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: 5.3.1 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; 5.3.2 it complies with the provisions of clause 4.4 (Number of Utilisations and Maximum Loans); and 5.3.3 it identifies the bank account into which the Lender is to disburse the proceeds of the Loan. Only one Loan may be requested in an Utilisation Request.

Completion of Utilisation Requests. A Utilisation Request will not be regarded as having been duly completed unless: 5.3.1 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; 5.3.2 it complies with the provisions of clause 4.4 4.3 (Number of Utilisations and Maximum Loans); and 5.3.3 it identifies the bank account into which the Lender is to disburse the proceeds of the Loan. Only one Loan may be requested in an Utilisation Request.