![]() The Partnership hereby represents and warrants to PREIT that all of the Property Options are held (whether through assignment or otherwise) in the name of the Of Alternative Gaming facilities on the Property, the Improvements). License to conduct alternative gaming ( Alternative Gaming) at the Track, the Partnership intends to construct facilities for the operation of Alternative Gaming on the Property (the construction of the Track and the construction ![]() In addition, if the Partnership is awarded a If the Racing License is awarded, the Partnership intends to build the Track on the Property. List of the Property Options, and the material terms of each, is attached hereto as Exhibit ∺. Property) and made an application for a Harness Racing License (the Racing License) in the Commonwealth of Pennsylvania (the facility at which such activities will be conducted, the Track). The Partnership has acquired options (the Property Options) on land in Beaver County, Pennsylvania (the Or more mutually satisfactory formal written agreements embodying the terms of this MOU ( Definitive Agreements), which may also contain additional customary terms and conditions regarding the subject matter hereof.Ģ. ![]() The parties acknowledge that this MOU contains the material business terms of the transaction described herein and that they will use their respective good faith business efforts to enter into one This MOU is LEGALLY BINDING ANDĮNFORCEABLE on the Partnership, Centaur and PREIT. The receipt and sufficiency of which are hereby acknowledged, agree as follows:ġ. Subject to the limitations set forth below, the parties hereto intending to be legally bound hereby, and each having received good and valuable consideration, PR Valley View Downs, L.P., a Pennsylvania limited partnership ( PREIT). ( MOU) is entered into by and between Valley View Downs, LP, a Pennsylvania limited partnership (the Partnership), Centaur Pennsylvania, LLC, an Indiana limited liability company ( Centaur), and
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