Failure to Receive Electorate Approval. In the event for any reason the Electorate Approval is not received, then, commencing with the Initial Repayment Date, and on the last Business Day of each month thereafter through the Maturity Date, the Borrower shall cause the Outstanding Loan Amount to be repaid in installments payable on each such Repayment Date (each such payment, an “Amortization Payment”), with the final installment in an amount equal to the entire Outstanding Loan Amount to be repaid on the Maturity Date. Each Amortization Payment shall be that amount of principal which will result in equal (as nearly as possible) aggregate Amortization Payments over the Repayment Period plus interest accrued and unpaid through such Repayment Date.
Appears in 6 contracts
Samples: Possession Credit Agreement, Possession Credit Agreement, Credit Agreement
