Drawdown Procedure. (a) So long as no Default or Event of Default has occurred and is continuing the Borrowers may, at any time prior to September 30, 2012, request Drawdowns pursuant to this Section 2.2 by delivery of written notice (a “Borrowing Notice”) to the Lender no later than ten Business Days prior to the date on which funding of the Drawdown is sought. The Borrower Notice shall:
(i) state the amount of such Drawdown;
(ii) state the date on which funding of the Drawdown is sought, which shall be a Business Day;
(iii) state the Remaining Drawdown Amount before giving effect to such Drawdown and the Remaining Drawdown Amount after giving effect to such Drawdown;
(iv) contain a reasonably detailed description of the purposes for which such Drawdown will be used, including, in the case such Drawdown is for purposes of settling Existing Unsecured Claims, the particular Existing Unsecured Claims to be settled and the material terms and conditions of such settlement;
(v) contain wire instructions for the Borrowers’ account to which such Drawdown is to be funded;
(vi) contain a certification from a Responsible Officer of each of the Borrowers that no Default or Event of Default has occurred and is continuing; and
(vii) contain such other information as the Lender may require from time to time to be included in Borrowing Notices.
(b) The Lender’s obligation to lend, and the Borrower’s right to borrow, any Drawdown shall be subject to the satisfaction, on and as of the applicable Drawdown Date, of the conditions precedent specified in Section 3.2.
Drawdown Procedure. (a) Other than in respect of Convertible Security A, the Company must deliver Funding Notice to the Investor if the Company requires an Investment Amount.
(b) A Funding Notice for each Convertible Security, must:
(i) be in writing specifying the matters set out in Schedule 9;
(ii) be received by the Investor before 11am on a Trading Day not less than 45 Trading Days before the proposed Closing Date (or such shorter period with the prior written consent of the Investor);
(iii) nominate a proposed Closing Date for the Convertible Security; and
(iv) be signed by an Authorised Officer of the Company.
(c) A Funding Notice received by the Investor may only be revoked with the prior written consent of the Investor and otherwise is irrevocable.
(d) A Funding Notice issued otherwise than in compliance with clause 2.2(b) is, unless otherwise agreed (or compliance is waived) in writing by the Investor, invalid.
Drawdown Procedure. The Borrower shall submit to the Lender an irrevocable drawdown application (the form of which is attached hereto as Annex 1) 3 Business Days prior to the drawdown date. Upon receipt and review and approval of said drawdown application, the Lender shall on the drawdown date transfer the drawdown amount applied for by the Borrower from the Loan Account of the Borrower into the Deposit Account of the Borrower, or, shall directly disburse the said amount into the account designated in the drawdown application by the party making the drawdown.
Drawdown Procedure. A. Before Completion of Construction of the Project, the Borrower may request Drawdown of the Loan Commitments during the Availability Period in accordance with the Drawdown Plan as set out in Exhibit 2. In case where progress of the Project is delayed or there is any other unavoidable event, the Borrower may adjust the Drawdown schedule under the Drawdown Plan as set out in Exhibit 2 after obtaining prior written consents from the Facility Agent given in accordance with the instruction of the Majority Lenders. After Completion of Construction of the Project, the Borrower may request Drawdown of the Loan Commitments on any Interest Payment Date during the Availability Period.
B. Notwithstanding paragraph A, (i) the Borrower may request Drawdown of the Interest Reserve Loan from the Interest Reserve Commitment on each Interest Payment Date during the Construction Period and (ii) during the Operation Period, in case it is expected to be difficult to pay the amount of interests payable on the relevant Interest Payment Date from the cash deposited in the Revenue Deposit Account, the Borrower may, three (3) Business Days prior to the relevant Interest Payment Date, request the Facility Agent to make a Drawdown and with the Facility Agent’s consent, such Drawdown from the Interest Reserve Commitment shall be made; provided, however, if, notwithstanding item (ii) above, payment of interest is made from the cash deposited in the Revenue Deposit Account and results in any unused and outstanding Interest Reserve Commitment, the Borrower may request Drawdown of the Loan Commitment in the amount equal to the amount of such unused and outstanding Interest Reserve Commitment, for the purpose consented by the Majority Lenders.
C. If the Borrower intends to draw down the Loan Commitments, the Borrower shall file with the Facility Agent a Drawdown Request in form and substance as set forth in Form A not later than three (3) Business Days prior to the date set for Drawdown (“Proposed Drawdown Date”) or the later time which the Facility Agent agreed. Provided, however, that the Borrower shall submit a Drawdown Request consented by the Builder before the Completion of Construction, which consent may be omitted after the Completion of Construction.
D. The Borrower shall draw down KRW One Hundred Million (￦100,000,000) or if more than that, multiple amounts of KRW One Hundred Million (￦100,000,000) (except for the last Drawdown), and the unit of Loan Commitment made available f...
Drawdown Procedure. The Borrowers may request the Lender to advance the proceeds of the Loan by delivering to the Lender a duly completed Drawdown Notice, which Drawdown Notice once issued shall be irrevocable and shall be received by the Lender not later than 10:00 a.m. (New York City time) two (2) Business Day prior to the requested Loan. The Lender’s obligation to make the proceeds of the Loan available to the Borrowers hereunder shall expire on December 31, 2020; provided, however, that such obligation shall terminate automatically upon the occurrence of a Default or an Event of Default, or upon the occurrence of an event which could reasonably be expected to have a Material Adverse Effect.
Drawdown Procedure. Each Drawdown Notice:
(a) is irrevocable
(b) must be received by the Lender two Business Days before the proposed Drawdown Date;
(c) must be signed by an Authorised Officer of the Borrower.
(d) must specify:
(i) the proposed Drawdown Date which must be a Business Day before the expiry of the Availability Period;
(ii) the amount of the Drawdown which must be not less than $10,000 and an integral multiple of $100 or, if less, the aggregate undrawn Commitment of the Facility;
(iii) the purpose for which the Drawdown will be applied;
(iv) payment instructions; and
(v) any other details as the Lender requires.
Drawdown Procedure. Appendix B as referenced in Section 6 of the Agreement and provided as Appendix B of the Agreement is hereby amended by Exhibit B regarding drawdown of funds for the Allowable Uses described this Amendment.
Drawdown Procedure. The Borrower shall comply with the procedure under clause 5 of this Agreement for the drawdown of each Loan.
Drawdown Procedure. 8.2.1 Within 64 days after this Agreement is signed, subject to fulfilment of all conditions set out under Clause 7 (other than Clause 7.2.6) above, the Borrower must submit an irrevocable drawdown request (in the form attached hereto as Schedule 1) to the Lender on any Business Day within the Availability Period. The drawdown request shall be submitted 21 days prior to the proposed drawdown date (which is a Business Day within the Availability Period), and the amount to be advanced as applied for under the drawdown request shall not exceed the amount of the Commitment.
8.2.2 Upon receipt of the irrevocable drawdown request from the Borrower and approval by the Lender, the Lender shall commence fund raising. Subject to other provisions of this Agreement, the Lender shall upon having successfully raised funds make the raised funds available to the foreign debt account designated by the Borrower before 4pm of the drawdown date.
8.2.3 The Borrower shall submit only one drawdown request under this Agreement.
Drawdown Procedure. The Borrower shall give an irrevocable Drawdown Notice to the Lender three Business Days before the Drawdown Date (see Appendix 1). The lender shall, upon the receipt and approval of the Drawdown Notice, transfer the facility from the Loan Account of the Borrower to its Saving Account or to the account designated by the Borrower in the Drawdown Notice on the date of Drawdown.
