Each Drawdown Sample Clauses

Each Drawdown. With respect to each Drawdown (including the Initial Drawdown) of the Facility by the Borrower, the obligations of the Banks to perform their Commitments pursuant to this Agreement are also subject to the following conditions precedent:
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Each Drawdown. 3.2.1. Subject to the Borrower having fully complied with or performed the conditions precedent to Drawdown as set out in this Agreement, the Borrower may, at any time, with at least three Business Day prior written notice to the Agent in the form of EXHIBIT I hereto ("Drawdown Request"), request a Drawdown of the Loans in accordance with the terms and conditions set out in this Agreement. Each Bank shall, upon such request and to the extent of its respective Commitment, make such Loans to the Borrower in accordance with its Commitment Ratio; provided, that its obligation to make such Loans is subject to the condition that none of the following circumstances shall have occurred prior to such request for drawdown: (a) such Drawdown will cause the total Loan outstanding hereunder to exceed the total available Commitment; (b) the Drawdown will cause the Loan outstanding with respect to any Bank hereunder to exceed its then available Commitment or to exceed its Commitment Ratio; (c) the Drawdown Date will be later than the Commitment Termination Date; or (d) the Drawdown otherwise does not comply with the terms and conditions of this Agreement.
Sample 1
Each Drawdown. 3.2.1. Subject to the Borrower having fully complied with or performed the conditions precedent to Drawdown as set out in this Agreement, the Borrower may, at any time, with at least three Business Day prior written notice to the Agent in the form of EXHIBIT I hereto ("Drawdown Request"), request a Drawdown of the Loans in accordance with the terms and conditions set out in this Agreement. Each Bank shall, upon such request and to the extent of its respective Commitment, make such Loans to the Borrower in accordance with its 8 Commitment Ratio; provided, that its obligation to make such Loans is subject to the condition that none of the following circumstances shall have occurred prior to such request for drawdown: (a) such Drawdown will cause the total Loan outstanding hereunder to exceed the total available Commitment; (b) the Drawdown will cause the Loan outstanding with respect to any Bank hereunder to exceed its then available Commitment or to exceed its Commitment Ratio; (c) the Drawdown Date will be later than the Commitment Termination Date; or (d) the Drawdown otherwise does not comply with the terms and conditions of this Agreement. 3.2.2. Provided that the conditions described above have been met with respect to the requested Drawdown, the Agent shall immediately accept the Drawdown Request on behalf of the Banks. Each Drawdown Request, once accepted by the Agent, shall be irrevocable and binding on the Borrower. Following the acceptance of such Drawdown Request, if the Borrower is unable to satisfy the conditions precedent to drawdown as specified in Section VI hereof, resulting in the Banks unable to advance in whole or in part the requested drawdown, the Borrower shall, at the demand of the Agent, reimburse the Banks for all reasonable and necessary expenses and direct losses (the Banks making such claims shall provide evidence therefor) in connection therewith. 3.2.3. Upon its receipt by fax of a Drawdown Request from the Borrower, the Agent shall notify each Bank in writing (in form of Exhibit II hereto), stating the date on which each Bank is to make available its Loan and the amount to be advanced by each Bank in accordance with its respective Commitment Ratio. Each Bank shall, pursuant to such notice and this Agreement, make available such Loans in immediately available funds not later than 12:00 noon time on the Drawdown Date as specified in the Drawdown Request and to the account designated by the Agent. Unless notified prior to the Dr...
Sample 1
Each Drawdown. With respect to each Drawdown (including the Initial Drawdown) of the Facility by the Borrower, the 16 obligations of the Banks to perform their Commitments pursuant to this Agreement are also subject to the following conditions precedent: (1) The Agent shall have received, on or before at least 3 Business Days (at 10:00 am) prior to the requested date for each such Drawdown, the Drawdown Request duly executed by the Borrower; and (2) As of each Drawdown Date, no event which restricts or prevents proceeding of the Acquisition has occurred. ARTICLE VII.
Sample 1

Related to Each Drawdown

  • Notice to Banks; Funding of Loans (a) Upon receipt of a Notice of Borrowing, the Administrative Agent shall promptly notify each Bank of the contents thereof and of such Bank's share (if any) of such Borrowing and such Notice of Borrowing shall not thereafter be revocable by the Borrower.

  • Each Credit Event The obligation of each Lender to make a Loan on the occasion of any Borrowing, and of the Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to the satisfaction of the following conditions:

  • Application of Prepayments of Loans to Base Rate Loans and Eurodollar Rate Loans Considering each Class of Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to Eurodollar Rate Loans, in each case in a manner which minimizes the amount of any payments required to be made by Borrower pursuant to Section 2.18(c).

  • Conditions to Each Credit Event The obligation of each Lender to make a Loan on the occasion of any Borrowing and of each Issuing Bank to issue, amend, renew or extend any Letter of Credit is subject to Section 2.26(c) and the satisfaction of the following conditions:

  • Conditions Precedent to Each Borrowing and Issuance The obligation of each Appropriate Lender to make an Advance (other than a Letter of Credit Advance made by an Issuing Bank or a Working Capital Lender pursuant to Section 2.03(c)) on the occasion of each Borrowing (including the initial Borrowing), and the obligation of each Issuing Bank to issue a Letter of Credit (including the initial issuance), shall be subject to the further conditions precedent that on the date of such Borrowing or issuance (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing or Notice of Issuance and the acceptance by the Borrower of the proceeds of such Borrowing or of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Borrowing or issuance such statements are true):

  • Conditions Precedent to Each Credit Event The occurrence of each Credit Event (including the initial Borrowing) is subject to the further conditions that:

  • Conditions Precedent to Each Borrowing The obligation of each Lender to make an Advance on the occasion of each Borrowing shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing the following statements shall be true (and each of the giving of the applicable Borrowing Notice and the acceptance by the Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the Borrower that on the date of such Borrowing such statements are true):

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