Payment of Existing Indebtedness. The Agent shall be satisfied that all Existing Indebtedness, other than Surviving Indebtedness, has been prepaid, redeemed or defeased in full or otherwise satisfied and extinguished and all commitments relating thereto terminated.
Payment of Existing Indebtedness. All Indebtedness owing to Super G Capital, LLC (formerly known as Super G Funding, LLC) is paid in full.
Payment of Existing Indebtedness. On the Initial Borrowing Date, Holdings and its Subsidiaries shall have repaid or repurchased in full all their Existing Indebtedness (excluding Retained Existing Indebtedness), and the Agents shall be satisfied that all commitments, guarantees and security interests relating thereto shall have been terminated or shall be terminated simultaneously with the repayment or repurchase of the respective Existing Indebtedness. After giving effect to the Transaction and the other transactions contemplated hereby and by the Merger Agreement, Holdings and its Subsidiaries shall have outstanding no Indebtedness or Preferred Stock or other preferred equity interests other than (a) the Senior Subordinated Notes, (b) in the case of Holdings, the Initial Preferred Stock and the Seller Note, (c) Indebtedness incurred pursuant to this Agreement and the other Credit Documents, (d) the UK Intercompany Loan, (e) the Retained Existing Indebtedness (if any) and (f) the Canadian Intercompany Loan.
Payment of Existing Indebtedness. Concurrently with the funding of the Loans to be made on the Closing Date, the Administrative Agent shall have received evidence satisfactory to it that TAG shall have repaid the Existing Indebtedness and shall have received those UCC-3 statements, termination statements, releases, reconveyances and other documents necessary to release any security interests in any asset or property or any Credit Party.
Payment of Existing Indebtedness. The outstanding amount of the Indebtedness of each Borrower described on the attached "Use of Proceeds Schedule" shall have been paid in full as of the Closing, and such Borrower shall have received appropriate payoff letters, lien releases and other documents in form and substance satisfactory to the Purchaser.
Payment of Existing Indebtedness. All Indebtedness to Silicon Valley Bank is paid in full.
Payment of Existing Indebtedness. Evidence that all existing Indebtedness of the Credit Parties (except those permitted pursuant to Section 9.1) have been paid in full and cancelled (or will be paid from the proceeds of the Loans) and all Liens related thereto have been terminated or released (or will be terminated and released upon the payment in full thereof).
Payment of Existing Indebtedness. Payment by the Parent of (i) -------------------------------- all Indebtedness owing under the Existing Credit Agreement on the Closing Date, other than the Existing Offshore Rate Loans and the Existing Letters of Credit, and (ii) all Indebtedness owing to BofA on the Closing Date under a promissory note dated November 7, 1997, in the original principal amount of $5,000,000.
Payment of Existing Indebtedness. The existing senior secured indebtedness of the Borrower shall have been paid in full, the agreements and instruments governing and evidencing such indebtedness shall have been terminated and cancelled, all Liens in connection therewith shall have been released and the instruments and documents related thereto shall be satisfactory to the Agent and the Banks in their sole discretion.
Payment of Existing Indebtedness. On the Closing Date, the Administrative Agent shall have received evidence that (a) all Existing Indebtedness has been refinanced with the proceeds of the Loans, (b) the letters of credit issued pursuant to the Prior Credit Agreement shall be included as Letters of Credit hereunder and (c) the commitment of the Banks pursuant to the Prior Credit Agreement shall have been cancelled;
