Common use of Certainty Clause in Contracts

Certainty. The Parties acknowledge that they have entered into this Agreement and the Interim Agreement, and that the Province has made amendments to the Gaming Control Act to establish the Annual Revenue Sharing Entitlement in each year of the Term with the intent of providing a consistent, stable, long-term source of funding to First Nations. The Parties have committed, in the event of a Change Event, to the principle (the “Principle of First Nations Gaming Revenue Sharing”) of preserving and maintaining the certainty of a revenue stream to BC First Nations equivalent to the revenue stream that would have been generated by the annual receipt of the Annual Gaming Revenue Entitlement over the Term if the Change Event had not occurred. Recognizing the potential for change in gaming activity and its regulation during the Term, including changes in the nature of gaming activity and changes in the manner in which the Province receives revenues from gaming, the Parties have set out in this Article 12 the Consultative Process through which they will work together to understand the impacts of any such changes on the revenue stream generated over the Term by the Annual Revenue Sharing Entitlement and seek to‌ reach agreement on ways to maintain the Principle of First Nations Gaming Revenue Sharing.