Common use of Drawdown Conditions Clause in Contracts

Drawdown Conditions. RELATING TO THE TERM ADVANCES Save as otherwise provided in the Intercompany Loan Agreement, the Term Advances will be made available by the Issuer to Funding 1 on the Closing Date if: (a) the Notes have been issued by the Issuer and the subscription proceeds have been received by or on behalf of the Issuer; (b) not later than 2.00 p.m. (London time) on the Closing Date (or such later time as may be agreed in writing by Funding 1, theIssuer and the Security Trustee), the Issuer and the Security Trustee have received from Funding 1 a Drawdown Notice requesting a drawing under the Intercompany Loan Agreement, receipt of which shall (subject to the terms of the Intercompany Loan Agreement and to the issue of the Notes by the Issuer) oblige Funding 1 to borrow the whole of the amount requested in the Drawdown Notice on the date stated in the Drawdown Notice (which shall be the Closing Date) upon the terms and subject to the conditions contained in the Intercompany Loan Agreement; (c) Funding 1 has confirmed in the relevant Drawdown Notice that: (i) no Intercompany Loan Event of Default has occurred and is continuing unremedied (if capable of remedy) or unwaived or would result from the making of the Term Advances; (ii) the representations set out in Clause 12 (Representations and Warranties of Funding 1) are true on and as of the Closing Date by reference to the facts and circumstances then existing; (d) the aggregate principal amount of the Term Advances to be drawn on the Drawdown Date would not exceed the amount available for drawing under the Intercompany Loan Agreement as at the relevant Drawdown Date; and (e) Funding 1 has delivered a solvency certificate substantially in the form set out in Schedule 2 to these Intercompany Loan Terms and Conditions.

Drawdown Conditions. RELATING TO THE TERM ADVANCES Save as otherwise provided in the Intercompany Loan Agreement3.1 The Borrower may, the Term Advances will be made available by the Issuer to Funding 1 on the Closing Date if: (a) the Notes have been issued by the Issuer and the subscription proceeds have been received by or on behalf of the Issuer; (b) not later than 2.00 p.m. (London time) on the Closing Date (or such later time as may be agreed in writing by Funding 1, theIssuer and the Security Trustee), the Issuer and the Security Trustee have received from Funding 1 a Drawdown Notice requesting a drawing under the Intercompany Loan Agreement, receipt of which shall (subject to Clause 3.3, utilise the terms of the Intercompany Loan Agreement and Facility by delivering to the issue Bank at the Designated Branch a duly completed Drawdown Notice. 3.2 For the purposes of the Notes by the Issuer) oblige Funding 1 to borrow the whole of the amount requested in Clause 3.1 above, the Drawdown Notice on the date stated in the Drawdown Notice (which shall will not be the Closing Date) upon the terms and subject considered to the conditions contained in the Intercompany Loan Agreement; (c) Funding 1 has confirmed in the relevant Drawdown Notice thathave been duly completed unless: (i) no Intercompany Loan Event the Drawdown Notice specifies: (i) the currency and amount to be disbursed by the Bank; (ii) the proposed date of Default has occurred utilisation; (iii) the proposed Repayment Date: and is continuing unremedied (if capable of remedyiv) or unwaived or would result from the making of the Term Advancesproposed Specified Rate; (ii) the representations proposed date of utilisation is a Business Day within the Availability Period; (iii) the Drawdown Notice specifies that no Event of Default or potential Event of Default has occurred and/or is in existence or continuing; (iv) the Drawdown Notice is given at least 3 Business Days prior to the proposed date of utilisation: (v) the amount proposed to be borrowed in a particular currency (as set out in Clause 12 (Representations and Warranties of Funding 1the Drawdown Notice) are true on and as of when aggregated with the Closing Date outstanding principal amount(s) borrowed by reference to the facts and circumstances then existingBorrower under this Agreement in that currency does not exceed the Relevant Currency Amount; (dvi) the aggregate principal amount Drawdown Notice sets out the detail(s) of the Term Advances bank account(s) into which the proceeds of the Facility are to be drawn on the Drawdown Date would not exceed the amount available for drawing under the Intercompany Loan Agreement as at the relevant Drawdown Dateremitted; (vii) all Conditions Precedent have been satisfied; and (eviii) Funding 1 the Additional Conditions (if any) have been complied with; and (ix) the Security has delivered a solvency certificate substantially been validly created in form and substance acceptable to the form Bank. 3.3 If the Drawdown Notice is duly completed, the Bank may at its sole and absolute discretion disburse to the Borrower the amount set out in Schedule 2 to these Intercompany Loan Terms the Drawdown Notice in the currency set out in the Drawdown Notice and Conditionson the terms set out therein unless otherwise communicated by the Bank.

Drawdown Conditions. RELATING TO THE TERM ADVANCES Save as otherwise provided in the Intercompany Loan Agreement, the Term Advances will be made available by the Issuer to Funding 1 on the relevant Closing Date if: (a) the Notes have been issued by the Issuer and the subscription proceeds have been received by or on behalf of the Issuer; (b) not later than 2.00 p.m. (London time) on the relevant Closing Date (or such later time as may be agreed in writing by Funding 1Funding, theIssuer the Issuer and the Security Trustee), the Issuer and the Security Trustee have received from Funding 1 a Drawdown Notice requesting a drawing under the Intercompany Loan Agreement, receipt of which shall (subject to the terms of the Intercompany Loan Agreement and to the issue of the Notes by the Issuer) oblige Funding 1 to borrow the whole of the amount requested in the Drawdown Notice on the date stated in the Drawdown Notice (which shall be the relevant Closing Date) upon the terms and subject to the conditions contained in the Intercompany Loan Agreement; (c) Funding 1 has confirmed in the relevant Drawdown Notice that: (i) no Intercompany Loan Event of Default has occurred and is continuing unremedied (if capable of remedy) or unwaived or would result from the making of the Term Advances; (ii) the representations set out in Clause 12 (Representations and Warranties warranties of Funding 1Funding) are true on and as of the Closing Date by reference to the facts and circumstances then existing; (d) the aggregate principal amount of the Term Advances to be drawn on the Drawdown Date would not exceed the amount available for drawing under the Intercompany Loan Agreement as at the relevant Drawdown Date; and (e) Funding 1 has delivered a solvency certificate substantially in the form set out in Schedule 2 to these Intercompany Loan Terms and Conditions.