{"component": "clause", "props": {"groups": [{"snippet": "If any Holder effects, pursuant to a Shelf Registration, a public offering of all or a part of its Registrable Securities a shelf \"draw-down\") and wishes the Company to perform, in connection with such shelf \"draw-down,\" any procedures specified in Section 6(a) hereof in addition to those the Company is otherwise obligated to perform with respect to such Shelf Registration pursuant to Sections 2(a) and 6(a) hereof, such Holder shall deliver to the Company, at least five Business Days before such \"draw-down\" is to be made, a written notice describing in reasonable detail its proposed offering and requesting the performance of such additional procedures pursuant to this Section 2(d) and such Section 6(a). The Company shall be required to perform such additional procedures in advance of a particular shelf \"draw-down\" only if such Holder shall have requested such performance as provided above. In addition, the Company shall be required to perform such additional procedures (other than those required under the securities laws) in connection with a particular shelf \"draw-down\" only if one or more Holders shall have notified the Company pursuant to this Section 2(d) of their intention to offer to the public Registrable Securities with an aggregate market value (on the date the written notice referred to above is delivered) of at least $2 million pursuant to such \"draw-down.\" During the first three years of the Shelf Period a shelf \"draw-down\" that is an underwritten offering shall constitute a Demand Registration for purposes of the first sentence of Section 3(b).", "size": 7, "samples": [{"hash": "ler09tjoTY3", "uri": "/contracts/ler09tjoTY3#draw-downs", "label": "Registration Rights Agreement (Fuqua Enterprises Inc)", "score": 18.0, "published": true}, {"hash": "cHnE98qf4Xe", "uri": "/contracts/cHnE98qf4Xe#draw-downs", "label": "Registration Rights Agreement (Minotto Gene J)", "score": 18.0, "published": true}, {"hash": "bDJawzohbwx", "uri": "/contracts/bDJawzohbwx#draw-downs", "label": "Merger Agreement (Fuqua Enterprises Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "pursuant-to-a", "type": "clause", "offset": [23, 36]}, {"key": "shelf-registration", "type": "definition", "offset": [37, 55]}, {"key": "public-offering", "type": "clause", "offset": [59, 74]}, {"key": "registrable-securities", "type": "definition", "offset": [99, 121]}, {"key": "in-connection-with", "type": "clause", "offset": [178, 196]}, {"key": "in-addition-to", "type": "clause", "offset": [269, 283]}, {"key": "with-respect-to", "type": "clause", "offset": [336, 351]}, {"key": "pursuant-to-sections", "type": "clause", "offset": [376, 396]}, {"key": "to-the-company", "type": "clause", "offset": [445, 459]}, {"key": "business-days", "type": "clause", "offset": [475, 488]}, {"key": "written-notice", "type": "clause", "offset": [530, 544]}, {"key": "proposed-offering", "type": "definition", "offset": [581, 598]}, {"key": "the-performance", "type": "clause", "offset": [614, 629]}, {"key": "additional-procedures", "type": "clause", "offset": [638, 659]}, {"key": "the-company-shall", "type": "clause", "offset": [713, 730]}, {"key": "in-advance", "type": "clause", "offset": [781, 791]}, {"key": "securities-laws", "type": "definition", "offset": [1021, 1036]}, {"key": "to-offer-to-the-public", "type": "definition", "offset": [1197, 1219]}, {"key": "aggregate-market-value", "type": "definition", "offset": [1251, 1273]}, {"key": "pursuant-to-such", "type": "clause", "offset": [1361, 1377]}, {"key": "first-three-years", "type": "clause", "offset": [1402, 1419]}, {"key": "period-a", "type": "definition", "offset": [1433, 1441]}, {"key": "underwritten-offering", "type": "clause", "offset": [1471, 1492]}, {"key": "demand-registration", "type": "definition", "offset": [1512, 1531]}, {"key": "for-purposes-of-the", "type": "clause", "offset": [1532, 1551]}], "hash": "cf557f956ae4c0857ddea79b2aa5924c", "id": 1}, {"snippet": "Upon the terms and subject to the conditions set forth herein, on any business day during the Commitment Period, the Company, subject to Board of Directors approval, may exercise a Draw Down by the delivery of a Draw Down Notice, executed by the Chief Executive Officer of the Company, to the Investor. Each Draw Down will be settled on the applicable Settlement Date following the Draw Down Date. The amount of any Draw Down shall be allocated pro rata between the Draw Down Amounts set forth herein and the corresponding amounts to be drawn down at the corresponding times pursuant to that certain Equity Option Agreement by and between the Company and \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587 (\u2587\u2587\u2587\u2587\u2587\u2587\u2587), dated as of the date hereof, a copy which is attached hereto as Exhibit A (the \"\u2587\u2587\u2587\u2587\u2587\u2587\u2587 Equity Option\"), provided, however, that the minimum aggregate amount of each Draw Down under this Agreement and the draw down under the \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Equity Option, shall not be less than $2,500,000 (the \"Aggregate Minimum Draw Down Amount\"). Notwithstanding the foregoing, (i) the \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Equity Option shall not be amended to increase or decrease the ratio or ratios, as applicable, of the Draw Down Amount, Per Share Purchase Price or Total Option Shares set forth in this Agreement to the Draw Down Amount, Per Share Purchase Price or Total Option Shares (each as defined in the \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Equity Option) set forth in the \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Equity Option, without simultaneously amending this Agreemento maintain such ratio or ratios, as applicable, which amendment shall be made only pursuant to the provisions of Section 8.5 hereof, and (ii) the Investor shall have no right to purchase shares of Common Stock subject to the purchase right of \u2587\u2587\u2587\u2587\u2587\u2587\u2587 contained in Section 2.1 (d) of the \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Equity Option the event \u2587\u2587\u2587\u2587\u2587\u2587\u2587 elects not to exercise its purchase right or if \u2587\u2587\u2587\u2587\u2587\u2587\u2587 effects only a partial exercise of his purchase right.", "size": 3, "samples": [{"hash": "cQyzgnDaAa0", "uri": "/contracts/cQyzgnDaAa0#draw-downs", "label": "Option Agreement (Clean Energy Fuels Corp.)", "score": 21.0, "published": true}], "snippet_links": [{"key": "terms-and", "type": "clause", "offset": [9, 18]}, {"key": "the-conditions", "type": "clause", "offset": [30, 44]}, {"key": "business-day", "type": "definition", "offset": [70, 82]}, {"key": "during-the-commitment-period", "type": "clause", "offset": [83, 111]}, {"key": "board-of-directors-approval", "type": "clause", "offset": [137, 164]}, {"key": "delivery-of-a", "type": "clause", "offset": [198, 211]}, {"key": "draw-down-notice", "type": "definition", "offset": [212, 228]}, {"key": "executed-by", "type": "definition", "offset": [230, 241]}, {"key": "executive-officer-of-the-company", "type": "definition", "offset": [252, 284]}, {"key": "the-investor", "type": "clause", "offset": [289, 301]}, {"key": "applicable-settlement-date", "type": "definition", "offset": [341, 367]}, {"key": "following-the", "type": "definition", "offset": [368, 381]}, {"key": "draw-down-date", "type": "definition", "offset": [382, 396]}, {"key": "pro-rata", "type": "clause", "offset": [445, 453]}, {"key": "amounts-to-be", "type": "clause", "offset": [523, 536]}, {"key": "equity-option-agreement", "type": "definition", "offset": [600, 623]}, {"key": "company-and-\u2587", "type": "clause", "offset": [643, 656]}, {"key": "dated-as-of", "type": "definition", "offset": [680, 691]}, {"key": "date-hereof", "type": "clause", "offset": [696, 707]}, {"key": "exhibit-a", "type": "definition", "offset": [744, 753]}, {"key": "minimum-aggregate-amount", "type": "definition", "offset": [813, 837]}, {"key": "the-\u2587", "type": "clause", "offset": [901, 906]}, {"key": "minimum-draw-down-amount", "type": "definition", "offset": [978, 1002]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [1006, 1035]}, {"key": "increase-or-decrease", "type": "clause", "offset": [1091, 1111]}, {"key": "per-share-purchase-price", "type": "definition", "offset": [1173, 1197]}, {"key": "total-option-shares", "type": "definition", "offset": [1201, 1220]}, {"key": "agreement-to", "type": "definition", "offset": [1239, 1251]}, {"key": "section-85", "type": "clause", "offset": [1568, 1579]}, {"key": "to-purchase-shares-of-common-stock", "type": "clause", "offset": [1630, 1664]}, {"key": "right-of", "type": "definition", "offset": [1689, 1697]}, {"key": "contained-in", "type": "definition", "offset": [1706, 1718]}, {"key": "section-21", "type": "clause", "offset": [1719, 1730]}, {"key": "the-event", "type": "definition", "offset": [1764, 1773]}, {"key": "to-exercise", "type": "clause", "offset": [1793, 1804]}, {"key": "exercise-of", "type": "clause", "offset": [1861, 1872]}], "hash": "489cf884f3bebb3e5f81de7bc33b09df", "id": 4}, {"snippet": "Upon the terms and subject to the conditions set forth herein, on any Trading Day as provided in Section 2.03(b) hereof during the Commitment Period on which the conditions set forth in Section 6.02 and 6.03 hereof have been satisfied, the Company may exercise a Draw Down by the delivery of a Draw Down Notice to the Investor. The aggregate number of Draw Down Shares that the Investor shall be obligated to purchase pursuant to such Draw Down shall be determined by dividing the relevant portions of the Investment Amount specified in the Draw Down Notice by the corresponding Purchase Prices for each Trading Day during the Valuation Period as specified in Section 2.03(c). Each Draw Down will be settled on the applicable Settlement Date following the Draw Down Date.", "size": 4, "samples": [{"hash": "9yMin44oY9", "uri": "/contracts/9yMin44oY9#draw-downs", "label": "Equity Line Financing Agreement (Computer Motion Inc)", "score": 18.0, "published": true}, {"hash": "3t93tpCRczf", "uri": "/contracts/3t93tpCRczf#draw-downs", "label": "Equity Line Financing Agreement (Computer Motion Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "terms-and", "type": "clause", "offset": [9, 18]}, {"key": "the-conditions", "type": "clause", "offset": [30, 44]}, {"key": "trading-day", "type": "clause", "offset": [70, 81]}, {"key": "during-the-commitment-period", "type": "clause", "offset": [120, 148]}, {"key": "the-company", "type": "definition", "offset": [236, 247]}, {"key": "delivery-of-a", "type": "clause", "offset": [280, 293]}, {"key": "notice-to-the-investor", "type": "clause", "offset": [304, 326]}, {"key": "number-of", "type": "definition", "offset": [342, 351]}, {"key": "draw-down-shares", "type": "definition", "offset": [352, 368]}, {"key": "pursuant-to-such", "type": "clause", "offset": [418, 434]}, {"key": "relevant-portions", "type": "definition", "offset": [481, 498]}, {"key": "the-investment-amount", "type": "clause", "offset": [502, 523]}, {"key": "notice-by-the", "type": "clause", "offset": [551, 564]}, {"key": "purchase-prices", "type": "definition", "offset": [579, 594]}, {"key": "valuation-period", "type": "clause", "offset": [627, 643]}, {"key": "as-specified", "type": "clause", "offset": [644, 656]}, {"key": "applicable-settlement-date", "type": "definition", "offset": [715, 741]}, {"key": "following-the", "type": "definition", "offset": [742, 755]}, {"key": "draw-down-date", "type": "definition", "offset": [756, 770]}], "hash": "a6c59c62185a06d5479214dc93bb683b", "id": 2}, {"snippet": "Upon the terms and subject to the conditions set forth herein, on any Trading Day as provided in Section 2.03(b) hereof during the Commitment Period on which the conditions set forth in Section 6.02 and 6.03 hereof have been satisfied, the Company may exercise a Draw Down by the delivery of a Draw Down Notice, executed by the President, Chairman or Chief Financial Officer of the Company, to the Investor. The aggregate number of Draw Down Shares that the Investor shall be obligated to purchase pursuant to such Draw Down shall be the sum of the Draw Down Shares issuable in respect of each day during the Valuation Period, determined on a daily basis during the applicable Valuation Period in accordance with Section 2.03(c) below (unless Common Shares may not be sold in respect of any Trading Day during the Valuation Period as provided by this Agreement). Each Draw Down will be settled on the applicable Settlement Date following the Draw Down Date.", "size": 4, "samples": [{"hash": "gMcfN93snJu", "uri": "/contracts/gMcfN93snJu#draw-downs", "label": "Equity Line Financing Agreement (Biopure Corp)", "score": 18.0, "published": true}, {"hash": "5eG0YZLHWE9", "uri": "/contracts/5eG0YZLHWE9#draw-downs", "label": "Equity Line Financing Agreement (Biopure Corp)", "score": 18.0, "published": true}], "snippet_links": [{"key": "terms-and", "type": "clause", "offset": [9, 18]}, {"key": "the-conditions", "type": "clause", "offset": [30, 44]}, {"key": "trading-day", "type": "clause", "offset": [70, 81]}, {"key": "during-the-commitment-period", "type": "clause", "offset": [120, 148]}, {"key": "delivery-of-a", "type": "clause", "offset": [280, 293]}, {"key": "draw-down-notice", "type": "definition", "offset": [294, 310]}, {"key": "executed-by", "type": "definition", "offset": [312, 323]}, {"key": "the-president", "type": "clause", "offset": [324, 337]}, {"key": "officer-of-the-company", "type": "definition", "offset": [367, 389]}, {"key": "the-investor", "type": "clause", "offset": [394, 406]}, {"key": "number-of", "type": "definition", "offset": [422, 431]}, {"key": "draw-down-shares", "type": "definition", "offset": [432, 448]}, {"key": "pursuant-to-such", "type": "clause", "offset": [498, 514]}, {"key": "sum-of", "type": "clause", "offset": [538, 544]}, {"key": "shares-issuable", "type": "clause", "offset": [559, 574]}, {"key": "in-respect-of", "type": "clause", "offset": [575, 588]}, {"key": "valuation-period", "type": "clause", "offset": [609, 625]}, {"key": "daily-basis", "type": "definition", "offset": [643, 654]}, {"key": "applicable-valuation", "type": "definition", "offset": [666, 686]}, {"key": "in-accordance-with", "type": "clause", "offset": [694, 712]}, {"key": "common-shares", "type": "definition", "offset": [743, 756]}, {"key": "by-this-agreement", "type": "clause", "offset": [843, 860]}, {"key": "applicable-settlement-date", "type": "definition", "offset": [901, 927]}, {"key": "following-the", "type": "definition", "offset": [928, 941]}, {"key": "draw-down-date", "type": "definition", "offset": [942, 956]}], "hash": "52a8ed3c2649d8ed0e3fe313bd883fcc", "id": 3}, {"snippet": "Upon the terms and subject to the conditions set forth herein, on any Trading Day as provided in Section 2.03(b) hereof during the Commitment Period on which the conditions set forth in Section 6.02 and 6.03 hereof have been satisfied, the Company may exercise a Draw Down by the delivery of a Draw Down Notice to the Investor. The aggregate number of Draw Down Shares that the Investor shall be obligated to purchase pursuant to such Draw Down shall be determined in accordance with Section 2.03(c). Each Draw Down will be settled on the applicable Settlement Date following the Draw Down Date.", "size": 2, "samples": [{"hash": "kocwFR0VBb7", "uri": "/contracts/kocwFR0VBb7#draw-downs", "label": "Equity Line Financing Agreement (Gadzoox Networks Inc)", "score": 18.0, "published": true}, {"hash": "iXLKhlwDGJE", "uri": "/contracts/iXLKhlwDGJE#draw-downs", "label": "Equity Line Financing Agreement (Gadzoox Networks Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "terms-and", "type": "clause", "offset": [9, 18]}, {"key": "the-conditions", "type": "clause", "offset": [30, 44]}, {"key": "trading-day", "type": "clause", "offset": [70, 81]}, {"key": "during-the-commitment-period", "type": "clause", "offset": [120, 148]}, {"key": "the-company", "type": "definition", "offset": [236, 247]}, {"key": "delivery-of-a", "type": "clause", "offset": [280, 293]}, {"key": "notice-to-the-investor", "type": "clause", "offset": [304, 326]}, {"key": "number-of", "type": "definition", "offset": [342, 351]}, {"key": "draw-down-shares", "type": "definition", "offset": [352, 368]}, {"key": "pursuant-to-such", "type": "clause", "offset": [418, 434]}, {"key": "in-accordance-with", "type": "clause", "offset": [465, 483]}, {"key": "applicable-settlement-date", "type": "definition", "offset": [539, 565]}, {"key": "following-the", "type": "definition", "offset": [566, 579]}, {"key": "draw-down-date", "type": "definition", "offset": [580, 594]}], "hash": "1d77d34cd0a99c5d5f2f441ee4b10824", "id": 5}, {"snippet": "So long as the Borrower is in compliance with the terms of the Loan Documents, provides 15 days written notice of request for draw down to Lender at the address of Lender set forth above (or as later changed in writing by Lender), and provides Lender with such written notice, a No Adverse Change Certificate in such form and substance acceptable to Lender, Borrower may draw down on this Revolving Facility, sums in increments no smaller than $250,000.00 but in no event sums in excess of aggregate of $2,000,000.00 (when considering all drawn downs made hereunder).", "size": 2, "samples": [{"hash": "p9IPJa75uk", "uri": "/contracts/p9IPJa75uk#draw-downs", "label": "Revolving Credit Agreement (Oragenics Inc)", "score": 19.5831623077, "published": true}, {"hash": "8xH3XS2bFzX", "uri": "/contracts/8xH3XS2bFzX#draw-downs", "label": "Revolving Credit Agreement (Oragenics Inc)", "score": 19.5119781494, "published": true}], "snippet_links": [{"key": "the-borrower", "type": "definition", "offset": [11, 23]}, {"key": "the-loan-documents", "type": "clause", "offset": [59, 77]}, {"key": "draw-down", "type": "clause", "offset": [126, 135]}, {"key": "to-lender", "type": "definition", "offset": [136, 145]}, {"key": "of-lender", "type": "clause", "offset": [161, 170]}, {"key": "in-writing", "type": "definition", "offset": [208, 218]}, {"key": "by-lender", "type": "definition", "offset": [219, 228]}, {"key": "no-adverse-change-certificate", "type": "clause", "offset": [279, 308]}, {"key": "form-and-substance", "type": "clause", "offset": [317, 335]}, {"key": "revolving-facility", "type": "definition", "offset": [389, 407]}, {"key": "in-no-event", "type": "clause", "offset": [460, 471]}], "hash": "be0c8efdf95494504c17ffca1a056904", "id": 6}, {"snippet": "As set forth on the Ledger, as of the Original Issue Date Holder has loaned to the Company an aggregate principal amount of $494,000 (the \u201cInitial Advance\u201d). The Holder agrees to immediately lend such additional cash amounts to the Company as the Company may request from time to time (each a \u201cDraw Down\u201d), up to an aggregate principal amount of $2,000,000 (including the Initial Advance) (the \u201cFull Commitment Amount\u201d); provided however, that the Holder shall not be obligated to advance any Draw Down request for an amount less than $100,000, unless such amount represents the remainder of the Full Commitment Amount not yet advanced. All Draw Downs made on account of principal hereof shall be recorded on the Ledger and signed by Holder and the Company where indicated; provided however, that the failure of the Holder to sign the Ledger shall have no effect on the Holder\u2019s obligation to advance any Draw Down. The applicable Repayment Date for each Draw Down and for the Initial Advance shall be the one year anniversary of the date such funds are initially advanced to the Company as indicated on the Ledger. Simultaneously with the receipt of any Draw Down funds, the Company shall issue to the Holder a Warrant to purchase an amount of shares of Common Stock of the Company equal to the amount of such Draw Down divided by the then applicable Conversion Price (as defined below) and otherwise on the terms and conditions set forth in the Warrant.\u201d", "size": 2, "samples": [{"hash": "hhHhwyHnXnE", "uri": "/contracts/hhHhwyHnXnE#draw-downs", "label": "Convertible Debenture Amendment (American Petro-Hunter Inc)", "score": 20.5441474915, "published": true}], "snippet_links": [{"key": "original-issue-date", "type": "definition", "offset": [38, 57]}, {"key": "to-the-company", "type": "clause", "offset": [76, 90]}, {"key": "aggregate-principal-amount", "type": "definition", "offset": [94, 120]}, {"key": "the-holder", "type": "clause", "offset": [158, 168]}, {"key": "agrees-to", "type": "clause", "offset": [169, 178]}, {"key": "cash-amounts", "type": "definition", "offset": [212, 224]}, {"key": "from-time-to-time", "type": "clause", "offset": [267, 284]}, {"key": "the-initial-advance", "type": "clause", "offset": [368, 387]}, {"key": "commitment-amount", "type": "definition", "offset": [400, 417]}, {"key": "provided-however", "type": "clause", "offset": [421, 437]}, {"key": "request-for", "type": "definition", "offset": [503, 514]}, {"key": "by-holder", "type": "clause", "offset": [731, 740]}, {"key": "and-the-company", "type": "clause", "offset": [741, 756]}, {"key": "failure-of-the", "type": "clause", "offset": [801, 815]}, {"key": "effect-on-the", "type": "clause", "offset": [856, 869]}, {"key": "obligation-to-advance", "type": "clause", "offset": [879, 900]}, {"key": "applicable-repayment-date", "type": "definition", "offset": [920, 945]}, {"key": "one-year-anniversary", "type": "definition", "offset": [1006, 1026]}, {"key": "as-indicated", "type": "definition", "offset": [1088, 1100]}, {"key": "simultaneously-with-the", "type": "clause", "offset": [1116, 1139]}, {"key": "receipt-of", "type": "clause", "offset": [1140, 1150]}, {"key": "the-company-shall", "type": "clause", "offset": [1172, 1189]}, {"key": "issue-to", "type": "definition", "offset": [1190, 1198]}, {"key": "a-warrant", "type": "definition", "offset": [1210, 1219]}, {"key": "common-stock-of-the-company", "type": "clause", "offset": [1255, 1282]}, {"key": "equal-to", "type": "definition", "offset": [1283, 1291]}, {"key": "divided-by", "type": "clause", "offset": [1321, 1331]}, {"key": "applicable-conversion-price", "type": "definition", "offset": [1341, 1368]}, {"key": "the-terms-and-conditions", "type": "clause", "offset": [1405, 1429]}, {"key": "the-warrant", "type": "clause", "offset": [1443, 1454]}], "hash": "fc562cbfb9ebd57155873fb7952ea971", "id": 7}, {"snippet": "So long as the Borrower is in compliance with the terms of the Loan Documents, provides written notice of request for draw down to Lender at the address of Lender set forth above (or as later changed in writing by Lender), and provides Lender with such written notice, a No Adverse Change Certificate in such form and substance acceptable to Lender, Borrower may draw down on this Revolving Facility, in no event in excess of $8,250,000 (when considering all draw downs made hereunder).\n5. All other terms of the Agreement as amended remain in full force and effect.", "size": 2, "samples": [{"hash": "ksOwGLdV2i0", "uri": "/contracts/ksOwGLdV2i0#draw-downs", "label": "Revolving Credit Agreement (Oragenics Inc)", "score": 21.0643386841, "published": true}], "snippet_links": [{"key": "the-borrower", "type": "definition", "offset": [11, 23]}, {"key": "the-loan-documents", "type": "clause", "offset": [59, 77]}, {"key": "request-for-draw", "type": "definition", "offset": [106, 122]}, {"key": "to-lender", "type": "definition", "offset": [128, 137]}, {"key": "of-lender", "type": "clause", "offset": [153, 162]}, {"key": "in-writing", "type": "definition", "offset": [200, 210]}, {"key": "by-lender", "type": "definition", "offset": [211, 220]}, {"key": "no-adverse-change-certificate", "type": "clause", "offset": [271, 300]}, {"key": "form-and-substance", "type": "clause", "offset": [309, 327]}, {"key": "revolving-facility", "type": "definition", "offset": [381, 399]}, {"key": "in-no-event", "type": "clause", "offset": [401, 412]}, {"key": "agreement-as-amended", "type": "clause", "offset": [513, 533]}, {"key": "full-force-and-effect", "type": "definition", "offset": [544, 565]}], "hash": "a2ea59e5ce551a79a207736e78a4f783", "id": 8}, {"snippet": "Upon the terms and conditions set forth herein, during the Commitment Period the Company may make a Draw Down by the delivery of a Draw Down Notice to Lender; provided, however, that the Draw Down Amount for each Draw Down as designated by the Company in the applicable Draw Down Notice shall not be less than $75,000; provided, further, that the Company shall have no obligation to make any Draw Down.", "size": 1, "samples": [{"hash": "bUpEYJKMfc9", "uri": "/contracts/bUpEYJKMfc9#draw-downs", "label": "Note Purchase Agreement (Pro Net Link Corp)", "score": 18.0, "published": true}], "snippet_links": [{"key": "the-terms-and-conditions", "type": "clause", "offset": [5, 29]}, {"key": "during-the-commitment-period", "type": "clause", "offset": [48, 76]}, {"key": "delivery-of-a", "type": "clause", "offset": [117, 130]}, {"key": "notice-to-lender", "type": "clause", "offset": [141, 157]}, {"key": "draw-down-amount", "type": "definition", "offset": [187, 203]}, {"key": "as-designated", "type": "definition", "offset": [223, 236]}, {"key": "company-in", "type": "clause", "offset": [244, 254]}, {"key": "the-applicable", "type": "clause", "offset": [255, 269]}, {"key": "the-company-shall", "type": "clause", "offset": [343, 360]}, {"key": "no-obligation-to", "type": "clause", "offset": [366, 382]}], "hash": "3d08e816df7c203f5f6936fbc9205981", "id": 9}, {"snippet": "Upon the terms and conditions set forth herein, on any Trading Day during the Commitment Period on with the conditions set forth in Section 6(b) and 6(c) hereof have been satisfied, the Company may exercise a Draw Down by the delivery of a Draw Down Notice to the Buyer. Each Draw Down Notice shall be subject to acceptance by Buyer as set forth in Section 2(c) hereof. A \u201cTrading Day\u201d shall mean any day during which the New York Stock Exchange shall be open for business.", "size": 1, "samples": [{"hash": "8lIrDBCsY6N", "uri": "/contracts/8lIrDBCsY6N#draw-downs", "label": "Securities Purchase Agreement (New Media Lottery Services Inc)", "score": 21.0, "published": true}], "snippet_links": [{"key": "the-terms-and-conditions", "type": "clause", "offset": [5, 29]}, {"key": "trading-day", "type": "clause", "offset": [55, 66]}, {"key": "during-the-commitment-period", "type": "clause", "offset": [67, 95]}, {"key": "the-conditions", "type": "clause", "offset": [104, 118]}, {"key": "the-company", "type": "definition", "offset": [182, 193]}, {"key": "delivery-of-a", "type": "clause", "offset": [226, 239]}, {"key": "notice-to-the-buyer", "type": "clause", "offset": [250, 269]}, {"key": "subject-to", "type": "definition", "offset": [302, 312]}, {"key": "acceptance-by-buyer", "type": "clause", "offset": [313, 332]}, {"key": "the-new-york-stock-exchange", "type": "clause", "offset": [418, 445]}, {"key": "open-for-business", "type": "definition", "offset": [455, 472]}], "hash": "39afb84057946ef42c6e28f33938d743", "id": 10}], "next_curs": "ClMSTWoVc35sYXdpbnNpZGVyY29udHJhY3Rzci8LEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhNkcmF3LWRvd25zIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"parents": [["sale-and-purchase-of-common-stock", "Sale and Purchase of Common Stock"], ["investments", "Investments"], ["miscellaneous", "Miscellaneous"], ["purchase-and-sale-of-common-stock", "Purchase  and Sale of  Common  Stock"], ["registration-under-securities-act", "Registration Under Securities Act"]], "title": "Draw Downs", "children": [["general", "General"], ["draw-down-notice", "Draw Down Notice"], ["conditions-precedent-to-the-obligation-of-the-purchasers-to-purchase-draw-down-preferred-shares", "Conditions Precedent to the Obligation of the Purchasers to purchase Draw Down Preferred Shares"], ["draw-down-closing-deliverables", "Draw Down Closing Deliverables"], ["draw-down-terms", "Draw Down Terms"]], "size": 56, "id": "draw-downs", "related": [["draw-down-terms", "Draw Down Terms", "Draw Down Terms"], ["minimum-amount-of-each-borrowing-maximum-number-of-borrowings", "Minimum Amount of Each Borrowing; Maximum Number of Borrowings", "Minimum Amount of Each Borrowing; Maximum Number of Borrowings"], ["subsequent-advances", "Subsequent Advances", "Subsequent Advances"], ["commitment-period", "Commitment Period", "Commitment Period"], ["conditions-to-borrowings", "CONDITIONS TO BORROWINGS", "CONDITIONS TO BORROWINGS"]], "related_snippets": [], "updated": "2026-05-08T06:30:32+00:00", "also_ask": [], "drafting_tip": "Specify drawdown procedures and conditions to ensure clarity; define notice requirements to prevent disputes; set limits and timing to manage risk exposure.", "explanation": "The Draw Downs clause defines the process by which a borrower can request and receive portions of a loan or credit facility over time, rather than receiving the full amount upfront. Typically, this clause outlines the conditions, procedures, and limitations for each drawdown, such as notice requirements, minimum amounts, and documentation needed for each request. Its core practical function is to provide flexibility for the borrower to access funds as needed, while allowing the lender to maintain oversight and control over the disbursement of loan proceeds."}, "json": true, "cursor": ""}}