Closing Date Release definition

Closing Date Release means the termination and release of all obligations of the Acquired Company and its Subsidiaries in respect of all Indebtedness for borrowed money set forth in Section 2.3(d)(iii) of the Disclosure Schedule (as defined in the Acquisition Agreement) of the Acquisition Agreement (including any amendments or modifications to or refinancing of such Indebtedness), including the termination and release of all security interests and guaranties in connection therewith, or provision therefor reasonably acceptable to the Arranger.

Closing Date Release shall have the meaning set forth in Section 3.1(b)(xv).

Examples of Closing Date Release in a sentence

• The proceeds of the Initial Term Loans, together with the proceeds of the ABL Revolving Loans drawn on the Closing Date will be used (i) to pay for the Closing Date Release, (ii) to pay the Acquisition Consideration and (iii) to pay the Transaction Expenses.

• At the Closing, Sellers shall have delivered to the Company a release dated the Closing Date ("Release") of all claims or rights of Sellers or any Affiliate of Sellers against the Company, including, without limitation, any right to the repayment of loans from Sellers to the Company, except for claims or rights which are set forth expressly in such release, which shall be in a form reasonably acceptable to Purchaser.

• EXHIBIT A Base Date Assets EXHIBIT B Forms of Executive Resignation and Release and Closing Date Release EXHIBIT C Wire Transfer Instructions STOCK PURCHASE AGREEMENT STOCK PURCHASE AGREEMENT, dated as of February 11, 2002 between AXE HOLDING CORP., a Delaware corporation ("Buyer") and XXXXXX GROUP INC., a Delaware corporation ("Seller").