Common use of Existing Bank Debt Clause in Contracts

Existing Bank Debt. Prior to or simultaneously with the Effective Date, the Borrower shall have fully repaid all Existing Bank Debt and all agreements with respect thereto shall have been, and the Borrower and each of the Lenders agree that all commitments to extend credit under such agreements are hereby, cancelled or terminated (other than provisions thereof which, by their terms, provide that they survive any such termination), all Liens, if any, securing the same shall have been terminated, and the Administrative Agent shall have received satisfactory evidence of all of the foregoing.

Existing Bank Debt. Prior to or simultaneously with the Effective making of the Loans on the first Borrowing Date, the Borrower shall have fully repaid all Existing Bank Debt and all agreements with respect thereto shall have been, and the Borrower and each of the Lenders agree that all commitments to extend credit under such agreements are hereby, been cancelled or terminated (other than provisions thereof which, by their terms, provide that they survive any such termination)terminated, all Liens, if any, securing the same shall have been terminated, and the Administrative Agent shall have received satisfactory evidence of all of the foregoingthereof.

Existing Bank Debt. Prior to or simultaneously with the Effective making of the Loans or the issuance of Letters of Credit on the first Borrowing Date, the Borrower shall have fully repaid all Existing Bank Debt and all agreements with respect thereto shall have been, and the Borrower and each of the Lenders agree that all commitments to extend credit under such agreements are hereby, been cancelled or terminated (other than provisions thereof which, by their terms, provide that they survive any such termination)terminated, all Liens, if any, securing the same shall have been terminated, and the Administrative Agent shall have received satisfactory evidence of all of the foregoingthereof.