EXECUTION VERSION
Published CUSIP Number: 60902UAF3
Revolving Loan CUSIP Number: 60902UAG1
Term Loan CUSIP Number: 60902UAH9
FOURTH AMENDED AND RESTATED CREDIT AGREEMENT
among
MONARCH CASINO & RESORT, INC.,
GOLDEN ROAD MOTOR INN, INC.,
MONARCH GROWTH INC.,
and
MONARCH BLACK HAWK, INC.
as Borrowers,
THE LENDERS NAMED HEREIN,
and
WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Administrative Agent, L/C Issuer and Swing Line Lender
WELLS FARGO SECURITIES, LLC,
BOFA SECURITIES, INC.
and
U.S. BANK NATIONAL ASSOCIATION,
as Joint Lead Arrangers and Joint Bookrunners
BANK OF AMERICA, N.A.,
as Syndication Agent
U.S. BANK NATIONAL ASSOCIATION,
as Documentation Agent
Dated as of September 3, 2020
4159-4780-3173
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Table of Contents
Page
ARTICLE I.INTERPRETATION 1
1.01.Definitions 1
1.02.GAAP 47
1.03.Headings 47
1.04.Plural Terms 47
1.05.Time 47
1.06.Governing Law 47
1.07.Construction 48
1.08.Entire Agreement 48
1.09.Calculation of Interest and Fees 48
1.10.References 48
1.11.Other Interpretive Provisions 49
1.12.Rounding 49
1.13.Joint and Several Obligations 49
1.14.Divisions 49
1.15.Rates 49
1.16.Amendment and Restatement 49
ARTICLE II.CREDIT FACILITIES 50
2.01.Loan Facility 50
2.02.Letters of Credit 58
2.03.Swing Line 68
2.04.Amount Limitations, Commitment Reductions, Etc 71
2.05.Fees 72
2.06.Prepayments 72
2.07.Other Payment Terms 77
2.08.Loan Accounts; Notes 78
2.09.Loan Funding 80
2.10.Pro Rata Treatment 81
2.11.Change of Circumstances 83
2.12.Taxes on Payments 85
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2.13.Funding Loss Indemnification 89
2.14.Security 90
2.15.Lender Mitigation; Replacement of the Lenders 90
2.16.Defaulting Lenders 92
2.17.Effect of Benchmark Transition Event 95
2.18.Amend and Extend Transactions 96
ARTICLE III.CONDITIONS PRECEDENT 98
3.01.Initial Conditions Precedent 98
3.02.Conditions Precedent to each Credit Event 98
ARTICLE IV.REPRESENTATIONS AND WARRANTIES 99
4.01.Representations and Warranties 100
4.02.Reaffirmation 109
ARTICLE V.COVENANTS 109
5.01.Affirmative Covenants 109
5.02.Negative Covenants 118
5.03.Financial Covenants 127
ARTICLE VI.EVENTS OF DEFAULT 128
6.01.Events of Default 128
6.02.Remedies 132
ARTICLE VII.ADMINISTRATIVE AGENT AND RELATIONS AMONG LENDERS 134
7.01.Appointment, Powers and Immunities 134
7.02.Reliance by the Administrative Agent 135
7.03.Defaults 136
7.04.Indemnification 136
7.05.Non-Reliance 136
7.06.Resignation of the Administrative Agent 137
7.07.Collateral Matters 137
7.08.Performance of Conditions 138
7.09.The Administrative Agent in its Individual Capacity; Other
Relationships 138
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7.10.Collateral Matters/Lender Rate Contracts/Lender Bank Products 139
7.11.Administrative Agent May File Proofs of Claim 139
7.12.Application of Gaming Laws 140
ARTICLE VIII.MISCELLANEOUS 140
8.01.Notices 140
8.02.Expenses 143
8.03.Indemnification 143
8.04.Waivers; Amendments 145
8.05.Successors and Assigns 148
8.06.Setoff; Security Interest 153
8.07.No Third Party Rights 154
8.08.Partial Invalidity 154
8.09.Jury Trial 154
8.10.Confidentiality 155
8.11.Counterparts 155
8.12.Consent to Jurisdiction 155
8.13.Relationship of Parties 156
8.14.Time 156
8.15.Waiver of Punitive Damages 156
8.16.USA PATRIOT Act 156
8.17.Waivers and Agreements of Borrowers 157
8.18.Clarification 157
8.19.Costs to Prevailing Party 158
8.20.Notes 158
8.21.Acknowledgement and Consent to Bail-In of Affected Institutions 158
8.22.Certain ERISA Matters 158
8.23.Acknowledgement Regarding any Supported QFCs 161
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Table of Contents
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Page
SCHEDULES
SCHEDULE I-THE LENDERS
SCHEDULE II-EXISTING LETTERS OF CREDIT
SCHEDULE A-ATLANTIS REAL PROPERTY
SCHEDULE B-V/P PROPERTY
SCHEDULE 3.01-CONDITIONS PRECEDENT TO CLOSING
SCHEDULE 4.01(G)-LITIGATION
SCHEDULE 4.01(H)-REAL PROPERTY
SCHEDULE 4.01(J)(II)-EQUITY SECURITIES
SCHEDULE 4.01(K)-MULTIEMPLOYER PLANS
SCHEDULE 4.01(O)-SUBSIDIARIES
SCHEDULE 4.01(U)-INSURANCE
SCHEDULE 4.01(V)-AGREEMENTS WITH AFFILIATES, ETC.
SCHEDULE 5.01(Q)POST-CLOSING
SCHEDULE 5.02(B)-EXISTING LIENS
SCHEDULE 5.02(E)-EXISTING INVESTMENTS
EXHIBITS
EXHIBIT A-NOTICE OF LOAN BORROWING
EXHIBIT B-NOTICE OF CONVERSION
EXHIBIT C-NOTICE OF INTEREST PERIOD SELECTION
EXHIBIT D-NOTICE OF SWING LOAN BORROWING
EXHIBIT E-REVOLVING LOAN NOTE
EXHIBIT F-SWING LOAN NOTE
EXHIBIT G-ASSIGNMENT AGREEMENT
EXHIBIT H-COMPLIANCE CERTIFICATE
EXHIBIT I-TERM LOAN NOTE
EXHIBIT J-U.S. TAX COMPLIANCE CERTIFICATE
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Graphic [mcri-20200903xex10d13006.jpg]
FOURTH AMENDED AND RESTATED CREDIT AGREEMENT
THIS FOURTH AMENDED AND RESTATED CREDIT AGREEMENT, dated as of September 3,
2020, is entered into by and among: (1) MONARCH CASINO