Common use of Co-Borrowers Clause in Contracts

Co-Borrowers. Atlantic City and Detroit are each hereby designated as joint and several direct Co-Borrowers under this Agreement, with the right to request Loans, subject to the terms and conditions set forth herein, provided that (a) each Loan made hereunder to Atlantic City, Detroit or any other Co-Borrower shall be used solely and directly to finance the development, construction or operation of hotel/casino properties owned by that Co-Borrower, and (b) the liability of Detroit is limited to that portion of the Obligations which are used, directly or indirectly, to finance the design, development, construction or operation of the Detroit Project or which are actually borrowed or received by Detroit. From time to time following the Closing Date, Borrower may designate one or more Guarantors to be joint and several direct Co-Borrowers hereunder by written request to the Administrative Agent accompanied by (a) an executed Assumption Agreement and Notes executed by the designated Guarantor, (b) a certificate of good standing of the designated Guarantor in the jurisdiction of its incorporation, (c) a certified corporate authority resolution covering the execution and delivery of the Assumption Agreement and Notes, (d) a written consent to the Assumption Agreement executed by each other Guarantor, and (e) an appropriate written legal opinion similar to the Opinions with respect to the Co-Borrower and the Assumption Agreement. The Administrative Agent shall promptly notify the Banks of such request, together with copies of such of the foregoing as any Bank may request and the designated Guarantor shall become a Co-Borrower hereunder.

Co-Borrowers. Atlantic City and Detroit are each hereby ------------ designated as joint and several direct Co-Borrowers under this Agreement, with the right to request Loans, subject to the terms and conditions set forth herein, provided that (a) each Loan made hereunder to Atlantic City, Detroit or -------- ---- any other Co-Borrower shall be used solely and directly to finance the development, construction or operation of hotel/casino properties owned by that Co-Borrower, and (b) the liability of Detroit is limited to that portion of the Obligations which are used, directly or indirectly, to finance the design, development, construction or operation of the Detroit Project or which are actually borrowed or received by Detroit. From time to time following the Closing Date, Borrower may designate one or more Guarantors to be joint and several direct Co-Borrowers hereunder by written request to the Administrative Agent accompanied by (a) an executed Assumption Agreement and Notes executed by the designated Guarantor, (b) a certificate of good standing of the designated Guarantor in the jurisdiction of its incorporation, (c) a certified corporate authority resolution covering the execution and delivery of the Assumption Agreement and Notes, (d) a written consent to the Assumption Agreement executed by each other Guarantor, and (e) an appropriate written legal opinion similar to the Opinions with respect to the Co-Borrower and the Assumption Agreement. The Administrative Agent shall promptly notify the Banks of such request, together with copies of such of the foregoing as any Bank may request and the designated Guarantor shall become a Co-Borrower hereunder.

Co-Borrowers. Atlantic City and Detroit are each is hereby designated as joint and several a direct Co-Borrowers Borrower under this Agreement, with the right to request Loans, Swing Line Loans and Letters of Credit through the Administrative Agent directly from the Lenders, the Swing Line Lenders and the Issuing Lenders, subject to the terms and conditions set forth herein. From time to time following the Closing Date, provided that Borrower may designate one or more Guarantors which are United States domestic Persons to be additional joint and several direct Co-Borrowers hereunder by written request to the Administrative Agent accompanied by (a) an executed Assumption Agreement and appropriate Notes executed by the designated Guarantor, (b) a certificate of good standing of the designated Guarantor in the jurisdiction of its incorporation or organization, (c) a certified resolution authorizing the execution and delivery of the Assumption Agreement and such Notes, (d) a written consent to the Assumption Agreement executed by each other Guarantor, and (e) appropriate written legal opinions similar to the Opinions with respect to the Co-Borrower and the Assumption Agreement. The Administrative Agent shall promptly notify the Lenders of such request, together with copies of such of the foregoing as any Lender may request and the designated Guarantor shall become a Co-Borrower hereunder. Notwithstanding the other provisions of this Section 2.7, (a) each Loan and Letter of Credit made hereunder to Atlantic City, Detroit or any other Co-Borrower shall be used solely and directly to finance and/or refinance the development, construction or operation of hotel/casino properties owned by that Co-Borrower, and (b) the liability of Detroit is limited to that portion of the Obligations which are used, directly or indirectly, to finance the design, development, construction or operation of the Detroit Project or which are actually borrowed or received by Detroit. From time to time following the Closing Date, Borrower may designate one or more Guarantors to be joint and several direct Co-Borrowers hereunder by written request to the Administrative Agent accompanied by (a) an executed Assumption Agreement and Notes executed by the designated Guarantor, (b) a certificate of good standing of the designated Guarantor in the jurisdiction of its incorporation, (c) a certified corporate authority resolution covering the execution and delivery of the Assumption Agreement and Notes, (d) a written consent to the Assumption Agreement executed by each other Guarantor, and (e) an appropriate written legal opinion similar to the Opinions with respect to the Co-Borrower and the Assumption Agreement. The Administrative Agent shall promptly notify the Banks of such request, together with copies of such of the foregoing as any Bank may request and the designated Guarantor shall become a Co-Borrower hereunder.

Co-Borrowers. Atlantic City and Detroit are each is hereby designated as a joint and ------------ several direct Co-Borrowers Borrower under this Agreement, with the right to request LoansLoans and Letters of Credit through the Administrative Agent directly from the Banks and the Issuing Bank, subject to the terms and conditions set forth herein, provided that (a) each Loan and Letter of Credit made hereunder to Atlantic City, Detroit City or -------- ---- any other Co-Borrower shall be used solely and directly to finance the development, construction or operation of hotel/casino properties owned by that Co-Borrower, and (b) the liability of Detroit is limited to that portion of the Obligations which are used, directly or indirectly, to finance the design, development, construction or operation of the Detroit Project or which are actually borrowed or received by Detroit. From time to time following the Closing Date, Borrower may designate one or more Guarantors to be joint and several direct Co-Borrowers hereunder by written request to the Administrative Agent accompanied by (a) an executed Assumption Agreement and Notes executed by the designated Guarantor, (b) a certificate of good standing of the designated Guarantor in the jurisdiction of its incorporation, (c) a certified corporate authority resolution covering the execution and delivery of the Assumption Agreement and Notes, (d) a written consent to the Assumption Agreement executed by each other Guarantor, and (e) an appropriate written legal opinion similar to the Opinions with respect to the Co-Borrower and the Assumption Agreement, provided that in -------- the event that Borrower designates Detroit as an additional Co-Borrower, the liability of Detroit shall be limited to that portion of the Obligations which are used, directly or indirectly, to finance the design, development, construction or operation of the Detroit Project or which are actually borrowed or received by Detroit. The Administrative Agent shall promptly notify the Banks of such request, together with copies of such of the foregoing as any Bank may request and the designated Guarantor shall become a Co-Borrower hereunder.

Co-Borrowers. Atlantic City and Detroit are each is hereby designated as joint and several a direct Co-Borrowers Borrower under this Agreement, with the right to request LoansLoans and Letters of Credit through the Administrative Agent directly from the Lenders and the Issuing Lender, subject to the terms and conditions set forth herein, provided that (a) each Loan and Letter of Credit made hereunder to Atlantic City, Detroit or any other Co-Borrower shall be used solely and directly to finance the development, construction or operation of hotel/casino properties owned by that Co-Borrower, and (b) the liability of Detroit is limited to that portion of the Obligations which are used, directly or indirectly, to finance the design, development, construction or operation of the Detroit Project or which are actually borrowed or received by Detroit. From time to time following the Closing Date, Borrower may designate one or more Guarantors which are United States domestic Persons to be additional joint and several direct Co-Borrowers hereunder by written request to the Administrative Agent accompanied by (a) an executed Assumption Agreement and appropriate Notes executed by the designated Guarantor, (b) a certificate of good standing of the designated Guarantor in the jurisdiction of its incorporation, (c) a certified corporate authority resolution covering the execution and delivery of the Assumption Agreement and such Notes, (d) a written consent to the Assumption Agreement executed by each other Guarantor, and (e) an appropriate written legal opinion similar to the Opinions with respect to the Co-Borrower and the Assumption Agreement. The Administrative Agent shall promptly notify the Banks Lenders of such request, together with copies of such of the foregoing as any Bank Lender may request and the designated Guarantor shall become a Co-Borrower hereunder.