Drawing Power definition

Drawing Power in connection with the Facilities, means the drawing power of the Borrower to make drawals from time to time under each Facility upto the amount of the respective Limits but not exceeding the value of the Security Interest provided to the Bank for such Facility, less the corresponding Margin.

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Drawing Power shall, for any Individual Facility (ies) mean the least of (i) Individual Facility limit for that Individual Facility, (ii) value of Security provided for that Individual Facility less margin or (iii) operative limit for that Individual Facility as decided by the Bank based on its assessment.

Drawing Power in connection with the Facilities, shall mean the ability of the Borrower to make Drawdown from time to time under each of the Facilities up to the amount of the respective Available Limits but not exceeding the value of the current assets, if any, provided as Security to the Bank for such Facilities less the corresponding Margin or such other amount as may be ascertained by the Bank from time to time at its sole discretion. “Due Date” shall mean the date(s) on which the Indebtedness or any part becomes due and payable in terms of this Agreement and/or the other Transaction Documents.

Examples of Drawing Power in a sentence

• The Bank may however, at its own discretion, allow drawings beyond the Drawing Power, including ad hoc / temporary facilities and/or Temporary Overdraft Facilities (“▇▇▇”), for such time as may be considered necessary and shall at any time without notice call upon the Borrower to repay such excess drawings.

• The Borrower agrees that the drawings in the Cash Credit Account or other accounts shall be allowed to the extent of Drawing Power unless otherwise agreed to by the Bank.

• Provided, however, the Bank may, at the specific request of the Borrower and at its sole and absolute discretion, allow drawals beyond such Drawing Power for such period as may be permitted by the Bank.

• In the event of any exceeding or overdrawing, the Borrower shall bring down the drawal to the sanctioned Limit or Drawing Power, whichever is lower, as the case may be, immediately and shall also be liable to pay Penal Interest on the overdue amount or on the entire outstanding, at the discretion of the Bank, prevailing on from the date of exceeding upto the date of bringing down.

• The Bank shall calculate the Drawing Power on the basis of a monthly statement to be submitted of book debts or stock or other assets as the case may be.

• The Borrower shall ensure at all times until the Final Settlement Date that the Outstanding Balance (at any point of time) is within its Drawing Power (whether by payment/repayment or providing additional security as may be acceptable to the Bank).

• Provided, however, the Bank may at the specific request of the Borrower and at its own discretion, allow drawals beyond such Drawing Power (provided the Drawing Power is less than the sanctioned Limits) for such period as may be permitted by the Bank.

• No Drawing Power will be calculated in respect of book debts over 60 days or such days as mentioned in the Sanction Letter or the Individual Sanction Letter (as the case may be).

• The Bank may however, at its own discretion, allow drawings beyond the Drawing Power, including ad hoc/ temporary facilities and/or Temporary Overdraft Facilities (“▇▇▇”), for such time as may be considered necessary and shall at any time without notice call upon the Borrower to repay such excess drawings.

• In the event, the Drawing Power is not sufficient for the purpose of drawing the Loan, the Borrower shall be required to create additional Collateral such that the Drawing Power is equal or more that the Facilities outstanding after the drawdown of the Loan.

More Definitions of Drawing Power

Drawing Power means the threshold limit(s) assessed by the Lender, in its sole discretion from time to time, which shall be within the overall sanction limit and shall determine the amount of drawdown that can be requested by the Borrower at any given time under the Facility.

Drawing Power means the threshold limit(s) assessed by the Lender, in its sole discretion from time to time which shall be within the overall sanctioned limit and shall determine the amount of

Drawing Power means the aggregate value arrived at by reducing the market value of each Security after applying the Security Margin in respect of such Security.

Drawing Power means the lesser of (i) Overall Facility Limit, and (ii) value of Primary Security provided, for the Facility less Margin as may be stipulated by the Bank from time to time.

Drawing Power in connection with the relevant Facility shall mean the ability of the Borrower to make drawals from time to time under such Facility up to the amount of the respective Limit but not exceeding the value of the current assets (as may be determined by the Bank, from time to time), if any, provided as Security to the Bank for such Facility less the corresponding Margin or such other amount as may be ascertained by the Bank from time to time at its sole discretion.

Drawing Power means the amount eligible for Loan after reduction of Security Margin on the Security Shares and the said margin may be fixed by the Lender at its sole discretion, depending upon the situation prevailing in the capital market from time to time. Changes done by the Lender in the Margin requirements shall come into immediate effect.