Common use of Material Authorizations Clause in Contracts

Material Authorizations. 8.1.22.1 The Borrower and each Guarantor possess all Material Authorizations required to (i) own the Casino Facilities currently owned or contemplated herein to be acquired and (ii) conduct the Business as currently conducted or as contemplated herein to be conducted. 8.1.22.2 Except as set forth on Schedule 8.1.22 or as otherwise disclosed to the Administrative Agent from time to time in accordance with Section 9.1.4, all Material Authorizations referred to in Section 8.1.22.1 are in full force and effect, no such Material Authorization is subject to any material dispute, and no material breach, non-compliance or default has occurred and is continuing in respect of any such Material Authorization.