Overdraws Sample Clauses

Overdraws. Where an employee at the beginning of a fiscal year is overdrawn on sick leave, one-half (1/2) of the current year's entitlement (or the amount of the overdraw, whichever is the lesser), shall be applied against the overdrawn amount and the balance shall be available for use during the current year. If any of such balance remains to the employee's credit at the end of the year, it shall also be applied against any remaining overdrawn sick leave.
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Overdraws. If at any time the Revolving Credit Outstandings exceed the sum of the Revolver Commitments, the Borrowers shall immediately pay to the Agent, for the account of the Lenders, the amount of such excess, which excess shall be first applied to any unpaid LC Draw Obligations or, if a Default then exists and is continuing, applied at the Required Lenders' sole and absolute discretion.
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Overdraws. If, for any reason, (A) during the Interim Availability Period, the outstanding amount of the Loan (net of interest accrued for the then-current month) exceeds the Interim Availability Amount; or (B) at any other time prior to the Termination Date, the outstanding amount of the Loan (net of interest accrued for the then-current month) exceeds the Aggregate Commitment, then the WV-Debtors-in- Possession shall immediately repay an amount equal to such excess.
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Related to Overdraws

  • 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."

  • Overdrafts The Trust is responsible for maintaining an appropriate level of short term cash investments to accommodate cash outflows. The Trust may obtain a formal line of credit for potential overdrafts of its custody account. In the event of an overdraft or in the event the line of credit is insufficient to cover an overdraft, the overdraft amount or the overdraft amount that exceeds the line of credit will be charged in accordance with the fee schedule set forth on Exhibit C hereto (as amended from time to time)

  • Deposits There will be two types of Deposits: Full and Differential. For both types, the universe of Registry objects to be considered for data escrow are those objects necessary in order to offer all of the approved Registry Services.

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