Availability of the Facility. 5.1 Upon completion of this Agreement not more than three business days after receipt of a Notice of Drawdown from the Borrower, the Lender will, subject to clause 4, remit to the Designated Account an Advance in the sum of GBP1,540,000 (one million five hundred and forty thousand pounds sterling).
5.2 The Lender will, subject to Clause 4, remit to the Designated Account on the 23rd day of March 2000 and thereafter on the 23rd day of the last month in each quarter (or if such day is not a business day, on the next following business day) the amount (as rounded up to the nearest GBP100,000) of negative cash flow set against the following quarter in the Business Plan, provided that no remittance may be made under Clause 5 which would cause the amount drawn under Clause 5 to exceed the Available Facility.
5.3 Save as otherwise provided herein, an Advance will be made by the Lender to the Borrower in respect of amounts in excess of those provided for in Clause 5.2 if:
(i) not less than three business days before the proposed date for the making of such Advance, the Lender has received from the Borrower a Notice of Drawdown therefor, receipt of which shall oblige the Borrower to borrow the amount therein requested on the date therein stated upon the terms and subject to the conditions contained herein;
(ii) the proposed date for the making of such Advance is a business day;
(iii) the proposed date for the making of such Advance is not less than five business days after the date upon which the previous Advance (if any) was made hereunder;
(iv) the proposed amount of such Advance is no greater than GBP50,000 in any month and shall not cause the aggregate of Advances under Clause 5.2 made in any consecutive period of twelve months to exceed GBP250,000 provided that if such amount is greater than the Available Facility, the amount of the Advance shall be limited to the Available Facility; and
(v) either:
(a) no Event of Default or Potential Event of Default has occurred; and
(b) the representations set out in Clause 14 are in all material respects true on and as of the proposed date for the making of such Advance.
Availability of the Facility. The Lender will, subject to Clause 4, remit the Facility to the Borrower no later than seven days from the Closing (or if such day is not a business day, on the next following business day).
Availability of the Facility. The Facility will be made available by the Bank to the Customer in the manner set out in this Agreement upon the perfection of the Letter of Offer, the Asset Sale Agreement (where applicable), this Agreement and any other Security Documents or such other agreement as may be made between the Bank and the Customer and upon the observance and performance of the covenants contained in this Agreement. NOTWITHSTANDING THAT, the parties expressly agree that the availability of the Facility is subject to availability of funds to the Bank. Nothing in this Agreement shall be deemed to impose on the Bank any duty either at law or equity to make or to continue to make available the Facility. Subject to Shariah, the Bank reserves the right to terminate or cancel the Facility in the manner as determined by the Bank PROVIDED ALWAYS that the Bank should not be obliged to render any reason for such termination or cancellation of the Facility AND PROVIDED ALWAYS that such termination or cancellation may be exercised by the Bank irrespective of whether or not the Customer has breached any of the terms and conditions of this Agreement or of any other documents in relation to the Facility and without any obligations whatsoever to render any reason for such termination or cancellation.
Availability of the Facility.
(a) At the request of the Customer(s), the Bank agrees to make available to the Customer(s) the Facility pursuant to which the parties shall enter into the Tawarruq Transactions, subject to Availability Period and in accordance with the terms of this Agreement.
(b) Upon expiry of the Availability Period, the Bank at its sole discretion may review the Facility and extend the Availability Period or treat the Facility as cancelled unless an extension is granted by the Bank.
(c) If the Bank does not extend the Availability Period, the Bank may treat the Facility as cancelled if the Tawarruq Transactions have not been entered into. However if the Tawarruq Transactions have been entered into, any undisbursed portion of the Customer(s)’ Sale Price after the Availability Period shall be treated as prepayment of the Bank’s Sale Price (Principal portion) and the Profit Portion for the undisbursed portion shall be waived as Ibra’ as stated in Clause 6.2.
Availability of the Facility. 2.1 Subject to our approval of the Facility Application, we agree to make the Facility available to you on the terms of this Agreement. The Facility will be made available by way of multiple Advances so long as the Amount outstanding under the Facility does not, at any time, exceed the Facility Limit. We may review the Facility Limit at any time. Any amendment to the Facility Limit will be notified to you by us.
2.2 if the Facility Application is approved by us, it will immediately constitute a binding facility agreement on the terms set out in this Agreement. We may approve the Facility Application subject to any special conditions that we see fit in our absolute discretion. if we notify you that we have approved the Facility Application subject to any such special conditions, those special conditions are deemed to form part of this Agreement.
2.3 you agree to use the proceeds of each Advance solely for the purpose of paying the purchase price for PGG Xxxxxxxxx Products as more particularly described in each invoice and/or other document or information describing the PGG Xxxxxxxxx Products to be purchased with the proceeds of the Advance, in each case as accepted by us.
2.4 We will make an Advance available to you on any Business day during the Availability Period by paying the Advance direct to PGG Xxxxxxxxx Limited, if:
(a) each of the initial conditions precedent described in clause 1 above has been provided in a form and substance satisfactory to us;
(b) we have received and accepted a copy of the invoice from you provided by PGG Xxxxxxxxx Limited and/or other such other document or information describing the PGG Xxxxxxxxx Products to be purchased with the proceeds of the Advance at least 2 Business days prior to the proposed date of Advance;
(c) we are satisfied that the proposed date of Advance is no later than 10 Business days after the date you took possession of the relevant PGG Xxxxxxxxx Products;
(d) we have received any fee(s) due on or before the proposed date of Advance;
(e) the Advance (when aggregated with the Amount outstanding) would not cause the Facility Limit to be exceeded on the date of Advance;
(f) no event of default has occurred, or will occur, as a result of the making of the Advance;
(g) the representations and undertakings made in the relevant documents are true, accurate and complied with in all respects on the date of Advance as if repeated on that date by reference to the facts and circumstances then existing; and
(h) we ha...
Availability of the Facility. 1.1 Amount Xxxxxx agrees, at the request of the Borrower, to make the Advance by payment to the Dealer of the Loan Amount on the Date of Advance.
Availability of the Facility. 5.1 The Lender will within five days of the date hereof remit to the Borrower an Advance in the amount of the US Dollar equivalent of (pound)177,550, this being the sum of the first months cash flow requirement as stated in the Annual Business Plan.
5.2 The Lender will, subject to Clause 4, remit by cheque or wire transfer to the Designated Account on the 23rd day of each month (or if such day is not a business day, on the next following business day) the amount of negative cash flow set against the next following month in the Annual Business Plan, provided that no remittance may be made under Clause 5 which would cause the amount drawn under Clause 5 to exceed the Available Facility, provided that the Lender shall have received:
5.2.1 satisfactory reports on the progress and development of the business of the Borrower in accordance with the Annual Business Plan; and
5.2.2 all information required by Clause 29.
Availability of the Facility. 5.1 On the date hereof, subject to the delivery to the Lender of all the documents listed in the First Schedule, the Lender will remit to the Borrower an Advance in the amount of US Dollar equivalent to the Tranche A Commitment to the Designated Account.
5.2 The Lender will, subject to Clause 4, remit by cheque or wire transfer to the Designated Account upon the delivery of the Notice of Drawdown (or if such day is not a business day, on the next following business day), an amount equal to the amount set forth in such Notice of Drawdown, up to the Tranche B Commitment, less all amounts previously paid pursuant to Section 5.3.
5.3 Alternatively, the Lender will, subject to Clause 4, directly pay Borrower obligations upon receipt of invoice or demand (or if such day is not a business day, on the next following business day), an amount equal to the invoiced or demanded amount, up to the Tranche B Commitment, less all amounts previously paid pursuant to Section 5.2.
Availability of the Facility. Subject to fulfillment of all conditions precedent in Clause 3.1, in each case, in form and content satisfactory to the Bank and upon fulfillment of the other terms and covenants under Clause 4.1, the Bank shall make the Facility available to the Customer during the Availability Period. Any amount unutilised at the expiry of the Availability Period shall be cancelled or at the absolute discretion of the Bank, the Bank may extend the Availability Period subject to the fulfillment of any additional terms and conditions that may be imposed by the Bank pursuant to the extension.
Availability of the Facility. 5.1 Except as otherwise provided herein, TCN will electronically transfer the Advance to DISX on satisfaction of the condition precedent set out at Clause 4.
5.2 The remainder of the Facility will be electronically transferred on the 1st March 1999 to DISX on satisfaction of the condition precedent set out at Clause 4.
