Pay-Off Letter. The Administrative Agent shall have received satisfactory pay-off letters for all existing Indebtedness required to be repaid and which confirms that all Liens upon any of the property of the Loan Parties constituting Collateral will be terminated concurrently with such payment and all letters of credit issued or guaranteed as part of such Indebtedness shall have been cash collateralized or supported by a Letter of Credit.

Pay-Off Letter. The Administrative Agent shall have received satisfactory pay-off letters for all existing Indebtedness to be repaid from the proceeds of the initial Borrowing, confirming that all Liens upon any of the property of the Loan Parties constituting Collateral will be terminated concurrently with such payment and all letters of credit issued or guaranteed as part of such Indebtedness shall have been cash collateralized or supported by a Letter of Credit.

Pay-Off Letters. The Administrative Agent shall have received satisfactory pay-off letters for all existing Indebtedness to be repaid from the proceeds of the initial Borrowing, confirming that all Liens in connection with such Indebtedness upon any of the property of the Loan Parties constituting Collateral will be terminated concurrently with such payment and all letters of credit issued or guaranteed as part of such Indebtedness shall have been cash collateralized or supported by a Letter of Credit.

Pay-Off Letters. The Administrative Agent shall have received evidence of the redemption and termination of the Existing Junior Secured Notes and confirmation that all Liens upon any of the property of the Loan Parties constituting Collateral will be terminated concurrently with such redemption, and reasonably satisfactory pay-off letters for all Indebtedness under the Existing Credit Agreement, that certain Receivables Purchase Agreement, dated as of March 3, 2016, among [[Organization A:Organization]] Funding, LLC, a Nevada limited liability company, [[Organization A:Organization]], a Wisconsin corporation, as initial servicer, and Wells Fargo Bank, N.A., as purchaser and as agent for the purchaser, as it may have been amended, restated, supplemented or otherwise modified from time to time prior to the date hereof.