Common use of Refinancing of Existing Indebtedness Clause in Contracts

Refinancing of Existing Indebtedness. Except with respect to Indebtedness permitted pursuant to the terms of this Agreement and set forth on Schedule 7.1, receipt by the Administrative Agent of copies of duly executed payoff letters, executed by each of the Loan Parties’ existing lenders or the agent thereof, together with (i) evidence of payment of such existing Indebtedness, (ii) authorization to file UCC-3 or other appropriate termination statements releasing all liens of such existing lenders upon any of the personal property of the Borrower and its Subsidiaries, (iii) cancellations and releases, in form and substance satisfactory to the Administrative Agent, releasing all liens of any existing lenders upon any of the real property of the Borrower and its Subsidiaries, and (iv) any other releases, terminations or other documents reasonably required by the Administrative Agent to evidence the payoff of Indebtedness owed to any existing lenders (including, but not limited to, Indebtedness pursuant to the Existing Credit Agreement).

Refinancing of Existing Indebtedness. Except with respect to Indebtedness permitted pursuant to the terms of this Agreement and set forth on Schedule 7.1, receipt by the Administrative Agent of copies Copies of duly executed payoff lettersletters in form and substance satisfactory to Administrative Agent, executed by each of the Loan PartiesBorrower’s and the Acquired Business and its Subsidiaries’ existing lenders or the agent thereof, together with (iA) evidence of payment of such existing Indebtedness, (iiB) authorization to file UCC-3 or other appropriate termination statements statements, in form and substance satisfactory to Administrative Agent, releasing all liens of such any existing lenders upon any of the personal property of the Borrower and its the Acquired Business and their Subsidiaries, (iiiC) cancellations and releases, in form and substance satisfactory to the Administrative Agent, releasing all liens of any existing lenders upon any of the real property of the Borrower and its the Acquired Business and their Subsidiaries, and (ivD) any other releases, terminations or other documents reasonably required by the Administrative Agent to evidence the payoff of Indebtedness owed to any existing lenders (including, but not limited to, Indebtedness pursuant to the Existing Credit Agreement)lenders.