DISCHARGE OF INDEBTEDNESS AND LIENS. Seller and the Company ----------------------------------- shall have provided for the payment in full by the Company of all Funded Indebtedness of the Company (other than Assumed Funded Indebtedness) and all extended credit from vendors at the Closing (other than customary accounts payable outstanding on 90 day or less payment terms in accordance with past practices). Such Funded Indebtedness, if any, as of August 31, 1997, is listed on Schedule 7.1(d) hereto. Seller shall have also provided for the termination --------------- of all Encumbrances of record on the properties of the Company, except for Permitted Exceptions. All liens or UCC filings against the Company and each of the Subsidiaries or Affiliates of the Company which engaged in the Business, shall have been terminated as of the Closing.
DISCHARGE OF INDEBTEDNESS AND LIENS. The Sellers and the ----------------------------------- Company shall have provided for the payment in full by the Company of all Funded Indebtedness of the Company. Such Funded Indebtedness, if any, as of December 31, 1998, is listed on Schedule 7.1(d) hereto. The Sellers shall have also --------------- provided for the termination of all Encumbrances of record on the properties of the Company, except for Permitted Exceptions. All liens or UCC filings against the Company and each of the Subsidiaries or Affiliates of the Company which engaged in the Business other than Permitted Exceptions shall have been terminated as of the Closing.
DISCHARGE OF INDEBTEDNESS AND LIENS. There being no Funded Indebtedness (other than capital leases) to retire, Millxx xxx the Company shall have provided for the payment in full by the Company of all extended credit from vendors at the Closing (other than customary accounts payable outstanding on 90 day or less payment terms in accordance with past practices). Millxx xxxll have also provided for the termination of all Encumbrances of record on the properties of the Company, except for Permitted Exceptions. All liens or UCC filings against the Purchased Assets shall have been terminated as of the Closing, except for liens securing capital leases.
DISCHARGE OF INDEBTEDNESS AND LIENS. Sellers and the ----------------------------------- Companies shall have provided for the payment in full of all Funded Indebtedness of the Companies and all extended credit from vendors at the Closing (other than customary accounts payable of the Companies in accordance with past practices). Such Funded Indebtedness as of May 31, 1996, is listed on Schedule 7.1(d) --------------- hereto. Sellers shall have also provided for the termination of all Encumbrances of record on the properties of the Companies, except for Permitted Encumbrances. Also, prior to the Closing, Xxxxx X. Xxxxx shall take title to the Mercedes, the Xxxx Deere Tractor, the Toyota Camary and the Chevrolet Suburban, and Xxxxx X. Xxxxx shall assume all vehicle loans totaling approximately $22,000, for which he will pay Copy Service $9,000. In addition, the following indebtedness shall be paid at closing, and all security interests thereon shall be released as of the Closing:
(i) the $355,000 shareholder note of Xxxxx X. Xxxxx; and
(ii) the $83,000 note owed by Xxxxx X. Xxxxx in connection with the transfer to him of the Danka stock.
DISCHARGE OF INDEBTEDNESS AND LIENS. Seller and the Company shall have provided for the payment in full by the Company of all Funded Indebtedness of the Company and all extended credit from vendors at the Closing (other than customary accounts payable outstanding on 90 day or less payment terms in accordance with past practices). Such Funded Indebtedness, if any, as of August 31, 1997, is listed on Schedule 7.1(d) hereto. Seller shall have also provided for the termination of all Encumbrances of record on the properties of the Company, except for Permitted Exceptions. All liens or UCC filings against the Company and each of the Subsidiaries or Affiliates of the Company which engaged in the Business, shall have been terminated as of the Closing.
DISCHARGE OF INDEBTEDNESS AND LIENS. The Sellers and the ----------------------------------- Company shall have provided for the payment in full by the Company of all Funded Indebtedness of the Company, if any, that is not Permitted Funded Indebtedness. The Sellers shall have also provided for the termination of all Encumbrances of record on the properties of the Company, except for Permitted Exceptions. All liens or UCC filings against the Company other than Permitted Exceptions shall have been terminated as of the Closing.
DISCHARGE OF INDEBTEDNESS AND LIENS. The Company shall have provided for the payment in full by the Company of all Funded Indebtedness (other than capital lease obligations set forth in Exhibit J) of the Company and all extended credit from vendors at the Closing (other than customary accounts payable outstanding on 90 day or less payment terms in accordance with past practices). Such Funded Indebtedness, if any, as of December 31, 1997, is listed on the Financial Statements. Sellers shall have also provided for the termination of all Encumbrances of record on the properties of the Company, except for Permitted Exceptions. All liens or UCC filings against the Company or Affiliates of the Company which are engaged in the Business, shall have been terminated as of the Closing.
DISCHARGE OF INDEBTEDNESS AND LIENS. The Seller and the Company shall have provided for the payment in full by the Company of all Funded Indebtedness of the Company and all extended credit from vendors at the Closing (other than customary accounts payable outstanding on 90 day or less payment terms in accordance with past practices). Such Funded Indebtedness, if any, as of December 31, 1997, is listed on Exhibit P hereto. The Seller shall have also provided for the termination of all Encumbrances of record on the properties of the Company, except for Permitted Exceptions. Except for those items set forth in Section 7.1(d) of the Disclosure Schedule, all liens or UCC filings against the Company shall have been terminated as of the Closing.
DISCHARGE OF INDEBTEDNESS AND LIENS. The Company shall have ----------------------------------- provided for the payment in full of all Funded Indebtedness of the Company at the Closing or the Purchase Price will be reduced proportionately by the amount that such Funded Indebtedness exceeds $0 as of the Closing Date. Such Funded Indebtedness, if any, as of December 31, 1999, is listed on Schedule 7.1(d) --------------- hereto. The Company shall have also provided for the termination of all Encumbrances of record on the properties of the Company or the Business, except for Permitted Exceptions. All liens or UCC filings against the Company shall have been terminated as of the Closing, except for those relating to Permitted Exceptions.
DISCHARGE OF INDEBTEDNESS AND LIENS. The amount contemplated by the parties to be applied to Bank Indebtedness as provided in Section 1.7(d) shall be sufficient to repay all of Holdings' and Elgar's Bank Indebtedness on the Closing Date; and the termination of all Liens with respect to such Bank Indebtedness shall have been provided for.
