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Through its partnership with Melco Resorts and Entertainment (Philippines) Corporation, a leading developer, owner and operator of casino.


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BELLE CORPORATION, a corporation duly organized and existing under and by virtue Parties and SM Subsidiaries relating to the Project or the Casino License​. The Consultant shall not undertake any services or accept any employment.


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Mass Market Revenue is revenue generated from the Mass Market business. Each Party may execute this Agreement by signing any such counterpart. The Party suffering any event of Force Majeure shall notify the other Party in writing as soon as possible after the occurrence of Force Majeure and shall to the extent that it is capable of doing so, use its best endeavors to remove or remedy such cause of non-performance or delay in performance hereunder. Fixed Assets. MCE Leisure must not enter into any Contract outside the ordinary course of the operation and management of the Project with an aggregate contract value of more than U. If a word or phrase is defined, its other grammatical forms have corresponding meanings. Save where the contrary is indicated, any reference to this Agreement or any other agreement or document shall be construed as a reference to this Agreement, or other agreement or document as the same may have been, or may from time to time be subject to any restrictions therein , amended, varied, novated, supplemented, replaced or substituted, and shall include all the schedules, annexes, exhibits and supplements to all of the foregoing. The Philippines Parties shall not be liable to fund Working Capital and Inventories except if required to do so under the Cooperation Agreement. Example of an Appropriate Allocation method. Part A. Computation for the relevant part of the Fiscal Period. Client Database. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, and all of which together shall constitute one and the same agreement. MCE Leisure shall, in its sole discretion and in compliance with Applicable Laws, be responsible for the hiring, promotion, supervision and discharge of all personnel working on the Project other than those personnel engaged in the construction of the Phase 1 Building and Phase 2 Building. MCE Leisure shall provide the funds necessary to supply the Project with furniture, fittings and equipment as reasonably determined by it to be adequate for the proper and efficient operation of the Project, except to the extent such funds are required to be spent, or the amount of such funds is increased, directly or indirectly as a result of a breach by any of the Philippine Parties of any Transaction Document or Ancillary Document or by any of the Philippine Parties causing whether by act or omission MCE Leisure to breach any Applicable Laws or financing agreement to which it is a party. Unless defined in this Agreement including, for the avoidance of doubt Schedule 2 , capitalized terms have the meaning ascribed to such terms in the Cooperation Agreement. Schedule 2. References to statutory provisions shall be construed as references to those provisions as amended or re-enacted or as their application is modified by other statutory provisions whether before or after the date hereof from time to time and shall include any statutory provision of which they are re-enactments whether with or without modification. Audit accounts payments. Gross Win and Non-Gaming Revenue. Evidence of calculation. MCE Leisure shall be liable for and must pay all of the costs and expenses in relation to the operation, management and maintenance other than costs the Philippine Parties are liable to pay under this or any other Transaction Document of the Project. The headings in this Agreement are inserted for convenience only and shall not affect the interpretation of this Agreement. The Licensees agree that if the Final Payment Amount:. Principles and Other Matters. Unless the context requires otherwise, words imputing the singular include the plural and vice versa, and words importing a gender include every gender. Schedule 1. The Parties agree that:. Non-Gaming Expenses means all operating costs and expenses directly identifiable to Non Gaming including hotel, food and beverage and non-gaming departments and the allocation of Property Overheads to Non-Gaming. The Parties agree that, if Sections This Agreement shall be governed by, and construed in accordance with, the laws of the Republic of the Philippines. The Licensees and MCE Leisure acknowledge and agree that the Annual Operating Budgets are merely forecasts of operating revenues and expenses for a Fiscal Year and are not a guarantee of future revenues. The Licensees shall do all things reasonably required by MCE Leisure including providing any information requested by a Government Authority to assist MCE Leisure and any of its Affiliates to comply with any Applicable Law including the Casino License and the requirements, rules and regulations of any Government Authority.

Exhibit 4. Such directly identifiable costs include but are not limited to the costs listed in the table below.

The following Schedules form integral parts of this Agreement:. Contracts, Equipment Leases and Other Agreements.

MCE Leisure has agreed to operate and manage the Project on the terms of this Agreement for the purposes of generating revenue. Budget Consultations. Sections 9. If at the end of the Suspension Period the Casino License has not been restored to the Licensees this Agreement will automatically terminate.

Mass Market Gross Win. Non-Negotiable Chips are promotional casino chips that are used to track the amount wagered and are not exchangeable for cash. Despite any provision of belle corporation casino careers Agreement to the contrary, MCE Leisure shall not be liable for any Loss suffered or incurred by any of the Philippine Parties or MCE Parties, arising out of or in connection with, or to the extent such Loss is contributed to, or increased by, any breach by MCE Leisure of this Agreement, in each case where such breach arises directly or indirectly out of, or in connection with, or is caused by, a breach by any of the Philippine Parties or MCE Parties as applicable of any Transaction Document or Ancillary Document or by any of the Philippine Parties or MCE Parties as applicable causing whether by act or omission MCE Leisure to breach any Applicable Laws or financing agreement to which it is a party.

This Agreement shall not constitute any Party hereto as a legal representative or agent of the other, nor shall any Party have the right or authority to assume, create or incur any liability $500 nations casinos any obligation of any kind, express or implied, against or in the name of or on behalf of the other Party.

Budget Revisions. Part D. Part C. MCE Leisure shall use such care when hiring any employees as may be common to the casino and hospitality business and consistent with the standards of operation of MCE Leisure.

Use of Land and Building Structures. MCE Leisure shall be liable for payment of:. MCE Leisure shall, in its sole discretion:. Employee Hiring and Termination. Such directly identifiable costs include direct and indirect incremental costs of operating general Casino departments, executive and senior management oversight of the Casino areas, marketing the overall Casino areas, costs of compliance with Casino agreements and laws and regulations, casino west hollywood gaming audits and internal control reviews, maintaining assets for the benefit of the overall Casino areas, costs for the general click to see more, maintenance and control of the overall Casino common areas, other Casino regulatory and licensing costs; and other general Casino expenses but excluding rent under the Belle Lease, interest income, interest expense, depreciation and amortization expenses, real estate and income taxes if any.

No rule belle corporation casino careers construction will apply to a Section to the disadvantage of a Party merely because that Party put forward the Section or would otherwise benefit from it. MCE Leisure remains liable for the performance and discharge of all obligations to be performed by it under this Agreement despite another Person being designated by MCE Leisure to perform or discharge those obligations or another Person entering into Contracts relating to the operation or management of the Project.

Calculation of Monthly Mass Payment. MCE Leisure, or its designated entities, casino bets be the employer of the personnel hired for the Project.

Part B. The Licensees other than MCE Leisure agree that MCE Leisure may cause or arrange to be provided to the Project certain services which are provided generally on a central or regional basis to other projects or other properties either managed or operated by MCE Leisure or its Affiliates, including:.

This Agreement may only be terminated:. Each representation and warranty shall survive the termination of this Agreement. Costs, Benefit Plans. Standard of Care. Payment of License Fees and Expenses. For the avoidance of doubt, the Philippine Parties shall have, and assume, no responsibility whatsoever under this Agreement for the operation and management of the Project.

The Property Overheads are those operating costs and expenses directly identifiable to common areas and shared and centralized services that are necessary to operate belle corporation casino careers Project that are not directly identifiable to Gaming or Non-Gaming.

Repairs and Maintenance. The allocation methods will be determined monthly based on actual results of the month.

MCE Leisure may consult with the other Licensees on matters of policy concerning management, sales, room rates, wage scales, personnel, general overall operating procedures, economics and operation and other matters affecting the operation of the Project, but it has no obligation to do so. The Gross Win shall be the amount of wagers won net of wagers lost that is retained and recorded as Casino revenue plus or minus the amount of any jackpot decrement or increment for the relevant period.

The Licensees agree that, for the avoidance of doubt, the costs and expenses paid or incurred by MCE Leisure in relation to the operation and management and maintenance of the Casino shall be allowed as a deduction in the calculation of the relevant Casino Gaming EBITDA as provided in Schedule 2.

General Powers. To be effective, any waiver of any right hereunder shall be in belle corporation casino careers and be signed by a duly authorized officer or representative of the Party bound thereby.

For the avoidance of doubt, MCE Leisure shall not be liable for the payment of real property taxes on the Land and Building Structures, which Belle shall be liable for and shall promptly pay.

Any action or agreement by the Parties to modify this Agreement, in whole or in part, shall be binding upon the Parties, so long as such modification agreement is in writing and is executed by all of the Parties with the same formality with which this Agreement was executed. No failure or delay on the part of any Party to exercise any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy hereunder preclude any other or further exercise thereof or the exercise of any other right or remedy granted hereby or by any related document. The Mass Market Direct Expenses shall be all operating costs and expenses incurred that are directly identifiable with the Mass Market business. The Philippine Parties shall do all things reasonably required by MCE Leisure to contribute to the development of, and to assist in the population of, the Client Database including providing names and details of persons for inclusion in that database. MCE Leisure shall use the Land and Building Structures solely for the operation and management of the Project and for all casino gaming, hotel, retail, and other non-gaming, and other related or ancillary commercial and other activities related to, desirable for, or incidental to, the Project. Surety Bond. Non-Gaming means all revenue generated from operations of the Casino other than Gaming. Each of the representations and warranties herein is deemed to be a separate representation and warranty and each of the Philippine Parties, MCE Parties and MCE Leisure has placed complete reliance thereon in agreeing to execute this Agreement. The Licensees agree that if, for any reason, the Monthly Mass Payment is a negative amount, the Monthly Mass Payment for the relevant calendar month will be deemed to be nil. This Agreement shall take effect on the date of execution of this Agreement by each of the Parties. If this Agreement is terminated:. For avoidance of doubt, the Licensees agree that repair and maintenance costs to be allocated to the Casino are allowed as deductions in the calculation of the relevant Casino Gaming EBITDA as provided in Schedule 2. Working Capital and Inventories. The invalidity of any Section or portion thereof of this Agreement shall not affect the remaining sections of this Agreement, all of which shall continue in full force and effect and shall be construed as if the invalid Section or portion thereof had not been inserted. Principles of Construction. The Parties agree to execute or cause to be executed such additional agreements and documents, and to take such other actions, as may be necessary to affect the purposes of this Agreement. The table below illustrates an example of the methodology for allocating the costs. Property Overhead Allocation Process - Property overheads will be allocated between the Mass Market, the VIP Market and the Non-Gaming business segments on a basis that is fair and reasonable that takes into account where feasible the relative proportion of use, whether time, effort or other driver determining usage and services devoted to those business segments. Defined Terms. The Licensees are the named licensees and holders of the Casino License. MCE Leisure shall be entitled to treat, as a deduction in the calculation of the relevant Casino Gaming EBITDA as provided in Schedule 2 , all complimentary hotel rooms, food and beverage, and other non-gaming services used at competitive market rates and shall be allowed to offer benefits to clients in a such a manner it deems appropriate. Timing of payments. MCE Leisure agrees it will not charge to the Project the costs of any consultants engaged by any Affiliate of it for the purpose of preparing any consolidated audited accounts required to be prepared by that Affiliate. Audit and Gaming Reports.