Section 3.06 Notes Redeemed or Purchased in Part.
Upon surrender of a Note that is redeemed or purchased in part, the Company will issue and, upon receipt of an Authentication Order, the
Trustee will authenticate for the Holder at the expense of the Company a new Note equal in principal amount to the unredeemed or unpurchased portion of the Note surrendered.
Section 3.07 Optional Redemption.
(a) The Company has the option to redeem the Notes, in whole or in part, upon not less than 30 nor more than 60 days notice, at the
redemption prices set forth in Paragraph 5 of the form of Note set forth in Exhibit A hereto, which are hereby incorporated by reference and made a part of this Indenture, together with accrued and unpaid interest, if any, to the applicable
(b) Any redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of Section 3.01
through 3.06 hereof.
Restrictions on the transfer of the Capital Stock of the Companys Subsidiaries licensed in certain
jurisdictions, and agreements not to encumber such Capital Stock, in each case, in respect of the Notes, are not effective without the prior approval of the applicable Gaming Authorities. No Subsidiary shall be subject to such restrictions until the
earlier of such time as (1) approval of such restrictions with respect to such Subsidiary is received from the applicable Gaming Authorities or (2) a registered public offering of the Notes is made pursuant to a prior approval of the
applicable Gaming Authorities. All required approvals have been obtained as of the Issue Date with respect to the Companys existing Subsidiaries.
By accepting a Note, each Holder or beneficial owner of a Note will be agreeing to comply with all requirements of the Gaming Laws and Gaming
Authorities in each jurisdiction where the Company and its Affiliates are licensed or registered under applicable Gaming Laws or conduct gaming activities, and that the Notes held by such Holder or owner will be subject to redemption pursuant to
Section 4.20 hereof or as otherwise required pursuant to applicable Gaming Laws or by Gaming Authorities.
Except as described under Sections 4.10 and 4.15 hereof, the Company is not required to make
mandatory redemption or sinking fund payments with respect to the Notes.
Section 3.09 Offer to Purchase by Application of Excess
In the event that, pursuant to Section 4.10 hereof, the Company is required to commence a Net Proceeds Offer,
it will follow the procedures specified below.
The Net Proceeds Offer will remain open for a period of at least 20 Business Days
following its commencement and not more than 30 Business Days, except to the extent that a longer period is required by applicable law (the Offer Period). The Net Proceeds Offer Payment Date shall be no later than five Business
Days after the termination of the Offer Period. On the Net Proceeds Offer Payment Date, the Company shall purchase the principal amount of Notes required to be purchased pursuant to Section 4.10 hereof. Payment for any Notes so purchased shall
be made in the same manner as interest payments are made.