Sub-Concession definition

Sub-Concession means a firm that has a sublease or other agreement with a prime concessionaire rather than with the airport itself, to operate a concession at the airport. Subcontractor means an individual, partnership, JV, corporation or firm that holds a contract at any tier below the prime contract, including a vendor under a purchase order. Sublease means a lease by a lessee (tenant) to a sublessee (subtenant). Sublease is an example of a sub- concession in which the sublessee is independently responsible for the full financing and operation of the subleased concession location(s) and activities. A sublease passes on to the sublessee all
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Sub-Concession or the tripartite sub-concession contract for the exploitation “Sub-Concession Contract” of games of fortune and chance or other games in casino in Macau entered into among SJM, MGM Grand Paradise and the local government of Macau on April 19, 2005 “Sub-Concessionaires” the holder(s) of a sub-concession for the operation of casino games in Macau
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Examples of Sub-Concession in a sentence

  • Lake Park Golf Club, Lewisville, Texas Sub-Concession Agreement dated as of November 16, 2006 between CNL Income Lake Park, LLC and Assigns, and Evergreen Alliance Golf Limited, L.P.

  • No consent or authorization of, filing with, notice to or other act by or in respect of, any Governmental Instrumentality or any other Person is required in connection with the transactions contemplated hereby, other than the post-effective notice to the Gaming Inspection and Coordination Bureau required under the Gaming Sub-Concession Contract.

  • Evidence that the Company has received the confirmation of Macau SAR that the operation of the Sands Macao Casino (as currently conducted and as anticipated to be conducted during the construction of and after completion of the Sands Macao Podium Expansion Project) is permitted by the scope of business provisions of the Organizational Documents of the Company, as required by Article 14(2) of the Gaming Sub-Concession Contract.

  • Evidence that the Land, Public Construction and Transportation Bureau has approved the quality control manual related to the Primary Projects as contemplated by Article 35(2) (4) of the Gaming Sub-Concession Contract.

  • Evidence that Macau SAR has confirmed that the scope of insurance required to be obtained pursuant to the Loan Documents satisfies the requirements of Article 40 of the Gaming Sub-Concession Contract and, if any insurance is provided by insurance companies outside Macau SAR, evidence that Macau SAR has authorized such companies.

  • The Company and the Borrower shall include in any inventory or any update thereof required pursuant to Article 44 of the Gaming Sub-Concession Contract only those items which either (i) have historically been included in the inventory or such updates or (ii) are, in the Company’s reasonable belief, required by a Legal Requirement to be so included or (iii) are otherwise reasonably approved by the Collateral Agent.

  • The Administrative Agent shall have received, with counterparts for each Lender, the Guaranty, duly executed and delivered by an Authorized Officer of each Guarantor, which shall have been stamped and delivered to the government of Macau SAR in accordance with the requirements of the Gaming Sub-Concession Contract.

  • Reference is also made to the Sub-Concession Further Extension Contract Announcement in relation to the further extension of the gaming sub-concession of MGM Grand Paradise under the Sub-Concession Contract for a further period up to December 31, 2022 pursuant to the Sub- Concession Further Extension Contract.

  • The Company must ensure that the Restricted Group continues to own and operate the MGM Macau and, after its construction, the MGM Cotai, as integrated casino resorts, provided that there shall be no breach of this Clause solely by reason of the occurrence of a Sub-Concession Expiry before 31 March 2022.

  • The Collateral Agent shall have received, with counterparts for each Lender, the Security Agreement, duly executed and delivered by an Authorized Officer of each Loan Party, which shall have been stamped and delivered to the government of Macau SAR in accordance with the requirements of the Gaming Sub-Concession Contract.