Overdraft Facility definition

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.

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Overdraft Facility means an explicit credit agreement whereby a creditor makes available to a consumer funds which exceed the current balance in the consumer's current account;

Overdraft Facility means a line of credit we supply to you for working capital purposes. Separate terms and conditions will apply to an overdraft facility.

Examples of Overdraft Facility in a sentence

• Overdraft Facility and Security for Payment...........................12 9.

• Ancillary Facility Lenders and Issuing Banks) shall not restrict any right of an Ancillary Facility Lender to net or set-off in relation to a Multi-account Overdraft Facility, in accordance with the terms of the Senior Facilities Agreement or relevant Pari Passu Debt Document, to the extent that the netting or set-off represents a reduction from a Permitted Gross Amount of that Multi-account Overdraft Facility to or towards its Designated Net Amount.

• Overdraft Facility and Security for Payment.................................................................13 9.

• The Borrowers jointly and severally promise to pay interest on the Overdraft Facility (i) monthly in arrears on the last day of each calendar month, commencing on the first such date following the Closing Date and (ii) the date on which the Overdraft Facility is repaid in full.

• An amendment to the documentation evidencing the Overdraft Facility, in form and substance acceptable to Administrative Agent.

More Definitions of Overdraft Facility

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 Limit’ means the amount of the authorised debit balance available in connection with your Overdraft Facility.

Overdraft Facility means the facility in the maximum amount of the Overdraft Facility Commitment to be made available to the Borrowers in accordance with Clause 2.2.2.

Overdraft Facility has the meaning assigned to that term in Section 8.2(b)(xii).

Overdraft Facility means any same-day overdraft facility extended by a bank or other lending institution to STX, the Borrower or any Subsidiary.

Overdraft Facility means an explicit credit agreement whereby a payment service provider makes available to a consumer funds which exceed the current balance in the consumer’s payment account;

Overdraft Facility means an amount approved by the Bank and identified in an overdraft credit facility agreement up to which the Customer has the right to draw down overdraft loans.

Overdraft Facility means any facility the details of which are set out in the “Overdraft Facility” part of Schedule 1 (The Facility/ies) of the Facility Letter.