Common use of Drawdown Requests Clause in Contracts

Drawdown Requests. Maker and the Payee agree that Maker may request up to Three Hundred Thousand Dollars ($300,000) to fund Maker’s working capital expenses prior to completion of any potential Business Combination. The principal of this Note may be drawn down from time to time prior to the Maturity Date, upon written request from Maker to the Payee (each, a “Drawdown Request”). Each Drawdown Request must state the amount to be drawn down, and must not be an amount less than One Thousand Dollars ($1,000) unless agreed upon by Maker and the Payee. The Payee shall fund each Drawdown Request no later than one (1) business day after receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns collectively under the Working Capital Promissory Notes is Three Hundred Thousand Dollars ($300,000).

Drawdown Requests. Maker and the Payee agree that Maker may request up to Three Five Hundred Thousand Dollars ($300,000500,000) to fund Maker’s working capital expenses prior to completion of any potential Business Combination. The principal of this Note may be drawn down from time to time prior to the Maturity Date, upon written request from Maker to the Payee (each, a “Drawdown Request”). Each Drawdown Request must state the amount to be drawn down, and must not be an amount less than One Thousand Dollars ($1,000) unless agreed upon by Maker and the Payee. The Payee shall fund each Drawdown Request no later than one (1) business day after receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns collectively under the Working Capital Promissory Notes is Three Five Hundred Thousand Dollars ($300,000500,000).