Payment of Bank Debt. At the Closing, Purchaser will cause (i) the Surviving Corporation to pay all amounts then due and payable pursuant to that certain Amended and Restated Credit Agreement, dated as of October 31, 2002 among the Company, as Borrower, the Lenders listed therein, as Lenders, Canadian Imperial Bank of Commerce, as Administrative Agent, and CIBC World Markets Corp., as Lead Arranger, and the other parties named therein (the "CREDIT AGREEMENT") and the Loan Documents (as defined in the Credit Agreement) and (ii) the Credit Agreement to be terminated.
Payment of Bank Debt. At the Closing, Parent will cause (i) the Surviving Corporation to pay all amounts then due and payable pursuant to that Amended and Restated Credit Agreement, dated as of January 27, 2005 among the Company, as the Borrower, Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, and the Other Lenders Party Thereto, (the "Credit Agreement") and the Loan Documents (as defined in the Credit Agreement) and (ii) the Credit Agreement to be terminated.
Payment of Bank Debt. In addition to the payment of the Merger Consideration pursuant to Article II hereof, at Closing, Parent shall, by wire transfer, pay or cause the Company to repay the outstanding balance of the Crestar Loan as of the opening of business on the Closing Date.
Payment of Bank Debt. Immediately prior to the Closing, VENA shall cause Company and any of the Subsidiaries to pay off in total all principal, interest and other amounts due and owing as of the Closing Date with respect to debt owed to banks or other financial institutions, such that, as of the Closing, no amount shall be owed by Company or any of the Subsidiaries with respect thereto and no other indebtedness or liability shall be incurred by Company or any of the Subsidiaries in connection with such repayment. VENA may make cash contributions to Company to the extent necessary to consummate such repayment.
Payment of Bank Debt. Purchaser shall pay off all amounts due and owing to each of the banks in the amounts listed on Section 2.09(c) of the Disclosure Schedule as updated on the Closing Date, provided that all increases to Indebtedness and new Indebtedness incurred after September 30, 2001 have been incurred in the Ordinary Course of Business for Business purposes of the Companies.
Payment of Bank Debt. Purchaser hereby covenants and agrees to -------------------- assume all indebtedness of the Company under the credit facilities listed on Schedule 3.06 hereto (and all additional indebtedness under such facilities ------------- incurred by the Company in the ordinary course of business subsequent to the Closing Date) and to extinguish the personal guarantees of the credit facilities listed on Schedule 3.06 made by Xxxxxxx Xxxx and Xxxxxx Xxxxx. -------------
Payment of Bank Debt. Subject to the Closing and upon the terms and conditions of this Agreement, and subject to receipt from each holder of Bank Debt of a Bank Payoff Letter, Acquiror shall pay, or cause to be paid, to each holder of Bank Debt, at the Closing, by wire transfer of immediately available funds to an account designated by such holder of Bank Debt in the applicable Bank Payoff Letter, such holder’s Bank Debt, as specified in the Spreadsheet, which shall be in full satisfaction of such holder’s Bank Debt.
Payment of Bank Debt. The Purchaser shall have received a pay-out letter in respect of the Bank Debt as of the Closing Date from the applicable lender or lenders addressed to the Corporation and any applicable Subsidiaries and the Purchaser. The Corporation shall have obtained releases of any security for the Bank Debt and cancellation and return of all letters of credit and similar instruments issued pursuant to or in connection with the Bank Debt on behalf of the Corporation and any applicable Subsidiaries or written confirmation from the applicable lender or lenders of the Bank Debt that releases of the security and cancellation of all such letters of credit and similar instruments shall be effected immediately upon such lender(s) receipt of funds in repayment of the Bank Debt and an undertaking to discharge all filings in respect of the security and return of all such letters of credit and similar instruments. References to “Bank Debt” in this Section 7.1(11) does not include the South American Debt.
Payment of Bank Debt. At Closing, Buyer shall pay the Seller Bank Debt. It is estimated that the amount of Seller Bank Debt payable by Buyer at Closing will be $13,268,000, which amount shall be paid to Comerica Bank by wire transfer or cashier’s check.
Payment of Bank Debt. Xxxxxxx and the Affiliates shall have paid, satisfied and cancelled all debt owing by Xxxxxxx to any bank or other financial institution and such bank or other financial institution lien shall have been cancelled. On or before Closing, Xxxxxxx shall provide to Optio copies of all UCC-3 Financing Statement termination filing documents in connection with the cancellation of the debt owing by Xxxxxxx and the liens filed pursuant to such debt.
