Examples of Drawdown Notice in a sentence
Each Drawdown Notice for a Letter of Credit shall be accompanied by a Letter of Credit Application, completed and duly executed and delivered by the applicable Borrower, and shall be governed by and subject to the Lender’s customary Letter of Credit terms and procedures from time to time in effect.
Any Drawdown Notice made pursuant to Section 2.5(1) shall be irrevocable and the applicable Borrower shall be bound to borrow the funds requested therein in accordance therewith.
Each Drawdown Notice shall contain summary details of any proposed Investment to which it relates (if any), including the nature of the business carried on by the proposed Portfolio Company and confirmation by the Manager that the proposed Investment falls within the Investment Policy, if applicable, providing reasons for such conclusion.
Each Drawdown Notice must specify the Borrower’s requested Type of Advance, Drawdown Date (which must be a Business Day), Principal Amount and the Contract Period or Interest Period, if applicable.
Loan Commitments shall be advanced in such tranches and on such dates as shall be determined by the Manager and specified in a Drawdown Notice given by the Manager to the Investors not less than 10 Business Days prior to the date so specified.