WITH THE PREPARATION OF SUCH QUALIFIED APPRAISAL.
SECTION 5.16.
COMPLIANCE WITH OTHER LOAN DOCUMENTS.
BORROWERS SHALL COMPLY WITH EACH AND EVERY TERM, CONDITION AND AGREEMENT
CONTAINED IN THE LOAN DOCUMENTS INCLUDING, WITHOUT LIMITATION, THE ENVIRONMENTAL
CERTIFICATE AND ALL OF THE SECURITY DOCUMENTATION.
SECTION 5.17.
SUITS OR ACTIONS AFFECTING BORROWERS.
THROUGHOUT THE TERM OF THE BANK FACILITIES, BORROWERS SHALL PROMPTLY ADVISE
AGENT BANK IN WRITING WITHIN TEN (10) DAYS AFTER BORROWERS OBTAIN KNOWLEDGE OF
(A) ANY CLAIMS, LITIGATION, PROCEEDINGS OR DISPUTES (WHETHER OR NOT PURPORTEDLY
ON BEHALF OF BORROWERS) AGAINST, OR TO THE ACTUAL KNOWLEDGE OF BORROWERS,
THREATENED OR AFFECTING BORROWERS WHICH, IF ADVERSELY DETERMINED, WOULD RESULT
IN A MATERIAL ADVERSE CHANGE IN THE COLLATERAL PROPERTIES OR THE BUSINESS,
OPERATIONS OR FINANCIAL CONDITIONS OF BORROWERS, (B) ANY MATERIAL LABOR
CONTROVERSY RESULTING IN OR THREATENING TO RESULT IN A STRIKE AGAINST ANY OF THE
COLLATERAL PROPERTIES OR HOTEL/CASINO FACILITIES, OR (C) ANY PROPOSAL BY ANY
GOVERNMENTAL AUTHORITY TO ACQUIRE ANY OF THE MATERIAL ASSETS OR BUSINESS OF
BORROWERS.
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SECTION 5.18.
CONSENTS OF AND NOTICE TO GAMING
AUTHORITIES.
A.
BORROWERS SHALL MAKE ALL NECESSARY
APPLICATIONS TO AND PROCURE ALL NECESSARY CONSENTS AND APPROVALS OF THE
APPLICABLE GAMING AUTHORITIES TO THE: (I) PLEDGE OF THE STOCK OF MPI, SGLVI,
PIDI, SDI AND SGFI, PURSUANT TO THE STOCK PLEDGES, (II) THE RESTRICTIONS ON
TRANSFER AND HYPOTHECATION OF THE STOCK OF MPI, SGLVI, PIDI, SDI AND SGFI,
CONTAINED IN SECTIONS 6.12(A) AND 7.01(S), AND (III) THE TERMS SET FORTH IN THE
CREDIT AGREEMENT AND EACH OF THE LOAN DOCUMENTS, TO THE EXTENT WHICH MAY BE
REQUIRED BY THE WEST VIRGINIA GAMING AUTHORITIES AND/OR THE PENNSYLVANIA GAMING
AUTHORITIES; AND
B.
BORROWERS SHALL COMPLY IN ALL MATERIAL
RESPECTS WITH ALL APPLICABLE STATUTES, RULES AND REGULATIONS REQUIRING REPORTS
AND DISCLOSURES TO ALL APPLICABLE GAMING AUTHORITIES, INCLUDING, BUT NOT LIMITED
TO, REPORTING THIS CREDIT FACILITY TRANSACTION, WITHIN THE TIME PERIOD REQUIRED
BY REGULATION 8.130(2) OF THE REGULATIONS OF NEVADA GAMING COMMISSION AND STATE
GAMING CONTROL BOARD AND AS MAY BE REQUIRED BY THE WEST VIRGINIA GAMING
AUTHORITIES AND/OR THE PENNSYLVANIA GAMING AUTHORITIES.
SECTION 5.19.
TRADENAMES, TRADEMARKS AND
SERVICEMARKS.
BORROWERS SHALL NOT ASSIGN OR IN ANY OTHER MANNER ALIENATE THEIR
RESPECTIVE INTERESTS IN ANY MATERIAL TRADENAMES, TRADEMARKS OR SERVICEMARKS
RELATING OR PERTAINING TO THE HOTEL/CASINO FACILITIES DURING THE TERM OF THE
BANK FACILITIES.
NO BORROWER SHALL CHANGE ITS NAME WITHOUT FIRST GIVING AT
LEAST THIRTY (30) DAYS PRIOR WRITTEN NOTICE TO AGENT BANK.
SECTION 5.20.
NOTICE OF HAZARDOUS MATERIALS.
WITHIN
TEN (10) DAYS AFTER AN EXECUTIVE OFFICER OF ANY OF THE BORROWERS SHALL HAVE
OBTAINED ACTUAL KNOWLEDGE THEREOF, BORROWERS SHALL PROMPTLY ADVISE AGENT BANK
AND EACH OF THE LENDERS IN WRITING OF AND DELIVER A COPY OF: (A) ANY AND ALL
ENFORCEMENT, CLEAN-UP, REMOVAL OR OTHER GOVERNMENTAL OR REGULATORY ACTIONS
INSTITUTED OR THREATENED BY ANY GOVERNMENTAL AGENCY PURSUANT TO ANY APPLICABLE
FEDERAL, STATE OR LOCAL LAWS, ORDINANCES OR REGULATIONS RELATING TO ANY
HAZARDOUS MATERIALS (AS DEFINED IN THE ENVIRONMENTAL CERTIFICATE) AFFECTING THE
COLLATERAL PROPERTIES ("HAZARDOUS MATERIALS LAWS"); (B) ALL