Common use of Company Credit Facility Clause in Contracts

Company Credit Facility. At Parent’s written request at least ten (10) days prior to the Effective Time and at Parent’s sole expense, the Company shall terminate the Company Credit Facility as of the Effective Time, and shall use its commercially reasonable efforts to obtain at the Effective Time a customary payoff letter from the agent under the Company Credit Facility in form and substance reasonably satisfactory to the Company and Parent with respect thereto, which includes the release of any and all Liens granted in connection with the Company Credit Facility and an agreement of the agent to cooperate to withdraw any all filings and other perfection instruments related to the Company Credit Facility.

Appears in 2 contracts

Samples: Merger Agreement (Baxalta Inc), Merger Agreement

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Company Credit Facility. At Parent’s written request delivered at least ten (10) days prior to the Effective Time and at Parent’s sole expense, the Company shall terminate the Company Credit Facility as of the Effective Time, and shall use its commercially reasonable best efforts to obtain at the Effective Time a customary payoff letter from the agent under the Company Credit Facility in form and substance reasonably satisfactory to the Company and Parent with respect thereto, which includes the release of any and all Liens granted in connection with the Company Credit Facility and an agreement of the agent to cooperate to withdraw any and all filings and other perfection instruments related to the Company Credit Facility.

Appears in 1 contract

Samples: Merger Agreement (Xplore Technologies Corp)

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Company Credit Facility. At Parent’s 's written request at least ten (10) days prior to the Effective Time and at Parent’s 's sole expense, the Company shall terminate the Company Credit Facility as of the Effective Time, and shall use its commercially reasonable efforts to obtain at the Effective Time a customary payoff letter from the agent under the Company Credit Facility in form and substance reasonably satisfactory to the Company and Parent with respect thereto, which includes the release of any and all Liens granted in connection with the Company Credit Facility and an agreement of the agent to cooperate to withdraw any all filings and other perfection instruments related to the Company Credit Facility.

Appears in 1 contract

Samples: Merger Agreement (Shire PLC)

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