Common use of Application of Drawdowns Clause in Contracts

Application of Drawdowns. The Supplier unconditionally and irrevocably authorises CBH Grain to satisfy any CBH Debt (including any applicable Underwriting Fee) and any Encumbrance over any Grain from the proceeds of the Drawdowns and directs CBH Grain to then pay any remaining amount to the Supplier. CBH Grain is not responsible to the Supplier for any loss suffered because of delay in payment of any of the Drawdowns.

Application of Drawdowns. The Supplier unconditionally and irrevocably authorises CBH Grain to satisfy any CBH Debt (including any applicable Underwriting Fee) and any Encumbrance over any Grain from the proceeds of the Drawdowns and directs CBH Grain to then pay any remaining amount to the Supplier. CBH Grain is not responsible to the Supplier for any loss suffered because of delay in payment of any of the Drawdowns, except for delays caused by CBH Grain’s gross negligence or wilful misconduct.

Application of Drawdowns. The Supplier unconditionally and irrevocably authorises CBH Grain to satisfy any CBH Group Debt (including any applicable Underwriting Fee) and any Encumbrance over any Grain from the proceeds of the Drawdowns and directs CBH Grain to then pay any remaining amount to the Supplier. CBH Grain is not responsible to the Supplier for any loss suffered because of delay in payment of any of the Drawdowns.