License Revocation definition
License Revocation means the revocation, failure to renew or suspension of, or the appointment of a receiver, supervisor, conservator or similar official with respect to, any casino, gambling or gaming license issued by any Gaming Authority covering any casino or gaming facility of the Borrower or any of its Subsidiaries.
License Revocation means to prohibit the conduct authorized by the license.
License Revocation means (a) the revocation, involuntary failure to renew or suspension of any casino, gambling or gaming license issued by any Gaming Board covering any casino or gaming facility of Borrower, (b) the appointment by any Gaming Board of a receiver, supervisor or similar official with respect to any such gaming facility or (c) the involuntary closure of any such casino or gaming facility pursuant to an order of any Gaming Board.
Examples of License Revocation in a sentence
Any notice of proposed ------------------------------------------------- rulemaking or other proposal by the FCC as to the possible adoption of any rule or taking of any action that would be a C-Block General License Revocation Event or any other event or circumstance that with the passage of time would become a C-Block General License Revocation Event or that would be a C-Block General License Revocation Event but for the existence of any stay or injunction then in effect with respect thereto.
A License Revocation occurs and continues for three consecutive Business Days.
The provisions that are pertinent to Article 31bis paragraph 4 are 1(b) and 1(c).
The Loan Parties shall not, and shall not permit any of their respective Subsidiaries to, engage in any activity which would jeopardize any liquor, casino, gambling or gaming license held by the Loan Parties or which would cause a License Revocation.
This Agreement is intended by both parties to constitute a full, final and complete resolution of the Accusation in Support of License Revocation; Citations; Desist and Refrain Order; and Order Voiding Transactions and Disgorgement of all Charges and Excess Fees.
More Definitions of License Revocation
License Revocation means the loss, revocation, failure to renew, termination or suspension of any Gaming License issued by any Gaming Authority covering any Gaming Facility.
License Revocation means (i) the denial, revocation or suspension of any Material Nevada Governmental Approval of the Manager, ▇▇▇▇▇▇▇▇ Entertainment or any Loan Party by any Governmental Authority; or (ii) the filing of a disciplinary complaint by a Governmental Authority seeking the denial, revocation or suspension of any Material Nevada Governmental Approval of the Manager, ▇▇▇▇▇▇▇▇ Entertainment or any Loan Party; provided, that each of the Manager, ▇▇▇▇▇▇▇▇ Entertainment and the applicable Loan Parties shall have the greater of (a) ninety (90) days from the date of filing of such disciplinary complaint or (b) such time period as may be granted by the applicable Governmental Authority to cure any event or deficiency giving rise to the filing of such disciplinary complaint such that the complaint is dismissed or settled without a denial, revocation or suspension of such Material Nevada Governmental Approval. Notwithstanding any applicable cure period set forth in clause (ii) above, if a Material Nevada Governmental Approval of the Manager, ▇▇▇▇▇▇▇▇ Entertainment or any Loan Party is denied, revoked or suspended by any Governmental Authority, a “License Revocation” shall be deemed to have occurred on the effective date of such denial, revocation or suspension.
License Revocation means the revocation, failure to renew, denial or suspension of any Gaming Approval or Liquor License of the Borrower or any Restricted Subsidiary necessary for the ownership, use or operation of any Gaming Facility or MGM National Harbor, or the appointment of a trustee, receiver, conservator, supervisor or similar official with respect to any portion of any Gaming Facility, MGM National Harbor, any Borrower or any Restricted Subsidiary.
License Revocation means to rescind a license, thus barring conduct authorized by the license.
License Revocation means (a) the revocation, failure to renew or suspension of (x) any Gaming License of the Borrower or any other Loan Party or (y) the Gaming License of any other Person (other than a Secured Party) required to hold a Gaming License as a condition to any Gaming License of the Borrower or any other Loan Party if, in the case of preceding clause (x) or (y), such revocation, failure to renew or suspension could reasonably be expected to have a Material Adverse Effect (provided that nothing in this clause (a) shall be deemed a License Revocation to the extent and only for so long as any such revocation, failure to renew or suspension is subject to an appeal or proceedings for review in respect of which there shall be secured a subsisting stay of execution on such revocation, failure to renew or suspension pending such appeal or proceedings and the Loan Parties are permitted to continue to conduct their operations, taken as a whole and in all material respects, in the ordinary course of business (without any further material restrictions) during the pendency of any such appeal or proceeding for review) or (b) the appointment of a receiver, trustee or similar official by the Gaming Authorities with respect to any Loan Party or the Project.
License Revocation means the revocation, suspension, expiration without any previous or concurrent renewal, or loss of any Gaming License of any of the Companies for more than 60 days, in each case other than any voluntary relinquishment of a Gaming License if such relinquishment, in the reasonable good faith judgment of the Board of Directors of Borrower, evidenced by a resolution of such Board of Directors, is both desirable in the conduct of the business of Borrower and its Restricted Subsidiaries, taken as a whole, and would not in any material respect impair the Loan Parties’ ability to meet their obligations hereunder, or the appointment of a receiver, supervisor or similar official with respect to, any Gaming License or other casino, gambling or gaming license issued by any Gaming Authority covering any Gaming Facility owned, leased, operated or used by any of the Companies.
License Revocation means the loss, revocation, failure to renew, termination or suspension of any Gaming License issued by any Gaming Authority covering any Gaming Facility; provided, that the transfer of the capital stock of Empress Casino Joliet to the Trustee (as defined in the Transfer Agreement) pursuant to the terms of the Transfer Agreement shall not constitute a License Revocation.