Overdraft Line of Credit Sample Clauses

Overdraft Line of Credit. If Your payment is more than 10 days late, You will be charged the greater of $10.00 or 5.00% of the payment due, subject to a $25.00 maximum. OTHER FEES AND CHARGES (OVERDRAFT LINE OF CREDIT). You will be charged the following fees associated with the use of Your Account: (a) $10.00 for any check (or other negotiable instrument used for payment) which is returned unpaid; and (b) $10.00 for each billing cycle during which You exceed Your Credit Limit. FINANCE CHARGES (OVERDRAFT LINE OF CREDIT). A Finance Charge will be assessed on any unpaid principal balance of Your Account for the period such balance is outstanding. Balances change each time advances are made, payments are made or credits given. The Finance Charge begins to accrue on the date of each advance and there is no grace period. HOW TO DETERMINE THE FINANCE CHARGE (OVERDRAFT LINE OF CREDIT). For Overdraft Line of Credit, the Finance Charge is determined by multiplying Your unpaid balance at the close of each day in the billing cycle being accounted for by the applicable Daily Periodic Rate. The unpaid balance is the balance each day after payments, credits, and unpaid Finance Charges to that balance have been subtracted and any new advances, insurance premiums or other charges have been added to Your unpaid balance. These daily Finance Charges are then added together and the sum is the amount of the Finance Charge owed for the billing cycle being accounted for. The total Finance Charge You owe on Your Account for each billing cycle is the sum of all the Finance Charges due for all applicable Feature Categories.
Sample 1Sample 2Sample 3See All (8)
AutoNDA by SimpleDocs
Overdraft Line of Credit. Amounts under that certain Overdraft Line of Credit between Bank of Montreal and Xxxxxxx Foods of Canada Corp. in an aggregate principal amount not to exceed $20,000,000.
Sample 1Sample 2Sample 3See All (7)
Overdraft Line of Credit. This service requires you to complete an application and approval is based on your credit worthiness.
Sample 1Sample 2
Overdraft Line of Credit. (Overdraft Protection) – You may elect to use your Visa Account as an Overdraft Line of Credit (Overdraft Protection) for your share account(s) with DCU, in accordance with the terms set forth in Section IV (Overdrafts) of DCU’s Account Agreement for Consumers, including any associated fees or costs set forth in that agreement and/or in DCU’s Schedule of Fees and Service Charges. If you elect to do so, when there is an overdraft on your share account with DCU, the amount of overdraft will be added automatically to the outstanding balance on your Visa Account via an Overdraft Protection Transfer
Sample 1Sample 2
Overdraft Line of Credit. If you have an overdraft line of credit in conjunction with your Checking Account, then you may use that line of credit to fund any overdraft on your Checking Account, or your Regular Share Account. However, if you do overdraw, you authorize us to cover the overdraft as follows:
Sample 1
Overdraft Line of Credit. The Credit Union offers an overdraft line of credit for qualifying members. If you have questions regarding applying for an overdraft line of credit, please contact the Credit Union for additional information.
Sample 1
Overdraft Line of Credit. In order to provide authorizations to the Issuing Bank, we will make a revolving credit line available to you in an amount we determine. This amount is your Overdraft Line of Credit. Funds from the Overdraft Line of Credit will be used to fund transactions made with your Extra Card. We will determine whether to authorize use of the Overdraft Line of Credit by evaluating your income (previously provided to us) and other information available to us about you. Based on this information, we may increase or decrease your Overdraft Line of Credit. We will not use or access your credit score. By agreeing to these terms, you authorize us to obtain this information and consent to our evaluating whether you are qualified to obtain an Overdraft Line of Credit. Other than Extra Card fees (see Section 1.f), we do not charge interest for use of the overdraft line of credit.
Sample 1
AutoNDA by SimpleDocs
Overdraft Line of Credit. If we have approved an Overdraft Line of Credit for your account, we may honor approved items drawn on insufficient funds by transferring funds as you have directed from another account under the Membership and Account Agreement Disclosure or a loan account or as required under the Credit Union’s Overdraft Protection Plan. The fee for overdraft transfers, if any, is set forth in the Fee Schedule Disclosure. The Membership and Account Agreement Disclosure governs all transfers, except those governed by agreements for loan accounts.
Sample 1

Related to Overdraft Line of Credit

  • Line of Credit Subject to the terms and conditions of this Agreement, Bank hereby agrees to make advances to Borrower from time to time up to and including April 2, 2015, not to exceed at any time the aggregate principal amount of One Million Five Hundred Thousand Dollars ($1,500,000.00) (“Line of Credit”), the proceeds of which shall be used to finance Borrower’s working capital requirements. Borrower’s obligation to repay advances under the Line of Credit shall be evidenced by a promissory note dated as of May 1, 2012 (“Line of Credit Note”), all terms of which are incorporated herein by this reference.

  • Revolving Line of Credit From time to time prior to the expiration of the Term, so long as an Event of Default has not occurred or if an Event of Default has occurred, such Event of Default has been timely remedied, Lender will, in its Discretion and subject to the terms and conditions set forth in this Agreement, make Revolving Loans to Borrower in such amounts as Borrower may request, provided that the aggregate principal amount of all Revolving Loans shall not exceed the lesser of the Revolving Advance Limit or the Borrowing Base. Borrower may request from time to time Revolving Loan advances by submitting a signed, completed Borrowing Base Certificate to Lender, in each case given no later than 1:00 p.m. (Eastern time) on the Business Day of the proposed Revolving Loan advance. Subject to the terms and conditions of this Agreement, Lender will make the proceeds of each such requested Revolving Loan advance available to Borrower on the day requested by transferring funds to Borrower's Operating Account or as otherwise instructed by Borrower. Lender shall not be obligated to make Revolving Loans to Borrower at any time; each Revolving Advance which is made under this Agreement will be made at the option of, and in the Discretion of, Lender. The Revolving Loans will not be evidenced by a promissory note and a copy of Lender's books and records related to the Revolving Loans shall constitute prima facie evidence of the outstanding amount of Revolving Loans. The Revolving Loans will be due and payable upon the earlier of the occurrence of an Event of Default or the expiration of the Initial Term. Should an Overadvance exist, Borrower shall immediately make principal reduction payments of such excess to Lender as are required to reduce the outstanding balance of the Revolving Loans such that no Overadvance exists. For each Revolving Loan made to Borrower via wire transfer, Borrower shall pay Lender an Electronic Payment Fee of $25.00, or such other amount as Lender shall customarily charge its Borrowers for the cost and expense of making electronic transfers of funds.

  • The Line of Credit On terms and conditions as set forth herein, the Bank agrees to make Advances to the Borrowers from time to time from the date hereof to the Expiration Date, provided the aggregate amount of such Advances outstanding at any time does not exceed $40,000,000.00 (the “Line of Credit”). Within the foregoing limits, the Borrowers may borrow, partially or wholly prepay, and reborrow under this Section 2.1. Proceeds of the Line of Credit shall be used to assist with seasonal working capital needs and acquisitions.

  • Line of Credit Note Xxxxxxxx's obligation to repay advances under the Line of Credit shall be evidenced by a promissory note substantially in the form of Exhibit A attached hereto ("Line of Credit Note"), all terms of which are incorporated herein by this reference.

  • Credit Line If your application is approved by us, this agreement will constitute a revolving line of credit for an amount which will be the credit line under your Account. We will advise you of the amount of your credit line. That amount will be the maximum amount you may have outstanding at any time. You agree not to attempt to obtain more credit than the amount of your credit line. However, if you temporarily exceed your credit line, you agree to repay the excess immediately, even if we have not yet billed you. Obtaining such credit does not increase your credit line and if you exceed your Credit Limit repeatedly, we may suspend your credit privilege under this Agreement. We retain the right to increase or decrease your credit line at any time for any reason. Any increase of reduction on the limit of your credit line will be shown on your monthly statement or by separate notice together with any changes in the applicable minimum monthly payments. Your eligibility for this credit line is determined by our loan policy and may be terminated at our sole discretion, without demand or notice. You may close your credit line at any time by notifying us in writing and returning all Cards cut in half. If you terminate this Agreement or if we terminate or suspend your credit privileges, the provisions of this Agreement and your liability hereunder shall otherwise remain in full force and effect until you have paid us all sums due under this Agreement and returned all Cards.

  • Line of Credit Amount (a) During the availability period described below, the Bank will provide a line of credit to the Borrowers. The amount of the line of credit (the “Facility No. 1 Commitment”) is Twenty Million and 00/100 Dollars ($20,000,000.00).

  • Overdraft Facility In the event that the Custodian is directed by Proper Instructions to make any payment or transfer of funds on behalf of the Fund for which there would be, at the close of business on the date of such payment or transfer, insufficient funds held by the Custodian on behalf of the Fund, the Custodian may, in its sole discretion, provide an overdraft (an "Overdraft") to the Fund in an amount sufficient to allow the completion of such payment. Any Overdraft provided hereunder: (a) shall be payable on the next business day, unless otherwise agreed by the Fund and the Custodian; and (b) shall accrue interest from the date of the Overdraft to the date of payment in full by the Fund at a rate agreed upon in writing, from time to time, by the Custodian and the Fund. The purpose of such Overdrafts is to temporarily finance extraordinary or emergency expenses not reasonably foreseeable by the Fund. The Custodian shall promptly notify the Fund in writing ("Overdraft Notice") of any Overdraft by facsimile transmission or in such other manner as the Fund and the Custodian may agree in writing. The Custodian shall have a right of set-off against all Assets (except for Assets held in a segregated margin account or otherwise pledged in connection with options or futures contracts held for the benefit of the Fund and for Assets allocated to any other Overdraft or loan made hereunder); provided, however, the Custodian shall promptly notify the Fund in writing of any intent to exercise a right of set-off against Assets hereunder and shall not exercise any such right of set-off against Assets hereunder unless and until the Fund has failed to pay (within ten (10) days after the Fund's receipt of such notice of intent to exercise a right of set-off), any Overdraft, together with all accrued interest thereon. Notwithstanding the provisions of any applicable law, including, without limitation, the Uniform Commercial Code, the only rights or remedies which the Custodian is entitled to with respect to Overdrafts is the right of set-off granted herein.

  • Letter of Credit Accommodations (a) Subject to and upon the terms and conditions contained herein, at the request of Borrower, Lender agrees to provide or arrange for Letter of Credit Accommodations for the account of Borrower containing terms and conditions acceptable to Lender and the issuer thereof. Any payments made by Lender to any issuer thereof and/or related parties in connection with the Letter of Credit Accommodations shall constitute additional Revolving Loans to Borrower pursuant to this Section 2.

  • of Credit Agreement Section 1.1(b)(i) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

  • Amount and Nature of Credit (a) Subject to the terms and conditions of this Agreement, the Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit at the request of Borrower, in such aggregate amount as Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the Revolving Credit Exposure be in excess of the Total Commitment Amount.

Time is Money Join Law Insider Premium to draft better contracts faster.