Overdraft Line of Credit Sample Clauses

An Overdraft Line of Credit clause establishes a pre-approved borrowing facility that allows an account holder to withdraw more funds than are available in their account, up to a specified limit. This clause typically outlines the maximum overdraft amount, applicable interest rates, repayment terms, and any associated fees. By providing immediate access to additional funds when needed, it helps account holders manage short-term cash flow shortages and avoid declined transactions or returned payments.
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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 FINANCE CHARGES (OVERDRAFT LINE OF CREDIT). A Finance Charge will be HOW TO DETERMINE THE FINANCE CHARGE (OVERDRAFT LINE OF CREDIT).
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Overdraft Line of Credit. Amounts under that certain Overdraft Line of Credit between Bank of Montreal and ▇▇▇▇▇▇▇ Foods of Canada Corp. in an aggregate principal amount not to exceed $20,000,000.
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Overdraft Line of Credit. This service requires you to complete an application and approval is based on your credit worthiness.
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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 a. Treated as Cash Advances – Overdraft Protection Transfers will be treated as a Cash Advance on your Visa Account under this Agreement and will be subject to all terms and conditions applicable to Cash Advances under this Agreement, including the assessment of interest charges and fees. If an Overdraft Protection Transfer would result in the balance of your Visa Account exceeding your Credit Limit, DCU may elect not process the Overdraft Protection Transfer. b. How to activate Overdraft Line of Credit (Overdraft Protection) – You may elect to use your Visa Account for the Overdraft Line of Credit (Overdraft Protection) feature by completing the necessary form either when applying for your Visa Account or after your Visa Account is already open. To request a copy of the necessary form, please contact us using the contact information in the Contact Us section of this Agreement.
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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.
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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:
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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.
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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
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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 (a) The Bank hereby establishes in favor of the Borrower a revolving line of credit (the “Line of Credit”). The Borrower shall be entitled to borrow, repay and reborrow funds under the Line of Credit in accordance with the terms hereof so long as the total principal amount owed to the Bank under the Line of Credit does not exceed $25,000,000.00 (or such lesser amount as is set forth herein) during the Revolving Period. The Bank’s obligation to make advances hereunder shall terminate at the expiration of the Revolving Period. (b) The Borrower’s indebtedness under the Line of Credit shall be evidenced by a promissory note (as amended, extended or renewed from time to time, the “Line of Credit Note”) of even date herewith executed by the Borrower in favor of the Bank in the original principal amount of $25,000,000.00. The Line of Credit Note shall bear interest at the rate set forth therein and shall be payable as set forth therein. (c) The Bank shall make each advance under the Line of Credit upon written or telephonic notice from the Borrower to the Bank requesting an advance. The notice shall specify the date for which the advance is requested (which must be a Business Day) and the amount of the advance. The Bank must receive the notice prior to 12:00 noon (Eastern time) on the Business Day of the advance. Alternatively, the Borrower may request advances by drawing checks on a deposit account that is linked to the credit facility hereunder in accordance with disbursement arrangements that are mutually satisfactory to the parties. The Bank will make each requested advance available to the Borrower not later than the close of business on the Business Day of the request by crediting the Borrower’s account maintained with the Bank in the amount of the advance if as of such time: (i) the Bank’s obligation to make advances hereunder has not terminated or expired; (ii) a Default or Event of Default has not occurred; and (iii) all conditions to the advance set forth herein or in any other Loan Documents have been satisfied. The Bank may rely upon any written or telephonic notice given by any person that the Bank in good faith believes is an authorized representative of the Borrower without the necessity of any independent investigation. If any telephonic notice conflicts with a written confirmation, the telephonic notice shall govern if the Bank has acted in reliance thereon. (d) For purposes hereof, the term “Revolving Period” shall mean a period commencing on the date hereof and terminating on March 18, 2007.

  • 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 Borrower. The amount of the line of credit (the “Facility No. 1 Commitment”) is Five Million and 00/100 Dollars ($5,000,000.00). (b) This is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them. (c) The Borrower agrees not to permit the principal balance outstanding to exceed the Facility No. 1

  • 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.