Utilisation Loans Clause Samples

The 'Utilisation - Loans' clause defines the procedures and conditions under which a borrower can draw down funds from a loan facility. It typically outlines the steps required to request a loan, such as submitting a utilisation request, and specifies any prerequisites that must be met before funds are disbursed, like providing certain documents or meeting financial covenants. This clause ensures that both the lender and borrower have a clear, agreed-upon process for accessing loan funds, thereby reducing misunderstandings and managing the risk of improper or unauthorized drawdowns.
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Utilisation Loans. 5.1 Delivery of a Utilisation Request The Borrower may utilise Facility A, Facility B, Facility C or Facility D by way of a Loan by delivery to the Agent of: (a) an original duly completed Utilisation Request not later than the Specified Time (or such later time as the Agent (acting on the instructions of all Lenders participating in the relevant Loan) may agree); or (i) a scanned copy of a duly completed Utilisation Request by email and followed by (ii) the original duly completed Utilisation Request (or a fax copy of the duly completed Utilisation Request), in each case, not later than the respective Specified Times (or such later time as the Agent (acting on the instructions of all Lenders participating in the relevant Loan) may agree).
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Utilisation Loans. 5.1 Delivery of a Utilisation Request The Borrower may utilise Facility A, Facility B or Facility C by way of a Loan by delivery to the Agent of: (a) an original duly completed Utilisation Request not later than the Specified Time (or such later time as the Agent (acting on the instructions of all Lenders participating in the relevant Loan) may agree); or (i) a scanned copy of a duly completed Utilisation Request by email and followed by (ii) the original duly completed Utilisation Request (or a fax copy of the duly completed Utilisation Request), in each case, not later than the respective Specified Times (or such later time as the Agent (acting on the instructions of all Lenders participating in the relevant Loan) may agree). 5.2 Completion of a Utilisation Request (a) Each Utilisation Request for a Loan is irrevocable and will not be regarded as having been duly completed unless: (i) it specifies that it is for a Loan; (ii) it identifies the Facility to be utilised; (iii) it identifies the purpose of the Loan; (iv) the proposed Utilisation Date is a Business Day within the Availability Period applicable to that Facility; (v) the currency and amount of the Loan comply with Clause 5.3 (Currency and amount); (vi) the proposed Interest Period complies with Clause 10 (Interest Periods); and (vii) it specifies the manner in which the proceeds of the Loan are to be credited. (b) Only one Loan may be requested in each Utilisation Request.
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Utilisation Loans. 5.1 Delivery of a Utilisation Request (a) The Parent may utilise the Term Facility by delivery to the Lender of a duly completed Utilisation Request; (b) A Borrower (or the Ultimate Parent on its behalf) may utilise the Revolving Facility by delivery to the Lender of a Borrowing Base Certificate at least 7 Business Days prior to the proposed Utilisation Date and a duly completed Utilisation Request.
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Utilisation Loans. Utilisation - Bills................................................... 20 8. Bills.................................................................
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Utilisation Loans. 5.1 Delivery of a Utilisation Request (a) Subject to paragraphs (b) and (c) below, a Borrower may utilise a Facility by delivery to the Agent of a duly completed Utilisation Request not later than the Specified Time or such other time as the Agent may agree (acting on the instructions of the Majority Lenders). (b) The Obligors’ Agent may request that one or more Facility A Loans be borrowed to replace all or part of the Bank Guarantee (whether or not the proposed Utilisation Date for such Facility A Loan falls during the Availability Period) provided that: (A) a separate award has been passed in accordance with Chapter 22 Section 15, paragraph 2 of the Swedish Companies Act in respect of the redemption amount in connection with the Squeeze-Out that has been accepted by Bidco and such award has gained legal force; (B) the proceeds of such Facility A Loan or Facility A Loans are applied against all of the amounts referred to in paragraph (i)(A) above; and (C) no Facility A Loan shall be borrowed unless the Issuing Bank is satisfied (acting reasonably) that upon such Facility A Loan being borrowed, the maximum amount payable under the Bank Guarantee will be reduced by an amount equal to the amount of that Facility A Loan; or (A) a final arbitral award or judgment on the redemption amount and interest payable by Bidco to the minority shareholders in Target has been passed in the Squeeze-Out and such arbitral award or judgment has gained legal force; (B) the proceeds of such Facility A Loan are applied against all of the amounts and interest referred to in paragraph (ii)(A) above; and (C) no Facility A Loan shall be borrowed unless the Issuing Bank is satisfied (acting reasonably) that upon such Facility A Loan being borrowed, it has no further liability under the Bank Guarantee. For the avoidance of doubt, the conditions for utilisation as set out in particular in Clause 5.2 (Completion of a Utilisation Request - Loans) shall apply to this paragraph (b) (but the conditions set out in Clause 4.2 (Further conditions precedent) shall not apply). (c) In the event a Borrower is obliged to make a payment to the Issuing Bank under paragraph (c) of Clause 7.2 (Claims under the Bank Guarantee) in respect of a claim under the Bank Guarantee to be made or purported to be made pursuant to Clause 7.2 (Claims under the Bank Guarantee) (including where that Issuing Bank becomes obliged to make a cash deposit in accordance with the terms of the Bank Guarantee) that Borrower s...
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Utilisation Loans. 5.1 Delivery of a Utilisation Request
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Utilisation Loans 
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Related to Utilisation Loans

  • Utilisation 4.1 Conditions to Utilisation Save as otherwise provided in this Agreement, an Advance will be made by the Lenders to a Borrower or a Documentary Credit will be issued by an L/C Bank at a Borrower’s (other than the US Borrower’s) request if: (a) in the case of an Advance, the Facility Agent has received from such Borrower a duly completed Utilisation Request in the relevant form, and in the case of a Documentary Credit, both the Facility Agent and the L/C Bank have received from a Borrower (other than the US Borrower) a duly completed Utilisation Request in the relevant form, in each case, no earlier than the day which is 10 Business Days and no later than 2:00 p.m. on the day which is 3 Business Days (or in the case of any Documentary Credit which is not or will not be in the form of Schedule 12 (Form of Documentary Credit), no later than 2:00 p.m. on the day which is 5 Business Days) prior to the proposed Utilisation Date for such Advance or Documentary Credit, receipt of which shall oblige such Borrower to utilise the amount requested on the Utilisation Date stated therein upon the terms and subject to the conditions contained in this Agreement; (b) the proposed Utilisation Date is a Business Day for the proposed currency of the Advance or Documentary Credit, as the case may be, which is or precedes the relevant Termination Date; (c) in the case of a Utilisation by way of Term Facility Advance, such Utilisation would result in the maximum principal amount of the Term Facility Advance being utilised, or in the case of a Utilisation by way of a Revolving Facility Advance, such Utilisation occurs on or after the maximum principal amount of the Term Facility being utilised and, the proposed Sterling Amount of such Revolving Facility Advance is (i) equal to the amount of the Available Revolving Facility Commitment at such time, or (ii) less than such amount but equal to a minimum of £5 million, or an integral multiple of £1 million; (d) in the case of a Utilisation by way of Documentary Credit, the proposed Sterling Amount of such Documentary Credit is (i) equal to the amount of the Available Revolving Facility or (ii) less than such amount but equal to or more than £1 million or such lesser amount as the L/C Bank may agree; (e) in the case of a Utilisation by way of a Revolving Facility Advance, immediately after the making of such Advance there will be no more than 10 Revolving Facility Advances then outstanding; (f) in the case of a Utilisation by way of a Documentary Credit, the proposed Term of the Documentary Credit ends on or before the Termination Date in respect of the Revolving Facility; (g) in the case of a Utilisation by way of a Revolving Facility Advance, the proposed Term of such Advance is a period of 1, 2, 3 or 6 months or such other period of up to 12 months as all the Lenders having a Revolving Facility Commitment may agree prior to submission of the relevant Utilisation Request, and ends on or before the Final Maturity Date in respect of the Revolving Facility provided that, save as the Bookrunners may otherwise agree, prior to the Syndication Date, the Term of each Revolving Facility Advance shall be 1 month (or, if less, such duration as is necessary to ensure that such Term ends on the Syndication Date); (h) in the case of a Utilisation by way of an Advance (other than a Rollover Advance), the interest rate applicable to such Advance’s first Interest Period or Term (as the case may be) will not have to be determined under Clause 15 (Market Disruption and Alternative Interest Rates); (i) in the case of a Utilisation by way of a Documentary Credit which is not substantially in the form set out in Schedule 12 (Form of Documentary Credit), the L/C Bank shall have approved the terms of such Documentary Credit (acting reasonably); and (j) in the case of any Utilisation, on the date of the Utilisation Request, the date of any Conversion Notice and the proposed Utilisation Date: (i) in the case of a Rollover Advance or a Documentary Credit which is being renewed pursuant to Clause 5.2 (Renewal of Documentary Credits), the Facility Agent shall not have received instructions from a Revolving Facility Instructing Group requiring the Facility Agent to refuse such rollover or renewal of a Documentary Credit by reason of an Event of Default having occurred which is continuing or would result from the proposed Rollover Advance or the renewal of that Documentary Credit; or (ii) in the case of any Utilisation other than that referred to in sub-paragraph (i): (A) in the case of the first Utilisation of any Facility, subject to the provisions of Clause 3.5 (Vanilla Certain Funds Period), all representations set out in Clause 21 (Representations and Warranties) made by each of the persons identified as making those representations are true in all material respects by reference to the circumstances then existing and no Default is continuing or would result from the proposed Utilisation; (B) in the case of any Utilisation under the A1 Facility and B1 Facility, subject to the provisions of Clause 3.6 (Baseball Certain Funds Period), the Repeating Representations made by the persons identified as making those representations are true in all material respects by reference to the circumstances then existing and no Default is continuing or would result from the proposed Utilisation; (C) in the case of any Utilisation under the B2 Facility, B3 Facility, B4 Facility, B5 Facility and B6 Facility, the Repeating Representations made by the persons identified as making those representations are true in all material respects by reference to the circumstances then existing and no Default is continuing or would result from the proposed Utilisation; or (D) in the case of any Utilisation under the C Facility, the Repeating Representations made by the persons identified as making those representations are true in all material respects by reference to the circumstances then existing and no Default is continuing or would result from the proposed Utilisation.

  • Disbursement of Loans Not later than 1:00 p.m. (Chicago time) on the date of any requested advance of a new Borrowing, subject to Section 7 hereof, each Lender shall make available its Loan comprising part of such Borrowing in funds immediately available at the principal office of the Administrative Agent in Chicago, Illinois (or at such other location as the Administrative Agent shall designate). The Administrative Agent shall make the proceeds of each new Borrowing available to the Borrower on the date of such Borrowing as instructed by the Borrower.

  • LOANS, ADVANCES, INVESTMENTS Make any loans or advances to or investments in any person or entity, except any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof.

  • Borrowings to Repay Swing Loans PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.