Common use of Drawdown Request Clause in Contracts

Drawdown Request. The request for the drawdown of an Advance may not be delivered by the Borrower until the Facility Agent has confirmed to the Borrower that it has received all of the documents listed in Art. 4.1 (Conditions Precedent) and that each is in form and substance satisfactory to the Facility Agent. In any case, a request for the drawdown will not be regarded as having been duly completed, unless the following conditions have been satisfied: The Facility Agent has received, by no later than 1.00 p.m. Munich time on the third (3rd) Business Day prior to the Drawdown Date the Drawdown Request substantially in the form of Annex 1 (it being understood that a separate Drawdown Request has to be presented for each Tranche) and having the following minimum contents: the proposed Drawdown Date, which must be a Business Day; the amount of the Advance; and the account of the Borrower or such other account as the Borrower may determine to which the Advance is to be transferred by the Facility Agent. The Borrower's Drawdown Request cannot be withdrawn; it binds and obliges the Borrower to accept the requested Advance.

Drawdown Request. The request for the drawdown Drawdown of an Advance may not be delivered by the Borrower until the Facility Agent has confirmed to the Borrower that it has received all of the documents listed in Art. 4.1 (Conditions Precedent) and that each is in form and substance satisfactory to the Facility Agent. In any case, a request for the drawdown Drawdown will not be regarded as having been duly completed, unless the following conditions have been satisfied: The Facility Agent has received, by no later than 1.00 p.m. Munich time on the third (3rd) Business Day prior to the Drawdown Date the Drawdown Request substantially in the form of Annex 1 (it being understood that a separate Drawdown Request has to be presented for each Tranche) and having the following minimum contents: the proposed Drawdown Date, which must be a Business Day; the amount of the Advance; and the account of the Borrower or such other account as the Borrower may determine to which the Advance is to be transferred by the Facility Agent. The Borrower's Drawdown Request cannot be withdrawn; it binds and obliges the Borrower to accept the requested Advance.