Utilisation Sample Clauses
Utilisation. 4.1 Conditions to Utilisation Save as otherwise provided in this Agreement, an Advance will be made by the Lenders to a Borrower or a Documentary Credit will be issued by an L/C Bank at a Borrower’s (other than the US Borrower’s) request if:
(a) in the case of an Advance, the Facility Agent has received from such Borrower a duly completed Utilisation Request in the relevant form, and in the case of a Documentary Credit, both the Facility Agent and the L/C Bank have received from a Borrower (other than the US Borrower) a duly completed Utilisation Request in the relevant form, in each case, no earlier than the day which is 10 Business Days and no later than 2:00 p.m. on the day which is 3 Business Days (or in the case of any Documentary Credit which is not or will not be in the form of Schedule 12 (Form of Documentary Credit), no later than 2:00 p.m. on the day which is 5 Business Days) prior to the proposed Utilisation Date for such Advance or Documentary Credit, receipt of which shall oblige such Borrower to utilise the amount requested on the Utilisation Date stated therein upon the terms and subject to the conditions contained in this Agreement;
(b) the proposed Utilisation Date is a Business Day for the proposed currency of the Advance or Documentary Credit, as the case may be, which is or precedes the relevant Termination Date;
(c) in the case of a Utilisation by way of Term Facility Advance, such Utilisation would result in the maximum principal amount of the Term Facility Advance being utilised, or in the case of a Utilisation by way of a Revolving Facility Advance, such Utilisation occurs on or after the maximum principal amount of the Term Facility being utilised and, the proposed Sterling Amount of such Revolving Facility Advance is (i) equal to the amount of the Available Revolving Facility Commitment at such time, or (ii) less than such amount but equal to a minimum of £5 million, or an integral multiple of £1 million;
(d) in the case of a Utilisation by way of Documentary Credit, the proposed Sterling Amount of such Documentary Credit is (i) equal to the amount of the Available Revolving Facility or (ii) less than such amount but equal to or more than £1 million or such lesser amount as the L/C Bank may agree;
(e) in the case of a Utilisation by way of a Revolving Facility Advance, immediately after the making of such Advance there will be no more than 10 Revolving Facility Advances then outstanding;
(f) in the case of a Utilisation by way of ...
Utilisation. The Loan shall be utilised in full on the Utilisation Date by payment from the Lender to an account nominated by the Borrower.
Utilisation. 4.1 The Borrower must provide Navios with a Drawdown Notice at least one Business Day before stating the date on which Navios is to make the Loan available to the Borrower (the Term Date) and to be credited to an account to be nominated by the Borrower:
4.2 The Loan may be borrowed in multiple advances.
4.3 The Borrower agrees to pay to Navios an arrangement fee of six hundred thousand Dollars ($600,000) on the date of the first advance under the Loan.
4.4 The Loan is for general corporate purposes.
Utilisation. The Lender shall advance the Loan to the Borrower on the Closing Date by paying, in South African Rands, an amount equal to the Commitment, direct to the Project Company into an account separately advised by the Project Company to the Lender in writing. The Borrower agrees that the said payments shall discharge the obligation of the Lender to advance the Loan to the Borrower.
Utilisation. The Bank is not obliged to make a Loan available if:
(a) on the date of the Utilisation Request or on the Utilisation Date an Event of Default or Default is continuing or would result from that Loan;
(b) the Borrower has issued a notice pursuant to Clause 8.5 Notification of Default;
(c) the Utilisation Date is not a Business Day within the Availability Period;
(d) the amount of the Loan is not at least EUR 150,000,000 and the currency of the Loan does not comply with Clause 2 Facility;
(e) the Interest Period does not comply with Clause 5.1
Utilisation. UTILISATION
Utilisation. This DEFERRED PAYMENT FACILITY will be utilised subject in particular to the provisions of Articles 3.5 and 11 of the AGREEMENT and to the presentation by ALCATEL to KBI of the following documents for the relevant consignment of EQUIPMENT:
Utilisation. The Factor may draw from the Holdback Reserve the sums necessary to cover a debit position of the relevant Current Account. In such case, the contractual percentage and/or threshold shall be immediately reconstituted with amounts resulting from the Assignments of new Transferred Receivables or, failing such Assignments, with cash transferred by the relevant French Sellers upon request from the Factor, it being understood that the relevant French Seller shall make the requested cash payment within five (5) Business Days from such request. Upon termination of the relationship between the Parties or at any other time as agreed between the Factor and the relevant French Seller, the remaining balance (if it is positive) of the Holdback Reserve, as calculated on the basis of the amounts of all Transferred Receivables outstanding (including VAT) and the Specific Reserve fifteen (15) Business Days prior to the agreed restitution date, may be restituted to the relevant French Seller, in which case it shall be transferred to the credit of the relevant Current Account on the agreed restitution date.
Utilisation. 5.1 The Borrower may request the Loan by delivering a notice to the Lender not later than 10 am two Business Days prior to the proposed Utilisation Date (or such other period as the Lender may agree).
5.2 That notice is irrevocable and must specify:
(a) the proposed Utilisation Date (being a Business Day within the Availability Period);
(b) the amount of the Facility to be drawn (which must not exceed £1,946,500); and
(c) the account to which the Loan should be credited.
Utilisation. 3.1 The Borrower may utilise the facility from time to time by delivery to the Lender of (i) a duly completed utilisation request in the form attached hereto at Schedule 3 and (ii) an Updated Seller Parties Disclosure Schedule sufficiently in advance prior to the contemplated date of extension of the Loan. Any amount proposed to be utilised shall always exceed the equivalent in USD of EUR 1,000,000, provided that any Updated Seller Parties Disclosure delivered pursuant to this Section 3.1 shall not be counted as a Disclosure Schedule Request (as defined under the Option Purchase Agreement) pursuant to Section 1.1(b)(ii)(A) of the Option Purchase Agreement.
3.2 Upon receipt of such utilization request and an Updated Seller Parties Disclosure Schedule, the Lender shall make available the Loan to the Borrower by means of payment of the same into the Borrower’s account the particulars of which shall be specified in the utilisation request.
3.3 The Loan will be disbursed in one amount on the Utilisation Date and any amount not drawn will be immediately cancelled.
3.4 Notwithstanding anything to the contrary contained in any other agreement between the parties, including without limitation Section 5.1(i) of the Preferred Stock Purchase Agreement, Lender hereby expressly consents to any utilization request submitted by the Borrower hereunder.