EXHIBIT 2.4
TERMINATION OF LEASE
THIS TERMINATION is made as of this ______ day of June, 1998, between
Empress Entertainment, Inc., a Delaware corporation ("Empress Entertainment")
f/k/a LMC Leasing, Ltd., and Empress Casino Xxxxxxx Corporation, an Indiana
corporation ("Empress Hammond") f/k/a Lake Michigan Charters, Ltd.
W I T N E S S E T H :
WHEREAS, Empress Entertainment and Empress Hammond entered into that
certain Bareboat Charter Party Agreement dated June 30, 1997 (hereinafter
referred to as the "Lease") for lease of a whole riverboat casino vessel known
as the "Empress III" (Official Number 103574), together with its engines,
machinery, masts, cables, chains, rigging, tackling, fittings, tools, pumps and
pumping equipment, boats and anchors, and all additions, improvements and
replacements made in or to said vessel or any part or appurtenance thereof (all
of the foregoing being hereinafter collectively referred to as the "Vessel"),
located in the City of Xxxxxxx, State of Indiana;
WHEREAS, Empress Entertainment and Empress Xxxxxxx desire to terminate the
Lease for the Vessel as more fully set forth below.
NOW, THEREFORE, in consideration of the mutual covenants and conditions
contained herein and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree to terminate the
Lease under the following conditions:
1. TERMINATION DATE. The Lease shall terminate on and as of the date hereof
(the "Termination Date"), in the same manner and with the same effect as if
that date had been originally fixed in the Lease for the expiration of the
term.
2. OUTSTANDING RENT AND OTHER CHARGES. Empress Hammond shall pay to Empress
Entertainment all rent and other charges as specified in the Lease through
the Termination Date. Any rent and other charges payable with respect to
any period prior to the Termination Date, which rent or charges cannot be
ascertained prior to the Termination Date, shall be paid by Empress Xxxxxxx
after the Termination Date, upon demand by Empress Entertainment.
3. FURTHER ASSURANCES. Each party agrees to cooperate with the other and to
execute and deliver all such further instruments and documents and do all
such further
acts and things as such party may be reasonably requested to do from time
to time by the other party in order to carry out the provisions and
objectives of this Termination.
IN WITNESS WHEREOF, this Termination is executed as of the day and year
first written above.
EMPRESS ENTERTAINMENT, INC. EMPRESS CASINO XXXXXXX
CORPORATION
By:___________________________ By:________________________________
Title:________________________ Title:_____________________________
Date:_________________________ Date:______________________________
