Common use of Draw Down Clause in Contracts

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