Leveraged Recapitalization

Leveraged Recapitalization. A refinancing of the capital structure of the VLT Facility that results in an increase in principal if, and to the extent that, part of the use of proceeds is a payment to the Owner. A refinancing of the capital structure of the VLT Facility in which the proceeds are utilized to expand the VLT Facility shall not be deemed to be a Leveraged Recapitalization.