Utilisation. 4.1 On the Initial Closing Date, the Expenses Loan Provider made an Advance in the aggregate amount of £45,650,000 (the Initial Advance) to Loan Note Issuer No.1, which shall be deemed to be three separate Advances as follows:
(a) the first advance being in the amount of £35,000,000 for the credit of the Series Cash Reserve Account (the First Advance);
(b) the second advance being in the amount of £8,750,000 for the credit of the Programme Reserve Account (the Second Advance); and
(c) the third advance being in the amount of £1,900,000 for the credit of the Loan Note Issuer No.1 Distribution Account (the Third Advance, and together with the First Advance and the Second Advance, the 2013 Advances).
4.2 Loan Note Issuer No.1 may utilise the Facility on any Closing Date by delivering to the Expenses Loan Provider by no later than the close of business on the Business Day prior to such Closing Date a Utilisation Request.
4.3 Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:
(a) the proposed Utilisation Date is a Business Day which corresponds with a Closing Date; and
(b) it specifies the amount of each Advance to be made pursuant to the Utilisation Request.
4.4 One or more Advances may be requested in each Utilisation Request.
4.5 Loan Note Issuer No.1 is deemed to repeat the representations set out in Clause9 (Representations of Loan Note Issuer No.1 and the Expenses Loan Provider) on the date of each Utilisation Request.
4.6 If the Expenses Loan Provider decides, in its absolute discretion, to make an Advance pursuant to the Utilisation Request, the Expenses Loan Provider will deliver to Loan Note Issuer No. 1, by no later than the close of business on the Business Day prior to the Closing Date on which such Advance is to be made, a Utilisation Notice specifying the terms on which the Advance will be made including, without limitation, the Applicable Margin in respect of each Advance. A Utilisation Notice may specify the terms of one or more Advances requested pursuant to a Utilisation Request.
4.7 The Expenses Loan Provider may also specify in a Utilisation Notice any increase which it proposes to make to the Facility Limit.
4.8 By no later than the close of business on the Business Day prior to the Closing Date on which an Advance is to be made, Loan Note Issuer No.1 will deliver a Utilisation Confirmation to the Expenses Loan Provider confirming the terms of each Advance and the increase in the Facility...
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 up to three advances.
4.3 The Borrower agrees to pay to Navios an arrangement fee of four hundred thousand Dollars ($400,000) 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 25,000,000 or a higher multiple of EUR 1,000,000 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. 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. 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. UTILISATION
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. (a) The Borrower may utilize the Facility by delivering to the Lender a duly completed written utilisation request substantially in the form of Schedule 1 (Form of Utilisation Request) ("Utilisation Request") not later than 12 pm (noon) (Stuttgart time) on the fifth Business Day prior to the proposed Utilisation Date.
(b) Each Utilisation Request will not be regarded as having been duly completed unless:
(i) it sets out:
(A) the amount to be utilized (the "Utilisation Amount") which complies with paragraph (c) below;
(B) the details of the Borrower's bank account; and
(C) the purpose for which Utilisation Amount shall be used, with sufficient details for the Lender to reconcile such Utilisation Amount against the reports to be delivered under Clause 3.1(b) (Purpose) and Clause 10.1 (Information Undertakings); and
(ii) the proposed Utilisation Date is a Business Day within the Availability Period.
(c) The US Dollar amount of each proposed Loan must be less than or equal to the Available Commitment.
(d) If the conditions in this Agreement have been met, the Lender shall make each Loan available by the relevant Utilisation Date.
