Repayment of Outstanding Indebtedness. The Credit Parties shall have repaid in full all outstanding indebtedness secured by Collateral, other than indebtedness giving rise to Permitted Liens.
Repayment of Outstanding Indebtedness. Borrower shall have repaid in full all outstanding indebtedness secured by Collateral, other than indebtedness giving rise to Permitted Liens.
Repayment of Outstanding Indebtedness. The Credit Parties or the Lender, on behalf of the Credit Parties, shall have repaid in full all outstanding indebtedness secured by Collateral, other than indebtedness giving rise to Permitted Liens. By its execution hereof, the Credit Parties authorize the Lender to offset any and all amounts outstanding to Diamond from the Proceeds of the Note and to pay Diamond directly on the Closing Date.
Repayment of Outstanding Indebtedness. At the Effective Time, Buyer shall cause to be paid (i) the full amount of principal and accrued interest, and (ii) up to $1,350,000 with respect to any and all of the fees, costs, expenses, penalties and other amounts (collectively, the “Loan Repayment”) due and payable as of the Effective Time (including any such amounts that become due and payable as a result of the Merger and the consummation of the other transactions contemplated by this Agreement) under the Company Securitization Documents. For these purposes, the term “Company Securitization Documents” shall mean that certain Second Amended and Restated Loan Funding and Servicing Agreement by and among the Company, Patriot Capital Funding LLC I and the Lenders specified therein, together with the following agreements and arrangements entered into in connection therewith: (i) Agreement, Limited Consent and Amendment No. 1 to Second Amended and Restated Loan Funding and Servicing Agreement, dated as of July 9, 2009, entered into by and among Company, Patriot Capital Funding LLC I, and the Lenders and other parties specified therein and (ii) a letter agreement, dated as of July 9, 2009, by and between Patriot Capital Funding LLC I and Bank of Montreal regarding the early termination of certain interest rate swaps agreements. The Loan Repayment shall occur in the manner reasonably required by the Lenders and other parties to whom any portion of the Loan Repayment is owed, and Buyer agrees to cooperate with, and take all such actions reasonably requested by, the Lenders and such other parties in connection therewith.
Repayment of Outstanding Indebtedness. The Lender hereby lends to the Borrower TWENTY MILLION NINE HUNDRED SEVENTY-EIGHT THOUSAND EIGHT HUNDRED EIGHTY-ONE DOLLARS AND TWO CENTS ($20,978,881.
Repayment of Outstanding Indebtedness. Not less than two business days prior to the Closing Date, the Company shall deliver to Parent payoff letters from third-party lenders, in form and substance reasonably satisfactory to Parent, with respect to the Indebtedness of the Company and the Company Subsidiaries identified on SCHEDULE 6.15 or incurred after the date hereof in compliance with Section 6.01. Such payoff letters shall specify the amount necessary to repay such Indebtedness and completely discharge the obligations of the Company and the Company Subsidiaries with respect thereto. At Closing, Parent shall provide to the Surviving Corporation the aggregate amount necessary to make such repayment and discharge, and shall cause the Surviving Corporation or a Company Subsidiary to discharge such Indebtedness in accordance with the delivery instructions provided in such payoff letters.
Repayment of Outstanding Indebtedness. Subject to the receipt from Parent of the funds necessary to make all necessary payments under Section 6.14, the Company shall obtain and deliver to Parent, at or prior to the Closing, an executed copy of the Payoff Letter, together with such other documents and instruments as may reasonably be required by Parent to demonstrate that, effective as of the payment of the amount provided in the Payoff Letter to the party identified therein, which the Company shall pay on the Closing, (i) the Existing Credit Facility shall terminate (except for those provisions that customarily survive termination), (ii) all Indebtedness and other payment obligations of the Company and its affiliates under the Existing Credit Facility shall be repaid in full, (iii) all letters of credit outstanding thereunder shall either terminate or, if arrangements are made for any such letter of credit to remain outstanding following the termination of the Existing Credit Facility, each such letter of credit shall be cash collateralized pursuant to arrangements described in the Existing Credit Facility or otherwise reasonably satisfactory to Parent, and (iv) all of the Company’s and its Affiliates’ assets and properties are free from any and all Liens related thereto.
Repayment of Outstanding Indebtedness. Except as permitted under Section 7.1, Borrower shall certify that all outstanding Indebtedness of Borrowers has been repaid.
Repayment of Outstanding Indebtedness. Prior to or concurrently with the Closing, the Company shall have repaid or otherwise satisfied in full the whole principal amount, together with all accrued but unpaid interest thereon, of the Existing Senior Credit Facility outstanding immediately prior to the Closing Date.
Repayment of Outstanding Indebtedness. Cash Collateralization of ---------------------------------------------------------------- Outstanding Letters of Credit.
(i) the Administrative Agent shall have received ----------------------------- a fully executed original of a payoff letter from the indenture trustee for the Life Companies, satisfactory to the
(ii) the Administrative Agent shall have received a fully executed original of a payoff letter from SocGen, as Agent under the SocGen Credit Agreement, satisfactory to the Administrative Agent, stipulating the amount of the SocGen Obligations and the amount of cash collateral required to cash collateralize the SocGen Letters of Credit in full and confirming that all of the SocGen Obligations (other than the SocGen Letters of Credit, but specifically including the term loan funded on September 2, 1997 in respect of the Bayou Oaks Bonds) will be repaid in full from the proceeds of the Term Loans, the initial Revolving Credit Advance and the Related Transactions; and (iii) the Administrative Agent shall have received a fully executed original of the SocGen Cash Collateral Agreement.
