A Borrowing Request Clause Samples
A Borrowing Request clause defines the process by which a borrower formally requests to draw funds under a loan agreement. Typically, it outlines the required information, such as the amount, date, and type of borrowing, and may specify the notice period and method of submission (for example, written notice to the lender a certain number of days in advance). This clause ensures that both parties have a clear, standardized procedure for requesting and disbursing loan funds, reducing the risk of misunderstandings or administrative errors.
A Borrowing Request. Each Borrowing and each issuance, amendment, renewal or extension of a Letter of Credit shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in paragraphs (i) and (ii) of this Section.
A Borrowing Request. All documents, instruments and agreements necessary to terminate, cancel and discharge the documents, instruments and agreements evidencing or securing any and all existing Indebtedness of the Borrower Liens securing such Indebtedness other than those listed in Schedule 6.8.