CityCenter Project definition
Examples of CityCenter Project in a sentence
The Parties acknowledge that certain areas of the CityCenter Project may be operated by Third-Party Operators under a lease, operating agreement, franchise agreement or similar agreement.
Owner is duly qualified to do business and is in good standing in each jurisdiction where it is required to be so qualified in connection with the ownership of the CityCenter Project, and the conduct of its businesses and operations.
In the event the CityCenter Project (or any Component thereof) shall be damaged or destroyed by any Casualty, Owner shall have the right, in its sole option, in accordance with the Joint Venture Agreement, to elect whether or not to undertake a restoration of the CityCenter Project or any damaged Component thereof.
During any Operating Year, pursuant to this Agreement and in connection with all Project Agreements, it being understood that this limitation applies to the entire CityCenter Project, Manager shall not have the right to designate (i) more than fifty (50) individuals as Other Personnel; or (ii) more than Twenty Million Dollars ($20,000,000) in base salary for Other Personnel in any Operating Year, in each case without obtaining Owner’s prior written approval.
CityCenter Land, LLC, a Nevada limited liability company (“CCL”), owns the land on which Owner is in the process of constructing the CityCenter Project.
Owner owns the land on which Owner is in the process of constructing the CityCenter Project.
DW Member shall have the right to appoint a representative for the CityCenter Project (the “DW Representative”), the identity of whom shall be subject to the reasonable approval of Operator (not to be unreasonably withheld, conditioned or delayed).
Neither the Managers nor Owner shall assert against the other, and each does hereby waive with respect to the other to the extent it is legally possible to do so, any Claims incurred or sustained by it on account of damage or injury to persons or property arising out of the ownership, operation or maintenance of the CityCenter Project, to the extent that the same are covered by the proceeds received as a result of any insurance, so long as such waiver does not adversely affect such insurance coverage.
Owner acknowledges, however, that Affiliates of MGM MIRAGE (excluding the General Manager and its subsidiaries) do and will engage in operations, ownership, or other activities or businesses that compete with the operations and business of the Crystals Component and/or other Components of the CityCenter Project, and such actions and conduct are expressly permitted.
In connection with the foregoing, the Retail Operator shall, without further compensation, use commercially reasonable and diligent efforts to obtain all necessary receipts, releases, waivers, discharges and assurances necessary to keep the CityCenter Project free from mechanics’ and materialmen’s liens and other claims.