Common use of Licensing Requirement Clause in Contracts

Licensing Requirement. ▇▇▇▇▇▇▇ has represented to LVSI that he is presently licensed by the New Jersey Casino Control Commission. The parties acknowledge that, in order to discharge the duties required under this Agreement and to hold the Options provided for herein, ▇▇▇▇▇▇▇ must apply for and obtain a casino key employee and equity holder license ("the License") issued by the Nevada Gaming Commission upon the recommendation of the state Gaming Control Board (collectively, the "Nevada Gaming Authorities"), pursuant to the provisions of applicable Nevada laws and regulations. LVSI and ▇▇▇▇▇▇▇ agree to cooperate with the Nevada Gaming Authorities, the Board and with each other in applying for the License and in removing any objections that may be raised by the Nevada Gaming Authorities in connection with the granting of the License. If the Nevada Gaming Authorities shall refuse to grant the License to ▇▇▇▇▇▇▇, then this Agreement shall terminate and neither LVSI nor ▇▇▇▇▇▇▇ shall have any further obligation hereunder.

Licensing Requirement. ▇▇▇▇▇▇▇▇▇ has represented to LVSI that he is presently ispresently licensed by the New Jersey Casino Control Commission. The parties acknowledge that, in order to discharge the duties required under this Agreement and to hold the Options provided for herein, ▇▇▇▇▇▇▇▇▇ must apply for and obtain a casino key employee and equity holder license ("the License") issued by the Nevada Gaming Commission upon the recommendation of the state Gaming Control Board (collectively, the "Nevada Gaming Authorities"), pursuant to the provisions of applicable Nevada laws and regulations. LVSI and ▇▇▇▇▇▇▇▇▇ agree to cooperate with the Nevada Gaming Authorities, the Board and with each other in applying for the License and in removing any objections that may be raised by the Nevada Gaming Authorities in connection with the granting of the License. If the Nevada Gaming Authorities shall refuse to grant the License to ▇▇▇▇▇▇▇▇▇, then this Agreement shall terminate and neither LVSI nor ▇▇▇▇▇▇▇▇▇ shall have any further obligation hereunder.