Revolving Credit Facility Second Amendment Agreement dated June 27, 2007



 Exhibit 10.2 
  

			
	

	  	



 CONFORMED COPY 
 DATED 27 JUNE 2007 
 WYNN RESORTS (MACAU) S.A. 
 as Company 
 SOCIÉTÉ
GÉNÉRALE, HONG KONG BRANCH 
 as Revolving Credit Facility Agent 
 and 
 CERTAIN FINANCIAL INSTITUTIONS 
 as Revolving Credit Facility Lenders 
  

 REVOLVING CREDIT FACILITY AGREEMENT 
 SECOND AMENDMENT AGREEMENT 
  

  







 CONTENTS 
  

							
	 Clause
	  	Page
	1.	  	DEFINITIONS AND INTERPRETATION	  	1
	2.	  	AMENDMENT	  	1
	3.	  	CONTINUITY AND FURTHER ASSURANCE	  	2
	4.	  	MISCELLANEOUS	  	2
	5.	  	GOVERNING LAW	  	2
	SIGNATURES	  	3
	SCHEDULE	  	Amended Revolving Credit Facility Agreement	  	24








 THIS AGREEMENT is dated 27th June 2007 and made between: 
  

	(1)	WYNN RESORTS (MACAU) S.A. (the “Company”); 

  

	(2)	SOCIÉTÉ GÉNÉRALE, HONG KONG BRANCH (the “Revolving Credit Facility Agent”); and 

  

	(3)	THE FINANCIAL INSTITUTIONS named on the signing pages as Revolving Credit Facility Lenders. 

 RECITALS: 
  

	(A)	The Company proposes to further expand the Projects. 

  

	(B)	The Secured Parties have agreed to amend certain Senior Finance Documents and enter into additional Senior Finance Documents and the Lenders have agreed to increase the total size
of the Facilities originally provided thereunder in connection with the Diamond Expansion and for the general corporate purposes of the Group (including investment in Excluded Subsidiaries, Excluded Projects or Resort Management Agreements).


  

	(C)	It has been agreed to amend the Revolving Credit Facility Agreement as set out below. 

 IT IS AGREED as follows: 
  

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	Incorporation of defined terms 

  

	 	(a)	Unless a contrary indication appears, a term defined in or by reference in the Schedule has the same meaning in this Agreement. 

  

	 	(b)	The principles of construction and rules of interpretation set out or referred to in the Schedule shall have effect as if set out in this Agreement. 

  

	1.2	Clauses 

 In this Agreement any reference to a
“Clause” or a “Schedule” is, unless the context otherwise requires, a reference to a Clause or a Schedule to this Agreement. 
  

	2.	AMENDMENT 

 With effect from the Effective Date, the
Revolving Credit Facility Agreement shall be amended so that it shall be read and construed for all purposes as set out in the Schedule (Amended Revolving Credit Facility Agreement). 
  

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	3.	CONTINUITY AND FURTHER ASSURANCE 

  

	3.1	Continuing obligations 

 The provisions of the
Revolving Credit Facility Agreement shall, save as amended by this Agreement, continue in full force and effect. 
  

	3.2	Further assurance 

 The Company shall, upon the
written request of the Revolving Credit Facility Agent and at its own expense, do all such acts and things reasonably necessary to give effect to the amendments effected or to be effected pursuant to this Agreement. 
  

	4.	MISCELLANEOUS 

  

	4.1	Incorporation of terms 

 The provisions of clause
1.3 (Third Party Rights), clause 1.4 (Non-recourse Liability) and clause 17 (Jurisdiction) of the Schedule shall be incorporated into this Agreement as if set out in full in this Agreement and as if references in those clauses
to “Agreement” are references to this Agreement and cross-references to specified clauses thereof are references to the equivalent clauses set out or incorporated herein. 
  

	4.2	Counterparts 

 This Agreement may be executed in any
number of counterparts, and this has the same effect as if the signatures on the counterparts were on a single copy of this Agreement. 
  

	5.	GOVERNING LAW 

 This Agreement is governed by
English law. 
 This Agreement has been entered into on the date stated at the beginning of this Agreement. 
  

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 SIGNATURES 
  

			
	The Company
	
	WYNN RESORTS (MACAU) S.A.
		
	By:	 	/s/ MATTHEW MADDOX
		
	Address:	 	335-341 Alameda Dr. Carlos d’Assumpção
		 	9th Floor
		 	Hotline Center
		 	Macau
		
	Telephone:	 	(853) 2888 9966
		
	Fax:	 	(853) 2832 9966
		
	Attention:	 	Chief Financial Officer
		
	Copy to:	 	
	
	Wynn Resorts, Limited
		
	Address:	 	3131 Las Vegas Boulevard South
		 	Las Vegas, Nevada 89109
		 	USA
		
	Tel:	 	(1) 702 770 2112
		
	Fax:	 	(1) 702 770 1518
		
	Attention:	 	General Counsel









			
	The Revolving Credit Facility Agent
	
	SOCIÉTÉ GÉNÉRALE, HONG KONG BRANCH
		
	By:	 	/s/ SUNNY LUI SUN PENG
		
	Address:	 	 Level 38, Three Pacific Place
 1 Queen’s Road
East
 Hong Kong

		
	Tel:	 	(852) 2166 5665 / (852) 2166 5667
		
	Fax:	 	(852) 2804 6215
		
	Attention:	 	Michael Poon / Kenneth Choi
	
	Copy to:
		
		 	Société Générale Asia Limited
		
	Address:	 	 Level 38, 3 Pacific Place
 1 Queen’s Road East

 Hong Kong

		
	Tel:	 	(852) 2166 5414/(852) 2166 5316
		
	Fax:	 	(852) 2868 1874
		
	Attention:	 	 Kenny Chan/Karen Cheung
 Commercial Back Office -
Loans










			
	The Revolving Credit Facility Lender
	
	SOCIÉTÉ GÉNÉRALE, NEW YORK BRANCH
		
	By:	 	/s/ PATRICIA WRIGHT
		
	Address:	 	 1221 Avenue of the Americas, 10th Floor
 New York
 NY 10020

		
	Tel:	 	(1) 212 278 5448
		
	Fax:	 	(1) 212 278 7614
		
	Attention:	 	Jerry Parisi








 SCHEDULE 
 AMENDED REVOLVING CREDIT FACILITY AGREEMENT 
 DATED 14 SEPTEMBER 2004 
 WYNN RESORTS (MACAU) S.A. 
 as Company

 SOCIÉTÉ GÉNÉRALE, HONG KONG BRANCH 
 as Revolving Credit Facility Agent 
 and 
 THE REVOLVING CREDIT FACILITY LENDERS 
 referred to herein 
  

 REVOLVING CREDIT FACILITY AGREEMENT 
 (As amended by the Revolving Credit Facility Agreement 
 Amendment Agreement dated 14 September 2005 and the Revolving Credit 
 Facility Second Amendment Agreement dated June 27, 2007) 
  

  

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 CONTENTS 
  

					
	Clause	  	Page
	 1.
	  	Definitions And Interpretation	  	26
	 2.
	  	Common Terms Agreement	  	33
	 3.
	  	The Revolving Credit Facility	  	33
	 4.
	  	Purpose	  	33
	 5.
	  	Conditions Of Utilisation	  	34
	 6.
	  	Availability Of The Revolving Credit Facilities	  	35
	 7.
	  	Repayment	  	35
	 8.
	  	Cancellation	  	36
	 9.
	  	Interest	  	36
	 10.
	  	Interest Periods	  	36
	 11.
	  	Notification	  	36
	 12.
	  	Commitment Fee	  	37
	 13.
	  	Changes To The Parties	  	37
	 14.
	  	Payments	  	38
	 15.
	  	Decision Making Amongst Revolving Credit Facility Lenders	  	39
	 16.
	  	Counterparts	  	40
	 17.
	  	Governing Law	  	40
	 18.
	  	Jurisdiction	  	40
	 Schedule 1 the Revolving Credit Facility Lenders
	  	41
	 Schedule 2 Form Of Advance Request For A Revolving Credit Facility Advance
	  	42

  

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 THIS AGREEMENT is made on 14 September 2004 
 BETWEEN: 
  

	(1)	WYNN RESORTS (MACAU) S.A. (the “Company”); 

  

	(2)	SOCIÉTÉ GÉNÉRALE, HONG KONG BRANCH (the “Revolving Credit Facility Agent”); and 

  

	(3)	THE FINANCIAL INSTITUTIONS listed in Schedule 1 (Original Revolving Credit Facility Lenders) as lenders (the “Original Revolving Credit Facility
Lenders”). 

 WHEREAS: 
 The
Revolving Credit Facility Lenders have agreed to make certain loan facilities available to the Company in connection with the further expansion of the Projects upon the terms and subject to the conditions set out in this Agreement and the Common
Terms Agreement. 
 IT IS AGREED as follows: 
  

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	Definitions 

 In this Agreement, unless otherwise
defined herein, all terms defined in the Common Terms Agreement shall have the same meaning herein and in addition: 
 “Advance
Request” means a request for a Revolving Credit Facility Advance in substantially the form set out in Schedule 2 (Form of Advance Request for a Revolving Credit Facility Advance). 
 “Available Commitment” means, in relation to a Revolving Credit Facility Lender at any time and save as otherwise provided herein, the
aggregate US dollar equivalent amount of Available Tranche A Commitment, Available Tranche B Commitment, Available Tranche C Commitment and Available Tranche D Commitment of such Revolving Credit Facility Lender. 
 “Available Facility” means, at any time, the aggregate US dollar equivalent amount of the Available Tranche A Facility, the Available
Tranche B Facility, the Available Tranche C Facility and the Available Tranche D Facility. 
 “Available Tranche A
Commitment” means, in relation to a Revolving Credit Facility Lender at any time, the amount set out opposite its name under the column entitled “Tranche A Commitment” in Schedule 1 (The Revolving Credit Facility Lenders)
less: 
  

	 	(a)	the aggregate amount of its participation in any outstanding Tranche A Advances (other than, in relation to any proposed Tranche A Advance, such Revolving Credit Facility
Lender’s participation in any Tranche A Advances that are due to be repaid or prepaid on or before the proposed Advance Date); and 

  

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	 	(b)	in relation to any proposed Tranche A Advance, the aggregate amount of its participation in any Tranche A Advances that are due to be made on or before the proposed Advance Date.


 “Available Tranche B Commitment” means, in relation to a Revolving Credit Facility Lender at any time, the
amount set out opposite its name under the column entitled “Tranche B Commitment” in Schedule 1 (The Revolving Credit Facility Lenders) less: 
  

	 	(a)	the aggregate amount of its participation in any outstanding Tranche B Advances (other than, in relation to any proposed Tranche B Advance, such Revolving Credit Facility
Lender’s participation in any Tranche B Advances that are due to be repaid or prepaid on or before the proposed Advance Date); and 

  

	 	(b)	in relation to any proposed Tranche B Advance, the aggregate amount of its participation in any Tranche B Advances that are due to be made on or before the proposed Advance Date.


 “Available Tranche C Commitment” means, in relation to a Revolving Credit Facility Lender at any time, the
amount set out opposite its name under the column entitled “Tranche C Commitment” in Schedule 1 (The Revolving Credit Facility Lenders) less: 
  

	 	(a)	the aggregate amount of its participation in any outstanding Tranche C Advances (other than, in relation to any proposed Tranche C Advance, such Revolving Credit Facility
Lender’s participation in any Tranche C Advances that are due to be repaid or prepaid on or before the proposed Advance Date); and 

  

	 	(b)	in relation to any proposed Tranche C Advance, the aggregate amount of its participation in any Tranche C Advances that are due to be made on or before the proposed Advance Date.


 “Available Tranche D Commitment” means, in relation to a Revolving Credit Facility Lender at any time, the
amount set out opposite its name under the column entitled “Tranche D Commitment” in Schedule 1 (The Revolving Credit Facility Lenders) less: 
  

	 	(a)	the aggregate amount of its participation in any outstanding Tranche D Advances (other than, in relation to any proposed Tranche D Advance, such Revolving Credit Facility
Lender’s participation in any Tranche D Advances that are due to be repaid or prepaid on or before the proposed Advance Date); and 

  

	 	(b)	in relation to any proposed Tranche D Advance, the aggregate amount of its participation in any Tranche D Advances that are due to be made on or before the proposed Advance Date.


 “Available Tranche A Facility” means, at any time, the aggregate amount of the Available Tranche A
Commitments of all the Revolving Credit Facility Lenders at such time. 
 “Available Tranche B Facility” means, at any time,
the aggregate amount of the Available Tranche B Commitments of all the Revolving Credit Facility Lenders at such time. 
  

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 “Available Tranche C Facility” means, at any time, the aggregate amount of the Available
Tranche C Commitments of all the Revolving Credit Facility Lenders at such time. 
 “Available Tranche D Facility” means, at
any time, the aggregate amount of the Available Tranche D Commitments of all the Revolving Credit Facility Lenders at such time. 
 “Common Terms Agreement” means the common terms agreement dated 14 September 2004 and made between, among others, the Company, the financial institutions defined therein as Hotel Facility Lenders, Project Facility
Lenders and Revolving Credit Facility Lenders, the Hotel Facility Agent, the Project Facility Agent, the Revolving Credit Facility Agent, the Intercreditor Agent and the Security Agent, as amended and restated by the Common Terms Agreement Amendment
Agreement and the Common Terms Agreement Second Amendment Agreement. 
 “HIBOR” means, in relation to any Tranche B Advance
or Tranche D Advance: 
  

	 	(a)	the applicable Screen Rate; or 

  

	 	(b)	(if no Screen Rate is available for HK dollars or the Interest Period of that Revolving Credit Facility Advance) the arithmetic mean of the rates (rounded upwards to four decimal
places) as supplied to the Revolving Credit Facility Agent at its request quoted by the Reference Banks to leading banks in the Hong Kong interbank market, 

 at or about 11.00 am (Hong Kong time) on the Quotation Day for the offering of deposits in HK dollars for a period comparable to the Interest Period for that Revolving Credit Facility Advance. 
 “Hotel Revolving Credit Facility” means the Tranche C Facility or the Tranche D Facility and “Hotel Revolving Credit
Facilities” means each of them. 
 “Interest Period” means, in relation to a Revolving Credit Facility Advance, each
period determined in accordance with Clause 10 (Interest Periods). 
 “LIBOR” means, in relation to any Tranche A
Advance or Tranche C Advance: 
  

	 	(a)	the applicable Screen Rate; or 

  

	 	(b)	(if no Screen Rate is available for US dollars or for the Interest Period for that Revolving Credit Facility Advance) the arithmetic mean of the rates (rounded upwards to four
decimal places) as supplied to the Revolving Credit Facility Agent at its request quoted by the Reference Banks to leading banks in the London interbank market, 

 at or about 11:00 a.m. (London time) on the Quotation Day for the offering of deposits in US dollars and for a period comparable to the Interest Period
for that Revolving Credit Facility Advance. 
 “Majority Revolving Credit Facility Lenders” means a Revolving Credit Facility
Lender or Revolving Credit Facility Lenders whose US dollar equivalent participations in the 

  

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Revolving Credit Facility Advances then outstanding and undrawn Available Commitments amount in aggregate to more than 50% of the US dollar equivalent of the
sum of all Revolving Credit Facility Advances then outstanding and undrawn Available Commitments. 
 “Margin” means in
relation to any Revolving Credit Facility Advance hereunder, 1.75% per annum but, if the Quarterly Date falling on the last day of the first full Fiscal Quarter of the Company following the Diamond Opening Date has occurred, the Leverage Ratio
as at the most recent Quarterly Date is within the range set out below and the Intercreditor Agent has received, in accordance with paragraphs 1 and 2 of Part A of Schedule 5 (Covenants) of the Common Terms Agreement, the Company’s
financial statements for the period ending on such Quarterly Date together with the Compliance Certificate required thereunder then, provided (in the case of any decrease in the Margin) no Default has occurred and is continuing, the Margin will be
the percentage per annum specified for that range: 
  

								
	  	 	 Leverage Ratio
	  	Margin	 	 	 
		 	 Less than 3.0
	  	1.25	%	 	
		 	 Greater than or equal to 3.0 but less than 4.0
	  	1.50	%	 	
		 	 Greater than or equal to 4.0 but less than 4.5
	  	1.75	%	 	
		 	 4.5 or above
	  	2.00	%	 	

 Any increase or decrease in the Margin shall take effect from the Business Day following the
satisfaction of the conditions specified above (or, where such Business Day falls less than five Business Days before the end of the then current Interest Period, from the commencement of the next Interest Period). 
 “Project Revolving Credit Facility” means the Tranche A Facility or the Tranche B Facility and “Project Revolving Credit
Facilities” means each of them. 
 “Reference Banks” means, in relation to: 
  

	 	(a)	LIBOR, the principal London offices of Deutsche Bank AG, Société Générale and Citibank, N.A.; and 

  

	 	(b)	HIBOR, the principal Hong Kong offices of Deutsche Bank AG, Société Générale and Citibank, N.A., 

 or such other bank or banks designated from time to time by the Revolving Credit Facility Agent provided that the consent of the Company shall be required
if such designation is made prior to an occurrence of an Event of Default which is continuing. 
 “Revolving Credit Facility”
means the Tranche A Facility, the Tranche B Facility, the Tranche C Facility or the Tranche D Facility. 
 “Revolving Credit Facility
Advance” means, as the context may require, a Tranche A Advance, a Tranche B Advance, a Tranche C Advance or a Tranche D Advance and 
  

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 “Revolving Credit Facility Advances” shall mean each Tranche A Advance, Tranche B
Advance, Tranche C Advance and Tranche D Advance or any of them. 
 “Revolving Credit Facility Lender” means a Tranche A
Facility Lender, a Tranche B Facility Lender, a Tranche C Facility Lender or a Tranche D Facility Lender. 
 “Revolving Credit
Facility Finance Documents” means: 
  

	 	(a)	this Agreement; 

  

	 	(b)	the Common Terms Agreement; 

  

	 	(c)	any other Senior Finance Document to which a Revolving Credit Facility Lender is a party in its capacity as a Revolving Credit Facility Lender; and 

  

	 	(d)	any other document designated as such by the Revolving Credit Facility Agent and the Company. 

 “Revolving Credit Finance Parties” means the Revolving Credit Facility Agent and the Revolving Credit Facility Lenders. 
 “Rollover Advance”, in relation to a Revolving Credit Facility, means one or more Revolving Credit Facility Advances under that Revolving
Credit Facility: 
  

	 	(a)	made or to be made on the same day that a maturing Revolving Credit Facility Advance under that Revolving Credit Facility is due to be repaid; 

  

	 	(b)	the aggregate amount of which is equal to or less than the maturing Revolving Credit Facility Advance under that Revolving Credit Facility; and 

  

	 	(c)	made or to be made to the Company for the purpose of refinancing a maturing Revolving Credit Facility Advance under that Revolving Credit Facility. 

 “Screen Rate” means, in relation to: 
  

	 	(a)	LIBOR, the British Bankers’ Association Interest Settlement Rate for US dollars for the relevant period, displayed on the appropriate page (being currently “LIBOR01”)
of the Reuters Monitor Money Rates Service screen; and 

  

	 	(b)	HIBOR, the rate designated as “FIXING@11:00” (or any other designation which may from time to time replace that designation or, if no such designation appears, the
arithmetic average (rounded upwards, to four decimal places) of the displayed rates for the relevant period) appearing under the heading “HONG KONG INTERBANK OFFERED RATES (HK DOLLAR)” on the Reuters Screen HIBOR1=R Page.


 If the agreed page is replaced or service ceases to be available, the Revolving Credit Facility Agent may specify another
page or service displaying the appropriate rate after consultation with the Company and the Revolving Credit Facility Lenders. 
 “Termination Date” means the fifth anniversary of the Second Amendment Signing Date. 
  

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 “Tranche A Advance” means an advance made or to be made by the Tranche A Facility
Lenders under the Tranche A Facility or the principal amount outstanding for the time being of that advance including a Rollover Advance. 
 “Tranche A Facility” means the US dollar revolving credit facility granted to the Company under Clause 3.1.1 (Grant of the Project Revolving Credit Facilities). 
 “Tranche A Facility Lender” means any commercial bank, financial institution or other entity which: 
  

	 	(a)	is named in Schedule 1 (The Revolving Credit Facility Lenders) as a Tranche A Facility Lender; or 

  

	 	(b)	has become party hereto as a Tranche A Facility Lender in accordance with Clause 13 (Changes to the Parties), 

 and which has not ceased to be a party hereto in accordance with the terms hereof. 
 “Tranche B Advance” means an advance made or to be made by the Tranche B Facility Lenders under the Tranche B Facility or the principal
amount outstanding for the time being of that advance including a Rollover Advance. 
 “Tranche B Facility” means the HK
dollar revolving credit facility granted to the Company under Clause 3.1.2 (Grant of the Project Revolving Credit Facilities). 
 “Tranche B Facility Lender” means any commercial bank, financial institution or other entity which: 
  

	 	(a)	is named in Schedule 1 (The Revolving Credit Facility Lenders) as a Tranche B Facility Lender; or 

  

	 	(b)	has become party hereto as a Tranche B Facility Lender in accordance with Clause 13 (Changes to the Parties), 

 and which has not ceased to be a party hereto in accordance with the terms hereof. 
 “Tranche C Advance” means an advance made or to be made by the Tranche C Facility Lenders under the Tranche C Facility or the principal
amount outstanding for the time being of that advance including a Rollover Advance. 
 “Tranche C Facility” means the US
dollar revolving credit facility granted to the Company under Clause 3.2.1 (Grant of the Hotel Revolving Credit Facilities). 
 “Tranche C Facility Lender” means any commercial bank, financial institution or other entity which: 
  

	 	(a)	is named in Schedule 1 (The Revolving Credit Facility Lenders) as a Tranche C Facility Lender; or 

  

	 	(b)	has become party hereto as a Tranche C Facility Lender in accordance with Clause 13 (Changes to the Parties), 

  

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 and which has not ceased to be a party hereto in accordance with the terms hereof. 
 “Tranche D Advance” means an advance made or to be made by the Tranche D Facility Lenders under the Tranche D Facility or the principal
amount outstanding for the time being of that advance including a Rollover Advance. 
 “Tranche D Facility” means the HK
dollar revolving credit facility granted to the Company under Clause 3.2.2 (Grant of the Hotel Revolving Credit Facilities). 
 “Tranche D Facility Lender” means any commercial bank, financial institution or other entity which: 
  

	 	(a)	is named in Schedule 1 (The Revolving Credit Facility Lenders) as a Tranche D Facility Lender; or 

  

	 	(b)	has become party hereto as a Tranche D Facility Lender in accordance with Clause 13 (Changes to the Parties), 

 and which has not ceased to be a party hereto in accordance with the terms hereof. 
  

	1.2	Interpretation 

 In this Agreement: 
  

	 	1.2.1	the principles of construction contained in Clause 1.2 (Principles of Construction) of the Common Terms Agreement and the rules of interpretation contained in Clause 1.3
(Rules of Interpretation) of the Common Terms Agreement shall apply to the construction and interpretation of this Agreement; 

  

	 	1.2.2	any reference to the “Revolving Credit Facility Agent” or any “Revolving Credit Facility Lender” shall be construed so as to include its or their
(and any subsequent) successors and any permitted transferees in accordance with their respective interests; and 

  

	 	1.2.3	references in this Agreement to any Clause or Schedule shall be to a clause or schedule contained in this Agreement. 

  

	1.3	Third Party Rights 

  

	 	1.3.1	The Contracts (Rights of Third Parties) Act 1999 applies to Clause 1.4 (Non-recourse liability) but only for the benefit of the Operatives and subject always to the terms of
Clause 17 (Governing Law) and Clause 18 (Jurisdiction). 

  

	 	1.3.2	Except as provided in sub-clause 1.3.1 above, a Person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce or enjoy
the benefit of any term of this Agreement. 

  

	 	1.3.3	Save as provided by the Common Terms Agreement, the consent of any Person who is not a party to this Agreement is not required to rescind or vary this Agreement.


  

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	1.4	Non-recourse Liability 

 Notwithstanding any
provision in the Senior Finance Documents to the contrary, no Operative shall be personally liable for payments due hereunder or under any of the Senior Finance Documents or for the performance of any obligation hereunder or thereunder, save, in
relation to any Operative, pursuant to any Senior Finance Document to which such Operative is party. The sole recourse of the Revolving Credit Facility Lenders for satisfaction of any of the obligations of any of the Obligors hereunder and under the
other Senior Finance Documents shall be against the Obligors and not against any assets or property of any Operative, save to the extent such Operative is party to a Senior Finance Document and is expressed to be liable for such obligation
thereunder. In the case of Mr. Wong Chi Seng, his liability shall be limited to his shares in the Company. 
  

	2.	COMMON TERMS AGREEMENT 

 This Agreement and the
rights and obligations of the parties hereto shall be subject to the terms and conditions of the Common Terms Agreement which shall be deemed to be incorporated into this Agreement. In the case of any conflict between the terms of this Agreement and
the terms of the Common Terms Agreement, the terms of this Agreement shall prevail. 
  

	3.	THE REVOLVING CREDIT FACILITIES 

  

	3.1	Grant of the Project Revolving Credit Facilities 

  

	 	3.1.1	Tranche A Facility 

 The Tranche A Facility
Lenders grant to the Company, upon the terms and subject to the conditions hereof, a US dollar revolving credit facility in an aggregate amount of USD258,000,000. 
  

	 	3.1.2	Tranche B Facility 

 The Tranche B Facility
Lenders grant to the Company, upon the terms and subject to the conditions hereof, a HK dollar revolving credit facility in an aggregate amount of HKD4,516,200,000. 
  

	3.2	Grant of the Hotel Revolving Credit Facilities 

  

	 	3.2.1	Tranche C Facility 

 The Tranche C Facility
Lenders grant to the Company, upon the terms and subject to the conditions hereof, a US dollar revolving credit facility in an aggregate amount of USD13,000,000. 
  

	 	3.2.2	Tranche D Facility 

 The Tranche D Facility
Lenders grant to the Company, upon the terms and subject to the conditions hereof, a HK dollar revolving credit facility in an aggregate amount of HKD1,170,000,000. 
  

	4.	PURPOSE 

 The Company shall apply all amounts
borrowed by it under: 
  

 - 33 - 









	 	(a)	the Project Revolving Credit Facilities to pay or refinance payment of Project Costs incurred or to be incurred in connection with the Projects or for the general corporate purposes
of the Group (including investment in Excluded Subsidiaries, Excluded Projects or Resort Management Agreements); and 

  

	 	(b)	the Hotel Revolving Credit Facilities to pay or refinance payment of Hotel Project Costs incurred or to be incurred in connection with the Hotel Project or otherwise for purposes
unconnected with the operation of casino games of chance or other forms of gaming. 

  

	5.	CONDITIONS OF UTILISATION 

  

	5.1	Conditions precedent 

 The provisions of Clause 2.1
(Conditions Precedent to the CP Satisfaction Date) of the Common Terms Agreement are incorporated by reference herein as if the same were set out in full herein. 
  

	5.2	Further conditions precedent 

 The obligation of
each Revolving Credit Facility Lender to participate in each Revolving Credit Facility Advance under this Agreement is subject to the Company having satisfied the following conditions: 
  

	 	(a)	in the case of a Rollover Advance, no Event of Default shall have occurred and is continuing and, in the case of any other Revolving Credit Facility Advance, no Default shall have
occurred and is continuing; 

  

	 	(b)	the representations and warranties contained in Schedule 4 (Representations and Warranties) of the Common Terms Agreement which are repeated by the Company pursuant to Clause
17.2 (Timing) of the Common Terms Agreement are true and correct in all material respects with reference to the facts and circumstances existing on the Advance Date; 

  

	 	(c)	receipt by the Intercreditor Agent of each of the reports, financial statements and other information due pursuant to paragraphs 1 and 2 of Part A of Schedule 5 (Covenants)
of the Common Terms Agreement on or before the proposed Advance Date; and 

  

	 	(d)	the Company shall have paid or arranged for payment out of the requested Revolving Credit Facility Advance of all fees, expenses and other charges then due and payable by it under
the Revolving Credit Facility Finance Documents. 

  

	5.3	Maximum number of Loans 

 The Company may not
deliver an Advance Request for a Revolving Credit Facility Advance if, as a result of the proposed Revolving Credit Facility Advance, more than ten Revolving Credit Facility Advances would be outstanding. 
  

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	6.	AVAILABILITY OF THE REVOLVING CREDIT FACILITIES 

  

	6.1	Drawdown of Advances 

 The provisions of Clause 3
(Drawdown of Advances) and Clause 4.3 (Revolving Credit Facility Availability Period) of the Common Terms Agreement are incorporated by reference herein as if the same were set out in full herein. 
  

	6.2	Each Revolving Credit Facility Lender’s participation 

  

	 	6.2.1	If the conditions set out in this Agreement and the Common Terms Agreement have been met, each Tranche A Facility Lender will participate through its Facility Office in each Tranche
A Advance made pursuant to Clause 6.1 (Drawdown of Advances) in the proportion borne by its Available Tranche A Commitment to the Available Tranche A Facility immediately prior to the making of that Tranche A Advance.


  

	 	6.2.2	If the conditions set out in this Agreement and the Common Terms Agreement have been met, each Tranche B Facility Lender will participate through its Facility Office in each Tranche
B Advance made pursuant to Clause 6.1 (Drawdown of Advances) in the proportion borne by its Available Tranche B Commitment to the Available Tranche B Facility immediately prior to the making of that Tranche B Advance.


  

	 	6.2.3	If the conditions set out in this Agreement and the Common Terms Agreement have been met, each Tranche C Facility Lender will participate through its Facility Office in each Tranche
C Advance made pursuant to Clause 6.1 (Drawdown of Advances) in the proportion borne by its Available Tranche C Commitment to the Available Tranche C Facility immediately prior to the making of that Tranche C Advance.


  

	 	6.2.4	If the conditions set out in this Agreement and the Common Terms Agreement have been met, each Tranche D Facility Lender will participate through its Facility Office in each Tranche
D Advance made pursuant to Clause 6.1 (Drawdown of Advances) in the proportion borne by its Available Tranche D Commitment to the Available Tranche D Facility immediately prior to the making of that Tranche D Advance.


  

	7.	REPAYMENT 

  

	 	(a)	The Company shall repay each Revolving Credit Facility Advance on the last day of its Interest Period. 

  

	 	(b)	Subject to the other terms of this Agreement and the Common Terms Agreement, any amounts repaid (including with a Rollover Advance) under Clause 7(a) above may be re-borrowed.


  

	 	(c)	Any amount of any Revolving Credit Facility Advance still outstanding on the Termination Date shall be repaid on the Termination Date. 

  

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	8.	CANCELLATION 

 Any cancellation of Available
Commitments shall be made in accordance with this Agreement and the Common Terms Agreement (including Clause 8 (Repayment, Prepayment and Cancellation) and Clause 14 (Illegality) of the Common Terms Agreement). 
  

	9.	INTEREST 

  

	9.1	Calculation of interest 

 The rate of interest on
each Revolving Credit Facility Advance for each Interest Period is the percentage rate per annum which is the aggregate of: 
  

	 	(a)	the applicable Margin; and 

  

	 	(b)	LIBOR (in the case of a Tranche A Advance or a Tranche C Advance) or HIBOR (in the case of a Tranche B Advance or a Tranche D Advance). 

  

	9.2	Payment of interest 

 The Company shall pay accrued
interest on each Revolving Credit Facility Advance on the last day of each Interest Period. 
  

	9.3	Default Interest 

 Default interest shall be
calculated and paid in accordance with Clause 9.4 (Default Interest) of the Common Terms Agreement. 
  

	9.4	Notification of rates of interest 

 The Revolving
Credit Facility Agent shall promptly notify the Company and the Revolving Credit Facility Lenders of each determination of LIBOR and HIBOR under this Agreement. 
  

	9.5	Changes to interest rates 

 The Revolving Credit
Facility Agent shall promptly notify the Company and the Intercreditor Agent of any change to any interest rate occasioned by the operation of Clause 10 (Changes to the calculation of interest) of the Common Terms Agreement. 
  

	10.	INTEREST PERIODS 

 The duration of each Interest
Period shall be determined in accordance with Clause 9.3 (Interest Periods) of the Common Terms Agreement. 
  

	11.	NOTIFICATION 

 Promptly, and in any event, not less
than 4 Business Days before the proposed Advance Date for each Revolving Credit Facility Advance, the Revolving Credit Facility Agent shall notify each of the relevant Revolving Credit Facility Lenders of the proposed amount of the relevant
Revolving Credit Facility Advance and the aggregate principal amount of the relevant Revolving Credit Facility Advance allocated to such Revolving Credit Facility Lender pursuant to Clause 6.2 (Each Revolving Credit Facility Lender’s
participation) and each Revolving Credit Facility Lender shall, on such Advance Date, subject to the terms and conditions of this Agreement, make available to the Revolving Credit Facility Agent for the account of the Company its said portion of
such Revolving Credit Facility Advance. 
  

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	12.	COMMITMENT FEE 

  

	12.1	The Company shall pay to each Revolving Credit Facility Lender a fee computed: 

  

	 	(a)	up to and including the Quarterly Date falling on the last day of the first full Fiscal Quarter of the Company following the Diamond Opening Date, at the rate of 0.50% per
annum; and 

  

	 	(b)	thereafter, if the Leverage Ratio as at the most recent Quarterly Date is within the range set out below and the Intercreditor Agent has received, in accordance with paragraphs 1
and 2 of Part A of Schedule 5 (Covenants) of the Common Terms Agreement, the Company’s financial statements for the period ending on such Quarterly Date together with the Compliance Certificate required thereunder then, provided (in the
case of any decrease in the rate set out below) no Default has occurred and is continuing, at the percentage rate per annum specified for that range: 

  

							
	  	 	 Leverage Ratio
	  	 Rate (% per annum)
	  	 
		 	 4.0 or above
	  	0.50  	  	
		 	 Less than 4.0
	  	0.375	  	

 in each case, on that Revolving Credit Facility Lender’s daily Available Commitment from the
Effective Date to the end of the Revolving Credit Facility Availability Period. 
  

	12.2	The accrued commitment fee is payable (in US dollars in respect of accrued commitment fee payable on a Revolving Credit Facility Lender’s Available Tranche A Commitment or
Available Tranche C Commitment and in HK dollars in respect of accrued commitment fee payable on a Revolving Credit Facility Lender’s Available Tranche B Commitment or Available Tranche D Commitment) on the last day of each successive period of
three months which ends during the Revolving Credit Facility Availability Period, on the last day of the Revolving Credit Facility Availability Period and, if cancelled in full or part, on the cancelled amount of the relevant Revolving Credit
Facility Lender’s Available Commitment, immediately prior to the time the cancellation is effective. 

  

	13.	CHANGES TO THE PARTIES 

  

	13.1	Transfers by the Revolving Credit Facility Agent 

 The Revolving Credit Facility Agent may resign in accordance with the Common Terms Agreement and may assign and transfer all of its rights and obligations under the Revolving Credit Facility Finance Documents to a replacement Revolving
Credit Facility Agent appointed in accordance with the terms of the Common Terms Agreement. 
  

	13.2	Transfers by the Company 

 The Company may not
assign, transfer, novate or dispose of any of its rights or obligations under the Revolving Credit Facility Finance Documents. 
  

	13.3	Transfers by the Revolving Credit Facility Lenders 

 A Revolving Credit Facility Lender may assign, transfer or novate any of its rights and/or obligations under the Revolving Credit Facility Finance Documents in accordance with 

  

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Clause 21.4 (Assignment and Transfer by Lenders), Clause 21.5 (Assignments by Lenders) and Clause 21.6 (Transfers by Lenders) of the
Common Terms Agreement. 
  

	13.4	Assignment and Transfer Fees 

 On the date upon
which an assignment takes effect pursuant to Clause 21.5 (Assignments by Lenders) of the Common Terms Agreement or a transfer takes effect pursuant to Clause 21.6 (Transfers by Lenders) of the Common Terms Agreement, the relevant
assignee or Transferee shall pay to the Intercreditor Agent for its own account a fee in accordance with Clause 21.7 of the Common Terms Agreement. 
  

	14.	PAYMENTS 

  

	14.1	Payments 

  

	 	14.1.1	All payments under this Agreement shall be made in accordance with Clause 26 (Payment Mechanics) of the Common Terms Agreement. 

  

	 	14.1.2	Subject to Clause 26 (Payment Mechanics) of the Common Terms Agreement, on each date on which this Agreement requires an amount to be paid by the Company or a Revolving
Facility Lender, the Company or, as the case may be, such Revolving Credit Facility Lender, shall make the same available to the Revolving Credit Facility Agent for value on such due date and at such time and in such funds and to such account with
such bank as the Revolving Credit Facility Agent shall specify from time to time. 

  

	14.2	Partial Payments 

  

	 	14.2.1	If the Revolving Credit Facility Agent receives a payment that is insufficient to discharge all the amounts then due and payable by the Company to the Revolving Credit Facility
Lenders under the Revolving Credit Facility Finance Documents, the Revolving Credit Facility Agent shall apply that payment towards the obligations of the Company under the Revolving Credit Facility Finance Documents in the following order:


  

	 	(a)	first, in or towards payment pro rata of all amounts paid by the Revolving Credit Facility Lenders under Clause 23.15 (Indemnity to Intercreditor Agent) of the
Common Terms Agreement but which have not been reimbursed by the Company; 

  

	 	(b)	secondly, in or towards payment pro rata of all amounts paid by the Revolving Credit Facility Lenders under Clause 15.3 (Indemnity to Revolving Credit Facility
Agent) but which have not been reimbursed by the Company; 

  

	 	(c)	thirdly, in or towards payment pro rata of all costs and expenses incurred by the Revolving Credit Facility Lenders which the Company is obliged to reimburse;


  

	 	(d)	fourthly, in or towards payment pro rata of all accrued and unpaid interest (including default interest), fees and commissions due to the Revolving Credit Facility
Lenders under the Revolving Credit Facility Finance Documents; 

  

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	 	(e)	fifthly, in or towards payment pro rata of any principal due to the Revolving Credit Facility Lenders under the Revolving Credit Facility Finance Documents but unpaid;
and 

  

	 	(f)	sixthly, in or towards payment pro rata of any other sum due to the Revolving Credit Facility Lenders under the Revolving Credit Facility Finance Documents but unpaid.


  

	 	14.2.2	The Revolving Credit Facility Agent shall, if so directed by the Majority Revolving Credit Facility Lenders, vary the order set out in sub-clause 14.2.1 above.


  

	 	14.2.3	Sub-clause 14.2.1 above will override any appropriation made by the Company. 

  

	15.	DECISION MAKING AMONGST REVOLVING CREDIT FACILITY LENDERS 

  

	15.1	Decisions 

 Save as otherwise set out herein and
subject to the Common Terms Agreement, the required Senior Secured Creditors for the purposes of any decision within the scope of Clause 34.2 (Amendment and waiver of Facility Agreements) of the Common Terms Agreement relating to this
Agreement shall be the Revolving Credit Facility Agent acting on the instructions of the Majority Revolving Credit Facility Lenders. 
  

	15.2	Failure to Give Instructions 

 If the Revolving
Credit Facility Agent gives notice to the Revolving Credit Facility Lenders requesting their specific instructions on any matter referred to in Clause 15.1 (Decisions) and it specifies in such notice that the Revolving Credit Facility Lenders
are to give such instructions by a certain date and time specified in such notice, any Revolving Credit Facility Lender which fails to respond by the date and time so specified shall have its portion of the Revolving Credit Facility Advances and its
Available Commitment disregarded for all purposes of determining whether instructions have been given to the Revolving Credit Facility Agent by the Majority Revolving Credit Facility Lenders (and, for the purposes of determining the Available
Facility or the amount of all Revolving Credit Facility Advances outstanding, the Available Commitments and portion of Revolving Credit Facility Advances of such Revolving Credit Facility Lender shall be deducted). 
  

	15.3	Indemnity to Revolving Credit Facility Agent 

  

	 	15.3.1	 Each Revolving Credit Facility Lender shall, rateably in accordance with the proportion that the US dollar equivalent of the sum of its Available Commitments and
its participations in any outstanding Revolving Credit Facility Advances bear to the US dollar equivalent of the aggregate of the Available Commitments and such participations of all the Revolving Credit Facility Lenders (or, if all such amounts
have been reduced to zero, such proportion determined immediately prior to such reduction) for the time being, indemnify the Revolving Credit Facility Agent, within fifteen days of demand, against any cost, loss or liability incurred by the
Revolving Credit Facility Agent (other than by reason of the negligence or wilful misconduct of the Revolving Credit Facility Agent) in acting as Revolving Credit Facility Agent under any of the Senior Finance Documents (unless the 



  

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Revolving Credit Facility Agent has been reimbursed by the Company pursuant to a Senior Finance Document). 


  

	 	15.3.2	Provided that the Company is required to reimburse or indemnify the Revolving Credit Facility Agent for such cost, loss or liability in accordance with the terms of the Senior
Finance Documents, the Company shall, within fifteen days of demand in writing by any Revolving Credit Facility Lender, indemnify such Revolving Credit Facility Lender in relation to any payment actually made by such Revolving Credit Facility Lender
pursuant to Clause 15.3.1 above. 

  

	16.	COUNTERPARTS 

 This Agreement may be executed in any
number of counterparts, all of which taken together shall constitute one and the same instrument. 
  

	17.	GOVERNING LAW 

 This Agreement shall be governed by
English law. 
  

	18.	JURISDICTION 

  

	18.1	Jurisdiction of English courts 

  

	 	18.1.1	The courts of England have exclusive jurisdiction to settle any dispute arising out of or in connection with this Agreement (including a dispute regarding the existence, validity or
termination of this Agreement or the consequences of its nullity) (a “Dispute”). 

  

	 	18.1.2	The Parties agree that the courts of England are the most appropriate and convenient courts to settle Disputes and accordingly they will not argue to the contrary.


  

	 	18.1.3	This Clause 18.1 (Jurisdiction of English Courts) is for the benefit of the Revolving Credit Facility Lenders only. As a result, no Revolving Credit Facility Lender shall be
prevented from taking proceedings relating to a Dispute in any other courts with jurisdiction. To the extent allowed by law and the Revolving Credit Facility Finance Documents, the Revolving Credit Facility Lenders may take concurrent proceedings in
any number of jurisdictions. 

  

	18.2	Service of process 

 Without prejudice to any other
mode of service allowed under any relevant law, the Company: 
  

	 	(a)	irrevocably appoints Law Debenture Corporate Services Limited as its agent for service of process in relation to any proceedings before the English courts in connection with this
Agreement; and 

  

	 	(b)	agrees that failure by a process agent to notify the Company of the process will not invalidate the proceedings concerned. 

  

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 SCHEDULE 1 
 THE REVOLVING CREDIT FACILITY LENDERS 
  

									
	 Revolving Credit Facility Lender
	  	Tranche A
Commitment
(USD)	  	Tranche B
Commitment
(HKD)	  	Tranche C
Commitment
(USD)	  	Tranche D
Commitment
(HKD)
	 Société Générale, New York Branch
	  	258,000,000	  	4,516,200,000	  	13,000,000	  	1,170,000,000
	 Total
	  	258,000,000	  	4,516,200,000	  	13,000,000	  	1,170,000,000

  

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 SCHEDULE 2 
 FORM OF ADVANCE REQUEST FOR A REVOLVING CREDIT FACILITY ADVANCE 
  

					
	 To:
	  	[                    ]	  	as Intercreditor Agent
			
		  	[                    ]	  	as Revolving Credit Facility Agent
			
	 Date:
	  	[                    ]	  	

 Dear Sirs, 
 Wynn
Resorts (Macau) S.A. - Revolving Credit Facility Agreement dated 14 September 2004 (the “Agreement”) 
 Advance Request No.
[    ] 
  

	1.	We refer to the Agreement and the common terms agreement (the “Common Terms Agreement”) dated 14 September 2004 and made between, among others, Wynn Resorts
(Macau) S.A. (the “Company”), the financial institutions defined therein as Hotel Facility Lenders, Project Facility Lenders and Revolving Credit Facility Lenders, the Hotel Facility Agent, the Project Facility Agent, the
Intercreditor Agent and the Security Agent. Terms defined in the Common Terms Agreement shall have the same meaning herein and the principles of construction and rules of interpretation set out therein shall also apply. 

  

	2.	This is an Advance Request given pursuant to Clause 3 (Drawdown of Advances) of the Common Terms Agreement. 

  

	3.	This Advance Request is irrevocable. 

  

	4.	We hereby give you notice that, upon the terms and subject to the conditions contained in the Common Terms Agreement and the Revolving Credit Facility Agreement, we wish to borrow
the following Revolving Credit Facility Advance under the following Revolving Credit Facility on the following terms: 

  

			
	 Proposed Advance Date:
	  	[                    ]
		
	 Revolving Credit Facility:
	  	[Tranche A/Tranche B/Tranche C/Tranche D] Facility
		
	 Amount:
	  	[USD][HKD][            ]
		
	 To be applied towards:
	  	[                    ]
		
	 Interest Period:
	  	[1, 2, 3 or 6] months

  

	5.	We confirm that: 

  

	 	(a)	each condition specified in Clause 5.2 (Further Conditions Precedent) of the Agreement is satisfied on the date of this Advance Request; 

  

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	 	(b)	the above purpose and Revolving Credit Facility Advance complies with the permitted use of the Revolving Credit Facilities under the Revolving Credit Facility Agreement and Clause 5
(Purpose) of the Common Terms Agreement and that no part of the above Revolving Credit Facility Advance shall be applied otherwise than as mentioned in paragraph 4 above; [and] 

  

	 	(c)	since the CP Satisfaction Date, no Material Adverse Effect has occurred and is continuing nor could reasonably be expected to occur[.][; and 

  

	 	 (d)
	 the US dollar equivalent of the amount of the above Revolving Credit Facility Advance, when aggregated with the
aggregate US dollar equivalent amount of Advances under the Hotel Facility and the US dollar equivalent amounts of all other Revolving Credit Facility Advances under the Hotel Revolving Credit Facilities which are outstanding or due to be made on or
before the proposed Advance Date referred to above (other than any due to be repaid or prepaid on or before such Advance Date) is no greater than the US dollar equivalent amount of the aggregate of all Hotel Project Costs or other amounts
unconnected with the operation of casino games of chance or other forms of gaming incurred and paid, or which will be incurred and paid, by the Company.]1 


  

	 6.
	 We attach signed but undated receipts for the Revolving Credit Facility Advance requested above and hereby authorise the
Revolving Facility Lenders to date such receipts on the date such Revolving Credit Facility Advances are made.2



  

	7.	The proceeds of the above Revolving Credit Facility Advance should be credited to [            ].


  

			
	 Yours faithfully,
	 	
		
	  
	 	
	 Name:
	 	
	 3Responsible Officer
 for and on behalf of
	 	
	 Wynn Resorts (Macau) S.A.
	 	

 Attachments: Receipts for the Revolving Credit Facility Advance 


	 1
	 Include where the Revolving Credit Facility Advance requested is a Revolving Credit Facility Advance
under a Hotel Revolving Credit Facility. 



	 2
	 Each receipt must be numbered in series, the number corresponding to the number in the heading of the
relevant Advance Request. 



	 3
	 Each Advance Request must be signed by an officer of the Company whose specimen signature has been
delivered to the Intercreditor Agent pursuant to Clause 3.2.1 of the Common Terms Agreement. 


  

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