Finance Deals & Syndicated Lending · glossary
Taking the money. The borrower sends a Utilisation Request, the lenders check the conditions, and each lender pays its share through the Agent. Utilisation is the drafting word, and drawdown is what people say. Definition: Utilisation · Chapter 7
Explained in Chapter 7, Utilisation and Repayment, of Finance Deals & Syndicated Lending.
Signing the Sunrise agreement gave Atlas Commitments, the lenders' binding promises to lend. It did not give Atlas any money. To get money, the borrower sends the agent a Utilisation Request, a one-page notice asking for a Loan. The market calls this a drawdown.Read Chapter 7, Utilisation and Repayment →
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a utilisation of a Facility by way of a Loan, and “Utilisation Request” means a notice substantially in the form set out in Schedule 3;Read the definition in the document →
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