Common use of Existing Indebtedness of the Loan Parties Clause in Contracts

Existing Indebtedness of the Loan Parties. The Administrative Agent shall have received a customary payoff letter with respect to, and evidence (reasonably satisfactory to the Administrative Agent) that, all Indebtedness of the Borrower and its Restricted Subsidiaries under the Existing Credit Agreement shall be repaid in full and all security interests related thereto shall be terminated on or prior to the Closing Date and the Administrative Agent.

Existing Indebtedness of the Loan Parties. The Administrative Agent shall have received a customary payoff letter with respect to, and evidence (reasonably satisfactory to the Administrative Agent) that, all Indebtedness of the Borrower Company and its Restricted Subsidiaries under the Existing Credit Agreement shall be repaid in full and all security interests related thereto shall be terminated on substantially concurrently with, or prior to to, the Closing Date and the Administrative AgentDate.

Existing Indebtedness of the Loan Parties. The Administrative Agent shall have received a customary payoff letter with respect to, and evidence (reasonably satisfactory to the Administrative Agent) that, specifying that all Indebtedness of the Borrower Company and its Restricted Subsidiaries under the Existing Credit Agreement (other than (i) contingent indemnification and contingent expense reimbursement obligations for which no claim has been asserted, and (ii) any Existing Letters of Credit) shall be repaid in full and all security interests commitments and guarantees related thereto shall be terminated on substantially concurrently with, or prior to to, the Closing Date and the Administrative AgentDate.