Common use of Utilisation of the Facility Clause in Contracts

Utilisation of the Facility. The Facility shall be advanced by the Lender to the Borrower in one advance (the “Advance”) (the principal amount owing in respect of the Advance is hereinafter called: the “Loan”) following receipt by the Lender of a written notice from the Borrower in form and substance reasonably satisfactory to the Lender (the “Utilisation Request”). Subject to the conditions set out in clause 8, the Borrower may serve the Utilisation Request not later than three (3) banking days prior to the intended date on which the Borrower requests that the Advance to be made available, or on any shorter period as may be agreed by the Lender (the “Drawdown Date”). The Utilisation Request must be signed by an authorised representative of the Borrower and once served, the Utilisation Request cannot be revoked without the prior written consent of the Lender.

Utilisation of the Facility. The Facility shall be advanced by the Lender to the Borrower in one advance (the “Advance”) (the principal amount owing in respect of the Advance is hereinafter called: the “Loan”) following receipt by the Lender of a written notice from the Borrower in form and substance reasonably satisfactory to the Lender (the “Utilisation Request”). Subject to the conditions set out in clause 8, the Borrower may serve the Utilisation Request not later than three (3) banking days prior to on the intended date on which the Borrower requests that the Advance to be made available, or on any shorter period as may be agreed by the Lender (the “Drawdown Date”). The Utilisation Request must be signed by an authorised representative of the Borrower and once served, the Utilisation Request cannot be revoked without the prior written consent of the Lender.