Timing of Drawdown Notices; Use of Drawdowns Sample Clauses

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Timing of Drawdown Notices; Use of Drawdowns. The Adviser shall provide each Common Unitholder with a notice of each drawdown of Capital Commitments (a “Drawdown Notice”) at least ten (10) Business Days prior to the date on which such Drawdown Purchase is due and payable (the “Drawdown Date”). The delivery of a Drawdown Notice to the Common Unitholder shall be the sole and exclusive condition to the Common Unitholder’s obligation to pay the Drawdown Purchase Price identified in each Drawdown Notice.
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Timing of Drawdown Notices; Use of Drawdowns. The General Partner shall provide each Partner with a notice of each Drawdown (a “Drawdown Notice”) at least 10 Business Days prior to the date on which such Drawdown is due and payable (the “Drawdown Date”), provided that in the case of a Drawdown in connection with a Closing, the General Partner may provide a Drawdown Notice as few as five days prior to the Drawdown Date. Each Drawdown shall be used to make Portfolio Investments by the Fund or shall be applied to (i) the payment of Organizational Expenses or Fund Expenses or (ii) the repayment of Indebtedness. If participation by Benefit Plan Investors is “significant” as determined under the DOL Regulations or if the General Partner otherwise so determines, then (notwithstanding Section 5.1) no Capital Contribution shall be made to the Fund by a Benefit Plan Investor until the Fund makes a Portfolio Investment that qualifies the Fund as a VCOC. In such event, prior to the time when the Fund first qualifies as a VCOC, any Capital Contributions of Benefit Plan Investors (and, if determined by the General Partner, other Partners) required by any Drawdown Notice shall be deferred or contributed to an escrow fund established by the General Partner, which escrow fund is intended to comply with Department of Labor Advisory Opinion 95-04A (and, upon the release of such Capital Contributions to consummate a Portfolio Investment, all short-term investment income earned thereon shall be either returned to the Partners in the same proportion as the Partners made such Capital Contributions or paid to the Fund on behalf of the applicable Partners as Capital Contributions).
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Timing of Drawdown Notices; Use of Drawdowns. The B Manager shall provide the Class A Members with a notice of each Drawdown (a “Drawdown Notice”) at least 10 Business Days prior to the date on which such Drawdown is due and payable to the Company (the “Funding Date”).
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Related to Timing of Drawdown Notices; Use of Drawdowns

  • Drawdown Notice At any time during the Commitment Period, the Company may request the Investor to purchase shares of Common Stock by delivering a Drawdown Notice to the Investor, subject to the conditions set forth in Section 7.2; provided, however, the amount for each Advance as designated by the Company in the applicable Drawdown Notice shall not be more than the Maximum Advance Amount and the aggregate amount of the Advances pursuant to this Agreement shall not exceed the Commitment Amount. The Company acknowledges that the Investor may sell shares of the Company’s Common Stock corresponding with a particular Drawdown Notice after the Drawdown Notice is received by the Investor. There shall be a minimum of five (5) Trading Days between each Drawdown Notice Date.

  • Drawdown Subject to the terms and conditions of this Agreement, each Advance shall be made to the Borrowers following receipt by the Agent from the Borrowers of a Drawdown Notice not later than 10:00 a.m. on the third Banking Day before the date, which shall be a Banking Day falling within the Drawdown Period for such Advance, on which the Borrowers propose such Advance is made. A Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.6.1, be irrevocable.

  • Suspension of drawdown If the Agent’s notice under Clause 6.5 is served before the Loan is made: (a) in a case falling within Clauses 6.5(a) or 6.5(b), the Lenders’ obligations to make the Loan; (b) in a case falling within Clause 6.5(c), the Affected Lender’s obligation to participate in the Loan; shall be suspended while the circumstances referred to in the Agent’s notice continue.

  • Conditions Precedent to Each Borrowing The obligation of each Bank to make an Advance on the occasion of each Borrowing to any Borrower (including the initial Borrowing) shall be subject to the further conditions precedent that on the date of such Borrowing: (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by a Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by such Borrower that on the date of such Borrowing such statements are true): (i) The representations and warranties contained in Section 4.01 (excluding those contained in the second sentence of subsection (e) and in subsection (f) thereof), and if such Borrowing is by CFSC, CIF or CFKK, Section 4.02, are correct on and as of the date of such Borrowing, before and after giving effect to such Borrowing and to the application of the proceeds therefrom, as though made on and as of such date, and (ii) No event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom, which constitutes an Event of Default with respect to any Borrower; and (b) the Agent shall have received such other approvals, opinions or documents as any Bank through the Agent may reasonably request.

  • Conditions Precedent to Disbursement Agency’s obligation to disburse Grant Funds to Grantee under this Grant is subject to satisfaction of each of the following conditions precedent: 7.2.1 Agency has received sufficient funding, appropriations, expenditure limitation, allotments or other necessary expenditure authorizations to allow Agency, in the exercise of its reasonable administrative discretion, to make the disbursement from the Funding Source; 7.2.2 No default as described in Section 15 has occurred; and 7.2.3 Grantee’s representations and warranties set forth in Section 8 are true and correct on the date of disbursement(s) with the same effect as though made on the date of disbursement.