Common use of DISCHARGE OF INDEBTEDNESS AND LIENS Clause in Contracts

DISCHARGE OF INDEBTEDNESS AND LIENS. The Company shall have provided for the payment in full by the Company of all Funded Indebtedness (other than capital lease obligations set forth in Exhibit J) of the Company and 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). Such Funded Indebtedness, if any, as of December 31, 1997, is listed on the Financial Statements. Sellers shall 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 Company or Affiliates of the Company which are engaged in the Business, shall have been terminated as of the Closing.

DISCHARGE OF INDEBTEDNESS AND LIENS. The Company Sellers and the Companies shall have provided for the payment in full by the Company Companies of all Funded Indebtedness (other than capital lease obligations set forth in Exhibit J) of the Company Companies and 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). Such Funded Indebtedness, if any, as of December 31, 19971998, is listed on the Financial StatementsExhibit P hereto. The Sellers shall have also provided for the termination of all Encumbrances of record on the properties of the CompanyCompanies, except for Permitted Exceptions. All liens or UCC filings against the Company or Affiliates of the Company which are engaged in the Business, Companies shall have been terminated as of the Closing.