Redemption and Destruction of Chips and Tokens Sample Clauses

Redemption and Destruction of Chips and Tokens. Pursuant to applicable Gaming Laws, Seller shall, prior to the Closing, submit for approval of the administrator of the Iowa Commission a plan for the redemption and destruction of all gaming chips and tokens used at the Property that shall include a period of at least one hundred twenty (120) days during which Buyer will redeem for cash Seller’s gaming chips and tokens. After such plan is approved by the Iowa Commission, Buyer shall redeem, for cash all of Seller’s gaming chips and tokens issued prior to the Closing at the Property for a period of not less than one hundred twenty (120) days (or longer period as required by the Iowa Commission). Following the Closing, except in connection with the redemption and destruction of Seller’s gaming chips and tokens described in such plan, Buyer shall cease to issue or use (and Buyer shall not reissue or reuse) any of Seller’s gaming chips or tokens. After the Closing, Buyer shall be solely responsible and liable for compliance with applicable Gaming Laws and regulations of Gaming Authorities with respect to operation and support of the business located at the Property, including any obligation to destroy such gaming chips and tokens.
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Redemption and Destruction of Chips and Tokens. Pursuant to applicable Gaming Laws, Seller shall, at least thirty (30) days prior to the Closing, submit for approval of the Casino Control Commission a plan for the redemption and destruction of all gaming chips and tokens used at the Property. After such plan is approved by the Casino Control Commission, Buyer shall redeem for cash all of Seller’s gaming chips and tokens issued prior to the Closing at the Property for a period of not less than one hundred twenty (120) days. Following the Closing, except in connection with the redemption and destruction of Seller’s gaming chips and tokens described in such plan, Buyer shall cease to issue or use (and Buyer shall not reissue or reuse) any of Seller’s gaming chips or tokens. After the Closing, Buyer shall be solely responsible and liable for compliance with applicable Gaming Laws and regulations of Gaming Authorities with respect to operation and support of the business located at the Property, including any obligation to destroy such gaming chips and tokens.
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Redemption and Destruction of Chips and Tokens. From the Effective Time until a date that is no later than the expiration date of the Transitional IP License, the Company may continue to use the Seller’s Chips that were in use prior to the Effective Time. The Company shall, if required by the applicable Gaming Laws, submit a plan to the relevant Gaming Authorities at least thirty (30) days prior to the expiration date of the Transitional IP License, or such earlier date required by the Gaming Authorities, for the redemption and destruction of all Seller’s Chips used by the Company that bear any Isle Trademarks. After such plan is approved by the relevant Gaming Authorities (or not later than the expiration date of the Transitional IP License, if no such approval is necessary), Buyer shall redeem for Cash all of the Seller’s Chips that bear any Isle Trademarks issued by the Company at the Company Property for a period of not less than one hundred and twenty (120) days. Following the expiration date of the Transitional IP License, except in connection with the redemption and destruction of the Seller’s Chips described in such plan, Buyer shall cease to issue or use (and Buyer shall not reissue or reuse) any Seller’s Chips of the Company or Seller. After the Closing, Buyer shall be solely responsible and liable for compliance with applicable Gaming Laws and regulations of Gaming Authorities with respect to operation and support of the Business subsequent to Closing, including any obligation to redeem and destroy Seller’s Chips; provided, however, that Seller shall reimburse Buyer for any of Seller’s Chips redeemed by Buyer or the Company that was not set forth on the list described in Section 3.4(a) of this Agreement.
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Redemption and Destruction of Chips and Tokens. Pursuant to applicable Gaming Laws, the Company shall, at least thirty (30) days prior to the Closing, submit to the Executive Director of the Mississippi Gaming Commission a plan for the redemption and destruction of all gaming chips and tokens used by the Company. After such plan is approved by the Mississippi Gaming Commission, Buyer shall redeem for Cash all of the Company’s gaming chips, tokens and tickets issued prior to the Closing at the Property for a period of not less than one hundred twenty (120) days. Following the Closing, except in connection with the redemption and destruction of the Company’s gaming chips, tokens and tickets described in such plan, Buyer shall cease to issue or use (and Buyer shall not reissue or reuse) any of the Company’s gaming chips, tokens or tickets. After the Closing, Buyer shall be solely responsible and liable for compliance with applicable Gaming Laws and regulations of Gaming Authorities with respect to operation and support of the Business located at the Biloxi Property subsequent to Closing, including any obligation to destroy such gaming chips, tokens and tickets.
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Redemption and Destruction of Chips and Tokens. The Company shall, if required by the applicable Gaming Laws, submit a plan to the relevant Gaming Authorities at least thirty (30) days prior to the Closing, or such other date required by the Gaming Authorities, for the redemption and destruction of all gaming chips and tokens used by the Company. After such plan is approved by the relevant Gaming Authorities (or immediately upon the Closing Date, if no such approval is necessary), Buyer shall redeem for Cash all of the gaming chips, tokens and tickets issued by the Company prior to the Closing at the Company Property for a period of not less than one hundred and twenty (120) days. Following the Closing, except in connection with the redemption and destruction of the Company’s gaming chips, tokens and tickets described in such plan, Buyer shall cease to issue or use (and Buyer shall not reissue or reuse) any such existing gaming chips, tokens or tickets of the Company or Seller. After the Closing, Buyer shall be solely responsible and liable for compliance with applicable Gaming Laws and regulations of Gaming Authorities with respect to operation and support of the Business subsequent to Closing, including any obligation to destroy such gaming chips, tokens and tickets.
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Related to Redemption and Destruction of Chips and Tokens

  • Cancellation and Destruction of Surrendered ADRs; Maintenance of Records All ADRs surrendered to the Depositary shall be canceled by the Depositary. Canceled ADRs shall not be entitled to any benefits under the Deposit Agreement or be valid or enforceable against the Depositary for any purpose. The Depositary is authorized to destroy ADRs so canceled, provided the Depositary maintains a record of all destroyed ADRs. Any ADSs held in book-entry form (e.g., through accounts at DTC) shall be deemed canceled when the Depositary causes the number of ADSs evidenced by the Balance Certificate to be reduced by the number of ADSs surrendered (without the need to physically destroy the Balance Certificate).

  • Cancellation and Destruction of ADRs All ADRs surrendered to the Depositary shall be cancelled by the Depositary. The Depositary is authorized to destroy ADRs in certificated form so cancelled in accordance with its customary practices.

  • Cancellation and Destruction of Surrendered Receipts; Maintenance of Records All Receipts surrendered to the Depositary shall be cancelled by the Depositary. The Depositary is authorized to destroy Receipts so cancelled in accordance with its customary practices. Cancelled Receipts shall not be entitled to any benefits under this Deposit Agreement or be valid or obligatory for any purpose.

  • Cancellation and Destruction All Debentures shall forthwith after payment thereof be delivered to the Trustee and cancelled by it. All Debentures cancelled or required to be cancelled under this or any other provision of this Indenture shall be destroyed by the Trustee and, if required by the Corporation, the Trustee shall furnish to it a destruction certificate setting out the designating numbers of the Debentures so destroyed.

  • Loss, Theft, Destruction or Mutilation of Note Upon receipt of evidence satisfactory to the Company of the loss, theft, destruction or mutilation of this Note, and, in the case of any such loss, theft or destruction, upon receipt of an affidavit of loss and an indemnity reasonably acceptable in form and substance to the Company from the holder thereof, or, in the case of any such mutilation, upon surrender and cancellation of this Note, the Company will make and deliver, in lieu of this Note, a new Note of like tenor and unpaid principal amount and dated as of the date to which interest has been paid on this Note.

  • Cancellation and Destruction of Surrendered Receipts All Receipts surrendered to the Depositary shall be cancelled by the Depositary. The Depositary is authorized to destroy Receipts so cancelled.

  • Cancellation and Destruction of Rights Certificates All Rights Certificates surrendered for the purpose of exercise, transfer, split up, combination or exchange shall, if surrendered to the Company or any of its agents, be delivered to the Rights Agent for cancellation or in cancelled form, or, if surrendered to the Rights Agent, shall be cancelled by it, and no Rights Certificates shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Agreement. The Company shall deliver to the Rights Agent for cancellation and retirement, and the Rights Agent shall so cancel and retire, any other Rights Certificate purchased or acquired by the Company otherwise than upon the exercise thereof. The Rights Agent shall deliver all cancelled Rights Certificates to the Company, or shall, at the written request of the Company, destroy such cancelled Rights Certificates, and in such case shall deliver a certificate of destruction thereof to the Company.

  • Cancellation and Destruction of Right Certificates All Right Certificates surrendered for the purpose of exercise, transfer, split up, combination or exchange shall, if surrendered to the Company or to any of its agents, be delivered to the Rights Agent for cancellation or in cancelled form, or, if surrendered to the Rights Agent, shall be cancelled by it, and no Right Certificates shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Rights Agreement. The Company shall deliver to the Rights Agent for cancellation and retirement, and the Rights Agent shall so cancel and retire, any other Right Certificate purchased or acquired by the Company otherwise than upon the exercise thereof. The Rights Agent shall deliver all cancelled Right Certificates to the Company, or shall, at the written request of the Company, destroy such cancelled Right Certificates, and in such case shall deliver a certificate of destruction thereof to the Company.

  • Cancellation and Destruction of Warrant Certificates All Warrant Certificates surrendered for the purpose of exercise, transfer, split up, combination or exchange shall, if surrendered to the Company or to any of its agents, be delivered to the Warrant Agent for cancellation or in canceled form, or, if surrendered to the Warrant Agent, shall be canceled by it, and no Warrant Certificates shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Agreement. The Company shall deliver to the Warrant Agent for cancellation and retirement, and the Warrant Agent shall so cancel and retire, any other Warrant Certificate purchased or acquired by the Company otherwise than upon the exercise thereof. The Warrant Agent shall deliver all canceled Warrant Certificates to the Company, or shall, at the written request of the Company, destroy such canceled Warrant Certificates, and in such case shall deliver a certificate of destruction thereof to the Company, subject to any applicable law, rule or regulation requiring the Warrant Agent to retain such canceled certificates.

  • Cancellation and Destruction of Surrendered Certificates All Certificates Surrendered to the Trustee shall be canceled by the Trustee. The Trustee is authorized to destroy Certificates so canceled.

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