Common use of Existing Indebtedness of the Loan Parties Clause in Contracts

Existing Indebtedness of the Loan Parties. The Term Principal Debt under, and as defined in, the Restated Credit Agreement, other than as to the Third Term Loan thereunder, shall be repaid in full on the Closing Date with a Revolving Loan hereunder, and all of the other existing Indebtedness for borrowed money of the Borrower and its Subsidiaries (other than Indebtedness permitted to exist pursuant to Section 7.02) shall be repaid in full and all security interests related thereto shall be terminated on or prior to the Closing Date. The Borrower shall deliver, or cause to be delivered, to the Administrative Agent a payoff letter executed by ▇▇▇▇▇ Fargo Bank, National Association in Proper Form in connection with the existing Indebtedness of Chusei. The Borrower shall also deliver, or cause to be delivered, to the Administrative Agent the form of any releases in Proper Form necessary to release any collateral of any kind or character given as security for the obligation of Chusei to ▇▇▇▇▇ Fargo Bank, National Association under such Indebtedness and the documents executed in connection therewith.[Reserved].

Existing Indebtedness of the Loan Parties. The Term Principal Debt under, and as defined in, the Restated Credit Agreement, other than as to the Third Term Loan thereunder, shall be repaid in full on the Closing Date with a Revolving Loan hereunder, and all of the other existing Indebtedness for borrowed money of the Borrower and its Subsidiaries (other than Indebtedness permitted to exist pursuant to Section 7.02) shall be repaid in full and all security interests related thereto shall be terminated on or prior to the Closing Date. The Borrower shall deliver, or cause to be delivered, to the Administrative Agent a payoff letter executed by ▇▇▇▇▇ Fargo Bank, National Association in Proper Form in connection with the existing Indebtedness of Chusei. The Borrower shall also deliver, or cause to be delivered, to the Administrative Agent the form of any releases in Proper Form necessary to release any collateral of any kind or character given as security for the obligation of Chusei to ▇▇▇▇▇ Fargo Bank, National Association under such Indebtedness and the documents executed in connection therewith.[Reserved]therewith.