THE TENANT SHALL NOT ENTER INTO ANY DEPOSITORY BANK, CONTROL
AGREEMENT OR SIMILAR AGREEMENT WITH RESPECT TO THE FF&E RESERVE COLLATERAL.
12.4.5
UPON THE OCCURRENCE AND DURING THE CONTINUANCE OF AN EVENT OF
DEFAULT, LANDLORD SHALL BE ENTITLED TO EXERCISE ANY AND ALL RIGHTS OR REMEDIES
AVAILABLE TO A SECURED PARTY UNDER THE UNIFORM COMMERCIAL CODE, OR AVAILABLE TO
A LANDLORD UNDER THE LAWS OF THE STATE OF NEVADA, WITH RESPECT TO THE COLLATERAL
SUBJECT TO THE APPLICABLE PROVISIONS OF THE GAMING LAWS. WITHOUT LIMITING THE
FOREGOING, UPON THE OCCURRENCE OF AN EVENT OF DEFAULT, LANDLORD MAY PURSUE ANY
OF THE FOLLOWING SEPARATELY, SUCCESSIVELY OR SIMULTANEOUSLY SUBJECT TO THE
APPLICABLE PROVISIONS OF THE GAMING LAWS:
(A)
EXERCISE ALL OF ITS RIGHTS AND REMEDIES UNDER THE CONTROL
AGREEMENT;
(B)
ENTER ONTO THE LEASED PROPERTY WHERE ANY FF&E IS LOCATED AND TAKE
POSSESSION THEREOF WITH OR WITHOUT JUDICIAL PROCESS;
(C)
WITHOUT NOTICE EXCEPT AS REQUIRED UNDER THE UNIFORM COMMERCIAL
CODE AND THE GAMING LAWS, SELL, ASSIGN, LEASE, LICENSE (ON AN EXCLUSIVE OR
NONEXCLUSIVE BASIS) OR OTHERWISE DISPOSE OF THE FF&E OR ANY PART THEREOF IN ONE
OR MORE PARCELS AT PUBLIC OR PRIVATE SALE, FOR CASH, ON CREDIT OR FOR FUTURE
DELIVERY, AT SUCH TIME OR TIMES AND AT SUCH PRICE OR PRICES AND UPON SUCH OTHER
TERMS AS THE LANDLORD MAY DEEM COMMERCIALLY REASONABLE; AND
(D)
TAKE SUCH ACTIONS, GIVE SUCH NOTICES, OBTAIN SUCH CONSENTS, AND DO
SUCH OTHER THINGS AS THE LANDLORD MAY DEEM REQUIRED OR APPROPRIATE IN THE EVENT
OF A SALE OR DISPOSITION OF ANY OF THE COLLATERAL.
Notwithstanding the foregoing or any other provision contained in this Lease,
the remedies provided by this Lease shall in no way include the right to take
any action in contravention of applicable Gaming Laws.
12.4.6
THE RIGHTS OF THE LANDLORD HEREUNDER SHALL NOT BE CONDITIONED OR
CONTINGENT UPON THE PURSUIT BY THE LANDLORD OF ANY OTHER RIGHT OR REMEDY AGAINST
TENANT (INCLUDING TERMINATING THE LEASE OR TENANT'S RIGHTS OF OCCUPANCY OR
POSSESSION OF THE LEASEHOLD PROPERTY) OR AGAINST ANY OTHER COLLATERAL SECURITY
FOR THE PERFORMANCE OF TENANT'S OBLIGATIONS. WITHOUT LIMITING THE FOREGOING, ANY
TERMINATION OF THE LEASE PURSUANT TO SECTIONS 12.1 AND 12.2 AND ANY TERMINATION
OF THE TENANT'S RIGHT OF POSSESSION PURSUANT TO SECTION 12.3, SHALL NOT AFFECT
LANDLORD'S RIGHTS AND REMEDIES UNDER THIS SECTION 12.4. NEITHER THE LANDLORD NOR
ANY NOMINEE OR DESIGNEE OF LANDLORD SHALL BE LIABLE FOR ANY FAILURE TO DEMAND,
COLLECT OR REALIZE UPON ALL OR ANY PART OF THE COLLATERAL OR FOR ANY DELAY IN
DOING SO, NOR SHALL THEY BE UNDER ANY OBLIGATION TO SELL OR OTHERWISE DISPOSE OF
ANY COLLATERAL UPON THE REQUEST OF TENANT OR TO TAKE ANY OTHER ACTION WHATSOEVER
WITH REGARD TO THE COLLATERAL OR ANY PART THEREOF.
12.4.7
TO THE EXTENT THE PRIOR APPROVAL OF ANY GAMING AUTHORITIES IS
REQUIRED PURSUANT TO APPLICABLE GAMING LAWS FOR THE EXERCISE OF ANY REMEDY
HEREUNDER OR UNDER ANY OF LANDLORD'S LOAN DOCUMENTS, OR FOR THE TAKING OF ANY
ACTION BY LANDLORD