Common use of Repayment of Prior Lender Obligations; Satisfaction of Outstanding L/Cs Clause in Contracts

Repayment of Prior Lender Obligations; Satisfaction of Outstanding L/Cs. (i) Agent shall have received fully executed pay-off letters reasonably satisfactory to Agent respecting the amounts necessary to repay in full all of the obligations of any Credit Party to Prior Lender and confirming that all Liens upon any of the Property of the Credit Parties or any of their Subsidiaries in favor of Prior Lender shall be terminated upon receipt of such payment; and (ii) all letters of credit issued or guaranteed by Prior Lender shall have been cash collateralized, or supported by a Letter of Credit Issued pursuant hereto, as mutually agreed upon by Agent, the Borrower and Prior Lender.

Repayment of Prior Lender Obligations; Satisfaction of Outstanding L/Cs. (i) Agent shall have received a fully executed pay-off letters letter reasonably satisfactory to Agent respecting the amounts necessary to repay in full confirming that all of the obligations of owing by any Credit Party to Prior Lender Lenders will be repaid in full from the proceeds of the initial Loans and confirming that all Liens upon any of the Property of the Credit Parties or any of their Subsidiaries in favor of Prior Lender Lenders shall be terminated by Prior Lenders immediately upon receipt of such payment; and (ii) all letters of credit issued or guaranteed by Prior Lender shall Lenders have been cash collateralized, collateralized or supported by a Letter of Credit Issued pursuant hereto, as mutually agreed upon by Agent, the Borrower Borrowers and such Prior Lender.

Repayment of Prior Lender Obligations; Satisfaction of Outstanding L/Cs. (i) Agent shall have received a fully executed pay-off letters letter reasonably satisfactory to Agent respecting the amounts necessary to repay in full confirming that all of the obligations of owing by any Credit Party to Prior Lender will be repaid in full and confirming that all Liens upon any of the Property of the Credit Parties or any of their Subsidiaries in favor of Prior Lender shall be terminated by Prior Lender immediately upon receipt of such payment; and (ii) all letters of credit issued or guaranteed by Prior Lender shall have been cash collateralized, collateralized or supported by a Letter of Credit Issued issued pursuant hereto, as mutually agreed upon by Agent, the Borrower and Prior Lender.;

Repayment of Prior Lender Obligations; Satisfaction of Outstanding L/Cs. (i) Agent shall have received a fully executed pay-off letters letter reasonably satisfactory to Agent respecting the amounts necessary to repay in full confirming that all of the obligations of owing by any Credit Party to Prior Lender will be repaid in full from the proceeds of the initial Loans and confirming that all Liens upon any of the Property of the Credit Parties or any of their Subsidiaries in favor of Prior Lender shall be terminated by Prior Lender immediately upon receipt of such payment; and (ii) all letters of credit issued or guaranteed by Prior Lender shall have been cash collateralized, collateralized or supported by a Letter of Credit Issued pursuant hereto, as mutually agreed upon by Agent, the Borrower Borrowers and Prior Lender.;