draw

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draw

(1) A request that a lender advance funds under a construction or other future-advances loan.

(2) A periodic request by a contractor or subcontractor for a portion of the contract price for a job, usually according to the percentage of completion of the work and the cost of materials and labor.

References in periodicals archive ?
On February 19, 2010, Aerosonic also borrowed an aggregate principal amount of $600,000 upon a cash draw down under the Loan Agreements, as amended.
The project explores Microgrids to leverage new technologies to either draw down power costs or even become self-sufficient.
M2 EQUITYBITES-October 14, 2015-CareView reports draw down of USD20m under credit agreement with PDL BioPharma
Even NHS Trusts in Wales could draw down investment on an individual basis or collectively through NHS Confederation Wales.
Little Joe Industries offers the ADM Automatic Draw Down Machine for use with grind gages.
So with our new flexible deal we were able to draw down pounds 12,500 on the equity for a deposit on the flat and pounds 5,000 to do it up and furnish it.
The owner must have the right to immediately draw down the LC if not timely renewed well in advance of its scheduled expiration.