THE REMODEL PROJECTS SHOWN ON THE SCHEDULE OF REMODEL PROJECTS,
SCHEDULE 6.04 AFFIXED HERETO.
SECTION 6.05.
INVESTMENT RESTRICTIONS.
OTHER THAN INVESTMENTS PERMITTED
HEREIN OR APPROVED IN WRITING BY REQUISITE LENDERS, THE BORROWER SHALL NOT MAKE
ANY INVESTMENTS (WHETHER BY WAY OF LOAN, STOCK PURCHASE, CAPITAL CONTRIBUTION,
OR OTHERWISE) OTHER THAN THE FOLLOWING:
(A)
CASH, CASH EQUIVALENTS AND DIRECT OBLIGATIONS OF THE UNITED STATES
GOVERNMENT;
(B)
PRIME COMMERCIAL PAPER (AA RATED OR BETTER);
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(C)
CERTIFICATES OF DEPOSIT OR REPURCHASE AGREEMENT ISSUED BY A
COMMERCIAL BANK HAVING CAPITAL SURPLUS IN EXCESS OF ONE HUNDRED MILLION DOLLARS
($100,000,000.00);
(D)
MONEY MARKET OR OTHER FUNDS OF NATIONALLY RECOGNIZED INSTITUTIONS
INVESTING SOLELY IN OBLIGATIONS DESCRIBED IN (A), (B) AND (C) ABOVE;
(E)
LOANS AND ADVANCES TO EMPLOYEES IN THE ORDINARY COURSE OF BUSINESS
NOT EXCEEDING ONE MILLION DOLLARS ($1,000,000.00) IN THE AGGREGATE AT ANY ONE
TIME;
(F)
INVESTMENTS AND MAINTENANCE CAPITAL EXPENDITURES IN THE HOTEL/CASINO
FACILITY TO THE EXTENT PERMITTED IN SECTION 6.04 HEREINABOVE; AND
(G)
SHARE REPURCHASES TO THE EXTENT PERMITTED AS DISTRIBUTIONS UNDER
SECTION 6.06.
SECTION 6.06.
LIMITATION ON DISTRIBUTIONS.
THE BORROWER SHALL NOT PAY
AND DISBURSE ANY DISTRIBUTIONS OTHER THAN AS SPECIFICALLY PERMITTED HEREINBELOW:
(A)
SO LONG AS NO DEFAULT OR EVENT OF DEFAULT HAS OCCURRED AND REMAINS
CONTINUING OR WOULD RESULT FROM THE PAYMENT OR DISBURSEMENT OF SUCH
DISTRIBUTION, THE BORROWER MAY MAKE DISTRIBUTIONS, INCLUDING SHARE REPURCHASES,
UP TO THE MAXIMUM CUMULATIVE AGGREGATE AMOUNT OF THREE MILLION DOLLARS
($3,000,000.00) DURING EACH FISCAL YEAR, SO LONG AS EACH PROPOSED DISTRIBUTION
WILL NOT RESULT IN A VIOLATION OF THE ADJUSTED FIXED CHARGE COVERAGE RATIO TO BE
CALCULATED ON A PRO FORMA BASIS AS IF SUCH DISTRIBUTION HAD BEEN MADE DURING THE
MOST RECENTLY ENDED FISCAL QUARTER.
(B)
NOTWITHSTANDING THE LIMITATION SET FORTH IN (A) ABOVE, IN THE EVENT
THAT BORROWER FUNDS LESS THAN THREE MILLION DOLLARS ($3,000,000.00) IN
DISTRIBUTIONS DURING ANY FISCAL YEAR (SUCH UNFUNDED AMOUNTS BEING HEREIN
COLLECTIVELY REFERENCED AS THE "DISTRIBUTION CARRYOVER"), BORROWER MAY
THEREAFTER FUND IN ADDITION TO THE MAXIMUM CUMULATIVE AGGREGATE PERMITTED IN
(A) ABOVE, AN ADDITIONAL AMOUNT OF UP TO THE AMOUNT OF THE DISTRIBUTION
CARRYOVER OUTSTANDING AS OF THE DATE OF SUCH ADDITIONAL DISTRIBUTION, SO LONG AS
AT LEAST THIRTY (30) CALENDAR DAYS PRIOR TO THE FUNDING OF SUCH DISTRIBUTION AN
AUTHORIZED OFFICER CERTIFIES TO AGENT BANK IN WRITING THAT SUCH DISTRIBUTION
WILL NOT RESULT IN A VIOLATION OF THE FIXED CHARGE COVERAGE RATIO AT THE END OF
THE FISCAL QUARTER DURING WHICH SUCH DISTRIBUTION IS MADE NOR AS OF THE END OF
EACH FISCAL QUARTER REMAINING DURING THE FISCAL YEAR DURING WHICH SUCH
DISTRIBUTION IS MADE.
(C)
NOTWITHSTANDING THE LIMITATIONS SET FORTH IN (A) AND (B) ABOVE, IN
THE EVENT BORROWER ACHIEVES A TOTAL LEVERAGE RATIO OF 1.75 TO 1.00 OR LESS AS OF
THE
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END OF ANY FISCAL QUARTER DETERMINED WITH RESPECT TO SUCH FISCAL QUARTER AND THE
MOST RECENTLY ENDED THREE (3) PRECEDING FISCAL QUARTERS, THE LIMITATIONS SET
FORTH IN (A) AND (B) SHALL BE SUSPENDED UNTIL THE BORROWER REALIZES A TOTAL