ADVERSE EFFECT;
(XIII)
BORROWER CEASES TO OPERATE AND CONDUCT ITS HOTEL AND CASINO
BUSINESS AT THE PROPERTY OR TERMINATES SUCH BUSINESS FOR ANY REASON WHATSOEVER
(OTHER THAN AS A RESULT OF EXCUSABLE DELAY OR A TEMPORARY CESSATION IN
CONNECTION WITH ANY CONTINUOUS AND DILIGENT RENOVATION OR RESTORATION OF THE
PROPERTY FOLLOWING A CASUALTY OR CONDEMNATION);
(XIV)
SUBSTANTIAL COMPLETION OF THE RENOVATION PROJECT HAS NOT OCCURRED
BY THE RENOVATION PROJECT SUBSTANTIAL COMPLETION DEADLINE, SUBJECT TO EXCUSABLE
DELAYS;
(XV)
ANY GAMING LICENSE SHALL BE MODIFIED, REFUSED, SUSPENDED, REVOKED
OR CANCELED OR ALLOWED TO LAPSE OR IF A NOTICE OF A MATERIAL VIOLATION IS ISSUED
UNDER ANY GAMING LICENSE BY THE ISSUING AGENCY OR OTHER GOVERNMENTAL AUTHORITY
HAVING JURISDICTION, OR ANY PROCEEDING IS COMMENCED BY ANY GOVERNMENTAL
AUTHORITY FOR THE PURPOSE OF MODIFYING IN ANY MATERIALLY ADVERSE RESPECT,
SUSPENDING, REVOKING OR CANCELING ANY GAMING LICENSE IN ANY MATERIALLY ADVERSE
RESPECT, OR ANY GOVERNMENTAL AUTHORITY SHALL HAVE APPOINTED A CONSERVATOR,
SUPERVISOR OR TRUSTEE TO THE CASINO COMPONENT AND, IN EACH CASE OF THE
FOREGOING, SUCH ACTION COULD REASONABLY BE EXPECTED TO (A) HAVE A MATERIAL
ADVERSE EFFECT, (B) MATERIALLY AND ADVERSELY EFFECT THE CONTINUED OPERATION OF
THE CASINO COMPONENT IN THE USUAL COURSE OF BUSINESS AND IN SUBSTANTIALLY THE
SAME MANNER AND TO AT LEAST THE SAME STANDARD AS WAS MAINTAINED PRIOR TO SUCH
ACTION, OR (C) RESULT IN ANY MATERIAL DECREASE IN THE THEN EXPECTED CASH FLOW
AND REVENUES TO BE DERIVED FROM THE CASINO COMPONENT;
168
(XVI)
BORROWER OR ANY OTHER BORROWER PARTY SHALL CONTINUE TO BE IN
DEFAULT UNDER ANY OF THE OTHER TERMS, COVENANTS OR CONDITIONS OF THIS AGREEMENT
OR ANY OF THE OTHER LOAN DOCUMENTS NOT SPECIFIED IN CLAUSES (I) THROUGH (XIII)
ABOVE, FOR TEN (10) DAYS AFTER NOTICE TO BORROWER OR SUCH OTHER BORROWER PARTY
FROM LENDER, IN THE CASE OF ANY DEFAULT WHICH CAN BE CURED BY THE PAYMENT OF A
SUM OF MONEY, OR FOR THIRTY (30) DAYS AFTER NOTICE FROM LENDER IN THE CASE OF
ANY OTHER DEFAULT; PROVIDED THAT IF SUCH NON MONETARY DEFAULT IS SUSCEPTIBLE OF
CURE BUT CANNOT REASONABLY BE CURED WITHIN SUCH THIRTY (30) DAY PERIOD AND
PROVIDED FURTHER THAT BORROWER SHALL HAVE COMMENCED TO CURE SUCH DEFAULT WITHIN
SUCH THIRTY (30) DAY PERIOD AND THEREAFTER DILIGENTLY AND EXPEDITIOUSLY PROCEEDS
TO CURE THE SAME, SUCH THIRTY (30) DAY PERIOD SHALL BE EXTENDED FOR SUCH TIME AS
IS REASONABLY NECESSARY FOR BORROWER IN THE EXERCISE OF DUE DILIGENCE TO CURE
SUCH DEFAULT, SUCH ADDITIONAL PERIOD NOT TO EXCEED ONE HUNDRED AND TWENTY (120)
DAYS;
(XVII)
(A) A REPORTABLE EVENT SHALL HAVE OCCURRED WITH RESPECT TO A
PENSION PLAN, (B) THE FILING BY THE BORROWER, ANY ERISA AFFILIATE, OR AN
ADMINISTRATOR OF ANY PLAN OF A NOTICE OF INTENT TO TERMINATE SUCH A PLAN IN A
"DISTRESS TERMINATION" UNDER THE PROVISIONS OF SECTION 4041 OF ERISA, (C) THE
RECEIPT OF NOTICE BY THE BORROWER, ANY ERISA AFFILIATE, OR AN ADMINISTRATOR OF A
PLAN THAT THE PBGC HAS INSTITUTED PROCEEDINGS TO TERMINATE (OR