OPTION AGREEMENT By and between SAHARA LAS VEGAS CORP., a Nevada corporation, and LAS VEGAS TOWERS LLC, a Delaware limited liability company December 22, 2008 2600 LAS VEGAS BOULEVARD SOUTH CLARK COUNTY, NEVADAOption Agreement • December 24th, 2008 • Archon Corp • Services-miscellaneous amusement & recreation • Nevada
THIS OPTION AGREEMENT (“Agreement”), is made as of December 22, 2008, by and between Sahara Las Vegas Corp., a Nevada corporation (“Optionor”), and Las Vegas Towers LLC, a Delaware limited liability company (“Optionee”).
SAHARA LAS VEGAS CORP. CONTINGENT WARRANT TO PURCHASE SERIES A PREFERRED STOCKArchon Corp • December 24th, 2008 • Services-miscellaneous amusement & recreation • New York
THIS WARRANT CERTIFIES THAT, for good and valuable consideration, LAS VEGAS TOWERS LLC, A DELAWARE LIMITED LIABILITY CORPORATION (LAS VEGAS TOWERS LLC, together with any successor or permitted assignee or transferee of this Warrant or of any shares issued upon exercise hereof, is referred to hereinafter as “Holder”) is entitled to purchase no more and no less than 60,000 fully paid and non-assessable shares (the “Shares”) of Series A Preferred Stock of Sahara Las Vegas Corp., a Nevada corporation (the “Corporation”), at the above-stated Warrant Price, subject to the provisions and upon the terms and conditions set forth in this Warrant.
