Common use of Redraw Clause in Contracts

Redraw. If the Loan is a Redraw Loan, the Borrower may throughout the Term, provided no Event of Default has occurred, Redraw all Funds in Advance no more than twice each calendar month. Each redraw shall be for a minimum amount prescribed by the Lender from time to time. Any Funds in Advance requested by the Borrower are not to be in amounts less than $1,000.00 or the number of requests exceed two each calendar month and will only be disbursed by the Lender into an account at the ▇▇▇▇▇▇ Building Society, owned by the Borrower.

Redraw. If the Loan is a Redraw Loan, the Borrower may throughout the Term, provided no Event of Default has occurred, Redraw all Funds in Advance no more than twice each calendar month. Each redraw shall be for a minimum amount prescribed by the Lender from time to time. Any Funds in Advance requested by the Borrower are not to be in amounts less than $1,000.00 or the number of requests exceed two each calendar month and will only be disbursed by the Lender into an account at the ▇▇▇▇▇▇ Building Society, owned by the BorrowerLender.

Redraw. If the Loan is a Redraw Loan, the Borrower may throughout the Term, provided no Event of Default has occurred, Redraw all Funds in Advance no more than twice each calendar month. Each redraw shall be for a minimum amount prescribed by the Lender us from time to time. Any Funds in Advance requested by the Borrower are not to be in amounts less than $1,000.00 or the number of requests exceed two each calendar month and will only be disbursed by the Lender us into an account at the ▇▇▇▇▇▇ Building SocietyNBS, owned by the Borrower.