Common use of Availability of Drawings Clause in Contracts

Availability of Drawings. Subject to the conditions precedent in clause 3 having been satisfied, the Borrower may draw down the Loan from the Availability Date. If the Loan is not drawn down, either fully or partially, within 30 days of the issue of this loan documentation the Lender may, at its sole discretion, elect to withdraw the availability of the Loan facility, or charge such a fee as the Lender shall determine appropriate to compensate it for its expenses and losses, which sum shall be added to the outstanding principal on Drawdown Date. The Lender may at its entire discretion extend the Availability Date by five (5) working days.

Availability of Drawings. Subject to the conditions precedent in clause 3 having been satisfied, the Borrower may draw down the Loan from the Availability Date. If the Loan is not drawn down, either fully or partially, within 30 10 working days of the issue of this loan documentation the Lender may, at its sole discretion, elect to withdraw the availability of the Loan facility, or charge such a fee as the Lender shall determine appropriate to compensate it for its expenses and losses, which sum shall be added to the outstanding principal on Drawdown Date. The Lender may at its entire discretion extend the Availability Date by five (5) working days.