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.
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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.
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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.

Related to Intraday Overdraft

  • Overdraft means any payment or transfer of funds on behalf of a Fund or series of a Fund for which there are, at the close of business on the date of such payment or transfer, insufficient funds held by the Custodian on behalf of such Fund or series thereof.

  • Overdraft Rate means the per annum rate of interest, regardless of compounding frequency, designated by the Financial Institution as its “Overdraft Rate” from time to time.

  • 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 Obligations means, with respect to any Portfolio, the amount of any outstanding Overdraft(s) provided by the Custodian to such Portfolio together with all accrued interest thereon.

  • Canadian Dollar means the lawful currency of Canada.