Drawdown Sample Clauses
Drawdown. Subject to the terms and conditions of this Agreement, each Advance shall be made to the Borrowers following receipt by the Agent from the Borrowers of a Drawdown Notice not later than 10:00 a.m. on the third Banking Day before the date, which shall be a Banking Day falling within the Drawdown Period for such Advance, on which the Borrowers propose such Advance is made. A Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.6.1, be irrevocable.
Drawdown. The Borrower shall only draw down a Drawing if:
2.3.1 the Agent receives at least five (5) Business Days’ notice of the Borrower’s request for the Drawing in the form of Schedule 2;
2.3.2 the Advance Date proposed is a Business Day within the relevant Availability Period;
2.3.3 the first Drawing in respect of a Tranche is to be applied in part payment of the relevant Contract Price due to the Builder under the relevant Building Contract on the relevant Delivery Date;
2.3.4 the Drawing is in a minimum amount of one million euro (EUR1,000,000) in the case of a euro Drawing or one million Dollars (USD1,000,000) in the case of a Dollar Drawing or a whole multiple thereof;
2.3.5 on any Advance Date not more than five (5) Drawings will be outstanding in respect of the relevant Tranche;
2.3.6 the drawdown of the Drawing would not result in the amount of the relevant Tranche exceeding the relevant Maximum Tranche Amount on the Advance Date;
2.3.7 no Event of Default has occurred before the relevant Advance Date and such drawing would not constitute an Event of Default;
2.3.8 the representations and warranties set out in Clause 9 and each of the other Security Documents are correct on the relevant Advance Date;
2.3.9 no written notice has been received indicating that the Lower Saxony Guarantees do not, or the relevant Lower Guarantee does not (as the case may be), validly exist without restriction; and
2.3.10 it is then lawful for each of the Lenders to make available its relevant Contribution to the Drawing; PROVIDED THAT the Lenders will only be obliged to comply with Clause 3.1 if, on the relevant Advance Date or on the commencement of the relevant Interest Period, no Event of Default is continuing or would result from the conversion and the representations made by the Borrower under Clause 9 are true in all material respects. Each Drawing advanced under this Clause 2.3 shall be deemed to have been advanced pro rata from Portion A and Portion B of the relevant Tranche.
Drawdown. Subject to the terms and conditions of this Agreement, each Advance shall be made following receipt by the Bank from the Borrowers of a Drawdown Notice not later than 10:00 a.m. on the second Banking Day before the date, which shall be a Banking Day falling within the relevant Drawdown Period, on which such Advance is intended to be made. A Drawdown Notice shall be effective on actual receipt by the Bank and, once given, shall, subject as provided in clause 3.6.1, be irrevocable.
Drawdown. The Lender is only required to make the Loan and each Instalment available to the Borrower if all requirements of the Lender in relation to the Loan have been met, including:
Drawdown. Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower following receipt by the Bank from the Borrower of a Drawdown Notice not later than 10:00 a.m. on the second Banking Day before the date on which the Borrower proposes the Loan is made, which shall be a Banking Day falling not later than the Termination Date. A Drawdown Notice shall be effective on actual receipt by the Bank and once given shall, subject as provided in clause 3.6.1, be irrevocable.
Drawdown. (1) The Borrower shall make one-time drawdown or instalments drawdown in accordance with the schedules as agreed under this Contract, and submit the drawdown application to the Lender three (3) banking days prior to the each drawdown date as agreed in this Contract for the processing of draw procedure (refer to Appendix 1 for format )
(2) In the event that a change the drawdown date such as postponement is required by the Borrower, the Borrower shall obtain consent from the Lender three (3) banking days prior to the scheduled day, and shall pay the Lender loss of interest income as a result of such change (loss of interest income equals to interest the Lender should have earned from the loan deduct by the interest earned through savings over the same period).
(3) In the event that the Borrow wishes to cancel all or part of the undrawn loan amount, the Borrower shall obtain the approval from the Lender by submitting an application to the Lender three (3) days prior to the scheduled drawdown day or expiry of the drawdown period. The Borrower confirms that in the event where all or part of the loan was not drawn down upon the expiry of the drawdown period, the Borrower shall pay an undertaking fees to the Lender (as detailed in Part I of this Contract).
(4) In the event where the Borrower fails to lodge its application for the draw down or postponement of the drawdown upon the expiry of the scheduled drawdown date or drawdown period, the Lender may notify the Borrower to handle related procedure within three (3) banking days from the date of the expiry. Where the Borrower fails to complete either one of the applications, the Lender shall have the rights to cancel the undrawn loan amount.
(5) Notwithstanding the terms and conditions as agreed elsewhere in this Contract, the Lender shall have the rights to refuse the Borrower’s drawdown application and cancel all or part of the loan agreed in this Contract, prior to any drawdown of the loan.
Drawdown. Subject to the terms and conditions of this Agreement, the Loan shall be advanced in full in one amount on the Drawdown Date following receipt by the Bank from the Borrower of a Drawdown Notice not later than 10:00 a.m. on the third Banking Day before the proposed Drawdown Date. A Drawdown Notice shall be effective on actual receipt by the Bank and, once given, shall, subject as provided in clause 3.6.1, be irrevocable.
Drawdown. 2.4.1 On the terms and subject to the conditions of this Agreement, each Advance shall be advanced to the Borrower on the relevant Drawdown Date following receipt by the Agent from the Borrower of a Drawdown Notice not later than 10:00 a.m. on the third Banking Day before each proposed Drawdown Date.
2.4.2 A Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.6, be irrevocable.
Drawdown. 4.1 Subject to Clause 4.2, the Lender shall effect the disbursement of the Convertible Loan to the Borrower as follows:
(a) the aggregate sum of S$1,000,000 (“First Drawing”) to be disbursed on the date of this Agreement or such other date as the Parties may otherwise agree in writing (“First Disbursement Date”), whereupon all of the events in Clauses 4.2 and 4.3 described below shall occur; and
(b) subject to the satisfaction of the following conditions:
(i) the disbursement of the First Drawing having been successfully effected;
(ii) no material adverse change or a development involving a prospective material adverse change (as determined by the Lender) in the prospects, operations or financial conditions of the Borrower occurring between the First Disbursement Date up to and including the Second Disbursement Date;
(iii) all representations, undertakings, covenants and warranties of the Borrower under this Agreement being complied with, true, accurate and correct as at the date of this Agreement and each day from the First Disbursement Date up to and including the Second Disbursement Date; and
(iv) no Event of Default has occurred, the aggregate sum of S$500,000 (“Second Drawing”) shall be made available to the Borrower, whereupon the Lender shall disburse the aggregate amount of the Second Drawing less the Year 1 Interest II into the Designated Bank Account on the date falling six (6) months immediately after the First Disbursement Date (“Second Disbursement Date”).
4.2 Notwithstanding any other provisions in this Agreement, the Lender shall not be obliged to fulfil any of its obligations under this Agreement including without limitation, the disbursement of the First Drawing by the Lender on the First Disbursement Date or the disbursement of the Second Drawing by the Lender on the Second Disbursement Date, unless the following is delivered or made available by the Borrower to the Lender on the First Disbursement Date:
(a) certified true copies of the board and shareholders’ resolutions of the Borrower duly passed by the Directors and the Borrower Shareholders respectively, in accordance with the constitution (or equivalent constitutive documents) of the Borrower, approving the entry by the Borrower into this Agreement and all other documents and agreements ancilliary or pusuant to or in connection with this Agreement;
(b) a personal guarantee executed by CCK in favour of the Lender in the form set out in Schedule 4 hereof guranteeing the obligations of...
Drawdown. This clause 2 does not apply to a facility account that is: • a construction facility, until the date of final advance. We make progressive advances on a construction facility. Please see clause 14 for details relating to progressive advances; or • a fixed rate facility. Please see clause 15 for more details on drawing down a fixed rate facility account. We will make the facility amount available to you by one or more drawdowns. The sum of drawdowns on a facility account must not exceed the facility amount. We will make the first drawdown on a facility account on your written instructions or those of your conveyancer or solicitor. You can make other drawdowns by using StarNet or by making a written request to Xxxxxxxxxx. You must make a drawdown on your loan within 90 days of the disclosure date set out in the schedule or we may cancel your loan. If you think you will need an extension you should contact us to discuss your options before the relevant date. You can make drawdowns on your loan by making a written request to Xxxxxxxxxx. We may make other drawing methods available to you like direct debit. Please ask Advantedge for details of drawing methods that may be available on your loan. [The amount needs to be in the schedule]. If you wish to make a drawdown on a facility account after the settlement date for the account by making a written request to us, we must receive your request at least two business days before the date you want the funds. We may charge you a fee for a drawdown that you make by a written request to us. You can ask Advantedge for the details of the most current fees on your loan.