Common use of Advance of the Loan Clause in Contracts

Advance of the Loan. The obligation of each Lender to make its Commitment available in respect of the Loan is conditional upon: 9.1.1 the Agent, or its authorised representative, having received, not later than two (2) Banking Days before the day on which the Drawdown Notice is given, the documents and evidence specified in Part 1 of schedule 4 in form and substance satisfactory to the Agent (acting on the instructions of the Majority Lenders); and 9.1.2 the representations and warranties contained in clause 7 being then true and correct as if each was made with respect to the facts and circumstances existing at such time and the same being unaffected by drawdown of the Loan; and 9.1.3 no Default having occurred and being continuing and there being no Default which would result from the lending of the Loan.

Advance of the Loan. The obligation of each the Lender to make its the Commitment available in respect of the Loan is further conditional upon: 9.1.1 9.2.1 the AgentLender, or its authorised representative, having received, not later than two (2) Banking Days before the day on which or prior to the Drawdown Notice is givenDate, the documents and evidence specified in Part 1 2 of schedule 4 2 in form and substance satisfactory to the Agent (acting on the instructions of the Majority Lenders); andLender; 9.1.2 9.2.2 the representations and warranties contained in clause 7 being then true and correct as if each was made with respect to the facts and circumstances existing at such time and the same being unaffected by drawdown of the Loan; and 9.1.3 9.2.3 no Default having occurred and being continuing and there being no Default which would result from the lending of the Loan.