Common use of Consummation of PCC Acquisition Clause in Contracts

Consummation of PCC Acquisition. Concurrently with the making of the initial Loans, (i) the Parent shall have purchased pursuant to the PCC Acquisition Documents (no provision of which shall have been amended or otherwise modified or waived in a manner adverse to the interests of the Agents and the Lenders without the prior written consent of the Agents), and shall have become the owner, free and clear of all Liens other than Permitted Liens, of all of the PCC Acquisition Assets and (ii) the proceeds of the initial Loans shall have been applied to pay the Purchase Price payable pursuant to the PCC Acquisition Documents for the PCC Acquisition Assets and the closing and other costs relating thereto.