Delivery of a Drawdown Notice. The Borrowers may utilise the Facilities by delivering to the Agent a duly completed Drawdown Notice no later than 11:00 hours four (4) Business Days prior to the proposed Drawdown Date. 5.2 Completion of the Drawdown Notice Each Drawdown Notice is irrevocable and will not be regarded as having been duly completed unless: (a) it identifies the Borrower, and the Vessel to which the proposed Loan relates; (b) it identifies the purpose of the proposed Loan, being in accordance with Clause 3.1 (Purpose); (c) the proposed Drawdown Date is a Business Day within the Availability Period; (d) subject to Clause 5.5 (Closing mechanics), the proposed Drawdown Date is also the Delivery Date of the relevant Vessel; (e) the currency specified is USD; (f) the amount of the proposed Loan is an amount not exceeding the applicable Maximum Loan Amount, as determined by the Market Value of the relevant Vessel established not more than four (4) weeks prior to the proposed Drawdown Date; (g) the aggregate of any Loan drawn down and the amount of the proposed Loan, does not exceed the Commitment for the relevant Vessel identified in Schedule 7 (Vessels); (h) the proposed Loan comprises a Commercial Facility Loan, a KEXIM Facility Loan and KEXIM Guaranteed Facility Loan, each in the Relevant Percentage of such Loan; and (i) the proposed Interest Period complies with Clause 9 (Interest Periods). 5.3 Availability Any amount of the Total Commitments which, at that time, has not been utilised shall automatically be cancelled at the close of business in Oslo on the expiry of the Availability Period. 5.4 Lenders' participation (a) Upon receipt of a Drawdown Notice, the Agent shall notify each Lender of the details of the requested drawing and the amount of each Lender's participation not later than 11.00 hours on the day falling three (3) Business Days before a Drawdown Date. (b) If the conditions set out in this Agreement have been met, each Lender shall no later than 11:00 hours on a Drawdown Date make available to the Agent for the account of the relevant Borrower an amount equal to its participation in the drawing to be advanced pursuant to a Drawdown Notice. BD-#34696673-v11 27
Delivery of a Drawdown Notice. The Borrowers may utilise the Facility by delivering to the Agent a duly completed Drawdown Notice no later than 10:00 hours (London time) three (3) Business Days prior to the proposed Drawdown Date.
Delivery of a Drawdown Notice. The Borrower may only draw a Tranche by delivery to the Administrative Agent of a duly completed Drawdown Notice not later than 11:00 hours three Business Days prior to the relevant Drawdown Date. The Administrative Agent shall notify the Lenders promptly upon such notice being received.
Delivery of a Drawdown Notice. The Borrower may utilise the Facility by delivery to the Lender of a duly completed Drawdown Notice not later than [◆ ]am (London time) on the [[◆ ] Business Day before the] proposed Drawdown Date. A Drawdown Notice shall be effective on actual receipt by the Lender and, once given, shall be irrevocable.
Delivery of a Drawdown Notice. (a) The Borrower may utilise the Facility by delivery to the Lender of a duly completed Drawdown Notice not later than 5:00 p.m. two Business Days before the proposed Drawdown Date.
Delivery of a Drawdown Notice. (a) The Borrowers may only draw a Loan by delivery to the Agent of a duly completed Drawdown Notice not later than 11:00 hours three (3) Business Days prior to the requested Drawdown Date. The Agent shall notify the Lenders promptly upon such notice being received.
Delivery of a Drawdown Notice. Subject to the terms and conditions of this Agreement, the Facility will be made available to the Borrower in one (1) or more Advance(s). Any Advance will be made by the Lender to the Borrower if the following conditions are fulfilled:
Delivery of a Drawdown Notice. (a) Subject to the terms and conditions of this Agreement, the Borrower may utilise the ADB Facility by delivery to ADB (with a copy to the Intercreditor Agent) of:
