Daylight Overdraft Loan definition

Daylight Overdraft Loan as defined in Section 2.2(a).
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Daylight Overdraft Loan any discretionary loan made by the Daylight Overdraft Bank pursuant to Section 2.3 of this Agreement.
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Examples of Daylight Overdraft Loan in a sentence

  • Subject to Section 2.6, each Daylight Overdraft Loan shall mature at 4:30 p.m. (New York City time), on the Borrowing Date therefor or such later time agreed by the Daylight Overdraft Lender in its sole discretion, such later time not to be later than 10:00 a.m. (New York City time) on the next Business Day following the Borrowing Date therefor.

  • Each Lender shall promptly transfer to the Daylight Overdraft Lender, in immediately available funds, the amount of its Daylight Overdraft Participation Amount and upon receipt thereof the Daylight Overdraft Lender shall deliver to such Lender a Daylight Overdraft Loan participation certificate, in a form specified by the Daylight Overdraft Lender, dated the date of receipt of the Daylight Overdraft Participation Amount and in such amount.

  • The Administrative Agent shall have received a Borrowing Notice pursuant to Section 2.4 or Letter of Credit Request pursuant to Section 3.2, except in the case of a Daylight Overdraft Loan, the Daylight Overdraft Lender shall have received a request pursuant to Section 2.4(b).

  • Subject to Section 2.6, each Daylight Overdraft Loan shall mature at 4:00 p.m. (New York City time), on the Borrowing Date therefor.

  • Each Approving Daylight Overdraft Lender shall promptly transfer to the Daylight Overdraft Lender, in immediately available funds, the amount of its Daylight Overdraft Participation Amount and upon receipt thereof the Daylight Overdraft Lender shall deliver to such Lender a Daylight Overdraft Loan participation certificate, in a form specified by the Daylight Overdraft Lender, dated the date of receipt of the Daylight Overdraft Participation Amount and in such amount.

  • All payments made by the Borrowers on account of Daylight Overdraft Loans shall be made without set-off or counterclaim and shall be made prior to 4:00 p.m. (New York City time) on the Borrowing Date of such Daylight Overdraft Loan to the Administrative Agent for the account of the Daylight Overdraft Lender at the Administrative Agent’s office specified in Section 11.2 in immediately available funds.

  • During the Working Capital Facility Commitment Period, each Borrower may use the Daylight Overdraft Loan Sub-Limit by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof.

  • Each Swing Line Loan will promptly be made available on the Borrowing Date to the Borrower by the Swing Line Lender by wire transfer to the account of the Borrower set forth on Schedule 2.2. Each Daylight Overdraft Loan will be made available on the Borrowing Date to the Borrower by the Daylight Overdraft Lender by crediting the amount of such Daylight Overdraft Loan to the account of the Borrower set forth on Schedule 2.2.

  • Each Daylight Overdraft Loan will be made available on the Borrowing Date therefor to the Borrower by the Daylight Overdraft Lender by wire transfer to the account of the Borrower set forth on Schedule 2.4 (or such other accounts of the Borrower or other Person reasonably acceptable to the Required Lenders in the United States as may be notified in writing by the Borrower to the Administrative Agent from time to time).

  • Each Daylight Overdraft Loan will be made available on the Borrowing Date to the applicable Borrower by the Daylight Overdraft Lender by crediting the amount of such Daylight Overdraft Loan to the account of such Borrower set forth on Schedule 2.2(B), such account to be held at the Daylight Overdraft Lender.

Related to Daylight Overdraft Loan

  • Swingline Facility means the swingline facility established pursuant to Section 2.2.

  • Revolving Line Maturity Date is the earliest of (a) March 31, 2009, or (b) the occurrence of an Event of Default.”

  • Swingline Loan Note a promissory note in the form of Exhibit H-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Swing Loan Maturity Date means, with respect to any Swing Loan, the earlier of (i) the last day of the period for such Swing Loan as established by the Swing Line Lender and agreed to by the Borrower, which shall be less than 15 days, and (ii) the Revolving Facility Termination Date.

  • Swingline Maturity Date means, with respect to any Swingline Loan, the date that is five Business Days prior to the Revolving Credit Maturity Date.