Overdraft and/or Term Loan Facility definition
Overdraft and/or Term Loan Facility means the amount of the Overdraft and/or Term Loan Facility provided by the Bank to the Borrower and/or the Co-Borrower/s pursuant to this Overdraft and/or Term Loan Facility Agreement, which may include either Drop Down Overdraft and/or Term Loan Facility wherein the amount of facility shall be reduced every year or Constant Overdraft and/or Term Loan Facility wherein the amount of facility shall remain constant till the end of the tenure of this agreement unless changed by the Bank as agreed in this agreement.
Examples of Overdraft and/or Term Loan Facility in a sentence
The Bank’s decision with regard to whether there has been non-utilization or, as the case may be, limited utilization of the Overdraft and/or Term Loan Facility shall be final and binding on the Borrower and/or the Co-Borrower/s and/or the Guarantor/s.