Common use of Change Events Clause in Contracts

Change Events. The Parties recognize and acknowledge that, over the Term, achievement of the Principle of First Nations Gaming Revenue Sharing may be adversely impacted by various acts or omissions of the Province (each a “Change Event”). Change Events include, for example, the following:‌ (a) the Province replacing BCLC, in whole or in part, with an Other Agent of the Province including where the Province receives revenues from Provincial Gaming from an Other Agent of the Crown and such revenues are not included in the calculation of the Annual Revenue Sharing Entitlement; (b) the Province amending or repealing the Gaming Control Act, or enacting, amending or repealing any other legislation or regulation, if such enactment, amendment or repeal has the effect of materially reducing or eliminating the Annual Revenue Sharing Entitlement; or‌ (c) the Province imposing a tax, fee or regulation on gaming activity that has the effect of materially reducing or eliminating the Annual Revenue Sharing Entitlement.