Common use of Drawdown Conditions Clause in Contracts

Drawdown Conditions. 3.3.1 The Borrower may only deliver a Drawdown Request to the Agent if: (a) the conditions precedent listed in Schedule 2 (Conditions for the First Drawdown) are met with respect to the first Advance and the Agent has notified the Borrower and the Lenders that it has received all of the documents and other evidence to be delivered in respect of such conditions precedent and each is in form and substance satisfactory to the Agent (and the Agent undertakes to promptly after receipt of such documents and evidence notify the Borrower that such conditions are met or inform the Borrower of the reasons they are not met); (b) the conditions precedent listed in Schedule 3 (General Drawdown Conditions) are met with respect to any Advance; and (c) each condition subsequent listed in Schedule 4 (Conditions Subsequent) has been met to the satisfaction of the Agent within three months of the date indicated in such Schedule for its satisfaction unless (i) the Agent, acting on the instruction of Majority Lenders, determines that failure to meet the relevant condition subsequent will not be materially adverse in relation to the Borrower’s ability to perform its obligations under the Transaction Documents and/or the validity or enforceability of the Transaction Documents or (ii) such failure is subsequently remedied. 3.3.2 The Agent may waive each drawdown condition with the Majority Lenders’ consent upon written request by the Borrower to the Agent.

Drawdown Conditions. 3.3.1 The Borrower may only deliver a Drawdown Request to the Agent if: (a) the conditions precedent listed in Schedule 2 (Conditions for the First ---------- Drawdown) are met with respect to the first Advance and the Agent has notified the Borrower and the Lenders that it has received all of the documents and other evidence to be delivered in respect of such conditions precedent and each is in form and substance satisfactory to the Agent (and the Agent undertakes to promptly after receipt of such documents and evidence notify the Borrower that such conditions are met or inform the Borrower of the reasons they are not met); (b) the conditions precedent listed in Schedule 3 (General Drawdown ----------- Conditions) are met with respect to any Advance; and (c) each condition subsequent listed in Schedule 4 (Conditions Subsequent) ---------- has been met to the satisfaction of the Agent within three months of the date indicated in such Schedule for its satisfaction unless (i) the Agent, acting on the instruction of Majority Lenders, determines that failure to meet the relevant condition subsequent will not be materially adverse in relation to the Borrower’s 's ability to perform its obligations under the Transaction Documents and/or the validity or enforceability of the Transaction Documents or (ii) such failure is subsequently remedied. 3.3.2 The Agent may waive each drawdown condition with the Majority Lenders’ ' consent upon written request by the Borrower to the Agent.