Overdraft Loan definition
Examples of Overdraft Loan in a sentence
Each Swing Line Overdraft Loan Borrowing may be prepaid at any time and from time to time, in whole or in part, subject to the requirements of Section 5.10, but otherwise without premium or penalty.
Each Swing Line Loan and each Swing Line Overdraft Loan shall, from time to time after the date of such Loan, bear interest as provided in Section 5.2(e).
Interest on each Acquisition Loan, each Swing Line Loan, each Swing Line Overdraft Loan and each Floor Plan Loan shall be payable in arrears on each Interest Payment Date applicable to such Loan and as otherwise provided in this Agreement.
The amount and date of each Swing Line Overdraft Loan, the Applicable Interest Rate, the Interest Period, and the amounts and dates of any repayment shall be noted on the Swing Line Bank's records, which records will be conclusive evidence thereof, absent manifest error; provided however, that any failure by the Swing Line Bank to record any such information shall not affect the applicable Floor Plan Borrower's obligation under the terms of this Agreement and the Loan Documents.
Interest on each Swing Line Loan and Swing Line Overdraft Loan shall be payable in arrears on each Interest Payment Date applicable to such Loan except as otherwise provided in this Agreement.