Drawdown Request (Borrower to Lender)
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
💴 Loan drawdown requestBusiness activity
Request loan drawdownA loan drawdown request is a request from a borrower to a lender for the release of funds from a loan facility. The request is usually made when the borrower is ready to begin using the loan facility. The loan drawdown request will typically cover the amount of the loan, the interest rate, the repayment schedule, and any other terms and conditions that have been agreed upon by the parties.
The template typically includes essential details such as the borrower's name, address, and contact information. It also specifies the lending institution's details, including their name and address. The document specifies the loan agreement under which the borrower is eligible to request the drawdown and often references the relevant clauses within the agreement.
The drawdown request highlights the amount requested by the borrower and describes the purpose for which the funds will be utilized. This information assists the lender in assessing the borrower's intentions and ensuring compliance with the terms and conditions of the loan agreement.
Furthermore, the template may mention any applicable interest rates or charges associated with the drawdown, as well as the proposed repayment plan or schedule. It may also include a provision for the borrower to certify that the requested funds will be used in accordance with the agreed-upon terms and for the intended purpose.
Overall, this legal template streamlines the process of requesting a drawdown from a lender in the United Kingdom, providing a clear framework for borrowers and lenders to document their transaction and ensuring transparency and compliance with UK law.
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