Discharge of Debt. If the Company or any Restricted Subsidiary has repaid, repurchased, defeased or otherwise discharged any Debt since the beginning of the period that is no longer outstanding on the transaction date or if the transaction giving rise to the need to calculate the Fixed Charge Coverage Ratio involves a discharge of Debt (in each case other than Debt Incurred under any revolving credit facility unless such Debt has been permanently repaid and the related commitment terminated), EBITDA and Interest Expense for the reference period will be calculated after giving effect on a pro forma basis to such repayment, repurchase, defeasance or other discharge of such Debt, including with the proceeds of such new Debt, as if such discharge had occurred on the first day of the reference period;
Discharge of Debt. Buyer shall discharge existing Bank debt due to Sterling Bank N.A. in an amount limited to $40,000.00 plus accrued interest to the date of Closing.
Discharge of Debt. Promptly pay and discharge or cause to be paid and discharged all of its Debts incurred in the ordinary course of business when they become due; provided, that (i) the Borrower shall pay and discharge its Debts in an aggregate principal amount less than U.S.$250,000 no later than thirty (30) days after the due date therefor, and (ii) the Borrower shall not be required to pay such Debts that are the subject of a Good Faith Contest by the Borrower.
Discharge of Debt. Promptly after the occurrence of the GCL Discharge Date or the GC PLC Discharge Date, the GCL Noteholders or the Trustee (as the case may be) shall confirm this fact in writing to the other parties to this Agreement.
Discharge of Debt. If the Company or any Restricted Subsidiary has repaid, repurchased, defeased or otherwise discharged any Debt since the beginning of the period that is no longer outstanding on the transaction date or if the transaction giving rise to the need to calculate the Fixed Charge Coverage Ratio or other ratio or pro forma calculation under this Indenture involves a discharge of Debt (in each case other than Debt Incurred under any revolving credit facility unless such Debt has been permanently repaid and the related commitment terminated), EBITDA and Interest Expense for the reference period will be calculated after giving effect on a pro forma basis to such repayment, repurchase, defeasance or other discharge of such Debt, including with the proceeds of such new Debt, as if such discharge had occurred on the first day of the reference period;
Discharge of Debt. Prior to or concurrently with the Closing, the Company shall pay and discharge in full (a) all outstanding principal, interest, fees, penalties and expenses due on indebtedness outstanding under the Bank Credit Agreement as of the Closing Date and (b) all other outstanding indebtedness of the Company as of the Closing Date, including, without limitation, all long-term debt and short-term notes payable reflected in the Supplemental Unaudited Financial Statements, but excluding: (i) the obligations evidenced by any Hedging Transactions; and (ii) trade payables and other indebtedness incurred by Company in the ordinary course of business or in accordance with this Agreement. Prior to the Closing, the Company shall pay, as the same becomes due, all interest, fees and expenses accruing during the period from March 31, 2008, through the Closing Date on indebtedness under the Bank Credit Agreement, without regard to when such indebtedness was incurred; provided, however, that there shall be no reduction of the Cash Portion as the result of the Company's payment of any such amounts. In addition, prior to or concurrently with the Closing, Seller and the Company shall cause all Liens and security interests held by the lender under the Bank Credit Agreement and any other holder of indebtedness of the Company to be released and terminated in full, so that as of the Closing Date, the Assets will be free and clear of all Liens except for Permitted Encumbrances.
Discharge of Debt. All Debt shall have been discharged by each Seller prior to Closing.
Discharge of Debt. The Bank shall not pay, discharge, settle or satisfy any claims, liabilities or obligations (absolute, accrued, asserted or unasserted, contingent or otherwise), other than the payment, discharge or satisfaction of (i) liabilities reflected or reserved against in, or contemplated by, the most recent financial statements (or the notes thereto) of the Bank, or (ii) liabilities incurred in the ordinary course of business consistent with past practice since the date of such financial statements.
Discharge of Debt. (i) Target shall have discharged all Related Party Debt, provided, that not more than $35,000 in Cash on Hand may be used to discharge -------- liabilities of any kind owed to Xxxxx Xxxxx and no Cash on Hand may be used to discharge any other Related Party Debt; and
Discharge of Debt. On the Closing Date, the Borrower shall have delivered to the Bank satisfactory evidence of the payment in full and discharge of all Debt in excess of that permitted in Section .
