Common use of Termination of Existing Indebtedness Clause in Contracts

Termination of Existing Indebtedness. Receipt by the Administrative Agent of evidence that all existing Indebtedness of the Borrower and its Subsidiaries (other than Indebtedness permitted under Section 9.1), concurrently with the Closing Date, is being terminated and all Liens securing obligations thereunder concurrently with the Closing Date are being released other than Permitted Liens.

Appears in 1 contract

Samples: Credit Agreement (MSP Recovery, Inc.)

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Termination of Existing Indebtedness. Receipt by the The Administrative Agent of shall have received evidence that all existing Indebtedness of the Borrower and its Subsidiaries (other than Indebtedness permitted under Section 9.1), Existing Credit Agreements have been or concurrently with the Closing Date, is Date are being terminated and all Liens securing obligations thereunder under the Existing Credit Agreements have been or concurrently with the Closing Date are being being, released other than Permitted Liensand discharged.

Appears in 1 contract

Samples: Credit Agreement (Revel Entertainment Group, LLC)

Termination of Existing Indebtedness. Receipt by the Administrative Agent of evidence that all existing Indebtedness of the Borrower and its Subsidiaries (other than Indebtedness permitted under Section 9.18.1), concurrently with the Closing Effective Date, is being terminated and all Liens securing obligations thereunder concurrently with the Closing Effective Date are being released other than Permitted Liens.

Appears in 1 contract

Samples: Credit Agreement (MSP Recovery, Inc.)

Termination of Existing Indebtedness. Receipt by the The Administrative Agent of ------------------------------------ shall have received satisfactory evidence that all of the existing Indebtedness of the Borrower and its Subsidiaries have been terminated or will be terminated on the Closing Date (other than Indebtedness permitted under by Section 9.17.2), concurrently with the Closing Date, is being terminated and all Liens securing obligations amounts thereunder concurrently with have been paid in full or will be paid in full on the Closing Date are being released other than Permitted Liensand satisfactory arrangements have been made for the termination of all Liens and security interests granted in connection therewith.

Appears in 1 contract

Samples: Credit Agreement (City Truck Holdings Inc)

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Termination of Existing Indebtedness. Receipt by the The Administrative Agent of shall have received evidence that all existing Indebtedness of the Borrower and its Subsidiaries (Indebtedness, other than Indebtedness permitted under by Section 9.1)7.02 hereunder, has been or concurrently with the Closing Date, Date is being terminated and all Liens securing obligations thereunder under such Indebtedness have been or concurrently with the Closing Date are being released other than Permitted Liens.released;

Appears in 1 contract

Samples: Credit Agreement (CNL Retirement Properties Inc)

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