REVENUE CONTRIBUTION. A. Sections 2.15, 4.3.2.3, 5.0, 5.1, 5.2, and 5.3 are repealed. B. Section 4.3.1 is repealed and replaced by the fo1lowing: (a) The Tribe is entitled to operate no more than seven thousand five hundred (7,500) Gaming Devices, as set forth below, but its right to operate any Gaming Devices shall be conditioned upon its making the payments set forth under subdivision (b) in accordance with the terms set forth in subdivision (c). The number of Gaming Devices that may be operated is: (i) 1,627, which were operated on September 1, 1999; and (ii) 373, operated pursuant to licenses previously issued in accordance with former Section 4.3.2.2 of the 1999 Compact, which licenses shall be maintained during the term of this Amended Compact pursuant to Section 4.3.2.2 herein; and (iii) up to 5,500 additional Gaming Devices. (b) The Tribe agrees that in consideration of the exclusive right to operate Gaming Devices within the geographic region specified in Section 3.2 of this Amended Compact and to operate additional Gaming Devices outside the licensing system established by the 1999 Compact, and other valuable consideration, the Tribe shall pay to the State the following: (i) an annual payment of thirty-six million, seven hundred thousand dollars ($36,700,000.00); and (ii) an annual payment for the operation of the additional Gaming Devices identified in subdivision (a)(iii) of: (1) fifteen percent (15%) of tpe Net Win generated from the operation of up to three thousand (3,000) additional Gaming Devices over the existing two thousand (2,000) Gaming Devices specified in subdivisions (a)(i) and (a)(ii); plus (2) twenty-five percent (25%) ofthe Net Win generated from the operation ofup to an additional two thousand five hundred (2,500) Gaming Devices. The payments specified in this subdivision (b) have been negotiated between the parties as a fair contribution to be made annually in quarterly payments based upon the Tribe's market conditions, its circumstances, and the rights afforded by this Amendment. (c) The Tribe shall remit the annual payments referenced in subdivision (b) to such agency, trust, fund or entity, as the State Director of Finance, pursuant to law, from time to time, shall specify to the Tribe in writing, in quarterly payments. The quarterly payments shall be due on the thirtieth (30th) day xxxxxx.xxx the end of e_ach calendar quarter (i.e., by April 30 for the first quarter, July 30 for the second quarter, October 30 for the third quarter, and January 30 for the fourth quarter). The payments in subdivision (b)(ii) shall be determined in accordance with subdivision (d) below and shall be based on the Net Win generated from the Gaming Devices operated during the immediately preceding quarter. If the Gaming Activities authorized by this Amended Compact commence during a calendar quarter, the first payment shall be due on the thirtieth (30th) day following the end of the first full quarter of the Gaming Operation and shall cover the period from the commencement of the Gaming Activities to the end of the first full calendar quarter. The quarterly payments shall be accompanied by the certification specified in subdivision {h). (i) For purposes of subdivision (b)(ii), the Net Win generated from the operation of all additional Gaming Devices over the existing 2,000 Gaming Devices shal1 be calculated by multiplying the average Net Win per Gaming Device for the quarter by the average number of Gaming Devices operated during that quarter in excess of 2,000. (ii) The average Net Win per Gaming Device is the total Net Win for the quarter divided by the average number of Gaming Devices present on the floors of the Tribe's Gaming Facilities during that quarter. (iii) In tum, the average number of Gaming Devices for the quarter shall be determined by aggregating each day's total number of Gaming Devices present on the floors of the Tribe's Gaming Facilities for each day that the Gaming Facilities are open to the public during that quarter and dividing that total by the number of days in the quarter that the Gaming Facilities are open. (e) If any portion of the fee payments under subdivision (b) herein is overdue after the State Gaming Agency has provided written notice to the Tribe of the overdue amount with an opportunity to cure of at least fifteen (15) business days, and if more than sixty (60) calendar
Appears in 2 contracts
Samples: Tribal State Compact Amendment, Tribal State Compact
REVENUE CONTRIBUTION. A. Sections 2.15, 4.3.2.3, 5.0, 5.1, 5.2, 2.15 and 5.3 5.2 are repealed.
B. Section 4.3.1 is repealed and replaced by the fo1lowingfollowing:
(a) The Tribe is entitled to operate no more than seven thousand five hundred (7,500) the following total number of Gaming Devices, as set forth below, but its right to operate any Gaming Devices shall be conditioned upon its making the payments set forth under subdivision (b) in accordance with the terms set forth in subdivision (c). The number of Gaming Devices that may be operated is:c):
(i) 1,627, which were operated on September 1, 1999350; andplus
(ii) 3731,650, operated pursuant to licenses previously issued in accordance with former Section 4.3.2.2 4.3 .2.2 of the 1999 Compact, which licenses shall be maintained during the term of this Amended Compact pursuant to Section 4.3.2.2 herein; andplus
(iii) up to 5,500 additional Additional Gaming Devices, based on the Tribe's business judgmeat and competition. However, there shall be a total of no more than 2,000 Gaming Devices in the Tribe's Palm Springs Gaming Facility, a total of no more than 2,000 Gaming Devices in the Tribe's Rancho Mirage Gaming Facility, and a total of no more than 1,000 Gaming Devices in any new third Gaming Facility.
(b) The Tribe agrees that in consideration of the exclusive right to operate Gaming Devices within the geographic region specified in Section 3.2 of this Amended Compact and to operate additional Gaming Devices outside the licensing system established by the 1999 Compact, and other valuable consideration, the Tribe shall pay to the State the following:following:
(i) an annual payment of thirtytwenty-six three million, seven four hundred thousand dollars ($36,700,000.0023,400,000.00), which represents nine percent (9%) of the Tribe's annual Net Win for calendar year 2005 and is in excess of ten percent (10%) of the Tribe's annual Net Win for calendar year 2004; and
(ii) an annual payment for the operation of the additional Gaming Devices identified in subdivision (a)(iii) of: (1) fifteen percent (15%) of tpe the Net Win generated from the operation of up to three thousand (3,000) all additional Gaming Devices over the existing two thousand (2,000) 2,000 Gaming Devices specified in subdivisions (a)(i) and (a)(ii); plus (2) twenty-five percent (25%) ofthe Net Win generated from the operation ofup to an additional two thousand five hundred (2,500) Gaming Devices. a)(ii). The payments specified in this subdivision (b) have been negotiated between the parties as a fair reasonable contribution to be made annually in quarterly payments based upon the Tribe's market conditions, its circumstances, and the rights afforded by this Amendment.
(c) The Tribe shall remit the annual payments referenced in subdivision (b) to such agency, trust, fund or entity, as the State Director of Finance, pursuant to law, from time to time, shall specify to the Tribe in writing, in quarterly payments. The quarterly payments shall be due on the thirtieth (30th301h) day xxxxxx.xxx following the end of e_ach each calendar quarter (i.e., by April 30 for the first quarter, July 30 for the second quarter, October 30 for the third quarter, and January 30 for the fourth quarter). The payments in subdivision (b)(ii) shall be determined in accordance with subdivision (d) below and shall be based on the Net Win generated from the Gaming Devices operated during the immediately preceding quarter. If the Gaming Activities authorized by this Amended Compact commence during a calendar quarter, the first payment shall be due on the thirtieth (30th301h) day following the end of the first full quarter of the Gaming Operation and shall cover the period from the commencement of the Gaming Activities to the end of the first full calendar quarter. The quarterly payments shall be accompanied by the certification specified in subdivision {h).(h).
(d) (i) For purposes of subdivision (b)(ii), the Net Win generated from the operation of all additional Gaming Devices over the existing 2,000 Gaming Devices shal1 shall be calculated by multiplying the average Net Win per Gaming Device for the quarter by the average number of Gaming Gaining Devices operated during that quarter in excess of 2,000.
(ii) The average Net Win per Gaming Device is the total Net Win for the quarter divided by the average number of Gaming Devices present on the floors of the Tribe's Gaming Facilities during that quarter.
(iii) In tum, the average number of Gaming Devices for the quarter shall be determined by aggregating each day's total number of Gaming Devices present on the floors of the Tribe's Gaming Facilities for each day that the Gaming Facilities are open to the public during that quarter and dividing that total by the number of days in the quarter that the Gaming Facilities are open.
(e) If any portion of the fee payments under subdivision (b) herein is overdue after the State Gaming Agency has provided written notice to the Tribe of the overdue amount with an opportunity to cure of at least fifteen (15) business days, and if more than sixty (60) calendar2,000.
Appears in 1 contract
Samples: Tribal State Gaming Compact
REVENUE CONTRIBUTION. A. Sections 2.15, 4.3.2.3, 5.0, 5.1, 5.2, and 5.3 are repealed.
B. Section 4.3.1 is repealed and replaced by the fo1lowingfollowing:
(a) The Tribe is entitled to operate no more than seven thousand five hundred (7,500) Gaming Devices, as set forth below, but its right to operate any Gaming Devices shall be conditioned upon its making the payments set forth under subdivision (b) in accordance with the terms set forth in subdivision (c). The number of Gaming Devices that may be operated is:is:
(i) 1,627974, which were operated on September 1, 1999; and
(ii) 3731,026, operated pursuant to licenses previously issued in accordance with former Section 4.3.2.2 of the 1999 Compact, which licenses shall be maintained during the term of this Amended Compact pursuant to Section 4.3.2.2 herein; and
(iii) up to 5,500 additional Gaming Devices.
(b) The Tribe agrees that in consideration of the exclusive right to operate Gaming Devices within the geographic region specified in Section 3.2 of this Amended Compact and to operate additional Gaming Devices outside the licensing system established by the 1999 Compact, and other valuable consideration, the Tribe shall pay to the State the following:following:
(i) an annual payment of thirty-six million, seven hundred thousand forty five million dollars ($36,700,000.0045,000,000); and
(ii) an annual payment for the operation of the additional Gaming Devices identified in subdivision (a)(iii) of: (1) fifteen percent (15%) of tpe the Net Win generated from the operation of up to three thousand (3,000) additional Gaming Devices over the existing two thousand (2,000) Gaming Devices specified in subdivisions (a)(i) and (a)(ii); plus (2) twenty-five percent (25%) ofthe percent of the Net Win generated from the operation ofup of up to an additional two thousand five hundred (2,500) Gaming Devices. Devices. The payments specified in this subdivision (b) have been negotiated between the parties as a fair reasonable contribution to be made annually in quarterly payments based upon the Tribe's market conditions, its circumstances, and the rights afforded by this Amendment.
(c) The Tribe shall remit the annual payments referenced in subdivision (b) to such agency, trust, fund or entity, as the State Director of Finance, pursuant to law, from time to time, shall specify to the Tribe in writing, in quarterly payments. The quarterly payments shall be due on the thirtieth (30th) day xxxxxx.xxx following the end of e_ach each calendar quarter (i.e., by April 30 for the first quarter, July 30 for the second quarter, October October 30 for the third quarter, and January 30 for the fourth quarter). The payments in subdivision (b)(ii) shall be determined in accordance with subdivision (d) below and shall be based on the Net Win generated from the Gaming Devices operated during the immediately preceding quarter. If the Gaming Activities authorized by this Amended Compact commence during a calendar quarter, the first payment shall be due on the thirtieth (30th) day following the end of the first full quarter of the Gaming Operation and shall cover the period from the commencement of the Gaming Activities to the end of the first full calendar quarter. The quarterly payments shall be accompanied by the certification specified in subdivision {h).(g).
(d) (i) For purposes of subdivision (b)(ii), the Net Win generated from the operation of all additional Gaming Devices over the existing 2,000 Gaming Devices shal1 shall be calculated by multiplying the average Net Win per Gaming Device for the quarter by the average number of Gaming Devices operated during that quarter in excess of 2,000.
(ii) The average Net Win per Gaming Device is the total Net Win for the quarter divided by the average number of Gaming Devices present on the floors of the Tribe's Gaming Facilities during that quarter.
(iii) In tum, the average number of Gaming Devices for the quarter shall be determined by aggregating each day's total number of Gaming Devices present on the floors of the Tribe's Gaming Facilities for each day that the Gaming Facilities are open to the public during that quarter and dividing that total by the number of days in the quarter that the Gaming Facilities are open.
(e) If any portion of the fee payments under subdivision (b) herein is overdue after the State Gaming Agency has provided written notice to the Tribe of the overdue amount with an opportunity to cure of at least fifteen (15) business days, and if more than sixty (60) calendar
Appears in 1 contract
Samples: Tribal State Compact
REVENUE CONTRIBUTION. A. Sections 2.15, 4.3.2.3, 5.0, 5.1, 5.2, 2.15 and 5.3 5.2 are repealed.
B. Section 4.3.1 is repealed and replaced by the fo1lowingfollowing:
(a) The Tribe is entitled to operate no more than seven thousand five hundred (7,500) the following total number of Gaming Devices, as set forth below, but its right to operate any Gaming Devices shall be conditioned upon its making the payments set forth under subdivision (b) in accordance with the terms set forth in subdivision (c). The number of Gaming Devices that may be operated is:):
(i) 1,627, which were operated on September 1, 19991,153; andplus
(ii) 373847, operated pursuant to licenses previously issued in accordance with former Section 4.3.2.2 of the 1999 Compact, which licenses shall be maintained during the term of this Amended Compact pursuant to Section 4.3.2.2 herein; andplus
(iii) up to 5,500 additional Additional Gaming Devices, based on the Tribe’s business judgment and competition. However, there shall be a total of no more than 2,000 Gaming Devices in the Tribe’s Palm Springs Gaming Facility, a total of no more than 2,000 Gaming Devices in the Tribe’s Rancho Mirage Gaming Facility, and a total of no more than 1,000 Gaming Devices in any new third Gaming Facility.
(b) The Tribe agrees that in consideration of the exclusive right to operate Gaming Devices within the geographic region specified in Section 3.2 of this Amended Compact and to operate additional Gaming Devices outside the licensing system established by the 1999 Compact, and other valuable consideration, the Tribe shall pay to the State the following:following:
(i) an annual payment of thirtytwenty-six three million, seven four hundred thousand dollars ($36,700,000.0023,400,000.00), which represents nine percent (9%) of the Tribe’s annual Net Win for calendar year 2005 and is in excess of ten percent (10%) of the Tribe’s annual Net Win for calendar year 2004; andand
(ii) an annual payment for the operation of the additional Gaming Devices identified in subdivision (a)(iii) of: (1) fifteen percent (15%) of tpe the Net Win generated from the operation of up to three thousand (3,000) all additional Gaming Devices over the existing two thousand (2,000) 2,000 Gaming Devices specified in subdivisions (a)(i) and (a)(ii); plus (2) twenty-five percent (25%) ofthe Net Win generated from the operation ofup to an additional two thousand five hundred (2,500) Gaming Devices. . The payments specified in this subdivision (b) have been negotiated between the parties as a fair reasonable contribution to be made annually in quarterly payments based upon the Tribe's ’s market conditions, its circumstances, and the rights afforded by this Amendment.
(c) The Tribe shall remit the annual payments referenced in subdivision (b) to such agency, trust, fund or entity, as the State Director of Finance, pursuant to law, from time to time, shall specify to the Tribe in writing, in quarterly payments. The quarterly payments shall be due on the thirtieth (30th) day xxxxxx.xxx following the end of e_ach each calendar quarter (i.e., by April 30 for the first quarter, July 30 for the second quarter, October 30 for the third quarter, and January 30 for the fourth quarter). The payments in subdivision (b)(ii) shall be determined in accordance with subdivision (d) below and shall be based on the Net Win generated from the Gaming Devices operated during the immediately preceding quarter. If the Gaming Activities authorized by this Amended Compact commence during a calendar quarter, the first payment shall be due on the thirtieth (30th) day following the end of the first full quarter of the Gaming Operation and shall cover the period from the commencement of the Gaming Activities to the end of the first full calendar quarter. The quarterly payments shall be accompanied by the certification specified in subdivision {h).(h).
(d) (i) For purposes of subdivision (b)(ii), the Net Win generated from the operation of all additional Gaming Devices over the existing 2,000 Gaming Devices shal1 shall be calculated by multiplying the average Net Win per Gaming Device for the quarter by the average number of Gaming Devices operated during that quarter in excess of 2,000.
(ii) The average Net Win per Gaming Device is the total Net Win for the quarter divided by the average number of Gaming Devices present on the floors of the Tribe's Gaming Facilities during that quarter.
(iii) In tum, the average number of Gaming Devices for the quarter shall be determined by aggregating each day's total number of Gaming Devices present on the floors of the Tribe's Gaming Facilities for each day that the Gaming Facilities are open to the public during that quarter and dividing that total by the number of days in the quarter that the Gaming Facilities are open.
(e) If any portion of the fee payments under subdivision (b) herein is overdue after the State Gaming Agency has provided written notice to the Tribe of the overdue amount with an opportunity to cure of at least fifteen (15) business days, and if more than sixty (60) calendar2,000.
Appears in 1 contract
Samples: Tribal State Gaming Compact
REVENUE CONTRIBUTION. A. Sections 2.15, 4.3.2.3, 5.0, 5.1, 5.2, and 5.3 are repealed.
B. Section 4.3.1 is repealed and replaced by the fo1lowingfollowing:
(a) The Tribe is entitled to operate no more than seven thousand five hundred (7,500) Gaming Devices, as set forth below, but its right to operate any Gaming Devices shall be conditioned upon its making the payments set forth under subdivision (b) in accordance with the terms set forth in subdivision (c). The number of Gaming Devices that may be operated is:is:
(i) 1,627974, which were operated on September 1, 1999; andand
(ii) 3731,096, operated pursuant to licenses previously issued in accordance with former Section 4.3.2.2 of the 1999 Compact, which licenses shall be maintained during the term of this Amended Compact pursuant to Section 4.3.2.2 herein; andand
(iii) up to 5,500 additional Gaming Devices.
(b) The Tribe agrees that in consideration of the exclusive right to operate Gaming Devices within the geographic region specified in Section 3.2 of this Amended Compact and to operate additional Gaming Devices outside the licensing system established by the 1999 Compact, and other valuable consideration, the Tribe shall pay to the State the following:following:
(i) an annual payment of thirty-six million, seven hundred thousand forty five million dollars ($36,700,000.0045,000,000); andand
(ii) an annual payment for the operation of the additional Gaming Devices identified in subdivision (a)(iii) of: (1) fifteen percent (15%) of tpe the Net Win generated from the operation of up to three thousand (3,000) additional Gaming Devices over the existing two thousand (2,000) Gaming Devices specified in subdivisions (a)(i) and (a)(ii); plus (2) twenty-five percent (25%) ofthe percent of the Net Win generated from the operation ofup of up to an additional two thousand five hundred (2,500) Gaming Devices. Devices. The payments specified in this subdivision (b) have been negotiated between the parties as a fair reasonable contribution to be made annually in quarterly payments based upon the Tribe's ’s market conditions, its circumstances, and the rights afforded by this Amendment.
(c) The Tribe shall remit the annual payments referenced in subdivision (b) to such agency, trust, fund or entity, as the State Director of Finance, pursuant to law, from time to time, shall specify to the Tribe in writing, in quarterly payments. The quarterly payments shall be due on the thirtieth (30th) day xxxxxx.xxx following the end of e_ach each calendar quarter (i.e., by April 30 for the first quarter, July 30 for the second quarter, October 30 for the third quarter, and January 30 for the fourth quarter). The payments in subdivision (b)(ii) shall be determined in accordance with subdivision (d) below and shall be based on the Net Win generated from the Gaming Devices operated during the immediately preceding quarter. If the Gaming Activities authorized by this Amended Compact commence during a calendar quarter, the first payment shall be due on the thirtieth (30th) day following the end of the first full quarter of the Gaming Operation and shall cover the period from the commencement of the Gaming Activities to the end of the first full calendar quarter. The quarterly payments shall be accompanied by the certification specified in subdivision {h).(g).
(d) (i) For purposes of subdivision (b)(ii), the Net Win generated from the operation of all additional Gaming Devices over the existing 2,000 Gaming Devices shal1 shall be calculated by multiplying the average Net Win per Gaming Device for the quarter by the average number of Gaming Devices operated during that quarter in excess of 2,000.
(ii) The average Net Win per Gaming Device is the total Net Win for the quarter divided by the average number of Gaming Devices present on the floors of the Tribe's Gaming Facilities during that quarter.
(iii) In tum, the average number of Gaming Devices for the quarter shall be determined by aggregating each day's total number of Gaming Devices present on the floors of the Tribe's Gaming Facilities for each day that the Gaming Facilities are open to the public during that quarter and dividing that total by the number of days in the quarter that the Gaming Facilities are open.
(e) If any portion of the fee payments under subdivision (b) herein is overdue after the State Gaming Agency has provided written notice to the Tribe of the overdue amount with an opportunity to cure of at least fifteen (15) business days, and if more than sixty (60) calendar2,000.
Appears in 1 contract
Samples: Tribal State Compact
REVENUE CONTRIBUTION. A. Sections 2.15, 4.3.2.3, 5.0, 5.1, 5.2, and 5.3 are repealed.
B. Section 4.3.1 is repealed and replaced by the fo1lowingfollowing:
(a) The Tribe is entitled to operate no more than seven thousand five hundred (7,500) Gaming Devices, as set forth below, but its right to operate any Gaming Devices shall be conditioned upon its making the payments set forth under subdivision (b) in accordance with the terms set forth in subdivision (c). The number of Gaming Devices that may be operated is:is:
(i) 1,6271,333, which were operated on September 1, 1999; andand
(ii) 373667, operated pursuant to licenses previously issued in accordance with former Section 4.3.2.2 of the 1999 Compact, which licenses shall be maintained during the term of this Amended Compact pursuant to Section 4.3.2.2 herein; andand
(iii) up to 5,500 additional Gaming Devices.
(b) The Tribe agrees that in consideration of the exclusive right to operate Gaming Devices within the geographic region specified in Section 3.2 of this Amended Compact and to operate additional Gaming Devices outside the licensing system established by the 1999 Compact, and other valuable consideration, the Tribe shall pay to the State the following:following:
(i) an annual payment of thirtyforty-six two million, seven five hundred thousand dollars ($36,700,000.0042,500,000.00); andand
(ii) an annual payment for the operation of the additional Gaming Devices identified in subdivision (a)(iii) of: (1) fifteen percent (15%) of tpe the Net Win generated from the operation of up to three thousand (3,000) additional Gaming Devices over the existing two thousand (2,000) Gaming Devices specified in subdivisions (a)(i) and (a)(ii); plus (2) twenty-five percent (25%) ofthe of the Net Win generated from the operation ofup of up to an additional two thousand five hundred (2,500) Gaming Devices. Devices. The payments specified in this subdivision (b) have been negotiated between the parties as a fair reasonable contribution to be made annually in quarterly payments based upon the Tribe's ’s market conditions, its circumstances, and the rights afforded by this Amendment.
(c) The Tribe shall remit the annual payments referenced in subdivision (b) to such agency, trust, fund or entity, as the State Director of Finance, pursuant to law, from time to time, shall specify to the Tribe in writing, in quarterly payments. The quarterly payments shall be due on the thirtieth (30th) day xxxxxx.xxx following the end of e_ach each calendar quarter (i.e., by April 30 for the first quarter, July 30 for the second quarter, October 30 for the third quarter, and January 30 for the fourth quarter). The payments in subdivision (b)(ii) shall be determined in accordance with subdivision (d) below and shall be based on the Net Win generated from the Gaming Devices operated during the immediately preceding quarter. If the Gaming Activities authorized by this Amended Compact commence during a calendar quarter, the first payment shall be due on the thirtieth (30th) day following the end of the first full quarter of the Gaming Operation and shall cover the period from the commencement of the Gaming Activities to the end of the first full calendar quarter. The quarterly payments shall be accompanied by the certification specified in subdivision {h).(g).
(d) (i) For purposes of subdivision (b)(ii), the Net Win generated from the operation of all additional Gaming Devices over the existing 2,000 Gaming Devices shal1 shall be calculated by multiplying the average Net Win per Gaming Device for the quarter by the average number of Gaming Devices operated during that quarter in excess of 2,000.
(ii) The average Net Win per Gaming Device is the total Net Win for the quarter divided by the average number of Gaming Devices present on the floors of the Tribe's Gaming Facilities during that quarter.
(iii) In tum, the average number of Gaming Devices for the quarter shall be determined by aggregating each day's total number of Gaming Devices present on the floors of the Tribe's Gaming Facilities for each day that the Gaming Facilities are open to the public during that quarter and dividing that total by the number of days in the quarter that the Gaming Facilities are open.
(e) If any portion of the fee payments under subdivision (b) herein is overdue after the State Gaming Agency has provided written notice to the Tribe of the overdue amount with an opportunity to cure of at least fifteen (15) business days, and if more than sixty (60) calendar2,000.
Appears in 1 contract
Samples: Tribal State Compact
REVENUE CONTRIBUTION. A. Sections 2.15, 4.3.2.3, 5.0, 5.1, 5.2, 2.15 and 5.3 5.2 are repealed.
B. Section 4.3.1 is repealed and replaced by the fo1lowingfollowing:
(a) The Tribe is entitled to operate no more than seven thousand five hundred (7,500) the following total nurriber of Gaming Devices, as set forth below, but its right to operate any Gaming Devices shall be conditioned upon its making the payments set forth under subdivision (b) in accordance with the terms set forth in subdivision (c). The number of Gaming Devices that may be operated is:c):
(i) 1,627, which were operated on September 1, 1999350; andplus
(ii) 3731,650, operated pursuant to licenses previously issued in accordance with former Section 4.3.2.2 4.3 .2.2 of the 1999 Compact, which licenses shall be maintained during the term of this Amended Compact pursuant to Section 4.3.2.2 herein; andplus
(iii) up to 5,500 additional Additional Gaming Devices, based on the Tribe's business judgmeat and competition. However, there shall be a total of no more than 2,000 Gaming Devices in the Tribe's Palm Springs Gaming Facility, a total of no more than 2,000 Gaming Devices in the Tribe's Rancho Mirage Gaming Facility, and a total of no more than 1,000 Gaming Devices in any new third Gaming Facility.
(b) The Tribe agrees that in consideration of the exclusive right to operate Gaming Devices within the geographic region specified in Section 3.2 of this Amended Compact and to operate additional Gaming Devices outside the licensing system established by the 1999 Compact, and other valuable consideration, the Tribe shall pay to the State the following:following:
(i) an annual payment of thirtytwenty-six three million, seven four hundred thousand dollars ($36,700,000.0023,400,000.00), which represents nine percent (9%) of the Tribe's annual Net Win for calendar year 2005 and is in excess of ten percent (10%) of the Tribe's annual Net Win for calendar year 2004; and
(ii) an annual payment for the operation of the additional Gaming Devices identified in subdivision (a)(iii) of: (1) fifteen percent (15%) of tpe the Net Win generated from the operation of up to three thousand (3,000) all additional Gaming Devices over the existing two thousand (2,000) 2,000 Gaming Devices specified in subdivisions (a)(i) and (a)(ii); plus (2) twenty-five percent (25%) ofthe Net Win generated from the operation ofup to an additional two thousand five hundred (2,500) Gaming Devices. a)(ii). The payments specified in this subdivision (b) have been negotiated between the parties as a fair reasonable contribution to be made annually in quarterly payments based upon the Tribe's market conditions, its circumstances, and the rights afforded by this Amendment.
(c) The Tribe shall remit the annual am11ial payments referenced in subdivision (b) to such agency, trust, fund or entity, as the State Director of Finance, pursuant to law, from time to time, shall specify to the Tribe in writing, in quarterly payments. The quarterly payments shall be due on the thirtieth (30th301h) day xxxxxx.xxx following the end of e_ach each calendar quarter (i.e., by April 30 for the first quarter, July 30 for the second quarter, October 30 for the third quarter, and January 30 for the fourth quarter). The payments in subdivision (b)(ii) shall be determined in accordance with subdivision (d) below and shall be based on the Net Win generated from the Gaming Devices operated during the immediately preceding quarter. If the Gaming Activities authorized by this Amended Compact commence during a calendar quarter, the first payment shall be due on the thirtieth (30th301h) day following the end of the first full quarter of the Gaming Operation and shall cover the period from the commencement of the Gaming Activities to the end of the first full calendar quarter. The quarterly payments shall be accompanied by the certification specified in subdivision {h).(h).
(d) (i) For purposes of subdivision (b)(ii), the Net Win generated from the operation of all additional Gaming Devices over the existing 2,000 Gaming Devices shal1 shall be calculated by multiplying the average Net Win per Gaming Device for the quarter by the average number of Gaming Gaining Devices operated during that quarter in excess of 2,000.
(ii) The average Net Win per Gaming Device is the total Net Win for the quarter divided by the average number of Gaming Devices present on the floors of the Tribe's Gaming Facilities during that quarter.
(iii) In tum, the average number of Gaming Devices for the quarter shall be determined by aggregating each day's total number of Gaming Devices present on the floors of the Tribe's Gaming Facilities for each day that the Gaming Facilities are open to the public during that quarter and dividing that total by the number of days in the quarter that the Gaming Facilities are open.
(e) If any portion of the fee payments under subdivision (b) herein is overdue after the State Gaming Agency has provided written notice to the Tribe of the overdue amount with an opportunity to cure of at least fifteen (15) business days, and if more than sixty (60) calendar2,000.
Appears in 1 contract
Samples: Tribal State Gaming Compact
REVENUE CONTRIBUTION. A. Sections 2.15, 4.3.2.3, 5.0, 5.1, 5.2, and 5.3 are repealed.
B. Section 4.3.1 is repealed and replaced by the fo1lowingfollowing:
(a) The Tribe is entitled to operate no more than seven thousand five hundred (7,500) Gaming Devices, as set forth below, but its right to operate any Gaming Devices shall be conditioned upon its making the payments set forth under subdivision (b) in accordance with the terms set forth in subdivision (c). The number of Gaming Devices that may be operated is:
(i) 1,6271,333, which were operated on September 1, 1999; and
(ii) 373667, operated pursuant to licenses previously issued in accordance with former Section 4.3.2.2 of the 1999 Compact, which licenses shall be maintained during the term of this Amended Compact pursuant to Section 4.3.2.2 herein; and
(iii) up to 5,500 additional Gaming Devices.
(b) The Tribe agrees that in consideration of the exclusive right to operate Gaming Devices within the geographic region specified in Section 3.2 of this Amended Compact and to operate additional Gaming Devices outside the licensing system established by the 1999 Compact, and other valuable consideration, the Tribe shall pay to the State the following:
(i) an annual payment of thirtyforty-six two million, seven five hundred thousand dollars ($36,700,000.0042,500,000.00); and
(ii) an annual payment for the operation of the additional Gaming Devices identified in subdivision (a)(iii) of: (1) fifteen percent (15%) of tpe the Net Win generated from the operation of up to three thousand (3,000) additional Gaming Devices over the existing two thousand (2,000) Gaming Devices specified in subdivisions (a)(i) and (a)(ii); plus (2) twenty-five percent (25%) ofthe of the Net Win generated from the operation ofup of up to an additional two thousand five hundred (2,500) Gaming Devices. Devices. The payments specified in this subdivision (b) have been negotiated between the parties as a fair reasonable contribution to be made annually in quarterly payments based upon the Tribe's market conditions, its circumstances, and the rights afforded by this Amendment.
(c) The Tribe shall remit the annual payments referenced in subdivision (b) to such agency, trust, fund or entity, as the State Director of Finance, pursuant to law, from time to time, shall specify to the Tribe in writing, in quarterly payments. The quarterly quarterly th th payments shall be due on the thirtieth (30th30 ) day xxxxxx.xxx following the end of e_ach each calendar quarter (i.e., by April 30 for the first quarter, July 30 for the second quarter, October 30 for the third quarter, and January 30 for the fourth quarter). The payments in subdivision (b)(ii) shall be determined in accordance with subdivision (d) below and shall be based on the Net Win generated from the Gaming Devices operated during the immediately preceding quarter. If the Gaming Activities authorized by this Amended Compact commence during a calendar quarter, the first payment shall be due on the thirtieth (30th30 ) day following the end of the first full quarter of the Gaming Operation and shall cover the period from the commencement of the Gaming Activities to the end of the first full calendar quarter. The quarterly payments shall be accompanied by the certification specified in subdivision {h).(g).
(d) (i) For purposes of subdivision (b)(ii), the Net Win generated from the operation of all additional Gaming Devices over the existing 2,000 Gaming Devices shal1 shall be calculated by multiplying the average Net Win per Gaming Device for the quarter by the average number of Gaming Devices operated during that quarter in excess of 2,000.
(ii) The average Net Win per Gaming Device is the total Net Win for the quarter divided by the average number of Gaming Devices present on the floors of the Tribe's Gaming Facilities during that quarter.
(iii) In tum, the average number of Gaming Devices for the quarter shall be determined by aggregating each day's total number of Gaming Devices present on the floors of the Tribe's Gaming Facilities for each day that the Gaming Facilities are open to the public during that quarter and dividing that total by the number of days in the quarter that the Gaming Facilities are open.
(e) If any portion of the fee payments under subdivision (b) herein is overdue after the State Gaming Agency has provided written notice to the Tribe of the overdue amount with an opportunity to cure of at least fifteen (15) business days, and if more than sixty (60) calendar
Appears in 1 contract
Samples: Tribal State Compact
REVENUE CONTRIBUTION. A. Sections 2.15, 4.3.2.3, 5.0, 5.1, 5.2, and 5.3 are repealed.
B. Section 4.3.1 is repealed and replaced by the fo1lowingfollowing:
(a) The Tribe is entitled to operate no more than seven thousand five hundred (7,500) Gaming Devices, as set forth below, but its right to operate any Gaming Devices shall be conditioned upon its making the payments set forth under subdivision (b) in accordance with the terms set forth in subdivision (c). The number of Gaming Devices that may be operated is:is:
(i) 1,627974, which were operated on September 1, 1999; andand
(ii) 3731,026, operated pursuant to licenses previously issued in accordance with former Section 4.3.2.2 of the 1999 Compact, which licenses shall be maintained during the term of this Amended Compact pursuant to Section 4.3.2.2 herein; andand
(iii) up to 5,500 additional Gaming Devices.
(b) The Tribe agrees that in consideration of the exclusive right to operate Gaming Devices within the geographic region specified in Section 3.2 of this Amended Compact and to operate additional Gaming Devices outside the licensing system established by the 1999 Compact, and other valuable consideration, the Tribe shall pay to the State the following:following:
(i) an annual payment of thirty-six million, seven hundred thousand forty five million dollars ($36,700,000.0045,000,000); andand
(ii) an annual payment for the operation of the additional Gaming Devices identified in subdivision (a)(iii) of: (1) fifteen percent (15%) of tpe the Net Win generated from the operation of up to three thousand (3,000) additional Gaming Devices over the existing two thousand (2,000) Gaming Devices specified in subdivisions (a)(i) and (a)(ii); plus (2) twenty-five percent (25%) ofthe percent of the Net Win generated from the operation ofup of up to an additional two thousand five hundred (2,500) Gaming Devices. Devices. The payments specified in this subdivision (b) have been negotiated between the parties as a fair reasonable contribution to be made annually in quarterly payments based upon the Tribe's ’s market conditions, its circumstances, and the rights afforded by this Amendment.
(c) The Tribe shall remit the annual payments referenced in subdivision (b) to such agency, trust, fund or entity, as the State Director of Finance, pursuant to law, from time to time, shall specify to the Tribe in writing, in quarterly payments. The quarterly payments shall be due on the thirtieth (30th) day xxxxxx.xxx following the end of e_ach each calendar quarter (i.e., by April 30 for the first quarter, July 30 for the second quarter, October 30 for the third quarter, and January 30 for the fourth quarter). The payments in subdivision (b)(ii) shall be determined in accordance with subdivision (d) below and shall be based on the Net Win generated from the Gaming Devices operated during the immediately preceding quarter. If the Gaming Activities authorized by this Amended Compact commence during a calendar quarter, the first payment shall be due on the thirtieth (30th) day following the end of the first full quarter of the Gaming Operation and shall cover the period from the commencement of the Gaming Activities to the end of the first full calendar quarter. The quarterly payments shall be accompanied by the certification specified in subdivision {h).(g).
(d) (i) For purposes of subdivision (b)(ii), the Net Win generated from the operation of all additional Gaming Devices over the existing 2,000 Gaming Devices shal1 shall be calculated by multiplying the average Net Win per Gaming Device for the quarter by the average number of Gaming Devices operated during that quarter in excess of 2,000.
(ii) The average Net Win per Gaming Device is the total Net Win for the quarter divided by the average number of Gaming Devices present on the floors of the Tribe's Gaming Facilities during that quarter.
(iii) In tum, the average number of Gaming Devices for the quarter shall be determined by aggregating each day's total number of Gaming Devices present on the floors of the Tribe's Gaming Facilities for each day that the Gaming Facilities are open to the public during that quarter and dividing that total by the number of days in the quarter that the Gaming Facilities are open.
(e) If any portion of the fee payments under subdivision (b) herein is overdue after the State Gaming Agency has provided written notice to the Tribe of the overdue amount with an opportunity to cure of at least fifteen (15) business days, and if more than sixty (60) calendar2,000.
Appears in 1 contract
Samples: Tribal State Compact
REVENUE CONTRIBUTION. A. Sections 2.15, 4.3.2.3, 5.0, 5.1, 5.2, and 5.3 are repealed.
B. Section 4.3.1 is repealed and replaced by the fo1lowingfollowing:
(a) The Tribe is entitled to operate no more than seven thousand five hundred (7,500) Gaming Devices, as set forth below, but its right to operate any Gaming Devices shall be conditioned upon its making the payments set forth under subdivision (b) in accordance with the terms set forth in subdivision (c). The number of Gaming Devices that may be operated is:is:
(i) 1,627, which were operated on September 1, 1999; andand
(ii) 373, operated pursuant to licenses previously issued in accordance with former Section 4.3.2.2 of the 1999 Compact, which licenses shall be maintained during the term of this Amended Compact pursuant to Section 4.3.2.2 herein; andand
(iii) up to 5,500 additional Gaming Devices.
(b) The Tribe agrees that in consideration of the exclusive right to operate Gaming Devices within the geographic region specified in Section 3.2 of this Amended Compact and to operate additional Gaming Devices outside the licensing system established by the 1999 Compact, and other valuable consideration, the Tribe shall pay to the State the following:following:
(i) an annual payment of thirty-six million, seven hundred thousand dollars ($36,700,000.00); andand
(ii) an annual payment for the operation of the additional Gaming Devices identified in subdivision (a)(iii) of: (1) fifteen percent (15%) of tpe the Net Win generated from the operation of up to three thousand (3,000) additional Gaming Devices over the existing two thousand (2,000) Gaming Devices specified in subdivisions (a)(i) and (a)(ii); plus (2) twenty-five percent (25%) ofthe of the Net Win generated from the operation ofup of up to an additional two thousand five hundred (2,500) Gaming Devices. Devices. The payments specified in this subdivision (b) have been negotiated between the parties as a fair contribution to be made annually in quarterly payments based upon the Tribe's ’s market conditions, its circumstances, and the rights afforded by this Amendment.
(c) The Tribe shall remit the annual payments referenced in subdivision (b) to such agency, trust, fund or entity, as the State Director of Finance, pursuant to law, from time to time, shall specify to the Tribe in writing, in quarterly payments. The quarterly payments shall be due on the thirtieth (30th) day xxxxxx.xxx following the end of e_ach each calendar quarter (i.e., by April 30 for the first quarter, July 30 for the second quarter, October 30 for the third quarter, and January 30 for the fourth quarter). The payments in subdivision (b)(ii) shall be determined in accordance with subdivision (d) below and shall be based on the Net Win generated from the Gaming Devices operated during the immediately preceding quarter. If the Gaming Activities authorized by this Amended Compact commence during a calendar quarter, the first payment shall be due on the thirtieth (30th) day following the end of the first full quarter of the Gaming Operation and shall cover the period from the commencement of the Gaming Activities to the end of the first full calendar quarter. The quarterly payments shall be accompanied by the certification specified in subdivision {h).(h).
(d) (i) For purposes of subdivision (b)(ii), the Net Win generated from the operation of all additional Gaming Devices over the existing 2,000 Gaming Devices shal1 shall be calculated by multiplying the average Net Win per Gaming Device for the quarter by the average number of Gaming Devices operated during that quarter in excess of 2,000.
(ii) The average Net Win per Gaming Device is the total Net Win for the quarter divided by the average number of Gaming Devices present on the floors of the Tribe's Gaming Facilities during that quarter.
(iii) In tum, the average number of Gaming Devices for the quarter shall be determined by aggregating each day's total number of Gaming Devices present on the floors of the Tribe's Gaming Facilities for each day that the Gaming Facilities are open to the public during that quarter and dividing that total by the number of days in the quarter that the Gaming Facilities are open.
(e) If any portion of the fee payments under subdivision (b) herein is overdue after the State Gaming Agency has provided written notice to the Tribe of the overdue amount with an opportunity to cure of at least fifteen (15) business days, and if more than sixty (60) calendar2,000.
Appears in 1 contract
Samples: Tribal State Compact
