Line of Credit definition

Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

Line of Credit means the credit facility described as such in Section 2.

Line of Credit means a type of Loan product that typically incorporates features that give the relevant Borrower options to, among other things, make further drawings on the Loan account;

Examples of Line of Credit in a sentence

• Transfers from the Line of Credit Loan or Mastercard credit card will be governed by the applicable loan agreement and the advances shall not exceed the maximum limit of the Line of Credit Loan or Mastercard credit card.

• Overdraft protection is available for Checking Accounts in the form of a Line of Credit Loan, Mastercard credit card, by transfers from the Savings Account or Overdraft Privilege.

• When there are insufficient funds in a checking account to cover a purchase and overdraft protection is triggered, funds to cover the shortfall will come from available funds as the member elects: (1) Savings (2) Line of Credit if applicable – (up to the maximum limit of the loan) (3) Mastercard credit card if applicable (up to the maximum limit of the loan) or (4) Overdraft Privilege if applicable.

• Lender heretofore extended to Borrower a revolving line of credit in the original maximum principal amount of Forty Million and No/100 Dollars ($40,000,000.00) (the “Loan” or “Revolving Line of Credit”), which Revolving Line of Credit is evidenced by, without limitation, that certain Promissory Note dated as of May 7, 2021, executed by Borrower in favor of Lender (together with any and all amendments thereto or modifications thereof, the “Note”).

• To figure the Finance Charge on your Overdraft Line of Credit, we compute a daily Finance Charge by applying the daily periodic rate to the amount you owe at the end of the day (including new advances and deducting payments and credits made during that day).

More Definitions of Line of Credit

Line of Credit has the meaning set forth in Section 1.1(a).

Line of Credit as defined in Section 2.1.

Line of Credit is defined in the Recitals.

Line of Credit shall have the meaning given the term in Section 2.1.a.

Line of Credit has the meaning ascribed thereto in Section 2.1(a) hereof.

Line of Credit means the commitment of the Lenders in the aggregate amount of $65,000,000 to (a) make Revolving Loans pursuant to Sections 3 and 4 of this Agreement, and (b) assist the Companies in opening Letters of Credit pursuant to Section 5 of this Agreement (up to the Letter of Credit Sub-Line).

Line of Credit means the line of credit established under Section 2.1 of this Agreement.