Common use of Compliance with Lease Clause in Contracts

Compliance with Lease. Without limiting Section 2.5 in any manner, the Parties agree that (i) nothing in this Section 5.1 is intended, nor shall it be construed, to limit, vitiate or supersede any of the provisions, terms and conditions of the Lease and (ii) subject to the foregoing clause (i) and compliance with any requirements of the Lease (and subject, further, to the final sentence of this Section 5.1.7), so long as Tenant is a Controlled Subsidiary of CEC and Manager is a wholly owned subsidiary of CEC, Tenant and Manager may modify the requirements of this Section 5.1 with respect to the subject matter thereof from time to time in their discretion; provided that any such modifications shall be of no force or effect unless they (x) are Non-Discriminatory and (y) do not conflict with any other provisions of this Agreement or any other Lease/MLSA Related Agreement; and provided, further, that if any such modification would have a material adverse effect on any Party, then such modification shall require the prior written consent of such Party in its sole discretion. Notwithstanding the foregoing or anything otherwise contained in this Agreement, for as long as the indebtedness secured by the Existing Landlord’s Lender remains outstanding (or for so long as any Landlord Financing Documents prohibit modification of this Agreement absent the applicable Landlord’s Lender’s consent), no modification of any nature of this Agreement pursuant to Section 5.1.7 (in the case of any Landlord’s Lender other than the Existing Landlord’s Lender, to the extent such modification requires such Landlord’s Lender’s consent under such Landlord Financing Documents) shall be permitted absent Landlord’s express written consent, and any purported modification as to which Landlord shall not have consented expressly in writing shall be void ab initio.

Appears in 4 contracts

Samples: Management and Lease Support Agreement (Vici Properties Inc.), Management and Lease Support Agreement (CAESARS ENTERTAINMENT Corp), Management and Lease Support Agreement (CAESARS ENTERTAINMENT Corp)

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