Utilisation Advice Sample Clauses
The Utilisation Advice clause sets out the requirements and procedures for a borrower to notify the lender when they wish to draw down funds under a loan agreement. Typically, this clause specifies the form and timing of the notice, the information that must be included (such as the amount to be drawn and the proposed date of utilisation), and any conditions that must be satisfied before funds are released. By clearly outlining the process for requesting and disbursing loan funds, the clause ensures both parties understand their obligations and helps prevent misunderstandings or delays in the funding process.
Utilisation Advice. (a) As soon as practicable after the Execution Date, the User must give a Utilisation Advice to each of DBCT Management and the Operator relating to the balance of the then current Financial Year (on a monthly basis) and the next 3 full Financial Years of the Term (on an annual basis).
(b) By no later than 15 February in each Financial Year, the User must give a Utilisation Advice to each of DBCT Management and the Operator relating to the next full Financial Year (on a monthly basis) and the 3 full Financial Years of the Term following that next Financial Year (on an annual basis).
(c) In the five Business Days preceding each 1 July, 1 October, 1 January and 1 April in each Financial Year, the User must update DBCT Management and the Operator with a revised Utilisation Advice relating to that Financial Year, together with projections of similar information for the 12 month period commencing on the date of that update.
(d) The User will be under no liability to DBCT Management if the actual number, types or tonnages of vessels or the amount of Coal is or are greater or fewer than the number, types, tonnages or amounts estimated in this clause 6.1 or estimated in any advice given pursuant to this clause 6.1.
Utilisation Advice. This Utilisation Advice template is provided to support the User's obligations under clause 6.1. The template is also available as an Excel spreadsheet. Mine Due Date 15 Feb 01 Jul 01 Oct 01 Jan 01 Apr Handimax Panamax – single parcel Panamax – multi-parcel Japmax Cape – single parcel & VLC Cape – multi parcel & VLC Unknown (Note 4) (Include comments on any special requirements, or exceptions from existing practice for the period) Units kt days kt Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY+1 FY+2 FY+3