Executed Drawdown Notice Clause Samples
An Executed Drawdown Notice is a formal notification from a borrower to a lender indicating the borrower's intention to access a specified portion of an available loan facility. This notice typically includes details such as the amount to be drawn, the proposed drawdown date, and confirmation that all conditions precedent have been satisfied. By requiring the borrower to submit this notice before funds are disbursed, the clause ensures that both parties are clear on the timing and amount of each loan advance, thereby facilitating orderly loan administration and reducing the risk of misunderstandings or disputes.
Executed Drawdown Notice. The Investor shall have received the Drawdown Notice executed by an officer of the Company and the representations contained in such Drawdown Notice shall be true and correct as of each Condition Satisfaction Date.