Utilisation Request. (a) To utilise the Facility, the Borrower shall give to the Facility Agent a duly completed Utilisation Request: (i) in the case of the Initial Utilisation Request only, by no later than 12 p.m. (Doha time), on the day before the proposed Utilisation Date; and (ii) in the case of all other Utilisation Requests, by no later than 12 p.m. (Doha time), two (2) days before the proposed Utilisation Date. (b) Once given, a Utilisation Request will be irrevocable. (c) On the initial Utilisation Date specified in a duly completed Utilisation Request in respect of any Tranche, on or before the time that the proceeds of a Loan are to be transferred to the account of the Existing Lenders or any other third party as may be specified in the Utilisation Request, the Facility Agent shall, if requested by the Borrower, issue a payment undertaking to the Existing Lenders and/or any such third party in the form set out in Schedule 11 (Form of Payment Undertaking) together with an agreed form MT199 and MT103.
Appears in 3 contracts
Sources: Facility Agreement, Facility Agreement (Teekay Corp), Facility Agreement (Teekay LNG Partners L.P.)