Common use of Drawdown Clause in Contracts

Drawdown. 2.3.1 Subject to the terms and conditions of this Agreement, the Advance shall be made available to the Borrower following receipt by the Agent from the Borrower of a Drawdown Notice not later than 10:00 a.m. on the third (3rd) Banking Day before the proposed Drawdown Date. 2.3.2 A Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.5.1, be irrevocable.

Appears in 1 contract

Samples: Loan Agreement (Danaos Corp)

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Drawdown. 2.3.1 Subject to 2.4.1 On the terms and subject to the conditions of this Agreement, the each Advance shall be made available 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 (3rd) Banking Day before the each proposed Drawdown Date. 2.3.2 2.4.2 A Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.5.13.6, be irrevocable.

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Holdings Inc.)

Drawdown. 2.3.1 Subject to the terms and conditions of this Agreement, the each Advance shall be made available 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 (3rd) Banking Day before the proposed Drawdown Date. 2.3.2 A date on which the Borrower proposes the relevant Advance is made available. Each Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.5.13.6.1, be irrevocable.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

Drawdown. 2.3.1 Subject to the terms and conditions of this Agreement, the each Advance shall be made available to the Borrower following receipt by the Agent Bank from the Borrower of a Drawdown Notice for such Advance not later than 10:00 a.m. on the third (3rd) Banking Day before the proposed Drawdown Date. 2.3.2 date on which the Borrower proposes such Advance is made. A Drawdown Notice shall be effective on actual receipt by the Agent and, Bank shall specify the Tranche under which it is to be made and once given, given shall, subject as provided in clause 3.5.13.6.1, be irrevocable.

Appears in 1 contract

Samples: Supplemental Agreement (FreeSeas Inc.)

Drawdown. 2.3.1 Subject to the terms and conditions of this Agreement, the Agreement an Advance shall be made available to the Borrower during the Drawdown Period following receipt by the Facility Agent from the Borrower of a Drawdown Notice not later than 10:00 11 a.m. on the third (3rd) Banking Day before the proposed Drawdown Date. 2.3.2 . A Drawdown Notice shall be effective on actual receipt by the Agent Facility Agent, and, once given, shall, subject as provided in clause 3.5.15.7, be irrevocable.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Facility Agreement (Gulfmark Offshore Inc)

Drawdown. 2.3.1 Subject to 2.4.1 On the terms and subject to the conditions of this Agreement, the each Advance shall be made available advanced to the Borrower Borrowers on the relevant Drawdown Date following receipt by the Agent from the Borrower Borrowers of a Drawdown Notice Notices not later than 10:00 10 a.m. on the third (3rd) Banking Day before the each proposed Drawdown Date. 2.3.2 2.4.2 A Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.5.13.6, be irrevocable.

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Holdings Inc.)

Drawdown. 2.3.1 Subject to 2.4.1 On the terms and subject to the conditions of this Agreement, the each Advance shall be made available 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 (3rd) fifth Banking Day before the each proposed Drawdown Date. 2.3.2 2.4.2 A Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.5.13.6, be irrevocable.

Appears in 1 contract

Samples: Facility Agreement for a Term Loan Facility (Navios Maritime Acquisition CORP)

Drawdown. 2.3.1 Subject to the terms and conditions of this Agreement, the each Advance shall be made available advanced to the Borrower on the relevant Drawdown Date following receipt by the Agent from the Borrower Borrower of a Drawdown Notice not later than 10:00 a.m. on the third (3rd) Banking Day before the proposed Drawdown Date. 2.3.2 A date on which the Borrower proposes the relevant Advance is made available. Each Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.5.13.6.1, be irrevocable.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

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Drawdown. 2.3.1 Subject to 2.4.1 On the terms and subject to the conditions of this Agreement, the each Advance shall be made available drawn by and advanced to the Borrower Borrowers in one amount on the relevant Drawdown Date following receipt by the Agent from the Borrower Borrowers of a Drawdown Notice not later than 10:00 a.m. on the third (3rd) second Banking Day before the each proposed Drawdown Date. 2.3.2 2.4.2 A Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.5.13.5, be irrevocable.

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Acquisition CORP)

Drawdown. 2.3.1 Subject to 2.4.1 On the terms and subject to the conditions of this Agreement, the each Advance shall be made available advanced to the Borrower Borrowers on the relevant Drawdown Date following receipt by the Agent from the Borrower Borrowers of a the relevant Drawdown Notice not later than 10:00 10 a.m. on the third (3rd) Banking Day before the proposed relevant Drawdown Date. 2.3.2 A 2.4.2 The relevant Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.5.13.6, be irrevocable.

Appears in 1 contract

Samples: Facility Agreement for a Term Loan Facility (Navios Maritime Partners L.P.)

Drawdown. 2.3.1 Subject to 2.4.1 On the terms and subject to the conditions of this Agreement, the Advance each Tranche shall be made available advanced to the Borrower Borrowers on the Drawdown Date following receipt by the Agent from the Borrower Borrowers of a the Drawdown Notice not later than 10:00 a.m. on the third (3rd) Banking Day before the proposed Drawdown Date. 2.3.2 A 2.4.2 The Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.5.13.6, be irrevocable.

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Holdings Inc.)

Drawdown. 2.3.1 Subject to 2.4.1 On the terms and subject to the conditions of this Agreement, the each Advance shall be made available advanced to the Borrower Borrowers on the relevant Drawdown Date following receipt by the Agent from the Borrower Borrowers of a Drawdown Notice not later than 10:00 a.m. on the third (3rd) second Banking Day before the each proposed Drawdown Date. 2.3.2 2.4.2 A Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.5.13.5, be irrevocable.

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Acquisition CORP)

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