Examples of Payoff Letter in a sentence
By execution of this letter agreement all parties hereto agree and acknowledge that all requirements contained in clauses (C) and (D) of the definition of “Termination Date” in the Payoff Letter shall be deemed satisfied.
The Specified Insurers hereby acknowledge and agree that the Agent, the Insured Lender (as defined in the Payoff Letter) and the Lenders (as defined in the New Credit Agreement) are third party beneficiaries of this letter agreement.
The Termination Date (as defined in the Payoff Letter) shall have occurred.
The Specified Insurers, in exchange for their commitment to make certain payments to the Insured Lender (as defined in the Payoff Letter) (i) shall be released from all obligations under the Insurance Policy and (ii) shall receive deferred payments as described below, such payment payable by the Borrower to the Specified Insurers.