DRAWDOWN CONDITIONS Cláusulas de Ejemplo

DRAWDOWN CONDITIONS. (A) The Fund shall not be obliged to make any Drawdown to the Borrower in fulfilment of this Agreement, unless the following drawdown conditions are first or simultaneously fulfilled: (i) The requirements applicable to the requested Drawdown are fulfilled; (ii) There is no event that would constitute, or could reasonably be expected in the future to constitute an Accelerated Maturity Circumstance, nor has any event occurred that, as a consequence of the Drawdown, would or could reasonably be expected in the future to constitute an Accelerated Maturity Circumstance; (iii) There is no event that would constitute, or could reasonably be expected in the future to constitute a Material Adverse Effect, nor has any event occurred as a consequence of the Drawdown that would constitute, or could reasonably be expected to constitute a Material Adverse Effect; and (iv) Neither the Beneficiaries nor the Guarantors have applied for insolvency or been declared insolvent, and there is no situation demonstrating their current or imminent insolvency, according to the provisions of the Spanish Insolvency Act, and they have not served the notification indicated in Article 583 et seq. of the Consolidated Text of the Insolvency Act of 5 May 2020 (the former Article 5 bis of Insolvency Act 22/2003); (v) All Representations and Warranties remain true, complete and precise, and shall continue to be so after the Drawdown is performed; (vi) The Beneficiaries and Guarantors have signed all the Financial Documents, including the execution of any documents required in connection with the Personal and In Rem Guarantees (with regard to each guarantee, by the deadlines and with the content required by ​ ​ ​ Clause 16), with those In Rem Guarantees that can be entered in the corresponding Public Registers having been presented for registration; (vii) Maintenance of direct or indirect ownership: (i) by the Borrower of the shares representing the percentage held by it at the date of this Agreement in the share capital of Grupo Ferroatlántica de Servicios; and (ii) by Ferroglobe PLC , of its indirect stake in the share capital of the Borrower. (viii) The Beneficiaries and Guarantors are in fulfilment of all obligations imposed by the Financing Documents. (ix) The Beneficiaries have no outstanding taxation and Social Security obligations, presenting certificates for this purpose. (B) The Borrower must present SEPI with an authentic document confirming fulfilment of the following conditions, o...