Licensing Event. (a) With respect to Tenant, (i) a communication (whether oral or in writing) by or from any Gaming Authority to Tenant or Tenant’s Affiliates (each, a “Tenant Party”) or to a Landlord Party (as defined below) or other action by any Gaming Authority that indicates that such Gaming Authority has found or is likely to find that the association of a Tenant Party with Landlord is likely to (A) result in a disciplinary action relating to, or the loss of, inability to reinstate or failure to obtain, any Gaming License or any other rights or entitlements held or required to be held by Landlord or any of its Affiliates (each, a “Landlord Party”) under any Gaming Regulations or (B) violate any Gaming Regulations to which a Landlord Party is subject; or (ii) a Tenant Party is required to be licensed, registered, qualified or found suitable under any Gaming Regulations, and such Tenant Party does not remain so licensed, registered, qualified or found suitable or, after becoming so licensed, registered, qualified or found suitable, fails to remain so, and, solely for purposes of determining whether a Tenant Event of Default has occurred under Section 16.1(i), the same causes cessation of Gaming activity at the Facility and would reasonably be expected to have a material adverse effect on the Facility taken as a whole); and
Licensing Event. A communication (whether oral or in writing) by or from any Gaming Authority to Tenant or any of its Affiliates (each, a “Tenant Party”) or to a Landlord Party (as defined below) or other action by any Gaming Authority that indicates that (i) such Gaming Authority has found that the association of a Tenant Party with Landlord is likely to (A) result in a disciplinary action relating to, or the loss of, inability to reinstate or failure to obtain, any Gaming License or any other rights or entitlements held or required to be held by Landlord or any of its Affiliates (each, a “Landlord Party”) under any Gaming Regulations or (B) violate any Gaming Regulations to which a Landlord Party is subject; or (ii) a Tenant Party is required to be licensed, registered, qualified or found suitable under any Gaming Regulations, and such Tenant Party does not remain so licensed, registered, qualified or found suitable or, after becoming so licensed, registered, qualified or found suitable, fails to remain so, and, solely for purposes of determining whether an Event of Default has occurred under Section 16.1(a)(xii), the same causes cessation of Gaming activity at any Facility and would reasonably be expected to have a material adverse effect on any Facility.
Licensing Event means the entrance into a licensing, commercialization, corporate collaboration or similar monetization agreement entered into by Borrower or any of its Subsidiaries, on or before January 15, 2019, pursuant to which Borrower must receive an upfront and/or milestone cash payments in the aggregate amount of at least Six Million Dollars ($6,000,000.00) on or before January 15, 2019, and which agreement must be in such form and substance as is reasonably satisfactory to the Bank.
Examples of Licensing Event in a sentence
In such event, the Party with respect to which such Licensing Event has occurred, shall and shall cause any applicable Affiliates to use commercially reasonable efforts to resolve such Licensing Event within the time period required by the applicable Gaming Authorities by submitting to investigation by the relevant Gaming Authorities and cooperating with any reasonable requests made by such Gaming Authorities (including filing requested forms and delivering information to the Gaming Authorities).
If the Party with respect to which such Licensing Event has occurred cannot otherwise resolve the Licensing Event within the time period required by the applicable Gaming Authorities and any aspect of such Licensing Event is attributable to any Person(s) other than such Party, then such Party shall disassociate with the applicable Persons to resolve the Licensing Event.
If there shall occur a Licensing Event, then the Party with respect to which such Licensing Event occurs shall notify the other Party, as promptly as practicable after becoming aware of such Licensing Event (but in no event later than twenty (20) days after becoming aware of such Licensing Event).
It shall be a material breach of this Lease by Landlord if a Licensing Event with respect to Landlord shall occur and is not resolved in accordance with this Section 41.13 within the later of (i) thirty (30) days or (ii) such additional time period as may be permitted by the applicable Gaming Authorities.
If there shall occur a Licensing Event, then the Party with respect to which such Licensing Event occurs shall notify the other Parties, as promptly as practicable after becoming aware of such Licensing Event (but in no event later than twenty (20) days after becoming aware of such Licensing Event).
More Definitions of Licensing Event
Licensing Event means a License, assignment or sale to a Non-Party of any of the Natriuretic Peptide Patents. For purposes of clarity, a Change of Control of Capricor shall not constitute a sale or assignment of the Natriuretic Peptide Patents, nor a Licensing Event.
Licensing Event means (i) a recommendation by the Nevada State Gaming Control Board to the Nevada Gaming Commission that the
Licensing Event means (i) a communication (whether oral or in writing) by or from any Gaming Authority to Licensor or any of its Affiliates or other action by any Gaming Authority that indicates that such Gaming Authority is likely to find that the association of any member of the Licensee Subject Group with Licensor or any of its Affiliates is likely to (x) result in a disciplinary action relating to, or the loss of, inability to reinstate or failure to obtain, any registration, application or license or any other rights or entitlements held or required to be held by Licensor or any of its Affiliates under any Gaming Law, or (y) violate any Gaming Law to which Licensor or any of its Affiliates is subject; or (ii) any member of the Licensee Subject Group is required to be licensed, registered, qualified or found suitable under any Gaming Law, and such Person is not or does not remain so licensed, registered, qualified or found suitable within any applicable timeframes required by the applicable Gaming Authority, or, after becoming so licensed, registered, qualified or found suitable, fails to remain so. For purposes of this definition, an “Affiliate” of Licensor includes any Person for which Licensor or its Affiliate is providing management services. For the avoidance of doubt, it shall not be a Licensing Event if (A) Licensee can resolve or cure the Licensing Event within applicable timeframes (for purposes of illustration and not limitation, by terminating any responsible employee) and (B) Licensee acts timely to cure the Licensing Event.
Licensing Event means: (a) a communication (whether oral or in writing) by or from any Gaming Authority to Manager or any of its Affiliates or Owner or other action by any Gaming Authority that indicates that such Gaming Authority may find that the association of any member of the Subject Group with Manager or any of its Affiliates or the Transferring Manager or any of its Affiliates is likely to (i) result in a disciplinary action relating to, or the loss of, inability to reinstate or failure to obtain, any registration, application or license or any other rights or entitlements held or required to be held by Manager or any of its Affiliates or Transferring Manager or any of its Affiliates under any Gaming Law or (ii) violate any Gaming Law to which Manager or any of its Affiliates or Transferring Manager or any of its Affiliates is subject; or (b) any member of the Subject Group is required to be licensed, registered, qualified or found suitable under any Gaming Law, and such Person is not or does not remain so licensed, registered, qualified or found suitable or, after becoming so licensed, registered, qualified or found suitable, fails to remain so. For purposes of this definition, an “Affiliate” of Manager includes any Person for which Manager or its Affiliate is providing management services (other than Owner and its Affiliates).
Licensing Event means: (a) a communication (whether oral or in writing) by or from any Gaming Authority to Manager or any of its Affiliates or Owner or other action by any Gaming Authority that indicates that such Gaming Authority may find that the association of any member of the Subject Group with Manager or any of its Affiliates is likely to (i) result in a disciplinary action relating to, or the loss of, inability to reinstate or failure to obtain, any registration, application or license or any other rights or entitlements held or required to be held by Manager or any of its Affiliates under any Gaming Law or (ii) violate any Gaming Law to which Manager or any of its Affiliates is subject; or (b) any member of the Subject Group is required to be licensed, registered, qualified or found suitable under any Gaming Law, and such Person is not or does not remain so licensed, registered, qualified or found suitable or, after becoming so licensed, registered, qualified or found suitable, fails to remain so. For the avoidance of doubt, a Maryland Licensing Event is a Licensing Event.
Licensing Event means Borrower’s delivery to Collateral Agent and Lenders prior to March 1, 2019, of evidence, in form and substance satisfactory to Collateral Agent and Lenders, of Borrower’s execution of a licensing agreement, on terms and conditions satisfactory to Collateral Agent and Lenders.
Licensing Event means the receipt by the Rock Stockholder, Caesars, the Parent or the Company of a communication (whether verbal or in writing) from any Gaming Authority or other action by any Gaming Authority that indicates that such Gaming Authority may (i) find the Rock Stockholder unsuitable to hold a gaming license or permit required by the Company for its business or proposed business, or be associated with a gaming licensee or permit holder with respect to the Company’s business or proposed business if it is a gaming licensee, or (ii) deny, revoke or materially impair any gaming license or permit held by or applied for by the Company due to the ownership of Company Shares by the Rock Stockholder.