TO RESTRICT INVESTMENTS, DISPOSITIONS OR
DISTRIBUTIONS THAT ARE OTHERWISE PERMITTED BY THIS AGREEMENT.
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SECTION 5.9 LEVERAGE RATIO. PERMIT THE LEVERAGE RATIO ON ANY COVENANT
CALCULATION DATE TO EXCEED 4.0 TO 1.0.
SECTION 5.10
SENIOR SECURED LEVERAGE RATIO.
PERMIT THE SENIOR SECURED LEVERAGE
RATIO ON ANY COVENANT CALCULATION DATE TO EXCEED 1.0 TO 1.0.
SECTION 5.11 FIXED CHARGE COVERAGE RATIO. PERMIT THE FIXED CHARGE COVERAGE RATIO
ON ANY COVENANT CALCULATION DATE TO BE LESS THAN 1.10 TO 1.
SECTION 5.12 MINIMUM EBITDA. PERMIT EBITDA ON ANY COVENANT CALCULATION DATE TO
BE LESS THAN $160,000,000.
SECTION 5.13 CREATION OF SUBSIDIARIES. ESTABLISH, CREATE OR ACQUIRE ANY
SUBSIDIARIES TO CARRY ON ANY PORTION OF THE BUSINESS OF THE GAMING BUSINESS OR
TO HOLD ANY GAMING ASSETS WITHOUT MAKING SUCH SUBSIDIARY A GUARANTOR, UNLESS
SUCH SUBSIDIARY IS AN IMMATERIAL SUBSIDIARY WITH NOMINAL ECONOMIC IMPACT.
FOR
THE AVOIDANCE OF DOUBT, ANY TRANSACTIONS BETWEEN THE BORROWER OR A GUARANTOR, ON
THE ONE HAND, AND A SUBSIDIARY OF THE BORROWER OR A GUARANTOR WHICH IS NOT A
GUARANTOR ON THE OTHER, WILL BE SUBJECT TO SECTIONS 5.1, 5.2, 5.3, 5.7 AND 5.8
HEREOF.
SECTION 5.14 GAMING ACCOUNTS. FAIL TO EXECUTE AND DELIVER TO THE LENDER, OR
PERMIT ANY GUARANTOR TO FAIL TO EXECUTE AND DELIVER, A CONTROL AGREEMENT WITH
RESPECT TO EACH GAMING ACCOUNT WITHIN TEN DAYS OF CREATION OR ESTABLISHMENT
THEREOF, OR WITHIN TEN DAYS FOLLOWING THE CLOSING DATE IN THE CASE OF ANY GAMING
ACCOUNT MAINTAINED BY THE BORROWER OR A GUARANTOR AS OF THE CLOSING DATE.
SECTION 5.15 SOVEREIGN IMMUNITY; JURISDICTION AND VENUE. ASSERT THAT THE
PROVISIONS OF ARTICLE IX IS NOT VALID, BINDING AND LEGALLY ENFORCEABLE AGAINST
THE BORROWER AND THE BORROWER SHALL REAFFIRM IN WRITING UPON REQUEST THE VALID,
BINDING AND ENFORCEABLE NATURE OF THE PROVISIONS OF ARTICLE IX.
SECTION 5.16 DAILY CASH DEPOSITS. FAIL, OR PERMIT ANY GUARANTOR TO FAIL, TO
(A) CAUSE ALL GAMING REVENUES CONSISTING OF CASH, OTHER THAN CASH REASONABLY
REQUIRED TO BE MAINTAINED AT THE FACILITIES (SUCH AS CAGE CASH, PETTY CASH AND
OTHER SIMILAR AMOUNTS), TO BE (I) DEPOSITED EACH BUSINESS DAY IN AND REMITTED TO
A GAMING ACCOUNT SUBJECT TO A CONTROL AGREEMENT IN FAVOR OF THE LENDER AND
(II) MAINTAINED IN A GAMING ACCOUNT OR (B) CAUSE GAMING REVENUES CONSISTING OF
INSTRUMENTS AND WRITINGS THAT EVIDENCE A RIGHT TO PAYMENT ARISING OUT OF THE USE
OF A CREDIT OR CHARGE CARD TO BE CONVERTED WITHIN TWO BUSINESS DAYS INTO CASH
WHICH IS THEREAFTER APPLIED AS PROVIDED IN CLAUSE (A).
SECTION 5.17 SEGREGATION OF GAMING ASSETS.
(A)
FAIL, OR PERMIT ANY GUARANTOR TO FAIL, TO SEGREGATE ALL GAMING
ASSETS, INCLUDING ALL FUNDS AND BANK ACCOUNTS, FROM THE NON-GAMING ASSETS; OR
(B)
COMMINGLE, OR PERMIT ANY GUARANTOR TO COMMINGLE, ANY NON-GAMING
ASSETS (INCLUDING ANY CASH, SECURITIES OR ACCOUNTS) WITH ANY GAMING ASSETS.
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SECTION 5.18 ACCOUNTING CHANGES. CHANGE (A) ITS FISCAL YEAR OR (B) ITS
ACCOUNTING PRACTICES EXCEPT AS REQUIRED BY GAAP.
SECTION 5.19 JOINT VENTURES. ENTER INTO, OR PERMIT ANY GUARANTOR TO ENTER