Common use of Date of first drawdown Clause in Contracts

Date of first drawdown. For progressively drawn loans, you must make the first drawdown (first instalment) on or before the drawdown date specified in your Letter of Offer, unless otherwise agreed by ANZ in writing. If the first instalment does not occur on or before that specified drawdown date, the Loan Agreement will end and ANZ will not be obliged to provide the loan to you.

Date of first drawdown. For progressively drawn loans, you must make the first drawdown (first instalment) on or before the drawdown date specified in your Letter of Offer, unless otherwise agreed by ANZ in writing. If the first instalment does not occur on or before that specified drawdown date, the Loan Agreement will end and ANZ will not be obliged to provide advance the loan to youloan.