Drawdown Procedure Clause Samples

Drawdown Procedure. The Borrower shall submit to the Lender an irrevocable drawdown application (the form of which is attached hereto as Annex 1) 3 Business Days prior to the drawdown date. Upon receipt and review and approval of said drawdown application, the Lender shall on the drawdown date transfer the drawdown amount applied for by the Borrower from the Loan Account of the Borrower into the Deposit Account of the Borrower, or, shall directly disburse the said amount into the account designated in the drawdown application by the party making the drawdown.

Drawdown Procedure. (a) Other than in respect of Convertible Security A, the Company must deliver Funding Notice to the Investor if the Company requires an Investment Amount. (b) A Funding Notice for each Convertible Security, must: (i) be in writing specifying the matters set out in Schedule 9; (ii) be received by the Investor before 11am on a Trading Day not less than 45 Trading Days before the proposed Closing Date (or such shorter period with the prior written consent of the Investor); (iii) nominate a proposed Closing Date for the Convertible Security; and (iv) be signed by an Authorised Officer of the Company. (c) A Funding Notice received by the Investor may only be revoked with the prior written consent of the Investor and otherwise is irrevocable. (d) A Funding Notice issued otherwise than in compliance with clause 2.2(b) is, unless otherwise agreed (or compliance is waived) in writing by the Investor, invalid.

Drawdown Procedure. Each Drawdown shall: (a) be in the minimum amount of $10,000; (b) be made on a Business Day; (c) be made prior to the Due Date; (d) not cause the total Principal advanced and interest on all such Principal to exceed $2,000,000; and (e) be payable by the Lender to the Borrower only upon a. receipt by the Lender from the Borrower of: i. a Drawdown Request, and ii. the Establishment Fee in respect of such Drawdown; and b. receipt by the Borrower from the Lender of the Lender’s Consent, which may be arbitrarily withheld by the Lender in his absolute discretion. Subject to receipt of each applicable Lender’s Consent by the Borrower, each Drawdown shall be payable by the Lender to the Borrower fourteen (14) days following delivery by the Lender to the Borrower of such Lender’s Consent.

Drawdown Procedure. (a) So long as no Default or Event of Default has occurred and is continuing the Borrowers may, at any time prior to September 30, 2012, request Drawdowns pursuant to this Section 2.2 by delivery of written notice (a “Borrowing Notice”) to the Lender no later than ten Business Days prior to the date on which funding of the Drawdown is sought. The Borrower Notice shall: (i) state the amount of such Drawdown; (ii) state the date on which funding of the Drawdown is sought, which shall be a Business Day; (iii) state the Remaining Drawdown Amount before giving effect to such Drawdown and the Remaining Drawdown Amount after giving effect to such Drawdown; (iv) contain a reasonably detailed description of the purposes for which such Drawdown will be used, including, in the case such Drawdown is for purposes of settling Existing Unsecured Claims, the particular Existing Unsecured Claims to be settled and the material terms and conditions of such settlement; (v) contain wire instructions for the Borrowers’ account to which such Drawdown is to be funded; (vi) contain a certification from a Responsible Officer of each of the Borrowers that no Default or Event of Default has occurred and is continuing; and (vii) contain such other information as the Lender may require from time to time to be included in Borrowing Notices. (b) The Lender’s obligation to lend, and the Borrower’s right to borrow, any Drawdown shall be subject to the satisfaction, on and as of the applicable Drawdown Date, of the conditions precedent specified in Section 3.2.

Drawdown Procedure. At the time you order equipment from Motorola, ------------------- you will notify Motorola in writing on the purchase order that you intend to finance the purchase with Motorola under this Credit Agreement, and will identify the location (by State and county) at which each item of equipment may be located during the term of this Agreement. By issuing that notice you will be deemed to represent and warrant that all prior statements of your account are correct. Upon shipment of each such item of equipment, provided that all Requirements for Advances have been satisfied, if the Requirements for Advances have been satisfied, Motorola shall thereupon be deemed to have made an Advance equal to 75% of the purchase price of such item of equipment, and Motorola shall make a notation on its books and records, and on the schedule to the Note, showing such Advance. On each Quarterly Date during the term of this Credit Agreement, the aggregate amount of the Advances made since the date hereof, or if later, since the date of the most recent Quarterly Date, shall constitute a Loan, which shall bear interest at the Applicable Rate and amortize as set forth herein. You hereby irrevocably authorize Motorola at any time to endorse on the Note (or record on its books and records) the date and amount of any Advances made by Motorola to you, the outstanding balance of all Advances and Loans at any time and each payment and prepayment of any principal plus interest accruing thereon. Such endorsement or record shall be prima facie evidence of the principal amount owing on the Note in any proceedings to enforce the payment thereof; provided, that failure to record an Advance or any erroneous recordation shall not affect Borrower's obligations to repay all sums actually borrowed hereunder. No Advance or deemed Advance shall be permitted for any payment of principal or interest due under the Note. You will receive from Motorola, on or about the Thursday immediately preceding the last Monday of the month, an itemized list of equipment provided to you during the most recent monthly period. You will pay to Motorola, within thirty days from the invoice date, the full amount of the purchase price for equipment and services shown on such invoice, less the amount of any Advances made for the purchase of any such equipment as provided above.

Drawdown Procedure. The Borrower may request the Lender to advance the proceeds of the Loan by delivering to the Lender a duly completed Drawdown Notice, which Drawdown Notice once issued shall be irrevocable and shall be received by the Lender not later than 10:00 a.m. (New York City time) two (2) Business Day prior to the requested Loan. The Lender’s obligation to make the proceeds of the Loan available to the Borrower hereunder shall expire on June 30, 2021; provided, however, that such obligation shall terminate automatically upon the occurrence of a Default or an Event of Default, or upon the occurrence of an event which could reasonably be expected to have a Material Adverse Effect.

Drawdown Procedure. A. Before Completion of Construction of the Project, the Borrower may request Drawdown of the Loan Commitments during the Availability Period in accordance with the Drawdown Plan as set out in Exhibit 2. In case where progress of the Project is delayed or there is any other unavoidable event, the Borrower may adjust the Drawdown schedule under the Drawdown Plan as set out in Exhibit 2 after obtaining prior written consents from the Facility Agent given in accordance with the instruction of the Majority Lenders. After Completion of Construction of the Project, the Borrower may request Drawdown of the Loan Commitments on any Interest Payment Date during the Availability Period. B. Notwithstanding paragraph A, (i) the Borrower may request Drawdown of the Interest Reserve Loan from the Interest Reserve Commitment on each Interest Payment Date during the Construction Period and (ii) during the Operation Period, in case it is expected to be difficult to pay the amount of interests payable on the relevant Interest Payment Date from the cash deposited in the Revenue Deposit Account, the Borrower may, three (3) Business Days prior to the relevant Interest Payment Date, request the Facility Agent to make a Drawdown and with the Facility Agent’s consent, such Drawdown from the Interest Reserve Commitment shall be made; provided, however, if, notwithstanding item (ii) above, payment of interest is made from the cash deposited in the Revenue Deposit Account and results in any unused and outstanding Interest Reserve Commitment, the Borrower may request Drawdown of the Loan Commitment in the amount equal to the amount of such unused and outstanding Interest Reserve Commitment, for the purpose consented by the Majority Lenders. C. If the Borrower intends to draw down the Loan Commitments, the Borrower shall file with the Facility Agent a Drawdown Request in form and substance as set forth in Form A not later than three (3) Business Days prior to the date set for Drawdown (“Proposed Drawdown Date”) or the later time which the Facility Agent agreed. Provided, however, that the Borrower shall submit a Drawdown Request consented by the Builder before the Completion of Construction, which consent may be omitted after the Completion of Construction. D. The Borrower shall draw down KRW One Hundred Million (￦100,000,000) or if more than that, multiple amounts of KRW One Hundred Million (￦100,000,000) (except for the last Drawdown), and the unit of Loan Commitment made available f...

Drawdown Procedure. 8.2.1 Within 64 days after this Agreement is signed, subject to fulfilment of all conditions set out under Clause 7 (other than Clause 7.2.6) above, the Borrower must submit an irrevocable drawdown request (in the form attached hereto as Schedule 1) to the Lender on any Business Day within the Availability Period. The drawdown request shall be submitted 21 days prior to the proposed drawdown date (which is a Business Day within the Availability Period), and the amount to be advanced as applied for under the drawdown request shall not exceed the amount of the Commitment. 8.2.2 Upon receipt of the irrevocable drawdown request from the Borrower and approval by the Lender, the Lender shall commence fund raising. Subject to other provisions of this Agreement, the Lender shall upon having successfully raised funds make the raised funds available to the foreign debt account designated by the Borrower before 4pm of the drawdown date. 8.2.3 The Borrower shall submit only one drawdown request under this Agreement.

Drawdown Procedure. All requests for a Drawdown under the Credit Facility shall be made by the Borrower. The Borrower shall submit to the Lender a Drawdown Request, no later than 12:00 noon, New York time, no less than three (3) Business Days prior to the proposed Drawdown date. Each such Drawdown Request shall be given and signed by the Borrower and shall specify (i) the aggregate principal amount of the Drawdown requested from the Lender (which amount shall not be in excess of the unused portion of the Commitment), (ii) the proposed Drawdown date of such funds, (iii) the wire transfer instructions for payment and (iv) such other matters as are set forth on the form of Drawdown Request attached hereto as Schedule “F”. Each Drawdown Request shall be in a minimum aggregate amount of $100,000 or a higher integral multiple of $100,000. The Lender shall conclusively be entitled to rely upon such Drawdown Request from the Borrower and shall have no liability to the Borrower for acting in accordance with any such Drawdown Request.