Debt to be Repaid. The Debt to be Repaid has been (or concurrently with the initial borrowing will be) paid in full.
Debt to be Repaid. Administrative Agent has received evidence, reasonably satisfactory to Administrative Agent, that all Debt to be Repaid has been (or concurrently with the initial borrowing will be) paid in full and that all agreements and instruments governing the Debt to be Repaid and that all Liens securing the Debt to be Repaid have been (or concurrently with the initial borrowing will be) terminated. Administrative Agent has received payoff letters evidencing repayment in full of all Debt to be Repaid, the termination of all agreements relating thereto, and the release of all Liens granted in connection therewith, with Uniform Commercial Code or other appropriate termination statements and documents effective to evidence the foregoing.
Debt to be Repaid. Evidence that all Debt to be Repaid has been (or concurrently with the initial borrowing will be) paid in full, and that all agreements and instruments governing the Debt to be (or concurrently with the initial borrowing will be) terminated.
Debt to be Repaid. Administrative Agent has received evidence, satisfactory to Administrative Agent in its discretion, that (x) all Debt to be Repaid has been (or concurrently with the initial borrowing will be) paid in full and that all agreements and instruments governing the Debt to be Repaid and that all Liens securing the Debt to be Repaid have been (or concurrently with the initial borrowing will be) terminated and (y) none of the of the Loan Parties or their Subsidiaries are obligated on any Debt to any shareholder of any Holdings Company.
Debt to be Repaid. All Debt to Be Repaid set forth on Schedule 5.1(p) shall have been repaid in a manner satisfactory to the Agents and the Lenders.
Debt to be Repaid. All Debt to be Repaid have each been (or concurrently with the initial borrowing will be) paid in full, and that all agreements and instruments governing the Debt to be Repaid and that all Liens securing such Debt to be Repaid have been (or concurrently with the initial borrowing will be) terminated.
Debt to be Repaid. 1. Credit Agreement dated as of January 2, 2007 among KapStone Kraft Paper Corporation, the Lenders identified therein and LaSalle Bank National Association, as Administrative Agent.(1)
Debt to be Repaid. Advances to the company from Xxxxxx X. Xxxxx: $59,230.00 On July 17, 2015, the Company entered into an equipment purchase agreement (the “Purchase Agreement”) with Fordham Capital Partners, LLC (“Fordham”) pursuant to which the Company sold all of its right, title and interest in production equipment utilized by the Company to Fordham for a purchase price of $514,707. From the proceeds of the sale, the Company repaid outstanding borrowings of $200,000 due to Fordham Capital plus accrued interest of $3,112, franchise taxes of $96,542 and a security deposit of $15,800 related to the equipment lease. The Company recognized a loss on the sale of $574,331. Concurrently with entering into the Purchase Agreement, on July 17, 2015, the Company entered into an equipment lease agreement (the “Equipment Lease Agreement”) with Fordham pursuant to which the Company leased the production equipment from Fordham on terms that included the following: a lease term of 24 months, monthly lease payments by the Company of $15,800 and the option (at the election of the Company) to purchase the equipment on or after July 8, 2016 on the following terms: (i) if the purchase date is between 12- 18 months $425,000; (ii) if the purchase date is between 19- 23 months: $360,000; and (iii) if the purchase date is during the 24th month (but no later than July 8, 2017): $325,000. The Equipment Lease Agreement includes customary events of default, including non- payment by the Company of the monthly lease payments and the payment of penalties upon such late payments. The equipment lease is secured by all of the assets of the Company. The Company received cash proceeds of $172,911 from the Purchase Agreement after paying off the obligations described above. These proceeds were used for general corporate purposes. Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission. Schedule 4.1 Commercial Tort Claims None Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission. Schedule 4.2(A) Certificate of Title Goods None Portions herein identified by [*****] have bee...
Debt to be Repaid. Substantially concurrent with the funding of the Term A Loans on the Closing Date, Holdings shall have caused the Debt to be Repaid to have repaid in full (or have caused to be repaid) and provided to the Administrative Agent evidence of such repayment and the release of any guarantees and/or liens granted in connection therewith.
Debt to be Repaid. Concurrently with the consummation of the Merger, all pre-existing indebtedness of the Target required to be repaid under the Merger Agreement at or upon the consummation of the Merger shall be repaid in full, all commitments relating thereto shall have been terminated and suitable commitments to release all liens or security interests related thereto shall have been obtained terminated or released.
