Common use of Termination of Existing Indebtedness Clause in Contracts

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

Appears in 1 contract

Samples: Credit Agreement (CNL Retirement Properties Inc)

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Termination of Existing Indebtedness. The Administrative Agent shall have received evidence that all Indebtedness, existing Indebtedness for borrowed money of the Company and its Subsidiaries and the Acquired Company (other than the Indebtedness permitted by Section 7.02 hereunder, has listed on Schedule 6.1(b)) shall have been or concurrently with the Closing Date is being repaid in full and terminated and all Liens securing obligations under such Indebtedness relating thereto shall have been or concurrently with the Closing Date are being released;terminated.

Appears in 1 contract

Samples: Credit Agreement (Lionbridge Technologies Inc /De/)

Termination of Existing Indebtedness. The Administrative Agent shall have received evidence that all Indebtedness, existing Indebtedness for borrowed money of the Company and its Subsidiaries (other than the Indebtedness permitted by Section 7.02 hereunder, has listed on Schedule 6.1(b)) shall have been or concurrently with the Closing Date is being repaid in full and terminated and all Liens securing obligations under such Indebtedness relating thereto shall have been terminated. On or concurrently with before January 31, 2007 (or such extended period of time as agreed to by the Closing Date are being released;Administrative Agent), the Company shall deliver to the Administrative Agent evidence that all NYDTF Liens have been terminated.

Appears in 1 contract

Samples: Credit Agreement (Lionbridge Technologies Inc /De/)

Termination of Existing Indebtedness. The Administrative Agent ------------------------------------ shall have received satisfactory evidence that all Indebtedness, 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 by Section 7.02 hereunder7.2), has all amounts thereunder have been paid in full or concurrently with will be paid in full on the Closing Date is being terminated and satisfactory arrangements have been made for the termination of all Liens securing obligations under such Indebtedness have been or concurrently with the Closing Date are being released;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. The Administrative Agent shall have received satisfactory evidence that substantially all Indebtedness, of the existing Indebtedness of the Company and its Subsidiaries (other than Indebtedness permitted by allowed pursuant to Section 7.02 hereunder, has been or concurrently with the Closing Date is being terminated and all Liens securing obligations under such Indebtedness 7.2(e)) shall have been or concurrently with paid in full and arrangements satisfactory to the Closing Date are being released;Administrative Agent shall have been made for the termination of Liens and security interests granted in connection therewith.

Appears in 1 contract

Samples: Credit Agreement (Grove Investors Capital Inc)

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