Termination of Prior Credit Agreement. The Prior Credit Agreement shall have been terminated to the satisfaction of the Administrative Agent.
Termination of Prior Credit Agreement. The Agent shall have received evidence satisfactory to the Agent that the Prior Credit Agreement shall have been terminated and be of no further force and effect and any and all amounts outstanding thereunder or otherwise payable pursuant thereto shall have been paid.
Termination of Prior Credit Agreement. Upon the execution and delivery of this Agreement, the Prior Credit Agreement shall terminate save for those provisions therein which are expressed or intended to survive the termination thereof. Immediately prior to the Closing Date, all loans outstanding under the Prior Credit Agreement shall be purchased by the Lenders hereunder from the Prior Lenders and shall be deemed to be Revolving Loans made by each of the Lenders under this Agreement (and all accrued and unpaid interest thereon shall begin to accrue interest at the rates set forth in this Agreement), and all Prior Letters of Credit shall be deemed to be Letters of Credit issued and outstanding under this Agreement (and all accrued unpaid fees thereon shall begin to accrue at the rates set forth in this Agreement). To effectuate the foregoing, immediately prior to the Closing Date the Administrative Agent shall calculate the Proportionate Share of each Lender in each Revolving Loan outstanding under the Prior Credit Agreement. Based upon such calculation, each Lender shall purchase from the Prior Lenders or sell to the other Lenders such shares in the outstanding Revolving Loans as the Administrative Agent determines is necessary to cause each Lender to hold Revolving Loans in a principal amount equal to such Lender’s Proportionate Share. On and after the Closing Date, this Agreement and the other Credit Documents shall amend, restate and supercede in their entirety and replace the Prior Credit Agreement and the Prior Credit Documents (other than the Leasehold Mortgages, any UCC filings and any filings made with the U.S. Patent and Trademark Office evidencing the Administrative Agent’s continuing Lien on and security interest in any of the Collateral); provided, however, that the execution and delivery of this Agreement and the other Credit Documents shall not (a) operate as a waiver of any right, power or remedy of the Prior Lenders under the Prior Credit Agreement and the other Prior Credit Documents, except to the extent expressly waived in this Agreement and the other Credit Documents, or (b) extinguish, impair or constitute a novation of any obligations of the Borrower or the Guarantors under the Prior Credit Agreement or the Prior Credit Documents except to the extent any such obligation is actually satisfied by a Borrower or a Guarantor thereunder. Promptly upon the closing of this Agreement and the receipt by the Lenders of its Notes, such Lenders that were also Prior Lenders under the Pri...
Termination of Prior Credit Agreement. On the First Amendment Effective Date, the total commitments under that certain Credit Agreement among AdMat, certain subsidiaries from time to time party thereto, Deutsche Bank AG New York Branch, as Administrative Agent and the Lenders party thereto dated as of June 30, 2003 (as amended) shall have been terminated, all loans thereunder shall have been repaid in full, together with interest thereon, and all other amounts owing pursuant to such agreement shall have been repaid in full and such agreement shall have been terminated on terms and conditions satisfactory to the Administrative Agent and the Required Lenders and be of no further force or effect and the creditors thereunder shall have terminated or released all security interests and Liens on the assets owned by AdMat and its Subsidiaries in a manner satisfactory to the Administrative Agent, it being understood and agreed that for all purposes under this Agreement, such repayment shall be deemed to occur simultaneously with the effectiveness of this Agreement;
Termination of Prior Credit Agreement. Contemporaneously with the initial advances hereunder, the Borrower shall have paid in full all principal, interest and other accrued and outstanding amounts under the Prior Credit Agreement, all commitments to extend further credit under the Prior Credit Agreement shall have been terminated, all Liens securing amounts owing under the Prior Credit Agreement shall have been released and the Prior Credit Agreement shall have become terminated and of no further force or effect (except for indemnity provisions that by their terms survive the termination of the Prior Credit Agreement).
Termination of Prior Credit Agreement. The Borrower shall have terminated the Prior Credit Agreement and paid all amounts owed thereunder and the parties thereto shall have executed and delivered a payoff letter in connection with such termination and repayment. It is acknowledged that the Facility Fee thereunder shall accrue through (and not beyond) the Closing Date and
Termination of Prior Credit Agreement. Administrative Agent shall have received (i) from the Company, a letter, in form and substance reasonably satisfactory to Administrative Agent, terminating the commitments of the lenders under the Prior Credit Agreement upon payment in full of all amounts due thereunder, and (ii) evidence satisfactory to it that all principal, interest, fees and other amounts owing by the Company to the agents and the lenders under the Prior Credit Agreement have been paid in full with the proceeds of the initial funding of Loans hereunder.
Termination of Prior Credit Agreement. The Borrower and the Banks agree that on the Closing Date: (i) all loans, fees and other amounts due and payable by the Borrower to the Banks under the Prior Credit Agreement shall be paid in full; and (ii) the Prior Credit Agreement shall be terminated in all respects.
Termination of Prior Credit Agreement. At the Closing, the ------------------------------------- Borrowers shall have delivered to the Agent executed Uniform Commercial Code-3 termination statements terminating the security interests of BankBoston, N.A. in and to the property and interests of Intirion Corporation and shall have taken all other steps which the Agent may require to terminate the BankBoston-Intirion Credit Agreement.
Termination of Prior Credit Agreement. Contemporaneously with the initial advances hereunder, the Company and its Subsidiaries shall have paid in full all principal, interest and other accrued and outstanding amounts under the Prior Credit Agreement (other than reimbursement obligations with respect to letters of credit issued under the Prior Credit Agreement that constitute Letters of Credit under this Agreement in accordance with Section 2.3.1), all Liens securing amounts owing under the Prior Credit Agreement shall have been released or assigned to the Agent and the Prior Credit Agreement shall have become terminated and of no further force or effect (except for indemnity provisions that by their terms survive the termination of the Prior Credit Agreement).
