Common use of Regulated Persons Clause in Contracts

Regulated Persons. Each of the Majestic Entities and each of their respective directors, members, managers, officers and employees (each of the Majestic Entities and each of such other persons, a "REGULATED PERSON" and, collectively, the "REGULATED PERSONS") has all Permits (including, without limitation, Permits with respect to engaging in gaming operations) necessary or advisable to own, lease, use and operate the properties and assets and to conduct and carry on the businesses described in the Offering Circular, other than (i) such Permits the failure of which to have would not, singly or in the aggregate, have a Material Adverse Effect and (ii) the approval of the Nevada Gaming Commission of (A) the pledge by the Company of its membership interests in Barden Nevada Gaming, LLC in connection with the New Credit Facilxxx xxd (B) the Exchange Offer. All such Permits are valid and in full force and effect. Each of the Regulated Persons is in compliance with the terms and conditions of all Permits (including, without limitation, Permits with respect to engaging in gaming operations) necessary or advisable to own, lease, use and operate the properties and assets and to conduct and carry on the businesses described in the Offering Circular, other than where such failure to be in compliance would not, singly or in the aggregate, have a Material Adverse Effect. None of the execution, delivery or performance of any of the Documents, nor the compliance with the terms and provisions thereof, nor the consummation of any of the Transactions will allow or result in, and no event has occurred which allows or results in, or after notice or lapse of time would allow or result in, the imposition of any material penalty under, or the revocation or termination of, any such Permit or any material impairment of the rights of the holder of any such Permit. None of the Majestic Entities has any reason to believe that any issuer is considering limiting, conditioning, suspending, modifying, revoking or not renewing any such Permit.

Regulated Persons. Each of the Majestic Entities and each of their Issuers’ respective directors, members, managers, officers officers, key personnel and employees persons holding a five percent or greater equity or economic interest in either of the Issuers (each of the Majestic Entities and each of such other persons, a "REGULATED PERSON" “Regulated Person” and, collectively, the "REGULATED PERSONS"“Regulated Persons”) has, or has applied for, and is in compliance with the terms and conditions of, all Permits (including, without limitation, Permits with respect to engaging in gaming operations) necessary or advisable to own, lease, use and operate the properties and assets and to conduct and carry on the businesses described in the Offering Circular, other than (i) such Permits the failure of which to have would not, singly or in the aggregate, have a Material Adverse Effect and (ii) the approval of the Nevada Gaming Commission of (A) the pledge by the Company of its membership interests in Barden Nevada Gaming, LLC in connection with the New Credit Facilxxx xxd (B) the Exchange Offera “Material Permit”). All such Material Permits are valid and in full force and effect. Each of the Regulated Persons is in compliance with the terms and conditions of all Permits (including, without limitation, Permits with respect to engaging in gaming operations) necessary or advisable to own, lease, use and operate the properties and assets and to conduct and carry on the businesses described in the Offering Circular, other than where such failure to be in compliance would not, singly or in the aggregate, have a Material Adverse Effect. None of the execution, delivery or performance of any of the Transaction Documents, nor the compliance with the terms and provisions thereof, nor the consummation of any of the Transactions Transactions, will allow or result in, and no event has occurred which allows or results in, or after notice or lapse of time would allow or result in, the imposition of any material penalty under, or the revocation or termination of, any such Material Permit or any material impairment of the rights of the holder of any such Material Permit. None Neither of the Majestic Entities Issuers has received any notice from any issuer, and neither of the Issuers has any reason to believe that any issuer is considering limiting, conditioning, suspending, modifying, revoking or not renewing any such Material Permit.

Regulated Persons. Each of the Majestic Entities Issuers and the Subsidiary Guarantors and each of their respective directors, members, managers, officers and employees (each of the Majestic Entities Issuers and the Subsidiary Guarantors and each of such other persons, a "REGULATED PERSONRegulated Person" and, collectively, the "REGULATED PERSONSRegulated Persons") has all Permits (including, without limitation, Permits with respect to engaging in gaming operations) necessary or advisable to own, lease, use and operate the properties and assets and to conduct and carry on the businesses described in the Offering Circular, other than (i) such Permits the failure of which to have would not, singly or in the aggregate, have a Material Adverse Effect and (ii) the approval of the Nevada Gaming Commission of on (A) the pledge by the Company Parent of its membership interests in Barden Nevada Gamingthe Company, LLC in connection with the New Credit Facilxxx xxd and (B) the Exchange Offer. All such Permits are valid and in full force and effect. Each of the Regulated Persons is in compliance with the terms and conditions of all Permits (including, without limitation, Permits with respect to engaging in gaming operations) necessary or advisable to own, lease, use and operate the properties and assets and to conduct and carry on the businesses described in the Offering Circular, other than where such failure to be in compliance would not, singly or in the aggregate, have a Material Adverse Effect. None of the execution, delivery or performance of any of the Documents, nor the compliance with the terms and provisions thereof, nor the consummation of any of the Transactions will allow or result in, and no event has occurred which allows or results in, or after notice or lapse of time would allow or result in, the imposition of any material penalty under, or the revocation or termination of, any such Permit or any material impairment of the rights of the holder of any such Permit. None of the Majestic Entities Issuers or Subsidiary Guarantors has any reason to believe that any issuer is considering limiting, conditioning, suspending, modifying, revoking or not renewing any such Permit.

Regulated Persons. Each of the Majestic Entities and each of their Issuers’ respective directors, membersofficers, managerskey personnel, officers partners, members and employees persons holding a five percent or greater equity or economic interest in the Issuers (each of the Majestic Entities and each of such other persons, a "REGULATED PERSON" “Regulated Person” and, collectively, the "REGULATED PERSONS"“Regulated Persons”) has all Permits (including, without limitation, Permits with respect to engaging in gaming operations) necessary or advisable to own, lease, use and operate the properties and assets and to conduct and carry on the businesses described in the Offering Circular, other than (i) such Permits the failure of which to have would not, singly or in the aggregate, have a Material Adverse Effect and (ii) the approval of the Nevada Gaming Commission of (A) the pledge by the Company of its membership interests in Barden Nevada Gaming, LLC in connection with the New Credit Facilxxx xxd (B) the Exchange Offera “Material Permit”). All such Material Permits are valid and in full force and effect. Each of the Regulated Persons is in compliance with the terms and conditions of all Permits (including, without limitation, Permits with respect to engaging in gaming or racing operations) necessary or advisable to own, lease, use and operate the properties and assets and to conduct and carry on the businesses described in the Offering Circular, other than where such failure to be in compliance would not, singly or in the aggregate, have a Material Adverse Effect. None of the execution, delivery or performance of any of the Operative Documents, nor the compliance with the terms and provisions thereof, nor the consummation of any of the Transactions Transactions, will allow or result in, and no event has occurred which allows or results in, or after notice or lapse of time would allow or result in, the imposition of any material penalty under, or the revocation or termination of, any such Material Permit or any material impairment of the rights of the holder of any such Material Permit. None Neither of the Majestic Entities Issuers has received any reason to believe notice from any issuer, and the Issuers have no actual knowledge, that any issuer is considering limiting, conditioning, suspending, modifying, revoking or not renewing any such Material Permit.

Regulated Persons. Each of the Majestic Entities Issuers’ and each of their the Guarantors’ respective directors, members, managers, officers officers, key personnel and employees persons holding a five percent or greater equity or economic interest in any of the Issuers or Guarantors (each of the Majestic Entities and each of such other persons, a "REGULATED PERSON" “Regulated Person” and, collectively, the "REGULATED PERSONS"“Regulated Persons”) has has, and is in compliance with the terms and conditions of, all Permits (including, without limitation, Permits with respect to engaging in gaming operations) necessary or advisable to own, lease, use and operate the properties and assets and to conduct and carry on the businesses described in the Offering Circular, other than (i) such Permits the failure of which to have would not, singly or in the aggregate, have a Material Adverse Effect and (ii) the approval of the Nevada Gaming Commission of (A) the pledge by the Company of its membership interests in Barden Nevada Gaming, LLC in connection with the New Credit Facilxxx xxd (B) the Exchange Offera “Material Permit”). All such Material Permits are valid and in full force and effect. Each of the Regulated Persons is in compliance with the terms and conditions of all Permits (including, without limitation, Permits with respect to engaging in gaming operations) necessary or advisable to own, lease, use and operate the properties and assets and to conduct and carry on the businesses described in the Offering Circular, other than where such failure to be in compliance would not, singly or in the aggregate, have a Material Adverse Effect. None of the execution, delivery or performance of any of the Transaction Documents, nor the compliance with the terms and provisions thereof, nor the consummation of any of the Transactions Transactions, will allow or result in, and no event has occurred which allows or results in, or after notice or lapse of time would allow or result in, the imposition of any material penalty under, or the revocation or termination of, any such Material Permit or any material impairment of the rights of the holder of any such Material Permit. None of the Majestic Entities Issuers or Guarantors has received any notice from any issuer, and none of the Issuers or Guarantors has any reason to believe that any issuer is considering limiting, conditioning, suspending, modifying, revoking or not renewing any such Material Permit.

Regulated Persons. Each of the Majestic Entities Issuers and the Subsidiary Guarantors and each of their respective directors, members, managers, officers and employees (each of the Majestic Entities Issuers and the Subsidiary Guarantors and each of such other persons, a "REGULATED PERSONRegulated Person" and, collectively, the "REGULATED PERSONSRegulated Persons") has all Permits (including, without limitation, Permits with respect to engaging in gaming operations) necessary or advisable to own, lease, use and operate the properties and assets and to conduct and carry on the businesses described in the Offering Circular, other than (i) such Permits the failure of which to have would not, singly or in the aggregate, have a Material Adverse Effect and (ii) the approval of the Nevada Gaming Commission of (A) the pledge by the Company of its membership interests in Barden Nevada Gaming, LLC in connection with the New Credit Facilxxx xxd (B) on the Exchange Offer. All such Permits are valid and in full force and effect. Each of the Regulated Persons is in compliance with the terms and conditions of all Permits (including, without limitation, Permits with respect to engaging in gaming operations) necessary or advisable to own, lease, use and operate the properties and assets and to conduct and carry on the businesses described in the Offering Circular, other than where such failure to be in compliance would not, singly or in the aggregate, have a Material Adverse Effect. None of the execution, delivery or performance of any of the Documents, nor the compliance with the terms and provisions thereof, nor the consummation of any of the Transactions will allow or result in, and no event has occurred which allows or results in, or after notice or lapse of time would allow or result in, the imposition of any material penalty under, or the revocation or termination of, any such Permit or any material impairment of the rights of the holder of any such Permit. None of the Majestic Entities Issuers or Subsidiary Guarantors has any reason to believe that any issuer Regulated Person is considering limiting, conditioning, suspending, modifying, revoking or not renewing any such Permit.