Common use of Payment of Loan Proceeds Clause in Contracts

Payment of Loan Proceeds. All amounts to be made available by the Lenders under clause 4.4 (Notification of Drawdown Notice) shall be made available not later than 11:00 a.m. on the proposed Drawdown Date in Hong Kong Dollars in immediately available and freely transferable cleared funds by remittance to such account specified by the Agent under clause 27.1 (Payments to the Agent).