J u!y 30. 20 J.l 

J'iu US. Jfui! 

Bruce ·'Two Dogs·· l301.sum. Chuim1an 

Mohegan ·1 rihc or Indians of Connecticut 

On..: M,)fh.:g.u1 Sun Boukvard 

l!ni.:asvilk. C 1· fJ(i382 

Re· R.:vicw of Senior Notes Indenture for the Mohegan Tribe of Indians of 

Cnnnecticut 

Dear Chai1111a11 Bot.sum: 

rt11s letter responds to the r<::yuesl on heh~l f of the Mohegan Tri ht.: of Indians t'f· 

< 'onnecti-.·ut l l'nhcl anJ the Mohc·gan Tri ha I Ga.ming Authority ( :VJ'f GA l f(>r lhc National 

Indian Gaming ('omm(ssinn·s Offic~ oCGt.:nt>ral Counsel to rcviC\\ an ind~nl.111\; n.:lakd 

to th;,; rd1 nancing o t' existing notes. Speci ficully. you have asked for an opiilion \.\ hcthcr 

tht: docttnh.:nts constitute management contracts reqLciring the NiGC Chairvvoman ';-; 

apprcwJl under the Indian Gaming Regulatory Act. YOLl also asked for an opinion 

1.vhcthi.:r the docunwnts violat..:: l(iRA ·s rCLJLLircment that u Tribe have: the sok prop1·i;.:ury 

interest in its gaming cperation. 

rn my review. I considered the follm' ing documents (colkct1vt:ly '"the Indenture" ) 

submitted as attachment..; to an (:-rnai l s~ul b:r K<.!nt Richey on July 23. 2013, behalf or tht: 

Tribe: 

I. Imlcnture marked at Lop as ··Wl.RK DRAFT: 7121! 13" and at botllnn right as 

"'vV/2 I 3907-1-vl ··among l\iff(j;\, the Tnbe. Guarantors and U.S Bank National 

Association as Senior Noks Truste~ ~ 

2. 1-onrt of note altached as Exhibit A to fnd~ntun: marked al lop right as ·'Exhibit 

A,.: 

_t Form of certificate oftnmsfor attached as Exhibit B to Indenture lllarked al top 

tight as "Exhibit B"; 

4 Fonn or Cl.!rti ticak or cxchaug~ <ltlach~J as Exhibit c to lncknlUt\.' marked <tl top 

right as ·-Fxhibit C .. : 

'\IA"1Cl'vJl,. ~ f .~.:)Ql;i\i'l · F:i~> u ' ";·,.\_,' ·''- -:'j ,. (·) .•' .. .,., ' . ., ' ' .. : .. ..,..,sl.\ N•(; . . '.•)' . .' 

~IG(,;(JNl\I. j;.; :t~·~·~ :,,,. ·,;; ·,1.:.' ;11 ... .. /•. ,, " " . .,. 
Chairrnan ~>01sun1 

Re: R..:" ic\v of tina1Ki ng ngn.:e11 1cnt.;; for 1 he MnlH.:~an Trih~ l)l. Indian:> or· ( \mnecl!c!H 

.lt:ly 31). ~I' !3 

PJg.; ..!. c 1· -~ 

5. h1rrn o i' ci.::rti fi,· ate Crom acqt11 ring in~ututional accr·edited investor attached as 

Exhibit D to lrHknture marked at top right as "l.:::xliibit u··~ 

6. Form of' notalinn of guarantee on note attached as Exhibit E to lndcnltir<.: mark.::d 

at l\)p right as ··r:xhibit F'~ and, 

7. Fonn o t ·~Lipp kmt:ntal indenture to be delivered by subsequent guarantors 

attached as Fxh1b1t F to Indenture marked at top right as "Exhibit F ... 

The lmkmurc 1~trniains terms similur to other agreements the Otfo;.: ot'Ciencral 

Counsel has air~ady n~\ icwed and analy1.ed. See 

W\>,,'W.nigc.:;ov/Reading Room/Management Review .. Lcttt:rs.aspx. Applying the same 

analysi:; here.:. it is my opinion that collectively the indenture is not a management 

contract and dues no! rcquir~ the approval of !he Chairwoman. 1t is also my opinion that 

\t do~s not ,·io:at-.: !GRA 's sole proprietary interest n .. 'tjuiremcnt. 

[t is my u11tkrsLandin15 that the Indenture is rc:pn:scntcd to be iL suhsta11tially li.nal 

fom1 \\> i th respect to t<:·m1s affocting this opinion. and if such terms change m any 

material 1xay prior to d,,::;ing or are inconsistent with as~umptions made herein. this 

opinion shall not apply. Further, this opinion is limited to the Indenture and its i.:xhibits as 

listed aboH·. This opinion does not include or extend to any other agreemcnrs or 

document.:> noi submitted Cor review. 

I anticip:.lll:! that this letter will be posted £0 thi:; NlG("s wcbsik. Prior lL) posting. 

NfGC will no£ity y\)tL and g:ivc you an opportunity to idencify and r<:qucst that 

inforrn:nion subj;.;-ct Cl> the c'<emptions untlcr FOIA be.: rcJactcd or withheld. /\ list of the 

FOJA cx~mptions 111a1 be found at 25 U.S.C. ~ 552(h). 

If you hav...: ~my truestions. pka:sc contar:t J\ 1.GC Senior Attorney Mdissa 

Schlichting at (202} ()_~2 -7003. 

Sincerely, 

~~-- Eric Shepard 

Acting General Co1m..;;d 

cc r [clga \\'~)O<l.:>. Attorn~y Gt::neral 

~·loh~g:.in Tr·ibc of Indians of Connecticut 

ivia c-niail: hwootls(u moll~ggi1nrn1l.rnm) 
~((': K,~vl;,;.'\'v ,>:· !;1-:t1~~·::~:·)~· ~1:;r·.:~rnc~ .ts for t!h..: .\!oh~gan r r~h~ df° lndi<~:;:-; n;·( ~,nnl::::~ic1n 

.Li::~~ _1-:}_ :~: [ _·; 

!<<:n( R:clh..':\. t -;q_ 

Fa~g;\.: Ba:-..,,-r Dani8ls. f.. LP. 

1. vi:t ~ -1; ,;1.i i: 1<;.;ru,ri~·ht!VCl l' fa~_gn.:h<.LCO.~D.J