OR OTHER FEE, COMMISSION OR COMPENSATION IS TO BE PAID
BY BANKS WITH RESPECT TO THE EXTENSIONS OF CREDIT CONTEMPLATED HEREBY AND
BORROWERS AGREE TO INDEMNIFY BANKS AGAINST ANY SUCH CLAIMS FOR BROKERAGE FEES OR
COMMISSIONS AND TO PAY ALL EXPENSES INCLUDING, WITHOUT LIMITATION, REASONABLE
ATTORNEY'S FEES INCURRED BY BANKS IN CONNECTION WITH THE DEFENSE OF ANY ACTION
OR PROCEEDING BROUGHT TO COLLECT ANY SUCH BROKERAGE FEES OR COMMISSIONS.
SECTION 4.11.
NO DEFAULTS.
NO BORROWER HAS RECEIVED
ANY NOTICE, DECLARATION OR SIMILAR CORRESPONDENCE OR COMMUNICATION, ORAL OR
WRITTEN, EVIDENCING, DECLARING OR CLAIMING A VIOLATION OF ANY APPLICABLE LAW
AND/OR REGULATIONS, THE VIOLATION OF WHICH MATERIALLY AND ADVERSELY AFFECTS THE
BUSINESS, FINANCIAL CONDITION OR OPERATIONS OF THE HOTEL/CASINO FACILITIES.
BORROWERS ARE NOT IN VIOLATION OR DEFAULT (NOR IS THERE ANY WAIVER IN EFFECT
WHICH, IF NOT IN EFFECT, WOULD RESULT IN A VIOLATION OR DEFAULT) IN ANY MATERIAL
AND ADVERSE RESPECT UNDER ANY INDENTURE, EVIDENCE OF INDEBTEDNESS, LOAN OR
FINANCING AGREEMENT OR OTHER AGREEMENT OR INSTRUMENT OF WHATEVER NATURE TO WHICH
THEY ARE A PARTY OR BY WHICH THEY ARE BOUND (EXCEPT FOR ANY DEFAULTS PREVIOUSLY
BROUGHT TO LENDERS' ATTENTION IN WRITING, FOR WHICH BORROWERS HAVE RECEIVED A
WAIVER FROM REQUISITE LENDERS), A DEFAULT UNDER WHICH WOULD REASONABLY BE
EXPECTED TO RESULT IN A MATERIAL ADVERSE CHANGE.
SECTION 4.12.
EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974.
NO REPORTABLE EVENT HAS OCCURRED AND IS CONTINUING WITH RESPECT TO
ANY PENSION PLAN UNDER ERISA, THAT GIVES RISE TO LIABILITIES THAT WOULD
CONSTITUTE A MATERIAL ADVERSE CHANGE.
SECTION 4.13.
AVAILABILITY OF UTILITY SERVICES.
ALL
UTILITY SERVICES AND FACILITIES NECESSARY FOR THE HOTEL/CASINO FACILITIES AND
THE COLLATERAL PROPERTIES INCLUDING, WITHOUT LIMITATION, ELECTRICAL, WATER, GAS
AND SEWAGE SERVICES AND FACILITIES ARE AVAILABLE AT THE BOUNDARIES OF THE
COLLATERAL PROPERTIES.
SECTION 4.14.
POLICIES OF INSURANCE.
EACH OF THE
COPIES OF THE DECLARATION PAGES, ORIGINAL BINDERS AND CERTIFICATES OF INSURANCE
EVIDENCING THE POLICIES OF INSURANCE RELATING TO THE HOTEL/CASINO FACILITIES
DELIVERED TO AGENT BANK BY BORROWERS (I) IS A TRUE, CORRECT AND COMPLETE COPY OF
THE RESPECTIVE ORIGINAL THEREOF AS IN EFFECT ON THE DATE HEREOF, AND NO
AMENDMENTS OR MODIFICATIONS OF ANY OF SAID DOCUMENTS OR INSTRUMENTS NOT INCLUDED
IN SUCH COPIES HAVE BEEN MADE, AND (II) HAS NOT
102
BEEN TERMINATED AND IS IN FULL FORCE AND EFFECT.
BORROWERS ARE NOT IN DEFAULT
IN THE OBSERVANCE OR PERFORMANCE OF THEIR RESPECTIVE OBLIGATIONS UNDER SAID
DOCUMENTS AND INSTRUMENTS, AND BORROWERS HAVE DONE ALL THINGS REQUIRED TO BE
DONE AS OF THE RESTATEMENT DATE TO KEEP UNIMPAIRED THEIR RESPECTIVE RIGHTS
THEREUNDER.
SECTION 4.15.
SPACELEASES.
A SCHEDULE OF ALL
EXECUTED SPACELEASES PERTAINING TO THE HOTEL/CASINO FACILITY OR ANY PORTION
THEREOF, IN EXISTENCE AS OF THE AMENDMENT EFFECTIVE DATE, ARE SET FORTH ON
SCHEDULES 4.15(A) THROUGH (E) ATTACHED HERETO.
SECTION 4.16.
EQUIPMENT LEASES AND CONTRACTS.
A
SCHEDULE OF ALL EXECUTED EQUIPMENT LEASES AND CONTRACTS PERTAINING TO THE
HOTEL/CASINO FACILITY OR ANY PORTION THEREOF, IN EXISTENCE AS OF THE AMENDMENT
EFFECTIVE DATE, ARE SET FORTH ON SCHEDULES 4.16(A) THROUGH (E)