REASONS AND BENEFITS OF ENTERING INTO THE SERVICES AGREEMENT Sample Clauses

REASONS AND BENEFITS OF ENTERING INTO THE SERVICES AGREEMENT. The Group’s core business is the development and operation of casinos and related facilities in Macau. The Company intends to implement the Share Subscription and the Transfer to meet the requirements set out in the Revised Gaming Law and the Revised Tender Regulation and to proceed with the Tender. Ms. Xxxxx Xx, as the Managing Director of MGM Grand Paradise for the new concession, has to hold at least 15% of the share capital of MGM Grand Paradise to fulfil the requirements under the Revised Gaming Law. Ms. Xxxxx Xx is a permanent resident in Macau. She has been the managing director of MGM Grand Paradise since June 1, 2005. She is a substantial shareholder and has been an executive director of the Company since September 22, 2010, and co-chairperson of the Company since May 16, 2013. Ms. Xxxxx Xx is a recognized business leader and her expertise, local market knowledge and marketing efforts have played a significant role in the development and success of the Group. Ms. Xxxxx Xx’x social, industry and political standing across Macau, Hong Kong and China is of significant value to the Group. The Company recognizes that these are distinctive qualities of Ms. Xxxxx Xx and that she is therefore able to provide a unique and highly desirable offering to the Group as managing director of MGM Grand Paradise, which will play an essential role in the preparation and ultimately, in the likelihood of the success of the Tender. The Revised Gaming Law widens the objectives and the scope of activities and commitments to be undertaken by a concessionaire and significantly reinforces the compliance regime under the Revised Gaming Law and the associated obligations and liability, with a particular emphasis on the position of the managing director as title holder of no less than 15% of the capital of the concessionaire. Upon the successful outcome of the Tender, additional duties and obligations will be imposed on Ms. Xxxxx Xx pursuant to the delegation of authority to her as Managing Director from the MGM Grand Paradise’s board of directors. Pursuant to this proposed delegation of authority, Ms. Xxxxx Xx will have authority to, amongst other matters, represent MGM Grand Paradise in all formal dealings between MGM Grand Paradise and the Macau Government and oversee the day-to-day management of MGM Grand Paradise in fulfilling its obligations pursuant to the concession agreement, including ensuring the continued compliance of MGM Grand Paradise and of its activity with the ...
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Related to REASONS AND BENEFITS OF ENTERING INTO THE SERVICES AGREEMENT

  • TERMINATION OF EFT SERVICES You may terminate this Agreement or any EFT service under this Agreement at any time by notifying us in writing and stopping your use of your card and any access code. You must return all cards to the Credit Union. You also agree to notify any participating merchants that authority to make xxxx payment transfers has been revoked. We may also terminate this Agreement at any time by notifying you orally or in writing. If we terminate this Agreement, we may notify any participating merchants making preauthorized debits or credits to any of your accounts that this Agreement has been terminated and that we will not accept any further preauthorized transaction instructions. We may also program our computer not to accept your card or access code for any EFT service. Whether you or the Credit Union terminates this Agreement, the termination shall not affect your obligations under this Agreement for any electronic transactions made prior to termination.

  • Termination of the Services You may, by written request, terminate the Services provided for in this Agreement. We may terminate your use of the Services at any time. In the event of termination of the Services, you will remain liable for all transactions performed on your account.

  • Grantee Responsibility for System Agency’s Termination Costs If the System Agency terminates the Grant Agreement for cause, the Grantee shall be responsible to the System Agency for all costs incurred by the System Agency and the State of Texas to replace the Grantee. These costs include, but are not limited to, the costs of procuring a substitute grantee and the cost of any claim or litigation attributable to Xxxxxxx’s failure to perform any work in accordance with the terms of the Grant Agreement.

  • TERMINATION AND CONSEQUENCES OF TERMINATION 14.1 On termination of any Service Schedule for whatever reason the Client will cease to have the Services provided thereunder.

  • CONTRACTOR RESPONSIBILITY FOR SYSTEM AGENCY’S TERMINATION COSTS If the System Agency terminates the Contract for cause, the Contractor shall be responsible to the System Agency for all costs incurred by the System Agency and the State of Texas to replace the Contractor. These costs include, but are not limited to, the costs of procuring a substitute vendor and the cost of any claim or litigation attributable to Contractor’s failure to perform any Work in accordance with the terms of the Contract.

  • Termination of Contractor’s Responsibilities This Agreement will be considered complete when all work has been completed and accepted by the COUNTY and all warranty periods have expired. The CONTRACTOR will then be released from further obligation except as set forth in this Agreement.

  • Termination and Post-Termination Continuation of Services If either Party provides Notice of Termination pursuant to Section 6.3 and, by 11:59 p.m. Central Time on the stated date of termination, neither Party has requested negotiation of a new Interconnection agreement, then (a) this Agreement will terminate at 11:59 p.m. Central Time on the termination date identified in the Notice of Termination, and (b) the services and functions being provided by CenturyLink under this Agreement at the time of termination, including Interconnection arrangements and the exchange of Local Traffic, may be terminated by CenturyLink unless the Parties jointly agree to other continuing arrangements.

  • PERFORMING AGENCY RESPONSIBILITY FOR SYSTEM AGENCY’S TERMINATION COSTS If the System Agency terminates the Contract for cause, the Performing Agency shall be responsible to the System Agency for all costs incurred by the System Agency and the State of Texas to replace the Performing Agency. These costs include, but are not limited to, the costs of procuring a substitute vendor and the cost of any claim or litigation attributable to Performing Agency’s failure to perform any Work in accordance with the terms of the Contract.

  • Certification of Funds; Budget and Fiscal Provisions; Termination in the Event of Non-Appropriation This Agreement is subject to the budget and fiscal provisions of the City’s Charter. Charges will accrue only after prior written authorization certified by the Controller, and the amount of City’s obligation hereunder shall not at any time exceed the amount certified for the purpose and period stated in such advance authorization. This Agreement will terminate without penalty, liability or expense of any kind to City at the end of any fiscal year if funds are not appropriated for the next succeeding fiscal year. If funds are appropriated for a portion of the fiscal year, this Agreement will terminate, without penalty, liability or expense of any kind at the end of the term for which funds are appropriated. City has no obligation to make appropriations for this Agreement in lieu of appropriations for new or other agreements. City budget decisions are subject to the discretion of the Mayor and the Board of Supervisors. Contractor’s assumption of risk of possible non-appropriation is part of the consideration for this Agreement. THIS SECTION CONTROLS AGAINST ANY AND ALL OTHER PROVISIONS OF THIS AGREEMENT.

  • IN EMPLOYMENT, SERVICES, BENEFITS AND FACILITIES Contractor and any subcontractors shall comply with all applicable federal, state, and local Anti-discrimination laws, regulations, and ordinances and shall not unlawfully discriminate, deny family care leave, harass, or allow harassment against any employee, applicant for employment, employee or agent of County, or recipient of services contemplated to be provided or provided under this Agreement, because of race, ancestry, marital status, color, religious creed, political belief, national origin, ethnic group identification, sex, sexual orientation, age (over 40), medical condition (including HIV and AIDS), or physical or mental disability. Contractor shall ensure that the evaluation and treatment of its employees and applicants for employment, the treatment of County employees and agents, and recipients of services are free from such discrimination and harassment. Contractor represents that it is in compliance with and agrees that it will continue to comply with the Americans with Disabilities Act of 1990 (42 U.S.C. § 12101 et seq.), the Fair Employment and Housing Act (Government Code §§ 12900 et seq.), and ensure a workplace free of sexual harassment pursuant to Government Code 12950 and regulations and guidelines issued pursuant thereto. Contractor agrees to compile data, maintain records and submit reports to permit effective enforcement of all applicable antidiscrimination laws and this provision. Contractor shall include this nondiscrimination provision in all subcontracts related to this Agreement and when applicable give notice of these obligations to labor organizations with which they have Agreements.

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