Common use of Payoff Clause in Contracts

Payoff. No later than three business days prior to the Closing Date, the Company shall deliver or cause to be delivered to Parent customary payoff letters in respect of the Existing Credit Agreement and customary lien release documentation providing for the automatic and irrevocable release of all guarantees and security interests provided by the Company and/or its Subsidiaries under such Indebtedness, in each case, in form and substance reasonably acceptable to Parent from the holders of such Indebtedness (or the agents representing the foregoing).

Payoff. No later than The Company shall obtain and deliver to Parent (including drafts thereof at least three business days (3) Business Days prior to the Closing Date), the Company shall deliver or cause to be delivered to Parent a customary payoff letters in letter, with respect of to the Existing Credit Agreement and customary lien release documentation providing Facility, which shall provide for the automatic and irrevocable release of all guarantees and security interests provided by Liens related thereto (collectively, the Company and/or its Subsidiaries under such Indebtedness, in each case, in form and substance reasonably acceptable to Parent from the holders of such Indebtedness (or the agents representing the foregoing“Payoff Deliverables”).