Preferred guest definition

Preferred guest means any person, 21 years of age or older, who receives complimentary transportation, food, lodging, or other consideration with a retail price over $1,000 in any 7-day period from a licensed establishment as an inducement to gamble.]
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Preferred guest means any person, 21 years of age or older, who receives complimentary transportation, food, lodging, entertainment or other consideration with a retail price in excess of
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Preferred guest program information at the Desert Inn, the Atlantis Resort and the Ocean Club. Starwood shall continue to award points to its "Preferred Guest" program participants for stays at the Desert Inn, and as soon as practicable after the Effective Date under the Asset and Land Purchase Agreement, will award such points for stays at the Atlantis Resort and the Ocean Club at no cost to Buyer. The parties will discuss arrangements relating to the award of airline miles for stays at the properties. As soon as practicable after the Effective Date under the Asset and Land Purchase Agreement, Starwood's "Preferred Guest" program participants shall be entitled to redeem points for nights at the Atlantis Resort. Buyer shall be paid for each such night as follows: (i) if the resort's occupancy rate on such night was 80% or greater, Buyer shall be paid an amount equal to its average cash paid room rate in effect for such night; and (ii) if the resort's occupancy rate on such night was less than 80%, Buyer shall be paid $150 (with increases thereto pro rata with increases in the resort's average room rates over time). There will be a similar program at Ocean Club and Desert Inn. Rates and occupancy hurdles for Ocean Club and Desert Inn to be agreed.
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Related to Preferred guest

  • Preferred Equity Interest in any Person, means an Equity Interest of any class or classes (however designated) which is preferred as to the payment of dividends or distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over Equity Interests of any other class in such Person.

  • Preferred Equity as applied to the Equity Interests of any Person, means Equity Interests of such Person of any class or classes (however designated) that ranks prior, as to the payment of dividends or as to the distribution of assets upon any voluntary or involuntary liquidation, dissolution or winding up of such Person, to any shares (or other interests) of other Equity Interests of such Person, and shall include, without limitation, cumulative preferred, non-cumulative preferred, participating preferred and convertible preferred Equity Interests.

  • Securitization Financing means any transaction or series of transactions that may be entered into by the Borrower or any of its Subsidiaries pursuant to which the Borrower or any of its Subsidiaries may sell, convey or otherwise transfer to (a) a Securitization Subsidiary (in the case of a transfer by the Borrower or any of its Subsidiaries) or (b) any other Person (in the case of a transfer by a Securitization Subsidiary), or may grant a security interest in, any Securitization Assets of the Borrower or any of its Subsidiaries, and any assets related thereto, including all collateral securing such Securitization Assets, all contracts and all guarantees or other obligations in respect of such Securitization Assets, proceeds of such Securitization Assets and other assets that are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving Securitization Assets.

  • Preferred Guarantee Trustee means The Bank of New York, until a Successor Preferred Guarantee Trustee has been appointed and has accepted such appointment pursuant to the terms of this Preferred Securities Guarantee and thereafter means each such Successor Preferred Guarantee Trustee.

  • Preferred Interests means, with respect to any Person, Equity Interests issued by such Person that are entitled to a preference or priority over any other Equity Interests issued by such Person upon any distribution of such Person’s property and assets, whether by dividend or upon liquidation.