Time specific for a problem & Global time limit

Guys,

A doubt:

There is a "time limit" for each problem.

There is a "time limit overshoot" in Configuration Settings.

Does it mean that if we set the "time limit overshoot" as more than the maximum time limit for one of the problems in the contest, it will affect the others with the lower time limit?

For example:

Contest 1 has 5 problems

4 problems have 1 sec time limit. Rest 4 has 4 sec time limit. And let us say one of the submissions for 1 sec problem set goes into infinite loop. Will the problem exit as per 1 sec time limit for that problem or will I wait for the 4 sec global "time limit overshoot"?