Availability Period Примери клазула

Availability Period. (a) The Borrower may utilise each Loan Facility during its Availability Period. For the purposes of this Agreement, “Availability Period” means: (i) in relation to the Loan Facility 1, the period starting from and including the Effective Date to and including the day falling 24 Months from the Effective Date; and (ii) in relation to the Loan Facility 2, the period from and including the Effective Date to and including the day falling 48 Months from the Effective Date, and, in each case, any extension thereof which may have been agreed in accordance with paragraph (b) below. (b) The Availability Period may be extended, provided that an application for such extension is submitted by the Borrower to the Agent in writing thirty (30) days prior to the end of the Availability Period for the relevant Loan Facility and such application is approved by the Lenders (in their sole and absolute discretion). If an application for extension is not agreed, the Borrower and the Lenders (in their sole and absolute discretion) may agree to disburse each Lender’s Available Loan Facility Commitments at that time to a blocked account of TAŞYAPI İnşaat Taahhüt Sanayi Ve Ticaret A.Ş. held with each Lender or an Affiliate of a Lender from which amounts will be applied in payments to TAŞYAPI İnşaat Taahhüt Sanayi Ve Ticaret A.Ş. in accordance with the Project Documents.