Completion of a Utilisation Request Sample Clauses
Completion of a Utilisation Request. (a) Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:
(i) the proposed Utilisation Date is a Business Day within the Availability Period;
(ii) the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount); and
(iii) the proposed Interest Period complies with Clause 10 (Interest Periods).
(b) Only one Loan may be requested in each Utilisation Request.
Completion of a Utilisation Request. (a) Each Utilisation Request for a Loan is irrevocable and will not be regarded as having been duly completed unless:
(i) it specifies that it is for a Loan;
(ii) it identifies the Facility to be utilised;
(iii) the proposed Utilisation Date is a Business Day within the Availability Period applicable to that Facility;
(iv) the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount);
(v) the proposed Interest Period complies with Clause 13 (Interest Periods); and
(vi) it specifies the account and bank (which must be in the principal financial centre of the country of the currency of the Utilisation or, in the case of euro, the principal financial centre of a Participating Member State in which banks are open for general business on that day or London) to which the proceeds of the Utilisation are to be credited.
(b) Only one Loan may be requested in each Utilisation Request.
Completion of a Utilisation Request. (a) Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:
(i) the proposed Utilisation Date is a Business Day within the Availability Period;
(ii) the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount);
(iii) the proposed Interest Period complies with Clause 9 (Interest Periods); and
(iv) it specifies the account to which the proceeds of the Utilisation are to be credited.
(b) Only one Loan may be requested in each Utilisation Request.
Completion of a Utilisation Request. (a) Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:
(i) the proposed Utilisation Date is a Business Day within the Availability Period;
(ii) the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount);
(iii) the proposed Interest Period complies with Clause 10 (Interest Periods); and
(iv) it specifies the account and bank (which must be in the principal financial centre of the country of the currency of the Utilisation or, in the case of euro, the principal financial centre of a Participating Member State in which banks are open for general business on that day or London) to which the proceeds of the Utilisation are to be credited.
(b) Only one Loan may be requested in each Utilisation Request.
Completion of a Utilisation Request. Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:
Completion of a Utilisation Request. (a) Subject to Clause 5.8 (Affiliate of a Borrower) and paragraph (f) below, each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:
(i) it identifies the relevant Borrower and the type of L/G (and for the purposes of COGS, standby letters of credit include commercial or trade letters of credit);
(ii) it identifies the relevant Issuing Bank and whether it is to be issued by one or several Issuing Banks (and in the latter case in which portions);
(iii) it identifies the proposed Utilisation Date which is a Business Day falling within the Availability Period;
(iv) it identifies the amount and currency of the requested L/G;
(v) the L/G is denominated in the Base Currency or an Optional Currency;
(vi) the amount of the L/G requested is an amount whose Base Currency Amount is not more than the Available Facility and the Available Commitment of the Issuing Bank;
(vii) a form of the relevant requested L/G as outlined in Clause 3.1 (Purpose) is (x) attached, (y) agreed with the relevant Issuing Bank and (z) satisfies the L/G Approved Criteria;
(viii) the obligor of the obligations secured by the L/G is the respective Borrower, the beneficiary of the L/G is identified and the underlying contract is specified;
(ix) it specifies the expiry date specified in the relevant L/G or, as the case may be, the expiry date of the Commercial Lifetime of the relevant L/G; and
(x) the delivery instructions for the L/G are specified.
(b) The Agent shall in no event be held responsible for a non - or a delayed processing of any Utilisation Request (irrespective of whether made through COGS or otherwise) unless such delayed processing is caused by gross negligence or wilful misconduct on the part of the Agent. As the Agent will not, in the event of a Utilisation Request or other information submitted by telefax, letter or email, be in a position to verify whether any document received as a Utilisation Request has been duly authorised and sent by the relevant Borrower, the Company and each Borrower agrees that the Agent shall be entitled to execute all Utilisation Requests hereunder received by telefax, letter or email or with respect to which further information was delivered by telefax, letter or email if on their face such telefaxes, letters or emails appear to be duly authorised and executed by persons acting on behalf of the Company and/or the relevant Borrower who have been identified as authorised signatories in accordance with th...
Completion of a Utilisation Request. (a) Each Utilisation Request for a Revolving Facility Loan is irrevocable and will not be regarded as having been duly completed unless:
(i) the proposed Utilisation Date is a Business Day within the Availability Period applicable to the Revolving Facility;
(ii) the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount); and
(iii) the proposed Interest Period complies with Clause 12 (Interest Periods).
(b) Only one Utilisation may be requested in each Utilisation Request.
Completion of a Utilisation Request. 5.2.1 A Utilisation Request will not be regarded as having been duly completed unless:
(a) the proposed Utilisation Date is a Business Day within the Availability Period; and
(b) the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount).
5.2.2 Only one Loan may be requested in a Utilisation Request.
Completion of a Utilisation Request. (a) Each Utilisation Request delivered to the Facility Agent pursuant to Clause 5.1 (Delivery of a Utilisation Request) is irrevocable and will not be regarded as having been duly completed unless:
(i) the proposed Utilisation Date is a Business Day within the Availability Period;
(ii) the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount); and
(iii) the proposed Interest Period complies with Clause 10 (Interest Periods).
(b) Only one Advance may be requested in each Utilisation Request delivered to the Facility Agent pursuant to Clause 5.1 (Delivery of a Utilisation Request).
Completion of a Utilisation Request. (A) Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:
(i) the proposed Utilisation Date is a Business Day within the Availability Period;
(ii) the amount of the Utilisation complies with clause 6.4 (Amount); and
(iii) the proposed Interest Period complies with clause 12 (Interest Periods).
(B) Only one Loan may be requested in each Utilisation Request and a maximum of 3 Utilisation Requests may be requested in any one month.
(C) A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation 10 or more Loans would be outstanding.