Common use of Indebtedness Payment Clause in Contracts

Indebtedness Payment. At the Closing, CII shall (or shall cause -------------------- a Subsidiary to) (i) pay to BOA (for the benefit of the financial institutions party to the BOA Loan Agreement), by wire transfer of immediately available funds, an amount in cash equal to the Bank Indebtedness Payment, (ii) pay to an account or accounts designated by a Redeeming Stockholders' Representative (for the benefit of the holders of the Subordinated Notes), by wire transfer of immediately available funds, an amount in cash equal to the Subordinated Notes Indebtedness Payment, and (iii) pay to an account or accounts designated by a Redeeming Stockholders' Representative (for the benefit of the holders of the Predecessor Subordinated Notes), by wire transfer of immediately available funds, an amount in cash equal to the Predecessor Subordinated Notes Indebtedness Payment. At the Closing, a Redeeming Stockholders' Representative shall deliver to CII and the New Investors written statements from BOA, the holders of the Subordinated Notes (or their representatives), and the holders of the Predecessor Subordinated Notes (or their representatives), stating the amount due, as of the Closing Date, for the Bank Indebtedness Payment, the Subordinated Notes Indebtedness Payment, and the Predecessor Subordinated Notes Indebtedness Payment, respectively.

Indebtedness Payment. At the Closing, CII shall (or shall cause Buyer will pay to accounts -------------------- designated by the Shareholders' Representative, by wire transfer of immediately available funds, a Subsidiary to) portion of the Purchase Price equal to the Indebtedness Payment as follows: (i) pay to BOA Bank of America (for the benefit of the financial institutions party to the BOA Loan Agreement), by wire transfer of immediately available funds, ) an amount in cash equal to the Bank Indebtedness Payment, ; (ii) pay to an account or accounts designated by a Redeeming Stockholders' Representative (for the benefit of the holders of the Subordinated Notes), by wire transfer of immediately available funds, Notes an amount in cash equal to the Subordinated Notes Indebtedness Payment, ; and (iii) pay to an account or accounts designated by a Redeeming Stockholders' Representative (for the benefit of the holders of the Predecessor Subordinated Notes), by wire transfer of immediately available funds, Preferred Stock an amount in cash equal to the Predecessor Subordinated Notes Preferred Stock Indebtedness Payment. At the Closing, a Redeeming Stockholdersthe Shareholders' Representative shall deliver to CII and the New Investors Buyer written statements from BOABank of America, the holders of the Subordinated Notes (or their representatives), ) and the holders of the Predecessor Subordinated Notes (or their representatives), Preferred Stock stating the amount amounts due, as of the Closing Date, for the Bank Indebtedness Payment, the Subordinated Notes Indebtedness Payment, Payment and the Predecessor Subordinated Notes Preferred Stock Indebtedness Payment, respectively.