Common use of Payment Acknowledgement Clause in Contracts

Payment Acknowledgement. 2.2.1 The Special Warrant Agent will acknowledge by a separate receipt the wire transfer, bank draft or certified cheque from the Underwriters, on behalf of each of the Special Warrantholders of the Offering Proceeds and confirms that such funds have been deposited in a segregated account in the name of the Special Warrant Agent designated as the “▇▇▇▇▇ Gaming Group Inc.—Special Warrants” or as otherwise directed by the Corporation and the Underwriters and will be used, invested and segregated in accordance with Article 6 hereof. 2.2.2 The Corporation hereby acknowledges that all amounts received by the Special Warrant Agent pursuant to Section 2.2.1 in accordance with the Corporation’s direction to the Underwriters, represents payment in full by the Special Warrantholders of the aggregate Issue Price for the Special Warrants and irrevocably directs the Special Warrant Agent to retain the amounts referred to in Section 2.2.1 in accordance with the terms of this Indenture pending payment of such amounts in accordance with the terms of this Indenture.