Common use of Draw Down Clause in Contracts

Draw Down. Subject to the Agreement, Client may draw down against a Window Forward Contract during the Delivery Window provided that Corpay has received Settlement in immediately available funds corresponding to the amount of the draw down. Notwithstanding any draw down, Client is required to provide full Settlement, or any remaining balance, to Corpay in good, cleared funds in connection with a Forward Contract on or before the end of the Value Date. Corpay may, in its discretion, apply to any draw down any rate of exchange that it deems reasonably appropriate.