Overdraft Advances definition

Overdraft Advances has the meaning ascribed to that term in Section 3.14.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Overdraft Advances has the meaning specified in Section 3.03(f).

Overdraft Advances which will result from advances that we may make automatically from your credit card account, for deposit into a deposit account you designate and maintain with us or a depository institution approved by us, to avoid or limit deposit account overdrafts; and “Special Offers” which will result from use of your card or your account number to take advantage of special, introductory or promotional offers that we identify to you from time to time. Each Special Offer may be considered a separate Balance Category.

Examples of Overdraft Advances in a sentence

• This Agreement and the Control Agreement and the actions required to be taken pursuant to the terms hereof are, and at all times shall be, effective to create and perfect in the Program Agent for the benefit of the Secured Parties a first priority perfected security interest in the Pledged Collateral (subject to the Lien of the Custodian securing the Custodian's Overdraft Advances to the extent permitted by Section 5.02(o) and other Permitted Liens) free and clear of all Adverse Claims.

• The Borrower owns each Borrowing Base Eligible Asset free and clear of Adverse Claims and as of the initial Borrowing Date and at all times thereafter, the Program Agent has a first priority perfected security interest in the Pledged Collateral (subject to the Lien of the Custodian securing the Custodian's Overdraft Advances to the extent permitted by Section 5.02(o) and other Permitted Liens) free and clear of all Adverse Claims.

• Overdraft Advances in Canadian Dollars shall constitute Prime Rate Advances for the purposes of this Agreement and Overdraft Advances in US Dollars shall constitute Base Rate Advances for the purposes of this Agreement.

• The total of your (i) Average Daily Balance of Purchases, (ii) Average Daily Balance of Balance Transfers, (iii) Average Daily Balance of Overdraft Advances, (iv) Average Daily Balance of Cash Advances and (v) Average Daily Balance of Special Advances.

• Consultant shall notify the Company promptly concerning any claim or action against Consultant as to which Consultant claims rights to indemnification under this Agreement, but the failure of Consultant to notify the Company promptly will not relieve the Company of any obligation under this Agreement, except to the extent that the Company is prejudiced by such failure.

• Overdraft Advances will be posted to your Account as set forth in Section 9 below, and the periodic rate interest charge on the Overdraft Advance will be charged as set forth in Section 15 below.

• Overdraft Advances are governed by a separate overdraft advance agreement with us.

• These rates may be different for Purchases, Balance Transfers, Cash Advances, Overdraft Advances and Special Offers.

• The Credit Limit applicable to your credit card Account from time to time pursuant to this Agreement will not be increased or expanded because of Overdraft Advances.

• The Pledged Collateral will not be subject to deduction, set-off, recoupment, banker’s lien, or any other right in favor of any person or entity other than the Borrower and the Secured Parties, except (x) in respect of the subordinated security interest of State Street referred to above, with the prior written consent of the Program Agent, and (y) in respect of the lien securing the Custodian’s Overdraft Advances.

More Definitions of Overdraft Advances

Overdraft Advances has the meaning provided in Section 2.04(f).

Overdraft Advances has the meaning specified in Section 3.03(f). “Overdraft Documents” means the documents, agreements and instruments from time to time governing the Overdraft Facility, as the same may be amended, supplemented or otherwise modified from time to time. “Overdraft Facility” has the meaning specified in Section 3.03(f). “Parent Company” means, with respect to a Lender, the bank holding company (as defined in Federal Reserve Board Regulation Y), if any, that is the direct or indirect parent of such Lender, and/or any Person owning, beneficially or of record, directly or indirectly, a majority of the Stock of such Lender. “Participant Register” has the meaning specified in Section 9.07(f). “Participating Member State” means each state so described in any EMU Legislation. “Participation Agreement” means a loan participation agreement in substantially the form of Exhibit C-2 hereto. “Patriot Act” has the meaning specified in Section 9.16. “PBGC” means the Pension Benefit Guaranty Corporation or any successor. “Permit” means any permit, approval, authorization, license, variance or permission required from a Governmental Authority under an applicable Requirement of Law. “Person” means an individual, partnership, corporation (including a business trust), joint stock company, trust, unincorporated association, limited liability company, joint venture or other entity, or a government or any political subdivision or agency thereof. “Plan” means a Single Employer Plan or a Multiple Employer Plan.

Overdraft Advances has the meaning specified in Section 2.3(g) (Swing Loans).

Overdraft Advances has the meaning specified in Section 2.3(g) (Swing Loans). CREDIT AGREEMENT FMC CORPORATION

Overdraft Advances has the meaning specified in Section 3.03(f). “Overdraft Documents” means the documents, agreements and instruments from time to time governing the Overdraft Facility, as the same may be amended, supplemented or otherwise modified from time to time. “Overdraft Facility” has the meaning specified in Section 3.03(f). “Parent Company” means, with respect to a Lender, the bank holding company (as defined in Federal Reserve Board Regulation Y), if any, that is the direct or indirect parent of such Lender, and/or any Person owning, beneficially or of record, directly or indirectly, a majority of the Stock of such Lender. “Participant Register” has the meaning specified in Section 9.07(f).