Exhibit 10.1

EXECUTION VERSION

SIXTH SUPPLEMENTAL AGREEMENT

DATED __15 April__ 2019

BETWEEN

MGM CHINA HOLDINGS LIMITED

MGM GRAND PARADISE, S.A.

MGM GRAND PARADISE (HK) LIMITED

SUPEREMPREGO LIMITADA

MGM - SECURITY SERVICES, LTD.

AND

BANK OF AMERICA, N.A.

as Facility Agent

relating to a credit agreement originally dated 27 July 2010, as first amended
and restated by a supplemental agreement dated 22 October 2012, such amendments
being effective as of 29 October 2012, as further amended and restated by a
second supplemental agreement dated 9 June 2015, such amendments being effective
as of 12 June 2015 and as further amended by a third supplemental agreement
dated 2 February 2016, such amendments being effective as of 2 February 2016 as
further amended by a fourth supplemental agreement dated 15 February 2017 (such
amendments being effective as of 15 February 2017) and as further amended and
restated by a fifth supplemental agreement dated 15 June 2018 (such amendments
being effective as of 22 June 2018)

 

ALLEN & OVERY

Allen & Overy LLP

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CONTENTS

 

 

 

 

 

 

 

Clause

 

Page

 

 

 

 

 

1.

 

Interpretation

 

2

2.

 

Amendments

 

3

3.

 

Conditions Precedent

 

3

4.

 

Representations

 

3

5.

 

Guarantee and Security

 

3

6.

 

Indemnity

 

4

7.

 

Miscellaneous

 

4

8.

 

Governing Law

 

4

 

 

 

 

 

 

 

 

Schedule

 

 

 

 

 

 

 

1.

 

Amendments to the Fifth Amended and Restated Credit Agreement

 

5

 

 

 

 

 

 

 

 

 

 

Signatories

 

6

 

 

 

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THIS AGREEMENT is dated ____15 April ____ 2019 and made

BETWEEN:

(1)

MGM CHINA HOLDINGS LIMITED (the Company);

(2)

MGM GRAND PARADISE, S.A. (MGMGP);

(3)

MGM GRAND PARADISE (HK) LIMITED, SUPEREMPREGO LIMITADA and MGM - SECURITY
SERVICES, LTD. as original guarantors (the Original Guarantors); and

(4)

BANK OF AMERICA, N.A. as facility agent for and on behalf of the other Finance
Parties under and as defined in the Fifth Amended and Restated Credit Agreement
defined below (in this capacity, the Facility Agent).

BACKGROUND

(A)

MGMGP, MGM Grand Paradise (HK) Limited and Superemprego Limitada entered into a
HK$7,410,000,000 credit agreement dated 27 July 2010 (the Existing Credit
Agreement).

(B)

On 2 June 2011 the Company acceded to the Existing Credit Agreement as an
Additional Guarantor.

(C)

On 22 October 2012 MGMGP, the Company and the Facility Agent, amongst others,
entered into a supplemental agreement (the First Supplemental Agreement) which
amended and restated the Existing Credit Agreement (as amended by the First
Supplemental Agreement, such amendments being effective as of 29 October 2012,
the First Amended and Restated Credit Agreement).  

(D)

On 6 February 2015, MGM Security Services, Ltd. acceded to the First Amended and
Restated Credit Agreement as an Additional Guarantor.

(E)

On 9 June 2015, MGMGP, the Company and the Facility Agent, amongst others,
entered into a second supplemental agreement (the Second Supplemental Agreement)
which amended and restated the First Amended and Restated Credit Agreement (as
amended by the Second Supplemental Agreement, such amendments being effective as
of 12 June 2015, the Second Amended and Restated Credit Agreement).  

(F)

On 2 February 2016, MGMGP, the Company and the Facility Agent, amongst others,
entered into a third supplemental agreement (the Third Supplemental Agreement)
which amended the Second Amended and Restated Credit Agreement (as amended by
the Third Supplemental Agreement, such amendments being effective as of 2
February 2016, the Third Amended Credit Agreement).  

(G)

On 15 February 2017, MGMGP, the Company and the Facility Agent, amongst others,
entered into a fourth supplemental agreement (the Fourth Supplemental Agreement)
which amended the Third Amended Credit Agreement (as amended by the Fourth
Supplemental Agreement (such amendments being effective as of 15 February 2017),
the Fourth Amended Credit Agreement).

 

 

 

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(H)

On 15 June 2018, MGMGP, the Company and the Facility Agent, amongst others,
entered into a fifth supplemental agreement (the Fifth Supplemental Agreement)
which amended and restated the Fourth Amended Credit Agreement (as amended and
restated by the Fifth Supplemental Agreement (such amendments being effective as
of 22 June 2018), the Fifth Amended and Restated Credit Agreement).

(I)

The Facility Agent sent an email on 21 March 2019 to the Lenders, asking the
Lenders to respond to the Company’s and MGMGP’s request letter dated 21 March
2019 (the Amendment Request Letter) that the Lenders consent to certain
amendments to the Fifth Amended and Restated Credit Agreement described therein.

(J)

The Parties agree that on the Sixth Effective Date (as defined below) the Fifth
Amended and Restated Credit Agreement will be amended on the terms, and subject
to the conditions, of this Agreement.

(K)

Pursuant to clause 26.1 (Procedure) of  the Fifth Amended and Restated Credit
Agreement, the Majority Lenders (as defined in the Fifth Amended and Restated
Credit Agreement) have consented to the amendments to the Fifth Amended and
Restated Credit Agreement contemplated by this Agreement.  Accordingly, the
Facility Agent is authorised to execute this Agreement on behalf of the Finance
Parties.

IT IS AGREED as follows:

1.

INTERPRETATION

1.1

Definitions

(a)

In this Agreement:

Amended Credit Agreement means the Fifth Amended and Restated Credit Agreement
as amended by this Agreement.

Sixth Effective Date means the date upon which the Facility Agent issues the
Sixth Effective Date Notice pursuant to paragraph  (b) of Clause  2
(Amendments).

Sixth Effective Date Notice has the meaning given to that term in paragraph  (b)
of Clause  2 (Amendments).

(b)

Capitalised terms defined in the Fifth Amended and Restated Credit Agreement
have, unless expressly defined in this Agreement, the same meaning in this
Agreement.

1.2

Construction

The provisions of clause 1.2 (Construction), 1.4 (Third Parties) and 36
(Enforcement) of the Fifth Amended and Restated Credit Agreement apply to this
Agreement as though they were set out in full in this Agreement except that
references to the Fifth Amended and Restated Credit Agreement are to be
construed as references to this Agreement.

 

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2.

AMENDMENTS

(a)

Subject to paragraph (b) below, the Fifth Amended and Restated Credit Agreement
will be amended from the Sixth Effective Date in the manner set out in Schedule
1 (Amendments to the Fifth Amended and Restated Credit Agreement).

(b)

The Fifth Amended and Restated Credit Agreement will not be amended by this
Agreement unless the Facility Agent notifies the Company and each Lender that it
has received all of the documents and evidence set out in Clause  3 (Conditions
Precedent) below in form and substance satisfactory to the Facility Agent (the
Sixth Effective Date Notice).  The Facility Agent must issue the Sixth Effective
Date Notice as soon as reasonably practicable.

3.

CONDITIONS PRECEDENT

The conditions precedent to be delivered to the Facility Agent by the Company in
accordance with paragraph (b) of Clause 2 (Amendments) above are:

 

(a)

an executed copy of this Agreement; and

 

(b)

evidence that all fees, costs and expenses then due and payable from the Company
in connection with this Agreement and the amendments contemplated herein have
been paid.

4.

REPRESENTATIONS

Each Obligor makes the representations and warranties set out in clause 16
(Representations and Warranties) of the Fifth Amended and Restated Credit
Agreement on the date of this Agreement and on the Sixth Effective Date, in each
case as if references to the Fifth Amended and Restated Credit Agreement are
references to the Amended Credit Agreement with reference to the facts and
circumstances then existing and in each case as if references to the Fifth
Effective Date are references to the Sixth Effective Date.

5.

GUARANTEE AND SECURITY

Each Obligor, with effect on and from the Sixth Effective Date:

 

(a)

confirms its acceptance of the Amended Credit Agreement;

 

(b)

agrees that it is bound as an Obligor by the terms of the Amended Credit
Agreement;

 

(c)

confirms that any security given by it or created under a Finance Document will:

 

(i)

continue in full force and effect; and

 

(ii)

extend to the liabilities and obligations of the Obligors to the Finance Parties
under the Finance Documents (including the Amended Credit Agreement); and

 

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(d)

(if a Guarantor) confirms that the guarantee given by it or created under a
Finance Document will:

 

(i)

continue in full force and effect; and

 

(ii)

extend to the liabilities and obligations of the Obligors to the Finance Parties
under the Finance Documents (including the Amended Credit Agreement).

6.

INDEMNITY

Without prejudice to any indemnity provided under the Finance Documents, each
Obligor must, jointly and severally and immediately on demand by any Party
(other than an Obligor), indemnify that Party against any cost (including,
without limitation, legal costs), expense, loss or liability which that Party
incurs in connection with, or as a consequence of, entering into this Agreement.

7.

MISCELLANEOUS

(a)

No part of this Agreement is intended to or will create a registrable Security
Interest.

(b)

Each of this Agreement and the Amended Credit Agreement is a Finance Document.

(c)

Subject to the terms of this Agreement, the Fifth Amended and Restated Credit
Agreement will remain in full force and effect and, from the Sixth Effective
Date, the Fifth Amended and Restated Credit Agreement and this Agreement will be
read and construed as one document.

8.

GOVERNING LAW

This Agreement and any non-contractual obligations arising out of or in
connection with it are governed by English law.

THIS AGREEMENT has been entered into on the date stated at the beginning of this
Agreement.

 

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SCHEDULE 1

AMENDMENTS TO THE FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

The definition of Performance Bond Facility in clause 1.1 (Definitions) of the
Fifth Amended and Restated Credit Agreement is deleted and replaced with:

“Performance Bond Facility means:

(a)

the facility made available under the facility agreement dated 15 April 2005
between  MGMGP and Banco Nacional Ultramarino, S.A. identified as "Garantia
Bancária No. 139/2005" (as amended or replaced from time to time), any
replacement of this facility or other similar facility entered into by a member
of the Restricted Group to comply with the requirement under clause 61 of the
SubConcession Contract; or

 

(b)

any facility entered into by a member of the Restricted Group for the purpose of
issuing a Performance Bond, in an amount when aggregated with other facilities
under this paragraph (b), not exceeding US$150,000,000 or its equivalent.”

 

 

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signatories company for and on behalf of mgm china holdings limited by:sixth
supplement agreement

 

 

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mgmgp for and on behalf of mgm grand paradise, s.a. by:sixth supplement
agreement

 

 

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original guarantor for and on behalf of mgm grand paradise (hk) limited by:sixth
supplement agreement

 

 

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original guarantor for and on behalf of superemprego limitada by: sixth
supplement agreement

 

 

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original guarantor for and on behalf of mgm-security services, ltd. by:sixth
supplement agreement

 

 

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Facility agent bank of america, n.a. by:name: wynnie lam title: vice president