Common use of Privileged License Clause in Contracts

Privileged License. Tenant acknowledges that Landlord and/or affiliates of Landlord are or may be subject to or exist because of privileged licenses issued by governmental authorities relating to casino gaming (“Gaming Authorities”). If a corporation, Tenant shall disclose the names of all officers and directors of Tenant, and unless a publicly traded corporation on a national stock exchange, Tenant shall disclose to Landlord all ownership interests in Tenant and all lenders or sources of financing. If requested to do so by Landlord, Tenant shall obtain any license, qualification, clearance or the like which shall be requested or required of Tenant by any Gaming Authority or any regulatory authority having jurisdiction over Landlord or any affiliate of Landlord. If Tenant fails to satisfy such requirement or if Landlord or any affiliate of Landlord is directed to cease business with Tenant by any such authority, or if Landlord shall in good faith determine, in Landlord’s reasonable judgment, that Tenant, or any of its officers, directors, employees, agents, designees or representatives, or partner, owner, member, or shareholder, or any lender or financial participant (a) is or might be engaged in, or is about to be engaged in, any activity or activities, or (b) was or is involved in any relationship, either of which could or does jeopardize Landlord’s business, reputation or such licenses, or those of its affiliates, or if any such license is threatened to be, or is, denied, curtailed, suspended or revoked, then Tenant shall immediately (i) terminate any relationship with the individual or entity which is the source of the problem, or (ii) cease the activity creating the problem. In the event Tenant does not comply with item (i) or (ii) above, then Landlord (x) may require Tenant to specifically perform such obligation (the parties recognizing that damages or other remedies would be inadequate under the circumstances) or (y) may terminate this Lease without liability to Tenant; provided, however, if any matter described herein is reasonably susceptible to cure, Tenant shall have a reasonable time within which to effect such cure (but in no event longer than the time available to fully comply with any requirement imposed by any Gaming Authority or any other Requirement) and Landlord shall not have the right to terminate this Lease during such cure period.

Privileged License. Tenant acknowledges that Landlord and/or and affiliates of Landlord are businesses that are or may be subject to or and exist because of privileged licenses issued by governmental authorities relating to casino gaming (“"Gaming Authorities”"). If a corporation, Tenant shall disclose the names of all officers and directors of Tenant, and unless a publicly traded corporation on a national stock exchangeexchange such as NYSE, AMEX or NASDAQ, Tenant shall disclose to Landlord all ownership interests in Tenant and all lenders or sources of financing. If requested to do so by Landlord, Tenant shall obtain any license, qualification, clearance or the like which shall be requested or required of Tenant by any Landlord, Gaming Authority Authorities or any regulatory authority having jurisdiction over Landlord or any affiliate of Landlord. If Tenant fails to satisfy such requirement or if Landlord or any affiliate of Landlord is directed to cease business with Tenant by any such authority, or if Landlord shall in good faith determine, in Landlord’s reasonable 's sole and exclusive judgment, that Tenant, or any of its officers, directors, employees, agents, designees or representatives, or partner, owner, member, or shareholder, or any lender or financial participant (a) is or might be engaged in, or is about to be engaged in, any activity or activities, or (b) was or is involved in any relationship, either of which could or does jeopardize Landlord’s 's business, reputation or such licenses, or those of its affiliates, or if any such license is threatened to be, or is, denied, curtailed, suspended or revoked, then Tenant shall immediately (i) terminate any relationship with the individual or entity which is the source of the problem, or (ii) cease the activity creating the problemproblem to Landlord's satisfaction. In the event Tenant does not comply with item (i) or (ii) above, then Landlord (x) may require Tenant to specifically perform such obligation (the parties recognizing that damages or other remedies would be inadequate under the circumstances) or (y) may terminate this Lease without liability to Tenanteither party; provided, however, if any matter described herein is reasonably susceptible to cure, Tenant shall have a reasonable time within which to effect such cure (but in no event longer than the time available to fully comply with any requirement imposed by any law, rule, regulation or the Gaming Authority or any other RequirementAuthorities) and Landlord shall not have the right to terminate this Lease during such cure period.

Privileged License. Tenant acknowledges that Landlord and/or and affiliates of Landlord are businesses that are or may be subject to or and exist because of privileged licenses issued by governmental authorities relating to casino gaming (“"Gaming Authorities”"). If a corporation, Tenant shall disclose the names of all officers and directors of Tenant, and unless a publicly traded corporation on a national stock exchange, Tenant shall disclose to Landlord all ownership interests in Tenant and all lenders or sources of financing. If requested to do so by Landlord, Tenant shall obtain any license, qualification, clearance or the like which shall be requested or required of Tenant by any Landlord, Gaming Authority Authorities or any regulatory authority having jurisdiction over Landlord or any affiliate of Landlord. If Tenant fails to satisfy such requirement or if Landlord or any affiliate of Landlord is directed to cease business with Tenant by any such authority, or if Landlord shall in good faith determine, in Landlord’s reasonable 's sole and exclusive judgment, that Tenant, or any of its officers, directors, employees, agents, designees or representatives, or partner, owner, member, or shareholder, or any lender or financial participant (a) is or might be engaged in, or is about to be engaged in, any activity or activities, or (b) was or is involved in any relationship, either of which could or does jeopardize Landlord’s 's business, reputation or such licenses, or those of its affiliates, or if any such license is threatened to be, or is, denied, curtailed, suspended or revoked, then Tenant shall immediately (i) terminate any relationship with the individual or entity which is the source of the problem, or (ii) cease the activity creating the problem. In the event Tenant does not comply with item (i) or (ii) above, then Landlord (x) may require Tenant to specifically perform such obligation (the parties recognizing that damages or other remedies would be inadequate under the circumstances) or (y) may terminate this Lease without liability to Tenant; provided, however, if any matter described herein is reasonably susceptible to cure, Tenant shall have a reasonable time within which to effect such cure (but in no event longer than the time available to fully comply with any requirement imposed by any Gaming Authority or any other Requirement) and Landlord shall not have the right to terminate this Lease during such cure period.

Privileged License. Tenant Licensee hereby acknowledges that Landlord and/or Licensor and its affiliates of Landlord are or may be subject to or exist because of privileged businesses that have gaming licenses issued by governmental the state gaming authorities relating to casino gaming (each a “Gaming AuthoritiesCommission”). If a corporation, Tenant shall disclose the names of all officers and directors of Tenantrequired by any regulatory authority having jurisdiction over Licensor, and unless a publicly traded corporation on a national stock exchange, Tenant shall disclose to Landlord all ownership interests in Tenant and all lenders or sources of financing. If if requested to do so by LandlordLicensor, Tenant shall Licensee shall, at Licensee’s expense, obtain any license, qualification, clearance or the like which shall be requested or required of Tenant by any Gaming Authority or any regulatory authority having jurisdiction over Landlord or any affiliate of Landlordnecessary for Licensee to operate the Business. If Tenant Licensee fails to satisfy such requirement or if Landlord Licensor or any parent company, subsidiary or affiliate of Landlord Licensor is directed to cease business with Tenant Licensee by the Commission or any such other regulatory authority, or if Landlord Licensor shall in good faith determine, in LandlordLicensor’s reasonable judgment, that Tenant, Licensee or any of its officers, directors, employees, agents, designees or representatives, or partner, owner, member, or shareholder, or any lender or financial participant representatives (a) is or might be engaged in, or is about to be engaged in, any activity or activities, or (b) was or is involved in any relationship, in each case of either of (a) or (b) which could would reasonably be expected to or does jeopardize LandlordLicensor’s business, reputation or such licensesgaming license, or those of its Licensor’s parent company, subsidiaries or affiliates, or if any such license is threatened to be, or is, denied, curtailed, suspended or revoked, then Tenant shall this Agreement may be immediately (i) terminate any relationship terminated by Licensor without further liability or obligation to Licensee. In addition, Licensee hereby acknowledges that it may be illegal for a denied license applicant or a revoked licensee, or a business organization under the control of a denied license applicant or a revoked licensee, to enter into, or attempt to enter into, a contract with Licensor without the individual or entity which is the source prior approval of the problemCommission, as applicable. Licensee hereby affirms, represents and warrants to Licensor that Licensee is not a denied license applicant, a revoked licensee or (ii) cease the activity creating the problem. In the event Tenant does not comply with item (i) or (ii) above, then Landlord (x) may require Tenant to specifically perform such obligation (the parties recognizing that damages or other remedies would be inadequate a business organization under the circumstances) control of a denied license applicant or (y) may terminate a revoked licensee, and Licensee hereby agrees that this Lease without liability Agreement is subject to Tenant; providedimmediate termination by Licensor if Licensee should become a denied license applicant, however, if any matter described herein a revoked licensee or a business organization under the control of a denied license applicant or a revoked licensee. [This space is reasonably susceptible to cure, Tenant shall have a reasonable time within which to effect such cure (but in no event longer than the time available to fully comply with any requirement imposed by any Gaming Authority or any other Requirement) and Landlord shall not have the right to terminate this Lease during such cure period.intentionally left blank]