Common use of Matters Relating to Existing Indebtedness Clause in Contracts

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.

Appears in 4 contracts

Samples: Credit Agreement (Covanta Energy Corp), Credit Agreement (Covanta Energy Corp), Credit Agreement (Danielson Holding Corp)

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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 "DIP Tranche A L/Cs" Cs and "DIP Tranche X X/Cs" under the DIP Credit Agreement Cs (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 thereofsupported) with letters of credit issued under the New L/C Facility this Agreement, (c) the Existing Detroit L/Cs shall be replaced with letters Letters of credit Credit issued under the Detroit L/C Credit Agreement as the Detroit L/CsFacility Agreement, (d) each letter of credit (if any) issued or deemed issued under the DIP Credit Agreement other than the "DIP Tranche A L/Cs" Cs and "DIP Tranche X X/Cs" 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 (including CPIH Subsidiaries) under the DIP Credit Agreement shall have been delivered to Administrative Agent to the extent required by Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Covanta Energy Corp)

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 "DIP Tranche A L/Cs" Cs and "DIP Tranche X XB L/Cs" under the DIP Credit Agreement Cs (other than the Existing Detroit L/Cs) shall be replaced replaxxx (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 Letters of credit issued under the Detroit L/C Credit Agreement as the Detroit L/CsCredit, (d) each letter of credit (if any) issued or deemed issued under the DIP Credit Agreement other than the "DIP Tranche A L/Cs" Cs and "DIP Tranche X XB L/Cs" Cs shall have been cash collateralized pursuant to arrangements arranxxxents 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 (including CPIH Subsidiaries) under the DIP Credit Agreement shall have been delivered to Administrative Agent to the extent required by Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Danielson Holding Corp)

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 "DIP Tranche A L/Cs" Cs and "DIP Tranche X XB L/Cs" under the DIP Credit Agreement Cs (other than the Existing Detroit L/Cs) shall be replaced replaxxx (or any further drawings thereunder shall be fully supported pursuant to arrangements satisfactory to DIP Lenders and the issuers thereofsupported) with letters of credit issued under the New L/C Facility this Agreement, (c) the Existing Detroit L/Cs shall be replaced with letters Letters of credit Credit issued under the Detroit L/C Credit Agreement as the Detroit L/CsFacility Agreement, (d) each letter of credit (if any) issued or deemed issued under the DIP Credit Agreement other than the "DIP Tranche A L/Cs" Cs and "DIP Tranche X XB L/Cs" Cs shall have been cash collateralized pursuant to arrangements arranxxxents 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 (including CPIH Subsidiaries) under the DIP Credit Agreement shall have been delivered to Administrative Agent to the extent required by Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Danielson Holding Corp)

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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 "DIP Tranche A L/Cs" Cs and "DIP Tranche X X/Cs" under the DIP Credit Agreement Cs (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 Letters of credit issued under the Detroit L/C Credit Agreement as the Detroit L/CsCredit, (d) each letter of credit (if any) issued or deemed issued under the DIP Credit Agreement other than the "DIP Tranche A L/Cs" Cs and "DIP Tranche X XB L/Cs" 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 (including CPIH Subsidiaries) under the DIP Credit Agreement shall have been delivered to Administrative Agent to the extent required by Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Covanta Energy Corp)

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