Matters Relating to Existing Indebtedness. (i) Termination of DIP Credit Agreement and Related Liens. (a) Indebtedness consisting of funded amounts outstanding under the DIP Credit Agreement on the Closing Date shall have been repaid in full in cash, (b) all undrawn "Tranche A L/Cs" and "Tranche X X/Cs" under the DIP Credit Agreement (other than the Existing Detroit L/Cs) shall be replaced (or any further drawings thereunder shall be fully supported pursuant to arrangements satisfactory to DIP Lenders and the issuers thereof) with letters of credit issued under the New L/C Facility Agreement, (c) the Existing Detroit L/Cs shall be replaced with letters of credit issued under the Detroit L/C Credit Agreement as the Detroit L/Cs, (d) each letter of credit (if any) issued or deemed issued under the DIP Credit Agreement other than the "Tranche A L/Cs" and "Tranche X X/Cs" shall have been cash collateralized pursuant to arrangements reasonably satisfactory to the issuer of such letter of credit, or cancelled and returned undrawn, or reimbursed, (e) all commitments to lend or make other extensions of credit under the DIP Credit Agreement shall have terminated (except that the participations of DIP Lenders purchased in the letters of credit, if any, referred to in clause (d) above shall continue), and (f) all documents or instruments necessary to release all Liens securing Indebtedness or other obligations of Borrowers and their Subsidiaries under the DIP Credit Agreement shall have been delivered to Administrative Agent to the extent required by Administrative Agent.
Matters Relating to Existing Indebtedness. (a) On the Initial Borrowing Date and after giving effect to the Transaction, neither Holdings nor any of its Subsidiaries shall have any preferred Equity Interests (including preferred stock) Capitalized Lease Obligations or Indebtedness for borrowed money outstanding except for (i) the Loans and Letters of Credit, (ii) the Senior Notes, (iii) the Existing Senior Subordinated Notes permitted to remain outstanding after giving effect to the refinancing transactions described in Section 6.07(b) and (iv) certain other indebtedness for borrowed money and Capitalized Lease Obligations of the U.S. Borrower and its Subsidiaries as is listed on Schedule 8.21 in an aggregate outstanding principal amount not to exceed $12,000,000 (with the Indebtedness described in this clause (iv) being herein called the “Existing Other Indebtedness” and, together with the Existing Senior Subordinated Notes described in the preceding clause (iii), the “Existing Indebtedness”).
Matters Relating to Existing Indebtedness. On the Closing Date, (i) Company and its Subsidiaries (a) repaid in full all Indebtedness outstanding under the then existing credit agreement, (b) terminated any commitments to lend or make other extensions of credit thereunder, (c) delivered to Administrative Agent all documents or instruments necessary to release all Liens securing Indebtedness or other obligations of Company and its Subsidiaries thereunder, and (d) made arrangements satisfactory to Administrative Agent with respect to the cancellation or replacement of any letters of credit outstanding thereunder or the issuance of Letters of Credit to support the obligations of Company and its Subsidiaries with respect thereto and (ii) Company and its Subsidiaries had no existing Indebtedness outstanding other than existing Capital Leases and existing Indebtedness in an aggregate amount not exceeding $20,000,000.
Matters Relating to Existing Indebtedness. On the Closing Date, Borrower and its Subsidiaries shall have (i) repaid in full all Existing Indebtedness outstanding or defeased such Existing Indebtedness pursuant to escrow agreements or other arrangements which shall be in form and substance satisfactory to Arranging Agent and Administrative Agent, (ii) terminated any commitments to lend or make other extensions of credit under the documentation governing the Existing Indebtedness, and (iii) delivered to Arranging Agent and Administrative Agent all documents or instruments necessary (including termination statements and discharges and releases of mortgages) to release all Liens securing the Existing Indebtedness and release letters in form and substance satisfactory to Arranging Agent and Administrative Agent from the holders of the Existing Indebtedness releasing their claims and giving further assurances as to any other actions or documents necessary to release all Liens securing such Existing Indebtedness.
Matters Relating to Existing Indebtedness. (a) Contributor shall use reasonable best efforts (including without limitation the payment of the transfer fees or other fees or costs imposed or required to be paid by any Existing Lender) to obtain, at or prior to Closing and at no cost to the Partnership, (i) the unconditional consent of the Existing Lenders specified on Schedule 2.5 to the consummation of the Transactions (including without limitation the Drop-Down) and (ii) a confirmation by such Existing Lenders that they shall have no recourse to the Partnership, the General Partner or other Affiliates of the Partnership or the assets of any of them or the assets of the Acquired Partnership other than the Property except that an Existing Lender may have recourse to the Partnership and the other assets the Acquired Partnership in those instances where such Existing Lender has recourse (without giving effect to the Transactions) to Messrs. Maurxxx Xxxxx xxx Sidnxx Xxxxxx xx their capacities as general partners of Contributor or otherwise (the liabilities for which such recourse against Messrs. Forbes and Cohex xxxsts, the "Recourse Liabilities").
Matters Relating to Existing Indebtedness. 10 2.4 Matters Relating to Management Agreement and Asset Management Fee............11 Article III Closing......................................................................12
Matters Relating to Existing Indebtedness. (a) KBLP shall use reasonable best efforts to obtain, at or prior to Closing, the unconditional consent of Aetna to the consummation of the Transactions (including without limitation the amendment of the Management Agreement described in Section 2.4), together with an estoppel certificate from Aetna, in form and substance reasonably acceptable to the Sonesta Partners (the "Aetna Consent/Estoppel").
Matters Relating to Existing Indebtedness. On the Closing Date, Borrower and its Subsidiaries shall have (i) repaid in full all Existing Indebtedness outstanding or defeased such Existing Indebtedness pursuant to escrow agreements or other arrangements which shall be in form and substance satisfactory to Arranging Agent and Administrative Agent, (ii) terminated any commitments to lend or make other extensions of credit under the documentation governing the Existing Indebtedness, (iii) deposited in the Collateral Account amounts sufficient to repay in full or defease all Remaining Existing Indebtedness, and (iv) delivered to Arranging Agent and Administrative Agent all documents or instruments necessary (including termination statements and discharges and releases of mortgages) to release all Liens securing the Existing Indebtedness and release letters in form and substance satisfactory to Arranging Agent and Administrative Agent from the holders of the Existing Indebtedness releasing their claims and giving further assurances as to any other actions or documents necessary to release all Liens securing such Existing Indebtedness. EXECUTION
Matters Relating to Existing Indebtedness. On the Closing Date, (i) Holdings and its Subsidiaries shall have (a) repaid in full all Indebtedness outstanding under the then Existing Credit Agreement, (b) terminated any commitments to lend or make other extensions of credit thereunder, and (c) delivered to Administrative Agent all documents or instruments necessary to release all Liens securing Indebtedness or other obligations of Holdings and its Subsidiaries thereunder, other than Liens permitted pursuant to Section 7.2A, and (ii) Holdings and its Subsidiaries shall have no existing Indebtedness outstanding other than (a) the Senior Subordinated Notes, (b) existing Capital Leases and (c) other existing Indebtedness in an aggregate amount not exceeding $2,500,000.
Matters Relating to Existing Indebtedness of Holdings and its ------------------------------------------------------------- Subsidiaries. ------------
