hereafter have with LenderLender or any other Affiliate. The existence of any such overdraft shall be deemed to be a request by Borrower the Borrowers for such Loan. Borrower acknowledges The Borrowers acknowledge that the Lender is under no duty or obligation to make any Loan to Borrower the Borrowers to cover any overdraft. Borrower The Borrowers further agrees agree that an overdraft shall constitute a separate Loan under this Agreement (an "Overdraft Loan"), which shall bearbear interest, from the date on which the overdraft occurred until paid, interest in an amount equal to the greater of (x) 130% of the highest rate of interest then charged for Loans (other than Overdraft LoansLoans or Over Advances) made hereunder and (y) hereunder, or $50.00 per day. If the Lender, in its sole and absolute discretion, decides not to make a Loan to cover part or all of any overdraft, the Lender may return any check(s) which created such overdraft.

Overdraft Loans. The Lender, in its sole and absolute discretion, discretion and subject to the terms hereof, may make a Revolving Loan to the Borrower in an amount equal to the amount of any overdraft which may from time to time exist with respect to the Demand Deposit Disbursement Account or any other bank account which the Borrower may now or hereafter have with LenderFBNA or any other Affiliate. The existence of any such overdraft shall be deemed to be a request by the Borrower for such Loan. The Borrower acknowledges that the Lender is under no duty or obligation to make any Loan to the Borrower to cover any overdraft. The Borrower further agrees that an overdraft shall constitute a separate Loan under this Agreement (an "Overdraft Loan"), which shall bear, from the date on which the overdraft occurred until paid, interest in an amount amount, equal to the greater of (x) 130% of the highest rate of interest then charged for Loans (other than Overdraft Loans) made hereunder and (y) hereunder, or $50.00 per day. If the Lender, in its sole and absolute discretion, decides not to make a Loan to cover part or all of any overdraft, the Lender may return any check(s) which created such overdraft.