DIIC definition
Examples of DIIC in a sentence
Seller will pay for or cause to be paid for (but not by DIIC) any water purchased by DIIC prior to the Closing which is not paid for by DIIC prior to the Closing.
The Company hereby authorizes the Disbursement Agent to complete the recording information from the Bank DIIC Deed of Trust and the Second Mortgage Notes DIIC Deed of Trust) and to file them with the Nevada State Engineer promptly after recordation of such Deeds of Trust, together with a Report of Conveyance and Abstract of Title for each permit.
Except as set forth on the Reports, to the knowledge of Sellers, no Hazardous Materials (i) are located on, at, in, under or about any of the Real Property Assets, the DIIC Land or the Timeshare Lots or (ii) have been disposed of, or Released, to, from or at any portion of the Real Property Assets, the DIIC Land or the Timeshare Lots which would be reasonably likely to have a Material Adverse Effect.
The parties hereto acknowledge that DIIC is a "Public Utility" in accordance with the provisions of NRS Sections 704.020 and 704.329 and sale and transfer of the DIIC Shares, which constitutes more than twenty-five percent of the outstanding shares of DIIC, requires prior authorization of the Nevada Public Utilities Commission ("PUC").
The DIIC Shares and the Interests constitute all the authorized, issued and outstanding shares of capital stock of, or other ownership interests in, the Companies.
To the Knowledge of the Sellers, true, complete and correct copies of all material written environmental reports, audits, investigations or assessments which have been conducted within the last five (5) years and which are in the possession of any Sellers in respect of the Real Property Assets, the DIIC Land or the Timeshare Lots and the Business, by any attorney, environmental consultant, engineer or other third party engaged for such purpose, have been made available to Purchaser ("Reports").
Sellers and DIIC shall use commercially reasonable efforts to preserve existing water rights appurtenant to the Real Property Assets or the DIIC Land and/or owned by SDIC or DIIC.
Concurrently with the Closing, Parent shall be entitled to record a memorandum of this Section 5.7 against the Real Property Assets, DIIC Land and the Timeshare Lots.
This Agreement Regarding the Provision and Use of Water (the "Agreement") is entered into effective this 21st day of October, 2002, by and among Desert Inn Improvement Company, a Nevada corporation ("DIIC"), Wynn Resorts Holdings, LLC, a Nevada limited liability company ("Holdings") and Wynn Las Vegas, LLC, a Nevada limited liability company ("▇▇▇▇ Las Vegas") (Holdings and ▇▇▇▇ Las Vegas shall be collectively referred to herein as ("Wynn').
The Real Property Assets constitute all real property owned or leased by the Sellers, the Starwood Timeshare Lots constitute all the real property owned or leased by Starwood Timeshare, the DI Timeshare Lots constitute all the real property owned or leased by DI Timeshare and the DIIC Land constitutes all the real property owned or leased by DIIC.