Common use of Indebtedness and Transaction Expenses Clause in Contracts

Indebtedness and Transaction Expenses. At Closing, the Purchaser shall also make the following payments: (a) The Purchaser will advance, or cause to be advanced, to each member of the Group, an amount equal to the Estimated Closing Indebtedness payable by such member of the Group to each Paid-Out Creditor thereof (which amount shall be the amount set forth in the applicable Pay-Out Letter) and such advanced amount will be paid to each Paid-Out Creditor in immediately available funds, as directed by each Paid-Out Creditor in the applicable Pay-Out Letter; and (b) The Purchaser will advance, or cause to be advanced, to each member of the Group, an amount equal to the Estimated Closing Transaction Expenses payable by such member of the Group. The Corporation shall pay, or cause to be paid, to the relevant Persons the Estimated Closing Transaction Expenses.