LOAN IN ACCORDANCE WITH THEIR TERMS AT ANY TIME.
(G)
LICENSING OF ADMINISTRATIVE AGENT AND
LENDERS.
IN THE EVENT OF THE OCCURRENCE OF AN EVENT OF DEFAULT HEREUNDER OR
UNDER ANY OF THE LOAN DOCUMENTS AND IT SHALL BECOME NECESSARY, OR IN THE OPINION
OF REQUIRED LENDERS ADVISABLE, FOR AN AGENT, SUPERVISOR, RECEIVER OR OTHER
REPRESENTATIVE OF ADMINISTRATIVE AGENT AND LENDERS TO BECOME LICENSED UNDER THE
PROVISIONS OF THE LAWS AND/OR REGULATIONS OF ANY GAMING AUTHORITY AS A CONDITION
TO RECEIVING THE BENEFIT OF ANY COLLATERAL ENCUMBERED BY THE MORTGAGES OR OTHER
LOAN DOCUMENTS FOR THE BENEFIT OF LENDERS OR OTHERWISE TO ENFORCE THEIR RIGHTS
HEREUNDER, BORROWER HEREBY GIVES ITS CONSENT TO THE GRANTING OF SUCH LICENSE OR
LICENSES AND AGREES TO EXECUTE SUCH FURTHER DOCUMENTS AS MAY BE REQUIRED IN
CONNECTION WITH THE EVIDENCING OF SUCH CONSENT.
(H)
EXERCISE OF RIGHTS SUBJECT TO APPLICABLE
LAW.
ALL RIGHTS, REMEDIES AND POWERS PROVIDED BY THIS ARTICLE VIII MAY BE
EXERCISED ONLY TO THE EXTENT THAT THE EXERCISE THEREOF DOES NOT VIOLATE ANY
APPLICABLE PROVISION OF THE LAWS OF ANY GOVERNMENTAL BODY AND ALL OF THE
PROVISIONS OF THIS ARTICLE VIII ARE INTENDED TO BE SUBJECT TO ALL APPLICABLE
MANDATORY PROVISIONS OF LAW THAT MAY BE CONTROLLING AND TO BE LIMITED TO THE
EXTENT NECESSARY SO THAT THEY WILL NOT RENDER THIS AGREEMENT INVALID,
UNENFORCEABLE OR NOT ENTITLED TO BE RECORDED OR FILED UNDER THE PROVISIONS OF
ANY APPLICABLE LAW.
ARTICLE IX
ADMINISTRATIVE AGENT
SECTION 9.1.
APPOINTMENT OF ADMINISTRATIVE
AGENT.
ALADDIN IS HEREBY APPOINTED ADMINISTRATIVE AGENT HEREUNDER AND UNDER
EACH OTHER LOAN DOCUMENT, AND EACH LENDER HEREBY AUTHORIZES ALADDIN TO ACT AS
ITS AGENT IN ACCORDANCE WITH THE TERMS HEREOF AND THE OTHER LOAN DOCUMENTS.
ADMINISTRATIVE AGENT HEREBY AGREES TO ACT UPON THE EXPRESS CONDITIONS CONTAINED
HEREIN AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE.
THE PROVISIONS OF THIS
ARTICLE IX ARE SOLELY FOR THE BENEFIT OF ADMINISTRATIVE AGENT AND THE LENDERS
AND NO CREDIT PARTY SHALL HAVE ANY RIGHTS AS A THIRD-PARTY BENEFICIARY OF ANY OF
THE PROVISIONS THEREOF.
IN PERFORMING ITS FUNCTIONS AND DUTIES HEREUNDER,
ADMINISTRATIVE AGENT SHALL ACT SOLELY AS AN AGENT OF THE LENDERS AND DOES NOT
ASSUME, AND SHALL NOT BE DEEMED TO HAVE ASSUMED, ANY OBLIGATION TOWARDS OR
RELATIONSHIP OF AGENCY OR TRUST WITH OR FOR THE BORROWER OR ANY OF ITS
SUBSIDIARIES.
ADMINISTRATIVE AGENT, WITHOUT CONSENT OF OR NOTICE TO ANY PARTY
HERETO, MAY ASSIGN ANY AND ALL OF ITS RIGHTS OR OBLIGATIONS HEREUNDER TO ANY OF
ITS AFFILIATES.
SECTION 9.2.
POWERS AND DUTIES.
EACH LENDER
IRREVOCABLY AUTHORIZES ADMINISTRATIVE AGENT TO TAKE SUCH ACTION ON SUCH LENDER'S
BEHALF AND TO EXERCISE SUCH POWERS, RIGHTS AND
77
REMEDIES HEREUNDER AND UNDER THE OTHER LOAN DOCUMENTS AS ARE SPECIFICALLY
DELEGATED OR GRANTED TO ADMINISTRATIVE AGENT BY THE TERMS HEREOF AND THEREOF,
TOGETHER WITH SUCH POWERS, RIGHTS AND REMEDIES AS ARE REASONABLY INCIDENTAL
THERETO.
ADMINISTRATIVE AGENT SHALL HAVE ONLY THOSE DUTIES AND RESPONSIBILITIES
THAT ARE EXPRESSLY SPECIFIED HEREIN AND THE OTHER LOAN DOCUMENTS.
ADMINISTRATIVE AGENT MAY EXECUTE ANY