Application for Drawdown Sample Clauses
The 'Application for Drawdown' clause defines the process by which a borrower formally requests the disbursement of funds under a loan agreement. Typically, this clause outlines the required documentation, timing, and conditions that must be satisfied before the lender releases the requested funds, such as submitting a drawdown notice a certain number of days in advance and confirming that all preconditions are met. Its core function is to ensure an orderly and transparent procedure for accessing loan funds, thereby reducing misunderstandings and ensuring both parties are clear on the steps required for each disbursement.
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Application for Drawdown. 6.1 The Borrower may apply for a drawdown pursuant to the terms of this Agreement during the Drawdown Application Period. If the Borrower desires to drawdown a Loan B pursuant to this Agreement, the Borrower shall submit to the Agent a document specifying the matters set forth under each of the following items, indicating its intention to apply for a drawdown (the “Drawdown Application”), by 10 a.m. on the third (3rd) Business Day prior to the Desired Drawdown Date B. In this case, the matters set forth under each of the following items shall satisfy the conditions provided for in the respective items.
(i) The amount of Individual Loan B that the Borrower desires to drawdown (the “Desired Drawdown Amount”): The Desired Drawdown Amount shall be no less than 100 million yen and in increments of 100 million yen, and, at the same time, an amount where the Lending Obligation B of each Lender B does not exceed the Unused Commitment Amount B in relation to the relevant Lender B as of the Desired Drawdown Date B.
(ii) The date that the Borrower desires the drawdown (the “Desired Drawdown Date B”): The Desired Drawdown Date B shall be a Business Day during the Drawdown Period.
(iii) The repayment time of the principal and interest of the Individual Loan B in relation to such Drawdown Application (the “Repayment Date”): The Repayment Date shall be a day corresponding to one (1) week or one (1) month after the Desired Drawdown Date B (provided, however, that if such corresponding day falls on a day other than a Business Day, the following Business Day shall be the Repayment Date, and if such following Business Day occurs in the following month, the immediately preceding Business Day shall be the Repayment Date), but may not be after April 24, 2006.
6.2 The indication of intention to apply for a drawdown pursuant to Clause 6.1 shall be effective with respect to All Lenders B upon the Agent receiving the Drawdown Application. When the Agent receives a Drawdown Application from the Borrower, the Agent shall notify All Lenders B of the Borrower’s application for a drawdown and the details thereof, by sending a copy of the Drawdown Application to All Lenders B during the third (3rd) Business Day prior to the Desired Drawdown Date B. The Agent shall retain the original of the Drawdown Application on behalf of All Lenders B until the Outstanding Individual Loan B Money advanced in response to such application is fully repaid.
Application for Drawdown. If Party A plans to draw any amount under the Contract, it shall submit a application for drawdown to Party B in advance. In particular, the application for drawdown of an individual loan in an amount exceeding RMB10,000,000 shall be submitted five working days in advance. Party B shall decide whether to advance such loan to Party A within three working days after receiving Party A’s application for drawdown.
Application for Drawdown. Notice for Interests Payment;
Application for Drawdown