Exhibit 10.15
SUBLEASE ASSIGNMENT
THIS SUBLEASE ASSIGNMENT AGREEMENT, made and entered into effective as of
July 15, 1999 (the "Effective Date"), by and between Greater Dubuque Riverboat
Entertainment Company, L.C., an Iowa limited liability company, (hereinafter
called the "Assignor"), and Peninsula Gaming Company, LLC, a Delaware limited
liability company (hereinafter called "Assignee").
1. SUBLEASE. Assignor and Assignee acknowledge that Assignor is lessee
under a certain Sublease dated October 18, 1993, by and between Dubuque Racing
Association, Ltd. ("Lessor") and Greater Dubuque Riverboat Entertainment
Company, L.C. ("Lessee"), as amended by a certain First Amendment to Sublease
Agreement dated July ___,1999, for certain parking and dock facilities located
in the Ice Harbor area in Dubuque, Iowa (the "Sublease").
2. ASSIGNMENT. As of the Effective Date, Assignor hereby sells, assigns,
transfers and conveys unto Assignee, its successors and assigns, all of
Assignor's right, title and interest in and to the Sublease. By its execution
hereof, Assignee agrees to assume and be bound by and timely perform, observe,
discharge and otherwise comply with each and every one of Assignor's duties,
obligations, covenants and undertakings under the Sublease accruing on or after
the Effective Date.
3. INDEMNIFICATION. Assignor covenants to hold Assignee harmless from and
indemnify Assignee against any claim, loss, damage, cost and expense (including
reasonable attorneys' fees and court costs) that Assignee may incur from and
after the Effective Date as a result of the failure of Assignor to perform any
of its obligations as lessee with respect to the Sublease up to the Effective
Date. Assignee covenants to hold Assignor harmless from and indemnify Assignor
against any claim, loss, damage, cost or expense (including reasonable
attorneys' fees and court costs) that Assignor may incur from and after the
Effective Date as a result of the failure of Assignee to perform any of its
obligations with respect to the Sublease from and after the Effective Date.
4. ASSIGNMENT AND SUBLETTING. Assignor and Assignee acknowledge that
Lessor's consent to this Assignment does not constitute a waiver of Lessor's
right to require approval of any further assignment or subletting, in accordance
with the Sublease.
5. GOVERNING LAW. This Assignment shall be governed by and construed under
the laws of the State of Iowa.
6. BINDING EFFECT. The terms of this Assignment shall run with the land
and bind the parties hereto and their successors in interest.
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7. MODIFICATION. This Assignment shall not be modified except if done in
writing and signed by both parties.
8. CONDITION PRECEDENT. The obligations of Assignor and Assignee under
this Assignment are subject to the closing of the sale and purchase by Assignee
of substantially all of the assets of Assignor pursuant to that certain Asset
Purchase and Sale Agreement, dated January 15, 1999, between Assignor and
Assignee.
IN WITNESS WHEREOF, the parties hereto have executed this Assignment as of
the day and year first above written.
Peninsula Gaming Company, L.L.C. Greater Dubuque Riverboat
Entertainment Company, L.C.
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxx Xxxxxxx
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Its: Its: Chairman, Management Committee
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ASSIGNEE ASSIGNOR
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CONSENT
Dubuque Racing Association, Ltd. ("DRA"), lessor under that certain
Sublease dated October 18, 1993, as amended, with Greater Dubuque Riverboat
Entertainment Company, L.C., for certain parking and dock facilities located in
the Ice Harbor area in Dubuque, Iowa, hereby consents to the assignment of the
Sublease by Greater Dubuque Riverboat Entertainment Company, L.C. to Peninsula
Gaming Company, LLC ("Assignee"). Further, DRA is not aware of any current
default on the Sublease nor is DRA aware of any condition which would lead to a
default.
DUBUQUE RACING ASSOCIATION, LTD.
By: /s/ Xxx Xxxxxx Date Signed: 7-15-99
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Its: President
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Acknowledged and consented to by:
CITY OF DUBUQUE, IOWA
By:_____________________________
Its:____________________________
CONSENT
Dubuque Racing Association, Ltd. ("DRA"), lessor under that certain
Sublease dated October 18, 1993, as amended, with Greater Dubuque Riverboat
Entertainment Company, L.C., for certain parking and dock facilities located in
the Ice Harbor area in Dubuque, Iowa, hereby consents to the assignment of the
Sublease by Greater Dubuque Riverboat Entertainment Company, L.C. to Peninsula
Gaming Company, LLC ("Assignee"). Further, DRA acknowledges said Sublease is
currently not in default nor is DRA aware of any condition which would lead to a
default.
DUBUQUE RACING ASSOCIATION, LTD.
By: Date Signed:
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Its:
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Acknowledged and consented to by:
CITY OF DUBUQUE, IOWA
By: /s/ Xxxxx Xxxxxx
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Its: Mayor
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