Common use of Redemption Pursuant to Gaming Laws Clause in Contracts

Redemption Pursuant to Gaming Laws. a. If the ownership of this Note by any person or entity will preclude, interfere with, threaten or delay the issuance, maintenance, existence or reinstatement of any gaming or liquor license, or permit or approval of any Gaming Authority, or result in the imposition of burdensome terms or conditions on such license, permit or approval, as determined by any Governmental Authority or the general partner of the Company (including, without limitation, such Holder failing to qualify or to be found suitable under applicable Gaming Laws), such Holder shall be obligated, at the request of the Company, to dispose of this Note (subject to any restrictions on the transfer of this Note set forth herein or otherwise provided by applicable law and subject to any approvals by any Gaming Authority that may be required) within thirty (30) days (or such other time period required by any Gaming Authority) after receipt of notice of such determination by any Governmental Authority or the general partner (in which event the Company shall have no obligation to pay any interest to such Holder), and if this Note is not so disposed of within the required period, the Company shall have the right to redeem such Holder's Note at a redemption price equal to the principal amount of this Note, without accrued interest, if any. Any Holder or beneficial owner of this Note that is required to qualify or be found suitable under applicable Gaming Laws must pay all investigative fees and costs of the Gaming Authorities in connection with such application therefor.

Redemption Pursuant to Gaming Laws. a. If the ownership of this Note by any person or entity will preclude, interfere with, threaten or delay the issuance, maintenance, existence or reinstatement of any gaming or liquor license, or permit or approval of any Gaming Authority, or result in the imposition of burdensome terms or conditions on such license, permit or approval, as determined by any Governmental Authority or the general partner of the Company (including, without limitation, such Holder failing to qualify or to be found suitable under applicable Gaming Laws), such Holder shall be obligated, at the request of the Company, to dispose of this Note (subject to any restrictions on the transfer of this Note set forth herein or otherwise provided by applicable law and subject to any approvals by any Gaming Authority that may be required) within thirty (30) days (or such other time period required by any Gaming Authority) after receipt of notice of such determination by any Governmental Authority or the general partner (in which event the Company shall have no obligation to pay any interest to such Holder), and if this Note is not so disposed of within the required period, the Company shall have the right to redeem such Holder's Note at a redemption price equal to the principal amount of this Note, without accrued interest, if any. Any Holder or beneficial owner of this Note that is required to qualify or be found suitable under applicable Gaming Laws must pay all investigative fees and costs of the Gaming Authorities in connection with such application therefor.if

Redemption Pursuant to Gaming Laws. a. If Subject to the provisions of subsection (b) below with regard to the Mississippi Gaming Commission and notwithstanding any other provision of this Agreement, if the ownership of this Note by any person or entity will preclude, interfere with, threaten or delay the issuance, maintenance, existence or reinstatement of any gaming or liquor license, or permit or approval of any Gaming Authority, or result in the imposition of burdensome terms or conditions on such license, permit or approval, as determined by any Governmental Authority or the general partner of the Company (including, without limitation, such Holder failing to qualify or to be found suitable under applicable Gaming Laws), such Holder shall be obligated, at the request of the Company, to dispose of this Note (subject to any restrictions on the transfer of this Note set forth herein or otherwise provided by applicable law and subject to any approvals by any Gaming Authority that may be required) within thirty (30) days (or such other time period required by any Gaming Authority) after receipt of notice of such determination by any Governmental Authority or the general partner (in which event the Company shall have no obligation to pay any interest to such Holder), and if this Note is not so disposed of within the required period, the Company shall have the right to redeem such Holder's Note at a redemption price equal to the principal amount of this Note, without accrued interest, if any. Any Holder or beneficial owner of this Note that is required to qualify or be found suitable under applicable Gaming Laws must pay all investigative fees and costs of the Gaming Authorities in connection with such application therefor.