Common use of Treatment of Company Indebtedness Clause in Contracts

Treatment of Company Indebtedness. The Company shall, and shall cause each of its Subsidiaries to, deliver a customary notice of prepayment (provided that such prepayment shall be contingent upon the occurrence of the Closing unless otherwise agreed in writing by the Company) and otherwise to facilitate at or prior to the Effective Time the termination of all commitments outstanding under the Company Credit Agreement and (w) the repayment in full of all obligations outstanding thereunder, (x) the release of all encumbrances, security interests and collateral in connection therewith, (y) the termination of all guaranties and the agreements evidencing subordination in connection therewith and (z) the termination or replacement of all letters of credit outstanding thereunder. In furtherance and not in limitation of the foregoing, the Company shall (A) use its reasonable best efforts to deliver to Parent at least five Business Days prior to the Closing Date a draft payoff letter and (B) use its reasonable best efforts to cause the administrative agent under the Company Credit Agreement to deliver to Parent on the Closing Date, a fully executed payoff letter, in each case, with respect to the Company Credit Agreement (the “Payoff Letter”) in form and substance customary for transactions of this type, which Payoff Letter shall (i) indicate the total amount required to be paid to fully satisfy all principal, interest, prepayment premiums, penalties, breakage costs or similar obligations related to any obligations under the Company Credit Agreement as of the anticipated Closing Date (and the daily accrual thereafter) (the “Payoff Amount”), (ii) state that upon receipt of the Payoff Amount, the Company Credit Agreement and related instruments evidencing the Company Credit Agreement shall be terminated (except for provisions in the Company Credit Agreement that, by their terms, survive such termination) and (iii) state that all encumbrances, guaranties, security interests, collateral and agreements to subordinate in connection therewith relating to the assets and properties of the Company or any of its Subsidiaries securing such obligations thereunder shall be, upon the payment of the Payoff Amount, automatically released and terminated.

Treatment of Company Indebtedness. (a) The Company shall, shall use reasonable best efforts (and shall cause each of its the Company Subsidiaries to, to use their reasonable best efforts) deliver a customary notice of prepayment (provided that such prepayment shall be contingent upon the occurrence of the Closing unless otherwise agreed in writing by the Company) all notices and otherwise take all other actions required to facilitate at or prior to the Effective Time the termination of all commitments outstanding under the Company Credit Agreement and (w) Facilities, the repayment in full of all obligations outstanding thereunder, (x) the release of all encumbrances, security interests Liens securing such obligations and collateral the release of all guarantees in connection therewith, (y) the termination of all guaranties and the agreements evidencing subordination in connection therewith and (z) the termination or replacement of all letters of credit outstanding thereunder. In furtherance and not in limitation of the foregoing, the Company shall (A) use its reasonable best efforts efforts, and shall cause the Company Subsidiaries to use their reasonable best efforts, to deliver to Parent least five (5) days prior to the Closing Date, a draft payoff letter and deliver to Parent at least five two (2) Business Days prior to the Closing Date a draft payoff letter and (B) use its reasonable best efforts to cause the administrative agent under the Company Credit Agreement to deliver to Parent on the Closing Date, a fully an executed payoff letter, in each case, case with respect to the each Company Credit Agreement Facility (the “Payoff Letter”) in form and substance customary for transactions of this type, from the agent on behalf of the Persons to whom such Indebtedness is owed, which Payoff Letter shall (i) indicate shall, among other things, include the total payoff amount required to be paid to fully satisfy all principal, interest, prepayment premiums, penalties, breakage costs or similar obligations related to any obligations under the Company Credit Agreement as of the anticipated Closing Date (and the daily accrual thereafter) (the “Payoff Amount”), (ii) state that upon receipt of the Payoff Amount, the Company Credit Agreement and related instruments evidencing the Company Credit Agreement shall be terminated (except for provisions in the Company Credit Agreement that, by their terms, survive such termination) and (iii) state provide that all encumbrances, guaranties, security interests, collateral and agreements to subordinate guarantees in connection therewith relating to the assets and properties of the Company or any of its Subsidiaries securing such obligations thereunder shall beshall, upon the payment of the amount set forth in the Payoff AmountLetter at or prior to the Effective Time, automatically be released and terminated. The Company shall use its reasonable best efforts to include in the Payoff Letter any proposed changes thereto that Parent reasonably requests. (b) Prior to the Closing Date, Parent shall consult with the Company in good faith with respect to any plans for Parent to (i) commence a tender offer, exchange offer and/or consent solicitation or change of control offer for any of the Company Notes prior to the Closing Date, the settlement of which, in each case, will be contingent on the Closing or (ii) redeem or satisfy and discharge any Company Notes, as of the Effective Time. To the extent reasonably requested by Parent, the Company shall provide reasonable and customary assistance, at Parent’s sole cost and expense, in connection therewith, including using reasonable best efforts to (i) take any actions reasonably necessary or appropriate to be taken to issue conditional redemption notices and/or conditional notices of offers to purchase the Company Notes, the redemption or repurchase of which closes at or following the Effective Time, or other documents necessary to commence a tender offer, exchange offer and/or consent solicitation or change of control offer, as the case may be, for the Company Notes and (ii) cause the applicable trustee to proceed with a tender offer, exchange offer and/or consent solicitation or change of control offer, as the case may be, for the Company Notes, and take any such action as is reasonably necessary to cause the applicable trustee and/or other applicable agent to send the notices of offers to purchase and/or redemption, consent solicitation statement and/or other documents necessary to commence such a transaction, to the holders of the Company Notes on or prior to the Closing Date, as applicable. Parent shall draft all documentation related to any tender offer, exchange offer and/or consent solicitation and shall provide advanced review and consultation to the Company and give reasonable consideration to the comments raised by the Company and its counsel. Notwithstanding the foregoing, the Company shall not be required to give a notice of redemption that is not conditional on Closing.

Treatment of Company Indebtedness. The Company shallshall use reasonable best efforts, and shall cause each of its applicable Subsidiaries to, deliver a customary notice of prepayment (provided that such prepayment shall be contingent upon the occurrence of the Closing unless otherwise agreed in writing by the Company) and otherwise to facilitate at or prior to the Effective Time the termination of all commitments outstanding under the Company Credit Agreement and (w) the repayment in full of all obligations outstanding thereunder, (x) the release of all encumbrances, security interests and collateral in connection therewith, (y) the termination of all guaranties and the agreements evidencing subordination in connection therewith and (z) the termination or replacement of all letters of credit outstanding thereunder. In furtherance and not in limitation of the foregoing, the Company shall (A) use its reasonable best efforts efforts, to deliver to Parent Pubco and SPAC at least five two Business Days prior to the Acquisition Merger Closing Date (with drafts being delivered in advance as reasonably requested by SPAC) (a) a draft copy of a payoff letter and (Bsubject to the delivery of funds as arranged by SPAC) use its reasonable best efforts to cause the administrative agent under the Company Credit Agreement to deliver to Parent on the Closing Date, a fully executed payoff letter, in each case, with respect to the Company Credit Agreement (the Indebtedness under the Credit Agreement and any related letter of credit, secured cash management agreement or secured hedge agreement, the “Payoff LetterSubject Indebtedness”) in customary form reasonably satisfactory to Pubco and substance customary for transactions of this typeSPAC, which Payoff Letter payoff letter shall (i) indicate the total amount required to be paid to fully satisfy all principal, interest, fees, prepayment premiums, termination costs, penalties, breakage costs or similar and any other monetary obligations related to any obligations then due and payable under the Company Credit Agreement Subject Indebtedness as of the anticipated Acquisition Merger Closing Date (and the daily accrual thereafter) (the “Payoff Amount”), (ii) state that upon receipt of the Payoff AmountAmount under such payoff letter, the Company Credit Agreement Subject Indebtedness and all related instruments evidencing the Company Credit Agreement loan documents shall be terminated (except for provisions in the Company Credit Agreement that, by their terms, survive such termination) and (iii) state provide that all encumbrances, guaranties, security interests, collateral Liens and agreements to subordinate guarantees in connection therewith with the Subject Indebtedness relating to the assets and properties of the Company or any of its Subsidiaries securing such the obligations thereunder under the Subject Indebtedness shall be, be released and terminated upon the payment of the Payoff Amount, automatically released Amount on the Acquisition Merger Closing Date and terminated(b) all documentation relating to the release of all related Liens and guarantees with respect to the Subject Indebtedness (including any termination statements on Form UCC-3 or other releases).

Treatment of Company Indebtedness. (1) The Company shall, and shall cause each of its Subsidiaries to, deliver a customary notice of prepayment (provided that such prepayment shall be contingent upon the occurrence of the Closing unless otherwise agreed in writing all notices and take all other actions reasonably requested by the Company) and otherwise Parent that are required to facilitate at or prior to in accordance with the Effective Time terms thereof the termination of all commitments outstanding under the Company Credit Agreement and (w) Facility, the repayment in full of all obligations obligations, if any, outstanding thereunder, (x) the release of all encumbrancesLiens, security interests if any, securing such obligations, and collateral the release of guarantees, if any, in connection therewith, in each case, on the Effective Date as of the Effective Time (y) such termination, repayment and releases, the termination of all guaranties and the agreements evidencing subordination in connection therewith and (z) the termination or replacement of all letters of credit outstanding thereunder“Credit Facility Termination”). In furtherance and not in limitation of the foregoing, the Company shall, and shall (A) cause its Subsidiaries to, use its reasonable best efforts to deliver to the Parent at least five two (2) Business Days prior to the Closing Date a draft anticipated Effective Date, an executed payoff letter and (B) use its reasonable best efforts to cause the administrative agent under the Company Credit Agreement to deliver to Parent on the Closing Date, a fully executed payoff letter, in each case, with respect to the Company Credit Agreement Facility (the a “Payoff Letter”) in form and substance customary for transactions of this typetype (and drafts reasonably in advance thereof), from the applicable agent on behalf of the Persons to whom such Indebtedness is owed, which Payoff Letter shall (i) indicate together with any related release documentation shall, among other things, include the total payoff amount required to be paid to fully satisfy and provide that all principal, interest, prepayment premiums, penalties, breakage costs or similar obligations related to any obligations under the Company Credit Agreement as of the anticipated Closing Date Liens (and the daily accrual thereafter) (the “Payoff Amount”guarantees), (ii) state that upon receipt of the Payoff Amountif any, the Company Credit Agreement and related instruments evidencing the Company Credit Agreement shall be terminated (except for provisions in the Company Credit Agreement that, by their terms, survive such termination) and (iii) state that all encumbrances, guaranties, security interests, collateral and agreements to subordinate granted in connection therewith relating to the assets assets, rights and properties of the Company and its Subsidiaries securing such Indebtedness and any other obligations secured thereby, shall, upon the payment of the amount set forth in a Payoff Letter on the Effective Date, be released and terminated. Notwithstanding anything herein to the contrary, in no event shall this Section 4.15(1) require the Company or any of its Subsidiaries securing such obligations thereunder shall beto cause the Credit Facility Termination to be effective unless and until the Effective Time has occurred and the Parent has provided or caused to be provided to the Company or its Subsidiaries funds (or the Parent has directed the Company or any of its Subsidiaries to use funds on their balance sheet) to pay in full the then-outstanding principal amount of and accrued and unpaid interest and fees under the Credit Facility. (2) To the extent required in order to consummate the transactions contemplated by this Agreement, upon the payment written request of the Payoff AmountParent, automatically released the Company shall, and terminatedshall cause its Subsidiaries to, as applicable, (a) execute and deliver, or cause to be executed and delivered, in each case, to the trustee under the Trust Indenture at or prior to the Effective Time, such documents or instruments as are required to comply with the requirements of the Trust Indenture and the Voting and Support Agreements in connection with the transactions contemplated by this Agreement, and (b) provide all assistance reasonably requested by the Parent in connection with obtaining the execution of such instruments by the other parties required to execute such instruments and take any other actions reasonably requested by the Parent (which shall not require any payment by the Company or its Subsidiaries) that are customary or necessary in connection therewith, including the execution and delivery by the Company, its Subsidiaries or their respective Representatives of customary officers’ certificates, supplemental indentures and legal opinions to the trustee under the Trust Indenture, to the extent such certificates, supplemental indentures and opinions are required thereby. Notwithstanding the foregoing, neither Company nor its Subsidiaries shall be required to execute and deliver any document or instrument (or cause any document or instrument to be executed or delivered) (i) that would be inaccurate in light of the facts and circumstances at the time delivered, or (ii) not conditioned on or delivered substantially concurrently with the occurrence of the Effective Time. To the extent required in order to consummate the transactions contemplated by this Agreement, the Parent and the Purchaser, as applicable, shall, prior to or contemporaneously with, and conditioned upon, the consummation of the transactions contemplated by this Agreement, execute such instruments and do such things as are necessary, in the reasonable determination of the Parent, to facilitate the compliance by the Company with Section 11.1 of the Trust Indenture.