Common use of Completion of Utilisation Requests Clause in Contracts

Completion of Utilisation Requests. A Utilisation Request will not be regarded as having been duly completed unless: 4.2.1 the proposed Utilisation Date is a Business Day falling within the Availability Period; 4.2.2 the Loan requested is in Rands and the amount of the Loan requested is not more than the Available Facility and which is a minimum amount of R1 000 000 and an integral multiple of R1 000 000 or, if less, the Available Facility; 4.2.3 it complies with the provisions of clause 3.3 (Number of Utilisations and Maximum Amounts); and 4.2.4 it identifies the Borrower WCF Account as the bank account into which the Lender is to disburse the proceeds of the Loan. Only one Loan may be requested in a Utilisation Request.