Request for the Advance. Subject to the following conditions, the Borrowers may request the Advance to be made by delivering to the Facility Agent a completed Drawdown Notice not later than 11:00 a.m. (New York time) three (3) Business Days prior to the Expected Drawdown Date thereof. The Facility Agent shall promptly notify the Lenders that it has received a Drawdown Notice and shall inform each Lender of: (a) the amount of and the Expected Drawdown Date for the Advance; (b) the amount of each Lender’s Ratable Portion of the Advance; and (c) the duration of the first Interest Period applicable to the Advance.
Appears in 2 contracts
Sources: Loan Agreement (TBS International LTD), Loan Agreement (TBS International LTD)