Common use of Drawdown Clause in Contracts

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. (1a) The Borrower shall make one-time drawdown Loan/Facility (or instalments drawdown in accordance with the schedules as agreed under this Contract, and submit the drawdown application to the Lender three (3any part thereof) 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 may be disbursed by the Borrower, the Borrower shall obtain consent Lender/Bank upon receiving a drawdown request 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 periodBorrower. The Borrower confirms that in entire Loan/Facility should be availed of within the event where all or part number of the loan was not drawn down upon the expiry of the drawdown periodmonths, 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 loan sanction, as specified in the expirySchedule (Availability Period). Where The Borrower's right to make drawls shall expire at the end of the Availability Period ("Drawdown End Date"). However, the Loan/Facility Sanction may be kept open at the sole discretion of the Lender/Bank for an additional period of such number of days beyond the Availability Period as the Bank/Lender may deem fit. If the Loan/Facility is not drawn completely by the Borrower fails within the Availability Period, then the Bank shall be entitled to complete either one impose penalty, if any , as mentioned in the Sanction Letter. The mode and manner of Disbursement is left to the sole discretion of the applicationsLender/Bank. (b) The Drawdown of the Facility shall be subject to the performance by the Borrower of all its undertakings to be performed under this Agreement. (c) Mode of Drawdown shall be in form of cheque/DD/online credit/cash as per the request made by Borrower in writing and the collection charges, if any, shall be borne by the Borrower. Disbursement shall be deemed to have been made to the Borrower on the date of Drawdown, by cheque or pay order as the case may be. (d) Drawdown of the Facility shall be made at the discretion of Lender either in lumpsum or tranches. In the event the disbursement is to be made in multiple tranches, the Drawdown of each tranche shall be made upon the Borrower delivering a Drawdown Notice to the Lender based on the need of the Borrower. The Drawdown Notice shall clearly specify the date of drawdown, amount, facility to be drawn, amount detail of the account for disbursment, date of disbursment. (e) Lender at its sole discretion, can any change in the prevailing rate of interest on the Facility, either due to change in its policies, or issuance of RBI guidelines and notifications with respect to the same or for any other reason whatsoever and in such an event the term 'Interest Rate' shall for all purposes mean the revised interest rate, which shall always be construed as agreed to be paid by the Borrower and hereby secured. (f) Without prejudice to any other provision of this Agreement, the Lender shall proceed with Drawdown of the Facility, upon the Borrowing duly satisfying the Conditions Precedent and delivering the duly completed Drawdown Notice in respect thereof specifying the matters referred to in Article 2.2(c). Provided that the Lender shall have the rights absolute discretion to postpone, refuse or cancel the undrawn loan amountDrawdown even if the Borrower is in compliance of all the Conditions Precedent. (5g) Notwithstanding Disbursement shall be made directly to Borrower or to any third party on the instruction of the Borrower, provided that the Borrower has provided a written instruction for the disbursement to third party. In case the purpose of Facility is to purchase a capital asset, the Lender shall make the disbursement in favour of the vendor selling such capital asset. (h) The Lender shall have the right to adjust PEMI or any other dues against any subsequent amount of the Facility due to be disbursed by the Lender to the Borrower. (i) The Borrower shall not be permitted to withdraw the Facility beyond the Availability Period unless extended by the Lender at its sole discretion and on such terms and conditions as agreed elsewhere may be acceptable to the Lender (including altering and re-scheduling the Repayment Schedule in this Contractsuch manner and to such extent as Lender may on its sole discretion, decide). Any amount not withdrawn by the Borrower by the end of the said Availability Period and/or extended time, if any, shall stand cancelled. Notwithstanding anything contained herein, the Lender may by notice to the Borrower (i) suspend the Drawdown and/or (ii) cancel further Drawdowns of the Facility and/or (iii) revise the Repayment Schedule at its sole and absolute discretion, if full Drawdown of the Facility does not take place on or before expiry of the Availability Period or such other period as may be decided by the Lender in accordance with the terms of this Agreement, for any reason whatsoever. The Borrower hereby acknowledges and agrees to be bound by such discretion of the Lender without any demur or protest or default whatsoever. (j) If so required by the Lender, the Borrower shall have acknowledge the rights receipt of each Drawdown, in the form and manner required by the Lender. The terms and conditions of this Agreement shall cover each tranche disbursed and all tranche together shall be treated as a single Facility for the purpose of this Agreement. (k) The Lender may, at its discretion, maintain appropriate entries in its books of accounts in relation to refuse the Facility and such entries shall be final and binding upon 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. (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 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. (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. (1) The Borrower shall make one-time drawdown or instalments instalment drawdown in accordance with the schedules drawdown plan as agreed under this ContractAgreement, and submit the drawdown application form (in the form attached as Annex I or Annex II hereto) to the Lender three (3) banking business days prior to the each drawdown date as agreed in this Contract for the processing of draw procedure (refer to Appendix 1 for format )drawdown procedure; (2) In the event that a change of the drawdown date such as postponement is required by the Borrower, the Borrower shall obtain consent from the Lender three (3) banking business days prior to the scheduled dayeach drawdown date, and the Lender shall have the right to require the Borrower to pay the Lender the loss of interest income as a result of such change (loss of interest income equals to = the interest the Lender should have earned from the loan deduct deducted by the interest earned through savings over the same periodperiod ).; (3) In the event that the Borrow wishes Borrower requests to cancel all or part of the undrawn loan amount, such cancellation may be made only if the Borrower shall obtain obtains the approval from the Lender by submitting an application to the Lender three (3) banking business days prior to the scheduled drawdown day date 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 drawdown or postponement of the drawdown upon the expiry of the scheduled drawdown date or drawdown period, the Lender may notify shall have the Borrower right to handle related procedure within three (3) banking days from cancel the date of the expiryundrawn loan. Where the Borrower fails to complete either one of the applications, the The Lender shall have the rights right to cancel waive one or more of the undrawn loan amount. (5) Notwithstanding the terms and above drawdown conditions as agreed elsewhere in this Contract, without prejudice to any right of the Lender shall have the rights to refuse the Borrower’s drawdown application and cancel all or part of the loan agreed in under this Contract, prior to any drawdown of the loanAgreement.