Overadvance definition

Overadvance has the meaning set forth in Section 2.5.

Overadvance is defined in Section 2.2.

Overadvance has the meaning assigned to such term in Section 2.05(b).

Examples of Overadvance in a sentence

• Without limiting Borrower’s obligation to repay Bank any Overadvance, Borrower shall pay Bank interest on the outstanding amount of any Overadvance, on demand, at a rate per annum equal to the rate that is otherwise applicable to Advances plus five percent (5.0%).

• Overadvance Loans may be required even if the conditions set forth in Section 5.02 have not been satisfied.

• Required Lenders may at any time prospectively revoke the Administrative Agent’s authority to make further Overadvance Loans to any or all Borrowers by written notice delivered to the Administrative Agent.

• All Overadvance Loans shall constitute Obligations secured by the Collateral and shall be entitled to all benefits of the Loan Documents.

• Any funding of an Overadvance Loan or sufferance of an Overadvance shall not constitute a waiver by the Administrative Agent or Lenders of the 72 [Matrix] Credit Agreement #85638137 Event of Default caused thereby.

More Definitions of Overadvance

Overadvance means a Credit Extension to the extent that, immediately after its having been made, Availability is less than zero.

Overadvance means, as of any date of determination, that the Revolver Usage is greater than any of the limitations set forth in Section 2.1 or Section 2.11 of this Agreement.

Overadvance has the meaning ascribed to it in Section 1.1(a)(iii).

Overadvance has the meaning specified therefor in Section 2.5 of the Agreement.

Overadvance is defined in Section 2.4.

Overadvance means a U.S. Overadvance and/or a Canadian Overadvance, as the context may require.

Overadvance has the meaning specified in Section 2.01(c).