Common use of Satisfaction of Obligations to Creditors Clause in Contracts

Satisfaction of Obligations to Creditors. At or prior to the Closing Date, the Transferor Parties will satisfy or cause to be satisfied all obligations of a Transferor owed to its creditors or take other action or obtain other consents necessary to permit the Acquiror to obtain clear title to the Transferred Assets free of all Liens other than for Assumed Liabilities, and the Transferor Parties will deliver or cause to be delivered to the Acquiror termination statements, releases and other appropriate evidence requested by Parent to the effect that no Liens against the Transferred Assets other than Liens for Assumed Liabilities exist as of the completion of the Closing.

Satisfaction of Obligations to Creditors. At or prior to the Closing Date, the Transferor Parties will satisfy or cause to be satisfied all obligations of a Transferor owed to its creditors or take other action or obtain other consents necessary to permit the Acquiror to obtain clear title to the Transferred Assets free of all Liens other than for Assumed Liabilities, and the Transferor Parties will deliver or cause to be delivered to the Acquiror termination statements, releases and other appropriate evidence requested by Parent SFX to the effect that no Liens against the Transferred Assets other than Liens for Assumed Liabilities exist as of the completion of the Closing.

Satisfaction of Obligations to Creditors. At or prior to the Closing Date, the Transferor Parties will satisfy or cause to be satisfied all obligations of a Transferor owed to its creditors or and take any other action actions or obtain other consents necessary to permit the Acquiror or its Designated Affiliate to obtain clear title to the Transferred Assets free of all Liens other than for Assumed Liabilities, and the Transferor Parties will deliver or cause to be delivered to the Acquiror payoff letters, termination statements, releases and other appropriate evidence requested by Parent to the effect that no Liens against the Transferred Assets other than Liens for Assumed Liabilities exist as of the completion of the Closing.