{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "terms-and-conditions-of-this-agreement", "type": "clause", "offset": [15, 53]}, {"key": "each-advance", "type": "clause", "offset": [55, 67]}, {"key": "the-borrowers", "type": "definition", "offset": [85, 98]}, {"key": "agent-from", "type": "definition", "offset": [124, 134]}, {"key": "drawdown-notice", "type": "definition", "offset": [154, 169]}, {"key": "banking-day", "type": "definition", "offset": [209, 220]}, {"key": "drawdown-period", "type": "clause", "offset": [286, 301]}, {"key": "actual-receipt", "type": "definition", "offset": [413, 427]}, {"key": "in-clause", "type": "clause", "offset": [485, 494]}], "samples": [{"hash": "jggWkbVeOwy", "uri": "/contracts/jggWkbVeOwy#drawdown", "label": "Loan Agreement (Aegean Marine Petroleum Network Inc.)", "score": 27.3216972351, "published": true}, {"hash": "knz85X0BB1o", "uri": "/contracts/knz85X0BB1o#drawdown", "label": "Third Supplemental Agreement (Aegean Marine Petroleum Network Inc.)", "score": 25.3216972351, "published": true}, {"hash": "hlsINcs1slK", "uri": "/contracts/hlsINcs1slK#drawdown", "label": "Ninth Supplemental Agreement (Aegean Marine Petroleum Network Inc.)", "score": 25.3216972351, "published": true}], "snippet": "Subject to the terms and conditions of this Agreement, each Advance shall be made to the Borrowers following receipt by the Agent from the Borrowers of 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 for such Advance, on which the Borrowers propose such Advance is made. A Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.6.1, be irrevocable.", "size": 30, "hash": "aa9e76f92da4fb5664742bc532739289", "id": 1}, {"snippet_links": [{"key": "terms-and-conditions-of-this-agreement", "type": "clause", "offset": [15, 53]}, {"key": "to-the-borrower", "type": "clause", "offset": [89, 104]}, {"key": "drawdown-period", "type": "clause", "offset": [116, 131]}, {"key": "facility-agent-from", "type": "definition", "offset": [157, 176]}, {"key": "drawdown-notice", "type": "definition", "offset": [195, 210]}, {"key": "banking-day", "type": "definition", "offset": [253, 264]}, {"key": "proposed-drawdown-date", "type": "clause", "offset": [276, 298]}, {"key": "actual-receipt", "type": "definition", "offset": [340, 354]}, {"key": "in-clause", "type": "clause", "offset": [422, 431]}], "samples": [{"hash": "4BDZOBd1JbF", "uri": "/contracts/4BDZOBd1JbF#drawdown", "label": "Senior Secured Revolving Credit Facility Agreement (Gulfmark Offshore Inc)", "score": 18.0, "published": true}], "snippet": "Subject to the terms and conditions of this Agreement an Advance shall be made available to the Borrower during the Drawdown Period following receipt by the Facility Agent from the Borrower of a Drawdown Notice not later than 11 a.m. on the third (3rd) Banking Day before the proposed Drawdown Date. A Drawdown Notice shall be effective on actual receipt by the Facility Agent, and, once given, shall, subject as provided in clause 5.7, be irrevocable.", "size": 13, "hash": "3a45a0ef46f62c65e998d6029a79e81a", "id": 6}, {"snippet_links": [{"key": "the-borrower-shall", "type": "clause", "offset": [4, 22]}, {"key": "in-accordance-with", "type": "clause", "offset": [70, 88]}, {"key": "the-schedules", "type": "clause", "offset": [89, 102]}, {"key": "as-agreed", "type": "clause", "offset": [103, 112]}, {"key": "under-this-contract", "type": "clause", "offset": [113, 132]}, {"key": "drawdown-application", "type": "definition", "offset": [149, 169]}, {"key": "the-lender", "type": "clause", "offset": [173, 183]}, {"key": "prior-to-the", "type": "clause", "offset": [207, 219]}, {"key": "drawdown-date", "type": "definition", "offset": [225, 238]}, {"key": "contract-for", "type": "definition", "offset": [257, 269]}, {"key": "the-processing", "type": "clause", "offset": [270, 284]}, {"key": "appendix-1", "type": "definition", "offset": [313, 323]}, {"key": "in-the-event", "type": "clause", "offset": [341, 353]}, {"key": "a-change", "type": "clause", "offset": [359, 367]}, {"key": "by-the-borrower", "type": "clause", "offset": [419, 434]}, {"key": "scheduled-day", "type": "clause", "offset": [522, 535]}, {"key": "interest-income", "type": "definition", "offset": [570, 585]}, {"key": "interest-earned", "type": "clause", "offset": [715, 730]}, {"key": "loan-amount", "type": "clause", "offset": [847, 858]}, {"key": "the-approval", "type": "clause", "offset": [886, 898]}, {"key": "submitting-an-application", "type": "clause", "offset": [918, 943]}, {"key": "drawdown-day", "type": "definition", "offset": [996, 1008]}, {"key": "expiry-of", "type": "clause", "offset": [1012, 1021]}, {"key": "drawdown-period", "type": "clause", "offset": [1026, 1041]}, {"key": "where-the-borrower", "type": "definition", "offset": [1288, 1306]}, {"key": "its-application", "type": "definition", "offset": [1322, 1337]}, {"key": "draw-down", "type": "definition", "offset": [1346, 1355]}, {"key": "lender-may", "type": "definition", "offset": [1459, 1469]}, {"key": "notify-the", "type": "clause", "offset": [1470, 1480]}, {"key": "to-handle", "type": "definition", "offset": [1490, 1499]}, {"key": "related-procedure", "type": "definition", "offset": [1500, 1517]}, {"key": "date-of", "type": "clause", "offset": [1557, 1564]}, {"key": "the-applications", "type": "clause", "offset": [1628, 1644]}, {"key": "rights-to-cancel", "type": "clause", "offset": [1672, 1688]}, {"key": "the-terms-and-conditions", "type": "clause", "offset": [1734, 1758]}, {"key": "drawdown-of-the-loan", "type": "clause", "offset": [1949, 1969]}], "samples": [{"hash": "j7sYjNjUfTv", "uri": "/contracts/j7sYjNjUfTv#drawdown", "label": "Working Capital Loan Contract (CHINA METRO-RURAL HOLDINGS LTD)", "score": 22.5427780151, "published": true}, {"hash": "cz1GsB6cJV0", "uri": "/contracts/cz1GsB6cJV0#drawdown", "label": "Working Capital Loan Contract (CHINA METRO-RURAL HOLDINGS LTD)", "score": 22.5427780151, "published": true}, {"hash": "c8JInJC5593", "uri": "/contracts/c8JInJC5593#drawdown", "label": "Working Capital Loan Contract (CHINA METRO-RURAL HOLDINGS LTD)", "score": 21.5379867554, "published": true}], "snippet": "(1) The Borrower shall make one-time drawdown or instalments drawdown in accordance with the schedules as agreed under this Contract, and submit the drawdown application to the Lender three (3) banking days prior to the each drawdown date as agreed in this Contract for the processing of draw procedure (refer to Appendix 1 for format )\n(2) In the event that a change the drawdown date such as postponement is required by the Borrower, the Borrower shall obtain consent from the Lender three (3) banking days prior to the scheduled day, and shall pay the Lender loss of interest income as a result of such change (loss of interest income equals to interest the Lender should have earned from the loan deduct by the interest earned through savings over the same period).\n(3) In the event that the Borrow wishes to cancel all or part of the undrawn loan amount, the Borrower shall obtain the approval from the Lender by submitting an application to the Lender three (3) days prior to the scheduled drawdown day or expiry of the drawdown period. The Borrower confirms that in the event where all or part of the loan was not drawn down upon the expiry of the drawdown period, the Borrower shall pay an undertaking fees to the Lender (as detailed in Part I of this Contract).\n(4) In the event where the Borrower fails to lodge its application for the draw down or postponement of the drawdown upon the expiry of the scheduled drawdown date or drawdown period, the Lender may notify the Borrower to handle related procedure within three (3) banking days from the date of the expiry. Where the Borrower fails to complete either one of the applications, the Lender shall have the rights to cancel the undrawn loan amount.\n(5) Notwithstanding the terms and conditions as agreed elsewhere in this Contract, the Lender shall have the rights to refuse the Borrower\u2019s drawdown application and cancel all or part of the loan agreed in this Contract, prior to any drawdown of the loan.", "size": 12, "hash": "699193557de0ca78a01eb6eaeec8624b", "id": 7}, {"snippet_links": [{"key": "the-lender", "type": "clause", "offset": [0, 10]}, {"key": "the-loan", "type": "clause", "offset": [36, 44]}, {"key": "to-the-borrower", "type": "clause", "offset": [75, 90]}, {"key": "requirements-of-the", "type": "clause", "offset": [98, 117]}, {"key": "in-relation-to", "type": "clause", "offset": [125, 139]}], "samples": [{"hash": "4OEsPA82r70", "uri": "/contracts/4OEsPA82r70#drawdown", "label": "Loan Agreement", "score": 33.0256614685, "published": true}, {"hash": "4aOUx1SK9aF", "uri": "/contracts/4aOUx1SK9aF#drawdown", "label": "Loan Agreement", "score": 32.7652053833, "published": true}, {"hash": "77I7Vfwgf9f", "uri": "/contracts/77I7Vfwgf9f#drawdown", "label": "Loan Agreement", "score": 31.9166221619, "published": true}], "snippet": "The Lender is only required to make the Loan and each Instalment available to the Borrower if all requirements of the Lender in relation to the Loan have been met, including:", "size": 21, "hash": "c21d9b8f2dcd4dafdd2e7e60b065b7cd", "id": 3}, {"snippet_links": [{"key": "the-borrower-shall", "type": "clause", "offset": [0, 18]}, {"key": "in-the-case", "type": "clause", "offset": [82, 93]}, {"key": "portion-1", "type": "definition", "offset": [97, 106]}, {"key": "portion-2", "type": "definition", "offset": [111, 120]}, {"key": "the-agent", "type": "clause", "offset": [122, 131]}, {"key": "business-days", "type": "clause", "offset": [159, 172]}, {"key": "of-the-borrower", "type": "clause", "offset": [181, 196]}, {"key": "request-for", 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{"key": "euro-amount", "type": "definition", "offset": [1303, 1314]}, {"key": "equivalent-amount", "type": "definition", "offset": [1380, 1397]}, {"key": "rate-of-exchange", "type": "clause", "offset": [1424, 1440]}, {"key": "hsbc-bank", "type": "definition", "offset": [1483, 1492]}, {"key": "spot-rate", "type": "definition", "offset": [1499, 1508]}, {"key": "prior-to-the-termination-date", "type": "clause", "offset": [1551, 1580]}, {"key": "portion-3", "type": "definition", "offset": [1696, 1705]}, {"key": "in-total", "type": "clause", "offset": [2043, 2051]}], "samples": [{"hash": "1AeIXBk4JMh", "uri": "/contracts/1AeIXBk4JMh#drawdown", "label": "Secured Loan Agreement (NCL CORP Ltd.)", "score": 24.0198497772, "published": true}, {"hash": "4qo1k4n6pbx", "uri": "/contracts/4qo1k4n6pbx#drawdown", "label": "Secured Loan Agreement (NCL CORP Ltd.)", "score": 22.8364143372, "published": true}, {"hash": "lJ8Y27uQguw", "uri": "/contracts/lJ8Y27uQguw#drawdown", "label": "Loan Agreement (NCL CORP Ltd.)", "score": 20.3942508698, "published": true}], "snippet": "The Borrower shall only make drawings under any Portion of the Facility if:\n2.3.1 in the case of Portion 1 and Portion 2, the Agent receives at least five (5) Business Days\u2019 notice of the Borrower\u2019s request for such drawing in the form of Schedule 3;\n2.3.2 no Event of Default has occurred before the date of such drawing;\n2.3.3 no written notice has been received indicating that the Hermes Cover does not validly exist without restriction;\n2.3.4 the representations and warranties set out in Clause 9 and each of the other Security Documents are correct on the date of such drawing;\n2.3.5 it is then lawful for each of the Lenders to make available its Contribution to the Facility; and\n2.3.6 the Agent has been notified by the Commercial Loan Agent that all conditions precedent to drawdown of the Commercial Loan have been satisfied save for those which are to be satisfied pursuant to this Clause 2.3 and Clause 2.7, PROVIDED THAT Tranche 1 and Portion 2 shall not be capable of drawing until twenty per cent (20%) of the Contract Price has been paid by the Borrower to the Builder and Portion 2 shall not be capable of drawing until the Hermes Premium or the relevant part thereof has been paid by the Borrower to Hermes through the Hermes Agent and PROVIDED FURTHER THAT the aggregate of (a) the Euro amount of each amount of Portion 2 drawn down hereunder in Euro (b) the equivalent amount in Euro determined at the rate of exchange for Euro against Dollars as determined at HSBC Bank plc\u2019s spot rate at about 10.00 a.m. two (2) Business Days prior to the Termination Date of each amount of Portion 2 drawn down hereunder in Dollars (c) the Euro amount of the aggregate of each amount of Portion 3 drawn down hereunder in Euro and (d) the equivalent amount in Euro determined at the rate of exchange for Euro against Dollars as determined at HSBC Bank plc\u2019s spot rate at about 10.00 a.m. two (2) Business Days prior to the Termination Date of the aggregate of each amount of Portion 3 drawn down hereunder in Dollars, shall not exceed in total nineteen million six hundred thousand Euro (\u20ac19,600,000).", "size": 13, "hash": "849ce9994def822b32700e69c857cad9", "id": 5}, {"snippet_links": [{"key": "terms-and-conditions-of-this-agreement", "type": "clause", "offset": [15, 53]}, {"key": "each-advance", "type": "clause", "offset": [55, 67]}, {"key": "by-the-bank", "type": "clause", "offset": [100, 111]}, {"key": "the-borrowers", "type": "definition", "offset": [117, 130]}, {"key": "drawdown-notice", "type": "definition", "offset": [136, 151]}, {"key": "banking-day", "type": "definition", "offset": [192, 203]}, {"key": "the-relevant", "type": "clause", "offset": [265, 277]}, {"key": "drawdown-period", "type": "clause", "offset": [278, 293]}, {"key": "actual-receipt", "type": "definition", "offset": [381, 395]}, {"key": "in-clause", "type": "clause", "offset": [452, 461]}], "samples": [{"hash": "ciGWHChfUuj", "uri": "/contracts/ciGWHChfUuj#drawdown", "label": "Loan Agreement (Aegean Marine Petroleum Network Inc.)", "score": 25.3216972351, "published": true}, {"hash": "99029ggaKdy", "uri": "/contracts/99029ggaKdy#drawdown", "label": "Eighth Supplemental Agreement (Aegean Marine Petroleum Network Inc.)", "score": 22.315536499, "published": true}, {"hash": "hZ5dUwN8RmS", "uri": "/contracts/hZ5dUwN8RmS#drawdown", "label": "Loan Agreement (Aegean Marine Petroleum Network Inc.)", "score": 21.0, "published": true}], "snippet": "Subject to the terms and conditions of this Agreement, each Advance shall be made following receipt by the Bank from the Borrowers of a Drawdown Notice not later than 10:00 a.m. on the second Banking Day before the date, which shall be a Banking Day falling within the relevant Drawdown Period, on which such Advance is intended to be made. A Drawdown Notice shall be effective on actual receipt by the Bank and, once given, shall, subject as provided in clause 3.6.1, be irrevocable.", "size": 23, "hash": "927c5be22ec50dbc3b215208f0548a5b", "id": 2}, {"snippet_links": [{"key": "the-borrower-shall", "type": "clause", "offset": [0, 18]}, {"key": "in-the-case", "type": "clause", "offset": [82, 93]}, {"key": "portion-1", "type": "definition", "offset": [97, 106]}, {"key": "portion-2", "type": "definition", "offset": [111, 120]}, {"key": "the-agent", "type": "clause", "offset": [122, 131]}, {"key": "business-days", "type": "clause", "offset": [159, 172]}, {"key": "of-the-borrower", "type": "clause", "offset": [181, 196]}, {"key": "request-for", "type": "definition", "offset": [199, 210]}, {"key": "form-of", "type": "clause", "offset": [231, 238]}, {"key": "schedule-3", "type": "definition", "offset": [239, 249]}, {"key": "no-event-of-default", "type": "clause", "offset": [257, 276]}, {"key": "possible-event-of-default", "type": "definition", "offset": [280, 305]}, {"key": "date-of", "type": "clause", "offset": [330, 337]}, {"key": "written-notice", "type": "clause", "offset": [361, 375]}, {"key": "hermes-cover", "type": "clause", "offset": [414, 426]}, {"key": "the-representations-and-warranties", "type": "clause", "offset": [477, 511]}, {"key": "set-out", "type": "definition", "offset": [512, 519]}, {"key": "clause-9", "type": "clause", "offset": [523, 531]}, {"key": "other-security-documents", "type": "clause", "offset": [548, 572]}, {"key": "each-of-the-lenders", "type": "clause", "offset": [646, 665]}, {"key": "make-available", "type": "definition", "offset": [669, 683]}, {"key": "to-the-facility", "type": "definition", "offset": [701, 716]}, {"key": "provided-that", "type": "definition", "offset": [718, 731]}, {"key": "loan-shall", "type": "definition", "offset": [747, 757]}, {"key": "capable-of", "type": "definition", "offset": [761, 771]}, {"key": "per-cent", "type": "definition", "offset": [793, 801]}, {"key": "the-contract-price", "type": "clause", "offset": [811, 829]}, {"key": "by-the-borrower", "type": "clause", "offset": [844, 859]}, {"key": "the-builder", "type": "clause", "offset": [863, 874]}, {"key": "hermes-issuing-fees", "type": "definition", "offset": [938, 957]}, {"key": "hermes-insurance-premium", "type": "definition", "offset": [996, 1020]}, {"key": "hermes-agent", "type": "definition", "offset": [1089, 1101]}, {"key": "equivalent-amount", "type": "definition", "offset": [1149, 1166]}, {"key": "portion-3", "type": "definition", "offset": [1250, 1259]}, {"key": "in-total", "type": "clause", "offset": [1298, 1306]}], "samples": [{"hash": "5sp7r4mQkoe", "uri": "/contracts/5sp7r4mQkoe#drawdown", "label": "Eighth Supplemental Deed to Secured Loan Agreement (NCL CORP Ltd.)", "score": 23.0198497772, "published": true}, {"hash": "lAPwOQoAR6C", "uri": "/contracts/lAPwOQoAR6C#drawdown", "label": "Eighth Supplemental Deed to Secured Loan Agreement (NCL CORP Ltd.)", "score": 22.8364143372, "published": true}, {"hash": "h239grCVKK0", "uri": "/contracts/h239grCVKK0#drawdown", "label": "Fifth Supplemental Deed (NCL CORP Ltd.)", "score": 20.3942508698, "published": true}], "snippet": "The Borrower shall only make drawings under any Portion of the Facility if:\n2.3.1 in the case of Portion 1 and Portion 2, the Agent receives at least five (5) Business Days\u2019 notice of the Borrower\u2019s request for such drawing in the form of Schedule 3;\n2.3.2 no Event of Default or Possible Event of Default has occurred before the date of such drawing;\n2.3.3 no written notice has been received indicating that the Hermes Cover does not validly exist without restriction;\n2.3.4 the representations and warranties set out in Clause 9 and each of the other Security Documents are correct on the date of such drawing; and\n2.3.5 it is then lawful for each of the Lenders to make available its Contribution to the Facility, PROVIDED THAT no part of the Loan shall be capable of drawing until twenty per cent (20%) of the Contract Price has been paid by the Borrower to the Builder and no part of Portion 2 shall be capable of drawing until the Hermes Issuing Fees and twenty five per cent (25%) of the Hermes Insurance Premium have become due and been paid by the Borrower to Hermes through the Hermes Agent and PROVIDED FURTHER THAT the aggregate of the Equivalent Amount of the Portion 2 Tranches drawn down hereunder and the aggregate of the amounts of Portion 3 drawn down hereunder shall not exceed in total twenty two million and fifty thousand Dollars (USD22,050,000).", "size": 11, "hash": "3fcfa9fae0135f9ece728005c5fd3090", "id": 9}, {"snippet_links": [{"key": "terms-and-conditions-of-this-agreement", "type": "clause", "offset": [21, 59]}, {"key": "loan-shall", "type": "definition", "offset": [65, 75]}, {"key": "to-the-borrower", "type": "clause", "offset": [94, 109]}, {"key": "agent-from", "type": "definition", "offset": [143, 153]}, {"key": "drawdown-notice", "type": "definition", "offset": [174, 189]}, {"key": "banking-day", "type": "definition", "offset": [229, 240]}, {"key": "drawdown-period", "type": "clause", "offset": [306, 321]}, {"key": "actual-receipt", "type": "definition", "offset": [430, 444]}, {"key": "in-clause", "type": "clause", "offset": [510, 519]}], "samples": [{"hash": "3PjQr0Cunyt", "uri": "/contracts/3PjQr0Cunyt#drawdown", "label": "Facility Agreement", "score": 24.5961666107, "published": true}, {"hash": "6rCXlHvYvHQ", "uri": "/contracts/6rCXlHvYvHQ#drawdown", "label": "Facility Agreement (Navios Maritime Partners L.P.)", "score": 21.6776180267, "published": true}], "snippet": "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.\n2.4.2 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.", "size": 14, "hash": "336f067da6671ef26ea0462ba09bc816", "id": 4}, {"snippet_links": [{"key": "terms-and-conditions-of-this-agreement", "type": "clause", "offset": [15, 53]}, {"key": "loan-shall", "type": "definition", "offset": [59, 69]}, {"key": "by-the-bank", "type": "clause", "offset": [143, 154]}, {"key": "the-borrower", "type": "clause", "offset": [160, 172]}, {"key": "drawdown-notice", "type": "definition", "offset": [178, 193]}, {"key": "banking-day", "type": "definition", "offset": [233, 244]}, {"key": "proposed-drawdown-date", "type": "clause", "offset": [256, 278]}, {"key": "actual-receipt", "type": "definition", "offset": [320, 334]}, {"key": "in-clause", "type": "clause", "offset": [391, 400]}], "samples": [{"hash": "hiGU1b4JixB", "uri": "/contracts/hiGU1b4JixB#drawdown", "label": "Loan Agreement (Capital Maritime & Trading Corp.)", "score": 19.0, "published": true}, {"hash": "fFNrBU29t4R", "uri": "/contracts/fFNrBU29t4R#drawdown", "label": "Loan Agreement (Capital Maritime & Trading Corp.)", "score": 19.0, "published": true}, {"hash": "bKfpS7dYkh9", "uri": "/contracts/bKfpS7dYkh9#drawdown", "label": "Loan Agreement (B Plus H Ocean Carriers LTD)", "score": 19.0, "published": true}], "snippet": "Subject to the terms and conditions of this Agreement, the Loan shall be advanced in full in one amount on the Drawdown Date following receipt by the Bank from the Borrower of a Drawdown Notice not later than 10:00 a.m. on the third Banking Day before the proposed Drawdown Date. A Drawdown Notice shall be effective on actual receipt by the Bank and, once given, shall, subject as provided in clause 3.6.1, be irrevocable.", "size": 12, "hash": "f921bb3907dee70a5b1d1825125469e5", "id": 8}, {"snippet_links": [{"key": "subject-to-clause", "type": "clause", "offset": [4, 21]}, {"key": "loan-to-the-borrower", "type": "clause", "offset": [87, 107]}, {"key": "sum-of", "type": "clause", "offset": [138, 144]}, {"key": "first-drawing", "type": "definition", "offset": [159, 172]}, {"key": "agreement-or", "type": "definition", "offset": [211, 223]}, {"key": "the-parties", "type": "clause", "offset": [243, 254]}, {"key": "in-writing", "type": "definition", "offset": [275, 285]}, {"key": "first-disbursement-date", "type": "definition", "offset": [288, 311]}, {"key": "the-events", "type": "clause", "offset": [332, 342]}, {"key": "in-clauses", "type": "clause", "offset": [343, 353]}, {"key": "subject-to-the", "type": "definition", "offset": [403, 417]}, {"key": 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"type": "clause", "offset": [4086, 4110]}, {"key": "save-for-the", "type": "clause", "offset": [4112, 4124]}, {"key": "obligation-of-confidentiality", "type": "clause", "offset": [4134, 4163]}, {"key": "clause-14", "type": "clause", "offset": [4170, 4179]}, {"key": "termination-of-this-agreement", "type": "clause", "offset": [4204, 4233]}], "samples": [{"hash": "1u0uFMMXiX9", "uri": "/contracts/1u0uFMMXiX9#drawdown", "label": "Convertible Loan Agreement (CytoMed Therapeutics LTD)", "score": 33.0841903687, "published": true}, {"hash": "721wuH6RhRR", "uri": "/contracts/721wuH6RhRR#drawdown", "label": "Convertible Loan Agreement (CytoMed Therapeutics Pte. Ltd.)", "score": 32.8788490295, "published": true}, {"hash": "Pw8pJM9g0L", "uri": "/contracts/Pw8pJM9g0L#drawdown", "label": "Convertible Loan Agreement (CytoMed Therapeutics Pte. Ltd.)", "score": 32.7446937561, "published": true}], "snippet": "4.1 Subject to Clause 4.2, the Lender shall effect the disbursement of the Convertible Loan to the Borrower as follows:\n(a) the aggregate sum of S$1,000,000 (\u201cFirst Drawing\u201d) to be disbursed on the date of this Agreement or such other date as the Parties may otherwise agree in writing (\u201cFirst Disbursement Date\u201d), whereupon all of the events in Clauses 4.2 and 4.3 described below shall occur; and\n(b) subject to the satisfaction of the following conditions:\n(i) the disbursement of the First Drawing having been successfully effected;\n(ii) no material adverse change or a development involving a prospective material adverse change (as determined by the Lender) in the prospects, operations or financial conditions of the Borrower occurring between the First Disbursement Date up to and including the Second Disbursement Date;\n(iii) all representations, undertakings, covenants and warranties of the Borrower under this Agreement being complied with, true, accurate and correct as at the date of this Agreement and each day from the First Disbursement Date up to and including the Second Disbursement Date; and\n(iv) no Event of Default has occurred, the aggregate sum of S$500,000 (\u201cSecond Drawing\u201d) shall be made available to the Borrower, whereupon the Lender shall disburse the aggregate amount of the Second Drawing less the Year 1 Interest II into the Designated Bank Account on the date falling six (6) months immediately after the First Disbursement Date (\u201cSecond Disbursement Date\u201d).\n4.2 Notwithstanding any other provisions in this Agreement, the Lender shall not be obliged to fulfil any of its obligations under this Agreement including without limitation, the disbursement of the First Drawing by the Lender on the First Disbursement Date or the disbursement of the Second Drawing by the Lender on the Second Disbursement Date, unless the following is delivered or made available by the Borrower to the Lender on the First Disbursement Date:\n(a) certified true copies of the board and shareholders\u2019 resolutions of the Borrower duly passed by the Directors and the Borrower Shareholders respectively, in accordance with the constitution (or equivalent constitutive documents) of the Borrower, approving the entry by the Borrower into this Agreement and all other documents and agreements ancilliary or pusuant to or in connection with this Agreement;\n(b) a personal guarantee executed by CCK in favour of the Lender in the form set out in Schedule 4 hereof guranteeing the obligations of the Borrower hereunder (including the Borrower\u2019s obligation to repay the Convertible Loan and interest thereon) (\u201cPersonal Guarantee\u201d);\n(c) a corporate guarantee issued by ML in favour of the Lender in the form set out in Schedule 5 hereof guranteeing the obligations of the Borrower hereunder (including the Borrower\u2019s obligation to repay the Convertible Loan and interest thereon) (\u201cCorporate Guarantee\u201d);\n(d) certified true copies of the board and shareholders\u2019 resolutions of ML duly passed by the directors and the shareholders of ML respectively, in accordance with the constitution (or equivalent constitutive documents) of ML, approving the entry by ML into the Corporate Guarantee;\n(e) a statutory declaration duly made by CCK in the form set out in Schedule 6 hereof; and\n(f) a letter of reference from the Bank of Singapore Limited or such other Singapore licensed bank to be furnished by CCK, in form and substance satisfactory to the Lender in its sole discretion, confirming the net asset value of ML being at least [*****] (\u201cLOR\u201d).\n4.3 On the First Disbursement Date, and against compliance by the Borrower with the provisions of Clause 4.2 above, the Lender shall disburse the aggregate amount of the First Drawing less the Year 1 Interest I into the Designated Bank Account.\n4.4 If the First Drawing does not take place on or before the date falling thirty (30) Business Days after the date of this Agreement, the Lender shall be entitled to (in addition to and without prejudice to all other rights and remedies available to it, including the right to claim damages) terminate this Agreement (save for the Parties\u2019 obligation of confidentiality under Clause 14 which shall survive the termination of this Agreement).", "size": 10, "hash": "9372d5eb789a579a3f00e9bb81057c68", "id": 10}], "next_curs": "ClESS2oVc35sYXdpbnNpZGVyY29udHJhY3Rzci0LEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhFkcmF3ZG93biMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"title": "Drawdown", "children": [["availability", "Availability"], ["drawdown-notice-irrevocable", "Drawdown Notice irrevocable"], ["lenders-to-make-available-contributions", "Lenders to make available Contributions"], ["notification-to-lenders-of-receipt-of-a-drawdown-notice", "Notification to Lenders of receipt of a Drawdown Notice"], ["disbursement-of-advance", "Disbursement of Advance"]], "size": 1075, "parents": [["drawdown", "Drawdown"], ["majority-lenders", "Majority Lenders"], ["notices", "Notices"], ["the-total-commitment-and-the-advances", "The Total Commitment and the Advances"], ["guidance", "Guidance"]], "id": "drawdown", "related": [["drawdown-date", "Drawdown Date", "<strong>Drawdown</strong> Date"], ["drawdown-notice", "Drawdown Notice", "<strong>Drawdown</strong> Notice"], ["drawdowns", "Drawdowns", "<strong>Drawdowns</strong>"], ["utilisation", "Utilisation", "Utilisation"], ["initial-advance", "Initial Advance", "Initial Advance"]], "related_snippets": [], "updated": "2026-07-04T04:24:40+00:00", "also_ask": ["What are the minimum and maximum drawdown conditions that should be negotiated for client protection?", "Which representations, warranties, or covenants are essential to include in a drawdown clause?", "What are the most common legal pitfalls or ambiguities in drawdown provisions that could lead to disputes?", "How do drawdown mechanisms in this agreement compare to market standards or similar transactions?", "What factors most influence a court\u2019s decision to enforce or invalidate a drawdown clause?"], "drafting_tip": "Specify drawdown conditions, set clear notice requirements, and define timing to prevent disputes and ensure predictable fund access.", "explanation": "A Drawdown clause defines the process by which a borrower can access funds from a loan facility, typically in installments rather than as a single lump sum. This clause outlines the conditions, procedures, and timing for requesting and receiving each portion of the loan, such as providing notice to the lender and meeting any pre-disbursement requirements. Its core practical function is to give the borrower flexibility in accessing funds as needed while allowing the lender to monitor and control the disbursement process, thereby managing risk and ensuring proper use of the loan."}, "json": true, "cursor": ""}}