Common use of Drawdown Procedures Clause in Contracts

Drawdown Procedures. The Borrower may request the Lender to advance the proceeds of the Loan by delivering to the Lender a duly completed Drawdown Notice, substantially in the form attached hereto as Appendix A (the “Drawdown Notice”), which notice, once given, shall be irrevocable and shall be received by the Lender not later than 11:00 a.m. Eastern time two (2) Business Days prior to the proposed funding date. The Lender’s obligation to make the Loan to the Borrower as set forth herein shall expire on October 31, 2019; provided, however, that such commitment shall terminate automatically upon the occurrence of an Event of Default.