Examples of Utilization in a sentence
The proceeds of the Loans under the Facilities will be disbursed by the Lender (directly or through IQ HK) to the Borrower’s and/or its Affiliate’s account(s) as designated by the Borrower in the relevant Utilization Request.
The Loans may be prepaid any time after the Initial Utilization Date.
For the first Utilization of the Tranche A Facility Commitment, the Borrower may deliver the Utilization Request after (i) the Lender has received all of the documents or evidence listed in items 1, 3, 4, 5 and 6(a) of Schedule 1 (Conditions Precedent) and (ii) the Borrower has received all of the documents or evidence listed in item 2 of Schedule 1 (Conditions Precedent).
Upon receipt by the Lender (or the Borrower, as the case may be) of the documents and evidence under this Clause 4.1, the Lender shall make available to the Borrower the Tranche A Loan in accordance with the Utilization Request.
Interest shall accrue on a day-to-day basis from each applicable Utilization Date with a 360-day year and for the actual number of days elapsed.