Common use of Availability of the Facility Clause in Contracts

Availability of the Facility. Save as otherwise provided herein, an Advance will be made by the Bank to a Borrower if: (i) not more than ten nor less than five business days before the proposed date for the making of such Advance, the Bank has received from such Borrower a Notice of Drawdown therefor, receipt of which shall oblige such Borrower to borrow the amount therein requested on the date therein stated upon the terms and subject to the conditions contained herein; (ii) the proposed date for the making of such Advance is a business day which falls one or more months before the Original Repayment Date or, if the Facility has been extended pursuant to Clause 2, the relevant Extended Payment Date; (iii) the proposed date for the making of such Advance is not less than five business days after the date upon which the previous Advance (if any) was made hereunder; (iv) the proposed amount of such Advance is (a) an amount of not less than L.600,000 and integral multiple of L.300,000 and which is less than the amount of the Available Facility or (b) equal to the amount of the Available Facility; (v) the interest rate applicable to such Advance during its first Interest Period would not fail to be determined pursuant to Clause 9.l; and (vi) either: (a) no Event of Default or Potential Event of Default has occurred; and (b) the representations set out in Clause 16 are true on and as of the proposed date for the making of such Advance, or the Bank agrees (notwithstanding any matter mentioned at (a) or (b) above) to make such Advance.

Availability of the Facility. Save as otherwise provided herein, an 3.1 Drawdown Conditions An Advance will be made by the Bank Banks to a the Borrower if: (ia) not more than ten nor less than five prior to 10.00 a.m. (London time) on the third business days day before the proposed date for the making of such Advance, the Bank Agent has received from such the Borrower a Notice of Drawdown therefor, receipt of which shall oblige such the Borrower to borrow the amount therein requested on the date therein stated upon the terms and subject to the conditions contained herein; (iib) the proposed date for the making of such Advance is a business day which falls one is or more months before precedes the Original Repayment Date or, if the Facility has been extended pursuant to Clause 2, the relevant Extended Payment Termination Date; (iiic) the proposed date for the making of such Advance is not less than five business days after the date upon which the previous Advance (if any) was made hereunder; (ivd) the proposed amount of such Advance is (ai) an amount of not less than L.600,000 and or integral multiple of L.300,000 and NLG10,000,000 which is less than the amount of the Available Facility or (bii) equal to the amount of the Available Facility; (ve) the interest rate applicable to such Advance during its first Interest Period would not fail fall to be determined pursuant to Clause 9.l6.1 (Market Disruption); and (vi) either: (af) no Event of Default or Potential Event of Default has occurred; and (b) occurred and the representations set out in Clause 16 12 (Representations) are true on and as of the proposed date for the making of such Advance, or the Bank agrees (notwithstanding any matter mentioned at (a) or (b) above) to make such Advance.