Conditions for drawdown. 6.1 Party A may not draw down the loan unless the following conditions are satisfied: 6.1.1 Party A has obtained governmental approvals, licenses and has completed relevant registrations and other statutory procedures related to the loan hereunder pursuant to the laws and regulations; 6.1.2 The capital in the same proportion of the loan has been provided, which means the capital of the project shall be provided consistently with the provision of the loan; 6.1.3 The progress of the project is consistent with the investment already made; 6.1.4 Party A has provided duly completed and signed drawdown application to Party B; 6.1.5 Party A has provided the following relevant information as required by Party B; 6.1.5.1 Information confirming consistency between project progress with investment, including without limitation project schedule and notes thereto; 6.1.5.2 Information confirming the capital in the same proportion of the loan has been provide; and 6.1.5.3 Fixed assets purchase or construction agreement, as applicable. 6.1.6 Where a security is created hereunder, the Parties have completed all procedures as agreed upon, and such procedures/security/pledge have come into effect; 6.1.7 No event of default has occurred on part of Party A; 6.1.8 As of the drawdown date, all Party A’s representations and warranties hereunder remain true, accurate and valid; and 6.1.9 As of the drawdown date, operational and financial conditions of Party A remain substantially the same as those as of the execution hereof, and no major adverse changes have occurred. 6.2 Party A shall handle drawdown procedures at Party B’s office upon satisfaction of the conditions set forth above, and shall sign the loan certificate with Party B. The loan certificate shall constitute an integral part of this Agreement with same legal effect. 6.3 The granting of the loan prior to satisfaction of conditions set forth in Article 6.1 shall not constitute a flaw in Party B’s performance.
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Samples: Loan Agreement, Fixed Assets Loan Agreement (Daqo New Energy Corp.), Fixed Assets Loan Agreement (Daqo New Energy Corp.)
Conditions for drawdown. 6.1 Party A may not draw down drawdown the loan unless the following conditions are satisfied:
6.1.1 Party A has obtained governmental approvals, licenses and has completed relevant registrations and other statutory procedures related to the loan hereunder pursuant to the laws and regulations;
6.1.2 The capital in the same proportion of the loan has been provided, which means the capital of the project shall be provided consistently with the provision of the loan;
6.1.3 The progress of the project is consistent with the investment already made;
6.1.4 Party A has provided duly completed and signed drawdown application to Party B;
6.1.5 Party A has provided the following relevant information documents as required by Party B;
6.1.5.1 Information confirming consistency between project progress with investment, including without limitation project schedule and notes thereto;
6.1.5.2 Information confirming the capital in the same proportion of the loan has been provide; and
6.1.5.3 Fixed assets purchase or construction agreement, as applicable.
6.1.6 6.1.3 Where a security is created hereunder, the Parties have completed all procedures as agreed upon, and such procedures/security/pledge have come into effect;
6.1.7 6.1.4 No event of default has occurred on part of Party A;
6.1.8 6.1.5 As of the drawdown date, all Party A’s representations and warranties hereunder remain true, accurate and valid; and
6.1.9 6.1.6 As of the drawdown date, operational and financial conditions of Party A remain substantially the same as those as of the execution hereof, and no major adverse changes have occurred.
6.2 Party A shall handle drawdown procedures at Party B’s office upon satisfaction of the conditions set forth above, and shall sign the loan certificate with Party B. The loan certificate shall constitute an integral part of this Agreement Contract with same legal effect.
6.3 The granting of the loan prior to satisfaction of conditions set forth in Article 6.1 shall not constitute a flaw in Party B’s performance.
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