Debt Release Letters definition
Debt Release Letters means release letters in customary form and reasonably acceptable to Purchaser produced by each holder of Closing Indebtedness terminating the obligations of Seller (solely to the extent constituting a Lien on the Shares) and the Alkali Group under such Closing Indebtedness and releasing Liens on the Shares and the assets and properties of the Alkali Group related thereto.
Debt Release Letters means (i) those release letters produced by each holder of Closing Indebtedness terminating the obligations of Seller (solely to the extent constituting a Lien on the Acquired Interests or on the assets of the Alkali Group) and the Alkali Group under such Closing Indebtedness and releasing Liens on the Acquired Interests and the assets and properties of the Alkali Group related thereto and (ii) that certain release produced by Seller Parent in order to evidence the release of the Company and the other members of the Alkali Group from their obligations under the subsidiary guarantees that guarantee the issuer’s obligations under the indentures governing Seller Parent’s unsecured notes, in each case delivered pursuant to Section 2.3(a)(v).
Debt Release Letters shall have the meaning set forth in Section 2.4(a)(vii).
Examples of Debt Release Letters in a sentence
The Sellers shall provide the Purchaser with final drafts of the Debt Release Letters no later than two (2) Business Days prior to the Closing.