Common use of Drawdown Requests Clause in Contracts

Drawdown Requests. Maker and Payee agree that Maker may request, from time to time, up to Five Hundred Thousand Dollars ($500,000) in aggregate draw downs under this Note to be used for working capital, or costs and expenses related to the Offering and the pursuit of a Business Combination. The principal amount of this Note may be drawn down from time to time prior to the Maturity Date upon written request from Maker to Payee (each, a “Drawdown Request”) and set forth on the Drawdown Request Schedule included as Annex A hereto. Each Drawdown Request must state the amount to be drawn down, and must not be in an amount less than Ten Thousand Dollars ($10,000). Payee shall fund each Drawdown Request no later than three (3) business days after receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns to be made under this Note may not exceed Five Hundred Thousand Dollars ($500,000). No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker.

Drawdown Requests. Maker and Payee agree that Maker may request, from time to time, up to Five Hundred Thousand One Million Dollars ($500,0001,000,000) in aggregate draw downs under this Note to be used for working capital, or costs and expenses related to the Offering and the pursuit of a Business Combination. The principal amount of this Note may be drawn down from time to time prior to the Maturity Date upon written request from Maker to Payee (each, a “Drawdown Request”) and set forth on the Drawdown Request Schedule included as Annex A hereto. Each Drawdown Request must state the amount to be drawn down, and must not be in an amount less than Ten Thousand Dollars ($10,000). Payee shall fund each Drawdown Request no later than three (3) business days after receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns to be made under this Note may not exceed Five Hundred Thousand One Million Dollars ($500,0001,000,000). No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker.

Drawdown Requests. Maker and Payee agree that Maker may request, from time to time, up to Five Hundred Thousand Three Million Dollars ($500,0003,000,000) in aggregate draw downs under this Note to be used for working capital, or costs and expenses related to the Offering and the pursuit of a Business CombinationMaker’s operating expenses or initial business combination. The principal amount of this Note may be drawn down from time to time prior to the Maturity Date date upon written request from Maker to Payee (each, a “Drawdown Request”) and set forth on the ), provided that each such Drawdown Request Schedule included as Annex A heretois duly authorized by an executive officer of Maker. Each Drawdown Request must state the amount to be drawn down, and must not be in an amount less than Ten Thousand Dollars ($10,000)) unless agreed upon by Maker and Payee. Payee shall fund each Drawdown Request no later than three five (35) business days after receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns to be made outstanding under this Note at any time may not exceed Five Hundred Thousand Three Million Dollars ($500,0003,000,000). Once an amount is drawn down under this Note, it shall not be available for future Drawdown Requests even if prepaid. No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker.”