Annual Clean-Up Period. Notwithstanding anything to the contrary, on an annual basis and in no event later than thirty (30) days prior to the Maturity Date, Borrower shall make one or more payments in amounts sufficient to reduce the outstanding principal balance under the New Note to $0.00 and maintain such balance for a period of not less than thirty (30) consecutive days (the “Annual Clean-Up Period”). Borrower acknowledges and aggress that no proceeds of the Revised LOC shall be available during the Annual Clean-Up Period.
Appears in 5 contracts
Samples: Extension and Modification Agreement, Renewal, Extension and Modification Agreement, Renewal, Extension and Modification Agreement (Plainscapital Corp)
