Conditions of drawdown Clause Samples

Conditions of drawdown. The Agent shall not be under any obligation to advance a Drawing hereunder until all the documents and evidence referred to in the relevant part of Part I of Schedule 3 are in the possession of the Agent in form and substance satisfactory to the Agent.

Conditions of drawdown. 4.1. Initial conditions precedent The Borrower may not deliver the Drawdown Request unless the Agent has received all of the documents and other evidence listed in Schedule 2 (Conditions Precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Borrower and the Lenders promptly upon being so satisfied. 4.2. Further conditions precedent The Lenders will only be obliged to comply with Clause 5.4 (Lenders' participation) if on the date of the Drawdown Request and on the proposed Drawdown Date: (i) no Default is continuing or would result from the proposed Loan, as the case may be; and (ii) all representations to be made by each Obligor under the Finance Documents are true in all respects. 4.3. (Intentionally omitted)

Conditions of drawdown. The Agent shall not be under any obligation to advance the Term Loan Facility or a Drawing hereunder until all the documents and evidence referred to in the relevant part of Schedule 3 are in the possession of the Agent in form and substance satisfactory to the Lenders.

Conditions of drawdown. 4.1 Initial conditions precedent

Conditions of drawdown. The obligations of the Lenders to make the Facility available to Borrower are subject to the conditions that: (a) Agent shall have received, before the Notice of Drawdown is given or at such later time as Agent may agree, all of the documents and evidence specified in Schedule II in form and substance satisfactory to Agent and in such number of copies or counterparts as Agent may require. Copies required to be certified shall be certified in a manner satisfactory to Agent by a duly authorized officer of Borrower or other party concerned; (b) Agent shall have received not later than 12:00 noon (Hong Kong time) on the third (3rd) Banking Day before the date on which the Drawdown is proposed to be made (or such later time as Agent may agree) a duly completed and signed Notice of Drawdown; (c) no Event of Default or prospective Event of Default shall have occurred (or would occur as a result of the Drawdown being made) and all representations and warranties made by Borrower in or in connection with this Agreement or Guarantor in or in connection with the Guaranty shall be true and correct as at the date of the making of the Drawdown with reference to the facts and circumstances then subsisting; (d) since the date of this Agreement, there shall not have been any change, or any development involving a prospective change, in or affecting the business or financial condition of Borrower or Guarantor the effect of which, in the reasonable opinion of Agent, is material and adverse; (e) since the date of this Agreement, there shall not have been any change, or any development involving a prospective change, in or affecting the social, economic, foreign exchange or political conditions of Cayman Islands or Korea or the international money, capital or syndicated loan markets the effect of which, in the reasonable opinion of Agent, is material and adverse; and (f) not later than 11:00 a.m. (Hong Kong time) on the date on which the Drawdown is proposed to be made, Agent shall have received and found satisfactory such additional information, legal opinions and documents relating or relevant to this Agreement as Agent may reasonably require as a result of circumstances arising or becoming known to Agent since the date of this Agreement.

Conditions of drawdown. Subject to the terms and conditions herein contained and particularly Clause 3, the Borrower may during the Availability Period, request the Lenders, and the Lenders shall make the Advances in Dollars under the Facility if: (i) not later than 11.00 a.m. on the fifth Business Day before the proposed date of drawdown of such Advance or such shorter notice period acceptable to the Agent, the Agent has received from the Borrower a Notice of Drawing duly completed by the Borrower in accordance with Clause 4.1(b) below; (ii) all representations and warranties made by the Borrower in this Agreement (except to any extent waived in accordance with Clause 21.2) have been complied with and would be correct if repeated on the proposed date of drawdown of such Advance by reference to the circumstances then existing; and (iii) no Event of Default or Default has occurred or will occur as a result of making such Advance.

Conditions of drawdown. With respect to the first drawdown, the Borrower shall simultaneously provide a Details of Repayment Schedule (in the form of Schedule 4) to the Facility Agent, and the Facility Agent shall notify each Bank to make available the funds in accordance with its respective Participation Percentage and shall repay the Existing Indebtedness for the Borrower; if the Facility Agent has made the remittance to the creditor’s account designated by the Borrower pursuant to the instruction of the Borrower, the Borrower is deemed to receive such advance and shall not raise any objection, withdraw or cancel such instruction or render it ineffective in any way.

Conditions of drawdown. 4.1 Initial conditions precedent 4.2 Further conditions precedent 4.3 Waiver of conditions precedent

Conditions of drawdown. 4.1 Initial conditions precedent The Lenders will only be obliged to comply with Clause 6.4 (Lenders’ participation) in relation to any Request if the Agent has received all of the documents and other evidence listed in Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Borrower and the Lenders promptly upon being so satisfied.