Fixed Draw Down Notice Clause Samples
A Fixed Draw Down Notice clause defines the process by which a borrower formally requests to access a predetermined portion of loan funds from a lender. Typically, this clause outlines the required format, timing, and conditions for submitting a notice, such as specifying the amount to be drawn and the intended drawdown date. Its core practical function is to ensure both parties have a clear, documented procedure for disbursing loan funds, thereby reducing misunderstandings and facilitating smooth loan administration.
Fixed Draw Down Notice. At least 15 Trading Days shall elapse between the completion of the settlement, in accordance with Section 3.5(a) and (c) below, of a Draw Down with respect to which a Fixed Draw Down Notice was delivered and the delivery of any Fixed Draw Down Notice or Regular Draw Down Notice for any other Draw Down during the Investment Period.
Fixed Draw Down Notice. With respect to any Draw Down pursuant to a Fixed Draw Down Notice received by the Investor in accordance with Section 3.1(a) hereof, the settlement thereof shall occur not later than the first Trading Day next following the applicable Draw Down Exercise Date.
Fixed Draw Down Notice. If each of the Equity Conditions have been satisfied as of the applicable Draw Down Exercise Date, then from time to time during the Investment Period, the Company may, in its sole discretion, no later than 4:30 p.m. (New York City time) on the applicable Draw Down Exercise Date, provide to the Investor a Fixed Draw Down Notice, substantially in the form attached hereto as Exhibit B-1 (the “Fixed Draw Down Notice”), which Fixed Draw Down Notice shall become effective upon receipt thereof by the Investor on the applicable Draw Down Exercise Date, and directing the Investor to purchase a specified Draw Down Amount Requested (which shall not exceed the Maximum Fixed Draw Down Amount Requested). Upon the terms and subject to the conditions of this Agreement, the Investor is obligated to accept each Fixed Draw Down Notice prepared and delivered in accordance with the provisions of this Agreement and shall purchase from the Company the Shares subject to such Fixed Draw Down Notice at the applicable Fixed Purchase Price on the
Fixed Draw Down Notice. If each of the Equity Conditions have been satisfied as of the applicable Draw Down Exercise Date, then from time to time during the Investment Period, the Company may, in its sole discretion, no later than 4:30 p.m. (New York City time) on the applicable Draw Down Exercise Date, provide to the Investor a Fixed Draw Down Notice, substantially in the form attached hereto as Exhibit B-1 (the "FIXED DRAW DOWN NOTICE"), which Fixed Draw Down Notice shall become effective upon receipt thereof by the Investor on the applicable Draw Down Exercise Date, and directing the Investor to purchase a