Payoff Statements definition
Examples of Payoff Statements in a sentence
Notwithstanding the foregoing, at or prior to Closing, the Purchasers shall pay the Bank Payoff Amount as directed by the Bank Payoff Statements and the Seller shall repay in full any shareholder, member or similar loans from Seller or its Affiliates to the Owners (“Intercompany Debt”).
The Sellers shall have provided the Purchaser with evidence, reasonably acceptable to the Purchaser (the "Payoff Statements"), from each of the parties listed below, that the payment of the amount set forth in each such Payoff Statement shall be (i) sufficient to constitute payment in full of the amount owed to such party by the Sellers and/or the Selling Shareholders, and (ii) release any lien, encumbrance or other charge held by such party against any of the Purchased Assets.
Notwithstanding any payment by the Buyer of the amounts provided for in the Payoff Statements to the Persons identified therein, the Seller Parties shall be and continue to be liable, on and after the Closing Date, for the payment of all Indebtedness of each of the Sellers.
Owner/Servicer shall pay to Subservicer the aggregate amount of fees as set forth on Exhibit III for the Netting of Escrows for Payoff Statements and Quarterly Reporting of Credit Scores.
Notwithstanding the payment by the Buyer of the amount of the Transaction Expenses as identified by the Seller and the amounts provided for in the Payoff Statements to the Persons identified therein, the Seller shall be and continue to be liable, on and after the Closing Date, for payment of (i) all Transaction Expenses and (ii) all Indebtedness of all members of the Target Group existing as of the Closing Date.