Common use of Drawstop Notice Clause in Contracts

Drawstop Notice. If on or prior to the sixth Business Day prior to the Requested Drawdown Date the Asset Management Division has determined that all conditions precedent are not fulfilled to its satisfaction then it shall issue a Drawstop Notice to the Facility Agent and the L/C Bank (with a copy to the Operations Division). Failure to issue a Drawstop Notice on or prior to such date shall be without prejudice to the right of the Asset Management Division to subsequently issue a Drawstop Notice within the time provided for in the definition of “Drawstop Notice” in Section 1.01.

Drawstop Notice. If on or prior to the sixth Business Day prior to the Requested Drawdown Date Date, the Asset Management Division has determined that all conditions precedent are not fulfilled to the its satisfaction then it shall issue a Drawstop Notice to the Facility Agent and the L/C Bank (with a copy to the Operations Division). Failure to issue a Drawstop Notice on or prior to such date shall be without prejudice to the right of the Asset Management Division to subsequently issue a Drawstop Notice within the time provided for in the definition of “Drawstop Notice” in Section 1.01.