Drawing down Sample Clauses
The 'Drawing down' clause defines the process by which a borrower can access funds from a loan facility. Typically, it outlines the conditions that must be met before funds are released, such as providing notice to the lender, satisfying any pre-disbursement requirements, and specifying the amount and timing of each drawdown. This clause ensures that both parties understand the steps and obligations involved in accessing loan funds, thereby providing structure and predictability to the disbursement process.
Drawing down. The Borrowers need not use the Facility. However, if a Borrower wants to use a Facility, a Borrower may do so by a single drawdown. The undrawn part of a Facility is automatically cancelled after the Drawing is made.
Drawing down. The Borrower need not use the Facility. However, if the Borrower wants to use the Facility, it may do so by one or more drawdowns.
Drawing down. The Borrower need not use the Facility. However, if the Borrower wants to use the Facility, it may do so by one or more Drawings from the Financiers. A Drawing is provided by a single Financier, and not by the Financiers together.
Drawing down. The Company need not use the Facility. However, if the Company wants to use the Facility, it may do so by one or more drawdowns.