Common use of Regulatory Redemption Clause in Contracts

Regulatory Redemption. Notwithstanding any other provisions of the Indenture, if any Gaming Regulatory Authority requires that a Holder or beneficial owner of the Securities must be licensed, qualified or found suitable under any applicable gaming laws in order to maintain any gaming license or franchise related to the Mohegan Sun under any applicable gaming laws, and the Holder or beneficial owner fails to apply for a license, qualification or finding of suitability within 30 days after being requested to do so by such Gaming Regulatory Authority (or such lesser period that may be required by such Gaming Regulatory Authority) or if such Holder or beneficial owner is not so licensed, qualified or found suitable, the Company shall have the right, at its option: (a) to require such Holder or beneficial owner to dispose of such Holder's or beneficial owner's Securities within 30 days of receipt of such finding by the applicable Gaming Regulatory Authority (or such earlier date as may be required by the applicable Gaming Regulatory Authority); or (b) to call for redemption of the Securities of such Holder or beneficial owner (a "Required Redemption") at a redemption price equal to (i) the lesser of the principal amount thereof or, if required by such Gaming Authority, the price at which such Holder or beneficial owner acquired the Securities, if less than the principal amount thereof, together with, in either case, accrued and unpaid interest to the earlier of the date of redemption or the date of the finding of unsuitability by such Gaming Regulatory Authority, which may be less than 30 days following the notice of redemption if so ordered by such Gaming Regulatory Authority or (ii) such other amount as may be determined by such Gaming Regulatory Authority. In connection with any Required Redemption, and except as may be required by a Gaming Regulatory Authority, the Company shall comply with the procedures contained in the Indenture for redemptions of the Securities. The Company is not required to pay or reimburse any Holder of the Securities or beneficial owner of Securities who is required to apply for any such license, qualification or finding of suitability for the costs of the licensure or investigation for such qualification or finding of suitability. Such expenses will, therefore, be the obligation of such Holder or beneficial owner.

Regulatory Redemption. Notwithstanding any other provisions of the Indenture, if If any Gaming Regulatory Authority requires that a Holder or beneficial owner of the Securities Notes must be licensed, qualified or found suitable under any applicable gaming laws in order to maintain any gaming license or franchise related to the Mohegan Sun under any applicable gaming laws, law and the such Holder or beneficial owner fails to apply for a license, qualification or a finding of suitability within 30 days after being requested to do so by such the Gaming Regulatory Authority (or such lesser period that may be required by such Gaming Regulatory Authority) ), or if such Holder or such beneficial owner is not so licensed, qualified or found suitable, the Company shall have the right, at its option: , (a) to require such Holder or beneficial owner to dispose of such Holder's or beneficial owner's Securities Notes within 30 days of receipt of notice of such finding by the applicable Gaming Regulatory Authority (or such earlier date as may be required ordered by the applicable such Gaming Regulatory Authority); or Authority or (b) to call for the redemption (a "Regulatory Redemption") of the Securities Notes of such Holder or beneficial owner (a "Required Redemption") at a redemption price equal to (i) the lesser of the principal amount thereof or, if required by such Gaming Authority, the lesser of (i) the price at which such Holder or beneficial owner acquired the Securities, if less than Notes and (ii) the principal amount thereoffair market value of such Notes on the date of redemption, together with, in either case, accrued and unpaid interest and, if permitted by such Gaming Authority, Liquidated Damages, if any, to the earlier earliest of the date of redemption or redemption, (y) such earlier date as may be required by such Gaming Authority and (z) the date of the finding of unsuitability by such Gaming Regulatory Authority, any of which dates may be less than 30 days following the notice of redemption redemption, if so ordered by such Gaming Regulatory Authority or (ii) such other amount as may be determined by such Gaming Regulatory Authority. In connection with any Required Redemption, and except as may be required by a Gaming Regulatory Authority, the Company shall comply with the procedures contained in the Indenture for redemptions of the Securities. The Company is not required to pay or reimburse shall notify the Trustee in writing of any Holder such redemption as soon as practicable and of the Securities redemption price of each Note to be redeemed. The Holder or beneficial owner of Securities who is required to apply applying for any such a license, qualification or a finding of suitability for the must pay all costs of the licensure or and investigation for such qualification or finding of suitability. Such expenses will, therefore, be the obligation of such Holder or beneficial owner.

Regulatory Redemption. Notwithstanding any other provisions of the Indenture, if If any Gaming Regulatory Authority requires that a Holder or beneficial owner of the Securities Notes must be licensed, qualified or found suitable under any applicable gaming laws in order to maintain any gaming license or franchise related to the Mohegan Sun under any applicable gaming laws, law and the such Holder or beneficial owner fails to apply for a license, qualification or a finding of suitability within 30 days after being requested to do so by such the Gaming Regulatory Authority (or such lesser period that may be required by such Gaming Regulatory Authority) ), or if such Holder or such beneficial owner is not so licensed, qualified or found suitable, the Company shall have the right, at its option: , (a1) to require such Holder or beneficial owner to dispose of such Holder's or beneficial owner's Securities Notes within 30 days of receipt of notice of such finding by the applicable Gaming Regulatory Authority (or such earlier date as may be required ordered by the applicable such Gaming Regulatory Authority); or Authority or (b2) to call for the redemption (a "Regulatory Redemption") of the Securities Notes of such Holder or beneficial owner (a "Required Redemption") at a redemption price equal to (i) the lesser of the principal amount thereof or, if required by such Gaming Authority, the lesser of the price at which such Holder or beneficial owner acquired the SecuritiesNotes, if less than or the principal amount thereoffair market value of such Notes on the date of redemption, together with, in either case, accrued and unpaid interest and, if permitted by such Gaming Authority, Liquidated Damages, to the earlier of the date of redemption or such earlier date as may be required by such Gaming Authority or the date of the finding of unsuitability by such Gaming Regulatory Authority, which may be less than 30 days following the notice of redemption redemption, if so ordered by such Gaming Regulatory Authority or (ii) such other amount as may be determined by such Gaming Regulatory Authority. In connection with any Required Redemption, and except as may be required by a Gaming Regulatory Authority, the Company shall comply with the procedures contained in the Indenture for redemptions of the Securities. The Company is shall notify the Trustee in writing of any such redemption as soon as practicable and the redemption price of each Note to be redeemed. The Holder or beneficial owner applying for a license, qualification or a finding of suitability must pay all costs of the licensure and investigation for such qualification or finding of suitability. The Company shall not be required to pay or reimburse any Holder of the Securities Notes or beneficial owner of Securities who is required to apply for any such license, qualification or finding of suitability for the costs of the licensure or and investigation for such qualification or finding of suitability. Such expenses will, therefore, be the obligation of such Holder or beneficial owner.

Regulatory Redemption. Notwithstanding any other provisions of the Indenture, if If any Gaming Regulatory Authority requires that a Holder or beneficial owner of the Securities must be licensed, qualified or found suitable under any applicable gaming laws in order to maintain any gaming license or franchise related to the Mohegan Sun under any applicable gaming laws, law and the such Holder or beneficial owner fails to apply for a license, qualification or a finding of suitability within 30 days after being requested to do so by such the Gaming Regulatory Authority (or such lesser period that may be required by such Gaming Regulatory Authority) ), or if such Holder or such beneficial owner is not so licensed, qualified or found suitable, the Company shall have the right, at its option: , (ai) to require such Holder or beneficial owner to dispose of such Holder's ’s or beneficial owner's ’s Securities within 30 10 days of receipt of such notice of such finding by the applicable such Gaming Regulatory Authority (or such earlier other date as may be required ordered by the applicable such Gaming Regulatory Authority); or Authority or (bii) to call for the redemption of the Securities of such Holder or beneficial owner (a "Required Redemption") at a redemption price equal to (i) the lesser of the principal amount thereof orthereof, if required by the Fair Market Value of such Gaming Authority, Securities on the date of redemption or the price at which such Holder or beneficial owner acquired the Securities, if less than the principal amount thereof, together with, in either case, accrued and unpaid interest to the earlier of the date of redemption or and the date of the finding of unsuitability by such Gaming Regulatory Authority, which may be less than 30 days following the notice of redemption if so ordered by such Gaming Regulatory Authority or (ii) such other amount as may be determined by such Gaming Regulatory Authority. In connection with any Required Redemption, and except as may be required by a Gaming Regulatory Authority, the The Company shall comply with notify the procedures contained Trustee in writing of any such redemption as soon as practicable and the Indenture redemption price of each Security to be redeemed. The Holder of Securities or beneficial owner applying for redemptions a license, qualification or a finding of suitability must pay all costs of the Securitieslicensure and investigation for such qualification or finding of suitability. The Company is not required to pay or reimburse any Holder of the Securities or beneficial owner of Securities who is required to apply for any such license, qualification or finding of suitability for the costs of the licensure or investigation for such qualification or finding of suitability. Such expenses expense will, therefore, be the obligation of such Holder or beneficial owner.

Regulatory Redemption. Notwithstanding any other provisions of the Indenture, if If any Gaming Regulatory Authority requires that a Holder or beneficial owner of the Securities Notes must be licensed, qualified or found suitable under any applicable gaming laws in order to maintain any gaming license or franchise related to the Mohegan Sun under any applicable gaming laws, Gaming Law and the such Holder or beneficial owner fails to apply for a license, qualification or a finding of suitability within 30 days after being requested to do so by such the Gaming Regulatory Authority (or such lesser period that may be required by such Gaming Regulatory Authority) ), or if such Holder or such beneficial owner is not so licensed, qualified or found suitable, the Company Issuers shall have the right, at its the Issuers’ option: , (a1) to require such Holder or beneficial owner to dispose of such Holder's ’s or beneficial owner's Securities ’s Notes within 30 days of receipt of notice of such finding by the applicable Gaming Regulatory Authority (or such earlier date as may be required ordered by the applicable such Gaming Regulatory Authority); or Authority or (b2) to call for the redemption (a “Regulatory Redemption”) of the Securities Notes of such Holder or beneficial owner (a "Required Redemption") at a redemption price equal to (i) the lesser of the principal amount Accreted Value thereof or, if required by such Gaming Authority, the lesser of (a) the price at which such Holder or beneficial owner acquired the SecuritiesNotes, if less than and (b) the principal amount thereoffair market value of such Notes on the date of redemption, together with, in either case, accrued and unpaid interest Interest (and, if permitted by such Gaming Authority, Liquidated Damages) to the earlier of the date of redemption or such earlier date as may be required by such Gaming Authority or the date of the finding of unsuitability by such Gaming Regulatory Authority, which may be less than 30 days following the notice of redemption redemption, if so ordered by such Gaming Regulatory Authority or (ii) such other amount as may be determined by such Gaming Regulatory Authority. In connection with The Issuers shall notify the Trustee in writing of any Required Redemptionsuch redemption as soon as practicable and the redemption price of each Note to be redeemed. The Holder or beneficial owner applying for a license, qualification or a finding of suitability must pay all costs of the licensure and except as may be required by a Gaming Regulatory Authorityinvestigation for such qualification or finding of suitability. Under this Indenture, the Company shall comply with the procedures contained in the Indenture for redemptions of the Securities. The Company is Issuers are not required to pay or reimburse any Holder of the Securities Notes or beneficial owner of Securities who is required to apply for any such license, qualification or finding of suitability for the costs of the licensure or and investigation for such qualification or finding of suitability. Such expenses expense will, therefore, be the obligation of such Holder or beneficial owner.

Regulatory Redemption. Notwithstanding any other provisions of the Indenture, if If any Gaming Regulatory Authority requires that a Holder or beneficial owner of the Securities must be licensed, qualified or found suitable under any applicable gaming laws in order to maintain any gaming license or franchise related to the Mohegan Sun under any applicable gaming laws, law and the such Holder or beneficial owner fails to apply for a license, qualification or a finding of suitability within 30 days after being requested to do so by such the Gaming Regulatory Authority (or such lesser period that may be required by such Gaming Regulatory Authority) ), or if such Holder or such beneficial owner is not so licensed, qualified or found suitable, the Company shall have the right, at its option: , (ai) to require such Holder or beneficial owner to dispose of such Holder's or beneficial owner's Securities within 30 days of receipt of such notice of such finding by the applicable Gaming Regulatory Authority (or such earlier date as may be required ordered by the applicable such Gaming Regulatory Authority); or Authority or (bii) to call for the redemption of the Securities of such Holder or beneficial owner (a "Required Redemption") at a redemption price equal to (i) the lesser of the principal amount thereof orthereof, if required by the fair market value of such Gaming Authority, Securities on the date of redemption or the price at which such Holder or beneficial owner acquired the Securities, if less than the principal amount thereof, together with, in either case, accrued and unpaid interest to the earlier of the date of redemption or such earlier date as may be required by such Gaming Authority or the date of the finding of unsuitability by such Gaming Regulatory Authority, which may be less than 30 days following the notice of redemption redemption, if so ordered by such Gaming Regulatory Authority or (ii) such other amount as may be determined by such Gaming Regulatory Authority. In connection with any Required Redemption, and except as may be required by a Gaming Regulatory Authority, the The Company shall comply with notify the procedures contained Trustee in writing of any such redemption as soon as practicable and the Indenture redemption price of each Security to be redeemed. The Holder of Securities or beneficial owner applying for redemptions a license, qualification or a finding of suitability must pay all costs of the Securitieslicensure and investigation for such qualification or finding of suitability. The Company is not required to pay or reimburse any Holder of the Securities or beneficial owner of Securities who is required to apply for any such license, qualification or finding of suitability for the costs of the licensure or investigation for such qualification or finding of suitability. Such expenses expense will, therefore, be the obligation of such Holder or beneficial owner.

Regulatory Redemption. Notwithstanding any other provisions of the Indenture, if If any Gaming Regulatory Authority requires that a Holder or beneficial owner of the Securities Notes must be licensed, qualified or found suitable under any applicable gaming laws in order to maintain any gaming license or franchise related to the Mohegan Sun under any applicable gaming laws, Gaming Law and the such Holder or beneficial owner fails to apply for a license, qualification or a finding of suitability within 30 days after being requested to do so by such the Gaming Regulatory Authority (or such lesser period that may be required by such Gaming Regulatory Authority) ), or if such Holder or such beneficial owner is not so licensed, qualified or found suitable, the Company Issuers shall have the right, at its the Issuers’ option: , (a1) to require such Holder or beneficial owner to dispose of such Holder's ’s or beneficial owner's Securities ’s Notes within 30 days of receipt of notice of such finding by the applicable Gaming Regulatory Authority (or such earlier date as may be required ordered by the applicable such Gaming Regulatory Authority); or Authority or (b2) to call for the redemption (a “Regulatory Redemption”) of the Securities Notes of such Holder or beneficial owner (a "Required Redemption") at a redemption price equal to (i) the lesser of the principal amount thereof or, if required by such Gaming Authority, the lesser of (a) the price at which such Holder or beneficial owner acquired the SecuritiesNotes, if less than and (b) the principal amount thereoffair market value of such Notes on the date of redemption, together with, in either case, accrued and unpaid interest Interest (and, if permitted by such Gaming Authority, Liquidated Damages) to the earlier of the date of redemption or such earlier date as may be required by such Gaming Authority or the date of the finding of unsuitability by such Gaming Regulatory Authority, which may be less than 30 days following the notice of redemption redemption, if so ordered by such Gaming Regulatory Authority or (ii) such other amount as may be determined by such Gaming Regulatory Authority. In connection with The Issuers shall notify the Trustee in writing of any Required Redemptionsuch redemption as soon as practicable and the redemption price of each Note to be redeemed. The Holder or beneficial owner applying for a license, qualification or a finding of suitability must pay all costs of the licensure and except as may be required by a Gaming Regulatory Authorityinvestigation for such qualification or finding of suitability. Under this Indenture, the Company shall comply with the procedures contained in the Indenture for redemptions of the Securities. The Company is Issuers are not required to pay or reimburse any Holder of the Securities Notes or beneficial owner of Securities who is required to apply for any such license, qualification or finding of suitability for the costs of the licensure or and investigation for such qualification or finding of suitability. Such expenses expense will, therefore, be the obligation of such Holder or beneficial owner.

Regulatory Redemption. Notwithstanding any other provisions of the Indenturehereof, if any Gaming Regulatory Authority requires that a Holder or beneficial owner of the Securities Notes must be licensed, qualified or found suitable under any applicable gaming laws in order to maintain any gaming license or franchise related to the Mohegan Sun under any applicable gaming laws, Gaming Law and the such Holder or beneficial owner fails to apply for a license, qualification or a finding of suitability within 30 days after being requested to do so by such the Gaming Regulatory Authority (or such lesser period that may be required by such Gaming Regulatory Authority) ), or if such Holder or such beneficial owner is not so licensed, qualified or found suitable, the Company Issuers shall have the right, at its the Issuers’ option: , (a1) to require such Holder or beneficial owner to dispose of such Holder's ’s or beneficial owner's Securities ’s Notes within 30 days of receipt of notice of such finding by the applicable Gaming Regulatory Authority (or such earlier date as may be required ordered by the applicable such Gaming Regulatory Authority); or Authority or (b2) to call for the redemption (a “Regulatory Redemption”) of the Securities Notes of such Holder or beneficial owner (a "Required Redemption") at a redemption price equal to (i) the lesser of the principal amount thereof or, if required by such Gaming Authority, the lesser of (a) the price at which such Holder or beneficial owner acquired the SecuritiesNotes, if less than and (b) the principal amount thereoffair market value of such Notes on the date of redemption, together with, in either case, accrued and unpaid interest Interest (and, if permitted by such Gaming Authority, Liquidated Damages) to the earlier of the date of redemption or such earlier date as may be required by such Gaming Authority or the date of the finding of unsuitability by such Gaming Regulatory Authority, which may be less than 30 days following the notice of redemption redemption, if so ordered by such Gaming Regulatory Authority or (ii) such other amount as may be determined by such Gaming Regulatory Authority. In connection with any Required Redemption, and except as may be required by a Gaming Regulatory Authority, the Company shall comply with the procedures contained in the Indenture for redemptions of the Securities. The Company is Issuers are not required to pay or reimburse any Holder of the Securities or beneficial owner of Securities who is required the Notes for the expenses of any such Holder or beneficial owner related to apply the application for any such license, qualification or finding of suitability for the costs of the licensure or investigation for such qualification or finding of suitabilityin connection with a Regulatory Redemption. Such expenses willof any such Holder or beneficial owner shall, therefore, be the obligation of such Holder or beneficial owner.

Regulatory Redemption. Notwithstanding any other provisions of the Indenturehereof, if any Gaming Regulatory Authority requires that a Holder or beneficial owner of the Securities Notes must be licensed, qualified or found suitable under any applicable gaming laws in order to maintain any gaming license or franchise related to the Mohegan Sun under any applicable gaming laws, Gaming Law and the such Holder or beneficial owner fails to apply for a license, qualification or a finding of suitability within 30 days after being requested to do so by such the Gaming Regulatory Authority (or such lesser period that may be required by such Gaming Regulatory Authority) ), or if such Holder or such beneficial owner is not so licensed, qualified or found suitable, the Company Issuers shall have the right, at its the Issuers’ option: , (a1) to require such Holder or beneficial owner to dispose of such Holder's ’s or beneficial owner's Securities ’s Notes within 30 days of receipt of notice of such finding by the applicable Gaming Regulatory Authority (or such earlier date as may be required ordered by the applicable such Gaming Regulatory Authority); or Authority or (b2) to call for the redemption (a “Regulatory Redemption”) of the Securities Notes of such Holder or beneficial owner (a "Required Redemption") at a redemption price equal to (i) the lesser of the principal amount Accreted Value thereof or, if required by such Gaming Authority, the lesser of (a) the price at which such Holder or beneficial owner acquired the SecuritiesNotes, if less than and (b) the principal amount thereoffair market value of such Notes on the date of redemption, together with, in either case, accrued and unpaid interest Interest (and, if permitted by such Gaming Authority, Liquidated Damages) to the earlier of the date of redemption or such earlier date as may be required by such Gaming Authority or the date of the finding of unsuitability by such Gaming Regulatory Authority, which may be less than 30 days following the notice of redemption redemption, if so ordered by such Gaming Regulatory Authority or (ii) such other amount as may be determined by such Gaming Regulatory Authority. In connection with any Required Redemption, and except as may be required by a Gaming Regulatory Authority, the Company shall comply with the procedures contained in the Indenture for redemptions of the Securities. The Company is Issuers are not required to pay or reimburse any Holder of the Securities or beneficial owner of Securities who is required the Notes for the expenses of any such Holder or beneficial owner related to apply the application for any such license, qualification or finding of suitability for the costs of the licensure or investigation for such qualification or finding of suitabilityin connection with a Regulatory Redemption. Such expenses willof any such Holder or beneficial owner shall, therefore, be the obligation of such Holder or beneficial owner.

Regulatory Redemption. Notwithstanding any other provisions of the Indentureprovision hereof, if any Gaming Regulatory Authority requires that a Holder or beneficial owner of the Securities Notes must be licensed, qualified or found suitable under any applicable gaming laws in order to maintain any gaming license or franchise related to the Mohegan Sun under any applicable gaming laws, Gaming Law and the such Holder or beneficial owner fails to apply for a license, qualification or a finding of suitability within 30 days after being requested to do so by such the Gaming Regulatory Authority (or such lesser period that may be required by such Gaming Regulatory Authority) ), or if such Holder or such beneficial owner is not so licensed, qualified or found suitable, the Company shall have the right, at its option: , (a1) to require such Holder or beneficial owner to dispose of such Holder's ’s or beneficial owner's Securities ’s Notes within 30 days of receipt of notice of such finding by the applicable Gaming Regulatory Authority (or such earlier date as may be required ordered by the applicable such Gaming Regulatory Authority); or Authority or (b2) to call for the redemption (a “Required Regulatory Redemption”) of the Securities Notes of such Holder or beneficial owner (a "Required Redemption") at a redemption price equal to (i) the lesser of the principal amount thereof or, if required by such Gaming Authority, the lesser of (a) the price at which such Holder or beneficial owner acquired the SecuritiesNotes, if less than and (b) the principal amount thereoffair market value of such Notes on the Redemption Date, together with, in either case, accrued and unpaid interest and, if permitted by such Gaming Authority, Liquidated Damages, to the earlier of the Redemption Date or such earlier date of redemption as may be required by such Gaming Authority or the date of the finding of unsuitability by such Gaming Regulatory Authority, which may be less than 30 days following the notice of redemption redemption, if so ordered by such Gaming Regulatory Authority or (ii) such other amount as may be determined by such Gaming Regulatory Authority. In connection with any Required Redemption, and except as may be required by a Gaming Regulatory Authority, the The Company shall comply with notify the procedures contained Trustee in writing of any such redemption as soon as practicable and the Indenture Redemption Price of each Note to be redeemed. The Holder or beneficial owner applying for redemptions a license, qualification or a finding of suitability must pay all costs of the Securitieslicensure and investigation for such qualification or finding of suitability. The Company is not required to pay or reimburse any Holder of the Securities Notes or beneficial owner of Securities who is required to apply for any such license, qualification or finding of suitability for the costs of the licensure or and investigation for such qualification or finding of suitability. Such expenses expense will, therefore, be the obligation of such Holder or beneficial owner.

Regulatory Redemption. Notwithstanding any other provisions of the Indenture, if If any Gaming Regulatory Authority requires that a Holder or beneficial owner of the Securities must be licensed, qualified or found suitable under any applicable gaming laws in order to maintain any gaming license or franchise related to the Mohegan Sun under any applicable gaming laws, law and the such Holder or beneficial owner fails to apply for a license, qualification or a finding of suitability within 30 days after being requested to do so by such the Gaming Regulatory Authority (or such lesser period that may be required by such Gaming Regulatory Authority) ), or if such Holder or such beneficial owner is not so licensed, qualified or found suitable, the Company shall have the right, at its option: , (ai) to require such Holder or beneficial owner to dispose of such Holder's or beneficial owner's Securities within 30 days of receipt of such notice of such finding by the applicable Gaming Regulatory Authority (or such earlier date as may be required ordered by the applicable such Gaming Regulatory Authority); or Authority or (bii) to call for the redemption of the Securities of such Holder or beneficial owner (a "Required Redemption") at a redemption price equal to (i) the lesser of the principal amount thereof orthereof, if required by the fair market value of such Gaming Authority, Securities on the date of redemption or the price at which such Holder or beneficial owner acquired the Securities together with, in either case, accrued and unpaid interest and Holder or beneficial owner acquired the Securities, if less than the principal amount thereof, together with, in either case, accrued and unpaid interest to the earlier of the date of redemption or such earlier date as may be required by such Gaming Authority or the date of the finding of unsuitability by such Gaming Regulatory Authority, which may be less than 30 days following the notice of redemption redemption, if so ordered by such Gaming Regulatory Authority or (ii) such other amount as may be determined by such Gaming Regulatory Authority. In connection with any Required Redemption, and except as may be required by a Gaming Regulatory Authority, the The Company shall comply with notify the procedures contained Trustee in writing of any such redemption as soon as practicable and the Indenture redemption price of each Security to be redeemed. The Holder of Securities or beneficial owner applying for redemptions a license, qualification or a finding of suitability must pay all costs of the Securitieslicensure and investigation for such qualification or finding of suitability. The Company is not required to pay or reimburse any Holder of the Securities or beneficial owner of Securities who is required to apply for any such license, qualification or finding of suitability for the costs of the licensure or investigation for such qualification or finding of suitability. Such expenses expense will, therefore, be the obligation of such Holder or beneficial owner.

Regulatory Redemption. Notwithstanding any other provisions of the IndentureIndenture and this Security, if any Gaming Regulatory Authority requires that a Holder or beneficial owner of the Securities must be licensed, qualified or found suitable under any applicable gaming laws in order to maintain any gaming license or franchise related to the Mohegan Sun under any applicable gaming laws, and the Holder or beneficial owner fails to apply for a license, qualification or finding of suitability within 30 days after being requested to do so by such Gaming Regulatory Authority (or such lesser period that may be required by such Gaming Regulatory Authority) or if such Holder or beneficial owner is not so licensed, qualified or found suitable, the Company shall have the right, at its option: (a1) to require such Holder or beneficial owner owners to dispose of such Holder's or beneficial owner's Securities within 30 days of receipt of such finding by the applicable Gaming Regulatory Authority (or such earlier date as may be required by the applicable Gaming Regulatory Authority); or (b2) to call for redemption of the Securities of such Holder or beneficial owner (a "Required Redemption") at a redemption price equal to (ia) the lesser of the principal amount thereof or, if required by such Gaming Authority, or the price at which such Holder or beneficial owner acquired the Securities, if less than the principal amount thereof, together with, in either case, accrued and unpaid interest and Liquidated Damages, if any, to the earlier of the date of redemption or the date of the finding of unsuitability by such Gaming Regulatory Authority, which may be less than 30 days following the notice of redemption if so ordered by such Gaming Regulatory Authority or (iib) such other amount as may be determined by such Gaming Regulatory Authority. In connection with any Required Redemptionsuch redemption, and except as may be required by a Gaming Regulatory Authority, the Company shall comply with the procedures contained in the Indenture for redemptions of the Securities. The Under the Indenture, the Company is not required to pay or reimburse any Holder of the Securities or beneficial owner of Securities who is required to apply for any such license, qualification or finding of suitability for the costs of the licensure or investigation for such qualification or finding of suitability. Such expenses will, therefore, be the obligation of such Holder or beneficial owner.

Regulatory Redemption. Notwithstanding any other provisions of the Indenture, if If any Gaming Regulatory Authority requires that a Holder or beneficial owner of the Securities must be licensed, qualified or found suitable under any applicable gaming laws in order to maintain any gaming license or franchise related to the Mohegan Sun under any applicable gaming laws, law and the such Holder or beneficial owner fails to apply for a license, qualification or a finding of suitability within 30 days after being requested to do so by such the Gaming Regulatory Authority (or such lesser period that may be required by such Gaming Regulatory Authority) ), or if such Holder or such beneficial owner is not so licensed, qualified or found suitable, the Company shall have the right, at its option: , (ai) to require such Holder or beneficial owner to dispose of such Holder's ’s or beneficial owner's ’s Securities within 30 10 days of receipt of such notice of such finding by the applicable Gaming Regulatory Authority (or such earlier other date as may be required ordered by the applicable such Gaming Regulatory Authority); or Authority or (bii) to call for the redemption of the Securities of such Holder or beneficial owner (a "Required Redemption") at a redemption price equal to (i) the lesser of the principal amount thereof orthereof, if required by the Fair Market Value of such Gaming Authority, Securities on the date of redemption or the price at which such Holder or beneficial owner acquired the Securities together with, in either case, accrued and unpaid interest and Holder or beneficial owner acquired the Securities, if less than the principal amount thereof, together with, in either case, accrued and unpaid interest to the earlier of the date of redemption or and the date of the finding of unsuitability by such Gaming Regulatory Authority, which may be less than 30 days following the notice of redemption if so ordered by such Gaming Regulatory Authority or (ii) such other amount as may be determined by such Gaming Regulatory Authority. In connection with any Required Redemption, and except as may be required by a Gaming Regulatory Authority, the The Company shall comply with notify the procedures contained Trustee in writing of any such redemption as soon as practicable and the Indenture redemption price of each Security to be redeemed. The Holder of Securities or beneficial owner applying for redemptions a license, qualification or a finding of suitability must pay all costs of the Securitieslicensure and investigation for such qualification or finding of suitability. The Company is not required to pay or reimburse any Holder of the Securities or beneficial owner of Securities who is required to apply for any such license, qualification or finding of suitability for the costs of the licensure or investigation for such qualification or finding of suitability. Such expenses expense will, therefore, be the obligation of such Holder or beneficial owner.