Common use of Closing Date Refinancing Clause in Contracts

Closing Date Refinancing. (i) All amounts outstanding under the Existing Credit Agreement, and in each case all accrued interest thereon and other fees and amounts outstanding in respect thereof, shall have been paid in full, (ii) the commitments thereunder shall have been terminated, (iii) all Liens securing the Existing Credit Agreement shall have been released and (iv) the Administrative Agent shall have received reasonably satisfactory evidence of the foregoing. Notwithstanding anything to the contrary herein or in the Existing Credit Agreement, each Lender that is a Lender (as defined in the Existing Credit Agreement) under the Existing Credit Agreement immediately prior to the Closing Date hereby waives any rights to receive any “break funding” payments in connection with the prepayment of loans to occur on the Closing Date.