Casino Component definition
Examples of Casino Component in a sentence
In addition, notwithstanding anything to the contrary contained herein, for purposes of determining the amount of any required FF&E Reserve Fund deposits (and for purposes of calculating such amount, monthly, based on the formula set forth in the first sentence of this Section 7.3.1), Revenues shall include Revenue from the Hotel Component and the Casino Component but shall not include non-Hotel or Casino related Revenues (e.g., Rents from retail tenants).
The theme of the Hotel/Casino Property and the Casino Component shall not be materially changed without the prior written consent of Lender, which consent shall not be unreasonably withheld.
It is understood and agreed that the filing of a “form of” the Operating Lease (Casino Component), a “form of” the Operating Lease (Hotel Component) and a “form of” the Management Agreement (as opposed to those with respect to each of the Properties) shall satisfy the foregoing sentence.
City and EDC are relying upon Developer and the Casino Component Manager/Operators in the exercise of their skill, judgment, reputation and discretion with respect to the Casino Complex.
Borrowers shall cause Mortgage Borrowers to thereafter maintain all Gaming Licenses, Operating Permits and Governmental Approvals necessary for the lawful operation of the Casino Component as a casino consistent with Comparable Hotel/Casinos and use its commercially reasonable efforts to operate the Casino Component in a manner designed to maximize revenues from the Properties in the aggregate.
Borrowers shall cause Hotel/Casino Borrower to cause the Hotel/Casino Property to be at all times open for business as a hotel and the Casino Component to be open at all times for business as a casino, other than as provided under the Gaming Sublease, pursuant to Legal Requirements, temporary closures as a result of Casualty or other events outside the reasonable control of Borrowers and Mortgage Borrowers.
Developer agrees to diligently operate and maintain the Casino Complex and all other support facilities directly, or through Casino Component Manager/Operators or Component manager(s), in a manner consistent with First Class Casino Complex Standards and in compliance with this Agreement.
Borrowers shall cause Mortgage Borrowers to permit agents, representatives and employees of Lender to inspect the Properties or any part thereof at reasonable hours upon reasonable advance notice (which may be given verbally), subject to the rights of tenants under their Leases (other than the Casino Component Lease).
City and other relevant representatives and the relevant Casino Component Manager/Operators shall meet within thirty (30) days after presentation of the Annual Business Plan to City to discuss those aspects of the Annual Business Plan addressing marketing, revenue payments and other relevant issues.
Developer shall make or cause to be made available Books and Records of the Casino Component Manager/Operators for the aforesaid purpose.