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
77
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 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.
INTENTIONALLY OMITTED.
SECTION 4.16.
INTENTIONALLY OMITTED.
SECTION 4.17.
GAMING PERMITS AND APPROVALS.
ALL GAMING PERMITS
REQUIRED TO BE HELD BY BORROWERS ARE CURRENT AND IN GOOD STANDING AND BORROWERS
PRESENTLY HOLD ALL GAMING PERMITS NECESSARY FOR THE CONTINUED OPERATION OF THE
HOTEL/CASINO FACILITIES.
SECTION 4.18.
ENVIRONMENTAL CERTIFICATE.
THE REPRESENTATIONS AND
CERTIFICATIONS CONTAINED IN THE ENVIRONMENTAL CERTIFICATE ARE TRUE AND CORRECT
IN ALL MATERIAL RESPECTS.
SECTION 4.19.
INVESTMENT COMPANY ACT.
EACH BORROWER IS NEITHER AN
"INVESTMENT COMPANY" NOR A COMPANY "CONTROLLED" BY AN "INVESTMENT COMPANY,"
WITHIN THE MEANING OF THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED.
SECTION 4.20.
PUBLIC UTILITY HOLDING COMPANY ACT.
EACH BORROWER IS
NEITHER A "HOLDING COMPANY," NOR A "SUBSIDIARY COMPANY" OF A "HOLDING COMPANY,"
NOR AN "AFFILIATE" OF A "HOLDING COMPANY" NOR OF A "SUBSIDIARY COMPANY" OF A
"HOLDING COMPANY," WITHIN THE MEANING OF THE PUBLIC UTILITY HOLDING COMPANY ACT
OF 1935, AS AMENDED.
SECTION 4.21.
LABOR RELATIONS.
THERE IS NO STRIKE OR WORK STOPPAGE IN
EXISTENCE, OR TO THE BEST KNOWLEDGE OF BORROWERS THREATENED, INVOLVING ANY
BORROWER OR THE HOTEL/CASINO FACILITIES THAT REASONABLY WOULD BE EXPECTED TO
RESULT IN A MATERIAL ADVERSE CHANGE.
SECTION 4.22.
TRADEMARKS, PATENTS, LICENSES, FRANCHISES, FORMULAS AND
COPYRIGHTS.
EXCEPT AS DISCLOSED IN SCHEDULE 4.22, AFFIXED TO THE EXISTING