Common use of Precedents before first drawdown Clause in Contracts

Precedents before first drawdown. (1) Project to which the Loan is granted has been reviewed, approved or put on record by relevant authorities, unless such review, approval and filing is not required; (2) Project capital fund or other funding is injected in full in accordance with the required timetable and ratio; (3) Except in the case of credit loan, the Borrower has completed all relevant pledge procedures as required by the Lender; (4) Completed the submission of Drawdown Notification Form to the Lender.

Precedents before first drawdown. (1) Project to which the Loan is granted has been reviewed, approved or put on record by relevant authorities, unless such review, approval and filing is not required; (2) Project capital fund or other funding is injected in full in accordance with the required timetable and ratioratio ; (3) Except in the case of credit loan, the Borrower has completed all relevant pledge procedures as required by the Lender; (4) Completed the submission of Drawdown Notification Form to the Lender; (5) Any other information as requested by the Lender.