Redemption Pursuant to Gaming Laws. If a Holder or a beneficial owner of a Note is required by any Gaming Authority to be found suitable to hold the Securities, the Holder shall apply for a finding of suitability within 30 days after a Gaming Authority request or sooner if so required by such Gaming Authority. The applicant for a finding of suitability must pay all costs of the investigation for such finding of suitability. If a Holder or beneficial owner is required to be found suitable to hold the Securities and is not found suitable by a Gaming Authority, the Holder shall, to the extent required by applicable law, dispose of his Securities within 30 days or within that time prescribed by a Gaming Authority, whichever is earlier. If the Holder fails to dispose of his Securities within such time period, the Issuers may, at their option, redeem such Holder's Securities (a "Required -------- Regulatory Redemption") at, depending on applicable law, (i) the --------------------- principal amount thereof, together with accrued and unpaid interest (and Liquidated Damages, if any) to the date of the finding of unsuitability by a Gaming Authority, (ii) the amount that such Holder paid for the Securities, (iii) the fair market value of the Securities, (iv) the lowest of clauses (i), (ii) and (iii), or (v) such other amount as may be determined by the appropriate Gaming Authority.
Redemption Pursuant to Gaming Laws. (a) If required to qualify by the Casino Control Commission, all Holders, whether initial Holders or subsequent transferees, shall be subject to the qualification provisions of the Casino Control Act relating to financial sources and/or security holders. In the event that the Casino Control Commission determines that a Holder is not qualified under the Casino Control Act and/or such Holder fails to submit for qualification as required by the Casino Control Commission in its sole discretion, the Company shall have the absolute right and obligation to purchase from such Holder (the "Disqualified Holder") the Securities the Disqualified Holder may then possess, either directly, indirectly or beneficially, no later than forty-five days after the date the Company serves notice on any Disqualified Holder of such determination. Immediately upon such determination, the Disqualified Holder shall have no further right (i) to exercise, directly or indirectly, through any trustee or nominee or any other person or entity, any right conferred by any Securities and (ii) to receive any dividends, interest, or any other distribution or payment with respect to any such Securities or any remuneration in any form from the Company or the Trustee; provided, however, that after such disqualification, interest on any such Securities shall continue to accrue for the benefit of any subsequent Holder thereof. The Company shall promptly provide to the Trustee a copy of each notice served to a Disqualified Holder.
Redemption Pursuant to Gaming Laws. (a) Notwithstanding any other provision of this Article 3, if any Gaming Authority requires that a holder or Beneficial Owner of Notes be licensed, qualified or found suitable under any applicable Gaming Law and such holder or Beneficial Owner:
Redemption Pursuant to Gaming Laws. (a) Notwithstanding the provisions of Section 14.2 hereof and any related paragraphs of the Securities of any series, if any Gaming Authority requires that a Holder or beneficial owner of Securities of any series must be licensed or found qualified or suitable to hold or own the Securities of any such series, but that Person is not licensed or found qualified or suitable within any time specified by such Gaming Authority, or such Gaming Authority denies a license to or finds unqualified or unsuitable such Person, the Issuer will have the right at its option to require such Person to dispose of such Person's Securities of such series within the time period prescribed by the Issuer or such other time period as may be prescribed by any Gaming Authority, which time period shall be specified in a written notice from the Issuer. If such Holder or beneficial owner, having been given the opportunity by the Issuer to dispose of such Securities, fails to dispose of such Securities within the prescribed time period, the Issuer shall have the right to call for redemption such Securities by notice of redemption to such Person.
Redemption Pursuant to Gaming Laws. Notwithstanding any other provision of this Article 3, if any Gaming Authority requires that a Holder or beneficial owner of Securities of a Holder must be licensed, qualified or found suitable under any Gaming Law, such Holder or such beneficial owner shall apply for a license, qualification or a finding of suitability, as the case may be, within the required time period. If such person fails to apply or become licensed or qualified or is not found suitable (in each case, a "failure of compliance"), the Company shall have the right, at its option, (i) to require such Holder or owner to dispose of such Holder's or owner's Securities within 30 days of receipt of notice of the Company's election or such earlier date as may be requested or prescribed by such Gaming Authority, or (ii) to redeem within such 30-day or earlier period requested or prescribed by such Gaming Authority the Securities of such Holder or owner at a redemption price equal to the lesser of (A) 100% of the Principal Amount thereof or (B) the price at which such Holder or owner acquired the Securities, together, in either case, with accrued interest to the earlier of the redemption date or the date of the failure of compliance, which may be less than 30 days following the notice of redemption if so requested or prescribed by such Gaming Authority. The Company shall notify the Trustee in writing of any such redemption as soon as practicable. The Company shall not be responsible for any costs or expenses any such Holder or owner may incur in connection with its application for a license, qualification or finding of suitability.
Redemption Pursuant to Gaming Laws a. If the ownership of this Note by any person or entity will preclude, interfere with, threaten or delay the issuance, maintenance, existence or reinstatement of any gaming or liquor license, or permit or approval of any Gaming Authority, or result in the imposition of burdensome terms or conditions on such license, permit or approval, as determined by any Governmental Authority or the general partner of the Company (including, without limitation, such Holder failing to qualify or to be found suitable under applicable Gaming Laws), such Holder shall be obligated, at the request of the Company, to dispose of this Note (subject to any restrictions on the transfer of this Note set forth herein or otherwise provided by applicable law and subject to any approvals by any Gaming Authority that may be required) within thirty (30) days (or such other time period required by any Gaming Authority) after receipt of notice of such determination by any Governmental Authority or the general partner (in which event the Company shall have no obligation to pay any interest to such Holder), and if this Note is not so disposed of within the required period, the Company shall have the right to redeem such Holder's Note at a redemption price equal to the principal amount of this Note, without accrued interest, if any. Any Holder or beneficial owner of this Note that is required to qualify or be found suitable under applicable Gaming Laws must pay all investigative fees and costs of the Gaming Authorities in connection with such application therefor.
Redemption Pursuant to Gaming Laws. If any Gaming Authority requires that a Holder or Beneficial Owner of Notes be licensed, qualified or found suitable under any applicable Gaming Law and such Holder or Beneficial Owner:
Redemption Pursuant to Gaming Laws. (a) If required to qualify by the Casino Control Commission, all Holders, whether initial Holders or subsequent transferees, shall be subject to the qualification provisions of the Casino Control Act relating to financial sources and/or security holders. In the event that the Casino Control Commission determines that a Holder is not qualified under the Casino Control Act and/or such Holder fails to submit for qualification as required by the Casino Control Commission in its sole discretion, the Company shall have the absolute right and obligation to purchase from such Holder (the "Disqualified Holder") the Securities the Disqualified Holder may then possess, either directly, indirectly or beneficially, no later than
Redemption Pursuant to Gaming Laws. Notwithstanding any other provision of this Indenture, the Notes shall also be redeemable at any time pursuant to, and in accordance with, any order of any Gaming Authority with appropriate jurisdiction and authority, or to the extent necessary in the reasonable, good faith judgment of the Board of Directors of the Company to prevent the loss or material impairment or secure the reinstatement of any Gaming License or to prevent such Gaming Authority from taking any other action, which if lost, impaired, not reinstated or taken, as the case may be, would have a material adverse effect on the Company or any Guarantor, or where such redemption or acquisition is required because the holder or beneficial owner of such security redeemed or acquired is required to qualify, be found suitable, or become licensed as such under such Gaming Laws and such holder or beneficial owner refuses to, or does not so qualify, obtain a finding of suitability or become licensed (a "Required Regulatory Redemption") . If the Company requires the redemption of any Security pursuant to this Section 3.2, then the redemption price shall be the principal amount thereof, plus accrued interest to the date of such determination of unsuitability. The Company shall tender the redemption price (together with any accrued and unpaid interest) to the Trustee no later than thirty (30) days after the Company gives the Securityholder or owner of a beneficial or voting interest written notice of redemption or such earlier date as may be ordered by any Gaming Authority. The Company shall notify the Trustee of any disposition or redemption required under this Section 3.2, and upon receipt of such notice, the Trustee shall not accord any rights or privileges under this Indenture or any Security to any Securityholder or owner of a beneficial or voting interest who is required to dispose of any Security or tender it for redemption, except to pay the redemption price (together with any accrued but unpaid interest) upon tender of such Security.
Redemption Pursuant to Gaming Laws. Section 3.3
