Common use of Conditions to drawdown Clause in Contracts

Conditions to drawdown. Notwithstanding anything to the contrary expressed or implied in this Agreement, the Lender’s obligation to make the Shareholder Loan available to the Borrower is subject to the satisfaction of each of the following conditions: (A) All corporate and other proceedings in connection with the Shareholder Loan contemplated by this Agreement shall be in form and substance satisfactory to the Lender, and the Lender shall have received all such original or certified or other copies of such documents as it may reasonably request, including without limitation, a resolution of the board of directors of the Borrower approving their acceptance of the terms of this Agreement and authorising and directing the Borrower to duly execute and deliver this Agreement and any other related documents; (B) Not later than the second (2) Business Day before the proposed Drawdown Date in a drawdown notice, the Lender shall have received a drawdown notice for the Shareholder Loan duly signed and approved by the Borrower; (C) The representations and warranties of the Borrower contained herein shall be true on and as of the proposed Drawdown Date, except to the extent that such representations and warranties relate solely to an earlier date (in which case such representations and warranties shall be true and accurate on and as of such earlier date). The Borrower shall have performed or observed all covenants, agreements and conditions contained herein required to be performed or observed by the Borrower on or before the proposed Drawdown Date; and (D) No Event of Default shall have occurred and be continuing.

Conditions to drawdown. Notwithstanding anything to the contrary expressed or implied in this Agreement, the Lender’s obligation to make the Shareholder Loan available to the Borrower is subject to the satisfaction of each of the following conditions: (A) All corporate and other proceedings in connection with the Shareholder Loan contemplated by this Agreement shall be in form and substance satisfactory to the Lender, and the Lender shall have received all such original or certified or other copies of such documents as it may reasonably request, including without limitation, a resolution of the board of directors of the Borrower approving their acceptance of the terms of this Agreement and authorising and directing the Borrower to duly execute and deliver this Agreement and any other related documents; (B) Not later than the second (2) Business Day before On the proposed Drawdown Date in a drawdown notice, the Lender shall have received a drawdown notice for the Shareholder Loan duly signed and approved by the Borrower; (C) The representations and warranties of the Borrower contained herein shall be true on and as of the proposed Drawdown Date, except to the extent that such representations and warranties relate solely to an earlier date (in which case such representations and warranties shall be true and accurate on and as of such earlier date). The Borrower shall have performed or observed all covenants, agreements and conditions contained herein required to be performed or observed by the Borrower on or before the proposed Drawdown Date; and (D) No Event of Default shall have occurred and be continuing.