Common use of Closing Date Refinancing Clause in Contracts

Closing Date Refinancing. Prior to or substantially concurrently with the initial funding of the Loans on the Closing Date, the Closing Date Refinancing shall be consummated and the Administrative Agents shall have received evidence of the release of all Liens granted in connection with the Existing Credit Agreement, with UCC (or similar) termination statements and documents effective to evidence the foregoing.