Facility Limit. 7.1 The Bank shall assign a Facility Limit to the Card-i Account. Where a Cardholder operates two or more card-i, the Bank may assign separate Facility Limit (sub-limit) to each Card-i which differs from the Facility Limit (sub-limit) assigned to the Organisation and/or Cardholder under Clause 2.1.
7.2 Where the Organisation operates two or more Card-i with BSN, a combined Facility Limit will be assigned to all Card Accounts representing the overall facility limit granted to cover the use of all Cards held by the Cardholder.
7.3 The Organisation and/or Cardholder hereby undertake to observe the Facility Limit and not to cause the aggregate sum of his obligations under the Card-i Account at any Billing Period to exceed his Facility Limit. In this respect, it is expressly agreed by the Organisation and/or Cardholder that the Bank shall be under no duty or obligation whatsoever to ensure that the Organisation and/or Cardholder’s Facility Limit is not exceeded.
7.4 The Organisation and/or Cardholder shall not exceed the Facility Limit and shall make good any excess thereof immediately upon receipt of the Statement and/or to such other notices by BSN showing such excess. The Organisation and/or Cardholder further undertake not to affect any purchases or transactions within or outside Malaysia which may cause the Facility Limit to be exceeded in aggregate.
7.5 Where Supplementary Card(s) have been issued, and where a prescribed Facility Limit is assigned and is made known to the Supplementary Cardholder, such prescribed Facility Limit shall constitute the Facility Limit common to and shared by all the aforementioned Cards in aggregate.
7.6 BSN shall obtain the Organisation’s acceptance before any increase in Facility Limit. Notwithstanding the aforesaid, BSN reserves its right to reduce the Facility Limit at any time due to the Organisation’s poor credit performance and/or difficulty in meeting repayments and/or any other circumstances that BSN deems fit.
7.7 Notwithstanding the aforesaid, the Organisation shall remain and be liable for all Cardholder’s liabilities including but not limited to all purchases, and transactions exceeding such Facility Limit. In amplification and not in derogation of the aforesaid, BSN is not duty bound in any way whatsoever to ensure that the Facility Limit is not exceeded by the Cardholder.
7.8 The Cardholder shall not be entitled under any circumstances to demand that the prescribed Facility Limit or the unutilised Facility Limit...
Facility Limit. On the date of and after giving effect to any issuance of Letters of Credit to be made on such date, the Aggregate Revolving Credit Exposure shall not exceed the Facility Limit.
Facility Limit. 1.1 Party A grants Party B a facility limit of Renminbi fifty million only (including the amount equivalent in other currencies, where “the exchange rates applied will be the rates published by Party A at the time each specific service is provided, the same applies hereinafter), which is (please select with “ü”) [ü] revolving facility of Renminbi fifty million only; [ ] one-off facility of . Revolving facility limit means the maximum limitation of the sum of principal balances of credit facilities Party A offers to Party B like continuous, revolving loans, trade financing, discounting bills of exchange, commercial xxxx acceptance, letters of guarantee, legal person account overdraws, domestic factoring etc. One-off credit facility is the amount specified herein which cannot be exceeded during the term of facility by the accumulated amount of all cases of credit granting Party B applies for with Party A case by case. Party B shall not revolve the one-off facility. The amounts corresponding to a number of cases of credit granting applied for by Party B will use the one-off facility until the credit line is reached. “Trade Financing” includes such services as issuance of letter of credit, import xxxx advance, delivery against bank guarantee, import collection xxxx advance, packing loan, export xxxx purchase, export collection xxxx purchase, import/export remittance financing, short-term credit insurance financing, import factoring, export factoring (two-factor non-recourse factoring except that in Party A’s system, the same applies hereinafter) etc.
1.2 If Party A operates in import factoring, domestic non-recourse factoring where Party B is the payer, the creditor’s rights of receivables from Party B that is assigned to Party A shall use the above facility; if Party B applies for domestic factoring or export factoring services with recourse with Party A, the basic purchase fund (basic factoring fund) shall use the above facility.
1.3 Where after issuing a letter of credit, Party A authorizes other China Merchants Bank branches to issue letters of credit to beneficiaries for the requirement of its internal process, the issuance of such L/C and the import xxxx advance and delivery against bank guarantee there under shall use the above facility;
1.4 The above facility shall not include the portion of facility amount corresponding to the guarantee deposit or deposit certificate hypothecation provided by Party B or the third party for a particular service only un...
Facility Limit. We will give you notice of your Facility Limit and we may change it at any time. We will give you notice of any change to your Facility Limit.
Facility Limit. Interest on the Advances will not be capitalised if this would cause the amount of the Loan to exceed the Total Facilities Amount. Accordingly, if on any Interest Capitalisation Date as a result of the application of Clause 4.4 and of Clause 5.2 the aggregate amount of all Advances exceeds (or, if an Interest Capitalisation Advance were made or deemed to be made pursuant to Clause 4.4 the aggregate of all Advances would exceed) the Total Facilities Amount the Borrower shall pay to the Facility Agent for the account of the Lenders by way of a payment of interest the amount of interest which would otherwise have been capitalised by means of such Interest Capitalisation Advance.
Facility Limit. The total amount of debt outstanding at any time shall be the aggregate of all borrowings approved by the Corporation in respect of each product specified in the Annexes to this Agreement in accordance with the application process set out in clause 7 of this Agreement, less any amounts that have been cancelled under clause 3.1 or repaid under Products that do not incorporate a capacity to redraw. 5.
Facility Limit the Facility Limit for the Facility is not, and will not be, exceeded by the provision of that Funding Portion when the Original Dollar Amount of that proposed Funding Portion is added to the Current Dollar Amount of all other outstanding Funding Portions under that Facility;
Facility Limit. 2.3.1 As of the Closing Date, the aggregate maximum amount of the Facility is US$1,500,000,000. The aggregate of the principal amount of Advances of each Lender outstanding at any time shall not exceed its Commitment;
2.3.2 Where under the terms hereof, the Facility is cancelled, reduced or terminated, same may not subsequently be increased, any such cancellation, reduction or termination thereof being permanent. Unless otherwise expressly provided under the terms hereof, any reduction of the Facility shall be apportioned as among the Commitments of the Lenders under the Facility on a Rateable Share basis;
2.3.3 The Borrower may not draw upon the Facility at any time to the extent that, after giving effect to such Drawdown, the Available Facility is not at least equal to the Xxxxx’x Notes Amount at such time (after giving effect to any repayment from the proceeds of such Drawdown), provided, however, that notwithstanding the foregoing, the Borrower may draw upon the Facility an amount equal to the lesser of the Xxxxx’x Notes Amount and the Available Facility, at any time within 15 Business Days before the end of the Commitment Period, but only to use the proceeds from such Drawdown to repay a portion of the Existing Credit Facilities. ACT and the Borrower covenant and agree that an amount equal to the Xxxxx’x Notes Amount will remain available under the Existing Credit Facilities until the Xxxxx’x Notes Amount has been paid in full or the Xxxxx’x Notes have been exchanged for Subordinated Debt.
Facility Limit. 6.1 The Bank shall at its sole discretion specify the Cardmember’s Facility Limit with the Bank for the purposes of this Agreement.
6.2 Where the Cardmember operates two or more Card accounts with the Bank, a combined Facility Limit will be assigned to the Cardmember representing the total facility limit extended to cover the use of all the Cards held by the Cardmember and his/her Supplementary Cardmember, if any.
6.3 The Cardmember hereby covenants that he/she shall not exceed his/her Facility Limit in using the Card and shall make good any excess thereof immediately upon receipt of the monthly statement of account and/or to such other notices by the Bank showing such excess in accordance with Clause 7.1 (b) (ii).
Facility Limit. The Initial Facility Limit or on any date after the first Payment Date, the Facility Limit shall mean the aggregate outstanding Capital on such date, after giving effect to all payments in respect of principal on or prior to such date.
