Common use of Payment completion Clause in Contracts

Payment completion. In application of the Co-Financing Agreement, once the Co-Financier has received a Withdrawal Application and the relevant supporting documents as described in Clause 3.2 (a) (i) above, the Co-Financier, on behalf and in the name of the Lender, will: (i) assess all these supporting documents submitted, in compliance with the its applicable internal rules and procedures; and (ii) verify that the amount requested in the Drawdown Request complies with the co-financing requirements under the Co-Financing Agreement. If the result of the assessment and the verification mentioned above is satisfactory to the Co-Financier, the latter will notify the Lender in writing of such result through a disbursement notice (the “Disbursement Notice”). Subject to Clause 14.7 (Payment Systems Disruption ), if each of the conditions set out in Clause 2.4(b) (Conditions precedent) of this Agreement has been met, the Lender shall make the requested Drawdown available to the Borrower not later than the Drawdown Date. The Lender shall provide the Borrower with a letter of Drawdown confirmation substantially in the form set out in Schedule 5B (Form of confirmation of drawdown and rate).

Payment completion. In application of the Co-Financing Agreement, once the Co-Financier has received a Withdrawal Application and the relevant supporting documents as described in Clause 3.2 (a) (i) above, the Co-Financier, on behalf and in the name of the Lender, will: (i) assess all these supporting documents submitted, in compliance with the its applicable internal rules and procedures; and (ii) verify that the amount requested in the Drawdown Request complies with the co-financing requirements under the Co-Financing Agreement. If the result of the assessment and the verification mentioned above is satisfactory to the Co-Financier, the latter will notify the Lender in writing of such result through a disbursement notice (the “Disbursement Notice”). Subject to Clause 14.7 (Payment Systems Disruption Disruption), if each of the conditions set out in Clause 2.4(b) (Conditions precedent) of this Agreement has been met, the Lender shall make the requested Drawdown available to the Borrower not later than the Drawdown Date. The Lender shall provide the Borrower with a letter of Drawdown confirmation substantially in the form set out in Schedule 5B (Form of confirmation of drawdown and rate).