{"component": "clause", "props": {"groups": [{"samples": [{"hash": "fypzc1gmwWj", "uri": "/contracts/fypzc1gmwWj#utilisation", "label": "Factoring Agreement", "score": 31.3408622742, "published": true}, {"hash": "9X29rE1Dipd", "uri": "/contracts/9X29rE1Dipd#utilisation", "label": "Factoring Agreement (Constellium Holdco B.V.)", "score": 21.3620815277, "published": true}, {"hash": "jvPluCSb2wn", "uri": "/contracts/jvPluCSb2wn#utilisation", "label": "Factoring Agreement (Constellium Holdco B.V.)", "score": 21.1238880157, "published": true}], "snippet": "The Factor may draw from the Holdback Reserve the sums necessary to cover a debit position of the relevant Current Account. In such case, the contractual percentage and/or threshold shall be immediately reconstituted with amounts resulting from the Assignments of new Transferred Receivables or, failing such Assignments, with cash transferred by the relevant French Sellers upon request from the Factor, it being understood that the relevant French Seller shall make the requested cash payment within five (5) Business Days from such request. Upon termination of the relationship between the Parties or at any other time as agreed between the Factor and the relevant French Seller, the remaining balance (if it is positive) of the Holdback Reserve, as calculated on the basis of the amounts of all Transferred Receivables outstanding (including VAT) and the Specific Reserve fifteen (15) Business Days prior to the agreed restitution date, may be restituted to the relevant French Seller, in which case it shall be transferred to the credit of the relevant Current Account on the agreed restitution date.", "snippet_links": [{"key": "the-factor", "type": "definition", "offset": [0, 10]}, {"key": "holdback-reserve", "type": "definition", "offset": [29, 45]}, {"key": "the-relevant", "type": "clause", "offset": [94, 106]}, {"key": "current-account", "type": "definition", "offset": [107, 122]}, {"key": "the-assignments", "type": "clause", "offset": [245, 260]}, {"key": "transferred-receivables", "type": "definition", "offset": [268, 291]}, {"key": "upon-request", "type": "clause", "offset": [375, 387]}, {"key": "seller-shall", "type": "clause", "offset": [450, 462]}, {"key": "cash-payment", "type": "definition", "offset": [482, 494]}, {"key": "business-days", "type": "definition", "offset": [511, 524]}, {"key": "the-relationship-between-the-parties", "type": "clause", "offset": [564, 600]}, {"key": "other-time", "type": "clause", "offset": [611, 621]}, {"key": "as-agreed", "type": "clause", "offset": [622, 631]}, {"key": "remaining-balance", "type": "clause", "offset": [687, 704]}, {"key": "basis-of", "type": "clause", "offset": [771, 779]}, {"key": "specific-reserve", "type": "definition", "offset": [859, 875]}, {"key": "prior-to-the", "type": "clause", "offset": [903, 915]}, {"key": "restitution-date", "type": "definition", "offset": [923, 939]}, {"key": "the-credit", "type": "definition", "offset": [1031, 1041]}], "size": 3, "hash": "1687fb1662a7e207e8f59f08a08ba86b", "id": 6}, {"samples": [{"hash": "3N7JdpioLEJ", "uri": "/contracts/3N7JdpioLEJ#utilisation", "label": "Subordinated Unsecured Loan Agreement", "score": 36.0935211182, "published": true}, {"hash": "jxl32GxcWwl", "uri": "/contracts/jxl32GxcWwl#utilisation", "label": "Subordinated Unsecured Loan Agreement", "score": 35.2315750122, "published": true}, {"hash": "7puyUe4AncC", "uri": "/contracts/7puyUe4AncC#utilisation", "label": "Subordinated Unsecured Loan Agreement", "score": 26.151266098, "published": true}], "snippet": "The Loan shall be utilised in full on the Utilisation Date by payment from the Lender to an account nominated by the Borrower.", "snippet_links": [{"key": "loan-shall", "type": "definition", "offset": [4, 14]}, {"key": "utilisation-date", "type": "definition", "offset": [42, 58]}, {"key": "the-lender", "type": "clause", "offset": [75, 85]}, {"key": "by-the-borrower", "type": "clause", "offset": [110, 125]}], "size": 6, "hash": "df66ec3b5738e7849a0658c18e51a4cf", "id": 2}, {"samples": [{"hash": "bWdawwYbHpw", "uri": "/contracts/bWdawwYbHpw#utilisation", "label": "Facility Agreement (Black Titan Corp)", "score": 36.4168395996, "published": true}, {"hash": "9snNUGVXKJ3", "uri": "/contracts/9snNUGVXKJ3#utilisation", "label": "Facility Agreement (BSKE Ltd.)", "score": 36.1184120178, "published": true}], "snippet": "Subject to the compliance by the BORROWER with the conditions precedent contained in Clause 4 and where relevant, the conditions precedent stipulated in the Schedules hereof and/or in the LETTER OF OFFER and subject always to the BANK's availability of funds, the BORROWER may draw on and utilise the FACILITY in the manner as may be stipulated in this AGREEMENT and/or the LETTER OF OFFER subject always to the limits and sub-limits imposed by the BANK on the FACILITY.", "snippet_links": [{"key": "subject-to-the", "type": "definition", "offset": [0, 14]}, {"key": "compliance-by-the-borrower", "type": "clause", "offset": [15, 41]}, {"key": "the-conditions-precedent", "type": "clause", "offset": 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Inc.)", "score": 21.7830257416, "published": true}], "snippet": "4.1 The Borrower must provide NAVIOS with a Drawdown Notice at least one Business Day before stating the date on which NAVIOS is to make the Loan available to the Borrower (the Term Date) and to be credited to an account to be nominated by the Borrower:\n4.2 The Loan may be borrowed in up to three advances.\n4.3 The Borrower agrees to pay to Navios an arrangement fee of four hundred thousand Dollars ($400,000) on the date of the first advance under the Loan.\n4.4 The Loan is for general corporate purposes.", "snippet_links": [{"key": "the-borrower-must", "type": "clause", "offset": [4, 21]}, {"key": "drawdown-notice", "type": "definition", "offset": [44, 59]}, {"key": "business-day", "type": "definition", "offset": [73, 85]}, {"key": "the-loan", "type": "clause", "offset": [137, 145]}, {"key": "to-the-borrower", "type": "definition", "offset": [156, 171]}, {"key": "term-date", "type": "definition", "offset": [177, 186]}, {"key": "by-the-borrower", "type": "clause", "offset": [237, 252]}, {"key": "pay-to", "type": "definition", "offset": [335, 341]}, {"key": "arrangement-fee", "type": "clause", "offset": [352, 367]}, {"key": "date-of", "type": "clause", "offset": [419, 426]}, {"key": "first-advance", "type": "clause", "offset": [431, 444]}, {"key": "general-corporate-purposes", "type": "clause", "offset": [481, 507]}], "size": 5, "hash": "5b072c95a952e2272496da81af8b7565", "id": 3}, {"samples": [{"hash": "j7xPUgGu4K4", "uri": "/contracts/j7xPUgGu4K4#utilisation", "label": "Term Loan Facility Agreement (Harmony Gold Mining Co LTD)", "score": 22.8138256073, "published": true}, {"hash": "iutZuLdhydQ", "uri": "/contracts/iutZuLdhydQ#utilisation", "label": "Term Loan Facility Agreement (Harmony Gold Mining Co LTD)", "score": 22.8138256073, "published": true}, {"hash": "fXFmjQ59uL2", "uri": "/contracts/fXFmjQ59uL2#utilisation", "label": "Term Loan Facility Agreement (Harmony Gold Mining Co LTD)", "score": 22.8138256073, "published": true}], "snippet": "The Lender shall advance the Loan to the Borrower on the Closing Date by paying, in South African Rands, an amount equal to the Commitment, direct to the Project Company into an account separately advised by the Project Company to the Lender in writing. The Borrower agrees that the said payments shall discharge the obligation of the Lender to advance the Loan to the Borrower.", "snippet_links": [{"key": "the-lender", "type": "clause", "offset": [0, 10]}, {"key": "loan-to-the-borrower", "type": "clause", "offset": [29, 49]}, {"key": "the-closing-date", "type": "clause", "offset": [53, 69]}, {"key": "south-african-rands", "type": "definition", "offset": [84, 103]}, {"key": "equal-to", "type": "definition", "offset": [115, 123]}, {"key": "the-commitment", "type": "definition", "offset": [124, 138]}, {"key": "the-project-company", "type": "clause", "offset": [150, 169]}, {"key": "in-writing", "type": "definition", "offset": [242, 252]}, {"key": "the-borrower-agrees", "type": "clause", "offset": [254, 273]}, {"key": "obligation-of-the", "type": "clause", "offset": [317, 334]}, {"key": "to-advance", "type": "definition", "offset": [342, 352]}], "size": 4, "hash": "b38e390148929e18de119876d836939a", "id": 4}, {"samples": [{"hash": "hW7U0eGLznl", "uri": "/contracts/hW7U0eGLznl#utilisation", "label": "Senior Facilities Agreement (Virgin Media Investment Holdings LTD)", "score": 19.0, "published": true}, {"hash": "25Gs7orbQGo", "uri": "/contracts/25Gs7orbQGo#utilisation", "label": "Senior Facilities Agreement (Virgin Media Inc.)", "score": 19.0, "published": true}], "snippet": "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\u2019s (other than the US Borrower\u2019s) request if:\n(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;\n(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;\n(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 \u00a35 million, or an integral multiple of \u00a31 million;\n(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 \u00a31 million or such lesser amount as the L/C Bank may agree;\n(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;\n(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;\n(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);\n(h) in the case of a Utilisation by way of an Advance (other than a Rollover Advance), the interest rate applicable to such Advance\u2019s 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);\n(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\n(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:\n(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\n(ii) in the case of any Utilisation other than that referred to in sub-paragraph (i):\n(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;\n(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;\n(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\n(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.", "snippet_links": [{"key": "conditions-to-utilisation", "type": "clause", "offset": [4, 29]}, {"key": "save-as", "type": "clause", "offset": [30, 37]}, {"key": "in-this-agreement", "type": "clause", "offset": [57, 74]}, {"key": "by-the-lenders", "type": "clause", "offset": [100, 114]}, {"key": "issued-by", "type": "clause", "offset": [161, 170]}, {"key": "the-us-borrower", "type": "clause", "offset": [211, 226]}, {"key": "in-the-case-of-an", "type": "clause", "offset": [246, 263]}, {"key": "borrower-a", 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{"hash": "4HF2zqx5R9v", "uri": "/contracts/4HF2zqx5R9v#utilisation", "label": "Facility Agreement (MTS Inc)", "score": 19.0, "published": true}], "snippet": "UTILISATION", "snippet_links": [], "size": 3, "hash": "4039332e3d0dd48f6df4a389a6e32cc8", "id": 7}, {"samples": [{"hash": "bg87yCzM8bn", "uri": "/contracts/bg87yCzM8bn#utilisation", "label": "Deferred Payment Agreement (Open Joint Stock Co Vimpel Communications)", "score": 21.0, "published": true}, {"hash": "gs4JKZYZn77", "uri": "/contracts/gs4JKZYZn77#utilisation", "label": "Deferred Payment Agreement (Open Joint Stock Co Vimpel Communications)", "score": 19.0, "published": true}, {"hash": "bPTzZC5YHOK", "uri": "/contracts/bPTzZC5YHOK#utilisation", "label": "Deferred Payment Agreement (Open Joint Stock Co Vimpel Communications)", "score": 19.0, "published": true}], "snippet": "This DEFERRED PAYMENT FACILITY will be utilised subject in particular to the provisions of Articles 3.5 and 11 of the AGREEMENT and to the presentation by ALCATEL to KBI of the following documents for the relevant consignment of EQUIPMENT:", "snippet_links": [{"key": "facility-will", "type": "clause", "offset": [22, 35]}, {"key": "in-particular", "type": "clause", "offset": [56, 69]}, {"key": "the-provisions-of", "type": "clause", "offset": [73, 90]}, {"key": "the-agreement", "type": "clause", "offset": [114, 127]}, {"key": "the-relevant", "type": "clause", "offset": [201, 213]}], "size": 3, "hash": "6bba143f979f3350536ccdf0b188e442", "id": 8}, {"samples": [{"hash": "lvgC90Tsr5M", "uri": "/contracts/lvgC90Tsr5M#utilisation", "label": "Loan Agreement (American Realty Capital Global Trust, Inc.)", "score": 21.8555774689, "published": true}], "snippet": "5.1 The Borrower may request the Loan by delivering a notice to the Lender not later than 10 am two Business Days prior to the proposed Utilisation Date (or such other period as the Lender may agree).\n5.2 That notice is irrevocable and must specify:\n(a) the proposed Utilisation Date (being a Business Day within the Availability Period);\n(b) the amount of the Facility to be drawn (which must not exceed \u00a3760,000); and\n(c) the account to which the Loan should be credited.", "snippet_links": [{"key": "the-borrower", "type": "definition", "offset": [4, 16]}, {"key": "the-loan", "type": "clause", "offset": [29, 37]}, {"key": "notice-to-the-lender", "type": "clause", "offset": [54, 74]}, {"key": "proposed-utilisation-date", "type": "definition", "offset": [127, 152]}, {"key": "other-period", "type": "definition", "offset": [162, 174]}, {"key": "lender-may", "type": "definition", "offset": [182, 192]}, {"key": "availability-period", "type": "clause", "offset": [317, 336]}, {"key": "amount-of-the-facility", "type": "clause", "offset": [347, 369]}, {"key": "the-account", "type": "clause", "offset": [424, 435]}], "size": 3, "hash": "244819a01a1b99709df663eae68733c7", "id": 9}], "next_curs": "ClQSTmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjALEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhR1dGlsaXNhdGlvbiMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"children": [["delivery-of-a-utilisation-request", "Delivery of a Utilisation Request"], ["completion-of-a-utilisation-request", "Completion of a Utilisation Request"], ["currency-and-amount", "Currency and amount"], ["lenders-participation", "Lenders\u2019 participation"], ["cancellation-of-commitment", "Cancellation of Commitment"]], "title": "Utilisation", "size": 567, "parents": [["interpretation", "Interpretation"], ["miscellaneous", "Miscellaneous"], ["utilisation", "Utilisation"], ["jurisdiction", "JURISDICTION"], ["credit-suisse-ag", "CREDIT SUISSE AG"]], "id": "utilisation", "related": [["completion-of-a-utilisation-request", "Completion of a Utilisation Request", "Completion of a <strong>Utilisation</strong> Request"], ["costs-of-utilisation", "Costs of Utilisation", "Costs of <strong>Utilisation</strong>"], ["delivery-of-a-utilisation-request", "Delivery of a Utilisation Request", "Delivery of a <strong>Utilisation</strong> Request"], ["stabilisation", "Stabilisation", "Stabilisation"], ["conditions-of-utilisation", "Conditions of Utilisation", "Conditions of <strong>Utilisation</strong>"]], "related_snippets": [], "updated": "2026-04-18T06:00:06+00:00", "also_ask": ["What are the essential elements that must be included in a robust UTILISATION clause?", "How can the UTILISATION clause be strategically negotiated to favor the client\u2019s operational flexibility?", "What are the most common risks or pitfalls associated with poorly drafted UTILISATION clauses?", "How does the enforceability of UTILISATION clauses differ across key jurisdictions?", "What factors do courts typically consider when interpreting or enforcing a UTILISATION clause?"], "drafting_tip": "Specify permitted uses, set clear conditions, and outline restrictions to prevent misuse and ensure compliance with contractual intent.", "explanation": "The UTILISATION clause defines the terms and procedures under which a borrower can draw down funds or utilize credit facilities provided under an agreement. Typically, it outlines the conditions that must be met before funds can be accessed, such as submitting a utilization request, satisfying any preconditions, and specifying the amount and timing of each drawdown. This clause ensures that both parties have a clear understanding of how and when the borrower can access the agreed funds, thereby preventing misunderstandings and managing the lender\u2019s risk exposure."}, "json": true, "cursor": ""}}