Common use of Drawdown Clause in Contracts

Drawdown. 2.4.1 Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower following receipt by the Payment Agent from the Borrower of the Drawdown Notice not later than 10:00 a.m. on the third Banking Day before the date, which shall be a Banking Day falling within the Drawdown Period, on which the Borrower proposes the Loan is made available. 2.4.2 The Drawdown Notice shall be effective on actual receipt by the Payment Agent and, once given, shall, subject as provided in clause 3.6, be irrevocable.

Appears in 2 contracts

Sources: Facility Agreement, Facility Agreement (Navios Maritime Partners L.P.)

Drawdown. 2.4.1 Subject to the terms and conditions of this Agreement, the Loan each Advance shall be made available to the Borrower following receipt by the Payment Agent from the Borrower of the a Drawdown Notice not later than 10:00 a.m. on the third Banking Day before the date, which shall be a Banking Day falling within the Drawdown Period, on which the Borrower proposes the Loan such Advance is made available. 2.4.2 The A Drawdown Notice shall be effective on actual receipt by the Payment Agent and, once given, shall, subject as provided in clause 3.6, be irrevocable.

Appears in 2 contracts

Sources: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)

Drawdown. 2.4.1 Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower following receipt by the Payment Agent Bank from the Borrower of the a Drawdown Notice not later than 10:00 a.m. on the third second Banking Day before the datedate on which the Borrower proposes the Loan is made, which shall be a Banking Day falling within not later than the Drawdown Period, on which the Borrower proposes the Loan is made available. 2.4.2 The Termination Date. A Drawdown Notice shall be effective on actual receipt by the Payment Agent and, Bank and once given, given shall, subject as provided in clause 3.63.6.1, be irrevocable.

Appears in 2 contracts

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.)

Drawdown. 2.4.1 Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower following receipt by the Payment Agent from the Borrower of the a Drawdown Notice not later than 10:00 10 a.m. on the third Banking Day before the dateDrawdown Date, which shall be a Banking Day falling within the Drawdown Period, on which the Borrower proposes the Loan is made available. 2.4.2 The . A Drawdown Notice shall be effective on actual receipt by the Payment Agent and, once given, shall, subject as provided in clause 3.63.6.1, be irrevocable.

Appears in 1 contract

Sources: Facility Agreement (Aries Maritime Transport LTD)

Drawdown. 2.4.1 Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower following receipt by the Payment Agent from the Borrower of the Drawdown Notice not later than 10:00 a.m. on the third Banking Day before the date, which shall be a Banking Day falling within the Drawdown Period, on which the Borrower proposes the Loan is made available. 2.4.2 The Drawdown Notice shall be effective on actual receipt by the Payment Agent and, once given, shall, subject as provided in clause 3.6, be irrevocable.

Appears in 1 contract

Sources: Facility Agreement (Navios Maritime Partners L.P.)

Drawdown. 2.4.1 Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower following receipt by the Payment Agent from the Borrower of the Drawdown Notice not later than 10:00 a.m. on the third Banking Day before the date, which shall be a Banking Day falling within the Drawdown Period, on which the Borrower proposes the Loan is made available. 2.4.2 The Drawdown Notice shall be effective on actual receipt by the Payment Agent and, once given, shall, subject as provided in clause 3.62.6, be irrevocable.

Appears in 1 contract

Sources: Facility Agreement (Navios Maritime Partners L.P.)

Drawdown. 2.4.1 Subject to On the terms and subject to the conditions of this Agreement, the Loan shall be made available advanced to the Borrower on the Drawdown Date following receipt by the Payment Agent from the Borrower of the a Drawdown Notice not later than 10:00 a.m. on the third Banking Day before the date, which shall be a Banking Day falling within proposed Drawdown Date (or such shorter period as the Drawdown Period, on which the Borrower proposes the Loan is made availableLenders may agree). 2.4.2 The Drawdown Notice shall be effective on actual receipt by the Payment Agent and, once given, shall, subject as provided in clause 3.6, be irrevocable.

Appears in 1 contract

Sources: Facility Agreement (Pyxis Tankers Inc.)

Drawdown. 2.4.1 2.2.1 Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower Borrowers following receipt by the Payment Agent Lender from the Borrower Borrowers of the a Drawdown Notice not later than 10:00 a.m. on the third two Banking Day before the date, which shall be a Banking Day falling within the Drawdown Period, on which the Borrower proposes Borrowers propose that the Loan is made available. 2.4.2 2.2.2 The Drawdown Notice shall be effective on actual receipt by the Payment Agent Lender and, once given, shall, subject as provided in clause 3.63.5, be irrevocable.

Appears in 1 contract

Sources: Facility Agreement (Euroseas Ltd.)

Drawdown. 2.4.1 2.2.1 Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower following receipt by the Payment Agent Lender from the Borrower of the a Drawdown Notice not later than 10:00 a.m. on the third Banking Day before the date, which shall be a Banking Day falling within the Drawdown Period, on which the Borrower proposes the Loan is made available. 2.4.2 2.2.2 The Drawdown Notice shall be effective on actual receipt by the Payment Agent Lender and, once given, shall, subject as provided in clause 3.63.5, be irrevocable.

Appears in 1 contract

Sources: Facility Agreement (Euroseas Ltd.)

Drawdown. 2.4.1 2.2.1 Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower following receipt by the Payment Agent Lender from the Borrower of the a Drawdown Notice not later than 10:00 a.m. (Taipei Time) on the third Banking Day before the date, which shall be a Banking Day falling within the Drawdown Period, on which the Borrower proposes the Loan is made available. 2.4.2 2.2.2 The Drawdown Notice shall be effective on actual receipt by the Payment Agent Lender and, once given, shall, subject as provided in clause 3.63.4, be irrevocable.

Appears in 1 contract

Sources: Loan Agreement (EuroDry Ltd.)

Drawdown. 2.4.1 2.2.1 Subject to the terms and conditions of this Agreement, the Loan shall be made available to the Borrower following receipt by the Payment Agent Lender from the Borrower of the a Drawdown Notice not later than 10:00 a.m. on the third one Banking Day before the date, which shall be a Banking Day falling within the Drawdown Period, on which the Borrower proposes the Loan is made available. 2.4.2 2.2.2 The Drawdown Notice shall be effective on actual receipt by the Payment Agent Lender and, once given, shall, subject as provided in clause 3.63.5, be irrevocable.

Appears in 1 contract

Sources: Facility Agreement (Euroseas Ltd.)