Examples of Request for Draw in a sentence
This request (Appendix G – Request for Draw) must be made prior to the payroll cutoff date and payment will be made on the 15th of the month, or the first working date following if the 15th of the month falls on a weekend.
Draws on the Note shall be initiated by the City by delivering to the Purchaser, at the address provided in the Note Purchase Agreement, a Request for Draw signed by the Mayor, in substantially the form attached hereto as Exhibit B, which delivery may be by facsimile or electronic transmission.
Unless the Purchaser agrees to a shorter notice period, each Request for Draw shall be delivered to the Purchaser by 11:00 a.m. Texas time not later than two Business Days prior to the date such Draw is to be made.
On the date specified in each Request for Draw, the Purchaser shall transfer the amount of the Draw requested by such Request for Draw, by wire transfer of immediately available funds, pursuant to the wire instructions set forth in the Request for Draw.
The Mayor is hereby authorized and directed to execute the Note Purchase Agreement, and all officers, agents, employees, and representatives of the City are authorized and directed to do any and all things necessary or convenient to carry out the provisions of this Ordinance, the Note, the Note Purchase Agreement and each Request for Draw.
Each draw pursuant to a Request for Draw under this note shall bear interest at a taxable rate equal to either the LIBOR Fixed Rate or the LIBOR Floating Rate, as set forth in Resolution No. of the Port, adopted on , 2009 (the “Note Resolution”), and the interest rate applicable to any outstanding draw may be changed by a Request for Conversion provided in accordance with the Note Resolution.
It is expressly understood and agreed that the Purchaser shall be entitled to rely on representations and certifications in each Request for Draw and shall have no obligation to make inquiry into any such representation or certification and that any inquiry undertaken by or on behalf of the Purchaser shall not affect the Purchaser’s ability to rely on such representations and certificates.
Interest on this note shall accrue from the date money is drawn, pursuant to a Request for Draw, until paid and shall be computed on the principal amount outstanding on the basis of a 360-day year and the actual number of days elapsed.
Each Request for Draw shall be accompanied by a written plan to repay the Note within 12 months of the date of the draw.
Additional Services shall mean other services provided under the Contract, as defined in Section 7.5. of the Contract.