Common use of Payment of Indebtedness; Financing Statements Clause in Contracts

Payment of Indebtedness; Financing Statements. Seller shall secure the release of all liens or encumbrances on the Station Assets that secure the payment of any indebtedness and shall deliver to Buyer at the Closing releases or terminations under the Uniform Commercial Code and any other applicable federal, state or local statutes or regulations of any financing or similar statements filed against any Station Assets in (a) the jurisdictions in which the Station Assets are and have been located since such Station Assets were acquired by Seller, and (b) any other location specified or required by applicable federal, state or local statutes or regulations.

Payment of Indebtedness; Financing Statements. Except as otherwise provided in Section 3.1 of this Agreement, Seller shall secure the release of all liens or encumbrances Liens on the Station Assets that secure the payment of any indebtedness and shall deliver to Buyer at the Closing releases or terminations under the Uniform Commercial Code and any other applicable federal, state or local statutes or regulations of any financing or similar statements filed against any Station Assets in (a) the jurisdictions in which the Station Assets are and have been located since such Station Assets assets were acquired by Seller, and (b) any other location specified or required by applicable federal, state or local statutes or regulations.