HOWEVER, THAT SUCH REQUEST MAY BE MADE ONLY IF (I) THERE HAS OCCURRED
AND IS CONTINUING AN EVENT OF DEFAULT, OR (II) CIRCUMSTANCES EXIST THAT
REASONABLY COULD BE EXPECTED TO FORM THE BASIS OF AN ENVIRONMENTAL ACTION
AGAINST SUCH COMPANY OR ANY SUCH REAL PROPERTY WHICH WOULD HAVE A MATERIAL
ADVERSE EFFECT; IF BORROWER OR ANY OF ITS RESTRICTED SUBSIDIARIES FAILS TO
PROVIDE THE SAME WITHIN 60 DAYS AFTER SUCH REQUEST WAS MADE (OR IN SUCH LONGER
PERIOD AS MAY BE APPROVED BY ADMINISTRATIVE AGENT, IN ITS REASONABLE
DISCRETION), ADMINISTRATIVE AGENT MAY BUT IS UNDER NO OBLIGATION TO CONDUCT THE
SAME, AND BORROWER OR ITS RESTRICTED SUBSIDIARY SHALL GRANT AND HEREBY GRANTS TO
ADMINISTRATIVE AGENT AND ITS AGENTS ACCESS AT REASONABLE TIMES, AND UPON
REASONABLE NOTICE TO BORROWER, TO SUCH REAL PROPERTY AND SPECIFICALLY GRANTS
ADMINISTRATIVE AGENT AN IRREVOCABLE NON-EXCLUSIVE LICENSE, SUBJECT TO THE RIGHTS
OF TENANTS, TO UNDERTAKE SUCH AN ASSESSMENT, ALL AT NO COST OR EXPENSE TO
ADMINISTRATIVE AGENT OR ANY CREDITOR.
ADMINISTRATIVE AGENT WILL USE ITS
REASONABLE BEST EFFORTS TO OBTAIN FROM THE FIRM CONDUCTING ANY SUCH ASSESSMENT
USUAL AND CUSTOMARY AGREEMENTS TO SECURE LIABILITY INSURANCE AND TO TREAT ITS
WORK AS CONFIDENTIAL AND SHALL PROMPTLY PROVIDE BORROWER WITH ALL DOCUMENTS
RELATING TO SUCH ASSESSMENT.
SECTION 9.08.
EQUAL SECURITY FOR LOANS AND NOTES; PLEDGE OR MORTGAGE OF REAL
PROPERTY AND VESSELS.
(A)
SUBJECT TO COMPLIANCE WITH APPLICABLE GAMING LAWS, IF ANY CREDIT
PARTY SHALL ACQUIRE ANY PROPERTY AFTER THE CLOSING DATE, INCLUDING, WITHOUT
LIMITATION, PURSUANT TO ANY PERMITTED ACQUISITION (OTHER THAN ANY PROPERTY
DESCRIBED IN SECTION 9.08(B) OR 9.08(C)), OR AS TO WHICH COLLATERAL AGENT, FOR
THE BENEFIT OF THE SECURED PARTIES, DOES NOT HAVE A PERFECTED LIEN AND AS TO
WHICH THE SECURITY DOCUMENTS ARE INTENDED TO COVER, SUCH CREDIT PARTY SHALL
(SUBJECT TO ANY APPLICABLE PROVISIONS SET FORTH IN THE SECURITY AGREEMENT WITH
RESPECT TO LIMITATIONS ON GRANT OF SECURITY INTERESTS IN CERTAIN TYPES OF
PLEDGED COLLATERAL AND PERFECTIONS OF LIENS ON SUCH PLEDGED COLLATERAL) PROMPTLY
(I) EXECUTE AND DELIVER TO COLLATERAL AGENT SUCH AMENDMENTS TO THE SECURITY
DOCUMENTS OR SUCH OTHER DOCUMENTS AS COLLATERAL AGENT DEEMS NECESSARY OR
ADVISABLE IN ORDER TO GRANT TO COLLATERAL AGENT, FOR THE BENEFIT OF THE SECURED
PARTIES, SECURITY INTERESTS IN SUCH PROPERTY AND (II) TAKE ALL ACTIONS NECESSARY
OR ADVISABLE TO GRANT TO COLLATERAL AGENT, FOR THE BENEFIT OF THE SECURED
PARTIES, A PERFECTED FIRST PRIORITY SECURITY INTEREST, SUBJECT TO NO LIENS OTHER
THAN PERMITTED COLLATERAL LIENS.
(B)
IF, AFTER THE CLOSING DATE, ANY CREDIT PARTY ACQUIRES, INCLUDING,
WITHOUT LIMITATION, PURSUANT TO ANY PERMITTED ACQUISITION, A FEE INTEREST WITH A
FAIR MARKET VALUE OF $25.0 MILLION OR MORE IN ANY OTHER REAL PROPERTY (OTHER
THAN TO THE EXTENT SUCH REAL PROPERTY WAS FINANCED THROUGH THE INCURRENCE OF ANY
PURCHASE MONEY OBLIGATION PERMITTED BY SECTION 10.01), SUCH CREDIT PARTY SHALL
NOTIFY COLLATERAL AGENT AND, IF REQUESTED BY REQUIRED LENDERS OR
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Collateral Agent and subject to any applicable Gaming Laws, (i) take such
actions and execute such documents