Hi,
The drawbar uses a spring, usually made of bellevile washers, and pulls the pullstud gripper to retain the tool holder in the spindle. The drawbar and gripper assembly spin together with the spindle.
The power transfer is made via the spindle dogs which engage the toolholder notches. The spindle taper assures tool concentricity to the spindle.
To release the tool the draw bar is pushed down. It is not wise to release the tool while the spindle is running. Just my 0.02$
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