Overdraft Facilities Sample Clauses

The Overdraft Facilities clause defines the terms under which a borrower may access funds exceeding the available balance in their account, effectively allowing them to temporarily borrow money from the lender. This clause typically outlines the maximum overdraft limit, applicable interest rates, repayment obligations, and any associated fees or conditions for using the facility. Its core practical function is to provide short-term liquidity to the borrower, ensuring they can meet payment obligations even when their account balance is insufficient, while also clarifying the lender’s rights and the borrower’s responsibilities regarding the overdraft.
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Overdraft Facilities. Interest in respect of Overdraft Facilities shall accrue on a daily basis and shall be calculated and payable within five Business Day after the end of each calendar month (notwithstanding that the Overdraft Facility may have been cancelled and/or repaid during that month) in accordance with its terms and/or with the terms of this Agreement. On the calculation date each Facility C Lender shall notify the Company of any interest payable by the Borrowers as at that date and shall debit each relevant Borrower's account with that Facility C Lender with the amount of interest payable by the relevant Borrower to that Facility C Lender on that date. A failure by a Facility C Lender to notify the Company of any interest payable hereunder shall not prejudice that Lender's rights to receive such interest.
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Overdraft Facilities. As of June 29, 1998 the Company has used the bank overdraft facilities according to the extent indicated in SCHEDULE 6.22.
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Overdraft Facilities. Paragraph 1.1 of Schedule II to the Credit Agreement shall be amended in its entirety to read as follows: 1.1. An Overdraft Bank may, but shall not be required to, agree with one or more Overdraft Borrowers to make an overdraft facility available to such Overdraft Borrower or Overdraft Borrowers on an on demand, uncommitted basis, subject to and in accordance with the terms of this Agreement, for the purpose of financing the Group Companies’ general working capital purposes, subject to the Overdraft Limit. The parties to this Agreement acknowledge that each Overdraft Bank may require the applicable Overdraft Borrower or Overdraft Borrowers to enter into a facility agreement and other documentation in respect of such Overdraft Facility.”
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Overdraft Facilities. If we provide you with an Overdraft Facility, you may draw on the Overdraft Account up to the Facility Limit. If we allow credit over the Facility Limit, we do not waive our right to refuse future Drawings in excess of the Facility Limit.
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Overdraft Facilities. Facility B and Facility C are renewable and may be utilised repeatedly during the entire Availability Period for the relevant Facility, so that each receipt of funds in the relevant Overdraft Account causes partial or complete repayment of the relevant Overdraft Outstanding Amount, and as a consequence the relevant Available Facility is renewed accordingly in whole or in part.
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Overdraft Facilities. The parties hereto acknowledge that the Swing Line Lender may from time to time make loans to the UK Borrower pursuant to overdraft, autoborrow, cash pooling or similar arrangements (the "UK Overdraft Facilities") in an amount not to exceed the UK Sublimit. The loans made pursuant to the UK Overdraft Facilities (the "UK Overdraft Advances") shall be deemed Swing Line Loans for all purposes hereof and shall be subject to the provisions hereto; provided that (i) interest on each UK Overdraft Advance shall be due and payable in arrears on each date as agreed between the UK Borrower and the Swing Line Lender until such time as the Lenders have funded their risk participations in such UK Overdraft Advance pursuant to this Section 2.04 and (ii) at any time after the Lenders have funded their risk participations in such UK Overdraft Advance, interest on such UK Overdraft Advance shall be due and payable in arrears on the Interest Payment Dates set forth herein.
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Overdraft Facilities. Interest in respect of Overdraft Facilities shall accrue on a daily basis and shall be calculated and payable within five (5) Business Days after the end of each calendar month (notwithstanding that the Overdraft Facility may have been cancelled and/or repaid during that month in accordance with its terms and/or with the terms of this Agreement). On the calculation date each Overdraft Bank shall notify the Company of any interest payable by the Borrowers as at that date. A failure by an Overdraft Bank to notify the Company of any interest payable hereunder shall not prejudice the Lenders' rights to receive such interest. The amount of interest payable to an Overdraft Bank shall be payable from an Overdraft Facility with such Overdraft Bank without the need for a Utilisation Request provided the conditions in clauses 5.4(c) to 5.4(f) are met (the Overdraft Bank is authorised and instructed to transfer the relevant funds directly to the Collection Account), failing which the Company shall instruct the payment and, if not done by the Company within three (3) Business Days, the Collateral Management Agent shall be authorised to debit the Collection Account (and the Borrowers shall immediately pay any shortfall to the extent all interest obligations are not satisfied therefrom).
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Overdraft Facilities. Parent will cause all of the overdraft facilities identified in Section 6.25 of the Seller Disclosure Schedule to be discharged, terminated or cancelled with respect to the Transferred Companies and Subsidiaries on or prior to the Closing.
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Overdraft Facilities guarantee, bonding, documentary or stand-by letter of credit facilities;
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Related to Overdraft Facilities

  • 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.

  • Laundry Facilities Washers and dryers are installed in each apartment for the exclusive use of students in the apartment. Any other use is prohibited. The use of washers and dryers are free. LINEN: Brighton provides a mattress cover on all mattresses. Students need to bring their own bedding. All beds are regular twin size. The typical cost for replacing a mattress cover is $25.00. MAINTENANCE: Students are responsible to notify the manager in writing as soon as possible if they notice anything in an apartment that requires repair work or maintenance. See “Property Conditions” section 12 of the BYU-Idaho Student Landlord Housing Contract.

  • Overdraft In the event that the Custodian is directed by Proper Instructions to make any payment or transfer of funds on behalf of a 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 such Fund, the Custodian may, in its discretion, provide an overdraft ("Overdraft") to the Fund (such Fund being referred to herein as an "Overdraft Fund"), in an amount sufficient to allow the completion of such payment or transfer. Any Overdraft provided hereunder: (a) shall be payable on the next Business Day, unless otherwise agreed by the Overdraft Fund and the Custodian; and (b) shall accrue interest from the date of the Overdraft to the date of payment in full by the Overdraft Fund at a rate agreed upon in writing, from time to time, by the Custodian and the Overdraft Fund. The Custodian and the Funds acknowledge that the purpose of such Overdrafts is to temporarily finance the purchase or sale of securities for prompt delivery in accordance with the terms hereof. The Custodian hereby agrees to notify each Overdraft Fund by 3:00 p.m., New York time, of the amount of any Overdraft. Provided that Custodian has given the notice required by this subparagraph (f), the Funds hereby agree that, as security for the Overdraft of an Overdraft Fund, the Custodian shall have a continuing lien and security interest in and to all interest of such Overdraft Fund in Securities whose purchase is financed by Custodian and which are in Custodian's possession or in the possession or control of any third party acting on Custodian's behalf and the proceeds thereof. In this regard, Custodian shall be entitled to all the rights and remedies of a pledgee under common law and a secured party under the New York Uniform Commercial Code and any other applicable laws or regulations as then in effect."

  • Ancillary Facilities (a) If any Borrower and any Ancillary Lender agree, subject to compliance with the requirements set forth in this Section 2.23, such Ancillary Lender shall be permitted to provide an Ancillary Facility on a bilateral basis to such Borrower. To the extent any Ancillary Facility exists, the following shall apply: (i) The applicable Revolving Commitment of the Ancillary Lender shall: (A) be deemed to be utilized by its applicable Ancillary Commitment for purposes of (1) calculating the commitment fee payable to such Ancillary Lender pursuant to Section 2.12(a) and (2) calculating the aggregate remaining amount of Revolving Exposure of all applicable Revolving Lenders available under the Revolving Facility (it being understood the commitment fee payable pursuant Section 2.12(a) to Lenders without an Ancillary Facility shall not be modified by the existence of any Ancillary Facility and for purposes of such calculation it shall be assumed that each such Lender’s Revolving Commitments have not been reduced as a result of such Ancillary Facility) (such remaining amount, the “Remaining Revolving Exposure”) and (B) not be deemed to be utilized by the Ancillary Commitment of the applicable Ancillary Lender for purposes of determining whether the Dollar Equivalent of such Ancillary Lender’s Revolving Exposure exceeds its applicable Revolving Commitment (and therefor whether such Ancillary Lender is required to make or participate in a Loan or Letter of Credit under this Agreement). (ii) Borrowings of the Remaining Revolving Exposure shall be made on a pro rata basis among the Revolving Lenders of the applicable Class (including the applicable Ancillary Lenders) pursuant to and subject to the limitations set forth in Section 2.01. (b) To request the creation of an Ancillary Facility, any Borrower shall deliver to the Administrative Agent not later than five (5) Business Days (or such shorter period agreed to by the Administrative Agent) prior to the first date on which such Ancillary Facility is proposed to be made available: (i) a notice in writing specifying: (A) the Borrower or Borrowers to which extensions of credit will be made available thereunder; (B) the first Business Day on which such Ancillary Facility shall be made and the expiration date of such Ancillary Facility (which shall be no later than the Revolving Maturity Date); (C) the type of Ancillary Facility being provided; (D) the identity of the Ancillary Lender(s); and (E) the amount and currency of the Ancillary Commitment with respect to such Ancillary Facility (which shall be expressed in any currency to which such Ancillary Lenders may agree) and shall not exceed such Ancillary Lender’s Revolving Commitment; (ii) a copy of the Ancillary Facility Documents with respect to such Ancillary Facility, together with a certificate of a Responsible Officer of the applicable Borrower(s) certifying that the terms of such Ancillary Facility satisfy the requirements set forth in this Section 2.23 (including any applicable definitions used herein); and (iii) such other information that the Administrative Agent may reasonably request in connection with such Ancillary Facility. The Administrative Agent shall give notice to each Revolving Lender of such Ancillary Facility notice. (i) Subject to the terms of this Agreement, an Affiliate of any Revolving Lender (other than a Disqualified Institution) may become an Ancillary Lender, in which case such Revolving Lender and such Affiliate shall be treated as a single Revolving Lender whose Revolving Commitment is as set forth in Schedule 2.01 or in the Assignment and Assumption pursuant to which such Revolving Lender assumed its Revolving Commitment. (ii) To the extent that this Agreement or any other Loan Document imposes any obligation on any Ancillary Lender and such Ancillary Lender is an Affiliate of a Revolving Lender and not a party thereto, the relevant Revolving Lender shall ensure that such obligation is performed by such Affiliate in compliance with the terms hereof or such other Loan Document. (iii) Each Ancillary Lender, in its capacity as such, hereby appoints the Administrative Agent as its agent for purposes of the Loan Documents and for the avoidance of doubt agrees the Administrative Agent may rely on the applicable protections and indemnities set forth herein (including those set forth in Article IX) with respect to its role as agent under the Loan Documents for such Ancillary Lender. (d) The terms and conditions of any Ancillary Facility shall be as agreed by the applicable Ancillary Lenders and the applicable Borrower thereunder; provided that such terms shall at all times: (i) permit extensions of credit thereunder to be made only to the applicable Borrower; (ii) provide that the Ancillary Commitment of the applicable Ancillary Lenders under such Ancillary Facility shall not exceed such Ancillary Lender’s USD Only Revolving Commitment or USD/Multicurrency Revolving Commitment, as applicable, and that, in the event and on such occasion that such Ancillary Commitment exceeds such USD Only Revolving Commitment or USD/Multicurrency Revolving Commitment, as applicable, such Ancillary Commitment shall be automatically reduced by the amount of such excess; (iii) provide that the Ancillary Facility Exposure shall not exceed the Ancillary Commitment with respect to such Ancillary Facility and (iv) provide that the Ancillary Commitment under such Ancillary Facility shall be canceled, and that all extensions of credit under such Ancillary Facility shall be repaid, not later than the Revolving Maturity Date unless cash collateralized or supported by the issuance of a “back to back” letter of credit in a manner meeting the requirements of clause (iv) of the definition of “Date of Full Satisfaction”. (e) (i) Each Ancillary Facility shall terminate on the Revolving Maturity Date or such earlier date (A) as provided in the relevant Ancillary Facility Document or (B) on which its expiry date occurs or on which it is cancelled in accordance with the terms of this Agreement.

  • Banking Facilities Section 3.6(f) of the Company Disclosure Schedule sets forth an accurate and complete list of (i) each bank, savings and loan or similar financial institution with which the Company has an account or safety deposit box or other similar arrangement, and any numbers or other identifying codes of such accounts, safety deposit boxes or such other arrangements maintained by the Company thereat, and (ii) the names of all Persons authorized to draw on any such account or to have access to any such safety deposit box facility or such other arrangement.