This offer will be available to the Borrower for acceptance until [ ] from the date of this Facility Letter, after which date the offer will lapse [unless extended in writing by the Bank].
A bank may attach certain conditions to the time-frame within which a borrower may actually draw down the facility. This caters for circumstances in which both the bank and the borrower might sign the agreement but where the borrower does not require the Facility monies on day one of the facility letter. Therefore, for the sake of certainty for both bank and borrower this clause specifies the period during which the facility will be available.
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