09:46 Feb 7, 2018 |
English language (monolingual) [PRO] Bus/Financial - Law: Contract(s) / Term loan agreement | |||||||
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| Selected response from: Yvonne Gallagher Ireland Local time: 21:56 | ||||||
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SUMMARY OF ALL EXPLANATIONS PROVIDED | ||||
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4 | (all the contractual documents related to) drawdown |
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3 | the loan agreement |
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Discussion entries: 1 | |
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drawdown (in this particular context) the loan agreement Explanation: I think it indirectly refers to the loan agreement under which drawdowns are to be made. See "conditions precedent" in the link below: "If the loan is uncommitted then, even after signing the loan agreement, the lender can decide (in its absolute discretion) whether or not to lend the money to the borrower. If the loan is committed then, once the loan agreement has been signed by both parties, in theory the lender must lend the Principal to the borrower. However, in practice, the lender will usually protect itself by insisting that various conditions are inserted in the loan agreement and only once these conditions have been satisfied does it have to advance the Principal. The conditions are known as conditions precedent, as the lender will only advance the Principal once they have been satisfied." https://legalvision.com.au/part-1-key-clauses-loan-agreement... |
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drawdown (all the contractual documents related to) drawdown Explanation: I don't really see why you think it has to refer to a particular document other than the contract? Surely this wording refers to the drawdown contract itself (note the lack of an article), i.e. what may happen or take place during the whole procedure and period of drawdown? ... provided they have been agreed (already) in Drawdown=as long as it has been agreed they can take place during the drawdown procedure/period or as long as they have been agreed in all the (contractual) documents related to drawdown... So, these expenses shall be borne by the borrowers, IF such has already been agreed in the drawdown contract. But why is it THE technical adviser, surely it should be "A". Is there really only one technical adviser? https://www.investopedia.com/ask/answers/041415/what-differe... -------------------------------------------------- Note added at 5 hrs (2018-02-07 15:16:43 GMT) -------------------------------------------------- I think you misunderstood. I didn't say it wasn't a document? Because it has NO article I believe it can't be referring to the actual drawdown itself. That would be written as: "in THE Drawdown " OR "at the time of THE Drawdown" (and would be referring to the Drawdown Notice being effected). Your heading says "term loan agreement". I don't understand why you don't have all the clauses and appendices in front of you? I think you are over complicating this. Is the Agent working for the borrowers or the lenders? The financing facility/bank should have their own technical/legal advisor. But I'm sure it's already defined in a clause. (BTW I've translated quite a few of these contracts...) -------------------------------------------------- Note added at 1 day 4 hrs (2018-02-08 14:00:59 GMT) Post-grading -------------------------------------------------- glad to have helped |
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