13Application of casino earnings if licence cancelled etc.

13 Application of casino earnings if licence cancelled etc.

(1) If, while the Master Security Agreement (within the meaning of the Agreement) is in force, there is a manager of the Melbourne casino (within the meaning of the Agreement) appointed under section 22 of the Casino Control Act 1991, the net earnings of the casino must be applied in accordance with clause 4.1(b) to (f) of the Master Security Agreement.

(2) In subsection (1), net earnings means gross gaming revenue (as defined in the Master Security Agreement) less casino taxes (as so defined) and operating expenses, other than interest and financing costs.