Force Majeure from Convertible Promissory Note
FOR VALUE RECEIVED, Dania Entertainment, LLC, a Delaware limited liability company (the Company), promises to pay to Lakes Florida Development, LLC, a Minnesota limited liability company (the Holder), the principal sum of Four Million Dollars ($4,000,000.00), in lawful money of the United States of America, together with interest thereon as, and under the conditions, set forth herein. This Convertible Promissory Note (this Note) is subject to the following terms and conditions:
Force Majeure. No party shall be in default in performance due hereunder if such failure or performance is due to causes beyond its reasonable control, including acts of God, war, terrorism, fires, floods, or accidents causing damage to or destruction of the Casino Facilities or property necessary to operate the Casino Facilities, or any other causes, contingencies, or circumstances not subject to its reasonable control which prevent or hinder performance of this Agreement; provided, however, that the foregoing shall not excuse any obligations of the Company or any other Affiliate of the Company to make monetary payments to the Manager or any Affiliate of the Manager as and when required hereunder.