Termination of Existing Indebtedness. All existing Indebtedness for borrowed money of the Credit Parties (other than the Indebtedness listed on Schedule 6.1(b)) shall have been repaid in full and all Liens relating thereto terminated.
Termination of Existing Indebtedness. Evidence that (i) all existing Indebtedness not otherwise permitted by Section 7.07 have been or concurrently with the Closing Date are being terminated, and all outstanding amounts thereunder have been paid in full and (ii) all Liens securing such Indebtedness have been or concurrently with the Closing Date are being released;
Termination of Existing Indebtedness. All existing Indebtedness (except for Indebtedness permitted by the terms of this Credit Agreement and the Existing Credit Agreement which is amended and restated hereby) for borrowed money of the Borrower and its Subsidiaries shall have been repaid in full and all commitments relating thereto shall have been terminated and all Liens relating thereto shall have been terminated.
Termination of Existing Indebtedness. Receipt by the Administrative Agent of evidence that the Existing Credit Agreement will be simultaneously terminated upon execution of this Credit Agreement and all loans or other amounts outstanding under the Existing Credit Agreement shall be repaid in full.
Termination of Existing Indebtedness. Receipt by the Administrative Agent of evidence that the Existing Credit Agreements concurrently with the Closing Date are being terminated, all Liens securing obligations under the Existing Credit Agreements concurrently with the Closing Date are being released and all loans and other obligations under the Existing Credit Agreements are being paid in full concurrently with the Closing Date.
Termination of Existing Indebtedness. The Indebtedness, liabilities and obligations of (i) the Borrowers under the Existing Credit Agreement shall have been (or substantially simultaneously with the borrowing of the Comdata Facilities, are being) refinanced or repaid, (ii) the Target and its Subsidiaries in respect of that certain Credit Agreement dated as of November 9, 2007 and amended and restated as of July 10, 2012 (as amended) among Ceridian LLC, the other borrowers party thereto, the lenders party thereto and Deutsche Bank AG New York Branch, as administrative agent (including all guaranty obligations of the Target and its Subsidiaries in respect of such Credit Agreement and the indebtedness evidenced thereby), shall have been (or substantially simultaneously with the borrowing of the Comdata Facilities, are being) repaid, released or terminated, and (iii) the Target and its Subsidiaries in respect of the Indentures dated as of July 10, 2012, October 1, 2013 and June 5, 2014 shall have been (or substantially simultaneously with the borrowing of the Comdata Facilities, are being) repaid, redeemed, defeased, satisfied, discharged, released or terminated (and, in each case under clauses (i), (ii) and (iii), all Liens on assets of the Target and its Subsidiaries securing such Indebtedness, liabilities and obligations shall have been released concurrently with the Initial Borrowing Date).
Termination of Existing Indebtedness. The Administrative Agent shall have received evidence that all Indebtedness, other than Indebtedness permitted by Section 7.02 hereunder, has been or concurrently with the Closing Date is being terminated and all Liens securing obligations under such Indebtedness have been or concurrently with the Closing Date are being released;
Termination of Existing Indebtedness. The Administrative Agent shall have received evidence reasonably satisfactory to the Administrative Agent that (i) the Existing Credit Facilities shall be simultaneously terminated and all amounts thereunder shall be simultaneously paid in full (other than any letters of credit issued pursuant to the Existing Credit Facilities, for which substitute payment assurances acceptable to the issuer thereof have been made or which shall be Existing Letters of Credit hereunder) and arrangements reasonably satisfactory to the Administrative Agent shall have been made for the termination of Liens and security interests granted in connection therewith and (ii) all other existing Indebtedness of the Loan Parties and their Restricted Subsidiaries (other than Indebtedness permitted pursuant to Section 6.2) shall be repaid in full and all security interests related thereto shall be terminated on or prior to the Closing Date.
Termination of Existing Indebtedness. All existing Indebtedness pursuant to that certain Credit Agreement dated as of October 31, 2001, as amended, among the Borrower, the guarantors party thereto, the lenders party thereto, and Wachovia Bank, National Association (formerly known as First Union National Bank), as Administrative Agent, shall have been repaid in full and terminated or shall be paid in full and terminated simultaneously with the effectiveness of this Agreement.
Termination of Existing Indebtedness. Receipt by the Administrative Agent of evidence that the Loan Parties shall have repaid (or shall repay concurrently with the initial funding of the Term Loan A hereunder) in full all existing material Indebtedness constituting debt for borrowed money (other than Indebtedness permitted by Section 8.1 hereunder) and all Liens securing such Indebtedness shall have been (or shall, substantially concurrently with the Credit Extension to occur on the Funding Date, be) released (the “Funding Date Refinancing”).
