Completion of a Utilization Request Sample Clauses

Completion of a Utilization Request. (a) Each Utilization Request is irrevocable and will not be regarded as having been duly completed unless: (i) the proposed Utilization Date is a Business Day within the Availability Period; (ii) the currency and amount of the Utilization comply with Clause 5.3 (Currency and amount); (iii) the proposed Interest Period complies with Clause 9 (Interest Periods); and (iv) it specifies the account and bank (which must be in New York City) to which the proceeds of the Utilization are to be credited. (b) Only one Loan may be requested in each Utilization Request.

Completion of a Utilization Request. A Utilization Request is irrevocable (except for a correction in relation to a purely administrative or technical error and with the consent of the Administrative Agent (acting on the instructions of the Required Lenders), such consent not to be unreasonably withheld or delayed)) and will not be regarded as having been duly completed unless: (a) it specifies the Ship(s) to which it relates; (b) the proposed Utilization Date is a Business Day falling on or before the Last Availability Date for that Ship; (c) the proposed Release Date is a Business Day; (d) the currency and amount of the Utilization comply with Clause 5.3 (Currency and amount); (e) the proposed Interest Period complies with Clause 9 (Interest Periods); (f) it identifies the purpose for the Utilization and that purpose complies with Clause 3 (Purpose); (g) it specifies the account bank details to which the proceeds of the Loan are to be credited; and (h) it is duly signed by authorized signatories of the Borrower; provided that only one Advance per Ship shall be permitted.

Completion of a Utilization Request. (a) Each Utilization Request is irrevocable and will not be regarded as having been duly completed unless: (i) the proposed Utilization Date is a Business Day within the Availability Period; (ii) the currency and amount of the Utilization comply with Clause 5.3 (Currency and amount); (iii) the proposed Interest Period complies with Clause 9 (Interest Periods;); and (iv) it specifies the purpose of the proposed Loan (i.e. for Newbuilding Predelivery Costs, working capital or an Additional Ship) and, except in relation to a Loan for working capital, specifies the relevant Newbuilding or Additional Ship. (b) Only one (1) Loan may be requested in each Utilization Request.

Completion of a Utilization Request. A Utilization Request is irrevocable (except for a correction in relation to a purely administrative or technical error and with the consent of the Administrative Agent (acting on the instructions of the Required Lenders), such consent not to be unreasonably withheld or delayed)) and will not be regarded as having been duly completed unless: (a) It specifies the New Facility to which it relates; (b) the proposed Utilization Date is a Business Day falling on or before the Last Availability Date for the relevant New Facility; (c) the currency and amount of the Utilization comply with Clause 5.3 (Currency and amount); (d) the proposed Interest Period complies with Clause 9 (Interest Periods); (e) it identifies the purpose for the Utilization and that purpose complies with Clause 3 (Purpose); (f) it specifies the account bank details to which the proceeds of the Loan are to be credited; and (g) it is duly signed by authorized signatories of the Borrower; provided that (x) no more than one (1) Utilization of the New Term Facility shall be permitted and (y) no more than three (3) Utilizations of the Revolving Facility may occur during each fiscal quarter in each Fiscal Year of the Borrower.