Examples of Pay-Off Letter in a sentence
This Pay-Off Letter and Conversion Agreement may be executed in one or more counterparts, each of which shall be an original and all of which taken together shall constitute one agreement.
The undersigned, intending to be legally bound, hereby agree to the terms and conditions of this Pay-Off Letter and Conversion Agreement applicable to the undersigned.
Without limitation, each Pay-Off Letter shall set forth, with respect to the applicable Indebtedness, the dollar amount necessary to fully repay such Indebtedness at the Closing (including per diem amounts through the Closing Date), wire-transfer pay-off instructions for such Indebtedness, a reasonably detailed description of any Liens securing or in respect of such Indebtedness, and contact information for the named party debtor with respect to such Indebtedness.
This Pay-Off Letter and Conversion Agreement shall be governed by and construed in accordance with the laws of the State of New York.
To each holder of Indebtedness of the Company set forth on Section 2.2.1 of the Disclosure Schedules by wire transfer of immediately available funds to an account designated by such holder in writing, the aggregate amount of cash required to pay and discharge in full on the Closing Date all such Indebtedness as set forth in each holder’s Pay-Off Letter (the “Indebtedness Payoff Amount”).