Land Concession Contract definition
Examples of Land Concession Contract in a sentence
Notwithstanding any other provision of this paragraph 15, agree to any amendment to or termination of, or assign, transfer, cancel or waive any of its rights under the Concession Contract or the Land Concession Contract without obtaining the prior written consent of the Intercreditor Agent.
VML has good leasehold title to the Sands Macao Site pursuant to such Land Concession Contract, free and clear of all liens, encumbrances and other exceptions to title other than Permitted Liens.
The enforcement of the Assignment in the manner described in Clause 4.1(b), 4.1(c) and/or 4.1(d) shall, if requested by the Security Agent, be effected through the entering into a revision to the Land Concession Contract which will substitute the name and references to the Company as lessee of the Land with the name of the Security Agent or, as the case may be, the relevant assignee.
With respect to any Casino Operation Project or Cotai Strip Investment Project, the Company shall have delivered to the Disbursement Agent and the Bank Agent a survey of the Site for such Secondary Project from the Cadastre and Cartography Bureau or copies of the description of such Site attached to the applicable Land Concession Contract reasonably satisfactory in form and substance to the Bank Agent.
As promptly as possible upon obtaining any Land Concession Contract therefor, the “air parcel” or other Property comprising any casino or gaming area shall be properly subdivided from any other Property such that each such “air parcel” or other Property comprising any casino or gaming area may be separately mortgaged, conveyed and otherwise dealt with as a separate legal lot or parcel.
A true and correct copy of the Sands Macao Land Concession Contract, which shall be certified by an Authorized Officer of the Company as being in full force and effect and evidencing that the Company has been granted an exclusive lease over the land on which the Sands Macao Casino is located and the land on which the Sands Macao Podium Expansion Project will be completed by Macau SAR for a term of at least 15 years.
No breach or default has occurred by the Company or any Loan Party under, and no breach or default by the Macau SAR of any material obligation under, the Gaming Concession Contract, the Gaming Concession Consent, any Land Concession Contract for an Active Project or any Land Concession Consent for an Active Project.
To the Borrower’s knowledge, no breach or default has occurred by any party other than the Borrower, the Company, the Macau SAR or a Loan Party under any Material Contract (other than the Gaming Concession Contract and the Land Concession Contract, which are covered by the preceding sentence and not this sentence), in each case unless the same could not reasonably be expected to have a Material Adverse Effect.
Delivery to the Administrative Agent of evidence that all performance bonds, guarantees or similar items required by the Gaming Sub-Concession Contract or the Land Concession Contract then in effect have been provided to Macau SAR, and the Arrangers and the Administrative Agent shall be reasonably satisfied with such performance bonds, guarantees or similar items, the terms and providers thereof and the status of the recourse to the Loan Parties in respect thereof.
The Company shall have delivered to the Disbursement Agent and the Bank Agent a survey of the Site for the Four Seasons Macao Overall Project from the Cadastre and Cartography Bureau or copies of the description of such Site attached to the applicable Land Concession Contract reasonably satisfactory in form and substance to the Bank Agent.