Common use of Date of Advance Clause in Contracts

Date of Advance. (s) of the Loan 3.2.1 Subject to Clauses 3.1.2 and 3.2.2, (and subject to the satisfaction of the relevant conditions set forth in Clauses 3.4 and 3.5), each Tranche shall be advanced and made available to the Borrower within five (5) Business Days from receipt by the Lender of an executed Drawdown Notice (or such shorter period as the Lender may agree in writing). Each Drawdown Notice must be received by the Lender at least five (5) Business Days prior to the end of the relevant Expiry Date. Each Drawdown Notice shall constitute a separate and independent obligation of the Borrower incorporating the terms of this Loan Agreement. Once a Drawdown Notice has been delivered to the Lender, it is irrevocable. Each Tranche requested to be advanced pursuant to a Drawdown Notice shall be in an amount equal to or greater than the Minimum Drawdown Amount. If the Drawdown Date is the first day of a calendar month and such day is not a Business Day, the Lender shall only be obliged to advance the Tranche to the Borrower on the first Business Day of that month. 3.2.2 if the Drawdown Date falls on a day which is not a Business Day, the Lender shall only be obligated to pay the Drawdown Amount to the Borrower on the next Business Day in that calendar month.

Date of Advance. (s) of the Loan 3.2.1 Subject to Clauses 3.1.2 and 3.2.2, (and subject to the satisfaction of the relevant conditions set forth in Clauses 3.4 and 3.5), each Tranche (other than in respect of Loan Amount 1 which shall be advanced and made available provided the an executed Drawdown Notice is provided to the Lender prior to 30th August 2019) shall be advanced and made available to the Borrower within five thirty (530) Business Days days from receipt by the Lender of an executed Drawdown Notice (or such shorter period as the Lender may agree in writing). Each Drawdown Notice must be received by the Lender at least five thirty (530) Business Days days prior to the end of the relevant Expiry Date). Each Drawdown Notice shall constitute a separate and independent obligation of the Borrower incorporating the terms of this Loan Agreement. No more than one Drawdown Notice may be served in respect of each Tranche. Once a Drawdown Notice has been delivered to the Lender, it is irrevocable. Each Tranche requested to be advanced pursuant to a Drawdown Notice shall be in an amount equal to or greater than the Minimum Drawdown Amount. If the Drawdown Date is the first day of a calendar month and such day is not a Business Day, the Lender shall only be obliged to advance the Tranche to the Borrower on the first Business Day of that month. 3.2.2 if If the Drawdown Date falls on a day which is not a Business Day, the Lender shall only be obligated to pay the Drawdown Amount to the Borrower on the next Business Day in that calendar month.