Drawing conditions Sample Clauses

The "Drawing conditions" clause defines the specific requirements and procedures that must be met for a party to make a draw or request payment under a financial instrument, such as a letter of credit or loan agreement. Typically, this clause outlines the documentation, certifications, or events that must occur before funds can be accessed, such as submitting invoices, shipping documents, or proof of performance. By clearly specifying these prerequisites, the clause ensures that funds are only disbursed when agreed-upon conditions are satisfied, thereby protecting the interests of both parties and reducing the risk of improper or premature payments.
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Drawing conditions. Unless Lender waives partially or wholly, or Borrower conforms to the following conditions, Lender shall be entitled to reject the application of drawing from Borrower. 1.8.1 The Lender continues to be legal and valid, and abide by the promises hereto continually. 1.8.2 This contract has come into force and the guarantee contract hereof has also come into force legally. 1.8.3 The obligations hereof have been fully fulfilled without defaults. 1.8.4 Materials used to loan and others have been provided in accordance with the requirements of Lender.
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Drawing conditions. The loan under this Contract shall be withdrawn according to the actual use of the Borrower. The Borrower shall meet the following conditions at each withdrawal: 1) The Borrower shall submit a written loan disbursement application to the Lender; 2) The Borrower does not encounter the circumstances outlined in Paragraphs 4 and 5 of Article 5, or Article 8, and does not breach the covenants set forth in Article 7; 3) Upon the reasonable judgment of the Lender, there is no financial condition without any adverse change that may endanger, delay or prevent it from performing its obligations and responsibilities hereunder; 4) The Borrower shall use the withdrawn borrowed funds in accordance with the purposes agreed herein; 5) The guarantee shall remain valid, and the value of the security and / or the guarantee ability of the guarantor shall not have adverse changes that will affect the liability of the guarantor to assume the guarantee; 6) The Borrower has opened the relevant account as agreed herein or required by the Lender; 7) Other conditions required by the Lender are detailed in Paragraph 5 of Article 16 of this Contract.
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Drawing conditions. Unless Party B gives up fully or partially, Party B is only obliged to loan when the following conditions are met constantly: (1) Party A has completed the approval, registration, payment, insurance and other legal procedures in relation to the Contract; (2) If the Contract has guarantee, the guarantee which meets the requirements of Party B has taken effect and will be continuously effective; (3) Party A has opened drawing and repayment accounts in accordance with requirements of Party B; (4) Any default or situation stipulated in the Contract which may endanger the security of Party B’s obligatory rights doesn’t happen to Party A; (5) Laws and regulations, rules or authorized departments don’t prohibit nor limit the loan lent by Party B under the Contract; (6) The Borrower has submitted the resolution and certificate of authorization that the board of directors or other authorized departments agree to sign and fulfill to the Lender; (7) The declaration and promise of the Borrower are continuously effective; (8) Other drawing conditions stipulated by law and agreed by both parties: __________________________________________________________________________________________________________________________________
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Drawing conditions. The borrower shall meet the following conditions to apply for drawing: (1) The borrower shall have the qualification of applying for loans; its corresponding decision-making body or authorized agency has agreed to the loan resolution, and if required, have been approved by the competent department; (2) The borrower has completed the related guarantee formalities as required by the lender, and the guarantee is legitimate and effective; (3) The use of loan complies with laws and regulations, the loan contract and the corresponding business contract agreement; (4) The commitments made by the borrower at signing of the contract shall be still real and effective at the time of each drawing without the occurrence of significant or essential adverse changes and without the occurrence of other significant adverse situations that may affect the fulfillment of this contract; (5) Other agreements:
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Drawing conditions. Unless the lender abandons it in whole or in part, the borrower shall meet the following conditions before each withdrawal, otherwise the lender shall have the right to refuse the borrower’s application for withdrawal: 1.8.1 The subject of the Borrower shall continue to be legal and valid and continuously comply with its commitments under this Agreement; 1.8.2 This Agreement is effective and the Security Agreement hereunder is legally established and effective. 1.8.3 The Borrower has fully performed its obligations hereunder without any event of default agreed herein; 1.8.4 The borrower has provided other relevant materials for handling the loan as required by the lender.
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Drawing conditions. The following statements shall be true (and each of the giving of the applicable Notice of Borrowing or Notice of Continuation and the acceptance by Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by Borrower that on the date of such Borrowing such statements are true): (i) the representations and warranties of each Specified Party and each Loan Party set forth in this Agreement and in the other Loan Documents are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on and as of the date of such Borrowing, before and after giving effect to such Borrowing and to the application of the proceeds from such Borrowing, as though made on and as of such date (except in the case of representations and warranties which are made solely as of an earlier date or time, which representations and warranties shall be true and correct in all material respects as of such earlier date or time, except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof), (ii) no Default or Event of Default shall have occurred and be continuing or would result from such Borrowing and (iii) no Material Adverse Change shall have occurred or would result from such Borrowing or from the application of the proceeds thereof.
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Related to Drawing conditions

  • TEACHING CONDITIONS The parties recognize that optimum school facilities for both student and teacher are desirable to insure the high quality of education that is the goal of both the Association and the Board. It is also acknowledged that the primary duty and responsibility of the teacher is to teach and that the organization of the school and school day should be directed toward ensuring that the energy of the teacher is primarily utilized to this end.

  • WORKING CONDITIONS In order to effectively resolve workload issues, please provide details about the working conditions at the time of occurrence by providing the following information: Regular Staffing #: RN RPN PSW Clerks & Other Actual Staffing #: RN RPN PSW Clerks & Other Agency/Registry RN: Yes No And how many? Junior Staff*: Yes No And how many? RN RPN PSW Temp RNs RN Staff Overtime: Yes No If yes, how many staff? Total Hours: If there was a shortage of staff at the time of the occurrence, (including support staff) please check one or all of the following that apply: Absence/Emergency Leave Sick Call(s) Vacancies Management Support available on site? Yes No On Standby? Yes No On Call? Yes No Did they respond? Yes No Did they resolve the issue? Yes No Charge nurses (CN) are not held accountable for the actions of others, they are accountable for their actions in relation to others (“Nurse in Charge”, CNO Communique, Sept. 2002). Were you working in a Charge Nurse Leadership Role? Yes No i) Assigning: Could you assign staff according to their abilities? Yes No Did you have time to determine what staff was most likely to need your help? Yes No Did you have time to provide necessary support and supervision? Yes No

  • Qualifying Conditions In addition to any other compensation earned, any employee who is on the payroll of the Company on any of the foregoing recognized statutory holidays will be granted eight (8) hours' pay at the straight time rate of the employee's regular job, subject to compliance with all of the conditions (a) to (f) set forth below: (a) The employee must have been on the payroll for not less than the sixty (60) days just preceding the holiday and must have previously qualified for a statutory holiday as provided in (d) below, and (b) The employee must have worked at least one (1) day during the sixty (60)- day qualifying period just preceding the holiday, and (c) The employee must have worked their scheduled work day before, and their scheduled work day after, such holiday, unless failure to work their scheduled work day before or after the holiday was due to any of the following events: (i) When the employee is on their regular authorized paid vacation; (ii) When the employee is unable to work by reason of an industrial accident as recognized by the Workers' Compensation Board or non-occupational sickness or injury; (iii) When the operation in which the employee is engaged is curtailed or discontinued by the decision of the Company and which curtailment or discontinuance changes or eliminates the employee's scheduled work day before, or their scheduled work day after, such holiday; (iv) When a trade in shifts agreed upon between employees and approved in advance by the company results in a temporary change of the scheduled work day before, or the scheduled work day after, the holiday, provided the employee works the shift agreed upon; (v) When the employee is on a leave of absence authorized by the Company. (d) The employee who has been on the payroll for at least sixty (60) days but who has not previously qualified for a statutory holiday will qualify for the holiday if he has worked a minimum of one hundred eighty (180) hours during the sixty (60)- day qualifying period just preceding the holiday and meets the requirements of (b) and (c) above. (e) Time lost as the result of an accident as recognized by the Workers' Compensation Board, suffered during the course of employment, or time lost as a result of non-occupational sickness or injury shall be considered as time worked for the purpose of qualifying for a recognized paid holiday, it being understood that the employee will only be entitled to this credit for time while on Workers' Compensation or non-occupational sickness or injury for a period of up to but not exceeding one (1) year from the date of their sickness or injury. (f) It is understood and agreed, however, that an employee shall not receive the above provided holiday pay if they have agreed to work on such holiday and fails or refuses to work, except in the case where bona fide sickness, or other bona fide reason approved by the Company, prevents them working on such holiday.

  • Existing Conditions Tenant accepts the Property in its condition as of the execution of the Lease, subject to all recorded matters, laws, ordinances, and governmental regulations and orders. Except as provided herein, Tenant acknowledges that neither Landlord nor any agent of Landlord has made any representation as to the condition of the Property or the suitability of the Property for Tenant's intended use. Tenant represents and warrants that Tenant has made its own inspection of and inquiry regarding the condition of the Property and is not relying on any representations of Landlord or any Broker with respect thereto. If Landlord or Landlord's Broker has provided a Property Information Sheet or other Disclosure Statement regarding the Property, a copy is attached as an exhibit to the Lease.

  • Safe Conditions Whenever an employee reports a condition which the employee feels represents a violation of safety or health rules and regulations or which is an unreasonable hazard to persons or property, such conditions shall be promptly investigated. The appropriate administrator shall reply to the concern, in writing, if the employee's concern is communicated in writing.