Payment of Existing Debt. Receipt by the Administrative Agent of evidence that the Existing Revolving Credit Agreement has been terminated and all amounts owing to the Lenders thereunder have been paid in full.
Payment of Existing Debt. After giving effect to the use of ------------------------ the proceeds of the Loans borrowed on the Closing Date, all obligations in respect of the Existing Bank Debt shall have been repaid in full and all documents and agreements in connection therewith shall have been irrevocably terminated, other than customary indemnification provisions which by the terms thereof survive repayment.
Payment of Existing Debt. As described in the Background Information hereinabove, Corporation has agreed to sell the real property described in such Background Information to CNL-BB Corp, a Florida corporation. Further, Corporation has agreed to sell the personal property previously owned by the general partnerships described in the Background Information above to CNL American Properties Fund, Inc., a Maryland corporation. Corporation hereby covenants and agrees that it will use all of the proceeds of such sales (after the payment of reasonable expenses of Corporation incurred in connection therewith and in connection with certain related transactions as well as any and all outstanding legal fees and costs of Corporation's legal counsel), to pay down the outstanding balance of the loan to Corporation from the group of lenders represented by Banque Paribas, a French corporation, as agent.
Payment of Existing Debt. Administrative Agent shall have received sufficient evidence satisfactory to it indicating that simultaneously with the effectiveness of this Agreement, (i) the obligations of each Loan Party (for purposes of this paragraph (o), as such term is defined in the Existing Credit Agreement) under the Existing Credit Agreement and the other Loan Documents (for purposes of this paragraph (o), as such term is defined in the Existing Credit Agreement) shall have been satisfied in full and all of the commitments thereunder shall have been terminated and (ii) acceptable provisions have been made for the termination of the Liens securing the same.
Payment of Existing Debt. All Debt arising under the Existing Credit Agreement shall have been repaid in full, and the Agent shall have received satisfactory payoff letters, lien release documentation or similar agreements which evidence the foregoing.
Payment of Existing Debt. Pay any obligation in respect of Existing Debt, the Eurobonds or any Other Funded Debt (other than Other Funded Debt set forth on Exhibit D hereof) or prepay any other material obligation;
Payment of Existing Debt. Agents shall have received evidence satisfactory to the Majority Lenders that the U.S. Borrower and its Subsidiaries shall have been released (or will, upon payment thereof using the proceeds of the Loans, be released) from all liabilities and obligations in respect of all Borrowed Money Indebtedness other than the Obligations and other than liabilities and obligations expressly permitted under Section 8.1 hereof, and that any such Borrowed Money Indebtedness which is not so permitted shall have been terminated.
Payment of Existing Debt. The Refinancing (as defined in the Commitment Letter) shall have been consummated or will be consummated substantially simultaneously with the Closing Date.
Payment of Existing Debt. All principal, premium, if any, interest, fees and other amounts due or outstanding under the Existing Credit Agreement (the “Existing Debt”) shall have been (or substantially concurrently with the making of the initial Loans hereunder, shall be) paid in full, the commitments thereunder terminated and all guarantees and security in support thereof discharged and released, and the Administrative Agent shall have received (or substantially with the making of the initial Loans hereunder, shall receive) reasonably satisfactory evidence thereof. Immediately after giving effect to the borrowings to occur on the Closing Date and the other transactions contemplated hereby, the Company and its Subsidiaries shall have outstanding no Indebtedness or preferred stock other than (i) Indebtedness outstanding under this Agreement, (ii) the Company’s Series A Convertible Preferred Stock and (iii) Indebtedness set forth on Schedule 7.02(d).
Payment of Existing Debt. Evidence that all existing indebtedness of MOS Plastics has been paid in full in accordance with the terms and conditions thereof; with the exception of trade debt incurred in the ordinary course of business, indebtedness incurred for acquiring fixed assets during 1997 in an amount not to exceed $275,000, and except for certain other existing indebtedness of MOS Plastics identified on Schedule 4.1(x) attached hereto, which does not exceed $1,450,000 in the aggregate.
