Common use of Existing Loan Documents Clause in Contracts

Existing Loan Documents. The Agent shall have received (i) a payoff letter (in form and substance reasonable satisfactory to the Agent) with respect to the obligations under the Existing Loan Documents (other than the Existing Letters of Credit) which shall include an agreement or authorization by Chase to file uniform commercial code termination statements with respect to all financing statements filed naming Chase as secured party and naming as debtor either Borrower, a Guarantor or a trade name of the foregoing and (ii) a direction letter from Borrower to satisfy all such obligations with the first advance under this Agreement.