Drawstop definition

Drawstop means (i) the Borrower fails to perform, observe or comply with any Offer Related Undertakings specified in Schedule 11 (other than (e), (h), (i) and (l)); or (ii) the occurrence of an Event of Default referred to in any of the following sections:
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Examples of Drawstop in a sentence

  • Without limiting the generality of Section 9.6, no Credit Party shall have any liability to the Borrower or any Affiliate thereof or to any other Credit Party solely arising from the issuance of or failure to issue any FFB Advance Request Approval Notice, Drawstop Notice, or any other notice contemplated by this Section 2.4.

  • A certificate of Baseball Cash Bidco confirming that no Baseball Drawstop Default has occurred and is continuing.

  • The Loan Servicer shall not have received a Drawstop Notice with respect to such Advance.

  • Following a Drawstop Event, no further Requests may be made until the Facility Agent notifies the Company in writing that it may submit a Request.

  • The issuance of a Drawstop Notice shall not preclude the Borrower from resubmitting an Advance Notice within the same or subsequent calendar quarter (notwithstanding Section 2.2.3(a) (Mechanics for Requesting Advances)) with respect to all or any portion of the same Advance.

  • For any requested Advance for which an Advance Request Approval Notice has been issued pursuant to this Section 2.4(a) and for which no Drawstop Notice has been issued pursuant to Section 2.4(b), FFB shall fund such Advance on the Requested Advance Date in accordance with the Note Purchase Agreement and the relevant Note.

  • Subject to Section 2.3.3 (No Liability), DOE shall provide a copy of each Drawstop Notice and Drawstop Withdrawal Notice to the Borrower upon the issuance thereof, provided that the failure to deliver a copy of any such notice to the Borrower shall have no effect on its validity.

  • If any Drawstop Notice has been issued, funds delivered to the Administrative Agent in its capacity as the Collateral Agent pursuant to Section 2.4.1(b) shall not be applied and shall be returned promptly to the respective Credit Parties.

  • DOE shall make commercially reasonable efforts to provide a copy of each Drawstop Notice and Drawstop Withdrawal Notice to the Borrower upon the issuance thereof, provided that the failure to deliver a copy of any such notice to the Borrower shall have no effect on its validity.

  • For any requested Advance for which a FFB Advance Request Approval Notice has been issued pursuant to this Section 2.4.1 and for which no Drawstop Notice has been issued pursuant to Section 2.4.3, in accordance with the terms of the FFB Note Purchase Agreement FFB has agreed to fund such Advance on the Requested Advance Date in accordance with the DOE Credit Facility Documents.