VLT Facility definition

VLT Facility. For purposes of this Letter of Intent, the term VLT Facility will refer to the new Video Lottery Terminal facility to be located at or adjacent to Underground Atlanta and will be limited to the actual gaming facilities or video lottery venues located within an agreed upon footprint and all entertainment venues, hotels, restaurants, gift shops or other retail stores, food and beverage and all related facilities within such footprint. The footprint shall extend to all four (4) phases as defined in the Management Agreement. Upon the mutual consent of Owner and Operator, the term “VLT Facility” may be expanded to include any or all of the non-gaming facilities that will be developed and located adjacent to the gaming facilities, including but not limited to entertainment venues, hotels, restaurants, gift shops or other retail stores, food and beverage and all related facilities outside the footprint of the VLT Facility. The term VLT Facility specifically excludes any existing facilities at Underground Atlanta (except those facilities in which the temporary VLT Facility resides) and any third party restaurants, entertainment venues, hotels, gift shops, retail, food and beverage, parking and related facilities.
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VLT Facility means (i) the Lincoln VLT Facility (until the Division commences operating video lottery games at the Tiverton VLT Facility) and (ii) as the context requires, the Lincoln VLT Facility or the Tiverton VLT Facility (once the Division commences operating video lottery games at such facility).
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Examples of VLT Facility in a sentence

  • During the Term, Operator shall be appointed as Owner’s agent and shall have exclusive authority relative to the supervision and control of the VLT Facility and shall be paid the Management Fee and the Incentive Fee.

  • Owner shall pay all costs to develop, construct, furnish and equip the VLT Facility in accordance with a project budget and plans and specifications (including FF&E specifications) as agreed upon by the Owner.

  • Owner shall be required to keep the VLT Facility in compliance with applicable laws and with the Dover Standards.

  • Each Borrower hereby subordinates any claims, including any rights at law or in equity to payment, subrogation, reimbursement, exoneration, contribution, indemnification or set off, that it may have at any time against any other Obligor, howsoever arising, to the indefeasible full payment of its Obligations.

  • Owner and Operator agree that upon execution of this Letter of Intent, neither party nor their respective Affiliates will enter into or continue any discussions or negotiations with any third parties relating to the ownership, operation, development or management of the VLT Facility or any other VLT facility within the Territory prior to October 14, 2013.

  • The balance of three hundred, fifty thousand dollars ($350,000) shall be due and payable upon the satisfaction of all conditions contained in the definitive Management Agreement and the issuance of a license by the GLC to the Owner and Operator, if required, for the operation of the VLT Facility.

  • Owner and Operator agree that upon execution of this Letter of Intent, neither party nor their respective Affiliates will enter into or continue any discussions or negotiations relating to the ownership, operation, development or management of the VLT Facility or any other VLT facility within the Territory prior to the expiration of a date that is one year from the date of the execution of this Letter of Intent.

  • Operator shall be responsible for hiring, firing, training and disciplining all personnel employed at the VLT Facility, all of whom shall be employees of Owner, except with respect to up to two (2) key employees whom Operator may choose to place on Operator’s payroll.

  • Owner shall only be permitted to enter into Approved Financings with respect to the VLT Facility.

  • Operator shall advise and consult with Owner with respect to capital improvements at the VLT Facility.

Related to VLT Facility

  • Replacement Facility means 1 of the following:

  • Existing Facility means a facility in existence on any given date, newly constructed or altered.

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Project Facility means facility being one or more of the following facilities as specified in the Special Conditions of Contract, being developed in accordance with the Project and the Detailed Project Implementation Report and includes all its buildings, equipment, facilities, software and systems and includes without limitation, where the circumstances so require, any expansion thereof from time to time and may include any new location to be separately mentioned in the Special Conditions of Contract.

  • Debt Facility means any Senior Facility and any Second Priority Debt Facility.