Common use of Unredeemed Chip Liability Clause in Contracts

Unredeemed Chip Liability. Any and all unredeemed gaming chips and tokens in circulation, whether relating to the operation of the Business before, at or after the Closing (the "Unredeemed Chip Liability"), which are presented by patrons of the Business for payment within the applicable time periods for legal redemption. For purposes of the adjustment to the Purchase Price pursuant to Section 3.3.2.2, the Unredeemed Chip Liability shall be discounted to reflect a reasonable assumption of gaming chips and tokens which are not expected to be redeemed and which discount shall be computed in accordance with the methodology described in Schedule 3.3.3(e);

Appears in 2 contracts

Samples: Asset Purchase Agreement (Penn National Gaming Inc), Asset Purchase Agreement (Penn National Gaming Inc)

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Unredeemed Chip Liability. Any and all unredeemed ------------------------- gaming chips and tokens in circulation, whether relating to the operation of the Business before, at or after the Closing (the "Unredeemed Chip Liability"), which are presented by patrons of the Business for payment within the applicable time periods for legal redemption. For purposes of the adjustment to the Purchase Price pursuant to Section 3.3.2.2, the Unredeemed Chip Liability shall be discounted to reflect a reasonable assumption of gaming chips and tokens which are not expected to be redeemed and which discount shall be computed in accordance with the methodology described in Schedule -------- 3.3.3(e);; --------

Appears in 1 contract

Samples: Asset Purchase Agreement (Hollywood Park Inc/New/)

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Unredeemed Chip Liability. Any and all unredeemed gaming ------------------------- chips and tokens in circulation, whether relating to the operation of the Business before, at or after the Closing (the "Unredeemed Chip Liability"), which are presented by patrons of the Business for payment within the applicable time periods for legal redemption. For purposes of the adjustment to the Purchase Price pursuant to Section 3.3.2.2, the Unredeemed Chip Liability shall be discounted to reflect a reasonable assumption of gaming chips and tokens which are not expected to be redeemed and which discount shall be computed in accordance with the methodology described in Schedule 3.3.3(e);; ------------------

Appears in 1 contract

Samples: Asset Purchase Agreement (Hollywood Park Inc/New/)

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