Default Limit definition

Default Limit means the daily limit set for usage on the Card, for Cash Withdrawal or purchase of goods and services, subject to availability of funds in the Customer’s Account. The set default limit on the Card may be changed at any time by the Bank.
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Default Limit is initially (Pounds)4,000,000 outstanding any one time and will be adjusted in accordance with Schedule 2 of the Transmission Agreement. The Agent may rely on a certificate of the Borrower as to the prevailing default limit.
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Default Limit has the meaning given in clause 7.4
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Examples of Default Limit in a sentence

  • The standard Limit Order is a Good ‘til cancelled Limit Order, and will therefore remain on the Spot Order Book until you cancel it ("Default Limit Order").

  • The Sections titled Client Information and Contacts, Fees and Reimbursement Amounts, Software, Client Online Account, Client Default, Limit of Liability, Indemnification, Client Confidential Information, Third-Party Services, Governing Law and Arbitration, Notices, Telephone Consumer Protection Act (TCPA) Consent, Entire Agreement, Severability, and No Third-Party Beneficiaries, will survive the termination of this Agreement.


More Definitions of Default Limit

Default Limit means the daily limit set for usage on the Card, for Cash Withdrawal or purchase of goods and services, subject to availability of funds in the Customer’s Account.
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Default Limit means the daily limit set for usage on the Card, for Cash Withdrawal or
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Related to Default Limit

  • default value means a value derived from a typical value by the application of pre-determined factors and that may, in circumstances specified in this Directive, be used in place of an actual value;’;

  • Default Loan has the meaning set forth in Section 3.02(b).

  • cross-default obligation means a term of any agreement or arrangement whereby the Appointee's liability to pay or repay any debt or other sum arises or is increased or accelerated by reason of a default of any person other than the Appointee.

  • Default Under First Lien With respect to each Second Lien Loan, the related First Lien Loan related thereto is in full force and effect, and there is no default, breach, violation or event which would permit acceleration existing under such first Mortgage or Mortgage Note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration thereunder;

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.