Common use of Method, Terms and Conditions of Drawdowns Clause in Contracts

Method, Terms and Conditions of Drawdowns. (a) Each application for a letter of credit shall be deemed a drawdown on the loan hereunder. After the Applicant deposits a security bond in the amount required by the Bank, the Applicant may apply to the Bank for a drawdown by submitting a loan drawdown application or an application for a letter of credit together with relevant transaction documents. (b) If the Applicant pays a third party for goods through methods other than a letter of credit, including D/P, D/A, O/A, T/T or other means, it may, subject to the Bank’s consent, submit a loan drawdown application and transaction documents to apply to draw down an amount equivalent to % of the value of the transaction(s) concerned; provided, however, that the repayment period for each loan shall not exceed days.

Method, Terms and Conditions of Drawdowns. (a) Each application for a letter of credit shall be deemed a drawdown on the loan hereunder. After the Applicant deposits a security bond in the amount required by the Bank, the Applicant may apply to the Bank for a drawdown by submitting a loan drawdown application or an application for a letter of credit together with relevant transaction documents. (b) If the Applicant pays a third party for goods through methods other than a letter of credit, including D/P, D/A, O/A, T/T or other means, it may, subject to the Bank’s 's consent, submit a loan drawdown application and transaction documents to apply to draw down an amount equivalent to % of the value of the transaction(stransaction (s) concerned; provided, however, that the repayment period for each loan shall not exceed days.

Method, Terms and Conditions of Drawdowns. (a) a. Each application for a letter of credit shall be deemed a drawdown on the loan hereunder. After the Applicant deposits a security bond in the amount required by the Bank, the Applicant may apply to the Bank for a drawdown by submitting a loan drawdown application or an application for a letter of credit together with relevant transaction documents. (b) b. If the Applicant pays a third party for goods through methods other than a letter of credit, including D/P, D/A, O/A, T/T or other means, it may, subject to the Bank’s consent, submit a loan drawdown application and transaction documents to apply to draw down an amount equivalent to % of the value of the transaction(s) concerned; provided, however, that the repayment period for each loan shall not exceed days.