Preconditions to Drawdowns Sample Clauses
Preconditions to Drawdowns. CBH Grain is only required to provide a Drawdown in respect of Nominations of Grain under the Commodity Finance Option if:
a. the Supplier has requested a Drawdown not less than 5 Business Days before the Business Day on which the Supplier wishes the Drawdown to be paid;
b. the Supplier has registered a valid email address with LoadNet® in accordance with CBH Grain's security procedures as specified from time to time;
c. at the time of the Supplier's request for a Drawdown, the security details and password provided by the Supplier are the same as those previously recorded by CBH Grain;
d. the Drawdown requested is equal to or greater than $2,000 and is a multiple of $1,000 or such other amount as is agreed by CBH Grain in its discretion;
e. the Drawdown is the only Drawdown paid in that week;
f. the total amount of all the Supplier's outstanding Drawdowns will not exceed the Total Credit Limit immediately after the Drawdown provided;
g. the Supplier's request is made before 1 February in the year following that Season or such later date as CBH Grain may determine in its discretion preceding the date of Pool Finalisation; and
h. the Supplier is not in default under the Contract.
Preconditions to Drawdowns. Unless waived in writing by CBH Grain (in its absolute discretion), CBH Grain is only required to provide a Drawdown if:
a. the Supplier has requested a Drawdown not less than 5 Business Days before the Business Day on which the Supplier wishes the Drawdown to be paid;
b. the Supplier has registered a valid email address with LoadNet® in accordance with CBH Grain's security procedures as specified from time to time;
c. the Drawdown requested is equal to or greater than $2,000 and is a multiple of $1,000 or such other amount as is agreed by CBH Grain in its absolute discretion;
d. the Drawdown is the only Drawdown paid in that week;
e. the total amount of all Drawdowns provided to the Supplier will not exceed the Pre-Payment Amount immediately after the Drawdown is provided;
f. the Supplier's request is made before the Nomination Date;
g. the Supplier has provided to CBH Grain in writing in sufficient detail (to the satisfaction of CBH Grain) the:
(1) means by which the Drawdown will be used to enable the Supplier to produce crops (to produce the Committed Tonnes);
(2) proposed or actual timing for the planting of those crops (which may have already occurred), which must be no later than 6 months after the date on which the Contract is made; and
(3) projected and actual hectares planted, or to be planted, and the yields expected from the planting of the crops at the time the Drawdown request is made;
h. the Supplier has provided CBH Grain with original or certified copies of such consent deeds, access deeds, priority deeds or deeds of covenant (or any combination of them) with owners, mortgagees or other secured parties in respect of land on which the crops which form part of the Secured Property are or will be growing, as are required by CBH Grain (in form and substance satisfactory to CBH Grain);
i. at CBH Grain’s request, the Supplier has provided CBH Grain with an accurate and true consolidated statement of assets and liabilities and a budget of the Supplier current as at a date no earlier than 30 days before the proposed Drawdown Date confirming that no change has taken place in the Supplier's financial circumstances since the date of the Application and CBH Grain is satisfied, in its absolute discretion, that no such change has occurred which is materially adverse to CBH Grain’s interests under the Contract;
j. no Material Adverse Event has occurred between the date of the Contract and the Drawdown Date;
k. the Supplier does not have any CBH Debt whic...