Existing Debt Payoff Amount definition

Existing Debt Payoff Amount means the amount necessary to fully discharge the Existing Debt outstanding as of the Effective Time, including any fees and expenses due in connection with such discharge.
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Existing Debt Payoff Amount has the meaning set forth in Section 1.3.5 hereof.
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Examples of Existing Debt Payoff Amount in a sentence

  • As soon as practicable, but in no event later than five (5) days before the Closing Date, the Company shall deliver to Buyer a pay-off letter or similar statement in customary form from each of the Lenders setting forth the amount of each debt constituting the Existing Debt (such amounts collectively the "Existing Debt Payoff Amount").

  • The aggregate merger consideration due with respect to the securities of the Company shall consist of an amount of cash equal to the sum of (a) $11,000,000, minus (b) the Existing Debt Payoff Amount, minus (c) the Stockholders' Transaction Expenses as set forth on Schedule 2.5, as such amounts may be adjusted after the Closing pursuant to Article IX (the “Merger Consideration”).

  • At Closing, Buyer shall pay to the Lenders, an amount equal to the Existing Debt Payoff Amount, in cash, payable by wire transfer or delivery of other immediately available funds, as directed by the applicable Lender.