Drawdown Conditions definition

Drawdown Conditions means the following conditions precedent for any Drawdown of a Letter of Credit under a Revolving Facility:
View Source
Drawdown Conditions means, with respect to each Drawdown, that (i) the Effective Time shall have occurred, (ii) Parent's Unrestricted Cash at the time the Drawdown Notice with respect to such Drawdown is delivered is less than $20,000,000, (iii) Parent's proposed use for the proceeds of such Drawdown, as set forth in such Drawdown Notice, is a Permitted Expenditure, and (iv) Parent shall not be in material breach of any of its material obligations to any WCAS Securityholder pursuant to the Series B Certificate of Designations or the Governance Agreement.
View Source
Drawdown Conditions means the following conditions precedent for any Drawdown of a Letter of Credit under a Revolving Facility: ​ ​ (A) the Agent, the Canadian Issuing Lender and/or the US Issuing Lender, as applicable, will have received a Drawdown Notice by the deadline and within the notice period required under Section 2.10(2) of the Credit Agreement; provided, that no certifications regarding the representations and warranties in the Credit Agreement, any Pending Event of Default or existing Event of Default, or the fulfillment of the conditions precedent in Section 3.02 the Credit Agreement shall be required in such Drawdown Notice; ​ (B) upon giving effect to the Drawdown and to any repayment to occur in connection therewith, the sum of the principal amount of the face amount of all Letters of Credit outstanding under the Revolving Facilities on the Drawdown Date shall not exceed the Letters of Credit Exposure Cap; (C) if, after giving effect to the Drawdown and to any repayment to occur in connection therewith, the face amount of Letters of Credit outstanding under the Revolving Facilities on the Drawdown Date would exceed the Letters of Credit Exposure Cap as at the date of such Drawdown (the amount of such excess, the “Excess Amount”) then the Borrowers will make a payment to the Agent as a repayment of the Advances, at least 1 Business Day before the requested Letter of Credit is scheduled to be issued, in an amount equal to the Excess Amount (the “Cash Paydown Amount”); ​ (D) the conditions for any requests for issuance of Letters of Credit contained in the Credit Agreement are satisfied (other than any conditions requiring the absence of a Pending Event of Default or Event of Default or the accuracy of representations and warranties in the Credit Agreement); provided, that the condition to provide a Drawdown Notice pursuant to Section 2.10(2) of the Credit Agreement shall be deemed satisfied upon delivery of a Drawdown Notice as described in clause (A) above; (E) each Letter of Credit requested to be issued, renewed or amended, as the case may be, shall be in form and substance reasonably satisfactory to the applicable Canadian Issuing Lender and the applicable US Issuing Lender, as applicable;
View Source

Examples of Drawdown Conditions in a sentence

  • Each Obligor acknowledges that the Banks have entered into the Intercreditor Agreement (including, without limitation, Clause 2.1 (Waiver of Drawdown Conditions) thereof and that they have been provided with a copy thereof.

  • The Drawdown Conditions shall only be considered to have been fulfilled or waived, as the case may be, when such notice is given.

  • The Borrower shall provide to the Lender and Alcoa a borrowing request in the form attached as Schedule E (a “Borrowing Request”), in which, among other things, the Borrower shall represent and warrant to the Lender that all of the Drawdown Conditions have been satisfied.

  • Subject to the Drawdown Conditions being satisfied, the Borrower may make Drawings up to the Maximum Amount.

  • In this Agreement unless the context otherwise requires: Drawdown Conditions means the conditions referred to in clause 5(a).

  • The Information Technology used by the Company has adequate functionality, capability and capacity for the present and (save in relation to the arrangements contemplated by this Agreement and the requirements of the Company in order to fulfil the Loan Drawdown Conditions) foreseeable future requirements of the business of the Company.

  • Plagiarism takes many forms: Using all or part of one's own work or someone else's work without marking that it is a quotation and/or without adequate acknowledgement of the source.

  • Each Bank will participate through its Facility Office in each Advance made pursuant to Clause 3.1 (Drawdown Conditions) in the proportion borne by its Available Commitment to the Available Facility in either case immediately prior to the making of that Advance.

  • In the event the Company desires to effect a Loan Drawdown, the Company shall notify the Investor not later than 30 days before the proposed Loan Drawdown Date of the amount and basis for the Loan Drawdown and the Loan Drawdown Date, and shall include a certificate of the Company’s chief executive officer or chief financial officer to the effect that the Company is in compliance with the Loan Drawdown Conditions.

  • Conditions Precedent to the First Drawdown Conditions Precedent to Each Drawdown after the First Drawdown Full Powers Power of Attorney (for Drawdown) Form of Irrevocable Notice of Drawdown Form of Legal Opinion Irrevocable Power of Attorney of ▇▇▇▇▇▇▇▇'s Process Agent Letter of Confirmation Form of Notice of Effectiveness of Loan Agreement 10.


More Definitions of Drawdown Conditions

Drawdown Conditions. Subject to the provisions of this Agreement, the Loan will be advanced in one lump sum, on the Advance Date, by the Lenders to the Borrower at its request if the following additional conditions are fulfilled:
View Source