Common use of Pre-funding Clause in Contracts

Pre-funding. 24.1 The Lender may, at its absolute discretion, and if agreed with you, agree to transfer to you or your solicitors all or part of the Loan to be advanced on the first Drawdown Date notwithstanding that the conditions to the availability of the Loan specified in paragraph 3 have not been satisfied (a "Pre Funding Advance"). Any such transfer shall not constitute a waiver of any of the conditions specified in paragraph 3 and the sums transferred shall, unless and until the Lender confirms that all of the requirements of paragraph 3 above have been satisfied, be repayable immediately upon demand by the Lender.

Pre-funding. 24.1 The Lender may, at its absolute discretion, and if agreed with you, agree to transfer to you or your solicitors all or part of the Loan to be advanced on the first Drawdown Date notwithstanding that the conditions to the availability of the Loan specified in paragraph 3 have not been satisfied (a "Pre Funding Advance")) . Any such transfer shall not constitute a waiver of any of the conditions specified in paragraph 3 and the sums transferred shall, unless and until the Lender confirms that all of the requirements of paragraph 3 above have been satisfied, be repayable immediately upon demand by the Lender.