Common use of Drawdown Request Clause in Contracts

Drawdown Request. The Borrower may request a Drawing to be advanced in one amount on any Business Day prior to the relevant Availability Termination Date by delivery to the Agent of a duly completed Drawdown Notice not later than 10 a.m. (Paris time) on a Business Day falling not more than ten (10) and not fewer than three (3) Business Days before the proposed Drawdown Date. A Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 13.8, be irrevocable.

Appears in 4 contracts

Samples: Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.)

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Drawdown Request. The Borrower Borrowers may request a Drawing to be advanced in one amount on any Business Day prior to the relevant Availability Termination Date by delivery delivering to the Agent of a duly completed Drawdown Notice not later than 10 a.m. (Paris time) on a Business Day falling not more than ten (10) and not fewer than three (3) Business Days before the proposed Drawdown Date. A Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 13.8, be irrevocable.

Appears in 3 contracts

Samples: Secured Loan Agreement (NewLead Holdings Ltd.), Secured Loan Agreement (DryShips Inc.), Loan Agreement (Danaos Corp)

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Drawdown Request. The Borrower Borrowers may request a Drawing to be advanced in one amount on any Business Day prior to the relevant Availability Termination Date by delivery delivering to the Agent of a duly completed Drawdown Notice not later than 10 a.m. (Paris time) on a Business Day falling not more than ten (10) and not fewer than three (3) Business Days before the proposed Drawdown Date. A Any such Drawdown Notice shall be effective on actual receipt signed by authorised signatories of the Agent Borrowers and, once givendelivered, shall, subject as provided in clause 13.8, be is irrevocable.

Appears in 2 contracts

Samples: Secured Loan Agreement (Baltic Trading LTD), Secured Loan Agreement (Baltic Trading LTD)

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