Overdraft Commitment definition

Overdraft Commitment means the undertaking of the Lender to provide the overdraft loan under the relevant Overdraft Loan Agreement less any amounts of this Loan Commitment that have been cancelled, transferred or drawn and unpaid in accordance with the relevant Overdraft Loan Agreement.
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Overdraft Commitment means the obligation of the Overdraft Lender, if any, to make Overdraft Advances in an aggregate principal amount not to exceed the Overdraft Maximum Amount.
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Overdraft Commitment shall have the meaning set forth in Section 3.7.
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Examples of Overdraft Commitment in a sentence

  • The Agent shall at all times monitor the Dollar Equivalent of all outstanding Canadian Advances and UK Advances, the amount of the UK Overdraft Commitment, and the amount of the UK LC Obligations.

  • The Company shall pay to the Administrative Agent, for the account of each Lender executing this Amendment on or before May 11, 2001, an amendment fee (the "AMENDMENT FEE") equal to 25 b.p. of each such Lender's applicable (i) Commitment, in the case of Revolving Credit Commitment, European Loan Commitment or European Overdraft Commitment and (ii) outstanding Loans, in the case of Tranche A Loans and Tranche B Loans.

  • The Borrower shall not terminate, or reduce all or any portion of, the Tranche A Commitment Amount pursuant to Section 2.3 if such termination or reduction would reduce the unused portion of the Tranche A Commitment Amount to an amount less than the Overdraft Commitment then in effect, without the prior written consent of the Overdraft Bank.

  • ADVANCE Notwithstanding anything to the contrary contained herein or in any other document, Bank shall have no obligation to advance any funds to SPV in an amount greater than the lesser of (i) [*] or (ii) the sum of the aggregate Immediate Fair Market Value of cash and Investments in the Accounts (the "Overdraft Commitment").

  • Subject to the terms and conditions of this Agreement, Bank shall from time to time make advances to SPV to fund daylight overdrafts which may occur in the DDA in an aggregate principal amount at any time outstanding not to exceed the Overdraft Commitment (the "Overdraft Facility").

  • The Company shall pay to the Administrative Agent, for the account of each Lender executing this Amendment on or before October 26, 2000, an amendment fee (the "Amendment Fee") equal to 10 b.p. of each such Lender's applicable (i) Commitment, in the case of Revolving Credit Commitment, European Loan Commitment or European Overdraft Commitment and (ii) outstanding Loans, in the case of Tranche A Loans and Tranche B Loans.

  • Notwithstanding the foregoing, any amendment, modification, termination, waiver or consent with respect to any provision affecting the European Overdraft Commitment, the European Overdraft Loans or the European Overdraft Obligations shall be effective only by a written agreement signed by each Borrower and the European Overdraft Bank.

  • If Bank, in its sole discretion, funds any Overdraft Advance which exceeds the Overdraft Commitment, such Overdraft Advance shall be part of the Obligations under this Agreement and shall be secured by any collateral now or hereafter pledged to secure the Obligations.

  • Upon receipt of any notice pursuant to this subsection 2.8, the Administrative Agent shall promptly notify each Revolving Credit Lender or, in the case of a reduction in the Overdraft Commitment, the Overdraft Lender, of the contents thereof.

  • Any such reduction shall be in an amount equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof, shall reduce permanently the Revolving Credit Commitments or the Overdraft Commitment, as the case may be, then in effect, and, in the case of a reduction of the Revolving Credit Commitments, shall reduce the Lenders' Revolving Credit Commitments pro rata in accordance with their respective Revolving Credit Percentages.


More Definitions of Overdraft Commitment

Overdraft Commitment shall have the meaning specified in Section 2.1(b).
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Overdraft Commitment means, in relation to the Overdraft Bank at any time and save as otherwise provided herein, the amount set opposite its name under the heading "Overdraft Commitment" in Part 2 of the First Schedule (The Banks).
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Overdraft Commitment means the Overdraft Bank's commitment under the Overdraft Facility as the same may be reduced from time to time in accordance with the terms thereof;
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Overdraft Commitment means, subject as provided in this Agreement, the commitment of the Bank to permit the Borrower to maintain a Debit Balance on the Overdraft Account not exceeding at any time $2,850,000, upon the terms and subject to the conditions of this Agreement;
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Related to Overdraft Commitment

  • Multicurrency Commitment means, with respect to each Multicurrency Lender, the commitment of such Multicurrency Lender to make Syndicated Loans, and to acquire participations in Letters of Credit and Swingline Loans, denominated in Dollars and in Agreed Foreign Currencies hereunder, expressed as an amount representing the maximum aggregate amount of such ▇▇▇▇▇▇’s Revolving Multicurrency Credit Exposure hereunder, as such commitment may be (a) reduced or increased from time to time pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Multicurrency Commitment is set forth on Schedule 1.01(b), or in the Commitment Increase Supplement or Assignment and Assumption pursuant to which such Lender shall have assumed its Multicurrency Commitment, as applicable. The aggregate amount of the Lenders’ Multicurrency Commitments as of the Effective Date is $50,000,000.

  • Facility B Commitment refers collectively to the Facility B-1 Commitment and the Facility B-2 Commitment.

  • Canadian Revolving Commitment means, as to each Canadian Revolving Lender, its obligation to make Canadian Revolving Loans to the Canadian Borrower pursuant to Section 2.01, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Canadian Revolving Lender’s name on Schedule 2.01, in the Assignment and Assumption or other agreement pursuant to which such Canadian Revolving Lender becomes a party hereto, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Facility A Commitment means, with respect to each Facility A Lender, the commitment, if any, of such Lender to make Facility A Revolving Loans and to acquire participations in Facility A Letters of Credit, Facility A Protective Advances and Facility A Swingline Loans, expressed as an amount representing the maximum possible aggregate amount of such Lender’s Facility A Revolving Exposure hereunder, as such commitment may be reduced or increased from time to time pursuant to (a) Section 2.09 and (b) assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Facility A Commitment is set forth on the Commitment Schedule, or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Facility A Commitment, as applicable. The initial aggregate amount of the Lenders’ Facility A Commitments is $1,000,000,000.