Common use of Termination of Existing Credit Agreement Clause in Contracts

Termination of Existing Credit Agreement. Group and its Subsidiaries shall have (i) repaid in full all Indebtedness and other obligations under or with respect to the Existing Credit Agreement and any related documents (or in the case of any such Indebtedness that is a guaranty, terminated such guaranty), (ii) terminated any commitments to lend or make other extensions of credit thereunder, (iii) delivered to the Administrative Agent a payoff letter with respect to the Existing Credit Agreement and all documents or instruments necessary to release all Liens securing the Indebtedness and other obligations of Group and its Subsidiaries under or with respect to the Existing Credit Agreement or any related documents (such payoff letter, documents and instruments to be in form and substance satisfactory to the Administrative Agent), and (iv) made arrangements reasonably satisfactory to the Administrative Agent with respect to the cancellation of any letters of credit outstanding under the Existing Credit Agreement (other than the Existing Rollover Letters of Credit) or the issuance of Letters of Credit to support the obligations of the Borrower with respect thereto.

Appears in 4 contracts

Samples: Credit Agreement (Warnaco Group Inc /De/), Credit Agreement (Warnaco Group Inc /De/), Credit Agreement (Warnaco Group Inc /De/)

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Termination of Existing Credit Agreement. Group and its Subsidiaries shall have (i) repaid in full all Indebtedness and other obligations under or with respect to the Existing Credit Agreement and any related documents (or in the case of any such Indebtedness that is a guaranty, terminated such guaranty), (ii) terminated any commitments to lend or make other extensions of credit thereunder, (iii) delivered to the Administrative Agent a payoff letter with respect to the Existing Credit Agreement and all documents or instruments necessary to release all Liens securing the Indebtedness and other obligations of Group and its Subsidiaries under or with respect to the Existing Credit Agreement or any related documents (such payoff letter, documents and instruments to be in form and substance satisfactory to the Administrative Agent), and (iv) made arrangements reasonably satisfactory to the Administrative Agent with respect to the cancellation of any letters of credit outstanding under the Existing Credit Agreement (other than the Existing Rollover Letters of Credit, as defined in the U.S. Facility) or the issuance of Letters of Credit (as defined in the U.S. Facility) to support the obligations of the U.S. Borrower with respect thereto.

Appears in 4 contracts

Samples: Credit Agreement (Warnaco Group Inc /De/), Credit Agreement (Warnaco Group Inc /De/), Credit Agreement (Warnaco Group Inc /De/)

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