Termination of Existing Credit Agreements and Related Liens; Existing Letters of Credit Sample Clauses

Termination of Existing Credit Agreements and Related Liens; Existing Letters of Credit. On the Closing Date, Borrower and its Subsidiaries shall have (i) repaid in full all outstanding Indebtedness of Borrower and its Subsidiaries, other than Indebtedness permitted under subsection 7.1, (ii) terminated any commitments to lend or make other extensions of credit thereunder, (iii) delivered to Administrative Agent all documents or instruments necessary to release all Liens securing Indebtedness or other obligations of Borrower and its Subsidiaries thereunder, and (iv) made arrangements satisfactory to Administrative Agent with respect to the cancellation of any letters of credit outstanding thereunder or the issuance of Letters of Credit to support the obligations of Borrower and its Subsidiaries with respect thereto.
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Termination of Existing Credit Agreements and Related Liens; Existing Letters of Credit. On the Closing Date, Company and its Subsidiaries shall have (a) repaid in full all Indebtedness outstanding under the Existing Credit Agreement, (b) terminated any commitments to lend or make other extensions of credit thereunder, (c) delivered to Administrative Agent all documents or instruments necessary to release all Liens securing Indebtedness or other obligations of Company and its Subsidiaries thereunder, and (d) made arrangements satisfactory to Administrative Agent with respect to the cancellation of any letters of credit outstanding thereunder or the issuance of new letters of credit to support the obligations of Company and its Subsidiaries with respect thereto.
Sample 1
Termination of Existing Credit Agreements and Related Liens; Existing Letters of Credit. On the Closing Date, Borrowers and their Subsidiaries shall have (a) repaid in full all outstanding Indebtedness of Borrowers and their Subsidiaries under the Existing Credit Agreement, (b) terminated any commitments to lend or make other extensions of credit thereunder, (c) delivered to Administrative Agent all documents or instruments necessary to release all Liens securing Indebtedness or other obligations of Borrowers and their Subsidiaries thereunder, and (d) with respect to any letters of credit under the Existing Credit Agreement which will not be Existing Letters of Credit under this Agreement, made arrangements reasonably satisfactory to Administrative Agent with respect to the cancellation of any letters of credit outstanding thereunder or the issuance of Letters of Credit to support the obligations of Borrowers and their Subsidiaries with respect thereto.
Sample 1
Termination of Existing Credit Agreements and Related Liens; Existing Letters of Credit. On the Closing Date, Company and its Subsidiaries shall have (a) repaid in full all Indebtedness outstanding under the Existing Credit Agreements (the aggregate principal amount of which Indebtedness (including letters of credit) shall not exceed $28,000,000), (b) terminated any commitments to lend or make other extensions of credit thereunder, (c) delivered to Administrative Agent all documents or instruments necessary to release all Liens securing Indebtedness or other obligations of Company and its Subsidiaries thereunder (other than those permitted pursuant to subsection 7.2A), and (d) made arrangements satisfactory to Administrative Agent with respect to the Existing Letters of Credit.
Sample 1
Termination of Existing Credit Agreements and Related Liens; Existing Letters of Credit. On the Closing Date, (a) Company and its Subsidiaries shall have repaid in full all Indebtedness outstanding under Existing Company Credit Agreement, the aggregate principal amount of which Indebtedness shall not exceed $79,000,000, (b) Company and its Subsidiaries shall have terminated any commitments to lend or make other extensions of credit under the Existing Company Credit Agreement, (c) at least $129,100,000 of the principal amount of Indebtedness outstanding under the Existing Arris Credit Agreement shall have been contributed to the capital of Arris and any Indebtedness outstanding under the Existing Arris Credit Agreement that is not so contributed shall have been repaid by Arris (the total aggregate amount of such Indebtedness so contributed or repaid shall not exceed $153,200,000), (d) Arris and its Subsidiaries shall have terminated any commitments of Nortel LLC or Company to lend or make other extensions of credit under the Existing Arris Credit Agreement, (e) Holdings and its Subsidiaries shall have delivered to Administrative Agent all documents or instruments necessary to release all Liens securing Indebtedness or other obligations of Company and its Subsidiaries and Arris and its Subsidiaries under the Existing Company Credit Agreement and the Existing Arris Credit Agreement, and (f) Company shall have made arrangements reasonably satisfactory to Administrative Agent with respect to the 93 103 cancellation of any letters of credit outstanding under the Existing Company Credit Agreement or the issuance of Letters of Credit to support the obligations of Company and its Subsidiaries with respect thereto.
Sample 1
Termination of Existing Credit Agreements and Related Liens; Existing Letters of Credit. On the Closing Date, Company and its Subsidiaries shall have (a) repaid in full all Indebtedness outstanding under the Existing Credit Agreements, (b) terminated any commitments to lend or make other extensions of credit thereunder, (c) delivered to Administrative Agent all documents or instruments necessary to release all Liens securing Indebtedness or other obligations of Company and its Subsidiaries thereunder, and (d) made arrangements satisfactory to Administrative Agent with respect to any letters of credit outstanding thereunder.
Sample 1
Termination of Existing Credit Agreements and Related Liens; Existing Letters of Credit. On the closing date, Borrower shall have (a) repaid in full all Indebtedness outstanding under the Amended and Restated Loan and Security Agreement dated as of December 16, 2005 between Borrower and Comerica Bank (as amended, the “Existing Credit Agreement”), the aggregate principal amount of which indebtedness shall not exceed $30,000,000.00, (b) terminated any commitments to lend or make other extensions of credit thereunder, (c) delivered to Bank all documents or instruments necessary to release all liens securing indebtedness or other obligations of Borrower and its Subsidiaries thereunder, and (d) made arrangements satisfactory to Bank with respect to any letters of credit outstanding thereunder.
Sample 1
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Termination of Existing Credit Agreements and Related Liens; Existing Letters of Credit. On the Merger Date, Company shall have, or shall have caused Milgray and its Subsidiaries to have, (i) repaid in full all Indebtedness outstanding under any bank facilities of Milgray and its Subsidiaries existing on or prior to the Merger Date, (ii) terminated any commitments to lend or make other extensions of credit under such bank facilities, and (iii) taken all action necessary to release all Liens securing Indebtedness or other obligations of Surviving Corporation and its Subsidiaries thereunder, in each case on terms satisfactory to Agent.
Sample 1
Termination of Existing Credit Agreements and Related Liens; Existing Letters of Credit. Prior to or concurrently with the Closing Date, Borrower and its Subsidiaries shall have (a) repaid in full all indebtedness outstanding under the Existing Credit Agreement, (b) terminated any commitments to lend or make other extensions of credit thereunder, (c) delivered to Administrative Agent evidence that all Liens securing indebtedness or other obligations of Borrower and its Subsidiaries thereunder have been or concurrently with the Closing Date are being released, and (d) made arrangements satisfactory to Administrative Agent with respect to any letters of credit outstanding thereunder.
Sample 1

Related to Termination of Existing Credit Agreements and Related Liens; Existing Letters of Credit

  • Termination of Existing Credit Agreement Receipt by the Administrative Agent of evidence that the Existing Credit Agreement concurrently with the Closing Date is being terminated and all Liens securing obligations under the Existing Credit Agreement concurrently with the Closing Date are being released.

  • Credit Agreements Schedule II is a complete and correct list, as of the date of this Agreement, of each credit agreement, loan agreement, indenture, purchase agreement, guarantee or other arrangement providing for or otherwise relating to any Indebtedness or any extension of credit (or commitment for any extension of credit) to, or guarantee by, the Company or any of its Material Subsidiaries the aggregate principal or face amount of which equals or exceeds (or may equal or exceed) $150,000,000 and the aggregate principal or face amount outstanding or which may become outstanding under each such arrangement is correctly described in Schedule II.

  • Existing Credit Agreement On the date of this Agreement, the Existing Credit Agreement shall be amended and restated in its entirety by this Agreement, and the Existing Credit Agreement shall be replaced hereby; provided that the Borrower, the Administrative Agent and the Lenders agree that on the date of the initial funding of Loans hereunder, the loans and other Indebtedness of the Borrower under the Existing Credit Agreement shall be renewed, rearranged, modified and extended with the proceeds of the initial funding and the “Commitments” of the lenders under the Existing Credit Agreement shall be superseded by this Agreement and terminated. This Agreement is not in any way intended to constitute a novation of the obligations and liabilities existing under the Existing Credit Agreement or evidence payment of all or any portion of such obligations and liabilities. The terms and conditions of this Agreement and the Administrative Agent’s, the Lenders’ and the Issuing Banks’ rights and remedies under this Agreement and the other Loan Documents shall apply to all of the Indebtedness incurred under the Existing Credit Agreement and in respect of the Existing Letters of Credit. The undersigned hereby waive (i) any right to receive any notice of such termination, (ii) any right to receive any notice of prepayment of amounts owed under the Existing Credit Agreement, and (iii) any right to receive compensation under Section 5.02 of the Existing Credit Agreement in respect of Eurodollar Loans outstanding under the Existing Credit Agreement resulting from such rearrangement. Each Lender that was a party to the Existing Credit Agreement hereby agrees to return to the Borrower, with reasonable promptness, any promissory note delivered by the Borrower to such Lender in connection with the Existing Credit Agreement.

  • Amendments to Existing Credit Agreement Effective on (and subject to the occurrence of) the Effective Date, the Existing Credit Agreement is hereby amended in accordance with this Part II. Except as so amended, the Existing Credit Agreement shall continue in full force and effect.

  • DESCRIPTION OF EXISTING INDEBTEDNESS AND OBLIGATIONS Among other indebtedness and obligations which may be owing by Borrower to Bank, Borrower is indebted to Bank pursuant to a loan arrangement dated as of June 11, 2003, evidenced by, among other documents, a certain Loan and Security Agreement dated as of June 11, 2003 between Borrower and Bank, as amended from time to time (as amended, the "Loan Agreement"). Capitalized terms used but not otherwise defined herein shall have the same meaning as in the Loan Agreement.

  • Amendment of the Existing Credit Agreement In consideration of the mutual covenants in this Amendment, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree that, subject to the satisfaction of the conditions precedent set forth in clause 3.1, the Existing Credit Agreement shall, with effect on and from the Amendment Effective Date, be (and it is hereby) amended in accordance with the amendments set out in Schedule 3 and (as so amended) will continue to be binding upon each of the Borrower and the Finance Parties in accordance with its terms as so amended.

  • Loan Document Pursuant to Existing Credit Agreement This Amendment is a Loan Document executed pursuant to the Existing Credit Agreement and shall (unless otherwise expressly indicated therein) be construed, administered and applied in accordance with all of the terms and provisions of the Existing Credit Agreement, as amended hereby, including Article IX thereof.

  • of the Existing Credit Agreement Subsection 6.4(iii) of the Existing Credit Agreement is hereby amended and restated to read as follows:

  • Execution of Credit Agreement; Loan Documents The Administrative Agent shall have received (i) counterparts of this Agreement, executed by a Responsible Officer of each Loan Party and a duly authorized officer of each Lender, (ii) for the account of each Lender requesting a Note, a Note executed by a Responsible Officer of the Borrower, (iii) counterparts of the Security Agreement and each other Collateral Document, executed by a Responsible Officer of the applicable Loan Parties and a duly authorized officer of each other Person party thereto, as applicable and (iv) counterparts of any other Loan Document, executed by a Responsible Officer of the applicable Loan Party and a duly authorized officer of each other Person party thereto.

  • Amendments to the Existing Credit Agreement Upon, and subject to, the satisfaction or waiver in accordance with Section 9.02 of the Existing Credit Agreement of the conditions precedent set forth in Section 2 below, the Existing Credit Agreement is hereby amended as follows: (a) The following new definition is included in Section 1.01 of the Existing Credit Agreement in the proper alphabetical order as follows:

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