Video Lottery Terminals Sample Clauses

Video Lottery Terminals. If (i) any particular gaming jurisdiction in which Spectre has placed video-redemption games in operation subsequently legalizes VLTs, as defined below, and (ii) no other third party has at that time been granted rights to any of the Games/Content licensed hereunder for utilization in VLT gaming devices in that jurisdiction, then Spectre shall thereupon have the exclusive right to license the Games/Content for such VLT use from G3 for commercial exploitation in that jurisdiction. Any such rights received by Spectre pursuant to this paragraph will be subject to the parties’ mutual written agreement to a royalty model. If the condition set forth in clause (ii) above is not met because G3 shall have previously granted rights to the applicable portion of the Games/Content licensed hereunder for utilization in VLT gaming devices to another party, then G3 will substitute like Content in like quantity for Spectre’s use, assuming the parties can agree on a royalty rate for such use.
Sample 1
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Video Lottery Terminals. If (i) any particular gaming jurisdiction in which Spectre has placed video-redemption games in operation subsequently legalizes VLTs, as defined below, and (ii) no other third party has at that time been granted rights to any of the Games/Content licensed hereunder for utilization in VLT gaming devices in that jurisdiction, then Spectre shall thereupon have the exclusive right to license the Games/Content for such VLT use from G3 for commercial exploitation in that jurisdiction. Any such rights received by Spectre pursuant to this paragraph will be subject to the parties’ mutual written agreement to a royalty model. If the condition set forth in clause (ii) above is not met because G3 shall have previously granted rights to the applicable portion of the Games/Content licensed hereunder for utilization in VLT gaming devices to another party, then G3 will substitute like Content in like quantity for Spectre’s use, assuming the parties can agree on a royalty rate for such use. For purposes hereof, “VLT” means a video or electromechanical game of skill or chance that accepts xxxxxx, sponsored by an agency of a state government and controlled by such state’s lottery, and is classified by the applicable state agency as a “video lottery terminal.”
Sample 1

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