Maximum overall loss: 10% of the account balance. 

No account balance or account equity of the funded Trader may drop to or below 10% of the account balance at the beginning of the Phase at any point during The Funded Trader Program. The Max Drawdown Rule is the name for this. 
 
As an illustration, if a trader purchases an account for $10,000, neither their equity nor their balance can ever fall to or below $9,000.