A Drawdown Request Clause Samples
A Drawdown Request. (a) may only specify a single Loan;
(b) shall only be regarded as having been completed if:
(i) the requested Drawdown Date is a Business Day before the end of the Availability Period;
(ii) the proposed Interest Period complies with clause 7;
(iii) the proposed Repayment Date is not later than the Termination Date; and
(c) once it has been delivered, is irrevocable.
A Drawdown Request. 21.2.1 may only specify a single Loan; and
21.2.2 shall only be regarded as having been completed if the Loan requested is for the full amount of the Facility:
A Drawdown Request shall only be complete if the requested Drawdown Date is at least a Business Day before the end of the Availability Period; and once it has been delivered, is irrevocable. 6 INTEREST 6.1 The interest rate on the Loan is floating and non-indexed (óverðtryggt) and is the percentage rate per annum, to be the total of: the Margin; and the Base Interest Rate.
A Drawdown Request. A copy of a Creditor Accession Undertaking in relation to the Intercreditor Agreement, whereunder the Lender is accepted as an Additional Lender (as the term is defined in the Intercreditor Agreement) and the Facility Agreement is added as an Additional Loan Document (as the term is defined in the Intercreditor Agreement), executed by the Lender.
A Drawdown Request. (a) shall only be complete if:
(i) the requested Drawdown Date is at least a Business Day before the end of the Availability Period; and
(ii) the latest quarterly progress report submitted by the Borrower to the Lender before such Drawdown Request (each a "Progress Report") confirms that the progress of the Project, at the time of the relevant Progress Report, was in accordance with the Cost Plan and the Construction Plan provided by the Borrower to the Lender in respect of the Project. The Lender and the Project Monitor (as instructed by the Lender) shall be authorised to assess and evaluate the contents of each Progress Report, if deemed necessary (acting reasonably). For the avoidance of doubt, each Drawdown Request is subject to the approval of the Lender pursuant to the process set out in subparagraph (ii) above, and the Lender shall be authorised to (1) reject the respective Drawdown Request, or (2) lower the requested amount, acting reasonably, in the event that the Lender deems the progress of the Project not to be in accordance with the Construction Documents, acting reasonably.
(b) once it has been delivered, is irrevocable.
A Drawdown Request. (a) may only specify a single Loan;
(b) shall specify the amount to be drawndown under the Marquis Loan and the Regiment Loan, such amounts to be equal;
(c) shall only be regarded as having been completed if:
(i) the requested Drawdown Date is a Business Day before the expiry of the Certain Funds Period; and
(ii) once it has been delivered, is irrevocable.