FINANCIAL STATEMENTS
AND REPORTS REQUIRED PURSUANT TO SECTIONS 5.08(A), (B) AND 5.08(C), A COMPLIANCE
CERTIFICATE SIGNED BY AN AUTHORIZED OFFICER OF BORROWER, INCLUDING, WITHOUT
LIMITATION, THROUGH THE 2010 FISCAL YEAR THE STATUS OF THE REMODEL PROJECTS
SHOWN ON SCHEDULE OF REMODEL PROJECT AND RECONCILIATION OF THE LINE ITEM PROJECT
DESCRIPTIONS AND COST ESTIMATES WHICH SHALL NOT EXCEED FOURTEEN MILLION TWO
HUNDRED SEVENTY-FIVE THOUSAND DOLLARS ($14,275,000.00) IN THE AGGREGATE AT ANY
TIME;
(G)
PROMPTLY AFTER THE SAME ARE AVAILABLE, COPIES
OF EACH ANNUAL REPORT, PROXY OR FINANCIAL STATEMENT OR OTHER REPORT OR
COMMUNICATION THAT SHALL HAVE BEEN SENT TO THE STOCKHOLDERS OF MCRI, AND COPIES
OF ALL ANNUAL, REGULAR, PERIODIC AND
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SPECIAL REPORTS (INCLUDING, WITHOUT LIMITATION, EACH 10Q AND 10K REPORT) AND
REGISTRATION STATEMENTS WHICH MCRI SHALL HAVE FILED OR BE REQUIRED TO FILE WITH
THE SECURITIES AND EXCHANGE COMMISSION UNDER SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND NOT OTHERWISE REQUIRED TO BE
DELIVERED TO THE BANKS PURSUANT TO OTHER PROVISIONS OF THIS SECTION 5.08.
(H)
PROMPTLY, AND IN ANY EVENT WITHIN TEN
(10) DAYS OF THE FILING THEREOF, A COPY OF ANY SUBSTANTIVE FILING, REPORT OR
OTHER DOCUMENT FILED BY BORROWER, MCRI OR ANY MEMBER OF THE MCRI CONSOLIDATION
WITH THE NEVADA GAMING AUTHORITIES.
PROMPTLY AFTER THE SAME ARE AVAILABLE,
COPIES OF ANY WRITTEN COMMUNICATION TO BORROWER OR MCRI FROM THE NEVADA GAMING
AUTHORITIES ADVISING THEM, OR EITHER OF THEM, OF A MATERIAL VIOLATION OF OR
NON-COMPLIANCE WITH, ANY GAMING LAW BY BORROWER, MCRI OR ANY MEMBER OF THE MCRI
CONSOLIDATION.
(I)
UNTIL BANK FACILITY TERMINATION, BORROWER
AND MCRI, AND EACH OF THEM, SHALL KEEP AND MAINTAIN COMPLETE AND ACCURATE BOOKS
AND RECORDS IN ACCORDANCE WITH GAAP, CONSISTENTLY APPLIED.
BORROWER AND MCRI,
AND EACH OF THEM, SHALL PERMIT BANKS AND ANY AUTHORIZED REPRESENTATIVES OF BANKS
TO HAVE REASONABLE ACCESS TO AND TO INSPECT, EXAMINE AND MAKE COPIES OF THE
BOOKS AND RECORDS, ANY AND ALL ACCOUNTS, DATA AND OTHER DOCUMENTS OF BORROWER
AND MCRI AT ALL REASONABLE TIMES UPON THE GIVING OF REASONABLE NOTICE OF SUCH
INTENT.
IN ADDITION:
(I) IN THE EVENT OF THE OCCURRENCE OF ANY DEFAULT OR
EVENT OF DEFAULT, OR (II) IN THE EVENT ANY MATERIAL ADVERSE CHANGE OCCURS,
BORROWER AND MCRI SHALL PROMPTLY, AND IN ANY EVENT WITHIN THREE (3) DAYS AFTER
ACTUAL KNOWLEDGE THEREOF, NOTIFY AGENT BANK IN WRITING OF SUCH OCCURRENCE.
(J)
UNTIL BANK FACILITY TERMINATION, BORROWER
AND MCRI, AND EACH OF THEM, SHALL FURNISH TO AGENT BANK, WITH SUFFICIENT COPIES
FOR DISTRIBUTION TO EACH OF THE BANKS, ANY FINANCIAL INFORMATION OR OTHER
INFORMATION BEARING ON THE FINANCIAL STATUS OF THE BORROWER, MCRI, ANY MEMBER OF
THE MCRI CONSOLIDATION, OR ANY OF THEM, WHICH IS REASONABLY REQUESTED BY AGENT
BANK OR REQUISITE LENDERS.
SECTION 5.09.
INSURANCE.
BORROWER SHALL
OBTAIN, OR CAUSE TO BE OBTAINED, AND SHALL MAINTAIN OR CAUSE TO BE MAINTAINED
WITH RESPECT TO THE HOTEL/CASINO FACILITY, AT ALL TIMES THROUGHOUT THE TERM OF
THE CREDIT FACILITY, AT ITS OWN COST AND EXPENSE, AND