Completion of a Utilisation Request Sample Clauses
The 'Completion of a Utilisation Request' clause defines the process by which a borrower formally requests the use of funds under a loan agreement. Typically, this involves the borrower submitting a specific form or notice to the lender, detailing the amount to be drawn and the proposed date of utilisation, and ensuring all required conditions precedent are satisfied. This clause ensures that both parties have a clear, documented procedure for disbursing loan funds, thereby reducing misunderstandings and providing a structured framework for accessing credit.
Completion of a Utilisation Request. (a) Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:
(i) the proposed Utilisation Date is a Business Day within the Availability Period;
(ii) the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount); and
(iii) the proposed Interest Period complies with Clause 10 (Interest Periods).
(b) Only one Loan may be requested in each Utilisation Request.
Completion of a Utilisation Request. (a) Each Utilisation Request for a Loan is irrevocable and will not be regarded as having been duly completed unless:
(i) it specifies that it is for a Loan;
(ii) it identifies the Facility to be utilised;
(iii) the proposed Utilisation Date is a Business Day within the Availability Period applicable to that Facility;
(iv) the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount);
(v) the proposed Interest Period complies with Clause 13 (Interest Periods); and
(vi) it specifies the account and bank (which must be in the principal financial centre of the country of the currency of the Utilisation or, in the case of euro, the principal financial centre of a Participating Member State in which banks are open for general business on that day or London) to which the proceeds of the Utilisation are to be credited.
(b) Only one Loan may be requested in each Utilisation Request.
Completion of a Utilisation Request. (a) Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:
(i) it identifies the Facility to be utilised;
(ii) the proposed Utilisation Date is a Business Day within the Availability Period applicable to that Facility;
(iii) the proposed Interest Period of the Loan complies with this Agreement;
(iv) the currency specified in a Utilisation Request must be in RMB or any other currency agreed by the Parties;
(v) the amount of the Utilisation complies with Clause 5.3 (Utilisation Amount);
(vi) in respect of a Loan that is required to be disbursed by way of the Consigned Disbursement, it specifies the wiring and transfer instructions with respect to the payee’s name, the payee’s account information, the payment amount and currency, payment purpose and any other information reasonably requested by the Facility Agent;
(vii) in the case of a Facility A Loan that is required to be disbursed by way of the Consigned Disbursement according to the paragraph (a) of clause 5.5 (Advance of Loans), the Utilisation Request is accompanied by certified copies of the following documents (the “Evidence of Facility A Utilisation”):
(A) Existing Inter-company Loan Agreements (Project SH1);
(B) Existing Bank Loan Agreement (Project SH1);
(C) repayment notice, pay-off statement, invoice or other proof of the Existing Intercompany Loans (Project SH1) and the Existing Bank Loan (Project SH1) pay-off amount and currency;
(D) purchase contracts or orders, invoices, bank account statements or other documentary proof evidencing the proceeds from the Existing Inter-company Loans (Project SH1) and the Existing Bank Loan (Project SH1) have been applied towards the Capital Expenditures and/or working capital of the Project SH1; and
(E) any other underlying transaction documents reasonably requested by the Facility Agent;
(viii) in the case of a Facility B Loan that is required to be disbursed by way of the Consigned Disbursement according to the paragraph (b) of Clause 5.5 (Advance of Loans), the Utilisation Request is accompanied by certified copies of the following documents (the “Evidence of Facility B Utilisation”):
(A) Existing Inter-company Loan Agreements (Project SH2);
(B) Existing Bank Loan Agreement (Project SH2);
(C) repayment notice, pay-off statement, invoice or other proof of the Existing Intercompany Loans (Project SH2) and the Existing Bank Loan (Project SH2) pay-off amount and currency;
(D) purchase contracts or orders, invoice...
Completion of a Utilisation Request. Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:
Completion of a Utilisation Request. (a) Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:
(i) the proposed Utilisation Date is a Business Day within the Availability Period;
(ii) the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount);
(iii) the proposed Interest Period complies with Clause 10 (Interest Periods); and
(iv) it specifies the account and bank (which must be in the principal financial centre of the country of the currency of the Utilisation or, in the case of euro, the principal financial centre of a Participating Member State in which banks are open for general business on that day or London) to which the proceeds of the Utilisation are to be credited.
(b) Only one Loan may be requested in each Utilisation Request.
Completion of a Utilisation Request. (a) Each Utilisation Request for a Revolving Facility Loan is irrevocable and will not be regarded as having been duly completed unless:
(i) the proposed Utilisation Date is a Business Day within the Availability Period applicable to the Revolving Facility;
(ii) the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount); and
(iii) the proposed Interest Period complies with Clause 12 (Interest Periods).
(b) Only one Utilisation may be requested in each Utilisation Request.
Completion of a Utilisation Request. (a) Each Utilisation Request delivered to the Facility Agent pursuant to Clause 5.1 (Delivery of a Utilisation Request) is irrevocable and will not be regarded as having been duly completed unless:
(i) the proposed Utilisation Date is a Business Day within the Availability Period;
(ii) the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount); and
(iii) the proposed Interest Period complies with Clause 10 (Interest Periods).
(b) Only one Advance may be requested in each Utilisation Request delivered to the Facility Agent pursuant to Clause 5.1 (Delivery of a Utilisation Request).
Completion of a Utilisation Request. (A) Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:
(i) the proposed Utilisation Date is a Business Day within the Availability Period;
(ii) the amount of the Utilisation complies with clause 6.4 (Amount); and
(iii) the proposed Interest Period complies with clause 12 (Interest Periods).
(B) Only one Loan may be requested in each Utilisation Request and a maximum of 3 Utilisation Requests may be requested in any one month.
(C) A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation 10 or more Loans would be outstanding.
Completion of a Utilisation Request. (a) Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:
(i) it identifies the Tranche and the Facility to be utilised;
(ii) the proposed Utilisation Date is a Business Day within the Availability Period applicable to that Facility;
(iii) the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount); and
(iv) the proposed Interest Period complies with Clause 9 (Interest Periods).
(b) Only one Loan may be requested in each Utilisation Request.
Completion of a Utilisation Request. 5.2.1 A Utilisation Request will not be regarded as having been duly completed unless:
(a) the proposed Utilisation Date is a Business Day within the Availability Period;
(b) the currency and amount of the Utilisation comply with Clause 5.3 below; and
(c) it specifies a bank account in South Africa to which the Borrower requires the proceeds of the Senior Facility H Loan to be credited.
5.2.2 Only one Senior Facility H Loan may be requested in a Utilisation Request.