Common use of Gaming Redemption Clause in Contracts

Gaming Redemption. Each Holder, by accepting a Note, shall be deemed to have agreed that if the Gaming Authority of any jurisdiction in which the Company or any of its Affiliates (including Melco Resorts Macau) conducts or proposes to conduct gaming requires that a person who is a holder or the beneficial owner of Notes be licensed, qualified or found suitable under applicable Gaming Laws, such holder or beneficial owner, as the case may be, shall apply for a license, qualification or a finding of suitability within the required time period. If such Person fails to apply or become licensed or qualified or is found unsuitable, the Company shall have the right, at its option: (1) to require such Person to dispose of its Notes or beneficial interest therein within 30 days of receipt of notice of the Company’s election or such earlier date as may be requested or prescribed by such Gaming Authority; or (2) to redeem such Notes, which redemption may be less than 30 days following the notice of redemption if so requested or prescribed by the applicable gaming authority, at a redemption price equal to: (A) the lesser of: (1) the Person’s cost, plus accrued and unpaid interest, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; and (2) 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; or (B) such other amount as may be required by applicable law or order of the applicable Gaming Authority. The Company shall notify the Trustee in writing of any such redemption as soon as practicable. Neither the Company nor the Trustee shall be responsible for any costs or expenses any Holder may incur in connection with such Holder’s application for a license, qualification or a finding of suitability.

Gaming Redemption. Each Holder, by accepting a Note, shall be deemed to have agreed that if the Gaming Authority of any jurisdiction in which the Parent Guarantor, Company or any of its their respective Affiliates (including Melco Resorts Crown Macau) conducts or proposes to conduct gaming requires that a person who is a holder or the beneficial owner of Notes be licensed, qualified or found suitable under applicable Gaming Laws, such holder or beneficial owner, as the case may be, shall apply for a license, qualification or a finding of suitability within the required time period. If such Person fails to apply or become licensed or qualified or is found unsuitable, the Company shall have the right, at its option: (1) to require such Person to dispose of its Notes or beneficial interest therein within 30 days of receipt of notice of the Company’s election or such earlier date as may be requested or prescribed by such Gaming Authority; or (2) to redeem such Notes, which redemption may be less than 30 days following the notice of redemption if so requested or prescribed by the applicable gaming authority, at a redemption price equal to: (A) the lesser of: (1) the Person’s cost, plus accrued and unpaid interest, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; and (2) 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; or (B) such other amount as may be required by applicable law or order of the applicable Gaming Authority. The Company shall notify the Trustee in writing of any such redemption as soon as practicable. Neither the Company nor the Trustee shall be responsible for any costs or expenses any Holder may incur in connection with such Holder’s application for a license, qualification or a finding of suitability.

Gaming Redemption. Each HolderNotwithstanding the provisions of subparagraph (a) of paragraph 5 above, by accepting a Note, shall be deemed to have agreed that if the any Gaming Authority of any jurisdiction in which the Company or any of its Affiliates (including Melco Resorts Macau) conducts or proposes to conduct gaming requires that a person who is a holder Holder or the beneficial owner of Notes notes must be licensed, qualified or found suitable under any applicable Gaming Laws, gaming law and such holder Holder or beneficial owner, as the case may be, shall owner fails to apply for a license, qualification or a finding of suitability within the 30 days after being requested to do so by such Gaming Authority (or such lesser period that may be required time period. If by such Person fails to apply Gaming Authority), or become licensed if such Holder or such beneficial owner is notified by such Gaming Authority that such Holder or beneficial owner shall not be so licensed, qualified or is found unsuitablesuitable, the Company shall will have the right, at its option: : (1i) to require such Person Holder or beneficial owner to dispose of its Notes such Holder's or beneficial interest therein owner's Notes within 30 days of receipt of notice of the Company’s election (or such earlier date as may be requested ordered by such Gaming Authority) of (x) the termination of the period described above for such Holder or prescribed beneficial owner to apply for a license, qualification or finding of suitability, or (y) receipt of the notice from such Gaming Authority that such holder or beneficial owner shall not be licensed, qualified or found suitable by such Gaming Authority; or or (2ii) to redeem the Notes of such Notesholder of beneficial owner at a redemption price equal to the lesser of the principal amount thereof or the price at which such holder or beneficial owner acquired such notes, together with, in either case, accrued and unpaid interest thereon to the earlier of the date of redemption or such earlier date as may be required by such Gaming Authority or the date of the finding of unsuitability by such Gaming Authority, which redemption may be less than 30 days following the notice of redemption redemption, if so requested or prescribed ordered by the applicable gaming authority, at a redemption price equal to: (A) the lesser of: (1) the Person’s cost, plus accrued and unpaid interest, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; and (2) 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; or (B) such other amount as may be required by applicable law or order of the applicable Gaming Authority. The Company shall notify the Trustee in writing of any such redemption as soon as practicable. Neither the Company nor the Trustee shall be responsible for any costs or expenses any Holder may incur in connection with such Holder’s application for a license, qualification or a finding of suitability.

Gaming Redemption. Each HolderNotwithstanding any other provision hereof, by accepting a Note, shall be deemed to have agreed that if the any Gaming Authority of any jurisdiction in which the Company or any of its Affiliates (including Melco Resorts Macau) conducts or proposes to conduct gaming requires that a person who is a holder Holder or the beneficial owner Beneficial Owner of Notes must be licensed, qualified or found suitable under any applicable Gaming Laws, Law and such holder Holder or beneficial owner, as the case may be, shall Beneficial Owner (i) fails to apply for a license, qualification or a finding of suitability within 30 days after being required to do so (or such lesser period as required by the required time period. If Gaming Authority) by the Gaming Authority or by the Company pursuant to an order of the Gaming Authority, or (ii) if such Person fails to apply Holder or become licensed or such Beneficial Owner is not so licensed, qualified or is found unsuitablesuitable, the Company shall will have the right, at its option: (1a) to require such Person Holder or Beneficial Owner to dispose of its such Holder’s or Beneficial Owner’s Notes or beneficial interest therein within 30 days of receipt of such notice of or such finding by the Company’s election applicable Gaming Authority or such earlier date as may be requested or prescribed ordered by such Gaming Authority; or (2b) to redeem the Notes of such Notes, which redemption may be less than 30 days following the notice of redemption if so requested Holder or prescribed by the applicable gaming authority, Beneficial Owner at a redemption price equal to: (A) to the lesser of: (1) the Person’s costprincipal amount thereof, plus and (2) the price at which such Holder or Beneficial Owner acquired the new Notes, together with, in either case, accrued and unpaid interest, if any, to the earlier of the date of redemption date or the date of the finding of unsuitability or failure to comply; and (2) 100% of the principal amount thereof, plus accrued and unpaid interestunsuitability, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; or (B) by such other amount as Gaming Authority, which may be required less than 30 days following the notice of redemption, if so ordered by applicable law or order of the applicable such Gaming Authority. The Company shall notify the Trustee in writing of any such redemption as soon as practicable. Neither the Company nor the Trustee shall be responsible for any costs The Holder or expenses any Holder may incur in connection with such Holder’s application Beneficial Owner of Notes applying for a license, qualification or a finding of suitability is obligated to pay all costs of the licensure or investigation for such qualification or finding of suitability.

Gaming Redemption. Each Holder, by accepting a Note, shall be deemed to have agreed that if the Gaming Authority of any jurisdiction in which the Company or any of its Affiliates (including Melco Resorts MacauCrown Gaming) conducts or proposes to conduct gaming requires that a person who is a holder or the beneficial owner of Notes be licensed, qualified or found suitable under applicable Gaming Laws, such holder or beneficial owner, as the case may be, shall apply for a license, qualification or a finding of suitability within the required time period. If such Person fails to apply or become licensed or qualified or is found unsuitable, the Company shall have the right, at its option: (1) to require such Person to dispose of its Notes or beneficial interest therein within 30 days of receipt of notice of the Company’s election or such earlier date as may be requested or prescribed by such Gaming Authority; or (2) to redeem such Notes, which redemption may be less than 30 days following the notice of redemption if so requested or prescribed by the applicable gaming authority, at a redemption price equal to: (A) the lesser of: (1) the Personperson’s cost, plus accrued and unpaid interest, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; and (2) 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; or (B) such other amount as may be required by applicable law or order of the applicable Gaming Authority. The Company shall notify the Trustee in writing of any such redemption as soon as practicable. Neither the Company nor the Trustee shall be responsible for any costs or expenses any Holder may incur in connection with such Holder’s application for a license, qualification or a finding of suitability.

Gaming Redemption. Each Holder, by accepting a Note, shall be deemed to have agreed that if the Gaming Authority of any jurisdiction in which the Company or Company, any of its Affiliates (including Melco Resorts Macau) Subsidiaries or the Sponsor conducts or proposes to conduct gaming requires that a person who is a holder or the beneficial owner of Notes be licensed, qualified or found suitable under applicable Gaming Laws, such holder or beneficial owner, as the case may be, shall apply for a license, qualification or a finding of suitability within the required time period. If such Person fails to apply or become licensed or qualified or is found unsuitable, the Company shall have the right, at its option: (1) to require such Person to dispose of its Notes or beneficial interest therein within 30 days of receipt of notice of the Company’s election or such earlier date as may be requested or prescribed by such Gaming Authority; or (2) to redeem such Notes, which redemption may be less than 30 days following the notice of redemption if so requested or prescribed by the applicable gaming authority, at a redemption price equal to: (A) the lesser of: (1) the Personperson’s cost, plus accrued and unpaid interest, if any, and Additional Amounts, if any, to but excluding the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; and (2) 100% of the principal amount thereof, plus accrued and unpaid interest, if any, and Additional Amounts, if any, to but excluding the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; or (B) such other amount as may be required by applicable law or order of the applicable Gaming Authority. The Company shall notify the Trustee in writing of any such redemption as soon as practicable. Neither the Company nor the Trustee shall be responsible for any costs or expenses any Holder may incur in connection with such Holder’s application for a license, qualification or a finding of suitability.

Gaming Redemption. Each Holder, by accepting a Note, shall be deemed to have agreed that if the Gaming Authority of any jurisdiction in which the Company or Company, any of its Affiliates (including Melco Resorts Macau) Subsidiaries or any Sponsor conducts or proposes to conduct gaming requires that a person who is a holder or the beneficial owner of Notes be licensed, qualified or found suitable under applicable Gaming Laws, such holder or beneficial owner, as the case may be, shall apply for a license, qualification or a finding of suitability within the required time period. If such Person fails to apply or become licensed or qualified or is found unsuitable, the Company shall have the right, at its option: (1) to require such Person to dispose of its Notes or beneficial interest therein within 30 days of receipt of notice of the Company’s election or such earlier date as may be requested or prescribed by such Gaming Authority; or (2) to redeem such Notes, which redemption may be less than 30 days following the notice of redemption if so requested or prescribed by the applicable gaming authority, at a redemption price equal to: (A) the lesser of: (1) the Personperson’s cost, plus accrued and unpaid interest, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; and (2) 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; or (B) such other amount as may be required by applicable law or order of the applicable Gaming Authority. The Company shall notify the Trustee in writing of any such redemption as soon as practicable. Neither the Company nor the Trustee shall be responsible for any costs or expenses any Holder may incur in connection with such Holder’s application for a license, qualification or a finding of suitability.

Gaming Redemption. Each HolderNotwithstanding the provisions of subparagraph (a) of Paragraph 5 above, by accepting a Note, shall be deemed to have agreed that if the any Gaming Authority of any jurisdiction in which the Company or any of its Affiliates (including Melco Resorts Macau) conducts or proposes to conduct gaming requires that a person who is a holder Holder or the beneficial owner of Notes must be licensed, qualified or found suitable under any applicable Gaming Laws, gaming law and such holder Holder or beneficial owner, as the case may be, shall owner fails to apply for a license, qualification or a finding of suitability within the 30 days after being requested to do so by such Gaming Authority (or such lesser period that may be required time period. If by such Person fails to apply Gaming Authority), or become licensed if such Holder or such beneficial owner is notified by such Gaming Authority that such Holder or beneficial owner shall not be so licensed, qualified or is found unsuitablesuitable, the Company shall have the right, at its option: , (1i) to require such Person Holder or beneficial owner to dispose of its Notes such Holder's or beneficial interest therein owner's Notes within 30 days (or such lesser period as may be required by such Gaming Authority) of (a) the termination of the period described above for such Holder or beneficial owner to apply for a license, qualification or finding or suitability or (b) receipt of the notice from such Gaming Authority that such Holder or beneficial owner shall not be licensed, qualified or found suitable by such Gaming Authority or (ii) to redeem the Notes of such Holder or beneficial owner at a redemption price equal to the lesser of the Company’s election principal amount thereof or the price at which such Holder or beneficial owner acquired such Notes, together with, in either case, accrued and unpaid Interest and Liquidated Damages, if any, thereon to the earlier of the date of redemption or such earlier date as may be requested required by such Gaming Authority or prescribed the date of the finding of unsuitability by such Gaming Authority; or (2) to redeem such Notes, which redemption may be less than 30 days following the notice of redemption redemption, if so requested or prescribed ordered by the applicable gaming authority, at a redemption price equal to: (A) the lesser of: (1) the Person’s cost, plus accrued and unpaid interest, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; and (2) 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; or (B) such other amount as may be required by applicable law or order of the applicable Gaming Authority. The Company shall notify the Trustee in writing of any such redemption as soon as practicable. Neither the Company nor the Trustee shall be responsible for any costs or expenses any Holder may incur in connection with such Holder’s application for a license, qualification or a finding of suitability.

Gaming Redemption. Each Holder(a) Notwithstanding any other provisions of this Article 3, by accepting a Note, shall be deemed to have agreed that if the any Gaming Authority of any jurisdiction in which the Company Partnership, either of its partners or any of its their respective Affiliates (including Melco Resorts Macau) as of the date of this Indenture conducts or, in the future conducts, directly or proposes to conduct indirectly through a subsidiary or joint venture, gaming requires that notifies a person who is a holder Holder or the beneficial owner of the Notes that the Holder or beneficial owner must be licensed, qualified or found suitable under any applicable gaming law and the Holder or beneficial owner does not apply for that license, qualification or finding of suitability within 30 days after being requested to do so by such Gaming LawsAuthority (or such lesser period that may be required by such Gaming Authority) or if such Holder or beneficial owner will not be so licensed, qualified or found suitable under applicable gaming law, the Issuers have the right, at their option, (i) to require such holder Holder or beneficial owner to dispose of such Holder’s or beneficial owner’s Notes within 30 days (or such earlier date as may be required by the applicable Gaming Authority), of (A) the termination of the 30-day period or any shorter period as may be required by a Gaming Authority, in each case as described above, for the case may be, shall Holder or beneficial owner to apply for a license, qualification or a finding of suitability within or (B) the required time period. If such Person fails to apply or become licensed or qualified or is found unsuitable, the Company shall have the right, at its option: (1) to require such Person to dispose of its Notes or beneficial interest therein within 30 days of receipt of notice from the Gaming Authority that the Holder or beneficial owner will not be licensed, qualified or found suitable or (ii) to call for redemption of the Company’s election Notes of such Holder or such earlier date as may be requested or prescribed by such Gaming Authority; or (2) to redeem such Notes, which redemption may be less than 30 days following the notice of redemption if so requested or prescribed by the applicable gaming authority, beneficial owner at a redemption price equal to: to (A) the lesser of: of (1) the Person’s cost, plus accrued and unpaid interest, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; and (2) 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to (2) the earlier of price at which such Holder or beneficial owner acquired the redemption date or the date of the finding of unsuitability or failure to comply; or (B) such other amount as may be required by applicable law or order of the applicable Gaming Authority. The Company shall notify the Trustee in writing of any such redemption as soon as practicable. Neither the Company nor the Trustee shall be responsible for any costs or expenses any Holder may incur in connection with such Holder’s application for a license, qualification or a finding of suitability.Notes and

Gaming Redemption. Each Holder, by accepting a Note, shall be deemed to have agreed that if the (a) If any Gaming Authority of in any jurisdiction in which the Company Enterprise or any of its Affiliates (including Melco Resorts Macau) Subsidiaries conducts or proposes to conduct gaming requires that a person who is Holder or Beneficial Owner of the Notes obtain a holder license, qualification or finding of suitability under any applicable Gaming Laws and the Holder or Beneficial Owner does not apply for a license, qualification or finding of suitability within 30 days after being requested to do so by such Gaming Authority (or such lesser period that may be required by such Gaming Authority) or if such Holder or beneficial owner shall not be licensed, qualified or found suitable, then the Enterprise, at its option, may (i) require such Holder or Beneficial Owner to dispose of such Holder or Beneficial Owner's Notes within 30 days, or any earlier date as may be required by the Gaming Authority, of (A) the termination of the 30-day period described above for the Holder or Beneficial Owner to apply for a license, qualification or finding of suitability, or (B) the receipt of the notice from the Gaming Authority that the Holder or beneficial owner shall not be licensed, qualified or found suitable under applicable Gaming Lawsor (ii) redeem the Notes of such Holder or Beneficial Owner at a price equal to the least of (A) 100% of the principal amount thereof or (B) the price at which such Holder or Beneficial Owner acquired the Notes, such holder and (C) the fair market value of the Notes, together with, in either case, accrued and unpaid interest thereon to the earlier of the date of redemption or beneficial owner, as the case may be, shall apply for a license, qualification or a date of the finding of suitability within the required time period. If such Person fails to apply or become licensed or qualified or is found unsuitable, the Company shall have the right, at its option: (1) to require such Person to dispose of its Notes or beneficial interest therein within 30 days of receipt of notice of the Company’s election or such earlier date as may be requested or prescribed unsuitability by such Gaming Authority; or (2) to redeem such Notes, which redemption may be less than 30 days following the notice of redemption if so requested or prescribed ordered by the applicable gaming authority, at a redemption price equal to: (A) the lesser of: (1) the Person’s cost, plus accrued and unpaid interest, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; and (2) 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the earlier of the redemption date or the date of the finding of unsuitability or failure to comply; or (B) such other amount as may be required by applicable law or order of the applicable Gaming Authority. The Company shall notify the Trustee in writing of any such redemption as soon as practicable. Neither the Company nor the Trustee shall be responsible for any costs or expenses any Holder may incur in connection with such Holder’s application for a license, qualification or a finding of suitability.