Common use of Existing Credit Facilities Clause in Contracts

Existing Credit Facilities. Evidence satisfactory to the Agent that the commitments to extend credit under the Existing Credit Facilities have been terminated and that all principal, interest, charges and fees due thereunder have been paid or that arrangements reasonably satisfactory to the Agent for the payment thereof have been made by the Company (the Company and each Bank party hereto that is a lender under the Existing Credit Facilities acknowledging that such commitments shall be terminated simultaneously with the closing hereunder);