Examples of Draw Down Request in a sentence
For any Draw Down Request provided pursuant to this Section 2.1, the purchase price per Share shall be equal to $1.60, as adjusted from time to time to reflect fully the appropriate effect of any stock split, reverse stock split, stock dividend, reorganization, recapitalization, reclassification or similar change with respect to the Shares on or after the Closing Date (the “Draw Down Purchase Price”).
The issuance and sale of Shares to the Investor pursuant to any Draw Down Request or the Investor’s Elected Draw Down shall occur on the applicable Subsequent Funding Date in accordance with Section 2.6; provided, in each case, that all of the conditions precedent thereto set forth in Article VII theretofore shall have been fulfilled or (to the extent permitted by applicable law) waived.
The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the applicable Draw Down Request Exercise Date and the Closing Date or Subsequent Funding Date, as applicable.
Upon the terms and subject to the conditions and limitations of this Agreement, the Company may, in its sole discretion, from time to time during the Term, no later than 9:30 a.m. (New York time) on any Business Day, provide to the Investor a Draw Down Request notice, substantially in the form attached hereto as Exhibit A (the “Draw Down Request Notice”), which Draw Down Request Notice shall become effective at 9:30 a.m. (New York time) on such Business Day.
Prior to each Draw Down Request Exercise Date, the Investor shall have received an opinion from outside counsel to the Company in the form mutually agreed to by the parties hereto.
The payment for, against delivery of, Shares in respect of each Draw Down Request (other than the Initial Purchase) shall be settled on the applicable Subsequent Funding Date.
Whilst the Kenyan banking sector is the largest in terms of assets in the financial services industry, it is not the largest supplier of credit (Ahmed and Karunditu, 2010).
The obligation hereunder of the Company to issue and sell the Shares to the Investor under the Initial Draw Down Request and any additional Draw Down Request is subject to the satisfaction or (to the extent permitted by applicable law) waiver of each of the conditions set forth below.
Subject to the requirements of Section 5.7 of this Agreement, from time to time from and after the period beginning with the applicable Draw Down Request Exercise Date through and including the applicable Subsequent Funding Date, the Company shall make available for inspection and review by the Investor, customary documentation allowing the Investor and its appointed counsel or advisors to conduct due diligence.
In consideration of and in express reliance upon the representations, warranties and covenants, and otherwise upon the terms and subject to the conditions, of this Agreement, from and after the Closing Date and during the Term (i) the Company shall issue and sell to the Investor, and the Investor agrees to purchase from the Company, the Shares in respect of each Draw Down Request and (ii) the Investor may purchase the Shares in respect of the Investor’s Elected Draw Down in accordance with Section 2.10.