Overdraft Amount definition
Examples of Overdraft Amount in a sentence
On the day such Multicurrency Revolving Loans are made, Administrative Agent’s Multicurrency Revolver Pro Rata Share of the Domestic Overdraft Amount being refunded shall be deemed to be paid with the proceeds of a Multicurrency Revolving Loan made by Administrative Agent and such portion of the Domestic Overdraft Amount deemed to be so paid shall no longer be outstanding.
Notwithstanding the foregoing, at no time shall the Total Overdraft Usage exceed the Maximum Overdraft Amount.
Notwithstanding anything in this Agreement or implied by law to the contrary, the agreements of Company and each Borrower set forth in subsections 2.6E, 2.7, 10.3, 10.4 and 10.21 and the agreements of Lenders set forth in subsections 8.2C, 8.4, 10.5, 10.6 and 10.20 shall survive the payment of the Loans, the Notes, the Offshore Overdraft Amounts and the Domestic Overdraft Amount, the cancellation or expiration of the Letters of Credit and the termination of this Agreement.
Bank may, at its option, request Multicurrency Revolving Lenders to make Multicurrency Revolving Loans as provided in subsection 2.1(d) of the Credit Agreement and apply the proceeds of such Multicurrency Revolving Loans to effect payment of the Domestic Overdraft Amount as set forth above.
The proceeds of such Revolving Loans shall be immediately delivered to Administrative Agent (and not to any Domestic Borrower or any other Loan Party) and applied to repay the Domestic Overdraft Amount.