Interim Operations; Receivership Sample Clauses

Interim Operations; Receivership. Landlord and the City acknowledge and agree that in the event a Leasehold Mortgagee is exercising its rights to obtain possession and continue the operation of the Development, the LGCB requires the Casino to be operated by an approved receiver until the receivership is terminated. Landlord and the City agree that any receiver approved by the LGCB is permitted to so operate the Casino in accordance with the terms of this Lease, subject to the applicable provisions of the Act and the rules and regulations promulgated thereunder.