Common use of Redemption Pursuant to Gaming Laws Clause in Contracts

Redemption Pursuant to Gaming Laws. (a) Notwithstanding the provisions of Section 14.2 hereof and any related paragraphs of the Securities of any series, if any Gaming Authority requires that a Holder or beneficial owner of Securities of any series must be licensed or found qualified or suitable to hold or own the Securities of any such series, but that Person is not licensed or found qualified or suitable within any time specified by such Gaming Authority, or such Gaming Authority denies a license to or finds unqualified or unsuitable such Person, the Issuer will have the right at its option to require such Person to dispose of such Person's Securities of such series within the time period prescribed by the Issuer or such other time period as may be prescribed by any Gaming Authority, which time period shall be specified in a written notice from the Issuer. If such Holder or beneficial owner, having been given the opportunity by the Issuer to dispose of such Securities, fails to dispose of such Securities within the prescribed time period, the Issuer shall have the right to call for redemption such Securities by notice of redemption to such Person.

Redemption Pursuant to Gaming Laws. (a) Notwithstanding the provisions of Section 14.2 16.2 hereof and any related paragraphs of the Securities of any series, if any Gaming Authority requires that a Holder or beneficial owner of Securities of any series must be licensed or found qualified or suitable to hold or own the Securities of any such series, but that Person is not licensed or found qualified or suitable within any time specified by such Gaming Authority, or such Gaming Authority denies a license to or finds unqualified or unsuitable such Person, the Issuer will have the right at its option to require such Person to dispose of such Person's Securities of such series within the time period prescribed by the Issuer or such other time period as may be prescribed by any Gaming Authority, which time period shall be specified in a written notice from the Issuer. If such Holder or beneficial owner, having been given the opportunity by the Issuer to dispose of such Securities, fails to dispose of such Securities within the prescribed time period, the Issuer shall have the right to call for redemption such Securities by notice of redemption to such Person.