Licensing; Compliance Program Clause Samples

Licensing; Compliance Program. At such time that the Company holds a Gaming License or is the holder of an interest or shares in an entity that holds a Gaming License, the Members and their respective Affiliates, owners, directors, managers, officers, employees, and agents will be subject to applicable Gaming Laws and to the licensing and regulatory control of Gaming Authorities. Each record owner of any interest in the Company is required to comply with all applicable Gaming Laws. Each Member acknowledges that, in order for the Company to carry on its business or to own an interest in an entity that conducts a gaming business, each Member, its Affiliates, and such Member’s and its Affiliates’ respective owners, directors, managers, officers, employees, and agents (“Related Parties”) may be required to submit personal history and financial information to, and be licensed or found suitable by, Gaming Authorities in any jurisdiction related to the business or affairs of the Company, any Member, or any direct or indirect owner of an interest in a Member. If required by any Gaming Authority, each Member shall and shall cause its respective Related Parties to, promptly submit such personal history and financial history, cooperate in any investigation and diligently seek a license or finding of suitability. Each Member shall be responsible for paying or causing to be paid all of its and its Related Parties’ costs and expenses in connection with obtaining, attempting to obtain or retaining a Gaming License. Each Member further acknowledges that Pinnacle maintains the Pinnacle Compliance Program for purposes related to gaming and related licensing matters and agrees to cooperate and to cause its respective Affiliates, owners, directors, managers, officers, employees, and agents to cooperate with the Pinnacle Compliance Program.