Delivery of a Utilization Request Clause Samples
The 'Delivery of a Utilization Request' clause defines the process by which a borrower formally requests the use of funds or services under a facility agreement. Typically, this involves the borrower submitting a written notice or form to the lender, specifying the amount, date, and type of utilization, such as drawing down a loan or requesting a letter of credit. This clause ensures that all requests are made in a standardized and documented manner, reducing the risk of misunderstandings and providing a clear record for both parties.
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Delivery of a Utilization Request. The Borrower may utilize a Facility by delivery to the Lender of a duly completed Utilization Request not later than ten Business Days before the proposed Utilization Date.
Delivery of a Utilization Request. The Borrower may utilize the Facility by delivery to the Agent of a duly completed Utilization Request not later than the Specified Time.
Delivery of a Utilization Request. The Borrower may utilize the New Facilities by delivering to the Administrative Agent a duly completed Utilization Request at least three (3) Business Days before the proposed Utilization Date.