Repeated Overdrafts definition

Repeated Overdrafts refers to six (6) or more banking days the Account balance is negative, or the Account balance would have become negative if checks or other charges to the Account had been paid. “Small Business” is a person or entity who has successfully subscribed to Online Banking and Mobile Banking and that maintains Business Account(s) for primarily Business or commercial purposes and for which check deposits are within Deposit Limits.
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Examples of Repeated Overdrafts in a sentence

  • Your eligibility requirements for MCD continue during your use of the service and may be terminated in the event that we become aware of any delinquency on Bank of the Valley loans, charged off loans or deposit Accounts, Repeated Overdrafts on deposit Accounts at Bank of the Valley, deposit of fraudulent checks or presentment of checks more than once, or you have shared your Credentials with someone other than an owner on the Account who is remotely depositing checks into your Account.

  • Your eligibility requirements continue throughout your Use of the service and may be terminated in the event that the Bank becomes aware of any delinquency on Bank of the Valley loans, charged off loans or deposit Accounts, Repeated Overdrafts on deposit Accounts at Bank of the Valley, deposit of fraudulent checks or presentment of checks more than once, or you have shared your Credentials with someone other than an owner on the Account who is remotely depositing checks into your Account.

Related to Repeated Overdrafts

  • Overdraft means any payment or transfer of funds on behalf of a Fund or series of a Fund for which there are, at the close of business on the date of such payment or transfer, insufficient funds held by the Custodian on behalf of such Fund or series thereof.

  • Overdraft Obligations means, with respect to any Portfolio, the amount of any outstanding Overdraft(s) provided by the Custodian to such Portfolio together with all accrued interest thereon.

  • 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.

  • Lender’s Account means the account identified in Schedule L-1.

  • Locked Box Date means December 31, 2024.