Common use of Drawdown Clause in Contracts

Drawdown. 3.1 Amounts that have been drawn down (1) prior to execution of this Agreement, the Borrower has entered into a RMB Loan Agreement (No. 2009(1270)3) with China Construction Bank, Wanzhou Branch, pursuant to which a fixed asset loan of RMB400,000,000 was granted to the Borrower on January 21, 2009 for the purpose of construction of the Project. This shall be the first drawdown under this Agreement. (2) prior to execution of this Agreement, the Borrower has entered into a RMB Loan Agreement (No. 2009(1230)24) with China Construction Bank, Wanzhou Branch, pursuant to which a working capital loan of RMB100,000,000 was granted to the Borrower on July 7, 2009 for the purpose of construction of the Project. This shall be the second drawdown under this Agreement. 3.2 Unless otherwise agreed upon herein, except for the first and second drawdown, the Borrower may only withdraw the loan upon satisfaction of the following conditions. Each Lender shall specify a planned Drawdown Date in the Drawdown Notice with respect to each Loan Fund, and each Loan Fund in RMB shall be advanced to a RMB account held by the Agent Bank. (1) The Agent Bank receives a Drawdown Notice issued by the Borrower in respect of the Loan Fund concerned before11:00 am (Beijing time) of the seventh (7 th) Business Day ahead of the planned Drawdown Date, as well as the condition precedent documents specified under Annex 2; (2) The planned Drawdown Date under the Drawdown Notice is a Business Day within the Drawdown Period; (3) The Agent Bank confirms the Drawdown Notice according to Article 3.3 hereof. 3.3 The Agent Bank shall, within two (2) Business Days after receipt of a Drawdown Notice in respect of a Loan Fund, notify each Lender of the Loan Fund and their respective contribution in the form loan issuance notice of Annex 5, and shall provide the duplicate of the Drawdown Notice and the condition precedent documents specified in Annex 2. Each Lender shall examine all documents provided by the Agent Bank according Article 3.2 hereof; upon satisfaction of all other conditions under this Agreement, each Lender shall, within two (2) Business Days, serve confirmation letter on the Agent Bank in the form of Annex 9 for participation in granting the Loan Fund. 3.4 Upon the condition of the Agent Bank’s receipt of all Loan Funds from all Lenders, the Agent Bank shall confirm each Drawdown Notice on the Drawdown Date on behalf of each Lender. 3.5 The Drawdown Notice issued and delivered by the Borrower is irrevocable. To the extent permitted hereunder, the Borrower is responsible to withdraw the funds according the Drawdown Notice, failing which the Borrower shall indemnify the Agent Bank and the Lenders the cost for financing actually incurred as requested. 3.6 Upon expiry of the Drawdown Period, the Borrower’s Available Loan shall be reduced to zero automatically.

Appears in 1 contract

Sources: Syndicated Loan Agreement

Drawdown. 3.1 Amounts that have been drawn down (1) prior You may not borrow the Loan or any part of it until the Lender has received, in form and substance satisfactory to execution of this Agreement, it the Borrower has entered into a RMB Loan Agreement (No. 2009(1270)3) with China Construction Bank, Wanzhou Branch, pursuant documents and evidence specified as Conditions Precedent to which a fixed asset loan of RMB400,000,000 was granted to the Borrower on January 21, 2009 for the purpose of construction of the Project. This shall be the first drawdown under this Agreement. (2) prior to execution of this Agreement, the Borrower has entered into a RMB Loan Agreement (No. 2009(1230)24) with China Construction Bank, Wanzhou Branch, pursuant to which a working capital loan of RMB100,000,000 was granted to the Borrower on July 7, 2009 for the purpose of construction of the Project. This shall be the second drawdown under this Agreement. 3.2 Unless otherwise agreed upon herein, except for the first and second drawdown, the Borrower may only withdraw the loan upon satisfaction of the following conditions. Each Lender shall specify a planned Drawdown Date in the Drawdown Notice with respect to each Loan Fund, and each Loan Fund in RMB shall be advanced to a RMB account held by the Agent Bank. (1) The Agent Bank receives a Drawdown Notice issued by the Borrower in respect Availability of the Loan Fund concerned before11:00 am (Beijing time) in the Key Terms 3.2 You may only borrow any of the seventh (7 th) Loan if:- 3.2.1 the borrowing is to take place on a Business Day ahead Day; 3.2.2 any Additional Conditions Precedent applicable to the amount to be borrowed as specified in the Key Terms have been satisfied; 3.2.3 you have given the Lender 1 Business Day's written notice of your intention to borrow the Loan, if necessary stating the amount to be borrowed; 3.2.4 on each date on which you borrow all or part of the planned Drawdown DateLoan, no Event of Default or Potential Event of Default has occurred or will occur as well as a result of the condition precedent documents specified under Annex 2;borrowing; and 3.2.5 any Borrower that is an individual (2or a trustee) The planned Drawdown Date under has signed and dated the Drawdown Notice is a Business Day within Declaration at the Drawdown Period; (3) The Agent Bank confirms end of the Drawdown Notice according to Article 3.3 hereofKey Terms. 3.3 The Agent Bank shallamount that you may borrow at any time under this Loan Agreement shall be the lower of: 3.3.1 such amount as shall ensure that the Loan does not exceed the Loan Amount; and 3.3.2 if specified in the Key Terms, within two (2) Business Days after receipt such amount as shall ensure that any Forward Looking Financial Covenants, tested as at the Drawdown Date and taking full account of a Drawdown Notice the amount borrowed, are met. 3.4 You may borrow the Loan in respect of a accordance with the drawdown profile specified in the Key Terms and during the period specified in relation to the Loan Fund, notify each Lender or any particular part of the Loan Fund and their respective contribution in the form loan issuance notice section Master (Term) Base Rate Facility Letter Standard Terms of Annex 5the Key Terms headed "Drawing Profile" (the "Availability Period"). Any amount which has not been borrowed on or before the last day of the Availability Period will be automatically cancelled and may no longer be borrowed, but this will not prevent any interest roll up under paragraph 5.3. The period of availability of the Loan or any particular part of it may, at the Lender’s sole discretion, and shall provide without any notification, be extended during the duplicate of the Drawdown Notice and the condition precedent documents specified in Annex 2. Each Lender shall examine all documents provided by the Agent Bank according Article 3.2 hereof; upon satisfaction of all other conditions under this Agreement, each Lender shall, within two (2) Business Days, serve confirmation letter on the Agent Bank in the form of Annex 9 for participation in granting the Loan FundAvailability Period. 3.4 Upon the condition of the Agent Bank’s receipt of all Loan Funds from all Lenders, the Agent Bank shall confirm each Drawdown Notice on the Drawdown Date on behalf of each Lender. 3.5 The Drawdown Notice issued and delivered by the Borrower is irrevocable. To the extent permitted hereunder, the Borrower is responsible to withdraw the funds according the Drawdown Notice, failing which the Borrower shall indemnify the Agent Bank and the Lenders the cost for financing actually incurred as requested. 3.6 Upon expiry of the Drawdown Period, the Borrower’s Available Loan shall be reduced to zero automatically.

Appears in 1 contract

Sources: Loan Agreement

Drawdown. 3.1 Amounts that have been drawn down (1) prior to execution of this Agreement, the Borrower has entered into a RMB Loan Agreement (No. 2009(1270)3) with China Construction Bank, Wanzhou Branch, pursuant to which a fixed asset loan of RMB400,000,000 was granted to the Borrower on January 21, 2009 for the purpose of construction of the Project. This shall be the first drawdown under this Agreement. (2) prior to execution of this Agreement, the Borrower has entered into a RMB Loan Agreement (No. 2009(1230)24) with China Construction Bank, Wanzhou Branch, pursuant to which a working capital loan of RMB100,000,000 was granted to the Borrower on July 7, 2009 for the purpose of construction of the Project. This shall be the second drawdown under this Agreement. 3.2 Unless otherwise agreed upon herein, except for the first and second drawdown, the Borrower may only withdraw the loan upon satisfaction of the following conditions. Each Lender shall specify a planned Drawdown Date in the Drawdown Notice with respect to each Loan Fund, and each Loan Fund in RMB shall be advanced to a RMB account held by the Agent Bank. (1) The Agent Bank receives a Drawdown Notice issued by the Borrower in respect of the Loan Fund concerned before11:00 am (Beijing time) of the seventh (7 th) Business Day ahead of the planned Drawdown Date, as well as the condition precedent documents specified under Annex ▇▇▇▇▇ 2; (2) The planned Drawdown Date under the Drawdown Notice is a Business Day within the Drawdown Period; (3) The Agent Bank confirms the Drawdown Notice according to Article 3.3 hereof. 3.3 The Agent Bank shall, within two (2) Business Days after receipt of a Drawdown Notice in respect of a Loan Fund, notify each Lender of the Loan Fund and their respective contribution in the form loan issuance notice of Annex 5, and shall provide the duplicate of the Drawdown Notice and the condition precedent documents specified in Annex 2. Each Lender shall examine all documents provided by the Agent Bank according Article 3.2 hereof; upon satisfaction of all other conditions under this Agreement, each Lender shall, within two (2) Business Days, serve confirmation letter on the Agent Bank in the form of Annex 9 for participation in granting the Loan Fund. 3.4 Upon the condition of the Agent Bank’s receipt of all Loan Funds from all Lenders, the Agent Bank shall confirm each Drawdown Notice on the Drawdown Date on behalf of each Lender. 3.5 The Drawdown Notice issued and delivered by the Borrower is irrevocable. To the extent permitted hereunder, the Borrower is responsible to withdraw the funds according the Drawdown Notice, failing which the Borrower shall indemnify the Agent Bank and the Lenders the cost for financing actually incurred as requested. 3.6 Upon expiry of the Drawdown Period, the Borrower’s Available Loan shall be reduced to zero automatically.

Appears in 1 contract

Sources: Medium to Long Term Syndicated Loan Agreement (Daqo New Energy Corp.)

Drawdown. 3.1 Amounts that have been drawn down (1) prior You may not borrow the Loan or any part of it until the Lender has received, in form and substance satisfactory to execution of this Agreement, it the Borrower has entered into a RMB Loan Agreement (No. 2009(1270)3) with China Construction Bank, Wanzhou Branch, pursuant documents and evidence specified as Conditions Precedent to which a fixed asset loan of RMB400,000,000 was granted to the Borrower on January 21, 2009 for the purpose of construction of the Project. This shall be the first drawdown under this Agreement. (2) prior to execution of this Agreement, the Borrower has entered into a RMB Loan Agreement (No. 2009(1230)24) with China Construction Bank, Wanzhou Branch, pursuant to which a working capital loan of RMB100,000,000 was granted to the Borrower on July 7, 2009 for the purpose of construction of the Project. This shall be the second drawdown under this Agreement. 3.2 Unless otherwise agreed upon herein, except for the first and second drawdown, the Borrower may only withdraw the loan upon satisfaction of the following conditions. Each Lender shall specify a planned Drawdown Date in the Drawdown Notice with respect to each Loan Fund, and each Loan Fund in RMB shall be advanced to a RMB account held by the Agent Bank. (1) The Agent Bank receives a Drawdown Notice issued by the Borrower in respect Availability of the Loan Fund concerned before11:00 am (Beijing time) in the Key Terms 3.2 You may only borrow any of the seventh (7 th) Loan if:- 3.2.1 the borrowing is to take place on a Business Day ahead Day; 3.2.2 any Additional Conditions Precedent applicable to the amount to be borrowed as specified in the Key Terms have been satisfied; 3.2.3 you have given the Lender 1 Business Day's written notice of your intention to borrow the Loan, if necessary stating the amount to be borrowed; 3.2.4 on each date on which you borrow all or part of the planned Drawdown DateLoan, no Event of Default or Potential Event of Default has occurred or will occur as well as a result of the condition precedent documents specified under Annex 2;borrowing; and 3.2.5 any Borrower that is an individual (2or a trustee) The planned Drawdown Date under has signed and dated the Drawdown Notice is a Business Day within Declaration at the Drawdown Period; (3) The Agent Bank confirms end of the Drawdown Notice according to Article 3.3 hereofKey Terms. 3.3 The Agent Bank shallamount that you may borrow at any time under this Loan Agreement shall be the lower of: 3.3.1 such amount as shall ensure that the Loan does not exceed the Loan Amount; and 3.3.2 if specified in the Key Terms, within two (2) Business Days after receipt such amount as shall ensure that any Forward Looking Financial Covenants, tested as at the Drawdown Date and taking full account of a Drawdown Notice the amount borrowed, are met. 3.4 You may borrow the Loan in respect of a accordance with the drawdown profile specified in the Key Terms and during the period specified in relation to the Loan Fund, notify each Lender or any particular part of the Loan Fund and their respective contribution in the form loan issuance notice section of Annex 5the Key Terms headed "Drawing Profile" (the "Availability Period"). Any amount Master (Term) Base Rate Facility Letter Standard Terms SAL06679 41104787.1 1 which has not been borrowed on or before the last day of the Availability Period will be automatically cancelled and may no longer be borrowed, but this will not prevent any interest roll up under paragraph 5.3. The period of availability of the Loan or any particular part of it may, at the Lender’s sole discretion, and shall provide without any notification, be extended during the duplicate of the Drawdown Notice and the condition precedent documents specified in Annex 2. Each Lender shall examine all documents provided by the Agent Bank according Article 3.2 hereof; upon satisfaction of all other conditions under this Agreement, each Lender shall, within two (2) Business Days, serve confirmation letter on the Agent Bank in the form of Annex 9 for participation in granting the Loan FundAvailability Period. 3.4 Upon the condition of the Agent Bank’s receipt of all Loan Funds from all Lenders, the Agent Bank shall confirm each Drawdown Notice on the Drawdown Date on behalf of each Lender. 3.5 The Drawdown Notice issued and delivered by the Borrower is irrevocable. To the extent permitted hereunder, the Borrower is responsible to withdraw the funds according the Drawdown Notice, failing which the Borrower shall indemnify the Agent Bank and the Lenders the cost for financing actually incurred as requested. 3.6 Upon expiry of the Drawdown Period, the Borrower’s Available Loan shall be reduced to zero automatically.

Appears in 1 contract

Sources: Loan Agreement

Drawdown. 3.1 Amounts that have been drawn down (1) prior You may not borrow the Loan or any part of it until the Lender has received, in form and substance satisfactory to execution of this Agreement, it the Borrower has entered into a RMB Loan Agreement (No. 2009(1270)3) with China Construction Bank, Wanzhou Branch, pursuant documents and evidence specified as Conditions Precedent to which a fixed asset loan of RMB400,000,000 was granted to the Borrower on January 21, 2009 for the purpose of construction of the Project. This shall be the first drawdown under this Agreement. (2) prior to execution of this Agreement, the Borrower has entered into a RMB Loan Agreement (No. 2009(1230)24) with China Construction Bank, Wanzhou Branch, pursuant to which a working capital loan of RMB100,000,000 was granted to the Borrower on July 7, 2009 for the purpose of construction of the Project. This shall be the second drawdown under this Agreement. 3.2 Unless otherwise agreed upon herein, except for the first and second drawdown, the Borrower may only withdraw the loan upon satisfaction of the following conditions. Each Lender shall specify a planned Drawdown Date in the Drawdown Notice with respect to each Loan Fund, and each Loan Fund in RMB shall be advanced to a RMB account held by the Agent Bank. (1) The Agent Bank receives a Drawdown Notice issued by the Borrower in respect Availability of the Loan Fund concerned before11:00 am (Beijing time) in the Key Terms 3.2 You may only borrow any of the seventh (7 th) Loan if:- 3.2.1 the borrowing is to take place on a Business Day ahead Day; 3.2.2 any Additional Conditions Precedent applicable to the amount to be borrowed as specified in the Key Terms have been satisfied; 3.2.3 you have given the Lender 1 Business Day's written notice of your intention to borrow the Loan, if necessary stating the amount to be borrowed; 3.2.4 on each date on which you borrow all or part of the planned Drawdown DateLoan, no Event of Default or Potential Event of Default has occurred or will occur as well as a result of the condition precedent documents specified under Annex 2;borrowing; and 3.2.5 any Borrower that is an individual (2or a trustee) The planned Drawdown Date under has signed and dated the Drawdown Notice is a Business Day within Declaration at the Drawdown Period; (3) The Agent Bank confirms end of the Drawdown Notice according to Article 3.3 hereofKey Terms. 3.3 The Agent Bank shallamount that you may borrow at any time under this Loan Agreement shall be the lower of: 3.3.1 such amount as shall ensure that the Loan does not exceed the Loan Amount; and 3.3.2 if specified in the Key Terms, within two (2) Business Days after receipt such amount as shall ensure that any Forward Looking Financial Covenants, tested as at the Drawdown Date and taking full account of a Drawdown Notice the amount borrowed, are met. SAL06679 Vers ion 1.1 Online Standard Terms 3.4 You may borrow the Loan in respect of a accordance with the drawdown profile specified in the Key Terms and during the period specified in relation to the Loan Fund, notify each Lender or any particular part of the Loan Fund and their respective contribution in the form loan issuance notice section of Annex 5the Key Terms headed "Drawing Profile" (the "Availability Period"). Any amount which has not been borrowed on or before the last day of the Availability Period will be automatically cancelled and may no longer be borrowed, but this will not prevent any interest roll up under paragraph 5.3. The period of availability of the Loan or any particular part of it may, at the Lender’s sole discretion, and shall provide without any notification, be extended during the duplicate of the Drawdown Notice and the condition precedent documents specified in Annex 2. Each Lender shall examine all documents provided by the Agent Bank according Article 3.2 hereof; upon satisfaction of all other conditions under this Agreement, each Lender shall, within two (2) Business Days, serve confirmation letter on the Agent Bank in the form of Annex 9 for participation in granting the Loan FundAvailability Period. 3.4 Upon the condition of the Agent Bank’s receipt of all Loan Funds from all Lenders, the Agent Bank shall confirm each Drawdown Notice on the Drawdown Date on behalf of each Lender. 3.5 The Drawdown Notice issued and delivered by the Borrower is irrevocable. To the extent permitted hereunder, the Borrower is responsible to withdraw the funds according the Drawdown Notice, failing which the Borrower shall indemnify the Agent Bank and the Lenders the cost for financing actually incurred as requested. 3.6 Upon expiry of the Drawdown Period, the Borrower’s Available Loan shall be reduced to zero automatically.

Appears in 1 contract

Sources: Secured Term Loan Facility

Drawdown. 3.1 Amounts that have been drawn down (1) prior You may not borrow the Loan or any part of it until the Lender has received, in form and substance satisfactory to execution of this Agreement, it the Borrower has entered into a RMB Loan Agreement (No. 2009(1270)3) with China Construction Bank, Wanzhou Branch, pursuant documents and evidence specified as Conditions Precedent to which a fixed asset loan of RMB400,000,000 was granted to the Borrower on January 21, 2009 for the purpose of construction of the Project. This shall be the first drawdown under this Agreement. (2) prior to execution of this Agreement, the Borrower has entered into a RMB Loan Agreement (No. 2009(1230)24) with China Construction Bank, Wanzhou Branch, pursuant to which a working capital loan of RMB100,000,000 was granted to the Borrower on July 7, 2009 for the purpose of construction of the Project. This shall be the second drawdown under this Agreement. 3.2 Unless otherwise agreed upon herein, except for the first and second drawdown, the Borrower may only withdraw the loan upon satisfaction of the following conditions. Each Lender shall specify a planned Drawdown Date in the Drawdown Notice with respect to each Loan Fund, and each Loan Fund in RMB shall be advanced to a RMB account held by the Agent Bank. (1) The Agent Bank receives a Drawdown Notice issued by the Borrower in respect Availability of the Loan Fund concerned before11:00 am (Beijing time) in the Key Terms 3.2 You may only borrow any of the seventh (7 th) Loan if:- 3.2.1 the borrowing is to take place on a Business Day ahead Day; 3.2.2 any Additional Conditions Precedent applicable to the amount to be borrowed as specified in the Key Terms have been satisfied; 3.2.3 you have given the Lender 1 Business Day's written notice of your intention to borrow the Loan, if necessary stating the amount to be borrowed; 3.2.4 on each date on which you borrow all or part of the planned Drawdown DateLoan, no Event of Default or Potential Event of Default has occurred or will occur as well as a result of the condition precedent documents specified under Annex 2;borrowing; and 3.2.5 any Borrower that is an individual (2or a trustee) The planned Drawdown Date under has signed and dated the Drawdown Notice is a Business Day within Declaration at the Drawdown Period; (3) The Agent Bank confirms end of the Drawdown Notice according to Article 3.3 hereofKey Terms. 3.3 The Agent Bank shallamount that you may borrow at any time under this Loan Agreement shall be the lower of: 3.3.1 such amount as shall ensure that the Loan does not exceed the Loan Amount; and 3.3.2 if specified in the Key Terms, within two (2) Business Days after receipt such amount as shall ensure that any Forward Looking Financial Covenants, tested as at the Drawdown Date and taking full account of a Drawdown Notice the amount borrowed, are met. SAL05285 Vers ion 1.0 Online Standard Terms 3.4 You may borrow the Loan in respect of a accordance with the drawdown profile specified in the Key Terms and during the period specified in relation to the Loan Fund, notify each Lender or any particular part of the Loan Fund and their respective contribution in the form loan issuance notice section of Annex 5the Key Terms headed "Drawing Profile" (the "Availability Period"). Any amount which has not been borrowed on or before the last day of the Availability Period will be automatically cancelled and may no longer be borrowed, but this will not prevent any interest roll up under paragraph 5.3. The period of availability of the Loan or any particular part of it may, at the Lender’s sole discretion, and shall provide without any notification, be extended during the duplicate of the Drawdown Notice and the condition precedent documents specified in Annex 2. Each Lender shall examine all documents provided by the Agent Bank according Article 3.2 hereof; upon satisfaction of all other conditions under this Agreement, each Lender shall, within two (2) Business Days, serve confirmation letter on the Agent Bank in the form of Annex 9 for participation in granting the Loan FundAvailability Period. 3.4 Upon the condition of the Agent Bank’s receipt of all Loan Funds from all Lenders, the Agent Bank shall confirm each Drawdown Notice on the Drawdown Date on behalf of each Lender. 3.5 The Drawdown Notice issued and delivered by the Borrower is irrevocable. To the extent permitted hereunder, the Borrower is responsible to withdraw the funds according the Drawdown Notice, failing which the Borrower shall indemnify the Agent Bank and the Lenders the cost for financing actually incurred as requested. 3.6 Upon expiry of the Drawdown Period, the Borrower’s Available Loan shall be reduced to zero automatically.

Appears in 1 contract

Sources: Loan Agreement

Drawdown. 3.1 Amounts that have been drawn down (1) prior You may not borrow the Loan or any part of it until the Lender has received, in form and substance satisfactory to execution of this Agreement, it the Borrower has entered into a RMB Loan Agreement (No. 2009(1270)3) with China Construction Bank, Wanzhou Branch, pursuant documents and evidence specified as Conditions Precedent to which a fixed asset loan of RMB400,000,000 was granted to the Borrower on January 21, 2009 for the purpose of construction of the Project. This shall be the first drawdown under this Agreement. (2) prior to execution of this Agreement, the Borrower has entered into a RMB Loan Agreement (No. 2009(1230)24) with China Construction Bank, Wanzhou Branch, pursuant to which a working capital loan of RMB100,000,000 was granted to the Borrower on July 7, 2009 for the purpose of construction of the Project. This shall be the second drawdown under this Agreement. 3.2 Unless otherwise agreed upon herein, except for the first and second drawdown, the Borrower may only withdraw the loan upon satisfaction of the following conditions. Each Lender shall specify a planned Drawdown Date in the Drawdown Notice with respect to each Loan Fund, and each Loan Fund in RMB shall be advanced to a RMB account held by the Agent Bank. (1) The Agent Bank receives a Drawdown Notice issued by the Borrower in respect Availability of the Loan Fund concerned before11:00 am (Beijing time) in the Key Terms 3.2 You may only borrow any of the seventh (7 th) Loan if:- 3.2.1 the borrowing is to take place on a Business Day ahead Day; 3.2.2 any Additional Conditions Precedent applicable to the amount to be borrowed as specified in the Key Terms have been satisfied; 3.2.3 you have given the Lender 1 Business Day's written notice of your intention to borrow the Loan, if necessary stating the amount to be borrowed; 3.2.4 on each date on which you borrow all or part of the planned Drawdown DateLoan, no Event of Default or Potential Event of Default has occurred or will occur as well as a result of the condition precedent documents specified under Annex 2;borrowing; and 3.2.5 any Borrower that is an individual (2or a trustee) The planned Drawdown Date under has signed and dated the Drawdown Notice is a Business Day within Declaration at the Drawdown Period; (3) The Agent Bank confirms end of the Drawdown Notice according to Article 3.3 hereofKey Terms. 3.3 The Agent Bank shallamount that you may borrow at any time under this Loan Agreement shall be the lower of: 3.3.1 such amount as shall ensure that the Loan does not exceed the Loan Amount; and 3.3.2 if specified in the Key Terms, within two (2) Business Days after receipt such amount as shall ensure that any Forward Looking Financial Covenants, tested as at the Drawdown Date and taking full account of a Drawdown Notice the amount borrowed, are met. 3.4 You may borrow the Loan in respect of a accordance with the drawdown profile specified in the Key Terms and during the period specified in relation to the Loan Fund, notify each Lender or any particular part of the Loan Fund and their respective contribution in the form loan issuance notice section of Annex 5the Key Terms headed "Drawing Profile" (the "Availability Period"). Any amount which has not been borrowed on or before the last day of the Availability Period will be automatically cancelled and may no longer be borrowed, but this will not prevent any interest roll up under paragraph 5.3. The period of availability of the Loan or any particular part of it may, at the Lender’s sole discretion, and shall provide without any notification, be extended during the duplicate of the Drawdown Notice and the condition precedent documents specified in Annex 2. Each Lender shall examine all documents provided by the Agent Bank according Article 3.2 hereof; upon satisfaction of all other conditions under this Agreement, each Lender shall, within two (2) Business Days, serve confirmation letter on the Agent Bank in the form of Annex 9 for participation in granting the Loan FundAvailability Period. 3.4 Upon the condition of the Agent Bank’s receipt of all Loan Funds from all Lenders, the Agent Bank shall confirm each Drawdown Notice on the Drawdown Date on behalf of each Lender. 3.5 The Drawdown Notice issued and delivered by the Borrower is irrevocable. To the extent permitted hereunder, the Borrower is responsible to withdraw the funds according the Drawdown Notice, failing which the Borrower shall indemnify the Agent Bank and the Lenders the cost for financing actually incurred as requested. 3.6 Upon expiry of the Drawdown Period, the Borrower’s Available Loan shall be reduced to zero automatically.

Appears in 1 contract

Sources: Loan Agreement

Drawdown. 3.1 Amounts that have been drawn down9.1 Each Borrower may submit one or more written requests for advance ("Advance Request") under this Facility Letter in the form of the Exhibit to this Facility Letter or in such other form acceptable to the Lender and shall provide such other information as the Lender may from time to time request. The Advance Request must be submitted by facsimile and followed by notice by telephone at least three (3) Banking Days prior to the proposed drawdown date for the advance, specifying, among others: (1a) prior the proposed amount of the advance to execution of this Agreementbe drawn, which must comply with Clause 9.3 and Clause 9.4; (b) the Borrower has entered into proposed drawdown date; and (c) the proposed repayment date (each a RMB Loan Agreement (No"Repayment Date"), which must comply with Clause 9.5. 2009(1270)3) with China Construction Bank, Wanzhou Branch, pursuant to which a fixed asset loan of RMB400,000,000 was granted The faxed Advance Request must be followed by the original to the Borrower on January 21Lender. The Lender may, 2009 but shall not be obliged to, regard the faxed Advance Request as good and valid notice. 9.2 Any Advance Request for the purpose of construction of the Project. This advance shall be the first drawdown under this Agreement. (2) prior irrevocable. A Borrower shall not be entitled to execution cancel or withdraw an Advance Request. The Lender may agree to allow cancellation of this Agreement, the Borrower has entered into a RMB Loan Agreement (No. 2009(1230)24) with China Construction Bank, Wanzhou Branch, pursuant to which a working capital loan of RMB100,000,000 was granted an Advance Request subject to the relevant Borrower on July 7, 2009 for paying all cost and expenses under Clause 16.4. The Lender's confirmation of an Advance Request (if any) or (if there is no such confirmation) the purpose of construction of the Project. This shall be the second drawdown under this Agreement. 3.2 Unless otherwise agreed upon herein, except for the first and second drawdown, the Borrower may only withdraw the loan upon satisfaction of the following conditions. Each Lender shall specify a planned Drawdown Date records (whether in the Drawdown Notice with respect to each Loan Fund, and each Loan Fund in RMB shall be advanced to a RMB account held by the Agent Bank. (1) The Agent Bank receives a Drawdown Notice issued by the Borrower in respect of the Loan Fund concerned before11:00 am (Beijing timedocument or electronic form) of the seventh (7 th) Business Day ahead Lender shall be conclusive evidence as against the relevant Borrower of the planned Drawdown Dateterms on which an advance is made. Without limiting the generality of the above the Lender may require the relevant Borrower to verify the correctness of any notice of confirmation and the relevant Borrower undertakes to examine and verify each and every notice of confirmation by signing, dating and returning a copy of the notice to the Lender. 9.3 Notwithstanding any other provisions of this Facility Letter: (a) an advance will not be made if, as well as a result of making such advance, the condition precedent documents specified under Annex 2;Commitment will be exceeded; and (2b) The planned Drawdown Date under if more than one advance is requested and as a result of making all of such requested advances, the Drawdown Notice is Commitment will be exceeded, then the Lender may determine whether or not to make any advance so requested, regardless of the time of delivery of the relevant Advance Requests, provided that the Commitment will not be exceeded as a Business Day within the Drawdown Period; (3) The Agent Bank confirms the Drawdown Notice according to Article 3.3 hereofresult. 3.3 9.4 The Agent Bank shall, within minimum amount of any advance shall be RMB1,000,000.00 and advances shall only be permitted in whole multiples of RMB500,000.00. 9.5 The period between the drawdown date of an advance and its Repayment Date shall be two (2) Business Days after receipt of a Drawdown Notice in respect of a Loan Fundweeks, notify each Lender of the Loan Fund and their respective contribution in the form loan issuance notice of Annex 5one (1) month, and shall provide the duplicate of the Drawdown Notice and the condition precedent documents specified in Annex 2. Each Lender shall examine all documents provided by the Agent Bank according Article 3.2 hereof; upon satisfaction of all other conditions under this Agreement, each Lender shall, within two (2) Business Daysmonths or three (3) months, serve confirmation letter on as selected by a Borrower by specifying the Agent Bank Repayment Date in the form relevant Advance Request. The Repayment Date must not be after the date falling fifteen (15) months after the date of Annex 9 for participation in granting this Facility Letter (the Loan Fund"Final Maturity Date"). 3.4 Upon the condition of the Agent Bank’s receipt of all Loan Funds from all Lenders, the Agent Bank shall confirm each Drawdown Notice on the Drawdown Date on behalf of each Lender. 3.5 The Drawdown Notice issued and delivered by the Borrower is irrevocable. To the extent permitted hereunder, the Borrower is responsible to withdraw the funds according the Drawdown Notice, failing which the Borrower shall indemnify the Agent Bank and the Lenders the cost for financing actually incurred as requested. 3.6 Upon expiry of the Drawdown Period, the Borrower’s Available Loan shall be reduced to zero automatically.

Appears in 1 contract

Sources: Loan Facility Agreement (Calgon Carbon Corporation)

Drawdown. 3.1 Amounts that You may not borrow the Loan or any part of it until the Lender has received, in form and substance satisfactory to it the documents and evidence specified as Conditions Precedent to Availability of the Loan in the Key Terms. 3.2 You may only borrow any of the Loan if:- 3.2.1 the borrowing is to take place on a Business Day; 3.2.2 any Additional Conditions Precedent applicable to the amount to be borrowed as specified in the Key Terms have been drawn downsatisfied; 3.2.3 you have given the Lender 1 Business Day's written notice of your intention to borrow the Loan, if necessary stating the amount to be borrowed; 3.2.4 on each date on which you borrow all or part of the Loan, no Event of Default or Potential Event of Default has occurred or will occur as a result of the borrowing; 3.2.5 the amount that you wish to borrow, together with any previous drawings of the Loan, is no more than the Loan Amount; and 3.2.6 any Borrower that is an individual (1or a trustee) prior to execution has signed and dated the Declaration at the end of this Agreement, the Borrower has entered into a RMB Loan Agreement (No. 2009(1270)3) with China Construction Bank, Wanzhou Branch, pursuant to which a fixed asset loan of RMB400,000,000 was granted to the Borrower on January 21, 2009 for the purpose of construction of the Project. This shall be the first drawdown under this Agreement. (2) prior to execution of this Agreement, 3.3 You may borrow the Borrower has entered into a RMB Loan Agreement (No. 2009(1230)24) in accordance with China Construction Bank, Wanzhou Branch, pursuant to which a working capital loan of RMB100,000,000 was granted the drawdown profile specified in the Key Terms and during the period specified in relation to the Borrower on July 7, 2009 for the purpose of construction of the Project. This shall be the second drawdown under this Agreement. 3.2 Unless otherwise agreed upon herein, except for the first and second drawdown, the Borrower may only withdraw the loan upon satisfaction of the following conditions. Each Lender shall specify a planned Drawdown Date in the Drawdown Notice with respect to each Loan Fund, and each Loan Fund in RMB shall be advanced to a RMB account held by the Agent Bank. (1) The Agent Bank receives a Drawdown Notice issued by the Borrower in respect or any particular part of the Loan Fund concerned before11:00 am (Beijing time) in the section of the seventh Key Terms headed "Drawing Profile" (7 th) Business Day ahead the "Availability Period"). Any amount which has not been borrowed on or before the last day of the planned Drawdown Date, as well as the condition precedent documents specified under Annex 2; (2) Availability Period will be automatically cancelled and may no longer be borrowed. The planned Drawdown Date under the Drawdown Notice is a Business Day within the Drawdown Period; (3) The Agent Bank confirms the Drawdown Notice according to Article 3.3 hereof. 3.3 The Agent Bank shall, within two (2) Business Days after receipt period of a Drawdown Notice in respect of a Loan Fund, notify each Lender availability of the Loan Fund and their respective contribution in or any particular part of it may, at the form loan issuance notice of Annex 5Lender’s sole discretion, and shall provide without any notification, be extended during the duplicate of the Drawdown Notice and the condition precedent documents specified in Annex 2Availability Period. Each Lender shall examine all documents provided by the Agent Bank according Article 3.2 hereof; upon satisfaction of all other conditions under this Agreement, each Lender shall, within two (2) Business Days, serve confirmation letter on the Agent Bank in the form of Annex 9 for participation in granting the Loan Fund. 3.4 Upon the condition of the Agent Bank’s receipt of all Loan Funds from all Lenders, the Agent Bank shall confirm each Drawdown Notice on the Drawdown Date on behalf of each Lender. 3.5 The Drawdown Notice issued and delivered by the Borrower is irrevocable. To the extent permitted hereunder, the Borrower is responsible to withdraw the funds according the Drawdown Notice, failing which the Borrower shall indemnify the Agent Bank and the Lenders the cost for financing actually incurred as requested. 3.6 Upon expiry of the Drawdown Period, the Borrower’s Available Loan shall be reduced to zero automatically.32160870 SAL05284 Version 1.0 Online Standard Terms

Appears in 1 contract

Sources: Loan Agreement