Common use of Closing Date Acquisition Clause in Contracts

Closing Date Acquisition. All conditions to the consummation and effectiveness of the Closing Date Acquisition (other than the payment of the purchase price) shall have been met. Furthermore, the Administrative Agent shall have received (i) payoff letters, if any, in form and substance reasonably satisfactory to the Administrative Agent covering all Debt secured by liens that encumber any of the Properties being purchased by the Borrower under the Closing Date Acquisition and (ii) UCC financing statement terminations, deed of trust and mortgage lien releases and other evidence reasonably required by the Administrative Agent indicating that all liens encumbering the Acquisition Assets to be acquired by the Borrower and its Subsidiaries have been terminated or released.