Revolving Loans Payoff Sample Clauses

Revolving Loans Payoff. As of the Contribution Date, Citation shall have received a payoff letter and payoff instructions from Agent Bank stating the aggregate obligations with respect to the Revolving Loans outstanding to all Citation Debt Holders. Effective as of the Contribution Date, Citation will make a cash payment to the Agent Bank equal to 100% of such obligations (the “Revolver Consideration”). In connection with the payoff of the Revolving Loans, Agent Bank shall disburse amounts paid to it with respect to the Revolving Loans to the Citation Debt Holders pro rata according to their respective Revolving Commitments (as defined in the Credit Agreement).