Common use of LOAN REDRAWS Clause in Contracts

LOAN REDRAWS. (a) The OF Manager must notify the SF Manager by such time as they may agree on each Business Day all amounts payable by the Note Holder on that Business Day to a Facility Provider under or in respect of the Card and Cheque Facilities to fund redraws under Redraw Facilities provided by the Issuer (REDRAW AMOUNT). (b) The Issuer must and the SF Manager must cause the Issuer to pay to the Note Holder on each Business Day an amount equal to the Redraw Amount for that Business Day. The amount payable under this clause 3.2(b) must be paid by such time as the parties may from time to time agree.

LOAN REDRAWS. (a) The OF Manager must notify the SF Manager by such time as they may agree on each Business Day all amounts payable by the Note Holder on that Business Day to a Facility Provider under or in respect of the Card and Cheque Facilities to fund redraws under Redraw Facilities provided by the Issuer (REDRAW AMOUNTRedraw Amount). (b) The Issuer must and the SF Manager must cause the Issuer to pay to the Note Holder on each Business Day an amount equal to the Redraw Amount for that Business Day. The amount payable under this clause 3.2(b) must be paid by such time as the parties may from time to time agree.