Overdraft. In the event that the Custodian is directed by Proper Instructions to make any payment or transfer of funds on behalf of a 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 such Fund, the Custodian may, in its discretion, provide an overdraft ("Overdraft") to the Fund (such Fund being referred to herein as an "Overdraft Fund"), in an amount sufficient to allow the completion of such payment or transfer. Any Overdraft provided hereunder: (a) shall be payable on the next Business Day, unless otherwise agreed by the Overdraft Fund and the Custodian; and (b) shall accrue interest from the date of the Overdraft to the date of payment in full by the Overdraft Fund at a rate agreed upon in writing, from time to time, by the Custodian and the Overdraft Fund. The Custodian and the Funds acknowledge that the purpose of such Overdrafts is to temporarily finance the purchase or sale of securities for prompt delivery in accordance with the terms hereof. The Custodian hereby agrees to notify each Overdraft Fund by 3:00 p.m., New York time, of the amount of any Overdraft. Provided that Custodian has given the notice required by this subparagraph (f), the Funds hereby agree that, as security for the Overdraft of an Overdraft Fund, the Custodian shall have a continuing lien and security interest in and to all interest of such Overdraft Fund in Securities whose purchase is financed by Custodian and which are in Custodian's possession or in the possession or control of any third party acting on Custodian's behalf and the proceeds thereof. In this regard, Custodian shall be entitled to all the rights and remedies of a pledgee under common law and a secured party under the New York Uniform Commercial Code and any other applicable laws or regulations as then in effect."
Overdraft under the Agreement and relevant overdraft agreement and in accordance with conditions thereof, overdraft (limit) is a maximum limit of amount of debit balance allowed by the Bank on the Customer’s Account for the short period of time which enables the Customer to utilize repeatedly funds within the debit balance in excess of the amount deposited at his/her/its Account (including with the purpose of full or partial refinancing of utilized Credit Amount), and the accrued debt shall in the first place be automatically covered from the amount entered to the Account. Furthermore, the Parties acknowledge and agree that: (a) when using the Credit Amount, for the purpose of calculating the volume of the Credit Amount to be utilized within the maximum limit, the volume/portion of the Credit Amount utilized by the Customer under the relevant overdraft agreement and already fulfilled against the Bank shall not be taken into consideration; (b) when refinancing utilized Credit Amount fully or partially, the liability to be refinanced shall not be taken into account in the course of calculating maximum limit envisaged by the relevant overdraft agreement, and (c) in case the Overdraft is approved in one currency and the relevant Credit Amount or part thereof are issued/supplied in another currency, then the conditions of Sub-paragraph 3.5.2 of the Annex No. 1 shall apply.
Overdraft. This is a negative Available Balance in your Account. An Overdraft occurs when your Available Balance is not enough to cover an Item presented against your Account, but we pay it anyway. Returned Item: A check, electronic payment or other Item that is returned unpaid by the Bank because the Available Balance in your Account is less than the amount of the Item.
Overdraft. In the event that User’s sales Card Transactions after chargebacks, refunds, fees, and settlement payments for any given fiscal day are less than zero ($0), User will be responsible for overdraft fees as set forth on the attached fee schedules or User Application. Autobooks and Bank may reject any Card Transaction, refund, or chargeback that will cause an overdraft. In addition, Autobooks reserves the right to: (a) require User to make a wire transfer to Autobooks within one (1) business day of notice; (b) collect under any guaranty;
Overdraft. The member will not overdraw any account except if enrolled in the overdraft protection service described in Section G below (“Overdraft Protection”). Any unauthorized overdrafts will bear interest at the rates established by Servus Credit Union from time to time, calculated on the daily outstanding balance and compounded monthly. Any unauthorized overdrafts and interest thereon are payable on demand.
Overdraft under the Agreement and in accordance with conditions thereof, overdraft (limit) is a maximum limit of amount of debit balance allowed by the Bank on the Customer’s Account for the short period of time which enables the Customer to utilize repeatedly funds within the debit balance in excess of the amount deposited at his/her/its Account (including with the purpose of full or partial refinancing of utilized Credit Amount), and the accrued debt shall in the first place be automatically covered from the amount entered to the Account. Furthermore, the Parties acknowledge and agree that: (a) when using the Credit Amount, for the purpose of calculating the volume of the Credit Amount to be utilized within the maximum limit, the volume/portion of the Credit Amount utilized by the Customer under the Agreement and already fulfilled against the Bank shall not be taken into consideration; (b) when refinancing utilized Credit Amount fully or partially, the liability to be refinanced shall not be taken into account in the course of calculating maximum limit envisaged by the Agreement, and (c) in case the Overdraft is approved in one currency and the relevant Credit Amount or part thereof are issued/supplied in another currency, then the conditions of Sub-paragraph 3.5.2 of the Annex No. 1 shall apply.
Overdraft. You agree not to use or attempt to use the Service to overdraw any Service Account, to exceed your limit on any credit account, or to engage in any transaction that is not specifically authorized and permitted. Such use or attempted use may result in the immediate cancellation of the Service and the Service Accounts, and may expose you to possible legal action. We may honor instructions to initiate transactions on the same business day (whether received through the Service, ATM or point-of-sale (POS) terminals, checks or other means) in any order we determine, even if honoring a particular item or instruction results in an insufficient balance in the Service Account to honor other instructions that otherwise could have been honored. If there are insufficient funds in the Service Account to complete the transaction you have initiated, we may either refuse to honor the request or complete the transaction and thereby overdraw the Service Account in our discretion. In either event, you are responsible for any insufficient funds or overdraft charges that we may impose, subject to the requirements of applicable law.
Overdraft. You will not overdraw any Account unless it is allowed by the Overdraft Protection service provided by Libro. This service must be applied for by the Owner, and upon Libro’s approval, the terms must be accepted by the Owner in the Overdraft Protection Agreement on Xxxxx.xx/xxxxx/xxxxxxxxx-xxxxxxxxx. Any unauthorized overdrafts will bear interest at the rate established by Libro in your signed Promissory Note which is calculated on the daily outstanding balance and compounded monthly. Any unauthorized overdrafts and interest thereon are payable on demand. Night Deposit Service At your request, and if Libro agrees, we can offer a night deposit service, where we will accept for deposit monies or instruments acceptable to Libro. You will place the deposit monies or instruments in a sealed envelope or deposit bag and place it in the night depository. Libro staff are authorized, in dual, to open the deposit and remove the contents. The deposit must contain an itemized deposit slip showing its contents and the depositor must retain a duplicate itemized deposit slip. Libro will arrange for any deposits made by night deposit service to be deposited to your Account in a reasonable period of time after such deposit was made by you to devices designated for night deposits. No interest shall accrue on any deposit made through the night deposit service until it has been credited to your Account with all valid and verified deposits. The use of the night depository shall be at the sole risk of the Owner. Libro shall not be responsible or liable for any property placed in the depository, the loss of such property, costs, claims, nor any injury, loss or damage suffered by the Owner, or anyone attending on behalf of the Owner, in connection with using the depository, or while on Libro premises for the purpose of using the depository. Non-Registered Term Deposits This Service Agreement only deals in part with Non-Registered Term Deposits made. Other terms and conditions accepted by you at the time the Non-Registered Term Deposit or funds were deposited also apply. You may withdraw all or part of a Non-Registered Term Deposit prior to the maturity date if the terms and conditions agreed to at the time the funds for the Non-registered Term Deposit are deposited permit it. Certain Non-Registered Term Deposits do not allow you to withdraw funds prior to maturity and a penalty for making an early withdrawal may apply. By purchasing the Non-Registered Xxxx Xxxxxxx, you agree to be ...
Overdraft. You understand that we may, at our discretion, honor withdrawal requests that overdraw your account. Whether the item is paid or returned, your account may be subject to a charge as set forth in the Fee Schedule. Except as otherwise agreed in writing, we, by covering one or any overdraft, do not agree to cover overdrafts in the future and may discontinue covering overdrafts at any time without notice. If we pay an item or impose a fee that would otherwise overdraw your account, you agree to pay the overdrawn amount immediately. We reserve the right to pursue collection of previously dishonored items at any time. If on any day, the funds in your account(s) are not sufficient to cover checks, fees or other items posted to your account(s), those amounts will be handled in accordance with our overdraft procedures or by one or multiple of the overdraft protection plans outlined below.
Overdraft when an Account has insufficient or unavailable funds in the Account to cover transactions posted to the Account.
