Common use of Drawdown Clause in Contracts

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.

Appears in 2 contracts

Samples: Loan Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.)

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Drawdown. 2.4.1 Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower following receipt by the Bank Payment Agent from the Borrower of a the Drawdown Notice not later than 10:00 a.m. on the second third Banking Day before the date date, which shall be a Banking Day falling within the Drawdown Period, on which the Borrower proposes the Loan is made, which shall be a Banking Day falling not later than the Termination Date. A made available. 2.4.2 The Drawdown Notice shall be effective on actual receipt by the Bank and Payment Agent and, once given given, shall, subject as provided in clause 3.6.13.6, be irrevocable.

Appears in 2 contracts

Samples: Facility Agreement, Facility Agreement (Navios Maritime Partners L.P.)

Drawdown. 2.2.1 Subject to the terms and conditions of this Agreement, the Loan each Advance shall be made available to the Borrower following receipt by the Bank Lender from the Borrower Borrowers of a Drawdown Notice not later than 10:00 a.m. on the second third Banking Day before the date on which the Borrower proposes the Loan is madedate, which shall be a Banking Day falling not later than within the Termination Date. Drawdown Period, on which the Borrowers propose that Advance is made available. 2.2.2 A Drawdown Notice shall be effective on actual receipt by the Bank and Lender and, once given given, shall, subject as provided in clause 3.6.13.5, be irrevocable.

Appears in 1 contract

Samples: Facility Agreement (EuroDry Ltd.)

Drawdown. 2.2.1 Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower following receipt by the Bank Lender from the Borrower of a Drawdown Notice not later than 10:00 a.m. (Taipei Time) on the second third Banking Day before the date date, which shall be a Banking Day falling within the Drawdown Period, on which the Borrower proposes the Loan is made, which shall be a Banking Day falling not later than the Termination Date. A made available. 2.2.2 The Drawdown Notice shall be effective on actual receipt by the Bank and Lender and, once given given, shall, subject as provided in clause 3.6.13.4, be irrevocable.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

Drawdown. Subject to 2.4.1 On the terms and subject to the conditions of this Agreement, the Loan shall be made available advanced to the Borrower on the Drawdown Date following receipt by the Bank Agent from the Borrower of a Drawdown Notice not later than 10:00 a.m. on the second third Banking Day before the date on which proposed Drawdown Date (or such shorter period as the Borrower proposes the Loan is made, which shall be a Banking Day falling not later than the Termination Date. A Lenders may agree). 2.4.2 The Drawdown Notice shall be effective on actual receipt by the Bank and Agent and, once given given, shall, subject as provided in clause 3.6.13.6, be irrevocable.

Appears in 1 contract

Samples: Facility Agreement (Pyxis Tankers Inc.)

Drawdown. 2.2.1 Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower following receipt by the Bank Lender from the Borrower of a Drawdown Notice not later than 10:00 a.m. on the second third Banking Day before the date date, which shall be a Banking Day falling within the Drawdown Period, on which the Borrower proposes the Loan is made, which shall be a Banking Day falling not later than the Termination Date. A made available. 2.2.2 The Drawdown Notice shall be effective on actual receipt by the Bank and Lender and, once given given, shall, subject as provided in clause 3.6.13.5, be irrevocable.

Appears in 1 contract

Samples: Facility Agreement (Euroseas Ltd.)

Drawdown. 2.4.1 Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower following receipt by the Bank Agent from the Borrower of a the Drawdown Notice not later than 10:00 a.m. on the second third Banking Day before the date date, which shall be a Banking Day falling within the Drawdown Period, on which the Borrower proposes the Loan is made, which shall be a Banking Day falling not later than the Termination Date. A made available. 2.4.2 The Drawdown Notice shall be effective on actual receipt by the Bank and Agent and, once given given, shall, subject as provided in clause 3.6.13.6, be irrevocable.

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Partners L.P.)

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Drawdown. Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower following receipt by the Bank Agent from the Borrower of a Drawdown Notice not later than 10:00 10 a.m. on the second third Banking Day before the date on which the Borrower proposes the Loan is madeDrawdown Date, which shall be a Banking Day falling not later than within the Termination DateDrawdown Period. A Drawdown Notice shall be effective on actual receipt by the Bank and Agent and, once given given, shall, subject as provided in clause 3.6.1, be irrevocable.

Appears in 1 contract

Samples: Facility Agreement (Aries Maritime Transport LTD)

Drawdown. 2.4.1 Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower following receipt by the Bank Payment Agent from the Borrower of a the Drawdown Notice not later than 10:00 a.m. on the second third Banking Day before the date date, which shall be a Banking Day falling within the Drawdown Period, on which the Borrower proposes the Loan is made, which shall be a Banking Day falling not later than the Termination Date. A made available. 2.4.2 The Drawdown Notice shall be effective on actual receipt by the Bank and Payment Agent and, once given given, shall, subject as provided in clause 3.6.12.6, be irrevocable.

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Partners L.P.)

Drawdown. 2.2.1 Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower Borrowers following receipt by the Bank Lender from the Borrower Borrowers of a Drawdown Notice not later than 10:00 a.m. on the second two Banking Day before the date on which the Borrower proposes the Loan is madedate, which shall be a Banking Day falling not later than within the Termination Date. A Drawdown Period, on which the Borrowers propose that the Loan is made available. 2.2.2 The Drawdown Notice shall be effective on actual receipt by the Bank and Lender and, once given given, shall, subject as provided in clause 3.6.13.5, be irrevocable.

Appears in 1 contract

Samples: Facility Agreement (Euroseas Ltd.)

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