Common use of The Loan Facility Clause in Contracts

The Loan Facility. 2.1.1. In reliance of the representations and undertakings of Xxxxx hereunder and subject to the terms and conditions of this Agreement, IC makes available to Xxxxx a USD facility in an aggregate amount not to exceed the Loan Facility Cap Amount (the “Loan Facility”). 2.1.2. Subject to the terms and conditions of this Agreement (including the conditions set out in Section 2.1.3), Xxxxx may, from time to time during the Availability Period, request to drawdown one or more loan(s) (each, a “Loan”) under the Loan Facility, by submitting to IC, not less than 10 (ten) Business Days (or such shorter period as IC may in its absolute discretion agree) before any Loan is requested to be made, a notice substantially in the form attached hereto as Schedule 1 (the “Drawdown Notice”). 2.1.3. Xxxxx may submit a Drawdown Notice, which will not be regarded as having been duly completed unless all of the following conditions are satisfied - (a) the date specified in the Drawdown Notice for the drawdown of the Loan falls within the Availability Period; and (b) Xxxxx has created the relevant pledges in accordance with Section 7.3.1, and has delivered duly executed security documents in accordance with Section 7.3.1 in form and substance agreed between the Parties and satisfactory to IC together with evidence agreed between the Parties and satisfactory to IC that each pledge granted pursuant hereto (or any amendment thereto, as applicable) has been duly filed for registration with the applicable public registry in all relevant jurisdictions. 2.1.4. Subject to the terms and conditions of this Agreement, IC shall provide the Loan requested by Xxxxx in a Drawdown Notice in accordance with this Agreement, by bank transfer to Xxxxx’x bank account in accordance with transfer instructions to be specified in the Drawdown Notice. 2.1.5. Xxxxx may apply all amounts borrowed by it under the Loan Facility towards its general corporate purposes or any other purpose approved by its directors. IC shall not be bound or responsible to monitor or verify the application of any amount borrowed pursuant to this Agreement. 2.1.6. Xxxxx may request to cancel any unutilized amount of the Loan Facility by submitting a written notice to IC, not less than 5 (five) Business Days (or such shorter period as IC may in its absolute discretion agree) before such cancellation is requested to be made, specifying the requested cancellation date of the Loan Facility and the unutilized amount of the Loan Facility to be cancelled, and as of such date all rights and obligations of the Parties under this Agreement with respect to such unutilized amount of the Loan Facility.