BE DELIVERED WITHIN 45 BUSINESS DAYS OF THE CLOSING DATE TO THE COLLATERAL
AGENT, (III) SHALL STATE THAT THEY ARE NAMING CREDIT SUISSE, CAYMAN ISLANDS
BRANCH, AS COLLATERAL AGENT AND ADMINISTRATIVE AGENT, AS AN ADDITIONAL INSURED,
LOSS PAYEE AND MORTGAGEE TO SUCH FLOOD INSURANCE POLICIES AND (IV) SHALL PROVIDE
EVIDENCE THAT WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION, AS TRUSTEE (TO
THE EXTENT SO NAMED), HAS BEEN REMOVED AS AN ADDITIONAL INSURED, LOSS PAYEE AND
MORTGAGEE FROM SUCH FLOOD INSURANCE POLICIES;
(C)
BORROWER SHALL DELIVER OR CAUSE TO BE DELIVERED TO THE COLLATERAL
AGENT WITHIN TEN (10) DAYS AFTER THE CLOSING DATE (WHICH TIME PERIOD MAY BE
EXTENDED AT THE SOLE DISCRETION OF THE COLLATERAL AGENT) ALL CERTIFICATES
REPRESENTING OR EVIDENCING THE OUTSTANDING EQUITY INTERESTS OF COLONIAL
HOLDINGS, INC., A VIRGINIA CORPORATION, AND MARYLAND-VIRGINIA RACING
CIRCUIT, INC., A VIRGINIA CORPORATION, EACH ACCOMPANIED BY A STOCK POWER WITH
RESPECT THERETO, UNDATED AND ENDORSED IN BLANK; AND
(D)
WITHIN THIRTY (30) DAYS AFTER THE CLOSING DATE, UNLESS WAIVED OR
EXTENDED BY THE COLLATERAL AGENT IN ITS SOLE DISCRETION, THE APPLICABLE LOAN
PARTIES SHALL DELIVER TO THE COLLATERAL AGENT, SURVEYS WITH RESPECT TO THE
FOLLOWING MORTGAGED PROPERTIES:
(I)
3747 HIGHWAY 90, EUNICE, LOUISIANA;
(II)
1869 MILLS HIGHWAY, BREAUX BRIDGE, LOUISIANA;
(III)
1050A BAKER HUGHES DRIVE, BROUSSARD, LOUISIANA;
(IV)
1829 HIGHWAY 90 WEST, BAYOU VISTA, LOUISIANA;
(V)
1541 GRAND CAILLOU ROAD, HOUMA, LOUISIANA;
(VI)
213 AND 233 WEST PARK AVENUE, THIBODAUX, LOUISIANA;
(VII)
108 N. HIGHWAY 397, LAKE CHARLES, LOUISIANA;
(VIII)
2267 OLD HIGHWAY 90, VINTON, LOUISIANA;
(IX)
2334 HIGHWAY 109 SOUTH, VINTON, LOUISIANA;
(X)
2654 HIGHWAY 108, SULPHUR, LOUISIANA;
(XI)
7340 WESTBANK EXPRESSWAY, SUITE 200, MARRERO, LOUISIANA;
(XII)
11825 HIGHWAY 308, LOCKPORT, LOUISIANA;
(XIII)
109 S. SERVICE ROAD AND 105 ST. PETER ROAD, RACELAND, LOUISIANA; AND
(XIV)
52396 HIGHWAY 16, DENHAM SPRINGS, LOUISIANA.
106
SECTION 5.11
ADDITIONAL COLLATERAL; ADDITIONAL GUARANTORS.
(A)
SUBJECT TO THIS SECTION 5.11, WITH RESPECT TO ANY PROPERTY
ACQUIRED AFTER THE CLOSING DATE BY ANY LOAN PARTY THAT IS INTENDED TO BE SUBJECT
TO THE LIEN CREATED BY ANY OF THE SECURITY DOCUMENTS BUT IS NOT SO SUBJECT,
PROMPTLY (AND IN ANY EVENT WITHIN 30 DAYS (45 DAYS IN THE CASE OF PROPERTY
ACQUIRED IN CONNECTION WITH THE ACQUISITION OF A TRUCK STOP VIDEO GAMING
FACILITY) AFTER THE ACQUISITION THEREOF) (I) EXECUTE AND DELIVER TO THE
ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT SUCH AMENDMENTS OR SUPPLEMENTS TO
THE RELEVANT SECURITY DOCUMENTS OR SUCH OTHER DOCUMENTS AS THE ADMINISTRATIVE
AGENT OR THE COLLATERAL AGENT SHALL REASONABLY DEEM NECESSARY OR ADVISABLE TO
GRANT TO THE COLLATERAL AGENT, FOR ITS BENEFIT AND FOR THE BENEFIT OF THE OTHER
SECURED PARTIES, A LIEN ON SUCH PROPERTY SUBJECT TO NO LIENS OTHER THAN
PERMITTED LIENS, AND (II) TAKE ALL ACTIONS REASONABLY NECESSARY TO CAUSE SUCH
LIEN TO BE DULY PERFECTED TO THE EXTENT REQUIRED BY SUCH SECURITY DOCUMENT IN
ACCORDANCE WITH ALL APPLICABLE REQUIREMENTS OF LAW, INCLUDING THE FILING OF
FINANCING STATEMENTS IN SUCH JURISDICTIONS AS MAY BE REASONABLY REQUESTED BY THE
ADMINISTRATIVE AGENT. BORROWER