Title
A RESOLUTION AUTHORIZING CERTAIN LENDING TRANSACTIONS INVOLVING CHEROKEE NATION BUSINESSES, L.L.C., A CHEROKEE NATION TRIBAL LIMITED LIABILITY COMPANY AND AUTHORIZING A LIMITED WAIVER OF SOVEREIGN IMMUNITY
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WHEREAS, the Cherokee Nation since time immemorial has exercised the sovereign rights of self-government in behalf of the Cherokee people; and
WHEREAS, the Cherokee Nation is a federally recognized Indian Nation with a historic and continual government to government relationship with the United States of America; and
WHEREAS, Cherokee Nation Businesses, L.L.C. (“CNB”) is a for-profit limited liability company organized under the laws of the Cherokee Nation, is wholly owned by the Cherokee Nation and enjoys sovereign immunity from suit under federal law; and
WHEREAS, Cherokee Nation Entertainment, L.L.C. (“CNE”) is a for-profit limited liability company organized under the laws of the Cherokee Nation, is wholly owned by CNB and enjoys sovereign immunity from suit under federal law; and
WHEREAS, the Cherokee Nation has determined it is both appropriate and necessary that CNB, CNE, and CNE’s subsidiaries be authorized and permitted to (i) enter into, borrow under and perform under a proposed loan or financing transaction with BOKF, NA dba Bank of Oklahoma (“BOK”), and certain other lenders, participants or indemnified parties (BOK and such other lenders, participants and indemnified parties being hereinafter collectively referred to as the “Lenders”) in the syndication or transaction, consisting of a senior secured credit facility in the aggregate principal amount of up to $100,000,000, as such credit facility may from time to time be negotiated, supplemented, modified, amended, restated or extended (the “Senior Credit Facilities”), on the general terms and conditions set forth in the Summary of Terms and Conditions dated March 22, 2013, attached to this Resolution (the “Term Sheet”), and (ii) pledge certain of their respective assets as contemplat...
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