This Drawdown Notice is a notice or request from the borrower to the lender under a loan arrangement that the borrower wishes to drawdown funds under the loan facility. The notice will include all the mechanical details in order for the loan to be made, including the date of drawdown and the account where the funds should be deposited.
The drawdown request is usually given by the Lender in a standardised format, and an example of which is usually attached to the loan agreement as a schedule.
While the loan agreement makes the loan available from the Lender to the Borrower; a drawdown notice, or request establishes a clear mechanism between both parties for requesting when the loan is to be advanced.
Jurisdiction
This document is intended for use in the United Arab Emirates.
Before Execution
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