Common use of Compliance with Regulatory Agencies Clause in Contracts

Compliance with Regulatory Agencies. Each party specifically acknowledges that the other party may be subject to the gaming and licensing requirements of various jurisdictions and may be obliged to take reasonable efforts to determine the suitability of its business associates. Each party agrees to cooperate fully with the other party in providing the other party with any information that the requesting party deems necessary or appropriate in assuring itself that the other party possesses the good character, honesty, integrity and reputation applicable to those engaged in the gaming industry, and each party specifically warrants and represents to the other that there is nothing in its background, history, or reputation that would be deemed unsuitable under the standards applicable to the gaming industry. Information provided by either party pursuant to this Agreement shall be kept confidential by the other party to the extent reasonably possible and not used for any purpose other than compliance matters. If, during the term of this Agreement, either party is notified by any of the Nevada gaming authorities that the conduct of business with the other party (or any of its subsidiaries or affiliates) will jeopardize the first party’s (or any of its subsidiaries’ or affiliates’) license or ability to be licensed, or if either party reasonably concludes that the other party fails to meet the criteria set forth above, this Agreement shall terminate upon written notice (such notice shall provide a detailed explanation as to why the other party fails to meet the criteria set forth above) by the complaining party unless the other party is able, within sixty (60) days of such notice, to cure any such condition to the satisfaction of the applicable Nevada gaming authority.

Compliance with Regulatory Agencies. Each party Party specifically acknowledges that the other party Party may be subject to the gaming and licensing requirements of various jurisdictions and may be obliged to take reasonable efforts to determine the suitability of its business associates. Each party Party agrees to cooperate fully with the other party Party in providing the other party Party with any information that the requesting party Party deems necessary or appropriate in assuring itself that the other party Party possesses the good character, honesty, integrity and reputation applicable to those engaged in the gaming industry, and each party Party specifically warrants and represents to the other that there is nothing in its background, history, or reputation that would be deemed unsuitable under the standards applicable to the gaming industry. Information provided by either party Party pursuant to this Agreement shall be kept confidential by the other party Party to the extent reasonably possible and not used for any purpose other than compliance matters. If, during the term of this Agreement, either party Party is notified by any of the Nevada gaming authorities Authorities that the conduct of business with the other party Party (or any of its subsidiaries or affiliates) will jeopardize the first partyParty’s (or any of its subsidiaries’ or affiliates’) license or ability to be licensed, or if either party Party reasonably concludes that the other party Party fails to meet the criteria set forth above, this Agreement shall terminate upon written notice (such notice shall provide a detailed explanation as to why the other party Party fails to meet the criteria set forth above) by the complaining party Party unless the other party Party is able, within sixty (60) days of such notice, to cure any such condition to the satisfaction of the applicable Nevada gaming authorityAuthority.

Compliance with Regulatory Agencies. Each party specifically acknowledges that the other party may be subject to the gaming and licensing requirements of various jurisdictions and may be obliged to take reasonable efforts to determine the suitability of its business associates. Each party agrees to cooperate fully with the other party in providing the other party with any information that the requesting party deems necessary or appropriate in assuring itself that the other party possesses the good character, honesty, integrity and reputation applicable to those engaged in the gaming industry, and each party specifically warrants and represents to the other that there is nothing in its background, history, or reputation that would be deemed unsuitable under the standards applicable to the gaming industry. Information provided by either party pursuant to this Agreement Assignment shall be kept confidential by the other party to the extent reasonably possible and not used for any purpose other than compliance matters. If, during the term of this AgreementAssignment, either party is notified by any of the Nevada gaming authorities that the conduct of business with the other party (or any of its subsidiaries or affiliates) will jeopardize the first party’s (or any of its subsidiaries’ or affiliates’) license or ability to be licensed, or if either party reasonably concludes that the other party fails to meet the criteria set forth above, this Agreement Assignment shall terminate upon written notice (such notice shall provide a detailed explanation as to why the other party fails to meet the criteria set forth above) by the complaining party unless the other party is able, within sixty (60) days of such notice, to cure any such condition to the satisfaction of the applicable Nevada gaming authority.