--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 
 

 
FIFTH AMENDMENT TO
AMENDED AND RESTATED CREDIT AGREEMENT

THIS FIFTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT ("Fifth
Amendment") is made and entered into as of the 6th day of December, 2005, by and
among WMCK VENTURE CORP., a Delaware corporation, CENTURY CASINOS CRIPPLE CREEK,
INC., a Colorado corporation and WMCK ACQUISITION CORP., a Delaware corporation
(collectively the "Borrowers"), CENTURY CASINOS, INC., a Delaware corporation
(the "Guarantor") and WELLS FARGO BANK, National Association, as Lender and L/C
Issuer and as the administrative and collateral agent for the Lenders and L/C
Issuer (herein in such capacity called the "Agent Bank" and, together with the
Lenders and L/C Issuer, collectively referred to as the "Banks").

R_E_C_I_T_A_L_S:

WHEREAS:
 
A.  Borrowers, Guarantor and Banks entered into an Amended and Restated Credit
Agreement dated as of April 21, 2000, as amended by First Amendment to Amended
and Restated Credit Agreement dated as of August 22, 2001, by Second Amendment
to Amended and Restated Credit Agreement dated as of August 28, 2002, by Third
Amendment to Amended and Restated Credit Agreement dated as of October 27, 2004
and by Fourth Amendment to Amended and Restated Credit Agreement dated as of
September 23, 2005 (collectively, the "Existing Credit Agreement").
 
 
B.  For the purpose of this Fifth Amendment, all capitalized words and terms not
otherwise defined herein shall have the respective meanings and be construed
herein as provided in Section 1.01 of the Existing Credit Agreement and any
reference to a provision of the Existing Credit Agreement shall be deemed to
incorporate that provision as a part hereof, in the same manner and with the
same effect as if the same were fully set forth herein.
 
 
C.  Guarantor desires to make an additional capital contribution to the Borrower
Consolidation to enable the Borrower Consolidation to reduce the Funded
Outstanding under the Credit Facility. Borrowers and Guarantor have requested
that in the event such additional capital contribution is made, that the
Borrower Consolidation be permitted to make a Distribution or Distributions up
to the aggregate amount of such capital contribution without the requirement of
deducting such Distributions from EBITDA in the numerator of each of the
Interest Coverage Ratio and TFCC Ratio.
 
-1-

--------------------------------------------------------------------------------

D. Lender is willing to amend the Existing Credit Agreement for the purposes
described hereinabove, subject to the terms and conditions which are hereinafter
set forth.

NOW, THEREFORE, in consideration of the foregoing and other good and valuable
considerations, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto do agree to the amendments and modifications to the Existing
Credit Agreement in each instance effective as of the Fifth Amendment Effective
Date, as specifically hereinafter provided as follows:
 
1.  Definitions. Section 1.01 of the Existing Credit Agreement entitled
"Definitions" shall be and is hereby amended to include the following
definitions. Those terms which are currently defined by Section 1.01 of the
Existing Credit Agreement and which are also defined below shall be superseded
and restated by the applicable definition set forth below:
 
"Compliance Certificate" shall mean a compliance certificate as described in
Section 5.08, the form of which is more particularly described on "Exhibit F",
affixed to the Fifth Amendment and by this reference incorporated herein and
made a part hereof, which revised Exhibit F shall fully supersede and restate
Exhibit F attached to the Existing Credit Agreement.

"Credit Agreement" shall mean the Existing Credit Agreement as amended by the
Fifth Amendment, together with all Schedules, Exhibits and other attachments
thereto, as it may be further amended, modified, extended, renewed or restated
from time to time.

"Designated CCI Capital Contribution" shall mean reference to the capital
contribution actually made by CCI to the Borrower Consolidation in cash within
thirty (30) days of the Fifth Amendment Effective Date, up to the amount of the
Funded Outstandings under the Credit Facility as of the date of such capital
contribution.

"Designated CCI Distribution Carve-Outs" shall mean reference to Distributions
made by the Borrower Consolidation to CCI which have been specifically
identified by written notice from Borrowers to Lender as "Designated CCI
Distribution Carve-Outs", which may be made and designated by Borrowers from
time to time so long as:

a. the cumulative aggregate amount of all Designated CCI Distribution Carve-Outs
does not exceed the amount of the Designated CCI Capital Contribution; and

-2-

--------------------------------------------------------------------------------

b. each written notice identifying a Designated CCI Distribution Carve-Out shall
set forth (i) the amount of such Distribution and (ii) the date upon which such
Distribution is to be distributed or otherwise disbursed to CCI.

"Existing Credit Agreement" shall have the meaning set forth in Recital
Paragraph A of the Fifth Amendment.

"Fifth Amendment" shall mean the Fifth Amendment to Amended and Restated Credit
Agreement.

"Fifth Amendment Effective Date" shall mean December 8, 2005, subject to the
occurrence of each of the conditions precedent set forth in Paragraph 3 of the
Fifth Amendment.

"Interest Expense Coverage Ratio" shall be defined as follows:

EBITDA, minus Distributions (exclusive of the Designated Distribution Carve-Outs
and the Designated CCI Distribution Carve-Outs), minus Non-Financed Capital
Expenditures incurred during the period under review

Divided by (¸)

 
Interest Expense paid with respect to the Fiscal Quarter under review and the
most recently ended three immediately preceding Fiscal Quarters on a four fiscal
quarter basis on all Indebtedness (accrued and capitalized).

"TFCC Ratio" shall be defined as follows:

 
EBITDA, minus Distributions (exclusive of Designated Distribution Carve-Outs and
the Designated CCI Distribution Carve-Outs), minus Non-Financed Capital
Expenditures incurred during the period under review

Divided by (¸)
 
Interest Expense actually paid (excluding Subordinated Debt), plus current
portion of Scheduled Reductions actually paid where required during the
preceding four quarters to bring the Aggregate Outstandings down to the required
Maximum Scheduled Balance and Capitalized Lease Liabilities required during the
preceding four quarters, plus actual Interest Expense and principal paid
(without duplication) on Subordinated Debt.
 
-3-

--------------------------------------------------------------------------------

2.  Restatement of Covenant Restricting Distributions. As of the Fifth Amendment
Effective Date, Section 6.10 of the Existing Credit Agreement entitled
"Restriction on Distributions" shall be restated in its entirety as follows:
 
"Section 6.10. Restriction on Distributions.
 
a. The Borrower Consolidation shall not make any Distributions during any period
in which a Default or Event of Default has occurred and remains continuing; and

b. In no event shall the aggregate amount of Distributions (exclusive of the
Designated CCI Distribution Carve-Outs) for the Fiscal Quarters ending September
30, 2005; December 31, 2005; March 31, 2006; and June 30, 2006 exceed the
cumulative maximum amount of One Million Nine Hundred Thousand Dollars
($1,900,000.00); and

c. Except as provided in (b) above, in no event shall the aggregate amount of
Distributions (exclusive of the Designated CCI Distribution Carve-Outs) during
any Fiscal Year exceed the cumulative maximum amount of One Million Six Hundred
Thousand Dollars ($1,600,000.00).
 
3.  Conditions Precedent to Fifth Amendment Effective Date. The occurrence of
the Fifth Amendment Effective Date is subject to Agent Bank having received the
following documents and payments, in each case in a form and substance
reasonably satisfactory to Agent Bank, and the occurrence of each other
condition precedent set forth below on or before December 8, 2005:
 
a.  Due execution by Borrowers, Guarantor and Banks of four (4) duplicate
originals of this Fifth Amendment;
 
b.  Corporate resolutions or other evidence of requisite authority of Borrowers
and Guarantor, as applicable, to execute the Fifth Amendment;
 
c.  Reimbursement to Agent Bank by Borrowers for all reasonable fees and
out-of-pocket expenses incurred by Agent Bank in connection with the Fifth
Amendment, including, but not limited to, reasonable attorneys' fees of
Henderson & Morgan, LLC and all other like expenses remaining unpaid as of the
Fifth Amendment Effective Date; and
d.  Such other documents, instruments or conditions as may be reasonably
required by Lenders.
 
 
-4-

--------------------------------------------------------------------------------

 
 
4.  Representations of Borrowers. Borrowers hereby represent to the Banks that:
 
a.  The representations and warranties contained in Article IV of the Existing
Credit Agreement and contained in each of the other Loan Documents (other than
representations and warranties which expressly speak only as of a different
date, which shall be true and correct in all material respects as of such date)
are true and correct on and as of the Fifth Amendment Effective Date in all
material respects as though such representations and warranties had been made on
and as of the Fifth Amendment Effective Date, except to the extent that such
representations and warranties are not true and correct as a result of a change
which is permitted by the Credit Agreement or by any other Loan Document or
which has been otherwise consented to by Agent Bank;
 
b.  Since the date of the most recent financial statements referred to in
Section 5.08 of the Existing Credit Agreement, no Material Adverse Change has
occurred and no event or circumstance which could reasonably be expected to
result in a Material Adverse Change or Material Adverse Effect has occurred;
 
c.  No event has occurred and is continuing which constitutes a Default or Event
of Default under the terms of the Credit Agreement; and
 
d.  The execution, delivery and performance of this Fifth Amendment has been
duly authorized by all necessary action of Borrowers and Guarantor and this
Fifth Amendment constitutes a valid, binding and enforceable obligation of
Borrowers and Guarantor.
 
5.  Consent to Fifth Amendment and Affirmation and Ratification of Guaranty.
Guarantor joins in the execution of this Fifth Amendment for the purpose of
evidencing its consent to the terms, covenants, provisions and conditions herein
contained and contained in the Existing Credit Agreement. Guarantor further
joins in the execution of this Fifth Amendment for the purpose of ratifying and
affirming its obligations under the Continuing Guaranty for the guaranty of the
full and prompt payment and performance of all Indebtedness and Obligations
under the Credit Facility, as modified and amended under this Fifth Amendment.
 
6.  Incorporation by Reference. This Fifth Amendment shall be and is hereby
incorporated in and forms a part of the Existing Credit Agreement.
 
7.  Governing Law. This Fifth Amendment to Credit Agreement shall be governed by
the internal laws of the State of Nevada without reference to conflicts of laws
principles.
 
 
-5-

--------------------------------------------------------------------------------

8.  Counterparts. This Fifth Amendment may be executed in any number of separate
counterparts with the same effect as if the signatures hereto and hereby were
upon the same instrument. All such counterparts shall together constitute one
and the same document.
 
9.  Continuance of Terms and Provisions. All of the terms and provisions of the
Existing Credit Agreement shall remain unchanged except as specifically modified
herein.
 
10.  Replacement/Additional Exhibits Attached. The following replacement Exhibit
is attached hereto and incorporated herein and made a part of the Credit
Agreement as follows:
 
Exhibit F - Compliance Certificate

IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amendment as of
the day and year first above written.

 
BORROWERS:
 
WMCK VENTURE CORP.,
a Delaware corporation
 
 
By /s/ Larry Hannappel     
Larry Hannappel,
President
 
CENTURY CASINOS CRIPPLE
CREEK, INC.,
a Colorado corporation
 
 
By /s/ Larry Hannappel     
Larry Hannappel,
President

 
-6-

--------------------------------------------------------------------------------

 
WMCK ACQUISITION
CORP., a Delaware
corporation
 
 
By /s/ Larry Hannappel     
Larry Hannappel,
President
 
 
GUARANTOR:
 
CENTURY CASINOS, INC.,
a Delaware corporation
 
 
By /s/ Larry Hannappel     
Larry Hannappel,
Senior Vice President
 
 
BANKS:
 
WELLS FARGO BANK,
National Association,
Agent Bank, Lender and
L/C Issuer
 
 
By /s/ Ryan Edde     
Ryan Edde,
Vice President

-7-

--------------------------------------------------------------------------------

COMPLIANCE CERTIFICATE
(Revised -Fifth Amendment - Form)

TO:  WELLS FARGO BANK, National Association,
as Agent Bank

Reference is made to that certain Amended and Restated Credit Agreement, dated
as of April 21, 2000, as amended by First Amendment to Amended and Restated
Credit Agreement dated as of August 22, 2001, by Second Amendment to Amended and
Restated Credit Agreement dated as of August 28, 2002, by Third Amendment to
Amended and Restated Credit Agreement dated as of October 27, 2004, by Fourth
Amendment to Amended and Restated Credit Agreement dated as of September 23,
2005 and by Fifth Amendment to Amended and Restated Credit Agreement dated as of
December 6, 2005 (as may be further amended, supplemented or otherwise modified
from time to time, collectively the "Credit Agreement"), by and among WMCK
VENTURE CORP., a Delaware corporation, CENTURY CASINOS CRIPPLE CREEK, INC., a
Colorado corporation and WMCK ACQUISITION CORP., a Delaware corporation
(collectively the "Borrowers"), CENTURY CASINOS, INC., a Delaware corporation
(the "Guarantor"), the Lenders therein named (each, together with their
respective successors and assigns, individually being referred to as a "Lender"
and collectively as the "Lenders"), the L/C Issuer therein named and WELLS FARGO
BANK, National Association, as administrative and collateral agent for the
Lenders and L/C Issuer (herein, in such capacity, called the "Agent Bank" and,
together with the Lenders, collectively referred to as the "Banks"). Terms
defined in the Credit Agreement and not otherwise defined in this Compliance
Certificate ("Certificate") shall have the meanings defined and described in the
Credit Agreement. This Certificate is delivered in accordance with
Section 5.08(f) of the Credit Agreement.

The period under review is the Fiscal Quarter ended [Insert Date] together with,
unless otherwise indicated, the three (3) immediately preceding Fiscal Quarters
on a rolling four (4) Fiscal Quarter basis.
 
 
 
 
 
EXHIBIT F
TO
FIFTH AMENDMENT
 
 
-1-

--------------------------------------------------------------------------------

I.

COMPLIANCE WITH AFFIRMATIVE COVENANTS
 
A. FF&E (Section 5.01): Amount of Capital Proceeds from FF&E sold or disposed
which exceeds One Hundred Fifty Thousand Dollars ($150,000.00) in the aggregate
during the term of the Credit Facility, in each instance which are not replaced
by FF&E of equivalent value and utility.
 
 
 
 
 
 
$______________
 
 
B. Compliance with Payment Subordination Agreement (Section 5.03): Report the
amount of any payments made on the Subordinated Debt:
 
 
 
Interest
 
 
$______________
 
 
Principal
 
 
$______________
 
 
C. Liens Filed (Section 5.04): Report any liens filed against the Real Property
and the amount claimed in such liens. Describe actions being taken with respect
thereto.
 
 
 
_______________
 
 
D. Acquisition of Additional Property
(Section 5.06(b)):
 
 
 
a. Other than the Real Property presently encumbered by the Security
Documentation, attach a legal description and describe the use of any other real
property or rights to the use of real property which is used in any material
manner in connection with the Casino Facilities. Attach evidence that such real
property or rights to the use of such real property has been added as Collateral
under the Security Documentation.
 
 
 
 
______________
 
b. Has the T-Shirt Shop been acquired by any Borrower or the Guarantor?
 
 
 
 
(yes/no)         

 
-2-

--------------------------------------------------------------------------------

E. Permitted Encumbrances (Section 5.11): Describe any mortgage, deed of trust,
pledge, lien, security interest, encumbrance, attachment, levy, distraint or
other judicial process or burden affecting the Collateral other than the
Permitted Encumbrances. Describe any matters being contested in the manner
described in Sections 5.04 and 5.10 of the Credit Agreement.
 
 
______________
 
 
F. Suits or Actions (Section 5.16): Describe on a separate sheet any matters
requiring advice to Agent Bank under Section 5.16.
 
 
 
______________
 
 
G. Tradenames, Trademarks and Servicemarks (Section 5.19): Describe on a
separate sheet any matters requiring advice to Agent Bank under Section 5.19.
 
 
 
______________
 
H. Notice of Hazardous Materials (Section 5.20): State whether or not to your
knowledge there are any matters of which Banks should be advised under
Section 5.20. If so, attach a detailed summary of such matter(s).
 
 
 
______________
 
 
I. Golden Horseshoe Lease (Section 5.23):
 
 
 
a. Describe all defaults, if any, which occurred during the period under review
under the Golden Horseshoe Lease. Describe any modifications or amendments to
the Golden Horseshoe Lease. State whether or not such modifications or
amendments have been consented to by Agent Bank as required under Section 5.23
of the Credit Agreement.
 
 
 
 
_____________
 
 
b. Have the Borrowers given Teller Realty Inc. written notice of intent to
exercise the purchase option?
 
 
  yes/no        
 

 
-3-

--------------------------------------------------------------------------------

 
If so, attach a copy of such written notice.
 
 
 
Required: On or before June 30, 2003.
 
 
c. Have Borrowers purchased the Golden Horseshoe Property?
 
 
  yes/no        
 
 
d. Have Borrowers extended the term of the Golden Horseshoe Lease to at least
June 30, 2010?
 
 
 yes/no        
 
Requirement: b, c or d must occur on or before June 30, 2003.
 
 
J. Compliance with Management Agreement
(Section 5.27):
 
a. Has a Management Agreement been executed in compliance with the requirements
of Section 5.27?
  yes/no        
If so:
 
b. Describe all defaults, if any, which occurred during the period under review
under the Management Agreement.
 
 
   
c. Describe any modifications or amendments to the Management Agreement.
 
 
   
d. State whether or not such modifications or amendments have been consented to
by Agent Bank as required under Section 5.27 of the Credit Agreement.
 
 
 
   
e. Have any Management Fees been paid?
 
            yes/no 
f. Has the Borrower Consolidation realized a Leverage Ratio less than 2.00 to
1.00 as of the end of a Fiscal Quarter occurring prior to such payment?
          yes/no 

-4-

--------------------------------------------------------------------------------

II.

FINANCIAL COVENANTS

 
A. Leverage Ratio (Section 6.01):
 
 
Funded Debt. To be calculated with reference to the Borrower Consolidation as of
the last day of the Fiscal Quarter set forth above:
 
a. Daily average of the Aggregate Funded Outstanding on the Credit Facility
during the last month of the Fiscal Quarter under review
 
$_____________
 
 
b. Plus the daily average during the last month of the Fiscal Quarter under
review, of both the long-term and the current portions (without duplication) of
all other interest bearing Indebtedness
 
 
 
+ $_____________
 
 
c. Plus the daily average during the last month of the Fiscal Quarter under
review, of both the long-term and current portion (without duplication) of all
Capitalized Lease Liabilities
 
 
 
+ $_____________
 
d. Plus the amount of all other Contingent Liabilities as of the last day of
such period
 
+ $_____________
 
e. Less the amount of all Subordinated Debt as of the last day of such period to
the extent included in (b) above
 
- $_____________
 
 
f. TOTAL FUNDED DEBT
(a + b + c + d + e)
 
 
$_____________
 
 
Divided (¸) by:
 
¸
 

 
-5-

--------------------------------------------------------------------------------

EBITDA 
 
 
To be calculated with reference to the Borrower Consolidation on a cumulative
basis with respect to the Fiscal Quarter under review and the most recently
ended three (3) immediately preceding Fiscal Quarters on a four (4) Fiscal
Quarter basis
 
 
 
g. Net income
 
 
$_____________
 
 
h. Plus Interest Expense (expensed and capitalized) to the extent deducted in
the determination of Net Income
 
 
 
+ $_____________
 
 
i. Plus the aggregate amount of Federal and state taxes on or measured by income
(whether or not payable during the period under review) to the extent deducted
in the determination of Net Income
 
 
 
+ $_____________
 

 
 
j. Plus depreciation, amortization and all other non-cash expenses to the extent
deducted in the determination of Net Income
 
 
 
+ $_____________
 
 
k. Less all cash and non-cash income (including, but not limited to, interest
income), transfers, loans and advances from CCI or any of its Subsidiaries that
are not members of the Borrower Consolidation to the extent included in the
determination of Net Income.
 
 
- $_____________
 
l. Less all other non-cash income from any source not specified in (k) above to
the extent included in the determination of Net Income.
 
 
 
 
- $____________ 

 
-6-

--------------------------------------------------------------------------------

 
m. TOTAL EBITDA
(g + h + i + j - k - l)
 
 
$_____________
 
 
Leverage Ratio (f ¸ m)
 
 
  :1             
 
 
Maximum Permitted Leverage Ratio:
 
 
 
 
Fiscal Quarter End
Maximum Permitted Leverage Ratio
 
As of the Fiscal Quarter ending September 30, 2005
3.00 to 1.00
 
 
As of the Fiscal Quarters ending December 31, 2005 and March 31, 2006
2.75 to 1.00
 
 
As of the Fiscal Quarters ending June 30, 2006 and September 30, 2006
2.50 to 1.00
 
 
As of the Fiscal Quarters ending December 31, 2006 and March 31, 2007
2.25 to 1.00
 
 
As of the Fiscal Quarter ending June 30, 2007 and as of each Fiscal Quarter end
thereafter occurring until Credit Facility Termination
2.00 to 1.00
 
 
B. Interest Expense Coverage Ratio (Section 6.02): The following line items and
Interest Expense Coverage Ratio to be calculated with respect to the Borrower
Consolidation with respect to the Fiscal Quarter under review and the most
recently ended three (3) preceding Fiscal Quarters on a four (4) Fiscal Quarter
basis unless otherwise noted:
 
 

 
-7-

--------------------------------------------------------------------------------

 
ADJUSTED EBITDA
 
 
 
a. EBITDA (enter IIA (m) above)
 
 
$_____________
 
 
    b. Less the aggregate amount of Distributions (exclusive of the Designated
Distribution Carve-Outs made and funded prior to April 1, 2005, and the
Designated CCI Distribution Carve-Outs, in each case which occurred during the
four Fiscal Quarter period under review)
 
 
 
 
- $_____________
 
 
c. Less the aggregate amount of Non- Financed Capital Expenditures
 
 
- $_____________
 
 
d. Adjusted EBITDA
(a - b - c)
 
 
$_____________
 
 
Divided by ¸
 
 
 
e. Interest Expense paid on all  Indebtedness (accrued and capitalized)
 
 
$_____________
 
 
INTEREST EXPENSE COVERAGE RATIO
(d ¸ e)
 
 
         
:1
 
Minimum required no less than 2.00 to 1.00
 
 
 
    C. TFCC Ratio (Section 6.03): To be calculated with respect to the Borrower
Consolidation on a cumulative basis with respect to each Fiscal Quarter and the
most recently ended three (3) preceding Fiscal Quarters on a rolling four (4)
Fiscal Quarter basis, unless otherwise noted:
 
 
 
ADJUSTED EBITDA
 
 
 
a. EBITDA (enter IIA (m) above) 
 
 
$____________
 

 
-8-

--------------------------------------------------------------------------------

 
b. Less the aggregate amount of Distributions (exclusive of the Designated
Distribution Carve-Outs made and funded prior to April 1, 2005 and the
Designated CCI Distribution Carve-Outs, in each case which occurred during the
four Fiscal Quarter period under review)
 
 
 
- $____________
 
 
c. Less the aggregate amount of Non- Financed Capital Expenditures
 
 
- $____________
 
 
d. Adjusted EBITDA
(a - b - c)
 
 
$____________
 
 
Divided by ¸
 
 
¸
 
 
e. Interest Expense actually paid (excluding Subordinated Debt)
 
 
$____________
 
 
f. Plus current portion of Scheduled Reductions actually paid where required
during the period under review to bring the Aggregate Outstandings down to the
required Maximum Scheduled Balance
 
 
 
+ $____________
 
 
g. Plus Capitalized Lease Liabilities required to be paid during the period
under review
 
 
 
+ $____________
 
h. Plus actual Interest Expense and principal paid (without duplication) on
Subordinated Debt
 
 
 
+ $____________
 
i. TOTAL DENOMINATOR
(e + f + g + h + i)
 
 
$____________
 
 
TFCC Ratio (d ¸ i)
 
 
  :1              
Minimum TFCC Ratio shall be no less than
1.10 to 1.00

 
-9-

--------------------------------------------------------------------------------

 
Set forth aggregate amount of Financed Capital Expenditures made during the four
(4) Fiscal Quarter period under review
 
 
$____________
 
 
D. No Transfer of Ownership (Section 6.04): On a separate sheet describe in
detail any transfers or hypothecations of Guarantor ownership interest in WMCKVC
or WMCKVC ownership interests in CCCC or WMCKAC not permitted under Section 6.04
 
 
 
____________
 
 
E. Total Indebtedness (Section 6.05) With respect to the Borrower Consolidation:
 
 
 
a. Set forth the aggregate amount of outstanding Secured Interest Rate Hedges
 
 
$_____________
 
 
Maximum Permitted
 
 
$18,000,000.00
 
 
b. Set forth the aggregate amount of secured purchase money Indebtedness and
Capital Lease Liabilities
 
 
$_____________
 
 
Maximum Permitted
 
 
$ 250,000.00
 
 
c. Set forth aggregate amount of Indebtedness to Guarantor or any Subsidiary or
Affiliate of Guarantor which is not a
member of the Borrower Consolidation
 
 
 
$_____________
 
 
Maximum Permitted
 
 
$ 500,000.00
 
 
d. Set forth the cumulative aggregate of all Subordinated Debt
 
 
$_____________
 
 
Did Agent Bank give prior written consent to the incurrence of all Subordinated
Debt set forth above
 
 
  yes/no           
 

 
-10-

--------------------------------------------------------------------------------

 
Does the interest rate accrued under the terms of any Subordinated Debt exceed
six percent (6%) per annum?
 
 
  yes/no           
 
F. Capital Expenditures (Section 6.06): Set forth for the Fiscal Year period in
which the Fiscal Quarter under review occurs, the cumulative aggregate amount of
Capital Expenditures made to the Casino Facilities as of the end of the Fiscal
Quarter under review, as follows:
 
 
 
a. Aggregate amount of Non-Financed Capital Expenditures
 
 
$_____________
 
b. Aggregate amount of Financed Capital Expenditures
 
 
$_____________
c. Total Capital Expenditures (a + b)
$_____________
 
Minimum Total Capital Expenditures Required: $250,000.00
 
 
 
Maximum Non-Financed Capital Expenditures Permitted: $500,000.00
 
 
 
G. Other Liens (Section 6.07): On a separate sheet describe in detail any and
all liens, encumbrances and/or negative pledges not permitted under Section 6.07
 
 
 
______________
 
 
H. No Merger (Section 6.08): On a separate sheet describe any and all mergers,
consolidations and/or asset sales not permitted under Section 6.08
 
 
 
______________
 
 
I. Restriction on Investments (Section 6.09): Describe any Investments made
which are not permitted under Section 6.09
 
 
______________
 
 
J. Restrictions on Distributions (Section 6.10):
 
 

 
-11-

--------------------------------------------------------------------------------

 
a. Set forth the amount and date of receipt of the Designated CCI Capital
Contribution.
 
 
$_____________   
 
b. Set forth the amount(s) of and describe on a separate sheet, all
Distributions (other than the Designated CCI Distribution Carve-Outs) made
during the fiscal period under review.
 
 
$_____________   
 
c. Set forth the dates paid and amount of each Designated CCI Distribution
Carve-Out made through the end of the Fiscal Quarter under review.
 
 
 
$______________   
 
Requirements:
 
 
 
(i) for the four consecutive Fiscal Quarter period ending June 30, 2006,
aggregate Distributions (other than the Designated CCI Distribution Carve-Out)
may not exceed $1,900,000.00.
 
 
 
(ii) except as provided in (i) above, may not exceed $1,600,000.00 in the
aggregate during any Fiscal Year (other than the Designated CCI Distribution
Carve-Out).
 
 
 
(iii) the aggregate of the Designated CCI Distribution Carve-Outs may not exceed
the Designated CCI Capital Contribution.
 
 
 
K. Contingent Liabilities (Section 6.11): Describe any Contingent Liabilities
incurred by Borrowers which are not permitted by Section 6.11
 
 
 
_____________
 
L. ERISA (Section 6.12): Describe on a separate sheet any matters requiring
advice to Banks under Section 6.12.
 
 
_____________
 

 
-12-

--------------------------------------------------------------------------------

 
M. Margin Regulations (Section 6.13): Set forth the amount(s) of and describe on
a separate sheet of paper any proceeds of a Borrowing used by any Borrower to
purchase or carry any Margin Stock or to extend credit to others for the purpose
of purchasing or carrying any Margin Stock.
 
 
 
$_____________
 
 
N. No Subsidiaries (Section 6.14): On a separate sheet, describe any
Subsidiaries created by any Borrower subsequent to the Closing Date. State
whether or not the creation of such Subsidiaries has been consented to by the
Agent Bank as required under Section 6.14 of the Credit Agreement.
 
 
 
  yes/no         
 
 
O. Transactions with Affiliates (Section 6.15): Describe on a separate sheet any
matters requiring advice to Banks under Section 6.15.
 
 
 
_____________
 

 
 
III.

NONUSAGE FEE CALCULATION

 
(Section 2.09b): to be calculated with respect to each Fiscal Quarter under
review following the first annual anniversary of the Closing Date:
 
 
 
a. As of the end of such Fiscal Quarter, the daily average during such Fiscal
Quarter of the Maximum Permitted Balance (without regard to any Availability
Limit)
 
 
 
$_____________
 
 
b. Less daily average during such Fiscal Quarter of the Funded Outstandings
 
 
- $____________
 
 
c. Amount of Nonusage
(a minus b)
 
 
$_____________
 
 
d. Nonusage Percentage based on Leverage Ratio
 
See Table Two in definition of Applicable Margin.
 
 
_____________
 

 
-13-

--------------------------------------------------------------------------------

 
e. Gross Nonusage Fee
(c times d)
 
 
$_____________
 
 
f. Number of days in Fiscal Quarter under review
 
 
_____________
 
 
g. Nonusage Fee for Fiscal Quarter under review
(e ¸ 360 x f)
 
 
$_____________
 

IV.

AVAILABILITY LIMIT

Availability Limit: For the Fiscal Quarter under review, set forth:
 
a. EBITDA (enter IIA(m) above)
  $ ____________
b. Multiplied by the Maximum Permitted Leverage Ratio as of such Fiscal Quarter
end
 
x   ____________
Total
$   ____________
c. Less Total Funded Debt (exclusive of the Aggregate Outstandings) See: A(f)
less A(a).
- $ ____________ 
d. Availability Limit
  $ ____________ 

V.

PERFORMANCE OF OBLIGATIONS

A review of the activities of the Borrower Consolidation and Guarantor during
the fiscal period covered by the attached financial statements has been made
under my supervision with a view to determining whether during such fiscal
period the Borrower Consolidation and Guarantor performed and observed all of
their obligations under the Loan Documents. The undersigned is not aware of any
facts or circumstances which would make any of the calculations set forth above
or attached hereto materially incorrect. On the basis of the foregoing, the
undersigned certifies that the calculations made and the information contained
 
-14-

--------------------------------------------------------------------------------

herein are derived from the books and records of the Borrower Consolidation and
the Guarantor and that each and every matter contained herein correctly reflects
those books and records. Except as described in an attached document or in an
earlier Certificate, to the best of my knowledge, as of the date of this
Certificate there is no Default or Event of Default has occurred or remains
continuing.

VI.

NO MATERIAL ADVERSE CHANGE

To the best of my knowledge, except as described in an attached document or in
an earlier Certificate, no Material Adverse Change has occurred since the date
of the most recent Certificate delivered to the Banks.

-15-

--------------------------------------------------------------------------------

DATED this ____ day of _____________, 200___.

 
BORROWERS:
 
WMCK VENTURE CORP., a Delaware corporation, CENTURY CASINOS CRIPPLE
CREEK, INC., a Colorado corporation and WMCK ACQUISITION CORP., a
Delaware corporation
 
 
By________________________
 
Title: Authorized Officer
 
Print
Name______________________
 
GUARANTOR:
 
CENTURY CASINOS, INC.,
a Delaware corporation
 
 
By_________________________
 
Name______________________
 
Title________________________

 
 
-16-

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------