MNTG » Topics » Master Lease

This excerpt taken from the MNTG 8-K filed Jan 15, 2008.
“Master Lease” has the meaning ascribed to it in Section 7.1(c).

 

 

 



 

Non-Monetary Defect” has the meaning ascribed to it in Section 4.2.

 

Notice Period” has the meaning ascribed to it in Section 4.2.

 

NRS” means the Nevada Revised Statutes.

 

Permitted Exceptions” has the meaning ascribed to it in Section 4.1.

 

Person” means an individual, partnership, corporation, business trust, joint stock company, trust, unincorporated association, joint venture, limited liability company, limited liability partnership, governmental authority or other entity of whatever nature.

 

Purchase Price” has the meaning ascribed to it in Section 3.4.

 

Purchaser” has the meaning ascribed to it in the introductory paragraph.

 

Purchaser’s Closing Deliveries” has the meaning ascribed to it in Section 7.2.

 

Ramada” has the meaning ascribed to it in Section 20.

 

Ramada Agreements” shall mean the License Agreement dated as of September 4, 1998, as amended as of March 22, 1999, and as further amended as of January 27, 2005, by and between Ramada Franchise Systems, Inc., Speakeasy Gaming of Las Vegas, Inc., and MTR Gaming Group, Inc., and the ancillary agreements executed in connection therewith, relating to a license to operate a Ramada® System Unit located at 3227 Civic Center Drive, Las Vegas, NV 89030, designated as Unit #5692-85312.

 

Real Property” has the meaning ascribed to it in Recital A.

 

Recognized Environmental Condition” shall mean the presence or likely presence of any Hazardous Substance on the Real Property under conditions that indicate an existing release, a past release or a material threat of release of any Hazardous Substance into structures on the Real Property or into the ground, groundwater or surface water of the Real Property.

 

Seller” has the meaning ascribed to it in the introductory paragraph.

 

Seller’s Affiliates” has the meaning ascribed to it in Section 5.14(b).

 

Seller’s Closing Deliveries” has the meaning ascribed to it in Section 7.1.

 

Survey” has the meaning ascribed to it in Section 4.1.

 

Taxes” means any and all taxes, charges, fees, levies, tariffs, duties, liabilities, impositions or other assessments of any kind (together with any and all interest, penalties, additions to tax and additional amounts imposed with respect thereto) imposed by any tax authority or other Governmental Authorities, including income, gross receipts, profits, gaming, excise, real or personal property, environmental, sales, use, value-added, ad valorem, withholding, social security, retirement, employment, unemployment, workers’ compensation, occupation, service, license, net worth, capital stock, payroll, franchise, gains, stamp, transfer

 

 

 



 

taxes and shall include any Liability for the taxes of any other Person under Treasury Regulation Section 1.1502-6 (or any similar provision of state, local or foreign law), or as a transferee or successor, by contract, or otherwise.

 

Title Insurance Company” shall mean Nevada Title Company, 2500 N. Buffalo, Suite 150, Las Vegas, Nevada 89128 (Attention: Troy Lochhead) or such other nationally recognized title insurance company that may be designated by Purchaser.

 

Title Report” has the meaning ascribed to it in Section 4.1.

 

Title Policy” has the meaning ascribed to it in Section 8.1(c).

 

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