JACKPOT Sample Clauses

JACKPOT. 13.1 A monetary prize of fixed or gradually increasing value is awarded to the Players, in case an event constituting a JACKPOT derives from the random number generator.
Sample 1
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JACKPOT. Winners shall have the option of receiving the net present value of the progressive meter in cash or 25 equal annual installments equivalent to 1/25 of the progressive meter subject to approval by the Nevada Gaming Control Board. 6.
Sample 1
JACKPOT. When the lottery pool hits the jackpot, the winning ticket(s) will reside in a bank safe-deposit box until the attorneys/accountants selected by the Pool Manager have drawn up a group incorporation or trust agreement and it is endorsed and signed by the entire group. If no agreement has been reached by the expiration date to claim prize, the winning ticket(s) will be turned into the lottery commission and all funds will be held in a trust till final arbitrations are concluded. Attorney and Accountants Fees plus any taxes, or other fees or fines shall be paid from these funds. TAX IMPLICATIONS Should collecting a prize distribution cause Income Tax or other Tax consequences for the Pool Manager, Players agree to allow the Pool Manager to use the winnings to first pay such taxes and then distribute the remaining amount to the Players. Or, at the Pool Manager’s discretion, Players agree to form a blind trust or other legally-recognized entity for the purposes of accepting and distributing winnings to the Players. Costs for organizing and operating any such entity shall be paid from the winning prize and the remaining amount distributed to the Players. WITHDRAWAL FROM POOL Any player may withdraw from the pool by written notice to the lottery pool manager, or effectively withdrawing by not contributing to future Month’s pool funds, at which time their pool membership shall thereupon end, but shall remain in effect for the past games played as a pool. Should a player withdraw from the pool and choose to rejoin at a future date, a new agreement must be signed. No pro-rata refunds will be given, membership will continue until the end of the month paid.
Sample 1

Related to JACKPOT

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