Common use of Prior Indebtedness Clause in Contracts

Prior Indebtedness. A payoff letter from Credit Suisse AG, in form and substance satisfactory to Agent, together with such Uniform Commercial Code termination statements, releases of mortgage Liens and other instruments, documents and/or agreements necessary or appropriate to terminate any Liens in favor of Credit Suisse AG securing the prior indebtedness which is to be indefeasibly paid in full on or prior to the Closing Date, as Agent may request, duly executed and in recordable form, if applicable, and otherwise in form and substance satisfactory to Agent;

Prior Indebtedness. A payoff letter from Credit Suisse AG, in form and substance satisfactory to Agent, together with such Uniform Commercial Code termination statements, releases of mortgage Liens and other instruments, documents and/or agreements necessary or appropriate to terminate any Liens in favor of Credit Suisse AG securing the prior indebtedness which is to be indefeasibly paid in full on or prior to the Closing Date, as Agent may request, duly executed and in recordable form, if applicable, and otherwise in form and substance satisfactory to Agent;; [PHI Group] Revolving Credit, Term Loan and Security Agreement