Payoff of Existing Indebtedness. On the Charter Closing Date, the Company shall, to the extent of cash on hand or proceeds from the Financing or the Requested Transactions (or other funds provided by Parent) available therefor, repay, or cause to be repaid, the obligations outstanding under the Credit Agreement by wire transfer of immediately available funds in accordance with wire transfer instructions set forth in payoff letters provided to Parent by the Company at least five (5) Business Days prior to the Charter Closing Date, and release or terminate (or cause to be released or terminated), or authorize Parent to cause to be released or terminated, all guarantees and security interests related thereto.
Payoff of Existing Indebtedness. After giving effect to the Credit Extensions on the Closing Date, the Parent and its Subsidiaries shall have repaid in full, and terminated all commitments with respect to, any Indebtedness (other than Indebtedness permitted under Section 8.03) and all Liens securing such Indebtedness shall have been released.
Payoff of Existing Indebtedness. On or before the Closing Date, the Borrower shall have: (x)repaid all Indebtedness, obligations, fees, interest, principal, and all other amounts owing under the Existing Credit Facilities, (y)obtained releases and shall have terminated of record all Liens with respect to the Existing Credit Facilities, and (z)terminated the Existing Credit Facilities and all commitments to make loans or issue Letters of Credit thereunder, and the Borrower shall have provided evidence of all of the foregoing to the Required Banks to the satisfaction of the Required Banks in their sole discretion.
Payoff of Existing Indebtedness. All existing Indebtedness under (i) that certain Loan Agreement dated as of October 2, 2012 (as amended, restated, supplemented or modified from time to time) among Pro Farm, the Lenders (defined therein) and Xxxxxx Xxxxxx, (ii) that certain Promissory Note, dated as of June 13, 2014, among, Pro Farm and Pro Farm Michigan, LLC (formerly, Pro Farm Michigan Manufacturing, LLC) and Five Star Bank, (iii) that certain Senior Secured Promissory Note, dated as of August 20, 2015, between, Pro Farm and Macquarie Group Limited, (iv) that certain Security Agreement, dated as of August 20, 2015, between Pro Farm and Ivy Investment Management Corp., as agent for the Lenders (defined therein) and (v) that certain Invoice Purchase Agreement dated March 20, 2017, as amended, and the Inventory Financing Addendum, as amended, between LSQ Funding Group, L.C. will be repaid, all commitments thereunder or in connection therewith will be terminated and any liens, security interests or guaranties in connection therewith will have been terminated or released.
Payoff of Existing Indebtedness. Written evidence satisfactory to Agent that the Business Loan Agreement dated as of December 16, 2002 between Funline and East West Bank has been terminated and that all Indebtedness and other liabilities thereunder have been paid in full and all Liens securing such Indebtedness have been terminated.
Payoff of Existing Indebtedness. Borrower shall have delivered Bank a payoff letter evidencing the payoff and termination of the Existing Indebtedness and corresponding UCC termination statements with respect to any liens granted in connection with the Existing Indebtedness, in each case satisfactory to Bank.
Payoff of Existing Indebtedness. The Administrative Agent shall have received evidence, including by way of a payoff letter, that all outstanding indebtedness associated with the Existing Credit Facility shall be discharged in full substantially simultaneously with the occurrence of the Agreement Effective Date pursuant to documentation reasonably satisfactory to the Administrative Agent and the Majority Lenders.
Payoff of Existing Indebtedness. The Banks shall have received payment in full of all principal, interest and fees then due or outstanding under the Loan Agreement from the proceeds of the Senior Unsecured Notes;
Payoff of Existing Indebtedness. A payoff letter from: (i) the administrative agent acting for the holders of the Take Back Notes and (ii) the administrative agent under the Existing Credit Facility pursuant to which each such party shall agree that upon payment of the amounts set forth therein, all Liens securing the Indebtedness described therein will be released or assigned to the Administrative Agent. The Administrative Agent shall notify the Borrower and the Lenders of the Effective Date, and such notice shall be conclusive and binding. Notwithstanding the foregoing, the obligations of the Lenders to make Loans and any agreement of the Issuing Bank to issue Letters of Credit hereunder shall not become effective unless each of the foregoing conditions is satisfied (or waived pursuant to Section 10.02) at or prior to 3:00 p.m., Houston, Texas time, on September 30, 2006 (and, in the event such conditions are not so satisfied or waived, the Commitments shall terminate at such time).
Payoff of Existing Indebtedness. 6.2 Each Additional Loan or Letter of Credit.
