Common use of Termination of Existing Credit Facility Clause in Contracts

Termination of Existing Credit Facility. The Administrative Agent shall have received reasonably sufficient evidence indicating that simultaneously with the making of the initial Advances hereunder the obligations of the Credit Parties and their lenders under the Existing Credit Facility shall be terminated (including, without limitation, any obligations in respect of guaranties executed in connection with such Existing Credit Facility (but excluding any obligations which expressly survive the repayment of the amounts owing under the Existing Credit Facility)).

Termination of Existing Credit Facility. The Administrative Agent shall have received reasonably sufficient evidence indicating that simultaneously with the making of the initial Advances hereunder the obligations of the Credit Parties and their lenders under the Existing Credit Facility shall be terminated (including, without limitation, any obligations payoff letters), satisfactory to the Administrative Agent in respect of guaranties executed in connection with such Existing Credit Facility (but excluding any obligations which expressly survive its reasonable discretion, that the repayment of the amounts owing under Borrowers shall have terminated the Existing Credit Facility))Agreement.