Overdraft Loans definition

Overdraft Loans has the meaning set out in Section 2.2.

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Overdraft Loans means unsecured overdraft advances, including negotiable order of withdrawal line of credit accounts, relating to the Assumed Deposits, as of the Close of Business, plus accrued interest, which do not exceed the applicable credit limit for such Assumed Deposit by more than 10% of that limit and that are linked to an open Deposit account.

Overdraft Loans and "Over Advances") (as each such term is defined in each Other Loan Agreement) is less than or equal to $5,400,000, such portion of the outstanding principal balance of the Revolving Loans shall bear interest until paid at a rate per annum equal to the greater of the (a) the Reference Rate from time to time in effect plus two and one-half percent (2.5%) or (b) two and one-half percent (2.5%) above the Reference Rate in effect at the time such amount became due, and

Examples of Overdraft Loans in a sentence

• Notwithstanding anything to the contrary contained herein, each of the Floor Plan Borrowers shall bear all risk of loss resulting from the payment of any Draft, or any resulting disbursements of the Floor Plan Loans, Swing Line Loans or Swing Line Overdraft Loans, as the case may be, whether or not due to the gross negligence, willful misconduct or fraud of any Manufacturer.

• Overdraft Loans and Over Advances shall bear interest at the rate(s) determined pursuant to Section 2.7 or Section 2.8 of the Credit Agreement, as applicable.

• The Obligations of the Floor Plan Borrowers under this Agreement and any of the other Loan Documents to reimburse the Floor Plan Agent for Drafts presented by a Manufacturer under a Drafting Agreement and to repay any Swing Line Loans, the Floor Plan Loans or the Swing Line Overdraft Loans, as the case may be, funded to pay a Draft shall be unconditional and irrevocable.

• Notwithstanding any other provision hereof to the contrary, no Overdraft Loans shall be available on or after the Operating Facility Term Out Date.

• For certainty, notwithstanding Section 4.1, no Drawdown Notice need be delivered by the Borrower in respect of Overdraft Loans.

More Definitions of Overdraft Loans

Overdraft Loans as defined in Section 2.1(c) and including any Backdated Overdraft Loans.

Overdraft Loans means all overdraft balances on Deposits made pursuant to a written credit agreement between Seller and the account party.

Overdraft Loans as defined in Section 2.1(b) hereof. ---------------

Overdraft Loans means loans made by way of creating or increasing overdrafts in a Borrower’s Account.

Overdraft Loans is defined in SECTION 2.01(c)(i).

Overdraft Loans means unsecured overdraft Loans, including negotiable order of withdrawal line of credit accounts, relating to the Assumed Deposits, as of the Close of Business, plus accrued interest, which do not exceed the applicable credit limit by more than 10% of that limit and are linked to an open account.

Overdraft Loans means all overdraft protection loans associated with the Deposits, and all outstanding balances under such loans.