Special Draw definition
Examples of Special Draw in a sentence
With respect to a Special Draw Request only, the amount requested therein shall be advanced upon satisfaction of the conditions set forth in Section 2.2.5 above.
In the event that no amounts are advanced by the Senior Lender in any month when the Borrower has submitted a Special Draw Request, the Agent shall independently determine whether the conditions precedent applicable to an interest only Advance have been satisfied.
Provided that no Event of Default shall then exist, the Agent shall make the disbursement requested in a Special Draw Request upon confirmation that the Senior Lender is simultaneously funding an advance under the Senior Loan (or is advancing interest to itself for such month if no draw request has been made by the Property Owner) and upon the Agent’s receipt of the Borrower’s portion of the applicable Monthly Debt Service Payment.
None of the Creditor Parties or other Persons identified on the face page, recital of parties or signature pages of this Agreement or in any definition related to this Agreement as a "Syndication Agent", "Documentation Agent" or the "Springdale Special Draw Agent" shall have any right, power, obligation, liability, responsibility or duty under this Agreement or any other Financing Document, other than, in the case of any Creditor Party, those applicable to all Creditor Parties.
Results of the Special Draw will be announced after the said draw.
Special Draw Prizes: Out of all the SRL members who have activated their Chances (and Bonus Chances, if any) for the Draws, ninety (90) SRL membership account numbers (“Special Draw Winners”) will be randomly drawn as winners of the Special Draw and the winning SRL member will walk away with S$60 Destination Dollars.