Common use of Advance of Loans Clause in Contracts

Advance of Loans. (a) The Facility Agent must promptly and in any event three (3) Business Days before the proposed date for the borrowing notify each Lender of the details of the requested Drawing and the amount of its share in that Drawing. (b) The amount of each Lender’s share of the Loan will be its Pro Rata Share on the proposed Utilisation Date. (c) No Lender is obliged to participate in a Drawing if, as a result, its share in the Loans would exceed its Commitment. (d) If the conditions set out in this Agreement have been met, each Lender must make its share in the Drawing available by the Utilisation Date through its Facility Office.

Advance of Loans. (a) The Facility Agent must promptly and in any event three (3) Business Days before the proposed date for the borrowing Rate Fixing Day notify each Lender of the details of the requested Drawing and the amount of its share in that Drawing. (b) The amount of each Lender’s share of the Loan Drawing will be its Pro Rata Share on the proposed Utilisation Date. (c) No Lender is obliged to participate in a Drawing if, as a result, its share in the Loans would exceed its Commitment. (d) If the conditions set out in this Agreement have been met, each Lender must make its share in the Drawing available by the Utilisation Date through its Facility Office.