Common use of Reciprocal Termination Clause in Contracts

Reciprocal Termination. Notwithstanding any other provision of this Agreement to the contrary, each party shall have the right to terminate this Agreement on ninety (90) days prior written notice (or such lesser period mandated by the Board or another gaming regulatory authority) to the other in the event: (a) Any statute, regulation, rule or ruling renders the conduct of gaming in the United States or at the Complex illegal; (b) The Board shall deem Eldorado unsuitable; or (c) upon the occurrence of a “change of control”, as that term is defined in the Amended and Restated Indenture dated as of [__________], 2005 by and among the Owner, Shreveport Capital Corporation, the Eldorado Affiliates and U.S. Bank National Association; provided, however, that so long as Eldorado continues to receive timely payments of the compensation specified in Article Five of this Agreement, unless otherwise required by the Board or another gaming regulatory authority, in no event shall any such termination be effective without the consent of the Owner until such time as a replacement manager has been selected by the Owner and approved by the Board.

Reciprocal Termination. Notwithstanding any other provision of this Agreement to the contrary, each party shall have the right to terminate this Agreement on ninety (90) days prior written notice (or such lesser period mandated by the Board or another gaming regulatory authority) to the other in the event: (a) Any statute, regulation, rule or ruling renders the conduct of gaming in the United States or at the Complex illegal; (b) The Board shall deem Eldorado unsuitable; or (c) upon the occurrence of a “change of control”, as that term is defined in the Amended and Restated Indenture dated as of [__________]July 21, 2005 by and among the Owner, Shreveport Capital Corporation, the Eldorado Affiliates and U.S. Bank National Association; provided, however, that so long as Eldorado continues to receive timely payments of the compensation specified in Article Five of this Agreement, unless otherwise required by the Board or another gaming regulatory authority, in no event shall any such termination be effective without the consent of the Owner until such time as a replacement manager has been selected by the Owner and approved by the Board.