These excerpts taken from the PENN 8-K filed Oct 4, 2005.
Permits), necessary to conduct the business and operations conducted at the Property, except for such Permits, the failure of which to hold, would not reasonably be expected to have, individually or in the aggregate, an ACBR Material Adverse Effect (the
Permits), except for Permits the failure of which to obtain would not have a Material Adverse Effect. None of the Permits has been modified in any way since the Closing Date that would have a Material Adverse Effect. Except as set forth on Schedule 8.15, all Permits are in full force and effect except where the failure to be in full force and effect would not have a Material Adverse Effect. Except as set forth on Schedule 8.15, neither Borrower nor any of its Restricted Subsidiaries has received written notice that any Gaming Authority has commenced proceedings to suspend, revoke or not renew any such Permits where such suspensions, revocations or failure to renew would have a Material Adverse Effect.