Final Drawdown Date definition
Examples of Final Drawdown Date in a sentence
Any Lender shall have the right at any time before the fourteenth (14th) day prior to the Final Drawdown Date, upon written notice to the Borrower, to reduce the Facility to sixty-five percent (65%) of the final delivered cost of the Vessel.
The Borrower shall pay, for the account of the Lenders, a fee (the “Commitment Fee”) equal to (i) seventeen and one-half of one percent (17.5%) of the Applicable Margin from December 7, 2007 through March 31, 2010, and (ii) thirty-five percent (35%) of the Applicable Margin from April 1, 2010 until the Final Drawdown Date, in each case, on the average undrawn portion of the Facility.
The Borrower shall have the right, at any time after the Final Drawdown Date while interest is calculated on a Base Rate Basis and during the last 5 Business Days of any Interest Period while interest is calculated on a LIBOR Basis, to request the Bank to quote fixed percentage rates per annum for a fixed period, within the remaining term of the Facility, of between one and ten years (or such other period as the Bank may at its discretion offer).
Advance I on the Initial Drawdown Date, Advance II on the Second Drawdown Date, and Advance III on the Final Drawdown Date.
Any Borrowing of Initial Loans by the Company on the Final Drawdown Date shall be deemed to be a representation by the Company that the Major Representations are correct in all material respects on and as of such date and after giving effect to the Initial Loans requested to be made on such date.