Page 9 - The Pitons Cup Slot Licensing Agreement

47. Whenever the term “Slot Licensee” is used in this License Agreement, it means any person or entity
holding a share, right or interest in the Slot License (including the right to direct the manner in which
the Slot Licensee exercises its rights under this Slot License) at any time and their heirs,
representatives, successors and assigns and the Slot Licensee that is a party to this License
Agreement is liable for the actions and omissions of any such persons or entities.

48. All these terms and conditions are agreed by the Slot Licensors and the Slot Licensee and this
License Agreement and the Rules and Regulations of Racing contain the entire agreement between
the Slot Licensors on the one hand and the Slot Licensee on the other with respect to its subject
matter. It sets out the only conduct relied on by those parties and supersedes all earlier conduct by
the parties with respect to its subject matter. This License Agreement may be executed in any
number of counterparts. All counterparts taken together will be taken to constitute one agreement.

49. Any dispute arising out of or in connection with this agreement, including any question regarding its
existence, validity or termination, shall be referred to and finally resolved by arbitration in London,
United Kingdom, under the London Court of International Arbitration Rules, which Rules are
deemed to be incorporated by reference into this clause. This agreement shall be governed by and
construed in accordance with the law of England and Wales.

50. For the purposes of clause 30, an Insolvency Event occurs in respect of the Slot Licensee if any
one or more of the following events occurs:
a. a resolution is passed for the winding up of the Slot Licensee (other than for the
purposes of reconstruction or amalgamation, which, in the case of a party, is on terms
which have been previously approved in writing by the Slot Licensors);
b. a liquidator, provisional liquidator or receiver or receiver and manager, voluntary
administrator, or administrator of a deed of company arrangement is appointed to all
or any part of the property of the Slot Licensee;
c. a receiver, receiver and manager, voluntary administrator or an administrator of a deed
of company arrangement, is appointed to, or a mortgagee takes possession of, all or
any part of the business or assets of the Slot Licensee;
d. the Slot Licensee makes any composition or arrangement or assignment with or for the
benefit of its creditors;
e. the Slot Licensee or any creditor appoints a voluntary administrator or a resolution is
passed for that person to execute a deed of company arrangement;
f. the Slot Licensee ceases, or threatens to cease to carry on its business;
g. the Slot Licensee becomes unable to pay its debts as and when they become due; or
h. any event analogous or equivalent to the events described in sub-clauses 50(a) to 50(g)
above occurs in respect of the Slot Licensee.

2019 Slot License Agreement 9|Page