Intraday Overdraft definition
Intraday Overdraft means any payment or transfer of funds on behalf of a Fund or Series for which there were insufficient funds at the time of the payment or transfer but not as of the close of business on the dates of such payment or transfer.
Intraday Overdraft means any amount drawn on the GCC Account when the Current Balance therein is less than or equal to zero, in accordance with Section 2.2 hereunder.
Examples of Intraday Overdraft in a sentence
In the event that any amount in respect of an Intraday Overdraft remains outstanding at the end of any Business Day for any reason whatsoever, the Lender's obligations under this Agreement shall immediately and automatically terminate.
Notwithstanding the giving of a Waiver, the Borrower's failure to repay an Intraday Overdraft by the end of the Business Day shall be deemed to be an Event of Default.