where the provisions of a loan agreement provide for the amount of the loan to be advanced in tranches (rather than as one single advance) the process through which this is achieved is drawdown, with the relevant provisions governing the process known as drawdown clauses.
Collins dictionary of law. W. J. Stewart. 2001.
The date at which the funds under a loan facility will be available for use by the borrower.+ The making of a loan to the borrower by the lender under a loan facility agreement.+ drawdownUSAThe date at which the funds under a loan facility will be available for the borrower's use. Drawdown may also mean the act of borrowing under a loan agreement on a particular day.Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Look at other dictionaries:
Drawdown — has four distinct meanings: Drawdown (hydrology), a lowering of a reservoir or a change in hydraulic head in an aquifer, typically due to pumping a well. Drawdown (economics), decline in the value of an investment, below its all time high.… … Wikipedia
drawdown — of troops, by 1991, in reference to the end of the Cold War; from DRAW (Cf. draw) (v.) + DOWN (Cf. down) (adv.). Earlier of wells (c.1900) … Etymology dictionary
drawdown — [drô′doun΄] n. 1. a lowering of the water level of a well, reservoir, etc., as in supplying industry with water 2. a reduction or depletion … English World dictionary
drawdown — The worst percentage cumulative loss (from peak to valley) for an investment in the managed futures industry is known as a drawdown. The CENTER ONLINE Futures Glossary The state in which the borrower obtains some of the project financing, usually … Financial and business terms
Drawdown — The peak to trough decline during a specific record period of an investment, fund or commodity. A drawdown is usually quoted as the percentage between the peak and the trough. A drawdown is measured from the time a retrenchment begins to when a… … Investment dictionary
drawdown — UK [ˈdrɔːˌdaʊn] / US [ˈdrɔˌdaʊn] noun [countable] Word forms drawdown : singular drawdown plural drawdowns 1) the removal of some soldiers from an area where there has been fighting 2) a reduction in the value of an investment … English dictionary
drawdown — /draw down /, n. 1. a lowering of water surface level, as in a well. 2. a reduction or depletion: a drawdown of weapons in an arms limitation plan. [1780 90, for literal sense; DRAW + DOWN1] * * * … Universalium
drawdown — 1) The drawing of funds against a credit line See also flexible drawdown 2) The movement of a customer s funds from one account to another account, which may be in another bank … Big dictionary of business and management
drawdown — /ˈdrɔdaʊn/ (say drawdown) noun 1. Finance the decline, measured from peak to trough, of an investment, fund or commodity. 2. Banking the accessing of funds provided under a borrowing facility. 3. Botany the water or nutrients taken in by the… … Australian English dictionary
drawdown — noun Date: 1918 1. a lowering of a water level (as in a reservoir) 2. a. the process of depleting b. reduction … New Collegiate Dictionary