Common use of Lender Suitability Clause in Contracts

Lender Suitability. No Partner shall incur or permit any Person that holds any Interests to incur any indebtedness unless the documents for such indebtedness provide that: (a) If any lender to the Venture or to any Person that holds any Interest becomes subject to an Unsuitability Determination by the Gaming Authorities the result of which is to threaten the revocation, suspension, termination or rescission of any permit, approval, entitlement or license granted by the Gaming Authorities to or for the benefit of the Venture, a Partner or any Affiliate of a Partner, or result in any other penalty to the Venture, a Partner or any Affiliate of a Partner, and if such Unsuitability Determination is not cured in accordance with applicable laws, regulations, rules or orders, then to the extent and so long as provided by applicable laws, regulations, rules or orders: (i) all payments to such lender shall be suspended and escrowed; (ii) such lender shall immediately divest itself of all loans made to the Venture or such Person; and (iii) such lender shall be subject too any other remedies as shall be required by applicable laws, regulations, rules and orders. (b) If the Managing Partner reasonably determines that the existence of a loan from a lender to the Venture will threaten any gaming license, permit, approval or other entitlement that the Managing Partner, any other Partner or any Affiliate of such Partner holds or applies for in any other jurisdiction, the Managing Partner may, at no cost to the Venture or the other Partners: (i) require the Venture to exercise any redemption rights in any loan documents with such lender and redeem such loan so long as the Managing Partner makes a loan to the Venture (with the same or, in the aggregate, more favorable security, interest and maturity provisions as the redeemed loan) of the funds necessary to effect such redemption or procures a loan for the Venture (with the same or, in the aggregate, more favorable interest, security and maturity provisions as the redeemed loan) from a substitute lender and so long as such loan is in compliance with the Venture’s loan documents and this Agreement; (ii) require the Venture to exercise the rights in any loan documents with such lender to procure a substitute lender or lenders that will assume and accept the rights and obligations of the objectionable lender; or (iii) with the consent of such lender, if required in any loan documents with such lender, procure a substitute lender or lenders that assume and accept the rights and obligations of the objectionable lender.

Lender Suitability. No Partner Venturer shall incur or permit any Person person or entity that holds any JV Interests to incur any indebtedness unless the documents for such indebtedness provide that: (a) If any lender to the Venture or to any Person person that holds any JV Interest becomes subject to an Unsuitability Determination unsuitability determination by the Gaming Authorities the result of which is to threaten the revocation, suspension, termination or rescission of any permit, approval, any entitlement or license granted by the Gaming Authorities to or for the benefit of the Venture, a Partner Venturer, or any Affiliate of a PartnerVenturer, or result in any other penalty to the Venture, a Partner or Venturer and any Affiliate of a PartnerVenturer, and if such Unsuitability Determination is not cured in accordance with applicable laws, regulations, regulations rules or orders, then to the extent and so long as provided by applicable laws, regulations, rules or orders: (i) all payments to such lender shall be suspended and escrowed; (ii) such lender shall immediately divest itself of all loans made to the Venture or such Personperson; and (iii) such lender shall be subject too to any other remedies as shall be required by applicable laws, regulations, rules and orders. (b) If the Managing Partner Management Committee reasonably determines that the existence of a loan from a lender to the Venture will threaten any gaming license, permit, approval approval, or other entitlement that the Managing Partner, any other Partner such Venturer or any Affiliate of such Partner Venturer holds or applies for in any other jurisdiction, the Managing Partner such Venturer may, at no cost to the Venture or the other PartnersVenturer: (i) require the Venture to exercise any redemption rights in any loan documents with such lender and redeem such loan so long as the Managing Partner such Venturer makes a loan to the Venture (with the same or, in the aggregate, more favorable security, interest and maturity provisions as the redeemed loan) of the funds necessary to effect such redemption or procures a loan for the Venture (with the same or, in the aggregate, more favorable interest, security and maturity provisions as the redeemed loan) from a substitute lender Substitute Lender and so long as such loan is in compliance with the Venture’s 's loan documents and this Agreement; (ii) require the Venture to exercise the rights in any loan documents with such lender to procure a substitute lender Substitute Lender or lenders that will assume and accept the rights and obligations of the objectionable lender; or (iii) with the consent of such lender, if required in any loan documents with such lender, procure a substitute lender Substitute Lender or lenders that assume and accept the rights and obligations of the objectionable lender.

Lender Suitability. No Partner Venturer shall incur or permit any Person person ------------------ or entity that holds any JV Interests to incur any indebtedness unless the documents for such indebtedness provide that: (a) If any lender to the Venture or to any Person person that holds any JV Interest becomes subject to an Unsuitability Determination unsuitability determination by the Gaming Authorities the result of which is to threaten the revocation, suspension, termination or rescission of any permit, approval, any entitlement or license granted by the Gaming Authorities to or for the benefit of the Venture, a Partner Venturer, or any Affiliate of a PartnerVenturer, or result in any other penalty to the Venture, a Partner or Venturer and any Affiliate of a PartnerVenturer, and if such Unsuitability Determination is not cured in accordance with applicable laws, regulations, regulations rules or orders, then to the extent and so long as provided by applicable laws, regulations, rules or orders: (i) all payments to such lender shall be suspended and escrowed; (ii) such lender shall immediately divest itself of all loans made to the Venture or such Personperson; and (iii) such lender shall be subject too to any other remedies as shall be required by applicable laws, regulations, rules and orders. (b) If the Managing Partner Management Committee reasonably determines that the existence of a loan from a lender to the Venture will threaten any gaming license, permit, approval approval, or other entitlement that the Managing Partner, any other Partner such Venturer or any Affiliate of such Partner Venturer holds or applies for in any other jurisdiction, the Managing Partner such Venturer may, at no cost to the Venture or the other PartnersVenturer: (i) require the Venture to exercise any redemption rights in any loan documents with such lender and redeem such loan so long as the Managing Partner such Venturer makes a loan to the Venture (with the same or, in the aggregate, more favorable security, interest and maturity provisions as the redeemed loan) of the funds necessary to effect such redemption or procures a loan for the Venture (with the same or, in the aggregate, more favorable interest, security and maturity provisions as the redeemed loan) from a substitute lender Substitute Lender and so long as such loan is in compliance with the Venture’s 's loan documents and this Agreement; (ii) require the Venture to exercise the rights in any loan documents with such lender to procure a substitute lender Substitute Lender or lenders that will assume and accept the rights and obligations of the objectionable lender; or (iii) with the consent of such lender, if required in any loan documents with such lender, procure a substitute lender Substitute Lender or lenders that assume and accept the rights and obligations of the objectionable lender.

Lender Suitability. No Partner Venturer shall incur or permit any Person person or ------------------ entity that holds any JV Interests to incur any indebtedness unless the documents for such indebtedness provide that: (a) If any lender to the Venture or to any Person person that holds any JV Interest becomes subject to an Unsuitability Determination unsuitability determination by the Gaming Authorities the result of which is to threaten the revocation, suspension, termination or rescission of any permit, approval, any entitlement or license granted by the Gaming Authorities to or for the benefit of the Venture, a Partner Venturer, or any Affiliate of a PartnerVenturer, or result in any other penalty to the Venture, a Partner or Venturer and any Affiliate of a PartnerVenturer, and if such Unsuitability Determination is not cured in accordance with applicable laws, regulations, regulations rules or orders, then to the extent and so long as provided by applicable laws, regulations, rules or orders: (i) all payments to such lender shall be suspended and escrowed; (ii) such lender shall immediately divest itself of all loans made to the Venture or such Personperson; and (iii) such lender shall be subject too to any other remedies as shall be required by applicable laws, regulations, rules and orders. (b) If the Managing Partner HCS I reasonably determines that the existence of a loan from a lender to the Venture will threaten any gaming license, permit, approval approval, or other entitlement that the Managing Partner, any other Partner such Venturer or any Affiliate of such Partner Venturer holds or applies for in any other jurisdiction, the Managing Partner such Venturer may, at no cost to the Venture or the other PartnersVenturer: (i) require the Venture to exercise any redemption rights in any loan documents with such lender and redeem such loan so long as the Managing Partner such Venturer makes a loan to the Venture (with the same or, in the aggregate, more favorable security, interest and maturity provisions as the redeemed loan) of the funds necessary to effect such redemption or procures a loan for the Venture (with the same or, in the aggregate, more favorable interest, security and maturity provisions as the redeemed loan) from a substitute lender and so long as such loan is in compliance with the Venture’s 's loan documents and this Agreement; (ii) require the Venture to exercise the rights in any loan documents with such lender to procure a substitute lender or lenders that will assume and accept the rights and obligations of the objectionable lender; or (iii) with the consent of such lender, if required in any loan documents with such lender, procure a substitute lender or lenders that assume and accept the rights and obligations of the objectionable lender.