GAMING PROMOTER AGREEMENT
Exhibit 10.10
This
Agreement is entered into on 9th November 2009 ("the execution date") by and
between
MGM GRAND
PARADISE S.A., a company duly incorporated under the laws of the Special
Administrative Region of Macau, with registered office in Macau, at Avenida Dr.
SunYat Sen, Edifício MGM Grand Macau, registered with the Commercial Registry
Office under number 18972 (SO) herein represented by its Managing Director, Xx.
XX, XXXXX XXXXXXXX XXXX XXXX (hereinafter "MGPL"), and
SOCIEDADE
PROMOÇAO DE JOGOS IAO POU LIMITADA, a company duly incorporated under the laws
of the Special Administrative Region of Macau, with registered office in Macau,
at Alameda Xx. Xxxxxx x' Xxxxxxxxx 181 - 187, Edifício Centro Comercial do Grupo
Brilhantismo, 12°andar T, herein represented by its director ZHENG ANTING
(hereinafter "Gaming Promoter").
WHEREAS:
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I.
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MGPL
is entitled to operate games of luck and chance and other games in casino
in the jurisdiction of the Special Administrative Region of Macau of the
People's Republic of China (hereinafter "Macau SAR"), pursuant to a
Sub-Concession Contract entered into as of April 19th 2005 (hereinafter
the "Sub-Concession Contract"), in the terms and conditions approved by
the Government of Macau SAR;
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II.
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MGPL
wishes to retain the services provided by the Gaming Promoter, acting as
an independent contractor, for the purpose of the Gaming Promoter
procuring, directing and recommending customers and patrons to the Casino
located at the Hotel – Resort – Casino complex designated "MGM Grand
Macau", located in the Nam Van district, NAPE, Macau Peninsula, Macau SAR
(hereinafter the "MGM Grand Macau
Casino");
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III.
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Gaming
Promoter is entitled to conduct activities of promotion of games of luck
and chance in casino in Macau SAR pursuant to the License no. E232, issued
by the Gaming Inspection and Coordination Bureau of the Government of
Macau SAR (hereinafter, "DICJ") on 16th Oct
2009;
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NOW
THEREFORE, for and in consideration of the foregoing recitals and the mutual
agreements hereinafter set forth, MGPL and Gaming Promoter hereby agree to act
in good faith and to abide by the following provisions:
Clause
1
GENERAL
DUTIES OF GAMING PROMOTER
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1.
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Gaming
Promoter shall serve as an independent contractor for MGPL with the
primary responsibility of procuring, directing and recommending gaming
patrons to MGPL, notwithstanding the right of MGPL to accept or reject
patrons to the MGM Grand Macau Casino recommended by the Gaming Promoter,
at its sole discretion.
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2.
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Gaming
Promoter shall do the best endeavors so as to actively promote and market
MGPL before gaming patrons, namely through the promotion of
transportation, accommodation, meals and entertainment, and to undertake
all related activities following the rules and regulations set up by
MGPL.
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1
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3.
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Gaming
Promoter shall not serve as a gaming promoter or agree to provide the
services set forth herein, whatever the definition under which such is
agreed, for any other casinos in Macau during the term of this Agreement,
without prior notice to MGPL, and agrees to disclose to MGPL any existing
relationship with any other hotels or casinos in
Macau.
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4.
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Gaming
Promoter shall not use the services of any other gaming promoter nor the
services of any other gaming promoter's key employees or collaborators to
fulfill the obligations under this
Agreement.
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5.
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Gaming
Promoter shall not solicit casino players from the main gaming floor
and/or from other VIP Gaming areas of the MGM Grand Macau Casino or of any
other casinos operated in the future by
MGPL.
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6.
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Gaming
Promoter shall act and take all measures necessary so as to ensure that
all non-negotiable chips acquired remain within the property's gaming
facilities and are wagered on the Gaming Promoter's designated tables
only, and so as to ensure that no under the table betting is conducted by
gaming patrons procured by Gaming
Promoters.
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7.
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Gaming
Promoter agrees to take all acts and measures necessary so as to ensure
that Gaming Promoter's directors, key employees, collaborators and
officers comply and act in accordance with all obligations incurred or
assumed by Gaming Promoter under this
Agreement.
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8.
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Gaming
Promoter agrees to, at all moments, comply and act in accordance with all
organizing and operating instructions, requests and principles established
by MGPL and any other rules, regulations and procedures established by
MGPL from time to time (including but not necessarily limited to internal
controls and anti-money laundering
regulations).
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9.
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Gaming
Promoter agrees to submit to the prior approval of MGPL all marketing,
advertising and promotional materials, including without limitation name
cards, utilized and divulged by Gaming Promoter in relation to the
activities conducted under this
Agreement.
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10.
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In
performing his/her activities under this Agreement, Gaming Promoter shall
seek to meet MGPL's standards of quality and professionalism in the
industry of gaming, hospitality and entertainment and shall refrain from
any and all acts that might be detrimental to MGPL's image and reputation
with patrons, customers and general
public.
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11.
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Gaming
Promoter agrees to immediately inform MGPL of: (i) the appointment of any
Gaming Promoter's director, (ii) the engagement with any Gaming Promoter's
key employee, and (iii) any transfer of shares representative of 5% or
more of Gaming Promoter's corporate capital, in case Gaming Promoter is a
company, occurred during the term of this
Agreement.
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12.
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Following
the verification of any of the circumstances mentioned in (i), (ii) or
(iii) of paragraph 11 above, Gaming Promoter further agrees to act so as
to ensure that its new director, key employee or shareholder, as the case
may be, is submitted for approval to a probity review background
investigation conducted by XXXX.
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0
Xxxxxx
0
XXXX
XXXXXXXXXX WITH THE LAWS OF MACAU SAR
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1.
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Gaming
Promoter further agrees, represents and warrants to, at all moments,
comply and act in accordance with all applicable laws, regulations and
instructions set forth in the jurisdiction of Macau SAR (including but not
necessarily limited to those concerning the activity of Gaming Promoters,
gaming - industry, concession of credit, anti-money laundering or money
collection, as the case may be).
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2.
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Gaming
Promoter agrees namely to comply with the following obligations, listed as
an example only:
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a)
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To
submit, immediately after the date of signature of this Agreement, an
application for junket licensing with the Macau Gaming Inspection and
Coordination Bureau (hereinafter "DICJ"), as an independent Gaming
Promoter (also known as "Gaming Promoter" or "Promoter de Jogo"), and to
maintain the appropriate Gaming Promoter license issued by
DICJ;
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b)
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To
approve and implement the appropriate internal rules and procedures for
purposes of prevention of money laundering and financing of terrorism, to
appoint a Compliance Officer in charge of the supervision and coordination
of its implementation, to submit all necessary communications to DICJ in
regard of the provided herein and to comply with any of its instructions
or directives;
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c)
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To
supply MGPL with all currency transaction records between Gaming Promoter
and patrons which are required by all anti-money laundering laws and
regulations applicable, on the dates required to comply with the
provisions therein or with any instructions or directives issued by MGPL's
Compliance Officer;
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d)
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For
purposes of the previous paragraph, to submit to MGPL, on the 1st and 15th
days of every month, all ROVE's (High Value Transaction Reports) filed
during the previous 15-day period, and to submit to MGPL all RTS's
(Suspect Transaction Reports) no later than the second day following
completion of the transaction(s)
concerned,
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e)
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To
maintain complete and accurate records of transactions conducted by Gaming
Promoter and by patrons procured by Gaming Promoter, to submit any such
records to MGPL upon request by MGPL from time to time and to transfer to
MGPL all such records upon expiry or termination of this Agreement for any
reason whatsoever;
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f)
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To
supply MGPL, on a quarterly basis, in no circumstances later than the 15th
day prior to the end of each quarter of the civil year, a nominative list
including the names of: (i) Gaming Promoter's current directors, in case
Gaming Promoter is a company; (ii) Gaming Promoter's current key
employees; (iii) Gaming Promoter's current collaborators and (iv) any
other officers or individuals currently performing work or services with
Gaming Promoter;
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g)
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To
immediately communicate to MGPL any alteration to the list mentioned in f)
above;
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h)
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To
supply MGPL, before November 1st of each year, a list containing the
identification of the collaborators with whom the Gaming Promoter intends
to operate for the following year, together with copies of the respective
identification cards and the respective criminal record
certificates;
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i)
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Prior
to the issuance by MGPL of any checks or wires for payment of win-prizes
due to any patron procured by Gaming Promoter, to provide validated
identification of patron, so as to allow MGPL to confirm patron's
legitimacy to being paid the prize;
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3
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j)
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To
ensure that Gaming Promoter's directors, key employees and collaborators
carry the identification badge provided by MGPL, while circulating within
the casino facilities in the exercise of their
functions;
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k)
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To
inform MGPL immediately of any suspected criminal activities or money
laundering activities by the Gaming Promoter's partners, employees or
customers;
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l)
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To
inform MGPL immediately if Gaming Promoter cannot carry out part or all of
the obligations set out in this
Agreement.
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Clause
3
OBLIGATIONS
OF MGPL
MGPL
hereby agrees to:
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a)
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Provide,
at MGPL's discretion, badges to be used by Gaming Promoter's designated
employees strictly in connection with the services rendered by Gaming
Promoter's employees hereunder and for no other purpose. Any other
advertising or promotional material concerning MGPL desired by Gaming
Promoter shall be submitted to MGPL for prior approval. No such
advertising or promotional materials will be utilized without prior
approval;
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b)
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Provide
fully furnished and completed VIP gaming rooms which cannot be
structurally or physically changed with decoration by Gaming Promoter
without prior approval by MGPL;
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c)
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Grant
access to MGPL's VIP Casino to Gaming Promoter's designated employees and
patrons;
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d)
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Maintain
complete and accurate records of all transactions between Gaming Promoter
and MGPL.
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Clause
4
MUTUAL
COVENANT
Both
parties represent and warrant that Gaming Promoter has neither paid, agreed to
pay, nor will pay any sums or any other consideration to any director, officer,
employee, agent or other representative of MGPL in connection with this
Agreement, nor has any such payment or agreement for payment been requested or
solicited by any such director, officer, employee, agent or other
representative. Gaming Promoter hereby acknowledges that any such payment or
agreement would constitute a serious breach of MGPL strict and solid policies,
and that this representation and warranty constitutes a material inducement upon
which MGPL is relying in entering into this Agreement.
Clause
5
AUTHORITY
OVER GAMES AND PREMISES
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1.
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MGPL
shall have the right to make all operational decisions pertaining to any
games.
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2.
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MGPL
shall have the right to ask Gaming Promoter to remove any employee or
patron, brought to MGPL by Gaming Promoter, from the gaming premises, at
the sole discretion of MGPL.
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4
Clause
6
COMPENSATION
TERMS
Gaming
Promoter will be compensated in accordance with the terms and conditions set
forth in Appendix I (Compensation Terms), attached hereto, and any alterations
thereof. It is understood and agreed that Appendix I may be amended by MGPL from
time to time and in its sole discretion. Any such amendment(s) will be effective
5 (five) days after notice is given to Gaming Promoter.
Clause
7
INDEPENDENT
CONTRACTOR
In
entering into this Agreement, the Gaming Promoter acknowledges and agrees that
Gaming Promoter's services will be provided to MGPL as an independent contractor
only, and not as an employee. Gaming Promoter is thus not and will not claim to
be, an employee of MGPL or its affiliate corporations under this Agreement and
Gaming Promoter shall not be entitled to receive any of the statutory or
contractual benefits typically provided to employees of MGPL or its affiliates.
Gaming Promoter represents and warrants that the execution or performance of
this Agreement does not constitute a breach of any other agreement or obligation
for Gaming Promoter's services. Gaming Promoter shall not have, and shall not
represent as having, any authority to make contracts in the name of or binding
on MGPL casino, or its affiliates or to pledge MGPL credit or to extend credit
in the MGPL name unless otherwise expressly and specifically authorized in
writing by MGPL.
Clause
8
CONFIDENTIAL
INFORMATION AND RESTRICTIVE COVENANTS
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1.
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All
information regarding patrons and the business affairs of MGPL, including
but not limited to, all gaming or hotel operations, related data, figures,
projections, estimates, agreements, customer lists, and accounting
procedures shall be considered and kept as private and confidential.
Gaming Promoter shall keep forever confidential and not divulge to any
third party any such gaming or hotel information regarding the customers
or business affairs of MGPL. This provision shall survive the termination
of this Agreement.
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2.
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Gaming
Promoter acknowledges that any breach, violation or evasion of any of the
terms of this Clause will result in immediate and irreparable injury and
harm to MGPL, and will cause damage to MGPL in amounts that are difficult
to ascertain and that cannot be precisely measured. Accordingly, Gaming
Promoter agrees and acknowledges that in the event of any action or
omission by the Gaming Promoter that results in or may tend to cause the
unauthorized or improper disclosure of any confidential information, MGPL
shall, in addition to any other rights or remedies at law or in equity, be
entitled to obtain immediate injunctive relief enjoining such conduct on
the part of Gaming Promoter, prohibiting Gaming Promoter from further
using the confidential information, and requiring the immediate return of
all such confidential information. Gaming Promoter shall further reimburse
MGPL for all of the damages, costs, and expenses, including without
limitation, reasonable attorney’s fees, that MGPL may sustain in
connection with efforts to enforce this provision, or as a result of any
unauthorized disclosure of confidential information by the Gaming
Promoter.
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5
Clause
9
PRIVILEGED
LICENSE BUSINESS
Gaming
Promoter acknowledges that MGPL casino is a business existing pursuant to a
Sub-Concession Contract entered into under the approval by the governmental
authorities of Macau SAR. If MGPL is directed to cease doing business with
Gaming Promoter by any such authority, or if MGPL, in good faith, believes that
the Gaming Promoter, or any of its employees or agents, is engaged in any
activities which jeopardize MGPL privileged contractual position, MGPL shall
have the right to terminate this Agreement by written notice to Gaming Promoter
without further liability. Gaming Promoter acknowledges that as a result of MGPL
holding a gaming sub-concession, MGPL is required to conduct appropriate due
diligence inquiries. Gaming Promoter agrees to cooperate as reasonably necessary
in MGPL's inquiry in this regard, and should the results of such due diligence
inquiry be unsatisfactory to MGPL, it shall have the right to terminate this
Agreement upon notice and without any further liability.
Clause
10
INDEMNIFICATION
The
Gaming Promoter agrees to indemnify and hold harmless MGPL, its affiliates and
subsidiaries and their respective directors, officers, employees, agents and
representatives against any and all claims, demands, damages, actions or
liabilities arising from the Gaming Promoter's performance of this Agreement or
any unlawful or negligent acts of the Gaming Promoter or its employees, agents
or representatives.
Clause
11
NON-ASSIGNMENT
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1.
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This
Agreement and any rights or obligations hereunder may in no circumstances
be assigned, delegated, or otherwise transferred by Gaming Promoter to a
third party in whole or in part.
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2.
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Any
attempts to so assign, delegate, or transfer this Agreement or any rights
or obligations hereunder without such consent shall be null and void and
of no force and effect.
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Clause
12
EFFECTIVE
DATE AND TERM
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1.
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This
Agreement shall be effective and produce effects from 16th November 2009
("the Effective Date").
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2.
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This
Agreement shall continue until 31st December 2009 and shall be thereafter
automatically renewed for periods of one year, corresponding each renewal
period to the civil year period (January 1st - December 31st ),
unless earlier terminated as provided
herein.
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3.
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Should
the Gaming Promoter's license or any of its renewals or the authorization
to Gaming Promoter's registration be denied, refused or revoked by DICJ,
for whatever motive or reason, this Agreement shall automatically become
null and void.
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Clause
13
TERMINATION
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1.
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Either
party may terminate this Agreement at any time without cause, upon thirty
(30) days advance written notice to the other
party.
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2.
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MGPL
shall have the right to terminate this Agreement immediately, without
further liability or obligation of any kind whatsoever, in the event
that:
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6
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a)
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Dishonesty,
gross negligence or willful malfeasance is found in the performance of
Gaming Promoter duties and obligations, or Gaming Promoter commits a
material breach of any of the terms of this Agreement or of any other
agreement currently entered into or to be entered into by and between
Gaming Promoter and MGPL;
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b)
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MGPL
determines that continuation of this Agreement may have a materially
adverse affect upon the relationship between MGPL, any of its principal
shareholders or its affiliates and any government
agency;
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c)
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In
case a minimum amount of chips purchase per month is provided in Appendix
I to this Agreement, that minimum amount of chips purchase is not achieved
by Gaming Promoter;
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d)
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Any,
of the Persons mentioned in (i), (ii) or (iii) of paragraph 11 of Clause 1
above is not approved by MGPL, following the probity review background
investigation conducted by MGPL pursuant to paragraph 12 of Clause 1
above.
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Clause
14
NOTICE
Any
notice required or permitted to be given pursuant to this Agreement shall be in
writing and be deemed given when personally delivered or seventy-two (72) hours
after being deposited in the Macau mail, postage prepaid, addressed as
follows:
Notice
to MGPL
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Legal
Department
Avenida
Dr. Sun Yat Sen
Edificío
MGM Grand Macau, s/n
Macau
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Notice
to Gaming Promoter:
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ZHENG
ANTING
Alameda
Xx. Xxxxxx x' Xxxxxxxxx 181-187
Edifício
Centro Comercial do Grupo Brilhantismo,
12°
andar T
Macau
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Clause
15
GOVERNING
LAW AND JURISDICTION
This
Agreement shall be governed by and construed in accordance with the laws of
Macau SAR. Any dispute arising out of or relating to the execution, performance
or interpretation of this Agreement shall be submitted to the jurisdiction of
Macau SAR, with exclusion of any other jurisdiction.
Clause
16
ENTIRE
AGREEMENT AND LANGUAGE
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1.
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This
Agreement and Appendix I hereto set forth the entire understanding between
Gaming Promoter and MGPL and incorporate and supersede all prior and
contemporaneous agreements and understandings with respect thereto. This
Agreement may only be amended by subsequent writing signed by both
parties.
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7
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2.
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The
parties agree that the controlling language of this Agreement shall be
English. Each party fully understands this Agreement as written in the
controlling language of English. If required by the courts of Macau SAR,
the parties agree that MGPL may, at its option, obtain either a Portuguese
or Chinese translation of fris
Agreement.
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IN
WITNESS WHEREOF the Parties have caused this Agreement to be duly executed in
three originals, duly signed and initialed by both parties in the presence of
each other.
MPGL
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GAMING
PROMOTER
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/s/
Xxxxx Xx
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/s/
Zheng Anting
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Xxxxx
Xx, Managing Director
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ZHENG
ANTING, Director
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Print
Name
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Print
Name
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Date
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Date
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8
APPENDIX
I
COMPENSATION
TERMS
This
Appendix I (Compensation Terms) is made between MGPL and Gaming Promoter and
shall add to and form an integral part of the Gaming Promoter Agreement, signed
and executed by the parties, which terms and conditions shall apply to this
Appendix unless otherwise stated herein.
Clause
1
CHIPS
PURCHASE
Gaming
Promoter chips purchase transactions shall be recorded using the MGPL
Compensation Program selected by Gaming Promoter as provided below.
Clause
2
DEDICATED
ROOM(S)
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1.
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MGPL
shall allocate to Gaming Promoter the Gaming Room(s) identified in
Appendix 1A herein attached, forming an integral part of this
Appendix.
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2.
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MGPL
is entitled to withhold the necessary amounts from the Gaming Promoter's
compensation at settlement to repair any damage done to the Gaming Room(s)
and/or furnishings assigned to the Gaming
Promoter.
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Clause
3
COMPENSATION
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1.
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Gaming
Promoter joins the following compensation
program:
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Revenue
Sharing with Rolling Chips Bonus Program
Monthly Rolling
Chip(HKD$)
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Revenue Sharing(%
on Win/Loss)
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Rolling Chip Bonus
(% on Rolling
Chips)
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Complimentary
Credits (% on
Rolling Chips)
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Special Comps
Reward(HKD$)
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||||||||||||
1,000,000,000.00
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40.00 | % | 0.110 | % | 0.060 | % | 100,000.00 | |||||||||
3,000,000,000.00
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40.00 | % | 0.130 | % | 0.060 | % | 100,000.00 | |||||||||
4,500,000,000.00
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40.00 | % | 0.140 | % | 0.060 | % | 100,000.00 | |||||||||
6,000,000,000.00
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40.00 | % | 0.150 | % | 0.060 | % | 100,000.00 | |||||||||
8,000,000,000.00
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40.00 | % | 0.160 | % | 0.060 | % | 100,000.00 | |||||||||
10,000,000,000.00
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40.00 | % | 0.170 | % | 0.060 | % | 100,000.00 | |||||||||
15,000,000,000.00
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40.00 | % | 0.180 | % | 0.060 | % | 100,000.00 |
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2.
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In
the event that the total amount of the Monthly Rolling Chip is inferior to
1,000,000,000.00 HKD$, Gaming promoter shall receive a Revenue Sharing at
40%, Complimentary Credits at 0.060% and no Rolling Chip
Bonus.
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3.
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In
the event that the Revenue represents a loss, the Gaming Promoter shall
pay the amount equivalent to 40% (forty percent) of the loss to MGPL; MGPL
shall be entitled to withhold from the Gaming Promoter's compensation at
settlement any amounts outstanding.
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4.
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Calculation
of all amounts provided herein shall be based solely on the records kept
by MGPL, in relation to the Revenue generated by patrons procured by
Gaming Promoter, save for manifest
error.
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9
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5.
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All
compensation terms, percentages and amounts provided herein are subject to
any restrictions, conditions or limitations that might be imposed from
time to time by the Government of Macau
SAR.
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Clause
4
DATES OF
PAYMENT
MGPL
shall calculate revenue sharing or commission amounts, bonus and complimentary
credits earned by Gaming Promoter on a monthly basis, on the last day of the
month in which the compensation was earned. MGPL will pay sums due to Gaming
Promoter by the second (2nd) business day of the following month.
Clause
5
USAGE OF
COMPLIMENTARY CREDITS AND SPECIAL COMPLIMENTARY REWARDS
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1.
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Complimentary
credits and special complimentary rewards will be granted towards any MGPL
hotel, food and beverage expenses purchased by Gaming
Promoter.
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2.
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Use
of complimentary credit and special complimentary rewards towards other
services outside of MGPL casino will not be allowed, unless otherwise
permitted at the sole discretion of
MGPL.
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3.
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Complimentary
credit and special complimentary rewards may only be used Gaming Promoter
in favor of Gaming Promoter, any of its shareholders, directors, key
employees or collaborators or any patron procured by Gaming Promoter, and
may in no circumstances be assigned or transferred, whether on onerous or
gratuitous terms, by Gaming Promoter to any third
party.
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4.
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Any
unused portion of the complimentary credit earned by Gaming Promoter shall
be forfeited at the end of the month following the month in which such
complimentary credit is earned.
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5.
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Any
unused portion of the special complimentary reward shall be forfeited at
the end of the month in which it is
issued.
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6.
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Any
expenses purchased by Gaming Promoter in excess of the amounts of
complimentary credits and special complimentary rewards granted are
payable to MGPL by Gaming Promoter.
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7.
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MGPL
shall be entitled to withhold from the Gaming Promoter's compensation at
settlement any amounts outstanding pursuant to paragraph 6
above.
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Clause
6
TAXES
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1.
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Gaming
Promoter shall be responsible to pay the taxes due under Macau Law as
provided by article 29 of Law
16/2001.
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2.
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MGPL
will withhold government taxes from the Gaming Promoter's compensation at
settlement as required by the Macau government tax
regulation.
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10
Clause
7
CREDIT
LINE
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1.
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During
the execution of this Agreement, Gaming Promoter is entitled (as
"Grantee") to a credit line granted by MGPL (as "Grantor"), in the
substance of a revolving credit, against which credit draws may be
requested by Gaming Promoter from time to time, in those terms and subject
to any maximum limits to be determined at the sole discretion of
MGPL.
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2.
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Gaming
Promoter agrees to submit in writing to MGPL the full identification of
Gaming Promoter's representatives authorized to act on behalf of Gaming
Promoter when applying to any credit draws before
MGPL.
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3.
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The
aggregate amount of all credit draws granted during each month shall be
paid by Gaming Promoter to MGPL on the last day of the month concerned or
at settlement.
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4.
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MGPL
shall be entitled to withhold from the Gaming Promoter's compensation at
settlement any amounts outstanding and arising from credit draws granted
to Gaming Promoter pursuant to paragraphs 1, 2 and 3
above.
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Clause
8
NEGOTIABLE
INSTRUMENTS
|
1.
|
Gaming
Promoter accepts and agrees to be liable and responsible before MGPL for
the payment in full of any debts arising from a purchase of chips
conducted by any patron procured by Gaming Promoter against delivery of a
check, bank draft, traveler check, any other negotiable instrument (any of
which is hereinafter designated "negotiable instrument") or a wire
transfer instruction, until such negotiable instrument is honored in full
by the respective bank or credit
institution.
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2.
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In
the event that any negotiable instrument or wire transfer instruction
delivered to MGPL is dishonored, in connection with a purchase of chips
conducted whether by Gaming Promoter or by any patron procured by Gaming
Promoter, the respective amounts shall be made immediately and fully
payable by Gaming Promoter.
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3.
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MGPL
shall be entitled to withhold from the Gaming Promoter's compensation at
settlement any amounts outstanding pursuant to the provided
herein.
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Clause
9
TERM AND
CONDITION
The
effectiveness and validity of the provisions contained in this Appendix are
entirely conditioned to the effectiveness and validity of the Gaming Promoter
Agreement, and shall therefore be effective and deemed valid when and for as
long as the provisions of the Gaming Promoter Agreement are so, as provided
therein
IN
WITNESS WHEREOF the Parties have caused this Amendment Agreement to Appendix I
of Gaming Promoter Agreement to be duly executed in three originals, duly signed
and initialed by both parties in the presence of each other.
11
MPGL
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GAMING
PROMOTER
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/s/
Xxxxx Xx
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/s/
Zheng Anting
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Xxxxx
Xx, Managing Director
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ZHENG
ANTING, Director
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Print
Name
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Print
Name
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Date
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Date
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12
APPENDIX
1A
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Chip Set
# 12
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This
Agreement is entered into on 9th November 2009 ("the execution date") by and
between
MGM GRAND
PARADISE S.A., a company duly incorporated under the laws of the Special
Administrative Region of Macau, with registered office in Macau, at Avenida Dr.
SunYat Sen, Edifício MGM Grand Macau, registered with the Commercial Registry
Office under number 18972 (SO) herein represented by its Managing Director, Xx.
XX, XXXXX XXXXXXXX XXXX XXXX (hereinafter "MGPL"), and
SOCIEDADE
PROMOÇAO DE JOGOS IAO POU LIMITADA, a company duly incorporated under the laws
of the Special Administrative Region of Macau, with registered office in Macau,
at Alameda Xx. Xxxxxx x' Xxxxxxxxx 181 - 187, Edifício Centro Comercial do Grupo
Brilhantismo, 12°andar T, herein represented by its director ZHENG ANTING
(hereinafter "Gaming Promoter").
WHEREAS:
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I.
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MGPL
is entitled to operate games of luck and chance and other games in casino
in the jurisdiction of the Special Administrative Region of Macau of the
People's Republic of China (hereinafter "Macau SAR"), pursuant to a
Sub-Concession Contract entered into as of April 19th 2005 (hereinafter
the "Sub-Concession Contract"), in the terms and conditions approved by
the Government of Macau SAR;
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II.
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Gaming
Promoter is entitled to conduct activities of promotion of games of luck
and chance in casino in Macau SAR pursuant to the License no. E232, issued
by the Gaming Inspection and Coordination Bureau of the Government of
Macau SAR (hereinafter, "DICJ") on 16th, October
2009;
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III.
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Both
parties wish to enter into an Agreement pursuant to and for purposes of
paragraph 2 of Article 3 of Law 5/2004, of June 14th, of Macau SAR, in
compliance with all legal requirements
applicable;
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NOW
THEREFORE, for and in consideration of the foregoing recitals and the mutual
agreements hereinafter set forth, MGPL and Gaming Promoter hereby agree to act
in good faith and to abide by the following provisions:
Clause
1
AUTHORIZATION
TO EXTEND CREDIT
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1.
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Pursuant
to this Agreement, Gaming Promoter is authorized to conduct credit
extension activities at MGPL casino for games or individual
betting.
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2.
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The
activities of games promotion and credit extension shall be allowed only
in the location(s) as specifically authorized by
MGPL.
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3.
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The
credit extension activities mentioned above shall be conducted by the
Gaming Promoter at his/her own
name.
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14
Clause
2
COVENANTS
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1.
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Gaming
Promoter agrees, represents and warrants to, at all moments, comply and
act in accordance with all applicable laws, regulations and instructions
set forth in the jurisdiction of Macau SAR relevant to Gaming Promoter's
activity (including but not necessarily limited to those concerning the
activity of Gaming Promoters, concession of credit and anti-money
laundering, as the case may be).
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2.
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Gaming
Promoter further agrees to act in accordance with all rules and procedures
that may be implemented from time to time by
MGPL.
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Clause
3
NON-ASSIGNMENT
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1.
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This
Agreement and any rights or obligations hereunder may in no circumstances
be assigned, delegated, or otherwise transferred by Gaming Promoter to a
third party in whole or in part.
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2.
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Any
attempts to so assign, delegate, or transfer this Agreement or any rights
or obligations hereunder shall be null and void and of no force and
effect.
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Clause
4
EFFECTIVE
DATE AND TERM
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1.
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This
Agreement is effective from 16th November 2009 ("the Effective
Date").
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2.
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This
Agreement shall continue until 31st December 2009 and shall be thereafter
automatically renewed for periods of one year, corresponding each renewal
period to the civil year period (January 1st - December 31st), unless
earlier terminated as provided
herein.
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3.
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Should
the Gaming Promoter's license or any of its renewals or the authorization
to Gaming Promoter's registration be denied, refused or revoked by DICJ,
for whatever motive or reason, this Agreement shall automatically become
null and void.
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Clause
5
TERMINATION
Either
party may terminate this Agreement at any time without cause, with immediate
effects, upon written notice to the other party.
Clause
6
NOTICE
Any
notice required or permitted to be given pursuant to this Agreement shall be in
writing and be deemed given when personally delivered or seventy-two (72) hours
after being deposited in the Macau trail, postage prepaid, addressed as
follows:
Notice
to MGPL
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Legal
Department
|
|
Avenida
Dr. Sun Yat Sen
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Edificío
MGM Grand Macau, s/n
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||
Macau
|
15
Notice
to Gaming Promoter:
|
ZHENG
ANTING
|
|
Alameda
Xx. Xxxxxx x' Xxxxxxxxx 181-187
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||
Edifício
Centro Comercial do Grupo Brilhantismo,
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||
12°
andar T
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||
Macau
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Clause
7
GOVERNING
LAW AND JURISDICTION
This
Agreement shall be governed by and construed in accordance with the laws of
Macau SAR. Any dispute arising out of or relating to the execution, performance
or interpretation of this Agreement shall be submitted to the jurisdiction of
Macau SAR, with exclusion of any other jurisdiction.
Clause
8
ENTIRE
AGREEMENT AND LANGUAGE
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1.
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This
Agreement sets forth the entire understanding between Gaming
Promoter and MGPL and incorporates and supersedes all prior and
contemporaneous agreements and understandings with respect thereto. This
Agreement may only be amended by subsequent writing signed by both
parties.
|
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2.
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The
parties agree that the controlling language of this Agreement shall be
English. Each party fully understands this Agreement as written in the
controlling language of English. If required by the courts of Macau SAR,
the parties agree that MGPL may, at its option, obtain either a Portuguese
or Chinese translation of this
Agreement.
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IN
WITNESS WHEREOF the Parties have caused this Agreement to be duly executed in
three originals, duly signed and initialed by botch parties in the presence of
each other.
MPGL
|
GAMING
PROMOTER
|
||
/s/
Xxxxx Xx
|
/s/
Zheng Anting
|
||
Xxxxx
Xx, Managing Director
|
ZHENG
ANTING, Director
|
||
Print
Name
|
Print
Name
|
||
Date
|
Date
|
16