Daylight Overdraft Loan definition

Daylight Overdraft Loan as defined in Section 2.2(a).
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Daylight Overdraft Loan any discretionary loan made by the Daylight Overdraft Bank pursuant to Section 2.3 of this Agreement.
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Examples of Daylight Overdraft Loan in a sentence

  • Each Approving Daylight Overdraft Lender shall promptly transfer to the Daylight Overdraft Lender, in immediately available funds, the amount of its Daylight Overdraft Participation Amount and upon receipt thereof the Daylight Overdraft Lender shall deliver to such Lender a Daylight Overdraft Loan participation certificate, in a form specified by the Daylight Overdraft Lender, dated the date of receipt of the Daylight Overdraft Participation Amount and in such amount.

  • Subject to Section 2.6, each Daylight Overdraft Loan shall mature at 4:30 p.m. (New York City time), on the Borrowing Date therefor or such later time agreed by the Daylight Overdraft Lender in its sole discretion, such later time not to be later than 10:00 a.m. (New York City time) on the next Business Day following the Borrowing Date therefor.

  • Each Lender shall promptly transfer to the Daylight Overdraft Lender, in immediately available funds, the amount of its Daylight Overdraft Participation Amount and upon receipt thereof the Daylight Overdraft Lender shall deliver to such Lender a Daylight Overdraft Loan participation certificate, in a form specified by the Daylight Overdraft Lender, dated the date of receipt of the Daylight Overdraft Participation Amount and in such amount.

  • The Administrative Agent shall have received a Borrowing Notice pursuant to Section 2.4 or Letter of Credit Request pursuant to Section 3.2, except in the case of a Daylight Overdraft Loan, the Daylight Overdraft Lender shall have received a request pursuant to Section 2.4(b).

  • Subject to Section 2.6, each Daylight Overdraft Loan shall mature at 4:00 p.m. (New York City time), on the Borrowing Date therefor.

  • Each Daylight Overdraft Loan will be made available on the Borrowing Date to the applicable Borrower by the Daylight Overdraft Lender by crediting the amount of such Daylight Overdraft Loan to the account of such Borrower set forth on Schedule 2.2(B), such account to be held at the Daylight Overdraft Lender.

  • All payments made by the Borrowers on account of Daylight Overdraft Loans shall be made without set-off or counterclaim and shall be made prior to 3:00 p.m. (New York City time) on the Borrowing Date of such Daylight Overdraft Loan to the Administrative Agent for the account of the Daylight Overdraft Lender at the Administrative Agent’s office specified in Section 11.2 in immediately available funds.

  • Such fee shall be nonrefundable and shall be payable when the applicable Daylight Overdraft Loan is due and payable pursuant to Section 2.7.

  • During the Commitment Period, the Borrower may use the Daylight Overdraft Loan Sub-Limit by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof.

  • The making of a Daylight Overdraft Loan by the Daylight Overdraft Lender shall be deemed to constitute a representation by the Borrowers and the Borrowers’ Agent that the conditions contained in Section 6.2(b), (c), (d) and (e) have been satisfied, and the making of any Daylight Overdraft Loan shall not constitute a waiver of the failure of any condition in Section 6.2(b), (c), (d) and (e) to be satisfied or any other Default or Event of Default.

Related to Daylight Overdraft Loan

  • Swingline Facility means the swingline facility established pursuant to Section 2.2.

  • Revolving Line Maturity Date is that date which is two (2) years following the Effective Date.

  • Swingline Loan Note a promissory note in the form of Exhibit H-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Swing Loan Maturity Date means, with respect to any Swing Loan, the earlier of (i) the last day of the period for such Swing Loan as established by the Swing Line Lender and agreed to by the Borrower, which shall be less than 15 days, and (ii) the Revolving Facility Termination Date.

  • Swingline Maturity Date means, with respect to any Swingline Loan, the date that is five Business Days prior to the Revolving Credit Maturity Date.

  • Swing Line Facility means the revolving credit facility made available by the Swing Line Lender pursuant to Section 2.04.

  • Swingline Rate means, for any Interest Period, the rate as offered by the Administrative Agent and accepted by the Borrower. The Borrower is under no obligation to accept this rate and the Administrative Agent is under no obligation to provide it.

  • Revolving Loan Maturity Date means the earliest to occur of (i) the Maturity Date and (ii) the date on which the Revolving Loans become due and payable in accordance with Section 10.02.

  • Swing Loan Note means the Swing Loan Note of the Borrower in the form of Exhibit 1.1(S) evidencing the Swing Loans, together with all amendments, extensions, renewals, replacements, refinancings or refundings thereof in whole or in part.

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Revolving Facility Maturity Date means, as the context may require, (a) with respect to the Revolving Facility in effect on the Closing Date, the fifth anniversary of the Closing Date and (b) with respect to any other Classes of Revolving Facility Commitments, the maturity dates specified therefor in the applicable Extension Amendment or Refinancing Amendment.

  • Canadian Swingline Loan means a Swingline Loan made to the Canadian Borrower.

  • Canadian Swingline Lender means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as lender of Canadian Swingline Loans hereunder.

  • Revolving Credit Loan has the meaning specified in Section 2.01(b).

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Swing Line means the revolving credit facility made available by the Swing Line Lender pursuant to Section 2.04.

  • Swing Line Rate means an interest rate per annum offered by the Swing Line Lender with respect to the Swing Line Loans, as determined in its sole discretion, but in any event not in excess of the rate applicable to Base Rate Loans at the time of determination.

  • Revolving Credit Maturity Date means the date that is six years after the Closing Date, or, if such date is not a Business Day, the next preceding Business Day.

  • Facility B means the term loan facility made available under this Agreement as described in paragraph (b) of Clause 2.1 (The Facilities).

  • Revolving Credit Loans as defined in Section 2.1.

  • Swing Line Note means the promissory note of the Borrowers substantially in the form of Exhibit C-2, payable to the order of the Swing Line Lender, evidencing the Swing Line Loans made by the Swing Line Lender.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Swingline Note means a promissory note made by the Borrower in favor of the Swingline Lender evidencing the Swingline Loans made by the Swingline Lender, substantially in the form attached as Exhibit A-2, and any amendments, supplements and modifications thereto, any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part.

  • Swing Line Advance means an advance made by (a) the Swing Line Bank pursuant to Section 2.01(c) or (b) any Lender pursuant to Section 2.02(b).

  • U.S. Swingline Lender means JPMorgan Chase Bank, N.A., in its capacity as lender of U.S. Swingline Loans hereunder.