Payment of Outstanding Indebtedness, etc. All Indebtedness of any Obligor (other than Indebtedness permitted by this Agreement) that is either for borrowed money or secured by any Lien, together with all interest, all prepayment premiums and other amounts due and payable with respect thereto, shall have been paid in full on the Closing Date, and the commitments in respect of such repaid Indebtedness shall have been terminated, and all Liens securing payment of any such Indebtedness shall have been released and the Agent shall have received all Uniform Commercial Code termination statements (Form UCC-3) and other executed instruments as may be required in connection therewith. After giving effect to the foregoing, the Obligors shall have no Indebtedness other than Indebtedness permitted by this Agreement.
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Samples: Credit Agreement, Credit Agreement (Parametric Sound Corp), Credit Agreement (Parametric Sound Corp)
Payment of Outstanding Indebtedness, etc. All Indebtedness of any Obligor (other than that identified in Schedule 10.2 hereto, including, without limitation, all Indebtedness permitted by this Agreement) that is either for borrowed money or secured by any Lienunder the Existing Credit Agreements, together with all interest, all prepayment premiums and other amounts due and payable with respect thereto, shall have been paid in full from the proceeds of the initial Loan incurred on the Closing Date, and the commitments in respect of such repaid Indebtedness shall have been terminated, and all Liens securing payment of any such Indebtedness shall have been released and the Agent shall have received all Uniform Commercial Code termination statements (Form UCC-3) and or other executed instruments as may be required in connection therewith. After giving effect to the foregoing, the Obligors Borrowers shall have no Indebtedness other than Indebtedness permitted by this Agreement.
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