The Borrower and its Subsidiaries shall have repaid all outstanding Indebtedness (other than Indebtedness permitted under Section 8.03 ) (the “ Existing Indebtedness ”) excluding contingent indemnification or reimbursement obligations that have not been asserted, and terminated all commitments to extend credit with respect to the Existing Indebtedness, and all Liens securing the Existing Indebtedness shall have been released.
refinance of existing indebtedness