Completion of Requests Clause Samples

Completion of Requests. A Request will not be regarded as having been duly completed unless: (a) it identifies the Borrower; (b) the Utilisation Date is a Business Day falling within the Availability Period; and (c) the proposed currency, amount and Term comply with this Agreement. Only one Loan may be requested in a Request.

Completion of Requests. A Request will not be regarded as having been duly completed unless: (a) the Utilisation Date is a Business Day falling within the relevant Availability Period for that Loan and: (i) for an Instalment Loan (other than the Delivery Loan), is the date on which the corresponding Instalment is payable under the terms of the Shipbuilding Contract; (ii) for the Delivery Loan, is the Final Completion Date; or (iii) for an Incidental Vessel Costs Loan: (A) for the first Incidental Vessel Costs Loan, is a date on or after the date of this Agreement; and (B) for any other Incidental Vessel Costs Loan, is a date falling at least three (3) months after the previous Incidental Vessel Costs Loan Utilisation Date; (b) the requested Incidental Costs Loan is in an amount not exceeding the aggregate amount of: (i) the Incidental Loan Costs incurred in the period up to and including the Utilisation Date of the Incidental Costs Loan; (ii) the aggregate amount of the Approved Incidental Vessel Costs payable in the period up to and including the Utilisation Date of the Incidental Costs Loan and supported by invoices or receipts; and (iii) the aggregate estimated amount of Approved Incidental Vessel Costs which will become payable in the period up to and including the Utilisation Date of the Instalment Loan 1, supported by evidence satisfactory to the Facility Agent (acting in its sole discretion); (c) the requested Loan (other than the requested Incidental Costs Loan) is in an amount not exceeding: (i) if a Drilling Charter and a Sister Drilling Charter has been entered into ten (10) Business Days prior to the relevant Utilisation Date and: (A) the Drilling Charter is a Five Year Drilling Charter and the Sister Drilling Charter is a Sister Five Year Drilling Charter; or (B) the Drilling Charter is a Five Year Drilling Charter and the Sister Drilling Charter is a Sister Three Year Drilling Charter; or (C) the Drilling Charter is a Three Year Drilling Charter and the Sister Drilling Charter is a Sister Five Year Drilling Charter, a percentage of the Scheduled Instalment Amount or, as applicable the Approved Incidental Vessel Costs (in each case determined by the Facility Agent) to be derived from an iterative process in a manner that the expected LTC Ratio at the Utilisation Date following the advance of the Loan equals zero point seven (0.7); or (ii) if the conditions in Clause 4.2(c)(i) have not been met, a percentage of the Scheduled Instalment Amount or, as applicable the App...

Completion of Requests. A Request for a Loan will not be regarded as having been duly completed unless: (a) it identifies the Borrower; (b) the proposed Utilisation Date is a Business Day falling within the Availability Period; (c) the amount of the Loan requested is: (i) a minimum of US$1,000,000 or its equivalent in accordance with Clause 6 (Optional Currencies) and an integral multiple of 1,000,000 units of the requested currency; (ii) the maximum undrawn amount available under the Facility on the proposed Utilisation Date; or (iii) such other amount as the Facility Agent may agree; and (d) the proposed currency and Term comply with this Agreement. Only one Loan may be requested in a Request.

Completion of Requests. A Request will not be regarded as having been duly completed unless: (a) the Utilisation Date is a Business Day falling within the Availability Period; (b) the amount of the Loan requested is: (i) a minimum of €5,000,000 and an integral multiple of €250,000 or an amount which complies with Clause 6 (Optional Currencies); (ii) the maximum undrawn amount available under the Facility on the proposed Utilisation Date; or (iii) such other amount as the Facility Agent may agree; and (c) the proposed currency and Term comply with this Agreement. Only one Loan may be requested in a Request.

Completion of Requests for Swingline Advances A Request for Swingline Advances will not be regarded having been duly completed unless: (a) the Utilisation Date is: (i) in the case of Swingline Advances in U.S. Dollars, a New York Business Day; or (ii) in the case of Swingline Advances in Sterling or euros, a Business Day, in each case falling before the Tranche B Final Maturity Date; (b) it is specified that the Swingline Advances are to be made in U.S. Dollars, Sterling or euros under the Swingline Facility; (c) the Requested Amount is a minimum Original Euro Amount of euro 10,000,000 or such other amount as the Agent or, as the case may be, US Swingline Agent and the relevant Borrower may agree which, if borrowed, would not cause the Original Euro Amount of all Utilisations under Tranche B to exceed the Tranche B Total Commitments; (d) only one Term is specified, which: (i) does not overrun the Tranche B Final Maturity Date; and (ii) is a period not exceeding 7 days.

Completion of Requests. A Request for a Loan will not be regarded as having been duly completed unless: (a) the Utilization Date is a Business Day falling within the applicable Availability Period; and (b) the amount of the Loan requested is: (i) a minimum of US$25,000 and an integral multiple of US$25,000; or (ii) the maximum undrawn amount available under this Agreement for Loans under the Facility on the proposed Utilization Date. Only one Loan may be requested in a Request.

Completion of Requests. A Request for a Letter of Credit will not be regarded as being duly completed unless: (a) it identifies the Borrower; (b) it specifies that it is for Letters of Credit; (c) the Utilisation Date is a Business Day falling within the Availability Period; (d) the amount of the Letter of Credit requested is: (i) the maximum undrawn amount available under the Tranche D Facility on the proposed Utilisation Date; or (ii) such other amount as the Issuing Bank may agree; (e) in the case of a Letter of Credit which is a standby letter of credit: (i) the form of Letter of Credit (in substantially the form of Schedule 9); (ii) all relevant supporting documents are attached; and (iii) the proposed Letter of Credit is to be issued in favour of banks with letters of credit already issued as at the date of the first Request for a Loan; (f) in the case of a Letter of Credit which is not a standby letter of credit, the relevant application form (in substantially the form of applications generally accepted by the Issuing Bank for general letter of credit business from time to time) and all relevant supporting documents are attached; (g) the expiry date (including the last day of the usance period) of the Letter of Credit falls on or before the Final Maturity Date; (h) the expiry date of the Letter of Credit does not exceed: (i) in respect of Letters of Credit requested for the purpose of equipment purchases, 540 days from the Utilisation Date; and (ii) in respect of Letters of Credit requested for the purpose of any other general purpose, 150 days from the Utilisation Date; and (i) the delivery instructions for the Letter of Credit are specified. Only one Letter of Credit may be requested in a Request, and only three Requests for Letters of Credit may be delivered on any day.

Completion of Requests. 5.2.1 A Request for a Loan will not be regarded as having been duly completed unless: (a) the Drawdown Date is a Business Day falling within the Availability Period; (b) the currency and amount of the Loan comply with Clause 5.3 (Currency and amount); and (c) the proposed Term complies with this Agreement. 5.2.2 Only one Loan may be requested in a Request.

Completion of Requests. A Request for a Loan will not be regarded as having been duly completed unless: (a) it identifies the Borrower; (b) it identifies the Facility under which the Loan is to be made; (c) the Utilisation Date is a Business Day falling within the Availability Period for the Facility under which the Loan is to be made; (d) the amount of the Loan requested is: (i) a minimum of HK$50,000,000 and an integral multiple of HK$10,000,000; or (ii) any lesser amount which represents the maximum undrawn amount available under the relevant Facility on the proposed Utilisation Date; and (e) the Term complies with this Agreement.