Common use of DISCHARGE OF INDEBTEDNESS AND LIENS Clause in Contracts

DISCHARGE OF INDEBTEDNESS AND LIENS. There being no Funded Indebtedness (other than capital leases) to retire, Mill▇▇ ▇▇▇ the Company shall have provided for the payment in full by the Company of all extended credit from vendors at the Closing (other than customary accounts payable outstanding on 90 day or less payment terms in accordance with past practices). Mill▇▇ ▇▇▇ll have also provided for the termination of all Encumbrances of record on the properties of the Company, except for Permitted Exceptions. All liens or UCC filings against the Purchased Assets shall have been terminated as of the Closing, except for liens securing capital leases.