Common use of Principal Purposes Clause in Contracts

Principal Purposes. The purposes for which the Company is organized are: (a) to own, hold, develop, operate, lease, transfer, sell, exchange, improve or otherwise dispose of all or any part of the Tioga Downs Complex; (b) to acquire, own, hold, develop, operate, lease, transfer, sell, exchange, improve or otherwise dispose of all or any part of the Xxxxxx Xxxxx Complex; (c) to enter into and perform contracts of any kind necessary to, in connection with or incidental to the accomplishment of the foregoing purposes; (d) to incur Debt from any source, including without limitation any Member or Affiliate of a Member, to accomplish the foregoing purposes or to meet the obligations of the Company; to issue evidences of the Company’s Debt to repay such borrowings; and to grant security interests in the Company’s assets to secure repayment of such Debt; and (e) to do all other things necessary, desirable or conducive to the accomplishment of the aforesaid purposes or otherwise contemplated by this Agreement. The Company is a single-purpose venture and is intended to engage in no business or project other than those described above regarding the Tioga Downs Complex and the Xxxxxx Xxxxx Complex, subject to the terms of Section 4.4(d). Title to all Company property shall be held in the name of the Company or a subsidiary of the Company.

Principal Purposes. The purposes for which the Company is organized are: (a) to own, hold, develop, operate, lease, transfer, sell, exchange, improve or otherwise dispose of all or any part of the Tioga Downs Complex; (b) to acquire, own, hold, develop, operate, lease, transfer, sell, exchange, improve or otherwise dispose of all or any part of the Xxxxxx Xxxxx Complex; (c) to enter into and perform contracts of any kind necessary to, in connection with or incidental to the accomplishment of the foregoing purposes; (d) to incur Debt from any source, including without limitation any Member or Affiliate of a Member, to accomplish the foregoing purposes or to meet the obligations of the Company; to issue evidences of the Company’s 's Debt to repay such borrowings; and to grant security interests in the Company’s 's assets to secure repayment of such Debt; and (e) to do all other things necessary, desirable or conducive to the accomplishment of the aforesaid purposes or otherwise contemplated by this Agreement. The Company is a single-purpose venture and is intended to engage in no business or project other than those described above regarding the Tioga Downs Complex and the Xxxxxx Xxxxx Complex, subject to the terms of Section 4.4(d). Title to all Company property shall be held in the name of the Company or a subsidiary of the Company.