Drawing Power definition

Drawing Power in connection with the Facilities, means the drawing power of the Borrower to make drawals from time to time under each Facility upto the amount of the respective Limits but not exceeding the value of the Security Interest provided to the Bank for such Facility, less the corresponding Margin.
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Drawing Power in connection with the Facilities, shall mean the ability of the Borrower to make Drawdown from time to time under each of the Facilities up to the amount of the respective Available Limits but not exceeding the value of the current assets, if any, provided as Security to the Bank for such Facilities less the corresponding Margin or such other amount as may be ascertained by the Bank from time to time at its sole discretion. “Due Date” shall mean the date(s) on which the Indebtedness or any part becomes due and payable in terms of this Agreement and/or the other Transaction Documents.
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Drawing Power shall, for any Individual Facility (ies) mean the least of (i) Individual Facility limit for that Individual Facility, (ii) value of Security provided for that Individual Facility less margin or (iii) operative limit for that Individual Facility as decided by the Bank based on its assessment.
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Examples of Drawing Power in a sentence

  • If a CC / OD account is sanctioned against hypothecation of stock & book debts, the borrower has to submit the stock and book debt statements periodically to facilitate the Bank to determine Drawing Power under the account.

  • In the event of any exceeding or overdrawing, the Borrower shall bring down the drawal to the sanctioned Limit or Drawing Power, whichever is lower, as the case may be, immediately and shall also be liable to pay Penal Interest on the overdue amount or on the entire outstanding, at the discretion of the Bank, prevailing on from the date of exceeding upto the date of bringing down.

  • If a CC / OD account is sanctioned against hypothecation of stock & book debts, the borrower has to submit the stock and book debt statements periodically to facilitate lenders to determine Drawing Power under the account.

  • The Bank may however, at its own discretion, allow drawings beyond the Drawing Power, including ad hoc / temporary facilities and/or Temporary Overdraft Facilities (“XXX”), for such time as may be considered necessary and shall at any time without notice call upon the Borrower to repay such excess drawings.

  • The Borrower agrees that the drawings in the Cash Credit Account or other accounts shall be allowed to the extent of Drawing Power unless otherwise agreed to by the Bank.

  • Provided, however, the Bank may, at the specific request of the Borrower and at its sole and absolute discretion, allow drawals beyond such Drawing Power for such period as may be permitted by the Bank.

  • Further, the level of Creditors / Acceptances over and above the accepted level will be deducted while computing Drawing Power.

  • If a CC/OD account is sanctioned against hypothecation of stock & book debts, the borrower has to submit the stock and book debt statements periodically to facilitate lenders to determine Drawing Power calculated under the account.

  • The outstanding in the account based on the Drawing Power calculated from stock & Book debts statements older than three months would be deemed as ‘irregular’.

  • The outstanding in the account based on the Drawing Power calculated from stock & Book debts statements older than three months would be deemed as 'irregular'.


More Definitions of Drawing Power

Drawing Power means the threshold limit(s) assessed by the Lender, in its sole discretion from time to time which shall be within the overall sanctioned limit and shall determine the amount of
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Drawing Power means the threshold limit(s) assessed by the Lender, in its sole discretion from time to time, which shall be within the overall sanction limit and shall determine the amount of drawdown that can be requested by the Borrower at any given time under the Facility.
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Drawing Power means the aggregate value arrived at by reducing the market value of each Security after applying the Security Margin in respect of such Security.
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Drawing Power in connection with the relevant Facility shall mean the ability of the Borrower to make drawals from time to time under such Facility up to the amount of the respective Limit but not exceeding the value of the current assets (as may be determined by the Bank, from time to time), if any, provided as Security to the Bank for such Facility less the corresponding Margin or such other amount as may be ascertained by the Bank from time to time at its sole discretion.
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Drawing Power means the lesser of (i) Overall Facility Limit, and (ii) value of Primary Security provided, for the Facility less Margin as may be stipulated by the Bank from time to time.
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Drawing Power means the amount eligible for Loan after reduction of Security Margin on the Security Shares and the said margin may be fixed by the Lender at its sole discretion, depending upon the situation prevailing in the capital market from time to time. Changes done by the Lender in the Margin requirements shall come into immediate effect.
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Related to Drawing Power

  • Special Drawing Rights and the symbol “SDR” mean special drawing rights as valued by the International Monetary Fund in accordance with its Articles of Agreement”;

  • Drawing Date shall have the meaning set forth in Section 2.12(b) hereof.

  • Interest Drawing has the meaning assigned to such term in Section 3.6(a).

  • Drawing means the drawing or drawings specified in or annexed to the Specifications;

  • Record drawing or “as-builts” means a set of reproducible drawings which show significant changes in the work made during construction and which are usually based on drawings marked up in the field and other data furnished by the contractor.

  • Single Tranche means the amount of the Financing allocated to the category entitled “Single Tranche” in the table set forth in Part B of Section II of Schedule 1 to this Agreement.

  • Drawing Fee means, with respect to each Draft drawn by TCCI and purchased by any Person on any Drawing Date and subject to the provisions of Section 2.15, an amount equal to the product of (i) the Applicable Rate times the aggregate Face Amount of the Draft, multiplied by (ii) a fraction the numerator of which is the number of days in the term to maturity of such Draft and the denominator of which is 365 or 366, as applicable.

  • Partial Credit Payment means any payment, distribution or benefit that is not a Full Credit Payment.

  • Full Credit Payment means a payment, distribution or benefit, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, that if reduced in value by one dollar reduces the amount of the parachute payment (as defined in Section 280G of the Code) by one dollar, determined as if such payment, distribution or benefit had been paid or distributed on the date of the event triggering the excise tax. “Partial Credit Payment” means any payment, distribution or benefit that is not a Full Credit Payment.

  • Single Withdrawal Tranche means the amount of the Loan allocated to the category entitled “Single Withdrawal Tranche” in the table set forth in Part B of Section II of Schedule 1 to this Agreement.

  • L/C Disbursements a payment or disbursement made by the Issuing Lender pursuant to a Letter of Credit.

  • Maximum Drawing Amount means at the time in question the sum of the maximum amounts which LC Issuer might then or thereafter be called upon to advance under all Letters of Credit which are then outstanding.

  • Subordinate Certificate Writedown Amount As to any Distribution Date, the amount by which (i) the sum of the Class Principal Amounts of all the Certificates (after giving effect to the distribution of principal and the application of Realized Losses in reduction of the Certificate Principal Amounts of the Certificates on such Distribution Date) exceeds (ii) the aggregate Scheduled Principal Balance of the Mortgage Loans for such Distribution Date.

  • Available Funds Cap Any of the Class A-1 Available Funds Cap, the Class A-2 Available Funds Cap or the Weighted Average Available Funds Cap.

  • Liquidity Advance means a loan, advance, purchase or other similar action made by a Liquidity Provider pursuant to a Liquidity Agreement.

  • Preliminary Tranche Write-up Amount means, for a Payment Date, an amount equal to the Tranche Write-up Amount computed using the Preliminary Principal Loss Amount instead of the Principal Loss Amount.

  • L/C Disbursement means a payment or disbursement made by an Issuing Bank pursuant to a Letter of Credit.

  • Undercollateralized Amount As defined in Section 4.01(b)(iii).

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

  • Reimbursement Rate shall have the meaning assigned to such term or the term “Advance Rate” or an analogous term in the Servicing Agreement.

  • Final Drawing has the meaning specified in Section 3.05(i).

  • Application Unit means such number of Units or whole multiples thereof as specified in this Prospectus or such other whole multiple of Units determined by the Manager, approved by the Trustee and notified to the Participating Dealers.

  • Undercollateralized Group As defined in Section 4.03.

  • Appropriate Lender means, at any time, (a) with respect to Loans of any Class, the Lenders of such Class, (b) with respect to Letters of Credit, (i) the relevant L/C Issuer and (ii) the Revolving Credit Lenders and (c) with respect to the Swing Line Facility, (i) the Swing Line Lender and (ii) if any Swing Line Loans are outstanding pursuant to Section 2.04(a), the Revolving Credit Lenders.

  • Honor Date has the meaning specified in Section 2.03(c)(i).

  • Writedown Amount The reduction described in Section 5.03(c).