MDDC definition
Examples of MDDC in a sentence
From and after the date of this Agreement, the Company and Marina District Development Company, LLC, a New Jersey limited liability company (“MDDC”), shall use their commercially reasonable efforts to, as promptly as reasonably practicable, apply for and obtain the approval of the New Jersey Division of Gaming Enforcement for MDDC to become a Subsidiary Guarantor and guarantee the Notes (the “New Jersey Approval”).
Upon receipt of the New Jersey Approval in respect of MDDC, the Company and Marina District Development Holding Co., LLC (“MDDHC”) shall also take the actions required to become a Subsidiary Guarantor and guarantee the Notes pursuant to the Indenture.
From and after the date on which any Subsidiary becomes a “Significant Subsidiary” MDDC will not permit such Subsidiary to issue any Capital Stock (whether for value or otherwise) to any Person other than MDDC or another Subsidiary of MDDC.
Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, MDDC or a Subsidiary, the Borrower shall be obligated to reimburse the L/C Issuer hereunder for any and all drawings under such Letter of Credit.
The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of MDDC and Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives substantial benefits from the businesses of MDDC and such Subsidiaries.
As of the Effective Date, MDDC has no Subsidiaries other than the Borrower.
Notwithstanding anything contained herein, in every instance MDDC shall be required to provide paper copies of the Compliance Certificates required by Section 6.02(b) to the Administrative Agent.
Except for such Compliance Certificates, the Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by MDDC with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents.
Upon receipt of the New Jersey Approval in respect of MDDC, the Company and MDDHC shall also take the actions required to become a Subsidiary Guarantor and guarantee the Notes pursuant to the Indenture.
New England 23 / Upstate NY 17 / New York Metro 40 / NJ 29 / North New England 31 / Ohio 23 / WV & WPA 20 / MD/DC 48 / SC 22 / VA 20 / LA 13 / AB 15 / S FL 13 / N FL 21 / C FL 21 / NC 33 / TN 6 / MS 8 / AR 9 / GA 47 / IL/WI 42 MI 10 / KY 4 / IN 11 / KS MO IA NE 25 / MN SD ND 14 / AZ 9 / CO 11 / ID MT 22 / UT 3 / TX 78 / N CA 31 / S CA 43 / WA HI 13 / OR 6 / NV 1 / for a total of 818 dealers.