Failure to Obtain Gaming Licenses by February 2, 2008 Sample Clauses

Failure to Obtain Gaming Licenses by February 2, 2008. Notwithstanding anything to the contrary set forth herein or in any other Loan Document, in the event that (i) at any time, Golden HRC, LLC terminates its obligations under the Gaming Sublease or its obligations under the Gaming Sublease are otherwise terminated, and (ii) at the time of the occurrence of such termination, Gaming Borrower has not obtained all Gaming Licenses necessary to become the Qualified Gaming Operator of the Hotel/Casino Property, then Borrowers shall deliver to Lender, within three (3) Business Days following the date of such termination, a $7,000,000.00 Letter of Credit (the “Gaming Letter of Credit”), to be held and/or applied as follows:
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