Overdraft Facility. In the event that the Custodian is directed by Proper Instructions to make any payment or transfer of funds on behalf of the 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 the Fund, the Custodian may, in its sole discretion, provide an overdraft (an "Overdraft") to the Fund in an amount sufficient to allow the completion of such payment. Any Overdraft provided hereunder: (a) shall be payable on the next business day, unless otherwise agreed by the Fund and the Custodian; and (b) shall accrue interest from the date of the Overdraft to the date of payment in full by the Fund at a rate agreed upon in writing, from time to time, by the Custodian and the Fund. The purpose of such Overdrafts is to temporarily finance extraordinary or emergency expenses not reasonably foreseeable by the Fund. The Custodian shall promptly notify the Fund in writing ("Overdraft Notice") of any Overdraft by facsimile transmission or in such other manner as the Fund and the Custodian may agree in writing. The Custodian shall have a right of set-off against all Assets (except for Assets held in a segregated margin account or otherwise pledged in connection with options or futures contracts held for the benefit of the Fund and for Assets allocated to any other Overdraft or loan made hereunder); provided, however, the Custodian shall promptly notify the Fund in writing of any intent to exercise a right of set-off against Assets hereunder and shall not exercise any such right of set-off against Assets hereunder unless and until the Fund has failed to pay (within ten (10) days after the Fund's receipt of such notice of intent to exercise a right of set-off), any Overdraft, together with all accrued interest thereon. Notwithstanding the provisions of any applicable law, including, without limitation, the Uniform Commercial Code, the only rights or remedies which the Custodian is entitled to with respect to Overdrafts is the right of set-off granted herein.
Overdraft Facility. (1) In cases where the amount requested for direct debit payment or withdrawals is in excess of the funds available in the account, the account is automatically overdrawn against the debenture (hereinafter referred to as “Collateral Debenture”) and the fixed term yen deposits which the Bank designates, such as Time Deposit, Premium Time Deposit, and PoweredOne (hereinafter referred to as “Collateral Deposits”. If an eligible product for collateral is added, it shall be announced by the Bank in an appropriate manner.)
(2) The overdraft facility as set forth in the preceding Paragraph is available to customers who are 20 years of age or older. However the overdraft facility service may be extended to minors, less than 20 years of age, who submit the Bank-designated letter of consent of a parental representative or any documents which prove marital status.
(3) The maximum amount of the overdraft facility set out in Item (1) (hereinafter referred to as “Overdraft Limit”) shall be the lesser of either up to 90% of the total amount of the Collateral Debentures and the Collateral Deposits (amounts less than one yen shall be rounded off.) or the Bank-designated overdraft limit posted at the Bank offices, etc.
(4) The ratio referred to in the preceding Paragraph may be subject to changes in financial market conditions, etc. In such cases, an effective date and a new ratio shall be announced by posting at the Bank offices, etc. In cases where an overdrawn amount exceeds the updated Overdraft Limit, you will be requested that the Collateral Debentures or the Collateral deposits be laid in pledge to secure the exceeded amount; or the overdrawn amount exceeding the new Overdraft Limit be paid immediately upon request of the Bank.
(5) If the account remains overdrawn as set forth in Paragraph (1), the fund deposited or transferred to a savings account (the amounts of Instruments accepted shall be excluded from such balance until they are settled.) shall be automatically allocated to repay the overdrawn amount.
(6) When terminating the overdraft service set forth in Paragraph (1), funds should be deposited into a savings account to settle the overdrawn amount and the call center (to which you will be connected via the telephone number designated by the Bank as “Shinsei PowerCall.”) should be contacted .
Overdraft Facility. Notwithstanding any Proper or Special Instructions, the Custodian shall not make any payment or transfer of funds on behalf of the 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.
Overdraft Facility. An amendment to the documentation evidencing the Overdraft Facility, in form and substance acceptable to Administrative Agent.
Overdraft Facility. An overdraft facility may be used; - to withdraw funds on current account; - to enter into non-cash contingent liabilities with a maximum term of one year, unless agreed otherwise, such as those arising from the issuance of guarantees, the issuance of letters of credit and the discounting of bills; and - in any other manner stated in the Credit Agreement.
Overdraft Facility. An overdraft facility may be used to borrow money on current account, and if agreed explicitly, to enter into contingent liabilities with a maximum term of one year, such as those arising from the issuance of guarantees, the issuance of letters of credit, the discounting of bills and any other purposes stated in the Credit Agreement.
Overdraft Facility. (1) In cases where the amount requested for direct debit payment or withdrawals is in excess of the funds available in the account, the account is automatically overdrawn against the debenture (hereinafter referred to as “Collateral Debenture”) and the fixed term yen deposits which the Bank designates, such as Time Deposit, Premium Time Deposit, and PoweredOne (hereinafter referred to as “Collateral Deposits”. If an eligible product for collateral is added, it shall be announced by the Bank in an appropriate manner.)
(2) The overdraft facility as set forth in the preceding Paragraph is available to customers who are 20 years of age or older. However the overdraft facility service may be extended to minors, less than 20 years of age, who submit the Bank-designated letter of consent of a parental representative or any documents which prove marital status.
Overdraft Facility. 24 3. REPAYMENT OF THE REVOLVING CREDIT LOANS. .......................................................26 3.1. Maturity. ...........................................................................26 3.2. Mandatory Repayments of Revolving Credit Loans. .....................................27 3.3. Optional Repayments of Revolving Credit Loans. ......................................27 4.
Overdraft Facility. Bank shall open an Overdraft Account for the OD Facility as from the execution of the Agreement and the said account will be operated from time to time by the Borrower or on prior approval by the Bank, by any person directed in writing by the Borrower.
Overdraft Facility. The rate of interest on the amounts outstanding under the Overdraft Facility shall be the percentage rate per annum which is the aggregate of:
