First Drawdown definition

First Drawdown means drawdown of Tranche 1 of this Loan Facility;

First Drawdown means the making of the first Utilisation.

First Drawdown means the act of Borrower drawing down any of the Tranches Facility Amount pursuant to the Agreement for the first time; “First Drawdown Date” shall mean the day on which the Borrower first draws down any of the Tranches Facility Amount (which must be a banking Business Day), or the day deemed as the First Drawdown Date pursuant to the Agreement.

Examples of First Drawdown in a sentence

• Pre-Delivery Interest Periods shall commence, in the case of the first in respect of the first part of Portion 1 and Portion 2 to be drawn down, on the First Drawdown Date, in the case of the first in respect of the first part of Portion 3 to be drawn down on the first Pre-Delivery Interest Payment Date and, in the case of Pre-Delivery Interest Periods other than the first in respect of any Portion or part thereof, on the expiry of the preceding Pre-Delivery Interest Period.

• As part of the Loan Amendment: (i) Beedie converted C$6,000,000 of the First Drawdown; (ii) the Company drew down the remaining undrawn C$5,000,000 available from the Loan Facility and the conversion price of C$9.90 per share; (iii) the Loan Facility was increased by an aggregate C$20,000,000.

• Pre-Redelivery Interest Periods shall commence, in the case of the first in respect of the first part of Portion 1 and Portion 2 to be drawn down, on the First Drawdown Date, in the case of the first in respect of the first part of Portion 3 to be drawn down on the first Pre-Redelivery Interest Payment Date and, in the case of Pre-Redelivery Interest Periods other than the first in respect of any Portion or part thereof, on the expiry of the preceding Pre-Redelivery Interest Period.

• The Company also recorded a deferred income tax expense of $166,583 with an offset to equity reserves to unwind a portion of the deferred taxes that were recognized in August 2019 upon the First Drawdown.

• Following this conversion and draw down, under the Loan Facility and the Loan Amendment (together the “Amended Loan Facility”) the Company had C$1,000,000 outstanding with a conversion price of C$5.56 from the First Drawdown, C$5,000,000 outstanding with a conversion price of C$9.90 per share from the Second Drawdown, and had C$20,000,000 million available under the Amended Loan Facility with the conversion price to be determined on the date of any future advances.

More Definitions of First Drawdown

First Drawdown means the Loan(s) made on the First Drawdown Date pursuant to the Agreement.

First Drawdown a drawdown in the principal amount of HK$10,800,000 on 17 July 2018 pursuant to the Existing Facility Agreement, as approved by the Co-lenders

First Drawdown. Date of Drawdown: Currency: ------------------------- Amount: ------------------------- Drawdown Type: ------------------------- Libor Interest Period (in months): [IF APPLICABLE] Bankers' Acceptance Term (in days): [IF APPLICABLE] Bankers' Acceptance Maturity Date: [IF APPLICABLE] Conversion: ---------- Pursuant to subsection 2.11 ([DESIGNATE SUBSECTION]) to convert on [INSERT DATE OF CONVERSION] the amount of $ [SPECIFY CURRENCY] [SPECIFY AMOUNT] of a [SPECIFY TYPE] Drawdown into: ------------------------- Drawdown Type: ------------------------- Libor Interest Period (in months): [IF APPLICABLE] Bankers' Acceptance Term (in days): [IF APPLICABLE] Bankers' Acceptance Maturity Date: [IF APPLICABLE] 89 -2- Rollover: -------- Pursuant to Section 2.12, to rollover on [INSERT DATE OF ROLLOVER] the [LIBOR DRAWDOWN/BANKERS' ACCEPTANCE] as follows: Amount ------------------------- Currency (if Bankers' Acceptance): ------------------------- Libor Interest Period (in months): [IF APPLICABLE] Bankers' Acceptance Term (in days): [IF APPLICABLE] Bankers' Acceptance Maturity Date: [IF APPLICABLE] into a [LIBOR DRAWDOWN/BANKERS' ACCEPTANCE] as follows: Amount: ------------------------- Currency (if Bankers' Acceptance): ------------------------- Libor Interest Period (in months): [IF APPLICABLE] Bankers' Acceptance Term (in days): [IF APPLICABLE] Bankers' Acceptance Maturity Date: [IF APPLICABLE] [ADDITIONAL DRAWDOWNS IN SAME FORM AS REQUIRED] The undersigned hereby certifies, on behalf of the Borrower, that:

First Drawdown means the first Drawing made under this agreement. Governmental Authority includes any governmental, semi-governmental, municipal or statutory authority, instrumentality, organisation, body or delegate (including without limitation any town planning or development authority, public utility, environmental, building, health, safety or other body or authority) having jurisdiction, authority or power over or in respect of the Company or the Business carried on by the Company and its Subsidiaries as at the date of this agreement. GST has the meaning given to that term in the GST Act.

First Drawdown a drawdown in the principal amount of HK$8,000,000 on 26 July 2018 pursuant to the Existing Facility Agreement 1, as approved by the Co-lenders

First Drawdown a drawdown in the principal amount of HK$3,500,000 on 11 April 2019 pursuant to Loan Agreement B “Further Drawdown” an intended drawdown or intended drawdowns for an aggregate principal amount of up to HK$3,000,000 pursuant to Loan Agreement C, after the date of this announcement

First Drawdown means the first Drawdown to be made in terms of this Loan Agreement, in accordance with the provisions of Clause Three of this Loan Agreement.