Drawstop Notices Clause Samples

Drawstop Notices. (i) Issuance Following the issuance of any Advance Request Approval Notice by DOE pursuant to Section 2.03(a) (Advance Requests) above and on or prior to the Requested Advance Date, DOE or FFB may, from time to time, issue a notice substantially in the form attached hereto as Exhibit B (Form of Drawstop Notice) (a “Drawstop Notice”) to the Borrower and to DOE or FFB, as the case may be, if and only if DOE or FFB, as the case may be, determines that: (A) any condition set forth in Section 5.03 (Conditions Precedent to Each First Advance Date), Section 5.04 (Advance Approval Conditions Precedent) and 5.06 (Conditions Precedent to FFB Advance), as applicable, with respect to such Advance is not met, or, having been met, is no longer met; or (B) to the extent the Advance Request Approval Notice has been issued for any Advance under any FFB Note and relevant FFB Note Purchase Agreement, the conditions precedent to such Advance contained in the relevant FFB Note and the relevant FFB Note Purchase Agreement are not met, or, having been met, are no longer met. (ii) Consequences If a Drawstop Notice is issued, FFB shall not be obligated to make the requested Advance set forth on such Drawstop Notice; provided, that if FFB makes any such Advance to the Borrower following the issuance of a Drawstop Notice, the Borrower shall return such Advance to FFB within one (1) Business Day following receipt thereof; and, provided further, that any amount required to be returned by the Borrower pursuant to this clause (ii) shall accrue interest at the Late Charge Rate from the date such Advance is made until, and including the date such Advance is returned and be subject to payment of a make-whole amount in accordance with the relevant FFB Note. Following the return of such Advance, FFB shall deliver an invoice to the Borrower setting forth the interest and other applicable make-whole amount due and payable with respect to such returned amount. The Borrower shall pay promptly, but in no event later than five (5) Business Days following delivery of such invoice, such interest and other applicable make-whole amounts as directed by FFB, and the Borrower shall pay all costs and expenses incurred by DOE, FFB, or the Collateral Agent as a result of such Advance withdrawal.