RE-DRAWING Sample Clauses
The Re-Drawing clause establishes the right or process for revising or updating certain documents, plans, or specifications within an agreement. Typically, this clause outlines the circumstances under which re-drawing may occur, such as when changes are required due to errors, regulatory updates, or client requests, and may specify who bears the associated costs or how approvals are managed. Its core practical function is to provide a structured mechanism for making necessary adjustments to key documents, thereby ensuring accuracy and adaptability throughout the course of a project or contractual relationship.
RE-DRAWING. Amounts repaid pursuant to clause 6.1 may be redrawn by the Trustee in accordance with the terms of this Agreement.
RE-DRAWING. 5.1 It is confirmed and agreed (including, without limitation, with reference to clause 4.9(c)(ii) of the Loan Agreement as in effect at the date of this letter agreement) that the amounts prepaid pursuant to this letter agreement may be re-drawn by the Borrower for the purposes described in paragraph 5.2 below subject to and upon the terms and conditions of the Loan Agreement and that such terms and conditions include delivery of the documents described in Part B of Schedule 3 or, as the case may be, Part C of Schedule 3 of the Loan Agreement in form and substance satisfactory to the Agent and its lawyers in respect of the applicable Approved Ship, Additional Approved Ship or Alternative Ship, as the case may be.
5.2 The purposes for which the amounts prepaid pursuant to this letter agreement may be re-drawn by the Borrower are in outline as follows (as more particularly set out in the amended and restated Loan Agreement to take effect pursuant to this letter agreement):
(a) to finance a portion of the remaining pre-delivery and delivery contract instalments of the Alternative Ships (ie ▇▇▇▇▇▇▇ ▇▇▇▇ no. S4005 and ▇▇▇▇▇▇ ▇▇▇▇ nos. ▇-▇▇▇, ▇-▇▇▇ and N-222);
(b) to finance all of the remaining pre-delivery and delivery contract instalments of Additional Approved Ship A (ie Jiangnan hull no. H1022A); and
(c) as to the balance available to be drawn (approximately $16 million) for such purpose as RBS may approve (as more particularly set out in the amended and restated Loan Agreement to take effect pursuant to this letter agreement).