Overdraft Facility definition

Overdraft Facility or ‘Facility’ means an authorised debit balance that may be offered to you at our discretion from time to time allowing your Account to go overdrawn up to an agreed Overdraft Limit.

Overdraft Facility means an explicit credit agreement whereby a creditor makes available to a consumer funds which exceed the current balance in the consumer's current account;

Overdraft Facility means a line of credit we supply to you for working capital purposes. Separate terms and conditions will apply to an overdraft facility.

Examples of Overdraft Facility in a sentence

• In the event of the overshooting of the Overdraft Facility, the default interest set forth in the List of Terms and Conditions from time to time in effect shall be charged on the amount of the overshooting.

• The Overdraft Loan shall be drawn by the Bank automatically fulfilling against and up to the extent of the Overdraft Facility those payment orders for which the credit balance of the Bank Account fails to provide sufficient coverage.

• The Overdraft Facility Agreement shall be valid and effective only and exclusively together with the bank account agreement concerning the keeping of a transactional or payment account that constitutes the basis of the Bank Account.

• The Period of Availability of the Overdraft Facility shall end on the day preceding the date of Maturity of the Overdraft Facility Agreement.

• After the Period of Availability of an Overdraft Facility has ended, the Bank shall not provide any further Overdraft Loans to the Customer.

More Definitions of Overdraft Facility

Overdraft Facility or ‘Facility’ means an authorised debit balance that may be offered to you at our discretion from time to time allowing your Account to go overdrawn up to an agreed Overdraft Limit. ‘Overdraft Limit’ means the amount of the authorised debit balance available in connection with your Overdraft Facility.

Overdraft Facility has the meaning assigned to that term in Section 8.2(b)(xii).

Overdraft Facility means any same-day overdraft facility extended by a bank or other lending institution to STX, the Borrower or any Subsidiary.

Overdraft Facility means an amount approved by the Bank and identified in an overdraft credit facility agreement up to which the Customer has the right to draw down overdraft loans.

Overdraft Facility means an explicit credit agreement whereby a payment service provider makes available to a consumer funds which exceed the current balance in the consumer’s payment account;

Overdraft Facility means the overdraft facility made available under this Agreement as described in Clause 2.1 (The Facilities).

Overdraft Facility means the facility in the maximum amount of the Overdraft Facility Commitment to be made available to the Borrowers in accordance with Clause 2.3.2.