Document:

EX-10.2

 Exhibit 10.2 

FIRST LIEN CREDIT AGREEMENT 

Dated as of [            ], 

Among 
 VICI PROPERTIES 1 LLC, as
the Borrower, 
 THE LENDERS PARTY HERETO, 

and 
 WILMINGTON TRUST, NATIONAL
ASSOCIATION, 
 as Administrative Agent, 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE I Definitions
	  	 	2	 
	 Section 1.01 Defined Terms
	  	 	2	 
	 Section 1.02 Terms Generally
	  	 	71	 
	 Section 1.03 Effectuation of Transactions
	  	 	72	 
	 Section 1.04 Exchange Rates; Currency Equivalents
	  	 	72	 
	 Section 1.05 Times of Day
	  	 	72	 
	 Section 1.06 Timing of Payment or Performance
	  	 	72	 
	 Section 1.07 Financial Ratios
	  	 	72	 
	 Section 1.08 Compliance with Certain Sections
	  	 	72	 
	 Section 1.09 Letter of Credit Amounts
	  	 	73	 
	 Section 1.10 Limited Condition Transactions
	  	 	73	 
		
	 ARTICLE II The Credits
	  	 	74	 
	 Section 2.01 Commitments
	  	 	74	 
	 Section 2.02 Loans and Borrowings
	  	 	74	 
	 Section 2.03 Requests for Borrowings
	  	 	75	 
	 Section 2.04 Swingline Loans
	  	 	76	 
	 Section 2.05 The Letter of Credit Commitment
	  	 	79	 
	 Section 2.06 Funding of Borrowings
	  	 	89	 
	 Section 2.07 Interest Elections
	  	 	89	 
	 Section 2.08 Termination and Reduction of Revolving Facility Commitments
	  	 	91	 
	 Section 2.09 Repayment of Loans; Evidence of Debt
	  	 	92	 
	 Section 2.10 Repayment of Term Loans and Revolving Facility Loans
	  	 	92	 
	 Section 2.11 Prepayment of Loans
	  	 	94	 
	 Section 2.12 Fees
	  	 	99	 
	 Section 2.13 Interest
	  	 	101	 
	 Section 2.14 Alternate Rate of Interest
	  	 	101	 
	 Section 2.15 Increased Costs
	  	 	102	 
	 Section 2.16 Break Funding Payments
	  	 	103	 
	 Section 2.17 Taxes
	  	 	104	 
	 Section 2.18 Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	  	 	107	 
	 Section 2.19 Mitigation Obligations; Replacement of Lenders
	  	 	109	 
	 Section 2.20 Illegality
	  	 	110	 
	 Section 2.21 Incremental Commitments
	  	 	111	 
	 Section 2.22 Defaulting Lenders
	  	 	120	 
		
	 ARTICLE III Representations and Warranties
	  	 	122	 
	 Section 3.01 Organization; Powers
	  	 	122	 
	 Section 3.02 Authorization
	  	 	123	 
	 Section 3.03 Enforceability
	  	 	123	 
	 Section 3.04 Governmental Approvals
	  	 	123	 
	 Section 3.05 Financial Statements
	  	 	123	 
	 Section 3.06 No Material Adverse Effect
	  	 	124	 

					
	 Section 3.07 Title to Properties; Possession Under Leases
	  	 	124	 
	 Section 3.08 Subsidiaries
	  	 	125	 
	 Section 3.09 Litigation; Compliance with Laws
	  	 	125	 
	 Section 3.10 Federal Reserve Regulations
	  	 	125	 
	 Section 3.11 Investment Company Act
	  	 	126	 
	 Section 3.12 Use of Proceeds
	  	 	126	 
	 Section 3.13 Tax Returns
	  	 	126	 
	 Section 3.14 No Material Misstatements
	  	 	126	 
	 Section 3.15 Employee Benefit Plans
	  	 	127	 
	 Section 3.16 Environmental Matters
	  	 	127	 
	 Section 3.17 Security Documents
	  	 	128	 
	 Section 3.18 Location of Real Property; Vessel Data
	  	 	130	 
	 Section 3.19 Solvency
	  	 	130	 
	 Section 3.20 Labor Matters
	  	 	131	 
	 Section 3.21 No Default
	  	 	131	 
	 Section 3.22 Intellectual Property; Licenses, Etc.
	  	 	131	 
	 Section 3.23 Senior Debt
	  	 	131	 
	 Section 3.24 Anti-Money Laundering and Economic Sanctions Laws
	  	 	131	 
	 Section 3.25 Insurance
	  	 	132	 
	 Section 3.26 Citizenship
	  	 	132	 
	 Section 3.27 Vessels
	  	 	132	 
	 Section 3.28 REIT Status
	  	 	133	 
		
	 ARTICLE IV Conditions of Lending
	  	 	133	 
	 Section 4.01 All Credit Events
	  	 	133	 
	 Section 4.02 First Credit Event
	  	 	133	 
		
	 ARTICLE V Affirmative Covenants
	  	 	136	 
	 Section 5.01 Existence; Businesses and Properties
	  	 	136	 
	 Section 5.02 Insurance
	  	 	137	 
	 Section 5.03 Taxes
	  	 	138	 
	 Section 5.04 Financial Statements, Reports, etc.
	  	 	138	 
	 Section 5.05 Litigation and Other Notices
	  	 	141	 
	 Section 5.06 Compliance with Laws
	  	 	141	 
	 Section 5.07 Maintaining Records; Access to Properties and Inspections
	  	 	142	 
	 Section 5.08 Use of Proceeds
	  	 	142	 
	 Section 5.09 Compliance with Environmental Laws
	  	 	142	 
	 Section 5.10 Further Assurances; Additional Security
	  	 	142	 
	 Section 5.11 Real Property Development Matters
	  	 	147	 
	 Section 5.12 Rating
	  	 	149	 
	 Section 5.13 Management Agreement
	  	 	149	 
	 Section 5.14 Fiscal Year
	  	 	149	 
	 Section 5.15 No Other “Designated Senior Debt”
	  	 	149	 
		
	 ARTICLE VI Negative Covenants
	  	 	149	 
	 Section 6.01 Indebtedness
	  	 	150	 
	 Section 6.02 Liens
	  	 	156	 

  
 ii 

					
	 Section 6.03 Sale and Lease-Back Transactions
	  	 	162	 
	 Section 6.04 Investments, Loans and Advances
	  	 	163	 
	 Section 6.05 Mergers, Consolidations and Sales of Assets
	  	 	167	 
	 Section 6.06 Restricted Payments
	  	 	171	 
	 Section 6.07 Transactions with Affiliates
	  	 	174	 
	 Section 6.08 Business of the Borrower
	  	 	177	 
	 Section 6.09 Limitation on Modifications of Certain Indebtedness; Modifications of
Certificate of Incorporation, By-Laws and Certain Other Agreements; etc.
	  	 	177	 
	 Section 6.10 [Reserved]
	  	 	180	 
		
	 ARTICLE VII Events of Default
	  	 	181	 
	 Section 7.01 Events of Default
	  	 	181	 
	 Section 7.02 Right to Cure
	  	 	184	 
		
	 ARTICLE VIII The Agents
	  	 	185	 
	 Section 8.01 Appointment
	  	 	185	 
	 Section 8.02 Delegation of Duties
	  	 	186	 
	 Section 8.03 Exculpatory Provisions
	  	 	186	 
	 Section 8.04 Reliance by Agents
	  	 	187	 
	 Section 8.05 Notice of Default and Lender Direction
	  	 	187	 
	 Section 8.06 Non-Reliance on Administrative Agent, Collateral Agent and Other
Lenders
	  	 	188	 
	 Section 8.07 Indemnification
	  	 	188	 
	 Section 8.08 Agents in their Individual Capacity
	  	 	189	 
	 Section 8.09 Successor Agents
	  	 	189	 
	 Section 8.10 Payments Set Aside
	  	 	190	 
	 Section 8.11 Administrative Agent May File Proofs of Claim
	  	 	190	 
	 Section 8.12 Collateral and Guaranty Matters
	  	 	191	 
	 Section 8.13 [Reserved]
	  	 	191	 
	 Section 8.14 First Lien Intercreditor Agreement and Collateral Matters
	  	 	191	 
	 Section 8.15 Withholding Tax
	  	 	192	 
		
	 ARTICLE IX Miscellaneous
	  	 	192	 
	 Section 9.01 Notices; Communications
	  	 	192	 
	 Section 9.02 Survival of Agreement
	  	 	194	 
	 Section 9.03 Binding Effect
	  	 	194	 
	 Section 9.04 Successors and Assigns
	  	 	194	 
	 Section 9.05 Expenses; Indemnity
	  	 	200	 
	 Section 9.06 Right of Set-off
	  	 	202	 
	 Section 9.07 Applicable Law
	  	 	202	 
	 Section 9.08 Waivers; Amendment
	  	 	202	 
	 Section 9.09 Interest Rate Limitation
	  	 	205	 
	 Section 9.10 Entire Agreement
	  	 	206	 
	 Section 9.11 WAIVER OF JURY TRIAL
	  	 	206	 
	 Section 9.12 Severability
	  	 	206	 
	 Section 9.13 Counterparts
	  	 	206	 

  
 iii 

					
	 Section 9.14 Headings
	  	 	206	 
	 Section 9.15 Jurisdiction; Consent to Service of Process
	  	 	207	 
	 Section 9.16 Confidentiality
	  	 	207	 
	 Section 9.17 Platform; Borrower Materials
	  	 	208	 
	 Section 9.18 Release of Liens, Guarantees and Pledges
	  	 	209	 
	 Section 9.19 Judgment Currency
	  	 	211	 
	 Section 9.20 USA PATRIOT Act Notice
	  	 	211	 
	 Section 9.21 No Advisory or Fiduciary Responsibility
	  	 	211	 
	 Section 9.22 Application of Gaming Laws
	  	 	212	 
	 Section 9.23 Vessels and Admiralty Related Matters
	  	 	213	 
	 Section 9.24 Affiliate Lenders
	  	 	214	 
	 Section 9.25 Acknowledgement and Consent to Bail-In of EEA Financial Institutions
	  	 	214	 

  
 iv 

 Exhibits and Schedules 
  

			
		
	Exhibit A	  	Form of Assignment and Acceptance
		
	Exhibit B	  	Form of Borrowing Request
		
	Exhibit C	  	Form of Swingline Borrowing Request
		
	Exhibit D	  	Form of Interest Election Request
		
	Exhibit E-1	  	Form of Mortgage
		
	Exhibit E-2	  	Form of Ship Mortgage
		
	Exhibit F	  	Form of Permitted Loan Purchase Assignment and Acceptance
		
	Exhibit G	  	Form of Discounted Prepayment Option Notice
		
	Exhibit H	  	Form of Lender Participation Notice
		
	Exhibit I	  	Form of Discounted Voluntary Prepayment Notice
		
	Exhibit J	  	Form of Solvency Certificate
		
	Exhibit K	  	Form of Global Intercompany Note
		
	Exhibit L	  	Form of Subordination, Non-Disturbance and Attornment Agreements
		
	Exhibit M	  	Form of Collateral Agreement
		
	Exhibit N	  	Form of Assignment of Earnings, Charterparties and Requisition Compensation
		
	Exhibit O	  	Form of Assignment of Insurances
		
	Exhibit P	  	Form of Subsidiary Guarantee Agreement
		
	Exhibit Q	  	Form of First Lien Intercreditor Agreement
		
	Exhibit R	  	Form of Junior Lien Intercreditor Agreement
		
	Schedule 1.01(A)	  	Mortgaged Properties and Mortgaged Vessels
		
	Schedule 1.01(B)	  	Subsidiary Loan Parties
		
	Schedule 1.01(C)	  	Undeveloped Land

  
 v 

			
		
	Schedule 1.01(D)	  	Closing Date Unrestricted Subsidiaries
		
	Schedule 2.01	  	Commitments
		
	Schedule 3.01	  	Organization; Powers
		
	Schedule 3.04	  	Governmental Approvals
		
	Schedule 3.07(b)	  	Proceedings against Mortgaged Properties
		
	Schedule 3.08(a)	  	Subsidiaries
		
	Schedule 3.08(b)	  	Subscriptions
		
	Schedule 3.15(a)	  	ERISA
		
	Schedule 3.16	  	Environmental
		
	Schedule 3.22	  	Intellectual Property Rights
		
	Schedule 4.02(b)	  	Local Counsel
		
	Schedule 5.10	  	Post-Closing Items
		
	Schedule 6.01	  	Existing Indebtedness
		
	Schedule 6.02(a)	  	Existing Liens
		
	Schedule 6.04	  	Existing Investments
		
	Schedule 6.07	  	Transactions with Affiliates
		
	Schedule 9.01	  	Notice Information

  
 vi 

 FIRST LIEN CREDIT AGREEMENT, dated as of
[            ] (this “Agreement”), among VICI Properties 1 LLC, a Delaware limited liability company (the “Borrower”), the Lenders party hereto from time
to time and Wilmington Trust, National Association, as administrative agent and collateral agent for the Lenders. 
 WHEREAS, on
January 15, 2015 (the “Petition Date”), Caesars Entertainment Operating Company, Inc., a Delaware corporation (“CEOC”), and each other Debtor (as defined herein) filed a voluntary petition for relief (the
“Chapter 11 Case”) under Chapter 11 of Title 11 of the United States Code (as amended, modified, or supplemented from time to time, the “Bankruptcy Code”) in the United States Bankruptcy Court for the Northern
District of Illinois (the “Bankruptcy Court”) and each continued in the possession of its property and in the management of its business pursuant to Sections 1107 and 1108 of the Bankruptcy Code. 

WHEREAS, CEOC, the Prepetition Lenders and the Prepetition Agent (each as defined below) are parties to that certain Third Amended and
Restated Credit Agreement, dated as of July 25, 2014 (as amended, modified, waived or supplemented from time to time, “Prepetition Credit Agreement”), pursuant to which the Prepetition Lenders and the Prepetition Agent made
certain loans, advances and other financial accommodations on terms and conditions set forth therein. 
 WHEREAS, on January 17, 2017,
the Bankruptcy Court entered the Confirmation Order confirming the Debtors’ Third Amended Joint Plan of Reorganization pursuant to Chapter 11 of the Bankruptcy Code (as amended, modified, waived or supplemented from time to time, the
“Plan of Reorganization”). 
 WHEREAS, in connection with the confirmation and implementation of and pursuant to the Plan
of Reorganization, CEOC, VICI Properties Inc., a Maryland corporation (the “Parent”), PropCo and the Borrower have undertaken a series of transactions, including (i) CEOC forming Parent as a new entity, and Parent in turn
forming PropCo and PropCo GP LLC, a Delaware limited liability company, as the general partner of PropCo, (ii) PropCo forming the Borrower, (iii) the Borrower forming certain Subsidiaries to hold certain property contributed, indirectly,
from CEOC and its Subsidiaries, (iv) CEOC contributing (or causing the contribution of) (x) certain properties to the Borrower and its Subsidiaries, and (y) certain golf course assets to VICI Golf, LLC, a Delaware corporation
(“TRS”), a subsidiary of Parent, and (v) CEOC merging with and into OpCo with OpCo surviving such merger (the “CEOC Merger”). 

WHEREAS, further in connection with the confirmation and implementation of the Plan of Reorganization, certain of the Subsidiaries of Borrower
are entering into the Lease Agreements with CEOC in respect of the properties previously contributed by CEOC to the Borrower in connection with the Plan of Reorganization. 

WHEREAS, the Borrower and the Subsidiary Guarantors are entering into this Agreement and the other Loan Documents to partially satisfy the
Prepetition Credit Agreement as provided in the Plan of Reorganization and to consummate the Plan of Reorganization and, in connection therewith, the initial Lenders are hereby deemed to have made, in the aggregate, $[1,961,000,000] in principal
amount of Term B-1 Loans (as defined below) to the Borrower. 

  

 WHEREAS, the Revolving Facility Lenders, if any, may make available to the Borrower new Revolving
Facility Commitments to provide for working capital, Letters of Credit and general corporate purposes (including, without limitation, for Permitted Business Acquisitions, capital expenditures, Capitalized Software Expenditures, Restricted Payments
and project development). 
 WHEREAS, in connection with the confirmation and implementation of the Plan of Reorganization, Borrower shall
substantially contemporaneously issue (i) the First Priority Senior Secured Notes to certain holders of obligations under the First Lien Indentures (as defined in the Plan of Reorganization) and (ii) the Second Priority Senior Secured
Notes to certain holders of obligations under the First Lien Indentures and Prepetition Lenders. 
 NOW, THEREFORE, the Lenders and the L/C
Issuer are willing to extend such credit to the Borrower on the terms and subject to the conditions set forth herein. Accordingly, the parties hereto agree as follows: 

ARTICLE I 
 Definitions 

Section 1.01 Defined Terms. As used in this Agreement, the following terms shall have the meanings specified below: 

“ABR” shall mean, for any day, a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate in effect
for such day plus 1/2 of 1%, (b) the Prime Rate in effect on such day, and (c) the Adjusted Eurocurrency Rate for a one-month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus
1.00%; provided, that for the avoidance of doubt, the Eurocurrency Rate for any day shall be based on the rate determined on such day at approximately 11:00 a.m. (London time) by reference to the British Bankers’ Association Interest
Settlement Rates (or the successor thereto if the British Bankers’ Association is no longer making a Eurocurrency Rate available) for deposits in Dollars (as set forth by any service selected by the Administrative Agent that has been nominated
by the British Bankers’ Association (or the successor thereto if the British Bankers’ Association is no longer making a Eurocurrency Rate available) as an authorized vendor for the purpose of displaying such rates). Any change in such rate
due to a change in the Prime Rate, the Federal Funds Rate or the Adjusted Eurocurrency Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Rate or the Adjusted Eurocurrency Rate, as the
case may be. 
 “ABR Borrowing” shall mean a Borrowing comprised of ABR Loans. 

“ABR Loan” shall mean any ABR Term Loan, ABR Revolving Loan or Swingline Loan. 

“ABR Revolving Facility Borrowing” shall mean a Borrowing comprised of ABR Revolving Loans. 

“ABR Revolving Loan” shall mean any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in
accordance with the provisions of Article II. 

  
 2 

 “ABR Term Loan” shall mean any Term Loan bearing interest at a rate determined
by reference to the ABR in accordance with the provisions of Article II. 
 “Acceptable Discount” shall have the meaning
assigned to such term in Section 2.11(g)(iii). 
 “Acceptance Date” shall have the meaning assigned to such
term in Section 2.11(g)(ii). 
 “Accepting Lender” shall have the meaning assigned to such term in
Section 2.11(e). 
 “Act of Terrorism” shall mean an act of any Person directed towards the overthrowing or
influencing of any government de jure or de facto, or the inducement of fear in or the disruption of the economic system of any society, by force or by violence, including (i) the hijacking or destruction of any conveyance (including an
aircraft, vessel, or vehicle), transportation infrastructure or building, (ii) the seizing or detaining, and threatening to kill, injure, or continue to detain, or the assassination of, another individual, (iii) the use of any
(a) biological agent, chemical agent, or nuclear weapon or device or (b) explosive or firearm, with intent to endanger, directly or indirectly, the safety of one or more individuals or to cause substantial damage to property, and
(iv) a credible threat, attempt, or conspiracy to do any of the foregoing. 
 “Additional Mortgage” shall have the
meaning assigned to such term in Section 5.10(c)(i). 
 “Additional Ship Mortgage” shall have the meaning assigned
to such term in Section 5.10(c)(ii). 
 “Adjusted Eurocurrency Rate” shall mean, with respect to any Eurocurrency
Borrowing for any Interest Period, an interest rate per annum equal to the greater of (x) (a) the Eurocurrency Rate in effect for such Interest Period divided by (b) one minus the Statutory Reserves applicable to such
Eurocurrency Borrowing, if any, and (y) in the case of Eurocurrency Borrowings composed of Initial Term B Loans, 1.00%. 

“Adjusted Funds From Operations” for any period means EBITDA of the Borrower and its Subsidiaries minus
(i) Interest Expense (and all other amounts added back in clause (ii) of the defined term “EBITDA”) other than amortization of deferred financing costs and original issue discount, minus (ii) Consolidated Taxes,
minus (iii) all pro forma adjustments described in the last paragraph of the definition “EBITDA”, including all Pro Forma Operating Cost Savings and Synergies.

“Adjusted Total Assets” means, for any Person as of any determination date, the sum of: 

(1) Total Assets for such Person and its Subsidiaries on a consolidated basis as of the end of the last completed fiscal quarter preceding such
determination date for which financial statements have been delivered to Lenders pursuant to Section 5.04; and 
 (2) any increase or
decrease in Total Assets for such Person and its Subsidiaries on a consolidated basis following the end of such quarter determined on a Pro Forma Basis through such determination date, including any increase in Total Assets for such Person and its
Subsidiaries on a consolidated basis resulting from the application of the proceeds of any additional Indebtedness. 

  
 3 

 “Administrative Agent” means Wilmington Trust, National Association, in its
capacity as administrative agent under any of the Loan Documents, together with its permitted successors and assigns. 

“Administrative Agent Fees” shall have the meaning assigned to such term in Section 2.12(c). 

“Administrative Agent’s Office” means, with respect to any currency, the Administrative Agent’s address and, as
appropriate, account as set forth on Schedule 9.01 with respect to such currency, or such other address or account with respect to such currency as the Administrative Agent may from time to time notify to the Borrower and the Lenders. 

“Administrative Questionnaire” shall mean an Administrative Questionnaire in a form supplied by the Administrative Agent.

 “Affiliate” shall mean, when used with respect to a specified Person, another Person that directly, or indirectly
through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. In no event shall CEOC or any of its Affiliates be deemed to be an Affiliate of the Borrower or any of its Subsidiaries solely as
a result of any consolidation by CEOC of the Borrower and its Subsidiaries with CEOC for accounting purposes or any transaction that complies with Section 6.07. 

“Affiliate Lender” shall have the meaning assigned to such term in Section 9.24(a). 

“Affiliate Transaction” shall have the meaning assigned to such term in Section 6.07. 

“Agent Action” shall have the meaning assigned to such term in the definition of “Permitted Business Judgment.”

 “Agent Parties” shall have the meaning assigned to such term in Section 9.17. 

“Agents” shall mean the Administrative Agent, the Collateral Agent and the Security Trustee and, individually, each, an
“Agent”. 
 “Agreement” shall have the meaning assigned to such term in the introductory paragraph of this
Agreement. 
 “All-in Yield” shall mean, as to any Loans, the yield thereon payable to all Lenders providing such Loans as
reasonably determined by the Administrative Agent taking into account interest rate, margin, original issue discount, up-front fees (other than such fees excluded pursuant to the second proviso below), rate floors or otherwise; provided, that
original issue discount and up-front fees shall be equated to interest rate assuming a 4-year life to maturity (or, if less, the life of such Loans); provided, further, that “All-in Yield” shall not include\ arrangement,
commitment, underwriting, structuring or similar fees, customary consent fees or any fee for an amendment paid generally to consenting lenders. 

  
 4 

 “Allowed” shall have the meaning assigned to such term in the Plan of
Reorganization. 
 “Anti-Money Laundering Laws” shall mean any and all laws, judgments, orders, executive orders, decrees,
ordinances, rules, regulations, statutes, case law or treaties applicable to a Loan Party, its Subsidiaries or Affiliates, related to terrorism financing or money laundering including any applicable provision of the USA PATRIOT Act and The Currency
and Foreign Transactions Reporting Act (also known as the “Bank Secrecy Act,” 31 U.S.C. §§ 5311-5330 and 12 U.S.C. §§ 1818(s), 1820(b) and 1951-1959). 

“Applicable Commitment Fee” shall mean, for any day, with respect to any Incremental Revolving Facility Commitments, the
“Applicable Commitment Fee” set forth in the applicable Incremental Assumption Agreement. 
 “Applicable Date”
shall have the meaning assigned to such term in Section 9.08(f). 
 “Applicable Discount” shall have the
meaning assigned to such term in Section 2.11(g)(iii). 
 “Applicable Margin” shall mean for any day (i) with
respect to any Term B Loan, 3.50% per annum in the case of any Eurocurrency Loan and 2.50% per annum in the case of any ABR Loan and (ii) with respect to any Other Term Loan or Revolving Loan, the “Applicable Margin” set
forth in the Incremental Assumption Agreement relating thereto. 
 “Applicable Premium” shall mean the excess of
(A) the present value of all remaining required interest to and immediately prior to the first anniversary of the Closing Date (using the Adjusted Eurocurrency Rate that is determined for a three-month Interest Period commencing on the date of
such Applicable Premium prepayment and assuming such Adjusted Eurocurrency Rate remains the same for the entire period from the date of such Applicable Premium prepayment to the first anniversary of the Closing Date) and principal payments due on
the principal amount of such Term B Loans being repaid and subject to such Applicable Premium prepayment plus the prepayment premium provided in clause (i)(B) of Section 2.11(a) on such principal amount subject to such Applicable Premium
prepayment, in each case assuming a prepayment date of the first anniversary of the Closing Date, computed using a discount rate equal to the Treasury Rate plus 50 basis points over (B) the principal amount of such Term B Loans subject to such
Applicable Premium prepayment. For purposes of this definition, “Treasury Rate” means the rate per annum equal to the yield to maturity at the time of computation of the United States of America Treasury securities with a constant
maturity (as compiled and published in the most recent Federal Reserve statistical release designated “H.15(519)” that has become publicly available at least two (2) Business Days prior to the date on which notice of the applicable
prepayment has been delivered in accordance with this Agreement (or, if such Federal Reserve statistical release is no longer published, any successor release or any other publicly available source of similar market data)) most nearly equal to the
period from such date of Applicable Premium prepayment to and immediately prior to the first anniversary of the Closing Date; provided, however, that if the period from such date of Applicable Premium prepayment to the first
anniversary of the Closing Date is not equal to the constant maturity of a United States of America Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the

  
 5 

 
nearest one-twelfth of a year) from the weekly average yields of United States of America Treasury securities for which such yields are given, except that if the period from such date of
prepayment to the first anniversary of the Closing Date is less than one year, the weekly average yield on actually traded United States of America Treasury securities adjusted to a constant maturity of one year shall be used. 

“Approved Fund” shall have the meaning assigned to such term in Section 9.04(b). 

“Asset Sale” shall mean (i) any loss, damage, destruction or condemnation of, or any sale, transfer, conveyance, lease,
license or other disposition (including any sale and leaseback of assets and any mortgage or lease of Real Property) to any Person of any asset or assets of the Borrower or any Subsidiary or (ii) the issuance or sale of Equity Interests (other
than directors’ qualifying shares and shares issued to foreign nationals or other third parties to the extent required by applicable law) of any Subsidiary (other than to the Borrower or another Subsidiary) whether in a single transaction or
series of related transactions. 
 “Assignee” shall have the meaning assigned to such term in Section 9.04(b).

 “Assignment and Acceptance” shall mean an assignment and acceptance entered into by a Lender and an Assignee, and
accepted by the Administrative Agent and the Borrower (if required by Section 9.04), in the form of Exhibit A or such other form as shall be approved by the Administrative Agent and reasonably satisfactory to the Borrower. 

“Auto-Extension Letter of Credit” shall have the meaning assigned to such term in Section 2.05(b). 

“Auto-Reinstatement Letter of Credit” shall have the meaning assigned to such term in Section 2.05(b). 

“Availability Period” shall mean, with respect to any Class of Revolving Facility Commitments under any Revolving Facility,
the period from and including the Closing Date (or, if later, the effective date for such Class of Revolving Facility Commitments) to but excluding the earlier of the Revolving Facility Maturity Date with respect to such Class and, in the case of
each of the Revolving Facility Loans, Revolving Facility Borrowings, Swingline Loans, Swingline Borrowings and Letters of Credit under such Revolving Facility, the date of termination in full of the Revolving Facility Commitments of such Class. 

“Available Unused Commitment” shall mean, with respect to a Revolving Facility Lender under any Revolving Facility at any
time, an amount equal to the amount by which (a) the Revolving Facility Commitment under such Revolving Facility of such Revolving Facility Lender at such time exceeds (b) the Revolving Facility Credit Exposure under such Revolving
Facility of such Revolving Facility Lender at such time. 
 “Bail-In Action” shall mean the exercise of any Write-Down and
Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 

  
 6 

 “Bail-In Legislation” shall mean, with respect to any EEA Member Country
implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. 

“Bankruptcy Code” shall have the meaning assigned to such term in the recitals hereto. 

“Bankruptcy Court” shall have the meaning assigned to such term in the recitals hereto. 

“Below Threshold Asset Sale Proceeds” shall have the meaning assigned to such term in the definition of the term
“Cumulative Credit.” 
 “Board” shall mean the Board of Governors of the Federal Reserve System of the United
States of America. 
 “Board of Directors” shall mean, as to any Person, the board of directors or managers, as applicable,
of such Person or any Parent Entity of such Person (or, if such Person is a partnership, the board of directors or other governing body of the general partner or any Parent Entity of such general partner, of such Person) or any duly authorized
committee thereof. Unless otherwise indicated herein, all references to the Board of Directors shall mean the Board of Directors of the ultimate parent entity of the Borrower. 

“Borrower” shall have the meaning assigned to such term in the introductory paragraph of this Agreement. 

“Borrower Materials” shall have the meaning assigned to such term in Section 9.17. 

“Borrowing” shall mean a group of Loans of a single Type in a single currency under a single Facility and made on a single
date and, in the case of Eurocurrency Loans, as to which a single Interest Period is in effect. 
 “Borrowing Minimum”
shall mean $1,000,000 except, in the case of Swingline Loans, $500,000. 
 “Borrowing Multiple” shall mean $1,000,000
except, in the case of Swingline Loans, $100,000. 
 “Borrowing Request” shall mean a written request by the Borrower in
accordance with the terms of Section 2.03 and substantially in the form of Exhibit B. 
 “Budget” shall
have the meaning assigned to such term in Section 5.04(e). 
 “Business Day” shall mean any day other than a
Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to remain closed; provided, that when used in connection with a Eurocurrency Loan, the term “Business Day” shall also exclude
any day on which banks are not open for dealings in deposits in Dollars in the London interbank market (or such other interbank market, to the extent used to determine the Eurocurrency Rate in accordance with the definition thereof). 

  
 7 

 “Capitalized Lease Obligations” means, with respect to a Person, the obligations
of such Person to pay rent or other amounts under any lease of (or other similar arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as
capital leases on a balance sheet of such Person under GAAP and, for purposes hereof, the amount of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP; provided that any
obligations that would not be accounted for as Capitalized Lease Obligations under GAAP as of the Closing Date shall not be included in Capitalized Lease Obligations after the Closing Date due to any changes in GAAP or interpretations thereunder or
otherwise. 
 “Capitalized Software Expenditures” shall mean, for any period, the aggregate of all expenditures (whether
paid in cash or accrued as liabilities) by a Person and its Subsidiaries during such period in respect of licensed or purchased software or internally developed software and software enhancements that, in accordance with GAAP, are or are required to
be reflected as capitalized costs on the combined or consolidated balance sheet of such Person and its Subsidiaries. 
 “Cash
Collateralize” shall have the meaning assigned to such term in Section 2.05(g). 
 “Cash Management
Agreement” shall mean any agreement to provide to the Borrower or any Subsidiary cash management services for collections, treasury management services (including controlled disbursement, overdraft, automated clearing house fund transfer
services, return items and interstate depository network services), any demand deposit, payroll, trust or operating account relationships, commercial credit cards, merchant card, purchase or debit cards, non-card e-payables services, and other cash
management services, including electronic funds transfer services, lockbox services, stop payment services and wire transfer services. 

“Cash Management Bank” shall mean any Person that, at the time it enters into a Cash Management Agreement (or on the Closing
Date), is an Agent, a Lender or an Affiliate of any such Person, in each case, in its capacity as a party to such Cash Management Agreement. 

“CEC” means Caesars Entertainment Corporation, a Delaware corporation, together with its successors and assigns. 

“CES” means Caesars Enterprise Services, LLC, a Delaware limited liability company. 

“CFC” shall mean a “controlled foreign corporation” within the meaning of Section 957(a) of the Code. 

“Change of Control” means the occurrence of any of the following: 

(a) the sale, exchange or other transfer, in one or a series of related transactions, of all or substantially all the assets of the Borrower
and its Subsidiaries, taken as a whole, to one or more Persons; provided that, for the avoidance of doubt, the lease of all or substantially all of the assets of Borrower and its Subsidiaries, taken as a whole, shall not constitute a Change of
Control; 

  
 8 

 (b) the acquisition by any Person or group (within the meaning of Section 13(d)(3) or
Section 14(d)(2) of the Exchange Act, or any successor provision), including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), in a single
transaction or in a related series of transactions, by way of merger, consolidation, amalgamation or other business combination or purchase of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor
provision), of more than 50% of the total voting power of the Voting Stock of any Parent Entity of the Borrower; or 
 (c) a “Change of
Control” occurs under and as defined in the First Priority Senior Secured Notes Indenture or the Second Priority Senior Secured Notes Indenture, solely to the extent the outstanding principal amount of First Priority Senior Secured Notes or
Second Priority Senior Secured Notes, as applicable, exceeds $60,000,000. 
 Notwithstanding the foregoing: (A) any holding company,
all or substantially all of the assets of which are comprised of the Borrower or any Parent Entity of the Borrower, shall not itself be considered a “person” or “group” for these purposes; (B) the transfer of assets between
or among the Borrower’s Subsidiaries and the Borrower shall not itself constitute a Change of Control; (C) the term “Change of Control” shall not include a merger or consolidation of the Borrower with or the sale, assignment,
conveyance, transfer or other disposition of all or substantially all of the Borrower’s assets to, an Affiliate incorporated or organized solely for the purpose of reincorporating or reorganizing the Borrower in another jurisdiction and/or for
the sole purpose of forming or collapsing a holding company structure; (D) a “person” or “group” shall not be deemed to have beneficial ownership of securities subject to a stock or asset purchase agreement, merger agreement
or similar agreement (or voting or option or similar agreement related thereto) until the consummation of the transactions contemplated by such agreement; and (E) the Transactions and any transactions related thereto shall not constitute a
Change of Control. 
 “Change in Law” shall mean (a) the adoption of any law, rule or regulation after the Closing
Date, (b) any change in law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the Closing Date, or (c) the making or issuance of any written request, guideline or directive (whether or
not having the force of law) of any Governmental Authority made or issued after the Closing Date; provided, however, that notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer
Protection Act and all requests, rules, guidelines, requirements and directives thereunder, issued in connection therewith or in implementation thereof and (ii) all requests, rules, guidelines, requirement and directives promulgated by the Bank
of International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States of foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a
“Change in Law”, regardless of the date enacted, adopted, issued or implemented, but only to the extent a Lender is imposing applicable increased costs or costs in connection with capital adequacy requirements similar to those described in
clauses (a) and (b) of Section 2.15 generally on other similarly situated borrowers of loans under United States of America credit facilities. 

“Charges” shall have the meaning assigned to such term in Section 9.09. 

  
 9 

 “Class” shall mean, (a) when used in reference to any Loan or Borrowing,
shall refer to whether such Loan, or the Loans comprising such Borrowing, are Term B Loans, Other Term Loans or Revolving Loans and (b) when used in reference to any Commitment, refers to whether such Commitment is in respect of a commitment to
make Term B Loans, Other Term Loans or Revolving Loans. Other Term Loans or Revolving Loans that have different terms and conditions (together with the Commitments in respect thereof) from the Term B Loans or from other Other Term Loans or other
Revolving Loans, as applicable, shall be construed to be in separate and distinct Classes. 
 “Class Loans” shall have the
meaning assigned to such term in Section 9.08(f). 
 “Closing Date” shall mean
[                    ], 2017. 

“Code” shall mean the Internal Revenue Code of 1986, as amended. 

“Collateral” shall mean all the “Collateral” (or equivalent term) as defined in any Security Document and shall
also include the Mortgaged Properties, Mortgaged Vessels and all other property that is subject to any Lien in favor of the Collateral Agent or the Security Trustee (as applicable) for the benefit of the Secured Parties pursuant to any Security
Documents, but shall in each case exclude all Excluded Property. 
 “Collateral Agent” shall mean the Administrative Agent
acting as collateral agent for the Secured Parties. 
 “Collateral Agreement” shall mean the Collateral Agreement (First
Lien) substantially in the form of Exhibit M, dated as of the Closing Date, among the Borrower, each Subsidiary Loan Party and the Collateral Agent, as amended, modified, waived or supplemented from time to time. 

“Collateral Requirement” shall mean the requirement that (in each case subject to Sections 5.10(d),
(e) and (g), Section 5.11 and Schedule 5.10 (and excluding Excluded Property) and except as otherwise contemplated by this Agreement or any Security Document): 

(a) on the Closing Date, the Collateral Agent shall have received (x) from the Borrower and each Subsidiary Loan Party, a counterpart of
the Collateral Agreement, and (y) from each Subsidiary Loan Party, a counterpart of the Subsidiary Guarantee Agreement; 
 (b) on the
Closing Date, (i) the Collateral Agent shall have received (A) a pledge of all the issued and outstanding Equity Interests owned on the Closing Date directly by the Loan Parties, other than Excluded Securities and (ii) the Collateral
Agent shall have received all certificates or other instruments (if any) representing such Equity Interests, together with stock powers or other instruments of transfer with respect thereto endorsed in blank; 

(c) (i) on the Closing Date and at all times thereafter, all Indebtedness of the Borrower and each Subsidiary having, in the case of each
instance of Indebtedness, an aggregate principal amount in excess of $10,000,000 (other than (A) intercompany current liabilities in connection with the cash management operations of the Borrower and the Subsidiaries or (B) to the extent
that a pledge of such promissory note or instrument would violate applicable law) that 

  
 10 

 
is owing to a Loan Party, other than Excluded Securities, and is evidenced by a promissory note or an instrument shall have been pledged pursuant to the Collateral Agreement (or other applicable
Security Document as reasonably required by the Collateral Agent); provided that there shall not be more than $30,000,000 of Indebtedness, other than Excluded Securities, in the aggregate that is not evidenced by a promissory note or similar
instrument and not pledged pursuant to the Collateral Agreement and (ii) the Collateral Agent shall have received all such promissory notes or instruments required to be delivered pursuant to the applicable Security Documents, together with
note powers or other instruments of transfer with respect thereto endorsed in blank; 
 (d) in the case of any Person that becomes a
Subsidiary Loan Party after the Closing Date, the Collateral Agent shall have received (i) a supplement to the Collateral Agreement and the Subsidiary Guarantee Agreement and (ii) supplements to the other Security Documents, if applicable,
in the form specified therein, duly executed and delivered on behalf of such Subsidiary Loan Party; 
 (e) after the Closing Date,
(i) all the outstanding Equity Interests of (A) any Person that becomes a Subsidiary Loan Party after the Closing Date and (B) all the Equity Interests that are directly acquired by a Loan Party after the Closing Date, other than
Excluded Securities, shall have been pledged pursuant to the Collateral Agreement and (ii) the Collateral Agent shall have received all certificates or other instruments (if any) representing such Equity Interests, together with stock powers or
other instruments of transfer with respect thereto endorsed in blank; 
 (f) on the Closing Date and at all times thereafter, all documents
and instruments, including Uniform Commercial Code financing statements, required by law or reasonably requested by the Collateral Agent to be filed, registered or recorded to create the Liens intended to be created by the Security Documents (in
each case, including any supplements thereto) and perfect such Liens to the extent required by, and with the priority required by, the Security Documents, shall have been filed, registered or recorded or delivered to the Collateral Agent for filing,
registration or the recording concurrently with, or promptly following, the execution and delivery of each such Security Document; 
 (g)
within (x) 90 days after the Closing Date (in the case of clause (ii)) and 60 days after the Closing Date (in the case of clause (i)) with respect to the Mortgaged Properties set forth on Schedule 1.01(A) (or such later date as the
Collateral Agent may agree in its reasonable discretion) and (y) within the time periods set forth herein, and solely to the extent required hereby, with respect to the Mortgaged Properties encumbered pursuant to this Agreement, the Collateral
Agent shall have received (i) counterparts of each Mortgage to be entered into with respect to each such Mortgaged Property duly executed and delivered by the record owner of such Mortgaged Property and suitable for recording or filing,
together with the payment of any taxes or fees required in connection with the recording or filing of each such Mortgage and (ii) such other documents including, but not limited to, any consents, agreements and confirmations of third parties,
as the Collateral Agent may reasonably request with respect to any such Mortgage or Mortgaged Property; 

  
 11 

 (h) within (x) 90 days after the Closing Date (in the case of clauses (ii) through
(vii)) and 60 days after the Closing Date (in the case of clause (i) and, solely with respect to flood insurance policies, clause (ii)) with respect to the Mortgaged Properties set forth on Schedule 1.01(A) (or such later date as the
Collateral Agent may agree in its reasonable discretion) and (y) within the time periods set forth herein, and solely to the extent required hereby, with respect to Mortgaged Properties encumbered pursuant to this Agreement, the Collateral
Agent shall have received (i) a completed “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each Mortgaged Property on which a “Building” (as defined in 12 CFR Chapter
III, Section 339.2) is located (together with a notice about special flood hazard area status and flood disaster assistance duly executed by the Borrower and each Loan Party relating thereto), (ii) a copy of, or a certificate as to
coverage under, and a declaration page relating to, the insurance policies required by Section 5.02 (including, without limitation, flood insurance policies), each of which shall (A) be endorsed or otherwise amended to include a
“standard” lender’s loss payable or mortgagee endorsement (as applicable), (B) name the Collateral Agent, on behalf of the Secured Parties, as additional insured, (C) in the case of flood insurance, (1) identify the
addresses of each property located in a special flood hazard area, (2) indicate the applicable flood zone designation, the flood insurance coverage and the deductible relating thereto, and (3) if available, provide that the insurer will
give the Collateral Agent forty-five (45) days’ written notice of cancellation (or such shorter period reasonably acceptable to the Administrative Agent), (iii) customary opinions addressed to the Administrative Agent and the
Collateral Agent for its benefit and for the benefit of the Secured Parties of (A) local counsel for the Loan Parties in each jurisdiction where the Mortgaged Property is located with respect to the enforceability of the Mortgages and other
matters customarily included in such opinions and (B) counsel for the Loan Parties regarding due authorization, execution and delivery of the Mortgages, (iv) a policy or policies or marked-up unconditional binder of title insurance, as
applicable, paid for by the Borrower or the Subsidiaries, issued by a nationally recognized title insurance company insuring the Lien of each Mortgage to be entered into on the Closing Date or thereafter in accordance with this Agreement as a valid
Lien on the Mortgaged Property described therein, free of any other Liens except Permitted Liens, together with such customary endorsements (including zoning endorsements where reasonably appropriate and available or, in lieu of such zoning
endorsements, where available at commercially reasonable rates in the jurisdiction where the applicable Mortgaged Property is located, a zoning report from a recognized vendor or a zoning compliance letter from the applicable municipality in a form
reasonably acceptable to the Collateral Agent), coinsurance and reinsurance as the Collateral Agent may reasonably request and which are available at commercially reasonable rates in the jurisdiction where the applicable Mortgaged Property is
located, (v) if the finalization of the title insurance policies pursuant to clause (iv) hereof and the Surveys (as hereinafter defined) pursuant to clause (v) hereof occurs after delivery of any Mortgage pursuant to clause (g), then,
to the extent required to correct and/or confirm the Mortgaged Property encumbered by such Mortgage is consistent with that so insured and surveyed and/or confirm the Collateral Agent’s mortgage Lien on and security interests in such Mortgaged
Property, (A) an amendment to any such applicable Mortgage (or to the extent required, a new Mortgage) duly authorized, executed and acknowledged, in recordable form and otherwise in form and substance reasonably acceptable to the
Administrative Agent with respect to each such applicable Mortgaged Property and (B) such other documents, including, but not limited to, any supplemental consents, agreements and/or confirmations of third parties, and

  
 12 

 
supplemental local counsel opinions, as Collateral Agent may reasonably request in order to effectuate the same, and (vi) a survey of each Mortgaged Property (including all improvements,
easements and other customary matters thereon reasonably required by the Collateral Agent), as applicable, for which all necessary fees (where applicable) have been paid (such surveys, collectively, the “Surveys”). Such Surveys
shall be certified in writing to Borrower, Collateral Agent and the title insurance company, and shall meet minimum standard detail requirements for ALTA/ACSM Land Title Surveys in all material respects and shall be sufficient and satisfactory to
the title insurance company so as to enable the title insurance company to issue coverage over all general survey exceptions. All such Surveys shall be dated (or redated) not earlier than six months prior to the date of delivery thereof (unless
otherwise reasonably acceptable to the title insurance company issuing the title insurance); 
 (i) within (x) 120 days after the
Closing Date (or such later date as the Collateral Agent may agree in its reasonable discretion) and (y) 60 days after the Closing Date (solely to the extent required hereunder), the Collateral Agent shall have received, with respect to each
Mortgaged Vessel set forth on Schedule 1.01(A) and each Replacement Vessel or Documented Vessel acquired after the Closing Date required to be subject to an Additional Ship Mortgage, within the time periods set forth herein, the Collateral
Agent and the Security Trustee (as applicable), shall have received (i) a Ship Mortgage granting to the Security Trustee for the benefit of the Secured Parties a valid, binding and enforceable (subject to (a) the effects of bankruptcy,
insolvency, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally and (b) general principles of equity (regardless of whether such enforceability is considered in a proceeding in
equity or at law)) first preferred mortgage on such Mortgaged Vessel under the Ship Mortgage Act subject only to Permitted Liens and (ii) an Earnings Assignment and Insurance Assignment with respect to such Mortgaged Vessel each in favor of the
Security Trustee, executed and deliver, in each case, by a duly authorized officer of the appropriate Loan Party, together with such certificates, notices and affidavits ancillary to such Ship Mortgage, Earnings Assignment and Insurance Assignment;

 (j) on the Closing Date, the Collateral Agent shall have received ACORD certificates of insurance evidencing the insurance required by
the terms of this Agreement; and 
 (k) after the Closing Date, the Collateral Agent shall have received (i) such other Security
Documents as may be required to be delivered pursuant to Sections 5.10 and 5.11 and (ii) upon reasonable request by the Collateral Agent, evidence of compliance with any other requirements of Sections 5.10 and 5.11.

 “Commitment Fee” shall have the meaning assigned to such term in Section 2.12(a). 

“Commitments” shall mean (a) with respect to any Lender, such Lender’s Revolving Facility Commitment and Term
Facility Commitment and (b) with respect to any Swingline Lender, its Swingline Commitment. 
 “Commodity Exchange
Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended, modified, or supplemented from time to time, and any successor statute. 

  
 13 

 “Common Units” shall have the meaning assigned to such term in the Limited
Liability Company Agreement. 
 “Communications” shall mean, collectively, any notice, demand, communication, information,
document or other material (including any Borrower Materials) provided pursuant to this Agreement, any other Loan Document or the transactions contemplated hereby or therein. 

“Conduit Lender” shall mean any special purpose corporation organized and administered by any Lender for the purpose of
making Loans otherwise required to be made by such Lender and designated by such Lender in a written instrument; provided, that the designation by any Lender of a Conduit Lender shall not relieve the designating Lender of any of its
obligations to fund a Loan under this Agreement if, for any reason, its Conduit Lender fails to fund any such Loan, and the designating Lender (and not the Conduit Lender) shall have the sole right and responsibility to deliver all consents and
waivers required or requested under this Agreement with respect to its Conduit Lender; provided, further, that no Conduit Lender shall (a) be entitled to receive any greater amount pursuant to Section 2.15,
2.16, 2.17 or 9.05 than the designating Lender would have been entitled to receive in respect of the extensions of credit made by such Conduit Lender, unless the designation of such Conduit Lender is made with the
Borrower’s prior written consent (not to be unreasonably withheld or delayed), which consent shall specify that it is being made pursuant to the proviso in the definition of Conduit Lender and provided that designating Lender provides
such information as the Borrower reasonably request in order for the Borrower to determine whether to provide their consent or (b) be deemed to have any Commitment; provided, further, that each Conduit Lender shall comply with
Section 9.16 and the Lender organizing and administering such Conduit Lender shall be responsible for such compliance. 

“Confirmation Order” shall have the meaning given to such term in Section 4.02. 

“Consolidated Debt” at any date shall mean the sum of (without duplication) all Indebtedness (other than letters of credit or
bank guarantees, to the extent undrawn) consisting of Capitalized Lease Obligations, Indebtedness for borrowed money and Disqualified Stock of the Borrower and the Subsidiaries determined on a combined or consolidated basis on such date in
accordance with GAAP. 
 “Consolidated Depreciation and Amortization Expense” means, with respect to any Person for any
period, the total amount of depreciation and amortization expense, including the amortization of intangible assets, deferred financing fees, debt issuance costs, commissions, fees and expenses and expensing of any bridge, commitment fees, any
expense resulting from the discounting of any outstanding Indebtedness in connection with the application of purchase accounting and non-cash costs associated with Swap Agreements, or any other financing fees, and Capitalized Software Expenditures
and amortization of unrecognized prior service costs and actuarial gains and losses related to pensions and other post-employment benefits, but excluding amortization of original issue discount, of such Person for such period on a combined,
consolidated basis and otherwise determined in accordance with GAAP. 

  
 14 

 “Consolidated Net Income” shall mean, with respect to the Borrower and its
Subsidiaries for any period, the aggregate of the Net Income of the Borrower and its subsidiaries for the last four fiscal quarters ending with the most recently ended fiscal quarter for which financial statements have been delivered to the Lenders
pursuant to Section 5.04(a) or 5.04(b), on a combined or consolidated basis (before giving effect to any charges resulting from the redemption of Preferred Units of the Borrower or any direct or indirect parent of the Borrower,
and without giving effect to deductions for non-controlling or minority interests in the Borrower); provided, however, that, without duplication: 

(i) (A) the Net Income for such period of any Person that is not a subsidiary of such Person, or is an Unrestricted Subsidiary
or that is accounted for by the equity method of accounting, shall be included only to the extent of the amount of dividends or distributions or other payments paid in cash (or to the extent converted into cash) to the referent Person or a
subsidiary thereof (other than an Unrestricted Subsidiary of such referent Person) in respect of such period and (B) the Net Income for such period shall include any ordinary course dividend, distribution or other payment in cash received from
any such Person in excess of the amounts included in clause (A), 
 (ii) solely for the purpose of determining the amount
available for Restricted Payments under clause (B) of the definition of “Cumulative Credit,” the Net Income for such period of any Subsidiary (other than any Subsidiary Guarantor) shall be excluded to the extent that the declaration
or payment of dividends or similar distributions by such Subsidiary of its Net Income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, by the operation of the terms of its
charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Subsidiary or its stockholders, unless such restrictions have been legally waived or is imposed pursuant to this Agreement and
other Loan Documents provided that the Consolidated Net Income of such Person shall be increased by the amount of dividends or other distributions or other payments actually paid in cash (or converted into cash) by any Issuer or such
Subsidiary to such Person, to the extent not already included therein, and 
 (iii) without duplication, an amount equal to
the amount of distributions actually made to any parent or equity holder of such Person in respect of such period in accordance with Section 6.06(n) shall be included as though such amounts had been paid as income taxes directly by such
Person for such period. 
 Notwithstanding the foregoing, for the purpose of Section 6.06 only, there shall be excluded from Consolidated Net
Income to the extent increasing Consolidated Net Income any dividends, repayments of loans or advances or other transfers of assets from Unrestricted Subsidiaries to the extent such dividends, repayments or transfers increase the amount of
Restricted Payments permitted under such Section 6.06 pursuant to clause (g) of the definition of “Cumulative Credit.” 

“Consolidated Non-cash Charges” means, with respect to any Person for any period, the non-cash expenses (other than
Consolidated Depreciation and Amortization Expense) of such Person reducing Consolidated Net Income of such Person for such period on a combined, consolidated basis and otherwise determined in accordance with GAAP, including any impairment charges
or asset write-offs, non-cash gains, losses, income and expenses resulting 

  
 15 

 
from fair value accounting required by the applicable standard under GAAP and related interpretations, and non-cash charges for deferred tax asset valuation allowances, provided that if any such
non-cash expenses represent an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof in such future period shall be subtracted from EBITDA in such future period to the extent paid, but excluding from
this proviso, for the avoidance of doubt, amortization of a prepaid cash item that was paid and included in the calculation of Consolidated Net Income in a prior period. 

“Consolidated Taxes” means, with respect to the Borrower and its Subsidiaries for any period, the provision for taxes based
on income, profits or capital, including, without limitation, federal, state, franchise, property, excise and similar taxes, foreign withholding taxes (including penalties and interest related to such taxes or arising from tax examinations), in each
case determined in accordance with GAAP, and any Tax Distributions taken into account in calculating Consolidated Net Income. 

“Control” shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of a Person, whether through the ownership of voting securities or by contract, and “Controlling” and “Controlled” shall have meanings correlative thereto. 

“CPLV Entity” means any of CPLV Mezz 1 LLC, CPLV Mezz 2 LLC and CPLV Mezz 3 LLC, each a Delaware limited liability company,
CPLV Holdings, any of its subsidiaries, and any other Parent Entity of CPLV Holdings that is a subsidiary of the Borrower that is formed after the Closing Date for tax or financing activities or other necessary or desirable business purpose as
determined by the Board of Directors related to such entities and their assets. 
 “CPLV Holdings” shall mean CPLV Property
Owner LLC, a Delaware limited liability company. 
 “Credit Event” shall have the meaning assigned to such term in
Article IV. 
 “Cumulative Credit” shall mean, at any date, an amount, not less than zero in the aggregate with the
amounts set forth in clauses (a) and (c) through (l) not to be reduced by the amount set forth in clause (b), determined on a cumulative basis equal to, without duplication (and without duplication of amounts that otherwise increased
the amount available for Investments pursuant to Section 6.04): 
 (a) $30,000,000, plus: 

(b) to the extent such amount is a positive number, 95% of the aggregate amount of the Adjusted Funds From Operations accrued on a cumulative
basis during the period (taken as one accounting period) beginning on [●] and ending on the last day of the fiscal quarter most recently ended for which financial statements have been delivered to Lenders pursuant to Section 5.04,
minus the amount of any Restricted Payments made pursuant to Section 6.06(h), plus 
 (c) the aggregate amount of
Below Threshold Asset Sale Proceeds received after the Closing Date, plus 

  
 16 

 (d) the cumulative amount of proceeds (including cash and the Fair Market Value (as determined in
good faith by the Borrower) of property other than cash) from the sale of Equity Interests of the Borrower or any Parent Entity after the Closing Date and on or prior to such time (including upon exercise of warrants or options) which proceeds have
been contributed as common equity to the capital of the Borrower; provided, that this clause (d) shall exclude Excluded Contributions, Permitted Cure Securities and the proceeds thereof, sales of Equity Interests financed as contemplated
by Section 6.04(e) or used as described in clause (viii) of the definition of EBITDA and any amounts used to finance the payments or distributions in respect of any Junior Financing pursuant to Section 6.09(b)(i)(C),
plus 
 (e) 100% of the aggregate amount of contributions to the capital of the Borrower received in cash (and the Fair Market Value
(as determined in good faith by the Borrower) of property other than cash) after the Closing Date (subject to the same exclusions as are applicable to clause (d) above), plus 

(f) 100% of the principal amount of any Indebtedness or the liquidation preference or maximum fixed repurchase price, as the case may
be, of any Disqualified Stock of the Borrower or any Subsidiary issued after the Closing Date (other than Indebtedness or Disqualified Stock issued to Borrower or another Subsidiary which has been converted into or exchanged for Equity Interests in
the Borrower (other than Disqualified Stock) or any Parent Entity of the Borrower (provided in the case of any such Parent Entity, such Indebtedness or Disqualified Stock is retired or extinguished), plus 

(g) 100% of the aggregate amount received by the Borrower or any Subsidiary in cash (and the Fair Market Value (as determined in good faith by
the Borrower) of property other than cash received by the Borrower or any Subsidiary) after the Closing Date from: 
 (i) the
sale or other disposition (other than to the Borrower or a Subsidiary) of Investments made pursuant to Section 6.04(j), (r), (ff), or (gg) by the Borrower or any Subsidiaries and from repurchases and redemptions of
such Investments from the Borrower and the Subsidiaries by any Person (other than the Borrower or a Subsidiary) and from repayments of loans or advances or other transfers of assets (including by way of dividends, interest, distributions, returns of
principal, repayments, income and similar amounts), and releases of guarantees, which constituted Investments made pursuant to Section 6.04(j), (r), (ff), or (gg) (to the extent such amount is not otherwise used
pursuant to an exception in Section 6.04), 
 (ii) the sale (other than to the Borrower or any Subsidiary) of the
Equity Interests of an Unrestricted Subsidiary, or 
 (iii) any dividend or other distribution by an Unrestricted Subsidiary,
plus 
 (h) in the event any Unrestricted Subsidiary has been redesignated as a Subsidiary or has been merged, consolidated or
amalgamated with or into, or transfers or conveys its assets to, or is liquidated into, the Borrower or any Subsidiary, the Fair Market Value (as determined in good faith by the Borrower) of the Investments of the Borrower or any Subsidiary in such
Unrestricted Subsidiary at the time of such redesignation, combination or transfer (or of the assets transferred or conveyed, as applicable), plus 

  
 17 

 (i) the cumulative amount of Declined Proceeds, plus 

(j) an amount equal to any returns (including dividends, interest, distributions, returns of principal, profits on sale, repayments, income
and similar amounts) actually received by the Borrower or any Subsidiary in respect of any Investments made pursuant to Section 6.04(j) after the Closing Date prior to such time, minus 

(k) any amounts thereof used to make Investments pursuant to Section 6.04(j) after the Closing Date prior to such time,
minus 
 (l) any amounts thereof used to make Restricted Payments pursuant to Section 6.06(e) after the Closing Date prior to
such time, provided, however, for purposes of Section 6.06(e), the calculation of the Cumulative Credit shall not include any Below Threshold Asset Sale Proceeds. 

“Cure Amount” shall have the meaning assigned to such term in Section 7.02. 

“Cure Right” shall have the meaning assigned to such term in Section 7.02. 

“Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy,
assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States or other applicable jurisdictions from time to time in effect and affecting the rights
of creditors generally. 
 “Debtors” shall have the meaning assigned to such term in the Plan of Reorganization. 

“Declined Proceeds” shall have the meaning assigned to such term in Section 2.11(e). 

“Default” shall mean any event or condition which, but for the giving of notice, lapse of time or both would (in the absence
of a cure or waiver hereunder) constitute an Event of Default. 
 “Defaulting Lender” shall mean, subject to
Section 2.22, any Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder or (ii) pay to the Administrative Agent, any L/C
Issuer, the Swingline Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit or Swingline Loans) within two Business Days of the date when due, (b) has
notified the Borrower, the Swingline Lender, Administrative Agent or any L/C Issuer in writing that it does not intend to comply with its funding obligations, or has made a public statement to that effect with respect to its funding obligations
hereunder, (c) has failed, within three Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding
obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or (d) has, or has a direct

  
 18 

 
or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) become the subject of a Bail-in Action, or (iii) had appointed for it
a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any
other state or federal regulatory authority acting in such a capacity; provided, that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect
parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States of America or from the enforcement of judgments or
writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a
Defaulting Lender under any one or more of clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.22) upon delivery
of written notice of such determination to the Borrower, each L/C Issuer, the Swingline Lender and each Lender. 
 “Designated
Non-Cash Consideration” shall mean the Fair Market Value of non-cash consideration received by the Borrower or any Subsidiary in connection with an Asset Sale that is so designated as Designated Non-Cash Consideration pursuant to a
certificate of a Responsible Officer of the Borrower delivered to the Agent, setting forth the basis of such valuation, less the amount of Permitted Investments received in connection with a subsequent sale of such Designated Non-Cash Consideration.

 “Disclosure Statement” means the disclosure statement to the Plan of Reorganization, as amended modified, waived or
supplemented from time to time, filed in the jointly administered proceedings commenced by Caesars Entertainment Operating Company and certain affiliated debtors, titled In re Caesars Entertainment Operating Company, Inc., et. al., Case
No. 15-01145 (Bankr. N.D. Ill.) under Title 11 of the United States Code, 11 U.S.C. §§ 101-1532 in the United States Bankruptcy Court for the Northern District of Illinois. 

“Discount Range” shall have the meaning assigned to such term in Section 2.11(g)(ii). 

“Discounted Prepayment Option Notice” shall have the meaning assigned to such term in Section 2.11(g)(ii). 

“Discounted Voluntary Prepayment” shall have the meaning assigned to such term in Section 2.11(g)(i). 

“Discounted Voluntary Prepayment Notice” shall have the meaning assigned to such term in Section 2.11(g)(v). 

“Disinterested Director” shall mean, with respect to any Person and transaction, a member of the Board of Directors of such
Person who does not have any material direct or indirect financial interest in or with respect to such transaction. 

“Disqualification” means, with respect to any Lender: 

  
 19 

 (a) the failure of that Person timely to file pursuant to applicable Gaming Laws: 

(i) any application requested of that Person by any Gaming Authority in connection with any licensing required of that Person as a lender to
the Borrower; or 
 (ii) any required application or other papers in connection with determination of the suitability of that Person as a
lender to the Borrower; 
 (b) the withdrawal by that Person (except where requested or permitted by the Gaming Authority) of any such
application or other required papers; 
 (c) any finding by a Gaming Authority that there is reasonable cause to believe that such Person
may be found unqualified or unsuitable; or 
 (d) any final determination by a Gaming Authority pursuant to applicable Gaming Laws: 

(i) that such Person is “unsuitable” as a lender to the Borrower; 

(ii) that such Person shall be “disqualified” as a lender to the Borrower; or 

(iii) denying the issuance to that Person of any license or other approval required under applicable Gaming Laws to be held by all lenders to
the Borrower. 
 “Disqualified Institution” means (i) those banks, financial institutions or other Persons separately
identified in writing by the Borrower or any of its Affiliates to the Administrative Agent on or prior to the Closing Date, and any Affiliates of such banks, financial institutions or other Persons that are readily identifiable as Affiliates by
virtue of their names, and (ii) bona fide competitors (or Affiliates thereof that are readily identifiable as Affiliates by virtue of their names or that are identified to the Administrative Agent in writing by the Borrower) of the Borrower or
any of its Subsidiaries that are identified to the Administrative from time to time by the Borrower; provided, that, to the extent that any Person is identified by the Borrower to the Administrative Agent as a Disqualified Institution in accordance
with the foregoing, the Administrative Agent shall notify the Lenders thereof by posting a Communication on the Platform. 

“Disqualified Stock” shall mean, with respect to any Person, any Equity Interests of such Person that, by its terms (or by
the terms of any security or other Equity Interests into which it is convertible or for which it is redeemable or exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable (other than solely for
Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control or asset sale or similar event so long as any rights of the holders thereof upon the occurrence of a change of control or
asset sale event shall be subject to the prior repayment of the Loans and all other Loan Obligations that are accrued and payable in full in cash and the termination of the Commitments), (b) is redeemable at the option of the holder thereof
(other than solely for Qualified Equity Interests), in whole or in part, (c) provides for the scheduled payments of dividends in cash, or (d) at the option of the holders thereof, is or becomes convertible into or exchangeable for
Indebtedness or any other Equity Interests that would 

  
 20 

 
constitute Disqualified Stock, in each case, prior to the date that is ninety-one (91) days after the earlier of (x) the latest Term Facility Maturity Date in effect on the date of
issuance and (y) the date on which the Loans and all other Loan Obligations that are accrued and payable are repaid in full and the Commitments are terminated; provided, however, that only the portion of the Equity Interests that
so mature or are mandatorily redeemable, are so convertible or exchangeable or are so redeemable at the option of the holder thereof prior to such date shall be deemed to be Disqualified Stock; provided further, however, that if
such Equity Interests are issued to any employee or to any plan for the benefit of employees of the Borrower or the Subsidiaries or by any such plan to such employees, such Equity Interests shall not constitute Disqualified Stock solely because they
may be required to be repurchased by the Borrower in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s termination, death or disability; provided further, however, that any class of
Equity Interests of such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of Equity Interests that are not Disqualified Stock shall not be deemed to be Disqualified Stock. For the avoidance of doubt,
Common Units of the Borrower as of the Closing Date shall not be deemed Disqualified Stock. 
 “Documented Vessel” shall
mean any Vessel which has a current and valid certificate of documentation issued by the NVDC. 
 “Dollar Equivalent”
means, at any time, (a) with respect to any amount denominated in Dollars, such amount and (b) with respect to any amount denominated in any currency other than Dollars, the equivalent amount thereof in Dollars as determined by the
Administrative Agent or the L/C Issuer, as applicable, at such time on the basis of the Spot Rate (determined in respect of the applicable date of determination) for the purchase of Dollars with such currency. 

“Dollars” or “$” shall mean lawful money of the United States of America. 

“Domestic Subsidiary” shall mean any Subsidiary that is not a Foreign Subsidiary. 

“Earnings Assignment” shall mean, with respect to each Mortgaged Vessel, an Assignment of Earnings, Charterparties and
Requisition Compensation substantially in the form of Exhibit N (with such changes to account for local law matters as determined by the Borrower in good faith) made by the applicable Loan Party in favor of the Security Trustee for the
benefit of the Secured Parties. 
 “EBITDA” shall mean, with respect to the Borrower and its Subsidiaries on a combined or
consolidated basis for the last four fiscal quarters ending with the most recently ended fiscal quarter for which financial statements have been delivered to the Lenders pursuant to Section 5.04(a) or 5.04(b), the Consolidated Net
Income of the Borrower and the Subsidiaries for such period; provided, however, that without duplication and in each case to the extent included in Consolidated Net Income for the respective period for which EBITDA is being determined: 

(i) Consolidated Taxes shall be excluded; 

(ii) Interest Expense (and to the extent not included in Interest Expense, (x) all cash dividend payments (excluding items eliminated in
consolidation) on any series of preferred stock or Disqualified Stock and (y) costs of surety bonds in connection with financing activities) of the Borrower and its Subsidiaries for such period (net of interest income) of the Borrower and its
Subsidiaries for such period) shall be excluded; 

  
 21 

 (iii) Consolidated Depreciation and Amortization Expense shall be excluded; 

(vi) Consolidated Non-cash Charges shall be excluded; 

(vii) the amount of management, consulting, monitoring, transaction and advisory fees and related expenses paid in accordance with
Section 6.07 (or any accruals related to such fees and related expenses) during such period shall be excluded; 
 (viii) any
costs or expense incurred pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement, to the extent that such cost or expenses are
funded with cash proceeds contributed to the capital of any Loan Party or net cash proceeds of an issuance of Equity Interests of the Borrower (other than Disqualified Stock) solely to the extent that such net cash proceeds are excluded from the
calculation of the Cumulative Credit shall be excluded; 
 (ix) Pre-Opening Expenses and expenses related to entering into new leases or
lease restructuring shall be excluded; 
 (x) any nonrecurring or unusual gains or losses or income or expense or charge (less all fees and
expenses relating thereto) including, without limitation, any severance, relocation or other restructuring expenses, any expenses related to any reconstruction, decommissioning, recommissioning or reconfiguration of fixed assets for alternative
uses, fees, expenses or charges relating to facilities closing costs, curtailments or modifications to pension and post-retirement employee benefit plans, excess pension charges, acquisition integration costs, facilities opening costs, project
start-up costs, business optimization costs, signing, retention or completion bonuses, business optimization expenses and other restructuring charges, reserves or expenses (which, for the avoidance of doubt, shall include, without limitation, the
effect of inventory optimization programs, facility consolidations or closures, retention, severance, systems establishment costs, contract termination costs, future lease commitments and excess pension charges), and expenses or charges related to
any offering of Equity Interests or debt securities of the Borrower, any Investment, acquisition, disposition or recapitalization, or any issuance, repayment, refinancing, amendment or modification of Indebtedness (in each case, whether or not
successful), and any fees, expenses, charges or change in control payments related to the Transactions (including any costs relating to auditing prior periods, transition-related expenses, Transaction Expenses, any costs and expenses related to
employment of terminated employees, or other rights existing on the Closing Date of officers, directors and employees, in each case of the Borrower or any of its Subsidiaries incurred after the Closing Date), shall be excluded; 

(xi) non-cash items increasing Consolidated Net Income of the Borrower and the Subsidiaries for such period (other than any such items
(A) in respect of which cash was received in a prior period or will be received in a future period or (B) which represent the reversal of any accrual of, or cash reserve for, anticipated cash charges that reduced EBITDA in any prior
period), shall be excluded; 

  
 22 

 (xii) any income or loss from disposed, abandoned, transferred, closed or discontinued operations
and any gain or loss on disposal of disposed, abandoned, transferred, closed or discontinued operations shall be excluded; 
 (xiii) any
gain or loss (less, in the case of any gain, all fees and expenses or charges relating thereto) attributable to business dispositions or asset dispositions (as determined in good faith by a Responsible Officer of the Borrower) shall be excluded;

 (xiv) any gain or loss (less, in the case of any gain, all fees and expenses or charges relating thereto) attributable to the early
extinguishment of indebtedness, Swap Agreements or other derivative instruments shall be excluded; 
 (xv) any currency translation gains
and losses related to currency remeasurements of Indebtedness, and any net loss or gain resulting from Swap Agreements for currency exchange risk, shall be excluded; 

(xvi) (x) “straight-line” rental income in excess of cash received shall be excluded, and (y) cash received which exceeds the
amount recognized in respect of “straight-line” rental income shall be included; 
 (xvii) direct financing lease adjustments
shall be excluded; 
 (xviii) (1) to the extent covered by insurance and actually reimbursed, or, so long as such Person has made a
determination that there exists reasonable evidence that such amount will in fact be reimbursed by the insurer and only to the extent that such amount is (i) not denied by the applicable carrier in writing within 180 days and (ii) in fact
reimbursed within 365 days of the date of such evidence (with a deduction for any amount so added back to the extent not so reimbursed within 365 days), expenses with respect to liability or casualty events or business interruption shall be excluded
and (2) amounts estimated in good faith to be received from insurance in respect of lost revenues or earnings in respect of liability or casualty events or business interruption shall be included (with a deduction for amounts actually received
up to such estimated amount to the extent included in Consolidated Net Income in a future period); 
 (xix) costs associated with initiating
public company reporting, including compliance with the Sarbanes-Oxley Act of 2002 shall be excluded; 
 (xx) accruals and reserves that are
established or adjusted within twelve months after the Closing Date and that are so required to be established or adjusted in accordance with GAAP or as a result of adoption or modification of accounting policies shall be excluded; 

(xxi) the cumulative effect of a change in accounting principles shall be excluded; and 

(xxii) effects of purchase accounting and fresh start accounting adjustments and principles (including the effects of such adjustments pushed
down to such Person and its Subsidiaries) in component amounts required or permitted by GAAP, resulting from the application of purchase accounting or fresh start accounting in relation to the Transactions or any consummated acquisition, or the
amortization or write-off of any amounts thereof, net of taxes, and election of push-down accounting shall be excluded. 

  
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 EBITDA shall be increased to reflect net cost savings and synergies projected by the Borrower to
be realized as a result of specified actions taken or expected to be taken to the extent such net cost savings or synergies are reasonably expected to be achieved, completed or realized within 24 months in connection with acquisitions and cost
saving, restructuring and similar initiatives, as determined in good faith by an Officer of the Borrower; provided that any such projected net cost savings and synergies, together with any Pro Forma Operating Cost Savings and Synergies included in
calculating EBITDA for such period, shall not exceed 2.50% of EBITDA for such period (calculated without giving effect to such projected net cost savings and synergies and Pro Forma Operating Cost Savings and Synergies). 

Notwithstanding anything in this definition to the contrary, EBITDA shall be deemed to be as follows: (i) prior to the date on which
financial statements have been furnished to Lenders pursuant to Section 5.04 for the first full fiscal quarter beginning and ending following the Closing Date, EBITDA shall be $442.0 million; and (ii) following the date on which financial
statements have been furnished to Lenders pursuant to Section 5.04 for a full fiscal quarter beginning and ending following the Closing Date and prior to the time that financial statements have been furnished to Lenders pursuant to
Section 5.04 for four full fiscal quarters beginning and ending following the Closing Date, EBITDA shall be annualized based upon EBITDA for the most recently ended full fiscal quarter or quarters following the Closing Date, as the case may be,
for which financial statements have been furnished to Lenders pursuant to Section 5.04 (e.g. following the date on which financial statements have been furnished pursuant to Section 5.04 for the third full fiscal quarter beginning
and ending following the Closing Date, EBITDA for the four full fiscal quarters ending as of the such third full fiscal quarter shall be computed by dividing EBITDA for the three full fiscal quarters, by 0.75). 

“Economic Sanctions Laws” means (i) the Trading with the Enemy Act (50 U.S.C. App. §§ 5(b) and 16, as amended,
modified, or supplemented from time to time), the International Emergency Economic Powers Act, (50 U.S.C. §§ 1701-1706, as amended, modified, or supplemented from time to time), Executive Order 13224 (effective September 24, 2001), as
amended, modified, or supplemented from time to time and any successor thereto, and the regulations administered and enforced by OFAC and (ii) any and all other laws, judgments, orders, executive orders, decrees, ordinances, rules, regulations,
statutes, case law or treaties applicable to a Loan Party, its Subsidiaries or Affiliates relating to economic sanctions and terrorism financing. 

“EEA Financial Institution” shall mean (a) any credit institution or investment firm established in any EEA
Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or
(c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its
parent. 
 “EEA Member Country” shall mean any of the member states of the European Union, Iceland, Liechtenstein, and
Norway. 

  
 24 

 “EEA Resolution Authority” shall mean any public administrative authority or any
person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Effective Date” shall have the meaning assigned to such term in the Plan of Reorganization. 

“Embargoed Person” shall mean (i) any country or territory that is the subject of a comprehensive sanctions program
administered by OFAC or (ii) any Person that (x) is publicly identified on the most current list of “Specially Designated Nationals and Blocked Persons” published by the U.S. Treasury Department’s Office of Foreign Assets
Control (“OFAC”) or (y) resides, is organized or chartered, or has a place of business in a country or territory that is the subject of a comprehensive sanctions program administered by OFAC. As of the Closing Date,
comprehensive sanctions programs administered by OFAC are the Iran, Sudan, and Cuba sanctions programs. 
 “environment”
shall mean ambient air, surface water and groundwater (including potable water, navigable water and wetlands), and the land surface or subsurface strata. 

“Environmental Laws” shall mean all applicable laws (including common law), rules, regulations, codes, ordinances, orders,
decrees or judgments, promulgated or entered into by any Governmental Authority, relating to the protection of the environment, reclamation of natural resources, the generation, management, Release or threatened Release of, or exposure to, any
Hazardous Material or to the protection of human health and safety (to the extent relating to the protection of the environment or exposure to or management of Hazardous Materials). 

“Equity Interests” of any Person shall mean any and all shares, interests, rights to purchase or otherwise acquire, warrants,
options, participations or other equivalents of or interests in (however designated) equity or ownership of such Person, including any preferred stock, any limited or general partnership interest and any limited liability company membership
interest, and any securities or other rights or interests convertible into or exchangeable for any of the foregoing; provided that any instrument evidencing Indebtedness convertible or exchangeable for Equity Interests shall not be deemed to
be Equity Interests, unless and until any such instruments are so converted or exchanged. 
 “ERISA” shall mean the
Employee Retirement Income Security Act of 1974, as the same may be amended from time to time and any final regulations promulgated and the rulings issued thereunder. 

“ERISA Affiliate” shall mean any trade or business (whether or not incorporated) that, together with the Borrower or any
Subsidiary, is treated as a single employer under Section 414(b)(m) or (c) of the Code, or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code.

 “ERISA Event” shall mean (a) any Reportable Event or the requirements of Section 4043(b) of ERISA apply with
respect to a Plan, (b) with respect to any Plan, the failure to satisfy the minimum funding standard under Section 412 or Section 430 of the Code or Section 302 of ERISA, whether or not waived, (c) the filing pursuant to
Section 412(c) of the 

  
 25 

 
Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan, the failure to make by its due date a required installment under
Section 430(j) of the Code with respect to any Plan or the failure to make any required contribution to a Multiemployer Plan, (d) the incurrence by the Borrower, any Subsidiary or any ERISA Affiliate of any liability under Title IV of
ERISA with respect to the termination of any Plan or Multiemployer Plan, (e) the receipt by the Borrower, any Subsidiary or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan
or to appoint a trustee to administer any Plan under Section 4042 of ERISA, (f) the incurrence by the Borrower, any Subsidiary or any ERISA Affiliate of any liability with respect to the withdrawal or partial withdrawal from any Plan or
Multiemployer Plan, (g) the receipt by the Borrower, any Subsidiary or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Borrower, any Subsidiary or any ERISA Affiliate of any notice, concerning the impending
imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA, or in “endangered” or “critical” status, within
the meaning of Section 432 of the Code or Section 305 of ERISA, (h) the imposition of a Lien under Section 412 of 430(k) of the Internal Revenue Code or Section 303 or 4068 of ERISA on any property (or rights to property,
whether real or personal) of the Borrower or any Subsidiary), (i) with respect to a Plan, the provision of security pursuant to Section 206(g) of ERISA, (j) the withdrawal of the Borrower, any Subsidiary or any ERISA Affiliate from a
Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or a cessation of operations that is treated as such a withdrawal under
Section 4062(e) of ERISA or (k) a determination that any Plan is, or is expected to be, in “at risk” status (within the meaning of Section 430 of the Code or Section 303 of ERISA), (l) the filing by the
administrator of any Plan pursuant to Section 4041(a)(2) of ERISA of a notice of intent to terminate such plan in a distress termination described in Section 4041(c) of ERISA, (m) the institution by the PBGC of proceedings to
terminate any Plan, or the occurrence of any event or condition which might constitute grounds under ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan, or (n) the occurrence of an act or omission
which could give rise to the imposition on Borrower or any of its ERISA Affiliates of material fines, penalties, taxes or related charges under Chapter 43 of the Code or under Sections 406, 409, 502(c), (i) or (l), or 4071 of ERISA in respect
of any Plan. 
 “EU Bail-In Legislation Schedule” shall mean the EU Bail-In Legislation Schedule published by the Loan
Market Association (or any successor person), as in effect from time to time. 
 “Eurocurrency Borrowing” shall mean a
Borrowing comprised of Eurocurrency Loans. 
 “Eurocurrency Loan” shall mean any Eurocurrency Term Loan or Eurocurrency
Revolving Loan. 
 “Eurocurrency Rate” means, for any Interest Period with respect to a Eurocurrency Loan, the rate per
annum (rounded upward, if necessary, to the nearest one-eighth of one percent (1/8th of 1%)) equal to the London Interbank Offered Rate (“LIBOR”) (or a successor or comparable rate applied in a manner consistent with market practice
which is selected by the Administrative Agent in consultation with the Borrower), as published by Bloomberg (or any successor or 

  
 26 

 
substitute service selected by the Administrative Agent from time to time) at approximately 11:00 a.m., London time on the date which is two (2) Business Days prior to the commencement of
such Interest Period, for deposits in the relevant currency (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period. If such rate is not available at such time for any reason, then the
“Eurocurrency Rate” for such Interest Period shall be the rate per annum determined by the Administrative Agent to be the rate at which deposits in the relevant currency for delivery on the first day of such Interest Period in Same Day
Funds in the approximate amount of the Eurocurrency Loan being made, continued or converted, and with a term equivalent to such Interest Period would be offered to major banks in the London or other interbank market for such currency at their
request at approximately 11:00 a.m. (London time) two (2) Business Days prior to the commencement of such Interest Period. 

“Eurocurrency Revolving Facility Borrowing” shall mean a Borrowing comprised of Eurocurrency Revolving Loans. 

“Eurocurrency Revolving Loan” shall mean any Revolving Facility Loan bearing interest at a rate determined by reference to
the Adjusted Eurocurrency Rate in accordance with the provisions of Article II. 
 “Eurocurrency Term Loan” shall mean any
Term Loan bearing interest at a rate determined by reference to the Adjusted Eurocurrency Rate in accordance with the provisions of Article II. 

“Event of Default” shall have the meaning assigned to such term in Section 7.01. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Excluded Accounts” shall mean (i) deposit accounts maintained by the Borrower or a Subsidiary provided that the average
balance of any such individual deposit account and all such deposit accounts in the aggregate shall not exceed $10.0 million or $30.0 million in the aggregate for all Excluded Accounts described in clause (i), respectively, for more than ten
(10) consecutive Business Days and (ii) payroll, benefit, tax, trust or escrow accounts maintained by the Borrower or a Subsidiary. 

“Excluded Contributions” means the Permitted Investments or other assets (valued at their Fair Market Value) received by the
Borrower after the Closing Date from: 
 (a) contributions to its common equity capital, and 

(b) the sale (other than to a Subsidiary of the Borrower or to any Subsidiary’s management equity plan or stock option
plan or any other management or employee benefit plan or agreement) of Equity Interests (other than Disqualified Stock) of the Borrower, 

in each case designated as Excluded Contributions pursuant to an Officer’s Certificate executed by an Officer of the Borrower on or
promptly after the date such capital contributions are made or the date such Equity Interests are sold, as the case may be, and delivered to the Administrative Agent. 

  
 27 

 “Excluded Indebtedness” shall mean all Indebtedness permitted to be incurred
pursuant to Section 6.01. 
 “Excluded Leasehold Interests” shall have the meaning assigned to such term in
Section 5.10(g). 
 “Excluded Property” shall have the meaning assigned to such term in
Section 5.10(g). 
 “Excluded Securities” shall mean any of the following: 

(a) in the case of any pledge of voting Equity Interests of any Foreign Subsidiary or FSHCO (in each case, that is owned directly by a Loan
Party) to secure the Obligations, any voting Equity Interest of such Foreign Subsidiary or FSHCO in excess of 65% of the outstanding Equity Interests of such class; 

(b) any Equity Interests or Indebtedness to the extent and for so long as the pledge thereof would be prohibited by any Requirement of Law
(including any Gaming Laws); 
 (c) any Equity Interests of any Person that is not a Wholly-Owned Subsidiary to the extent (A) that a
pledge thereof to secure the Obligations is prohibited by any contractual obligation with an unaffiliated third party other than, in this subclause (A), non-assignment provisions which are ineffective under Article 9 of the Uniform Commercial Code),
(B) any organizational documents, joint venture agreement or shareholder agreement (or other contractual obligation referred to in subclause (A) above) prohibits such a pledge without the consent of any other party; provided, that
this clause (B) shall not apply if (1) such other party is a Loan Party or a Wholly-Owned Subsidiary or (2) consent has been obtained to consummate such pledge (it being understood that the foregoing shall not be deemed to obligate
the Borrower or any Subsidiary to obtain any such consent) and for so long as such organizational documents, joint venture agreement or shareholder agreement or replacement or renewal thereof is in effect, or (C) a pledge thereof to secure the
Obligations would give any other party (other than a Loan Party or a Wholly-Owned Subsidiary) to any organizational documents, joint venture agreement or shareholder agreement governing such Equity Interests (or other contractual obligation referred
to in subclause (A) above) the right to terminate its obligations thereunder (other than, in the case of other contractual obligations referred to in subclause (A), non-assignment provisions which are ineffective under Article 9 of the Uniform
Commercial Code or other applicable Requirement of Law); 
 (d) any Equity Interests of any Immaterial Subsidiary, any Unrestricted
Subsidiary and any Qualified Non-Recourse Subsidiary; 
 (e) any Equity Interests of any Subsidiary of, or other Equity Interests owned by,
a Foreign Subsidiary; 
 (f) any Equity Interests of any Subsidiary to the extent that the pledge of such Equity Interests could reasonably
be expected to result in adverse tax, regulatory or accounting consequences to the Borrower or any Subsidiary as reasonably determined in good faith by the Borrower; and/or 

  
 28 

 (g) any Margin Stock. 

“Excluded Subsidiary” shall mean any of the following (except as otherwise provided in clause (b) of the definition of
Subsidiary Loan Party): 
 (a) each Immaterial Subsidiary; 

(b) each Domestic Subsidiary that is not a Wholly-Owned Subsidiary (including each Domestic Subsidiary that is not a Wholly-Owned Subsidiary
in existence on the Closing Date) that is formed for the primary purpose of entering into or forming one or more joint ventures or partnerships for a legitimate business purpose (for so long as such Subsidiary remains a non-Wholly-Owned Subsidiary);

 (c) each Domestic Subsidiary that is prohibited from guaranteeing or granting Liens to secure the Obligations by any Requirement of Law
(including Gaming Law) or that would require consent, approval, license or authorization of a Governmental Authority to guarantee or grant Liens to secure the Obligations (unless such consent, approval, license or authorization has been received);

 (d) each Domestic Subsidiary that is prohibited by any applicable contractual requirement from guaranteeing or granting Liens to secure
the Obligations on the Closing Date or at the time such Subsidiary becomes a Subsidiary provided such contractual requirement exists at such time, in each case, not in violation of Section 6.09(c) (and for so long as such restriction or
any replacement or renewal thereof is in effect); 
 (e) any Qualified Non-Recourse Subsidiary; 

(f) any Foreign Subsidiary; 

(g) any Domestic Subsidiary (i) that is an FSHCO or (ii) that is a Subsidiary of a Foreign Subsidiary; and 

(h) each Unrestricted Subsidiary. 

“Excluded Swap Obligation” shall mean, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or
a portion of the Guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any Guarantee thereof) is or becomes illegal or unlawful under the Commodity Exchange Act or any rule,
regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as
defined in the Commodity Exchange Act and the regulations thereunder at the time the Guarantee of such Guarantor or the grant of such security interest would otherwise have become effective with respect to such Swap Obligation but for such
Guarantor’s failure to constitute and “eligible contract participant” at such time. 
 “Excluded Taxes”
shall mean, with respect to the Administrative Agent, any Lender, any L/C Issuer or any other recipient of any payment to be made by or on account of any Loan Party under any Loan Document, (a) income or franchise Taxes imposed on (or measured
by) such 

  
 29 

 
recipient’s net income by a jurisdiction as a result of such recipient being organized in, having its principal office in or, in the case of any Lender, having its applicable lending office
in, such jurisdiction or as a result of any other present or former connection with such jurisdiction (other than any connection arising from such recipient having executed, delivered, enforced, become a party to, performed its obligations under,
received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to, and/or enforced, any Loan Documents or sold or assigned an interest in any Loan or Loan Document) and, for the avoidance of
doubt, including any backup withholding in respect of such a tax under Section 3406 of the Code (or any similar provision of state, local or foreign law), (b) any branch profits Tax under Section 884(a) of the Code, or any similar tax
that is imposed by any jurisdiction described in clause (a) above, (c) in the case of a Lender (other than an assignee pursuant to a request by the Borrower under Section 2.19(b)), any withholding tax imposed by the United
States federal government that is imposed on amounts payable to such Lender pursuant to laws in effect at the time such Lender becomes a party to this Agreement (or designates a new lending office), except to the extent that such Lender (or its
assignor, if any) was entitled, immediately prior to such assignment (or designation of a new lending office), to receive additional amounts from a Loan Party with respect to such withholding tax pursuant to Section 2.17, (d) any
withholding tax attributable to a Lender’s failure to comply with Sections 2.17(e), (f), (g), or (i) or the Administrative Agent’s failure to comply with Section 2.17(l), and (e) any Taxes
imposed pursuant to FATCA. 
 “Existing Class Loans” shall have the meaning assigned to such term in
Section 9.08(f). 
 “Extended Revolving Facility Commitment” shall have the meaning assigned to such term in
Section 2.21(e). 
 “Extended Term Loan” shall have the meaning assigned to such term in
Section 2.21(e). 
 “Extending Lender” shall have the meaning assigned to such term in
Section 2.21(e). 
 “Extension” shall have the meaning assigned to such term in Section 2.21(e).

 “Facility” shall mean the respective facility and commitments utilized in making Loans and credit extensions hereunder,
it being understood that as of the Closing Date there are two Facilities, i.e., the Term B Facility and the Revolving Facility Commitments established on the Closing Date and the extensions of credit thereunder, and thereafter, the term
“Facility” may include any Incremental Term Facility and any Revolving Facility consisting of Incremental Revolving Facility Commitments. 

“Fair Market Value” means, with respect to any asset, property or service, in the Borrower’s good faith determination,
the price that could be negotiated in an arm’s-length transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete the transaction. 

“FATCA” shall mean Sections 1471 through 1474 of the Code, as of the date of this Agreement (and any amended or successor
version that is substantively comparable and not materially more onerous to comply with), any current or future Treasury regulations promulgated thereunder, or other official governmental interpretations thereof, any agreements entered into or
applicable pursuant to current Section 1471(b)(1) of the Code (or any amended or successor version described above) or any intergovernmental agreement (or related law or official administrative guidance) implementing the foregoing. 

  
 30 

 “Federal Funds Rate” shall mean, for any day, the rate per annum equal to the
weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding
such day; provided, that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day and
(b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) of quotations for such day for such
transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it. 
 “Fee
Letter” shall mean that certain Fee Letter, dated as of [                    ], 2017, as amended, modified, waived or supplemented from time
to time, by and among the Borrower, the Administrative Agent and the Collateral Agent. 
 “Fees” shall mean the Commitment
Fees, the L/C Participation Fees, the L/C Issuer Fees, and the Administrative Agent Fees. 
 “Financial Officer” of any
Person shall mean the Chief Financial Officer, principal accounting officer, Treasurer, Assistant Treasurer or Controller of such Person. 

“Financial Performance Covenant” shall mean each financial maintenance covenant contained in this agreement from time to
time. 
 “First Lien Intercreditor Agreement” shall mean the First Lien Intercreditor Agreement substantially in the form
of Exhibit P, dated as of the Closing Date, by and among Wilmington Trust, National Association, as Collateral Agent and Administrative Agent (each as defined therein), UMB Bank, National Association, as Initial Other Authorized
Representative (as defined therein), each representative of any Other First Lien Obligations and the Loan Parties. 
 “First Lien
Notes” shall mean (i) the First Priority Senior Secured Notes, and (ii) any Permitted Refinancing Indebtedness incurred in respect thereof. 

“First Lien Obligations” shall mean the Obligations and the Other First Lien Obligations. 

“First Lien Secured Parties” shall mean the Secured Parties and the Other First Lien Secured Parties. 

“First Priority Senior Secured Notes” shall mean the $[431,000,000] in aggregate principal amount of the First-Priority
Senior Secured Floating Rate Notes due 2022 issued pursuant to the First Priority Senior Secured Notes Indenture and any notes issued by the Borrower in exchange for, and as contemplated by, the First Priority Senior Secured Notes and the related
registration rights agreement with substantially identical terms as the First Priority Senior Secured Notes. 

  
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 “First Priority Senior Secured Notes All-in Yield” shall mean the yield on the
First Priority Senior Secured Notes as reasonably determined by the Borrower taking into account interest rate, margin, original issue discount, up-front fees (other than such fees excluded pursuant to the second proviso below), rate floors or
otherwise; provided, that original issue discount and up-front fees shall be equated to interest rate assuming a 4-year life to maturity (or, if less, the life of such First Priority Senior Secured Notes); provided, further,
that “First Priority Senior Secured Notes All-in Yield” shall not include arrangement, commitment, underwriting, structuring or similar fees, customary consent fees or any fee for an amendment paid generally to consenting creditors. 

“First Priority Senior Secured Notes Indenture” shall mean the Indenture, dated as of
[            ], among the Borrower, VICI FC Inc., each as an issuer, the subsidiary guarantors party thereto from time to time and UMB Bank, National Association, as trustee. 

“Foreign Lender” shall mean any Lender (a) that is not disregarded as separate from its owner for U.S. federal income
tax purposes and that is not a United States Person or (b) that is disregarded as separate from its owner for U.S. federal income tax purposes and whose regarded owner is not a United States Person. 

“Foreign Subsidiary” shall mean any Subsidiary that is incorporated or organized under the laws of any jurisdiction other
than the United States of America, any State thereof or the District of Columbia. 
 “Fronting Exposure” means, at any time
there is a Defaulting Lender under any Revolving Facility, (a) with respect to the L/C Issuer, such Defaulting Lender’s Revolving Facility Percentage of the outstanding L/C Obligations under such Revolving Facility other than L/C
Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof and (b) with respect to the Swingline Lender, such Defaulting
Lender’s Revolving Facility Percentage of Swingline Loans under such Revolving Facility other than Swingline Loans as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized
in accordance with the terms hereof. 
 “FSHCO” shall mean any Subsidiary that owns no material assets other than cash, the
Equity Interests or debt securities of one or more Foreign Subsidiaries that are CFCs and/or of one or more FSHCOs. 

“GAAP” shall mean generally accepted accounting principles in effect from time to time in the United States, applied on a
consistent basis, subject to the provisions of Section 1.02; provided that any reference to the application of GAAP in Sections 3.13(b), 3.20, 5.03, 5.07 and 6.02(e) to a Foreign Subsidiary (and
not as a consolidated Subsidiary of the Borrower) shall mean generally accepted accounting principles in effect from time to time in the jurisdiction of organization of such Foreign Subsidiary. 

“Gaming Authority” means, in any jurisdiction in which the Borrower or any of its subsidiaries manages or conducts any
casino, racing, gaming business or activities, the applicable gaming board, commission, or other governmental gaming regulatory body or agency 

  
 32 

 
which (a) has, or may at any time after the Closing Date have, jurisdiction over the casino, racing, or gaming activities of the Borrower or any of its subsidiaries or any successor to such
authority or (b) is, or may at any time after the Closing Date be, responsible for interpreting, administering and enforcing the Gaming Laws. 

“Gaming Laws” means all applicable constitutions, treaties, laws, rates, regulations and orders and statutes pursuant to
which any Gaming Authority possesses regulatory, licensing or permit authority over gaming, gambling, racing, or casino activities and all rules, rulings, orders, ordinances, regulations of any Gaming Authority applicable to the gambling, casino,
racing, gaming businesses or activities of the Borrower or any of its subsidiaries in any jurisdiction, as in effect from time to time, including the policies, interpretations and administration thereof by the Gaming Authorities. 

“Global Intercompany Note” means (a) a promissory note substantially in the form of Exhibit K or (b) any
other promissory note that is in form and substance reasonably satisfactory to the Required Lenders, in each case of clauses (a) and (b), that (i) evidences Indebtedness owed by and between and/or among Loan Parties and their Subsidiaries
and (ii) subordinates all Indebtedness owed by a Loan Party thereunder to a Subsidiary that is not a Loan Party in right of payment to the prior payment of the Obligations in full in cash. 

“Governmental Authority” shall mean any federal, state, local or foreign court or governmental agency, authority,
instrumentality or regulatory or legislative body (including any supra-natural bodies such as the European Union or the European Central Bank). 

“Guarantee” of or by any Person (the “guarantor”) shall mean (a) any obligation, contingent or
otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other monetary obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or
indirectly, and including any obligation of the guarantor, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property,
securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity of the
primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the holders of such Indebtedness or other obligation of the payment thereof
or to protect such holders against loss in respect thereof (in whole or in part) or (b) any Lien on any assets of the guarantor securing any Indebtedness (or any existing right, contingent or otherwise, of the holder of Indebtedness to be
secured by such a Lien) of any other Person, whether or not such Indebtedness or other obligation is assumed by the guarantor; provided, however, the term “Guarantee” shall not include endorsements for deposit or collection
in the ordinary course of business or customary and reasonable indemnity obligations in effect on the Closing Date or entered into in connection with any acquisition or disposition of assets permitted by this Agreement (other than such obligations
with respect to Indebtedness). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the Indebtedness in respect of which such Guarantee is made or, if not stated or determinable, the maximum
reasonably anticipated liability in respect thereof as determined by such Person in good faith. 

  
 33 

 “guarantor” shall have the meaning assigned to such term in the definition of
the term “Guarantee.” 
 “Hazardous Materials” shall mean all pollutants, contaminants, and toxic or hazardous
wastes, chemicals, materials, substances and constituents, including, without limitation, explosive or radioactive substances or petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls or radon gas,
of any nature subject to regulation or which can give rise to liability under any Environmental Law. 
 “Hedge Bank” shall
mean any Person that is (or an Affiliate thereof is) an Agent or a Lender on the Closing Date (or any Person that becomes an Agent or Lender or Affiliate thereof after the Closing Date) and that enters into a Swap Agreement, in each case, in its
capacity as a party to such Swap Agreement. 
 “Honor Date” shall have the meaning assigned to such term in
Section 2.05(c)(i). 
 “Immaterial Subsidiary” shall mean any Subsidiary that (a) did not, as of the last
day of the fiscal quarter of the Borrower most recently ended for which financial statements have been delivered pursuant to Section 5.04(a) or 5.04(b), have assets with a value in excess of 2.5% of the Adjusted Total Assets or
revenues representing in excess of 7.5% of total revenues of the Borrower and the Subsidiaries on a combined or consolidated basis as of such date and (b) taken together with all Immaterial Subsidiaries as of the last day of the fiscal quarter
of the Borrower most recently ended, did not have assets with a value in excess of 2.5% of Adjusted Total Assets or revenues representing in excess of 7.5% of total revenues of the Borrower and the Subsidiaries on a combined or consolidated basis as
of such date; provided, that the Borrower may elect in its sole discretion to exclude as an Immaterial Subsidiary any Subsidiary that would otherwise meet the definition thereof. 

“Increased Amount” of any Indebtedness shall mean any increase in the amount of such Indebtedness in connection with any
accrual of interest, the accretion of accreted value, the amortization of original issue discount, the payment of interest in the form of additional Indebtedness or in the form of common Equity Interest of the Borrower, the accretion of original
issue discount or liquidation preference and increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies. 

“Increased Amount Date” shall have the meaning assigned to such term in Section 2.21(a). 

“Incremental Amount” shall mean, at any time, the sum of: 

(1) the excess, if any, of (a) $60,000,000 over (b) the sum of (x) the aggregate principal amount of all outstanding
Incremental Term Loans and Incremental Revolving Facility Commitments established after the Closing Date pursuant to Section 2.21 utilizing this clause (1) (other than Incremental Term Loans and Incremental Revolving Facility
Commitments in respect of Refinancing Term Loans, Extended Term Loans, Extended Revolving Facility Commitments or Replacement Revolving Facility Commitments, respectively) plus (y) the aggregate principal amount of Indebtedness
outstanding pursuant to Section 6.01(ee) at such time; plus 

  
 34 

 (2) the excess, if any, of (a) $1,450 million reduced on a dollar for dollar basis for any
Indebtedness incurred to finance the acquisition of the Option Properties incurred pursuant to Section 6.01(ee) over (b) the sum of (x) the aggregate principal amount of all outstanding Incremental Term Loans and
Incremental Revolving Facility Commitments established after the Closing Date pursuant to Section 2.21 utilizing this clause (2) (other than Incremental Term Loans and Incremental Revolving Facility Commitments in respect of
Refinancing Term Loans, Extended Term Loans, Extended Revolving Facility Commitments or Replacement Revolving Facility Commitments, respectively); plus 

(3) any additional amounts so long as immediately after giving effect to the incurrence of Incremental Loans or Indebtedness incurred pursuant
to Section 6.01(ee), as applicable, and the use of proceeds thereof, (a) in the case of Incremental Loans or Indebtedness incurred pursuant to Section 6.01(ee), in each case, that is secured by a Lien on the Collateral
that is pari passu with the Liens on the Collateral securing Term B Loans and the Revolving Loans (if any), the Senior Secured Leverage Ratio on a Pro Forma Basis is not greater than 5.41 to 1.00, (b) in the case of Incremental Loans or
Indebtedness incurred pursuant to Section 6.01(ee), in each case, that is secured by a Lien on the Collateral that is junior to the Liens on the Collateral securing the Term B Loans and the Revolving Loans (if any), the Total Secured
Leverage Ratio on a Pro Forma Basis is not greater than 8.98 to 1.00, and (c) in the case of Incremental Loans or Indebtedness incurred pursuant to Section 6.01(ee), in each case, that is unsecured, the Total Leverage Ratio on a Pro
Forma Basis is less than or equal to 8.98 to 1.00. 
 For the avoidance of doubt, in all instances if the Borrower incurs Indebtedness under clause
(1) or (2) of this definition of “Incremental Amount” on the same date that it incurs Indebtedness under clause (3) of this definition of “Incremental Amount”, then unless the Borrower elects otherwise, each
Incremental Loan will be deemed incurred first under clause (3) of this definition to the extent permitted (without giving effect to any incurrence under clause (1) or (2), as applicable, on such date), and if such Indebtedness meets the
criteria for incurrence under both clauses (1) or (2), as applicable, and (3), such Indebtedness at any time shall be permitted under one or the other as determined by the Borrower from time to time. 

“Incremental Assumption Agreement” shall mean an Incremental Assumption Agreement among the Borrower, the Administrative
Agent and one or more Incremental Term Lenders and/or Incremental Revolving Facility Lenders entered into pursuant to Section 2.21. 

“Incremental Revolving Facility Assumption Agreement” shall mean an Incremental Assumption Agreement which provides for an
Incremental Revolving Facility Commitment. 
 “Incremental Loan” means any (i) Term Loans made pursuant to any
Incremental Term Loan Commitment or (ii) Revolving Loans made pursuant to any Incremental Revolving Facility Commitment. 

“Incremental Revolving Facility Commitment” shall mean any increased or incremental Revolving Facility Commitment provided
pursuant to Section 2.21. 

  
 35 

 “Incremental Revolving Facility Lender” shall mean a Lender with a Revolving
Facility Commitment or an outstanding Revolving Facility Loan as a result of an Incremental Revolving Facility Commitment. 

“Incremental Term Borrowing” shall mean a Borrowing comprised of Incremental Term Loans. 

“Incremental Term Facility” shall mean any Class of Incremental Term Loan Commitments and the Incremental Term Loans made
hereunder. 
 “Incremental Term Facility Assumption Agreement” shall mean an Incremental Assumption Agreement which
provides for an Incremental Term Loan Commitment. 
 “Incremental Term Facility Maturity Date” shall mean, with respect to
any Class of Incremental Term Loans established pursuant to an Incremental Assumption Agreement, the maturity date for such Class as set forth in such Incremental Assumption Agreement. 

“Incremental Term Lender” shall mean a Lender with an Incremental Term Loan Commitment or an outstanding Incremental Term
Loan. 
 “Incremental Term Loan Commitment” shall mean the commitment of any Lender, established pursuant to
Section 2.21, to make Incremental Term Loans to the Borrower. 
 “Incremental Term Loan Installment Date” shall
have, with respect to any Class of Incremental Term Loans established pursuant to an Incremental Assumption Agreement, the meaning assigned to such term in Section 2.10(a)(ii). 

“Incremental Term Loans” shall mean Term Loans made by one or more Lenders to the Borrower pursuant to
Section 2.01(c). Incremental Term Loans may be made in the form of additional Term B Loans or, to the extent permitted by Section 2.21 and provided for in the relevant Incremental Assumption Agreement, Other Term Loans
(including in the form of Extended Term Loans or Refinancing Term Loans, as applicable). 
 “Indebtedness” of any Person
shall mean, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes, loans or similar instruments, (c) all obligations of such Person issued
or assumed as the deferred purchase price of property or services, to the extent the same would be required to be shown as a long-term liability on a balance sheet prepared in accordance with GAAP, (d) all Capitalized Lease Obligations of such
Person, (e) all net payments that such Person would have to make in the event of an early termination, on the date of determination, in respect of outstanding Swap Agreements, (f) all obligations of such Person for the reimbursement of any
obligor in respect of letters of credit, (g) all obligations of such Person in respect of bankers’ acceptances, (h) all Guarantees by such Person of Indebtedness described in clauses (a) to (g) above, (i) all
obligations secured by any Lien on property owned or acquired by such Person, whether or not the obligations secured thereby have been assumed, but if not assumed limited to the lower of (i) the Fair Market Value of such property and
(ii) the amount of obligations secured by such Lien and (j) the amount of all obligations of such Person with respect to the redemption, repayment or other repurchase of any Disqualified Stock (excluding accrued dividends that have

  
 36 

 
not increased the liquidation preference of such Disqualified Stock); provided, that Indebtedness shall not include (A) trade and other ordinary course payables, accrued expenses and
intercompany liabilities arising in the ordinary course of business, (B) prepaid or deferred revenue arising in the ordinary course of business, (C) purchase price holdbacks arising in the ordinary course of business in respect of a
portion of the purchase prices of an asset to satisfy unperformed obligations of the seller of such asset, (D) earn-out obligations until such obligations become a liability on the balance sheet of such Person in accordance with GAAP and are
not paid when due, (E) operating leases, (F) customary obligations under employment agreements and deferred compensation, (G) deferred tax liabilities, (H) the Common Units, (I) Permitted Non-Recourse Guarantees until such
time as they become primary obligations of, and payments are due and required to be made thereunder by, such Person or any of its Subsidiaries or (J) any obligations or liabilities that arise as a result of a transaction or series of
transactions that constitute a failed sale as determined in accordance with GAAP. The Indebtedness of any Person shall include the Indebtedness of any partnership in which such Person is a general partner, other than to the extent that the
instrument or agreement evidencing such Indebtedness expressly limits the liability of such Person in respect thereof. 

“Indemnified Taxes” shall mean all Taxes imposed on or with respect to or measured by any payment by or on account of any
obligation of any Loan Party hereunder or under any other Loan Document other than Excluded Taxes and Other Taxes. 

“Indemnitee” shall have the meaning assigned to such term in Section 9.05(b). 

“Independent Financial Advisor” means an accounting, appraisal or investment banking firm, in each case of nationally
recognized standing, that is, as determined in good faith by a Responsible Officer of the Borrower, qualified to perform the task for which it has been engaged. 

“Information” shall have the meaning assigned to such term in Section 3.14(a). 

“Initial Term B Loans” shall mean the term loans made under the Term B Loan Commitment on the Closing Date. 

“Insurance Assignment” shall mean, with respect to each Mortgaged Vessel, an Assignment of Insurances substantially in the
form of Exhibit O (with such changes to account for local law matters as determined by the Borrower in good faith) made by the applicable Loan Party in favor of the Security Trustee for the benefit of the Secured Parties, as the same may be amended,
supplemented or otherwise modified from time to time. 
 “Intellectual Property Rights” shall have the meaning assigned to
such term in Section 3.22. 
 “Interest Election Request” shall mean a request by the Borrower to convert or
continue a Term Borrowing or Revolving Facility Borrowing in accordance with Section 2.07. 
 “Interest
Expense” shall mean, with respect to any Person for any period, the sum of (a) interest expense of such Person for such period, to the extent such expense was deducted in computing Consolidated Net Income (including amortization of
original issue discount, the 

  
 37 

 
interest component of Capitalized Lease Obligations, and net payments and receipts (if any) pursuant to Swap Agreements and excluding amortization of deferred financing fees, debt issuance
costs, commissions, fees and expenses and expensing of any bridge, commitment fees, any expense resulting from the discounting of any outstanding Indebtedness in connection with the application of purchase accounting and non-cash costs associated
with Swap Agreements, or any other financing fees); plus (2) consolidated capitalized interest of such Person for such period, whether paid or accrued; minus (3) interest income for such period. For purposes of this
definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by the Borrower to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. 

“Interest Payment Date” means, (a) as to any Loan other than an ABR Loan, the last day of each Interest Period
applicable to such Loan and the scheduled maturity date of such Loan; provided, however, that if any Interest Period for a Eurocurrency Loan exceeds three months, (x) in the case of the initial Interest Period, the initial
Interest Payment Date shall be December 31, 2017 and (y) in the case of each Interest Period thereafter, the respective dates that fall every three months after the beginning of such Interest Period shall also be Interest Payment Dates and
(b) as to any ABR Loan (including a Swingline Loan), the last Business Day of each March, June, September and December and the scheduled maturity date of such Loan. 

“Interest Period” means, as to each Eurocurrency Loan, the period commencing on the date such Eurocurrency Loan is disbursed
or converted to or continued as a Eurocurrency Loan and ending on the date one, two, three or six months (or twelve months if agreed to by each applicable Lender or such period of shorter than one month as may be consented to by the Administrative
Agent) thereafter, as selected by the Borrower; provided that: 
 (a) any Interest Period that would otherwise end on a day that is
not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day; 

(b) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding
day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and 

(c) no Interest Period for any Loan shall extend beyond the maturity date of such Loan. 

Interest shall accrue from and including the first day of an Interest Period to but excluding the last day of such Interest Period. 

“Investment” shall have the meaning assigned to such term in Section 6.04. For purposes of the definition of
“Unrestricted Subsidiary” and Section 6.04, “Investment” shall include (x) the Fair Market Value of the assets of a Subsidiary at the time such Subsidiary is designated an Unrestricted Subsidiary and (y) the Fair
Market Value of any property transferred to or from an Unrestricted Subsidiary at the time of such transfer. 

  
 38 

 “ISP” means, with respect to any Letter of Credit, the “International
Standby Practices 1998” published by the Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance). 

“Issuer Documents” means, with respect to any Letter of Credit, the Letter of Credit Application, and any other document,
agreement and instrument entered into by the L/C Issuer and the Borrower (or any Subsidiary) or in favor of the L/C Issuer and relating to such Letter of Credit. 

“Junior Financing” shall have the meaning assigned to such term in Section 6.09(b). 

“Junior Lien Intercreditor Agreement” shall mean the Second Lien Intercreditor Agreement substantially in the form of
Exhibit R, dated as of the Closing Date, by and among Wilmington Trust, National Association, as Credit Agreement Agent (as defined therein), UMB Bank, National Association,, as Initial Other First Priority Lien Obligations Agent (as defined
therein), each Other First Priority Lien Obligations Agent (as defined therein) and UMB Bank, National Association, as trustee and collateral agent and each representative of any Other Second Lien Obligations (as defined therein), and each Loan
Party. 
 “L/C Advance” means, with respect to each Lender, such Lender’s funding of its participation in any L/C
Borrowing in accordance with its Revolving Facility Percentage under the applicable Revolving Facility. All L/C Advances shall be denominated in Dollars. 

“L/C Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit which has not been
reimbursed on the date when made or refinanced as an ABR Revolving Loan. All L/C Borrowings shall be denominated in Dollars. 
 “L/C
Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof (which shall exclude, for the avoidance of doubt, amendments or modifications
of a Letter of Credit without any increase in the stated amount of such Letter of Credit or extension of the expiration date of such Letter of Credit). 

“L/C Issuer” shall mean any L/C Issuer designated pursuant to Section 2.05(k), in each case in its capacity as an
issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 8.09. An L/C Issuer may, in its discretion and with the consent of the Borrower, arrange for one or more Letters of Credit to be issued by
Affiliates of such L/C Issuer, in which case the term “L/C Issuer” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate. In the event that there is more than one L/C Issuer at any time, references
herein and in the other Loan Documents to the L/C Issuer shall be deemed to refer to the L/C Issuer in respect of the applicable Letter of Credit or to all L/C Issuers, as the context requires. 

“L/C Issuer Fees” shall have the meaning assigned to such term in Section 2.12(b). 

“L/C Obligations” means, as at any date of determination, the aggregate amount available to be drawn under all outstanding
Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For all purposes of this Agreement, if on any date of 

  
 39 

 
determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to
be “outstanding” in the amount so remaining available to be drawn. 
 “L/C Participation Fee” shall have the
meaning assigned such term in Section 2.12(b). 
 “Lease Agreements” shall mean each of (i) the Master
Lease (CPLV) among Desert Palace LLC, CEOC and CEOC, LLC, as Tenant, and CPLV Property Owner LLC, as Landlord, (ii) the Master Lease (Non-CPLV) among CEOC, LLC and the entities listed therein, as Tenant, and the entities listed therein, as
Landlord, (iii) the Lease (Joliet) by and between Harrah’s Joliet Landco LLC as Landlord and Des Plaines Development Limited Partnership, as Tenant, for Harrah’s Joliet—Joliet, Illinois, (iv) any ROFR Lease (as defined in
the Right of First Refusal Agreement), and (v) if applicable, the Option Lease Agreements, in each case, as amended, restated, supplemented or otherwise modified from time to time. 

“Lender” shall mean each financial institution listed on Schedule 2.01 (other than any such Person that has ceased to
be a party hereto pursuant to an Assignment and Acceptance in accordance with Section 9.04), as well as any Person that becomes a “Lender” hereunder pursuant to Section 9.04 or Section 2.21. 

“Lender Participation Notice” shall have the meaning assigned to such term in Section 2.11(g)(iii). 

“lending office” shall mean, as to any Lender, the applicable branch, office or Affiliate of such Lender designated by such
Lender to make Loans. 
 “Letter of Credit” shall mean any letter of credit issued hereunder. A Letter of Credit may be a
commercial letter of credit or a standby letter of credit. 
 “Letter of Credit Application” shall mean an application and
agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer. 
 “Letter of
Credit Commitment” shall mean, with respect to each L/C Issuer, the commitment of such L/C Issuer to issue Letters of Credit pursuant to Section 2.05. 

“Letter of Credit Expiration Date” shall mean, with respect to any Revolving Facility, the Revolving Facility Maturity Date
for such Revolving Facility then in effect (or, if such day is not a Business Day, the next Business Day). 
 “Letter of Credit
Sublimit” shall mean the aggregate Letter of Credit Commitments of the L/C Issuer, in an amount not to exceed the amount identified in any Incremental Revolving Facility Assumption Agreement or such larger amount not to exceed the Revolving
Facility Commitment as the Administrative Agent and the applicable L/C Issuer may agree. The Letter of Credit Sublimit is part of, and not in addition to, the Revolving Facility Commitments. For the avoidance of doubt, on the Closing Date the Letter
of Credit Sublimit is $0.00. 

  
 40 

 “License Revocation” means the revocation, failure to renew or suspension of, or
the appointment of a receiver, supervisor, conservator or similar official with respect to, any casino, gambling or gaming license issued by any Gaming Authority material to any casino or gaming facility of a Borrower or any of its Subsidiaries (and
in each case such revocation, failure to renew, suspension or appointment (i) is not stayed pending appeal and (ii) causes a cessation of gaming activities). 

“Lien” shall mean, with respect to any asset, (a) any mortgage, deed of trust, lien, hypothecation, pledge, charge,
security interest or similar encumbrance in or on such asset and (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same
economic effect as any of the foregoing) relating to such asset; provided that in no event shall an operating lease, the Lease Agreements, the Management and Lease Support Agreement, or an agreement to sell be deemed to constitute a Lien.

 “Limited Condition Transaction” shall mean (i) any acquisition permitted hereunder whose consummation is not
conditioned on the availability of, or on obtaining, third party financing and/or (ii) any redemption, repurchase, defeasance, satisfaction and discharge or repayment of Indebtedness requiring irrevocable notice in advance of such redemption,
repurchase, defeasance, satisfaction and discharge or repayment. 
 “Limited Liability Company Agreement” means the limited
liability company agreement of the Borrower. 
 “Liquor Authorities” means, in any jurisdiction in which the Borrower or
any of its Subsidiaries sells and distributes liquor, the applicable alcoholic beverage commission or other Governmental Authority responsible for interpreting, administering and enforcing the Liquor Laws. 

“Liquor Laws” means the laws, rules, regulations and orders applicable to or involving the sale and distribution of liquor by
the Borrower or any of its Subsidiaries in any jurisdiction, as in effect from time to time, including the policies, interpretations and administration thereof by the applicable Liquor Authorities. 

“Loan Documents” shall mean (i) this Agreement, (ii) the Subsidiary Guarantee Agreement, (iii) the Security
Documents, (iv) each Incremental Assumption Agreement, and (v) any Note issued under Section 2.09(e); provided that for purposes of the expense reimbursement and indemnity provisions in Section 8.07 and
Section 9.05 only, the First Lien Intercreditor Agreement and the Junior Lien Intercreditor Agreement and each Permitted Pari Passu Intercreditor Agreement shall be deemed to be “Loan Documents.” 

“Loan Obligations” shall mean (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and
interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and premium (including the applicable Prepayment
Premium) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this
Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest 

  
 41 

 
thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding)
and obligations to provide Cash Collateral, and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and
indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of
whether allowed or allowable in such proceeding) and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents. 

“Loan Parties” shall mean the Borrower and the Subsidiary Loan Parties. 

“Loans” shall mean the Term Loans, the Revolving Facility Loans and the Swingline Loans. 

“Majority Lenders” of any Facility shall mean, at any time, Lenders under such Facility having Loans and unused Commitments
representing more than 50% of the sum of all Loans outstanding under such Facility and unused Commitments under such Facility at such time. The Loans, Commitments and Revolving Facility Credit Exposures of any Defaulting Lender shall be disregarded
in determining Majority Lenders at any time. 
 “Management and Lease Support Agreement” means (i) the Management and
Lease Support Agreement (CPLV) among Desert Palace LLC and CEOC and CEOC, LLC, as Tenant, CPLV Manager, LLC, as Manager, CEC, as Lease Guarantor, CPLV Property Owner LLC, as Landlord, Caesars License Company, LLC and Caesars World, Inc., as amended,
restated, supplemented, renewed, replaced or otherwise modified in accordance with this Agreement, (ii) the Management and Lease Support Agreement (Non-CPLV) among CEOC, LLC and entities listed therein, as Tenant, Non-CPLV Manager, LLC, as
Manager, CEC, as Lease Guarantor, the entities listed therein, as Landlord, Caesars License Company, LLC and Caesars Enterprise Services, LLC, and (iii) each real estate management agreement and any other operating management agreement or
shared services agreement entered into by any Borrower or any of its Subsidiaries with CEC or with any Subsidiary of CEC, in each case as amended, restated, supplemented, replaced, renewed or otherwise modified in accordance with this Agreement.

 “Margin Stock” shall have the meaning assigned to such term in Regulation U. 

“Material Adverse Effect” shall mean a material adverse effect on the business, property, operations or financial condition
of the Borrower and the Subsidiaries, taken as a whole, or the validity or enforceability of any of the material Loan Documents or the material rights and remedies of the Administrative Agent and the Lenders thereunder. 

“Material Indebtedness” shall mean Indebtedness (other than Loans and Letters of Credit) of any one or more of the Borrower
or any Subsidiary in an aggregate principal amount exceeding $60,000,000. 
 “Material Subsidiary” shall mean any
Subsidiary other than Immaterial Subsidiaries. 

  
 42 

 “Maximum Rate” shall have the meaning assigned to such term in
Section 9.09. 
 “Moody’s” shall mean Moody’s Investors Service, Inc. 

“Mortgaged Properties” shall mean the Owned Real Properties and Pledged Leasehold Interests owned by any Loan Party that are
set forth on Schedule 1.01(A) and each additional Owned Real Property and Pledged Leasehold Interest encumbered by a Mortgage or Additional Mortgage pursuant to Section 5.10. 

“Mortgaged Vessel” shall mean (a) each Documented Vessel listed on Schedule 1.01(A) and (b) each additional
Documented Vessel or Replacement Vessel, if any, encumbered by a Ship Mortgage or required to be so encumbered pursuant to Sections 5.10(c)(ii) or 5.10(d). 

“Mortgages” shall mean, collectively, the mortgages, trust deeds, deeds of trust, deeds to secure debt, assignments of leases
and rents, and other security documents delivered with respect to Mortgaged Properties, substantially, in the form of Exhibit E-1 (with such changes as are required by the jurisdiction in which the applicable Mortgaged Property is located and
reasonably acceptable to the Collateral Agent and the Borrower). For the avoidance of doubt, the term “Mortgages” shall include, without limitation, the Additional Mortgages. 

“Multiemployer Plan” shall mean a multiemployer plan as defined in Section 4001(a)(3) of ERISA to which the Borrower or
any Subsidiary is making or is obligated to make contributions or to which Borrower has any liability (including any liability on account of any ERISA Affiliate). 

“Net Income” shall mean, with respect to any Person, the net income (loss) of such Person, determined in accordance with GAAP
and before any reduction in respect of preferred stock dividends. 
 “Net Proceeds” shall mean: 

(a) 100% of the cash proceeds actually received by the Borrower or any Subsidiary (including any cash payments received by way of deferred
payment of principal pursuant to a note or installment receivable or purchase price adjustment receivable or otherwise and including casualty insurance settlements and condemnation awards, but only as and when received) from any Asset Sale under
Sections 6.05(g) and (t), net of (i) attorneys’ fees, accountants’ fees, investment banking fees, survey costs, title insurance premiums, and related search and recording charges, transfer taxes, deed or mortgage
recording taxes, required debt payments and required payments of other obligations relating to the applicable asset to the extent such debt or obligations are secured by a Lien permitted hereunder (other than First Lien Obligations) on such asset,
other customary expenses and brokerage, consultant and other customary fees actually incurred in connection therewith, (ii) Taxes paid or payable (in the good faith determination of the Borrower) as a result thereof or the amount permitted to
be distributed to any Parent Entity of the Borrower pursuant to Section 6.06(n), (iii) the amount of any reasonable reserve established in accordance with GAAP against any adjustment to the sale price or any liabilities (other than
any taxes deducted pursuant to clause (i) or (ii) above) (x) related to any of the applicable assets and (y) retained by the Borrower or any of the Subsidiaries including, without limitation, pension and other post-employment
benefit liabilities or against any indemnification obligations 

  
 43 

 
(however, the amount of any subsequent reduction of such reserve (other than in connection with a payment in respect of any such liability) shall be deemed to be cash proceeds of such Asset Sale
occurring on the date of such reduction), and (iv) amounts required to be distributed as a result of the realization of gains from Asset Sales in order to maintain or preserve Parent’s status as a REIT; provided, that, the Borrower
or any Subsidiary may to use any portion of such proceeds, to acquire, maintain, develop, construct, improve, upgrade or repair assets used or useful in the business of the Borrower and the Subsidiaries or to make Permitted Business Acquisitions and
other permitted Investments hereunder (except for Permitted Investments or intercompany Investments in Subsidiaries), in each case within 12 months of such receipt, and such portion of such proceeds shall not constitute Net Proceeds except to the
extent not, within 12 months of such receipt, so used or contractually committed to be so used (it being understood that if any portion of such proceeds are not so used within such 12-month period but within such 12-month period are contractually
committed to be used, then within 6 months after the expiration of the initial 12 month period, such remaining portion if not so used by such time shall constitute Net Proceeds without giving effect to this proviso); provided, further,
that with respect to an Asset Sale by any Person other than the Borrower or a Wholly-Owned Subsidiary, Net Proceeds shall be the above amount multiplied by the Borrower’s direct or indirect percentage ownership interest in such Person;
provided, further, that no net cash proceeds calculated in accordance with the foregoing realized in any fiscal year shall constitute Net Proceeds for purposes of Sections 2.10 and 2.11 in such fiscal year until the
aggregate amount of all such net proceeds in such fiscal year shall exceed $30,000,000, and only such net proceeds in excess of $30,000,000 shall constitute Net Proceeds (without any carryover to subsequent years) (amounts below such threshold,
“Below Threshold Asset Sale Proceeds”); and 
 (b) 100% of the cash proceeds from the incurrence, issuance or sale by the
Borrower or any Subsidiary Loan Party of any Indebtedness (other than Excluded Indebtedness), net of all taxes and fees (including investment banking fees), commissions, costs and other expenses, in each case incurred, or projected by the Company to
be incurred in its reasonable good faith determination, in connection with such issuance or sale. 
 “New Class Loans”
shall have the meaning assigned to such term in Section 9.08(f). 
 “New Project” shall mean each capital
project which is either a new project or a new feature at an existing project owned by the Borrower or its Subsidiaries which receives a certificate of completion or occupancy and all relevant licenses, and in fact commences operations. 

“New York Courts” shall have the meaning assigned to such term in Section 9.15. 

“Non-Consenting Lender” shall have the meaning assigned to such term in Section 2.19(c). 

“Non-Defaulting Lender” shall mean, at any time, each Lender that is not a Defaulting Lender at such time. 

“Non-Extension Notice Date” shall have the meaning assigned to such term in Section 2.05(b). 

  
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 “Non-Reinstatement Deadline” shall have the meaning assigned to such term in
Section 2.05(b). 
 “Note” shall have the meaning assigned to such term in Section 2.09(e). 

“NVDC” shall mean the United States Coast Guard’s National Vessel Documentation Center or any successor entity. 

“Obligations” shall mean, collectively, (a) the Loan Obligations, (b) obligations in respect of any Secured Cash
Management Agreement, and (c) obligations in respect of any Secured Swap Agreement. 
 “OFAC” shall have meaning set
forth in the definition of “Embargoed Person.” 
 “Offered Loans” shall have the meaning assigned to such term in
Section 2.11(g)(iii). 
 “OpCo” means Caesars Entertainment Operating Company, Inc., a Delaware limited
liability company and the surviving entity in the CEOC Merger. References to CEOC herein shall include OpCo following the CEOC Merger. 

“Option Lease Agreements” means, if any, the leases executed in respect of the Option Properties. 

“Option Properties” means such properties and improvements thereto which are the subject of that certain PropCo Call Right
Agreement. 
 “Other First Lien Obligations” shall mean the “Other First Lien Obligations” as defined in the
Collateral Agreement, including any interest accruing after commencement of any bankruptcy or insolvency proceeding with respect to any holder of Other First Lien Obligations whether or not allowed in such proceeding. 

“Other First Lien Secured Parties” shall mean the “Other First Lien Secured Parties” as defined in the Collateral
Agreement. 
 “Other Taxes” shall mean all present or future stamp or documentary Taxes or any other excise, transfer,
sales, property, intangible, mortgage recording, or similar Taxes, charges or levies arising from any payment made under any Loan Document or from the execution, registration, delivery or enforcement of, or otherwise with respect to, the Loan
Documents, and, for the avoidance of doubt, excluding any Excluded Taxes. 
 “Other Term Loans” shall have the meaning
assigned to such term in Section 2.21(a). 
 “Outstanding Amount” means (i) with respect to any Loans on
any date, the Dollar Equivalent amount of the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of such Loans occurring on such date, (ii) with respect to Swingline Loans on any
date, the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of such Swingline Loans occurring on such date, and (iii) with respect to any L/C Obligations on any date, the Dollar

  
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Equivalent amount of the aggregate outstanding amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the
aggregate amount of the L/C Obligations as of such date, including as a result of any reimbursements by the Borrower of Unreimbursed Amounts. 

“Overdraft Line” shall have the meaning assigned to such term in Section 6.01(w). 

“Overnight Rate” means, for any day, the greater of (i) the Federal Funds Rate and (ii) an overnight rate
determined by the Administrative Agent, the L/C Issuer, or the Swingline Lender, as the case may be, in accordance with banking industry rules on interbank compensation. 

“Owned Real Property” means each parcel of Real Property that is located in the United States and is owned in fee by any Loan
Party that has an individual Fair Market Value (on a per property basis) of at least $10,000,000 (x) as of the Closing Date, for Real Property now owned or (y) the date of acquisition, for Real Property acquired after the Closing Date
(provided that such $10,000,000 threshold shall not be applicable in the case of Real Property that is integrally related to the ownership or operation of a Mortgaged Property or otherwise necessary for such Mortgaged Property to be in
compliance with all requirements of law applicable to such Mortgaged Property); provided that, with respect to any Real Property that is partially owned in fee and partially leased by any Loan Party, Owned Real Property will include both that
portion of such material real property that is owned in fee and that portion that is so leased to the extent that (i) such leased portion is integrally related to the ownership or operation of the balance of such material real property or is
otherwise necessary for such real property to be in compliance with all requirements of law applicable to such material real property in fee and only if (ii) such portion that is owned in fee has an individual Fair Market Value of at least
$10,000,000 (x) as of the Closing Date, for Real Property then so partially owned and partially leased or (y) the date of acquisition, for Real Property acquired after the Closing Date so partially owned and partially leased
(provided that such $10,000,000 threshold shall not be applicable in the case of Real Property that is integrally related to the ownership or operation of a Mortgaged Property or otherwise necessary for such Mortgaged Property to be in
compliance with all requirements of law applicable to such Mortgaged Property), and (iii) a mortgage in favor of the Collateral Agent (for the benefit of the Secured Parties) is permitted on such Real Property by applicable law and by the terms
of any lease, or other applicable document governing any leased portion of such Real Property, or with the consent of the applicable lessor or grantor (to the extent obtained after the applicable Loan Party has utilized commercially reasonable
efforts to obtain same). Notwithstanding the foregoing, the aggregate Fair Market Value of Real Property that is located in the United States and owned in fee by any Loan Party and that does not constitute Owned Real Property shall not exceed
$30,000,000 in the aggregate for all Loan Parties. 
 “Parent Entity” means, with respect to any Person, any corporation,
association, limited partnership, limited liability company or other entity which at the time of determination (a) owns or controls, directly or indirectly, more than 50% of the total voting power of shares of Capital Stock (without regard to
the occurrence of any contingency) entitled to vote in the election of directors, managers or trustees of such Person, (b) owns or controls, directly or indirectly, more than 50% of the capital accounts, distribution rights, total equity and
voting interests or general and limited partnership interests, as applicable, of such Person, whether in the form of membership, general, special or limited partnership interests or otherwise, or (c) is the controlling general partner of, or
otherwise controls, such entity. For the avoidance of doubt, Parent is a Parent Entity with respect to Borrower. 

  
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 “Participant” shall have the meaning assigned to such term in
Section 9.04(c)(i). 
 “Participant Register” shall have the meaning assigned to such term in
Section 9.04(c)(ii). 
 “Payment Date” shall have the meaning assigned to such term in
Section 2.10(a)(i). 
 “PBGC” shall mean the Pension Benefit Guaranty Corporation referred to and defined in
ERISA. 
 “Perfection Certificate” shall mean the Perfection Certificate with respect to the Borrower and the other Loan
Parties in a form reasonably satisfactory to the Administrative Agent, as the same may be supplemented from time to time to the extent required by Section 5.04(g). 

“Permitted Business Acquisition” shall mean any acquisition of all or substantially all the assets of, or all or
substantially all the Equity Interests (other than directors’ qualifying shares) in, or merger, consolidation or amalgamation with, a Person or division or line of business of a Person (or any subsequent investment made in a Person, division or
line of business previously acquired in a Permitted Business Acquisition), if immediately after giving effect thereto: (i) no Event of Default shall have occurred and be continuing or would result therefrom; (ii) the Total Leverage Ratio
immediately after giving effect to such transaction on a Pro Forma Basis shall be equal to or less than the Total Leverage Ratio calculated prior to giving effect to such transaction; (iii) all transactions related thereto shall be consummated
in accordance in all material respects with applicable laws; (iv) any acquired or newly formed Subsidiary shall not be liable for any Indebtedness except for Indebtedness not prohibited by Section 6.01; (v) to the extent
required by Section 5.10, any Person acquired in such acquisition, if acquired by a Loan Party, shall be merged into a Loan Party or become, following the consummation of such acquisition in accordance with Section 5.10, a
Loan Party and shall comply with the Collateral Requirement; and (vi) the aggregate amount of such acquisitions and investments in assets that are not owned by the Loan Parties or in Equity Interests in Persons that are not Loan Parties or do
not become Loan Parties following the consummation of such acquisition shall not in the aggregate exceed, together with all outstanding Investments made in Subsidiaries that are not Loan Parties pursuant to Section 6.04(b), the greater
of (x) 2.33% of Adjusted Total Assets and (y) $100,000,000. 
 “Permitted Business Judgment” shall mean, with
respect to any term or provision of this Agreement or the other Loan Documents, that requires the approval, satisfaction, discretion, determination, decision, action or inaction or any similar concept of or by an Agent, in each case, whether at the
request of the Borrower or otherwise, as applicable (collectively, an “Agent Action”), a determination made in good faith with respect to such Agent Action by such Agent in the exercise of its reasonable business judgment;
provided, that, at such Agent’s option, such Agent may confirm its authority to take such Agent Action, including after giving such consent, by (a) notifying all Lenders (or, with respect to an Agent Action relating solely to one
Facility, the Lenders under such Facility) via the Platform of the proposed Agent Action and (b) Lenders 

  
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constituting Required Lenders (or, with respect to an Agent Action relating solely to one Facility, the Majority Lenders under such Facility) consenting to such Agent Action in the manner
prescribed in the relevant Communication; provided, that if a Lender does not expressly provide its consent or does not expressly provide its lack of consent with respect to such Agent Action within five (5) Business Days of receiving
such Communication (or such shorter period set forth in this Agreement), then such Lender shall be deemed to have consented to such Agent Action. 

“Permitted Cure Securities” shall mean any equity securities of the Borrower issued pursuant to the Cure Right other than
Disqualified Stock. 
 “Permitted Investments” shall mean: 

(a) U.S. dollars, Canadian dollars, pounds sterling, euros, the national currency of any member state in the European Union or such local
currencies held by it from time to time in the ordinary course of business; 
 (b) direct obligations of the United States of America,
Canada, the United Kingdom or any member of the European Union or any agency thereof or obligations guaranteed by the United States of America, Canada or any member of the European Union or any agency thereof, in each case with maturities not
exceeding two years; 
 (c) time deposit accounts, certificates of deposit and money market deposits maturing within 180 days of the date of
acquisition thereof issued by a bank or trust company that is organized under the laws of the United States of America, any state thereof or any foreign country recognized by the United States of America having capital, surplus and undivided profits
in excess of $250.0 million and whose long-term debt, or whose parent holding company’s long-term debt, is rated A (or such similar equivalent rating or higher by at least one nationally recognized statistical rating organization (as defined in
Rule 436 under the Securities Act)); 
 (d) repurchase obligations with a term of not more than 180 days for underlying securities of the
types described in clause (b) above entered into with a bank meeting the qualifications described in clause (c) above; 
 (e)
commercial paper, maturing not more than one year after the date of acquisition, issued by a corporation (other than an Affiliate of the Borrower) organized and in existence under the laws of the United States of America or any foreign country
recognized by the United States of America with a rating at the time as of which any investment therein is made of P-1 (or higher) according to Moody’s, or A-1 (or higher) according to S&P (or such similar equivalent rating or higher by at
least one nationally recognized statistical rating organization (as defined in Rule 436 under the Securities Act)); 
 (f) securities with
maturities of two years or less from the date of acquisition issued or fully guaranteed by any State, commonwealth or territory of the United States of America, or by any political subdivision or taxing authority thereof, and rated at least A by
S&P or A by Moody’s (or such similar equivalent rating or higher by at least one nationally recognized statistical rating organization (as defined in Rule 436 under the Securities Act)); 

  
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 (g) shares of mutual funds whose investment guidelines restrict 95% of such funds’
investments to those satisfying the provisions of clauses (a) through (f) above; 
 (h) money market funds that (i) comply
with the criteria set forth in Rule 2a-7 under the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s, and (iii) have portfolio assets of at least $5,000.0 million; 

(i) instruments equivalent to those referred to in clauses (b) through (i) above denominated in any foreign currency comparable in
credit quality and tenor to those referred to above and commonly used by corporations for cash management purposes in any jurisdiction outside the United States to the extent reasonably required in connection with any business conducted by any
Subsidiary organized in such jurisdiction; and 
 (j) instruments in countries other than the United States customarily utilized for high
quality investments and in each case with maturities not exceeding two years from the date of acquisition. 
 “Permitted Junior
Intercreditor Agreement” shall mean, with respect to any Liens on Collateral that are intended to be junior to any Liens securing the Term B Loans (including, for the avoidance of doubt, junior Liens pursuant to
Section 2.21(b)(ii)), either (as the Borrower shall elect) (x) any Junior Lien Intercreditor Agreement if such Liens secure “Second Priority Claims” (as defined therein) or (y) another intercreditor agreement not
materially less favorable to the Lenders vis-à-vis such junior Liens than such Junior Lien Intercreditor Agreement (as determined by the Borrower in good faith); provided that such other intercreditor agreement shall have been posted to
Lenders on the Platform not less than five (5) Business Days prior to the date of execution thereof and the Required Lenders shall not have objected thereto in the manner set forth in the related Communication within such five (5) Business
Day period. 
 “Permitted Liens” shall have the meaning assigned to such term in Section 6.02. 

“Permitted Loan Purchase Assignment and Acceptance” shall mean an assignment and acceptance entered into by a Lender as an
Assignor and the Borrower as an Assignee, and accepted by the Administrative Agent, in the form of Exhibit F or such other form as shall be approved by the Administrative Agent and the Borrower (such approval not to be unreasonably withheld
or delayed). 
 “Permitted Loan Purchases” shall have the meaning assigned to such term in Section 9.04(i). 

“Permitted Mortgage Investment” means any Investment in secured notes, mortgage, deeds of trust, collateralized mortgage
obligations, commercial mortgage-backed securities, other secured debt securities, secured debt derivative or other secured debt instruments, so long as such investment relates directly or indirectly to a Similar Business. 

“Permitted Non-Recourse Guarantees” means the following indemnities and guarantees provided in the ordinary course of
business by the Borrower or any of its Subsidiaries for the benefit of lenders in financing transactions that are directly or indirectly secured by Real Property or other Real Property related assets (including Capital Stock) of a joint venture,

  
 49 

 
operator or Unrestricted Subsidiary and that may be full recourse or non-recourse to the joint venture, operator or Unrestricted Subsidiary that is the borrower in such financing, but is
otherwise nonrecourse to the Borrower and its Subsidiaries: (a) commercially reasonable environmental indemnities with respect to hazardous materials; (b) indemnities and limited contingent guarantees arising from “bad act”
recourse trigger provisions found in secured real finance transactions, including (x) indemnities for and liabilities arising from recourse triggers based on fraud or misrepresentation of the applicable obligor, misapplication or non-payment of
rents, profits, insurance and condemnation proceeds and other sums actually received by the obligor and required to be paid to the lender, (y) guarantees of all or a part of the related financing arising from recourse triggers based on
violations of transfer provisions, a voluntary bankruptcy filing (or similar filing or action) or involuntary bankruptcy filed in collusion with such obligor, and (z) indemnities and guarantees triggered by other events, actions and
circumstances customarily excluded by institutional lenders from exculpation provisions and/or included in separate indemnification agreements or carve-out guarantees in non-recourse financings of real estate; or (c) completion guarantees so
long as the joint venture, operator or Unrestricted Subsidiary, as applicable, is adequately capitalized based on industry standards and such completion guarantee is given with the intention of back-stopping such capitalization and not provided in
lieu of such capitalization. 
 “Permitted Pari Passu Intercreditor Agreement” shall mean, with respect to any Liens on
Collateral that are intended to be secured on a pari passu basis with the Liens securing the Term B Loans, either (as the Borrower shall elect) (x) the First Lien Intercreditor Agreement or (y) another intercreditor agreement not
materially less favorable to the Lenders vis-à-vis such pari passu Liens than the First Lien Intercreditor Agreement (as determined by the Borrower in good faith; provided, that such other intercreditor agreement shall have been posted
to Lenders on the Platform not less than five (5) Business Days prior to the date of execution thereof and the Required Lenders shall not have objected thereto in the manner set forth in the related Communication within such five
(5) Business Day period. 
 “Permitted Refinancing Indebtedness” shall mean any Indebtedness issued in exchange for,
to satisfy or the net proceeds of which are used to extend, refinance, renew, replace, defease, satisfy or refund (collectively, to “Refinance”), the Indebtedness being Refinanced (or previous refinancings thereof constituting
Permitted Refinancing Indebtedness) (and, in the case of revolving Indebtedness being Refinanced, to effect a corresponding reduction in the commitments with respect to such revolving Indebtedness being Refinanced); provided, that with
respect to any Indebtedness being Refinanced, (a) the principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so
Refinanced (plus unpaid accrued interest and premium (including tender premiums) thereon and underwriting discounts, costs, fees, commissions, expenses, plus an amount equal to any existing commitment utilized thereunder and letters of credit
undrawn thereunder), (b) except with respect to Sections 6.01(i) and 6.01(v) or any revolving facility or bridge facility, the weighted average life to maturity of such Permitted Refinancing Indebtedness is greater than or equal
to the shorter of (i) the weighted average life to maturity of the Indebtedness being Refinanced and (ii) the weighted average life to maturity that would result if all payments of principal on the Indebtedness being Refinanced that were
due on or after the date that is one year following the latest Term B Facility Maturity Date in effect on the date of incurrence were instead due on the date that is one year following 

  
 50 

 
such Term B Facility Maturity Date, (c) if the Indebtedness being Refinanced is subordinated in right of payment to the Loan Obligations under this Agreement, such Permitted Refinancing
Indebtedness shall be subordinated in right of payment to such Loan Obligations on terms in the aggregate not materially less favorable to the Lenders as those contained in the documentation governing the Indebtedness being Refinanced (as determined
by the Borrower in good faith), and (d) no Permitted Refinancing Indebtedness shall have greater guarantees than the Indebtedness being Refinanced unless such guarantee is otherwise permitted by Section 6.01 (other than
Section 6.01(a)(i)(B), 6.01(b)(ii), 6.01(h)(ii), 6.01(k)(ii), 6.01(l)(ii), 6.01(r)(ii), 6.01(s)(ii), 6.01(v)(ii), 6.01(x)(ii), 6.01(dd)(ii) and/or 6.01(ee)(ii)) at
such time of incurrence and (e) no Permitted Refinancing Indebtedness shall have greater security than the Indebtedness being Refinanced or to be secured by Liens ranking senior to the Liens securing the Indebtedness being Refinanced unless
such greater security is, or senior Liens are, expressly permitted by Section 6.02; provided further, that with respect to a Refinancing of Indebtedness permitted hereunder that is subordinated in right of payment, such
Permitted Refinancing Indebtedness shall be subordinated in right of payment to the guarantee by Subsidiary Loan Parties of the Loan Obligations, on terms (taken as a whole) not materially less favorable to the Lenders as those contained in the
documentation governing the Indebtedness being Refinanced (as determined by the Borrower in good faith) or on market terms (as determined by the Borrower in good faith). 

“Permitted Vessel Liens” shall mean: 

(i) Liens for seaman’s wages (including those of masters), maintenance, cure and stevedore’s wages; 

(ii) Liens for damages arising from maritime torts (including personal injury and death) which are unclaimed or covered by insurance (subject
to applicable deductibles); 
 (iii) Liens for general average and salvage, (iv) Liens for necessaries or otherwise arising by
operation of law in the ordinary course of business in operating, maintaining or repairing a Vessel; 
 (v) statutory Liens for current
Taxes or other governmental charges not required to be paid pursuant to Section 5.03; and 
 (vi) mechanics’,
carriers’, workers’, repairers’, and similar statutory or common law Liens arising or incurred in the ordinary course of business, 

in each case in the preceding clauses (i) through (vi), for amounts which are not overdue by more than 60 days or that are being
contested in good faith by appropriate proceedings and in respect of which, if applicable, the Borrower or any Subsidiary shall have set aside on its books reserves in accordance with GAAP. 

“Person” shall mean any natural Person, corporation, business trust, joint venture, association, company, partnership,
limited liability company or government, individual or family trusts, or any agency or political subdivision thereof. 

  
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 “Plan” shall mean any “employee pension benefit plan” (as such term is
defined in Section 3(2) of ERISA) other than a Multiemployer Plan that is, (i) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA and (ii) in respect of which the Borrower
maintains, contributes to, or has any liability (including any liability on account of any ERISA Affiliate). 
 “Plan of
Reorganization” shall have the meaning assigned to such term in the recitals hereof. 
 “Platform” shall mean any
electronic system, including e-mail, e-fax, Intralinks®, ClearPar®, Debt Domain, Syndtrak and any other Internet or extranet-based site
which the Lenders have access to, whether such electronic system is owned, operated or hosted by the Administrative Agent, any Agent Parties or any other Person, providing for access to data protected by passcodes or other security system. 

“Pledged Collateral” shall have the meaning assigned to such term in the Collateral Agreement. 

“Pledged Leasehold Interests” shall mean all leasehold estates held by the Loan Parties as lessee, other than Excluded
Leasehold Interests. 
 “Pre-Opening Expenses” means, with respect to any fiscal period, the amount of expenses (other than
interest expense) incurred with respect to capital projects which are classified as “pre-opening expenses” or “project opening costs” (or any similar or equivalent caption) on the applicable financial statements of the Borrower
and the Subsidiaries for such period, prepared in accordance with GAAP. 
 “Preferred Units” shall have the meaning
assigned to such term in the Partnership Agreement of the Borrower. 
 “Prepetition Agent” shall mean Credit Suisse AG,
Cayman Islands Branch, in its capacity as administrative agent and collateral agent for the lenders under the Prepetition Credit Agreement. 

“Prepetition Credit Agreement” shall have the meaning assigned to such term in the recitals. 

“Prepetition Credit Agreement Claims” shall have the meaning assigned to such term in the Plan of Reorganization. 

“Prepetition Lenders” shall mean the lenders party to the Prepetition Credit Agreement. 

“primary obligor” shall have the meaning given such term in the definition of the term “Guarantee.” 

“Prime Rate” shall mean the per annum rate of interest as announced from time to time by The Wall Street Journal as
the “prime rate” in effect in the United States (or, if The Wall Street Journal ceases quoting a base rate of the type described, either (a) the per annum rate of interest quoted as the base rate on such corporate loans in a different
national publication as selected by the Administrative Agent or (b) the highest per annum rate of interest published by the Federal Reserve Board in Federal Reserve statistical release H.15 (519) entitled “Selected Interest
Rates” as the Bank prime loan rate or its equivalent). 

  
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 “Pro Forma Basis” shall mean, as to any Person, for any events as described
below that occur subsequent to the commencement of a period for which the financial effect of such events is being calculated, and giving effect to the events for which such calculation is being made, such calculation as will give pro forma effect
to such events as if such events occurred on the first day of the four consecutive fiscal quarter period ended on or before the occurrence of such event (the “Reference Period”): (i) in making any determination on a Pro Forma
Basis, pro forma effect shall be given to any Asset Sale, acquisition, Investment, Capital Expenditure, construction, repair, replacement, improvement, development, disposition, merger, amalgamation, consolidation (or any similar transaction or
transactions not otherwise permitted under Section 6.04 or 6.05 that require a waiver or consent of the Required Lenders and such waiver or consent has been obtained), any dividend, distribution or other similar payment, any
designation of any Subsidiary as an Unrestricted Subsidiary and any Subsidiary Redesignation in accordance with the terms herein, New Project, the Transactions, and any restructurings of the business of the Borrower or any of its Subsidiaries that
the Borrower or any of its Subsidiaries has determined to make and/or made and are expected to have a continuing impact and are factually supportable, which would include cost savings resulting from head count reduction, closure of facilities and
similar operational and other cost savings, which adjustments the Borrower determines are reasonable as set forth in a certificate of a Financial Officer of the Borrower (the foregoing, together with any transactions related thereto or in connection
therewith, the “relevant transactions”), in each case that occurred during the Reference Period (or occurring during the Reference Period or thereafter and through and including the date upon which the respective Permitted Business
Acquisition or relevant transaction is consummated), (ii) in making any determination on a Pro Forma Basis, (x) all Indebtedness (including Indebtedness issued, incurred or assumed as a result of, or to finance, any relevant transactions
and for which the financial effect is being calculated, whether incurred under this Agreement or otherwise, but excluding normal fluctuations in revolving Indebtedness incurred for working capital purposes, in each case not to finance any
acquisition) issued, incurred, assumed or permanently repaid, repurchased or redeemed during the Reference Period (or occurring during the Reference Period or thereafter and through and including the date upon which the respective Permitted Business
Acquisition or relevant transaction is consummated) and shall be deemed to have been issued, incurred, assumed or permanently repaid, repurchased or redeemed at the beginning of such period and (y) Interest Expense of such Person attributable
to interest on any Indebtedness, for which pro forma effect is being given as provided in preceding clause (x), bearing floating interest rates shall be computed on a pro forma basis as if the rates that would have been in effect during the period
for which pro forma effect is being given had been actually in effect during such periods, and (z) with respect to each New Project which commences operations and records not less than one full fiscal quarter’s operations during the
Reference Period, the operating results of such New Project shall be annualized on a straight line basis during such period, and (iii) (A) any Subsidiary Redesignation then being designated in accordance with the terms herein, effect shall
be given to such Subsidiary Redesignation and all other Subsidiary Redesignations after the first day of the relevant Reference Period and on or prior to the date of the respective Subsidiary Redesignation then being designated, collectively, and
(B) any designation of a Subsidiary as an Unrestricted Subsidiary, effect shall be given to such designation and all other designations of Subsidiaries as Unrestricted Subsidiaries after the first day of the relevant Reference Period and on or
prior to the date of the then applicable designation of a Subsidiary as an Unrestricted Subsidiary, collectively. 

  
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 Pro forma calculations made pursuant to the definition of the term “Pro Forma
Basis” shall be determined in good faith by a Responsible Officer of the Borrower and may include, adjustments to reflect operating expense reductions and other operating improvements, synergies or cost savings reasonably expected to result
from such relevant pro forma event (including, to the extent applicable, the Transactions) (adjustments pursuant to this clause, “Pro Forma Operating Cost Savings and Synergies”), such amount, together with any adjustments or
increases to EBITDA for such period pursuant to the last paragraph of such definition, shall not exceed 2.50% of EBITDA for the last four fiscal quarters ending with the fiscal quarter most recently ended for which financial statements have
delivered to Lenders pursuant to Section 5.04(a) or 5.04(b) immediately preceding the date of the event for which pro forma effect is being given (calculated without giving effect to such Pro Forma Operating Savings and Synergies
and any increases to EBITDA for such period pursuant to the last paragraph of such definition). The Borrower shall deliver to the Administrative Agent a certificate of a Financial Officer of the Borrower setting forth such demonstrable or additional
operating expense reductions, other operating improvements, or synergies and adjustments pursuant to this paragraph above or cost savings and information and calculations supporting them in reasonable detail. 

For purposes of this definition, any amount in a currency other than Dollars will be converted to Dollars based on the average exchange rate
for such currency for the most recent twelve month period immediately prior to the date of determination in a manner consistent with that used in calculating EBITDA for the applicable period. 

“Pro Forma Compliance” shall mean, at any date of determination, that the Borrower and the Subsidiaries shall be in
compliance, on a Pro Forma Basis after giving effect on a Pro Forma Basis to the relevant transactions (including the assumption, the issuance, incurrence and permanent repayment of Indebtedness), with the Financial Performance Covenant recomputed
as at the last day of the most recently ended fiscal quarter of the Borrowers and the Subsidiaries for which the financial statements and certificates required pursuant to Section 5.04 have been or were required to have been delivered.

 “Project” shall mean (i) any and all buildings, structures, fixtures, construction, development and other
improvements of any nature to be constructed, added to, or made on, under or about any Real Property (exclusive of any personal property) with respect to which the cost of such construction, additions or development is at least equal to $50.0
million and (ii) any planning processes or preparatory steps undertaken to implement or further any such construction, additions or developments contemplated by the foregoing clause (i) of this definition (including, without limitation,
(a) the combination of two or more individual land parcels into one parcel, (b) the separation or division of one or more individual land parcels into two or more parcels, (c) the re-zoning of parcels, and (d) demolition work on
parcels). 
 “Project Financing” shall mean (1) any Capitalized Lease Obligation, mortgage financing, purchase money
Indebtedness or other similar Indebtedness incurred to finance the acquisition, lease, construction, repair, replacement, or improvement of any Undeveloped Land or any refinancing of any such Indebtedness and (2) any Sale and Lease-Back
Transaction of any Undeveloped Land. 

  
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 “Project Notice” shall mean a notice delivered by a Responsible Officer of the
Borrower pursuant to Section 5.11(a) identifying the applicable Mortgaged Property constituting Undeveloped Land, providing a reasonable description of the applicable Project that the Borrower anticipates in good faith will be undertaken
with respect to such Undeveloped Land and identifying the Project Financing to be entered into in connection with the financing of such Project. 

“Projections” shall mean the projections of the Borrower and the Subsidiaries and any forward-looking statements (including
statements with respect to booked business) of such entities furnished to the Lenders or the Administrative Agent by or on behalf of the Borrower or any of the Subsidiaries prior to the Closing Date. 

“PropCo” means VICI Properties L.P., a Delaware limited partnership and a direct Parent Entity of the Borrower. 

“PropCo Call Right Agreement” shall have the meaning assigned to such term in the Plan of Reorganization. 

“Proposed Discounted Prepayment Amount” shall have the meaning assigned to such term in Section 2.11(g)(ii). 

“Pro Rata Extension Offers” shall have the meaning assigned to such term in Section 2.21(e). 

“Public Lender” shall have the meaning assigned to such term in Section 9.17. 

“Purging Distribution” means the declaration or payment of any dividend or making of any distribution to distribute to the
holders of the Capital Stock of any Parent Entity of the Borrower any accumulated earnings and profits attributable to such Parent Entity as a result of such Parent Entity’s direct or indirect ownership of the Borrower for any years such Parent
Entity did not qualify as a REIT, including any earnings and profits allocated to such parent as a result of the Transactions. 

“Qualified Equity Interests” shall mean any Equity Interests of the Borrower other than Disqualified Stock. 

“Qualified IPO” shall mean an underwritten public offering of the Equity Interests of any Parent Entity which results in such
Equity Interests being listed on a national exchange. 
 “Qualified Non-Recourse Debt” shall mean Indebtedness that
(i) is (x) incurred by a Qualified Non-Recourse Subsidiary to finance (whether prior to or within 270 days after) the acquisition, lease, construction, repair, replacement or improvement of any new property (real or personal, whether
through the direct purchase of property or the Equity Interests of any person owning such property and whether in a single acquisition or a series of related acquisitions) or any Undeveloped Land or, to the extent owned by a Borrower or a Subsidiary
on the Closing 

  
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Date, any Real Property located outside the United States or (y) assumed by a Qualified Non-Recourse Subsidiary, (ii) is non-recourse to any Borrower and any Subsidiary (other than a
Qualified Non-Recourse Subsidiary or its Subsidiaries), and (iii) is non-recourse to any Subsidiary that is not a Qualified Non-Recourse Subsidiary. 

“Qualified Non-Recourse Subsidiary” shall mean (i) a Subsidiary that is not a Subsidiary Loan Party and that is formed
or created on or after the Closing Date in order to finance the acquisition, lease, construction, repair, replacement or improvement of any new property or any Undeveloped Land or, to the extent owned by a Borrower or a Subsidiary on the Closing
Date, any Real Property located outside the United States (directly or through one of its Subsidiaries) that secures Qualified Non-Recourse Debt incurred in respect of such property and (ii) any Subsidiary of a Qualified Non-Recourse
Subsidiary. 
 “Qualifying Lenders” shall have the meaning assigned to such term in Section 2.11(g)(iv). 

“Qualifying Loans” shall have the meaning assigned to such term in Section 2.11(g)(iv). 

“Real Estate Assets” of a Person means, as of any date, the Real Property assets of such Person and its Subsidiaries on such
date, on a consolidated basis determined in accordance with GAAP. 
 “Real Estate Revenues” means, with respect to any Real
Estate Asset of Borrower and its Subsidiaries owned as of the Closing Date, rental revenues (including, for the avoidance of doubt, earned income from direct financing leases) generated by such Real Estate Assets during the most recently completed
four fiscal quarters preceding the applicable determination date; provided that such rental revenues shall (x) exclude the non-cash portion of “straight-line” rental income, (y) include the cash received which exceeds the amount
recognized in respect of “straight-line” rental income, and (z) exclude direct financing lease adjustments; provided further, that (i) prior to the date on which financial statements have been furnished to Lenders pursuant to
Section 5.04 for the first full fiscal quarter beginning and ending following the Closing Date, Real Estate Revenues shall be $465.0 million; and (ii) following the date on which financial statements have been furnished to Lenders pursuant
to Section 5.04 for a full fiscal quarter beginning and ending following the Closing Date and prior to the time that financial statements have been furnished to Lenders pursuant to Section 5.04 for four full fiscal quarters beginning and
ending following the Closing Date, Real Estate Revenues shall be annualized based upon the Real Estate Revenues for the most recently ended full fiscal quarter or quarters following the Closing Date, as the case may be, for which financial
statements have been furnished to Lenders pursuant to Section 5.04 (e.g. following the date on which financial statements for the third full fiscal quarter following the Closing Date have been delivered to Lenders pursuant to
Section 5.04, Real Estate Revenues for the four full fiscal quarters shall be computed by dividing Real Estate Revenues for the three full fiscal quarters by 0.75). 

“Real Property” means, collectively, all right, title and interest (including any leasehold, mineral or other estate) in and
to any and all parcels of or interests in real property owned, leased or operated by any Person, whether by lease, license or other means, together with, in each case, all easements, hereditaments and appurtenances relating thereto, all buildings,
structures, parking areas and improvements and appurtenant fixtures and equipment, all general intangibles and contract rights and other property and rights incidental to the ownership, lease or operation thereof. 

  
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 “Reference Period” shall have the meaning assigned to such term in the
definition of the term “Pro Forma Basis.” 
 “Refinance” shall have the meaning assigned to such term in
the definition of the term “Permitted Refinancing Indebtedness,” “Refinancing” and “Refinanced” shall have a meaning correlative thereto. 

“Refinancing Amount” shall mean, in connection with any Refinancing of Indebtedness hereunder, the amount of Indebtedness
that is incurred to fund such Refinancing; provided that, the principal amount (or accreted value, if applicable) of such new Indebtedness does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so
Refinanced (plus unpaid accrued interest and premium (including tender premiums) thereon and underwriting discounts, defeasance costs, fees, commissions and expenses). 

“Refinancing Notes” shall mean any secured or unsecured notes or loans issued by any Loan Party (whether under an indenture,
a credit agreement or otherwise) and the Indebtedness represented thereby; provided, that (a) 100% of the Net Proceeds of such Refinancing Notes are used to permanently reduce Loans and/or replace Commitments substantially simultaneously
with the issuance thereof, (b) the final maturity date of such Refinancing Notes is on or after the Term Facility Maturity Date or the Revolving Facility Maturity Date, as applicable, of the Term Loans so reduced or the Revolving Facility
Commitments so replaced, (c) the weighted average life to maturity of such Refinancing Notes is greater than or equal to the weighted average life to maturity of the Term Loans so reduced or the Revolving Facility Commitments so replaced, as
applicable, (d) in the case of Refinancing Notes in the form of notes issued under an indenture, the terms thereof do not provide for any scheduled repayment, mandatory redemption or sinking fund obligations prior to the Term Facility Maturity
Date of the Term Loans so reduced or the Revolving Facility Maturity Date of the Revolving Facility Commitments so replaced, as applicable (other than customary offers to repurchase or mandatory prepayment provisions upon a change of control, asset
sale, event of loss or similar event and customary acceleration rights after an event of default), (e) the other terms of such Refinancing Notes (other than interest rates, fees, floors, funding discounts and redemption or prepayment premiums),
taken as a whole, on market terms, as determined by the Borrower in good faith, (f) there shall be no obligor in respect of such Refinancing Notes that is not a Loan Party, (g) Refinancing Notes shall not be secured by a Lien on any asset
of the Borrower or any of its Subsidiaries that is not Collateral and (h) Refinancing Notes that are secured by Liens on the Collateral shall be subject to (x) in the case of Refinancing Notes that are secured by Liens on the Collateral
that rank pari passu with the Liens on the Collateral securing the Obligations, the provisions of a Permitted Pari Passu Intercreditor Agreement or (y) in the case of Refinancing Notes that are secured by Liens on the Collateral that
rank junior in priority to the Liens on the Collateral securing the Obligations, a Permitted Junior Intercreditor Agreement. 

“Refinancing Term Loans” shall have the meaning assigned to such term in Section 2.21(j). 

  
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 “Register” shall have the meaning assigned to such term in
Section 9.04(b)(iv). 
 “Regulation T” shall mean Regulation T of the Board as from time to time in effect and
all official rulings and interpretations thereunder or thereof. 
 “Regulation U” shall mean Regulation U of the Board as
from time to time in effect and all official rulings and interpretations thereunder or thereof. 
 “Regulation X” shall
mean Regulation X of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof. 

“REIT” means a domestic trust or corporation that qualifies as a real estate investment trust under the provisions of
Sections 856 et seq. of the Code. 
 “Related Fund” shall mean, with respect to any Lender that is a fund that invests in
bank or commercial loans and similar extensions of credit, any other fund that invests in bank or commercial loans and similar extensions of credit and is advised or managed by (a) such Lender, (b) an Affiliate of such Lender, or
(c) an entity (or an Affiliate of such entity) that administers, advises or manages such Lender. 
 “Related Parties”
shall mean, with respect to any specified Person, such Person’s Affiliates and the respective directors, trustees, officers, employees, agents and advisors of such Person and such Person’s Affiliates. 

“Related Sections” shall have the meaning assigned to such term in Section 6.04. 

“Release” shall mean any spilling, leaking, seepage, pumping, pouring, emitting, emptying, discharging, injecting, escaping,
leaching, dumping, disposing, or depositing in, into, or onto the environment. 
 “Reorganized Debtors” shall have the
meaning assigned thereto in the Plan of Reorganization. 
 “Replacement L/C Issuer” means, with respect to any Replacement
Revolving Facility, any Replacement Revolving Lender thereunder from time to time designated by the Borrower as the Replacement L/C Issuer under such Replacement Revolving Facility with the consent of such Replacement Revolving Lender. 

“Replacement L/C Obligations” means, as at any date of determination with respect to any Replacement Revolving Facility, the
aggregate amount available to be drawn under all outstanding Replacement Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings, under such Replacement Revolving Facility. For all purposes of this
Agreement, if on any date of determination a Replacement Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Replacement Letter of Credit shall be deemed to
be “outstanding” in the amount so remaining available to be drawn. 

  
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 “Replacement Letter of Credit” means any letter of credit issued pursuant to a
Replacement Revolving Facility. 
 “Replacement Revolving Credit Percentage” means, as to any Replacement Revolving Lender
at any time under any Replacement Revolving Facility, the percentage which such Lender’s Replacement Revolving Facility Commitment under such Replacement Revolving Facility then constitutes of the aggregate Replacement Revolving Facility
Commitments under such Replacement Revolving Facility (or, at any time after such Replacement Revolving Facility Commitments shall have expired or terminated, the percentage which the aggregate amount of such Lender’s Replacement Revolving
Facility Credit Exposure then outstanding pursuant to such Replacement Revolving Facility constitutes of the amount of the aggregate Replacement Revolving Facility Credit Exposure then outstanding pursuant to such Replacement Revolving Facility).

 “Replacement Revolving Facility” shall mean each Class of Replacement Revolving Facility Commitments and the extensions
of credit made hereunder by the Replacement Revolving Lenders. 
 “Replacement Revolving Facility Credit Exposure” shall
mean, at any time, the sum of (a) the aggregate Outstanding Amount of the Replacement Revolving Loans at such time, (b) the Outstanding Amount of Replacement Swingline Loans at such time, and (c) the Outstanding Amount of the
Replacement L/C Obligations at such time. The Replacement Revolving Facility Credit Exposure of any Replacement Revolving Lender at any time shall be the product of (x) such Replacement Revolving Lender’s Replacement Revolving Credit
Percentage of the applicable Class and (y) the aggregate Replacement Revolving Facility Credit Exposure of such Class of all Replacement Revolving Lenders, collectively, at such time. 

“Replacement Revolving Facility Effective Date” shall have the meaning assigned to such term in Section 2.21(l).

 “Replacement Revolving Lender” shall have the meaning assigned to such term in Section 2.21(m). 

“Replacement Revolving Loans” shall have the meaning assigned to such term in Section 2.21(l). 

“Replacement Swingline Loans” means any swingline loan made to the Borrower pursuant to a Replacement Revolving Facility.

 “Replacement Vessel” shall mean any Documented Vessel acquired as a replacement, in any manner, of any existing
Mortgaged Vessel and subject to encumbrance in favor of the Security Trustee for the benefit of the Secured Parties pursuant to the terms of Section 5.10. 

“Reportable Event” shall mean, with respect to any Plan, any reportable event as defined in Section 4043(c) of ERISA or
the regulations issued thereunder, other than those events as to which the 30-day notice period referred to in Section 4043(c) of ERISA has been waived. 

  
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 “Required Lenders” shall mean, at any time, Lenders having Term Loans and
Commitments (and, if the Revolving Facility Commitments under any Revolving Facility have been terminated, Revolving Facility Credit Exposures under such Revolving Facility) that, taken together, represent more than 50% of the sum of all Term Loans
and Commitments (and, if the Revolving Facility Commitments have been terminated, Revolving Facility Credit Exposures) at such time. The Loans, Commitments and Revolving Facility Credit Exposures of any Defaulting Lender shall be disregarded in
determining Required Lenders at any time. 
 “Required Revolving Lenders” means, at any time, Revolving Facility Lenders
(other than Defaulting Lenders) having Revolving Facility Credit Exposures and unused Revolving Facility Commitments representing more than 50% of the aggregate Revolving Facility Credit Exposures and unused Revolving Facility Commitments at such
time. No Defaulting Lender shall be included in the calculation of Required Revolving Lenders. 
 “Required Prepayment
Date” shall have the meaning assigned to such term in Section 2.11(e). 
 “Requirement of Law” shall
mean, as to any Person, any law, treaty, rule, regulation, statute, order, ordinance, decree, judgment, consent decree, writ, injunction, settlement agreement or governmental requirement enacted, promulgated or imposed or entered into or agreed by
any Governmental Authority, in each case applicable to or binding upon such Person or any of its property or assets or to which such Person or any of its property or assets is subject (including any Gaming Laws). 

“Responsible Officer” of any Person shall mean any executive officer or Financial Officer of such Person and any other
officer or similar official thereof responsible for the administration of the obligations of such Person and, in the case of the Borrower, any executive officer or Financial Officer of its General Partner and any other officer or similar official
thereof responsible for the administration of the obligations in respect of this Agreement. 
 “Restricted Payments” shall
have the meaning assigned to such term in Section 6.06. The amount of any Restricted Payment made other than in the form of Permitted Investments shall be the Fair Market Value. 

“Revolving Facility” shall mean the Revolving Facility Commitments of any Class and the extensions of credit made hereunder
by the Revolving Facility Lenders of such Class and, for purposes of Section 9.08(b), shall refer to all such Revolving Facility Commitments as a single Class. 

“Revolving Facility Borrowing” shall mean a Borrowing comprised of Revolving Facility Loans of the same Class. 

“Revolving Facility Commitment” shall mean, with respect to each Revolving Facility Lender, the commitment of such Revolving
Facility Lender to make Revolving Facility Loans pursuant to Section 2.01(b), as such commitment may be (a) reduced from time to time pursuant to Section 2.08, (b) reduced or increased from time to time pursuant to
assignments by or to such Lender under Section 9.04, and (c) increased (or replaced) as provided under Section 2.21. The initial amount of each Lender’s Revolving Facility Commitment is set forth on Schedule
2.01, or 

  
 60 

 
in the Assignment and Acceptance or Incremental Assumption Agreement pursuant to which such Lender shall have assumed its Revolving Facility Commitment (or Incremental Revolving Facility
Commitment), as applicable. The aggregate amount of the Lenders’ Revolving Facility Commitments on the date hereof are $0.00. On the date hereof, there is only one Class of Revolving Facility Commitments. After the date hereof, additional
Classes of Revolving Facility Commitments may be added or created pursuant to Incremental Assumption Agreements in accordance with Section 2.21. 

“Revolving Facility Credit Exposure” shall mean, with respect to any Class of Revolving Facility Commitments, at any time,
the sum of (a) the aggregate Outstanding Amount of the Revolving Facility Loans of such Class at such time, (b) the Outstanding Amount of Swingline Loans of such Class at such time, and (c) the Outstanding Amount of the L/C
Obligations of such Class at such time. The Revolving Facility Credit Exposure of any Revolving Facility Lender under any Revolving Facility at any time shall be the product of (x) such Revolving Facility Lender’s Revolving Facility
Percentage under such Revolving Facility and (y) the aggregate Revolving Facility Credit Exposure under such Revolving Facility of all Revolving Facility Lenders, collectively, at such time. 

“Revolving Facility Lender” shall mean a Lender (including an Incremental Revolving Facility Lender) with a Revolving
Facility Commitment or with outstanding Revolving Facility Loans. 
 “Revolving Facility Loan” shall mean a Loan made by a
Revolving Facility Lender pursuant to Section 2.01(b) or Section 2.21 (including, for the avoidance of doubt, Revolving Loans, Replacement Revolving Loans, Extended Revolving Facility Commitments and/or Incremental Revolving
Facility Commitments as the context requires). 
 “Revolving Facility Maturity Date” shall mean, with respect to any
Classes of Revolving Facility Commitments, the maturity dates specified therefor in the applicable Incremental Assumption Agreement. 

“Revolving Facility Percentage” shall mean, with respect to any Revolving Facility Lender of any Class, the percentage of the
total Revolving Facility Commitments of such Class represented by such Lender’s Revolving Facility Commitment of such Class. If the Revolving Facility Commitments of such Class have terminated or expired, the Revolving Facility Percentages of
such Class shall be determined based upon the Revolving Facility Commitments of such Class most recently in effect, giving effect to any assignments pursuant to Section 9.04. 

“Revolving Loan” shall mean a Revolving Facility Loan made pursuant to any Incremental Revolving Facility Commitment in
accordance with Section 2.21. 
 “Right of First Refusal Agreement” shall have the meaning assigned to such
term in the Plan of Reorganization. 
 “S&P” shall mean Standard & Poor’s Ratings Group, Inc. 

“Sale and Lease-Back Transaction” shall have the meaning assigned to such term in Section 6.03. 

  
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 “Same Day Funds” means with respect to disbursements and payments in Dollars,
immediately available funds. 
 “SEC” shall mean the Securities and Exchange Commission or any successor thereto. 

“Second Lien Obligations” shall mean the “Second Lien Obligations” as defined in the Second Priority Senior Secured
Notes Indenture. 
 “Second Priority Senior Secured Notes” shall mean the $[1,758,000,000] in aggregate principal amount of
the 8.00% Second Priority Senior Secured Notes due 2023 issued pursuant to the Second Priority Senior Secured Notes Indenture and any notes issued by the Borrower in exchange for, and as contemplated by, the Second Priority Senior Secured Notes and
the related registration rights agreement with substantially identical terms as the Second Priority Senior Secured Notes. 
 “Second
Priority Senior Secured Notes Indenture” shall mean the Indenture, dated as of [            ], among the Borrower and as VICI FC Inc., each as an issuer, the subsidiary guarantors
party thereto from time to time and UMB Bank National Association, as trustee. 
 “Secured Cash Management Agreement” shall
mean any Cash Management Agreement that is entered into by and between any Loan Party and any Cash Management Bank to the extent that such Cash Management Agreement is designated in writing by the Borrower and the applicable Cash Management Bank to
the Administrative Agent as a Secured Cash Management Agreement. 
 “Secured Swap Agreement” shall mean any Swap Agreement
that is entered into by and between any Loan Party and any Hedge Bank to the extent that such Swap Agreement is designated in writing by the Borrower and the applicable Hedge Bank to the Administrative Agent to be included as a Secured Swap
Agreement. Notwithstanding the foregoing, for all purposes of the Loan Documents, any Guarantee of, or grant of any Lien to secure, any obligations in respect of a Secured Swap Agreement by a Loan Party shall not include any Excluded Swap
Obligations. 
 “Secured Parties” shall mean, collectively, the Administrative Agent, the Collateral Agent, each Lender,
each L/C Issuer, each Hedge Bank that is party to any Secured Swap Agreement, each Cash Management Bank that is party to any Secured Cash Management Agreement and each sub-agent appointed pursuant to Section 8.02 by the Administrative
Agent with respect to matters relating to the Loan Documents or by the Collateral Agent with respect to matters relating to any Security Document. 

“Securities Act” shall mean the Securities Act of 1933, as amended, modified, or supplemented from time to time. 

“Security Documents” shall mean the Mortgages, the Ship Mortgages, the Collateral Agreement, the IP Security Agreements (as
defined in the Collateral Agreement), the Earnings Assignments, the Insurance Assignments and each of the security agreements and other instruments and documents executed and delivered pursuant to any of the foregoing or pursuant to
Section 4.02 or 5.10. 

  
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 “Security Trustee” shall mean Wilmington Trust, National Association acting as
security trustee for the Secured Parties pursuant to Section 8.01(c). 
 “Senior Secured Leverage Ratio” means,
on any date, the ratio of (a) Total First Lien Senior Secured Debt as of the last day of the Test Period most recently ended as of such date to (b) EBITDA for such period, all determined on a combined or consolidated basis in accordance
with GAAP; provided, that the Senior Secured Leverage Ratio shall be determined for the relevant Test Period on a Pro Forma Basis. 

“Series A Preferred Redeeming Subordinated Debt” means, solely to the extent any Series A Preferred Units or Series A
Preferred Shares remain outstanding following the twentieth (20th) Business Day after the Closing Date, Indebtedness issued in exchange for, and in satisfaction of, the Series A Preferred Units or Series A Preferred Shares at the election of
the holders thereof in connection with, and as a result of, a default under the respective governing documents of the Series A Preferred Units or the Series A Preferred Shares, as the case may be; provided that (i) payments with respect to such
Indebtedness are subordinated to the prior payment in full in cash of the Term B Loan pursuant to a subordination agreement reasonably acceptable to the Administrative Agent acting at the direction of the Required Lenders, (ii) such
Indebtedness is either (x) unsecured or (y) secured by Liens on the Collateral that rank junior to the Liens on the Collateral securing the Loan Obligations pursuant to the terms of the Permitted Junior Intercreditor Agreement,
(iii) the terms of such Indebtedness do not provided for any schedule repayment, mandatory redemption or sinking fund obligations prior to the date that is ninety-one (91) days following the latest Term B Facility Maturity Date in effect
on the date of incurrence (other than customary offers to repurchase upon a change of control, asset sale or event of loss or similar events and customary acceleration rights after an event of default subject to the applicable intercreditor
agreement) and (iv) the aggregate principal amount of such Indebtedness does not exceed an amount equal to the number of Series A Preferred Units or Series A Preferred Shares, as applicable, in respect of which the holders thereof have elected
to receive such Indebtedness multiplied by a price per share equal to the original issue price thereof plus any accumulated and accrued dividends in respect thereof. 

“Series A Preferred Shares” means shares of the preferred stock of Parent, issued by Parent pursuant to certain Articles
Supplementary for Series A Convertible Preferred Stock, dated as of the Closing Date, as may be amended, restated, replaced, supplemented, waived and/or modified from time to time. 

“Series A Preferred Units” means the limited partnership units of PropCo, issued by PropCo pursuant to a Certificate of
Designation for Series A Convertible Preferred Units, dated as of the Closing Date, as may be amended, restated, replaced, supplemented, waived and/or modified from time to time. 

“Ship Mortgage” shall mean a first preferred mortgage over a Documented Vessel or an Additional Ship Mortgage substantially
in the form of Exhibit E-2 (with such changes to account for local law matters as determined by the Borrower in good faith) made by the applicable Loan Party in favor of the Security Trustee for the benefit of the Secured Parties, as the same
may be amended, supplemented or otherwise modified from time to time, and upon recording with the NVDC, effective to grant in favor of the Security Trustee for the benefit of the Secured Parties a perfected first preferred mortgage within the
meaning of the Ship Mortgage Act on the Mortgaged Vessel covered thereby, subject only to Permitted Liens. 

  
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 “Ship Mortgage Act” shall mean the Ship Mortgage Act of 1920, as amended,
modified, or supplemented from time to time, recodified at 46 U.S.C. § 31301 et seq. 
 “Similar Business” means any
business conducted or proposed to be conducted by the Borrower and its Subsidiaries as of the Closing Date and any extension, development or expansion thereof or any business or activity that is similar, reasonably related, complementary, incidental
or ancillary thereto (including investments in secured notes, mortgages, deeds of trust, collateralized mortgage obligations, commercial mortgage-backed securities, other secured debt securities, secured debt derivatives or other secured debt
instruments). 
 “Spot Rate” for a currency shall mean the rate determined by the Administrative Agent or the L/C Issuer,
as applicable, to be the rate quoted by the Person acting in such capacity as the spot rate for the purchase by such Person of such currency with another currency through its principal foreign exchange trading office at approximately 11:00 a.m.,
Central Time on the date two Business Days prior to the date as of which the foreign exchange computation is made or if such rate cannot be competed as of such date such other date as the Administrative Agent or the L/C Issuer shall reasonably
determine is appropriate under the circumstances; provided that the Administrative Agent or the L/C Issuer may obtain such spot rate from another financial institution designated by the Administrative Agent or the L/C Issuer if the Person
acting in such capacity does not have as of the date of determination a spot buying rate for any such currency. 
 “Statutory
Reserves” shall mean the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board and any other banking authority, domestic or
foreign, to which the Administrative Agent or any Lender (including any branch, Affiliate or other fronting office making or holding a Loan) is subject for Eurocurrency Liabilities (as defined in Regulation D of the Board). Eurodollar Loans shall be
deemed to constitute Eurocurrency Liabilities (as defined in Regulation D of the Board) and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any
Lender under such Regulation D. Statutory Reserves shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 

“Subordinated Intercompany Debt” shall have the meaning assigned to such term in Section 6.01(e). 

“subsidiary” shall mean, with respect to any Person (herein referred to as the “parent”), any corporation,
partnership, association or other business entity (a) of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or more than 50% of the general partnership interests
are, at the time any determination is being made, directly or indirectly, owned, Controlled or held, or (b) that is, at the time any determination is made, otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the
parent and one or more subsidiaries of the parent. 

  
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 “Subsidiary” shall mean, unless the context otherwise requires, a subsidiary of
the Borrower. Notwithstanding the foregoing (and except for purposes of the definition of Unrestricted Subsidiary contained herein), an Unrestricted Subsidiary shall be deemed not to be a Subsidiary of the Borrower or any of its Subsidiaries for
purposes of this Agreement. 
 “Subsidiary Guarantee Agreement” shall mean the Subsidiary Guarantee Agreement substantially
in the form of Exhibit P, dated as of the Closing Date, by and between each Subsidiary Loan Party and the Collateral Agent, as amended, modified, waived or supplemented from time to time. 

“Subsidiary Loan Party” shall mean (a) each Domestic Subsidiary of the Borrower on the Closing Date that is set forth on
Schedule 1.01(B) and (b) each other Domestic Subsidiary of the Borrower that is not an Excluded Subsidiary that becomes, or is required pursuant to Section 5.10 to become, a party to the Subsidiary Guarantee Agreement and the
Collateral Agreement after the Closing Date. 
 “Subsidiary Redesignation” shall have the meaning provided in the
definition of “Unrestricted Subsidiary” contained in this Section 1.01. 
 “Swap Agreement” shall
mean any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or
economic, financial or pricing indices or measures of economic, financial or pricing risk or value, or credit spread transaction, repurchase transaction, reserve repurchase transaction, securities lending transaction, weather index transaction, spot
contracts, fixed price physical delivery contracts, or any similar transaction or any combination of these transactions, in each case of the foregoing, whether or not exchange traded; provided, that no phantom stock or similar plan providing
for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrower or any of the Subsidiaries shall be a Swap Agreement. 

“Swap Obligation” means, with respect to any Guarantor, any obligation to pay or perform under any agreement, contract or
transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act. 

“Swingline Borrowing” shall mean a Borrowing comprised of Swingline Loans. 

“Swingline Borrowing Request” shall mean a written request by the borrower substantially in the form of Exhibit C.

 “Swingline Commitment” shall mean, with respect to each Swingline Lender, the commitment of such Swingline Lender to
make Swingline Loans pursuant to Section 2.04 from time to time. The aggregate amount of the Swingline Commitments on the Closing Date is $0.00. The Swingline Commitment is part of, and not in addition to, the Revolving Facility
Commitments. 

  
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 “Swingline Lender” shall mean any Swingline Lender designated pursuant to
Section 2.04(g), in each case in its capacity as a lender of Swingline Loans hereunder and its successors in such capacity. In the event that there is more than one Swingline Lender at any time, references herein and in the other Loan
Documents to the Swingline Lender shall be deemed to refer to the Swingline Lender in respect of the applicable Swingline Loan or to all Swingline Lenders, as the context requires. 

“Swingline Loans” shall mean the swingline loans made to the Borrower pursuant to Section 2.04. 

“Tax Distributions” means an amount equal to the amount of distributions actually made to any Parent Entity pursuant to
Section 6.06(n). 
 “Taxes” shall mean all present or future taxes, levies, imposts, duties (including stamp duties),
deductions, withholdings or similar charges (including ad valorem charges) imposed by any Governmental Authority, and all interest, additions to tax and penalties related thereto. 

“Tenant Financial Statements” shall mean the quarterly and audited annual financial statements delivered pursuant to the
Lease Agreements. 
 “Term B Borrowing” shall mean any Borrowing comprised of Term B Loans. 

“Term B Facility” shall mean the Term B Loan Commitment and the Term B Loans made hereunder. 

“Term B Facility Maturity Date” shall mean [            ]1. 
 “Term B Loan Commitment” shall mean, with respect to each Lender, the
commitment of such Lender to make Term B Loans hereunder. The amount of each Lender’s Term B Loan Commitment as of the Closing Date is set forth on Schedule 2.01. The aggregate amount of the Term B Loan Commitments as of the Closing Date
is $[1,961,000,000]. 
 “Term B Loan Installment Date” shall have the meaning assigned to such term in Section
2.10(a)(i). 
 “Term B Loans” shall mean (a) Term B-1 Loans and (b) any Incremental Term Loans in the form of
Term B Loans made by the Incremental Term Lenders to the Borrower pursuant to Section 2.01(c). 
 “Term B-1
Loans” shall have the meaning set forth in Section 2.01(a). 
 “Term Borrowing” shall mean any Term B
Borrowing or any Incremental Term Borrowing. 
 “Term Facility” shall mean the Term B Facility and/or any or all of the
Incremental Term Facilities. 
 “Term Facility Maturity Date” shall mean, as the context may require, (a) with respect
to the Term B Facility in effect on the Closing Date, the Term B Facility Maturity Date and (b) with respect to any other Class of Term Loans, the maturity dates specified therefor in the applicable Incremental Assumption Agreement. 

 

	1 	 The date that is five (5) years after the Closing Date.

  
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 “Term Loan Commitment” shall mean any Term B Loan Commitment or any Incremental
Term Loan Commitment. 
 “Term Loan Installment Date” shall mean any Term B Loan Installment Date or any Incremental Term
Loan Installment Date. 
 “Term Loans” shall mean the Term B Loans, Other Term Loans, Extended Term Loans, Refinancing Term
Loans, and/or any or all of the Incremental Term Loans, as the context requires. 
 “Termination Date” shall mean the date
on which (a) all Commitments shall have been terminated, (b) the principal of and interest on each Loan, all Fees and all other Loan Obligations shall have been paid in full in cash (other than in respect of contingent indemnification and
expense reimbursement claims not then due), and (c) all Letters of Credit (other than those that have been Cash Collateralized) have been cancelled or have expired and all amounts drawn or paid thereunder have been reimbursed in full in cash.

 “Test Period” shall mean, on any date of determination, the period of four consecutive fiscal quarters of the Borrower
then most recently ended (taken as one accounting period) for which financial statements have been delivered to Lenders pursuant to Section 5.04(a) or 5.04(b). 

“Total Assets” means, for any Person as of any date of determination, the sum of: (i) in the case of any Real Estate
Assets that were owned by such Person or any of its Subsidiaries as of the Issue Date, the Real Estate Revenues for such Real Estate Assets, divided by 0.0900, plus (ii) the cost (original cost plus capital improvements before depreciation and
amortization) of all Real Estate Assets acquired after the Closing Date that are then owned by such Person or any of its Subsidiaries, plus (iii) the book value of all assets (excluding Real Estate Assets, intangibles and goodwill) of such
Person and its Subsidiaries on a consolidated basis determined in accordance with GAAP as of the end of the most recently completed fiscal quarter for which financial statements have been delivered to Lenders pursuant to Section 5.04(a)
or 5.04(b); provided, that at any time before financial statements have been delivered to Lenders pursuant to Section 5.04(a) or 5.04(b) for the first full fiscal quarter ending after the Closing Date, the book value of all
assets (excluding Real Estate Assets, intangibles and goodwill) of such Person and its Subsidiaries on a consolidated basis shall be $45.0 million. 

“Total First Lien Senior Secured Debt” at any date shall mean the aggregate principal amount of Consolidated Debt of the
Borrower and the Subsidiaries outstanding at such date that consists of, without duplication, Indebtedness that in each case is then secured by first-priority Liens on Collateral of the Borrower or the Subsidiaries (other than property or assets
held in defeasance or similar trust or arrangement for the benefit of Indebtedness secured thereby). 
 “Total Leverage
Ratio” shall mean, on any date, the ratio of (a) the aggregate principal amount of Consolidated Debt of the Borrower and its Subsidiaries outstanding as of the last day of the Test Period most recently ended on or prior to such date,
to (b) EBITDA for such period, all determined on a combined or consolidated basis in accordance with GAAP; provided that the Total Leverage Ratio shall be determined for the relevant Test Period on a Pro Forma Basis. 

  
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 “Total Secured Leverage Ratio” shall mean, on any date, the ratio of
(a) Total Senior Secured Debt as of the last day of the Test Period most recently ended on or prior to such date to (b) EBITDA for such period, all determined on a combined or consolidated basis in accordance with GAAP; provided
that the Total Secured Leverage Ratio shall be determined for the relevant Test Period on a Pro Forma Basis. 
 “Total Senior
Secured Debt” at any date shall mean the aggregate principal amount of Consolidated Debt of the Borrower and the Subsidiaries outstanding at such date that consists of, without duplication, Indebtedness that in each case is then secured by
Liens on Collateral of the Borrower or the Subsidiaries (other than property or assets held in defeasance or similar trust or arrangement for the benefit of Indebtedness secured thereby). 

“Transaction Documents” shall mean the Loan Documents, the First Priority Senior Secured Notes and the First Priority Senior
Secured Notes Indenture, the Second Priority Senior Secured Notes and the Second Priority Senior Secured Notes Indenture. 

“Transaction Expenses” shall mean any fees or expenses incurred or paid by the Borrower or any of its Subsidiaries or any of
their Affiliates in connection with the Transactions, this Agreement and the other Loan Documents, the First Priority Senior Secured Notes and the First Priority Senior Secured Notes Indenture, the Second Priority Senior Secured Notes and the Second
Priority Senior Secured Notes Indenture and the transactions contemplated hereby and thereby. 
 “Transactions” shall mean,
collectively, (a) the execution, delivery and performance of this Agreement, the other Loan Documents and the Transaction Documents, the creation of the Liens pursuant to the Security Documents, and the borrowings and other extensions of credit
hereunder, (b) the sale and issuance of the First Priority Senior Secured Notes and the Second Priority Senior Secured Notes and the transactions contemplated thereby, (c) the payment of all fees and expenses in connection therewith to be
paid on, prior or subsequent to the Closing Date, (d) the Purging Distribution, (e) the formation of the Borrower and its Subsidiaries and the transfer of assets to the Borrower and its Subsidiaries as contemplated by the Plan of
Reorganizations, (f) the execution, delivery and performance of the Master Lease, the Management and Lease Support Agreement and any real estate management agreements, (g) the initial Purging Distribution, (h) the mergers,
amalgamations, consolidations, arrangements, continuances, restructurings, transfers, conversions, dispositions, liquidations, dissolutions or other corporate transactions, including the Lease Agreements and the Management and Lease Support
Agreement that the Debtors, the Reorganized Debtors, the Borrower, or any other Affiliate non-Debtors, as applicable, determine to be necessary or appropriate to implement the Plan of Reorganization, including, without limitation, the restructuring
of the Borrower’s obligations under the Prepetition Credit Agreement on the Effective Date and any other transaction referred to in or contemplated by the Plan of Reorganization, and (i) in each case, the other transactions contemplated by
or entered into in connection therewith. 

  
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 “Type” shall mean, when used in respect of any Loan or Borrowing, the rate by
reference to which interest on such Loan or on the Loans comprising such Borrowing is determined. For purposes hereof, the term “Rate” shall include the Adjusted Eurocurrency Rate and the ABR. 

“Undeveloped Land” shall mean all Real Property set forth on Schedule 1.01(C). 

“Unfunded Pension Liability” shall mean, as of the most recent valuation date for the applicable Plan, the excess of
(1) the Plan’s benefit liabilities under Section 4001(a)(16) of ERISA (determined in accordance with the assumptions used for funding that Plan pursuant to Section 412 of the Code or Section 302 of ERISA) of its benefit
liabilities (as defined in Section 4001(a)(16) of ERISA) over (2) the current value of the assets of such Plan. 

“Uniform Commercial Code” shall mean the Uniform Commercial Code as the same may from time to time be in effect in the State
of New York or the Uniform Commercial Code (or similar code or statute) of another jurisdiction, to the extent it may be required to apply to any item or items of Collateral. 

“United States Person” shall mean a United States person within the meaning of Section 7701(a)(3) of the Code. 

“Unreimbursed Amount” shall have the meaning assigned to such term in Section 2.05(c). 

“Unrestricted Subsidiary” shall mean (1) each CPLV Entity, (2) any subsidiary of an Unrestricted Subsidiary and
(3) any other Subsidiary of the Borrower, whether now owned or acquired or created after the Closing Date, that is acquired or created to acquire, develop, finance, own, maintain, lease, operate and/or manage Undeveloped Land and the Projects
constructed thereon, and designated by the Borrower as an Unrestricted Subsidiary hereunder after the Closing Date by written notice to the Administrative Agent (a “Development Unrestricted Subsidiary”); provided, that, in
each case of clauses (1), (2) and (3), (a) the Borrower shall only be permitted to so designate a new Unrestricted Subsidiary after the Closing Date so long as no Event of Default under Section 7.01(b), (c),
(h) or (i) has occurred and is continuing or would result therefrom, (b) any Investments made by the Borrower or any Subsidiary in such Unrestricted Subsidiary shall be subject to compliance with, and must be permitted
by, Section 6.04, (c) any assets owned by Unrestricted Subsidiaries at the time of the initial designation thereof shall be treated as an Investment that must comply with Section 6.04, and (d) such Subsidiaries
shall have been or will promptly be designated an “unrestricted subsidiary” (or otherwise not be subject to the covenants) under the First Priority Senior Secured Notes Indenture, the Second Priority Senior Secured Notes Indenture and all
Permitted Refinancing Indebtedness in respect thereof constituting Material Indebtedness. Unrestricted Subsidiaries shall not at the time of designation, and shall not thereafter, create, incur, issue, assume, guarantee or otherwise become liable
with respect to any Indebtedness pursuant to which any lender or creditor has recourse to any of the assets of the Borrower or any Subsidiary, other than Permitted Non-Recourse Guarantees that have been incurred in compliance with Sections 6.01
and 6.04. 

  
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 The Borrower may designate any Unrestricted Subsidiary to be a Subsidiary for purposes of this
Agreement (each, a “Subsidiary Redesignation”); provided, that (i) no Event of Default has occurred and is continuing or would result therefrom and (ii) the Borrower shall have delivered to the Administrative Agent
an officer’s certificate executed by a Responsible Officer of the Borrower, certifying to the best of such officer’s knowledge, compliance with the requirements of preceding clause (i). As of the Closing Date, the only Unrestricted
Subsidiaries of the Borrower or its Subsidiaries are those entities identified on Schedule 1.01(D) hereto. 
 “U.S.
Bankruptcy Code” shall mean Title 11 of the United States Code, as amended, modified, or supplemented from time to time, or any similar federal or state law for the relief of debtors. 

“USA PATRIOT Act” shall mean the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001 (Title III of Pub. L. No. 107-56 (signed into law October 26, 2001)). 
 “Venue
Documents” shall have the meaning assigned to such term in Section 6.05(p). 
 “Venue Easements” shall
have the meaning assigned to such term in Section 6.05(p). 
 “Vessel” shall mean (i) any vessel, boat,
ship, catamaran, riverboat, or barge of any kind or nature whatsoever, whether or not temporarily or permanently moored or affixed to any real property, and includes its engines, machinery, boats, boilers, masts, rigging, anchors, chains, cables,
apparel, tackle, outfit, spare gear, fuel, consumable or other stores, freights, belongings and appurtenances, whether on board or ashore, whether now owned or hereafter acquired, and all additions, improvements and replacements hereafter made in or
to said vessel, or any part thereof, or in or to the stores, belongings and appurtenances aforesaid, (ii) any improvement to real property which is used or susceptible of use as a dockside, riverboat or water-based venue for business
operations, (iii) any property which is a vessel within the meaning given to that term in 1 U.S.C. § 3, and (iv) any property which would be a vessel within the meaning of that term as defined in 1 U.S.C. § 3 but for its removal
from navigation for use in gaming or other business operations and/or any modifications made thereto to facilitate dockside gaming or other business operations which may affect its seaworthiness, and, in each case, all appurtenances thereof.2 
 “Vessel Applicable Laws” shall have the meaning assigned to such term
in Section 9.23. 
 “Vessel Related Collateral” shall have the meaning assigned to such term in
Section 9.23. 
 “Waivable Mandatory Prepayment” shall have the meaning assigned to such term in
Section 2.11(e). 
 “Wholly-Owned Domestic Subsidiary” of any Person shall mean a Domestic Subsidiary of such
Person that is a Wholly-Owned Subsidiary. 
 “Wholly-Owned Subsidiary” of any Person shall mean a subsidiary of such
Person, all of the Equity Interests of which (other than directors’ qualifying shares or nominee or other similar shares required pursuant to applicable law) are owned by such Person or another Wholly-Owned Subsidiary of such Person. 

 

	2 	 Scope of vessel definition to be discussed, including with respect to the IRS determination.

  
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 “Withdrawal Liability” shall mean liability to a Multiemployer Plan as a result
of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

“Write-Down and Conversion Powers” shall mean, with respect to any EEA Resolution Authority, the write-down and conversion
powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 

Section 1.02 Terms Generally. The definitions set forth or referred to in Section 1.01 shall apply equally to both the
singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall
be deemed to be followed by the phrase “without limitation.” All references to “knowledge” or “awareness” of any Loan Party or any Subsidiary thereof means the actual knowledge of a Responsible Officer of such Loan
Party or such Subsidiary. All references to the “weighted average life to maturity” of Indebtedness shall mean the weighted average life to maturity calculated without giving effect to any prepayment of such Indebtedness. All references to
“in the ordinary course of business” of the Borrower or any Subsidiary thereof means (i) in the ordinary course of business of, or in furtherance of an objective that is in the ordinary course of business of the Borrower or such
Subsidiary, as applicable, (ii) customary and usual in the industry or industries of the Borrower and its Subsidiaries in the United States or any other jurisdiction in which the Borrower or any Subsidiary does business, as applicable, or
(iii) generally consistent with the past or current practice of the Borrower or such Subsidiary, as applicable, or any similarly situated businesses in the United States or any other jurisdiction in which the Borrower or any Subsidiary does
business, as applicable. All references herein to Articles, Sections, Exhibits and Schedules shall be deemed references to Articles and Sections of, and Exhibits and Schedules to, this Agreement unless the context shall otherwise require. Except as
otherwise expressly provided herein, any reference in this Agreement to any agreement, instrument or other document shall mean such document, instrument or agreement as amended, restated, amended and restated, supplemented, extended, restructured,
replaced, defeased, waived or otherwise modified from time to time (including pursuant to any permitted refinancing, extension, renewal, replacement, restructuring or increase, but subject to any restrictions on such amendments, supplements or
modifications set forth herein). Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided, that, if the Borrower notifies the
Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the Closing Date in GAAP or in the application thereof on the operation of such provision (or if the
Administrative Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof,
then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. Each
Agent Action, or proposed Agent Action, shall be determined by the relevant Agent in its Permitted Business Judgment. 

  
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 Section 1.03 Effectuation of Transactions. Each of the representations and warranties
of the Borrower contained in this Agreement (and all corresponding definitions) are made after giving effect to the Transactions as shall have taken place on or prior to the date of determination, unless the context otherwise requires. 

Section 1.04 Exchange Rates; Currency Equivalents. 

(a) Except for purposes of financial statements delivered by Loan Parties hereunder or calculating financial covenants hereunder or except as
otherwise provided herein, the applicable amount of any currency (other than Dollars) for purposes of the Loan Documents shall be such Dollar Equivalent amount as so determined by the Administrative Agent or the L/C Issuer, as applicable. No Default
or Event of Default shall arise as a result of any limitation or threshold set forth in Dollars in Article VI or Section 7.01 being exceeded solely as a result of changes in currency exchange rates from those rates applicable on the
first day of the fiscal quarter in which such determination occurs or in respect of which such determination is being made. 

Section 1.05 Times of Day. Unless otherwise specified, all references herein to times of day shall be references to Central Time.

 Section 1.06 Timing of Payment or Performance. Except as otherwise expressly provided herein, when the payment of any
obligation or the performance of any covenant, duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such payment or performance shall extend to the immediately succeeding Business Day. 

Section 1.07 Financial Ratios. Any financial ratios required to be maintained by the Borrower pursuant to this Agreement (or
required to be satisfied in order for a specific action to be permitted under this Agreement) shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which
such ratio is expressed herein and rounding the result up or down to the nearest number. For so long as any Person is failing to comply with the requirements of Section 5.04(a) or (b), such Person shall be deemed not able to satisfy any
applicable financial ratio test or condition set forth herein. 
 Section 1.08 Compliance with Certain Sections. For purposes of
determining compliance with Article VI, in the event that any Lien, Investment, Indebtedness (whether at the time of incurrence or upon application of all or a portion of the proceeds thereof), disposition, Restricted Payment, Affiliate transaction,
contractual requirement, or prepayment of Indebtedness meets the criteria of one, or more than one, of the “baskets” or categories of transactions then permitted pursuant to any clause or subsection of Article VI, such transaction (or
portion thereof) at any time shall be permitted under one or more of such clauses at the time of such transaction or any later time from time to time, in each case, as determined by the Borrower in its sole discretion at such time and thereafter may
be reclassified by the Borrower in any manner not expressly prohibited by this Agreement. 

  
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 Section 1.09 Letter of Credit Amounts. Unless otherwise specified herein, the amount
of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Letter of
Credit Application related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all
such increases, whether or not such maximum stated amount is in effect at such time. 
 Section 1.10 Limited Condition
Transactions. In connection with any action being taken in connection with a Limited Condition Transaction, for purposes of (i) determining compliance with any provision of this Agreement which requires the calculation of any financial
ratio or test or (ii) testing availability under baskets set forth in this Agreement (including baskets measured as a percentage of EBITDA or Adjusted Total Assets), in each case, at the option of the Borrower (the Borrower’s election to
exercise such option in connection with any Limited Condition Transaction, an “LCT Election”), the date of determination of whether any such action is permitted hereunder shall be deemed to be the date the definitive agreement for
such Limited Condition Transaction is entered into (the “LCT Test Date”), and if, after giving pro forma effect to the Limited Condition Transaction, the Borrower or any of its Subsidiaries would have been permitted to take such
action on the relevant LCT Test Date in compliance with such ratio, test or basket, such ratio, test or basket shall be deemed to have been complied with. For the avoidance of doubt, if the Borrower has made an LCT Election and, following the LCT
Test Date, any of the ratios, tests or baskets for which compliance was determined or tested as of the LCT Test Date would have failed to have been satisfied as a result of fluctuations in any such ratio, test or basket, including due to
fluctuations in Consolidated EBITDA, Interest Expense or Consolidated Total Assets following the LCT Test Date but at or prior to the consummation of the relevant Limited Condition Transaction, such baskets, tests or ratios will not be deemed to
have failed to have been satisfied as a result of such fluctuations. If the Borrower has made an LCT Election for any Limited Condition Transaction, then in connection with any event or transaction occurring after the relevant LCT Test Date and
prior to the earlier of the date on which such Limited Condition Transaction is consummated or the date that the definitive agreement or date for redemption, repurchase, defeasance, satisfaction and discharge or repayment specified in an irrevocable
notice for such Limited Condition Transaction is terminated, expires or passes, as applicable, without consummation of such Limited Condition Transaction (a “Subsequent Transaction”) in connection with which a ratio, test or basket
availability calculation must be made on a Pro Forma Basis or giving pro forma effect to such Subsequent Transaction, for purposes of determining whether such ratio, test or basket availability has been complied with under this Agreement, any such
ratio, test or basket shall be required to be satisfied on a Pro Forma Basis assuming such Limited Condition Transaction and other transactions in connection therewith have been consummated. 

  
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 ARTICLE II 

The Credits 

Section 2.01 Commitments. Subject to the terms and conditions set forth herein: 

(a) on the Closing Date, upon satisfaction (or waiver) of the conditions set forth in Sections 4.01 and 4.02, subject to the
terms and conditions set forth in this Agreement, each Lender shall automatically and without any funding or other action on the part of such Lender, receive in exchange for the portion of its outstanding Allowed Prepetition Credit Agreement Claims
owing to such Lender, in accordance with the Plan of Reorganization, term loans in an aggregate principal amount equal to such Lender’s Term B Loan Commitment3 which shall consist of term B-1 loans to the Borrower in the aggregate principal amount of $[1,961,000,000] (“Term B-1 Loans”); 

(b) each Lender with a Revolving Facility Commitment (including pursuant to an Incremental Assumption Agreement) of a Class agrees to make
Revolving Facility Loans of such Class to the Borrower from time to time during the Availability Period for such Class of Revolving Facility in Dollars in an aggregate principal amount that will not result in (i) such Lender’s Revolving
Facility Credit Exposure of such Class exceeding such Lender’s Revolving Facility Commitment of such Class and (ii) the Revolving Facility Credit Exposure of such Class exceeding the total Revolving Facility Commitments under such Class of
Revolving Facility. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Revolving Facility Loans (without premium or penalty); 

(c) each Lender having an Incremental Term Loan Commitment agrees, subject to the terms and conditions set forth in the applicable Incremental
Assumption Agreement, to make Incremental Term Loans to the Borrower, in an aggregate principal amount not to exceed its Incremental Term Loan Commitment; and 

(d) amounts borrowed under Section 2.01(a) and/or (c) and repaid or prepaid may not be reborrowed. 

Section 2.02 Loans and Borrowings. 

(a) Each Revolving Facility Loan and Term Loan shall be made as part of a Borrowing consisting of Loans under the same Facility and of the
same Class and Type made by the Lenders ratably in accordance with their respective Commitments under the applicable Facility (or, in the case of Swingline Loans, in accordance with their respective Swingline Commitments); provided,
however, that, for the avoidance of doubt, the Term B-1 Loans shall be deemed to have been fully funded on the Closing Date in accordance with Section 2.01(a) and no Borrowings in respect thereof shall require any Lender to fund
any cash amounts in respect thereof; provided, further, that Revolving Facility Loans of any Class shall be made by the Revolving Facility Lenders of such Class ratably in accordance with their respective Revolving Facility Percentages
of such Class on the date such Loans are made hereunder. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided, that the Commitments of the Lenders are
several and no Lender shall be responsible for any other Lender’s failure to make Loans as required. 
  

	3 	 Mechanics of the transactions and loans to be discussed.

  
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 (b) Subject to Section 2.14, each Borrowing of Revolving Facility Loans or Term Loans
shall be comprised entirely of ABR Loans or Eurocurrency Loans as the applicable Borrower may request in accordance herewith. Each Lender at its option may make any ABR Loan or Eurocurrency Loan by causing any domestic or foreign branch or Affiliate
of such Lender to make such Loan; provided, that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement and such Lender shall not be entitled to any
amounts payable under Section 2.15 or 2.17 solely in respect of increased costs resulting from such exercise and existing at the time of such exercise. 

(c) At the commencement of each Interest Period for any Eurocurrency Borrowing, such Borrowing shall be in an aggregate amount not less than
the Borrowing Minimum and, in the case of a Eurocurrency Revolving Facility Borrowing, that is an integral multiple of the Borrowing Multiple. Subject to Section 2.04(c) and Section 2.05(c), at the time that each Term
Borrowing or Revolving Facility Borrowing is made, such Borrowing shall be in an aggregate amount that is not less than the Borrowing Minimum and, in the case of a Eurocurrency Revolving Facility Borrowing, that is an integral multiple of the
Borrowing Multiple; provided, that an ABR Revolving Facility Borrowing under any Revolving Facility may be in an aggregate amount that is equal to the entire unused balance of the Revolving Facility Commitments thereunder. Borrowings of more
than one Type and under more than one Facility may be outstanding at the same time; provided, that there shall not at any time be more than a total of (i) 20 Eurocurrency Borrowings outstanding under the Term Facilities (plus up to three
(3) additional Eurocurrency Borrowings in respect of each additional Incremental Term Facility) and (ii) 20 Eurocurrency Borrowings outstanding under the Revolving Facility. 

Section 2.03 Requests for Borrowings. (a) To request a Revolving Facility Borrowing and/or a Term Borrowing, the Borrower
shall deliver to the Administrative Agent (by hand delivery or electronic means) a Borrowing Request (a) in the case of a Eurocurrency Borrowing, not later than the time specified in an Incremental Revolving Facility Assumption Agreement or
Incremental Term Facility Assumption Agreement (and, in any event, not later than 12:00 p.m. (Central Time) on the date that is at least three (3) Business Days prior to the proposed date of Borrowing (or such shorter time as is agreed to by
the Administrative Agent)) or (b) in the case of an ABR Borrowing, not later than the time specified in an Incremental Revolving Facility Assumption Agreement or Incremental Term Facility Assumption Agreement (and, in any event, not later than
12:00 p.m. (Central Time) on the Business Day immediately preceding the proposed date of Borrowing (or such shorter time as is agreed to by the Administrative Agent)). Each Borrowing Request shall be irrevocable and shall specify the following
information in compliance with Section 2.02: 
 (i) whether such Borrowing is to be a Borrowing of Revolving
Facility Loans (and, if so, specifying the Class of Commitments under which such Borrowing is being made), Term B Loans, Other Term Loans, Refinancing Term Loans, Revolving Loans or Replacement Revolving Loans, as applicable; 

(ii) the aggregate amount of the requested Borrowing; 

  
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 (iii) the date of such Borrowing, which shall be a Business Day; 

(iv) whether such Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing; 

(v) in the case of a Eurocurrency Borrowing, the initial Interest Period to be applicable thereto, which shall be a period
contemplated by the definition of the term “Interest Period”; and 
 (vi) the location and number of the
Borrower’s account to which funds are to be disbursed. 
 If no election as to the Type of Revolving Facility Borrowing or Term
Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurocurrency Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one
month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each applicable Lender of the details thereof and of the amount of such Lender’s
Loan to be made as part of the requested Borrowing. 
 Section 2.04 Swingline Loans. 

(a) The Swingline. Subject to the terms and conditions set forth herein, the Swingline Lender agrees, in reliance upon the agreements
of the other Revolving Facility Lenders set forth in this Section 2.04, to make loans in Dollars under any Revolving Facility (each such loan, a “Swingline Loan”) to the Borrower from time to time on any Business Day
during the Availability Period for such Revolving Facility in an aggregate amount not to exceed at any time outstanding the amount of its Swingline Commitment, notwithstanding the fact that such Swingline Loans under such Revolving Facility, when
aggregated with the Revolving Facility Percentage of the Outstanding Amount of Revolving Facility Loans and L/C Obligations under such Revolving Facility of the Revolving Facility Lender acting as Swingline Lender, may exceed the amount of such
Lender’s Revolving Facility Commitment under such Revolving Facility; provided, however, that after giving effect to any Swingline Loan, (i) the Revolving Facility Credit Exposure of the applicable Class shall not exceed the
total Revolving Facility Commitments under such Revolving Facility of such Class and (ii) the aggregate Revolving Facility Credit Exposure of any Revolving Facility Lender of such Class (other than the Swingline Lender) shall not exceed such
Revolving Facility Lender’s Revolving Facility Commitment of such Class, and provided, further, that the Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the
foregoing limits, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.04, prepay under Section 2.11, and reborrow under this Section 2.04. Each Swingline Loan shall
be an ABR Loan. Immediately upon the making of a Swingline Loan under any Revolving Facility, each Revolving Facility Lender under such Revolving Facility shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the
Swingline Lender a risk participation in such Swingline Loan in an amount equal to the product of such Lender’s Revolving Facility Percentage under such Revolving Facility times the amount of such Swingline Loan. 

  
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 (b) Borrowing Procedures. Each Swingline Borrowing shall be made upon the Borrower’s
irrevocable delivery to the Swingline Lender of a Swingline Borrowing request, with a copy to the Administrative Agent specifying (i) the amount to be borrowed and the Revolving Facility under which such borrowing is to occur, which shall be a
minimum of an amount specified in an Incremental Revolving Facility Assumption Agreement and (ii) the requested borrowing date, which shall be a Business Day. Each such Swingline Borrowing Request must be received by the Swingline Lender and
the Administrative Agent not later than the time set forth in an Incremental Revolving Facility Assumption Agreement. Promptly after receipt by the Swingline Lender of any Swingline Borrowing Request, the Swingline Lender will confirm with the
Administrative Agent (electronically in writing) that the Administrative Agent has also received such Swingline Borrowing Request and, if not, the Swingline Lender will provide the Administrative Agent with a copy thereof. Unless the Swingline
Lender has received notice (electronically in writing) from the Administrative Agent (including at the request of any Lender) prior to the time specified in an Incremental Revolving Facility Assumption Agreement on the date of the proposed Swingline
Borrowing (A) directing the Swingline Lender not to make such Swingline Loan as a result of the limitations set forth in the proviso to the first sentence of Section 2.04(a), or (B) that one or more of the applicable conditions
specified in Section 4.01 is not then satisfied, then, subject to the terms and conditions hereof, the Swingline Lender will, not later than the time specified in an Incremental Revolving Facility Assumption Agreement, on the borrowing
date specified in such Swingline Borrowing Request, make the amount of its Swingline Loan available to the Borrower at the account of the Borrower specified in such Swingline Borrowing Request. 

(c) Refinancing of Swingline Loans. 

(i) The Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby
irrevocably authorizes the Swingline Lender to so request on its behalf), that each Revolving Facility Lender under the Revolving Facility pursuant to which such Swingline Loan was made make an ABR Revolving Loan in an amount equal to such Revolving
Facility Lender’s Revolving Facility Percentage of the amount of Swingline Loans then outstanding under such Revolving Facility. Such request shall be made in writing (which written request shall be deemed to be a Borrowing Request for purposes
hereof) and in accordance with the requirements of Section 2.02, without regard to the Borrowing Minimum and Borrowing Multiples, but subject to the unutilized portion of the Revolving Facility Commitments under such Revolving Facility
and the conditions set forth in Section 4.01. The Swingline Lender shall furnish the Borrower with a copy of the applicable Borrowing Request promptly after delivering such notice to the Administrative Agent. Each Revolving Facility
Lender shall make an amount equal to its Revolving Facility Percentage under the Revolving Facility pursuant to which such Swingline Loan was made of the amount specified in such Borrowing Request available to the Administrative Agent in Same Day
Funds for the account of the Swingline Lender at the Administrative Agent’s Office for Dollar-denominated payments not later than the time specified in an Incremental Revolving Facility Assumption Agreement (and, in any event, not later than
12:00 p.m. (Central Time) on the day specified in such Borrowing Request), whereupon, subject to Section 2.04(c)(ii), each Revolving Facility Lender that so makes funds available shall be deemed to have made an ABR Revolving Loan to the
Borrower in such amount under 

  
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such Revolving Facility. Subject to receipt of such funds and subject to the other terms and conditions of this Agreement, the Administrative Agent shall remit the funds so received to the
Swingline Lender. 
 (ii) If for any reason any Swingline Loan cannot be refinanced by such an ABR Revolving Facility
Borrowing in accordance with Section 2.04(c)(i), the request for ABR Revolving Loans submitted by the Swingline Lender as set forth herein shall be deemed to be a request by the Swingline Lender that each of the Revolving Facility
Lenders under such Revolving Facility fund its risk participation in the relevant Swingline Loan and each Revolving Facility Lender’s payment to the Administrative Agent for the account of the Swingline Lender pursuant to
Section 2.04(c)(i) shall be deemed payment in respect of such participation. 
 (iii) If any Revolving Facility
Lender under the applicable Revolving Facility fails to make available to the Administrative Agent for the account of the Swingline Lender any amount required to be paid by such Revolving Facility Lender pursuant to the foregoing provisions of this
Section 2.04(c) by the time specified in Section 2.04(c)(i), the Swingline Lender shall be entitled to recover from such Revolving Facility Lender (acting through the Administrative Agent), on demand, such amount with
interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the Swingline Lender at a rate per annum equal to the applicable Overnight Rate from time to time in effect, plus
any administrative, processing or similar fees customarily charged by the Swingline Lender in connection with the foregoing. If such Revolving Facility Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall
constitute such Lender’s ABR Revolving Loan included in the relevant ABR Revolving Facility Borrowing or funded participation in the relevant Swingline Loan, as the case may be. A certificate of the Swingline Lender submitted to any Revolving
Facility Lender (through the Administrative Agent) with respect to any amounts owing under this clause (iii) shall be conclusive absent manifest error. 

(iv) Each Revolving Facility Lender’s obligation to make ABR Revolving Loans or to purchase and fund risk participations
in Swingline Loans pursuant to this Section 2.04(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may
have against the Swingline Lender, Borrower or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing;
provided, however, that each Lender’s obligation to make ABR Revolving Loans pursuant to this Section 2.04(c) is subject to the conditions set forth in Section 4.01. No such funding of risk participations
shall relieve or otherwise impair the obligation of the Borrower to repay Swingline Loans, together with interest as provided herein. 
 (d)
Repayment of Participations. 
 (i) At any time after any Revolving Facility Lender has purchased and funded a risk
participation in a Swingline Loan, if the Swingline Lender receives any payment on account of such Swingline Loan, the Swingline Lender will distribute to such Revolving Facility Lender its Revolving Facility Percentage thereof in the same funds as
those received by the Swingline Lender. 

  
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 (ii) If any payment received by the Swingline Lender in respect of principal or
interest on any Swingline Loan made under any Revolving Facility is required to be returned by the Swingline Lender under any of the circumstances described in Section 8.10 (including pursuant to any settlement entered into by the
Swingline Lender in its discretion), each Revolving Facility Lender under such Revolving Facility shall pay to the Swingline Lender its Revolving Facility Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date
of such demand to the date such amount is returned, at a rate per annum equal to the applicable Overnight Rate. The Administrative Agent will make such demand upon the request of the Swingline Lender. The obligations of the Revolving Facility
Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 
 (e) Interest for
Account of Swingline Lender. The Swingline Lender shall be responsible for invoicing the Borrower for interest on the Swingline Loans. Until each Revolving Facility Lender funds its ABR Revolving Loan or risk participation pursuant to this
Section 2.04 to refinance such Revolving Facility Lender’s Revolving Facility Percentage of any Swingline Loan, interest in respect of such Revolving Facility Percentage shall be solely for the account of the Swingline Lender. 

(f) Payments Directly to Swingline Lender. The Borrower shall make all payments of principal and interest in respect of the Swingline
Loans directly to the Swingline Lender. 
 (g) Additional Swingline Lenders. From time to time, including pursuant to an Incremental
Revolving Facility Assumption Agreement, the Borrower may by written notice to the Administrative Agent with the consent of the Administrative Agent, or as designated in the applicable Incremental Revolving Facility Assumption Agreement, and the
applicable Revolving Facility Lender designate such Revolving Facility Lender to act as a Swingline Lender hereunder. In the event that there shall be more than one Swingline Lender hereunder, each reference to “the Swingline Lender”
hereunder with respect to any Swingline Loan shall refer to the Person that made such Swingline Loan and each such additional Swingline Lender shall be entitled to the benefits of this Agreement as a Swingline Lender to the same extent as if it had
been originally named as the Swingline Lender hereunder. Promptly after making any Swingline Loan or receiving any payment with respect to any Swingline Loan, the Swingline Lender will provide the Administrative Agent with written notice containing
the details thereof. On the last Business Day of each March, June, September and December (and on such other dates as the Administrative Agent may request), each Swingline Lender shall provide the Administrative Agent with a written list of all
Swingline Loans made by it that are outstanding at such time together with such other information as the Administrative Agent may request in its sole discretion. 

Section 2.05 The Letter of Credit Commitment. 

(a) General. 

  
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 (i) Subject to the terms and conditions set forth herein, (A) the L/C Issuer
agrees, in reliance upon the agreements of the Revolving Facility Lenders set forth in this Section 2.05, (1) from time to time on any Business Day during the period from and including the initial date upon which the Letter of
Credit Commitment is greater than $0.00, until the Letter of Credit Expiration Date, to issue Letters of Credit under any Revolving Facility denominated in Dollars for the account of the Borrower or its Subsidiaries, and to amend or extend Letters
of Credit previously issued by it, in accordance with clause (b) below and (2) to honor drawings under the Letters of Credit and (B) the Revolving Facility Lenders under each Revolving Facility severally agree to participate in
Letters of Credit issued under such Revolving Facility for the account of the Borrower or its Subsidiaries and any drawings thereunder; provided that after giving effect to any L/C Credit Extension with respect to any Letter of Credit under
any Revolving Facility, (w) the total Revolving Facility Credit Exposure under such Revolving Facility shall not exceed the total Revolving Facility Commitments under such Revolving Facility, (x) no Lender’s Revolving Facility Credit
Exposure under such Revolving Facility shall exceed such Lender’s Revolving Facility Commitment under such Revolving Facility, and (y) the Outstanding Amount of the L/C Obligations shall not exceed the Letter of Credit Sublimit. Each
request by the Borrower for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Borrower that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding
sentence. Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower or any Subsidiary may, during the foregoing period
with respect to any Revolving Facility, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. 

(ii) The L/C Issuer shall not issue any Letter of Credit under any Revolving Facility, if: 

(A) subject to Section 2.05(b)(iii), the expiry date of such requested Letter of Credit would occur more than
twelve months after the date of issuance or last extension, unless the Majority Lenders under the Revolving Facility have approved such expiry date (such approval not to be unreasonably withheld, conditioned, denied or delayed); or 

(B) the expiry date of such requested Letter of Credit would occur after the Letter of Credit Expiration Date for such
Revolving Facility, unless (i) all the Revolving Facility Lenders under such Revolving Facility have approved such expiry date (such approval not to be unreasonably withheld, conditioned, denied or delayed) or (ii) such Letter of Credit is
Cash Collateralized. 
 (iii) The L/C Issuer shall not be under any obligation to issue any Letter of Credit under any
Revolving Facility if: 
 (A) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms
purport to enjoin or restrain the L/C Issuer from issuing such Letter of Credit, or any Requirement of Law applicable to the L/C Issuer or any request 

  
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or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer refrain from, the
issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the L/C Issuer with respect to such Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not otherwise
compensated hereunder) not in effect on the Closing Date, or shall impose upon the L/C Issuer any unreimbursed loss, cost or expense which was not applicable on the Closing Date and which the L/C Issuer in good faith deems material to it; 

(B) except as otherwise agreed by the Administrative Agent and the L/C Issuer, such Letter of Credit is in an initial stated
amount less than the applicable amount set forth in the Incremental Assumption Agreement, in the case of a commercial Letter of Credit, or the applicable amount set forth in the Incremental Assumption Agreement,, in the case of a standby Letter of
Credit; or 
 (C) a default of any Revolving Facility Lender’s obligations to fund under Section 2.05(c)
exists or any Revolving Facility Lender is at such time a Defaulting Lender hereunder, unless the L/C Issuer has entered into reasonably satisfactory arrangements with the Borrower or such Revolving Facility Lender to eliminate the L/C Issuer’s
Fronting Exposure with respect to such Revolving Facility Lender. 
 (iv) The L/C Issuer shall not amend any Letter of Credit
if the L/C Issuer would not be permitted at such time to issue such Letter of Credit in its amended form under the terms hereof. 

(v) The L/C Issuer shall be under no obligation to amend any Letter of Credit if (A) the L/C Issuer would have no
obligation at such time to issue such Letter of Credit in its amended form under the terms hereof or (B) the beneficiary of such Letter of Credit does not accept the proposed amendment to such Letter of Credit. 

(vi) The L/C Issuer shall act on behalf of the Revolving Facility Lenders with respect to any Letters of Credit issued by it
and the documents associated therewith, and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article VIII with respect to any acts taken or omissions suffered by the L/C Issuer in
connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article VIII included the L/C Issuer
with respect to such acts or omissions and (B) as additionally provided herein with respect to the L/C Issuer. 
 (b) Procedures for
Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit. 
 (i) Each Letter of Credit shall be issued
or amended, as the case may be, upon the request of the Borrower delivered to the L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the
Borrower. Such Letter of Credit Application must be 

  
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received by the L/C Issuer and the Administrative Agent not later than the time set forth in the Incremental Revolving Facility Assumption Agreement (and, in any event, not later than 12:00 p.m.
(Central Time), at least two Business Days (or such later date and time as the Administrative Agent and the L/C Issuer may agree in a particular instance in their sole discretion) prior to the proposed issuance date or date of amendment, as the case
may be). In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail reasonably satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested
Letter of Credit (which shall be a Business Day), (B) the amount and currency thereof, (C) the expiry date thereof, (D) the name and address of the beneficiary thereof and the Revolving Facility under which such Letter of Credit is
being issued, (E) the documents to be presented by such beneficiary in case of any drawing thereunder, (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder, and (G) such other
matters as the L/C Issuer may reasonably request. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail reasonably satisfactory to the L/C Issuer
(A) the Letter of Credit to be amended, (B) the proposed date of amendment thereof (which shall be a Business Day), (C) the nature of the proposed amendment, and (D) such other matters as the L/C Issuer may reasonably request.
Additionally, the Borrower shall furnish to the L/C Issuer and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C Issuer or
the Administrative Agent may reasonably request. 
 (ii) Promptly after receipt of any Letter of Credit Application, the L/C
Issuer will confirm with the Administrative Agent (electronically in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Borrower and, if not, the L/C Issuer will provide the Administrative Agent
with a copy thereof. Unless the L/C Issuer has received written notice from any Revolving Facility Lender, the Administrative Agent or any Loan Party, at least one Business Day prior to the requested date of issuance or amendment of the applicable
Letter of Credit, that one or more applicable conditions contained in Section 4.01 shall not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for
the account of the Borrower (or the applicable Subsidiary) or enter into the applicable amendment, as the case may be, in each case in accordance with the L/C Issuer’s usual and customary business practices. Immediately upon the issuance of
each Letter of Credit under any Revolving Facility, each Revolving Facility Lender under such Revolving Facility shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a risk participation in such
Letter of Credit in an amount equal to the product of such Lender’s Revolving Facility Percentage under such Revolving Facility times the amount of such Letter of Credit. 

(iii) If the Borrower so requests in any applicable Letter of Credit Application, the L/C Issuer shall issue a Letter of Credit
under any Revolving Facility that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any such
extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not 

  
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later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by
the L/C Issuer, the Borrower shall not be required to make a specific request to the L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit under any Revolving Facility has been issued, the Revolving Facility Lenders shall be
deemed to have authorized (but may not require) the L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date under such Revolving Facility (unless Cash
Collateralized); provided, however, that the L/C Issuer shall not permit any such extension if (A) the L/C Issuer has determined that it would not be permitted at such time to issue such Letter of Credit in its revised form (as
extended) under the terms hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.05(a) or otherwise) or (B) it has received notice (which may be by telephone or in writing) on or before the day that is
five Business Days before the Non-Extension Notice Date (1) from the Administrative Agent that the Majority Lenders under the Revolving Facility have elected not to permit such extension or (2) from the Administrative Agent, any Revolving
Facility Lender or the Borrower that one or more of the applicable conditions specified in Section 4.01 is not then satisfied, and in each such case directing the L/C Issuer not to permit such extension. 

(iv) If the Borrower so requests in any applicable Letter of Credit Application, the L/C Issuer shall issue a Letter of Credit
under any Revolving Facility that permits the automatic reinstatement of all or a portion of the stated amount thereof after any drawing thereunder (each, an “Auto-Reinstatement Letter of Credit”). Unless otherwise directed by the
L/C Issuer, the Borrower shall not be required to make a specific request to the L/C Issuer to permit such reinstatement. Once an Auto-Reinstatement Letter of Credit has been issued under any Revolving Facility, except as provided in the following
sentence, the Revolving Facility Lenders under such Revolving Facility shall be deemed to have authorized (but may not require) the L/C Issuer to reinstate all or a portion of the stated amount thereof in accordance with the provisions of such
Letter of Credit. Notwithstanding the foregoing, if such Auto-Reinstatement Letter of Credit permits the L/C Issuer to decline to reinstate all or any portion of the stated amount thereof after a drawing thereunder by giving notice of such
non-reinstatement within a specified number of days after such drawing (the “Non-Reinstatement Deadline”), the L/C Issuer shall not permit such reinstatement if it has received a notice (which may be by telephone or in writing) on
or before the day that is five Business Days before the Non-Reinstatement Deadline (A) from the Administrative Agent that the Majority Lenders under the Revolving Facility have elected not to permit such reinstatement or (B) from the
Administrative Agent, any Revolving Facility Lender or the Borrower that one or more of the applicable conditions specified in Section 4.01 is not then satisfied (treating such reinstatement as an L/C Credit Extension for purposes of
this clause) and, in each case, directing the L/C Issuer not to permit such reinstatement. 
 (v) Promptly after its delivery
of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver to the Borrower and the Administrative Agent a true and complete copy of such
Letter of Credit or amendment. 

  
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 (c) Drawings and Reimbursements; Funding of Participations. 

(i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the L/C
Issuer shall notify in writing the Borrower and the Administrative Agent thereof. Not later than on the next succeeding Business Day (each such applicable date, an “Honor Date”), the Borrower shall reimburse the L/C Issuer (and the
L/C Issuer shall promptly notify the Administrative Agent in writing of any failure by the Borrower to so reimburse the L/C Issuer by such time) in an amount equal to the amount of such drawing and in the applicable currency. If the Borrower fails
to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Revolving Facility Lender under the Revolving Facility pursuant to which such Letter of Credit was issued of the Honor Date, the amount of the
unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Lender’s Revolving Facility Percentage thereof. In such event, the Borrower shall be deemed to have requested a Borrowing of ABR Revolving Loans under the
Revolving Facility under which such Letter of Credit was issued to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum Borrowing Minimums or Borrowing Multiples, but subject to the amount of
the unutilized portion of the Revolving Facility Commitments under such Revolving Facility and the conditions set forth in Section 4.01 (other than the delivery of a Borrowing Request). Any notice given by the L/C Issuer or the
Administrative Agent pursuant to this Section 2.05(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect
of such notice. 
 (ii) Each Revolving Facility Lender under the Revolving Facility under which such Letter of Credit was
issued shall upon any notice pursuant to Section 2.05(c)(i) make funds available to the Administrative Agent for the account of the L/C Issuer, in Dollars, at the Administrative Agent’s Office for Dollar-denominated payments in an
amount equal to its Revolving Facility Percentage under such Revolving Facility of the Unreimbursed Amount not later than 1:00 p.m. on the Business Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of
Section 2.05(c)(iii), each Revolving Facility Lender that so makes funds available shall be deemed to have made an ABR Revolving Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the L/C
Issuer in Dollars. 
 (iii) With respect to any Unreimbursed Amount that is not fully refinanced by a Borrowing of ABR
Revolving Loans because the conditions set forth in Section 4.01 cannot be satisfied or for any other reason, the Borrower shall be deemed to have incurred from the L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount
that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the rate specified in Section 2.13(c). In such event, each Revolving Facility Lender’s payment to
the Administrative Agent for the account of the L/C Issuer pursuant to Section 2.05(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Revolving Facility
Lender in satisfaction of its participation obligation under this Section 2.05. 

  
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 (iv) Until each Revolving Facility Lender funds its ABR Revolving Loan or L/C
Advance pursuant to this Section 2.05(c) to reimburse the L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Revolving Facility Percentage of such amount shall be solely for the account
of the L/C Issuer. 
 (v) Each Revolving Facility Lender’s obligation to make ABR Revolving Loans or L/C Advances to
reimburse the L/C Issuer for amounts drawn under Letters of Credit under a revolving Facility under which such Lender has a Revolving Facility Commitment, as contemplated by this Section 2.05(c), shall be absolute and unconditional and
shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Revolving Facility Lender may have against the L/C Issuer, the Borrower, any Subsidiary or any other Person for any
reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Lender’s obligation to make
ABR Revolving Loans pursuant to this Section 2.05(c) is subject to the conditions set forth in Section 4.01 (other than delivery by the Borrower of a Borrowing Request). No such making of an L/C Advance shall relieve or
otherwise impair the obligation of the Borrower to reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer under any Letter of Credit, together with interest as provided herein. 

(vi) If any Revolving Facility Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any
amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.05(c) by the time specified in Section 2.05(c)(ii), the L/C Issuer shall be entitled to recover from such Lender (acting through
the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the L/C Issuer at a rate per annum equal to the applicable
Overnight Rate from time to time in effect, plus any administrative, processing or similar fees customarily charged by the L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount
so paid shall constitute such Lender’s ABR Revolving Loan included in the relevant Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the case may be. A certificate of the L/C Issuer submitted to any Revolving Facility Lender
(through the Administrative Agent) with respect to any amounts owing under this clause (vi) shall be conclusive absent manifest error. 

(d) Repayment of Participations. 

(i) At any time after the L/C Issuer has made a payment under any Letter of Credit and has received from any Revolving Facility
Lender such Revolving Facility Lender’s L/C Advance in respect of such payment in accordance with Section 2.05(c), if the Administrative Agent receives for the account of the L/C Issuer any payment in respect of the related
Unreimbursed Amount or interest thereon (whether directly from the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute to such Revolving Facility Lender
its Revolving Facility Percentage thereof under the applicable Revolving Facility in Dollars and in the same funds as those received by the Administrative Agent. 

  
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 (ii) If any payment received by the Administrative Agent for the account of the
L/C Issuer pursuant to Section 2.05(c)(i) in connection with the issuance of any Letter of Credit under any Revolving Facility is required to be returned under any of the circumstances described in Section 8.10 (including
pursuant to any settlement entered into by the L/C Issuer in its discretion), each Revolving Facility Lender under such Revolving Facility shall pay to the Administrative Agent for the account of the L/C Issuer its Revolving Facility Percentage
under such Revolving Facility thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned by such Revolving Facility Lender, at a rate per annum equal to the applicable
Overnight Rate from time to time in effect. The obligations of the Revolving Facility Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 

(e) Obligations Absolute. The obligation of the Borrower to reimburse the L/C Issuer for each drawing under each Letter of Credit and
to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following: 

(i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document; 

(ii) the existence of any claim, counterclaim, setoff, defense or other right that the Borrower or any Subsidiary may have at
any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the L/C Issuer or any other Person, whether in connection with this Agreement, the
transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 

(iii) any draft, demand, certificate or other document presented under such Letter of Credit that appears on its face to be
valid proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a
drawing under such Letter of Credit; 
 (iv) any payment by the L/C Issuer under such Letter of Credit against presentation
of a draft or certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee
for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; or 

(v) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other
circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrower or any Subsidiary (other than the defense of payment or performance). 

  
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 The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered
to it and, in the event of any claim of noncompliance with the Borrower’s instructions or other irregularity, the Borrower will promptly notify the L/C Issuer. 

(f) Role of L/C Issuer. Each Revolving Facility Lender and the Borrower agree that, in paying any drawing under a Letter of Credit, the
L/C Issuer shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or
the authority of the Person executing or delivering any such document. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable to any
Lender for (i) any action taken or omitted in connection herewith at the request or with the approval of the Required Lenders, (ii) any action taken or omitted in the absence of gross negligence or willful misconduct, or (iii) the due
execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Issuer Document. The Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to
its use of any Letter of Credit; provided, however, that this assumption is not intended to, and shall not, preclude the Borrower’s pursuing such rights and remedies as it may have against the beneficiary or transferee at law or
under any other agreement. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable or responsible for any of the matters described in
clauses (i) through (v) of Section 2.05(e); provided, however, that anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against the L/C Issuer, and the L/C Issuer may be liable
to the Borrower, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by the Borrower which the Borrower proves were caused by the L/C Issuer’s (or its Related Parties’) willful
misconduct, bad faith, material breach or gross negligence or the L/C Issuer’s willful failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the
terms and conditions of a Letter of Credit. In furtherance and not in limitation of the foregoing, the L/C Issuer may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any
notice or information to the contrary, and the L/C Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits
thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason. 
 (g) Cash
Collateral. 
 (i) Upon the request of the Administrative Agent if, as of the Letter of Credit Expiration Date, any L/C
Obligation for any reason remains outstanding, the Borrower shall promptly Cash Collateralize the then Outstanding Amount of all L/C Obligations. 

(ii) Sections 2.11(d), 2.22 and 7.01 set forth certain additional requirements to deliver Cash Collateral
hereunder. For purposes of Sections 2.05, 2.11(d), 2.22 and 7.01, 

  
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“Cash Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the L/C Issuer and the Revolving Facility Lenders, as collateral
for the L/C Obligations, cash or deposit account balances, in each case, pursuant to documentation in form and substance reasonably satisfactory to the Administrative Agent and the L/C Issuer (which documents are hereby consented to by the Lenders).
Derivatives of such term have corresponding meanings. The Borrower hereby grants to the Administrative Agent, for the benefit of the L/C Issuer and the Revolving Facility Lenders under any Revolving Facility under which a Letter of Credit is Cash
Collateralized, a security interest in all such cash, deposit accounts and all balances therein and all proceeds of the foregoing. Except as otherwise agreed to by the Administrative Agent, Cash Collateral shall be maintained in blocked,
non-interest bearing deposit accounts at Wells Fargo. 
 (h) Applicability of ISP and UCP. Unless otherwise expressly agreed by the
L/C Issuer and the Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of Credit and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published
by the International Chamber of Commerce at the time of issuance shall apply to each commercial Letter of Credit. 
 (i) Conflict with
Issuer Documents. In the event of any conflict between the terms hereof and the terms of any Issuer Document, the terms hereof shall control, and any grant of a security interest in any Issuer Document or other agreement with respect to such
Letter of Credit (other than the Security Documents) shall be null and void. 
 (j) Letters of Credit Issued for Subsidiaries.
Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse the L/C Issuer hereunder for any and all drawings under
such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives substantial benefits from the
businesses of such Subsidiaries. 
 (k) Additional L/C Issuers. From time to time, including pursuant to an Incremental Revolving
Facility Assumption Agreement, the Borrower may by notice to the Administrative Agent with the consent of the Administrative Agent (such consent not to be unreasonably withheld, conditioned, denied or delayed), or as designated in the applicable
Incremental Revolving Facility Assumption Agreement, and the applicable Revolving Facility Lender designate such Revolving Facility Lender to act as an L/C Issuer hereunder. In the event that there shall be more than one L/C Issuer hereunder, each
reference to “the L/C Issuer” hereunder with respect to any L/C Issuer shall refer to the Person that issued such Letter of Credit and each such additional L/C Issuer shall be entitled to the benefits of this Agreement as an L/C Issuer to
the same extent as if it had been originally named as the L/C Issuer hereunder. Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, each
L/C Issuer will also deliver to the Administrative Agent a true and complete copy of such Letter of Credit or amendment. On the last Business Day of each March, June, September and December (and on such other dates as the Administrative Agent may
request), each L/C Issuer shall provide the Administrative Agent a list of all Letters of Credit issued by it that are outstanding at such time together with such other information as the Administrative Agent may reasonably request. 

  
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 Section 2.06 Funding of Borrowings. 

(a) Each Lender shall make each Term Loan or Revolving Facility Loan to be made by it hereunder available to the Administrative Agent in Same
Day Funds at the Administrative Agent’s Office for the applicable currency not later than (i) 10:00 a.m., Central Time, in the case of any ABR Loan denominated in Dollars and (ii) 10:00 a.m., Central Time, in the case of any
Eurocurrency Loan denominated in Dollars, in each case, on the Business Day specified in the applicable Borrowing Request. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like
funds, to an account of the Borrower as specified in the Borrowing Request; provided, however, that if, on the date the Borrowing Request with respect to a Revolving Facility Borrowing denominated in Dollars is given by the Borrower,
there are L/C Borrowings outstanding, then the proceeds of such Borrowing, first, shall be applied to the payment in full of any such L/C Borrowings, and, second, shall be made available to the Borrower as provided above. 

(b) Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing of Eurocurrency Loans
(or, in the case of any Borrowing of ABR Loans, prior to 9:00 a.m., Central Time, on the date of such Borrowing) that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative
Agent may assume that such Lender has made such share available on such date in accordance with Section 2.06(a) (or, in the case of a Borrowing of ABR Loans, that such Lender has made such share available in accordance with and at the
time required by Section 2.06(a)) and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the
Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand the corresponding amount in Same Day Funds with interest thereon, for each day from and including the date such
amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the Overnight Rate, plus any administrative, processing or similar fees
customarily charged by the Administrative Agent in connection with the foregoing and (B) in the case of a payment to be made by the Borrower, the interest rate applicable to ABR Loans under the applicable Facility. If the Borrower and such
Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays its
share of the applicable Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have
against a Lender that shall have failed to make such payment to the Administrative Agent. 
 Section 2.07 Interest Elections.

 (a) Each Borrowing of Revolving Facility Loans or Term Loans initially shall be of the Type specified in the applicable Borrowing Request
and, in the case of a Eurocurrency 

  
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Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such
Borrowing and, in the case of a Eurocurrency Borrowing, may elect Interest Periods therefor, all as provided in this Section; provided, that except as otherwise provided herein, a Eurocurrency Loan may be continued or converted only on the
last day of an Interest Period for such Eurocurrency Loan. The Borrower may elect different options with respect to different portions of the affected Revolving Facility Borrowing or Term Borrowing, in which case each such portion shall be allocated
ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. 

(b) To make an election pursuant to this Section, the Borrower shall notify the Administrative Agent of such election in writing by the time
that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such Interest Election Request
shall be irrevocable and shall be in writing and delivered by hand delivery or electronic means to the Administrative Agent of a written Interest Election Request in the form of Exhibit D and otherwise satisfactory to the Administrative Agent
and signed by a Responsible Officer of the Borrower. 
 (c) Each written Interest Election Request shall specify the following information
in compliance with Section 2.02: 
 (i) the Borrowing to which such Interest Election Request applies and, if
different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall
be specified for each resulting Borrowing); 
 (ii) the effective date of the election made pursuant to such Interest
Election Request, which shall be a Business Day; 
 (iii) whether the resulting Borrowing is to be an ABR Borrowing or a
Eurocurrency Borrowing; and 
 (iv) if the resulting Borrowing is a Eurocurrency Borrowing, the Interest Period to be
applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period.” 

If any such Interest Election Request requests a Eurocurrency Borrowing but does not specify an Interest Period, then the Borrower shall be
deemed to have selected an Interest Period of one month’s duration. 
 (d) Promptly following receipt of an Interest Election Request,
the Administrative Agent shall advise each Lender to which such Interest Election Request relates of the details thereof and of such Lender’s portion of each resulting Borrowing. 

  
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 (e) If the Borrower fails to deliver a timely Interest Election Request with respect to a
Eurocurrency Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be converted to an ABR Borrowing. Notwithstanding
any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the written request (including a request through electronic means) of the Required Lenders, so notifies the Borrower, then, so long
as an Event of Default is continuing (i) no outstanding Borrowing denominated in Dollars may be converted to or continued as a Eurocurrency Borrowing, (ii) unless repaid, each Eurocurrency Borrowing denominated in Dollars shall be
converted to an ABR Borrowing at the end of the Interest Period applicable thereto, and (iii) each Eurocurrency Revolving Facility Borrowing shall, unless repaid, be continued as a Eurocurrency Revolving Facility Borrowing with an Interest
Period of one month’s duration. 
 Section 2.08 Termination and Reduction of Revolving Facility Commitments. 

(a) Unless previously terminated, the Revolving Facility Commitments, if any, of any Class shall terminate on the Revolving Facility Maturity
Date with respect to such Class. 
 (b) The Borrower may at any time terminate, or from time to time reduce, the Revolving Facility
Commitments, if any, of any Class; provided, that (i) each such reduction of the Revolving Facility Commitments of any Class shall be in an amount that is an integral multiple of $500,000 and not less than $1,000,000 (or, if less, the
remaining amount of such Class of Revolving Facility Commitments) and (ii) the Borrower shall not terminate or reduce the Revolving Facility Commitments of any Class if, after giving effect to any concurrent prepayment of the Revolving Facility
Loans in accordance with Section 2.11 under such Revolving Facility, the Revolving Facility Credit Exposure of such Class (excluding any Cash Collateralized Letter of Credit) would exceed the total Revolving Facility Commitments of such
Class. 
 (c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Revolving Facility Commitments
of any Class under clause (b) of this Section at least three Business Days prior to the effective date of such termination or reduction (or such shorter period acceptable to the Administrative Agent), specifying such election and the effective
date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided, that
a notice of termination or reduction of the Revolving Facility Commitments of any Class delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, indentures or similar agreements or other
transactions, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitments shall be
permanent. Each reduction of the Commitments of a Class shall be made ratably among the applicable Lenders in accordance with their respective Commitments of such Class. 

  
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 Section 2.09 Repayment of Loans; Evidence of Debt. 

(a) The Borrower hereby unconditionally promises to pay (i) to the Administrative Agent for the account of each Revolving Facility Lender
under each Revolving Facility the then unpaid principal amount of each Revolving Facility Loan under such Revolving Facility on the Revolving Facility Maturity Date with respect to such Revolving Facility, (ii) to the Administrative Agent for
the account of each Lender the then unpaid principal amount of each Term Loan of such Lender as provided in Section 2.10, and (iii) to the Swingline Lender the then unpaid principal amount of each Swingline Loan under any Revolving
Facility on the Revolving Facility Maturity Date with respect to such Revolving Facility. 
 (b) Each Lender shall maintain in accordance
with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time
hereunder. 
 (c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount and currency of each Loan
made hereunder, the Facility and Type thereof and the Interest Period (if any) applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder, and
(iii) any amount received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. 

(d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie evidence of
the existence and amounts of the obligations recorded therein; provided, that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower
to repay the Loans in accordance with the terms of this Agreement. 
 (e) Any Lender may request (by written notice to the Administrative
Agent) that Loans of any Class made by it be evidenced by a promissory note (a “Note”). In such event, the Borrower shall promptly prepare, execute and deliver to such Lender a promissory note payable to the order of such Lender
(or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent and reasonably acceptable to the Borrower. Thereafter, unless otherwise agreed to by the applicable Lender, the Loans
evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form payable to the order of the payee named therein
(or, if requested by such payee, to such payee and its registered assigns). 
 Section 2.10 Repayment of Term Loans and Revolving
Facility Loans. 
 (a) Subject to the other paragraphs of this Section, 

(i) the Borrower shall repay Term B Borrowings on the last day of each March, June, September and December of each year
(commencing on the last day of the second full fiscal quarter of the Borrower after the Closing Date) (each, a “Payment Date”) and on the applicable Term Facility Maturity Date, or, if such date is not a Business Day, the next
preceding Business Day (each such date being referred to as a 

  
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“Term B Loan Installment Date”), in an aggregate principal amount of the Term B Loans equal to (A) in the case of quarterly payments due prior to the applicable Term
Facility Maturity Date, an amount equal to 0.25% of the aggregate principal amount of Term B Loans outstanding on the Closing Date on each such Payment Date and (B) in the case of such payment due on the applicable Term Facility Maturity Date,
an amount equal to the then unpaid principal amount of the Term B Loans outstanding; 
 (ii) in the event that any
Incremental Term Loans are made on an Increased Amount Date, the Borrower shall repay such Incremental Term Loans on the dates and in the amounts set forth in the related Incremental Assumption Agreement (each such date being referred to as an
“Incremental Term Loan Installment Date”); 
 (iii) to the extent not previously paid, outstanding Term
Loans shall be due and payable on the applicable Term Facility Maturity Date. 
 (b) To the extent not previously paid, outstanding
Revolving Facility Loans of any Class shall be due and payable on the Revolving Facility Maturity Date with respect to such Class. 
 (c)
Prepayment of the Term Loans from: 
 (i) all Net Proceeds pursuant to Section 2.11(b) shall be applied to the
Term Loans pro rata among each Term Facility, with the application thereof being applied to the remaining installments thereof as the Borrower may direct; provided that, subject to the pro rata application to Loans outstanding within any
Class of Term Loans, the Borrower may allocate such prepayment in its sole discretion among the Class or Classes of Term Loans as the Borrower may specify (so long as the Initial Term B Loans incurred on the Closing Date are allocated at least their
pro rata share of such prepayment); 
 (ii) any optional prepayments of the Term Loans pursuant to
Section 2.11(a) shall be applied to the remaining installments of the Term Loans as the Borrower may direct under the applicable Class or Classes as the Borrower may direct; 

(iii) any prepayment of Term Loans of a particular Class pursuant to Section 2.11(g) (in the case of Dutch Auctions) or
9.04(i) shall be applied to the remaining installments of such Class of Term Loans on a pro rata basis; and 
 (iv) as
a result of an open market purchase, in accordance with the terms herein, may be applied on a non-pro rata basis. 
 (d) Any mandatory
prepayment of Term Loans pursuant to Section 2.11(b) shall be applied so that the aggregate amount of such prepayment is allocated among the Term Loans in the applicable Class or Classes of Term Loans (including Refinancing Term Loans
and Other Term Loans, if any) to be repaid (so long as the Initial Term B Loans incurred on the Closing Date are allocated at least their pro rata share of such prepayment), pro rata based on the aggregate principal amount of outstanding Term Loans
in the applicable Class or Classes, irrespective of whether such outstanding Term Loans are ABR Loans or Eurocurrency Loans (other than with respect to Other Term Loans or Refinancing Term Loans, to the extent the

  
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Incremental Assumption Agreement relating thereto does not so require); provided that if no Lenders exercise the right to waive a given mandatory prepayment of the Term Loans pursuant to
Section 2.11(e), then, with respect to such mandatory prepayment, prior to the repayment of any Term Loan, the Borrower may select the Borrowing or Borrowings to be prepaid and shall notify the Administrative Agent in writing (including
by electronic means) of such selection not later than 10:00 a.m. (Central Time), (i) in the case of an ABR Borrowing, at least one Business Day before the scheduled date of such prepayment and (ii) in the case of a Eurocurrency Borrowing,
at least three Business Days before the scheduled date of such prepayment (or, in each case, such shorter period acceptable to the Administrative Agent); provided, that a notice of prepayment may state that such notice is conditioned upon the
effectiveness of other credit facilities, indentures or similar agreements or other transactions, in each case as such notice may be revoked by the Borrower (by written notice to the Administrative Agent on or prior to the specified effective date)
if such condition is not satisfied. Repayments of Eurocurrency Borrowings pursuant to this Section 2.10 shall be accompanied by accrued interest on the amount repaid to the extent required by Section 2.13(d). 

Section 2.11 Prepayment of Loans. 

(a) The Borrower shall have the right at any time and from time to time to prepay any Loan in whole or in part, without premium or penalty
(except as provided in clause (i) of this Section 2.11(a) and subject to Section 2.16), in an aggregate principal amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum or,
if less, the amount outstanding, upon prior notice in accordance with Section 2.10(d). Each such notice shall be signed by a Responsible Officer of the Borrower and shall specify the date and amount of such prepayment and the Class(es)
and the Type(s) of Loans to be prepaid and, if Eurocurrency Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each applicable Lender of its receipt of each such notice, and of the amount of
such Lender’s pro rata share of such prepayment. 
 (i) Each voluntary prepayment of Initial Term B Loans pursuant to
this Section 2.11(a) (and excluding prepayments pursuant to Section 2.19 or Section 9.04(i) or (j)) shall be subject to the following: 

(A) in the event of any voluntary prepayments of all or any portion of the Initial Term B Loans pursuant to this
Section 2.11(a) made prior to the first anniversary of the Closing Date, the Borrower shall pay, or cause to be paid, to the applicable Lenders with respect to such Initial Term B Loans a prepayment premium equal to the Applicable
Premium on such date on the aggregate principal amount of the Term B Loans so prepaid; provided, however, that in the event of any voluntary prepayment in cash of all Initial Term B Loans pursuant to this Section 2.11(a) on
or prior to the six month anniversary of the Closing Date, such prepayment shall be without premium or penalty (subject to Section 2.16); 

(B) in the event of any voluntary prepayments of all or any portion of the Initial Term B Loans pursuant to this
Section 2.11(a) made on or after the first anniversary of the Closing Date and prior to the second anniversary of the Closing Date, the Borrower shall pay, or cause to be paid, to the applicable Lenders with respect to such Initial Term
B Loans a prepayment premium equal to 3% of the aggregate principal amount of the Initial Term B Loans so prepaid; 

  
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 (C) in the event of any voluntary prepayments of all or any portion of the
Initial Term B Loans pursuant to this Section 2.11(a) made on or after the second anniversary of the Closing Date and prior to the third anniversary of the Closing Date, the Borrower shall pay, or cause to be paid, to the applicable
Lenders with respect to such Initial Term B Loans a prepayment premium equal to 2% of the aggregate amount of the Initial Term B Loans so prepaid; 

(D) in the event of any voluntary prepayments of all or any portion of the Initial Term B Loans pursuant to this
Section 2.11(a) made on or after the third anniversary of the Closing Date and prior to the fourth anniversary of the Closing Date, the Borrower shall pay, or cause to be paid, to the applicable Lenders with respect to such Initial Term
B Loans a prepayment premium equal to 1% of the aggregate amount of the Initial Term B Loans so prepaid; and 
 (E) No
prepayment premium shall be payable on or after the fourth anniversary of the Closing Date. 
 (b) Subject to Section 2.11(e)
and (f), the Borrower shall apply all Net Proceeds promptly upon receipt thereof to prepay Term Loans in accordance with clauses (c) and (d) of Section 2.10; provided that, with respect to Net Proceeds, the
Borrower may use a portion of such Net Proceeds to prepay or repurchase any First Lien Notes or other Indebtedness that is secured by pari passu Liens on the Collateral permitted by Section 6.02, in each case in an amount not to exceed
the product of (x) the amount of such Net Proceeds multiplied by (y) a fraction, (A) the numerator of which is the outstanding principal amount of such Indebtedness with a pari passu Lien on the Collateral and (B) the denominator
of which is the sum of the outstanding principal amount of such Indebtedness and the outstanding principal amount of all Classes of Term Loans; provided that, for the avoidance of doubt, Declined Proceeds can be used for any purpose not
otherwise prohibited by this Agreement, including to prepay or repurchase additional First Lien Notes. 
 (c) [Reserved.] 

(d) If the Administrative Agent notifies the Borrower in writing at any time that the Revolving Facility Credit Exposure at such time exceed
an amount equal to 100% of the Revolving Facility Commitments then in effect, then, within two Business Days after receipt of such notice, the Borrower shall (at the Borrower’s option) prepay Revolving Facility Loans and/or the Swingline Loans
and/or the Borrower shall Cash Collateralize the L/C Obligations in an aggregate amount sufficient to reduce the Revolving Facility Credit Exposure as of such date of payment to an amount not to exceed 100% of the Revolving Facility Commitments then
in effect. The Administrative Agent may at any time and from time to time after any such initial deposit of such Cash Collateral, request that additional Cash Collateral be provided in order to protect against the results of further exchange rate
fluctuations. 

  
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 (e) Anything contained herein to the contrary notwithstanding, in the event the Borrower is
required to make any mandatory prepayment (a “Waivable Mandatory Prepayment”) of the Term Loans, not less than three Business Days prior to the date (the “Required Prepayment Date”) on which the Borrower elects (or
is otherwise required) to make such Waivable Mandatory Prepayment, the Borrower shall notify the Administrative Agent in writing of the amount of such prepayment, and the Administrative Agent will promptly thereafter notify each Lender holding an
outstanding Term Loan of the amount of such Lender’s pro rata share of such Waivable Mandatory Prepayment and such Lender’s option to refuse such amount. Each such Lender may exercise such option by giving written notice to the
Administrative Agent of its election to do so on or before the second Business Day prior to the Required Prepayment Date (it being understood that any Lender which does not notify the Administrative Agent in writing of its election to exercise such
option on or before the first Business Day prior to the Required Prepayment Date shall be deemed to have elected, as of such date, not to exercise such option). On the Required Prepayment Date, the Borrower shall pay to the Administrative Agent the
amount of the Waivable Mandatory Prepayment less the amount of Declined Proceeds, which amount shall be applied by the Administrative Agent to prepay the Term Loans of those Lenders that have elected to accept such Waivable Mandatory Prepayment
(each, an “Accepting Lender”) (which prepayment shall be applied to the scheduled installments of principal of the Term Loans in the applicable Class(es) of Term Loans in accordance with paragraphs (c) and (d) of
Section 2.10) and (ii) the Borrower may retain a portion of the Waivable Mandatory Prepayment in an amount equal to that portion of the Waivable Mandatory Prepayment otherwise payable to those Lenders that have elected to exercise
such option and decline such Waivable Mandatory Prepayment (such declined amounts, the “Declined Proceeds”). Such Declined Proceeds shall be retained by the Borrower and may be used for any purpose not otherwise prohibited by this
Agreement. 
 (f) Notwithstanding any other provisions of this Section 2.11 to the contrary, (i) to the extent that any Net
Proceeds of any Asset Sale by a Foreign Subsidiary is prohibited, restricted or delayed by applicable local law, applicable organizational or constitutive documents or other material agreements from being repatriated to the United States, the
portion of such Net Proceeds so affected will not be required to be applied to repay Term Loans at the times provided in Section 2.11(b) or Section 2.11(c) but may be retained by the applicable Foreign Subsidiary so long, but
only so long, as the applicable local law, organizational or constitutive document or other material agreement does not permit or otherwise restricts or delays repatriation to the United States (the Borrower hereby agreeing to cause the applicable
Foreign Subsidiary to promptly use commercially reasonable efforts to take all actions reasonably required by the applicable local law to permit such repatriation), and once such repatriation of any of such affected Net Proceeds is permitted under
the applicable local law, such repatriation may be effected and an amount equal to such Net Proceeds, which could be repatriated, will be promptly applied (net of additional taxes payable or reserved against as a result thereof) to the repayment of
the Term Loans pursuant to Section 2.11(b) or Section 2.11(c), to the extent provided herein, (ii) to the extent that the Borrower has determined in good faith that repatriation of any or all of such Net Proceeds could
have an adverse tax cost consequence with respect to such Net Proceeds (other than a de minimis tax consequence), the Net Proceeds so affected may be retained by the applicable Foreign Subsidiary; provided that, in the case of this clause
(ii), on or before the date on which any Net Proceeds so retained would otherwise have been required to be applied to prepayments pursuant to Section 2.11(b) or Section 2.11(c), (x) the Borrower

  
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applies an amount equal to such Net Proceeds to such prepayments as if such Net Proceeds had been received by the Borrower rather than such Foreign Subsidiary, less the amount of additional taxes
that would have been payable or reserved against if such Net Proceeds had been repatriated (or, if less, Net Proceeds that would be calculated if received by such Foreign Subsidiary) or (y) such Net Proceeds is applied to the permanent
repayment of Indebtedness of a Foreign Subsidiary, and (iii) to the extent that any Net Proceeds of any Asset Sale by a Foreign Subsidiary attributable to a Foreign Subsidiary is used to repay Indebtedness of a Foreign Subsidiary, no prepayment
with respect to such amounts shall be required. 
 (g) Notwithstanding anything to the contrary in Section 2.11(a) or
2.18(c) (which provisions shall not be applicable to this Section 2.11(g)), the Borrower shall have the right at any time and from time to time to prepay Term Loans and/or repay Revolving Facility Loans of any Class (with, in the
case of Revolving Facility Loans under any Revolving Facility, a corresponding permanent reduction in the Revolving Facility Commitment of each Lender who receives a Discounted Voluntary Prepayment), to the Lenders at a discount to the par value of
such Loans and on a non pro rata basis (each, a “Discounted Voluntary Prepayment”) pursuant to the procedures described in this Section 2.11(g); provided that (A) any Discounted Voluntary Prepayment shall be
offered to all Lenders with Term Loans of any Class and/or Revolving Facility Loans of any Class on a pro rata basis with all Lenders of such Class, and after giving effect to any Discounted Voluntary Prepayment, there shall be sufficient aggregate
Revolving Facility Commitments among the Revolving Facility Lenders to apply to the Outstanding Amount of the L/C Obligations as of such date, unless the Borrower shall concurrently with the payment of the purchase price by the Borrower for such
Revolving Facility Loans, deposit cash collateral in an account with the Administrative Agent pursuant to Section 2.05(g) in the amount of any such excess Outstanding Amount of the L/C Obligations and (B) the Borrower shall deliver
to the Administrative Agent a certificate signed by a Responsible Officer of the Borrower stating (1) that no Event of Default has occurred and is continuing or would result from the Discounted Voluntary Prepayment (after giving effect to any
related waivers or amendments obtained in connection with such Discounted Voluntary Prepayment), (2) that each of the conditions to such Discounted Voluntary Prepayment contained in this Section 2.11(g) has been satisfied (or
waived), and (3) the aggregate principal amount of Term Loans and/or Revolving Facility Loans so prepaid pursuant to such Discounted Voluntary Prepayment. For the avoidance of doubt, as provided in Section 2.11(e), any Declined
Proceeds may be used for any purpose not otherwise prohibited by this Agreement. 
 (i) To the extent the Borrower seeks to
make a Discounted Voluntary Prepayment, the Borrower will provide written revocable notice to the Administrative Agent substantially in the form of Exhibit G (each, a “Discounted Prepayment Option Notice”) that the Borrower
desires to prepay Term Loans and/or repay Revolving Facility Loans of an applicable Class (with a corresponding permanent reduction in Revolving Facility Commitments of such Class) in each case in an aggregate principal amount specified therein by
the Borrower (each, a “Proposed Discounted Prepayment Amount”), in each case at a discount to the par value of such Term Loans and/or Revolving Facility Loans as specified below. The Proposed Discounted Prepayment Amount of Term
Loans or Revolving Facility Loans shall not be less than $10,000,000. The Discounted Prepayment Option Notice shall further specify with respect to the proposed Discounted Voluntary Prepayment: (A) the Proposed Discounted Prepayment Amount for
Term 

  
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Loans and/or Revolving Facility Loans of the applicable Class, (B) a discount range (which may be a single percentage) selected by the Borrower with respect to such proposed Discounted
Voluntary Prepayment equal to a percentage of par of the principal amount of Term Loans or Revolving Facility Loans of such Class (the “Discount Range”), and (C) the date by which Lenders are required to indicate their election
to participate in such proposed Discounted Voluntary Prepayment which shall be at least five Business Days following the date of the Discounted Prepayment Option Notice (the “Acceptance Date”). 

(ii) Upon receipt of a Discounted Prepayment Option Notice and receipt by the Administrative Agent of any required consent from
the L/C Issuer in accordance with Section 2.11(g)(ii), the Administrative Agent shall promptly notify each Lender thereof. On or prior to the Acceptance Date, each such Lender may specify by written notice substantially in the form of
Exhibit H (each, a “Lender Participation Notice”) to the Administrative Agent (A) a maximum discount to par (the “Acceptable Discount”) within the Discount Range (for example, a Lender specifying a
discount to par of 20% would accept a purchase price of 80% of the par value of the Loans to be prepaid) and (B) a maximum principal amount (subject to rounding requirements specified by the Administrative Agent) of Term Loans and/or Revolving
Facility Loans held by such Lender with respect to which such Lender is willing to permit a Discounted Voluntary Prepayment at the Acceptable Discount (“Offered Loans”). Based on the Acceptable Discounts and principal amounts of
Term Loans and/or Revolving Facility Loans of the applicable Class(es) specified by the Lenders in the applicable Lender Participation Notice, the Borrower, with the consent of the Administrative Agent, shall determine the applicable discount for
Term Loans and/or Revolving Facility Loans of the applicable Class(es) (the “Applicable Discount”), which Applicable Discount shall be (A) the percentage specified by the Borrower if the Borrower has selected a single
percentage pursuant to Section 2.11(g)(ii) for the Discounted Voluntary Prepayment or (B) otherwise, the highest Acceptable Discount at which the Borrower can pay the Proposed Discounted Prepayment Amount in full (determined by
adding the principal amounts of Offered Loans commencing with the Offered Loans with the highest Acceptable Discount); provided, however, that in the event that such Proposed Discounted Prepayment Amount cannot be repaid in full at any
Acceptable Discount, the Applicable Discount shall be the lowest Acceptable Discount specified by the Lenders that is within the Discount Range. The Applicable Discount shall be applicable for all Lenders who have offered to participate in the
Discounted Voluntary Prepayment and have Qualifying Loans (as defined below). Any Lender with outstanding Loans whose Lender Participation Notice is not received by the Administrative Agent by the Acceptance Date shall be deemed to have declined to
accept a Discounted Voluntary Prepayment of any of its Loans at any discount to their par value within the Applicable Discount. 

(iii) The Borrower shall make a Discounted Voluntary Prepayment by prepaying those Term Loans and/or Revolving Facility Loans
(or the respective portions thereof) (with, in the case of Revolving Facility Loans, a corresponding permanent reduction in Revolving Facility Commitments) of the applicable Class(es) offered by the Lenders (“Qualifying Lenders”)
that specify an Acceptable Discount that is equal to or greater than the Applicable Discount (“Qualifying Loans”) at the Applicable Discount; 

  
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provided that if the aggregate proceeds required to prepay all Qualifying Loans (disregarding any interest payable at such time) would exceed the amount of aggregate proceeds required to
prepay the Proposed Discounted Prepayment Amount, such amounts in each case calculated by applying the Applicable Discount, the Borrower shall prepay such Qualifying Loans ratably among the Qualifying Lenders based on their respective principal
amounts of such Qualifying Loans (subject to rounding requirements specified by the Administrative Agent). If the aggregate proceeds required to prepay all Qualifying Loans (disregarding any interest payable at such time) would be less than the
amount of aggregate proceeds required to prepay the Proposed Discounted Prepayment Amount, such amounts in each case calculated by applying the Applicable Discount, the Borrower shall prepay all Qualifying Loans. 

(iv) Each Discounted Voluntary Prepayment shall be made within five Business Days of the Acceptance Date (or such later date as
the Administrative Agent and the Borrower shall reasonably agree, given the time required to calculate the Applicable Discount and determine the amount and holders of Qualifying Loans), without premium or penalty (but subject to
Section 2.16), upon revocable notice substantially in the form of Exhibit I (each a “Discounted Voluntary Prepayment Notice”), delivered to the Administrative Agent no later than 3:00 P.M. Central Time, three
Business Days prior to the date of such Discounted Voluntary Prepayment, which notice shall specify the date and amount of the Discounted Voluntary Prepayment and the Applicable Discount determined by the Borrower and Administrative Agent in
accordance with this Section 2.11. Upon receipt of any Discounted Voluntary Prepayment Notice the Administrative Agent shall promptly notify each relevant Lender thereof. If any Discounted Voluntary Prepayment Notice is given, the amount
specified in such notice shall, unless revoked, be due and payable to the applicable Lenders, subject to the Applicable Discount on the applicable Loans, on the date specified therein together with accrued interest (on the par principal amount) to
but not including such date on the amount prepaid. 
 (v) To the extent not expressly provided for herein, each Discounted
Voluntary Prepayment shall be consummated pursuant to reasonable procedures (including as to timing, rounding, minimum amounts, Type and Interest Periods and calculation of Applicable Discount in accordance with Section 2.11(g)(iii)
above) established by the Administrative Agent in consultation with the Borrower. 
 (vi) Prior to the delivery of a
Discounted Voluntary Prepayment Notice, upon written notice to the Administrative Agent, (A) the Borrower may withdraw its offer to make a Discounted Voluntary Prepayment pursuant to any Discounted Prepayment Option Notice and (B) any
Lender may withdraw its offer to participate in a Discounted Voluntary Prepayment pursuant to any Lender Participation Notice. 

Section 2.12 Fees. 

(a) The Borrower agrees to pay to each Revolving Facility Lender (other than any Defaulting Lender), through the Administrative Agent, on the
date that is three Business Days after the last Business Day of March, June, September and December in each year, and the date 

  
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on which the Revolving Facility Commitments of such Revolving Facility Lender shall be terminated as provided herein, a commitment fee in Dollars (a “Commitment Fee”) on the
daily amount of the Available Unused Commitment of such Revolving Facility Lender during the preceding quarter (or other period commencing with the Closing Date or ending with the date on which the last of the Commitments of such Revolving Facility
Lender shall be terminated) at a rate equal to the Applicable Commitment Fee with respect to such Revolving Facility Lender. All Commitment Fees shall be computed on the basis of the actual number of days elapsed in a year of 360 days. For the
purpose of calculating any Revolving Facility Lender’s Commitment Fee (other than with respect to the Swingline Lender), the outstanding Swingline Loans during the period for which such Revolving Facility Lender’s Commitment Fee is
calculated shall be deemed to be zero. The Commitment Fee due to each Revolving Facility Lender shall commence to accrue on the Closing Date and shall cease to accrue on the date on which the last of the Commitments of such Revolving Facility Lender
shall be terminated as provided herein. 
 (b) The Borrower from time to time agrees to pay (i) to each Revolving Facility Lender
(other than any Defaulting Lender; provided that at any time that an L/C Issuer has Fronting Exposure to a Defaulting Lender, until such Fronting Exposure has been reduced to zero, the L/C Participation Fee attributable to such Fronting
Exposure in respect of Letters of Credit issued by such L/C Issuer shall be payable to such L/C Issuer) under any Revolving Facility, through the Administrative Agent, three Business Days after the last day of March, June, September and December of
each year and three Business Days after the date on which the Revolving Facility Commitments of all the Lenders under such Revolving Facility shall be terminated as provided herein, a fee (an “L/C Participation Fee”) on such
Lender’s Revolving Facility Percentage of the daily aggregate Outstanding Amount of L/C Obligations (excluding the portion thereof attributable to Unreimbursed Amounts) of such Class, during the preceding quarter (or shorter period commencing
with the Closing Date or ending with the Revolving Facility Maturity Date with respect to such Revolving Facility or the date on which the Revolving Facility Commitments of such Class shall be terminated) at the rate per annum equal to the
Applicable Margin for Eurocurrency Revolving Facility Borrowings of such Class made by such Lender effective for each day in such period and (ii) to each L/C Issuer, for its own account (x) three Business Days after the last Business Day
of March, June, September and December of each year and on the date on which the Revolving Facility Commitments of all the Lenders shall be terminated as provided herein, a fronting fee in Dollars in respect of each Letter of Credit issued by such
L/C Issuer for the period from and including the date of issuance of such Letter of Credit to and including the termination of such Letter of Credit, computed at a rate equal to 1/8 of 1% per annum of the daily stated amount of such Letter of
Credit), plus (y) in connection with the issuance, amendment or transfer of any such Letter of Credit or any drawing thereunder, such L/C Issuer’s customary documentary and processing fees and charges (collectively, “L/C Issuer
Fees”). All L/C Participation Fees and L/C Issuer Fees shall be computed on the basis of the actual number of days elapsed in a year of 360 days. 

(c) The Borrower agrees to pay to the Administrative Agent, for the account of the Administrative Agent, the agency fees set forth in the Fee
Letter, as amended, modified, waived or supplemented from time to time, at the times specified therein (the “Administrative Agent Fees”). 

  
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 (d) All Fees shall be paid on the dates due, in immediately available funds, to the
Administrative Agent for distribution, if and as appropriate, among the Lenders, except that L/C Issuer Fees shall be paid directly to the applicable L/C Issuers. Once paid, none of the Fees shall be refundable under any circumstances. 

Section 2.13 Interest. 

(a) (a) The Loans comprising each ABR Borrowing (including each Swingline Loan) shall bear interest at the ABR plus the Applicable Margin.

 (b) The Loans comprising each Eurocurrency Borrowing shall bear interest at the Adjusted Eurocurrency Rate for the Interest Period in
effect for such Borrowing plus the Applicable Margin. 
 (c) Notwithstanding the foregoing, if any principal of or interest or premium
(including any applicable Prepayment Premium) on any Loan or any Fees or other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after
as well as before judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or (ii) in the case of
any other overdue amount, 2% plus the rate applicable to ABR Loans as provided in paragraph (a) of this Section; provided, that this paragraph (c) shall not apply to any Event of Default that has been waived by the Lenders pursuant
to Section 9.08. 
 (d) Accrued interest on each Loan shall be payable in arrears (i) on each Interest Payment Date for
such Loan, (ii) in the case of Revolving Facility Loans under any Revolving Facility, upon termination of the Revolving Facility Commitments with respect to such Revolving Facility, and (iii) in the case of the Term Loans, on the
applicable Term Facility Maturity Date; provided, that (x) interest accrued pursuant to paragraph (c) of this Section shall be payable on demand and (y) in the event of any repayment or prepayment of any Loan (other than a
prepayment of an ABR Loan (including any Swingline Loan) prior to the end of the Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment. 

(e) All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the ABR
at times when the ABR is based on the Prime Rate under clause (b) of the definition of ABR shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days
elapsed (including the first day but excluding the last day). The applicable ABR, Adjusted Eurocurrency Rate or Eurocurrency Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error. 

Section 2.14 Alternate Rate of Interest. If prior to the commencement of any Interest Period for a Eurocurrency Borrowing: 

(a) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do
not exist for ascertaining the Adjusted Eurocurrency Rate, as applicable, for such Interest Period; or 

  
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 (b) the Administrative Agent is advised in writing by the Required Lenders or the Majority
Lenders under the Revolving Facility that the Adjusted Eurocurrency Rate for such Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such Interest
Period; 
 then the Administrative Agent shall give written notice thereof to the Borrower and the Lenders by electronic means (including the Platform) as
promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of
any Borrowing to, or continuation of any Borrowing as, a Eurocurrency Borrowing denominated in the applicable currency shall be ineffective and in the case of any Borrowing denominated in Dollars, such Borrowing shall be converted to or continued as
on the last day of the Interest Period applicable thereto as an ABR Borrowing and (ii) if any Borrowing Request requests a Eurocurrency Borrowing in Dollars, such Borrowing shall be made as an ABR Borrowing. 

Section 2.15 Increased Costs. 

(a) If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit or similar requirement against assets of, deposits with or
for the account of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted Eurocurrency Rate) or L/C Issuer; 

(ii) subject any Lender or L/C Issuer to any Tax with respect to any Loan Document or any Eurocurrency Loan made by it or any
Letter of Credit or participation therein (other than Taxes indemnifiable under Section 2.17 or Taxes described in clauses (c) through (e) of the definition of Excluded Taxes); or 

(iii) impose on any Lender or the L/C Issuer or the London interbank market any other condition affecting this Agreement or
Eurocurrency Loans made by such Lender or any Letter of Credit or participation therein; 
 and the result of any of the foregoing shall be to increase the
cost to such Lender of making or maintaining any Eurocurrency Loan (or of maintaining its obligation to make any such Loan) or to increase the cost to such Lender or L/C Issuer of participating in, issuing or maintaining any Letter of Credit or to
reduce the amount of any sum received or receivable by such Lender or L/C Issuer hereunder (whether of principal, interest or otherwise), then the Borrower will pay to such Lender or L/C Issuer, as applicable, such additional amount or amounts as
will compensate such Lender or L/C Issuer, as applicable, for such additional costs incurred or reduction suffered. 
 (b) If any Lender or
L/C Issuer determines that any Change in Law regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s or L/C Issuer’s capital or on the capital of such Lender’s or L/C Issuer’s
holding company, if any, as a consequence of this Agreement or the Loans made by, or participations in Letters of Credit or Swingline Loans held by, such Lender, or the Letters of Credit issued by such L/C Issuer, to a level below that which such
Lender or such L/C Issuer or such Lender’s or such L/C Issuer’s holding company could have achieved but for such Change in Law (taking into consideration 

  
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such Lender’s or such L/C Issuer’s policies and the policies of such Lender’s or such L/C Issuer’s holding company with respect to capital adequacy), then from time to time
the Borrower shall pay to such Lender or such L/C Issuer, as applicable, such additional amount or amounts as will compensate such Lender or such L/C Issuer or such Lender’s or such L/C Issuer’s holding company for any such reduction
suffered. 
 (c) A certificate of a Lender or an L/C Issuer setting forth the amount or amounts necessary to compensate such Lender or L/C
Issuer or its holding company, as applicable, as specified in paragraph (a) or (b) of this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender or L/C Issuer, as
applicable, the amount shown as due on any such certificate within 15 days after receipt thereof. 
 (d) Promptly after any Lender or any
L/C Issuer has determined that it will make a request for increased compensation pursuant to this Section 2.15, such Lender or L/C Issuer shall notify the Borrower thereof. Failure or delay on the part of any Lender or L/C Issuer to
demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s or L/C Issuer’s right to demand such compensation; provided, that the Borrower shall not be required to compensate a Lender or an L/C Issuer
pursuant to this Section for any increased costs or reductions incurred more than 180 days prior to the date that such Lender or L/C Issuer, as applicable, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions
and of such Lender’s or L/C Issuer’s intention to claim compensation therefor; provided, further, that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 180-day period referred
to above shall be extended to include the period of retroactive effect thereof. 
 Section 2.16 Break Funding Payments. In the
event of (a) the payment of any principal of any Eurocurrency Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the failure to borrow, convert, continue or prepay
any Eurocurrency Loan on the date specified in any notice delivered pursuant hereto, or (c) the assignment of any Eurocurrency Loan other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrower
pursuant to Section 2.19, then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense (other than lost profits) attributable to such event. In the case of a Eurocurrency Loan, such loss, cost or
expense to any Lender shall be deemed to be the amount determined by such Lender (it being understood that the deemed amount shall not exceed the actual amount and shall not include lost profits) to be the excess, if any, of (i) the amount of
interest which would have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted Eurocurrency Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the
then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue a Eurocurrency Loan, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue
on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of such period, for deposits in dollars of a comparable amount and period from other banks in the Eurocurrency market. A
certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the
amount shown as due on any such certificate within 15 days after receipt thereof. 

  
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 Section 2.17 Taxes. 

(a) Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be made free and clear of and
without withholding or deduction for any Taxes except as required by law; provided, that if any applicable withholding agent shall be required by applicable law to withhold or deduct any Taxes in respect of any such payments, then (i) if such
Tax is an Indemnified Tax or Other Tax, the sum payable by the applicable Loan Party shall be increased as necessary so that after all required withholding or deductions have been made (including withholding or deductions with respect to Indemnified
Taxes applicable to additional sums payable under this Section 2.17) the applicable Lender (or, in the case of a payment to the Administrative Agent for its own account, the Administrative Agent), receives an amount equal to the sum it
would have received had no such withholding or deductions been made, (ii) the applicable withholding agent shall make such withholding or deductions, and (iii) the applicable withholding agent shall timely pay the full amount withheld or
deducted to the relevant Governmental Authority in accordance with applicable law. 
 (b) In addition, the Loan Parties shall pay any Other
Taxes to the relevant Governmental Authority in accordance with applicable law. 
 (c) Each Loan Party shall jointly and severally indemnify
the Administrative Agent and each Lender, within 15 days after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes payable or paid by the Administrative Agent or such Lender, as applicable (including Indemnified
Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section 2.17), and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to such Loan Party by a Lender, or by the Administrative Agent on its own behalf, on behalf of
another Agent or on behalf of a Lender, shall be conclusive absent manifest error. 
 (d) As soon as practicable after any payment of
Indemnified Taxes or Other Taxes by a Loan Party to a Governmental Authority, such Loan Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a
copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 
 (e) Each
Foreign Lender shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the
Administrative Agent), two executed copies of whichever of the following is applicable: (i) duly completed copies of Internal Revenue Service Form W-8BEN or W-8BEN-E (or any subsequent versions thereof or successors thereto), claiming
eligibility for benefits of an income tax treaty to which the United States of America is a party; (ii) duly completed copies of Internal Revenue Service Form W-8ECI (or any subsequent versions thereof or successors thereto); (iii) in the
case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 871(h) or 881(c) of the Code, (x) a certificate in a form reasonably satisfactory to the Administrative Agent (a “Non-Bank
Certificate”) and (y) duly completed copies of Internal 

  
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Revenue Service Form W-8BEN or W-8BEN-E (or any subsequent versions thereof or successors thereto); (iv) to the extent the Foreign Lender is not the beneficial owner (e.g., where the Foreign
Lender is a partnership or participating Lender), duly completed copies of Internal Revenue Service Form W-8IMY, together with appropriate forms and certificates described in Sections 2.17(e)(i) through (iii) and any additional
Form W-8IMYs, withholding statements and other information as may be required by law (provided that, where a Foreign Lender is a partnership (and not a participating Lender) and one or more of its direct or indirect partners are claiming the
portfolio interest exemption, the Foreign Lender may provide the Non-Bank Certificate on behalf of such direct or indirect partners); or (v) any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in
United States federal withholding tax duly completed together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be
made. 
 (f) Each U.S. Lender shall deliver to the Borrower and the Administrative Agent two duly completed copies of Internal Revenue
Service Form W-9 (or any subsequent versions thereof or successors thereto) certifying that such U.S. Lender is exempt from U.S. federal backup withholding on or before the date such U.S. Lender becomes a party and upon the expiration of any form
previously delivered by such U.S. Lender. 
 (g) If a payment made to a Lender under any Loan Document would be subject to U.S. federal
withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the
Borrower and the Administrative Agent, at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent, such documentation prescribed by applicable law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower or the Administrative Agent to comply with their obligations under
FATCA, to determine whether such Lender has complied with such Lender’s obligations under FATCA and to determine the amount, if any, to deduct and withhold from such payment. Solely for purposes of this clause (g), “FATCA”
shall include any amendments made to FATCA after the date of this Agreement 
 (h) Notwithstanding any other provision of Sections
2.17(e), (f) or (g), a Lender shall not be required to deliver any form or documentation that such Lender is not legally eligible to deliver or that would, in such Lender’s reasonable judgment, subject such Lender to any
material unreimbursed cost or expense or that would materially prejudice the legal or commercial position of such Lender. 
 (i) Each Lender
shall, whenever a lapse in time or change in circumstances renders any documentation previously provided pursuant to Sections 2.17(e), (f) or (g) obsolete, expired or inaccurate in any respect, deliver promptly to the
Borrower and the Administrative Agent updated or other appropriate documentation (including any new documentation reasonably requested by the Borrower or the Administrative Agent) or promptly notify the Borrower and the Administrative Agent in
writing of its legal ineligibility to do so. 

  
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 (j) If the Borrower in good faith determines that a reasonable basis exists for contesting an
Indemnified Tax or Other Tax for amounts with respect to which a Loan Party has already paid additional amounts or made indemnification payments, each affected Lender or the Administrative Agent, as the case may be, shall use reasonable efforts to
cooperate with the Borrower as the Borrower may reasonably request in contesting such Tax; provided that nothing in this Section 2.17(j) shall obligate any Lender or the Administrative Agent to take any action that such Person, in
its sole judgment, determines may result in a material detriment to such Person. The Borrower shall indemnify and hold each Lender and the Administrative Agent harmless against any Taxes or out-of-pocket expenses incurred by such Person in
connection with any request made by the Borrower pursuant to this Section 2.17(j). Any refund received from a successful contest shall be governed by Section 2.17(k). 

(k) If the Administrative Agent or a Lender determines, in its sole discretion exercised in good faith, that it has received a refund of any
Indemnified Taxes or Other Taxes as to which it has been indemnified by a Loan Party or with respect to which such Loan Party has paid additional amounts pursuant to this Section 2.17, it shall pay over such refund to such Loan Party
(but only to the extent of indemnity payments made, or additional amounts paid, by such Loan Party under this Section 2.17 with respect to the Indemnified Taxes or Other Taxes giving rise to such refund), net of all reasonable
out-of-pocket expenses of the Administrative Agent or such Lender (including any Taxes imposed with respect to such refund) as is determined by the Administrative Agent or Lender in good faith, and without interest (other than any interest paid by
the relevant Governmental Authority with respect to such refund); provided, that such Loan Party, upon the request of the Administrative Agent or such Lender, agrees to repay as soon as reasonably practicable the amount paid over to such Loan
Party (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such refund to such
Governmental Authority. In such event, such Lender or the Administrative Agent, as the case may be, shall, at the applicable Loan Party’s request, provide such Loan Party with a copy of any notice of assessment or other evidence of the
requirement to repay such refund received from the relevant Governmental Authority (provided that such Lender or the Administrative Agent may delete any information therein that it deems confidential), and provided further that such Lender or
the Administrative Agent shall not be required to deliver any form or documentation that such Lender or Administrative Agent is not legally eligible to deliver or that would, in the reasonable judgment of such Lender or Administrative Agent, subject
such Lender or the Administrative Agent to any material unreimbursed cost or expense or that would materially prejudice the legal or commercial position of such Lender or Administrative Agent). A Lender or the Administrative Agent shall claim any
refund that it determines is available to it, unless it concludes in its sole discretion that it would be adversely affected by making such a claim. This Section 2.17(k) shall not be construed to require the Administrative Agent or any
Lender to make available its Tax returns (or any other information relating to its Taxes which it deems in good faith to be confidential) to the Loan Parties or any other Person. Notwithstanding anything to the contrary, in no event will any Lender
be required to pay any amount to a Loan Party the payment of which would place such Lender in a less favorable net after tax position than such Lender would have been in if the additional amounts giving rise to such refund of any Indemnified Taxes
or Other Taxes had never been paid. 

  
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 (l) If any Administrative Agent is a “United States Person”, it shall provide
the Borrower, on or before the date on which it becomes a party to this Agreement, with two duly completed executed copies of Internal Revenue Service Form W-9 (or any successor form) certifying that such Administrative Agent is exempt from U.S.
federal backup withholding. If any Administrative Agent is not a “United States Person”, on or before the date on which it becomes a party to this Agreement, it shall provide (1) Internal Revenue Service Form W-8ECI (or any
successor form) with respect to payments to be received by it as a beneficial owner and (2) Internal Revenue Service Form W-8IMY (or any successor form), together with required accompanying documentation, with respect to payments to be received
by it on behalf of the Lenders. Each Administrative Agent shall, whenever a lapse in time or change in circumstances renders any documentation previously provided pursuant to Section 2.17(l) obsolete, expired or inaccurate in any
respect, deliver promptly to the Borrower updated or other appropriate documentation (including any new documentation reasonably requested by the Borrower) or promptly notify the Borrower in writing of its legal ineligibility to do so.
Notwithstanding anything to the contrary, nothing in this Section 2.17(l) shall require any Administrative Agent to provide any documentation that it is not legally eligible to provide as a result of any Change of Law after the date
hereof. 
 (m) For the avoidance of doubt, the term “Lender” shall, for purposes of this Section 2.17, include any
L/C Issuer and any Swingline Lender. 
 Section 2.18 Payments Generally; Pro Rata Treatment; Sharing of Set-offs. 

(a) The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest, fees or reimbursement of
drawings under Letters of Credit, or of amounts payable under Sections 2.15, 2.16, or 2.17, or otherwise) without condition or deduction for any defense, recoupment, set-off or counterclaim. Except as otherwise expressly
provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the applicable Administrative Agent’s Office in Dollars and in Same
Day Funds not later than 2:00 p.m., Central Time, on the date specified herein. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day
for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent to the applicable account designated to the Borrower by the Administrative Agent, except payments to be made directly to the applicable L/C
Issuer or the Swingline Lender as expressly provided herein and except that payments pursuant to Sections 2.15, 2.16, 2.17 and 9.05 shall be made directly to the Persons entitled thereto. Without limiting the generality
of the foregoing, the Administrative Agent may require that any payments due under this Agreement be made in the United States. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the
appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing
interest, interest thereon shall be payable for the period of such extension. Any payment required to be made by the Administrative Agent hereunder shall be deemed to have been made by the time required if the Administrative Agent shall, at or
before such time, have taken the necessary steps to make such payment in accordance with the regulations or operating procedures of the clearing or settlement system used by the Administrative Agent to make such payment. 

  
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 (b) If at any time insufficient funds are received by and available to the Administrative Agent
from the Borrower to pay fully all amounts of principal, Unreimbursed Amounts, interest and fees then due from the Borrower hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due from the Borrower
hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties and (ii) second, towards payment of principal of Loans and Unreimbursed Amounts then due from the Borrower
hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and Unreimbursed Amounts then due to such parties. 

(c) If any Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal of or
interest on any of its Term Loans, Revolving Facility Loans or participations in Letters of Credit or Swingline Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Term Loans, Revolving Facility
Loans and participations in Letters of Credit and Swingline Loans and accrued interest thereon than the proportion received by any other Lender entitled thereto, then the Lender receiving such greater proportion shall purchase participations in the
Term Loans, Revolving Facility Loans and participations in Letters of Credit and Swingline Loans of other Lenders entitled thereto to the extent necessary so that the benefit of all such payments shall be shared by the Lenders entitled thereto
ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Term Loans, Revolving Facility Loans and participations in Letters of Credit and Swingline Loans; provided, that (i) if any such
participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest and (ii) the provisions
of this paragraph (c) shall not be construed to apply to (x) any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement (including, without limitation, pursuant to transactions in connection
with an open market purchase, Dutch Auction, Section 2.11(g), Section 9.04(i) and Section 2.19), (y) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any
of its Loans or participations in Letters of Credit to any assignee or participant, other than to the Borrower or any Subsidiary thereof (as to which the provisions of this paragraph (c) shall apply), and (z) transactions in connection
with any Extension, Incremental Term Facility, Incremental Revolving Facility Commitment, Replacement Revolving Facility or Refinancing Term Loan. The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under
applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a direct
creditor of the Borrower in the amount of such participation. 
 (d) Unless the Administrative Agent shall have received written notice from
the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the applicable L/C Issuer hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the
Borrower have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the applicable L/C Issuer, as applicable, the amount due. In such event, if the

  
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Borrower has not in fact made such payment, then each of the Lenders or the applicable L/C Issuer, as applicable, severally agrees to repay to the Administrative Agent forthwith on demand the
amount so distributed to such Lender or L/C Issuer with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the Overnight Rate. 

(e) If any Lender shall fail to make any payment required to be made by it pursuant to Sections 2.04(c), 2.05(d) or (e),
2.06(b) or 2.18(d), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such
Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid. 
 Section 2.19 Mitigation
Obligations; Replacement of Lenders. 
 (a) If any Lender requests compensation under Section 2.15, or if the Borrower is
required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different lending office for funding
or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or Affiliates, if, in the reasonable judgment of such Lender, such designation or assignment (i) would eliminate or reduce
amounts payable pursuant to Sections 2.15 or 2.17, as applicable, in the future and (ii) would not subject such Lender to any material unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender in any
material respect. The Borrower hereby agrees to pay promptly after written demand all reasonable out-of-pocket costs and expenses incurred by any Lender in connection with any such designation or assignment. 

(b) If any Lender requests compensation under Section 2.15, or if the Borrower is required to pay any additional amount to any
Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, or if any Lender is a Defaulting Lender, or if any Lender is the subject of a Disqualification, then the Borrower may, at its sole expense and
effort, upon written notice to such Lender and the Administrative Agent, prepay an amount equal to the outstanding principal of such Lender’s Loans and participations in L/C Obligations and Swingline Loans on a non-pro rata basis, accrued
interest thereon, accrued fees and all other amounts payable to such Lender hereunder or require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 9.04), all its
interests, rights (other than its existing rights to payments pursuant to Sections 2.15 and 2.17) and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender
accepts such assignment); provided, that (i) the Borrower shall have received the prior written consent of the Administrative Agent (and, if in respect of any Revolving Facility Commitment or Revolving Facility Loan, the Swingline Lender
and the L/C Issuer), in each case solely to the extent such consent would be required pursuant to Section 9.04, which consent shall not unreasonably be withheld, conditioned, denied or delayed, (ii) such Lender shall have received
payment of an amount equal to the outstanding principal of its Loans and participations in L/C Obligations and Swingline Loans on a non-pro rata basis, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the
assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts), and (iii) in the case of any such assignment 

  
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resulting from a claim for compensation under Section 2.15 or payments required to be made pursuant to Section 2.17, such assignment will result in a reduction in such
compensation or payments. Nothing in this Section 2.19 shall be deemed to prejudice any rights that the Borrower may have against any Lender that is a Defaulting Lender. No action by or consent of the removed Lender shall be necessary in
connection with such assignment, which shall be immediately and automatically effective upon payment of such purchase price. In connection with any such assignment the Borrower, Administrative Agent, such removed Lender and the replacement Lender
shall otherwise comply with Section 9.04; provided, that if such removed Lender does not comply with Section 9.04 within one Business Day after the Borrower’s request, compliance with Section 9.04
shall not be required to effect such assignment. A Lender shall not be required to make any assignment or delegation pursuant to this Section 2.19(b) if, prior thereto, as a result of a waiver by such Lender or otherwise, the
circumstances entitling the Borrower to require such assignment and delegation cease to apply. 
 (c) If any Lender (such Lender, a
“Non-Consenting Lender”) has failed to consent to a proposed amendment, waiver, discharge or termination which pursuant to the terms of Section 9.08 requires the consent of all of the Lenders or all of the Lenders
directly and affected and with respect to which the Required Lenders (or more than 50% of such affected Lenders) shall have granted their consent, then the Borrower shall have the right (unless such Non-Consenting Lender grants such consent) at its
sole expense (including with respect to the processing and recordation fee referred to in Section 9.04(b)(ii)(B)) to (x) with respect to a Revolving Lender, terminate any unused Revolving Commitment of such Non-Consenting Lender and
repay the Revolving Loans on a non-pro rata basis or (y) replace such Non-Consenting Lender by deeming such Non-Consenting Lender to have assigned its Loans, and its Commitments hereunder to one or more assignees reasonably acceptable to
(i) the Administrative Agent (unless, in the case of an assignment of Term Loans, such assignee is a Lender, an Affiliate of a Lender or an Approved Fund) and (ii) if in respect of any Revolving Facility Commitment or Revolving Facility
Loan, the Swingline Lender and the L/C Issuer); provided, that: (a) all Obligations of the Borrower owing to such Non-Consenting Lender being replaced shall be paid in full to such Non-Consenting Lender concurrently with such assignment
(including any amount payable pursuant to Section 2.11(a)) and (b) the replacement Lender shall purchase the foregoing by paying to such Non-Consenting Lender a price equal to the principal amount thereof plus accrued and unpaid
interest thereon. No action by or consent of the Non-Consenting Lender shall be necessary in connection with such assignment, which shall be immediately and automatically effective upon payment of such purchase price. In connection with any such
assignment the Borrower, Administrative Agent, such Non-Consenting Lender and the replacement Lender shall otherwise comply with Section 9.04; provided, that if such Non-Consenting Lender does not comply with
Section 9.04 within one Business Day after the Borrower’s request, compliance with Section 9.04 shall not be required to effect such assignment. 

Section 2.20 Illegality. If any Lender reasonably determines that any Change in Law has made it unlawful, or that any Governmental
Authority has asserted after the Closing Date that it is unlawful, for any Lender or its applicable lending office to make or maintain any Eurocurrency Loans in any currency, then, on written notice thereof by such Lender to the Borrower through the
Administrative Agent, any obligations of such Lender to make or continue Eurocurrency Loans in such currency or to convert ABR Borrowings to Eurocurrency Borrowings shall be suspended until such Lender notifies the Administrative Agent and the

  
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Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, the Borrower shall upon demand from such Lender (with a copy to the Administrative
Agent) to either (i) in the case of Loans denominated in Dollars if the affected Lender may lawfully continue to maintain such Loans as Eurocurrency Loans until the last day of such Interest Period, convert all Eurocurrency Loans of such Lender
to ABR Loans on the last day of such Interest Period (or, otherwise, immediately convert such Eurocurrency Loans to ABR Loans) or (ii) prepay such Eurocurrency Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued
interest on the amount so prepaid or converted. 
 Section 2.21 Incremental Commitments. 

(a) The Borrower may, by written notice to the Administrative Agent from time to time, request Incremental Term Loan Commitments or
Incremental Revolving Facility Commitments, as applicable, in an amount not to exceed the Incremental Amount at the time such Incremental Commitments are established from one or more Incremental Term Lenders or Incremental Revolving Facility Lenders
(which may include any existing Lender) willing to provide such Incremental Term Loans or Incremental Revolving Facility Commitments, as the case may be, in their own discretion. Such notice shall set forth (i) the amount of the Incremental
Term Loan Commitments or Incremental Revolving Facility Commitments being requested (which shall be in minimum increments of $5,000,000 and a minimum amount of $1,000,000 or equal to the remaining Incremental Amount or in each case such lesser
amount approved by the Administrative Agent), (ii) the date on which such Incremental Term Loan Commitments or Incremental Revolving Facility Commitments are requested to become effective (the “Increased Amount Date”),
(iii) in the case of Incremental Term Loan Commitments, whether such Incremental Term Loan Commitments are to be commitments to make term loans with terms identical to Term B Loans or commitments to make term loans with pricing terms,
amortization, participation in mandatory prepayments or commitment reductions, maturity or other terms different from the Term B Loans (“Other Term Loans”), and (iv) in the case of Incremental Revolving Facility Commitments,
the terms of such the terms of such Revolving Loans, including pricing terms, participation in mandatory prepayments or commitment reductions and maturity. 

(b) The Borrower and each Incremental Term Lender or Incremental Revolving Facility Lender shall execute and deliver to the Administrative
Agent an Incremental Assumption Agreement, and such other documentation as the Administrative Agent shall reasonably specify to evidence the Incremental Term Loan Commitment of such Incremental Term Lender or Incremental Revolving Facility
Commitment of such Incremental Revolving Facility Lender. Each Incremental Assumption Agreement shall specify the terms of the applicable Incremental Term Loans or Incremental Revolving Facility Commitments; provided, that 

(i) except as to pricing, amortization, final maturity date, participation in mandatory prepayments and ranking as to security
(which shall, subject to clause (ii) through (iv) of this proviso, be determined by the Borrower and the Incremental Term Lenders in their sole discretion), the Other Term Loans shall have (x) the same terms as the Term B Loans, as
applicable, or (y) market terms (as determined in good faith by the Borrower) and as set forth in a certificate of a Financial Officer of the Borrower, 

  
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 (ii) the Other Term Loans shall be secured by Liens on the Collateral that rank
pari passu with the Liens on the Collateral securing the Term B Loans or, at the option of the Borrower, be secured by Liens on the Collateral that rank junior to the Liens on the Collateral securing the Term B Loans (provided, that if such
Other Term Loans are secured by Liens on the Collateral that rank junior to the Liens on the Collateral securing the Term B Loans, such Other Term Loans shall be subject to a Permitted Junior Intercreditor Agreement and, for the avoidance of doubt,
shall not be subject to clause (viii) below), 
 (iii) the final maturity date of any Other Term Loans shall be
no earlier than the latest Term B Facility Maturity Date in effect on the date of incurrence, 
 (iv) the weighted average
life to maturity of any Other Term Loans shall be no shorter than the remaining weighted average life to maturity of the Term B Loans, 

(v) except as to pricing, amortization, final maturity date, participation in mandatory prepayments and ranking as to security
(which shall, subject to clause (vi) and (vii) of this proviso, be determined by the Borrower and the Incremental Revolving Facility Lenders in their sole discretion and which, for the avoidance of doubt, may include a single financial
covenant which would be customary in the market for financings of such type (as determined by the Borrower in good faith)), the Revolving Loans shall have (x) substantially the same terms as the Term B Loans (other than the addition of a
Financial Performance Covenant) or (y) market terms (as determined in good faith by the Borrower) and as set forth in a certificate of a Financial Officer of the Borrower, 

(vi) the Revolving Loans shall be secured by Liens on the Collateral that rank pari passu with the Liens on the Collateral
securing the Term B Loans and other Revolving Loans or, at the option of the Borrower, secured by Liens on the Collateral that rank junior to the Liens on the Collateral securing the Term B Loans and other Revolving Loans (provided, that if
such Revolving Loans are secured by Liens on the Collateral that rank junior to the Liens securing the Term B Loans and/or other Revolving Loans, such Revolving Loans shall be subject to a Permitted Junior Intercreditor Agreement), 

(vii) the final maturity date of any Revolving Loans shall be no earlier than the Term B Facility Maturity Date as of the date
of the applicable Incremental Revolving Facility Assumption Agreement, and 
 (viii) with respect to any Other Term Loan that
ranks pari passu in right of security with the Initial Term B Loans, (x) if the proceeds of such Other Term Loan are used to finance the acquisition of the Option Properties, the All-in Yield may exceed the All-in Yield in respect of the
Initial Term B Loans, so long as: 
 (A) on the date of incurrence of such Other Term Loans, the Senior Secured Leverage
Ratio on a Pro Forma Basis does not exceed 5.41 to 1.00; or 

  
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 (B) in the event that on the date of incurrence of such Other Term Loans, the
Senior Secured Leverage Ratio on a Pro Forma Basis exceeds 5.41 to 1.00, then: 
 (1) if the Other Term Loans are incurred by a Loan Party
prior to the first anniversary of the Closing Date, the All-in Yield of the Initial Term B Loans shall be increased by an amount equal to the lesser of (A) 1.50% and (B) the difference between (i) the All-in Yield of such Other Term
Loans and (ii) the All-in Yield of the Initial Term B Loans; 
 (2) if the Other Term Loans are incurred by a Loan Party on or after
the first anniversary of the Closing Date but prior to the second anniversary of the Closing Date, the All-in Yield of the Initial Term B Loans shall be increased by an amount equal to the lesser of (A) 1.25% and (B) the difference between
(i) All-in Yield of such Other Term Loans and (ii) the All-in Yield of Initial Term B Loans; 
 (3) if the Other Term Loans are
incurred by a Loan Party on or after the second anniversary of the Effective Date but prior to third anniversary of the Closing Date, the All-in Yield of the Initial Term B Loans shall be increased by an amount equal to the lesser of (A) 0.75%
and (B) the difference between (i) All-in Yield of such Other Term Loans and (ii) the All-in Yield of Initial Term B Loans; and 

(4) if the Other Term Loans are incurred by a Loan Party on or after the third anniversary of the Effective Date but prior to fourth
anniversary of the Closing Date, the All-in Yield of the Initial Term B Loans shall be increased by an amount equal to the lesser of (A) 0.25% and (B) the difference between (i) All-in Yield of such Other Term Loans and (ii) the
All-in Yield of Initial Term B Loans: or 
 (C) the Other Term Loans are incurred after the fourth anniversary of the Closing
Date; or 
 (y) if the proceeds of such Other Term Loans are used for any other purposes not prohibited hereunder, then either (I) the
All-in Yield in respect of any such Other Term Loan may exceed the All-in Yield in respect of such Term B Loans on the Closing Date by no more than 0.50%; or (II) if the All-in Yield in respect of any such Other Term Loan does exceed the All-in
Yield in respect of such Term B Loans on the Closing Date by more than 0.50% (such difference, the “Term Yield Differential”) then the Applicable Margin (or the “LIBOR floor” as provided in the following proviso)
applicable to such Initial Term B Loans shall be increased such that after giving effect to such increase, the Term Yield Differential shall not exceed 0.50%; provided that, to the extent any portion of the Term Yield Differential is attributable to
a higher “LIBOR floor” being applicable to such Other Term Loans, such floor shall only be included in the calculation of the Term Yield Differential to the extent such floor is greater than the Adjusted

  
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Eurocurrency Rate in effect for an Interest Period of three months’ duration at such time, and, with respect to such excess, the “LIBOR floor” applicable to the outstanding Term B
Loans shall be increased to an amount not to exceed the “LIBOR floor” applicable to such Other Term Loans prior to any increase in the Applicable Margin applicable to such Initial Term B Loans then outstanding, 

provided, the requirements of the foregoing clauses (iii) and (iv) shall not apply to any customary bridge facility so long as
the Indebtedness into which such customary bridge facility is to be converted complies with such requirements. 
 Each of the parties hereto hereby agrees
that, upon the effectiveness of any Incremental Assumption Agreement, this Agreement shall be amended to the extent (but only to the extent) necessary (as determined in good faith by the Borrower) to reflect the existence and terms of the
Incremental Term Loan Commitments or Incremental Revolving Facility Commitments evidenced thereby as provided for in Section 9.08(e). Any amendment to this Agreement or any other Loan Document that is necessary to effect the provisions
of this Section 2.21 and any such collateral and other documentation shall be deemed “Loan Documents” hereunder and such deemed amendment may be memorialized in writing by the Administrative Agent with the
Borrower’s consent and furnished to the other parties hereto. 
 (c) Notwithstanding the foregoing, no Incremental Term Loan Commitment
or Incremental Revolving Facility Commitment shall become effective under this Section 2.21 unless on the date of such effectiveness, no Event of Default shall have occurred and be continuing or would result therefrom or, solely with
respect to an Incremental Term Loan Commitment or Incremental Revolving Facility Commitment the proceeds of which are intended to and shall be used to financing substantially contemporaneously a Limited Condition Transaction, the Persons providing
such Incremental Term Loan Commitment or Incremental Revolving Facility Commitment may agree to a “certain funds” provision that does not impose as a condition to funding thereof that no Event of Default exists at the time such Limited
Condition Transaction is consummated, in which event, the condition shall be that no Event of Default exists on the date on which the related acquisition agreement is executed and becomes effective. 

(d) Each of the parties hereto hereby agrees that the Administrative Agent may take any and all action as may be reasonably necessary to
ensure that (i) all Incremental Term Loans (other than Other Term Loans), when originally made, are included in each Borrowing of the outstanding applicable Class of Term Loans on a pro rata basis and (ii) all Revolving Facility Loans in
respect of Incremental Revolving Facility Commitments, (x) when originally made, are included in each Borrowing of the applicable Class of outstanding Revolving Facility Loans on a pro rata basis and (y) provide for necessary or
appropriate mechanical changes to the Loan Documents to accommodate such Revolving Loans, including with respect to timing for requests for Borrowings of Revolving Loans or repayments thereof or minimum amounts of Revolving Loans. The Borrower
agrees that Section 2.16 shall apply to any conversion of Eurocurrency Loans to ABR Loans reasonably required by the Administrative Agent to effect the foregoing. 

  
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 (e) Notwithstanding anything to the contrary in this Agreement, including Sections 2.11(a)
or 2.18(c) (which provisions shall not be applicable to clauses (e) through (i) of this Section 2.21), pursuant to one or more offers made from time to time by the Borrower to all Lenders of any Class of Term Loans or
Revolving Facility Commitments, on a pro rata basis (based, in the case of an offer to the Lenders under any Class of Term Loans, on the aggregate outstanding Term Loans of such Class and, in the case of an offer to the Lenders under any Revolving
Facility, on the aggregate outstanding Revolving Facility Commitments under such Revolving Facility, as applicable) and on the same terms (“Pro Rata Extension Offers”), the Borrower is hereby permitted to consummate transactions
with individual Lenders from time to time to extend the maturity date of such Lender’s Loans or Commitments of such Class and to otherwise modify the terms of such Lender’s Loans or Commitments of such Class pursuant to the terms of the
relevant Pro Rata Extension Offer (including without limitation increasing the interest rate or fees payable in respect of such Lender’s Loans or Commitments or modifying the amortization schedule in respect of such Lender’s Loans). For
the avoidance of doubt, the reference to “on the same terms” in the preceding sentence shall mean, in the case of an offer to the Lenders under any Class of Term Loans, that all of the Term Loans of such Class and, in the case of an offer
to the Lenders under any Revolving Facility, that all of the Revolving Facility Commitments in respect of such Revolving Facility are, in each case, offered to be extended for the same amount of time and that the interest rate changes and fees
payable with respect to such extension are the same. Any such extension (an “Extension”) agreed to between the Borrower and any such Lender (an “Extending Lender”) will be established under this Agreement by
implementing an Incremental Term Loan for such Lender (if such Lender is extending an existing Term Loan (such extended Term Loan, an “Extended Term Loan”)) or an Incremental Revolving Facility Commitment for such Lender (if such
Lender is extending an existing Revolving Facility Commitment (such extended Revolving Facility Commitment, an “Extended Revolving Facility Commitment” and the loans thereunder, “Extended Revolving Loans”)). 

(f) The Borrower and each Extending Lender shall execute and deliver to the Administrative Agent an Incremental Assumption Agreement and such
other documentation as the Administrative Agent shall reasonably specify to evidence the Extended Term Loans and/or Extended Revolving Facility Commitments of such Extending Lender. Each Incremental Assumption Agreement shall specify the terms of
the applicable Extended Term Loans and/or Extended Revolving Facility Commitments; provided that (i) except as to interest rates, fees, any other pricing terms, amortization, final maturity date and participation in prepayments and
commitment reductions (which shall, subject to clauses (ii) and (iii) of this proviso, be determined by the Borrower and set forth in the Pro Rata Extension Offer), the Extended Term Loans shall have (x) the same terms as the existing
Class of Term Loans, (y) terms consistent with current market terms (as determined in good faith by the Borrower) and as set forth in a certificate of a Financial Officer of the Borrower, or (z) such other terms as shall be reasonably
satisfactory to the Administrative Agent, (ii) the final maturity date of any Extended Term Loans shall be no earlier than the latest Term Facility Maturity Date in effect on the date of incurrence, (iii) the weighted average life to
maturity of any Extended Term Loans shall be no shorter than the remaining weighted average life to maturity of the Class of Term Loans to which such offer relates, (iv) except as to interest rates, fees, any other pricing terms, participation
in mandatory prepayments and commitment reductions and final maturity (which shall be determined by the Borrower and set forth in the Pro Rata Extension Offer), any Extended Revolving Facility Commitment shall have (x) the same terms as an
existing Class of Revolving Facility Commitments or (y) have such other terms as shall be reasonably satisfactory to the Administrative Agent, and (v) any Extended Term Loans and/or Extended Revolving Facility

  
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Commitments may participate on a pro rata basis or a less than pro rata basis (but not greater than a pro rata basis) in any voluntary or mandatory repayments or prepayments hereunder. Upon the
effectiveness of any Incremental Assumption Agreement, this Agreement shall be amended to the extent (but only to the extent) necessary to reflect the existence and terms of the Extended Term Loans and/or Extended Revolving Facility Commitments
evidenced thereby as provided for in Section 9.08(e). Any such deemed amendment may be memorialized in writing by the Administrative Agent with the Borrower’s consent and furnished to the other parties hereto. If provided in any
Incremental Assumption Agreement with respect to any Extended Revolving Facility Commitments, and with the consent of each Swingline Lender and L/C Issuer, participations in Swingline Loans and Letters of Credit shall be reallocated to lenders
holding such Extended Revolving Facility Commitments in the manner specified in such Incremental Assumption Agreement, including upon effectiveness of such Extended Revolving Facility Commitment or upon or prior to the maturity date for any Class of
Revolving Facility Commitments. 
 (g) Upon the effectiveness of any such Extension, the applicable Extending Lender’s Term Loan will
be automatically designated an Extended Term Loan and/or such Extending Lender’s Revolving Facility Commitment will be automatically designated an Extended Revolving Facility Commitment. For purposes of this Agreement and the other Loan
Documents, (i) if such Extending Lender is extending a Term Loan, such Extending Lender will be deemed to have an Incremental Term Loan having the terms of such Extended Term Loan and (ii) if such Extending Lender is extending a Revolving
Facility Commitment, such Extending Lender will be deemed to have an Incremental Revolving Facility Commitment having the terms of such Extended Revolving Facility Commitment. 

(h) Notwithstanding anything to the contrary set forth in this Agreement or any other Loan Document (including without limitation this
Section 2.21), (i) the aggregate amount of Extended Term Loans and Extended Revolving Facility Commitments will not be included in the calculation of the Incremental Amount, (ii) no Extended Term Loan or Extended Revolving
Facility Commitment is required to be in any minimum amount or any minimum increment, (iii) any Extending Lender may extend all or any portion of its Term Loans and/or Revolving Facility Commitment pursuant to one or more Pro Rata Extension
Offers (subject to applicable proration in the case of over participation) (including the extension of any Extended Term Loan and/or Extended Revolving Facility Commitment), (iv) there shall be no condition to any Extension of any Loan or
Commitment at any time or from time to time other than notice to the Administrative Agent of such Extension and the terms of the Extended Term Loan or Extended Revolving Facility Commitment implemented thereby, and (v) all Extended Term Loans,
Extended Revolving Facility Commitments and all obligations in respect thereof shall be Loan Obligations of the relevant Loan Parties under this Agreement and the other Loan Documents that are secured by the Collateral on a pari passu basis with all
other Obligations of the relevant Loan Parties under this Agreement and the other Loan Documents. 
 (i) Each Extension shall be consummated
pursuant to procedures set forth in the associated Pro Rata Extension Offer; provided that the Borrower shall cooperate with the Administrative Agent prior to making any Pro Rata Extension Offer to establish reasonable procedures with respect
to mechanical provisions relating to such Extension, including, without limitation, timing, rounding and other adjustments. 

  
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 (j) Notwithstanding anything to the contrary in this Agreement, including Sections 2.11(a)
or 2.18(c) (which provisions shall not be applicable to clause (j) through (o) of this Section 2.21), the Borrower may by written notice to the Administrative Agent establish one or more additional tranches of term loans
under this Agreement (such loans, “Refinancing Term Loans”), the net cash proceeds of which are used to Refinance in whole or in part any Class of Term Loans. Each such notice shall specify the date (each, a “Refinancing
Effective Date”) on which the Borrower proposes that the Refinancing Term Loans shall be made, which shall be a date not less than five Business Days after the date on which such notice is delivered to the Administrative Agent (or such
shorter period agreed to by the Administrative Agent in its reasonable discretion); provided that: (i) before and after giving effect to the borrowing of such Refinancing Term Loans on the Refinancing Effective Date each of the
conditions set forth in Section 4.01 shall be satisfied to the extent required by the relevant Incremental Assumption Agreement governing such Refinancing Term Loans (except that no Default or Event of Default pursuant to Sections
7.01(b), (c), (h) or (i) shall have occurred and be continuing), (ii) the weighted average life to maturity of such Refinancing Term Loans shall be no shorter than the then remaining weighted average life to
maturity of the refinanced Term Loans, and (iii) all other terms applicable to such Refinancing Term Loans (other than provisions relating to original issue discount, upfront fees, interest rates or any other pricing terms and optional
prepayment or mandatory prepayment or redemption terms and final maturity which shall be as agreed between the Borrower and the Lenders providing such Refinancing Term Loans) taken as a whole shall be consistent with current market terms (as
determined in good faith by the Borrower) and as set forth in a certificate of a Financial Officer of the Borrower (except to the extent such covenants and other terms apply solely to any period after the latest final maturity of the Term Loans in
effect on the date of incurrence of such Refinancing Term Loans), as determined by the Borrower in good faith. 
 (k) The Borrower may
approach any Lender or any other Person that would be a permitted Assignee pursuant to Section 9.04 to provide all or a portion of the Refinancing Term Loans; provided that any Lender offered or approached to provide all or a
portion of the Refinancing Term Loans may elect or decline, in its sole discretion, to provide a Refinancing Term Loan. Any Refinancing Term Loans made on any Refinancing Effective Date shall be designated an additional Class of Term Loans for all
purposes of this Agreement; provided that any Refinancing Term Loans may, to the extent provided in the applicable Incremental Assumption Agreement, be designated as an increase in any previously established Class of Term Loans made to the
Borrower. 
 (l) Notwithstanding anything to the contrary in this Agreement, including Sections 2.11(a) and 2.18(c) (which
provisions shall not be applicable to clauses (l) through (o) of this Section 2.21), the Borrower may by written notice to the Administrative Agent establish one or more additional Facilities providing for revolving commitments
(“Replacement Revolving Facility Commitments” and the revolving loans thereunder, “Replacement Revolving Loans”), which replaces in whole or in part any Class of Revolving Facility Commitments under this Agreement.
Each such notice shall specify the date (each, a “Replacement Revolving Facility Effective Date”) on which the Borrower proposes that the Replacement Revolving Facility Commitments shall become effective, which shall be a date not
less than five Business Days after the date on which such notice is delivered to the Administrative Agent (or such shorter period agreed to by the Administrative Agent in its reasonable discretion); provided that:
(i)

  
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before and after giving effect to the establishment of such Replacement Revolving Facility Commitments on the Replacement Revolving Facility Effective Date each of the conditions set forth in
Section 4.01 shall be satisfied to the extent required by the relevant Incremental Assumption Agreement governing such Refinancing Term Loans (except that no Default or Event of Default pursuant to Sections 7.01(b), (c),
(h) or (i) shall have occurred and be continuing), (ii) after giving effect to the establishment of any Replacement Revolving Facility Commitments and any concurrent reduction in the aggregate amount of any other
Revolving Facility Commitments, the aggregate amount of Revolving Facility Commitments shall not exceed the aggregate amount of the Revolving Facility Commitments outstanding immediately prior to the applicable Replacement Revolving Facility
Effective Date, (iii) no Replacement Revolving Facility Commitments shall have a final maturity date prior to the latest Revolving Facility Maturity Date in effect at the time of incurrence, (iv) all other terms applicable to such
Replacement Revolving Facility (other than provisions relating to (x) fees, interest rates and other pricing terms and prepayment and commitment reduction and optional redemption terms which shall be as agreed between the Borrower and the
Lenders providing such Replacement Revolving Facility Commitments and (y) the amount of any letter of credit sublimit and swingline commitment under such Replacement Revolving Facility which shall be as agreed between the Borrower, the Lenders
providing such Replacement Revolving Facility Commitments, the Administrative Agent and the Replacement L/C Issuer and Replacement Swingline Lender, if any, under such Replacement Revolving Facility Commitments) taken as a whole shall be consistent
with current market terms (as determined in good faith by the Borrower) and as set forth in a certificate of a Financial Officer of the Borrower (except to the extent such covenants and other terms apply solely to any period after the latest final
maturity of the Revolving Facility Commitments in effect on the date of incurrence of such Replacement Revolving Facility Commitments) as determined by the Borrower in good faith. In addition, the Borrower may establish Replacement Revolving
Facility Commitments to refinance and/or replace all or any portion of a Term Loan hereunder (regardless of whether such Term Loan is repaid with the proceeds of Replacement Revolving Loans or otherwise), so long as the aggregate amount of such
Replacement Revolving Facility Commitments does not exceed the aggregate amount of Term Loans repaid at the time of establishment thereof (it being understood that such Replacement Revolving Facility Commitment may be provided by the Lenders holding
the Term Loans being repaid and/or by any other Person that would be a permitted Assignee hereunder). 
 (m) The Borrower may approach any
Lender or any other Person that would be a permitted Assignee of a Revolving Facility Commitment pursuant to Section 9.04 (such Person, a “Replacement Revolving Lender”) to provide all or a portion of the Replacement
Revolving Facility Commitments; provided that any Lender offered or approached to provide all or a portion of the Replacement Revolving Facility Commitments may elect or decline, in its sole discretion, to provide a Replacement Revolving
Facility Commitment. Any Replacement Revolving Facility Commitment made on any Replacement Revolving Facility Effective Date shall be designated an additional Class of Revolving Facility Commitments for all purposes of this Agreement;
provided that any Replacement Revolving Facility Commitments may, to the extent provided in the applicable Incremental Assumption Agreement, be designated as an increase in any previously established Class of Revolving Facility Commitments.

  
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 (n) On any Replacement Revolving Facility Effective Date, subject to the satisfaction of the
foregoing terms and conditions, each of the Lenders with Replacement Revolving Facility Commitments of such Class shall purchase from each of the other Lenders with Replacement Revolving Facility Commitments of such Class, at the principal amount
thereof and in the applicable currencies, such interests in the Replacement Revolving Loans and participations in Letters of Credit and Swingline Loans under such Replacement Revolving Facility Commitments of such Class then outstanding on such
Replacement Revolving Facility Effective Date as shall be necessary in order that, after giving effect to all such assignments and purchases, the Replacement Revolving Loans and participations of such Replacement Revolving Facility Commitments of
such Class will be held by the Lenders thereunder ratably in accordance with their Replacement Revolving Credit Percentages. 
 (o) For
purposes of this Agreement and the other Loan Documents, (i) if a Lender is providing a Refinancing Term Loan, such Lender will be deemed to have an Incremental Term Loan having the terms of such Refinancing Term Loan and (ii) if a Lender
is providing a Replacement Revolving Facility Commitment, such Lender will be deemed to have an Incremental Revolving Facility Commitment having the terms of such Replacement Revolving Facility Commitment. Notwithstanding anything to the contrary
set forth in this Agreement or any other Loan Document (including without limitation this Section 2.21), (i) the aggregate amount of Refinancing Term Loans and Replacement Revolving Facility Commitments will not be included in the
calculation of the Incremental Amount, (ii) no Refinancing Term Loan or Replacement Revolving Facility Commitment is required to be in any minimum amount or any minimum increment, (iii) there shall be no condition to any incurrence of any
Refinancing Term Loan or Replacement Revolving Facility Commitment at any time or from time to time other than those set forth in clauses (j) or (l) above, as applicable, and (iv) all Refinancing Term Loans, Replacement Revolving
Facility Commitments and all obligations in respect thereof shall be Obligations under this Agreement and the other Loan Documents that are secured by the Collateral on a pari passu basis with all other Obligations under this Agreement and the other
Loan Documents. 
 (p) Notwithstanding anything in the foregoing to the contrary, (i) for the purpose of determining the number of
outstanding Eurocurrency Borrowings upon the incurrence of any Incremental Loans, (x) to the extent the last date of Interest Periods for multiple Eurocurrency Borrowings under the Term Facilities fall on the same day, such Eurocurrency
Borrowings shall be considered a single Eurocurrency Borrowing and (y) to the extent the last date of Interest Periods for multiple Eurocurrency Borrowings under the Revolving Facilities fall on the same day, such Eurocurrency Borrowings shall
be considered a single Eurocurrency Borrowing and (ii) the initial Interest Period with respect to any Eurocurrency Borrowing of Incremental Loans may, at the Borrower’s option, be of a duration of a number of Business Days that is less
than one month, and the Adjusted Eurocurrency Rate with respect to such initial Interest Period shall be the same as the Adjusted Eurocurrency Rate applicable to any then-outstanding Eurocurrency Borrowing as the Borrower may direct, so long as the
last day of such initial Interest Period is the same as the last day of the Interest Period with respect to such outstanding Eurocurrency Borrowing. 

  
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 Section 2.22 Defaulting Lenders. 

(i) Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender under any Revolving
Facility becomes a Defaulting Lender, then, until such time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable laws, rules and regulations of any Governmental Authority, during any period in which there is a
Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender under any such Revolving Facility to acquire, refinance or fund participations in Letters of Credit or Swingline Loans pursuant to Sections
2.04 and 2.05, the “Revolving Facility Percentage” of each non-Defaulting Lender under such Revolving Facility shall be computed without giving effect to the Revolving Facility Commitment of that Defaulting Lender;
provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists and (ii) the aggregate obligation of each non-Defaulting
Lender to acquire, refinance or fund participations in Letters of Credit and Swingline Loans under such Revolving Facility in connection with such reallocation shall not exceed the Available Unused Commitment of such Lender. 

(ii) Waivers and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or
consent with respect to this Agreement shall be restricted as set forth in the definitions of “Required Lenders” or “Majority Lenders.” 

(iii) Cash Collateral. To the extent the reallocation pursuant to clause (i) above is insufficient for any reason
to cover the L/C Issuer’s and Swingline Lender’s Fronting Exposure to a Defaulting Lender, the Borrower shall Cash Collateralize such uncovered Fronting Exposure pursuant to arrangements reasonably satisfactory to the Administrative Agent.

 (iv) Limitation on Swingline Loans and Letters of Credit. Notwithstanding anything to the contrary set forth
herein, so long as any Lender is a Defaulting Lender, no Swingline Lender shall have any obligation to make Swingline Loans and no L/C Issuer shall have any obligation to issue, amend or renew any Letter of Credit at any time there is Fronting
Exposure, in each case, unless the Swingline Lender or the L/C Issuer, respectively, is reasonably satisfied that it will have no Fronting Exposure after giving effect thereto. 

(v) Reallocation of Payments. Any payment of principal, interest, fees or other amounts received by the Administrative
Agent for the account of a Defaulting Lender on account of its Loans or participations under the Revolving Facility Commitments (whether voluntary or mandatory, at maturity, following an Event of Default or otherwise) or received by the
Administrative Agent from a Defaulting Lender pursuant to Section 9.06, shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by that
Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by that Defaulting Lender to the L/C Issuer or Swingline Lender hereunder; third, if so determined by the
Administrative Agent or requested by the L/C Issuer or Swingline Lender, to be held as Cash Collateral for future funding obligations of that Defaulting Lender of any participation in any Swingline Loan or Letter of Credit; fourth, as the
Borrower may request (so long as no Default or Event 

  
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of Default exists), to the funding of any Loan in respect of which that Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative
Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released in order to satisfy obligations of that Defaulting Lender to fund Loans under this Agreement;
sixth, to the payment of any amounts owing to the Lenders, the L/C Issuer or Swingline Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the L/C Issuer or Swingline Lender against that Defaulting
Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of
a court of competent jurisdiction obtained by the Borrower against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to that Defaulting Lender or as otherwise
directed by a court of competent jurisdiction; provided that if such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of which that Defaulting Lender has not fully funded its appropriate share, such
payment shall be applied solely to pay the Loans of, and L/C Borrowings owed to, all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Borrowings owed to, that Defaulting Lender. Any payments,
prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.22(v) shall be deemed paid to and redirected
by that Defaulting Lender, and each Lender irrevocably consents hereto. 
 (vi) Certain Fees. No Defaulting Lender
shall be entitled to receive any Commitment Fee for any period during which that Lender is a Defaulting Lender. 
 (A) Each
Defaulting Lender shall be entitled to receive L/C Participation Fees for any period during which that Lender is a Defaulting Lender only to the extent allocable to its pro rata share of the stated amount of Letters of Credit for which it has
provided Cash Collateral. 
 (B) With respect to any Commitment Fee or L/C Participation Fee not required to be paid to any
Defaulting Lender pursuant to clause (vi)(A) or (B) above, the Borrower shall (x) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s
participation in Letters of Credit or Swingline Loans that has been reallocated to such Non-Defaulting Lender pursuant to clause (vii) below, (y) pay to each L/C Issuer and the Swingline Lender, as applicable, the amount of any such fee
otherwise payable to such Defaulting Lender to the extent allocable to such L/C Issuer’s or the Swingline Lender’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee. 

(vii) Reallocation of Participations to Reduce Fronting Exposure. All or any part of such Defaulting Lender’s
participation in Letters of Credit and Swingline Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective pro rata Commitments (calculated without regard to such Defaulting Lender’s

  
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Commitment) but only to the extent that (x) the conditions set forth in Section 4.01 are satisfied at the time of such reallocation and (y) such reallocation does not cause
the aggregate Revolving Facility Credit Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Facility Commitment. No reallocation hereunder shall constitute a waiver or release of any claim of any party
hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation. 

(viii) Defaulting Lender Cure. If the Borrower, the Administrative Agent, Swingline Lender and the L/C Issuer agree in
writing in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to
any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as
the Administrative Agent may determine to be necessary to cause the Revolving Facility Loans and funded and unfunded participations in Letters of Credit and Swingline Loans under the applicable Revolving Facility to be held on a pro rata basis by
the Lenders in accordance with their Revolving Facility Percentages under such Revolving Facility (without giving effect to Section 2.22(i)), whereupon that Lender will cease to be a Defaulting Lender; provided that no adjustments
will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the
affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 

ARTICLE III 
 Representations
and Warranties 
 On the date of each Credit Event, the Borrower represents and warrants to each of the Lenders that after giving effect
to the entry and the terms of the (x) Confirmation Order and (y) Plan of Reorganization: 
 Section 3.01 Organization;
Powers. Except as set forth on Schedule 3.01, the Borrower and each of the Material Subsidiaries (a) is a partnership, limited liability company or corporation duly organized, validly existing and in good standing (or, if applicable
in a foreign jurisdiction, enjoys the equivalent status under the laws of any jurisdiction of organization outside the United States) under the laws of the jurisdiction of its organization, (b) has all requisite power and authority to own its
property and assets and to carry on its business as now conducted, (c) is qualified to do business in each jurisdiction where such qualification is required, except where the failure so to qualify would not reasonably be expected to have a
Material Adverse Effect, and (d) after giving effect to the Confirmation Order and the Plan of Reorganization, has the power and authority to execute, deliver and perform its obligations under each of the Loan Documents to which it is or will
be a party and, in the case of the Borrower, to borrow and otherwise obtain credit hereunder. 

  
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 Section 3.02 Authorization. The execution, delivery and performance by the Loan
Parties of each of the Loan Documents to which it is a party, and the borrowings hereunder and the Transactions (a) have been duly authorized by all corporate, stockholder, partnership or limited liability company action required to be obtained
by the Loan Parties and (b) will not (i) violate the terms of the certificate or articles of incorporation or other constitutive documents (including any partnership, limited liability company or operating agreements) or by-laws of such
Loan Party, (ii) violate (A) any provision of law, statute, rule or regulation, (B) any applicable order of any court or any rule, regulation or order of any Governmental Authority applicable to such Loan Party, or (C) any
provision of any indenture, certificate of designation for preferred stock, agreement or other instrument to which the such Loan Party is a party or by which any of them or any of their property is or may be bound, (iii) be in conflict with,
result in a breach of or constitute (alone or with notice or lapse of time or both) a default under, give rise to a right of or result in any cancellation or acceleration of any right or obligation (including any payment) or to a loss of a material
benefit under (A) any such indenture, certificate of designation for preferred stock, agreement or other instrument or (B) the Lease Agreements or Management and Lease Support Agreement, where any such conflict, violation, breach or
default referred to in clause (ii) or (iii)(A) of this Section 3.02(b), would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, or (iv) result in the creation or imposition of any Lien
upon or with respect to any property or assets now owned or hereafter acquired by any Loan Party, other than Permitted Liens or as provided for in the Plan of Reorganization or the Confirmation Order. 

Section 3.03 Enforceability. This Agreement has been duly executed and delivered by the Borrower and constitutes, and each other
Loan Document when executed and delivered by each Loan Party that is party thereto will constitute, a legal, valid and binding obligation of such Loan Party enforceable against each such Loan Party in accordance with its terms, subject to
(i) the effects of bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally, (ii) general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law), and (iii) implied covenants of good faith and fair dealing. 
 Section 3.04
Governmental Approvals. No action, consent or approval of, registration or filing with or any other action by any Governmental Authority is or will be required in connection with the Transactions, the perfection or maintenance of the Liens
created under the Security Documents or the exercise by any Agent or any Lender of its rights under the Loan Documents or the remedies in respect of the Collateral, except for (a) the filing of Uniform Commercial Code financing and continuation
statements, (b) filings with the United States Patent and Trademark Office and the United States Copyright Office and any successor offices, (c) recordation of the Mortgages and Ship Mortgages, (d) such actions, consents and approvals
under Gaming Laws or from Gaming Authorities the failure of which to be obtained or made would not reasonably be expected to have a Material Adverse Effect, (e) such as have been made or obtained and are in full force and effect, (f) such
other actions, consents and approvals the failure of which to be obtained or made would not reasonably be expected to have a Material Adverse Effect, (g) filings in order to release Liens, and (h) filings or other actions listed on
Schedule 3.04. 
 Section 3.05 Financial Statements. 

  
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 (a) The unaudited pro forma combined condensed consolidated statements of operations of Parent,
together with its consolidated Subsidiaries, for the fiscal year ended December 31, 2016 and the six months ended June 30, 2017 and the unaudited pro forma combined condensed balance sheet of Parent, together with its consolidated
Subsidiaries, as of June 30, 2017, copies of which have heretofore been furnished to the Administrative Agent have been prepared in good faith based on assumptions believed by the Borrower to have been reasonable under the circumstances as of
the date of delivery thereof; provided that, it is understood that (i) the assumptions used and pro forma adjustments derived from such assumptions were based on available information as of the date of delivery thereof, and in many cases
are based on estimates and preliminary information; (ii) the actual amount of such items is subject to change and such changes may be material; (iii) such pro forma financial statements should be read in connection with the descriptions of
the assumptions underlying the pro forma adjustments described in the accompanying notes to the pro forma financial statements; (iv) the pro forma financial information may not be indicative of Parent’s future performance and does not
necessarily reflect what its financial position and results of operations would have been had the Transactions occurred at the beginning of the period presented.4 

(b) To the best knowledge of the Borrower, the financial statements described in (a) above, fairly present in all material respects the
financial condition of the Borrower and its consolidated Subsidiaries as of the dates thereof and their results of operations for the period covered thereby. 

Section 3.06 No Material Adverse Effect. Since the Closing Date, there has been no event or circumstance that has had or would
reasonably be expected to have a Material Adverse Effect. 
 Section 3.07 Title to Properties; Possession Under Leases. 

(a) Each of the Borrower and its Subsidiaries has valid title in fee simple or equivalent to, or valid leasehold interests in, or easements or
other limited property interests in, all its Real Properties (including all Mortgaged Properties) and has valid title to its tangible personal property and assets, in each case, except for (i) Permitted Liens, (ii) defects in title that do
not materially interfere with its ability to conduct its business as currently conducted or to utilize such properties and assets for their intended purposes, or (iii) where the failure to have such title would not reasonably be expected to
have, individually or in the aggregate, a Material Adverse Effect and (B) all its Vessels (including all Mortgaged Vessels), except for Permitted Liens. All such properties and assets are free and clear of Liens, other than Permitted Liens.

 (b) Each of the Borrower and its Subsidiaries have complied with all obligations under the Lease Agreements to which it is a party,
except where the failure to comply would not reasonably be expected to have a Material Adverse Effect and all such Lease Agreements are in full force and effect, except in respect of which the failure to be in full force and effect would not
reasonably be expected to have a Material Adverse Effect. 
  

	4 	NTD: Subject to Company confirmation. 

  
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 (c) As of the Closing Date, except as set forth on Schedule 3.07(b), none of the Borrower
or the Subsidiaries has received any written notice of any pending or contemplated condemnation proceeding in respect of any material portion of the Mortgaged Properties or any sale or disposition thereof in lieu of condemnation that remains
unresolved as of the Closing Date, except any such condemnation proceeding or sale or disposition in lieu thereof which would not reasonably be expected to have a Material Adverse Effect. 

(d) As of the Closing Date, none of the Borrowers and the Subsidiaries is obligated under any right of first refusal, option or other
contractual right to sell, assign or otherwise dispose of any Mortgaged Property or any interest therein. 
 Section 3.08
Subsidiaries. 
 (a) Schedule 3.08(a) sets forth as of the Closing Date the name and jurisdiction of incorporation, formation
or organization of each Subsidiary of the Borrower and, as to each such Subsidiary, the percentage of each class of Equity Interests owned by the Borrower or by any such Subsidiary. 

(b) As of the Closing Date, after giving effect to the Transactions, there are no outstanding subscriptions, options, warrants, calls, rights
or other agreements or commitments (other than stock options granted to employees or directors (or entities controlled by directors) and shares held by directors (or entities controlled by directors)) relating to any Equity Interests of the Borrower
or any of the Subsidiaries, except as set forth on Schedule 3.08(b). 
 Section 3.09 Litigation; Compliance with Laws.

 (a) There are no actions, suits or proceedings at law or in equity or by or on behalf of any Governmental Authority or in arbitration now
pending, or, to the knowledge of the Borrower, threatened in writing against the Borrower or any of the Subsidiaries or any business, property or rights of any such Person which would reasonably be expected to have, individually or in the aggregate,
a Material Adverse Effect. 
 (b) None of the Borrower, the Subsidiaries and their respective properties or assets is in violation of (nor
will the continued operation of their material properties and assets as currently conducted violate) any law (including the USA PATRIOT Act), rule or regulation (including any zoning, building, ordinance, code or approval or any building permit, but
excluding any Environmental Laws, which are subject to Section 3.16) or any restriction of record or agreement affecting any Mortgaged Property, or is in default with respect to any judgment, writ, injunction or decree of any
Governmental Authority, where such violation or default would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

(c) The Borrower and each Subsidiary are in compliance with all Gaming Laws that are applicable to them and their businesses, except where a
failure to so comply would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

Section 3.10 Federal Reserve Regulations. 

(a) None of the Borrower and the Subsidiaries is engaged principally, or as one of its important activities, in the business of extending
credit for the purpose of purchasing or carrying Margin Stock. 

  
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 (b) Neither the making of any Loan (or the extension of any Letter of Credit) hereunder nor the
use of the proceeds thereof will violate the provisions of Regulation T, Regulation U or Regulation X of the Board. 
 Section 3.11
Investment Company Act. None of the Borrower and the Subsidiaries is required to be registered as an “investment company” within the meaning of the Investment Company Act of 1940, as amended, modified, or supplemented from time to
time. 
 Section 3.12 Use of Proceeds. 

(a) The Borrower will use the proceeds of the Revolving Facility Loans and Swingline Loans, and may request the issuance of Letters of Credit
to fund the Plan of Reorganization and other Transactions and related costs, expenses and fees and to pay operating expenses and fund general corporate and working capital of the Borrower (including, without limitation, for Permitted Business
Acquisitions, capital expenditures, Capitalized Software Expenditures, Restricted Payments and project development and, in the case of Letters of Credit, for the back-up or replacement of existing letters of credit). 

(b) The Borrower will use the proceeds of the Initial Term B Loans made on the Closing Date as provided in Section 2.01(a). 

Section 3.13 Tax Returns. 

(a) Except as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, (i) the
Borrower and the Subsidiaries has filed or caused to be filed all federal, state, local and non-U.S. Tax returns required to have been filed by each of them (including in its capacity as withholding agent) and (ii) each such Tax return is true
and correct; 
 (b) Except as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect,
the Borrower and the Subsidiaries have timely paid or caused to be timely paid all Taxes shown to be due and payable by each of them on the returns referred to in clause (a) and all other Taxes or assessments due and payable by such Persons,
including in their capacity as a withholding agent (except Taxes or assessments that are being contested in good faith by appropriate proceedings in accordance with Section 5.03 and for which the Borrower or any of the Subsidiaries (as
the case may be) has set aside on its books adequate reserves in accordance with GAAP); and 
 (c) Other than as would not be, individually
or in the aggregate, reasonably expected to have a Material Adverse Effect, with respect to each of the Borrower and the Subsidiaries, there are no claims being asserted in writing with respect to any Taxes. 

Section 3.14 No Material Misstatements. 

  
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 (a) All written information (other than the Projections, estimates, budgets, forward-looking
information and information of a general economic nature or general industry nature) (the “Information”) concerning the Borrower, the Subsidiaries, or their businesses prepared by or on behalf of the foregoing or their
representatives and made available to any Lenders or the Administrative Agent in connection with the Transactions, when taken as a whole, was true and correct in all material respects, as of the date such Information was furnished to the Lenders and
did not, taken as a whole, contain any untrue statement of a material fact as of any such date or omit to state a material fact necessary in order to make the statements contained therein, taken as a whole, not materially misleading in light of the
circumstances under which such statements were made (in each case giving effect to all supplements and updates provided thereto). 
 (b) The
Projections prepared by or on behalf of the Borrower or any of its Representatives and that have been made available to any Lenders or the Administrative Agent in connection with the Transactions have been prepared in good faith based upon
assumptions believed by the Borrower to be reasonable as of the date thereof (it being understood such Projections are as to future events and are not to be viewed as facts, such Projections are subject to significant uncertainties and contingencies
and that actual results during the period or periods covered by any such Projections may differ significantly from the projected results, that no assurances can be given that the projected results will be realized and that such Projections are not a
guaranty of performance), as of the date such Projections were furnished to the Lenders. 
 Section 3.15 Employee Benefit Plans.

 (a) Except as set forth on Schedule 3.15(a), or as would not reasonably be expected, individually or in the aggregate, to have a
Material Adverse Effect: (i) each Plan is in compliance with the applicable provisions of ERISA and the Code; (ii) no Reportable Event has occurred during the past five years as to which the Borrower, any Subsidiary or any ERISA Affiliate
was required to file a report with the PBGC, other than reports that have been filed; (iii) as of the most recent valuation date preceding the date of this Agreement, no Plan has any Unfunded Pension Liability; (iv) no ERISA Event has
occurred; (v) none of the Borrower, its Subsidiaries or any ERISA Affiliate (A) has received any written notification that any Multiemployer Plan is in reorganization or has been terminated within the meaning of Title IV of ERISA, or
(B) has incurred or is reasonably expected to incur any Withdrawal Liability; and (vi) none of the Borrower or its Subsidiaries has engaged in a “prohibited transaction” (as defined in Section 406 of ERISA and Code
Section 4975) in connection with any employee pension benefit plan (as defined in Section 3(2) of ERISA) that would subject the Borrower or any Subsidiary to tax. 

Section 3.16 Environmental Matters. Except as provided on Schedule 3.16 or to matters that would not reasonably be expected
to have, individually or in the aggregate, a Material Adverse Effect: (i) no written notice has been received by the Borrower or any of its Subsidiaries, and there are no judicial, administrative or other actions, suits or proceedings pending
or, to the Borrower’s knowledge, threatened in writing which allege a violation of any Environmental Laws, in each case relating to the Borrower or any of its Subsidiaries; (ii) each of the Borrower and the Subsidiaries has all
environmental permits, licenses and other approvals necessary for its operations to comply with all Environmental Laws and is in compliance with the terms of such permits, licenses and other approvals and with all other Environmental Laws;
(iii) no Hazardous Material has been Released by the Borrower or any of its Subsidiaries at, on 

  
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or under any property currently owned, operated or leased or, to the Borrower’s knowledge, any property formerly owned, operated or leased, by the Borrower or any of its Subsidiaries that
would reasonably be expected to give rise to any cost, liability or obligation of the Borrower or any of its Subsidiaries under any Environmental Laws, and no Hazardous Material has been generated, owned, treated, stored, handled or controlled by
the Borrower or any of its Subsidiaries or transported to or Released at any location by the Borrower or any of its Subsidiaries in a manner that would reasonably be expected to give rise to any cost, liability or obligation of the Borrower or any
of its Subsidiaries under any Environmental Laws; and (iv) there are no agreements in which the Borrower or any of its Subsidiaries has expressly assumed or undertaken responsibility for any known or reasonably likely liability or obligation of
any other Person arising under or relating to Environmental Laws, which in any such case has not been made available to the Administrative Agent prior to the date hereof. This Section 3.16 contains the sole and exclusive representations
and warranties of the Borrower or its Subsidiaries with respect to environmental matters, including any matters relating to Environmental Laws, Hazardous Materials, and Releases. 

Section 3.17 Security Documents. 

(a) The Collateral Agreement is effective to create in favor of the Collateral Agent (for the benefit of the Secured Parties) a legal, valid
and enforceable (subject to (i) the effects of bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally and (ii) general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law)) security interest in the Collateral described therein (including proceeds thereof as set forth therein). In the case of the Pledged Collateral described in the
Collateral Agreement, when certificates or promissory notes, as applicable, representing such Pledged Collateral and required to be delivered under the applicable Security Document are delivered to the Collateral Agent, and in the case of the other
Collateral described in the Collateral Agreement (other than the registered or applied for copyrights, patents and trademarks included in the Collateral), when financing statements and other filings and actions specified in the Perfection
Certificate are filed in the offices specified in the Perfection Certificate or taken, as applicable (and all applicable fees are paid), the Collateral Agent (for the benefit of the Secured Parties) shall have a perfected Lien on, and security
interest in, all right, title and interest of the Loan Parties in such Collateral and, subject to Section 9-315 of the New York Uniform Commercial Code, the proceeds thereof, as security for the Obligations to the extent perfection in such
Collateral can be obtained by making such filings and taking such actions, in each case prior and superior in right to the Lien of any other Person (except for Permitted Liens). 

(b) When the Collateral Agreement or IP Security Agreements are properly filed in the United States Patent and Trademark Office and the United
States Copyright Office (and the applicable fees are paid), and, upon the proper filing of the financing statements referred to in paragraph (a) above, the Collateral Agent (for the benefit of the Secured Parties) shall have a fully perfected
Lien on, and security interest in, all right, title and interest of the Loan Parties thereunder in the domestic registered or applied for copyrights, patents and trademarks included in the Collateral, in each case prior and superior in right to the
Lien of any other Person, except for Permitted Liens (it being understood that subsequent recordings in the United States Patent and Trademark Office and the United States Copyright Office may be necessary to perfect a Lien on registered trademarks
and patents, trademark and patent applications and registered copyrights acquired by the Loan Parties after the Closing Date). 

  
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 (c) The Mortgages executed and delivered on the Closing Date are, and the Mortgages executed and
delivered after the Closing Date pursuant to Section 5.10 and/or Section 5.11 will be, effective to create in favor of the Collateral Agent (for the benefit of the Secured Parties) a legal, valid and enforceable (subject to
(i) the effects of bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law)) Lien on all of the applicable Loan Parties’ right, title and interest in and to the Mortgaged Property thereunder and the proceeds thereof, and when such Mortgages are filed or recorded in the
proper real estate filing or recording offices, and all relevant mortgage taxes and recording charges are duly paid (which such payment Borrower shall promptly make), the Collateral Agent (for the benefit of the Secured Parties) shall have valid
Liens on, and security interest in, all right, title, and interest of the applicable Loan Parties in such Mortgaged Property and, to the extent applicable, subject to Section 9-315 of the Uniform Commercial Code, the proceeds thereof, in each
case prior and superior in right to the Lien of any other Person, except for Permitted Liens. 
 (d) The Ship Mortgages executed and
delivered on the Closing Date are, and the Ship Mortgages executed and delivered after the Closing Date pursuant to Section 5.10 shall be, effective to create, and will create and perfect upon filing and/or recording of such Ship
Mortgage with the NVDC (including payment of applicable filing fees), in favor of the Security Trustee for the benefit of the Secured Parties a legal, valid and enforceable first preferred mortgage over the whole of the applicable Mortgaged Vessel
as collateral security for the payment and performance of the Loans and the other Obligations, and each Ship Mortgage, upon filing and recording in the NVDC creates and perfects in favor of the Security Trustee for the benefit of the Secured Parties
a first preferred mortgage upon the applicable Mortgaged Vessel under the Ship Mortgage Act, free and clear of all Liens other than Permitted Liens. 

(e) The Insurance Assignments and the Earnings Assignments executed and delivered on the Closing Date are, and the Insurance Assignments and
the Earnings Assignments executed and delivered after the Closing Date pursuant to Section 5.10 shall be, effective to create in favor of the Collateral Agent and the Security Trustee (as applicable) (for the benefit of the Secured
Parties) a legal, valid and enforceable (subject to (i) the effects of bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally and (ii) general principles
of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law)) security interest in the Collateral described therein (including proceeds thereof as set forth therein). In the case the Collateral described in
the Insurance Assignment and Earnings Assignment, when financing statements and other filings and actions specified therein are filed in the offices specified therein or taken, as applicable (and all applicable fees are paid), the Collateral Agent
and the Security Trustee (as applicable) (for the benefit of the Secured Parties) shall have a perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in such Collateral and, subject to Section 9-315 of
the New York Uniform Commercial Code, the proceeds thereof, as security for the Obligations to the extent perfection in such Collateral can be obtained by making such filings and taking such actions, in each case prior and superior in right to the
Lien of any other Person (except for Permitted Liens). 

  
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 (f) Notwithstanding anything herein (including this Section 3.17) or in any other
Loan Document to the contrary, (i) each of the parties hereto acknowledges and agrees that licensing by the Gaming Authorities may be required to enforce and/or exercise or foreclose upon certain security interests and such enforcement and/or
exercise or foreclosure may be otherwise limited by the Gaming Laws and (ii) no Loan Party makes any representation or warranty as to the effects of perfection or non-perfection, the priority or the enforceability of any pledge of or security
interest in any Equity Interests of any Foreign Subsidiary, or as to the rights and remedies of the Agents or any Lender with respect thereto, under foreign law. 

Section 3.18 Location of Real Property; Vessel Data. 

(a) The Perfection Certificate completely and correctly identifies, in all material respects, as of the Closing Date all material Real
Property owned in fee by the Loan Parties. As of the Closing Date, the Loan Parties own in fee all the Real Property set forth as being owned by them in the Perfection Certificate except to the extent set forth therein. 

(b) The Perfection Certificate completely and correctly identifies, in all material respects, all Documented Vessels owned by the Borrower or
a Subsidiary Loan Party as of the Closing Date, including the owner of each Documented Vessel, the name of each Documented Vessel, the official number issued by the NVDC to each Documented Vessel and/or any other applicable information relating to
the documentation or registration of each Documented Vessel under any applicable jurisdiction, and the location of the hailing port of each Documented Vessel. 

Section 3.19 Solvency. 

(a) On the Closing Date, immediately after giving effect to the Transactions to occur on the Closing Date, (i) the fair value of the
assets (on a going concern basis) of the Borrower and the Subsidiaries on a combined or consolidated basis, at a fair valuation, will exceed the debts and liabilities, direct, subordinated, contingent or otherwise, of the Borrower and the
Subsidiaries on a combined or consolidated basis, (ii) the present fair saleable value (on a going concern basis) of the property of the Borrower and the Subsidiaries on a combined or consolidated basis will be greater than the amount that will
be required to pay the probable liability of the Borrower and the Subsidiaries on a combined or consolidated basis on their debts and other liabilities, direct, subordinated, contingent or otherwise, as such debts and other liabilities become
absolute and matured in the ordinary course of business, (iii) the Borrower and the Subsidiaries on a combined or consolidated basis will be able to pay their debts and liabilities, direct, subordinated, contingent or otherwise, as such debts
and liabilities become absolute and matured in the ordinary course of business, and (iv) the Borrower and the Subsidiaries on a combined or consolidated basis will not have unreasonably small capital with which to conduct the businesses in
which they are engaged as such businesses are now conducted and are proposed to be conducted following the Closing Date. 

  
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 (b) On the Closing Date, immediately after giving effect to the consummation of the Transactions,
the Borrower does not intend to, and the Borrower does not believe that it or any of its Subsidiaries will, incur debts beyond its ability to pay such debts as they mature, taking into account the timing and amounts of cash to be received by it or
any such Subsidiary and the timing and amounts of cash to be payable on or in respect of its Indebtedness or the Indebtedness of any such Subsidiary. 

Section 3.20 Labor Matters. Except as, individually or in the aggregate, would not reasonably be expected to have a Material
Adverse Effect: (a) there are no strikes or other labor disputes pending or threatened in writing against the Borrower or any of the Subsidiaries; (b) the hours worked and payments made to employees of the Borrower and the Subsidiaries
have not been in violation of the Fair Labor Standards Act or any other applicable law dealing with such matters; and (c) all payments due from the Borrower or any of the Subsidiaries or for which any claim may be made against the Borrower or
any of the Subsidiaries, on account of wages have been paid or accrued as a liability on the books of the Borrower or such Subsidiary to the extent required by GAAP. Except as, individually or in the aggregate, would not reasonably be expected to
have a Material Adverse Effect, the consummation of the Transactions will not give rise to a right of termination or right of renegotiation on the part of any union under any collective bargaining agreement to which the Borrower or any of the
Subsidiaries (or any predecessor) is a party or by which the Borrower or any of the Subsidiaries (or any predecessor) is bound. 

Section 3.21 No Default. No Default or Event of Default has occurred and is continuing. 

Section 3.22 Intellectual Property; Licenses, Etc. Except as would not reasonably be expected to have a Material Adverse Effect
and except as set forth in Schedule 3.22, (a) the Borrower and each of its Subsidiaries owns, or possesses the right to use, all of the patents, trademarks, service marks or trade names, copyrights or mask works, domain names, data,
databases, trade secrets, including, as applicable, applications and registrations for any of the foregoing (collectively, “Intellectual Property Rights”) that are reasonably necessary for the operation of their respective
businesses; (b) to the best knowledge of the Borrower, the Borrower and the Subsidiaries are not interfering with, infringing upon, misappropriating or otherwise violating the Intellectual Property Rights of any Person; and (c) no claim or
litigation regarding any of the foregoing is pending or, to the knowledge of the Borrower, threatened in writing. 
 Section 3.23
Senior Debt. The Obligations constitute “Senior Debt” (or the equivalent thereof) and “Designated Senior Debt” (or the equivalent thereof, if any) under the documentation governing any Indebtedness of any
Loan Party permitted to be incurred hereunder constituting Indebtedness that is subordinated in right of payment to the Loan Obligations. 

Section 3.24 Anti-Money Laundering and Economic Sanctions Laws. 

(a) To the knowledge of senior management of each Loan Party, no Loan Party, none of its Subsidiaries, none of its controlled Affiliates and
none of the respective officers, directors, brokers or agents of such Loan Party, such Subsidiary or controlled Affiliate has violated or is in violation of any applicable Anti-Money Laundering Law in any material respect. 

  
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 (b) To the knowledge of senior management of each Loan Party, no Loan Party, none of its
Subsidiaries, none of its controlled Affiliates and none of the respective officers, directors, brokers or agents of such Loan Party, such Subsidiary or such controlled Affiliate that is acting or benefiting in any capacity in connection with the
Loans (i) is an Embargoed Person or (ii) except as otherwise authorized by OFAC, otherwise permitted for U.S. Persons by a U.S. Governmental Authority or by any rule, regulation or order of a U.S. Governmental Authority, will use any
proceeds of the Loans or Letters of Credit, or lend, contribute or otherwise make available such proceeds to any Person for the purpose of financing the activities of or with any Person or in any country or territory that, at the time of funding or
facilitation, is an Embargoed Person. 
 (c) No part of the proceeds of the Loans will be used directly by the Borrower or its Subsidiaries
for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any
improper advantage, in violation in any material respect of the United States Foreign Corrupt Practices Act of 1977, as amended, modified, or supplemented from time to time. 

(d) None of the Borrower or any of its Subsidiaries (i) is a Person whose property or interest in property is blocked or subject to
blocking pursuant to Section 1 of Executive Order 13224 of September 23, 2001 Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)), (ii) engages
in any dealings or transactions prohibited by Section 2 of such executive order, or is otherwise associated with any such Person in any manner that violates in any material respect Section 2 of such executive order, or (iii) is a
Person on the list of “Specially Designated Nationals and Blocked Persons” or subject to the limitations or prohibitions under any other U.S. Department of Treasury’s Office of Foreign Assets Control regulation or executive order.

 Section 3.25 Insurance. The Borrower and the other Loan Parties are insured as required by Section 5.02. 

Section 3.26 Citizenship. Each Loan Party which owns a Documented Vessel is a citizen of the United States within the meaning of
46 U.S.C. § 50501(b) (formerly Section 2 of the Shipping Act of 1916, as amended, 46 App. U.S.C. §§ 802, 803), and is duly qualified to engage in the trade in which the Vessel operates. 

Section 3.27 Vessels. Each Documented Vessel: 

(a) is solely owned by the relevant Loan Party, is duly registered and documented in the name of the relevant Loan Party with the National
Vessel Documentation Center, the United States Coast Guard, Falling Waters, West Virginia and is unencumbered (other than by any Permitted Liens); 

(b) is insured in accordance with the provisions of the Ship Mortgage on such Documented Vessel (or to be recorded on such Documented Vessel
in accordance herewith) and the requirements thereof in respect of such insurance will have been complied with; and 

  
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 (c) has been issued a certificate of documentation with such endorsements as shall qualify the
Documented Vessel for participation in the trades and services to which it may be dedicated from time to time. 
 Section 3.28 REIT
Status. Parent will elect or has elected to be treated as a REIT commencing with its taxable year ending on or before December 31, 20185. Parent is organized and operates in a manner
intended to be in conformity with the requirements for qualification and taxation as a REIT, and its proposed method of operation enables Parent to meet the requirements for qualification and taxation as a REIT. 

ARTICLE IV 
 Conditions of
Lending 
 The obligations of (a) the Lenders (including the Swingline Lender) to make Loans and (b) any L/C Issuer to permit
any L/C Credit Extension hereunder (each, a “Credit Event”, which shall exclude, for the avoidance of doubt, any conversion or continuation of a Borrowing) are subject to the satisfaction (or waiver in accordance with
Section 9.08) of the following conditions: 
 Section 4.01 All Credit Events. On the date of each Borrowing and on
the date of each L/C Credit Extension: 
 (a) The Administrative Agent shall have received, in the case of a Borrowing, a Borrowing Request
as required by Section 2.03 (or a Borrowing Request shall have been deemed given in accordance with the last paragraph of Section 2.03) or, in the case of an L/C Credit Extension, the applicable L/C Issuer and the
Administrative Agent shall have received a Letter of Credit Application as required by Section 2.05(b). 
 (b) The
representations and warranties set forth in the Loan Documents shall be true and correct in all material respects as of such date, as applicable, with the same effect as though made on and as of such date, except to the extent such representations
and warranties expressly relate to an earlier date (in which case such representations and warranties shall be true and correct in all material respects as of such earlier date). 

(c) At the time of and immediately after each Borrowing or L/C Credit Extension, as applicable, no Event of Default or Default shall have
occurred and be continuing. 
 Each such Borrowing and each L/C Credit Extension shall be deemed to constitute a representation and warranty
by the Borrower on the date of such Borrowing or L/C Extension as to the matters specified in paragraphs (b) and (c) of this Section 4.01. 

Section 4.02 First Credit Event. On or prior to the Closing Date: 

(a) The Administrative Agent (or its counsel) shall have received from the Borrower a counterpart of this Agreement signed on behalf of such
party (which may include delivery of a signed signature page of this Agreement by facsimile or other means of electronic transmission (e.g., “pdf”)) that such party has signed a counterpart of this Agreement. 

 

	5 	 NTD: Assumes 2017 Effective Date. 

  
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 (b) The Administrative Agent shall have received, on behalf of itself and the Lenders, a written
opinion of (i) Kirkland & Ellis LLP, special counsel for the Loan Parties and (ii) each local counsel specified on Schedule 4.02(b), in each case (A) dated the Closing Date, (B) addressed to the Administrative
Agent and the Lenders, and (C) in customary form. 
 (c) The Administrative Agent shall have received a certificate of the Secretary or
Assistant Secretary or similar officer of each Loan Party dated the Closing Date and certifying: 
 (i) a copy of the
certificate or articles of incorporation, certificate of limited partnership, certificate of formation or other equivalent constituent and governing documents, including all amendments thereto, of such Loan Party, (1) in the case of a
corporation, certified as of a recent date by the Secretary of State (or other similar official) of the jurisdiction of its organization or (2) otherwise certified in writing by the Secretary or Assistant Secretary of such Loan Party or other
Person duly authorized by the constituent documents of such Loan Party, 
 (ii) a certificate as to the good standing (to the
extent such concept or a similar concept exists under the laws of such jurisdiction) of such Loan Party as of a recent date from such Secretary of State (or other similar official), 

(iii) that attached thereto is a true and complete copy of the by-laws (or partnership agreement, limited liability company
agreement or other equivalent constituent and governing documents) of such Loan Party as in effect on the Closing Date and at all times since a date prior to the date of the resolutions described in clause (iv) below, 

(iv) that attached thereto is a true and complete copy of resolutions duly adopted by the Board of Directors (or equivalent
governing body) of such Loan Party (or its managing general partner or managing member) authorizing the execution, delivery and performance of the Loan Documents dated as of the Closing Date to which such Person is a party and, in the case of the
Borrower, the borrowings hereunder, and that such resolutions have not been modified, rescinded or amended and are in full force and effect on the Closing Date, 

(v) as to the incumbency and specimen signature of each officer executing any Loan Document or any other document delivered in
connection herewith on behalf of such Loan Party, and 
 (vi) as to the absence of any pending proceeding for the dissolution
or liquidation of such Loan Party or, to the knowledge of such Person, threatening the existence of such Loan Party. 
 (d) The
Administrative Agent shall have received a completed Perfection Certificate, dated the Closing Date and signed by a Responsible Officer of the Borrower, together with all attachments contemplated thereby, and the results of a search of the Uniform
Commercial Code 

  
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(or equivalent), tax and judgment, United States Patent and Trademark Office and United States Copyright Office filings made with respect to the Loan Parties in the jurisdictions contemplated by
the Perfection Certificate and copies of the financing statements (or similar documents) disclosed by such search and evidence reasonably satisfactory to the Administrative Agent that the Liens indicated by such financing statements (or similar
documents) are Permitted Liens or have been, or will be simultaneously or substantially concurrently with the closing under this Agreement, released or terminated (or arrangements reasonably satisfactory to the Administrative Agent for such release
or termination shall have been made). 
 (e) The Lenders shall have received a solvency certificate substantially in the form of Exhibit
J and signed by a Financial Officer of the Borrower confirming the solvency of the Borrower and the Subsidiaries on a combined or consolidated basis after giving effect to the Transactions on the Closing Date. 

(f) The Agents shall have received all fees earned, due and payable thereto or to any Lender on or prior to the Closing Date and, to the
extent invoiced, all other amounts due and payable pursuant to the Loan Documents on or prior to the Closing Date, including, to the extent invoiced at least one Business Day prior to the Closing Date, reimbursement or payment of all reasonable and
documented out-of-pocket expenses required to be reimbursed or paid by the Loan Parties hereunder or under any Loan Document (including reasonable fees, charges and disbursements of Stroock & Stroock & Lavan LLP and Kramer Levin
Naftalis & Frankel LLP). 
 (g) Except as set forth in Schedule 5.10 (which, for the avoidance of doubt, shall override the
applicable clauses of the definition of “Collateral Requirement” for the purposes of this Section 4.02) and subject to the grace periods and post-closing periods set forth in such definition, the Collateral Requirement
shall be satisfied (or waived pursuant to the terms hereof) as of the Closing Date. 
 (h) The Administrative Agent shall have received all
documentation and other information required by Section 9.20, to the extent such information has been requested not less than ten (10) Business Days prior to the Closing Date. 

(i) The Borrower shall have delivered to the Administrative Agent a certificate dated as of the Closing Date, to the effect set forth in
Sections 4.01(b) and 4.01(c). 
 (j) The satisfaction of the obligations under or secured by (i) the Prepetition Credit
Agreement, (ii) the 8.50% First Lien Notes Indenture (as defined in the Plan of Reorganization), (iii) the 9.00% First Lien Notes Indenture (as defined in the Plan of Reorganization), (iv) the 11.25% First Lien Notes Indenture (as
defined in the Plan of Reorganization), (v) the 10.00% Second Lien Notes Indenture (as defined in the Plan of Reorganization), (vi) the 12.75% Second Lien Notes Indenture (as defined in the Plan of Reorganization), (vii) the 5.75%
Senior Unsecured Notes Indenture (as defined in the Plan of Reorganization), (viii) the 6.50% Senior Unsecured Notes Indenture (as defined in the Plan of Reorganization), and (ix) the Subsidiary-Guaranteed Notes Indenture (as defined in
the Plan of Reorganization), in each case in the manner contemplated by the Plan of Reorganization. 

  
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 (k) The Plan of Reorganization as in effect on January 13, 2017, at docket no. 6318, shall
not have been amended, modified or supplemented in any manner that could be reasonably expected to materially adversely affect the interests of the Administrative Agent or the Lenders without the written consent of the Required Lenders (such consent
not to be unreasonably withheld, delayed, denied or conditioned, provided that if a Lender does not provide such consent or non-consent within three (3) Business Days of receiving written notice of such proposed amendment, modification or
supplement, then such Lender shall be deemed to have consented to such amendment, modification or supplement). 
 (l) The Bankruptcy Court
shall have entered an order (the “Confirmation Order”), which order (i) shall confirm the Plan of Reorganization, (ii) shall authorize the Transactions, and (iii) shall be in full force and effect and shall not have
been reversed or modified in any manner that could be reasonably expected to materially adversely affect the interests of the Administrative Agent or the Lenders without the written consent of the Required Lenders and shall not be stayed or subject
to a material motion to stay or subject to appeal or petition for review, rehearing or certiorari, and the period for appealing the Confirmation Order shall have elapsed. The Effective Date shall have occurred (and all conditions precedent thereto
as set forth in the Plan of Reorganization shall have been satisfied (or shall be concurrently satisfied) or waived by the Required Lenders. 

(m) CEOC shall have received the PropCo Tax Letter and Parent shall have received the REIT Opinion Letter (each as defined in the Plan of
Reorganization). 
 (n) CEOC shall have deeded or assigned, as applicable, to Borrower and its Subsidiaries the property to be transferred
to Borrower and its Subsidiaries as set forth in the Restructuring Transactions Memorandum (as defined in the Plan of Reorganization). 

(o) Each of (i) the Lease Agreements, (ii) the Management and Lease Support Agreement, (iii) the Right of First Refusal
Agreement, and (iv) the PropCo Call Right Agreement shall have been executed by all parties thereto and shall be in full force and effect in accordance with their terms, in each case in the manner contemplated by the Plan of Reorganization.

 For purposes of determining compliance with the conditions specified in this Section 4.02, each Lender shall be deemed to
have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders unless an officer of the Administrative Agent
responsible for the transactions contemplated by the Loan Documents shall have received written notice from such Lender prior to the Closing Date specifying its objection thereto. 

ARTICLE V 
 Affirmative
Covenants 
 The Borrower covenants and agrees with each Lender that until the Termination Date, the Borrower will, and will cause each
of the Borrower’s Subsidiaries to: 
 Section 5.01 Existence; Businesses and Properties. 

  
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 (a) Do or cause to be done all things necessary to preserve, renew and keep in full force and
effect its legal existence, except, in the case of a Subsidiary of the Borrower, where the failure to do so would not reasonably be expected to have a Material Adverse Effect, and except as otherwise permitted under Section 6.05;
provided that the Borrower may liquidate or dissolve one or more Subsidiaries if the assets of such Subsidiaries (to the extent they exceed estimated liabilities) are acquired by the Borrower or a Wholly-Owned Subsidiary of the Borrower in
such liquidation or dissolution, except that Subsidiary Loan Parties may not be liquidated into Subsidiaries that are not Loan Parties and Domestic Subsidiaries may not be liquidated into Foreign Subsidiaries (except in each case as otherwise
permitted under Section 6.05). 
 (b) Except where the failure to do so would not reasonably be expected to have a Material
Adverse Effect, do or cause to be done all things necessary to (i) lawfully obtain, preserve, renew, extend and keep in full force and effect the permits, franchises, authorizations, patents, trademarks, service marks, trade names, copyrights,
licenses and rights with respect thereto necessary to the normal conduct of its business and (ii) at all times maintain and preserve all tangible property necessary to the normal conduct of its business and keep such property in good repair,
working order and condition (ordinary wear and tear, casualty and condemnation or as otherwise permitted excepted), from time to time make, or cause to be made, all needful and proper repairs, renewals, additions, improvements and replacements
thereto necessary in order that the business carried on in connection therewith, if any, may be properly conducted at all times (in each case except as permitted by this Agreement). 

Section 5.02 Insurance. 

(a) Maintain, with financially sound and reputable insurance companies (as determined in good faith by Borrower), insurance (subject to
customary deductibles and retentions) in such amounts and against such risks as are customarily and reasonably maintained by similarly situated companies engaged in the same or similar businesses operating in the same or similar locations (as
determined in good faith by Borrower) and cause the Loan Parties to be listed as insured and the Collateral Agent to be listed as a co-loss payee on property and property casualty policies and as an additional insured on liability policies.
Notwithstanding the foregoing, the Borrower and the Subsidiaries may self-insure with respect to such risks with respect to which companies of established reputation engaged in the same general line of business in the same general area usually
self-insure (as determined in good faith by the Borrower). 
 (b) With respect to any Mortgaged Properties, if at any time the area in which
the Premises (as defined in the Mortgages) are located is designated a “flood hazard area” in any Flood Insurance Rate Map published by the Federal Emergency Management Agency (or any successor agency) the Borrower and the Subsidiaries
shall obtain flood insurance to the extent required to comply with the National Flood Insurance Program as set forth in the Flood Disaster Protection Act of 1973, as it may be amended from time to time. 

(c) Each Documented Vessel is insured in accordance with the provisions of the Ship Mortgage on such Documented Vessel (or to be recorded on
such Documented Vessel in accordance herewith). 

  
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 (d) Within 30 days of the Closing Date (or such later date agreed by the Administrative Agent),
the Borrower shall provide the Administrative Agent endorsements satisfying the requirements of clause (a) of this Section 5.02. 

(e) In connection with the covenants set forth in this Section 5.02, it is understood and agreed that: 

(i) none of the Administrative Agent, the Lenders, the L/C Issuer and their respective agents or employees shall be liable for
any loss or damage insured by the insurance policies required to be maintained under this Section 5.02, it being understood that (A) the Loan Parties shall look solely to their insurance companies or any other parties other than the
aforesaid parties for the recovery of such loss or damage and (B) such insurance companies shall have no rights of subrogation against the Administrative Agent, the Lenders, any L/C Issuer or their agents or employees. If, however, the
insurance policies, as a matter of the internal policy of such insurer, do not provide waiver of subrogation rights against such parties, as required above, then the Borrower, on behalf of itself and behalf of its Subsidiaries, hereby agrees, to the
extent permitted by law, to waive, and further agrees to cause each of its Subsidiaries to waive, its right of recovery, if any, against the Administrative Agent, the Lenders, any L/C Issuer and their agents and employees; 

(ii) the designation of any form, type or amount of insurance coverage by the Administrative Agent under this
Section 5.02 shall in no event be deemed a representation, warranty or advice by the Administrative Agent or the Lenders that such insurance is adequate for the purposes of the business of the Borrower and the Subsidiaries or the
protection of their properties; and 
 (iii) the amount and type of insurance that the Borrower and its Subsidiaries has in
effect as of the Closing Date satisfies for all purposes the requirements of this Section 5.02. 
 Section 5.03
Taxes. Pay and discharge promptly when due all Taxes, assessments, charges, claims and levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default; provided,
however, that such payment and discharge shall not be required with respect to any such Tax, assessment, charge, levy or claim where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings and the
Borrower or the affected Subsidiary, as applicable, shall have set aside on its books adequate reserves in accordance with GAAP with respect thereto or (b) the failure to make payment would not reasonably be expected, individually or in the
aggregate, to result in a Material Adverse Effect. 
 Section 5.04 Financial Statements, Reports, etc. Furnish to the
Administrative Agent (which will promptly furnish such information to the Lenders): 
 (a) Within 120 days following the end of each fiscal
year (commencing with the fiscal year ending December 31, 2018) and within 135 days for the fiscal year ending December 31, 2017, a combined or consolidated balance sheet and related statements of operations, cash

  
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flows and owners’ equity showing the financial position of the Borrower and the Subsidiaries as of the close of such fiscal year and the combined or consolidated results of their operations
during such year and setting forth in comparative form the corresponding figures for the prior fiscal year, commencing with the fiscal year ending December 31, 2018, which combined or consolidated balance sheet and related statements of
operations, cash flows and owners’ equity shall be prepared in accordance in all material respects with GAAP audited by independent public accountants of recognized national standing and accompanied by an opinion of such accountants (which
opinion shall not be qualified as to scope of audit or as to the status of the Borrower or any Material Subsidiary as a going concern (other than solely with respect to, or resulting solely from (x) an upcoming maturity date under any series of
Indebtedness occurring within one year from the time such opinion is delivered, (y) a prospective or actual Default or Event of Default under Section 6.10 or any other financial maintenance covenant in any agreement governing
Indebtedness of the Borrower or any Subsidiary, or (z) the activities, operations, financial results, assets or liabilities of any Unrestricted Subsidiary) to the effect that such combined or consolidated financial statements fairly present, in
all material respects, the financial position and results of operations of the Borrower and the Subsidiaries on a combined or consolidated basis in accordance with GAAP; 

(b) Within 60 days (or, in the case of the first two fiscal quarters for which quarterly financial statements are required to be delivered
hereunder, within 75 days following the end of such fiscal quarter), following the end of each of the first three fiscal quarters of each fiscal year (commencing with the fiscal quarter ending on or around March 31, 2018), a combined or
consolidated balance sheet and related statements of operations and cash flows showing the financial position of the Borrower and the Subsidiaries as of the close of such fiscal quarter and the combined or consolidated results of their operations
during such fiscal quarter and the then-elapsed portion of the fiscal year (occurring after the Closing Date) and setting forth in comparative form the corresponding figures for the corresponding periods of the prior fiscal year, commencing with the
fiscal year ending December 31, 2019, all of which shall be in reasonable detail and which combined or consolidated balance sheet and related statements of operations and cash flows shall be certified in writing by a Financial Officer of the
Borrower as fairly presenting, in all material respects, the financial position and results of operations of the Borrower and the Subsidiaries on a combined or consolidated basis in accordance with GAAP (subject to normal year-end audit adjustments
and the absence of footnotes); 
 (c) Within five Business Days of any delivery of financial statements under paragraphs (a) or
(b) above, (A) (i) a certificate of a Financial Officer of the Borrower certifying that (x) no Event of Default or Default has occurred or, if such an Event of Default or Default has occurred, specifying the nature and extent
thereof and any corrective action taken or proposed to be taken with respect thereto (y) the amount of Excluded Contributions as of the last day of such financial statements, and (z) the amount of Net Proceeds subject to the
Borrower’s right to reinvestment pursuant to the definition of “Net Proceeds” and (ii) if applicable, setting forth computations calculating the Financial Performance Covenant and (B) a customary management discussion and
analysis and (y) concurrently with any delivery of financial statements under paragraph (a) above, if the accounting firm is not restricted from providing such a certificate by its policies, a certificate of the accounting firm opining on
or certifying such statements stating whether they obtained knowledge during the course of their examinations of such statements of any Default or Event of Default (which certificate may be limited to accounting matters and disclaim responsibility
for legal interpretations); 

  
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 (d) promptly after the same become publicly available, copies of all periodic and other publicly
available reports, proxy statements and, to the extent requested by the Administrative Agent, other materials filed by the Borrower or any of the Subsidiaries with the SEC, or distributed to its stockholders generally, as applicable; 

(e) within 120 days after the beginning of each fiscal year (or such later date as the Administrative Agent may agree), a reasonably detailed
combined or consolidated annual budget for such fiscal year (including a projected combined or consolidated balance sheet of the Borrower and the Subsidiaries as of the end of the following fiscal year, and the related combined or consolidated
statements of projected cash flow and projected income), including a description of underlying assumptions with respect thereto (collectively, the “Budget”), which Budget shall in each case be accompanied by the statement of a
Financial Officer of the Borrower to the effect that, the Budget is based on assumptions believed by such Financial Officer to be reasonable as of the date of delivery thereof; 

(f) promptly after receipt thereof, copies of any Tenant Financial Statements received by the Borrower; 

(g) concurrently with the delivery of financial statements pursuant to Section 5.04(a), an updated Perfection Certificate (or, to
the extent such request relates to specified information contained in the Perfection Certificate, such information) reflecting all changes since the date of the information most recently received pursuant to this paragraph (g) or
Section 5.10(f); 
 (h) promptly, from time to time, such other information regarding the operations, business affairs and
financial condition of the Borrower or any of the Subsidiaries (including without limitation with regard to compliance with the USA PATRIOT Act), or compliance with the terms of any Loan Document, as in each case the Administrative Agent may
reasonably request (for itself or on behalf of the Lenders), in each case other than information that (x) constitutes non-registered intellectual property, non-financial trade secrets or non-financial proprietary information, (y) in
respect of which disclosure to the Administrative Agent or any Lender (or their respective representatives or contractors) is prohibited by law or any binding agreement, or (z) is subject to attorney-client or similar privilege or constitutes
attorney work product; and 
 (i) (i) in the event that in respect of the First Priority Senior Secured Notes, the Second Priority Senior
Secured Notes or any Permitted Refinancing Indebtedness with respect thereto, the rules and regulations of the SEC permit Parent or any Parent Entity to report at Parent or such Parent Entity’s level on a combined or consolidated basis such
combined or consolidated reporting at Parent or such Parent Entity’s level in a manner consistent with that described in paragraphs (a) and (b) of this Section 5.04 for the Borrower will satisfy the requirements of such
paragraphs and (ii) notwithstanding the foregoing, it is understood and agreed that until such time as Parent shall have filed a registration statement with the SEC with respect to the First Priority Senior Secured Notes or the Second Priority
Senior Secured Notes, the combined or consolidated financial statements required by this Section 5.04 may be satisfied by the delivery of financial statements that are prepared on a basis consistent with the presentation thereof under
“Exhibit G” in the Disclosure Statement. 

  
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 Notwithstanding the foregoing, the obligations in clauses (a), (b), (c) and
(d) of this Section 5.04 may be satisfied with respect to financial information of the Borrower and the Subsidiaries by furnishing (A) the applicable financial statements of the Parent Entity or
(B) the Form 10-K or 10-Q or other applicable SEC filing of the Parent Entity, filed with the SEC; provided that, with respect to each of subclauses (A) and (B) of this Section 5.04, to the extent such
information relates to a parent of the Parent, such information is accompanied by an unaudited consolidated income statement and balance sheet that explains in reasonable detail the differences between the information relating to such parent, on the
one hand, and the information relating to the Borrower and the Subsidiaries on a standalone basis, on the other hand. 
 Section 5.05
Litigation and Other Notices. Furnish to the Administrative Agent (which will promptly thereafter furnish to the Lenders) written notice of the following promptly after any Responsible Officer of the Borrower obtains actual knowledge thereof:

 (a) any Event of Default or Default, specifying the nature and extent thereof and the corrective action (if any) proposed to be taken
with respect thereto; 
 (b) the filing or commencement of, or any written threat or notice of intention of any Person to file or commence,
any action, suit or proceeding, whether at law or in equity or by or before any Governmental Authority (including any action, suit or proceeding by or subject to decision by any Gaming Authority) or in arbitration, against the Borrower or any of the
Subsidiaries as to which an adverse determination is reasonably probable and which, if adversely determined, would reasonably be expected to have a Material Adverse Effect; 

(c) any other development specific to the Borrower or any of the Subsidiaries that is not a matter of general public knowledge and that has
had, or would reasonably be expected to have, a Material Adverse Effect; 
 (d) the occurrence of any ERISA Event that, together with all
other ERISA Events, would reasonably be expected to have a Material Adverse Effect; and 
 (e) promptly after the same are available, copies
of any written communication to the Borrower or any of its Subsidiaries from any Gaming Authority advising it of a material violation of, or material non-compliance with, any Gaming Law by the Borrower or any of its Subsidiaries. 

Section 5.06 Compliance with Laws. Comply with all laws, rules, regulations and orders of any Governmental Authority applicable to
it or its property, including all Gaming Laws and the Economic Sanction Laws, except that the Borrower and the Subsidiaries need not comply with any laws, rules, regulations and orders of any Governmental Authority then being contested by any of
them in good faith by appropriate proceedings, and except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect; provided that this Section 5.06 shall not
apply to Environmental Laws, 
 which are the subject of Section 5.09, or to laws related to Taxes, which are the subject of
Section 5.03. 

  
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 Section 5.07 Maintaining Records; Access to Properties and Inspections. Maintain all
financial records in accordance in all material respects with GAAP and permit any Persons designated by the Administrative Agent or, upon the occurrence and during the continuance of an Event of Default, any Lender to visit and inspect the financial
records and the properties of the Borrower or any of the Subsidiaries at reasonable times, upon reasonable prior notice to the Borrower, and as often as reasonably requested (provided, however, that except during the continuance of an Event of
Default, only one visit per calendar year shall be reimbursed by any Loan Party or Subsidiary) and to make extracts from and copies of such financial records, and permit any Persons designated by the Administrative Agent or, upon the occurrence and
during the continuance of an Event of Default, any Lender upon reasonable prior notice to such Borrower to discuss the affairs, finances and condition of the Borrower or any of the Subsidiaries with the officers thereof and independent accountants
therefor (so long as the Borrower has the opportunity to participate in any such discussions with such accountants), in each case, notwithstanding anything to the contrary in this Section 5.07, no Loan Party or any of the Subsidiaries
will be required to disclose, permit the inspection, examination or making copies or abstracts of, or discussion of, any document, information or other matter that (x) constitutes non-registered intellectual property, non-financial trade
secrets or non-financial proprietary information, (y) in respect of which disclosure to the Administrative Agent or any Lender (or their respective representatives or contractors) is prohibited by law or any binding agreement, or (z) is
subject to attorney-client or similar privilege or constitutes attorney work product. The Borrower shall cause the appropriate members of its management to participate in one conference call with Lenders per fiscal year at a time to be mutually
agreed by the Borrower and the Administrative Agent. 
 Section 5.08 Use of Proceeds. Use the proceeds of the Loans in the
manner set forth in Section 3.12. 
 Section 5.09 Compliance with Environmental Laws. Comply, and make commercially
reasonable efforts to cause all lessees and other Persons occupying its properties to comply, with all Environmental Laws applicable to its operations and properties; and obtain and renew all material authorizations and permits required pursuant to
Environmental Law for its operations and properties, in each case in accordance with Environmental Laws; except, in each case with respect to this Section 5.09, to the extent the failure to do so would not reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect. 
 Section 5.10 Further Assurances; Additional Security. 

(a) Execute any and all further documents, financing statements, agreements and instruments, and take all such further actions (including the
filing and recording of financing statements, fixture filings, Mortgages, Ship Mortgages, Insurance Assignments, Earnings Assignments and other documents and recordings of Liens in stock registries), that the Collateral Agent or Security Trustee (as
the case may be) may reasonably request, to satisfy the Collateral Requirement and to cause the Collateral Requirement to be and remain satisfied, all at the expense of the Loan Parties and provide to the Collateral Agent and the Security Trustee
(as the 

  
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case may be), from time to time upon reasonable request, evidence reasonably satisfactory to the Collateral Agent and the Security Trustee (as the case may be), in each case, as to the perfection
and priority of the Liens created or intended to be created by the Security Documents, subject in each case to paragraph (g) below. 

(b) If any asset (other than Real Property and Documented Vessels, which are covered by paragraph (c) below) that has an individual Fair
Market Value greater than $10,000,000 measured at time of acquisition is acquired by any Loan Party or any assets (other than Real Property, deposit accounts and Documented Vessels, which are covered by paragraph (c) below) with an aggregate
Fair Market Value greater than $30,000,000 measured at time of acquisition are acquired by any Loan Party after the Closing Date (in each case other than (x) assets constituting Collateral under a Security Document that become subject to the
Lien of such Security Document upon acquisition thereof and (y) assets constituting Excluded Property), such Loan Party will (i) promptly notify the Collateral Agent thereof and (ii) take or cause the Subsidiary Loan Parties to take
such actions as shall be reasonably requested by the Collateral Agent to grant and perfect such Liens (subject to any Permitted Liens), including actions described in paragraph (a) of this Section, all at the expense of the Loan Parties,
subject to paragraph (g) below. Notwithstanding the foregoing, the aggregate Fair Market Value of each type of assets that would be Collateral but for the individual materiality threshold set forth in this sub-clause shall not exceed
$30,000,000 in the aggregate per type of asset. 
 (c) (i) Promptly notify the Administrative Agent of the acquisition (which for this
clause (c) shall include the improvement of any Real Property that was not Owned Real Property that results in it qualifying as Owned Real Property) of and will grant and cause each of the Subsidiary Loan Parties to grant to the Collateral
Agent security interests in, and mortgages on, such Owned Real Property of any Loan Parties that are not Mortgaged Property as of the Closing Date and/or Pledged Leasehold Interests of any Loan Parties that are not Mortgaged Property as of the
Closing Date, to the extent acquired after the Closing Date, within 120 days after such acquisition (or such later date as the Collateral Agent may agree in its reasonable discretion), pursuant to documentation substantially in the form of
Exhibit E-1 (as modified to reflect the requirement of the jurisdiction in which the Real Property is located) or in such other form as is reasonably satisfactory to the Collateral Agent (each, an “Additional Mortgage”) and
constituting valid and enforceable (subject to (i) the effects of bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally and (ii) general principles of
equity (regardless of whether such enforceability is considered in a proceeding in equity or at law)) Liens subject to no other Liens at the time of recordation thereof, other than Permitted Liens, and cause each such Subsidiary Loan Party to record
or file, the Additional Mortgage or instruments related thereto in such manner and in such places as is required by law to establish, perfect, preserve and protect the Liens in favor of the Collateral Agent required to be granted pursuant to the
Additional Mortgages and pay, and cause each such Subsidiary Loan Party to pay, in full, all Taxes, fees and other charges required to be paid in connection therewith, in each case subject to paragraph (g) below. Unless otherwise waived by the
Collateral Agent, with respect to each such Additional Mortgage, the Borrower shall deliver to the Collateral Agent contemporaneously therewith a flood hazard determination (along with an executed borrower’s notice and evidence of insurance as
necessary), customary opinions of local counsel, a title insurance policy insuring Collateral Agent’s first priority (subject to Permitted Liens) Lien on the Real Property in an amount reasonably acceptable to the

  
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Administrative Agent, in each case, up to an aggregate maximum amount equal to the amount of the Borrower’s owner’s policy for such property and an ALTA survey of the owned Real
Property and otherwise comply with the Collateral Requirements applicable to Mortgages and Mortgaged Property. Notwithstanding the foregoing in this paragraph (i), to the extent that the Borrower anticipates in good faith (1) delivering a
Project Notice to the Administrative Agent with respect to any such Owned Real Property acquired after the Closing Date within forty-five (45) days following such acquisition and (2) that such Project Notice would result in the release of
a Mortgage securing the Obligations pursuant to Section 5.11(a) (if there were a Mortgage on such Owned Real Property), then the applicable Loan Party shall not be required to deliver an Additional Mortgage with respect to such Owned
Real Property pursuant to this paragraph (i) (and such Owned Real Property will instead be subject to Section 5.11 below). If the Borrower has not delivered a Project Notice with respect to such Owned Real Property within such
forty-five (45) day period, then the Borrower or Loan Party shall promptly take the actions required to be taken pursuant to this paragraph (i). 

(ii) Promptly notify the Administrative Agent of the acquisition of and will grant and cause each of the Subsidiary Loan Parties to grant to
the Collateral Agent and the Security Trustee (as applicable) security interests and first preferred mortgages in such owned Replacement Vessels or other Documented Vessels of the Borrower or any such Subsidiary Loan Party, other than Excluded
Property, as are not covered by the original Ship Mortgages, Insurance Assignments and Earnings Assignments to the extent that they are acquired after the Closing Date, pursuant to documentation substantially in the form of the Ship Mortgages (each,
an “Additional Ship Mortgage”) and substantially in the form of the related Insurance Assignments and Earnings Assignments delivered to the Collateral Agent and the Security Trustee (as applicable) on the Closing Date or in such
other form as is reasonably satisfactory to the Collateral Agent and the Security Trustee (as applicable) and constituting valid and enforceable security interests and first preferred mortgages subject to no other Liens except Permitted Liens at the
time of perfection thereof, record or file, and cause each such Subsidiary Loan Party to record or file, the Additional Ship Mortgage or instruments related thereto in such manner and in such places as is required by law to establish, perfect,
preserve and protect the Liens in favor of the Collateral Agent and the Security Trustee (as applicable) required to be granted pursuant to the Additional Ship Mortgages, the Earnings Assignments and the Insurance Assignments and pay, and cause each
Subsidiary Loan Party to pay, in full, all Taxes, fees and other charges payable in connection therewith, in each case subject to paragraph (g) below. In addition, the Borrower or the relevant Subsidiary Loan Party shall deliver to the
Collateral Agent and the Security Trustee (as applicable) contemporaneously therewith insurance policies complying with the requirements of the Ship Mortgages and Insurances Assignments and otherwise comply with the Collateral Requirements
applicable to Ship Mortgages and Mortgaged Vessels. 
 (d) If any additional direct or indirect Subsidiary of the Borrower is formed or
acquired after the Closing Date (with any Subsidiary Redesignation resulting in an Unrestricted Subsidiary becoming a Subsidiary being deemed to constitute the acquisition of a Subsidiary) and if such Subsidiary is a Domestic Subsidiary (other than
an Excluded Subsidiary), within thirty (30) days after the date such Domestic Subsidiary is formed or acquired (or such longer period as the Collateral Agent may reasonably agree), notify the Collateral Agent thereof and, within forty-five
(45) days after the date such Domestic Subsidiary is formed or acquired or such 

  
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longer period as the Collateral Agent shall agree (or, with respect to clauses (g) and (h) of the definition of “Collateral Requirement,” within 90 days after such
formation or acquisition or such longer period as set forth therein or as the Collateral Agent may agree in its reasonable discretion, as applicable), cause the Collateral Requirement to be satisfied with respect to such Domestic Subsidiary and with
respect to any Equity Interest in or Indebtedness of such Domestic Subsidiary owned by or on behalf of any Loan Party, subject in each case to paragraph (g) below. 

(e) If any additional Foreign Subsidiary or FSHCO of the Borrower is formed or acquired after the Closing Date (with any Subsidiary
Redesignation resulting in an Unrestricted Subsidiary becoming a Subsidiary being deemed to constitute the acquisition of a Subsidiary) and if such Subsidiary constitutes a “first tier” Foreign Subsidiary or FSHCO of a Loan Party, within
thirty (30) days after the date such Foreign Subsidiary or FSHCO is formed or acquired (or such longer period as the Collateral Agent may agree), notify the Collateral Agent thereof and, within thirty (30) days after the date such Foreign
Subsidiary or FSHCO is formed or acquired or such longer period as the Collateral Agent shall agree, cause the Collateral Requirement to be satisfied with respect to any Equity Interest in such Foreign Subsidiary or FSHCO owned by or on behalf of
any Loan Party, subject in each case to paragraph (g) below. 
 (f) Furnish to the Collateral Agent promptly (and in any event within
15 days after such change or such later date as agreed to by the Administrative Agent) written notice of any change (A) in any Loan Party’s corporate or organization name, (B) in any Loan Party’s identity or organizational
structure, (C) in any Loan Party’s organizational identification number, or (D) in any Loan Party’s jurisdiction of organization; provided, that no Loan Party shall effect or permit any such change unless all filings have
been made, or will have been made within any statutory period, under the Uniform Commercial Code or otherwise that are required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and perfected
security interest in all the Collateral for the benefit of the Secured Parties with the same priority as prior to such change. 
 (g) The
Collateral Requirement and the other provisions of this Section 5.10 and the other provisions of the Loan Documents with respect to Collateral need not be satisfied with respect to any of the following (collectively, the
“Excluded Property”): (i) (A) any Real Property held by a Loan Party as a lessee under a lease (x) for which the applicable Loan Party pays rent of less than $10,000,000 per year; provided that the aggregate
Fair Market Value of such Real Property that constitutes Excluded Property shall not exceed $30.0 million in the aggregate per year or (y) if such lease prohibits the grant of a Mortgage on such Real Property and such Loan Party fails to obtain
the consent of the landlord therefor after use of commercially reasonable efforts to obtain such consent (collectively, “Excluded Leasehold Interests”), (B) any Vessel held by a Loan Party as a lessee under a lease and
(C) Owned Real Property or owned Vessels, in each case, with a Fair Market Value of less than $10.0 million individually; provided that (x) the aggregate Fair Market Value of Owned Real Property that constitutes Excluded Property
shall not exceed $30.0 million in the aggregate and (y) the aggregate Fair Market Value of owned Vessels that constitute Excluded Property shall not exceed $30.0 million in the aggregate, (ii) motor vehicles and other assets subject to
certificates of title and letter of credit rights (in each case, other than to the extent a Lien on such assets or such rights can be perfected by filing a UCC-1), and commercial tort claims with a value of less than $10.0 million individually;

  
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provided that the amount of commercial tort claims that constitute Excluded Property shall not exceed $30.0 million in the aggregate, (iii) pledges and security interests prohibited
by applicable law, rule, regulation (including any Gaming Law) or enforceable contractual obligation (x) that existed at the time of the acquisition thereof and was not created or made binding on the assets in contemplation or in connection
with the acquisition of such assets (except in the case of assets (A) owned on the Closing Date or (B) acquired after the Closing Date with Indebtedness of the type permitted pursuant to clauses (i) or (j) of
Section 6.01) (in each case, except to the extent such prohibition is unenforceable after giving effect to the applicable anti-assignment provisions of Article 9 of the Uniform Commercial Code of any applicable jurisdiction) or
(y) with regard to which contract such counterparty thereto requires such prohibition as a condition to entering into such contract and such contract has been entered into in the ordinary course of business and such restriction is consistent
with industry custom and consent has been requested and not received, in each case only so long as such pledge and security interest would violate any such law, rule, regulation or enforceable contractual obligation, (iv) assets to the extent a
security interest in such assets could reasonably be expected to result in adverse tax consequences (other than a de minimis tax consequence) (as determined in good faith by the Borrower), (v) those assets as to which the Collateral Agent and
the Borrower reasonably agree that the costs or other consequence of obtaining or perfecting such a security interest or perfection thereof are excessive in relation to the value of the security to be afforded thereby, (vi) any lease, license
or other agreement to the extent that a grant of a security interest therein would, without the consent of the counterparty, violate or invalidate such lease, license or agreement or create a right of termination in favor of any other party thereto
(other than the Borrower or any other Loan Party) after giving effect to, except in the case of a lease in respect of a Capitalized Lease Obligation or property subject to a Lien permitted pursuant to Section 6.02(h) or (i), the
applicable anti-assignment provisions of Article 9 of the Uniform Commercial Code, (vii) any governmental licenses (including gaming licenses) or state or local franchises, charters and authorizations, to the extent security interests in such
licenses, franchises, charters or authorizations are prohibited or restricted thereby after giving effect to the applicable anti-assignment provisions of Article 9 of the Uniform Commercial Code, (viii) pending United States
“intent-to-use” trademark applications for which a verified statement of use or an amendment to allege use has not been filed with and accepted by the United States Patent and Trademark Office, (ix) other customary exclusions under
applicable local law or in applicable local jurisdictions set forth in the Security Documents, (x) any Excluded Securities, (xi) Excluded Accounts, and (xii) for the avoidance of doubt, any assets owned by, or the Equity Interests of,
any Qualified Non-Recourse Subsidiary or any other asset securing any Qualified Non-Recourse Debt or Project Financing (which shall in no event constitute Collateral hereunder, nor shall any Qualified Non-Recourse Subsidiary be a Loan Party
hereunder); provided, that the Borrower may in their sole discretion elect to exclude any property from the definition of Excluded Property. Notwithstanding anything to the contrary in this Agreement, the Collateral Agreement, or any other
Loan Document, (i) no foreign law governed security documents shall be required, (ii) Liens required to be granted from time to time pursuant to the Collateral Requirement and the Security Documents shall be subject to exceptions and
limitations set forth in the Security Documents, and (iii) to the extent any Mortgaged Property is located in a jurisdiction with mortgage recording or similar tax, the amount secured by the Security Document with respect to such Mortgaged
Property shall be limited to the Fair Market Value of such Mortgaged Property (subject to any applicable laws in the relevant jurisdiction or such lesser amount agreed to by the Collateral Agent). 

  
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 (h) The Borrower shall, or shall cause the applicable Loan Parties to, satisfy the requirements
listed on Schedule 5.10 within the timeframes indicated thereon. 
 Section 5.11 Real Property Development Matters. 

(a) Releases of Mortgaged Property. In the event that the Borrower delivers a Project Notice to the Administrative Agent with respect
to all or any portion of a Mortgaged Property or Mortgaged Properties constituting Undeveloped Land identifying the applicable Mortgaged Property or Properties, providing a reasonable description of the Project that the Borrower anticipates in good
faith to be undertaken with respect to such Mortgaged Property or Properties constituting Undeveloped Land and identifying the Project Financing to be entered into in connection with the financing of such Project, then, if (x) the terms of such
Project Financing require the release of the Mortgage securing the Obligations and (y) in the case of Undeveloped Land acquired after the Closing Date, the Borrower and its Subsidiaries are in Pro Forma Compliance after giving effect to such
Project Financing, on the later of the date that is ten (10) Business Days following the date of the delivery of the Project Notice to the Administrative Agent and the date a mortgage or other security document securing the Project Financing is
executed and delivered for recording pending, or is executed and delivered substantially concurrently with, the release of the Mortgage securing the Obligations, the security interest and Mortgage on the applicable Mortgaged Property or Properties
subject to such Project Financing shall be automatically released, all without delivery of any instrument or performance of any act by any party (and any Loan Party shall be permitted to take any action in connection therewith consistent with such
release including, without limitation, the filing of UCC termination statements). In connection with any such termination or release, the Administrative Agent and Collateral Agent shall execute and deliver (or cause to be executed or delivered) to
any Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence such termination or release (including, without limitation, mortgage releases (including partial mortgage releases in the case
where the Mortgaged Property covered by any Mortgage includes Mortgaged Property not subject to such release) and UCC termination statements). Any execution and delivery of documents pursuant to this Section 5.11 shall be without
recourse to or warranty by the Administrative Agent or Collateral Agent. With respect to any Owned Real Property owned by any Loan Party that is subject to a Project Financing pursuant to this Section 5.11, no second Lien mortgages may
be placed on such Owned Real Property while such Project Financing is outstanding. 
 (b) New Mortgages on Developed Properties. 

(i) Promptly (but in no event later than 120 days (or such longer time as the Administrative Agent shall permit in its
reasonable discretion)) following the final completion of construction (as defined in the applicable engineering, procurement and construction contract) of any Project for which a Project Notice was previously delivered to the Administrative Agent,
the Borrower shall notify the Administrative Agent of the completion of such Project and, to the extent permitted by the terms of the applicable Project Financing (provided that to the extent the terms of the applicable Project

  
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Financing restrict the taking of such actions, the Borrower shall take such actions promptly (but in no event later than 20 Business Days (or such longer period as the Administrative Agent shall
permit in its reasonable discretion)) following the cessation of such restrictions), shall take the actions specified in clause (iii) below; 

(ii) Promptly (but in no event later than 120 days (or such longer time as the Administrative Agent shall permit in its
reasonable discretion)) following the abandonment or termination by the Borrower of any Project for which a Project Notice was previously delivered to the Administrative Agent, such Borrower shall notify the Administrative Agent of the abandonment
or termination of such Project and, unless the Borrower delivers a new Project Notice with respect to the Real Property subject to such Project within such 20 Business Days (or such longer time permitted by the Administrative Agent), shall take the
actions specified in clause (iii) below; 
 (iii) To the extent required by the foregoing clauses (i) and (ii), the
Borrower shall (w) release or cause any applicable Subsidiary Loan Party to release all security interests or mortgages on the Real Property subject to such Project securing such Project Financing, (x) grant or cause any applicable
Subsidiary Loan Party to grant to the Collateral Agent Additional Mortgages in any such Owned Real Property of such Loan Party subject to such Project as are not covered by the original Mortgages, constituting valid and enforceable Liens subject to
no other Liens except Permitted Liens at the time of recordation thereof, (y) record or file, and cause such Subsidiary Loan Party to record or file, the Additional Mortgage or instruments related thereto in such manner and in such places as is
required by law to establish, perfect, preserve and protect the Liens in favor of the Collateral Agent required to be granted pursuant to the Additional Mortgages, and (z) pay, and cause such Subsidiary Loan Party to pay, in full, all Taxes,
fees and other charges payable in connection therewith, in each case subject to Section 5.10(g). Unless otherwise waived by the Collateral Agent, with respect to each such Additional Mortgage, the applicable Borrower shall deliver to the
Collateral Agent contemporaneously therewith a title insurance policy insuring the Collateral Agent’s first priority (subject to Permitted Liens) Lien on the Real Property in an amount reasonably acceptable to the Administrative Agent, in each
case, up to an aggregate maximum amount equal to the amount of the Borrower’s owner’s policy for such property and an ALTA survey and otherwise comply with the Collateral Requirements applicable to Mortgages and Mortgaged Property. 

(c) Release of Liens. Promptly (but in no event later than 60 Business Days (or such longer time as the Administrative Agent shall
permit in its reasonable discretion)) following the final completion of construction (as defined in the applicable engineering, procurement and construction contract) of any Project relating to a Mortgaged Property (other than with respect to which
a Project Notice has been delivered), the Borrower shall notify the Administrative Agent of the completion of such Project and, to the extent permitted by the terms of any such third party mortgage financing Indebtedness (provided that to the
extent the terms of the applicable mortgage financing Indebtedness restrict the taking of such actions, the applicable Borrower shall take such actions promptly (but in no event later than 60 Business Days (or such longer period as the
Administrative Agent shall permit in its reasonable discretion)) following the cessation of such restrictions), shall and shall cause any applicable Subsidiary Loan Party to 

  
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release all third party mortgage financing Indebtedness for such Project (if any) and file and record any and all necessary documents to restore the first priority security interest and Lien of
the original Mortgage relating to the Mortgaged Property that was the subject of the Project and pay, and cause such Subsidiary Loan Party to pay, in full, all Taxes, fees and other charges payable in connection therewith, in each case subject to
Section 5.10(g). Unless otherwise waived by the Collateral Agent, the Borrower shall deliver to the Collateral Agent contemporaneously therewith a bring down endorsement to title insurance policy and a survey and otherwise comply with
the Collateral Requirements applicable to Mortgages and Mortgaged Property. 
 Section 5.12 Rating. Exercise commercially
reasonable efforts to maintain ratings from each of Moody’s and S&P for the Term B Loans. 
 Section 5.13 Management
Agreement. Any amendments, modifications or supplements to the Management and Lease Support Agreement shall (i) be made on an arm’s-length basis and on “market” terms (including caps on amounts and consent rights relating to
the modifications of applicable agreements relating thereto) as determined in good faith by the Borrower (such terms in the Management and Lease Support Agreement as of the Closing Date are acknowledged by the Administrative Agent and Lenders to be
on an arm’s-length basis and on “market” terms) and (ii) not otherwise materially and adversely affect the Lenders. 

Section 5.14 Fiscal Year. Except with the consent of the Administrative Agent, maintain the fiscal year of the Borrower as ending
December 31. 
 Section 5.15 No Other “Designated Senior Debt”. Designate (a) the Obligations under this
Agreement and the other Loan Documents, (b) any Permitted Refinancing Indebtedness thereof, (c) any series of First Lien Notes or Refinancing Notes constituting Other First Lien Obligations, and (d) any Indebtedness incurred pursuant
to Sections 6.01(r) and (ee), as “Designated Senior Debt” or any other similar term for the purpose of the definition of the same or the subordination provisions contained in any indenture or other definitive documentation governing any
senior subordinated notes or subordinated loans permitted to be incurred hereunder that constitute Material Indebtedness. 

Section 5.16 Citizenship and Certificates of Documentation. Each Loan Party which owns a Mortgaged Vessel (i) shall remain a
citizen of the United States within the meaning of 46 U.S.C. §50501(b), (ii) shall remain duly qualified to engage in the trade in which each such Mortgaged Vessel operates and (iii) procure that each such Mortgaged Vessel maintains a
valid certificate of documentation with such endorsements as shall qualify such Mortgaged Vessel for participation in the trades and services to which it may be dedicated from time to time. 

ARTICLE VI 
 Negative Covenants

 The Borrower covenants and agrees with each Lender that, until the Termination Date, the Borrower will not, and will not permit any
of the Subsidiaries to: 

  
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 Section 6.01 Indebtedness. Incur, create, assume or suffer or permit to exist any
Indebtedness, except: 
 (a) (i) (A) Indebtedness existing on the Closing Date (provided that any Indebtedness that is in excess
of $5,000,000 individually or $25,000,000 in the aggregate shall only be permitted under this clause (a)(i) to the extent such Indebtedness is set forth on Schedule 6.01) and (B) any Permitted Refinancing Indebtedness incurred to
Refinance such Indebtedness (other than intercompany indebtedness Refinanced with Indebtedness owed to a Person not affiliated with the Borrower or any Subsidiary) and (ii) intercompany Indebtedness existing on the Closing Date; provided
that (i) all such Indebtedness, if owed to a Loan Party, shall be evidenced by the Global Intercompany Note or other promissory note and shall be subject to a perfected Lien in favor of the Collateral Agent and (ii) any such Indebtedness
of a Loan Party to any Subsidiary that is not a Loan Party shall be subordinated to the Loan Obligations under this Agreement on subordination terms as described in the Global Intercompany Note; 

(b) (i) Indebtedness created hereunder (including pursuant to Section 2.21) or secured pursuant hereto and under or pursuant to
the other Loan Documents and (ii) any Permitted Refinancing Indebtedness incurred to Refinance such Obligations; 
 (c) Indebtedness of
the Borrower or any Subsidiary pursuant to (i) Swap Agreements not entered into for speculative purposes and (ii) Swap Agreements entered into in connection with the Transactions; 

(d) Indebtedness owed to (including obligations in respect of letters of credit or bank guarantees or similar instruments for the benefit of)
any Person providing workers’ compensation, health, disability or other employee benefits or property, casualty or liability insurance to the Borrower or any Subsidiary, pursuant to reimbursement or indemnification obligations to such Person,
in each case in the ordinary course of business or consistent with past practice or industry practices; 
 (e) Indebtedness of the Borrower
to any Subsidiary and of any Subsidiary to the Borrower or any other Subsidiary; provided, that (i) all such Indebtedness, if owed to a Loan Party, shall be evidenced by the Global Intercompany Note and shall be subject to a perfected
Lien in favor of the Administrative Agent and (ii) other than in the case of intercompany current liabilities incurred in the ordinary course of business in connection with the cash management, tax and accounting operations of the Borrower and
the Subsidiaries, (x) Indebtedness of any Subsidiary that is not a Loan Party owing to any Loan Parties shall be subject to Section 6.04(b) or (gg) and (y) Indebtedness of the Borrower to any Subsidiary and Indebtedness
of any Loan Party to any Subsidiary that is not a Loan Party (the “Subordinated Intercompany Debt”) shall be subordinated to the Loan Obligations under this Agreement on subordination terms as described in the Global Intercompany
Note or on other subordination terms reasonably satisfactory to the Administrative Agent and the Borrower; 
 (f) Indebtedness in respect of
performance bonds, bid bonds, appeal bonds, surety bonds and completion guarantees and similar obligations (other than, in each case, Permitted Non-Recourse Guarantees); provided that all such
Indebtedness is incurred in the ordinary course of business or consistent with past practice or industry practices, including those incurred to secure health, safety and environmental obligations in the ordinary course of business or consistent with
past practice or industry practices; 

  
 150 

 (g) Indebtedness arising from the honoring by a bank or other financial institution of a check,
draft or similar instrument drawn against insufficient funds in the ordinary course of business or other cash management services in the ordinary course of business; 

(h) (i) Indebtedness of a Subsidiary acquired after the Closing Date or an entity merged into or consolidated with the Borrower or any
Subsidiary after the Closing Date and Indebtedness otherwise incurred or assumed by the Borrower or any Subsidiary in connection with the acquisition of assets or Equity Interests (in each case, including a Permitted Business Acquisition or in
connection with the acquisition of Subsidiaries and assets pursuant to the Transactions), where such acquisition, merger, consolidation or amalgamation is not prohibited by this Agreement and (ii) any Permitted Refinancing Indebtedness incurred
to Refinance such Indebtedness; provided, (A) such Indebtedness is (I) unsecured, (II) secured by a Lien on the Collateral that is junior in right of security to the Liens on the Collateral securing the Obligations or (III) secured by
Excluded Property, (B) no Event of Default shall have occurred and be continuing or would result therefrom, and (C) immediately after giving effect to such acquisition, merger, consolidation or amalgamation, the assumption and incurrence
of any Indebtedness (x) that is secured by a Lien on the Collateral that is junior in right of security to the Liens on the Collateral securing the Obligations, the Total Secured Leverage Ratio on a Pro Forma Basis is (I) less than or
equal to 8.98 to 1.00 or (II) no greater than the Total Secured Leverage Ratio immediately prior to giving effect to the incurrence of such Indebtedness and acquisition of such assets or Equity Interests, or (y) that is unsecured Indebtedness
or Indebtedness secured by a Lien on Excluded Property, the Total Leverage Ratio on a Pro Forma Basis is (I) less than or equal to 8.98 to 1.00 or (II) no greater than the Total Leverage Ratio immediately prior to giving effect to the
incurrence of such Indebtedness and acquisition of such assets or Equity Interests; 
 (i) (i) Capitalized Lease Obligations, mortgage
financings and other purchase money Indebtedness incurred by the Borrower or any Subsidiary prior to or within 270 days after the acquisition, lease, construction, repair, replacement or improvement of the respective property (real or personal, and
whether through the direct purchase of property or the Equity Interests of any Person owning such property) permitted under this Agreement in order to finance such acquisition, lease, construction, repair, replacement or improvement, in an aggregate
outstanding principal amount not to exceed the greater of $50,000,000 and 1.00% of Adjusted Total Assets and (ii) any Permitted Refinancing Indebtedness in respect thereof; 

(j) [reserved]; 
 (k) (i) other
Indebtedness of the Borrower or any Subsidiary, in an aggregate principal amount that at the time of, and immediately after giving effect to, the incurrence thereof, would not exceed the greater of $100,000,000 and 2.33% of Adjusted Total Assets,
and (ii) any Permitted Refinancing Indebtedness in respect thereof; provided, however that such Indebtedness incurred pursuant to this Section 6.01(k) may not be secured by a Lien on the Collateral that ranks pari
passu with the Liens on the Collateral securing the Initial Term B Loans or the Revolving Loans; 

  
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 (l) (i) Indebtedness (x) in respect of the First Priority Senior Secured Notes in an
aggregate principal amount that is not in excess of $[431,000,000] and (y) in respect of the Second Priority Senior Secured Notes in an aggregate principal amount that is not in excess of $[1,758,000,000] and (ii) any Permitted Refinancing
Indebtedness incurred to Refinance any such Indebtedness; 
 (m) Guarantees (i) by any Loan Party of Indebtedness of any other Loan
Party permitted to be incurred under this Agreement, (ii) by any Loan Party of Indebtedness otherwise permitted hereunder of any Subsidiary that is not a Loan Party to the extent such Guarantees are permitted by Section 6.04 (other
than Section 6.04(w)), (iii) by any Subsidiary that is not a Loan Party of Indebtedness of another Subsidiary that is not a Loan Party, and (iv) by the Borrower of Indebtedness of Subsidiaries that are not Loan Parties incurred
for working capital purpose in the ordinary course of business on ordinary business terms so long as such Indebtedness is permitted to be incurred under Section 6.01(s) and to the extent such Guarantees are permitted by
Section 6.04 (other than Section 6.04(w)); provided, that Guarantees by any Loan Party under this Section 6.01(m) of any other Indebtedness of a Person that is subordinated to other Indebtedness of such
Person shall be subordinated to the Loan Obligations to at least the same extent such underlying Indebtedness is so subordinated; 
 (n)
Indebtedness arising from agreements of the Borrower or any Subsidiary providing for indemnification, adjustment of purchase or acquisition price or similar obligations (other than Permitted Non-Recourse Guarantees), in each case, incurred or
assumed in connection with the Transactions and any Permitted Business Acquisition, other Investments or the disposition of any business, assets or a Subsidiary not prohibited by this Agreement; 

(o) Indebtedness in respect of letters of credit, bank guarantees, warehouse receipts or similar instruments issued to support performance
obligations and trade letters of credit (other than obligations in respect of other Indebtedness) in the ordinary course of business or consistent with past practice or industry practice; 

(p) Indebtedness supported by a Letter of Credit so long as the aggregate principal amount of such Indebtedness at any time outstanding does
not exceed the stated amount of such Letter of Credit at such time; 
 (q) Indebtedness consisting of (i) the financing of insurance
premiums or (ii) take-or-pay obligations contained in supply arrangements, in each case, in the ordinary course of business; 
 (r) (i)
other Indebtedness so long as (A) no Event of Default shall have occurred and be continuing or would result therefrom, and (B) after giving effect to the issuance, incurrence or assumption of such Indebtedness (x) in the case of
Indebtedness that is secured by a Lien on the Collateral that is pari passu in right of security with the Liens on the Collateral securing the Obligations, the Senior Secured Leverage Ratio on a Pro Forma Basis is not greater than 5.41 to
1.00, (y) in the case of Indebtedness that is secured by a Lien on the Collateral that is junior in right of security to the Liens on the Collateral securing the Obligations, the Total Secured Leverage Ratio on a Pro Forma Basis shall not be
greater than 8.98 to 1.00, and (z) in the case of unsecured Indebtedness, the Total Leverage Ratio on a Pro Forma Basis is less than or equal to 

  
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8.98 to 1.00 and (ii) Permitted Refinancing Indebtedness in respect thereof; provided, however, that (I) the aggregate outstanding principal amount of Indebtedness
incurred by Subsidiaries that are not Loan Parties under this clause (r), together with the aggregate principal amount of Indebtedness incurred by such Subsidiaries pursuant to clause (s) of this Section 6.01, shall not exceed the
greater of $60,000,000 and 1.25% of Adjusted Total Assets, and (II) any Indebtedness incurred pursuant to Section 6.01(r)(i)(x) in the form of term loans that is secured by a Lien on the Collateral that is pari passu in right of
security with the Term B Loans shall be subject to the requirements of Section 2.21(b)(viii); 
 (s) (i) Indebtedness of
Subsidiaries that are not Loan Parties in an aggregate outstanding principal amount, together with the aggregate principal amount of Indebtedness incurred by such Subsidiaries pursuant to clause (r) of this Section 6.01, not to
exceed the greater of $60,000,000 and 1.25% of Adjusted Total Assets and (ii) any Permitted Refinancing Indebtedness in respect thereof; 

(t) Indebtedness incurred in the ordinary course of business in respect of obligations of the Borrower or any Subsidiary to pay the deferred
purchase price of goods or services or progress payments in connection with such goods and services; provided, that such obligations are incurred in connection with open accounts extended by suppliers on customary trade terms in the ordinary
course of business and not in connection with the borrowing of money or any Swap Agreements; 
 (u) Indebtedness representing deferred
compensation to employees, consultants or independent contractors of the Borrower (or, to the extent such work is done for the Borrower or its Subsidiaries, any direct or indirect parent thereof) or any Subsidiary, in each case, incurred in the
ordinary course of business; 
 (v) (i) any Qualified Non-Recourse Debt and/or any Project Financing in an aggregate outstanding principal
amount not to exceed (a) $450,000,000 plus (b) $1,450,000,000 in respect of Qualified Non-Recourse Debt incurred solely to finance the acquisition of the Option Properties (reduced on a dollar for dollar basis for any Indebtedness incurred
to acquire the Option Properties as an Incremental Amount or under Section 6.01(ee)), and (ii) any Permitted Refinancing Indebtedness in respect thereof; 

(w) Indebtedness of the Borrower and the Subsidiaries incurred under lines of credit or overdraft facilities (including, but not limited to,
intraday, ACH and purchasing card/T&E services) extended by one or more financial institutions reasonably acceptable to the Administrative Agent or by one or more of the Lenders or their Affiliates and (in each case) established for any of the
Borrower and its Subsidiaries’ ordinary course of operations (such Indebtedness, the “Overdraft Line”), which Indebtedness may be secured under the Security Documents; 

(x) (i) Indebtedness incurred by, incurred on behalf of, or representing Guarantees of Indebtedness of, joint ventures not in excess, at any
one time outstanding, of $60,000,000, and (ii) any Permitted Refinancing Indebtedness in respect thereof; 

  
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 (y) Indebtedness incurred pursuant to or in connection with the terms of the Lease Agreements and
the Management and Lease Support Agreement, Right of First Refusal Agreement, PropCo Call Right Agreement, or any tax matters or tax sharing agreement, employee matters agreement, transition services agreement or other agreement as contemplated by
the Plan of Reorganization; 
 (z) Series A Preferred Redeeming Subordinated Debt; 

(aa) Indebtedness consisting of Indebtedness issued by the Borrower or any Subsidiary to current or former officers, directors and employees,
their respective estates, spouses or former spouses to finance the purchase or redemption of Equity Interests of the Borrower permitted by Section 6.06; 

(bb) [reserved]; 
 (cc)
[reserved]; 
 (dd) (i) Refinancing Notes and (ii) any Permitted Refinancing Indebtedness incurred in respect thereof; 

(ee) (i) Indebtedness of the Loan Parties that is (A) unsecured, (B) secured by Liens on the Collateral that rank junior to the
Liens on the Collateral securing the Obligations and/or (C) secured by Liens on the Collateral that rank pari passu with the Liens on the Collateral securing the Obligations, in each case of clauses (A), (B) and (C), the aggregate
outstanding principal amount of which does not, at the time of occurrence, exceed the Incremental Amount available at such time and (ii) any Permitted Refinancing Indebtedness incurred to Refinance such Indebtedness; provided that other
than in the case of the First Lien Notes (which shall be subject to the limitations contained in the definition of First Lien Notes), (1) the terms of such Indebtedness do not provide for any scheduled repayment, mandatory redemption or sinking
fund obligations prior to the date that is ninety-one (91) days following the latest Term B Facility Maturity Date in effect on the date of incurrence (other than the customary offers to repurchase upon a change of control, asset sale or event
of loss or similar events and customary acceleration rights after an event of default), (2) the covenant, events of default, guarantees, collateral and other terms of such Indebtedness (other than interest rate and redemption premiums) taken as
a whole, are on market terms; provided that a certificate of Chief Financial Officer of the Borrower delivered to Administrative Agent in good faith at least three Business Days (or such shorter period as the Administrative Agent may
reasonably agree) prior to the incurrence of such indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating that the Borrower have
determined in good faith that such terms and conditions satisfy the foregoing requirement shall be conclusive evidence that such terms and conditions satisfy the foregoing requirement, (3) there shall be no obligor in respect of such
Indebtedness that is not a Loan Party, and (4) Indebtedness incurred pursuant to this clause (ee) that is secured by Liens on the Collateral that rank pari passu with the Liens securing the Obligations shall be subject to the terms of
Section 2.21(b)(viii); 
 (ff) [reserved]; 

  
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 (gg) [reserved]; 

(hh) obligations in respect of Cash Management Agreements; 

(ii) to the extent constituting Indebtedness, agreements to pay service fees to professionals (including architects, engineers and designers)
in furtherance of and/or in connection with any project, in each case to the extent such agreements and related payment provisions are reasonably consistent with commonly accepted industry practices (provided that no such agreements shall
give rise to Indebtedness for borrowed money or Permitted Non-Recourse Guarantees); and 
 (jj) all premium (if any, including tender
premiums), expenses, defeasance costs, interest (including post-petition interest), fees, expenses, charges and additional or contingent interest on obligations described in paragraphs (a) through (ii) above. 

For purposes of determining compliance with this Section 6.01, the amount of any Indebtedness denominated in any currency other
than Dollars shall be calculated based on customary currency exchange rates in effect, in the case of such Indebtedness incurred (in respect of term Indebtedness) or committed (in respect of revolving Indebtedness) on or prior to the Closing Date,
on the Closing Date and, in the case of such Indebtedness incurred (in respect of term Indebtedness) or committed (in respect of revolving Indebtedness) after the Closing Date, on the date that such Indebtedness was incurred (in respect of term
Indebtedness) or committed (in respect of revolving Indebtedness); provided that if such Indebtedness is incurred to refinance other Indebtedness denominated in a currency other than Dollars (or in a different currency from the Indebtedness
being refinanced), and such refinancing would cause the applicable Dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such Dollar-denominated restriction
shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed (i) the outstanding or committed principal amount, as applicable, of such Indebtedness being refinanced plus
(ii) the aggregate amount of fees, underwriting discounts, premiums (including tender premiums), defeasance costs and other costs and expenses incurred in connection with such refinancing. 

For purposes of determining compliance with Section 6.01 and the calculation of the Incremental Amount, if the use of proceeds
from any incurrence, issuance or assumption of Indebtedness is to fund the Refinancing of any Indebtedness, then such Refinancing shall be deemed to have occurred substantially simultaneously with such incurrence, issuance or assumption so long as
(1) such Refinancing occurs on the same Business Day as such incurrence, issuance or assumption, (2) if such proceeds will be offered (through a tender offer or otherwise) to the holders of such Indebtedness to be Refinanced, the proceeds
thereof are deposited with a trustee, agent or other representative for such holders pending the completion of such offer on the same Business Day as such incurrence, issuance or assumption (and such proceeds are ultimately used in the consummation
of such offer or otherwise used to Refinance Indebtedness), (3) if such proceeds will be used to fund the redemption, discharge or defeasance of such Indebtedness to be Refinanced, the proceeds thereof are deposited with a trustee, agent or
other representative for such Indebtedness pending such redemption, discharge or defeasance on the same Business Day as such incurrence, issuance or assumption, or (4) the proceeds thereof are otherwise set aside to fund such Refinancing
pursuant to procedures reasonably agreed with the Administrative Agent. 

  
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 Further, for purposes of determining compliance with this Section 6.01,
(A) Indebtedness need not be permitted solely by reference to one category of permitted Indebtedness described in Sections 6.01(a) through (ii) but may be permitted in part under any combination thereof and (B) in the
event that an item of Indebtedness (or any portion thereof) meets the criteria of one or more of the categories of permitted Indebtedness described in Sections 6.01(a) through (ii), the Borrower shall, in its sole discretion, classify
or reclassify, or later divide, classify or reclassify, such item of Indebtedness (or any portion thereof) in any manner that complies with this Section 6.01 and will only be required to include the amount and type of such item of
Indebtedness (or any portion thereof) in one of the above clauses and such item of Indebtedness (or any portion thereof) shall be treated as having been incurred or existing pursuant to only one of such clauses, provided, that all
Indebtedness under this Agreement outstanding on the Closing Date shall at all times be deemed to have been incurred pursuant to clause (b) of this Section 6.01 and may not be reclassified. In addition, with respect to any
Indebtedness that was permitted to be incurred hereunder on the date of such incurrence, any Increased Amount of such Indebtedness shall also be permitted hereunder after the date of such incurrence. 

Section 6.02 Liens. Create, incur, assume or permit or suffer to exist any Lien on any property or assets (including stock or
other securities of any Person, including any Subsidiary) at the time owned by it, except the following (collectively, “Permitted Liens”): 

(a) Liens on property or assets of the Borrower and the Subsidiaries existing on the Closing Date (or created following the Closing Date
pursuant to agreements in existence on the Closing Date requiring the creation of such Liens) and, to the extent securing Indebtedness in an aggregate principal amount in excess of $5,000,000 individually or $25,000,000 in the aggregate shall only
be permitted under this paragraph (a) to the extent such Lien is set forth on Schedule 6.02(a)), and any modifications, replacements, renewals or extensions thereof; provided, that such Liens shall secure only those obligations
that they secure on the Closing Date (and any Permitted Refinancing Indebtedness in respect of such obligations permitted by Section 6.01(a)) and shall not subsequently apply to any other property or assets of the Borrower or any
Subsidiary other than (A) after-acquired property that is affixed or incorporated into the property covered by such Lien, (B) proceeds and products thereof, and (C) property or equipment being financed or refinanced under
Section 6.01(i), and in the case of multiple financings of equipment provided by any lender, other equipment financed by such lender; 

(b) any Lien created under the Loan Documents (including, without limitation, Liens created under the Security Documents securing obligations
in respect of Secured Swap Agreements, Secured Cash Management Agreements, any First Lien Notes (which are intended to be secured by Liens on the Collateral that are pari passu with Liens on the Collateral securing the Obligations) and the Overdraft
Line secured pursuant to the Security Documents) or permitted in respect of any Mortgaged Property by the terms of the applicable Mortgage; provided that in the case of any First Lien Notes, (A) the holders of such Indebtedness (or a
representative thereof on behalf of such holders) shall have delivered to the Collateral Agent an Other First Lien Secured Party Consent (as defined in the Collateral Agreement) and (B) the Borrower shall have complied with the other
requirements of Section 7.23 of the Collateral Agreement with respect to such First Lien Notes; 

  
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 (c) any Lien on any property or asset of the Borrower or any Subsidiary securing Indebtedness or
Permitted Refinancing Indebtedness permitted by Section 6.01(h); provided further, that such Lien (i) does not apply to any other property or assets of the Borrower or any of the Subsidiaries not securing such Indebtedness at
the date of the acquisition of such property or asset and accessions and additions thereto and proceeds and products thereof (other than after acquired property required to be subjected to a Lien pursuant to the terms of such Indebtedness (and
refinancings thereof) and other obligations incurred prior to such date and which Indebtedness and other obligations are permitted hereunder and require a pledge of after acquired property and in the case of multiple financings of equipment provided
by any lender, other equipment financed by such lender, it being understood that such requirement to pledge shall not be permitted to apply to any property to which such requirement would not have applied but for such acquisition) and (ii) such
Lien must rank junior in right of security to the Liens securing the Obligations or otherwise be secured by Liens on Excluded Collateral; 

(d) Liens for Taxes, assessments or other governmental charges or levies not required to be paid pursuant to Section 5.03; 

(e) Liens imposed by law, including landlord’s, carriers’, warehousemen’s, mechanics’, materialmen’s,
repairmen’s, supplier’s, construction or other like Liens, securing obligations that are not overdue by more than 45 days or that are being contested in good faith by appropriate proceedings and in respect of which, if applicable, the
Borrower or any Subsidiary shall have set aside on its books reserves in accordance with GAAP, or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other
proceedings for review; 
 (f) (i) pledges and deposits and other Liens made in the ordinary course of business in compliance with the
Federal Employers Liability Act or any other workers’ compensation, unemployment insurance and other social security laws or regulations and deposits securing liability to insurance carriers under insurance or self-insurance arrangements in
respect of such obligations and (ii) pledges and deposits and other Liens securing liability for reimbursement or indemnification obligations of (including obligations in respect of letters of credit or bank guarantees for the benefit of)
insurance carriers providing property, casualty or liability insurance to the Borrower or any Subsidiary; 
 (g) deposits and other Liens to
secure the performance of bids, trade contracts (other than for Indebtedness), leases (other than Capitalized Lease Obligations), statutory obligations, surety and appeal bonds, performance and return of money bonds, bids, leases, government
contracts, trade contracts, agreements with utilities, and other obligations of a like nature (including letters of credit in lieu of any such bonds or to support the issuance thereof) incurred in the ordinary course of business, including those
incurred to secure health, safety and environmental obligations in the ordinary course of business; 

  
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 (h) zoning restrictions, survey exceptions and such matters as an accurate survey would disclose,
easements, trackage rights, leases (other than Capitalized Lease Obligations), licenses, special assessments, rights-of-way, covenants, conditions, restrictions and declarations on or with respect to the use of Real Property, servicing agreements,
development agreements, site plan agreements and other similar encumbrances incurred in the ordinary course of business and title defects or irregularities that are of a minor nature and that, in the aggregate, do not interfere in any material
respect with the ordinary conduct of the business of the Borrower or any Subsidiary; 
 (i) Liens securing Indebtedness and Permitted
Refinancing Indebtedness permitted by Sections 6.01(i) and 6.01(v) (in each case limited to the assets financed with such Indebtedness (or the Indebtedness Refinanced thereby) and any accessions and additions thereto and the proceeds
and products thereof and customary security deposits and related property; provided that individual financings provided by one lender may be cross-collateralized to other financings provided by such lender and incurred under Sections
6.01(i) or (v)); 
 (j) Liens arising out of capitalized lease transactions permitted under Section 6.03, so long as
such Liens attach only to the property sold and being leased in such transaction and any accessions and additions thereto or proceeds and products thereof and related property and in the case of multiple financings of equipment provided by any
lender, other equipment financed by such lender; 
 (k) Liens securing judgments that do not constitute an Event of Default under
Section 7.01(j) and notices of lis pendens and associated rights related to litigation being contested in good faith by appropriate proceedings and for which adequate reserves have been made; 

(l) Liens disclosed by the title insurance policies delivered on or subsequent to the Closing Date and pursuant to Section 5.10
and any replacement, extension or renewal of any such Lien; provided, that such replacement, extension or renewal Lien shall not cover any property other than the property that was subject to such Lien prior to such replacement, extension or
renewal; provided, further, that the Indebtedness and other obligations secured by such replacement, extension or renewal Lien are permitted by this Agreement; 

(m) any interest or title of a lessor or sublessor under any leases or subleases entered into by the Borrower or any Subsidiary in the
ordinary course of business; 
 (n) Liens that are contractual rights of set-off (i) relating to the establishment of depository
relations with banks and other financial institutions incurred in the ordinary course of business and not given in connection with the issuance of Indebtedness, (ii) relating to pooled deposits, sweep accounts, reserve accounts or similar
accounts of the Borrower or any Subsidiary to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Borrower or any Subsidiary, including with respect to credit card chargebacks and similar
obligations, or (iii) relating to purchase orders and other agreements entered into with customers, suppliers or service providers of the Borrower or any Subsidiary in the ordinary course of business; 

(o) Liens (i) arising by virtue of any statutory or common law provision relating to banker’s Liens, rights of set-off or similar
rights, (ii) attaching to commodity trading accounts or other commodity brokerage accounts incurred in the ordinary course of business, or (iii) encumbering reasonable customary initial deposits and margin deposits and similar Liens
attaching to brokerage accounts incurred in the ordinary course of business and not for speculative purposes; 

  
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 (p) Liens securing obligations in respect of trade-related letters of credit, bank guarantees or
similar obligations permitted under Sections 6.01(f) or (o) and covering the property (or the documents of title in respect of such property) financed by such letters of credit, bank guarantees or similar obligations and the
proceeds and products thereof; 
 (q) leases or subleases, licenses or sublicenses (including with respect to intellectual property and
software) granted to others in the ordinary course of business not interfering in any material respect with the business of the Borrower and the Subsidiaries, taken as a whole; 

(r) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the
importation of goods; 
 (s) Liens solely on any cash earnest money deposits made by the Borrower or any of the Subsidiaries in connection
with any letter of intent or purchase agreement in respect of any Investment permitted hereunder; 
 (t) Liens with respect to property or
assets of any Subsidiary that is not a Loan Party securing Indebtedness and obligations of a Subsidiary that is not a Loan Party permitted under Section 6.01; 

(u) Liens on the Collateral securing Indebtedness permitted to be incurred under Sections 6.01(r)(i)(x) and 6.01(r)(i)(y);
provided that (x) any such Liens securing Indebtedness incurred under Section 6.01(r)(i)(x) shall be subject to a Permitted Pari Passu Intercreditor Agreement, and (y) any such Liens securing Indebtedness incurred under
Section 6.01(r)(i)(y) shall be subject to a Permitted Junior Intercreditor Agreement; 
 (v) Liens on any amounts held by a
trustee under any indenture or other debt agreement issued in escrow pursuant to customary escrow arrangements pending the release thereof, or under any indenture or other debt agreement pursuant to customary discharge, redemption or defeasance
provisions; 
 (w) the prior rights of consignees and their lenders under consignment arrangements entered into in the ordinary course of
business; 
 (x) Liens on the Equity Interests of Unrestricted Subsidiaries; 

(y) Liens arising from precautionary Uniform Commercial Code financing statements or consignments entered into in connection with any
transaction otherwise permitted under this Agreement; 
 (z) Liens on Equity Interests in joint ventures (i) securing obligations of
such joint ventures or (ii) pursuant to the relevant joint venture agreement or arrangement or similar agreement; 

  
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 (aa) Liens on securities that are the subject of repurchase agreements constituting Permitted
Investments under clause (c) of the definition thereof; 
 (bb) Liens on the Equity Interests issued by any such joint venture or its
assets, in each case, securing Indebtedness or other obligations permitted under Section 6.01(x); 
 (cc) Liens on goods or
inventory the purchase, shipment or storage price of which is financed by a documentary letter of credit, bank guarantee or bankers’ acceptance issued or created for the account of the Borrower or any Subsidiary in the ordinary course of
business; provided that such Lien secures only the obligations of the Borrower or such Subsidiaries in respect of such letter of credit, bank guarantee or banker’s acceptance to the extent permitted under Section 6.01; 

(dd) in the case of Real Property that constitutes a leasehold interest, any Lien to which the fee simple interest (or any superior leasehold
interest) is subject; 
 (ee) Liens securing Indebtedness or other obligations (i) of the Borrower or a Subsidiary in favor of the
Borrower or any Loan Party and (ii) of any Subsidiary that is not Loan Party in favor of any Subsidiary that is not a Loan Party; 

(ff) Liens securing insurance premiums financing arrangements, provided, that such Liens are limited to the applicable unearned
insurance premiums and proceeds thereof; 
 (gg) Liens securing Swap Agreements that were not entered into for speculative purposes; 

(hh) other Liens with respect to property or assets of the Borrower or any Subsidiary securing obligations in an aggregate principal amount
outstanding at any time not to exceed the greater of $35,000,000 and 0.75% of Adjusted Total Assets; provided that, to the extent that such Liens secure debt for borrowed money, such Liens on the Collateral must rank junior in right of security to
the Liens on such Collateral securing the Obligations and be subject to the Permitted Junior Intercreditor Agreement or other intercreditor agreement reasonably acceptable to the Administrative Agent; 

(ii) any amounts held by a trustee in the funds and accounts under an indenture securing any revenue bonds issued for the benefit of the
Borrower or any Subsidiary; 
 (jj) Liens securing (x) First Lien Notes, provided that if the Liens on the Collateral securing
such First Lien Notes are (or are intended to be) junior in priority to the Liens on the Collateral securing the Obligations, such Liens shall be subject to a Permitted Junior Intercreditor Agreement and (y) Indebtedness permitted by
Sections 6.01(dd) and (ee); provided that, (i) if such Liens are (or are intended to be) secured by Liens on the Collateral that are pari passu with the Liens securing the Loan Obligations, such Liens shall be subject to a
Permitted Pari Passu Intercreditor Agreement and (ii) if such Liens are (or are intended to be) secured by Liens on the Collateral that are junior in priority to the Liens securing the Loan Obligations, such Liens shall be subject to a
Permitted Junior Intercreditor Agreement; 

  
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 (kk) Liens securing obligations owing to such Persons under any treasury, depository, overdraft
or other cash management services agreements or arrangements with the Borrower or any of its Subsidiaries; 
 (ll) Liens securing
(i) Indebtedness permitted by Section 6.01(l)(i)(y) and (ii) Permitted Refinancing Indebtedness in respect thereof; provided, in each case of clauses (i) and (ii), such Liens shall be subject to a Permitted Junior
Intercreditor Agreement; 
 (mm) the Venue Easements and any other easements, covenants, rights of way or similar instruments which do not
materially impact a project in an adverse manner granted in connection with arrangements contemplated under Section 6.05(p); 

(nn) with respect to any Vessel, Permitted Vessel Liens; 

(oo) the filing of a reversion, subdivision or final map(s), record(s) of survey and/or amendments to any of the foregoing over Real Property
held by the Loan Parties or any of their Subsidiaries designed (A) to merge one or more of the separate parcels thereof together so long as (i) the entirety of each such parcel shall be owned by Loan Parties or any of their Subsidiaries,
(ii) no portion of the Mortgaged Property is merged with any Real Property that is not part of the Mortgaged Property, and (iii) the gross acreage and footprint of the Mortgaged Property remains unaffected in any material respect or
(B) to separate one or more of the parcels thereof together so long as (i) the entirety of each resulting parcel shall be owned by Loan Parties or any of their Subsidiaries, (ii) no portion of the Mortgaged Property ceases to be
subject to a Mortgage, and (iii) the gross acreage and footprint of the Mortgaged Property remains unaffected in any material respect; 

(pp) any encumbrance or restriction in any agreement related to the development or financing of a Project, Secured Swap Agreement, Secured
Cash Management Agreement, or under Permitted Non-Recourse Guarantees, but only to the extent that such encumbrance or restriction relates and is limited to the property that is subject of the agreement (and proceeds thereof) and, in the case of
Permitted Non-Recourse Guarantees, is not a security interest therein; 
 (qq) Liens to secure any refinancing, refunding, extension,
renewal or replacement (or successive refinancings, refundings, extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien permitted by the foregoing clauses; provided, however, that
(x) such new Lien shall be limited to all or part of the same type of property that secured the original Lien (plus improvements on and accessions to such property, proceeds and products thereof, customary security deposits and any other assets
pursuant to after-acquired property clauses and, in the case of multiple financings of equipment provided by any lender, other equipment financed by such lender, to the extent such assets secured (or would have secured) the Indebtedness being
Refinanced), (y) the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (A) the outstanding principal amount (or accreted value, if applicable) of such Indebtedness or, if greater,
committed amount of the applicable Indebtedness at the time the original Lien became a Lien permitted hereunder and (B) any unpaid accrued interest and premium (including tender premiums) thereon and an amount necessary to pay associated
underwriting discounts, defeasance costs, fees, commissions and expenses related to such refinancing, refunding, extension, renewal or replacement, and (z) Indebtedness secured by Liens ranking junior to the Liens securing the Obligations may
not be refinanced pursuant to this clause (qq) with Liens ranking pari passu or senior to the Liens securing the Obligations; 

  
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 (rr) Liens securing Indebtedness permitted to be incurred pursuant to Sections 6.01(z) so
long as such Liens rank junior to the Liens on the Collateral securing the Obligations pursuant to the terms of the Permitted Junior Intercreditor Agreement or other intercreditor agreement reasonably acceptable to the Administrative Agent; 

(ss) any Lien arising (i) pursuant to or in connection with the terms of the Lease Agreements or the Management and Lease Support
Agreement, (ii) in connection with the Transactions, or (iii) pursuant to any tax matters or tax sharing agreement, employee matters agreement, transition services agreement or other agreement as contemplated by the Plan of Reorganization;
and 
 (tt) from and after the lease or sublease of any interest pursuant to Sections 6.05(i) or (p) or otherwise entered
into in connection with the Transactions, any reciprocal easement agreement entered into between the Borrower or any of its Subsidiaries and the holder of such interest, which in each case would not individually or in the aggregate reasonably be
expected to interfere in any material respect with, or materially impair or detract from, the use or operation (or intended use or operations) of a project. 

For purposes of determining compliance with this Section 6.02, (A) a Lien securing an item of Indebtedness need not be
permitted solely by reference to one category of permitted Liens described in Sections 6.02(a) through (rr) but may be permitted in part under any combination thereof and (B) in the event that a Lien securing an item of
Indebtedness (or any portion thereof) meets the criteria of one or more of the categories of permitted Liens described in Sections 6.02(a) through (qq), the Borrower shall, in its sole discretion, classify or reclassify, or later
divide, classify or reclassify, such Lien securing such item of Indebtedness (or any portion thereof) in any manner that complies with this covenant and will only be required to include the amount and type of such Lien or such item of Indebtedness
(or any portion thereof) secured by such Lien in one of the above clauses and such Lien securing such item of Indebtedness (or any portion thereof) will be treated as being incurred or existing pursuant to only one of such clauses. In addition, with
respect to any Lien securing Indebtedness that was permitted to secure such Indebtedness at the time of the incurrence of such Indebtedness, such Lien shall also be permitted to secure any Increased Amount of such Indebtedness. 

Section 6.03 Sale and Lease-Back Transactions. Enter into any arrangement, directly or indirectly, with any Person whereby it
shall sell or transfer any property, real or personal, whether now owned or hereafter acquired, and immediately thereafter rent or lease such property from such Person that it intends to use for substantially the same purpose or purposes as the
property being sold or transferred (a “Sale and Lease-Back Transaction”), except: 
 (a) any Sale and Lease-Back Transaction
is deemed to have occurred solely as a result of a failed sale under GAAP; 

  
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 (b) Sale and Lease-Back Transactions by any Subsidiary that is not a Loan Party, provided
that the Fair Market Value of the assets and property subject to such Sale and Lease-Back Transactions shall not exceed $50,000,000 in the aggregate since the Closing Date; and 

(c) Sale and Leaseback Transactions of any Excluded Property. 

Section 6.04 Investments, Loans and Advances. Purchase, hold or acquire (including pursuant to any merger, consolidation or
amalgamation with another Person) any Equity Interests, evidences of Indebtedness or other securities of, make or permit to exist any loans or advances to or Guarantees of Indebtedness of or a Permitted Non-Recourse Guarantee of or in respect of, or
make or permit to exist any investment in (each, an “Investment”), any other Person, except: 
 (a) the Transactions; 

(b) (i) Investments between and among the Loan Parties and (ii) Investments by any Loan Party in any Subsidiary that is not a Loan Party;
provided, that Investments made after the Closing Date by any Loan Party in Subsidiaries that are not Loan Parties shall not exceed in the aggregate at any time, together with all Investments in Subsidiaries that are not Loan Parties
outstanding pursuant to Sections 6.04(k), the greater of $100,000,000 and 2.33% of Adjusted Total Assets; 
 (c) Permitted
Investments and Investments that were Permitted Investments when made; 
 (d) Investments arising out of the receipt by the Borrower or any
Subsidiary of noncash consideration for the sale of assets permitted under Section 6.05 (other than Section 6.05(e)); 

(e) loans and advances to officers, directors, employees or consultants of the Borrower or any Subsidiary (i) in the ordinary course of
business not to exceed $6,000,000 in the aggregate at any time outstanding (calculated without regard to write downs or write offs thereof), (ii) in respect of payroll payments and expenses in the ordinary course of business, and (iii) in
connection with such Person’s purchase of Equity Interests of the Borrower (or its direct or indirect parent) solely to the extent that the amount of such loans and advances shall be contributed to the Borrower in cash as common equity; 

(f) accounts receivable, security deposits and prepayments arising and trade credit granted in the ordinary course of business and any assets
or securities received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent reasonably necessary in order to prevent or limit loss and any prepayments and other credits to suppliers made in the
ordinary course of business; 
 (g) Swap Agreements that are not entered into for speculative purposes; 

(h) Investments existing on, or contractually committed as of, the Closing Date or as set forth on Schedule 6.04 and any extensions,
renewals or reinvestments thereof, so long as the aggregate amount of all Investments pursuant to this clause (h) is not increased at any time above the amount of such Investment existing or committed on the Closing Date (other than pursuant to
an increase as required by the terms of any such Investment as in existence on the Closing Date or otherwise permitted); 

  
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 (i) Investments resulting from any Permitted Liens; 

(j) other Investments by the Borrower or any Subsidiary in an aggregate amount (valued at the time of the making thereof, and without giving
effect to any write-downs or write-offs thereof) not to exceed the portion, if any, of the Cumulative Credit on the date of such election that the Borrower elects to apply to this Section 6.04(j); provided that if any Investment
pursuant to this clause (j) is made in any Person that is not a Subsidiary of the Borrower at the date of the making of such Investment and such Person becomes a Subsidiary of the Borrower after such date, such Investment shall, upon the
election of the Borrower, thereafter be deemed to have been made pursuant to clause (b) above (to the extent permitted to be made thereunder) and shall cease to have been made pursuant to this clause (j) for so long as such Person
continues to be a Subsidiary of the Borrower; 
 (k) Investments constituting Permitted Business Acquisitions; 

(l) [reserved]; 
 (m)
Investments received in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with or judgments against, customers and suppliers, in each case in the ordinary course of business or Investments
acquired by the Borrower as a result of a foreclosure by the Borrower or any of the Subsidiaries with respect to any secured Investments or other transfer of title with respect to any secured Investment in default; 

(n) Investments of a Subsidiary acquired after the Closing Date or of an entity merged into the Borrower or merged into or consolidated with a
Subsidiary after the Closing Date, in each case, (i) to the extent such acquisition, merger or consolidation was or is permitted under this Section 6.04 and Section 6.05 (other than Section 6.05(e)), and
(ii) to the extent that such Investments were not made in contemplation of or in connection with such acquisition, merger, consolidation or amalgamation and were in existence on the date of such acquisition, merger, consolidation or
amalgamation; 
 (o) [reserved]; 

(p) Guarantees by the Borrower or any Subsidiary of operating leases (other than Capitalized Lease Obligations) or of other obligations that
do not constitute Indebtedness (other than Permitted Non-Recourse Guarantees), in each case entered into by the Borrower or any Subsidiary in the ordinary course of business; 

(q) Investments to the extent that payment for such Investments is made with Qualified Equity Interests or proceeds of Qualified Equity
Interests of the Borrower (or any Parent Entity); 

  
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 (r) additional Investments in an amount not to exceed the greater of $100,000,000 and 2.33% of
Adjusted Total Assets (plus any returns of capital (including dividends, interest, distributions, returns of principal, profits on sale, repayments, income and similar amounts) actually received by the respective investor in respect of
investments theretofore made by it pursuant to this clause (r)); 
 (s) [reserved]; 

(t) Investments consisting of Restricted Payments permitted by Section 6.06; 

(u) Investments in the ordinary course of business consisting of Uniform Commercial Code Article 3 endorsements for collection or deposit and
Uniform Commercial Code Article 4 customary trade arrangements with customers consistent with past practices; 
 (v) [reserved]; 

(w) Guarantees (other than Permitted Non-Recourse Guarantees) permitted under Section 6.01 (except to the extent such Guarantee is
expressly subject to Section 6.04); 
 (x) advances in the form of a prepayment of expenses, so long as such expenses are being
paid in accordance with customary trade terms of the Borrower or any Subsidiary; 
 (y) Investments by the Borrower and its Subsidiaries,
including loans and advances to any direct or indirect parent of the Borrower, if the Borrower or any other Subsidiary would otherwise be permitted to make a Restricted Payment in such amount (provided that the amount of any such Investment
shall also be deemed to be a Restricted Payment under the appropriate paragraph of Section 6.06 for all purposes of this Agreement); 

(z) (i) Investments in tenants and property managers (A) in an aggregate amount not to exceed the greater of (x) $45,000,000 and
(y) 1.00% of Adjusted Total Assets as of the end of the fiscal quarter immediately prior to the date of such Investment or (B) constituting advances to fund the alteration, improvement, exchange, replacement, modification or expansion of
leased improvements or fixtures required to be made pursuant to the Master Lease or comparable or similar lease and (ii) Investments in joint ventures established to develop or operate properties or facilities within a Project not to exceed at
any one time in the aggregate outstanding under this clause (z) the greater of (x) $45,000,000 and (y) 1.00% of Adjusted Total Assets as of the end of the fiscal quarter immediately prior to the date of such Investment; 

(aa) Investments consisting of the licensing or contribution of intellectual property pursuant to joint marketing or other arrangements with
other Persons; 
 (bb) Investments consisting of or to finance purchases and acquisitions of inventory, supplies, materials, services or
equipment or purchases of contract rights or purchases, sales, licenses or sublicenses (including in respect of gaming licenses) or leases of intellectual property; 

(cc) Permitted Mortgage Investments; 

  
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 (dd) Investments consisting of the ownership interest in, or the transfer of (whether by a
contribution or otherwise) some or all of the Undeveloped Land to a Development Unrestricted Subsidiary or joint venture formed for the purpose of developing such Undeveloped Land; 

(ee) any Investment (i) made pursuant to or in connection with the Lease Agreements or the Management and Lease Support Agreement,
(ii) in connection with the Transactions or (iii) made pursuant to any tax matters or tax sharing agreement, employee matters agreement, transition services agreement or other agreement as contemplated by the Plan of Reorganization; 

(ff) Investments in joint ventures and Unrestricted Subsidiaries (and in the case of Permitted Non-Recourse Guarantees, operators) not in
excess of (x) the greater of $75,000,000 and 1.50% of Adjusted Total Assets plus (y) an aggregate amount equal to any returns (including dividends, interest, distributions, returns of principal, profits on sale, repayments, income
and similar amounts) actually received by the respective investor in respect of investments theretofore made by it pursuant to this clause (ff); provided that if any Investment pursuant to this clause (ff) is made in any Person that is not a
Subsidiary of the Borrower at the date of the making of such Investment and such Person becomes a Subsidiary of the Borrower after such date, such Investment shall, upon the election of the Borrower, thereafter be deemed to have been made pursuant
to paragraph (b) above and shall cease to have been made pursuant to this clause (ff) for so long as such Person continues to be a Subsidiary of the Borrower; 

(gg) Investments that are made with Excluded Contributions; and 

(hh) any Investment (i) deemed to exist as a result of a Subsidiary that is not a Loan Party distributing a note or other intercompany
debt to a parent of such Subsidiary that is a Loan Party (to the extent there is no cash consideration or services rendered for such note), (ii) consisting of intercompany current liabilities in connection with the cash management, tax and
accounting operations of the Borrower and the Subsidiaries, and (iii) consisting of intercompany loans, advances or Indebtedness having a term not exceeding 364 days (inclusive of any roll-overs or extensions of terms) and made in the ordinary
course of business. 
 provided, however, that the Borrower shall not, and shall not permit any of its Subsidiaries to, make Investments in
Unrestricted Subsidiaries, other than (A) pursuant to Section 6.04(a), (q), (dd), (ff) and (gg) and (B) Permitted Non-Recourse Guarantees that are permitted by Sections 6.04(a) through
(hh) (to the extent not prohibited by such clause). 
 Any Investment in any Person other than a Loan Party that is otherwise
permitted by this Section 6.04 may be made through intermediate Investments in Subsidiaries that are not Loan Parties (provided such Investment is promptly made by such intermediate Subsidiary in or to the relevant Loan Party) and such
intermediate Investments shall be disregarded for purposes of determining the outstanding amount of Investments pursuant to any clause set forth above. The amount of any Investment made other than in the form of cash or Permitted Investments shall
be the Fair Market Value thereof (as determined by an Officer of the Borrower in good faith) valued at the time of the making thereof, and without giving effect to any subsequent write-downs or write-offs thereof. 

  
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 For purposes of determining compliance with this Section 6.04, (A) Investments
need not be permitted solely by reference to one category of permitted Investments described in Sections 6.04(a) through (hh) but may be permitted in part under any combination thereof, (B) in the event that an Investment (or any
portion thereof) meets the criteria of one or more of the categories of permitted Investments described in Sections 6.04(a) through (hh), the Borrower shall, in its sole discretion, classify or reclassify, or later divide, classify or
reclassify, such Investment (or any portion thereof) in any manner that complies with this Section 6.04 and will only be required to include the amount and type of such Investment (or any portion thereof) in one of the above clauses and
such Investment (or any portion thereof) shall be treated as having been incurred or existing pursuant to only one of such clauses and (C) the amount of any Investment outstanding at any time shall be the original cost of such Investment
reduced by any dividends, distributions, interest, fees, premium, return of capital, repayment of principal, income, profits (from a disposition or otherwise) and other amounts received or realized in respect of such Investment (provided that, with
respect to amounts received other than in the form of cash or Permitted Investments, such amount shall be equal to the Fair Market Value of such consideration). 

Section 6.05 Mergers, Consolidations and Sales of Assets. Merge into, or consolidate or amalgamate with any other Person, or
permit any other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of related transactions) all or any part of its assets (whether now owned or hereafter acquired), or
issue, sell, transfer or otherwise dispose of any Equity Interests of any Subsidiary, except that this Section shall not prohibit: 
 (a) a
disposition of Permitted Investments or dispositions of obsolete, damaged, uneconomic, surplus or worn out property, equipment or other assets or property, equipment or other assets that are no longer economically practical or commercially desirable
to maintain; 
 (b) if, at the time thereof and immediately after giving effect thereto, no Event of Default shall have occurred and be
continuing or would result therefrom, (i) the merger, consolidation or amalgamation of any Subsidiary into or with the Borrower in a transaction in which the Borrower is the survivor, (ii) the merger, consolidation or amalgamation of any
Subsidiary into or with any Loan Party in a transaction in which the surviving or resulting entity is a Loan Party, (iii) the merger, consolidation or amalgamation of any Subsidiary that is not a Loan Party into or with any other Subsidiary
that is not a Loan Party, (iv) the liquidation or dissolution or change in form of entity of any Subsidiary if the Borrower determines in good faith that such liquidation, dissolution or change in form is in the best interests of the Borrower
or the Subsidiaries and is not materially disadvantageous to the Lenders, or (v) any Subsidiary may merge, consolidate or amalgamate into or with any other Person in order to effect an Investment permitted pursuant to Section 6.04
so long as the continuing or surviving Person shall be a Subsidiary, which shall be a Loan Party if the merging, consolidating or amalgamating Subsidiary was a Loan Party and which together with each of its Subsidiaries shall have complied with the
requirements of Section 5.10; 
 (c) [reserved]; 

(d) Sale and Lease-Back Transactions permitted by Section 6.03; 

  
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 (e) Investments permitted by Section 6.04 (including any merger, consolidation or
amalgamation in order to effect an Investment), Permitted Liens, and Restricted Payments permitted by Section 6.06; 
 (f) the
sale of defaulted receivables in the ordinary course of business and not as part of an accounts receivables financing transaction; 
 (g)
sales, transfers, leases, licenses or other dispositions of assets not otherwise permitted by this Section 6.05; provided, that (i) no Event of Default exists or would result therefrom, (ii) the Net Proceeds thereof are
applied in accordance with Section 2.11(b), (iii) such sale, transfer or other disposition of assets shall be for Fair Market Value or, to the extent not for Fair Market Value, the difference between Fair Market Value and the sale
price shall constitute an Investment subject to Section 6.04, and shall be permitted only to the extent that such Investment is permitted pursuant to Section 6.04(b)(ii), 6.04(j), 6.04(r), or 6.04(ff) and
(iv) no such sale, transfer or other disposition of assets in excess of $20,000,000 shall be permitted unless such disposition is for at least 75% cash consideration; provided, that for purposes of this subclause (g)(iv), each of the
following shall be deemed to be cash: (A) the amount of any liabilities (as shown on the Borrower’s or any Subsidiary’s most recent balance sheet or in the notes thereto) of the Borrower or any Subsidiary of the Borrower (other than
liabilities that are by their terms subordinated to the Obligations) that are assumed by the transferee of any such assets (and as to which the Borrower or such Subsidiary has been released from liability therefor) or are otherwise cancelled in
connection with such transaction; (B) any notes or other obligations or other securities or assets received by the Borrower or such Subsidiary of the Borrower from such transferee that are converted by the Borrower or such Subsidiary of the
Borrower into cash within 180 days of the receipt thereof (to the extent of the cash received); (C) any Designated Non-Cash Consideration received by the Borrower or any of its Subsidiaries in such Asset Sale having an aggregate Fair Market
Value, taken together with all other Designated Non-Cash Consideration received pursuant to this subclause (g)(v)(C) that is at that time outstanding, not to exceed the greater of 2.33% of Adjusted Total Assets and $100,000,000 (with the Fair Market
Value of each item of Designated Non-Cash Consideration being measured at the time received and without giving effect to subsequent changes in value); and (D) with respect to any lease of assets by the Borrower or a Subsidiary that constitutes
a disposition, receipt of lease payments over time on market terms (as determined in good faith by the Borrower) where the payment consideration is at least 75% cash consideration; 

(h) sales, transfers, leases or other dispositions contemplated by, pursuant to, or in connection with the Lease Agreements, the Management
and Lease Support Agreement, or any tax matters or tax sharing agreement, employee matters agreement, transition services agreement or other agreement as contemplated by the Plan of Reorganization; 

(i) leases, licenses, or subleases or sublicenses of any real or personal property in the ordinary course of business or leases, licenses,
subleases or sublicenses of any Real Estate Assets; 
 (j) sales, leases or other dispositions of inventory in the ordinary course of
business or sales, licenses, sublicenses or other dispositions of Intellectual Property Rights of the Borrower or any of its Subsidiaries, or the lapse, expiration, or abandonment of Intellectual Property Rights of the Borrower or any of its
Subsidiaries determined by the management of the Borrower or any of its Subsidiaries to be no longer useful or necessary in the operation of the business of the Borrower or any of the Subsidiaries; 

  
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 (k) acquisitions and purchases made with the proceeds of any Asset Sale pursuant to the first
proviso of paragraph (a) of the definition of “Net Proceeds”; 
 (l) the sale or exchange of specific items of
property, so long as the purpose of each such sale or exchange is to acquire (and results within 365 days of such sale or exchange in the acquisition of) replacement items of property that are the functional equivalent of the item of property so
sold or exchanged; 
 (m) (i) any exchange of assets (including a combination of assets and cash equivalents), made in the ordinary course
of business, for other assets of comparable or greater market value or usefulness to the business of the Borrower and its Subsidiaries as a whole, as determined in good faith by a Responsible Officer of the Borrower and, to the extent allowable
under Section 1031 of the Code, or any comparable or successor provision, any exchange of like property for use in a similar business; 

(n) any disposition, merger, consolidation or amalgamation in connection with the Transactions; 

(o) in each case in the ordinary course of business, any swap of assets, or lease, assignment or sublease of any real or personal property, in
exchange for services (including in connection with any outsourcing arrangements) or comparable or greater value or usefulness to the business of the Borrower and its Subsidiaries as a whole, as determined in good faith by the Borrower; 

(p) (i) the lease, sublease or license of any portion of any project to persons who, either directly or through Affiliates of such persons,
intend to operate or manage nightclubs, bars, restaurants, recreation areas, spas, pools, exercise or gym facilities, or entertainment or retail venues or similar or related establishments or facilities within such project and (ii) the grant of
declarations of covenants, conditions and restrictions and/or easements with respect to common area spaces and similar instruments benefiting such tenants of such leases, subleases and licenses generally and/or entered into connection with a project
(collectively, the “Venue Easements,” and together with any such leases, subleases or licenses, collectively the “Venue Documents”); provided that (A) no Event of Default shall exist and be continuing at
the time any such Venue Document is entered into or would occur as a result of entering into such Venue Document, (B) the Loan Parties shall be required to maintain control (which may be through required contractual standards) over the primary
aesthetics and standards of service and quality of the business being operated or conducted in connection with any such leased, subleased or licensed space, and (C) no Venue Document or operations conducted pursuant thereto would reasonably be
expected to materially interfere with, or materially impair or detract from, the operations of the Borrower and its Subsidiaries; provided further that upon the reasonable request by the Borrower, the Collateral Agent on behalf of the
Secured Parties shall provide the tenant, subtenant or licensee under any Venue Document with a subordination, non-disturbance and attornment agreement substantially in the form of Exhibit L hereto, as applicable, or in such other form as is
reasonably satisfactory to the Collateral Agent and the applicable Loan Party; 

  
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 (q) the dedication of space or other dispositions of property in connection with and in
furtherance of constructing structures or improvements reasonably related to the development, construction and operation of any project; provided that in each case such dedication or other dispositions are in furtherance of, and do not
materially impair or interfere with the operations of the Borrower and its Subsidiaries; 
 (r) dedications of, or the granting of
easements, rights of way, rights of access and/or similar rights, to any Governmental Authority, utility providers, cable or other communication providers and/or other parties providing services or benefits to any project, any Real Property held by
the Borrower or any Subsidiaries, the Loan Parties or the public at large that would not reasonably be expected to interfere in any material respect with the operations of the Borrower and the Subsidiaries; 

(s) any disposition of Equity Interests of a Subsidiary pursuant to an agreement or other obligation with or to a Person (other than the
Borrower and the Subsidiaries) from whom such Subsidiary was acquired or from whom such Subsidiary acquired its business and assets (having been newly formed in connection with such acquisition), made as part of such acquisition and in each case
comprising all or a portion of the consideration in respect of such sale or acquisition; 
 (t) any dispositions for at least Fair Market
Value of non-core assets acquired in connection with any Permitted Business Acquisition or Investment permitted hereunder; 
 (u)
[reserved]; 
 (v) any issuance or sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary; 

(w) dispositions for at least Fair Market Value of any property the disposition of which is necessary for any Parent Entity to qualify, or
maintain its qualification, as a REIT, in each case, in Borrower’s good faith determination; 
 (x) dispositions in connection with
foreclosures and other exercises of remedies in respect of Liens not prohibited by this Agreement; 
 (y) dispositions of receivables in
connection with the compromise, settlement or collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive of factoring or similar arrangements; 

(z) any surrender or waiver of contract rights or the settlement, release, recovery on or surrender of contract, tort, or other claims of any
kind; 
 (aa) any disposition of assets of the Borrower or any Subsidiary or issuance or sale of Equity Interests of any Subsidiary, in each
case whether in a single transaction or a series of related transactions, which assets or Equity Interests so disposed of or issued have an aggregate Fair Market Value (as determined in good faith by the Borrower) of less than $15,000,000; and 

  
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 (bb) any disposition of property or assets, or the issuance of securities, by a Subsidiary or the
Borrower to another Subsidiary or the Borrower, provided that any disposition made by a Loan Party to a non-Loan Party shall be permitted only to the extent permitted as an Investment pursuant to Section 6.04. 

To the extent any Collateral is sold or disposed of in a transaction expressly permitted by this Section 6.05 to any Person other than the
Borrower or any Subsidiary Loan Party, such Collateral shall be sold or disposed of free and clear of the Liens created by the Loan Documents (provided that, for the avoidance of doubt, with respect to any disposal consisting of an operating
lease or license, the underlying property retained by the Borrower or such Subsidiary Loan Party will not be so released), and the Administrative Agent shall take, and is hereby authorized by each Lender to take, any actions reasonably requested by
the Borrower in order to evidence the foregoing. 
 Section 6.06 Restricted Payments. Declare or pay any dividend or make any
other distribution (by reduction of capital or otherwise), whether in cash, property, securities or a combination thereof, with respect to any of its Equity Interests (other than dividends and distributions on Equity Interests payable solely by the
issuance of additional Equity Interests (other than Disqualified Stock) of the Person paying such dividends or distributions) or directly or indirectly redeem, purchase, retire or otherwise acquire for value (or permit any Subsidiary to purchase or
acquire) any Equity Interests of the Borrower or any Parent Entity or set aside any amount for any such purpose (other than through the issuance of additional Equity Interests (other than Disqualified Stock) of the Borrower or any Parent Entity), in
each case excluding payments pursuant to the Transactions and payments required by the Plan of Reorganization (the foregoing, “Restricted Payments”); provided, however, that: 

(a) any Subsidiary of the Borrower may make Restricted Payments to the Borrower or to any Wholly-Owned Subsidiary of the Borrower (or, in the
case of non-Wholly-Owned Subsidiaries, to the Borrower or any Subsidiary of the Borrower that is a direct or indirect parent of such Subsidiary and to each other owner of Equity Interests of such Subsidiary on a pro rata basis (or more favorable
basis from the perspective of the Borrower or such Subsidiary) based on their relative ownership interests); 
 (b) Restricted Payments may
be made in respect of (i) overhead, corporate operating, legal, accounting and other professional fees and expenses of any Parent Entity, (ii) fees and expenses related to any public offering or private placement of debt or equity
securities of any Parent Entity whether or not consummated, (iii) franchise and similar taxes and other fees and expenses, required to maintain any Parent Entity’s existence, (iv) payments permitted by Section 6.07(b)
(other than clauses (vii), (xxii) and (xxiii) thereof), (v) customary salary, bonus and other benefits payable to, and indemnities provided on behalf of, officers, directors and employees of any Parent Entity, in each case in order to
permit any Parent Entity to make such payments, and (vi) interest and/or principal on Indebtedness of any Parent Entity, the proceeds of which have been contributed to the Borrower or any Subsidiary thereof and that has been guaranteed by, or
is otherwise considered Indebtedness of, the Borrower or any Subsidiary thereof in accordance with Section 6.01; provided, that in the case of clauses (i), (ii) and (iii), the amount of such Restricted Payments shall not
exceed the portion of any amounts referred to in such clauses (i), (ii) and (iii) that are allocable to the Borrower or its Subsidiaries; 

  
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 (c) Restricted Payments may be made to any Parent Entity the proceeds of which are used to
purchase or redeem the Equity Interests of the Borrower or any Parent Entity (including related stock appreciation rights or similar securities) held by then present or former directors, consultants, officers or employees of any Parent Entity, the
Borrower or any of the Subsidiaries or by any Plan or any shareholders’ agreement then in effect upon such Person’s death, disability, retirement or termination of employment or under the terms of any such Plan or any other agreement under
which such shares of stock or related rights were issued; provided, that the aggregate amount of such purchases or redemptions under this paragraph (c) shall not exceed in any fiscal year (1) $9,000,000 which shall increase to
$18,000,000 per fiscal year after a Qualified IPO, plus (2) (x) the amount of net proceeds contributed to the Borrower that were received by any Parent Entity during such calendar year from sales of Equity Interests (other than
Disqualified Stock) of any Parent Entity (to the extent contributed to the Borrower) to directors, consultants, officers or employees of any Parent Entity, the Borrower or any Subsidiary in connection with permitted employee compensation and
incentive arrangements and (y) the amount of net cash proceeds of any key-man life insurance policies received during such calendar year, which, if not used in any year, may be carried forward to any subsequent calendar year, subject, with
respect to unused amounts from clause (1) of this proviso that are carried forward, to an overall limit in any fiscal year of $15,000,000 which shall increase to $30,000,000 per fiscal year after a Qualified IPO; 

(d) noncash repurchases of Equity Interests deemed to occur upon exercise of stock options or warrants if such Equity Interests represent a
portion of the exercise price of such options or warrants; 
 (e) Restricted Payments may be made in an aggregate amount equal to the
portion, if any, of the Cumulative Credit on such date that the Borrower elects to apply to this Section 6.06(e), such election to be specified in a written notice of a Responsible Officer of the Borrower calculating in reasonable detail
the amount of Cumulative Credit immediately prior to such election and the amount thereof elected to be so applied; 
 (f) Restricted
Payments may be made to allow any Parent Entity to make payments in cash, in lieu of the issuance of fractional shares, upon the exercise of warrants or upon the conversion or exchange of Equity Interests of any such Person; 

(g) any Restricted Payment made under or in connection with the Lease Agreements, an Operating Management Agreement or the Management and
Lease Support Agreement, or any tax matters or tax sharing agreement, employee matters agreement, transition services agreement or other agreement as contemplated by the Plan of Reorganization; 

(h) the Borrower and any of its Subsidiaries may make Restricted Payments to any Parent Entity and other holders of Equity Interests in the
Borrower in accordance with the Limited Liability Company Agreement with respect to any fiscal year to the extent necessary for such Parent Entity to distribute cash dividends to its shareholders in an aggregate amount not to exceed one hundred
percent (100.0%) of its “real estate investment trust taxable income” within the meaning of Section 857(b)(2) of the Code for each taxable year; 

  
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 (i) Restricted Payments may be made to any Parent Entity to finance any Investment that would
otherwise be permitted to be made by a Borrower or a Subsidiary pursuant to Section 6.04; provided that (A) such Restricted Payment shall be made substantially concurrently with the closing of such Investment and
(B) such Parent Entity shall, immediately following the closing thereof, cause (1) all property acquired (whether assets or Equity Interests) to be contributed to the Borrower or a Subsidiary or (2) the merger, consolidation or
amalgamation (to the extent permitted in Section 6.05) of the Person formed or acquired into the Borrower or such Subsidiary in order to consummate such Permitted Business Acquisition or Investment, in each case, in accordance with the
requirements of Section 5.10; 
 (j) any Purging Distribution may be made; 

(k) [reserved]; 
 (l) there
shall be permitted the exchange of Series A Preferred Units or Series A Preferred Shares for Series A Preferred Redeeming Subordinated Debt, after the occurrence of a default thereunder by the issuer of Series A Preferred Units or Series A Preferred
Shares at the election of the holders thereof in accordance with the respective terms of such Series A Preferred Units or Series A Preferred Shares; 

(m) [reserved]; 
 (n) Restricted
Payments to any Parent Entity that files a consolidated tax return that includes the Borrower and its Subsidiaries (including, without limitation, by virtue of such Parent Entity being the common parent of a consolidated or combined tax group of
which the Borrower and/or its Subsidiaries are members) in an amount not to exceed the amount that the Borrower and its Subsidiaries would have been required to pay in respect of federal, state or local taxes (as the case may be) if the Borrower and
its Subsidiaries paid such taxes as a stand-alone taxpayer (or stand-alone group); 
 (o) additional Restricted Payments in an aggregate
amount not to exceed the greater of $30,000,000 and 0.60% of Adjusted Total Assets; 
 (p) the payment of any dividend or distribution or
the consummation of any irrevocable redemption within 60 days after the date of declaration thereof, if at the date of declaration or the consummation of any irrevocable redemption, as applicable, such payment would have complied with the provisions
of this Agreement; 
 (q) (I) the redemption, repurchase, retirement or other acquisition of any Equity Interests (“Retired Capital
Stock”) or subordinated Indebtedness of the Borrower, any Parent Entity of the Borrower or any Loan Party in exchange for, or out of the proceeds of, the substantially concurrent sale of, Equity Interests of the Borrower or any Parent
Entity of the Borrower or contributions to the equity capital of the Borrower (other than any Disqualified Stock or any Equity Interests sold to a Subsidiary or to the Borrower) (provided that the amount of such cash proceeds utilized for any
such redemption, repurchase, retirement or other 

  
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acquisition will not increase the Cumulative Credit, and such proceeds may not be utilized for any such redemption, repurchase, retirement or other acquisition to the extent that they do increase
the Cumulative Credit) (collectively, including any such contributions, “Refunding Capital Stock”), (II) the declaration and payment of dividends on the Retired Capital Stock out of the proceeds of the substantially concurrent sale
(other than to a Subsidiary or to the Borrower) of Refunding Capital Stock, and (III) the declaration and payment of dividends on the Refunding Capital Stock (other than Refunding Capital Stock the proceeds of which were used to redeem, repurchase,
retire or otherwise acquire any Equity Interests of any Parent Entity of the Borrower) in an aggregate amount no greater than the aggregate amount of dividends that were declarable and payable on such Retired Capital Stock immediately prior to such
retirement; 
 (r) Restricted Payments in respect of Disqualified Stock issued after the Closing Date in accordance with
Section 6.01; 
 (s) Restricted Payments that are made with Excluded Contributions; or 

(t) the contribution or other distribution of the common equity of Parent to any CPLV Entity in connection with the conversion or exchange of
Indebtedness of any of the CPLV Entities for or into the common equity of Parent. 
 Section 6.07 Transactions with Affiliates.

 (a) Sell or transfer any property or assets to, or purchase or acquire any property or assets from, or otherwise engage in any other
transaction (or series of related transactions) with, any of its Affiliates in a transaction involving aggregate consideration in excess of $30,000,000, in each case, unless such transaction is upon terms no less favorable in any material respect to
the Borrower or such Subsidiary, as applicable, than would be obtained in a comparable arm’s-length transaction with a Person that is not an Affiliate, and if such transaction involves aggregate consideration in excess of $60,000,000, the
Borrower delivers to the Administrative Agent a resolution adopted in good faith by the majority of the disinterested directors of the Board of Directors, approving such transaction and the Borrower delivers to the Administrative Agent a certificate
from a Responsible Officer of the Borrower certifying that such transaction complies with this Section 6.07(a). For purposes of this Section 6.07, any transaction with any Affiliate shall be deemed to have satisfied the
standard set forth in the immediately preceding sentence if such transaction (or series of related transactions) is approved by a majority of the Disinterested Directors of the Borrower. 

(b) The foregoing paragraph (a) shall not prohibit, to the extent otherwise permitted under this Agreement: 

(i) the entry into and any issuance of securities, or other payments, awards or grants in cash, securities or otherwise
pursuant to, or the funding of, employment arrangements, equity purchase agreements, stock options and stock ownership plans approved by the Board of Directors of the Borrower; 

(ii) loans (or cancellation of loans) or advances or payments to employees, directors, officers or consultants of the Borrower
or any of the Subsidiaries in accordance with Section 6.04; 

  
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 (iii) transactions among the Borrower or any Subsidiary or any entity that becomes a Subsidiary
as a result of such transaction (including via merger, consolidation or amalgamation in which the Borrower or Subsidiary is the surviving entity); 

(iv) the payment of fees, reasonable out-of-pocket costs and indemnities to directors, officers, consultants and employees of any Parent
Entity, the Borrower and the Subsidiaries in the ordinary course of business (limited, in the case of any Parent Entity, to the portion of such fees and expenses that are allocable to the Borrower and the Subsidiaries); 

(v) the Transactions, any transactions pursuant to the Transaction Documents and transactions, agreements and arrangements in existence on the
Closing Date or any transaction contemplated thereby and, to the extent involving aggregate consideration in excess of $10,000,000, set forth on Schedule 6.07 or any modification, amendment, supplement or replacement thereto or renewal or
replacement thereof or similar arrangement to the extent such modification, amendment, supplement, replacement, renewal or arrangement is not materially adverse to the Lenders when taken as a whole (as determined by the Borrower in good faith) and
other transactions, agreements and arrangements described on Schedule 6.07, and any modification, amendment, supplement or replacement thereto or renewal or replacement thereof or similar transactions, agreements or arrangements entered into
by the Borrower or any of the Subsidiaries to the extent such modification, amendment, supplement, replacement, renewal or arrangement is not adverse to the Company when taken as a whole in any material respect (as determined in good faith by the
Borrower) and, in each case, any modification, amendment, supplement, replacement or renewal made pursuant to the terms of such agreements as in effect on the Closing Date or as subsequently amended or entered into in accordance with this Agreement
(such as any modifications to rent or the term thereof in connection with a renewal thereof and modifications to rent resulting from the sale or disposition of properties or acquisition of properties subject to any such agreement)) or any
transaction contemplated thereby as determined in good faith by an Officer of the Borrower; 
 (vi) (A) any employment agreements entered
into by the Borrower or any of the Subsidiaries in the ordinary course of business, (B) any subscription agreement or similar agreement pertaining to the repurchase of Equity Interests pursuant to put/call rights or similar rights with
employees, officers or directors, and (C) any employee compensation, benefit plan or arrangement, any health, disability or similar insurance plan which covers employees, and any reasonable employment contract and transactions pursuant thereto;

 (vii) Restricted Payments permitted under Section 6.06, including payments to any Parent Entity; 

(viii) transactions (A) between or among the Borrower and other Loan Parties or (B) between or among Subsidiaries that are not Loan
Parties; 
 (ix) [reserved]; 

  
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 (x) transactions in which the Borrower or any Subsidiary, as the case may be, delivers to the
Administrative Agent a letter from an Independent Financial Advisor stating that such transaction is fair to the Borrower or such Subsidiary from a financial point of view or meets the requirements of clause (ii) of
Section 6.07(a); 
 (xi) (i) the Transactions and any transactions made in connection therewith and (ii) any transactions
made pursuant to or in connection with any Management and Lease Support Agreement or Master Lease, or any tax matters or tax sharing agreement, employee matters agreement, transition services agreement or other agreement as contemplated by the Plan
of Reorganization; 
 (xii) the issuance, sale or transfer of Equity Interests of the Borrower, including in connection with capital
contributions by a Parent Entity to the Borrower; 
 (xiii) the issuance of Equity Interests to the management of any Parent Entity, the
Borrower or any Subsidiary in connection with the Transaction; 
 (xiv) (i) transactions with customers, clients, suppliers, or purchasers
or sellers of goods or services or transactions otherwise relating to the purchase or sale of goods and services, in each case in the ordinary course of business and otherwise in compliance with the terms of this Agreement that are fair to the
Borrower or the Subsidiaries or (ii) transactions with joint ventures or Unrestricted Subsidiaries entered into in the ordinary course of business and consistent with past practice or industry norm; 

(xv) transactions between the Borrower or any of the Subsidiaries and any Person, a director of which is also a director of the Borrower or
any direct or indirect parent company of the Borrower, provided, however, that (A) such director abstains from voting as a director of the Borrower or such direct or indirect parent company, as the case may be, on any matter
involving such other Person and (B) such Person is not an Affiliate of the Borrower for any reason other than such director’s acting in such capacity; 

(xvi) transactions permitted by, and complying with, the provisions of Sections 6.04, 6.05 or 6.06; 

(xvii) transactions undertaken in good faith (in the reasonable opinion of the Borrower) for the purpose of improving the consolidated tax
efficiency of the Borrower and the Subsidiaries (provided that such transactions, taken as a whole, are not materially adverse to the Borrower and the Subsidiaries); 

(xviii) [reserved]; 
 (xix)
pledges of Equity Interests of Unrestricted Subsidiaries; or 
 (xx) the formation and maintenance of any consolidated group or subgroup for
tax, accounting or cash pooling or management purposes in the ordinary course of business. 

  
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 Notwithstanding the foregoing, transactions with CEC, CES, CEOC or any of their respective
Affiliates shall be made in compliance with either Section 6.07(a) or one or more of the provisions of Section 6.07(b) above (regardless of whether CEC, CES or CEOC meets the definition of “Affiliate” under this
Agreement). 
 Section 6.08 Business of the Borrower. 

The Borrower and its Subsidiaries, taken as a whole, will not fundamentally and materially and substantively alter the character of their
business, taken as a whole, from the business conducted by the Borrower and its Subsidiaries, taken as a whole, on the Closing Date and other business activities which are extensions thereof or otherwise similar, incidental, complementary,
synergistic, reasonably related, or ancillary to any of the foregoing (and non-core incidental businesses acquired in connection with any permitted Investment) or constitute any Similar Business, in each case as determined by the Borrower in good
faith. 
 Section 6.09 Limitation on Modifications of Certain Indebtedness; Modifications of Certificate of Incorporation, By-Laws
and Certain Other Agreements; etc. 
 (a) Amend or modify in any manner materially adverse to the Lenders taken as a whole (as
determined in good faith by the Borrower), or grant any waiver or release under or terminate in any manner (if such granting or termination shall be materially adverse to the Lenders when taken as a whole (as determined in good faith by the
Borrower)), (x) the articles or certificate of incorporation, by-laws, limited liability company operating agreement, partnership agreement or other organizational documents of the Borrower or any other Loan Party or (y) the Lease
Agreements, the Management and Lease Support Agreement, the Right of First Refusal Agreement or the PropCo Call Right Agreement, except in each case such amendments, modifications, waivers or releases permitted pursuant to Section 6.07.
Borrower shall observe and perform the obligations imposed upon Borrower under the Lease Agreements, the Right of First Refusal Agreement and the PropCo Call Right Agreement in a commercially reasonable manner, and Borrower shall enforce the terms,
covenants and conditions contained in the Lease Agreements, the Right of First Refusal Agreement and the PropCo Call Right Agreement on the part of the counterparties thereunder to be observed or performed in a commercially reasonable manner except
in each case to the extent failure to perform or enforce would not reasonably be expected to result in a Material Adverse Effect. 
 (b) (i)
Make, directly or indirectly, any voluntary payment or other distribution (whether in cash, securities or other property) of or in respect of principal of or interest on the loans under any Indebtedness of the Borrower or any Subsidiary that is
expressly subordinated in right of payment to the payment of the Obligations (other than intercompany Indebtedness) or that is secured by Liens on the Collateral ranking junior in right of security to the Liens on the Collateral securing the
Obligations (in each case, “Junior Financing”), or any payment or other distribution (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement,
acquisition, cancellation or termination in respect of any Junior Financing except for (A) Refinancings with Indebtedness permitted by Section 6.01, (B) payments of regularly scheduled interest and fees due thereunder, other
non-accelerated and non-principal payments thereunder, any mandatory prepayments of principal, interest and fees thereunder, scheduled payments thereon necessary to avoid the Junior 

  
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Financing to constitute “applicable high yield discount obligations” within the meaning of Section 163(i)(1) of the Code, and payment of principal on the scheduled maturity date of
any Junior Financing (or within one year thereof), (C) payments or distributions in respect of all or any portion of the Junior Financing with the proceeds contributed to the Borrower by any Parent Entity from the issuance, sale or exchange by
any Parent Entity of Qualified Equity Interests made within eighteen months prior thereto, (D) the conversion of any Junior Financing to Equity Interests of the Borrower or any Parent Entity, or (E) so long as no Event of Default has
occurred and is continuing or would result therefrom, payments or distributions in respect of Junior Financings prior to their scheduled maturity made, in an aggregate amount, not to exceed the portion, if any, of the Cumulative Credit on the date
of such election that the Borrower elects to apply to this Section 6.09(b)(i)(E), such election to be specified in a written notice of a Responsible Officer of the Borrower calculating in reasonable detail the amount of Cumulative Credit
immediately prior to such election and the amount thereof elected to be applied; or 
 (ii) Amend or modify, or permit the
amendment or modification of, any provision of any such Junior Financing that constitutes Material Indebtedness or any agreement, document or instrument evidencing or relating thereto, other than amendments or modifications that (A) are not
materially adverse to Lenders when taken as a whole (as determined in good faith by the Borrower), (B) that do not affect the subordination or payment provisions thereof (if any) in a manner materially adverse to the Lenders when taken as a
whole (as determined in good faith by the Borrower), (C) are otherwise in accordance with the terms of the applicable intercreditor agreement or (D) otherwise comply with the definition of “Permitted Refinancing
Indebtedness.” 
 (c) Permit any Material Subsidiary to enter into any agreement or instrument that by its terms restricts
(1) the payment of dividends or distributions or the making of cash advances to the Borrower or any Subsidiary that is a direct or indirect parent of such Subsidiary or (2) the granting of Liens by the Borrower or such Material Subsidiary
pursuant to the Security Documents, in each case other than those arising under any Loan Document, except, in each case, restrictions existing by reason of: 

(A) restrictions imposed by applicable law or regulation or in connection with any legal proceeding or regulatory review by a
governmental authority having regulatory authority; 
 (B) contractual encumbrances or restrictions (x) in effect on the
Closing Date under Indebtedness existing on the Closing Date and set forth on Schedule 6.01, the First Priority Senior Secured Notes, the Second Priority Senior Secured Notes or (y) in any Refinancing Notes, any First Lien Notes or any
agreements related to any Permitted Refinancing Indebtedness in respect of any such Indebtedness that, in each case, do not materially expand the scope of any such encumbrance or restriction (as determined in good faith by the Borrower) or would not
materially adversely affect the Loan Parties’ obligation or ability to make payments required hereunder (as determined in good faith by the Borrower); 

(C) any restriction on a Subsidiary imposed pursuant to an agreement entered into for the sale or disposition of the Equity
Interests or assets of a Subsidiary; 

  
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 (D) customary provisions in joint venture agreements and other similar agreements
entered into in the ordinary course of business; 
 (E) any restrictions imposed by any agreement relating to secured
Indebtedness permitted by this Agreement to the extent that such restrictions apply only to the specific property or assets securing such Indebtedness and not all or substantially all assets; 

(F) any restrictions imposed by any agreement relating to Indebtedness incurred pursuant to Sections 6.01 or Permitted
Refinancing Indebtedness in respect thereof, to the extent such restrictions are not materially more restrictive, taken as a whole, than the restrictions contained in this Agreement (as determined in good faith by the Borrower); 

(G) customary provisions contained in leases or licenses of intellectual property and other similar agreements entered into in
the ordinary course of business; 
 (H) customary provisions restricting subletting or assignment of any lease governing a
leasehold interest; 
 (I) customary provisions restricting assignment of any agreement entered into in the ordinary course
of business; 
 (J) customary restrictions and conditions contained in any agreement relating to the sale, transfer, lease or
other disposition of any asset permitted under Section 6.05 pending the consummation of such sale, transfer, lease or other disposition; 

(K) customary restrictions and conditions contained in the document relating to any Lien, so long as (1) such Lien is a
Permitted Lien and such restrictions or conditions relate only to the specific asset subject to such Lien and (2) such restrictions and conditions are not created for the purpose of avoiding the restrictions imposed by this
Section 6.09; 
 (L) customary net worth provisions contained in Real Property leases entered into by
Subsidiaries of the Borrower, so long as the Borrower has determined in good faith that such net worth provisions would not reasonably be expected to impair the ability of the Borrower and its Subsidiaries to meet their ongoing obligations; 

(M) any agreement in effect at the time such Subsidiary becomes a Subsidiary (including in connection with the Transactions),
so long as such agreement was not entered into in contemplation of such Person becoming a Subsidiary; 
 (N) restrictions in
agreements representing Indebtedness permitted under Section 6.01 of a Subsidiary of the Borrower that is not a Loan Party; 

(O) customary restrictions on leases, subleases, licenses or Equity Interests or asset sale agreements otherwise permitted
hereby as long as such restrictions relate to the Equity Interests and assets subject thereto; 

  
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 (P) restrictions on cash or other deposits imposed by customers under contracts
entered into in the ordinary course of business; 
 (Q) restrictions contained in any agreements related to a Project
Financing or Qualified Non-Recourse Debt; 
 (R) restrictions imposed by any agreement governing Indebtedness entered into on
or after the Closing Date and otherwise permitted hereunder that are, taken as a whole, in the good faith judgment of the Borrower, no more restrictive with respect to the Borrower or any Subsidiary than customary market terms for Indebtedness of
such type, so long as the Borrower shall have determined in good faith that such restrictions will not affect its obligation or ability to make payments required hereunder; or 

(S) any encumbrances or restrictions of the type referred to in Sections 6.09(c)(i) and 6.09(c)(ii) above imposed
by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of or similar arrangements or the contracts, instruments or obligations referred to in clauses (A) through
(R) above; provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings or similar arrangements are, in the good faith judgment of the Borrower, no more
restrictive with respect to such dividend, other payment and Lien restrictions than those contained in the dividend, other payment and Lien restrictions prior to such amendment, modification, restatement, renewal, increase, supplement, refunding,
replacement or refinancing or similar arrangements or are otherwise in accordance with the terms of the applicable intercreditor agreement. 

(d) Without the consent of the Administrative Agent, amend, restate, supplement, waive or otherwise modify any document, agreement or
instrument related to the First Priority Senior Secured Notes if the effect of such amendment, restatement, supplement, waiver or other modification would (i) shorten the scheduled maturity date of the First Priority Senior Secured Notes,
unless the Term B Facility Maturity Date then in effect is shortened to a date that is not longer than the shortened scheduled maturity date of the First Priority Senior Secured Notes or (ii) increase the First Priority Senior Secured Notes
All-in Yield by more than 3.50% per annum above the All-in Yield on the Term B Loans at such time, unless the All-In Yield on the Term B Loans is increased to be not less than the increased First Priority Senior Secured Notes All-In Yield, it
being understood that if (x) the consent of the Administrative Agent is obtained, (y) the Term B Facility Maturity Date is shortened as provided above or (z) the All-In Yield on the Term B Loans is increased as provided above, then
the limitations and conditions of this Section 6.09(d) shall apply to each subsequent amendment, restatement, supplement, waiver or other modification of any document, agreement or instrument related to the First Priority Senior Secured
Notes. 
 Section 6.10 [Reserved]. 

  
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 ARTICLE VII 

Events of Default 

Section 7.01 Events of Default. In case of the happening of any of the following events (each, an “Event of
Default”): 
 (a) any representation or warranty made or deemed made by any Loan Party herein or in any other Loan Document or any
certificate or document delivered pursuant hereto or thereto shall prove to have been false or misleading in any material respect when so made or deemed made; 

(b) default shall be made in the payment of any principal of any Loan when and as the same shall become due and payable, whether at the due
date thereof or at a date fixed for prepayment thereof or by acceleration thereof or otherwise; 
 (c) default shall be made in the payment
of any interest on any Loan or the reimbursement with respect to any L/C Obligation or in the payment of any Fee or any other amount (other than an amount referred to in clause (b) above) due under any Loan Document, when and as the same shall
become due and payable, and such default shall continue unremedied for a period of five Business Days; 
 (d) default shall be made in the
due observance or performance by any Loan Party of any covenant, condition or agreement contained in (i) Section 5.01(a) (with respect to the Borrower), (ii) Section 5.05(a) (provided that the delivery of a
notice of Default or Event of Default at any time will cure an Event of Default under Section 5.05(a) arising from the failure of the Borrower to timely deliver such notice of Default or Event of Default),
(iii) Section 5.08, (iv) Section 5.14 or (v) Article VI; provided that an Event of Default under Section 6.10 is subject to the Cure Right set forth in Section 7.02;
provided further that an Event of Default under Section 6.10 shall not constitute an Event of Default for purposes of any Term Loan unless and until the Administrative Agent (with the consent, or at the request, of the
Required Revolving Lenders) has actually terminated the Revolving Facility Commitments and declared all outstanding Revolving Facility Loans to be immediately due and payable in accordance with this Agreement and such declaration has not been
rescinded on or before such date; 
 (e) default shall be made in the due observance or performance by the Borrower or any Loan Party of any
covenant, condition or agreement contained in any Loan Document (other than those specified in paragraphs (b), (c) and (d) above) and such default shall continue unremedied for a period of 30 days after written notice thereof from the
Administrative Agent to the Borrower or a Responsible Officer knows of the default thereof; 
 (f) (i) any event or condition occurs that
(A) results in any Material Indebtedness becoming due prior to its scheduled maturity or (B) enables or permits (with all applicable grace periods having expired) the holder or holders of any Material Indebtedness or any trustee or agent
on its or their behalf to cause any Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; or (ii) the Borrower or any of the Material Subsidiaries shall
fail to pay the principal of any Material Indebtedness at the stated final maturity thereof; provided that this clause (f) shall not apply to 

  
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(A) secured Indebtedness that becomes due as a result of the sale, disposition or transfer (including as a result of a casualty or condemnation event) of the property or assets securing such
Indebtedness if such sale, disposition or transfer is permitted hereunder and under the documents providing for such Indebtedness, (B) Indebtedness which is convertible into Equity Interest, and converts into Equity Interests in accordance with
its terms or (C) any breach or default that (x) is remedied by the Borrower or the applicable Subsidiary or (y) is waived (including in the form of amendment) by the requisite holders of the applicable Material Indebtedness, in either
case, prior to the acceleration of all the Loans pursuant to this Section 7.01(f); 
 (g) there shall have occurred a Change of
Control; 
 (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of competent jurisdiction
seeking (i) relief in respect of the Borrower or any Material Subsidiary, or of a substantial part of the property or assets of the Borrower or any Material Subsidiary, under Title 11 of the United States Code, as now constituted or hereafter
amended, or any other federal, state or foreign bankruptcy, insolvency, receivership or similar law, (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Material
Subsidiary or for a substantial part of the property or assets the Borrower or any Material Subsidiary, or (iii) the winding-up or liquidation of the Borrower or any Material Subsidiary (other than as permitted hereunder); and such proceeding
or petition shall continue undismissed for 60 consecutive days or an order or decree approving or ordering any of the foregoing shall be entered; 

(i) the Borrower or any Material Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking relief under Title
11 of the United States Code, as now constituted or hereafter amended, or any other federal, state or foreign bankruptcy, insolvency, receivership or similar law, (ii) consent to the institution of, or fail to contest in a timely and
appropriate manner, any proceeding or the filing of any petition described in paragraph (h) above, (iii) apply for or consent in writing to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official
for the Borrower or any Material Subsidiary or for a substantial part of the property or assets of the Borrower or any Material Subsidiary, (iv) file an answer admitting the material allegations of a petition filed against it in any such
proceeding, (v) make a general assignment for the benefit of creditors, or (vi) become unable or admit in writing its general inability or fail generally to pay its debts as they become due; 

(j) the failure by the Borrower or any Material Subsidiary to pay one or more final judgments aggregating in excess of $60,000,000 (to the
extent not covered by insurance or third party indemnities, in each case, that has not been denied), which judgments are not discharged or effectively waived or stayed for a period of 45 consecutive days, or any action shall be legally taken by a
judgment creditor to levy upon assets or properties of the Borrower or any Material Subsidiary to enforce any such judgment; 
 (k) Except
as would not, either individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect: (i) a trustee shall be appointed by a United States district court to administer any Plan, (ii) an ERISA Event occurs
with respect to any Plan or Multiemployer Plan, (iii) the PBGC shall institute proceedings (including giving notice of intent thereof) to terminate any Plan, (iv) the Borrower or any Subsidiary, or to the knowledge of

  
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Borrower, any ERISA Affiliate shall have been notified by the sponsor of a Multiemployer Plan that such Multiemployer Plan is in reorganization or is being terminated, within the meaning of Title
IV of ERISA, or (v) the Borrower or any Subsidiary shall engage in any “prohibited transaction” (as defined in Section 406 of ERISA or Section 4975 of the Code) involving any Plan that would subject the Borrower or any
Subsidiary to tax; 
 (l) (i) any material provision of any Loan Document shall for any reason be asserted in writing by the Borrower or any
Loan Party not to be a legal, valid and binding obligation of any party thereto, (ii) any security interest purported to be created by any Security Document and to extend to assets that constitute a material portion of the Collateral shall
cease to be, or shall be asserted in writing by any Loan Party not to be, a valid and perfected security interest (perfected as or having the priority required by this Agreement or the relevant Security Document and subject to such limitations and
restrictions as are set forth herein and therein), except to the extent that any such loss of perfection or priority results from the limitations of foreign laws, rules and regulations as they apply to pledges of Equity Interests in or pledged
Indebtedness of Foreign Subsidiaries or the application thereof, or except from the action or inaction of the Collateral Agent, and except to the extent that such loss is covered by a lender’s title insurance policy and the Collateral Agent
shall be reasonably satisfied with the credit of such insurer, or (iii) a material portion of the Guarantees by the Loan Parties guaranteeing the Obligations shall cease to be in full force and effect (other than in accordance with the terms
thereof), or shall be asserted in writing by the Borrower or any Subsidiary Loan Party not to be in effect or not to be legal, valid and binding obligations (other than in accordance with the terms thereof); or 

(m) the occurrence of a License Revocation with respect to a license issued to any Borrower or any Subsidiary by any Gaming Authority with
respect to gaming operations at any gaming facility of any Borrower or any Subsidiary that continues for 30 calendar days to the extent that such License Revocation, together with all prior License Revocations that are still in effect, would
reasonably be expected to have a Material Adverse Effect, 
 then, and in every such event (other than an event with respect to the Borrower described in
paragraph (h) or (i) above), and at any time thereafter during the continuance of such event, the Administrative Agent, at the request of the Required Lenders, shall, by written notice to the Borrower, take any or all of the following
actions, at the same or different times: (i) terminate forthwith the Commitments, (ii) declare the Loan Obligations then outstanding to be forthwith due and payable in whole or in part, whereupon the principal of the Loans so declared to
be due and payable, together with accrued interest thereon and any unpaid accrued Fees and all other liabilities of the Borrower accrued hereunder and under any other Loan Document, shall become forthwith due and payable, without presentment,
demand, protest or any other notice of any kind, all of which are hereby expressly waived by the Borrower (to the extent permitted by applicable law), anything contained herein or in any other Loan Document to the contrary notwithstanding, and
(iii) if the Loans have been declared due and payable pursuant to clause (ii) above, demand Cash Collateral pursuant to Section 2.05(g); and in any event with respect to the Borrower described in paragraph (h) or
(i) above, the Commitments shall automatically terminate, the Loan Obligations then outstanding (which for the avoidance of doubt, shall include the applicable Prepayment Premium), together with accrued interest thereon and any unpaid accrued
Fees and all other liabilities of the Borrower accrued hereunder and under any other Loan Document, shall automatically become due and payable and the Administrative Agent shall be deemed to have 

  
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made a demand for Cash Collateral to the full extent permitted under Section 2.05(g), without presentment, demand, protest or any other notice of any kind, all of which are hereby
expressly waived by the Borrower (to the extent permitted by applicable law), anything contained herein or in any other Loan Document to the contrary notwithstanding. 

Section 7.02 Right to Cure. Notwithstanding anything to the contrary contained in Section 7.01, in the event that the
Borrowers fails (or, but for the operation of this Section 7.02, would fail) to comply with the requirements of the Financial Performance Covenant, if any, until the expiration of the 20th day subsequent to the date the certificate
calculating such Financial Performance Covenant is required to be delivered pursuant to Section 5.04(c) (the “Cure Deadline”), the Borrower shall have the right to issue Permitted Cure Securities for cash or otherwise
receive cash contributions to the capital of the Borrower (collectively, the “Cure Right”), and upon the receipt by the Borrower of such cash (the “Cure Amount”) pursuant to the exercise by the Borrower of such Cure
Right such Financial Performance Covenant shall be recalculated giving effect to a pro forma adjustment by which EBITDA shall be increased with respect to such applicable quarter and any four quarter period that contains such quarter, solely for the
purpose of measuring the Financial Performance Covenant and not for any other purpose under this Agreement (including for purposes of calculating any basket or threshold under any covenant), by an amount equal to the Cure Amount; provided,
that, (i) in each four fiscal quarter period there shall be at least one fiscal quarter in which the Cure Right is not exercised, (ii) the Cure Right shall not be exercised more than five (5) times prior to the Termination Date and
(iii) for purposes of this Section 7.02, the Cure Amount shall be no greater than the amount required for purposes of complying with the Financial Performance Covenant. If, after giving effect to the exercise of the Cure Right and
receipt by the Borrower of the Cure Amount, the Borrower is in compliance with the requirements of the Financial Performance Covenant, the Borrower shall be deemed to have satisfied the requirements of the Financial Performance Covenant as of the
relevant date of determination with the same effect as though there had been no failure to comply therewith at such date, and the applicable breach or default of the Financial Performance Covenant that had occurred shall be deemed cured for the
purposes of this Agreement. Upon delivery to the Administrative Agent by the Borrower of written notice that it intends to exercise the Cure Right under this Section 7.02, any Event of Default under Section 7.01(d) in respect
of a failure to observe or perform the Financial Performance Covenant shall retroactively be deemed not to have occurred; provided that the Borrower shall not be permitted to borrow Revolving Loans or make any application for an L/C Credit
Extension unless and until (x) the Cure Amount shall have been received by the Borrower prior to the Cure Deadline or (y) such Event of Default shall have been waived in accordance with the terms of this Agreement; provided,
further, that, upon the earlier to occur of the Cure Deadline if the Borrower has not received the necessary Cure Amount at such time and the date on which the Administrative Agent is notified that the necessary Cure Amount will not be
received by the Borrower (in each case, a “Cure Failure”), unless such Event of Default shall have been waived in accordance with the terms of this Agreement, such Event of Default shall be deemed reinstated retroactive to the date
on which the Event of Default first existed. So long as the Borrower is entitled to exercise the Cure Right pursuant to the foregoing terms and provisions of this Section 7.02, and unless and until a Cure Failure occurs, neither the
Administrative Agent nor any Lender shall impose default interest, accelerate the Obligations, terminate the Revolving Loan Commitment or exercise any enforcement remedy against any Loan Party or any of its Subsidiaries or any of their respective
properties solely on the basis of such financial covenant Event of Default. Upon 

  
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delivery to the Administrative Agent by the Borrower of written notice that it intends to exercise its rights under this Section 7.02, any Default or Event of Default, as the cased
may be, under Section 7.01(d) solely in respect of a failure to observe or perform the covenant contained in Section 6.10 shall retroactively be deemed not to have occurred. 

ARTICLE VIII 
 The Agents

 Section 8.01 Appointment. 

(a) Each Lender (in its capacities as a Lender and the Swingline Lender (if applicable) and on behalf of itself and its Affiliates as
potential counterparties to Secured Cash Management Agreements and Secured Swap Agreements) and each L/C Issuer (in such capacities and on behalf of itself and its Affiliates as potential counterparties to Secured Cash Management Agreements and
Secured Swap Agreements) hereby irrevocably designates and appoints the Administrative Agent as the agent of such Lender under this Agreement and the other Loan Documents and irrevocably authorizes the Administrative Agent, in such capacity, to take
such action on its behalf under the provisions of this Agreement and the other Loan Documents and to exercise such powers and perform such duties as are expressly delegated to the Administrative Agent by the terms of this Agreement and the other
Loan Documents, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement, the Administrative Agent shall not have any duties or responsibilities, except those
expressly set forth herein, or any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist
against the Administrative Agent. 
 (b) The Administrative Agent, each Lender (in its capacities as a Lender and the Swingline Lender (if
applicable) and on behalf of itself and its Affiliates as potential counterparties to Secured Cash Management Agreements and Secured Swap Agreements) and each L/C Issuer (in such capacities and on behalf of itself and its Affiliates as potential
counterparties to Secured Cash Management Agreements and Secured Swap Agreements) hereby irrevocably designate and appoint the Collateral Agent as the agent with respect to the Collateral, and each of the Administrative Agent, each Lender, the
Swingline Lender and each L/C Issuer irrevocably authorizes the Collateral Agent, in such capacity, to take such action on its behalf under the provisions of this Agreement and the other Loan Documents and to exercise such powers and perform such
duties as are expressly delegated to the Collateral Agent by the terms of this Agreement and the other Loan Documents, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in
this Agreement, the Collateral Agent shall not have any duties or responsibilities except those expressly set forth herein, or any fiduciary relationship with any of the Administrative Agent, the Lenders, the Swingline Lender or any L/C Issuers, and
no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Collateral Agent. 

  
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 (c) Each Lender (in its capacities as a Lender and the Swingline Lender (if applicable) and on
behalf of itself and its Affiliates as potential counterparties to Secured Cash Management Agreements and Secured Swap Agreements), each L/C Issuer (in such capacities and on behalf of itself and its Affiliates as potential counterparties to Secured
Cash Management Agreements and Secured Swap Agreements), the Administrative Agent and the Collateral Agent irrevocably appoints, designates and authorizes Wilmington Trust, National Association to act as security trustee (the “Security
Trustee”) on its behalf with regard to (i) the security, powers, rights, titles, benefits and interests (both present and future) to be constituted by and conferred on the Security Trustee under or pursuant to the Ship Mortgages and
the Insurance Assignments to be granted by certain Subsidiary Loan Parties in favor of the Security Trustee covering the whole of the Mortgaged Vessels and the insurances related thereto (including, without limitation, the benefit of all covenants,
undertakings, representations, warranties and obligations given, made or undertaken by the relevant Subsidiary Loan Parties in the Ship Mortgages and the Insurance Assignments), (ii) all monies, property and other assets paid or transferred
thereto or vested therein or in any agent thereof or received or recovered thereby or by any agent thereof pursuant to, or in connection with, the Ship Mortgages and the Insurance Assignments covering the Mortgaged Vessels, whether from the relevant
Subsidiary Loan Parties or any other Person, and (iii) all monies, investments, property or other assets at any time representing or deriving from any of the foregoing, including all interest, income and other sums at any time received or
receivable thereby or by any agent thereof in respect of the same (or any part thereof). The Security Trustee does hereby declare that it will hold the Ship Mortgages and the Insurance Assignments covering the Mortgaged Vessels and the insurances
related thereto as trustee in trust for the benefit of the Secured Parties, from and after the execution thereof, and the Security Trustee hereby accepts such appointment and agrees to hold, receive, administer and enforce the Ship Mortgages and the
Insurance Assignments covering the Mortgaged Vessels and the insurances related thereto, which Ship Mortgages and Insurance Assignments shall constitute the corpus of the trust, for the benefit of the Secured Parties in accordance with the terms
hereof and thereof, but the Security Trustee shall have no obligations hereunder or under the Ship Mortgages and Insurance Assignments covering the Mortgaged Vessels and the insurances related thereto except those obligations of the Security Trustee
expressly set forth herein and therein. The Security Trustee shall benefit from and be subject to all provisions in this Agreement that are otherwise applicable to the Collateral Agent, mutatis mutandis, including, without limitation, all
such provisions with respect to the liability or responsibility to and indemnification by the Secured Parties. The substitution of the Collateral Agent pursuant to the provisions of this Section 8 also constitute the substitution of the
Security Trustee. 
 Section 8.02 Delegation of Duties. The Administrative Agent and the Collateral Agent may each execute any
of its duties under this Agreement and the other Loan Documents by or through agents or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. Neither the Administrative Agent nor the
Collateral Agent shall be responsible for the negligence or misconduct of any agents or attorneys-in-fact selected by it with reasonable care. 

Section 8.03 Exculpatory Provisions. Neither the Administrative Agent nor the Collateral Agent nor the Security Trustee, nor any
of their respective officers, directors, employees, agents, attorneys-in-fact or Affiliates shall be (a) liable for any action lawfully taken or omitted to be taken by it or such Person under or in connection with this Agreement or any other
Loan Document (except for its or such Person’s own gross negligence, bad faith, or willful misconduct) or (b) responsible in any manner to any of the Lenders for any recitals, statements, 

  
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representations or warranties made by any Loan Party or any officer thereof contained in this Agreement or any other Loan Document or in any certificate, report, statement or other document
referred to or provided for in, or received by such Agent under or in connection with, this Agreement or any other Loan Document or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other
Loan Document or for any failure of any Loan Party to perform its obligations hereunder or thereunder. Neither the Administrative Agent nor the Collateral Agent shall be under any obligation to any Lender to ascertain or to inquire as to the
observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of any Loan Party. 

Section 8.04 Reliance by Agents. The Administrative Agent and the Collateral Agent shall be entitled to rely, and shall be fully
protected in relying, upon any writing, resolution, notice, consent, certificate, affidavit, letter, telecopy, telex or teletype message, statement, order or other document or instruction believed by it in good faith to be genuine and correct and to
have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including counsel to the Borrower), independent accountants and other experts selected by the Administrative Agent, the Collateral Agent
or the Security Trustee. The Administrative Agent may deem and treat the Lender specified in the Register with respect to any amount owing hereunder as the owner thereof for all purposes unless a written notice of assignment, negotiation or transfer
thereof shall have been filed with the Administrative Agent. The Administrative Agent and the Collateral Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Loan Document unless it shall first
receive such advice or concurrence of the Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense that may be incurred by it by reason of taking or
continuing to take any such action. The Administrative Agent and the Collateral Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of
the Required Lenders (or, with respect to a matter relating solely to one Facility, the request of the Majority Lenders under such Facility) (including as a result of exercising Permitted Business Judgment in the manner described in the proviso to
such definition), and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future holders of the Loans. 

Section 8.05 Notice of Default and Lender Direction. Neither the Administrative Agent nor the Collateral Agent shall be deemed to
have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless the Administrative Agent or Collateral Agent has received written notice from a Lender or the Borrower referring to this Agreement, describing such
Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, it shall give written notice thereof to the Lenders and the Collateral Agent. The
Administrative Agent and the Collateral Agent shall take such action with respect to a Default or Event of Default or any other matter (whether or not related to a Default or Event of Default, but not otherwise in contravention of this Article
VIII), in each case, as shall be directed in writing by the Required Lenders; provided that, with respect to any Default or Event of Default, unless and until the Administrative Agent shall have received such written directions, the
Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to 

  
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such Default or Event of Default as it shall deem advisable, except to the extent that this Agreement requires that such action be taken only with the approval of the Required Lenders or each of
the Lenders, as applicable. The Loan Parties hereby acknowledge the right of Required Lenders to direct the Administrative Agent and the Collateral Agent as set forth in this Section 8.05. 

Section 8.06 Non-Reliance on Administrative Agent, Collateral Agent and Other Lenders. Each Lender expressly acknowledges that
neither the Administrative Agent nor the Collateral Agent nor the Security Trustee, nor any of their respective officers, directors, employees, agents, attorneys-in-fact or Affiliates has made any representations or warranties to it and that no act
by the Administrative Agent or the Collateral Agent hereinafter taken, including any review of the affairs of any Loan Party, shall be deemed to constitute any representation or warranty by the Administrative Agent or the Collateral Agent to any
Lender, the Swingline Lender or any L/C Issuer. Each Lender, the Swingline Lender and each L/C Issuer represents to the Administrative Agent and the Collateral Agent that it has, independently and without reliance upon the Administrative Agent,
Collateral Agent or any other Lender, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness
of the Loan Parties and made its own decision to make its Loans hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon the Administrative Agent, Collateral Agent, or any other
Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to
make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Loan Parties. Except for notices, reports and other documents expressly required to be
furnished to the Lenders by the Administrative Agent hereunder, neither the Administrative Agent nor the Collateral Agent shall have any duty or responsibility to provide any Lender with any credit or other information concerning the business,
assets, operations, properties, financial condition, prospects or creditworthiness of any Loan Party that may come into the possession of the Administrative Agent or Collateral Agent any of their respective officers, directors, employees, agents,
attorneys-in-fact or Affiliates. 
 Section 8.07 Indemnification. The Lenders agree to indemnify the Administrative Agent and
the Collateral Agent and, for the avoidance of doubt, the Security Trustee, each in its capacity as such (to the extent not reimbursed by the Borrower and without limiting the obligation of the Borrower to do so), ratably according to their
respective portions of the total Term Loans and Revolving Facility Commitments (or, if the Revolving Facility Commitments shall have terminated, in accordance the Revolving Facility Commitments in effect immediately prior to such termination) held
on the date on which indemnification is sought, from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time (including at
any time following the payment of the Loans) be imposed on, incurred by or asserted against the Administrative Agent or the Collateral Agent or the Security Trustee in any way relating to or arising out of the Commitments, this Agreement, any of the
other Loan Documents, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any action taken or omitted by the Administrative 

  
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Agent or the Collateral Agent or the Security Trustee under or in connection with any of the foregoing, provided that no Lender shall be liable for the payment of any portion of such liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting from the Administrative Agent’s or the Collateral Agent’s or the Security Trustee’s gross negligence or willful misconduct
as determined by a final judgment of a court of competent jurisdiction. The agreements in this Section 8.07 shall survive the payment of the Loans and all other amounts payable hereunder. 

Section 8.08 Agents in their Individual Capacity. The Administrative Agent, the Collateral Agent and the Security Trustee and
their Affiliates may make loans to, accept deposits from and generally engage in any kind of business with any Loan Party as though such Persons were not the Administrative Agent and Collateral Agent and the Security Trustee hereunder and under the
other Loan Documents. With respect to the Loans made by it, the Administrative Agent and the Collateral Agent and the Security Trustee shall each have the same rights and powers under this Agreement and the other Loan Documents as any Lender and may
exercise the same as though it were not the Administrative Agent or the Collateral Agent or the Security Trustee, and the terms “Lender” and “Lenders” shall include the Administrative Agent and the Collateral Agent
and the Security Trustee in their individual capacities. 
 Section 8.09 Successor Agents. Each of the Administrative Agent and
Collateral Agent and the Security Trustee may at any time give notice of its resignation to the Lenders, the L/C Issuer and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, subject to the
reasonable consent of the Borrower so long as no Event of Default under Section 7.01(h) or (i) is continuing, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank
with an office in the United States. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Agent gives notice of its resignation, then the retiring Agent
may on behalf of the Lenders and the L/C Issuer, appoint a successor Agent meeting the qualifications set forth above with the consent of the Borrower; provided that if the retiring Agent shall notify the Borrower and the Lenders that no
qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Agent shall be discharged from its duties and obligations hereunder and under the
other Loan Documents (except in the case of the Collateral Agent or the Security Trustee holding collateral security on behalf of any Secured Parties, the retiring Collateral Agent or Security Trustee, as applicable, shall continue to hold such
collateral security as nominee until such time as a successor Collateral Agent or Security Trustee is appointed) and (2) all payments, communications and determinations provided to be made by, to or through such Agent shall instead be made by
or to each Lender and the L/C Issuer directly, until such time as the Required Lenders appoint a successor Agent as provided for above in this Section. In addition, (x) the Required Lenders, with the consent of the Borrower unless an Event of
Default under Section 7.01(b), (c), (h) or (i) has occurred and is continuing, may remove the then-current Administrative Agent and/or the Collateral Agent and/or the Security Trustee at any time so long as
the Required Lenders appoint, with the consent of the Borrower unless an Event of Default under Section 7.01(b), (c), (h) or (i) has occurred and is continuing, a successor Administrative Agent or successor
Collateral Agent or successor Security Trustee, as applicable, substantially concurrently with such removal (y) if a Revolving Facility is added pursuant to any Incremental Revolving Facility Commitment in accordance with
Section 2.21, the Borrower may 

  
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remove the then-current Administrative Agent and/or Collateral Agent and/or the Security Trustee, and the agent under the new Revolving Facility shall become the successor Administrative Agent or
successor Collateral Agent or successor Security Trustee, as applicable, substantially concurrently with such removal. Upon the acceptance of a successor’s appointment as the Administrative Agent or Collateral Agent or the Security Trustee, as
the case may be, hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Agent, and the retiring Agent shall be discharged from all of its duties and obligations
hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Borrower (following the effectiveness of such appointment) to such Agent shall be the same as those payable
to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article VIII and Section 9.05 shall
continue in effect for the benefit of such retiring Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Agent was acting as an Agent. 

Section 8.10 Payments Set Aside. To the extent that any payment by or on behalf of the Borrower is made to the Administrative
Agent, the L/C Issuer or any Lender, or the Administrative Agent, the L/C Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent
or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent, the L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any
proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not
been made or such setoff had not occurred and (b) each Lender and the L/C Issuer severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by the
Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the applicable Overnight Rate from time to time in effect, in the applicable currency of such recovery or payment.
The obligations of the Lenders and the L/C Issuer under clause (b) of the preceding sentence shall survive the payment in full of the Obligations and the termination of this Agreement. 

Section 8.11 Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law
or any other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and
irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise 

(i) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C
Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the L/C Issuer and the Administrative Agent (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C Issuer and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the L/C Issuer and the Administrative Agent
under Article II or Section 9.05) allowed in such judicial proceeding; and 

  
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 (ii) to collect and receive any monies or other property payable or deliverable
on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make such
payments to the Administrative Agent and, if the Administrative Agent shall consent to the making of such payments directly to the Lenders and the L/C Issuer, to pay to the Administrative Agent any amount due for the reasonable compensation,
expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Article II and Section 9.05. 

Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any
Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or the L/C Issuer to authorize the Administrative Agent to vote in respect of the claim of any Lender
or the L/C Issuer or in any such proceeding. 
 Section 8.12 Collateral and Guaranty Matters. The Lenders and the L/C Issuer
irrevocably authorize the Collateral Agent, at its option and in its discretion, to release any Lien on any property granted to or held by the Collateral Agent under any Loan Document if approved, authorized or ratified in writing in accordance with
Section 9.08, or pursuant to Section 9.18. Upon request by the Collateral Agent at any time, the Required Lenders will confirm in writing the Collateral Agent’s authority to release its interest in particular types or
items of property in accordance with this Section. 
 Section 8.13 [Reserved]. 

Section 8.14 First Lien Intercreditor Agreement and Collateral Matters. The Lenders hereby agree to the terms of the First Lien
Intercreditor Agreement and acknowledge that Wilmington Trust, National Association (and any successor Collateral Agent under the Security Documents and the First Lien Intercreditor Agreement) will be serving as Collateral Agent for both the Secured
Parties and the other First Lien Secured Parties under the Security Documents and the First Lien Intercreditor Agreement. Each Lender hereby consents to Wilmington Trust, National Association and any successor serving in such capacity and agrees not
to assert any claim (including as a result of any conflict of interest) against Wilmington Trust, National Association, or any such successor, arising from the role of the Collateral Agent under the Security Documents or the First Lien Intercreditor
Agreement so long as the Collateral Agent is either acting in accordance with the express terms of such documents or otherwise has not engaged in gross negligence, bad faith or willful misconduct. The Borrower and each Lender hereby agrees that the
resignation provisions set forth in the First Lien Intercreditor Agreement with respect to the Collateral Agent shall supersede any provision of this Agreement to the contrary. In addition, the Administrative Agent and Collateral Agent shall be
authorized from time to time, without the consent of any Lender, to execute or to enter into amendments of, and amendments and restatements of, the First Lien Intercreditor Agreement, the Junior Lien 

  
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Intercreditor Agreement and/or any additional and replacement intercreditor agreements, in each case in order to effect the pari passu treatment or the subordination of and to provide for certain
additional rights, obligations and limitations in respect of, any Liens required or permitted by the terms of this Agreement to be Liens pari passu with or junior to the Obligations, that are, in each case, incurred in accordance with Article VI of
this Agreement, and to establish certain relative rights as between the holders of the Obligations and the holders of the Indebtedness secured by such Liens. 

Section 8.15 Withholding Tax. To the extent required by any applicable laws, the Administrative Agent may withhold from any
payment to any Lender an amount equivalent to any applicable withholding Tax. Without limiting or expanding the provisions of Section 2.17, each Lender shall make payable in respect thereof within 15 days after demand therefor, any and
all Taxes asserted against the Administrative Agent by the IRS or any other Governmental Authority as a result of the failure of the Administrative Agent to properly withhold Tax from amounts paid to or for the account of such Lender. A certificate
as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time
owing to such Lender under this Agreement or any other Loan Document against any amount due the Administrative Agent under this Section 8.15. The agreements in this Section 8.15 shall survive the resignation and/or
replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations. For the avoidance of doubt, the term
“Lender” shall, for purposes of this Section 8.15, include any L/C Issuer. The Administrative Agent shall indemnify and hold harmless Lenders for any amounts treated as Excluded Taxes due to the failure of the Administrative
Agent to comply with Section 2.17(l), except to the extent that such failure was due to a failure of the Lender to comply with its obligations under Section 2.17. 

ARTICLE IX 
 Miscellaneous

 Section 9.01 Notices; Communications. 

(a) Except in the case of notices and other Communications expressly permitted to be given by telephone (and except as provided in
Section 9.01(b)), all notices and other Communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile or electronic email
as follows, and all notices and other Communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

(i) if to any Loan Party, the Administrative Agent, the L/C Issuer or the Swingline Lender, to the address, facsimile number,
electronic mail address or telephone number specified for such Person on Schedule 9.01; and 
 (ii) if to any other
Lender, to the address, facsimile number, electronic mail address or telephone number specified in its Administrative Questionnaire. 

  
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 (b) Notices and other Communications to the Lenders and the L/C Issuer hereunder may be delivered
or furnished by electronic communication (including any Platform selected by the Agent) pursuant to procedures approved by the Administrative Agent; provided, that the foregoing shall not apply to notices to any Lender or the L/C Issuer
pursuant to Article II if such Lender or the L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. Any of the Administrative Agent or the Borrower
may, in its discretion, agree to accept notices and other Communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or
Communications. 
 (c) Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have
been given when received. Notices sent by electronic means shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the
next business day for the recipient). Notices or Communications (i) sent to an e-mail address shall be deemed received when delivered and (ii) posted to an Internet or intranet website shall be deemed received upon the deemed receipt by
the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or Communication is available and identifying the website address therefore. 

(d) Any party hereto may change its address or facsimile number for notices and other Communications hereunder by notice to the other parties
hereto. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone number, facsimile number and electronic mail
address to which notices and other Communications may be sent and (ii) accurate wire instructions for such Lender. 
 (e) Documents
required to be delivered pursuant to Section 5.04 (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically (including as set forth in Section 9.17) and if so
delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website(s) on the Internet at the website(s) address listed on Schedule 9.01
or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored
by the Administrative Agent); provided, that the Borrower shall deliver paper copies of such documents to the Administrative Agent or any Lender that requests the Borrower to deliver such paper copies until a written request to cease
delivering paper copies is given by the Administrative Agent or such Lender. Except for certificates required by Section 5.04(c), the Administrative Agent shall have no obligation to request the delivery or to maintain copies of the
documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies
of such documents. 
 (f) Notices to Lenders via Platform. Each Loan Party agrees that the Administrative Agent may, but shall not be
obligated to, make Communications to the Lenders by posting the Communications on the Platform. 

  
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 Section 9.02 Survival of Agreement. All covenants, agreements, representations and
warranties made by the Loan Parties herein, in the other Loan Documents and in the certificates or other instruments prepared or delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been
relied upon by the Lenders and each L/C Issuer and shall survive the making by the Lenders of the Loans, the execution and delivery of the Loan Documents and the issuance of the Letters of Credit, regardless of any investigation made by such Persons
or on their behalf, and shall continue in full force and effect until the Termination Date. Without prejudice to the survival of any other agreements contained herein, indemnification and reimbursement obligations contained herein (including
pursuant to Sections 2.15, 2.17, 8.07 and 9.05) shall survive the Termination Date. 
 Section 9.03
Binding Effect. This Agreement shall become effective when it shall have been executed and delivered by the Borrower and the Administrative Agent and when the Administrative Agent shall have received copies hereof which, when taken together,
bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the Borrower, each L/C Issuer, the Administrative Agent, the Collateral Agent and each Lender and their respective permitted
successors and assigns. 
 Section 9.04 Successors and Assigns. 

(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby (including any Affiliate of the L/C Issuer that issues any Letter of Credit), except that (i) Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of
each Lender (and any attempted assignment or transfer by the Borrower without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this
Section 9.04. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby (including any Affiliate of the L/C
Issuer that issues any Letter of Credit), Participants (to the extent provided in clause (c) of this Section 9.04), and, to the extent expressly contemplated hereby, the Related Parties of each of the Agents, the L/C Issuer and the
Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement or the other Loan Documents. 
 (b) (i) Subject
to the conditions set forth in clause (b)(ii) below, any Lender may assign to one or more assignees other than any Disqualified Institution (each, an “Assignee”) all or a portion of its rights and obligations under this Agreement
(including all or a portion of its Commitments and the Loans at the time owing to it) with the prior written consent (such consent not to be unreasonably withheld or delayed) of: 

(A) the Borrower (in its sole discretion) to the extent such assignment is to an Affiliate of the Borrower, CEC, CES, CEOC and
their respective Affiliates; 
 (B) the Administrative Agent; provided, that no consent of the Administrative Agent
shall be required for an assignment of all or any portion of a Term Loan to a Lender, an Affiliate of a Lender or an Approved Fund; and 

  
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 (C) the L/C Issuer and the Swingline Lender; provided, that no consent of
the L/C Issuer and the Swingline Lender shall be required for an assignment of all or any portion of a Term Loan, 

provided, that any assignments to any Disqualified Institution in contravention of this provision shall be void ab
initio. 
 (ii) Assignments shall be subject to the following additional conditions: 

(A) except in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund or an assignment of the
entire remaining amount of the assigning Lender’s Commitments or Loans under any Facility, the amount of the Commitments or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Acceptance
with respect to such assignment is delivered to the Administrative Agent) shall not be less than (x) $250,000 in the case of Term Loans (and shall be in an amount of an integral multiple thereof) and (y) $250,000 in the case of Revolving
Facility Loans or Revolving Facility Commitments, unless each of the Borrower and the Administrative Agent otherwise consent; provided, that (1) no such consent of the Borrower shall be required if an Event of Default under
Sections 7.01(b), (c), (h) or (i) has occurred and is continuing and (2) such amounts shall be aggregated in respect of each Lender and its Affiliates or Approved Funds (with simultaneous assignments
to or by two or more Related Funds shall be treated as one assignment), if any; 
 (B) the parties to each assignment shall
execute and deliver to the Administrative Agent an Assignment and Acceptance via an electronic settlement system acceptable to the Administrative Agent (or, if required by the Administrative Agent, manually), and shall pay to the Administrative
Agent a processing and recordation fee of $3,500 (which fee may be waived or reduced in the sole discretion of the Administrative Agent); 

(C) the Assignee shall deliver to the Administrative Agent an Administrative Questionnaire, if it shall not be a Lender, and
any tax forms required to be delivered pursuant to Section 2.17; 
 (D) each partial assignment shall be made as
an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned, except that this clause (ii) shall not apply to the Swingline
Lender’s rights and obligations in respect of Swingline Loans; 
 (E) [reserved]; and 

(F) Affiliate Lenders shall not hold more than 25% of outstanding Term Loans at any time and any assignment in contravention of
this provision shall be void ab initio.  

  
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 For the purposes of this Section 9.04, “Approved Fund” means any Person (other than
a natural person) that is engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender, or
(c) an entity or an Affiliate of an entity that administers or manages a Lender. 
 (iii) Subject to acceptance and
recording thereof pursuant to paragraph (b)(v) below, from and after the effective date specified in each Assignment and Acceptance the Assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and
Acceptance, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Acceptance, be released from its obligations under this Agreement
(and, in the case of an Assignment and Acceptance covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections
2.15, 2.16, 2.17 and 9.05. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 9.04 shall be treated for purposes of this Agreement as a
sale by such Lender of a participation in such rights and obligations in accordance with clause (c) of this Section 9.04. 

(iv) The Administrative Agent, acting for this purpose as an agent of the Borrower, shall maintain at one of its offices in the
United States a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amount of the Loans and L/C Obligations owing to, each Lender
pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the Borrower, the Administrative Agent, the L/C Issuer and the Lenders shall treat each Person whose name is
recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower, the L/C Issuer and any Lender, at
any reasonable time and from time to time upon reasonable prior notice. 
 (v) Upon its receipt of a duly completed
Assignment and Acceptance executed by an assigning Lender and an Assignee, the Assignee’s completed Administrative Questionnaire (unless the Assignee shall already be a Lender hereunder), all applicable tax forms, the processing and recordation
fee referred to in clause (b) of this Section and any written consent to such assignment required by clause (b) of this Section, the Administrative Agent promptly shall accept such Assignment and Acceptance and record the information
contained therein in the Register. No assignment, whether or not evidenced by a promissory note, shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this clause (b)(v). 

(c) (1) Any Lender may, without the consent of the Borrower or the Administrative Agent, sell participations to one or more banks or other
entities other than a Disqualified Institution (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitments and the Loans owing to it);
provided, that (A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such 

  
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Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (C) the Borrower, the Administrative Agent, the L/C Issuer and the other
Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement pursuant to which a Lender sells such a participation shall provide that such Lender
shall retain the sole right to enforce this Agreement and the other Loan Documents and to approve any amendment, modification or waiver of any provision of this Agreement and the other Loan Documents; provided, that (x) such agreement
may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver that (1) requires the consent of each Lender directly and adversely affected thereby pursuant to clause (i), (ii),
(iii) or (vi) of the first proviso to Section 9.08(b) and (2) directly affects such Participant and (y) no other agreement with respect to amendment, modification or waiver may exist between such Lender and such
Participant. Subject to Section 9.04(c)(ii), the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.15, 2.16 and 2.17 (subject to the limitations and requirements of those Sections)
and to the extent such Participant complies with Section 2.17(e) and (f) as though it were a Lender (to the extent such Lender from whom the participation was sold to the Participant was so entitled) to the same extent as if
it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section 9.04. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.06 as
though it were a Lender (to the extent such Lender from whom the participation was sold to the Participant was so entitled), provided such Participant agrees to be subject to Section 2.18(c) as though it were a Lender. 

(i) Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower,
maintain a register on which it enters the name and address of each Participant and the principal and interest amount of each Participant’s interest in the Loans held by it (the “Participant Register”). The entries in the
Participant Register shall be conclusive, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of the participation in question for all purposes of this Agreement, notwithstanding notice to the
contrary; provided that no Lender shall have any obligation to disclose all or any portion of a Participant Register to any Person (including the identity of any Participant or any information relating to a Participant’s interest in any
Commitments, Loans or other Obligations under any Loan Document) except to the extent that such disclosure is necessary to establish that such Commitment, Loan or other Obligation is in registered form for U.S. federal income tax purposes or such
disclosure is otherwise required by applicable law. 
 (ii) A Participant shall not be entitled to receive any greater
payment under Sections 2.15, 2.16 or 2.17 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is
made with the Borrower’s prior written consent (not to be unreasonably withheld), which consent shall state that it is being given pursuant to this Section 9.04(c)(iii); provided that each potential Participant shall provide
such information as is reasonably requested by the Borrower in order for the Borrower to determine whether to provide their consent. 

  
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 (d) Any Lender may at any time pledge or assign a security interest in all or any portion of its
rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank and in the case of any Lender that is an Approved Fund, any pledge or assignment to any holders of
obligations owed, or securities issued, by such Lender, including to any trustee for, or any other representative of, such holders, and this Section 9.04 shall not apply to any such pledge or assignment of a security interest;
provided, that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or Assignee for such Lender as a party hereto. 

(e) The Borrower, upon receipt of written notice from the relevant Lender, agrees to issue Notes to any Lender requiring Notes to facilitate
transactions of the type described in paragraph (d) above. 
 (f) Notwithstanding the foregoing, any Conduit Lender may assign any or
all of the Loans it may have funded hereunder to its designating Lender without the consent of the Borrower or the Administrative Agent. The Borrower, each Lender and the Administrative Agent hereby confirms that it will not institute against a
Conduit Lender or join any other Person in instituting against a Conduit Lender any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding under any state bankruptcy or similar law, for one year and one day after the payment
in full of the latest maturing commercial paper note issued by such Conduit Lender; provided, however, that each Lender designating any Conduit Lender hereby agrees to indemnify, save and hold harmless each other party hereto and each
Loan Party for any loss, cost, damage or expense arising out of its inability to institute such a proceeding against such Conduit Lender during such period of forbearance. 

(g) If the Borrower wishes to replace the Loans or Commitments under any Facility with ones having different terms, it shall have the option,
and subject to at least three Business Days’ advance notice to the Lenders under such Facility, instead of prepaying the Loans or reducing or terminating the Commitments to be replaced, to (i) require the Lenders under such Facility to
assign such Loans or Commitments to the Administrative Agent or its designees and (ii) amend the terms thereof in accordance with Section 9.08 (with such replacement, if applicable, being deemed to have been made pursuant to
Section 9.08(d)). Pursuant to any such assignment, all Loans and Commitments to be replaced shall be purchased at par (allocated among the Lenders under such Facility in the same manner as would be required if such Loans were being
optionally prepaid or such Commitments were being optionally reduced or terminated by the Borrower), accompanied by payment of any accrued interest and fees thereon and any amounts owing pursuant to Section 9.05(b). By receiving such
purchase price, the Lenders under such Facility shall automatically be deemed to have assigned the Loans or Commitments under such Facility pursuant to the terms of the form of Assignment and Acceptance attached hereto as Exhibit A, and
accordingly no other action by such Lenders shall be required in connection therewith. The provisions of this paragraph (g) are intended to facilitate the maintenance of the perfection and priority of existing security interests in the
Collateral during any such replacement. 

  
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 (h) Notwithstanding anything to the contrary herein, no assignment or participation may be made
or participations sold to (w) any Disqualified Institution, (x) any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause
(h) or (y) a natural person. Notwithstanding anything to the contrary herein, the rights of the Lenders to make assignments and grant participations shall be subject to the approval of any Gaming Authority, to the extent required by
applicable Gaming Laws. 
 (i) Notwithstanding anything to the contrary in Sections 2.08, 2.11(a) or 2.18(c) (which
provisions shall not be applicable to clauses (i) or (j) of this Section 9.04), the Borrower and its Subsidiaries may purchase by way of assignment and become an Assignee with respect to Term Loans and/or Revolving Facility
Loans (other than any such Loans held by an Affiliate Lender) at any time and from time to time from Lenders in accordance with Section 9.04(b) hereof or reduce the aggregate amount of any Revolving Facility Commitment of a Lender that
has agreed to such reduction (“Permitted Loan Purchases”); provided that (A) no Event of Default has occurred and is continuing or would result from the Permitted Loan Purchase, (B) upon consummation of any such
Permitted Loan Purchase, the Loans and/or Revolving Facility Commitments purchased or terminated pursuant thereto shall be deemed to be automatically and immediately cancelled and extinguished in accordance with Section 9.04(j),
(C) to the extent the Borrower or Subsidiary is making a Permitted Loan Purchase of Revolving Facility Loans or Revolving Facility Commitments, upon giving effect to such Permitted Loan Purchase, there shall be sufficient aggregate Revolving
Facility Commitments among the Revolving Facility Lenders to apply to the Outstanding Amount of the L/C Obligations and Swingline Loans thereunder as of such date, unless the Borrower shall concurrently with the payment of the purchase price by the
Borrower or Subsidiary for such Revolving Facility Loans or the termination of such Revolving Facility Commitments, deposit cash collateral in an account with the Administrative Agent pursuant to Section 2.05(g) in the amount of any such
excess Outstanding Amount of the L/C Obligations and Swingline Loans thereunder, (D) Term Loans may not be repurchased with direct proceeds of Revolving Facility Loans, (E) all parties to the relevant assignment shall render customary
“big-boy” disclaimer letters, and (F) in connection with any such Permitted Loan Purchase (other than a termination of Revolving Facility Commitments), the Borrower or Subsidiary and such Lender that is the Assignor shall execute and
deliver to the Administrative Agent a Permitted Loan Purchase Assignment and Acceptance (and for the avoidance of doubt, shall not be required to execute and deliver an Assignment and Acceptance pursuant to Section 9.04(b)(ii)(B)) and
shall otherwise comply with the conditions to Assignments under this Section 9.04. 
 (j) Each Permitted Loan Purchase shall,
for purposes of this Agreement (including, without limitation, Section 2.08(b)) be deemed to be an automatic and immediate cancellation and extinguishment of such Term Loans and/or Revolving Facility Loans (with a corresponding permanent
reduction in Revolving Facility Commitments) and, in the case of Revolving Facility Loans or Revolving Facility Commitments, termination of the Revolving Facility Commitments, if applicable, and the Borrower shall, upon consummation of any Permitted
Loan Purchase, notify the Administrative Agent that the Register be updated to record such event as if it were a prepayment of such Loans (and in the case of Revolving Facility Loans or Revolving Facility Commitment, a permanent reduction in
Revolving Facility Commitments). 

  
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 Section 9.05 Expenses; Indemnity. 

(a) The Loan Parties agree to pay (i) all reasonable documented out-of-pocket expenses (including Other Taxes) incurred by the
Administrative Agent and the Collateral Agent in connection with the preparation of this Agreement and the other Loan Documents, or in connection with the administration of this Agreement and any amendments, modifications or waivers of the
provisions hereof or thereof, including the reasonable fees, charges and disbursements of Stroock & Stroock & Lavan LLP, counsel for the Administrative Agent and the Collateral Agent, and, if necessary, the reasonable fees, charges
and disbursements of one local counsel per jurisdiction and (ii) all out-of-pocket expenses (including Other Taxes) incurred by the Agents or any Lender in connection with the enforcement or protection of their rights in connection with this
Agreement and the other Loan Documents, in connection with the Loans made or the Letters of Credit issued hereunder, including the reasonable fees, charges and disbursements of counsel for the Agents and the Lenders (including the reasonable fees,
charges and disbursements of Stroock & Stroock & Lavan LLP, counsel for the Agents, and, if necessary, the reasonable fees, charges and disbursements of one local counsel per jurisdiction and, in the event of any conflict of
interest, such additional counsel for each of the Lenders retained with the consent of the Borrower to the extent of such conflict of interests). 

(b) The Borrower agrees to indemnify the Administrative Agent, the Agents , each L/C Issuer, each Lender, each of their respective Affiliates
and each of their respective directors, partners, officers, employees, agents, trustees and advisors (each such Person being called an “Indemnitee”) against, and to hold each Indemnitee harmless from, any and all losses, claims,
damages, liabilities and related expenses, including reasonable counsel fees, charges and disbursements (limited to not more than one counsel, plus, if necessary, one local counsel per material jurisdiction) (except the allocated costs of in-house
counsel), incurred by or asserted against any Indemnitee arising out of, in any way connected with, or as a result of (i) the execution or delivery of this Agreement or any other Loan Document, or any agreement or instrument contemplated hereby
or thereby, the performance by the parties hereto and thereto of their respective obligations thereunder or the consummation of or otherwise relating to the Transactions and the other transactions contemplated hereby, (ii) the use of the
proceeds of the Loans or the use of any Letter of Credit, or (iii) any claim, litigation, investigation or proceeding relating to any of the foregoing, whether or not any Indemnitee is a party thereto and regardless of whether such matter is
initiated by a third party or by the Borrower or any of its Subsidiaries or Affiliates; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related
expenses are determined by a final, non-appealable judgment of a court of competent jurisdiction to have resulted from (1) the gross negligence, bad faith, or willful misconduct of such Indemnitee (for purposes this proviso only, each of the
Administrative Agent, any L/C Issuer or any Lender shall be treated as several and separate Indemnitees, but each of them together with its respective Related Parties, shall be treated as a single Indemnitee), (2) any material breach of any
Loan Document by such Indemnitee or any of its Related Parties (other than by Wilmington Trust, National Association, in its capacity as Administrative Agent, Collateral Agent and/or Security Trustee), or (3) any claim, actions, suits,
inquiries, litigation, investigation or proceeding that does not involve an act or omission of the Borrower or any of its Affiliates and is brought by an Indemnitee against another Indemnitee (other than any claim, actions, suits, inquiries,
litigation, investigation or proceeding against any Agent in its capacity as such). Subject to and without limiting the generality of the foregoing sentence, the Borrower agrees to indemnify each Indemnitee against, and hold each Indemnitee harmless
from, any and all losses, claims, damages, liabilities and 

  
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related expenses, including reasonable counsel or consultant fees, charges and disbursements (limited to not more than one counsel, plus, if necessary, one local counsel per jurisdiction) (except
the allocated costs of in-house counsel), incurred by or asserted against any Indemnitee arising out of, in any way connected with, or as a result of (A) any claim or liability related in any way to Environmental Laws of the Borrower or any of
the Subsidiaries or (B) any actual or alleged presence, Release or threatened Release of Hazardous Materials at, under, on, from or to any Real Property; provided, that such indemnity shall not, as to any Indemnitee, be available to the
extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from (1) the bad faith, gross negligence or willful misconduct of
such Indemnitee or any of its Related Parties, (2) any material breach of any Loan Document by such Indemnitee (other than by Wilmington Trust, National Association, in its capacity as Administrative Agent, Collateral Agent and/or Security
Trustee), or (3) any claim, actions, suits, inquiries, litigation, investigation or proceeding that does not involve an act or omission of the Borrower or any of its Affiliates and is brought by an Indemnitee against another Indemnitee (other
than any claim, actions, suits, inquiries, litigation, investigation or proceeding against any Agent in its capacity as such). None of the Indemnitees (or any of their respective Affiliates) shall be responsible or liable to the Borrower or any of
their respective subsidiaries, Affiliates or stockholders or any other Person or entity for any special, indirect, consequential or punitive damages, which may be alleged as a result of the Facilities or the Transactions. The provisions of this
Section 9.05 shall remain operative and in full force and effect regardless of the expiration of the term of this Agreement, the consummation of the transactions contemplated hereby, the repayment of any of the Obligations, the
invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Administrative Agent, any L/C Issuer or any Lender. All amounts due under this
Section 9.05 shall be payable within fifteen (15) days of written demand therefor accompanied by reasonable documentation with respect to any reimbursement, indemnification or other amount requested. 

(c) Except as expressly provided in Section 9.05(a) with respect to Other Taxes, which shall not be duplicative of any amounts
paid pursuant to Section 2.17, this Section 9.05 shall not apply to Taxes, except Taxes that represent damages or losses resulting from a non-Tax claim. 

(d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on
any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument
contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee shall be liable for any damages arising from the use by unintended recipients of any information or
other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby. 

(e) The agreements in this Section 9.05 shall survive the resignation of the Administrative Agent, any L/C Issuer, the replacement
of any Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all the other Obligations and the termination of this Agreement. 

  
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 Section 9.06 Right of Set-off. If an Event of Default shall have occurred and be
continuing, each Lender and each L/C Issuer is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) (other
than any Excluded Accounts) at any time held and other indebtedness at any time owing by such Lender or such L/C Issuer to or for the credit or the account of the Borrower or any Subsidiary against any of and all the obligations of the Borrower now
or hereafter existing under this Agreement or any other Loan Document held by such Lender or such L/C Issuer, irrespective of whether or not such Lender or such L/C Issuer shall have made any demand under this Agreement or such other Loan Document
and although the obligations may be unmatured; provided, that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further
application in accordance with the provisions of Section 2.22 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the
Lenders and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of
each Lender and each L/C Issuer under this Section 9.06 are in addition to other rights and remedies (including other rights of set-off) that such Lender or such L/C Issuer may have. 

Section 9.07 Applicable Law. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN AS EXPRESSLY SET FORTH IN OTHER LOAN
DOCUMENTS) SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 Section 9.08 Waivers;
Amendment. 
 (a) No failure or delay of the Administrative Agent, any L/C Issuer or any Lender in exercising any right or power
hereunder or under any Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or
further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, each L/C Issuer and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any
rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or any other Loan Document or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by
clause (b) below, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice or demand on any Loan Party in any case shall entitle such Person to any other or further notice
or demand in similar or other circumstances. 
 (b) Neither this Agreement nor any other Loan Document nor any provision hereof or thereof
may be waived, amended or modified except (x) as provided in Section 2.21, (y) in the case of this Agreement, pursuant to one or more agreements in writing entered into by the 

  
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Borrower and the Administrative Agent (and consented to in writing by the Required Lenders), and (z) in the case of any other Loan Document, pursuant to one or more agreements in writing
entered into by each party thereto and consented to in writing by the Required Lenders; provided, however, that no such agreement shall: 

(i) decrease or forgive the principal amount of, or extend the final maturity of, or decrease the rate of interest on, any Loan
or any L/C Obligation, or extend the stated expiration of any Letter of Credit beyond the applicable Revolving Facility Maturity Date (except as provided in Section 2.05(b)), without the prior written consent of each Lender directly and
adversely affected thereby (which, notwithstanding the foregoing, such consent of each such Lender directly and adversely affected thereby shall be the only consent required hereunder to make such modification); provided, that any amendment
to the financial covenant definitions in this Agreement shall not constitute a reduction in the rate of interest for purposes of this clause (i); provided, further, that waivers or modifications of conditions precedent, covenants,
Defaults or Events of Default shall not constitute a decrease, forgiveness or extension of the Commitments of any Lender), 

(ii) increase or extend the Commitment of any Lender or decrease the Commitment Fees or L/C Participation Fees or other fees of
any Lender without the prior written consent of such Lender (which, notwithstanding the foregoing, such consent of each such Lender shall be the only consent required hereunder to make such modification); provided, that waivers or
modifications of conditions precedent, covenants, Defaults or Events of Default shall not constitute an increase of the Commitments of any Lender), 

(iii) extend or waive any Term Loan Installment Date or reduce the amount due on any Term Loan Installment Date or extend any
scheduled date on which payment of interest on any Loan or any L/C Obligation or any Fees is due, without the prior written consent of each Lender directly and adversely affected thereby (which, notwithstanding the foregoing, such consent of each
such Lender directly adversely affected thereby shall be the only consent required hereunder to make such modification), 

(iv) amend the provisions of Section 5.02 of the Collateral Agreement, or any analogous provision of any other
Security Document or any other Loan Document (including this Agreement, in a manner that would by its terms alter the pro rata sharing of payments required thereby, without the prior written consent of each Lender directly and adversely affected
thereby (which, notwithstanding the foregoing, such consent of each such Lender directly adversely affected thereby shall be the only consent required hereunder to make such modification), 

(v) amend or modify the provisions of this Section 9.08 or the definition of the terms “Required
Lenders,” “Majority Lenders” or any other provision hereof reducing the percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the prior written
consent of each Lender adversely affected thereby (it being understood that, with the consent of the Required Lenders, additional extensions of credit pursuant to this Agreement may be included in the determination of the Required Lenders on
substantially the same basis as the Loans and Commitments are included on the Closing Date), 

  
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 (vi) release all or substantially all the Collateral or release all or
substantially all of the Subsidiary Loan Parties from their respective Guarantees under the Subsidiary Guarantee Agreement except as provided herein or in the other Loan Documents, without the prior written consent of each Lender; and 

(vii) amend, waive or otherwise modify any term or provision of Sections 6.12, 7.01 (solely as it relates to
Section 6.12) or the definition of “Senior Secured Leverage Ratio” (or any of its component definitions (as used in such Section 6.12 but not as used in other Sections (or for any other purposes) of this Agreement))
without the written consent of the Required Revolving Lenders; 
 provided, further, that no such amendment shall amend, modify or otherwise
adversely affect the rights or duties of the Administrative Agent, Swingline Lender or an L/C Issuer hereunder without the prior written consent of the Administrative Agent, Swingline Lender or such L/C Issuer acting as such at the effective date of
such amendment, as applicable. Each Lender shall be bound by any waiver, amendment or modification authorized by this Section 9.08 and any consent by any Lender pursuant to this Section 9.08 shall bind any successor or
assignee of such Lender. 
 (c) Without the consent of any Lender or L/C Issuer, the Loan Parties and the Administrative Agent or Collateral
Agent may (in their respective sole discretion, or shall, to the extent required by any Loan Document) enter into any amendment, modification or waiver of any Loan Document, or enter into any new agreement or instrument, to effect the granting,
perfection, protection, expansion or enhancement of any security interest in any Collateral or additional property to become Collateral for the benefit of the Secured Parties, or as required by local law to give effect to, or protect any security
interest for the benefit of the Secured Parties, in any property or so that the security interests therein comply with applicable law or this Agreement or in each case to otherwise enhance the rights or benefits of any Lender under any Loan
Document. 
 (d) Notwithstanding the foregoing, this Agreement may be amended (or amended and restated) with the written consent of the
Required Lenders, the Administrative Agent and the Borrower (a) to add one or more additional credit facilities to this Agreement and to permit the extensions of credit from time to time outstanding thereunder and the accrued interest and fees
in respect thereof to share ratably in the benefits of this Agreement and the other Loan Documents with the Term Loans and the Revolving Facility Loans and the accrued interest and fees in respect thereof, in each case to the extent such additional
credit facility and Indebtedness is permitted hereunder, and (b) to include appropriately the Lenders holding such credit facilities in any determination of the Required Lenders. 

(e) Notwithstanding the foregoing, technical and conforming modifications to the Loan Documents may be made with the consent of the Borrower
and the Administrative Agent (but without the consent of any Lender) to the extent necessary (A) to integrate any Incremental Term Loan Commitments or Incremental Revolving Facility Commitments in a manner

  
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consistent with Section 2.21, including, with respect to Revolving Loans or Other Term Loans, as may be necessary to establish such Incremental Term Loan Commitments or Revolving
Facility Loans, as a separate Class or tranche from the existing Term Loan Commitments or Incremental Revolving Facility Commitments, as applicable or (B) to cure any ambiguity, omission, error, defect or inconsistency. 

(f) Each of the parties hereto hereby agrees that the Administrative Agent may take any and all action as may be necessary to ensure that all
Term Loans established pursuant to Section 2.21 after the Closing Date that will be included in an existing Class of Term Loans outstanding on such date (an “Applicable Date”), when originally made, are included in each
Borrowing of outstanding Term Loans of such Class (the “Existing Class Loans”), on a pro rata basis, and/or to ensure that, immediately after giving effect to such new Term Loans (the “New Class Loans” and, together
with the Existing Class Loans, the “Class Loans”), each Lender holding Class Loans will be deemed to hold its Pro Rata Share of each Class Loan on the Applicable Date (but without changing the amount of any such Lender’s Term
Loans), and each such Lender shall be deemed to have effectuated such assignments as shall be required to ensure the foregoing. The “Pro Rata Share” of any Lender on the Applicable Date is the ratio of (1) the sum of such
Lender’s Existing Class Loans immediately prior to the Applicable Date plus the amount of New Class Loans made by such Lender on the Applicable Date over (2) the aggregate principal amount of all Class Loans on the Applicable Date. 

(g) With respect to the incurrence of any secured or unsecured Indebtedness (including any intercreditor agreement relating thereto), the
Borrower may elect (in its discretion, but shall not be obligated) to deliver to the Administrative Agent a certificate of a Responsible Officer at least three Business Days prior to the incurrence thereof (or such shorter time as the Administrative
Agent may agree), together with either drafts of the material documentation relating to such Indebtedness or a description of such Indebtedness (including a description of the Liens intended to secure the same or the subordination provisions
thereof, as applicable) in reasonably sufficient detail to be able to make the determinations referred to in this paragraph, which certificate shall either, at the Borrower’s election, (x) state that the Borrower has determined in good
faith that such Indebtedness satisfies the requirements of the applicable provisions of Sections 6.01 and 6.02 (taking into account any other applicable provisions of this Section 9.08), in which case such certificate shall
be conclusive evidence thereof or (y) request the Administrative Agent to confirm, based on the information set forth in such certificate and any other information reasonably requested by the Administrative Agent, that such Indebtedness
satisfies such requirements, in which case the Administrative Agent may determine whether, in its reasonable judgment, such requirements have been satisfied (in which case it shall deliver to the Borrower a written confirmation of the same), with
any such determination of the Administrative Agent to be conclusive evidence thereof, and the Lenders hereby authorize the Administrative Agent to make such determinations. 

Section 9.09 Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the applicable interest
rate, together with all fees and charges that are treated as interest under applicable law (collectively, the “Charges”), as provided for herein or in any other document executed in connection herewith, or otherwise contracted for,
charged, received, taken or reserved by any Lender or any L/C Issuer, shall exceed the maximum lawful rate (the “Maximum Rate”) that may be contracted for, charged, taken, received or reserved by 

  
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such Lender in accordance with applicable law, the rate of interest payable hereunder, together with all Charges payable to such Lender or such L/C Issuer, shall be limited to the Maximum Rate;
provided, that such excess amount shall be paid to such Lender or such L/C Issuer on subsequent payment dates to the extent not exceeding the legal limitation. 

Section 9.10 Entire Agreement. This Agreement, the other Loan Documents and the agreements regarding certain Fees referred to
herein constitute the entire contract between the parties relative to the subject matter hereof. Any previous agreement among or representations from the parties or their Affiliates with respect to the subject matter hereof is superseded by this
Agreement and the other Loan Documents. Nothing in this Agreement or in the other Loan Documents, expressed or implied, is intended to confer upon any party other than the parties hereto and thereto any rights, remedies, obligations or liabilities
under or by reason of this Agreement or the other Loan Documents. 
 Section 9.11 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS.
EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.11. 

Section 9.12 Severability. In the event any one or more of the provisions contained in this Agreement or in any other Loan
Document should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The parties shall
endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

Section 9.13 Counterparts. This Agreement may be executed in two or more counterparts, each of which shall constitute an original
but all of which, when taken together, shall constitute but one contract, and shall become effective as provided in Section 9.03. Delivery of an executed counterpart to this Agreement by facsimile transmission (or other electronic
transmission pursuant to procedures approved by the Administrative Agent) shall be as effective as delivery of a manually signed original. 

Section 9.14 Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only,
are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

  
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 Section 9.15 Jurisdiction; Consent to Service of Process. 

(a) Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of
any New York State court or federal court of the United States of America sitting in New York City, and any appellate court from any thereof (collectively, “New York Courts”), in any action or proceeding arising out of or relating
to this Agreement or the other Loan Documents, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard
and determined in such New York State or, to the extent permitted by law, in such federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions
by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that any party may otherwise have to bring any action or proceeding relating to this Agreement or any of the other Loan Documents in the
courts of any jurisdiction, except that each of the Loan Parties agrees that (a) it will not bring any such action or proceeding in any court other than New York Courts (it being acknowledged and agreed by the parties hereto that any other
forum would be inconvenient and inappropriate in view of the fact that more of the Lenders who would be affected by any such action or proceeding have contacts with the State of New York than any other jurisdiction) and (b) in any such action
or proceeding brought against any Loan Party in any other court, it will not assert any cross-claim, counterclaim or setoff, or seek any other affirmative relief, except to the extent that the failure to assert the same will preclude such Loan Party
from asserting or seeking the same in the New York Courts. 
 (b) Each of the parties hereto hereby irrevocably and unconditionally waives,
to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or the other Loan Documents in any New
York State or federal court. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(c) Each party hereto irrevocably consents to service of process in the manner provided for notices in Section 9.01. Nothing in
this Agreement will affect the right of any party hereto to serve process in any other manner permitted by applicable law. 

Section 9.16 Confidentiality. Each of the Lenders, each L/C Issuer and each of the Agents agrees that it shall maintain in
confidence any information relating to the Borrower and any Subsidiary furnished to it by or on behalf of the Borrower or any Subsidiary (other than information that (a) has become available to the public other than as a result of a disclosure
by such party in breach of this Section 9.16 or other confidentiality obligations owed to the Borrower or any Subsidiary, (b) has been independently developed by such Lender, such L/C Issuer or such Agent without violating this
Section 9.16 or other confidentiality obligations owed to the Borrower or any Subsidiary, or (c) was or becomes available to such Lender, such L/C Issuer or such Agent from a third party which, to such Person’s knowledge, had
not breached an obligation of confidentiality to the Borrower or any Loan Party) and shall not reveal the same other than to its Affiliates, directors, trustees, officers, employees and advisors with a need to know or to any Person that approves or
administers the Loans on behalf of such Lender (so long as each such Person shall have been instructed to keep the same confidential and such Lender shall be responsible for the compliance of such Person with this Section 9.16), except:
(A) to the 

  
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extent necessary to comply with law or any legal process or the requirements of any Governmental Authority, the National Association of Insurance Commissioners or of any securities exchange on
which securities of the disclosing party or any Affiliate of the disclosing party are listed or traded, (B) as part of normal reporting or review procedures to, or examinations by, Governmental Authorities or self-regulatory authorities,
including the National Association of Insurance Commissioners or the National Association of Securities Dealers, Inc., (C) in order to enforce its rights under any Loan Document in a legal proceeding, (D) to any pledgee under
Section 9.04(d) or any other prospective assignee of, or prospective Participant in, any of its rights under this Agreement (and so long as such Person shall have been instructed to keep the same confidential in accordance with this
Section 9.16 or terms substantially similar to this Section), and (E) to any direct or indirect contractual counterparty in Swap Agreements. or such contractual counterparty’s professional advisor (so long as such contractual
counterparty or professional advisor to such contractual counterparty agrees to be bound by the provisions of this Section 9.16 or terms substantially similar to this Section). 

Section 9.17 Platform; Borrower Materials. The Borrower hereby acknowledges that (a) the Administrative Agent will make
available to the Lenders and the L/C Issuer materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on the Platform and (b) certain
of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to the Borrower or its securities) (each, a “Public Lender”). The Borrower hereby agrees
that it will use commercially reasonable efforts to identify that portion of the Borrower Materials that may be distributed to the Public Lenders and that (i) all such Borrower Materials shall be clearly and conspicuously marked
“PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof, (ii) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the
Administrative Agent, the L/C Issuer and the Lenders to treat such Borrower Materials as either publicly available information or not material information (although it may be sensitive and proprietary) with respect to the Borrower or its securities
for purposes of United States Federal and state securities laws (provided, however, that such Borrower Materials shall be treated as set forth in Section 9.16, to the extent such Borrower Materials constitute information subject to the
terms thereof), (iii) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Investor” and (iv) the Administrative Agent shall be entitled to treat
any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Investor.”; provided, that, notwithstanding the foregoing, each Loan Document
shall, automatically and without requiring any action by the Borrower or any other Person, be deemed to be “PUBLIC” and may be provided to Public Lenders in the same manner as documents marked “PUBLIC”, whether or not such Loan
Document is marked or bears the word “PUBLIC” as described in this Section 9.17. 
 THE PLATFORM IS PROVIDED “AS
IS” AND “AS AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS, ANY COMMUNICATIONS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR
OMISSIONS FROM THE BORROWER MATERIALS OR ANY COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR 

  
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A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS, ANY
COMMUNICATIONS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any Lender, the L/C Issuer or any other Person for
losses, claims, damages, liabilities or expenses of any kind, including direct or indirect, special, incidental or consequential damages, losses or expenses (whether in tort, contract or otherwise) arising out of the Borrower’s or the
Administrative Agent’s transmission of Borrower Materials or any Communications through the Internet and/or the Platform, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent
jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; provided, however, that in no event shall any Agent Party have any liability to the Borrower, any
Lender, the L/C Issuer or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages). 

Section 9.18 Release of Liens, Guarantees and Pledges. 

(a) The Lenders, the L/C Issuer and other Secured Parties hereby irrevocably agree that the Liens granted to the Collateral Agent and the
Security Trustee by the Loan Parties on any Collateral shall be automatically released: (i) in full upon the occurrence of the Termination Date as set forth in Section 9.18(d) below; (ii) upon the disposition of such Collateral
by any Loan Party to a Person that is not (and is not required to become) a Loan Party in a transaction not prohibited by this Agreement (and the Collateral Agent may rely conclusively on a certificate to that effect provided to it by any Loan Party
upon its reasonable request without further inquiry), (iii) to the extent that such Collateral comprises property leased to a Loan Party by a Person that is not a Loan Party, upon termination or expiration of such lease (and the Collateral
Agent may rely conclusively on a certificate to that effect provided to it by any Loan Party upon its reasonable request without further inquiry), (iv) if the release of such Lien is approved, authorized or ratified in writing by the Required
Lenders (or such other percentage of the Lenders whose consent may be required in accordance with Section 9.08), (v) to the extent that the property constituting such Collateral is owned by any Guarantor, upon the release of such
Guarantor from its obligations under the Guarantee in accordance with the Subsidiary Guarantee Agreement or clause (b) below (and the Collateral Agent may rely conclusively on a certificate to that effect provided to it by any Loan Party upon
its reasonable request without further inquiry), and (vi) as required by the Collateral Agent to effect any Disposition of Collateral in connection with any exercise of remedies of the Collateral Agent pursuant to the Security Documents. Any
such release shall not in any manner discharge, affect, or impair the Obligations or any Liens (other than those being released) upon (or obligations (other than those being released) of the Loan Parties in respect of) all interests retained by the
Loan Parties, including the proceeds of any Disposition, all of which shall continue to constitute part of the Collateral except to the extent otherwise released in accordance with the provisions of the Loan Documents. 

  
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 (b) In addition, the Lenders, the L/C Issuer and other Secured Parties hereby irrevocably agree
that the Subsidiary Loan Parties shall be automatically released from the Guarantees upon consummation of any transaction not prohibited hereunder resulting in such Subsidiary ceasing to constitute a Subsidiary Loan Party or otherwise becoming an
Excluded Subsidiary (and the Collateral Agent may rely conclusively on a certificate to that effect provided to it by any Loan Party upon its reasonable request without further inquiry). 

(c) The Lenders, the L/C Issuer and other Secured Parties hereby authorize the Administrative Agent and the Collateral Agent, as applicable,
to execute and deliver any instruments, documents, and agreements necessary or desirable to evidence and confirm the release of any Subsidiary Loan Party or Collateral pursuant to the foregoing provisions of this Section 9.18, all
without the further consent or joinder of any Lender. Upon release pursuant to this Section 9.18, any representation, warranty or covenant contained in any Loan Document relating to any such Collateral or Guarantor shall no longer be
deemed to be made. In connection with any release hereunder, the Administrative Agent and the Collateral Agent shall promptly (and the Secured Parties hereby authorize the Administrative Agent and the Collateral Agent to) take such action and
execute any such documents as may be reasonably requested by the Borrower and at the Borrower’s expense in connection with the release of any Liens created by any Loan Document in respect of such Subsidiary, property or asset; provided,
that the Administrative Agent shall have received a certificate of a Responsible Officer of the Borrower containing such certifications as the Administrative Agent shall reasonably request. 

(d) Notwithstanding anything to the contrary contained herein or any other Loan Document, on the Termination Date, upon request of the
Borrower, the Administrative Agent and/or the Collateral Agent, as applicable, shall (without notice to, or vote or consent of, any Secured Party) take such actions as shall be required to release its security interest in all Collateral, and to
release all obligations under any Loan Document, whether or not on the date of such release there may be any (i) obligations in respect of any Secured Swap Agreements or any Secured Cash Management Agreements and (ii) any contingent
indemnification obligations or expense reimburse claims not then due. Any such release of obligations shall be deemed subject to the provision that such obligations shall be reinstated if after such release any portion of any payment in respect of
the obligations guaranteed thereby shall be rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Borrower or any Guarantor, or upon or as a result of the appointment
of a receiver, intervenor or conservator of, or trustee or similar officer for, the Borrower or any Guarantor or any substantial part of its property, or otherwise, all as though such payment had not been made. The Borrower agrees to pay all
reasonable and documented out-of-pocket expenses incurred by the Administrative Agent or the Collateral Agent (and their respective representatives) in connection with taking such actions to release security interest in all Collateral and all
obligations under the Loan Documents as contemplated by this Section 9.18(d). 
 (e) Obligations of the Borrower or any of its
Subsidiaries under any Secured Cash Management Agreement or Secured Swap Agreement (after giving effect to all netting arrangements relating to such Secured Swap Agreements) shall be secured and guaranteed pursuant to the Security Documents only to
the extent that, and for so long as, the other Obligations are so secured and guaranteed. No Person shall have any voting rights under any Loan Document solely as a result of the existence of obligations owed to it under any such Secured Swap
Agreement or Secured Cash Management Agreement. For the avoidance of doubt, no release of Collateral or Guarantors effected in the manner permitted by this Agreement shall require the consent of any holder of obligations under Secured Swap
Agreements or any Secured Cash Management Agreements. 

  
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 Section 9.19 Judgment Currency. If, for the purposes of obtaining judgment in any
court, it is necessary to convert a sum due hereunder or any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could
purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of the Borrower in respect of any such sum due from it to the Administrative Agent or the Lenders hereunder or
under the other Loan Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of this Agreement (the
“Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by the Administrative Agent of any sum adjudged to be so due in the Judgment Currency, the Administrative Agent may in accordance
with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative Agent from the Borrower in the Agreement
Currency, the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or the Person to whom such obligation was owing against such loss. If the amount of the Agreement Currency so
purchased is greater than the sum originally due to the Administrative Agent in such currency, the Administrative Agent agrees to return the amount of any excess to the Borrower (or to any other Person who may be entitled thereto under applicable
law). 
 Section 9.20 USA PATRIOT Act Notice. Each Lender that is subject to the USA PATRIOT Act and the Administrative Agent
(for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA Patriot Act, it is required to obtain, verify and record information that identifies each Loan Party, which information includes
the name and address of each Loan Party and other information that will allow such Lender or the Administrative Agent, as applicable, to identify each Loan Party in accordance with the USA PATRIOT Act. 

Section 9.21 No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby, the
Borrower acknowledges and agrees that: (i) the credit facilities provided for hereunder and any related arranging or other services in connection therewith (including in connection with any amendment, waiver or other modification hereof or of
any other Loan Document) are an arm’s-length commercial transaction between the Loan Parties and their respective Affiliates, on the one hand, and the Agents and the Lenders, on the other hand, and the Loan Parties are capable of evaluating and
understanding and understand and accept the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents (including any amendment, waiver or other modification hereof or thereof), (ii) in connection with
the process leading to such transaction, each Agent and each Lender is and has been acting solely as a principal and is not the financial advisor, agent or fiduciary, for any Loan Party or any of their respective Affiliates, stockholders, creditors
or employees or any other Person, (iii) none of the Agents or any Lender has assumed or will assume an advisory, agency or fiduciary responsibility in favor of any Loan Party with respect to any of the transactions contemplated hereby or the
process leading thereto, including with 

  
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respect to any amendment, waiver or other modification hereof or of any other Loan Document (irrespective of whether any Agent or any Lender has advised or is currently advising the any Loan
Party or their respective Affiliates on other matters) and none of the Agents or any Lender has any obligation to any of the Loan Parties or their respective Affiliates with respect to the transactions contemplated hereby except those obligations
expressly set forth herein and in the other Loan Documents, (iv) the Agents the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Loan Parties and their
respective Affiliates, and none of the Agents or any Lender has any obligation to disclose any of such interests by virtue of any advisory, agency or fiduciary relationship, and (v) the Agents and the Lenders have not provided and will not
provide any legal, accounting, regulatory or tax advice with respect to any of the transactions contemplated hereby(including any amendment, waiver or other modification hereof or of any other Loan Document) and the Loan Parties have consulted their
own legal, accounting, regulatory and tax advisors to the extent they deemed appropriate. The Borrower hereby waives and releases, to the fullest extent permitted by law, any claims that it may have against the Agents and the Lenders with respect to
any breach or alleged breach of agency or fiduciary duty. 
 Section 9.22 Application of Gaming Laws. 

(a) This Agreement and the other Loan Documents are subject to Gaming Laws and Liquor Laws. Without limiting the foregoing and notwithstanding
anything herein or in any other Loan Document to the contrary, the Lenders, Agents and Secured Parties acknowledge that (i) they are subject to the jurisdiction of the Gaming Authorities and Liquor Authorities, in their discretion, for
licensing, qualification or findings of suitability or to file or provide other information and (ii) (x) the consummation of the Transactions and (y) all rights, remedies and powers in or under this Agreement and the other Loan
Documents, including with respect to the Collateral (including the pledge and delivery of the Pledged Collateral), the Mortgaged Properties and the ownership and operation of facilities are, in each case, subject to the jurisdiction of the Gaming
Authorities and Liquor Authorities, and may be exercised only to the extent that the exercise thereof does not violate any applicable provisions of the Gaming Laws and Liquor Laws and only to the extent that required approvals (including prior
approvals) are obtained from the relevant Gaming Authorities and Liquor Authorities. 
 (b) Lenders, Agents and Secured Parties agree to
cooperate with all Gaming Authorities and Liquor Authorities in connection with the provision in a timely manner of such documents or other information as may be requested by such Gaming Authorities and Liquor Authorities relating to the Loan or
Loan Documents. 
 (c) Lenders acknowledge and agree that if any Loan Party receives a notice from any applicable Gaming Authority that any
Lender is a disqualified holder (and such Lender is notified by the Borrower in writing of such disqualification), the Borrower shall, following any available appeal of such determination by such Gaming Authority (unless the rules of the applicable
Gaming Authority do not permit such Lender to retain its Loans or Commitments pending appeal of such determination), have the right to (i) cause such disqualified holder to transfer and assign, without recourse all of its interests, rights and
obligations in its Loans and Commitments or (ii) in the event that (A) the Borrower is unable to assign such Loan after using its best efforts to cause such an assignment and (B) no Default or Event of Default has occurred

  
 212 

 
and is continuing, prepay such disqualified holder’s Loan. Notice to such disqualified holder shall be given ten days prior to the required date of assignment or prepayment, as the case may
be, and shall be accompanied by evidence demonstrating that such transfer or prepayment is required pursuant to Gaming Laws. If reasonably requested by any disqualified holder, the Borrower will use commercially reasonable efforts to cooperate with
any such holder that is seeking to appeal such determination and to afford such holder an opportunity to participate in any proceedings relating thereto. Notwithstanding anything herein to the contrary, any prepayment of a Loan shall be at a price
that, unless otherwise directed by a Gaming Authority, shall be equal to the sum of the principal amount of such Loan and interest to the date such Lender or holder became a disqualified holder (plus any fees and other amounts accrued for the
account of such disqualified holder to the date such Lender or holder became a disqualified holder). 
 (d) If during the existence of an
Event of Default hereunder or any of the other Loan Documents it shall become necessary or, in the opinion of the Administrative Agent, advisable for an agent, supervisor, receiver or other representative of the Lenders to become licensed or found
qualified under any Gaming Law as a condition to receiving the benefit of any Collateral encumbered by the Loan Documents or to otherwise enforce the rights of the Agents, Secured Parties and the Lenders under the Loan Documents, the Borrower hereby
agrees to consent to the application for such license or qualification and to execute such further documents as may be required in connection with the evidencing of such consent. 

Section 9.23 Vessels and Admiralty Related Matters. 

Notwithstanding anything set forth in this Agreement, the Collateral Agreement, the Mortgages, the Ship Mortgages or any other Loan Document,
the Agents, the Lenders and the other Secured Parties acknowledge the uncertain nature in which a security interest may be taken in any Vessel or any improvements to Real Property or related assets which are used in connection with any dockside,
riverboat, or water-based venue that are intended to be Collateral hereunder (collectively, “Vessel Related Collateral”) and in the enforceability of any security interest in Vessel Related Collateral under the Ship Mortgage Act,
the real property laws of any applicable jurisdiction, the Uniform Commercial Code, any and all applicable case law and any other applicable laws (the “Vessel Applicable Laws”). In order to grant the Collateral Agent a Lien for the
benefit of the Secured Parties in all Vessel Related Collateral to the fullest extent permitted by applicable law, the Borrower and the Subsidiary Loan Parties have agreed to grant Liens and security interests in the Vessel Related Collateral to the
Collateral Agent for the benefit of the Secured Parties under various types of Security Documents, including the Mortgages, the Collateral Agreement and the Ship Mortgages, notwithstanding such uncertainty. Accordingly, the Agents, the Lenders and
the other Secured Parties acknowledge and agree that, notwithstanding any representations, warranties, covenants, further assurances, events of default or any other provisions of this Agreement, the Collateral Agreement, the Mortgages, the Ship
Mortgages or any other Loan Document, any Loan Document that is unenforceable with respect to any Vessel Related Collateral, any element of the Collateral Requirement relating to the creation or perfection of a Lien or security interest that is not
satisfied with respect to Vessel Related Collateral, or any failure of any Vessel Related Collateral to be secured by a Lien or security interest under any Loan Document, in each case solely as a result of Vessel Applicable Laws relating to the
nature or circumstances in which a security interest may be taken in any 

  
 213 

 
Vessel Related Collateral and the enforceability thereof (or the failure of the Borrower or any Loan Party to take any action that is not possible under such Vessel Applicable Laws) shall not
result in a breach of any such representations, warranties, covenants or further assurances or result in any Event of Default. 

Section 9.24 Affiliate Lenders. 

(a) Each Lender who is an Affiliate of the Borrower (an “Affiliate Lender”), in connection with any (i) consent (or
decision not to consent) to any amendment, modification, waiver, consent or other action with respect to any of the terms of any Loan Document, (ii) other action on any matter related to any Loan Document, or (iii) direction to the
Administrative Agent, Collateral Agent or any Lender to undertake any action (or refrain from taking any action) with respect to or under any Loan Document, agrees that, except with respect to any amendment, modification, waiver, consent or other
action (1) described in clauses (i), (ii), or (iii) of the first proviso of Section 9.08(b) or (2) that adversely affects such Affiliate Lender (in its capacity as a Lender) in a disproportionately adverse manner as
compared to other Lenders, such Affiliate Lender shall be deemed to have voted its interest as a Lender without discretion in such proportion as the allocation of voting with respect to such matter by Lenders who are not Affiliate Lenders. Each
Affiliate Lender hereby irrevocably appoints the Administrative Agent (such appointment being coupled with an interest) as such Affiliate Lender’s attorney-in-fact, with full authority in the place and stead of such Affiliate Lender and in the
name of such Affiliate Lender, from time to time in the Administrative Agent’s discretion to take any action and to execute any instrument that the Administrative Agent may deem reasonably necessary to carry out the provisions of this clause
(a). 
 (b) Notwithstanding anything to the contrary in this Agreement, no Affiliate Lender shall have any right to (i) attend
(including by telephone) any meeting or discussions (or portion thereof) among the Administrative Agent or any Lender to which representatives of the Borrower are not then present, (ii) receive any information or material prepared by
Administrative Agent or any Lender or any communication by or among Administrative Agent and/or one or more Lenders, except to the extent such information or materials have been made available to the Borrower or its representatives, or
(iii) make or bring (or participate in, other than as a passive participant in or recipient of its pro rata benefits of) any claim, in its capacity as a Lender, against Administrative Agent, the Collateral Agent or any other Lender with respect
to any duties or obligations or alleged duties or obligations of such Agent or any other such Lender under the Loan Documents. 

Section 9.25 Acknowledgement and Consent to Bail-In of EEA Financial Institutions. 

Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties,
each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and
agrees and consents to, and acknowledges and agrees to be bound by: 
 (a) the application of any Write-Down and Conversion Powers by an EEA
Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 

  
 214 

 (b) the effects of any Bail-in Action on any such liability, including, if applicable: 

(i) a reduction in full or in part or cancellation of any such liability; 

(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial
Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such
liability under this Agreement or any other Loan Document; or 
 (iii) the variation of the terms of such liability in
connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority. 
 [Remainder of Page Intentionally
Left Blank] 

  
 215 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective authorized officers as of the day and year first written above. 
  

			
	VICI PROPERTIES 1 LLC,
	 as the Borrower 

 
			
	By:	 	  

	Name:	 	
	Title:	 	

 [Signature Page to the First Lien Credit Agreement] 

 
			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Administrative Agent

 
			
		
	By:	 	 
	Name:	 	
	Title:	 	

 [Signature Page to the First Lien Credit Agreement] 

 
			
	[LENDERS],
	as a Lender

 
			
		
	By:	 	 
	Name:	 	
	Title:	 	

 [Signature Page to the First Lien Credit Agreement]EX-10.8

 Exhibit 10.8 
  

LEASE (NON-CPLV) 

By and Among 
 The
Entities Listed on Schedule A 
 (collectively, and together with their respective permitted successors and assigns) 

as “Landlord” 

and 
 CEOC, LLC and the
Entities Listed on Schedule B 
 (collectively, and together with their respective permitted successors and assigns) 

as “Tenant” 

dated 
 October 2,
2017 
 for 
 The
Properties Listed on Exhibit A 

 TABLE OF CONTENTS 

 

									
	 	 	 	    	 	  	Page	 
	 ARTICLE I DEMISE; TERM
	  	 	1	 
		 	1.1	    	Leased Property	  	 	1	 
		 	1.2	    	Single, Indivisible Lease	  	 	3	 
		 	1.3	    	Term	  	 	4	 
		 	1.4	    	Renewal Terms	  	 	4	 
		 	1.5	    	Maximum Fixed Rent Term	  	 	4	 
		
	 ARTICLE II DEFINITIONS
	  	 	5	 
		
	 ARTICLE III RENT
	  	 	50	 
		 	3.1	    	Payment of Rent	  	 	50	 
		 	3.2	    	Variable Rent Determination	  	 	51	 
		 	3.3	    	Late Payment of Rent or Additional Charges	  	 	53	 
		 	3.4	    	Method of Payment of Rent	  	 	53	 
		 	3.5	    	Net Lease	  	 	54	 
		
	 ARTICLE IV ADDITIONAL CHARGES
	  	 	54	 
		 	4.1	    	Impositions	  	 	54	 
		 	4.2	    	Utilities and Other Matters	  	 	56	 
		 	4.3	    	Compliance Certificate	  	 	56	 
		 	4.4	    	Impound Account	  	 	56	 
		
	 ARTICLE V NO TERMINATION, ABATEMENT, ETC.
	  	 	57	 
		
	 ARTICLE VI OWNERSHIP OF REAL AND PERSONAL PROPERTY
	  	 	57	 
		 	6.1	    	Ownership of the Leased Property	  	 	57	 
		 	6.2	    	Ownership of Tenant’s Property	  	 	59	 
		 	6.3	    	Landlord’s Security Interest in Tenant’s Pledged Property	  	 	60	 
		
	 ARTICLE VII PRESENT CONDITION & PERMITTED USE
	  	 	62	 
		 	7.1	    	Condition of the Leased Property	  	 	62	 
		 	7.2	    	Use of the Leased Property	  	 	63	 
		 	7.3	    	Ground Leases	  	 	65	 
		 	7.4	    	Third-Party Reports	  	 	68	 
		 	7.5	    	Operating Standard	  	 	68	 
		
	 ARTICLE VIII REPRESENTATIONS AND WARRANTIES
	  	 	68	 
		
	 ARTICLE IX MAINTENANCE AND REPAIR
	  	 	68	 
		 	9.1	    	Tenant Obligations	  	 	68	 
		 	9.2	    	No Landlord Obligations	  	 	69	 
		 	9.3	    	Landlord’s Estate	  	 	69	 
		 	9.4	    	End of Term	  	 	69	 

  
 i 

									
		
	 ARTICLE X ALTERATIONS
	  	 	70	 
		 	10.1	    	Alterations, Capital Improvements and Material Capital Improvements	  	 	70	 
		 	10.2	    	Landlord Approval of Certain Alterations and Capital Improvements	  	 	71	 
		 	10.3	    	Construction Requirements for Alterations and Capital Improvements	  	 	72	 
		 	10.4	    	Landlord’s Right of First Offer to Fund Material Capital Improvements	  	 	73	 
		 	10.5	    	Minimum Capital Expenditures	  	 	77	 
		
	 ARTICLE XI LIENS
	  	 	84	 
		
	 ARTICLE XII PERMITTED CONTESTS
	  	 	85	 
		
	 ARTICLE XIII INSURANCE
	  	 	86	 
		 	13.1	    	General Insurance Requirements	  	 	86	 
		 	13.2	    	Name of Insureds	  	 	89	 
		 	13.3	    	Deductibles of Self-Insured Retentions	  	 	89	 
		 	13.4	    	Waivers of Subrogation	  	 	90	 
		 	13.5	    	Limits of Liability and Blanket Policies	  	 	90	 
		 	13.6	    	Future Changes in Insurance Requirements	  	 	90	 
		 	13.7	    	Notice of Cancellation or Non-Renewal	  	 	91	 
		 	13.8	    	Copies of Documents	  	 	91	 
		 	13.9	    	Certificates of Insurance	  	 	92	 
		 	13.10	    	Other Requirements	  	 	92	 
		
	 ARTICLE XIV CASUALTY
	  	 	93	 
		 	14.1	    	Property Insurance Proceeds	  	 	93	 
		 	14.2	    	Tenant’s Obligations Following Casualty	  	 	94	 
		 	14.3	    	No Abatement of Rent	  	 	95	 
		 	14.4	    	Waiver	  	 	95	 
		 	14.5	    	Insurance Proceeds and Fee Mortgagee	  	 	95	 
		
	 ARTICLE XV EMINENT DOMAIN
	  	 	96	 
		 	15.1	    	Condemnation	  	 	96	 
		 	15.2	    	Award Distribution	  	 	97	 
		 	15.3	    	Temporary Taking	  	 	97	 
		 	15.4	    	Condemnation Awards and Fee Mortgagee	  	 	97	 
		
	 ARTICLE XVI DEFAULTS & REMEDIES
	  	 	97	 
		 	16.1	    	Tenant Events of Default	  	 	97	 
		 	16.2	    	Landlord Remedies	  	 	101	 
		 	16.3	    	Damages	  	 	102	 
		 	16.4	    	Receiver	  	 	103	 
		 	16.5	    	Waiver	  	 	103	 
		 	16.6	    	Application of Funds	  	 	103	 
		 	16.7	    	Landlord’s Right to Cure Tenant’s Default	  	 	103	 
		 	16.8	    	Miscellaneous	  	 	104	 
		
	 ARTICLE XVII TENANT FINANCING
	  	 	105	 

  
 ii 

									
		 	17.1	    	Permitted Leasehold Mortgagees	  	 	105	 
		 	17.2	    	Landlord Cooperation with Permitted Leasehold Mortgage	  	 	113	 
		
	 ARTICLE XVIII TRANSFERS BY LANDLORD
	  	 	113	 
		 	18.1	    	Transfers Generally	  	 	113	 
		 	18.2	    	Severance Leases	  	 	115	 
		 	18.3	    	Permitted Property Sales	  	 	116	 
		 	18.4	    	Transfers to Tenant Competitors	  	 	116	 
		
	 ARTICLE XIX HOLDING OVER
	  	 	118	 
		
	 ARTICLE XX RISK OF LOSS
	  	 	118	 
		
	 ARTICLE XXI INDEMNIFICATION
	  	 	118	 
		 	21.1	    	General Indemnification	  	 	118	 
		 	21.2	    	Encroachments, Restrictions, Mineral Leases, etc	  	 	120	 
		
	 ARTICLE XXII TRANSFERS BY TENANT
	  	 	122	 
		 	22.1	    	Subletting and Assignment	  	 	122	 
		 	22.2	    	Permitted Assignments and Transfers	  	 	122	 
		 	22.3	    	Permitted Sublease Agreements	  	 	126	 
		 	22.4	    	Required Subletting and Assignment Provisions	  	 	127	 
		 	22.5	    	Costs	  	 	128	 
		 	22.6	    	No Release of Tenant’s Obligations; Exception	  	 	129	 
		 	22.7	    	Bookings	  	 	129	 
		
	 ARTICLE XXIII REPORTING
	  	 	129	 
		 	23.1	    	Estoppel Certificates and Financial Statements	  	 	129	 
		 	23.2	    	SEC Filings; Offering Information	  	 	134	 
		 	23.3	    	Landlord Obligations	  	 	136	 
		
	 ARTICLE XXIV LANDLORD’S RIGHT TO INSPECT
	  	 	137	 
		
	 ARTICLE XXV NO WAIVER
	  	 	137	 
		
	 ARTICLE XXVI REMEDIES CUMULATIVE
	  	 	137	 
		
	 ARTICLE XXVII ACCEPTANCE OF SURRENDER
	  	 	138	 
		
	 ARTICLE XXVIII NO MERGER
	  	 	138	 
		
	 ARTICLE XXIX INTENTIONALLY OMITTED
	  	 	138	 
		
	 ARTICLE XXX QUIET ENJOYMENT
	  	 	138	 
		
	 ARTICLE XXXI LANDLORD FINANCING
	  	 	138	 
		 	31.1	    	Landlord’s Financing	  	 	138	 
		 	31.2	    	Attornment	  	 	140	 

  
 iii 

									
		 	31.3	    	Compliance with Fee Mortgagee Documents	  	 	140	 
		
	 ARTICLE XXXII ENVIRONMENTAL COMPLIANCE
	  	 	145	 
		 	32.1	    	Hazardous Substances	  	 	145	 
		 	32.2	    	Notices	  	 	145	 
		 	32.3	    	Remediation	  	 	145	 
		 	32.4	    	Indemnity	  	 	145	 
		 	32.5	    	Environmental Inspections	  	 	147	 
		
	 ARTICLE XXXIII MEMORANDUM OF LEASE
	  	 	147	 
		
	 ARTICLE XXXIV DISPUTE RESOLUTION
	  	 	148	 
		 	34.1	    	Expert Valuation Process	  	 	148	 
		 	34.2	    	Arbitration	  	 	150	 
		
	 ARTICLE XXXV NOTICES
	  	 	151	 
		
	 ARTICLE XXXVI END OF TERM SUCCESSOR ASSET TRANSFER
	  	 	152	 
		 	36.1	    	Transfer of Tenant’s Successor Assets and Operational Control of the Leased Property	  	 	152	 
		 	36.2	    	Transfer of Intellectual Property	  	 	153	 
		 	36.3	    	Determination of Successor Assets FMV	  	 	153	 
		 	36.4	    	Operation Transfer	  	 	153	 
		
	 ARTICLE XXXVII ATTORNEYS’ FEES
	  	 	154	 
		
	 ARTICLE XXXVIII BROKERS
	  	 	154	 
		
	 ARTICLE XXXIX ANTI-TERRORISM REPRESENTATIONS
	  	 	154	 
		
	 ARTICLE XL LANDLORD REIT PROTECTIONS
	  	 	155	 
		
	 ARTICLE XLI MISCELLANEOUS
	  	 	156	 
		 	41.1	    	Survival	  	 	156	 
		 	41.2	    	Severability	  	 	156	 
		 	41.3	    	Non-Recourse	  	 	156	 
		 	41.4	    	Successors and Assigns	  	 	157	 
		 	41.5	    	Governing Law	  	 	157	 
		 	41.6	    	Waiver of Trial by Jury	  	 	158	 
		 	41.7	    	Entire Agreement	  	 	158	 
		 	41.8	    	Headings	  	 	159	 
		 	41.9	    	Counterparts	  	 	159	 
		 	41.10	    	Interpretation	  	 	159	 
		 	41.11	    	Deemed Consent	  	 	159	 
		 	41.12	    	Further Assurances	  	 	160	 
		 	41.13	    	Gaming Regulations	  	 	160	 
		 	41.14	    	Certain Provisions of Nevada Law	  	 	161	 
		 	41.15	    	Certain Provisions of New Jersey Law	  	 	161	 

  
 iv 

									
		 	41.16	    	Savings Clause	  	 	163	 
		 	41.17	    	Integration with Other Documents	  	 	163	 
		 	41.18	    	Manager	  	 	164	 
		 	41.19	    	Non-Consented Lease Termination	  	 	164	 
		 	41.20	    	Certain Provisions of Louisiana Law	  	 	164	 
		 	41.21	    	Certain Provisions of Indiana Law	  	 	165	 
		 	41.22	    	Confidential Information	  	 	165	 
		 	41.23	    	Time of Essence	  	 	165	 
		 	41.24	    	Consents, Approvals and Notices	  	 	166	 
		 	41.25	    	No Release of Tenant or Guarantor	  	 	166	 
		 	41.26	    	Tenant and Landlord; Joint and Several	  	 	166	 

  
 v 

 EXHIBITS AND SCHEDULES 
  

							
	 EXHIBIT A
	  	 	—	 	  	 FACILITIES

	 EXHIBIT B
	  	 	—	 	  	 LEGAL DESCRIPTION OF LAND

	 EXHIBIT C
	  	 	—	 	  	 CAPITAL EXPENDITURES REPORT

	 EXHIBIT D
	  	 	—	 	  	FORM OF SCHEDULE CONTAINING ANY ADDITIONS TO OR RETIREMENTS OF ANY FIXED ASSETS CONSTITUTING LEASED PROPERTY
	 EXHIBIT E
	  	 	—	 	  	 GROUND LEASED PROPERTY

	 EXHIBIT F
	  	 	—	 	  	 LEGAL DESCRIPTION OF LAS VEGAS LAND ASSEMBLAGE

	 EXHIBIT G
	  	 	—	 	  	 FORM OF REIT COMPLIANCE CERTIFICATE

	 EXHIBIT H
	  	 	—	 	  	 PROPERTY-SPECIFIC IP

	 EXHIBIT I
	  	 	—	 	  	 FORM OF PACE REPORT

	 EXHIBIT J
	  	 	—	 	  	 DESCRIPTION OF TITLE POLICIES

	 EXHIBIT K
	  	 	—	 	  	 ADDITIONAL FEE MORTGAGEE REQUIREMENTS FOR EXISTING FEE MORTGAGE

			
	 SCHEDULE A
	  	 	—	 	  	 LANDLORD ENTITIES

	 SCHEDULE B
	  	 	—	 	  	 TENANT ENTITIES

	 SCHEDULE 1
	  	 	—	 	  	 GAMING LICENSES

	 SCHEDULE 2
	  	 	—	 	  	 GROUND LEASES

	 SCHEDULE 3
	  	 	—	 	  	 MAXIMUM FIXED RENT TERM

	 SCHEDULE 4
	  	 	—	 	  	 SPECIFIED SUBLEASES

	 SCHEDULE 5
	  	 	—	 	  	 RENT ALLOCATION

	 SCHEDULE 5-A
	  	 	—	 	  	 PROPERTY-SPECIFIC RENT ALLOCATION

	 SCHEDULE 6
	  	 	—	 	  	 LONDON CLUBS

	 SCHEDULE 7
	  	 	—	 	  	 PERMITTED PROPERTY SALES

  
 vi 

 LEASE (NON-CPLV) 

THIS LEASE (NON-CPLV) (this “Lease”) is entered into as of October 2, 2017, by
and among the entities listed on Schedule A attached hereto (collectively, and together with their respective successors and assigns, “Landlord”), and CEOC, LLC, a Delaware limited liability company, and the entities listed
on Schedule B attached hereto (individually or collectively as the context may require, and together with their respective successors and assigns, “Tenant”). 

RECITALS 
 A. Commencing on
January 15, 2015 and continuing thereafter, Caesars Entertainment Operating Company, Inc., a Delaware corporation, and certain of its direct and indirect subsidiaries (collectively, the “Debtors”) filed voluntary petitions for
relief under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the Northern District of Illinois (the “Bankruptcy Court”), jointly administered under Case
No. 15-01145, and the Bankruptcy Court has confirmed the “Debtors’ Third Amended Joint Plan of Reorganization Pursuant to Chapter 11 of the Bankruptcy Code” (as it may be altered, amended,
modified, or supplemented from time to time in accordance with the terms of Article X thereof, the “Bankruptcy Plan”). 

B. Pursuant to the Bankruptcy Plan, on the date hereof the Debtors transferred the Leased Property to Landlord, and Landlord hereby leases the
Leased Property to Tenant and Tenant hereby leases the Leased Property from Landlord, upon the terms set forth in this Lease. 
 C.
Immediately following the execution of this Lease, Caesars Entertainment Operating Company, Inc., a Delaware corporation, will merge into CEOC, LLC. 

D. Capitalized terms used in this Lease and not otherwise defined herein are defined in Article II hereof. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as
follows: 
 ARTICLE I 

DEMISE; TERM 
 1.1
Leased Property. Upon and subject to the terms and conditions hereinafter set forth, Landlord demises and leases to Tenant and Tenant accepts and leases from Landlord all of Landlord’s rights and interest in
and to the following (collectively, the “Leased Property”): 
 (a) the real property described in Exhibit B attached
hereto, together with any ownership interests in adjoining roadways, alleyways, strips, gores and the like appurtenant thereto (collectively, the “Land”); 

(b) the Ground Leases (as defined below), together with the leasehold estates in the Ground Leased Property (as defined below), as to which
this Lease will constitute a sublease; 

 (c) all buildings, structures, Fixtures and improvements of every kind now or hereafter located
on the Land or the improvements located thereon or permanently affixed to the Land or the improvements located thereon, including, but not limited to, alleyways and connecting tunnels, sidewalks, utility pipes, conduits and lines appurtenant to such
buildings and structures (collectively, the “Leased Improvements”), provided, however, that the foregoing shall not affect or contradict the provisions of this Lease which specify that Tenant shall be entitled to certain rights with
respect to or benefits of the Tenant Capital Improvements as expressly set forth herein; 
 (d) all easements, development rights and other
rights appurtenant to the Land or the Leased Improvements; and 
 (e) any vessel, riverboat, barge or ship used as a Gaming Facility or
which is ancillary to a Gaming Facility, including but not limited to (i) a vessel, riverboat, barge or ship of any kind or nature, whether or not temporarily or permanently moored or affixed to any real property (including its engines,
machinery, boats, boilers, masts, rigging, anchors, chains, cables, apparel, tackle, outfit, spare gear, fuel, consumables or their stores, belongings and appurtenances, whether on board or ashore, and all additions, improvements and replacements)
which has a current and valid certificate of documentation issued by the National Vessel Documentation Center (“Certificate of Documentation”) or a current and valid certificate of compliance issued by a Gaming Authority
(“Certificate of Compliance”) or in the past has been the subject of a Certificate of Documentation and/or Certificate of Compliance, (ii) any property which is a vessel within the meaning given to that term in 1 U.S.C. §
3, and (iii) any property which would be a vessel within the meaning of that term as defined in 1 U.S.C. § 3 but for its removal from navigation for use in gaming or other business operations and/or any modifications made thereto to
facilitate dockside gaming or other business operations, and, in each case, all appurtenances thereof. 
 The Leased Property is leased subject to all
covenants, conditions, restrictions, easements and other matters of any nature affecting the Leased Property or any portion thereof as of the Commencement Date and such subsequent covenants, conditions, restrictions, easements and other matters as
may hereafter arise in accordance with the terms of this Lease or as may otherwise be agreed to in writing by Landlord and Tenant, whether or not of record, including any matters which would be disclosed by an inspection or accurate survey of the
Leased Property or any portion thereof. 
 Except as more specifically provided in the following paragraph, to the extent Landlord’s ownership of any
Leased Property or any portion thereof (including any improvement (including any Capital Improvement) or other property) that does not constitute “real property” within the meaning of Treasury Regulation Section 1.856-3(d), which would otherwise be owned by Landlord and leased to Tenant pursuant to this Lease, could cause Landlord REIT to fail to qualify as a “real estate investment trust” (within the meaning of
Section 856(a) of the Code, or any similar or successor provision thereto), then a portion of such property shall automatically instead be owned by Propco TRS LLC, a Delaware limited liability company, which is a “taxable REIT subsidiary”
(within the meaning of Section 856(l) of the Code, or any similar or successor provision thereto) of Landlord REIT (the “Propco TRS”), to the extent necessary such that Landlord’s ownership of such Leased Property does not
cause Landlord REIT to fail to 

  
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qualify as a real estate investment trust, provided, there shall be no adjustment in the Rent as a result of the foregoing. In such event, Landlord shall cause the Propco TRS to make such
property available to Tenant in accordance with the terms hereof; however, Landlord shall remain fully liable for all obligations of Landlord under this Lease and shall retain sole decision-making authority for any matters for which Landlord’s
consent or approval is required or permitted to be given and for which Landlord’s discretion may be exercised under this Lease. The terms and conditions of this paragraph shall not apply with respect to the casino at the Southern Indiana
Leased Property, which shall be governed by, among other things, the following paragraph and the final paragraph of the definition of “Rent” set forth in Section 1.2 hereof. 

Furthermore, Tenant acknowledges that the casino at the Southern Indiana Leased Property is currently located on a barge which Tenant intends to relocate in
the near future to a portion of the Leased Property currently consisting of vacant land adjacent to the hotel located at such Leased Property. In the event that an Accountant mutually acceptable to Landlord and Tenant determines at any time that the
relative values of the portions of the Southern Indiana Leased Property that constitute “real property” within the meaning of Treasury Regulation Section 1.856-3(d) on the one hand, and the portions
that do not constitute “real property” on the other hand, could reasonably be expected to cause Landlord REIT to fail to qualify as a “real estate investment trust” (within the meaning of Section 856(a) of the Code, or any
similar or successor provision thereto), the minimum portion of assets of the Southern Indiana Leased Property necessary to rectify such failure shall automatically instead be owned by a “taxable REIT subsidiary” (within the meaning of
Section 856(l) of the Code, or any similar or successor provision thereto) that owns solely such assets (“Southern Indiana Barge TRS”) and, in such event, Landlord shall cause the Southern Indiana Barge TRS to make such property
available to Tenant in accordance with the terms hereof; however, Landlord shall remain fully liable for all obligations of Landlord under this Lease and shall retain sole decision-making authority for any matters for which Landlord’s consent
or approval is required or permitted to be given and for which Landlord’s discretion may be exercised under this Lease. 
 1.2
Single, Indivisible Lease. This Lease constitutes one indivisible lease of the Leased Property and not separate leases governed by similar terms. The Leased Property constitutes one economic unit, and the Rent and all
other provisions have been negotiated and agreed upon based on a demise of all of the Leased Property to Tenant as a single, composite, inseparable transaction and would have been substantially different had separate leases or a divisible lease been
intended. Except as expressly provided in this Lease for specific, isolated purposes (and then only to the extent expressly otherwise stated), all provisions of this Lease apply equally and uniformly to all components of the Leased Property
collectively as one unit. The Parties intend that the provisions of this Lease shall at all times be construed, interpreted and applied so as to carry out their mutual objective to create an indivisible lease of all of the Leased Property and, in
particular but without limitation, that, for purposes of any assumption, rejection or assignment of this Lease under 11 U.S.C. Section 365, or any successor or replacement thereof or any analogous state law, this is one indivisible and non-severable lease and executory contract dealing with one legal and economic unit and that this Lease must be assumed, rejected or assigned as a whole with respect to all (and only as to all) of the Leased
Property. The Parties may elect to amend this Lease from time to time to modify the boundaries of the Land, to exclude one or more components or portions thereof, and/or to include one or more additional

  
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components as part of the Leased Property, and any such future addition to the Leased Property shall not in any way change the indivisible and nonseverable nature of this Lease and all of the
foregoing provisions shall continue to apply in full force. Furthermore, under certain circumstances as more particularly provided in this Lease below, one or more of the Facilities hereunder may, subject to the provisions of this Lease, be removed
from this Lease and the corresponding portion of the Leased Property will no longer be part of the Leased Property and such reduction of the Leased Property shall not in any way change the indivisible and nonseverable nature of this Lease and all of
the foregoing provisions shall continue to apply in full force with respect to the balance of the Leased Property. For the avoidance of doubt, the Parties acknowledge and agree that this Section 1.2 is not intended to and
shall not be deemed to limit, vitiate or supersede anything contained in Section 41.17 hereof. 
 1.3
Term. The “Term” of this Lease shall commence on the Commencement Date and expire on the Expiration Date (i.e., the Term shall consist of the Initial Term plus all Renewal Terms, to the extent exercised
as set forth in Section 1.4 below, subject to any earlier termination of the Term pursuant to the terms hereof). The initial stated term of this Lease (the “Initial Term”) shall commence on October 2,
2017 (the “Commencement Date”) and expire on October 31, 2032 (the “Initial Stated Expiration Date”). The “Stated Expiration Date” means the Initial Stated Expiration Date or the expiration
date of the most recently exercised Renewal Term, as the case may be. 
 1.4 Renewal Terms. The
Term of this Lease may be extended for four (4) separate “Renewal Terms” of five (5) years each if (a) at least twelve (12), but not more than eighteen (18), months prior to the then current Stated Expiration Date,
Tenant (or, pursuant to Section 17.1(e), a Permitted Leasehold Mortgagee) delivers to Landlord a “Renewal Notice” stating that it is irrevocably exercising its right to extend this Lease for one (1) Renewal Term; and
(b) no Tenant Event of Default shall have occurred and be continuing on the date Landlord receives the Renewal Notice or on the last day of the then current Term (other than a Tenant Event of Default that is in the process of being cured by a
Permitted Leasehold Mortgagee in compliance in all respects with Section 17.1(d) and Section 17.1(e)). Subject to the provisions, terms and conditions of this Lease, upon Tenant’s timely delivery to Landlord of a Renewal Notice,
the Term of this Lease shall be extended for the then applicable Renewal Term. During any such Renewal Term, except as specifically provided for herein, all of the provisions, terms and conditions of this Lease shall remain in full force and effect.
After the last Renewal Term, Tenant shall have no further right to renew or extend the Term. If Tenant fails to validly and timely exercise any right to extend this Lease, then all subsequent rights to extend the Term shall terminate. 

1.5 Maximum Fixed Rent Term. Notwithstanding anything herein to the contrary, the Term with respect
to any Excluded Renewal Property shall expire as of the end of the Renewal Term immediately prior to the Renewal Term that would cause the Term to extend beyond the expiration of the Maximum Fixed Rent Term (after taking into account Maximum Fixed
Rent Term extensions, if any, pursuant to clause (c)(iv) of the definition of “Rent”), in which event the applicable Excluded Renewal Property shall revert to Landlord and no longer shall be included in the Leased Property
hereunder, and all Tenant’s Property pertaining to such Excluded Renewal Property (including any Gaming Licenses relating thereto) shall remain owned by Tenant. 

  
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 ARTICLE II 

DEFINITIONS 
 For all
purposes of this Lease, except as otherwise expressly provided or unless the context otherwise requires, (i) the terms defined in this Article II have the meanings assigned to them in this Article and include the plural as well as the
singular and any gender as the context requires; (ii) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP; (iii) all references in this Lease to designated “Articles,”
“Sections,” “Exhibits” and other subdivisions are to the designated Articles, Sections, Exhibits and other subdivisions of this Lease; (iv) the word “including” shall have the same meaning as the phrase
“including, without limitation,” and other similar phrases; (v) the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Lease as a whole and not to any particular
Article, Section or other subdivision; (vi) all Exhibits, Schedules and other attachments annexed to the body of this Lease are hereby deemed to be incorporated into and made an integral part of this Lease; (vii) all references to a range
of Sections, paragraphs or other similar references, or to a range of dates or other range (e.g., indicated by “-” or “through”) shall be deemed inclusive of the entire range so referenced; (viii) for the calculation
of any financial ratios or tests referenced in this Lease, this Lease, regardless of its treatment under GAAP, shall be deemed to be an operating lease and the Rent payable hereunder shall be treated as an operating expense and shall not constitute
indebtedness or interest expense, and (ix) the fact that CEOC is sometimes named herein as “CEOC” is not intended to vitiate or supersede the fact that CEOC is included as one of the entities constituting Tenant. 

“AAA”: As defined in the definition of Appointing Authority. 

“Accepted MCI Financing Proposal”: As defined in Section 10.4(b). 

“Accountant”: Either (i) a firm of independent public accountants designated by Tenant or CEC, as applicable and
reasonably acceptable to Landlord, or (ii) a “big four” accounting firm designated by Tenant. 
 “Accounts”:
All Tenant’s accounts, including deposit accounts (but excluding any impound accounts established pursuant to Section 4.1 or any Fee Mortgage Reserve Accounts), all rents, profits, income, revenues or rights to payment
or reimbursement derived from Tenant’s use of any space within the Leased Property or any portion thereof and/or from goods sold or leased or services rendered by Tenant from the Leased Property or any portion thereof (including, without
limitation, from goods sold or leased or services rendered from the Leased Property or any portion thereof by any Subtenant or Affiliated property manager) and all Tenant’s accounts receivable derived from the use of the Leased Property or
goods or services provided from the Leased Property, in each case whether or not evidenced by a contract, document, instrument or chattel paper and whether or not earned by performance, including without limitation, the right to payment of
management fees and all proceeds of the foregoing. 
 “Acquirer”: As defined in Article XVIII. 

  
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 “Additional Charges”: All Impositions and all other amounts, liabilities and
obligations (excluding Rent) which Tenant assumes or agrees or is obligated to pay under this Lease and, in the event of any failure on the part of Tenant to pay any of those items, every fine, penalty, interest and cost which may be added for non-payment or late payment of such items pursuant to the terms hereof or under applicable law. 

“Additional Fee Mortgagee Requirements”: As defined in Section 31.3. 

“Additional Fee Mortgagee Requirements Period”: As defined in Section 31.3. 

“Affected Facility”: The applicable Facility, if a Rejected ROFR Property is located in the Restricted Area of such Facility.

 “Affiliate”: When used with respect to a specified Person, another Person that directly, or indirectly through one or
more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. In no event shall Tenant or any of its Affiliates be deemed to be an Affiliate of Landlord or any of Landlord’s Affiliates as a result of
this Lease, the Other Leases, the MLSA, the Other MLSAs and/or as a result of any consolidation by Tenant or Landlord of the other such party or the other such party’s Affiliates with Tenant or Landlord (as applicable) for accounting purposes.

 “All Property Tests”: Together, the Annual Minimum Cap Ex Requirement and the Triennial Minimum Cap Ex Requirement A.

 “Alteration”: Any construction, demolition, restoration, alteration, addition, improvement, renovation or other physical
changes or modifications of any nature in, on or to the Leased Improvements that is not a Capital Improvement. 
 “Alteration
Security”: As defined in Section 10.1. 
 “Alteration Threshold”: As defined in
Section 10.1. 
 “Annual Minimum Cap Ex Amount”: An amount equal to One Hundred Million and
No/100 Dollars ($100,000,000.00), provided, however, that for purposes of calculating the Annual Minimum Cap Ex Amount, Capital Expenditures during the applicable Fiscal Year shall not include (a) Services Co Capital Expenditures
in excess of Twenty-Five Million and No/100 Dollars ($25,000,000.00) nor (b) Capital Expenditures in respect of the London/Chester Properties in excess of Ten Million and No/100 Dollars ($10,000,000.00). The Annual Minimum Cap Ex Amount shall
be decreased from time to time (w) upon the execution of a Severance Lease in accordance with Section 18.2; (x) in the event of any partial termination of either this Lease or the Other Leases in connection with any
Condemnation or of this Lease in connection with a Casualty Event, or pursuant to the expiration of the Maximum Fixed Rent Term, in either case in accordance with the express terms of this Lease or the Other Leases (as applicable), in either case
that results in the removal of Material Leased Property from this Lease or the Other Leases (as applicable); (y) in connection with any disposition of all of the Other Leased Property under any Other Lease in accordance with Article XVIII of
such Other Lease and the assignment of such Other Lease to the Acquirer (as defined in such Other Lease); and (z) with respect to the London/Chester Properties, upon the disposition of any Material

  
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London/Chester Property; with such decrease, in each case of clause (w), (x), (y) or (z) above, being equal to the applicable Minimum Cap Ex Reduction Amount. Notwithstanding the foregoing:
(1) the sum of all decreases in the Annual Minimum Cap Ex Amount under clause (z) in respect of any dispositions of any London Clubs property shall not exceed Four Million and No/100 Dollars ($4,000,000.00); (2) the sum of all decreases in
the Annual Minimum Cap Ex Amount under clause (z) in respect of any dispositions of any Chester Property shall not exceed Six Million and No/100 Dollars ($6,000,000.00); (3) in the event of a disposition (in one or a series of transactions) of
all or substantially all of the London Clubs, the Annual Minimum Cap Ex Amount shall be decreased by an amount equal to Four Million and No/100 Dollars ($4,000,000.00); and (4) in the event of a disposition (in one or a series of transactions)
of all the Chester Property (subject to exclusions for assets that in the aggregate are de minimis), the Annual Minimum Cap Ex Amount shall be decreased by an amount equal to Six Million and No/100 Dollars ($6,000,000.00). Notwithstanding anything
herein to the contrary, fifty percent (50%) of all Capital Expenditures and Other Capital Expenditures constituting Material Capital Improvements or Other Material Capital Improvements shall be credited toward the Annual Minimum Cap Ex Amount
applicable to the Fiscal Years during which such Capital Expenditures or Other Capital Expenditures were incurred, and the other fifty percent (50%) of such Capital Expenditures and Other Capital Expenditures constituting Material Capital
Improvements or Other Material Capital Improvements shall not be credited toward the Annual Minimum Cap Ex Amount. 
 “Annual
Minimum Cap Ex Requirement”: As defined in Section 10.5(a)(i). 
 “Annual Minimum
Per-Lease B&I Cap Ex Requirement”: As defined in Section 10.5(a)(ii). 

“Applicable Deadline”: As defined in Section 23.1(b)(i). 

“Appointing Authority”: Either (i) the Institute for Conflict Prevention and Resolution (also known as, and shall be
defined herein as, the “CPR Institute”), unless it is unable to serve, in which case the Appointing Authority shall be (ii) the American Arbitration Association (“AAA”) under its Arbitrator Select Program for non-administered arbitrations or whatever AAA process is in effect at the time for the appointment of arbitrators in cases not administered by the AAA, unless it is unable to serve, in which case (iii) the
Parties shall have the right to apply to any court of competent jurisdiction to appoint an Appointing Authority in accordance with the court’s power to appoint arbitrators. The CPR Institute and the AAA shall each be considered unable to serve
if it no longer exists, or if it no longer provides neutral appointment services, or if it does not confirm (in form or substance) that it will serve as the Appointing Authority within thirty (30) days after receiving a written request to serve
as the Appointing Authority, or if, despite agreeing to serve as the Appointing Authority, it does not confirm appointment within sixty (60) days after receiving such written request. 

“Arbitration Provision”: Each of the following: the calculation of the Annual Minimum Cap Ex Amount; the determination of
whether a Capital Improvement constitutes a Material Capital Improvement; the determination of whether all or a portion of the Leased Property or Other Leased Property constitutes Material Leased Property; the determination of whether all or a
portion of the London/Chester Properties constitutes Material London/Chester 

  
 7 

 
Property; the determination of whether the Minimum Facilities Threshold is satisfied; the calculation of Net Revenue; the calculation of Rent (without limitation of the procedures set forth in
Section 3.2); the calculation of the Triennial Allocated Minimum Cap Ex Amount B Floor; the calculation of the Triennial Allocated Minimum Cap Ex Amount A; the calculation of the Triennial Allocated Minimum Cap Ex Amount B;
without limitation of the EBITDAR Calculation Procedures, any EBITDAR calculation made pursuant to this Lease or any determination or calculation made pursuant to this Lease for which EBITDAR is a necessary component of such determination or
calculation and the calculation of any amounts under Sections 10.1(a), 10.3, 10.5(a) and 10.5(b). 

“Architect”: As defined in Section 10.2(b). 

“Award”: All compensation, sums or anything of value awarded, paid or received from the applicable authority on a total or
partial Taking or Condemnation, including any and all interest thereon. 
 “Base Net Revenue Amount”: Two Billion Four
Hundred Ninety Two Million and No/100 Dollars ($2,492,000,000), which amount Landlord and Tenant agree represents Net Revenue for the Fiscal Period immediately preceding the first (1st) Lease Year. 

“Base Rent”: The Base Rent component of Rent, as defined in more detail in clauses (b) and (c) of the definition of
“Rent.” 
 “Beginning CPI”: As defined in the definition of CPI Increase. 

“Bookings”: Reservations, bookings and short-term arrangements with conventions, conferences, hotel guests, tours, vendors
and other groups or individuals (it being understood that whether or not such arrangements or agreements are short-term or temporary shall be determined without regard to how long in advance such arrangements or agreements are entered into), in each
case entered into in the ordinary course consistent with past practices. 
 “Brand” and “Brands”: As
defined in the MLSA. 
 “Business Day”: Each Monday, Tuesday, Wednesday, Thursday and Friday that (i) is not a day on
which national banks in the City of Las Vegas, Nevada or in New York, New York are authorized, or obligated, by law or executive order, to close, and (ii) is not any other day that is not a “Business Day” as defined under an Other
Lease. 
 “Cap Ex Reserve”: As defined in Section 10.5(b)(ii). 

“Cap Ex Reserve Funds”: As defined in Section 10.5(b)(ii). 

“Capital Expenditures”: The sum of (i) all expenditures actually paid by or on behalf of Tenant, on a consolidated
basis, to the extent capitalized in accordance with GAAP and in a manner consistent with Tenant’s annual Financial Statements, plus (ii) all Services Co Capital Expenditures; provided that the foregoing shall exclude capitalized interest.

  
 8 

 “Capital Improvement”: Any construction, restoration, alteration, addition,
improvement, renovation or other physical changes or modifications of any nature (excluding maintenance, repair and replacement in the ordinary course) in, on, or to the Leased Improvements, including, without limitation, structural alterations,
modifications or improvements of one or more additional structures annexed to any portion of the Leased Improvements or the expansion of existing Leased Improvements, in each case, to the extent that the costs of such activity are or would be
capitalized in accordance with GAAP and in a manner consistent with Tenant’s Financial Statements, and any demolition in connection therewith. 

“Capital Lease Obligations”: With respect to any Person, the obligations of such Person to pay rent or other amounts under
any lease of (or other similar arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations have been or should be classified and accounted for as capital leases on a balance sheet of such person
under GAAP (as in effect on the date hereof) and, for purposes hereof, the amount of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP (as in effect on the date hereof). 

“Cash”: Cash and cash equivalents and all instruments evidencing the same or any right thereto and all proceeds thereof. 

“Casualty Event”: Any loss, damage or destruction with respect to the Leased Property or any portion thereof. 

“CEC”: Caesars Entertainment Corporation, a Delaware corporation. 

“CEOC”: CEOC, LLC, a Delaware limited liability company, as successor by merger to Caesars Entertainment Operating Company,
Inc., a Delaware corporation. 
 “Change of Control”: With respect to any party, the occurrence of any of the following:
(a) the direct or indirect sale, exchange or other transfer (other than by way of merger, consolidation or amalgamation), in one or a series of related transactions, of all or substantially all the assets of such party and its Subsidiaries, taken as
a whole, to one or more Persons; (b) an officer of such party becomes aware (by way of a report or any other filing pursuant to Section 13(d) of the Exchange Act, proxy, vote, written notice or otherwise) of the consummation of any transaction
or series of related transactions (including, without limitation, any merger, consolidation or amalgamation), the result of which is that any “person” or “group” (as used in Section 13(d)(3) of the Exchange Act) or any successor
provision) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act or any successor provision), directly or indirectly, of more than
fifty percent (50%) of the Voting Stock of such party or other Voting Stock into which such party’s Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of securities or other ownership
interests; (c) the occurrence of a “change of control”, “change in control” (or similar definition) as defined in any indenture, credit agreement or similar debt instrument under which such party is an issuer, a borrower or
other obligor, in each case representing outstanding indebtedness in excess of One Hundred Million and No/100 Dollars ($100,000,000.00); or (d) such party consolidates with, or merges or amalgamates with or into, any other Person (or any other
Person consolidates with, or merges or amalgamates with or into, such party), in any such 

  
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event pursuant to a transaction in which any of such party’s outstanding Voting Stock or any of the Voting Stock of such other Person is converted into or exchanged for cash, securities or
other property, other than any such transaction where such party’s Voting Stock outstanding immediately prior to such transaction constitutes, or is converted into or exchanged for, a majority of the outstanding Voting Stock of the surviving
Person or any direct or indirect Parent Entity of the surviving Person immediately after giving effect to such transaction measured by voting power rather than number of securities or other ownership interests. For purposes of the foregoing
definition: (x) a party shall include any Parent Entity of such party; and (y) “Voting Stock” shall mean the securities or other ownership interests of any class or classes having general voting power under ordinary circumstances, in
the absence of contingencies, to elect the directors, managers or trustees (or other similar governing body) of a Person. Notwithstanding the foregoing: (A) the transfer of assets between or among a party’s wholly owned subsidiaries and
such party shall not itself constitute a Change of Control; (B) the term “Change of Control” shall not include a merger, consolidation or amalgamation of such party with, or the sale, assignment, conveyance, transfer or other
disposition of all or substantially all of such party’s assets to, an Affiliate of such party (1) incorporated or organized solely for the purpose of reincorporating such party in another jurisdiction, and (2) the owners of which and
the number and type of securities or other ownership interests in such party, measured by voting power and number of securities or other ownership interests, owned by each of them immediately before and immediately following such transaction, are
materially unchanged; (C) a “person” or “group” shall not be deemed to have beneficial ownership of securities subject to a stock or asset purchase agreement, merger agreement or similar agreement (or voting or option or
similar agreement related thereto) prior to the consummation of the transactions contemplated by such agreement; (D) the Restructuring Transactions (as defined in the Indenture) and any transactions related thereto shall not constitute a Change
of Control; and (E) a transaction will not be deemed to involve a Change of Control in respect of a party if (1) such party becomes a direct or indirect wholly owned subsidiary of a holding company, and (2) the direct or indirect
owners of such holding company immediately following that transaction are the same as the owners of such party immediately prior to that transaction and the number and type of securities or other ownership interests owned by each such direct and
indirect holder immediately following such transaction are materially unchanged from the number and type of securities or other ownership interests owned by such direct and indirect holder in such party immediately prior to that transaction. 

“Chester Property”: Those certain casino, race track and land parcels located at and around 777 Harrah’s Boulevard,
Chester, Pennsylvania, and owned directly or indirectly by CEOC. 
 “Code”: The Internal Revenue Code of 1986 and, to the
extent applicable, the Treasury Regulations promulgated thereunder, each as amended from time to time. 
 “Commencement
Date”: As defined in Section 1.3. 
 “Commission”: As defined in
Section 41.15. 
 “Condemnation”: The exercise of any governmental power, whether by legal
proceedings or otherwise, by any public or quasi-public authority, or private corporation or individual, having such power under Legal Requirements, either under threat of condemnation or while legal proceedings for condemnation are pending. 

  
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 “Confidential Information”: In addition to information described in
Section 41.22, any information or compilation of information relating to a business, procedures, techniques, methods, concepts, ideas, affairs, products, processes or services, including source code, information relating to
distribution, marketing, merchandising, selling, research, development, manufacturing, purchasing, accounting, engineering, financing, costs, pricing and pricing strategies and methods, customers, suppliers, creditors, employees, contractors,
agents, consultants, plans, billing, needs of customers and products and services used by customers, all lists of suppliers, distributors and customers and their addresses, prospects, sales calls, products, services, prices and the like, as well as
any specifications, formulas, plans, drawings, accounts or sales records, sales brochures, catalogs, code books, manuals, trade secrets, knowledge, know-how, operating costs, sales margins, methods of
operations, invoices or statements and the like. 
 “Continuous Operation Facilities”: Collectively, the Facilities known
as Horseshoe Southern Indiana, Horseshoe Hammond and Horseshoe Council Bluffs. 
 “Continuously Operated”: With respect to
any Facility, such Facility is continuously used and operated for its Primary Intended Use and open for business to the public during all business hours usual and customary for such use for comparable properties in the State where such Facility is
located. 
 “Control”: The possession, directly or indirectly, of the power to direct or cause the direction of the
management or policies of a Person, whether through the ownership of voting securities, partnership interests or any other Equity Interests or by contract, and “Controlling” and “Controlled” shall have meanings
correlative thereto. 
 “CPI”: The United States Department of Labor, Bureau of Labor Statistics Revised Consumer Price
Index for All Urban Consumers (1982-84=100), U.S. City Average, All Items, or, if that index is not available at the time in question, then the index designated by such Department as the successor to such
index, and if there is no index so designated, an index for an area in the United States that most closely corresponds to the entire United States, published by such Department, or if none, by any other instrumentality of the United States, all as
reasonably determined by Landlord and Tenant. 
 “CPI Increase”: The greater of (a) zero and (b) a fraction,
expressed as a decimal, determined as of each Escalator Adjustment Date, (x) the numerator of which shall be the difference between (i) the average CPI for the three (3) most recent calendar months (the “Prior
Months”) ending prior to such Escalator Adjustment Date (for which the CPI has been published as of such Escalator Adjustment Date) and (ii) the average CPI for the three (3) corresponding calendar months occurring one
(1) year prior to the Prior Months (such average CPI, the “Beginning CPI”), and (y) the denominator of which shall be the Beginning CPI. 

“CPR Institute”: As defined in the definition of Appointing Authority. 

“Division”: As defined in Section 41.15. 

  
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 “Dollars” and “$”: The lawful money of the United States. 

“Domestic Subsidiaries”: As defined in the definition of Qualified Replacement Guarantor. 

“EBITDA”: The same meaning as “EBITDAR” as defined herein but without giving effect to clause (xi) in the
definition thereof. 
 “EBITDAR”: For any applicable twelve (12) month period, the consolidated net income or loss of
a Person on a consolidated basis for such period, determined in accordance with GAAP, provided, however, that without duplication and in each case to the extent included in calculating net income (calculated in accordance with
GAAP): (i) income tax expense shall be excluded; (ii) interest expense shall be excluded; (iii) depreciation and amortization expense shall be excluded; (iv) amortization of intangible assets shall be excluded;
(v) write-downs and reserves for non-recurring restructuring-related items (net of recoveries) shall be excluded; (vi) reorganization items shall be excluded; (vii) any impairment charges or
asset write-offs, non-cash gains, losses, income and expenses resulting from fair value accounting required by the applicable standard under GAAP and related interpretations, and
non-cash charges for deferred tax asset valuation allowances, shall be excluded; (viii) any effect of a change in accounting principles or policies shall be excluded; (ix) any non-cash costs or expense incurred pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement shall
be excluded; (x) any nonrecurring gains or losses (less all fees and expenses relating thereto) shall be excluded; (xi) rent expense shall be excluded; and (xii) the impact of any deferred proceeds resulting from failed sale
accounting shall be excluded. In connection with any EBITDAR calculation made pursuant to this Lease or any determination or calculation made pursuant to this Lease for which EBITDAR is a necessary component of such determination or calculation,
(i) promptly following request therefor, Tenant shall provide Landlord with all supporting documentation and backup information with respect thereto as may be reasonably requested by Landlord, (ii) such calculation shall be as reasonably
agreed upon between Landlord and Tenant, and (iii) if Landlord and Tenant do not agree within twenty (20) days of either party seeking to commence discussions, the same may be determined by an Expert in accordance with and pursuant to the
process set forth in Section 34.2 hereof (clauses (i) through (iii), collectively, the “EBITDAR Calculation Procedures”). 

“EBITDAR Calculation Procedures”: As defined in the definition of EBITDAR. 

“Eligible Account”: A separate and identifiable account from all other funds held by the holding institution that is either
(a) an account or accounts maintained with a federal or state-chartered depository institution or trust company which complies with the definition of Eligible Institution or (b) a segregated trust account or accounts maintained with a
federal or state chartered depository institution or trust company acting in its fiduciary capacity that has a Moody’s rating of at least “Baa2” and which, in the case of a state chartered depository institution or trust company, is
subject to regulations substantially similar to 12 C.F.R. §9.10(b), having in either case a combined capital and surplus of at least Fifty Million and No/100 Dollars ($50,000,000.00) and subject to supervision or examination by federal and
state authority. An Eligible Account will not be evidenced by a certificate of deposit, passbook or other instrument. 

  
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 “Eligible Institution”: Either (a) a depository institution or trust
company insured by the Federal Deposit Insurance Corporation, the short-term unsecured debt obligations or commercial paper of which are rated at least “A-1+” by S&P and “P-1” by Moody’s in the case of accounts in which funds are held for thirty (30) days or less (or, in the case of Letters of Credit and accounts in which funds are held for more than thirty
(30) days, the long-term unsecured debt obligations of which are rated at least “A+” by S&P and “Aa3” by Moody’s), or (b) Wells Fargo Bank, National Association, provided that the rating by S&P and
Moody’s for the short term unsecured debt obligations or commercial paper and long term unsecured debt obligations of the same does not decrease below the ratings set forth in subclause (a) hereof. 

“Embargoed Person”: Any person, entity or government subject to trade restrictions under U.S. law, including, but not limited
to, The USA PATRIOT Act (including the anti-terrorism provisions thereof), the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701, et seq., The Trading with the
Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder including those related to Specially Designated Nationals and Specially Designated Global Terrorists, with the result that the
applicable transaction is prohibited by law or in violation of law. 
 “Environmental Costs”: As defined in
Section 32.4. 
 “Environmental Laws”: Any and all federal, state, municipal and local laws,
statutes, ordinances, rules, regulations, orders, decrees or judgments, whether statutory or common law, as amended from time to time, now or hereafter in effect, or promulgated, pertaining to the environment, public health and safety and industrial
hygiene and relating to the use, generation, manufacture, production, storage, release, discharge, disposal, handling, treatment, removal, decontamination, cleanup, transportation or regulation of any Hazardous Substance, including the Industrial
Site Recovery Act, the Clean Air Act, the Clean Water Act, the Toxic Substances Control Act, the Comprehensive Environmental Response Compensation and Liability Act, the Resource Conservation and Recovery Act, the Federal Insecticide, Fungicide,
Rodenticide Act, the Safe Drinking Water Act and relevant provisions of the Occupational Safety and Health Act. 
 “Equity
Interests”: With respect to any Person, any and all shares, interests, participations, equity interests, voting interests or other equivalents, including membership interests (however designated, whether voting or non-voting), of equity of such Person, including, if such Person is a partnership, partnership interests (whether general or limited) and any other interest or participation that confers on a Person the right to
receive a share of the profit, and losses of, or distributions of assets of, such partnership. 
 “Escalator”: The sum of
(a) one plus (b) the greater of (i) two one-hundredths (0.02) and (ii) the CPI Increase. 

“Escalator Adjustment Date”: The first day of each Lease Year, excluding the first Lease Year of the Initial Term and the
first Lease Year of each Renewal Term. 
 “Estoppel Certificate”: As defined in Section 23.1(a). 

  
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 “Exchange Act”: The Securities Exchange Act of 1934, as amended, and the rules
and regulations of the SEC promulgated thereunder. 
 “Excluded Assets”: (i) Motor vehicles and other assets subject to
certificates of title and letter of credit rights (in each case, other than to the extent a lien on such assets or such rights can be perfected by filing a UCC-1), and commercial tort claims with a value of
less than Fifteen Million and No/100 Dollars ($15,000,000.00), (ii) pledges and security interests (1) prohibited by Legal Requirements (including Gaming Regulations) or contractual obligation (except to the extent such contractual
obligation was entered into with the intent to vitiate the rights of Landlord hereunder, and provided that Tenant shall use good faith efforts, in its commercially reasonable business judgment, to avoid agreeing to contractual obligations that
prohibit pledging of assets that otherwise would constitute Tenant’s Pledged Property) in each case, except to the extent such prohibition is unenforceable after giving effect to the applicable anti-assignment provisions of Article 9 of
the Uniform Commercial Code or (2) which would require governmental (including Gaming Authority) consent, approval, license or authorization to be pledged (to the extent such consent, approval, license or authorization has not been obtained, it
being understood that Tenant shall use commercially reasonable efforts to obtain such consent, approval, license or authorization, but only to the extent such efforts are reasonably expected to have a reasonable likelihood of resulting in obtaining
such consent, approval, license or authorization), in each case, except to the extent such requirement is unenforceable after giving effect to the applicable anti-assignment provisions of Article 9 of the Uniform Commercial Code, (iii) those
assets as to which Landlord and Tenant reasonably agree in writing that the costs or other consequence of obtaining or perfecting such a security interest or perfection thereof are excessive in relation to the value of the security to be afforded
thereby, (iv) any lease, license or other agreement to the extent that a grant of a security interest therein would violate or invalidate such lease, license or agreement or create a right of termination in favor of any other party thereto
(other than Tenant, CEC or any of their Affiliates) after giving effect to the applicable anti-assignment provisions of Article 9 of the Uniform Commercial Code, (v) any governmental licenses (including gaming licenses) or state or local
franchises, charters and authorizations, to the extent security interests in such licenses, franchises, charters or authorizations are prohibited or restricted thereby or require the consent of any governmental authority (to the extent such consent
has not been obtained, it being understood that Tenant shall use commercially reasonable efforts to obtain such consent, but only to the extent such efforts are reasonably expected to have a reasonable likelihood of resulting in obtaining such
consent) in each case, except to the extent such prohibition or restriction is unenforceable after giving effect to the applicable anti-assignment provisions of Article 9 of the Uniform Commercial Code, (vi) pending United States “intent-to-use” trademark applications for which a verified statement of use or an amendment to allege use has not been filed with and accepted by the United States
Patent and Trademark Office, (vii) any Equity Interests, (viii) other customary exclusions separately agreed in writing between Landlord and Tenant, (ix) any segregated accounts or funds, or any portion thereof, received by Tenant as
agent on behalf of third parties in accordance with a written agreement that imposes a duty upon Tenant to collect and remit those funds to such third parties, (x) any equipment or other asset that is subject to a purchase money debt
arrangement, slot financing arrangement or a personal property lease obligation, if the contract or other agreement providing for such purchase money debt arrangement, slot financing arrangement or personal property lease obligation prohibits or
requires the consent of any Person (other than Tenant, CEC or any of their respective Affiliates) as a condition to the creation of any 

  
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other security interest on such equipment or asset and, in each case, to the extent such purchase money debt arrangement, slot financing arrangement or personal property lease obligation is
permitted under Section 6.3 hereof, and (xi) proceeds and products of Tenant’s Pledged Property that do not independently qualify as Tenant’s Pledged Property; provided, that Tenant may in its sole
discretion elect to exclude any property from the definition of Excluded Assets. 
 “Excluded Renewal Property”: As defined
in the definition of “Rent.” 
 “Existing Fee Mortgage”: The Fee Mortgages as in effect on the Commencement Date
(if any), together with any amendments, modifications, and/or supplements thereto after the Commencement Date. 
 “Expert”:
An independent third party professional, with expertise in respect of a matter at issue, appointed by the agreement of Landlord and Tenant or otherwise in accordance with Article XXXIV hereof. 

“Expert Valuation Notice”: As defined in Section 34.1. 

“Expiration Date”: The Stated Expiration Date, or such earlier date as this Lease is terminated pursuant to its terms. 

“Extraordinary Items”: Gains or losses related to events and transactions that both: (a) possess a high degree of
abnormality and are of a type clearly unrelated to, or only incidentally related to, the ordinary and typical activities of the applicable entity, taking into account the environment in which such entity operates; and (b) are of a type
that would not reasonably be expected to recur in the foreseeable future, taking into account the environment in which the applicable entity operates. 

“Facility” or “Facilities”: Collectively, (a) the assets comprising (i) a part of an individual
Leased Property as listed on Exhibit A attached hereto, including the respective Leased Improvements, easements, development rights, and other tangible rights (if any) forming a part thereof or appurtenant thereto, including any and all
Capital Improvements (including any Tenant Material Capital Improvements), and (ii) all of Tenant’s Property, and (b) the business operated by Tenant on or about the Leased Property or Tenant’s Property or any portion thereof or
in connection therewith. 
 “Fair Market Ownership Value”: The fair market purchase price of the Leased Property, Facility
or any applicable part thereof, as the context requires, as of the estimated transfer date, in its then-condition, that a willing purchaser would pay to a willing seller for Cash on arm’s-length terms
(assuming (1) neither such purchaser nor seller is under any compulsion to sell or purchase and that both have reasonable knowledge of all relevant facts, are acting prudently and knowledgeably in a competitive and open market, and assuming
price is not affected by undue stimulus and (2) neither party is paying any broker a commission in connection with the transaction), taking into account the provisions of Section 34.1(f) if applicable, and otherwise
taking all then-relevant factors into account (whether favorable to one, both or neither Party) and subject to the further factors, as applicable, that are set forth in the definition of “Fair Market Rental Value” herein below as
applicable, either (i) as agreed in writing by Landlord and Tenant, or (ii) as determined in accordance with the procedure specified in Section 34.1 of this Lease. 

  
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 “Fair Market Base Rental Value”: The Fair Market Rental Value, as determined
with respect to Base Rent only (and not Variable Rent nor Additional Charges), assuming and taking into account that Variable Rent and Additional Charges shall continue to be paid hereunder during any period in which such Fair Market Base Rental
Value shall be paid. 
 “Fair Market Property Value”: The fair market purchase price of the applicable personal property
(including, solely in the case of a valuation pursuant to Section 36.3 hereof, rights to or under applicable Intellectual Property), as the context requires, as of the estimated transfer date, in its then-condition, that a
willing purchaser would pay to a willing seller for Cash on arm’s-length terms (assuming (1) neither such purchaser nor seller is under any compulsion to sell or purchase and that both have
reasonable knowledge of all relevant facts, are acting prudently and knowledgeably in a competitive and open market, and assuming price is not affected by undue stimulus and (2) neither party is paying any broker a commission in connection with
the transaction), and otherwise taking all then-relevant factors into account (whether favorable to one, both or neither Party),either (i) as agreed in writing by Tenant and either Landlord or Successor Tenant (as applicable), or (ii) if
not agreed upon in accordance with clause (i) above, as determined in accordance with the procedure specified in Section 34.1. 

“Fair Market Rental Value”: The annual fixed fair market rental value for the Leased Property or any applicable part thereof
(excluding Tenant Material Capital Improvements), as the context requires, as of the date of commencement of the Renewal Term for which the Fair Market Rental Value is being determined, in its then-condition, that a willing tenant would pay to a
willing landlord on arm’s length terms (assuming (1) neither such tenant nor landlord is under any compulsion to lease and that both have reasonable knowledge of all relevant facts, are acting prudently and knowledgeably in a competitive
and open market, and assuming price is not affected by undue stimulus, (2) such lease contained terms and conditions identical to the terms and conditions of this Lease, other than with respect to the length of term and payment of Rent,
(3) neither party is paying any broker a commission in connection with the transaction, and (4) that the tenant thereunder will pay such Fair Market Rental Value for the entire term of such demise (i.e., no early termination)),
taking into account the provisions of Section 34.1(g), and otherwise taking all then-relevant factors into account (whether favorable to one, both or neither Party), either (i) as agreed in writing by Landlord and
Tenant, or (ii) as determined in accordance with the procedure specified in Section 34.1 of this Lease. In all cases, for purposes of determining the Fair Market Ownership Value or the Fair Market Rental Value, as the
case may be, (A) the Leased Property (or Facility, as applicable) to be valued pursuant hereto (as improved by all then existing Leased Improvements, and all Capital Improvements thereto, but excluding any Tenant Material Capital Improvements),
shall be valued as (or as part of) a fully-permitted Facility operated in accordance with the provisions of this Lease for the Primary Intended Use, free and clear of any lien or encumbrance evidencing a debt (including any Permitted Leasehold
Indebtedness) or judgment (including any mortgage, security interest, tax lien, or judgment lien) (provided, however, for purposes of determining Fair Market Ownership Value of any applicable Tenant Material Capital Improvements pursuant to
Section 10.4(e), the same shall be valued on the basis of the then-applicable status of any applicable permits, free and clear of only such liens and encumbrances that will be removed if and when

  
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conveyed to Landlord pursuant to said Section 10.4(e)), (B) in determining the Fair Market Ownership Value or Fair Market Rental Value with respect to damaged or destroyed Leased Property,
such value shall be determined as if such Leased Property had not been so damaged or destroyed (unless otherwise expressly provided herein), except that such value with respect to damaged or destroyed Tenant Material Capital Improvements shall only
be determined as if such Tenant Material Capital Improvements had been restored if and to the extent Tenant is required to repair, restore or replace such Tenant Material Capital Improvements under this Lease (provided, however, for purposes of
determining Fair Market Ownership Value pursuant to Section 10.4(e), the same shall be valued taking into account any then-existing damage), and (C) the price shall represent the normal consideration for the property sold (or leased)
unaffected by sales (or leasing) concessions granted by anyone associated with the transaction. In addition, the following specific matters shall be factored in or out, as appropriate, in determining Fair Market Ownership Value or Fair Market Rental
Value as the case may be: (i) the negative value of (x) any deferred maintenance or other items of repair or replacement of the Leased Property to the extent arising from breach or failure of Tenant to perform or observe its obligations
hereunder, (y) any then current or prior Gaming or other licensure violations by Tenant, Guarantor or any of their Affiliates, and (z) any breach or failure of Tenant to perform or observe its obligations hereunder (in each case with
respect to the foregoing clauses (x), (y) and (z), without giving effect to any applicable cure periods hereunder), shall, in each case, when determining Fair Market Ownership Value or Fair Market Rental Value, as the case may be, not be taken into
account; rather, the Leased Property and every part thereof shall be deemed to be in the condition required by this Lease and Tenant shall at all times be deemed to have operated the Facilities in compliance with and to have performed all
obligations of Tenant under this Lease (provided, however, for purposes of determining Fair Market Ownership Value under Section 10.4(e), the negative value of the items described in clauses (x), (y) and (z) shall be taken into account);
and (ii) in the case of a determination of Fair Market Rental Value, such determination shall be without reference to any savings Landlord may realize as a result of any extension of the Term of this Lease, such as savings in free rent and
tenant concessions, and without reference to any “start-up” costs a new tenant would incur were it to replace the existing Tenant for any Renewal Term or otherwise. The determination of Fair Market
Rental Value shall be of Base Rent and Variable Rent (but not Additional Charges), and shall assume and take into account that Additional Charges shall continue to be paid hereunder during any period in which such Fair Market Rental Value shall be
paid. For the avoidance of doubt, the annual Fair Market Rental Value shall be calculated and evaluated as a whole for the entire term in question, and may reflect increases in one or more years during the applicable term in question (i.e., the
annual Fair Market Rental Value need not be identical for each year of the term in question). 
 “Fee Mortgage”: Any
mortgage, pledge agreement, security agreement, assignment of leases and rents, fixture filing or similar document creating or evidencing a lien on Landlord’s interest in the Leased Property or any portion thereof (or an indirect interest
therein, including without limitation, a lien on direct or indirect interests in Landlord) in accordance with the provisions of Article XXXI hereof. 

“Fee Mortgage Documents”: With respect to each Fee Mortgage and Fee Mortgagee, the applicable Fee Mortgage, loan agreement,
pledge agreement, debt agreement, credit agreement or indenture, lease, note, collateral assignment instruments, guarantees, indemnity agreements and other documents or instruments evidencing, securing or otherwise relating to the loan made, credit
extended, or lease or other financing vehicle entered into pursuant thereto. 

  
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 “Fee Mortgagee”: The holder(s) or lender(s) under any Fee Mortgage or the agent
or trustee acting on behalf of any such holder(s) or lender(s). 
 “Fee Mortgage Reserve Account”: As defined in
Section 31.3. 
 “FF&E”: Collectively, furnishings, fixtures, inventory, and equipment
located in the guest rooms, hallways, lobbies, restaurants, lounges, meeting and banquet rooms, parking facilities, public areas or otherwise in any portion of the Facility, including (without limitation) all beds, chairs, bookcases, tables,
carpeting, drapes, couches, luggage carts, luggage racks, bars, bar fixtures, radios, television sets, intercom and paging equipment, electric and electronic equipment, heating, lighting and plumbing fixtures, fire prevention and extinguishing
apparatus, cooling and air-conditioning systems, elevators, escalators, stoves, ranges, refrigerators, laundry machines, tools, machinery, boilers, incinerators, switchboards, conduits, compressors, vacuum
cleaning systems, floor cleaning, waxing and polishing equipment, cabinets, lockers, shelving, dishwashers, garbage disposals, washer and dryers, gaming equipment and other casino equipment and all other hotel and casino resort equipment, supplies
and other tangible property owned by Tenant, or in which Tenant has or shall have an interest, now or hereafter located at the Leased Property or used or held for use in connection with the present or future operation and occupancy of the Facility;
provided, however, that FF&E shall not include items owned by subtenants that are neither Tenant nor Affiliates of Tenant, by guests or by other third parties. 

“Financial Statements”: (i) For a Fiscal Year, consolidated statements of a Person’s and its Reporting
Subsidiaries’, if any, income, stockholders’ equity and comprehensive income and cash flows for such period and the related consolidated balance sheet as at the end of such period, together with the notes thereto, all in reasonable detail
and setting forth in comparative form the corresponding figures for the corresponding period in the preceding Fiscal Year and prepared in accordance with GAAP and audited by a “big four” or other nationally recognized accounting firm, and
(ii) for a Fiscal Quarter, consolidated statements of a Person’s and its Reporting Subsidiaries’, if any, income, stockholders’ equity and comprehensive income and cash flows for such period and for the period from the beginning
of the Fiscal Year to the end of such period and the related consolidated balance sheet as at the end of such period, together with the notes thereto, all in reasonable detail and setting forth in comparative form the corresponding figures for the
corresponding period in the preceding Fiscal Year or Fiscal Quarter, as the case may be, and prepared in accordance with GAAP. 

“First Variable Rent Period”: As defined in clause (b)(ii)(A) of the definition of “Rent.” 

“First VRP Net Revenue Amount”: As defined in clause (b)(ii)(A)(x) of the definition of “Rent.” 

“Fiscal Quarter”: With respect to any Person, for any date of determination, a fiscal quarter for each Fiscal Year of such
Person. In the case of each of Tenant and CEC, “Fiscal Quarter” means each calendar quarter ending on March 31, June 30, September 30 and December 31, for each Fiscal Year of Tenant. 

  
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 “Fiscal Period”: With respect to any Person, for any date of determination, the
period of the four (4) most recently ended consecutive Fiscal Quarters of such Person for which Financial Statements are available. 

“Fiscal Year”: The annual period commencing January 1 and terminating December 31 of each year. 

“Fixtures”: All equipment, machinery, fixtures and other items of property, including all components thereof, that are now or
hereafter located in or on, or used in connection with, and permanently affixed to or otherwise incorporated into the Leased Improvements or the Land. 

“Foreclosure Purchaser”: As defined in Section 31.1. 

“Foreclosure Successor Tenant”: Either (i) any assignee pursuant to Sections 22.2(i)(b) or (c), or
(ii) any Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee that enters into a New Lease in compliance in all respects with Section 17.1(f) and all other applicable provisions of this Lease. 

“GAAP”: Generally accepted accounting principles in the United States consistently applied in the preparation of financial
statements, as in effect from time to time. 
 “Gaming”: Casino, racetrack, racino, video lottery terminal or other gaming
activities, including, but not limited to, the operation of slot machines, video lottery terminals, table games, pari-mutuel wagering or other applicable types of wagering (including, but not limited to, sports wagering). 

“Gaming Authorities”: Any gaming regulatory body or any agency or governmental authority which has, or may at any time after
the Commencement Date have, jurisdiction over the gaming activities at an applicable Leased Property or any successor to such authority. 

“Gaming Facility”: A facility at which there are operations of slot machines, video lottery terminals, blackjack, baccarat,
keno operation, table games, any other mechanical or computerized gaming devices, pari-mutuel wagering or other applicable types of wagering (including, but not limited to, sports wagering), or which is otherwise operated for purposes of Gaming, and
all related or ancillary real property. 
 “Gaming License”: Any license, qualification, registration, accreditation,
permit, approval, finding of suitability or other authorization issued by a state or other governmental regulatory agency (including any Native American tribal gaming or governmental authority) or Gaming Authority to operate, carry on or conduct any
gaming, gaming device, slot machine, video lottery terminal, table game, race book or sports pool on the Leased Property or any portion thereof, or to operate a casino at the Leased Property required by any Gaming Regulation, including each of the
licenses, permits or other authorizations set forth on Schedule 1, and including those related to the Leased Property that may be added to this Lease after the Commencement Date. 

  
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 “Gaming Regulation(s)”: Any and all laws, statutes, ordinances, rules,
regulations, policies, orders, codes, decrees or judgments, and Gaming License conditions or restrictions, as amended from time to time, now or hereafter in effect or promulgated, pertaining to the operation, control, maintenance, alteration,
modification or capital improvement of a Gaming Facility or the conduct of a person or entity holding a Gaming License, including, without limitation, any requirements imposed by a regulatory agency, commission, board or other governmental body
pursuant to the jurisdiction and authority granted to it under applicable law, and all other rules, regulations, orders, ordinances and legal requirements of any Gaming Authority. 

“Gaming Revenues”: As defined in the definition of “Net Revenue.” 

“Government List”: (1) any list or annex to Presidential Executive Order 13224 issued on September 24, 2001
(“EO13224”), including any list of Persons who are determined to be subject to the provisions of EO13224 or any other similar prohibitions contained in the rules and regulations of OFAC (as defined below) or in any enabling
legislation or other Presidential Executive Orders in respect thereof, (2) the Specially Designated Nationals and Blocked Persons Lists maintained by OFAC, (3) any other list of terrorists, terrorist organizations or narcotics traffickers
maintained pursuant to any of the Rules and Regulations of OFAC, or (4) any similar lists maintained by the United States Department of State, the United States Department of Commerce or any other governmental authority or pursuant to any
Executive Order of the President of the United States of America. 
 “Ground Leased Property”: The real property leased
pursuant to the Ground Leases. The Ground Leased Property in respect of the Ground Leases in existence as of the Commencement Date is described in Exhibit E attached hereto. 

“Ground Leases”: Collectively, those certain leases with respect to real property that is a portion of the Leased Property,
pursuant to which Landlord is a tenant and which leases are in existence as of the Commencement Date and listed on Schedule 2 hereto or, subject to Section 7.3, subsequently added to the Leased Property in accordance
with the provisions of this Lease. Each of the Ground Leases is referred to individually herein as a “Ground Lease.” 

“Ground Lessor”: As defined in Section 7.3. 

“Guarantor”: CEC, together with its successors and permitted assigns, in its capacity as “Lease Guarantor” under
the MLSA. 
 “Guarantor EOD Conditions”: Both (i) a Leasehold Foreclosure with MLSA Assumption (as defined in the
MLSA) has occurred, and (ii) Guarantor is not an Affiliate of Tenant. 
 “Guest Data”: Any and all information and
data identifying, describing, concerning or generated by prospective, actual or past guests, family members, website visitors and customers of casinos, hotels, retail locations, restaurants, bars, spas, entertainment venues, or

  
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other facilities or services, including without limitation any and all guest or customer profiles, contact information (e.g., addresses, phone numbers, facsimile numbers and email addresses),
histories, preferences, game play and patronage patterns, experiences, results and demographic information, whether or not any of the foregoing constitutes personally identifiable information, together with any and all other guest or customer
information in any database of Tenant, Services Co, Manager or any of their respective Affiliates, regardless of the source or location thereof, and including without limitation such information obtained or derived by Tenant, Services Co, Manager or
any of their respective Affiliates from: (i) guests or customers of the Facilities (for the avoidance of doubt, including Property Specific Guest Data); (ii) guests or customers of any Other Facility (including any condominium or interval
ownership properties) owned, leased, operated, licensed or franchised by Tenant or any of its Affiliates, or any facility associated with any such Other Facility (including restaurants, golf courses and spas); or (iii) any other sources and
databases, including websites, central reservations databases, operational data base (ODS) and any player loyalty programs (e.g., the Total Rewards Program (as defined in the MLSA)). 

“Handling”: As defined in Section 32.4. 

“Hazardous Substances”: Collectively, any petroleum, petroleum product or by product or any substance, material or waste
regulated pursuant to any Environmental Law. 
 “Impositions”: Collectively, all taxes, including ad valorem, sales, use,
single business, gross receipts, transaction privilege, rent or similar taxes; assessments, including assessments for public improvements or benefits, whether or not commenced or completed prior to the Commencement Date and whether or not to be
completed within the Term; ground rents pursuant to Ground Leases (in effect as of the Commencement Date or otherwise entered into in accordance with this Lease); water, sewer and other utility levies and charges; excise tax levies; license, permit,
inspection, authorization and similar fees; bonds and all other governmental charges, in each case whether general or special, ordinary or extraordinary, or foreseen or unforeseen, of every character to the extent in respect of the Leased Property
or any portion thereof and/or the Rent and Additional Charges (but not, for the avoidance of doubt, in respect of Landlord’s income (as specified in clause (a) below)) and all interest and penalties thereon attributable to any failure in
payment by Tenant, which at any time prior to or during the Term may be assessed or imposed on or in respect of or be a lien upon (i) Landlord or Landlord’s interest in the Leased Property or any portion thereof, (ii) the Leased
Property or any portion thereof or any rent therefrom or any estate, right, title or interest therein, or (iii) any occupancy, operation, use or possession of, or sales from or activity conducted on or in connection with the Leased Property or
any portion thereof or the leasing or use of the Leased Property or any portion thereof; provided, however that nothing contained in this Lease shall be construed to require Tenant to pay (a) any tax, fee or other charge based on
net income (whether denominated as a franchise or capital stock or other tax) imposed on Landlord or any other Person (except Tenant and its successors), (b) any transfer, or net revenue tax of Landlord or any other Person (except Tenant and
its successors), (c) any tax imposed with respect to the sale, exchange or other disposition by Landlord of any Leased Property or any portion thereof or the proceeds thereof, (d) any principal or interest on or other amount in respect of
any indebtedness on or secured by the Leased Property or any portion thereof for which Landlord (or any of its Affiliates) is the obligor, or (e) any principal or interest on or other amount in respect of any indebtedness of Landlord or its
Affiliates that is not otherwise included as “Impositions” 

  
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hereunder; provided, further, however, that Impositions shall include (and Tenant shall be required to pay in accordance with the provisions of this Lease) (x) any tax,
assessment, tax levy or charge set forth in clause (a) or (b) of the preceding proviso that is levied, assessed or imposed in lieu of, or as a substitute for, any Imposition (and, without limitation, if at any time during the Term the method of
taxation prevailing at the Commencement Date shall be altered so that any new, non-income-based tax, assessment, levy (including, but not limited to, any city, state or federal levy), imposition or charge, or
any part thereof, shall be measured by or be based in whole or in part upon the Leased Property, or any part thereof, and shall be imposed upon Landlord, then all such new taxes, assessments, levies, impositions or charges, or the part thereof to
the extent that they are so measured or based, shall be deemed to be included within the term “Impositions” for the purposes hereof, to the extent that such Impositions would be payable if the Leased Property were the only property of
Landlord subject to such Impositions, and Tenant shall pay and discharge the same as herein provided in respect of the payment of Impositions), (y) any transfer taxes or other levy or assessment imposed by reason of any assignment of this Lease
(other than an assignment of this Lease made by Landlord) or any interest therein subsequent to the execution and delivery hereof, or any transfer or Sublease or termination thereof and (z) any mortgage tax or mortgage recording tax imposed by
reason of any Permitted Leasehold Mortgage or any other instrument creating or evidencing a lien in respect of indebtedness of Tenant or its Affiliates (but not any mortgage tax or mortgage recording tax imposed by reason of a Fee Mortgage or any
other instrument creating or evidencing a lien in respect of indebtedness of Landlord or its Affiliates). 
 “Incurable
Default”: Collectively or individually, as the context may require, the defaults referred to in Sections 16.1(c), 16.1(d), 16.1(e), 16.1(h) (as to judgments against Guarantor only), 16.1(i), 16.1(n)
and 16.1(r) and any other defaults not reasonably susceptible to being cured by a Permitted Leasehold Mortgagee or a subsequent owner of the Leasehold Estate through foreclosure thereof. 

“Indenture”: That certain First-Priority Senior Secured Floating Rate Notes due 2022 Indenture dated October 2, 2017,
among PropCo 1, VICI FC Inc., a Delaware corporation, VICI NC LLC, a Delaware limited liability company, the Subsidiary Guarantors (as defined therein) party thereto from time to time, and UMB Bank, National Association, as trustee. 

“Initial Stated Expiration Date”: As defined in Section 1.3. 

“Initial Term”: As defined in Section 1.3. 

“Insurance Requirements”: The terms of any insurance policy required by this Lease and all requirements of the issuer of any
such policy and of any insurance board, association, organization or company necessary for the maintenance of any such policy. 

“Intellectual Property” or “IP”: All rights in, to and under any of the following, as they exist anywhere in
the world, whether registered or unregistered: (i) all patents and applications therefor and all reissues, divisions, divisionals, renewals, extensions, provisionals, continuations and continuations-in-part thereof, and all patents, applications, documents and filings claiming priority to or serving as a basis for priority thereof, (ii) all inventions (whether or not patentable),
invention disclosures, improvements, Business Information, Confidential 

  
 22 

 
Information, Software, formulas, drawings, research and development, business and marketing plans and proposals, tangible and intangible proprietary information, and all documentation relating to
any of the foregoing, (iii) all copyrights, works of authorship, copyrightable works, copyright registrations and applications therefor, and all other rights corresponding thereto, (iv) all industrial designs and any registrations and
applications therefor, (v) all trademarks, service marks, trade dress, logos, trade names, assumed names and corporate names, Internet domain names and other numbers, together with all translations, adaptations, derivations and combinations
thereof and including all goodwill associated therewith, and all applications, registrations and renewals in connection therewith (“Trademarks”), (vi) all databases and data collections (including all Guest Data) and all rights
therein, (vii) all moral and economic rights of authors and inventors, however denominated, (viii) all Internet addresses, sites and domain names, numbers, and social media user names and accounts, (ix) any other similar intellectual
property and proprietary rights of any kind, nature or description; and (x) any copies of tangible embodiments thereof (in whatever form or medium). 

“Intercreditor Agreement”: That certain Intercreditor Agreement, dated as of the date hereof, by and among Landlord, Credit
Suisse AG, Cayman Islands Branch, as Credit Agreement Collateral Agent (as defined therein), each additional Tenant Financing Collateral Agent (as defined therein) that becomes a party thereto pursuant to Section 9.6
thereof, Tenant and Wilmington Trust, National Association, as collateral agent for the First Lien Secured Parties, Wilmington Trust, as Authorized Representative for the Credit Agreement Secured Parties and UMB Bank, National Association, as
Authorized Representative for the Initial Other First Lien Secured Parties and Wilmington Trust, National Association as Credit Agreement Agent, UMB Bank, National Association as Initial Other First Priority Lien Obligations Agent and UMB Bank,
National Association, as trustee under the Second Priority Senior Secured Notes Indenture and as collateral agent under the Collateral Agreement (Second Lien) dated as of October 2, 2017, among the Issuers, certain other Grantors and the
Trustee in respect of the Second Priority Senior Secured Notes Indenture, each as lender under the Landlord Financing Agreement (as defined therein). 

“Joliet Capital Expenditures”: The “Capital Expenditures” as defined in the Joliet Lease, collectively or
individually, as the context may require. 
 “Joliet Facility”: A “Facility” as defined in the Joliet Lease,
collectively or individually, as the context may require. 
 “Joliet Lease”: As defined in the definition of Other Leases.

 “Joliet Leased Property”: The “Leased Property” as defined in the Joliet Lease, collectively or individually,
as the context may require. 
 “Joliet Partner”: Des Plaines Development Holdings, LLC. 

“Land”: As defined in clause (a) of the first sentence of Section 1.1.

 “Landlord”: As defined in the preamble. 

“Landlord Indemnified Parties”: As defined in Section 21.1(i). 

  
 23 

 “Landlord MCI Financing”: As defined in Section 10.4(b). 

“Landlord Prohibited Person”: As defined in the MLSA. 

“Landlord REIT”: VICI Properties Inc., a Maryland corporation, the indirect parent of Landlord. 

“Landlord Tax Returns”: As defined in Section 4.1(a). 

“Landlord Work”: As defined in Section 10.5(e). 

“Landlord’s Enforcement Condition”: Either (i) there are no Permitted Leasehold Mortgagees or (ii) Landlord
has delivered to each Permitted Leasehold Mortgagee for which notice to Landlord has been properly provided pursuant to Section 17.1(b)(i) hereof, a copy of the applicable notice of default pursuant to Section 17.1(c) hereof and
the Right to Terminate Notice pursuant to Section 17.1(d) hereof, and (solely for purposes of this clause (ii)) either of the following occurred: 

(a) Either (1) no Permitted Leasehold Mortgagee has satisfied the requirements in Section 17.1(d) within the thirty (30) or
ninety (90) day periods, as applicable, described therein, or (2) a Permitted Leasehold Mortgagee satisfied the requirements in Section 17.1(d) prior to the expiration of the applicable period, but did not cure a default that is
required to be so cured by such Permitted Leasehold Mortgagee and such Permitted Leasehold Mortgagee discontinued efforts to cure the applicable default(s) thereby failing to satisfy the conditions for extending the termination date as provided in
Section 17.1(e) or otherwise failed at any time to satisfy the conditions for extending the termination date as provided in Section 17.1(e)(i); or 

(b) Both (1) this Lease is rejected in any bankruptcy, insolvency or dissolution proceeding or is terminated by Landlord following a
Tenant Event of Default, and (2) no Permitted Leasehold Mortgagee has acted in accordance with Section 17.1(f) hereof to obtain a New Lease prior to the expiration of the period described therein. 

“Landlord’s MCI Financing Proposal”: As defined in Section 10.4(a). 

“Landlord Specific Ground Lease Requirements”: As defined in Section 7.3(a). 

“Lease”: As defined in the preamble. 

“Lease Assumption Agreement”: As defined in Section 22.2(i). 

“Lease Foreclosure Transaction”: Either (i) an assignment pursuant to Section 22.2(i)(b) or (c), or
(ii) entry by any Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee into a New Lease in compliance in all respects with Section 17.1(f) and all other applicable provisions of this Lease. 

“Lease/MLSA Related Agreements”: Collectively, this Lease, the Other Leases, the MLSA, the Other MLSAs, the Transition
Services Agreement, the Other Transition Services Agreement, the Intercreditor Agreement and the Other Intercreditor Agreement. 

  
 24 

 “Lease Year”: The first Lease Year of the Term shall be the period commencing on
the Commencement Date and ending on the last day of the calendar month in which the first (1st) anniversary of the Commencement Date occurs, and each subsequent Lease Year shall be each period of twelve (12) full calendar months after the last
day of the prior Lease Year, except that the final Lease Year of the Term shall end on the Expiration Date. 
 “Leased
Improvements”: As defined in clause (c) of the first sentence of Section 1.1. 
 “Leased
Property”: As defined in Section 1.1. For the avoidance of doubt, the Leased Property includes all Alterations and Capital Improvements, provided, however, that the foregoing shall not affect or contradict the
provisions of this Lease which specify that Tenant shall be entitled to certain rights with respect to or benefits of the Tenant Capital Improvements as expressly set forth herein. Notwithstanding the foregoing, provisions of this Lease that provide
for certain benefits or rights to Tenant with respect to Tenant Material Capital Improvements, such as, by way of example only and not by way of limitation, the payment of the applicable insurance proceeds to Tenant due to a loss or damage of such
Tenant Material Capital Improvements pursuant to Section 14.1, shall remain in effect notwithstanding the preceding sentence. 

“Leased Property Tests”: Together, the Annual Minimum Per-Lease B&I Cap Ex
Requirement and the Triennial Minimum Cap Ex Requirement B. 
 “Leasehold Estate”: As defined in Section 17.1(a).

 “Legal Requirements”: All applicable federal, state, county, municipal and other governmental statutes, laws (including
securities laws), rules, policies, guidance, codes, orders, regulations, ordinances, permits, licenses, covenants, conditions, restrictions, judgments, decrees and injunctions, whether now or hereafter enacted and in force, as applicable to any
Person or to any Facility, including those (a) that affect either the Leased Property or any portion thereof and/or Tenant’s Property, all Capital Improvements and Alterations (including any Material Capital Improvements) or the
construction, use or alteration thereof, or otherwise in any way affecting the business operated or conducted thereat, as the context requires, and (b) which may (i) require repairs, modifications or alterations in or to the Leased
Property or any portion thereof and/or any of Tenant’s Property, (ii) without limitation of the preceding clause (i), require repairs, modifications or alterations in or to any portion of any Capital Improvements (including any Material
Capital Improvements), (iii) in any way adversely affect the use and enjoyment of any of the foregoing, or (iv) regulate the transport, handling, use, storage or disposal or require the cleanup or other treatment of any Hazardous
Substance. 
 “Letter of Credit”: An irrevocable, unconditional, clean sight draft letter of credit reasonably acceptable
to Landlord and Fee Mortgagee (as applicable) in favor of Landlord or, at Landlord’s direction, Fee Mortgagee and entitling Landlord or Fee Mortgagee (as applicable) to draw thereon based solely on a statement executed by an officer of Landlord
or Fee Mortgagee (as applicable) stating that it has the right to draw thereon under this Lease in a location in the United States reasonably acceptable to Landlord or Fee Mortgagee (as applicable), issued by a domestic Eligible Institution or the
U.S. agency or branch of a foreign Eligible Institution, and 

  
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upon which letter of credit Landlord or Fee Mortgagee (as applicable) shall have the right to draw in full: (a) if Landlord or Fee Mortgagee (as applicable) has not received at least thirty
(30) days prior to the date on which the then outstanding letter of credit is scheduled to expire, a notice from the issuing financial institution that it has renewed the applicable letter of credit; (b) thirty (30) days prior to the
date of termination following receipt of notice from the issuing financial institution that the applicable letter of credit will be terminated; and (c) thirty (30) days after Landlord or Fee Mortgagee (as applicable) has given notice to
Tenant that the financial institution issuing the applicable letter of credit ceases to either be an Eligible Institution or meet the rating requirement set forth above. 

“Licensing Event”: 

(a) With respect to Tenant, (i) a communication (whether oral or in writing) by or from any Gaming Authority to either Tenant or Manager
or any of their respective Affiliates (each, a “Tenant Party”) or to a Landlord Party (as defined below) or other action by any Gaming Authority that indicates that such Gaming Authority may find that the association of a Tenant
Party with Landlord is likely to (A) result in a disciplinary action relating to, or the loss of, inability to reinstate or failure to obtain, any Gaming License or any other rights or entitlements held or required to be held by Landlord or any
of its Affiliates (each, a “Landlord Party”) under any Gaming Regulations or (B) violate any Gaming Regulations to which a Landlord Party is subject; or (ii) a Tenant Party is required to be licensed, registered, qualified
or found suitable under any Gaming Regulations, and such Tenant Party does not remain so licensed, registered, qualified or found suitable or, after becoming so licensed, registered, qualified or found suitable, fails to remain so, and, solely for
purposes of determining whether a Tenant Event of Default has occurred under Section 16.1(l), the same causes cessation of Gaming activity at a Continuous Operation Facility and would reasonably be expected to have a material adverse effect
on the Facilities taken as a whole with the Joliet Facility); and 
 (b) With respect to Landlord, (i) a communication (whether oral or
in writing) by or from any Gaming Authority to a Landlord Party or to a Tenant Party or other action by any Gaming Authority that indicates that such Gaming Authority may find that the association of a Landlord Party with Tenant is likely to
(A) result in a disciplinary action relating to, or the loss of, inability to reinstate or failure to obtain, any Gaming License or any other rights or entitlements held or required to be held by a Tenant Party under any Gaming Regulations or
(B) violate any Gaming Regulations to which a Tenant Party is subject; or (ii) a Landlord Party is required to be licensed, registered, qualified or found suitable under any Gaming Regulations, and such Landlord Party does not remain so
licensed, registered, qualified or found suitable or, after becoming so licensed, registered, qualified or found suitable, fails to remain so, and, solely for purposes of determining whether a default has occurred under
Section 41.13 hereunder, the same causes cessation of Gaming activity at a Continuous Operation Facility and would reasonably be expected to have a material adverse effect on the Facilities taken as a whole with the Joliet
Facility). 
 “Liquor Authority”: As defined in Section 41.13. 

“Liquor Laws”: As defined in Section 41.13. 

  
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 “London Clubs”: Those certain assets described on Schedule 6 attached
hereto. 
 “London/Chester Properties”: Collectively, the London Clubs and the Chester Property. 

“Manager”: Non-CPLV Manager, LLC, a Delaware limited liability company, together with
its successors and permitted assigns, in its capacity as “Manager” under the MLSA. 
 “Market Capitalization”:
With respect to any Person, an amount equal to (i) the total number of issued and outstanding shares of Equity Interests of such Person on the date of determination multiplied by (ii) the arithmetic mean of the closing sale price per share
of such Equity Interests as reported in composite transactions for the principal securities exchange on which such Equity Interests are traded for the thirty (30) consecutive trading days (excluding any such trading day in which a material
suspension or limitation was imposed on trading on such securities exchange) immediately preceding the date of determination. If such Equity Interests are not so traded, are not so reported or such Person’s Market Capitalization is otherwise
not readily observable, such Person’s “Market Capitalization” for purposes of this Lease shall be its equity value based on a valuation by a valuation firm that is acceptable to both Landlord and Tenant and that is not an Affiliate of
either Landlord or Tenant. For the purposes of this definition, the number of issued and outstanding shares of Equity Interests of a person shall not include shares held (a) by a Subsidiary of such person or (b) by such person as treasury
stock or otherwise. 
 “Material Capital Improvement”: Any single or series of related Capital Improvements that would or
does (i) have a total budgeted or actual cost (as reasonably evidenced to Landlord) (excluding land acquisition costs) in excess of Fifty Million and No/100 Dollars ($50,000,000.00) and (ii) either (a) materially alter a Facility
(e.g., shoring, permanent framework reconfigurations), (b) expand a Facility (i.e., construction of material additions to existing Leased Improvements) or (c) add improvements to undeveloped portion(s) of the Land. 

“Material Leased Property”: Leased Property or Other Leased Property, or any portion thereof, having a value greater than
Fifty Million and No/100 Dollars ($50,000,000.00). 
 “Material London/Chester Property”: All or any portion of the
London/Chester Properties having a value greater than Fifty Million and No/100 Dollars ($50,000,000.00). 
 “Material
Sublease”: A Sublease (excluding a management agreement or similar agreement to operate but not occupy as a tenant a particular space at a Facility) under which the rent and/or fees and other payments payable by the Subtenant (or manager)
exceed Fifty Thousand and No/100 Dollars ($50,000.00) (which amount shall be increased by the Escalator on the first (1st) day of each Lease Year (commencing on the first (1st) day of the second (2nd) Lease Year)) per month. 

“Maximum Fixed Rent Term”: With respect to each Leased Property, the Maximum Fixed Rent Term as set forth on Schedule
3 attached hereto, as it may be extended in accordance with clause (c) of the definition of “Rent”. 

  
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 “Minimum Cap Ex Amount”: The Annual Minimum Cap Ex Amount, the Triennial Minimum
Cap Ex Amount A and/or the Triennial Minimum Cap Ex Amount B, as applicable. 
 “Minimum Cap Ex Reduction Amount”: In each
instance in which any Material Leased Property is removed from this Lease or any Other Leases (as applicable), Landlord disposes of a Facility and a third party Severance Lease is executed, Landlord disposes of all of the Leased Property and this
Lease is assigned to a third party Acquirer, an Other Lease (and all the Other Leased Property thereunder) is assigned to a third party Acquirer (as defined in such Other Lease) or Material London/Chester Property is disposed of, all as described in
the definitions of Annual Minimum Cap Ex Amount, Triennial Minimum Cap Ex Amount A and Triennial Minimum Cap Ex Amount B (as applicable), the product of (i) the applicable Minimum Cap Ex Amount or Triennial Allocated Minimum Cap Ex Amount B
Floor in effect immediately prior thereto, multiplied by (ii) a fraction, the numerator of which shall be equal to the portion of the EBITDAR of Tenant or the Other Tenant (as applicable) for the Trailing Test Period attributable to the
applicable Leased Property, Other Leased Property or London/Chester Properties (or portion of any thereof) (as applicable) being so removed or disposed of (as applicable), and the denominator of which shall be equal to the aggregate EBITDAR of
Tenant and Other Tenants for the Trailing Test Period attributable to all assets then included in the calculation of Capital Expenditures for purposes of the All Property Tests (with respect to the Annual Minimum Cap Ex Amount and the Triennial
Minimum Cap Ex Amount A) or the Leased Property Tests (with respect to the Triennial Minimum Cap Ex Amount B and the Triennial Allocated Minimum Cap Ex Amount B Floor) (including, for this purpose, the applicable Leased Property, Other Leased
Property or London/Chester Properties (or portion of any thereof) (as applicable) being so removed or disposed of (as applicable)). 

“Minimum Cap Ex Requirements”: The Annual Minimum Cap Ex Requirement, the Annual Minimum
Per-Lease B&I Cap Ex Requirement, the Triennial Minimum Cap Ex Requirement A and the Triennial Minimum Cap Ex Requirement B, as applicable. 

“Minimum Facilities Threshold”: (i) Not less than two thousand five hundred (2,500) rooms, one hundred thousand (100,000)
square feet of casino floor containing no less than one thousand three hundred (1,300) slot machines and one hundred (100) gaming tables, (ii) revenue of no less than Seventy-Five Million and No/100 Dollars ($75,000,000.00) per year is
derived from high limit VVIP and international gaming customers, (iii) extensive operated food and beverage outlets, and (iv) at least one (1) large entertainment venue; provided, however, that the foregoing clause (ii) may be
satisfied if the Qualified Replacement Manager has managed a property that satisfies the requirements of such clause (ii) within the immediately preceding two (2) years. 

“MLSA”: That certain Management and Lease Support Agreement (Non-CPLV) dated of even
date herewith by and among Guarantor, Manager, Affiliates of Manager, Tenant and Landlord, as amended, restated or otherwise modified from time to time. 

“Net Revenue”: The net sum of the following, without duplication, over the applicable time period of measurement:
(i) the amount received by Tenant (and its Subsidiaries) from patrons at the Facilities for gaming, less, (A) to the extent otherwise included in the 

  
 28 

 
calculation of Net Revenue, refunds and free promotional play provided pursuant to a rewards, marketing, and/or frequent users program (including rewards granted by Affiliates of Tenant) and
(B) amounts returned to patrons through winnings at the Facility (the net amount described in this clause (i), “Gaming Revenues”); plus (ii) the gross receipts of Tenant (and its Subsidiaries) for all goods and
merchandise sold, room revenues derived from hotel operations, food and beverages sold, the charges for all services performed, or any other revenues generated by or otherwise payable to Tenant (and its Subsidiaries) (including, without limitation,
use fees, retail and commercial rent, revenue from rooms, accommodations, food and beverage, and the proceeds of business interruption insurance) in, at or from the Facilities for cash, credit or otherwise (without reserve or deduction for
uncollected amounts), but excluding pass-through revenues collected by Tenant to the extent such amounts are remitted to the applicable third party entitled thereto (the net amounts described in this clause (ii), “Retail Sales”);
less (iii) to the extent otherwise included in the calculation of Net Revenue, the retail value of accommodations, merchandise, food and beverage and other services furnished to guests of Tenant at the Facilities without charge or at a
reduced charge (and, with respect to a reduced charge, such reduction in Net Revenue shall be equal to the amount of the reduction of such charge otherwise included in Net Revenue) (the amounts described in this clause (iii), “Promotional
Allowances”). Notwithstanding anything herein to the contrary, the following provisions shall apply with respect to the calculation of Net Revenue: 

(a) For purposes of calculating adjustments to Variable Rent, the following provisions shall apply: 

(1) Intentionally omitted. 

(2) In the event of expiration, cancellation or termination of any Ground Lease for any reason whatsoever whether voluntary or involuntary
(by operation of law or otherwise) prior to the expiration date of this Lease, including extensions and renewals granted thereunder, then, thereafter, the Net Revenue attributable to the portion of the Leased Property subject to such Ground Lease
shall not be included in the calculation of Net Revenue for the applicable base year, provided, that if Landlord (or any Fee Mortgagee) enters into a replacement lease with respect to substantially the same Ground Leased Property, then the Net
Revenue attributable to such expired, cancelled or terminated Ground Lease shall once again be included in the calculation of Net Revenue for the applicable base year. 

(3) If Tenant enters into a Sublease with a Subtenant that is not wholly-owned by Guarantor (such that, after entering into such Sublease
rather than the Gaming Revenues, Retail Sales and Promotional Allowances generated by the space covered by such Sublease being included in the calculation of Tenant’s Net Revenue, instead the revenue from such Sublease would be governed by
clause (b)(1) or (b)(2) below), then, thereafter, any Gaming Revenues, Retail Sales and Promotional Allowances that would otherwise be included in the calculation of Net Revenue for the applicable base year with respect to the applicable subleased
(or managed) space shall be excluded from the calculation of Net Revenue for the applicable base year, and the rent and/or fees and other consideration to be received by Tenant pursuant to such Sublease shall be substituted therefor. 

  
 29 

 (4) If Tenant assumes operation of space that in the applicable base year was operated under a
Sublease with a Subtenant that was not wholly-owned by Guarantor, or if all of the direct or indirect ownership interests in a Person that was a Subtenant in the applicable base year are acquired by Guarantor (in either case, such that after
entering into such Sublease revenue that would otherwise be included in Net Revenue for the applicable base year pursuant to clause (b)(1) or (b)(2) below is converted to revenue with respect to which Gaming Revenues, Retail Sales and Promotional
Allowances are included in Net Revenue for the applicable base year), then, thereafter, the rent and/or fees and other consideration received by Tenant pursuant to such Sublease that would otherwise be included in the calculation of Net Revenue for
the applicable base year shall be excluded from the calculation of Net Revenue for the applicable base year, and the Gaming Revenues, Retail Sales and Promotional Allowances to be received by Tenant pursuant to its operation of such space shall be
substituted therefor. 
 (5) Notwithstanding the foregoing, the adjustments provided for in clauses (a)(3) and (a)(4) above shall not be
implemented in the calculation of Net Revenue with respect to any transaction involving any space for which aggregate Gaming Revenues, Retail Sales and Promotional Allowances do not exceed Ten Million and No/100 Dollars ($10,000,000.00) in each
transaction and Fifteen Million and No/100 Dollars ($15,000,000.00) in the aggregate per Lease Year. 
 (b) Amounts received pursuant to
Subleases shall be included in Net Revenue as follows: 
 (1) With respect to any Sublease from Tenant to a Subtenant in which Guarantor
directly or indirectly owns less than fifty percent (50%) of the ownership interests, Net Revenue shall not include Gaming Revenues, Retail Sales or Promotional Allowances received by such Subtenant but shall include the rent and/or fees and all
other consideration received by Tenant pursuant to such Sublease. 
 (2) With respect to any Sublease from Tenant to a Subtenant in which
Guarantor directly or indirectly owns fifty percent (50%) or more of the ownership interests, but less than all of the ownership interests, Net Revenue shall not include Gaming Revenues, Retail Sales or Promotional Allowances received by such
Subtenant but shall include an amount equal to the greater of (x) the rent and/or fees and all other consideration actually received by Tenant for such Sublease from such Affiliate and (y) the rent and/or fees and other consideration that
would be payable under such Sublease if at arms-length, market rates. 
 (3) With respect to any Sublease from Tenant to a Subtenant that
is directly or indirectly wholly-owned by Guarantor, Net Revenue shall not include the rent and/or fees or any other consideration received by Tenant pursuant to such Sublease but shall include Gaming Revenues, Retail Sales or Promotional Allowances
received by such Subtenant. 
 (c) For the avoidance of doubt, gaming taxes and casino operating expenses (such as salaries, income taxes,
employment taxes, supplies, equipment, cost of goods and inventory, rent, office overhead, marketing and advertising and other general administrative costs) will not be deducted in arriving at Net Revenue. 

  
 30 

 (d) Net Revenue will be calculated on an accrual basis for purposes of this definition, as
required under GAAP. 
 “New Jersey Act”: As defined in Section 41.15. 

“New Jersey Facilities”: The Facilities identified on Exhibit A attached hereto that are located in the State of New Jersey.
Individually, each of the New Jersey Facilities shall be referred to herein as a “New Jersey Facility”. 
 “New Jersey
Fair Market Value”: As defined in Section 41.15. 
 “New Jersey Purchase Notice”: As
defined in Section 41.15. 
 “New Lease”: As defined in Section 17.1(f). 

“Non-Consented Lease Termination”: As defined in the MLSA. 

“Non-Core Tenant Competitor”: A Person that is engaged or is an Affiliate of a Person
that is engaged in the ownership or operation of a Gaming business so long as (i) such Person’s consolidated annual gross gaming revenues do not exceed Five Hundred Million and No/100 Dollars ($500,000,000.00) (which amount shall be
increased by the Escalator on the first (1st) day of each Lease Year, commencing with the second (2nd) Lease Year) and (ii) such Person does not, directly or indirectly, own or operate a Gaming Facility within thirty (30) miles of a Gaming
Facility directly or indirectly owned or operated by CEC. For purposes of the foregoing, ownership of the real estate and improvements where a Gaming business is conducted, without ownership of the Gaming business itself, shall not be deemed to
constitute the ownership of a Gaming business. 
 “Notice”: A notice given in accordance with Article XXXV. 

“Notice of Termination”: As defined in Section 17.1(f). 

“NRS”: As defined in Section 41.14. 

“OFAC”: As defined in Article XXXIX. 

“Omnibus Agreement”: That certain Second Amended and Restated Omnibus Agreement and Enterprise Services Agreement, dated as
of the Commencement Date, by and among Caesars Enterprise Services, LLC, CEOC, Caesars Entertainment Resort Properties LLC, Caesars Growth Properties Holding, LLC, Caesars License Company, LLC, and Caesars World LLC, as further amended, restated,
supplemented or otherwise modified from time to time, subject to Section 20.16 of the MLSA. 
 “Other Capital
Expenditures”: The “Capital Expenditures” as defined in each of the Other Leases, collectively or individually, as the context may require. 

“Other Facility”: A “Facility” as defined in each of the Other Leases, collectively or individually, as the context
may require. 

  
 31 

 “Other Intercreditor Agreement”: The “Intercreditor Agreement” as
defined in each of the Other Leases, collectively or individually, as the context may require. 
 “Other Material Capital
Improvements”: The “Material Capital Improvements” as defined in each of the Other Leases, collectively or individually, as the context may require. 

“Other Leases”: Collectively or individually, as the context may require, (i) that certain Lease (CPLV), dated as of the
date hereof, by and between various Affiliates of Landlord, as “Landlord,” and various Affiliates of Tenant, as “Tenant,” with respect to various other Gaming Facilities and other real property assets, as amended, restated or
otherwise modified from time to time (the “CPLV Lease”), and (ii) that certain Lease (Joliet), dated as of the date hereof, by and between Harrah’s Joliet Landco LLC, as “Landlord,” and Des Plaines Development
Limited Partnership, as “Tenant,” with respect to the Gaming Facility known as Harrah’s Joliet, located in Joliet, Illinois, as amended, restated or otherwise modified from time to time (the “Joliet Lease”). 

“Other Leased Property”: The “Leased Property” as defined in each of the Other Leases, collectively or
individually, as the context may require. 
 “Other MLSAs”: Collectively or individually, as the context may require,
(i) that certain Management and Lease Support Agreement (CPLV), dated as of the date hereof, by and among Guarantor, Manager, Affiliates of Manager, Affiliates of Tenant and an Affiliate of Landlord, as amended, restated or otherwise modified
from time to time, and (ii) that certain Management and Lease Support Agreement (Joliet), dated as of the date hereof, by and among Guarantor, Manager, Affiliates of Manager, an Affiliate of Tenant and an Affiliate of Landlord, as amended,
restated or otherwise modified from time to time. 
 “Other Tenants”: The “Tenant” as defined in each of the
Other Leases, collectively or individually, as the context may require. 
 “Other Tenant Capital Improvements”: The
“Tenant Capital Improvements” as defined in each of the Other Leases, collectively or individually, as the context may require. 

“Other Transition Services Agreement”: The “Transition Services Agreement” as defined in each of the Other Leases,
collectively or individually, as the context may require. 
 “Overdue Rate”: On any date, a rate equal to five (5)
percentage points above the Prime Rate, but in no event greater than the maximum rate then permitted under applicable law. 

“Parent Entity”: With respect to any Person, any corporation, association, limited partnership, limited liability company or
other entity which at the time of determination (a) owns or controls, directly or indirectly, more than fifty percent (50%) of the total voting power of shares of capital stock (without regard to the occurrence of any contingency) entitled to
vote in the election of directors, managers or trustees of such Person, (b) owns or controls, directly or indirectly, more than fifty percent (50%) of the capital accounts, distribution rights, total equity and voting interests or general and
limited partnership interests, as applicable, of such Person, whether in the form of membership, general, special or limited partnership interests or otherwise, or (c) is the controlling general partner or managing member of, or otherwise
controls, such entity. 

  
 32 

 “Partial Taking”: As defined in Section 15.1(b). 

“Party” and “Parties”: Landlord and/or Tenant, as the context requires. 

“Patriot Act Offense”: Any violation of the criminal laws of the United States of America or of any of the several states, or
that would be a criminal violation if committed within the jurisdiction of the United States of America or any of the several states, relating to terrorism or the laundering of monetary instruments, including any offense under (A) the criminal
laws against terrorism, (B) the criminal laws against money laundering, (C) the Bank Secrecy Act, as amended, (D) the Money Laundering Control Act of 1986, as amended, or (E) the USA Patriot Act. “Patriot Act
Offense” also includes the crimes of conspiracy to commit, or aiding and abetting another to commit, a Patriot Act Offense. 

“Payment Date”: Any due date for the payment of the installments of Rent or Additional Charges payable under this Lease. 

“Permitted Exception Documents”: (i) Property Documents (x) that are listed on the title policies described on
Exhibit J attached hereto, or (y) that (a) Landlord entered into, as a party thereto, after the date hereof and (b) Tenant is required hereunder to comply with, and (ii) Specified Subleases (together with any renewals or
modifications thereof made in accordance with the express terms thereof), but excluding Specified Subleases as to which the applicable Subtenant is CEOC, CEC, Manager or any of their respective Affiliates. For avoidance of doubt, the Permitted
Exception Documents do not include any Ground Leases. 
 “Permitted Leasehold Mortgage”: Any mortgage, pledge agreement,
security agreement, assignment of leases and rents, fixture filing or similar document creating or evidencing a lien on Tenant’s leasehold interest (or subleasehold interest) in all of the Leased Property subject to exclusions with respect to
items that are not capable of being mortgaged and that, in the aggregate, are de miminis (or all the direct or indirect interest therein at any tier of ownership, including without limitation, a lien on direct or indirect Equity Interests in
Tenant), granted to or for the benefit of a Permitted Leasehold Mortgagee as security for the indebtedness of Tenant or its Affiliates. 

“Permitted Leasehold Mortgagee”: The lender or noteholder or any agent or trustee or similar representative on behalf of one
or more lenders or noteholders or other investors in connection with indebtedness secured by a Permitted Leasehold Mortgage, in each case as and to the extent such Person has the power to act (subject to obtaining the requisite instructions) on
behalf of all lenders, noteholders or investors with respect to such Permitted Leasehold Mortgage; provided such lender or noteholder or any agent or trustee or similar representative (but not necessarily the lenders, noteholders or other investors
which it represents) is a banking or other institution that in the ordinary course acts as a lender, agent or trustee or similar representative (in each case, on behalf of a group of lenders or noteholders) in respect of financings of similar size
as the Tenant’s Initial Financing; and provided, further, that, in all events, (i) no agent, trustee or similar representative shall be Tenant, CEOC, CEC, Guarantor or 

  
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Manager or any of their Affiliates, respectively (each, a “Prohibited Leasehold Agent”), and (ii) no (A) Prohibited Leasehold Agent, (excluding any Person that is a Prohibited
Leasehold Agent as a result of its ownership of publicly-traded shares in any Person), or (B) entity that owns, directly or indirectly (but excluding any ownership of publicly-traded shares in CEC or any of its Affiliates), higher than the
lesser of (1) ten percent (10%) of the Equity Interests in Tenant or (2) a Controlling legal or beneficial interest in Tenant, may collectively hold an amount of the indebtedness secured by a Permitted Leasehold Mortgage higher than the
lesser of (x) twenty-five percent (25%) thereof and (y) the principal amount thereof required to satisfy the threshold for requisite consenting lenders to amend the terms of such indebtedness that affect all lenders thereunder. 

“Permitted Leasehold Mortgagee Designee”: An entity (other than a Prohibited Leasehold Agent) designated by a Permitted
Leasehold Mortgagee and acting for the benefit of the Permitted Leasehold Mortgagee, or the lenders, noteholders or investors represented by the Permitted Leasehold Mortgagee. 

“Permitted Operation Interruption”: (i) A material Casualty Event or Condemnation and reasonable periods of restoration of
the Leased Property following same, (ii) periods of an Unavoidable Delay, and (iii) provided, subject to the terms of the MLSA, Manager is not an Affiliate of Tenant, interruptions arising from Manager’s default or breach of its
obligations under the MLSA. 
 “Person”: Any individual, corporation, limited liability company, partnership, joint
venture, association, joint stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other form of entity. 

“Preceding Lease Year”: As defined in clause (c)(i) of the definition of “Rent.” 

“Preliminary Studies”: As defined in Section 10.4(a). 

“Primary Intended Use”: (i) Hotel and resort and related uses, (ii) gaming and/or pari-mutuel use, including, without
limitation, horsetrack, dogtrack and other similarly gaming-related sporting uses, (iii) ancillary retail and/or entertainment use, (iv) such other uses required under any Legal Requirements (including those mandated by any applicable
regulators), (v) such other ancillary uses, but in all events consistent with the current use of the Leased Property or any portion thereof as of the Commencement Date or with then-prevailing hotel, resort and gaming industry use, and/or
(vii) such other use as shall be approved by Landlord from time to time in its reasonable discretion. 
 “Prime Rate”:
On any date, a rate equal to the annual rate on such date publicly announced by JPMorgan Chase Bank, N.A. (provided that if JPMorgan Chase Bank, N.A. ceases to publish such rate, the Prime Rate shall be determined according to the comparable prime
rate of another comparable nationally known money center bank reasonably selected by Landlord), to be its prime rate for ninety (90)-day unsecured loans to its corporate borrowers of the highest credit
standing, but in no event greater than the maximum rate then permitted under applicable law. 
 “Prior Months”: As defined
in the definition of CPI Increase. 

  
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 “Prohibited Leasehold Agent”: As defined in the definition of Permitted
Leasehold Mortgagee. 
 “Prohibited Persons”: As defined in Article XXXIX. 

“Promotional Allowances”: As defined in the definition of “Net Revenue.” 

“PropCo”: VICI Properties L.P., a Delaware limited partnership. 

“PropCo 1”: VICI Properties 1 LLC, a Delaware limited liability company. 

“Propco Opportunity Transaction”: As defined in the ROFR Agreement. 

“Propco ROFR”: As defined in the ROFR Agreement. 

“Propco TRS”: As defined in Section 1.1. 

“Property Documents”: Reciprocal easement and/or operating agreements, easements, covenants, exceptions, conditions and
restrictions in each case affecting the Leased Property or any portion thereof, but excluding, in any event, all Fee Mortgage Documents. 

“Property Specific Guest Data”: Any and all Guest Data, to the extent in or under the possession or control of Tenant,
Services Co, Manager, or their respective Affiliates, identifying, describing, concerning or generated by prospective, actual or past guests, website visitors and/or customers of the Facilities, including retail locations, restaurants, bars, casino
and Gaming facilities, spas and entertainment venues therein, but excluding, in all cases, (i) Guest Data that has been integrated into analytics, reports, or other similar forms in connection with the Total Rewards Program or any other
customer loyalty program of Services Co and its Affiliates (it being understood that this exception shall not apply to such Guest Data itself, i.e., in its original form prior to integration into such analytics, reports, or other similar forms in
connection with the Total Rewards Program or other customer loyalty program), (ii) Guest Data that concerns facilities that are owned or operated by CEC or its Affiliates, other than the Facilities and that does not concern the Facilities, and
(iii) Guest Data that concerns Proprietary Information and Systems (as defined in the MLSA) and is not specific to any Facility. 

“Property Specific IP”: All Intellectual Property that is both (i) specific to the Facilities and (ii) currently or
hereafter owned by CEOC or any of its Subsidiaries, including the Intellectual Property set forth on Exhibit H, attached hereto. 

“Qualified Replacement Guarantor”: A Person that satisfies the following requirements: (a) such Person shall Control or
be under common Control with the Qualified Transferee; (b) such Person shall have total EBITDA for the most recently ended period of four consecutive fiscal quarters for which financial statements are available (which shall have been prepared
by a certified public accounting firm of national standing and shall cover a period beginning no earlier than eighteen (18) months prior to the date of determination) (including such financial statements that are not publicly available) of at
least Nine Hundred Million and No/100 Dollars ($900,000,000.00) immediately before giving effect to the subject transfer; (c) such Person shall be solvent and have a Market Capitalization of not less than Four Billion and

  
 35 

 
No/100 Dollars ($4,000,000,000.00); (d) such Person (i) in the case of a Person with a Market Capitalization of less than Eight Billion and No/100 Dollars ($8,000,000,000.00), has a Total
Leverage Ratio of less than or equal to 6.25:1.00 and a Total Net Leverage Ratio of less than or equal to 5.25:1.00, in each case, immediately before giving effect to the subject transfer or (ii) in the case of a Person with a Market
Capitalization greater than or equal to Eight Billion and No/100 Dollars ($8,000,000,000.00), has a Total Leverage Ratio of less than or equal to 7.25:1.00 and a Total Net Leverage Ratio of less than or equal to 6.25:1.00, in each case, immediately
before giving effect to the subject transfer; (e) in the aggregate, (x) such Person’s assets located in the United States, (y) such Person’s Controlled Subsidiaries incorporated in, or organized under the laws of, the United
States or any state or territory thereof or the District of Columbia (“Domestic Subsidiaries”) that are owned directly by such Person or by other Controlled Domestic Subsidiaries of such Person (provided, that, to the extent such
Subsidiaries are not wholly owned by such Person, then unless such Subsidiaries executed joinders to the Replacement Guaranty, for purposes of clause (i) below (but not, for the avoidance of doubt, clause (ii) below), the EBITDA generated
by such Subsidiary shall be limited to such Person’s pro rata ownership interests in such Subsidiary), and (z) assets located in the United States owned directly or indirectly by such Person’s Subsidiaries that are not Domestic
Subsidiaries so long as such non-Domestic Subsidiaries have executed joinders to the Replacement Guaranty, shall (i) generate EBITDA for the most recently ended period of four consecutive fiscal quarters
for which financial statements are available (which shall have been prepared by a certified public accounting firm of national standing and shall cover a period beginning no earlier than eighteen (18) months prior to the date of determination)
of at least Five Hundred Million and No/100 Dollars ($500,000,000.00) and (ii) have a Total Leverage Ratio of less than or equal to 6.75:1.00 and a Total Net Leverage Ratio of less than or equal to 5.75:1.00, in each case in this clause (e),
immediately before giving effect to the subject transfer; and (f) such Person and its equity holders will comply with all customary “know your customer” requirements of any Fee Mortgagee. Any Qualified Replacement Guarantor that is
not organized in the United States (and any Affiliates thereof that executed joinders to the guaranty) shall consent to jurisdiction of, and venue in, New York courts with respect to any action or proceeding with respect to this Lease, the MLSA, any
Other Lease, any Other MLSA and any other Lease/MLSA Related Agreements including any Replacement Guaranty. For purposes of hereof, a Person shall be “solvent” if such Person shall (i) not be “insolvent” as such term is
defined in Section 101 of title 11 of the United States Code, (ii) be generally paying its debts (other than those that are in bona fide dispute) when they become due, and (iii) be able to pay its debts as they become due. 

“Qualified Replacement Manager”: A Person that manages (or is under the Control of or common Control with an Affiliate that
manages) a casino resort property (other than the Leased Property) that (i) satisfies the Minimum Facilities Threshold, (ii) has gross revenues of not less than Seven Hundred Fifty Million and No/100 Dollars ($750,000,000.00) per year for
each of the preceding three (3) years as of the date of determination, and (iii) on the date of determination, is at least of comparable standard of quality as the Leased Property. By way of example only, and without limitation, as of the
date of this Lease, each of the following casino resort properties satisfies the requirements of clause (iii) of the foregoing sentence: Bellagio, Aria, Venetian (Las Vegas), Palazzo, Wynn (Las Vegas), Encore, City of Dreams (Macau), Galaxy
Macau, Sands Cotai, Venetian Macau, MGM Grand Macau, Wynn Macau, and Marina Bay Sands (Singapore). At the time of appointment, such Person (a) shall not be subject to a bankruptcy, insolvency or similar proceeding, (b) shall have never
been convicted of, or pled 

  
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guilty or no contest to, a Patriot Act Offense and shall not be on any Government List, (c) shall not be, and shall not be controlled by, an Embargoed Person or a person that has been found
“unsuitable,” for any reason, by any applicable Gaming Authority, (d) shall have not been the subject of a material governmental or regulatory investigation which resulted in a conviction for criminal activity involving moral
turpitude, (e) shall have not been found liable pursuant to a non-appealable judgment in a civil proceeding for attempting to hinder, delay or defraud creditors, (f) shall have all required licenses
and approvals required under applicable law (including Gaming Regulations), including all required Gaming Licenses for itself, its officers, directors, and Affiliates (including officers and directors of its Affiliates) to manage the Facility, and
(g) shall not be a Landlord Prohibited Person. 
 “Qualified Transferee”: A transferee that satisfies all of the
following requirements: (a) such transferee, unless the Qualified Replacement Guarantor is CEC, (1) has, collectively with the Qualified Replacement Guarantor, a Market Capitalization (exclusive of the Leased Property) of no less than Four
Billion and No/100 Dollars ($4,000,000,000.00), (2) has or is Controlled by a Person that has demonstrated expertise in owning or operating real estate or gaming properties and (3) shall Control Tenant and shall Control, be Controlled by or be
under common Control with Qualified Replacement Guarantor; (b) such transferee and all of its applicable officers, directors, Affiliates (including the officers and directors of its Affiliates), to the extent required under applicable Gaming
Regulations or other Legal Requirements, (i) are licensed and certified by applicable Gaming Authorities and hold all required Gaming Licenses to operate the Facility in accordance herewith and (ii) are otherwise found suitable to lease
the Leased Property in accordance herewith; (c) such transferee has not been the subject of a material governmental or regulatory investigation which resulted in a conviction for criminal activity involving moral turpitude and has not been
found liable pursuant to a non-appealable judgment in a civil proceeding for attempting to hinder, delay or defraud creditors; (d) such transferee has never been convicted of, or pled guilty or no contest
to, a Patriot Act Offense and is not on any Government List; (e) such transferee has not been the subject of a voluntary or involuntary (to the extent the same has not been discharged) bankruptcy proceeding during the prior five (5) years
from the applicable date of determination; (f) such transferee is not, and is not Controlled by an Embargoed Person or a person that has been found “unsuitable” for any reason or has had any application for a Gaming License withdrawn
“with prejudice” by any applicable Gaming Authority; (g) such transferee and its equity holders comply with any Fee Mortgagee’s customary “know your customer” requirements; (h) such transferee shall not be a
Landlord Prohibited Person; and (i) such transferee is not associated with a person who has been found “unsuitable”, denied a Gaming License or otherwise precluded from participation in the Gaming Industry by any Gaming Authority
where such association may adversely affect any of Landlord’s or its Affiliates’ Gaming Licenses or Landlord’s or its Affiliates’ then-current standing with any Gaming Authority; provided, however, so long as CEC remains the
Guarantor and a wholly-owned subsidiary of CEC remains the Manager hereunder, such transferee shall not be required to satisfy requirement (a) above to be deemed a Qualified Transferee hereunder. 

“Refinancing”: As defined in Section 13.10(a). 

“Rejected ROFR Property”: Any ROFR Property located outside of Las Vegas, Nevada, that was the subject of a Propco
Opportunity Transaction pursuant to the ROFR Agreement and with respect to which (a) either (i) Propco waived (or was deemed to have 

  
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waived) the Propco ROFR, or (ii) Propco exercised the Propco ROFR but a ROFR Lease with respect to such ROFR Property was not executed following the conclusion of the procedures set forth in
Section 3(e) of the ROFR Agreement, and (b) an Affiliate of CEC subsequently consummated the Propco Opportunity Transaction without Propco’s (or its Affiliates’) involvement. 

“Renewal Notice”: As defined in Section 1.4. 

“Renewal Term”: As defined in Section 1.4. 

“Renewal Term Decrease”: As defined in clause (c)(ii)(B) of the definition of “Rent.” 

“Renewal Term Increase”: As defined in clause (c)(ii)(A) of the definition of “Rent.” 

“Rent”: An annual amount payable as provided in Article III, calculated as follows: 

(a) For the first seven (7) Lease Years, Rent shall be equal to Four Hundred Thirty-Three Million Three Hundred Thousand and No/100
Dollars ($433,300,000.00) per Lease Year, as adjusted annually as set forth in the following sentence. On each Escalator Adjustment Date during the sixth (6th) through and including the
seventh (7th) Lease Years, the Rent payable for such Lease Year shall be adjusted to be equal to the Rent payable for the immediately preceding Lease Year, multiplied by the Escalator. For
purposes of clarification, there shall be no Variable Rent (defined below) payable during the first seven (7) Lease Years. 
 (b) From
and after the commencement of the eighth (8th) Lease Year, until the Initial Stated Expiration Date, annual Rent shall be comprised of both a base rent component (“Base Rent”) and a variable rent component (“Variable
Rent”), each such component of Rent calculated as provided below: 
 (i) Base Rent shall equal (w) for the
eighth (8th) Lease Year, the product of seventy percent (70%) of Rent in effect as of the last day of the seventh (7th) Lease Year, multiplied by the Escalator, (x) for the ninth (9th) and tenth (10th) Lease Years, the Base Rent payable for the
immediately preceding Lease Year, as applicable, multiplied by the Escalator in each case, (y) for the eleventh (11th) Lease Year, the product of eighty percent (80%) of Rent in effect as of the last day of the tenth (10th) Lease Year,
multiplied by the Escalator, and (z) for each Lease Year from and after the commencement of the twelfth (12th) Lease Year until the Initial Stated Expiration Date, the Base Rent payable for the immediately preceding Lease Year, as applicable,
multiplied by the Escalator in each case. 
 (ii) Variable Rent shall be calculated as further described in this clause
(b)(ii). Throughout the Term, Variable Rent shall not be subject to the Escalator. 
 (A) For each Lease Year from and after
commencement of the eighth (8th) Lease Year through and including the end of the tenth (10th) Lease 

  
 38 

 
Year (the “First Variable Rent Period”), Variable Rent shall be a fixed annual amount equal to thirty percent (30%) of the Rent for the seventh (7th) Lease Year (such
amount, the “Variable Rent Base”), adjusted as follows (such resulting annual amount being referred to herein as “Year 8-10 Variable Rent”): 

(x) in the event that the annual Net Revenue for the Fiscal Period ending immediately prior to the end of the seventh (7th) Lease Year (the
“First VRP Net Revenue Amount”) exceeds the Base Net Revenue Amount (any such excess, the “Year 8 Increase”), the Year 8-10 Variable Rent shall equal the Variable Rent
Base increased by an amount equal to the product of (a) nineteen and one-half percent (19.5%) and (b) the Year 8 Increase; or 

(y) in the event that the First VRP Net Revenue Amount is less than the Base Net Revenue Amount (any such difference, the “Year
8 Decrease”), the Year 8-10 Variable Rent shall equal the Variable Rent Base decreased by an amount equal to the product of (a) nineteen and one-half
percent (19.5%) and (b) the Year 8 Decrease. 
 (B) For each Lease Year from and after the commencement of the eleventh
(11th) Lease Year until the Initial Stated Expiration Date (the “Second Variable Rent Period”), Variable Rent shall be equal to a fixed annual amount equal to twenty percent (20%) of the Rent for the tenth (10th) Lease Year
(such amount, the “Second Variable Rent Base”), adjusted as follows (such resulting annual amount being referred to herein as the “Year 11-15 Variable Rent”): 

(x) in the event that the annual Net Revenue for the Fiscal Period ending immediately prior to the end of the tenth (10th) Lease Year
exceeds the First VRP Net Revenue Amount (any such excess, the “Year 11 Increase”), the Year 11-15 Variable Rent shall equal the Year 8-10 Variable Rent
increased by an amount equal to the product of (a) thirteen percent (13%) and (b) the Year 11 Increase; or 
 (y) in the event
that the annual Net Revenue for the Fiscal Period ending immediately prior to the end of the tenth (10th) Lease Year is less than the First VRP Net Revenue Amount (any such difference, the “Year 11 Decrease”), the Year 11-15 Variable Rent shall equal the Year 8-10 Variable Rent decreased by an amount equal to the product of (a) thirteen percent (13%) and (b) the Year 11 Decrease.

 (c) Rent for each Renewal Term shall be calculated as follows: 

(i) Subject to clause (c)(iii) below, Base Rent for the first (1st) Lease Year of such Renewal Term shall be adjusted to be
equal to the applicable annual Fair Market Base Rental Value; provided that (A) in no event will the Base Rent be less than the Base Rent in effect as of the last day of the Lease Year immediately preceding the

  
 39 

 
commencement of such Renewal Term (such immediately preceding year, the respective “Preceding Lease Year”), (B) no such adjustment shall cause Base Rent to be increased by more
than ten percent (10%) of the Base Rent in effect as of the last day of the Preceding Lease Year and (C) such Fair Market Base Rental Value shall be determined as provided in Section 34.1. On each Escalator Adjustment Date during
such Renewal Term, the Base Rent payable for such Lease Year shall be equal to the Base Rent payable for the immediately preceding Lease Year, multiplied by the Escalator. 

(ii) Subject to clause (c)(iii) below, Variable Rent for each Lease Year during such Renewal Term (for each Renewal Term, the
“Renewal Term Variable Rent Period”) shall be equal to the Variable Rent in effect as of the last day of the Preceding Lease Year, adjusted as follows: 

(A) in the event that the annual Net Revenue for the Fiscal Period ending immediately prior to the end of the Preceding Lease
Year exceeds the annual Net Revenue for the Fiscal Period ending immediately prior to the Lease Year five (5) years prior to the Preceding Lease Year (i.e., (x) in respect of the first (1st) Renewal Term, the tenth (10th) Lease Year, and
(y) in respect of each subsequent Renewal Term, the Lease Year immediately preceding the first (1st) Lease Year of the immediately preceding Renewal Term) (any such excess, the respective “Renewal Term Increase”), the Variable
Rent for such Renewal Term shall equal the Variable Rent in effect as of the last day of the Preceding Lease Year increased by an amount equal to the product of (a) thirteen percent (13%) and (b) such Renewal Term Increase; or 

(B) in the event that the annual Net Revenue for the Fiscal Period ending immediately prior to the end of the Preceding Lease
Year is less than the annual Net Revenue for the Fiscal Period ending immediately prior to the Lease Year five (5) years prior to the Preceding Lease Year (i.e., (x) in respect of the first (1st) Renewal Term, the tenth (10th) Lease Year
and (y) in respect of each subsequent Renewal Term, the Lease Year immediately preceding the first (1st) Lease Year of the immediately preceding Renewal Term) (any such difference, the respective “Renewal Term Decrease”), the
Variable Rent for such Renewal Term shall equal the Variable Rent in effect as of the last day of the Preceding Lease Year decreased by an amount equal to the product of (a) thirteen percent (13%) and (b) such Renewal Term Decrease. 

(iii) Notwithstanding anything to the contrary set forth in clauses (c)(i) or (c)(ii) above, with respect to any Renewal Term
that would cause the Term to extend beyond the expiration of the Maximum Fixed Rent Term (after taking into account Maximum Fixed Rent Term extensions, if any, pursuant to clause (c)(iv) below) for any Leased Property (each, an “Excluded
Renewal Property”), Rent for such Renewal Term shall be equal to the sum of: (x) the Base Rent as calculated in accordance with clause (c)(i) above (including, to the extent applicable, the adjustments provided in clauses (c)(i)(A) and
(c)(i)(B) above), plus (y) the Variable Rent as calculated in accordance with clause (c)(ii) above; minus (z) an amount equal to the sum of the Rent Reduction Amounts with respect to each Excluded Renewal Property. 

  
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 (iv) Prior to delivery of any Renewal Notice for any Renewal Term that would
cause the Term through such Renewal Term to exceed the Maximum Fixed Rent Term for any Leased Property, if Tenant obtains an appraisal reasonably satisfactory to Landlord, prepared by an appraiser reasonably satisfactory to Landlord, which appraisal
concludes that, based on the condition of the Leased Property at the time of such appraisal, the expected useful life of such Leased Property (measured from the Commencement Date) exceeds one hundred twenty-five percent (125%) of the Term through
such Renewal Term, the Maximum Fixed Rent Term for such Leased Property shall be extended through the end of such Renewal Term and thereafter for the longest fixed rent term that would be supported by such appraisal. 

Notwithstanding anything herein to the contrary, from and after the date on which any ROFR Property becomes a Rejected ROFR Property, solely for purposes of
calculating Variable Rent in accordance herewith, the Net Revenue associated with each applicable Affected Facility thereafter shall be subject to a floor equal to the Net Revenue for such Affected Facility for the calendar year immediately prior to
the later of (i) the year in which CEC or its Affiliate acquires or commences operating the Rejected ROFR Property and (ii) the year in which the Rejected ROFR Property first opens for business to the public. 

Notwithstanding anything herein to the contrary, (i) but subject to clause (c)(iii) above and any reduction in Rent by the Rent Reduction Amount pursuant
to and in accordance with the terms of this Lease, in no event shall annual Base Rent during any Lease Year after the seventh (7th) Lease Year be less than seventy percent (70%) of the Rent in the seventh (7th) Lease Year, and (ii) in no event
shall the Variable Rent be less than Zero Dollars ($0.00). 
 If any Leased Property or component thereof is transferred or deemed to be transferred to the
Southern Indiana Barge TRS pursuant to Section 1.1, the Rent shall be appropriately increased so that the amount of such Rent, reduced by the amount of all U.S. federal income taxes payable by the Southern Indiana Barge TRS
with respect to the receipt of Rent (including any U.S. federal income taxes payable in respect of the adjustment to Rent described in this sentence) shall equal the amount of Rent which Landlord would otherwise be entitled to receive in respect of
the Leased Property or component thereof transferred or deemed to be transferred to the Southern Indiana Barge TRS; provided, however, that Landlord and Southern Indiana Barge TRS shall use commercially reasonable efforts, at no
material cost or expense to Landlord, Southern Indiana Barge TRS or their respective Affiliates, to take appropriate measures to mitigate the amount of U.S. federal income taxes payable by the Southern Indiana Barge TRS with respect to the receipt
of Rent and otherwise. 
 “Rent Reduction Amount”: (i) With respect to the Base Rent, a proportionate reduction of Base
Rent, which proportionate amount shall be determined by comparing (1) the EBITDAR of the Leased Property for the Trailing Test Period versus (2) the EBITDAR of the Leased Property for the Trailing Test Period calculated to remove the
EBITDAR attributable to the portion of the Leased Property affected by the Partial Taking or that is being removed from this Lease or otherwise excluded from the determination of Rent (as applicable) and (ii) with respect to Variable Rent, a
proportionate reduction of Variable Rent calculated in the same manner as set forth with respect to Base Rent above. Following the application of the Rent Reduction Amount to the Rent hereunder, for purposes of calculating any applicable adjustments

  
 41 

 
to Variable Rent based on increases or decreases in Net Revenue, such calculations of Net Revenue shall exclude Net Revenue attributable to the portion of the Leased Property affected by the
Partial Taking or that was removed from this Lease or otherwise excluded from the determination of Rent (even if such portion of the Leased Property had not yet been affected by the Partial Taking nor removed from this Lease as of the applicable
Lease Year for which Net Revenue is being measured). 
 “Replacement Guaranty”: A guaranty made by a Qualified Replacement
Guarantor which shall contain provisions, terms and conditions similar in substance to the provisions, terms and conditions set forth in Article 17 of the MLSA and all such other portions of the MLSA that comprise the Lease Guaranty (as such term is
defined in the MLSA). 
 “Replacement Management Agreement”: A management agreement with respect to the management of the
Facilities, between a Qualified Replacement Manager and a Qualified Transferee, that provides for the management of the Leased Property on terms and conditions not materially less favorable to Tenant (and the Leased Property), (i) with respect to a
Qualified Replacement Manager that is an Affiliate of the Qualified Transferee, than as provided in the MLSA, or, (ii) with respect to a Qualified Replacement Manager that is not an Affiliate of the Qualified Transferee, than would be obtained
in an arm’s-length management agreement with a third party, and, in all events the provisions, terms and conditions thereof shall not be intended to or designed to frustrate, vitiate or reduce the payment
of Variable Rent or the other provisions of this Lease. 
 “Reporting Subsidiary”: Any entity required by GAAP to be
consolidated for financial reporting purposes by a Person, regardless of ownership percentage. 
 “Representatives”: With
respect to any Person, such Person’s officers, employees, directors, accountants, attorneys and other consultants, experts or agents of such Person, and actual or prospective arrangers, underwriters, investors or lenders with respect to
indebtedness or Equity Interests that may be issued by such Person, to the extent that any of the foregoing actually receives non-public information hereunder. In addition, and without limitation of the
foregoing, the term “Representatives” shall include, (a) in the case of Landlord, PropCo 1, PropCo, Landlord REIT and any Affiliate thereof, and (b) in the case of Tenant, CEOC, CEC and any Affiliate thereof. 

“Required Capital Expenditures”: The applicable Capital Expenditures required to satisfy the Minimum Cap Ex Requirements.

 “Restricted Area”: The geographical area that at any time during the Term is within a thirty (30) mile radius of
the Leased Property. 
 “Retail Sales”: As defined in the definition of “Net Revenue.” 

“Right to Terminate Notice”: As defined in Section 17.1(d). 

“ROFR Agreement”: That certain Right of First Refusal Agreement, dated as of the date hereof, by and between CEC and Propco.

  
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 “ROFR Lease”: As defined in the ROFR Agreement. 

“ROFR Property”: As defined in the ROFR Agreement. 

“SEC”: The United States Securities and Exchange Commission. 

“Second Variable Rent Base”: As defined in clause (b)(ii)(B) of the definition of “Rent.” 

“Second Variable Rent Period”: As defined in clause (b)(ii)(B) of the definition of “Rent.” 

“Section 34.2 Dispute”: As defined in Section 34.2. 

“Securities Act”: The Securities Act of 1933, as amended, or any successor statute, and the rules and regulations promulgated
thereunder. 
 “Services Co”: Caesars Enterprise Services LLC, or any replacement or successor services company engaged in
performing services on behalf of Tenant and related entities similar to those performed by, or contemplated to be performed by, Caesars Enterprise Services LLC on the date hereof. 

“Services Co Capital Expenditures”: All capital expenditures incurred by Services Co to the extent capitalized in accordance
with GAAP and allocated to Tenant by Services Co. Without Landlord’s consent, Tenant shall not permit any changes to be made to the allocation methodology by which Services Co Capital Expenditures are currently allocated to Tenant if such
change could reasonably be expected to materially and adversely affect Landlord. 
 “Severance Lease”: A separate lease
with respect to a Facility, created when Landlord transfers a specific Facility (or Facilities), which lease shall comply with the requirements set forth in Article XVIII hereof. After the creation of a Severance Lease with an Affiliate of
Landlord, such Severance Lease shall be considered an Other Lease hereunder. 
 “Severance MLSA”: A separate MLSA amongst
Guarantor, Manager, the tenant (or tenants) under the Severance Lease and the transferee landlord under the Severance Lease, which Severance MLSA shall contain all terms, conditions and obligations as contained in the MLSA but shall reflect that
such Severance MLSA shall only apply to the Facility (or Facilities) leased pursuant to the applicable Severance Lease. After the creation of a Severance MLSA with an Affiliate of Landlord, such Severance MLSA shall be considered an Other MLSA
hereunder. 
 “Software”: As they exist anywhere in the world, any computer software, firmware, microcode, operating
system, embedded application, or other program, including all source code, object code, specifications, databases, designs and documentation related to such programs. 

“Southern Indiana Barge TRS”: As defined in Section 1.1. 

  
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 “SPE Tenant”: Collectively or individually, as the context may require, each
Tenant other than CEOC. 
 “Specified Sublease”: Any Sublease (i) affecting any portion of the Leased Property, and
(ii) in effect on the Commencement Date. A list of all Specified Subleases is annexed as Schedule 4 hereto. 
 “Stated
Expiration Date”: As defined in Section 1.3. 
 “Stub Period”: As defined in Section
10.5(a)(v). 
 “Stub Period Multiplier”: As defined in Section 10.5(a)(v). 

“Sublease”: Any sublease, sub-sublease, license, management agreement to operate (but
not occupy as a tenant) a particular space at a Facility, or other similar agreement in respect of use or occupancy of any portion of the Leased Property, but excluding Bookings. 

“Subsidiary”: As to any Person, (i) any corporation more than fifty percent (50%) of whose stock of any class or classes
having by the terms thereof ordinary voting power to elect a majority of the directors of such corporation (irrespective of whether or not at the time stock of any class or classes of such corporation shall have or might have voting power by reason
of the happening of any contingency) is at the time of determination owned by such Person and/or one or more Subsidiaries of such Person, and (ii) any partnership, limited liability company, association, joint venture or other entity in which
such Person and/or one or more Subsidiaries of such Person has more than a fifty percent (50%) Equity Interest at the time of determination. 

“Subtenant”: The tenant under any Sublease. 

“Subtenant Subsidiary”: Any subsidiary of Tenant that is a Subtenant under a Sublease from Tenant. 

“Successor Assets”: As defined in Section 36.1. 

“Successor Assets FMV”: As defined in Section 36.1. 

“Successor Tenant”: As defined in Section 36.1. 

“System-wide IP”: All of the Intellectual Property (in each case, excluding Property Specific IP and Property Specific Guest
Data) that (i) Services Co or any of its Subsidiaries currently license, contemplate to license or otherwise provide to facilitate the provision of services by or on behalf of Services Co or any of its Subsidiaries to any properties owned by
CEOC or its Affiliates, (ii) Services Co or any of its Subsidiaries currently provide or contemplate to provide pursuant to, or is otherwise necessary for the performance of, any Property Management Agreement (as defined in the Omnibus
Agreement), (iii) is necessary for the provision of Enterprise Services (as defined in the Omnibus Agreement) by Services Co, (iv) is generally used by CEOC, its Affiliates and their respective Subsidiaries for their respective properties,
including any and all Intellectual Property comprising and/or related to the Total Rewards Program, or (v) is developed, created or acquired by or on behalf of Services Co or any of its Subsidiaries and is not a derivative work of any
Intellectual Property licensed to Services Co. 

  
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 “Taking”: Any taking of all or any part of the Leased Property and/or the
Leasehold Estate or any part thereof, in or by Condemnation, including by reason of the temporary requisition of the use or occupancy of all or any part of the Leased Property by any governmental authority, civil or military. 

“Tenant”: As defined in the preamble. 

“Tenant Capital Improvement”: A Capital Improvement other than a Material Capital Improvement funded by Landlord pursuant to
a Landlord MCI Financing. The term “Tenant Capital Improvement” shall not include Capital Improvements conveyed by Tenant to Landlord. 

“Tenant Competitor”: As of any date of determination, any Person (other than Tenant and its Affiliates) that is engaged, or
is an Affiliate of a Person that is engaged, in the ownership or operation of a Gaming business; provided, that, (i) for purposes of the foregoing, ownership of the real estate and improvements where a Gaming business is conducted, without
ownership of the Gaming business itself, shall not be deemed to constitute the ownership of a Gaming business, (ii) any investment fund or other Person with an investment representing an equity ownership of fifteen percent (15%) or less in a
Tenant Competitor and no Control over such Tenant Competitor shall not be a Tenant Competitor, (iii) solely for purposes of Section 18.4(c), a Person with an investment representing an equity ownership of twenty-five percent (25%) or
less in a Non-Core Tenant Competitor shall be deemed to not have Control over such Tenant Competitor, and (iv) Landlord shall not be deemed to become a Tenant Competitor by virtue of it or its
Affiliate’s acquiring ownership, or engaging in the ownership or operation of, a Gaming business, if Landlord or any of its Affiliates first offered CEC (or its Subsidiary, as applicable) the opportunity to lease and manage such Gaming business
pursuant to the ROFR Agreement and CEC (or its Subsidiary, as applicable) did not accept such offer. 
 “Tenant Event of
Default”: As defined in Section 16.1. 
 “Tenant Material Capital Improvement”: As
defined in Section 10.4(e). 
 “Tenant Transferee Requirement”: As defined in Section 22.2(i). 

“Tenant’s Initial Financing”: The financing provided under that certain Credit Agreement, dated as of the date hereof,
among Tenant, as borrower, the Lenders (as defined therein) party thereto from time to time and Credit Suisse AG, Cayman Islands Branch, as administrative agent for the Lenders and collateral agent for the Secured Parties (as defined therein). 

“Tenant’s MCI Intent Notice”: As defined in Section 10.4(a). 

“Tenant’s Pledged Property”: All now owned and hereafter acquired FF&E not otherwise part of the Leased Property and
all other now owned and hereafter acquired personal property (including all gaming equipment), licenses, permits, subleases, concessions, and 

  
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contracts, in each case, located at the Leased Property or primarily related to or used or held for use in connection with the operation of the business conducted on or about the Leased Property
as then being operated (including all Property Specific IP and Property Specific Guest Data and Tenant’s rights under System-wide IP, proprietary operating systems and customer data, including Guest Data) owned by or licensed or granted to
Tenant and/or any Subsidiaries of Tenant, and any cash (including all cage cash) located on-site at the Facility but not any other cash, securities or investments; provided, that, Tenant’s Pledged
Property shall exclude all Excluded Assets, all products and proceeds of Tenant’s Pledged Property, and, to the extent required by Gaming Regulations, any Gaming Licenses. 

“Tenant’s Property”: All assets of Tenant and its Subsidiaries (other than the Leased Property and, for purposes of
Article XXXVI only, any Intellectual Property that will not be transferred to a Successor Tenant under Article XXXVI) primarily related to or used in connection with the operation of the business conducted on or about the Leased
Property or any portion thereof, together with all replacements, modifications, additions, alterations and substitutes therefor and including all goodwill and going concern value associated with Tenant’s Property. 

“Term”: As defined in Section 1.3. 

“Third-Party MCI Financing”: As defined in Section 10.4(c). 

“Total Leverage Ratio”: With respect to any Person and its Subsidiaries on a consolidated basis, on any date, the ratio of
(i) the aggregate principal amount of (without duplication) all indebtedness consisting of Capital Lease Obligations, indebtedness for borrowed money, unreimbursed obligations in respect of drawn letters of credit (but excluding contingent
obligations under outstanding letters of credit) and other purchase money indebtedness and guarantees of any of the foregoing obligations, of such Person and its Subsidiaries determined on a consolidated basis on such date in accordance with GAAP to
(ii) EBITDA. 
 “Total Net Leverage Ratio”: With respect to any Person and its Subsidiaries on a consolidated basis,
on any date, the ratio of (i) (a) the aggregate principal amount of (without duplication) all indebtedness consisting of Capital Lease Obligations, indebtedness for borrowed money, unreimbursed obligations in respect of drawn letters of credit
(but excluding contingent obligations under outstanding letters of credit) and other purchase money indebtedness and guarantees of any of the foregoing obligations, of such Person and its Subsidiaries determined on a consolidated basis on such date
in accordance with GAAP less (b) the aggregate amount of all cash or cash equivalents of such Person and its Subsidiaries (provided, that, in the case of cash or cash equivalents held by Domestic Subsidiaries of a Person that is not
incorporated in, or organized under the laws of, the United States or any state or territory thereof or the District of Columbia, such cash must be held at a bank or other financial institution located in the United States or any territory thereof
or the District of Columbia) that would not appear as “restricted” on a consolidated balance sheet of such Person and its Subsidiaries to (ii) EBITDA. 

“Trademarks”: As defined in the definition of Intellectual Property. 

  
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 “Trailing Test Period”: For any date of determination, the period of the four
(4) most recently ended consecutive calendar quarters prior to such date of determination for which Financial Statements are available. 

“Transition Period”: As defined in the MLSA. 

“Transition Services Agreement”: That certain Transition of Management Services Agreement
(Non-CPLV), dated as of the date hereof, as amended, restated, supplemented or otherwise modified from time to time. 

“Triennial Allocated Minimum Cap Ex Amount B Ceiling”: The difference of (a) the Triennial Minimum Cap Ex Amount B,
minus (b) the Triennial Allocated Minimum Cap Ex Amount B Floor (as defined in the CPLV Lease). Notwithstanding anything herein to the contrary, fifty percent (50%) of all Capital Expenditures constituting Material Capital Improvements shall be
credited toward the Triennial Allocated Minimum Cap Ex Amount B Ceiling applicable to the Triennial Period during which such Capital Expenditures were incurred and the other fifty percent (50%) of such Capital Expenditures constituting Material
Capital Improvements shall not be credited toward the Triennial Allocated Minimum Cap Ex Amount B Ceiling. 
 “Triennial Allocated
Minimum Cap Ex Amount B Floor”: An amount equal to Two Hundred Fifty-Five Million and No/100 Dollars ($255,000,000.00), as reduced from time to time by the applicable Minimum Cap Ex Reduction Amount in the event that the Triennial
Minimum Cap Ex Amount B is reduced by the applicable Minimum Cap Ex Reduction Amount. Notwithstanding anything herein to the contrary, fifty percent (50%) of all Capital Expenditures constituting Material Capital Improvements shall be credited
toward the Triennial Allocated Minimum Cap Ex Amount B Floor applicable to the Triennial Period during which such Capital Expenditures were incurred and the other fifty percent (50%) of such Capital Expenditures constituting Material Capital
Improvements shall not be credited toward the Triennial Allocated Minimum Cap Ex Amount B Floor. 
 “Triennial Minimum Cap Ex Amount
A”: An amount equal to Four Hundred Ninety-Five Million and No/100 Dollars ($495,000,000.00), provided, however, that for purposes of calculating the Triennial Minimum Cap Ex Amount A, Capital Expenditures during the applicable Triennial
Period shall not include (a) Services Co Capital Expenditures in excess of Seventy-Five Million and No/100 Dollars ($75,000,000.00) nor (b) Capital Expenditures in respect of the London/Chester Properties in excess of Thirty Million and
No/100 Dollars ($30,000,000.00). The Triennial Minimum Cap Ex Amount A shall be decreased from time to time (w) upon the execution of a Severance Lease in accordance with Section 18.2; (x) in the event of any partial
termination of either this Lease or the Other Leases in connection with any Condemnation or this Lease in connection with a Casualty Event, or pursuant to the expiration of the Maximum Fixed Rent Term, in either case in accordance with the express
terms of this Lease or the Other Leases (as applicable), in either case that results in the removal of Material Leased Property from this Lease or the Other Leases (as applicable); (y) in connection with any disposition of all of the Other Leased
Property under any Other Lease in accordance with Article XVIII of such Other Lease and the assignment of such Other Lease to a third party Acquirer (as defined in such Other Lease), and (z) with respect to the London/Chester Properties,
upon the 

  
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disposition of any Material London/Chester Property; with such decrease, in each case of clause (w), (x), (y) or (z) above, being equal to the applicable Minimum Cap Ex Reduction Amount.
Notwithstanding the foregoing: (1) the sum of all decreases in the Triennial Minimum Cap Ex Amount A under clause (z) in respect of any dispositions of London Clubs property shall not exceed Twelve Million and No/100 Dollars
($12,000,000.00); (2) the sum of all decreases in the Triennial Minimum Cap Ex Amount A under clause (z) in respect of any dispositions of any portion of the Chester Property shall not exceed Eighteen Million and No/100 Dollars
($18,000,000.00); (3) in the event of a disposition (in one or a series of transactions) of all or substantially all of the London Clubs, the Triennial Minimum Cap Ex Amount A shall be decreased by an amount equal to Twelve Million and No/100
Dollars ($12,000,000.00); and (4) in the event of a disposition (in one or a series of transactions) of all or substantially all of the Chester Property, the Triennial Minimum Cap Ex Amount A shall be decreased by an amount equal to Eighteen
Million and No/100 Dollars ($18,000,000.00). Notwithstanding anything herein to the contrary, fifty percent (50%) of all Capital Expenditures and Other Capital Expenditures constituting Material Capital Improvements or Other Material Capital
Improvements shall be credited toward the Triennial Minimum Cap Ex Amount A applicable to the Triennial Period during which such Capital Expenditures or Other Capital Expenditures were incurred and the other fifty percent (50%) of such Capital
Expenditures and Other Capital Expenditures constituting Material Capital Improvements or Other Material Capital Improvements shall not be credited toward the Triennial Minimum Cap Ex Amount A. 

“Triennial Minimum Cap Ex Amount B”: An amount equal to Three Hundred Fifty Million and No/100 Dollars ($350,000,000.00),
provided, however, that for purposes of calculating the Triennial Minimum Cap Ex Amount B, Capital Expenditures during the applicable Triennial Period shall not include any of the following (without duplication): (a) Services Co Capital
Expenditures, (b) Capital Expenditures by any subsidiaries of Tenant that are non-U.S. subsidiaries or are “unrestricted subsidiaries” as defined under Tenant’s debt documentation,
(c) any Capital Expenditures of Tenant related to gaming equipment, (d) any Capital Expenditures of Tenant related to corporate shared services, nor (e) any Capital Expenditures with respect to properties that are not included in the
Leased Property or Other Leased Property. The Triennial Minimum Cap Ex Amount B shall be decreased from time to time (w) upon the execution of a Severance Lease in accordance with Section 18.2; (x) in the event of any
partial termination of either this Lease or the Other Leases in connection with any Condemnation or this Lease in connection with a Casualty Event, or pursuant to the expiration of the Maximum Fixed Rent Term, in either case in accordance with the
express terms of this Lease or the Other Leases (as applicable), in either case that results in the removal of Material Leased Property from this Lease or the Other Leases (as applicable); and (y) in connection with any disposition of all of
the Other Leased Property under any Other Lease in accordance with Article XVIII of such Other Lease and the assignment of such Other Lease to a third party Acquirer (as defined in such Other Lease); with such decrease, in each case of clause
(w), (x) or (y) above, being equal to the applicable Minimum Cap Ex Reduction Amount. Notwithstanding anything herein to the contrary, fifty percent (50%) of all Capital Expenditures and Other Capital Expenditures constituting Material Capital
Improvements or Other Material Capital Improvements shall be credited toward the Triennial Minimum Cap Ex Amount B applicable to the Triennial Period during which such Capital Expenditures or Other Capital Expenditures were incurred and the other
fifty percent (50%) of such Capital Expenditures and Other Capital Expenditures constituting Material Capital Improvements or Other Material Capital 

  
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Improvements shall not be credited toward the Triennial Minimum Cap Ex Amount B. Without limitation of anything set forth in the foregoing, it is acknowledged and agreed that any Capital
Expenditures with respect to any one or more of the London/Chester Properties shall not be included in the calculation of the Triennial Minimum Cap Ex Amount B. 

“Triennial Minimum Cap Ex Requirement A”: As defined in Section 10.5(a)(iii). 

“Triennial Minimum Cap Ex Requirement B”: A defined in Section 10.5(a)(iv). 

“Triennial Period”: Each period of three (3) full Fiscal Years during the Term. 

“Unavoidable Delay”: Delays due to strikes, lockouts, inability to procure materials, power failure, acts of God,
governmental restrictions, enemy action, civil commotion, fire, unavoidable casualty or other causes beyond the reasonable control of the Party responsible for performing an obligation hereunder; provided, that lack of funds, in and of itself, shall
not be deemed a cause beyond the reasonable control of a Party. 
 “Unsuitable for Its Primary Intended Use”: A state or
condition of the Leased Property such that by reason of a Partial Taking the Leased Property cannot, following restoration thereof (to the extent commercially practical), be operated on a commercially practicable basis for the Primary Intended Use
for which it was primarily being used immediately preceding the taking, taking into account, among other relevant economic factors, the amount of square footage and the estimated revenue affected by such Partial Taking. 

“Variable Rent”: The Variable Rent component of Rent, as defined in more detail in clauses (b) and (c) of the
definition of “Rent.” 
 “Variable Rent Base”: As defined in clause (b)(ii)(A) of the definition of
“Rent.” 
 “Variable Rent Determination Period”: Each of (i) the Fiscal Period that ended immediately prior
to the Commencement Date, and (ii) the Fiscal Period in each case that ends immediately prior to the commencement of the 8th Lease Year, the
11th Lease Year, and the first (1st) Lease Year of each Renewal Term. 

“Variable Rent Payment Period”: Collectively or individually, each of the First Variable Rent Period, the Second Variable
Rent Period and each of the Renewal Term Variable Rent Periods. 
 “Variable Rent Statement”: As defined in
Section 3.2(a). 
 “Work”: Any and all work in the nature of construction, restoration,
alteration, modification, addition, improvement or demolition in connection with the performance of any Alterations and/or any Capital Improvements. 

“Year 8 Decrease”: As defined in clause (b)(ii)(A) of the definition of “Rent.” 

“Year 8 Increase”: As defined in clause (b)(ii)(A) of the definition of “Rent.” 

  
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 “Year 8-10 Variable Rent”: As
defined in clause (b)(ii)(A) of the definition of “Rent.” 
 “Year 11 Decrease”: As defined in
clause (b)(ii)(B) of the definition of “Rent.” 
 “Year 11 Increase”: As defined in clause (b)(ii)(B)
of the definition of “Rent.” 
 “Year 11-15 Variable Rent”: As defined in
clause (b)(ii)(B) of the definition of “Rent.” 
 ARTICLE III 

RENT 
 3.1
Payment of Rent. 
 (a) Generally. During the Term, Tenant will pay to Landlord the Rent and Additional Charges in
lawful money of the United States of America and legal tender for the payment of public and private debts, in the manner provided in Section 3.4. 

(b) Payment of Rent until Commencement of Variable Rent. On the Commencement Date, a prorated portion of the first monthly installment
of Rent shall be paid by Tenant for the period from the Commencement Date until the last day of the calendar month in which the Commencement Date occurs, based on the number of days during such period. Thereafter, for the first seven (7) Lease
Years, Rent shall be payable by Tenant in consecutive monthly installments equal to one-twelfth (1/12th) of the Rent amount for the applicable Lease Year on the first (1st) day of each calendar month (or the
immediately preceding Business Day if the first (1st) day of the month is not a Business Day), in advance for such calendar month, during that Lease Year. 

(c) Payment of Rent following Commencement of Variable Rent. From the commencement of the eighth (8th) Lease Year and continuing until
the Expiration Date, both Base Rent and Variable Rent during any Lease Year shall be payable in consecutive monthly installments equal to one-twelfth (1/12th) of the Base Rent and Variable Rent amounts for the
applicable Lease Year on the first (1st) day of each calendar month (or the immediately preceding Business Day if the first (1st) day of the month is not a Business Day), in advance for such calendar month, during that Lease Year; provided,
however, that for each month where Variable Rent is payable but the amount thereof depends upon calculation of Net Revenue not yet known (e.g., the first few months of the eighth (8th) Lease Year, the eleventh (11th) Lease Year, and
(if applicable) the first (1st) Lease Year of each Renewal Term), the amount of the Variable Rent payable monthly in advance shall remain the same as in the immediately preceding month, and provided, further, that Tenant shall make a
payment to Landlord (or be entitled to set off against its Rent payment due, as applicable) on the first (1st) day of the calendar month (or the immediately preceding Business Day if the first (1st) day of the month is not a Business Day) following
the completion of such calculation in the amount necessary to “true-up” any underpayments or overpayments of Variable Rent for such interim period. Tenant shall complete such calculation of Net
Revenue as provided in Section 3.2 of this Lease. 

  
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 (d) Proration for Partial Lease Year. Unless otherwise agreed by the Parties in writing,
Rent and applicable Additional Charges shall be prorated on a per diem basis as to any Lease Year containing less than twelve (12) calendar months, and with respect to any installment thereof due for any partial months at the beginning and end
of the Term. 
 (e) Rent Allocation. 

(i) Rent during the initial seven (7) Lease Years and Rent thereafter for the duration of the Initial Term shall be
allocated as specified in Schedule 5 hereto and such allocations of Rent and Base Rent shall represent Tenant’s accrued liability on account of the use of the Leased Property during the Initial Term. Landlord and Tenant agree that such
allocations are intended to constitute a specific allocation of fixed rent within the meaning of Treasury Regulation § 1.467-1(c)(2)(ii)(A) to the applicable period and in the respective amounts set forth
in Schedule 5 hereto. Landlord and Tenant agree, for purposes of federal income tax returns filed by it (or on any income tax returns on which its income is included), (i) to accrue rental income and rental expense, respectively during the
Initial Term in the amounts equal to the Rent for a given period plus or minus the amount set forth under the caption “Section 467 Rent Adjustment” in Schedule 5 hereto, and (ii) to deduct interest expense and
accrue interest income, respectively, in the amounts set forth under the caption “Section 467 Interest” in Schedule 5 hereto. 

(ii) Initial Base Rent shall be allocated among the Leased Property identified on Schedule
5-A as set forth on Schedule 5-A. On each Escalator Adjustment Date, the Escalator shall be applied to each allocated Base Rent amount, and the aggregate of
such allocated amounts, each as increased by the Escalator, shall constitute Base Rent for the applicable Lease Year. Adjustments of Base Rent occurring at the commencement of the eighth (8th) Lease Year and the eleventh (11th) Lease Year shall be
determined on an individual Leased Property basis, by calculating seventy percent (70%) or eighty percent (80%), respectively, of total Rent for the applicable prior Lease Year with respect to each such Leased Property, and then aggregating such
resulting amounts to determine total adjusted Base Rent. Similarly, Variable Rent shall be determined on an individual Leased Property basis, by applying the formula for Variable Rent (as set forth in the definition of Rent above) to each individual
Leased Property and the Net Revenue attributable thereto, and then aggregating such resulting amounts to determine total adjusted Variable Rent. Notwithstanding the foregoing, in determining Base Rent and Variable Rent as described in this
Section 3.1(e)(ii), no cap or floor shall apply to the calculations on an individual Leased Property basis, and, instead, once the individual allocated amounts are aggregated, if the resulting amount is required to be adjusted to comport with
an applicable cap or floor, then the resulting decrease or increase (to comply with the cap or floor) shall be allocated pro rata among the Leased Properties. 

3.2 Variable Rent Determination. 

(a) Variable Rent Statement. Tenant shall, no later than ninety (90) days after the end of each Variable Rent Determination Period
during the Term, furnish to Landlord a statement (the “Variable Rent Statement”), which Variable Rent Statement shall (i) set forth the 

  
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sum of the Net Revenues realized with respect to the Facility during each of (x) such just-ended Variable Rent Determination Period and (y) except with respect to the first (1st)
Variable Rent Statement, the Variable Rent Determination Period immediately preceding such just-ended Variable Rent Determination Period, (ii) except with respect to the first (1st) Variable Rent Statement, set forth Tenant’s calculation
of the per annum Variable Rent payable hereunder during the next Variable Rent Payment Period, (iii) be accompanied by reasonably appropriate supporting data and information, and (iv) be certified by a senior financial officer of Tenant
and expressly state that such officer has examined the reports of Net Revenue therein and the supporting data and information accompanying the same, that such examination included such tests of Tenant’s books and records as reasonably necessary
to make such determination, and that such statement accurately presents in all material respects the Net Revenues for the applicable periods covered thereby, so that Tenant shall commence paying the applicable Variable Rent payable during each
Variable Rent Payment Period hereunder (in accordance with the calculation set forth in each such Variable Rent Statement) no later than the first (1st) day of the fourth (4th) calendar month
during such Variable Rent Payment Period (or the immediately preceding Business Day if the first (1st) day of such month is not a Business Day). 

(b) Maintenance of Records Relating to Variable Rent Statement. Tenant shall maintain, at its corporate offices, for a period of not
less than six (6) years following the end of each Lease Year, adequate records which shall evidence the Net Revenue realized by the Facility during each Lease Year, together with all such records that would normally be examined by an
independent auditor pursuant to GAAP in performing an audit of Tenant’s Variable Rent Statements. The provisions and covenants of this Section 3.2(b) shall survive the expiration of the Term or sooner termination of this Lease. 

(c) Audits. At any time within two (2) years of receipt of any Variable Rent Statement, Landlord shall have the right to cause to
be conducted an independent audit of the matters covered thereby, conducted by a nationally-recognized independent public accounting firm mutually reasonably agreed to by the Parties. Such audit shall be limited to items necessary to ascertain an
accurate determination of the calculation of the Variable Rent payable hereunder, and shall be conducted during normal business hours at the principal executive office of Tenant. If it shall be determined as a result of such audit (i) that
there has been a deficiency in the payment of Variable Rent, such deficiency shall become due and payable by Tenant to Landlord, within thirty (30) days after such determination, or (ii) that there has been an excess payment of Variable
Rent, such excess shall become due and payable by Landlord to Tenant, within thirty (30) days after such determination. In addition, if any Variable Rent Statement shall be found to have understated the per annum Variable Rent payable during
any Variable Rent Payment Period by more than two and one-half percent (2.5%), and Landlord is entitled to any additional Variable Rent as a result of such understatement, then (x) Tenant shall pay to
Landlord all reasonable, out-of-pocket costs and expenses which may be incurred by Landlord in determining and collecting the understatement or underpayment, including
the cost of the audit (if applicable) and (y) interest at the Overdue Rate on the amount of the deficiency from the date when said payment should have been made until paid. If it shall be determined as a result of such audit that the applicable
Variable Rent Statement did not understate the per annum Variable Rent payable during any Variable Rent Payment Period by more than two and one-half percent (2.5%), then Landlord shall pay to Tenant all
reasonable, out-of-pocket costs and expenses incurred by Tenant in making such determination, including the cost of the audit. In addition, if any Variable Rent

  
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Statement shall be found to have willfully and intentionally understated the per annum Variable Rent, by more than five percent (5%), such understatement shall, at Landlord’s option,
constitute a Tenant Event of Default under this Lease. Any audit conducted pursuant to this Section 3.2(c) shall be performed subject to and in accordance with the provisions of Section 23.1(c) hereof. The receipt by Landlord of any
Variable Rent Statement or any Variable Rent paid in accordance therewith for any period shall not constitute an admission of the correctness thereof. 

3.3 Late Payment of Rent or Additional Charges. Tenant hereby acknowledges that the late payment by
Tenant to Landlord of any Rent or Additional Charges will cause Landlord to incur costs not contemplated hereunder, the exact amount of which is presently anticipated to be extremely difficult to ascertain. Accordingly, if any installment of Rent or
Additional Charges payable directly to Landlord shall not be paid within four (4) days after its due date, Tenant shall pay to Landlord on demand a late charge equal to the lesser of (a) five percent (5%) of the amount of such installment
or Additional Charges and (b) the maximum amount permitted by law. The Parties agree that this late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of late payment by Tenant. The Parties further
agree that any such late charge constitutes Rent, and not interest, and such assessment does not constitute a lender or borrower/creditor relationship between Landlord and Tenant. If any installment of Rent (or Additional Charges payable directly to
Landlord) shall not be paid within nine (9) days after its due date, the amount unpaid, including any late charges previously accrued and unpaid, shall bear interest at the Overdue Rate (from such ninth (9th) day after the due date of such installment until the date of payment thereof) (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar
proceeding, whether or not a claim for such interest is allowed or allowable in such proceeding), and Tenant shall pay such interest to Landlord on demand. The payment of such late charge or such interest shall not constitute a waiver of, nor excuse
or cure, any default under this Lease, nor prevent Landlord from exercising any other rights and remedies available to Landlord. No failure by Landlord to insist upon strict performance by Tenant of Tenant’s obligation to pay late charges and
interest on sums overdue shall constitute a waiver by Landlord of its right to enforce the provisions, terms and conditions of this Section 3.3. No payment by Tenant nor receipt by Landlord of a lesser amount than may be
required to be paid hereunder shall be deemed to be other than on account of any such payment, nor shall any endorsement or statement on any check or any letter accompanying any check tendered as payment be deemed an accord and satisfaction and
Landlord, in its sole discretion, may accept such check or payment without prejudice to Landlord’s right to recover the balance of such payment due or pursue any other right or remedy in this Lease provided. 

3.4 Method of Payment of Rent. Rent and Additional Charges to be paid to Landlord shall be paid by
electronic funds transfer debit transactions through wire transfer, ACH or direct deposit of immediately available federal funds and shall be initiated by Tenant for settlement on or before the applicable Payment Date in each case (or, in respect of
Additional Charges, as applicable, such other date as may be applicable hereunder); provided, however, if the Payment Date is not a Business Day, then settlement shall be made on the preceding Business Day. Landlord shall provide Tenant with
appropriate wire transfer, ACH and direct deposit information in a Notice from Landlord to Tenant. If Landlord directs Tenant to pay any Rent or any Additional Charges to any party other than Landlord, Tenant shall send to Landlord, simultaneously
with such payment, a copy of the transmittal letter or invoice and a check whereby such payment is made or such other evidence of payment as Landlord may reasonably require. 

  
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 3.5 Net Lease. Landlord and Tenant acknowledge and
agree that (i) this Lease is and is intended to be what is commonly referred to as a “net, net, net” or “triple net” lease, and (ii) the Rent (including, for avoidance of doubt, following commencement of the obligation
to pay Variable Rent hereunder, the Base Rent and Variable Rent components of the Rent) and Additional Charges shall be paid absolutely net to Landlord, without abatement, deferment, reduction, defense, counterclaim, claim, demand, notice, deduction
or offset of any kind whatsoever, so that this Lease shall yield to Landlord the full amount or benefit of the installments of Rent (including, for the avoidance of doubt, following commencement of the obligation to pay Variable Rent hereunder, the
Base Rent and Variable Rent components of the Rent) and Additional Charges throughout the Term, all as more fully set forth in Article V and except and solely to the extent expressly provided in Article XIV (in connection with a
Casualty Event), in Article XV (in connection with a Condemnation), in Section 3.1 (in connection with the “true-up”, if any, applicable to the onset of a Variable
Rent Payment Period), in Section 18.2, and in Section 41.16. If Landlord commences any proceedings for non-payment of Rent, Tenant will not interpose any
defense, offset, claim, counterclaim or cross complaint or similar pleading of any nature or description in such proceedings unless Tenant would lose or waive such claim by the failure to assert it. This shall not, however, be construed as a waiver
of Tenant’s right to assert such claims in a separate action brought by Tenant. The covenants to pay Rent and Additional Charges hereunder are independent covenants, and Tenant shall have no right to hold back, deduct, defer, reduce, offset or
fail to pay any such amounts for default by Landlord or for any other reason whatsoever, except solely as and to the extent provided in Section 3.1 and this Section 3.5. 

ARTICLE IV 
 ADDITIONAL
CHARGES 
 4.1 Impositions. Subject to Article XII relating to
permitted contests, Tenant shall pay, or cause to be paid, all Impositions as and when due and payable during the Term to the applicable taxing authority or other party imposing the same before any fine, penalty, premium or interest may be added for
non-payment (provided, (i) such covenant shall not be construed to require early or advance payments that would reduce or discount the amount otherwise owed and (ii) Tenant shall not be required to
pay any Impositions that under the terms of the applicable Ground Lease are required to be paid by the Ground Lessor thereunder). Tenant shall make such payments directly to the taxing authorities where feasible, and on a monthly basis furnish to
Landlord a summary of such payments, together, upon the request of Landlord, with copies of official receipts or other reasonably satisfactory proof evidencing such payments. If Tenant is not permitted to, or it is otherwise not feasible for Tenant
to, make such payments directly to the taxing authorities or other applicable party, then Tenant shall make such payments to Landlord at least ten (10) Business Days prior to the due date, and Landlord shall make such payments to the taxing
authorities or other applicable party prior to the due date. If and to the extent funds for Impositions are being reserved by Tenant on a regular basis with and held by Fee Mortgagee, Tenant shall be permitted to make a direct request to Fee
Mortgagee (contemporaneously providing a copy of such request to Landlord) to cause such funds to be applied to Impositions 

  
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when due and payable, unless a Tenant Event of Default exists, and, to the extent Fee Mortgagee fails to make such disbursement, the failure to timely pay such Impositions shall not give rise to
any Tenant Event of Default or other liability or obligation of Tenant hereunder. Landlord shall deliver to Tenant any bills received by Landlord for Impositions, promptly following Landlord’s receipt thereof. Tenant’s obligation to pay
Impositions shall be absolutely fixed upon the date such Impositions become a lien upon the Leased Property to the extent payable during the Term or any part thereof, subject to Article XII. Notwithstanding anything in the first sentence of
this Section 4.1 to the contrary, if any Imposition may, at the option of the taxpayer, lawfully be paid in installments, whether or not interest shall accrue on the unpaid balance of such Imposition, Tenant may pay the
same, and any accrued interest on the unpaid balance of such Imposition, in installments as the same respectively become due and before any fine, penalty, premium or further interest may be added thereto. Nothing in this
Section 4.1 shall limit Tenant’s obligations with respect to funding reserves for Impositions to the extent required under Section 31.3. 

(a) Landlord or Landlord REIT shall prepare and file all tax returns and reports as may be required by Legal Requirements with respect to
Landlord’s net income, gross receipts, franchise taxes and taxes on its capital stock and any other returns required to be filed by or in the name of Landlord (the “Landlord Tax Returns”), and Tenant or Tenant’s applicable
direct or indirect parent shall prepare and file all other tax returns and reports as may be required by Legal Requirements with respect to or relating to the Leased Property (including all Capital Improvements) and Tenant’s Property. If any
property covered by this Lease is classified as personal property for tax purposes, Tenant shall file all required personal property tax returns in such jurisdictions where it is required to file pursuant to applicable Legal Requirements and provide
copies to Landlord upon request. 
 (b) Any refund due from any taxing authority in respect of any Imposition paid by or on behalf of Tenant
shall be paid over to or retained by Tenant, and any refund due from any taxing authority in respect of any Imposition paid by or on behalf of Landlord, if any, shall be paid over to or retained by Landlord. 

(c) Landlord and Tenant shall, upon request of the other, provide such data as is maintained by the Party to whom the request is made with
respect to the Leased Property as may be necessary to prepare any required tax returns and reports. Landlord, to the extent it possesses the same, and Tenant, to the extent it possesses the same, shall provide the other Party, upon request, with
cost and depreciation records necessary for filing returns for any property classified as personal property. Where Landlord is legally required to file personal property tax returns, Landlord shall provide Tenant with copies of assessment notices
indicating a value in excess of the reported value in sufficient time for Tenant to file a protest. 
 (d) Billings for reimbursement by
Tenant to Landlord of personal property or real property taxes and any taxes due under the Landlord Tax Returns, if and to the extent Tenant is responsible for such taxes under the terms of this Section 4.1 (subject to
Article XII), shall be accompanied by copies of a bill therefor and payments thereof which identify in reasonable detail the personal property or real property or other tax obligations of Landlord with respect to which such payments are made.

  
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 (e) Impositions imposed or assessed in respect of the
tax-fiscal period during which the Commencement Date or the Expiration Date occurs shall be adjusted and prorated between Landlord and Tenant; provided, that Tenant’s obligation to pay its prorated
share of Impositions imposed or assessed before the Expiration Date in respect of a tax-fiscal period during the Term shall survive the Expiration Date (and its right to contest the same pursuant to Article
XII shall survive the Stated Expiration Date). Landlord will not enter into agreements that will result in, or consent to the imposition of, additional Impositions without Tenant’s consent, which shall not be unreasonably withheld,
conditioned or delayed; provided, in each case, Tenant is given reasonable opportunity to participate in the process leading to such agreement. Impositions imposed or assessed in respect of any
tax-fiscal period occurring (in whole or in part) prior to the Commencement Date, if any, shall be Tenant’s obligation to pay or cause to be paid. 

4.2 Utilities and Other Matters. Tenant shall pay or cause to be paid all charges for electricity,
power, gas, oil, water and other utilities used in the Leased Property. Tenant shall also pay or reimburse Landlord for all costs and expenses of any kind whatsoever which at any time with respect to the Term hereof may be imposed against Landlord
by reason of any Property Documents, or with respect to easements, licenses or other rights over, across or with respect to any adjacent or other property which benefits the Leased Property or any Capital Improvement, including any and all costs and
expenses associated with any utility, drainage and parking easements relating to the Leased Property (but excluding, for the avoidance of doubt, any costs and expenses under any Fee Mortgage Documents). 

4.3 Compliance Certificate. Landlord shall deliver to Tenant, promptly following Landlord’s
receipt thereof, any bills received by Landlord for items required to be paid by Tenant hereunder, including, without limitation, Impositions, utilities and insurance. Promptly upon request of Landlord (but so long as no Event of Default is
continuing no more frequently than one time per Fiscal Quarter), Tenant shall furnish to Landlord a certification stating that all or a specified portion of Impositions, utilities, insurance premiums or, to the extent specified by Landlord, any
other amounts payable by Tenant hereunder that have, in each case, come due prior to the date of such certification have been paid (or that such payments are being contested in good faith by Tenant in accordance herewith) and specifying the portion
of the Leased Property to which such payments relate. 
 4.4 Impound Account. At Landlord’s
option following the occurrence and during the continuation of a monetary Tenant Event of Default (to be exercised by thirty (30) days’ written notice to Tenant), and provided Tenant is not already being required to impound such payments
in accordance with the requirements of Section 31.3 below, Tenant shall be required to deposit, at the time of any payment of Rent, an amount equal to one-twelfth (1/12th) of the sum
of (i) Tenant’s estimated annual real and personal property taxes required pursuant to Section 4.1 hereof (as reasonably determined by Landlord), and (ii) Tenant’s estimated annual insurance premium
costs pursuant to Article XIII hereof (as reasonably determined by Landlord). Such amounts shall be applied to the payment of the obligations in respect of which said amounts were deposited, on or before the respective dates on which the same
or any of them would become due. The reasonable cost of administering such impound account shall be paid by Tenant. Nothing in this Section 4.4 shall be deemed to affect any other right or remedy of Landlord hereunder. 

  
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 ARTICLE V 

NO TERMINATION, ABATEMENT, ETC. 

Except as otherwise specifically provided in this Lease, Tenant shall remain bound by this Lease in accordance with its terms. The obligations
of Landlord and Tenant hereunder shall be separate and independent covenants and agreements and the Rent and all other sums payable by Tenant hereunder shall continue to be payable in all events unless the obligations to pay the same shall be
terminated pursuant to the express provisions of this Lease or by termination of this Lease as to all or any portion of the Leased Property other than by reason of an Event of Default. Without limitation of the preceding sentence, the respective
obligations of Landlord and Tenant shall not be affected by reason of, except as expressly set forth in Articles XIV and XV, (i) any damage to or destruction of the Leased Property, including any Capital Improvement or any portion
thereof from whatever cause, or any Condemnation of the Leased Property, including any Capital Improvement or any portion thereof or, discontinuance of any service or utility servicing the same; (ii) the lawful or unlawful prohibition of, or
restriction upon, Tenant’s use of the Leased Property, including any Capital Improvement or any portion thereof or the interference with such use by any Person or by reason of eviction by paramount title; (iii) any claim that Tenant has or
might have against Landlord by reason of any default or breach of any warranty by Landlord hereunder or under any other agreement between Landlord and Tenant or to which Landlord and Tenant are parties; (iv) any bankruptcy, insolvency,
reorganization, consolidation, readjustment, liquidation, dissolution, winding up or other proceedings affecting Landlord or any assignee or transferee of Landlord; or (v) for any other cause, whether similar or dissimilar to any of the
foregoing. Tenant hereby specifically waives all rights arising from any occurrence whatsoever which may now or hereafter be conferred upon it by law (a) to modify, surrender or terminate this Lease or quit or surrender the Leased Property or
any portion thereof, or (b) which may entitle Tenant to any abatement, deduction, reduction, suspension or deferment of or defense, counterclaim, claim or set-off against the Rent or other sums payable by
Tenant hereunder, except in each case as may be otherwise specifically provided in this Lease. 
 ARTICLE VI 

OWNERSHIP OF REAL AND PERSONAL PROPERTY 

6.1 Ownership of the Leased Property. 

(a) Landlord and Tenant acknowledge and agree that they have executed and delivered this Lease with the understanding that (i) the Leased
Property is the property of Landlord, (ii) Tenant has only the right to the possession and use of the Leased Property upon the terms and conditions of this Lease, (iii) this Lease is a “true lease,” is not a financing lease,
mortgage, equitable mortgage, deed of trust, trust agreement, security agreement or other financing or trust arrangement, and the economic realities of this Lease are those of a true lease, (iv) the business relationship created by this Lease
and any related documents is and at all times shall remain that of landlord and tenant, (v) this Lease has been entered into by each Party in reliance upon the mutual covenants, conditions and agreements contained herein, and (vi) none of
the agreements contained herein is intended, nor shall the same be deemed or construed, to create a partnership between Landlord and Tenant, to make them joint venturers, to make Tenant an agent, legal representative, partner, subsidiary or employee
of Landlord, or to make Landlord in any way responsible for the debts, obligations or losses of Tenant. 

  
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 (b) Each of the Parties covenants and agrees, subject to Section 6.1(d), not to
(i) file any income tax return or other associated documents, (ii) file any other document with or submit any document to any governmental body or authority, or (iii) enter into any written contractual arrangement with any Person, in
each case that takes a position other than that this Lease is a “true lease” with Landlord as owner of the Leased Property (except as expressly set forth below) and Tenant as the tenant of the Leased Property. For U.S. federal, state
and local income tax purposes, Landlord and Tenant agree that (x) Landlord shall be treated as the owner of the Leased Property eligible to claim depreciation deductions under Sections 167 or 168 of the Code with respect to all Leased Property
excluding the Leased Property described in clauses (y) and (z) below, (y) Tenant shall be treated as owner of, and eligible to claim depreciation deductions under Sections 167 or 168 of the Code with respect to, all Tenant Capital
Improvements (including, for avoidance of doubt and for purposes of this sentence, Tenant Material Capital Improvements) and Material Capital Improvements funded by Landlord pursuant to a Landlord MCI Financing that is treated as a loan for such
income tax purposes, and (z) Tenant shall be treated as owner of, and eligible to claim depreciation deductions under Sections 167 and 168 of the Code with respect to any Leased Improvements (related to any capital improvement projects ongoing
as of the Commencement Date for which fifty percent (50%) or less of the costs of such projects have been paid or accrued as of the Commencement Date (the completion of such capital improvement projects being an obligation of Tenant at no cost or
expense to Landlord). For the avoidance of doubt, Landlord shall be treated as having received from the Debtors on the Commencement Date, as a capital contribution together with the transfer of the Leased Property to Landlord pursuant to the
Bankruptcy Plan, an obligation of Tenant (at no cost or expense to Landlord) to complete any Leased Improvements related to any capital improvement projects ongoing as of the Commencement Date for which more than fifty percent (50%) of the costs of
such projects have been paid or accrued as of the Commencement Date. 
 (c) If, notwithstanding (i) the form and substance of this
Lease, (ii) the intent of the Parties, and (iii) the language contained herein providing that this Lease shall at all times be construed, interpreted and applied to create an indivisible lease of all of the Leased Property, any court of
competent jurisdiction finds that this Lease is a financing arrangement, then this Lease shall be considered a secured financing agreement and Landlord’s title to the Leased Property shall constitute a perfected first priority lien in
Landlord’s favor on the Leased Property to secure the payment and performance of all the obligations of Tenant hereunder (and to that end, Tenant hereby grants, assigns and transfers to Landlord a security interest in all right, title or
interest in or to any and all of the Leased Property, as security for the prompt and complete payment and performance when due of Tenant’s obligations hereunder). In such event, Tenant (and each Permitted Leasehold Mortgagee) authorizes
Landlord, at the expense of Tenant, to make any filings or take other actions as Landlord reasonably determines are necessary or advisable in order to effect fully this Lease or to more fully perfect or renew the rights of Landlord, and to
subordinate to Landlord the lien of any Permitted Leasehold Mortgagee, with respect to the Leased Property (it being understood that nothing in this Section 6.1(c) shall affect the rights of a Permitted Leasehold Mortgagee under Article
XVII hereof). At any time and from time to time upon the request of Landlord, and at the expense of the Tenant, Tenant shall 

  
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promptly execute, acknowledge and deliver such further documents and do such other acts as Landlord may reasonably request in order to effect fully this Section 6.1(c) or to more fully
perfect or renew the rights of Landlord with respect to the Leased Property as described in this Section 6.1(c). 
 (d)
Notwithstanding the foregoing, the Parties acknowledge that, as of the Commencement Date, for GAAP purposes this Lease is not expected to be treated as a “true lease” and that the Parties will prepare Financial Statements consistent with
GAAP (and for purposes of any SEC or other similar governmental filing purposes), as applicable. 
 (e) Landlord and Tenant acknowledge and
agree that the Rent is the fair market rent for the use of the Leased Property and was agreed to by Landlord and Tenant on that basis, and the execution and delivery of, and the performance by Tenant of its obligations under, this Lease does not
constitute a transfer of all or any part of the Leased Property, but rather the creation of the Leasehold Estate subject to the terms and conditions of this Lease. 

(f) Tenant waives any claim or defense based upon the characterization of this Lease as anything other than a true lease of the Leased
Property. Tenant stipulates and agrees (1) not to challenge the validity, enforceability or characterization of this Lease of the Leased Property as a true lease, and (2) not to assert or take or omit to take any action inconsistent with
the agreements and understandings set forth in Section 1.2, Section 3.5 or this Section 6.1. The expressions of intent, the waivers, the representations and warranties,
the covenants, the agreements and the stipulations set forth in this Section 6.1 are a material inducement to Landlord entering into this Lease. 

6.2 Ownership of Tenant’s Property. Tenant shall, during the entire
Term, (a) own (or lease) and maintain (or cause its Subsidiaries, if any, to own (or lease) and maintain) on the Leased Property adequate and sufficient Tenant’s Property, (b) maintain (or cause its Subsidiaries, if any, to maintain)
all of such Tenant’s Property in good order, condition and repair, in all cases as shall be necessary and appropriate in order to operate the Leased Property for the Primary Intended Use in material compliance with all applicable licensure and
certification requirements and in material compliance with all applicable Legal Requirements, Insurance Requirements and Gaming Regulations, and (c) abide by (or cause its Subsidiaries, if any, to abide by) the terms and conditions of, and not
in any way cause a termination of, the Omnibus Agreement. If any of Tenant’s Property requires replacement in order to comply with the foregoing, Tenant shall replace (or cause a Subsidiary to replace) it with similar property of the same or
better quality at Tenant’s (or such Subsidiary’s) sole cost and expense. Subject to the foregoing and the other express terms and conditions of this Lease (including, without limitation, Section 6.3 hereof),
Tenant and its Subsidiaries, if any, may sell, transfer, convey or otherwise dispose of Tenant’s Property in their discretion in the ordinary course of their business and Landlord shall thereafter have no rights to such sold, transferred,
conveyed or otherwise disposed of Tenant’s Property. In the case of any such Tenant’s Property that is leased (rather than owned) by Tenant (or its Subsidiaries, if any), Tenant shall use commercially reasonable efforts to ensure that any
agreements entered into after the Commencement Date pursuant to which Tenant (or its Subsidiaries, if any) leases such Tenant’s Property are assignable to third parties in connection with any transfer by Tenant (or its Subsidiaries, if any) to
a replacement lessee or operator at the end of the Term. To the extent not transferred to a Successor Tenant 

  
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pursuant to Article XXXVI hereof (and subject to Landlord’s rights under Section 6.3 and the rights of any Permitted Leasehold Mortgagee under Article
XVII and the terms and conditions of the Intercreditor Agreement and the terms and conditions of the Transition Services Agreement), Tenant shall remove all of Tenant’s Property from the Leased Property at the end of the Term. Any
Tenant’s Property left on the Leased Property at the end of the Term whose ownership was not transferred to a Permitted Leasehold Mortgagee or its designee or assignee that entered into or succeeded to a New Lease pursuant to the terms hereof
or to a Successor Tenant pursuant to Article XXXVI hereof shall be deemed abandoned by Tenant and shall become the property of Landlord. Notwithstanding anything to the contrary contained herein, but without limitation of Tenant’s
express rights to effect replacements, make dispositions or grant liens with respect to Tenant’s Pledged Property under this Section 6.2 and Section 6.3, Tenant shall own, hold and/or lease,
as applicable, all of the material Tenant’s Pledged Property relating to the Leased Property. 
 6.3
Landlord’s Security Interest in Tenant’s Pledged Property. 

(a) To secure the performance of Tenant’s obligations under this Lease, including, without limitation, Tenant’s obligation to pay
Rent hereunder, Tenant (on behalf of itself and on behalf of all of its Subsidiaries and Affiliates, as applicable), collectively, as debtor, hereby grants to Landlord, as secured party, a first priority security interest in all of Tenant’s
(and all of Tenant’s Subsidiaries’ and Affiliates’, as applicable) right, title and interest in and to Tenant’s Pledged Property now owned or in which Tenant (or any of Tenant’s Subsidiaries and Affiliates, as applicable)
hereafter acquires an interest or right. This Lease constitutes a security agreement covering all such Tenant’s Pledged Property. The Parties acknowledge that the security interest granted hereunder is subject to the terms and conditions of the
Intercreditor Agreement. 
 (b) The security interest granted to Landlord in Tenant’s Pledged Property is subordinate to any security
interest granted by Tenant (or any Subsidiary or Affiliate of Tenant) in tangible components of Tenant’s Pledged Property for the purpose of securing purchase money financing with respect thereto (including equipment leases or equipment
financing), as long as, (I) with respect to any such purchase money financing entered into from and after the Commencement Date with an initial principal balance in excess of Fifty Million and No/100 Dollars ($50,000,000.00), (a) Tenant
provides Landlord (and any Fee Mortgagee of which it is given notice in accordance herewith) with copies of the documentation evidencing such financing or leasing and (b) Tenant shall use commercially reasonable efforts to have the lessor
or financier of such purchase money financing agree to give Landlord (and any such Fee Mortgagee) notice of any default by Tenant under the terms of such arrangement and a reasonable time following such notice to cure any such default and to consent
to Landlord’s (or any such Fee Mortgagee’s) written assumption of such arrangement upon curing such default, in each case prior to exercising any remedies in respect of such default and (II) the aggregate amount of any purchase money
indebtedness in respect of Tenant’s Pledged Property (together with the aggregate amount of any purchase money indebtedness in respect of “Tenant’s Pledged Property” under and as defined in each of the Other Leases) shall not
exceed at any time an amount equal to two and one-half percent (2.5%) of the consolidated total assets of CEOC from time to time. 

  
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 (c) Tenant shall pay all filing fees and record search fees and other reasonable costs for such
additional security agreements, financing statements, fixture filings, and other documents as Landlord may reasonably require to perfect or to continue the perfection of Landlord’s security interest in Tenant’s Pledged Property. Landlord
shall have the right to collaterally assign such security interest granted to Landlord in Tenant’s Pledged Property to any Fee Mortgagee. 

(d) Notwithstanding the foregoing or anything herein to the contrary, Landlord may not foreclose upon or exercise remedies against
Landlord’s security interest in Tenant’s Pledged Property unless and until both (i) the Landlord’s Enforcement Condition has occurred and (ii) this Lease has either (1) been rejected in bankruptcy (and no Permitted
Leasehold Mortgagee is entitled to obtain a New Lease in accordance with Section 17.1(f) hereof) or (2) terminated by Landlord pursuant to Section 16.2(x) hereof; provided, however, that notwithstanding the foregoing
or anything otherwise set forth in this Lease Landlord may, (I) at any time take such actions as are available to a secured creditor in any bankruptcy, insolvency or dissolution proceeding, and (II) commence foreclosure proceedings and
otherwise take steps in connection with exercising its remedies under this Section 6.3 with respect to Tenant’s Pledged Property after the occurrence and during the continuance of a Tenant Event of Default, so long as
(x) Landlord does not consummate such foreclosure and does not complete any such other exercise of remedies which would, or take any other action which would, effect a transfer of ownership, title or possession of Tenant’s Pledged Property
prior to termination or rejection of the Lease (and failure of any Permitted Leasehold Mortgagee to obtain a New Lease in accordance with Section 17.1(f) hereof), and (y) during any period that any Permitted Leasehold Mortgagee is
entitled to cure a Tenant Event of Default or obtain a New Lease pursuant to and in accordance with Sections 17.1(d), (e) and (f) of this Lease, as the case may be, Landlord does not impair or interfere with the exercise of
any rights of Tenant hereunder (including but not limited to cure rights) or any rights of any Permitted Leasehold Mortgagee (including but not limited to cure rights) with respect to Tenant’s Pledged Property as set forth hereunder or in the
Intercreditor Agreement. Notwithstanding anything herein to the contrary, the lien and security interest granted to Landlord pursuant to this Lease in the Tenant’s Pledged Property and the exercise of any right or remedy by Landlord hereunder
against the Tenant’s Pledged Property are subject to the provisions of the Intercreditor Agreement. Subject to the restriction effected by clause (x) above, in the event of any conflict between the terms of the Intercreditor Agreement and
this Lease, the terms of the Intercreditor Agreement shall govern and control. 
 (e) Any Tenant’s Pledged Property that is sold,
transferred, conveyed or otherwise disposed of in accordance with Section 6.2 shall be automatically released from the security interest granted to Landlord in Tenant’s Pledged Property and Landlord shall, at
Tenant’s request, execute such documents and instruments to evidence such release. Landlord acknowledges that a Permitted Leasehold Mortgagee may have a subordinate lien on Tenant’s Pledged Property, provided that such lien in favor of a
Permitted Leasehold Mortgagee is subject and subordinate to the first-priority lien thereon in favor of Landlord on the terms and conditions set forth in the Intercreditor Agreement. 

(f) Tenant and each of Tenant’s Subsidiaries and Affiliates that have granted to Landlord a security interest as described herein
acknowledges that this Agreement is being 

  
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entered into and approved in connection with Tenant’s pending chapter 11 bankruptcy case and agrees that, in the event Tenant or any such Tenant Subsidiary or Affiliates files or has filed
against it another case under Title 11 of the U.S. Code, Landlord shall thereupon be entitled immediately to relief from the automatic stay of Section 362 and from any other stay or restriction on Landlord’s ability to exercise the rights
and remedies available to Landlord as a secured creditor with respect to Tenant’s Pledged Property, and Tenant and each such Tenant Subsidiary and Affiliate hereby waives the benefits of such automatic stay or restriction and consents and
agrees to raise no objection to such relief sought by Landlord. 
 (g) Tenant (and Tenant’s Subsidiaries and Affiliates, as applicable)
shall promptly execute such other separate security agreements consistent with the terms of this Section 6.3 with respect to Tenant’s Pledged Property as Landlord may reasonably request from time to time to evidence
such security interest in Tenant’s Pledged Property created by this Section 6.3. 
 ARTICLE VII 

PRESENT CONDITION & PERMITTED USE 

7.1 Condition of the Leased Property. Tenant acknowledges receipt and delivery of possession of the
Leased Property and confirms that Tenant has examined and otherwise has knowledge of the condition of the Leased Property prior to and as of the execution and delivery of this Lease and has found the same to be satisfactory for its purposes
hereunder, it being understood and acknowledged by Tenant that, immediately prior to Landlord’s acquisition of the Leased Property and contemporaneous entry into this Lease, Tenant (or its Affiliates) was the owner of all of Landlord’s
interest in and to the Leased Property and, accordingly, Tenant is charged with, and deemed to have, full and complete knowledge of all aspects of the condition and state of the Leased Property as of the Commencement Date. Without limitation of the
foregoing and regardless of any examination or inspection made by Tenant, and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Leased Property “as is” in its present
condition. Without limitation of the foregoing, Tenant waives any claim or action against Landlord in respect of the condition of the Leased Property including any defects or adverse conditions not discovered or otherwise known by Tenant as of the
Commencement Date. LANDLORD MAKES NO WARRANTY OR REPRESENTATION OF ANY KIND, EXPRESS OR IMPLIED, IN RESPECT OF THE LEASED PROPERTY OR ANY PART THEREOF, INCLUDING AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR
OTHERWISE, OR AS TO THE NATURE OR QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, OR THE STATUS OF TITLE TO THE LEASED PROPERTY OR THE PHYSICAL CONDITION OR STATE OF REPAIR THEREOF, OR THE ZONING OR OTHER LAWS, ORDINANCES, BUILDING CODES,
REGULATIONS, RULES AND ORDERS APPLICABLE THERETO OR TO ANY CAPITAL IMPROVEMENTS WHICH MAY BE NOW OR HEREAFTER CONTEMPLATED, THE IMPOSITIONS LEVIED IN RESPECT OF THE LEASED PROPERTY OR ANY PART THEREOF, OR THE USE THAT MAY BE MADE OF THE LEASED
PROPERTY OR ANY PART THEREOF, THE INCOME TO BE DERIVED FROM THE FACILITY OR THE EXPENSE OF OPERATING THE SAME, OR THE EXISTENCE OF ANY HAZARDOUS SUBSTANCE, IT BEING AGREED THAT ALL SUCH RISKS, 

  
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LATENT OR PATENT, ARE TO BE BORNE SOLELY BY TENANT INCLUDING ALL RESPONSIBILITY AND LIABILITY FOR ANY ENVIRONMENTAL REMEDIATION AND COMPLIANCE WITH ALL ENVIRONMENTAL LAWS. This
Section 7.1 shall not be construed to limit Landlord’s express indemnities made hereunder. 
 7.2
Use of the Leased Property. 
 (a) Tenant shall not use (or cause or permit to be used) any Facility, including the Leased
Property, or any portion thereof, including any Capital Improvement, for any use other than the Primary Intended Use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges
that operation of the Leased Property for its Primary Intended Use generally may require a Gaming License under applicable Gaming Regulations and that without such a license, if applicable, neither Landlord nor Landlord REIT may operate, control or
participate in the conduct of the gaming operations at a Facility. Tenant acknowledges that operation of a Facility for its Primary Intended Use generally may require a Gaming License under applicable Gaming Regulations and that without such a
license, if applicable, Tenant may not operate, control or participate in the conduct of the gaming operations at the Facility. 
 (b)
Tenant shall not commit or suffer to be committed any waste with respect to a Facility, including on or to the Leased Property (and, without limitation, to the Capital Improvements) or cause or permit any nuisance thereon or, except as required by
law, knowingly take or suffer any action or condition that will diminish in any material respect, the ability of the Leased Property to be used as a Gaming Facility (or otherwise for the Primary Intended Use) after the Expiration Date. 

(c) Tenant shall not, without the prior written consent of Landlord, which shall not be unreasonably withheld, conditioned or delayed,
(i) initiate or support any limiting change in the permitted uses of the Leased Property (or to the extent applicable, limiting zoning reclassification of the Leased Property); (ii) seek any variance under existing land use restrictions,
laws, rules or regulations (or, to the extent applicable, zoning ordinances) applicable to the Leased Property or the use of the Leased Property in any manner that adversely affects (other than to a de minimis extent) the value or utility of the
Leased Property for the Primary Intended Use; (iii) execute or file any subdivision plat or condominium declaration affecting the Leased Property or any portion thereof, or institute, or permit the institution of, proceedings to alter any tax
lot comprising the Leased Property or any portion thereof; or (iv) permit or suffer the Leased Property or any portion thereof to be used by the public or any Person in such manner as might make possible a claim of adverse usage or possession
or of any implied dedication or easement (provided that the proscription in this clause (iv) is not intended to and shall not restrict Tenant in any way from complying with any obligation it may have under applicable Legal Requirements,
including, without limitation, Gaming Regulations, to afford to the public access to the Leased Property or any portion thereof). Without limiting the foregoing, (1) Tenant will not impose or permit the imposition of any restrictive covenants,
easements or other encumbrances upon the Leased Property without Landlord’s consent, which shall not be unreasonably withheld, conditioned or delayed, provided, that, Landlord is given reasonable opportunity to participate in the
process leading to such agreement, and (2) other than any liens or other encumbrances granted to a Fee Mortgagee, Landlord will not enter into agreements that 

  
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will encumber the Leased Property without Tenant’s consent, which shall not be unreasonably withheld, conditioned or delayed, provided, that, Tenant is given reasonable
opportunity to participate in the process leading to such agreement. Landlord agrees it will not withhold consent to utility easements and other similar encumbrances made in the ordinary course of Tenant’s business conducted on the Leased
Property in accordance with the Primary Intended Use, provided the same does not adversely affect in any material respect the use or utility of the Leased Property for the Primary Intended Use. Nothing in the foregoing is intended to vitiate or
supersede Tenant’s right to enter into Permitted Leasehold Mortgages or Landlord’s right to enter into Fee Mortgages in each case as and to the extent provided herein. 

(d) Except to the extent resulting from a Permitted Operation Interruption, Tenant shall cause each of the Continuous Operation Facilities to
be Continuously Operated during the Term. With respect to any Facility that is not a Continuous Operation Facility, during any time period that such Facility ceases to be Continuously Operated, solely for purposes of calculating Variable Rent in
accordance herewith, the Net Revenue associated with such Facility shall be subject to a floor equal to the Net Revenue for such Facility for the calendar year immediately preceding such period that such Facility is not Continuously Operated,
prorated for the applicable time period that such Facility is not Continuously Operated. Further, if any Facility that is not a Continuous Operation Facility ceases to be Continuously Operated for a period of one (1) year, then Landlord shall
have the right, in its sole discretion, to terminate this Lease solely as to such Facility, in which event the Rent shall be adjusted in accordance with the Rent Reduction Amount. 

(e) Subject to Article XII regarding permitted contests, Tenant, at its sole cost and expense, shall promptly
(i) comply in all material respects with all Legal Requirements and Insurance Requirements affecting each Facility and the business conducted thereat, including those regarding the use, operation, maintenance, repair and restoration of the
Leased Property or any portion thereof (including all Capital Improvements) and Tenant’s Property whether or not compliance therewith may require structural changes in any of the Leased Improvements or interfere with the use and enjoyment of
the Leased Property or any portion thereof, and (ii) procure, maintain and comply in all material respects with all Gaming Regulations and Gaming Licenses, and other authorizations required for the use of the Leased Property (including all
Capital Improvements) and Tenant’s Property for the applicable Primary Intended Use and any other use of the Leased Property (and Capital Improvements then being made) and Tenant’s Property, and for the proper erection, installation,
operation and maintenance of the Leased Property and Tenant’s Property. In an emergency involving an imminent threat to human health and safety or damage to property, or in the event of a breach by Tenant of its obligations under this
Section 7.2 which is not cured within any applicable cure period set forth herein, Landlord or its representatives (and any Fee Mortgagee) may, but shall not be obligated to, enter upon the Leased Property (and, without
limitation, all Capital Improvements) (upon reasonable prior written notice to Tenant, except in the case of emergency, and Tenant shall be permitted to have Landlord or its representatives accompanied by a representative of Tenant) and take such
reasonable actions and incur such reasonable costs and expenses to effect such compliance as it deems advisable to protect its interest in the Leased Property, and Tenant shall reimburse Landlord for all such reasonable out-of-pocket costs and expenses actually incurred by Landlord in connection with such actions. 

  
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 (f) Without limitation of any of the other provisions of this Lease, Tenant shall comply with all
Property Documents (i) that are listed on the title policies described on Exhibit J attached hereto, or (ii) made after the date hereof in accordance with the terms of this Lease or as may otherwise be agreed to in writing by Tenant
or Landlord. 
 7.3 Ground Leases. 

(a) This Lease, to the extent affecting and solely with respect to the Ground Leased Property, is and shall be subject and subordinate to all
of the terms and conditions of the Ground Leases and to all liens, rights and encumbrances to which the Ground Leases are subject or subordinate. Tenant hereby acknowledges that Tenant has reviewed and agreed to all of the terms and conditions of
the Ground Leases in effect as of the Commencement Date as listed on Schedule 2 attached hereto. Tenant hereby agrees that (x) Tenant shall comply with all provisions, terms and conditions of the Ground Leases in effect as of the
Commencement Date as listed on Schedule 2, except to the extent such provisions, terms and conditions (1) apply solely to Landlord, (2) are not susceptible of being performed (or if breached, are not capable of being cured) by
Tenant, and (3) in the case of the Ground Leases in effect as of the Commencement Date, are expressly set forth in the copies of such Ground Leases that were furnished to Landlord by Tenant on or prior to the Commencement Date (provisions,
terms and conditions satisfying clauses (1) through (3), “Landlord Specific Ground Lease Requirements”), and (y) Tenant shall not do, or (except with respect to Landlord Specific Ground Lease Requirements) fail to do,
anything that would cause any violation of the Ground Leases. Without limiting the foregoing, (i) Tenant acknowledges that it shall be obligated to (and shall) pay, as part of Tenant’s obligations under this Lease, all monetary obligations
imposed upon Landlord as the lessee under any and all of the Ground Leases, including, without limitation, any rent and additional rent payable thereunder and shall, upon request, provide satisfactory proof evidencing such payments to Landlord,
(ii) to the extent Landlord is required to obtain the written consent of the lessor under any applicable Ground Lease (in each case, the “Ground Lessor”) to alterations of or the subleasing of all or any portion of the Ground
Leased Property pursuant to any Ground Lease, Tenant shall likewise obtain the applicable Ground Lessor’s written consent to alterations of or the sub-subleasing of all or any portion of the Ground Leased
Property (in each case, to the extent the same is permitted hereunder), and (iii) (without limitation of the Insurance Requirements hereunder) Tenant shall carry and maintain general liability, automobile liability, property and casualty,
worker’s compensation, employer’s liability insurance and such other insurance, if any, in amounts and with policy provisions, coverages and certificates as required of Landlord as tenant under any applicable Ground Lease. The foregoing is
not intended to vitiate or supersede Landlord’s rights as lessee under any Ground Lease, and, without limitation of the preceding portion of this sentence or of any other rights or remedies of Landlord hereunder, in the event Tenant fails to
comply with its obligations with respect to Ground Leases as described herein (without giving effect to any notice or cure periods thereunder), Landlord shall have the right (but without any obligation to Tenant or any liability for failure to
exercise such right), following written notice to Tenant and the passage of a reasonable period of time (except to the extent the failure is of a nature such that it is not practicable for Landlord to provide such prior written notice, in which
event Landlord shall provide written notice as soon as practicable) to cure such failure, in which event Tenant shall reimburse Landlord for Landlord’s reasonable costs and expenses incurred in connection with curing such failure. The parties
acknowledge that the Ground Leases on the one hand, and this 

  
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Lease on the other hand, constitute separate contractual arrangements among separate parties and nothing in this Lease shall vitiate or otherwise affect the obligations of the parties to the
Ground Leases, and nothing in the Ground Leases shall vitiate or otherwise affect the obligations of the parties hereto pursuant to this Lease (except as specifically set forth in this Section 7.3). 

(b) Subject to Section 7.3(c) below, in the event of cancellation or termination of any Ground Lease for any reason whatsoever whether
voluntary or involuntary (by operation of law or otherwise) prior to the expiration date of this Lease, including extensions and renewals granted thereunder (other than the cancellation or termination of a Ground Lease entered into in connection
with a sale-leaseback transaction by Landlord (other than if such cancellation or termination resulted from Tenant’s default under this Lease), which cancellation or termination results in the Leased Property leased under such Ground Lease no
longer being subject to this Lease), then, this Lease and Tenant’s obligation to pay the Rent and Additional Charges hereunder and all other obligations of Tenant hereunder (other than such obligations of Tenant hereunder that concern solely
the applicable Ground Leased Property demised under the affected Ground Lease) shall continue unabated; provided that if Landlord (or any Fee Mortgagee) enters into a replacement lease with respect to the applicable Ground Leased Property on
substantially similar terms to those of such cancelled or terminated Ground Lease, then such replacement lease shall automatically become a Ground Lease hereunder and such Ground Leased Property shall remain part of the Leased Property hereunder.
Nothing contained in this Lease shall create, or be construed as creating, any privity of contract or privity of estate between Ground Lessor and Tenant. 

(c) With respect to any Ground Leased Property, the Ground Lease for which has an expiration date (taking into account any renewal options
exercised thereunder as of the Commencement Date or hereafter exercised) prior to the expiration of the Term (taking into account any exercised renewal options hereunder), this Lease shall expire solely with respect to such Ground Leased Property
concurrently with such Ground Lease expiration date (taking into account the terms of the following sentences of this Section 7.3(c)). There shall be no reduction in Rent nor Required Capital Expenditures by reason of such expiration with
respect to, and the corresponding removal from this Lease of, any such Ground Leased Property. Landlord (as ground lessee) shall be required to exercise all renewal options contained in each Ground Lease so as to extend the term thereof
(provided, that Tenant shall furnish to Landlord written notice of the outside date by which any such renewal option must be exercised in order to validly extend the term of any such Ground Lease; such notice shall be delivered no earlier
than one hundred twenty (120) days prior to the earliest date any such option may be validly exercised and no later than forty-five (45) days prior to the outside date by which such option must be validly exercised, which notice shall be
followed by a second notice from Tenant to Landlord of such outside date, such notice to be furnished to Landlord no later than fifteen (15) days prior to the outside date), and Landlord shall provide Tenant with a copy of Landlord’s
exercise of such renewal option. With respect to any Ground Lease that otherwise would expire during the Term, Tenant, on Landlord’s behalf, shall have the right to negotiate for a renewal or replacement of such Ground Lease with the
third-party ground lessor, on terms satisfactory to Tenant (subject, (i) to Landlord’s reasonable consent with respect to the provisions, terms and conditions thereof which would reasonably be expected to materially and adversely affect
Landlord, and (ii) in the case of any such renewal or replacement that would extend the term of such Ground Lease beyond the Term, to Landlord’s sole right to approve any such provisions, terms and conditions that would be applicable
beyond the Term). 

  
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 (d) Nothing contained in this Lease amends, or shall be construed to amend, any provision of the
Ground Leases. 
 (e) Tenant shall indemnify, defend and hold harmless the Landlord Indemnified Parties, the Ground Lessor, any master
lessor to Ground Lessor and any other party entitled to be indemnified by Landlord pursuant to the terms of any Ground Lease from and against any and all claims arising from or in connection with the applicable Facility and/or this Lease with
respect to which such party is entitled to indemnification by Landlord pursuant to the terms of any Ground Lease, and from and against all costs, attorneys’ fees, expenses and liabilities incurred in the defense of any such claim or any action
or proceeding brought thereon to the extent provided in the applicable Ground Lease; and in case any such action or proceeding be brought against any of the Landlord Indemnified Parties, any Ground Lessor or any master lessor to Ground Lessor or any
such party by reason of any such claim, Tenant, upon notice from Landlord or any of its Affiliates or such other Landlord Indemnified Party, such Ground Lessor or such master lessor to Ground Lessor or any such party, shall defend the same at
Tenant’s expense by counsel reasonably satisfactory to the party or parties indemnified pursuant to this paragraph or the Ground Lease. Notwithstanding the foregoing, in no event shall Tenant be required to indemnify, defend or hold harmless
the Landlord Indemnified Parties, the Ground Lessor, any master lessor to Ground Lessor or any other party from or against any claims to the extent resulting from (i) the gross negligence or willful misconduct of Landlord, or (ii) the
actions of Landlord except if such actions are the result of Tenant’s failure, in violation of this Lease, to act. 
 (f) To the extent
required under the applicable Ground Lease, Tenant hereby waives any and all rights of recovery (including subrogation rights of its insurers) from the applicable Ground Lessor, its agents, principals, employees and representatives for any loss or
damage, including consequential loss or damage, covered by any insurance policy maintained by Tenant, whether or not such policy is required under the terms of the Ground Lease. 

(g) Landlord shall not enter into any new ground leases with respect to the Leased Property or any portion thereof (except as provided by
Section 7.3(h)), or amend, modify or terminate any existing Ground Leases (except as provided by Section 7.3(b) or Section 7.3(c)), in each case without Tenant’s prior written consent in its reasonable discretion,
provided, that, Landlord may amend or modify Ground Leases in a manner that will not adversely affect Tenant (e.g., an amendment relating to a period following the end of the Term), and Landlord may acquire the fee interest in
the property leased pursuant to any Ground Lease, so long as Tenant’s rights and obligations hereunder are not adversely affected thereby. 

(h) Landlord may enter into new Ground Leases with respect to the Leased Property or any portion thereof (including pursuant to a
sale-leaseback transaction), provided that, notwithstanding anything herein to the contrary, (other than replacement Ground Lease(s) made pursuant to Section 7.3(b) or Ground Lease(s) made pursuant to the final sentence of Section
7.3(c)), Tenant shall not be obligated to comply with any additional or more onerous obligations under such new ground lease with which Tenant is not otherwise obligated to comply 

  
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under this Lease (and, without limiting the generality of the foregoing, Tenant shall not be required to incur any additional monetary obligations (whether for payment of rents under such new
Ground Lease or otherwise) in connection with such new Ground Lease) (except to a de minimis extent), unless Tenant approves such additional obligations in its sole and absolute discretion. 

7.4 Third-Party Reports. Upon Landlord’s reasonable request from time to time, Tenant shall
provide Landlord with copies of any third-party reports obtained by Tenant with respect to the Leased Property, including, without limitation, copies of surveys, environmental reports and property condition reports. 

7.5 Operating Standard. Tenant shall cause the Facilities to be Operated (as defined in the MLSA) in
a Non-Discriminatory (as defined in the MLSA) manner, in accordance with the Operating Standard (as defined in the MLSA) and subject to Manager’s Standard of Care (as defined in the MLSA) (in each case as
and to the extent required under the MLSA, including as provided in Section 2.1.1, Section 2.1.2, Section 2.1.3, Section 2.1.4, Section 2.3.1, and Section 2.3.2 of the MLSA, but subject to Section 5.9.1 of the
MLSA), in each case except to the extent failure to do so does not result in a material adverse effect on Landlord (taken as a whole with “Landlord” as defined under the Joliet Lease) or on all the Facilities (taken as a whole with the
Joliet Facility). For avoidance of doubt, the provisions of this Section 7.5 and Section 16.1(f) hereof shall continue to apply even if the Facilities are being managed pursuant to a Replacement Management Agreement.

 ARTICLE VIII 

REPRESENTATIONS AND WARRANTIES 

Each Party represents and warrants to the other that as of the Commencement Date: (i) this Lease and all other documents executed, or to
be executed, by it in connection herewith have been duly authorized and shall be binding upon it; (ii) it is duly organized, validly existing and in good standing under the laws of the state of its formation and, as applicable, is duly
authorized and qualified to perform this Lease within each State in which any Leased Property is located; and (iii) neither this Lease nor any other document executed or to be executed in connection herewith violates the terms of any other
agreement of such Party. 
 ARTICLE IX 

MAINTENANCE AND REPAIR 

9.1 Tenant Obligations. Subject to the provisions of Sections 10.1, 10.2 and 10.3
relating to Landlord’s approval of certain Alterations, Capital Improvements and Material Capital Improvements, Tenant, at its expense and without the prior consent of Landlord, shall maintain the Leased Property, and every portion thereof,
including all of the Leased Improvements and the structural elements and the plumbing, heating, ventilating, air conditioning, electrical, lighting, sprinkler and other utility systems thereof, all fixtures and all appurtenances to the Leased
Property including any and all private roadways, sidewalks and curbs appurtenant to the Leased Property, and Tenant’s Property, in each case in good order and 

  
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repair whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of the Leased Property, and, with reasonable promptness, make all
reasonably necessary and appropriate repairs thereto of every kind and nature, including those necessary to ensure continuing compliance with all Legal Requirements (including, without limitation, all Gaming Regulations and Environmental Laws) (to
the extent required hereunder), Insurance Requirements, the Ground Leases and Property Documents whether now or hereafter in effect (other than any Ground Leases or Property Documents (or modifications to Ground Leases or Property Documents) entered
into after the Commencement Date that impose obligations on Tenant (other than de minimis obligations) to the extent (x) entered into by Landlord without Tenant’s consent pursuant to Section 7.2(c) or (y) Tenant is not required
to comply therewith pursuant to Section 7.3(b), Section 7.3(g) or Section 7.3(h)) and, with respect to any Fee Mortgages, the applicable provisions of such Fee Mortgage Documents as and to the extent Tenant is required to comply
therewith pursuant to Article XXXI hereof, in each case except to the extent otherwise provided in Article XIV or Article XV of this Lease, whether interior or exterior, structural or
non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to or first arising after the Commencement Date. 

9.2 No Landlord Obligations. Landlord shall not under any circumstances be required to (i) build or
rebuild any improvements on the Leased Property; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature to the Leased Property, whether ordinary or extraordinary, structural or
non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto; or (iii) maintain the Leased Property in any way. Tenant hereby waives, to the extent permitted by law,
the right to make repairs at the expense of Landlord pursuant to any law in effect at the time of the execution of this Lease or hereafter enacted. This Section 9.2 shall not be construed to limit Landlord’s express
indemnities, if any, made hereunder. 
 9.3 Landlord’s Estate.
Nothing contained in this Lease and no action or inaction by Landlord shall be construed as (i) constituting the consent or request of Landlord, expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or
for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to the Leased Property, or any part thereof, or any Capital Improvement; or
(ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Landlord
in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Landlord in the Leased Property, or any portion thereof or upon the estate
of Landlord in any Capital Improvement. 
 9.4 End of Term. Subject to Sections 17.1(f) and
36.1, Tenant shall, upon the expiration or earlier termination of the Term, vacate and surrender and relinquish in favor of Landlord all rights to the Leased Property (together with all Capital Improvements, including all Tenant Capital
Improvements, except to the extent provided in Section 10.4 in respect of Tenant Material Capital Improvements), in each case, in the condition in which such Leased Property was originally received from Landlord and, in the
case of Capital Improvements (other than Tenant Material Capital Improvements to the extent provided in Section 10.4), when such 

  
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Capital Improvements were originally introduced to the Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for
ordinary wear and tear and subject to any Casualty Event or Condemnation as provided in Articles XIV and XV. 
 ARTICLE X

 ALTERATIONS 

10.1 Alterations, Capital Improvements and Material Capital Improvements. 

(a) Tenant shall not be required to obtain Landlord’s consent or approval to make any Alterations or Capital Improvements (including any
Material Capital Improvement) to the Leased Property in its reasonable discretion; provided, however, that all such Alterations and Capital Improvements (i) shall be of equal quality to or better quality than the applicable
portions of the existing Facility, as applicable, except to the extent Alterations or Capital Improvements of lesser quality would not, in the reasonable opinion of Tenant, result in any diminution of value of the Leased Property (or applicable
portion thereof), (ii) shall not have an adverse effect on the structural integrity of any portion of the Leased Property, and (iii) shall not otherwise result in a diminution of value to the Leased Property. If any Alteration or Capital
Improvement would not or does not meet the standards of the preceding sentence, then such Alteration or Capital Improvement shall be subject to Landlord’s written approval, which written approval shall not be unreasonably withheld, conditioned
or delayed. Further, if any Alteration or Capital Improvement (or the aggregate amount of all related Alterations or Capital Improvements) has a total budgeted cost (as reasonably evidenced to Landlord) in excess of Seventy-Five Million Dollars
($75,000,000) (the “Alteration Threshold”), then (1) such Alteration or Capital Improvement (or series of related Alterations or Capital Improvements) shall be subject to the approval of Landlord and, if applicable, subject to
Section 31.3, any Fee Mortgagee, in each case which written approval shall not be unreasonably withheld, conditioned or delayed, and (2) if the total unpaid amounts due and payable with respect to such Alteration or
Capital Improvement exceed the Alteration Threshold, Tenant shall promptly deliver to Landlord as security for the payment of such amounts and as additional security for Tenant’s obligations under this Lease, any of the following, in each case
in an amount equal to the amount by which the budgeted cost of such Alteration or Capital Improvement exceeds the Alteration Threshold: (A) cash, (B) cash equivalents, or (C) a Letter of Credit (the “Alteration Security”).
On a monthly basis during the construction of any such Alteration or Capital Improvement for which Alteration Security has been deposited, Tenant shall be entitled (either pursuant to a separate agreement to be entered into directly between Tenant
and Fee Mortgagee, in form and substance reasonably acceptable to Tenant, or, if no such agreement is entered into, then as an obligation of Landlord hereunder) to receive a portion of such Alteration Security, to be disbursed to Tenant (in the case
of cash or cash equivalents) or reduced (in the case of a Letter of Credit), as applicable, on a dollar-for-dollar basis, in the amount required to reimburse Tenant for
(or to enable Tenant to pay) the cost of such Alteration or Capital Improvement in amounts equal to the actual costs incurred by Tenant for such Alteration or Capital Improvement, subject to delivery by Tenant to Landlord of invoices related to the
work performed, and subject: (a) to compliance by Tenant with the applicable provisions of any Fee Mortgage Documents then in effect to the extent Tenant is required to comply therewith pursuant to Article XXXI hereof, and (b) in
the event no Fee 

  
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Mortgage then exists and Landlord is holding the Alteration Security, to the condition that no Tenant Event of Default exist at the time of determination and subject to the other applicable
provisions of this Article X. To the extent a construction consultant is required by any Fee Mortgagee, Landlord shall have the right to select and engage (subject to any Fee Mortgagee requirements), at Landlord’s cost and
expense, construction consultants to conduct inspections of the Leased Property during the construction of any Material Capital Improvements, provided that (x) such inspections shall be conducted in a manner as to not unreasonably interfere
with such construction or the operation of the Facility, (y) prior to entering the Leased Property, such consultants shall deliver to Tenant evidence of insurance reasonably satisfactory to Tenant and (z) (irrespective of whether the consultant
was engaged by Landlord, Tenant or otherwise) Landlord and Tenant shall be entitled to receive copies of such consultants’ work product and shall have direct access to and communication with such consultants. 

(b) Notwithstanding the foregoing or anything herein to the contrary, Tenant shall be required to obtain the written consent of Landlord prior
to commencing any Work in connection with any material development of the portion of the Leased Property known as the “Las Vegas land assemblage” and more particularly described on Exhibit F attached hereto; provided, however,
(i) that Landlord’s consent shall not be unreasonably withheld, conditioned or delayed, it being understood that it shall not be unreasonable for Landlord to withhold its consent if Tenant does not offer to Landlord a reasonable economic
arrangement in connection with such development, such determination to be made by Landlord and Tenant, each acting reasonably and (ii) that the following shall not require Landlord’s consent: (x) Preliminary Studies and permitting
(provided that such permitting does not change the zoning with respect to the Leased Property or otherwise have a permanent or adverse impact on the Leased Property) in preparation for such Work and (y) improvements to address drainage issues
with respect to such Leased Property as and to the extent requested by governmental authorities. 
 10.2 Landlord Approval of
Certain Alterations and Capital Improvements. If Tenant desires to make any Alteration or Capital Improvement for which Landlord’s approval is required pursuant to Section 10.1
above, Tenant shall submit to Landlord in reasonable detail a general description of the proposal, the projected cost of the applicable Work and such plans and specifications, permits, licenses, contracts and other information concerning the
proposal as Landlord may reasonably request. Such description shall indicate the use or uses to which such Alteration or Capital Improvement will be put and the impact, if any, on current and forecasted gross revenues and operating income
attributable thereto. Landlord may condition any approval of any Alteration or Capital Improvement (including any Material Capital Improvement), to the extent required pursuant to Section 10.1 above, upon any or all of the
following terms and conditions, to the extent reasonable under the circumstances: 
 (a) the Work shall be effected pursuant to detailed
plans and specifications approved by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed; 
 (b) the Work
shall be conducted under the supervision of a licensed architect or engineer selected by Tenant (the “Architect”) and, for purposes of this Section 10.2 only, approved by Landlord, which approval shall not
be unreasonably withheld, conditioned or delayed; 

  
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 (c) Landlord’s receipt from the general contractor and, if reasonably requested by Landlord,
any major subcontractor(s) of a performance and payment bond for the full value of such Work, which such bond shall name Landlord as an additional obligee and otherwise be in form and substance and issued by a Person reasonably satisfactory to
Landlord; 
 (d) Landlord’s receipt of reasonable evidence of Tenant’s financial ability to complete the Work without materially
and adversely affecting its cash flow position or financial viability; and 
 (e) such Alteration or Capital Improvement will not result in
the Leased Property becoming a “limited use” within the meaning of Revenue Procedure 2001-28 property for purposes of United States federal income taxes. 

10.3 Construction Requirements for Alterations and Capital Improvements. For any Alteration or Capital
Improvement having a budgeted cost in excess of Five Million and No/100 Dollars ($5,000,000) (and as otherwise expressly required under subsection (g) below), Tenant shall satisfy the following: 

(a) If and to the extent plans and specifications typically would be (or, in accordance with applicable Legal Requirements, are required to be)
obtained in connection with a project of similar scope and nature to such Alteration or Capital Improvement, Tenant shall, prior to commencing any Work in respect of the same, provide Landlord copies of such plans and specifications. Tenant shall
also supply Landlord with related documentation, information and materials relating to the Property in Tenant’s possession or control, including, without limitation, surveys, property condition reports and environmental reports, as Landlord may
reasonably request from time to time; 
 (b) No Work shall be commenced until Tenant shall have procured and paid for all municipal and
other governmental permits and authorizations required to be obtained prior to such commencement (if any), including those permits and authorizations required pursuant to any Gaming Regulations (if any), and, upon Tenant’s request, Landlord
shall join in the application for such permits or authorizations whenever such action is necessary; provided, however, that (i) any such joinder shall be at no cost or expense to Landlord; and (ii) any plans required to be
filed in connection with any such application which require the approval of Landlord as hereinabove provided shall have been so approved by Landlord; 

(c) Such Work shall not, and, if an Architect has been engaged for such Work, the Architect shall certify to Landlord that such construction
shall not, impair the structural strength of any component of any Facility or overburden the electrical, water, plumbing, HVAC or other building systems of any such component or otherwise violate applicable building codes or prudent industry
practices. 
 (d) If an Architect has been engaged for such Work and if plans and specifications have been obtained in connection with such
Work, the Architect shall certify to Landlord that the plans and specifications conform to, and comply with, in all material respects all applicable building, subdivision and zoning codes, laws, ordinances and regulations imposed by all governmental
authorities having jurisdiction over the Leased Property. 

  
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 (e) During and following completion of such Work, the parking and other amenities which are
located on or at the Leased Property shall remain adequate for the operation of the applicable Facility for its Primary Intended Use and not be less than that which is required by law (including any variances with respect thereto) and any applicable
Property Documents; provided, however, with Landlord’s prior consent, which approval shall not be unreasonably withheld, conditioned or delayed, and at no additional expense to Landlord, (i) to the extent sufficient
additional parking is not already a part of an Alteration or Capital Improvement, Tenant may construct additional parking on or at the Leased Property; or (ii) Tenant may acquire off-site parking to serve
the Leased Property as long as such parking shall be reasonably proximate to, and dedicated to, or otherwise made available to serve, the Leased Property; 

(f) All Work done in connection with such construction shall be done promptly and using materials and resulting in work that is at least as
good product and condition as the remaining areas of the Leased Property and in conformity with all Legal Requirements, including, without limitation, any applicable minority or women owned business requirement; and 

(g) If applicable in accordance with customary and prudent industry standards, promptly following the completion of such Work, Tenant shall
deliver to Landlord “as built” plans and specifications with respect thereto, certified as accurate by the licensed architect or engineer selected by Tenant to supervise such work, and copies of any new or revised certificates of occupancy
or other licenses, permits and authorizations required in connection therewith. In addition, with respect to any Alteration or Capital Improvement having a budgeted cost equal to or less than Five Million and No/100 Dollars ($5,000,000.00), Tenant
shall endeavor in good faith to (and upon Landlord’s request will) deliver to Landlord any “as-built” plans and specifications actually obtained by Tenant in connection with such Alteration or
Capital Improvement. 
 10.4 Landlord’s Right of First Offer to Fund Material Capital
Improvements. 
 (a) Landlord’s Right to Submit Landlord’s MCI Financing Proposal. In advance of commencing
any Work in connection with any Material Capital Improvement (provided, for purposes of clarification, that preliminary planning, designing, budgeting, evaluating (including environmental and integrity testing and the like) (collectively,
“Preliminary Studies”), permitting and demolishing in preparation for such Material Capital Improvement shall not be considered “commencing” for purposes hereof), Tenant shall provide written notice (“Tenant’s
MCI Intent Notice”) of Tenant’s intent to do so, which notice shall be accompanied by (i) a reasonably detailed description of the proposed Material Capital Improvement, (ii) the then-projected cost of construction of the
proposed Material Capital Improvement, (iii) copies of the plans and specifications, permits, licenses, contracts and Preliminary Studies concerning the proposed Material Capital Improvement, to the extent then-available, (iv) reasonable
evidence that such proposed Material Capital Improvement will, upon completion, comply with all applicable Legal Requirements, and (v) reasonably detailed information regarding the terms upon which Tenant is considering seeking financing
therefor, if any. To the extent in Tenant’s possession or control, Tenant shall provide to Landlord any additional information about such proposed Material Capital Improvements which Landlord may reasonably request. Landlord (or, with respect
to financing structured as a loan rather than as ownership of the real property by 

  
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Landlord with a lease back to Tenant, Landlord’s Affiliate) may, but shall be under no obligation to, provide all or any portion of the financing necessary to fund the applicable Material
Capital Improvement (along with related fees and expenses, such as title fees, costs of permits, legal fees and other similar transaction costs) by complying with the option exercise requirements set forth below. Within thirty (30) days of
receipt of Tenant’s MCI Intent Notice, Landlord shall notify Tenant in writing as to whether Landlord (or, if applicable, its Affiliate) is willing to provide financing for such proposed Material Capital Improvement and, if so, the terms and
conditions upon which Landlord (or, if applicable, its Affiliate) is willing to do so in reasonable detail, in the form of a proposed term sheet (such terms and conditions, “Landlord’s MCI Financing Proposal”). Upon receipt,
Tenant shall have ten (10) days to accept, reject or commence negotiating Landlord’s MCI Financing Proposal. 
 (b) If
Tenant Accepts Landlord’s MCI Financing Proposal. If Tenant accepts Landlord’s MCI Financing Proposal (either initially or, after negotiation, a modified version thereof) (an “Accepted MCI Financing Proposal”) and
such financing is actually consummated between Tenant and Landlord (or, if applicable, its Affiliate) as more particularly provided in Section 10.4(f) below (a “Landlord MCI Financing”), then, as and when constructed, such
Material Capital Improvement shall be deemed part of the Leased Property for all purposes except as specifically provided in Section 6.1(b) hereof (and, without limitation, such Material Capital Improvements shall be surrendered to (and all
rights therein shall be relinquished in favor of) Landlord upon the Expiration Date). 
 (c) If Landlord Declines to Make
Landlord’s MCI Financing Proposal. If Landlord declines or fails to timely submit Landlord’s MCI Financing Proposal, Tenant shall be permitted to either (1) use then-existing available financing or, subject to
Article XVII, enter into financing arrangements with any lender, preferred equity holder and/or other third-party financing source (a “Third-Party MCI Financing”) for such
Material Capital Improvement or (2) use Cash to pay for such Material Capital Improvement, provided, that if Tenant has not used then-existing, or entered into a new, Third-Party MCI Financing (or
commenced such Material Capital Improvement utilizing Cash) by the date that is nine (9) months following delivery of Tenant’s MCI Intent Notice, then, prior to entering into any such Third-Party MCI
Financing and/or commencing such Material Capital Improvement, Tenant shall again be required to send Tenant’s MCI Intent Notice seeking financing from Landlord (on the terms contemplated by this Section 10.4). 

(d) If Tenant Declines Landlord’s MCI Financing Proposal. If Landlord timely submits Landlord’s MCI Financing
Proposal and Tenant rejects or fails to accept or commence negotiating Landlord’s MCI Financing Proposal within the applicable 10-day period (or, following commencing negotiating said proposal, Tenant
notifies Landlord of Tenant’s decision to cease such discussions), then, subject to the remaining terms of this paragraph, Tenant shall be permitted to either (1) use then-existing, or, subject to Article XVII, enter into a new, Third-Party MCI Financing for such Material Capital Improvement (subject to the following proviso) or (2) use Cash to pay for such Material Capital Improvement, provided, that Tenant may not use
then-existing, or enter into a new, Third-Party MCI Financing, except in each case on terms that are, taken as a whole, economically more advantageous to Tenant than those offered under Landlord’s MCI
Financing Proposal. In determining if financing is economically more advantageous, consideration may be given to, among other items, (x) pricing, 

  
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amortization, length of term and duration of commitment period of such financing; (y) the cost, availability and terms of any financing sufficient to fund such Material Capital Improvement
and other expenditures which are material in relation to the cost of such Material Capital Improvement (if any) which are intended to be funded in connection with the construction of such Material Capital Improvement and which are related to the use
and operation of such Material Capital Improvement and (z) other customary considerations. Tenant shall provide Landlord with reasonable evidence of the terms of any such financing. If Tenant has not used then-existing, or entered into a new, Third-Party MCI Financing (or commenced such Material Capital Improvement utilizing Cash) by the date that is nine (9) months following receipt of Landlord’s MCI Financing Proposal, then, prior to entering
into any such Third-Party MCI Financing and/or commencing such Material Capital Improvement after such nine (9) month period, Tenant shall again be required to send Tenant’s MCI Intent Notice seeking
financing from Landlord (on the terms contemplated by this Section 10.4). For purposes of clarification, Tenant may use Cash to finance any applicable Material Capital Improvement (subject to the express terms and
conditions hereof, including, without limitation, Tenant’s obligation to provide Tenant’s MCI Intent Notice). 
 (e)
Ownership of Material Capital Improvements Not Financed by Landlord. If Tenant constructs a Material Capital Improvement utilizing Third-Party MCI Financing or Cash in accordance
with Sections 10.4(c) or (d) (such Material Capital Improvement being sometimes referred to in this Lease as a “Tenant Material Capital Improvement”), then, (A) as and when constructed, such Material Capital
Improvement shall be deemed part of the Leased Property for all purposes except as specifically provided in Section 6.1(b) hereof, (B) upon any termination of this Lease prior to the Stated Expiration Date as a result of a Tenant Event
of Default (except in the event a Permitted Leasehold Mortgagee has exercised its right to obtain a New Lease and complies in all respects with Section 17.1(f) and any other applicable provisions of this Lease), such Material Capital
Improvements shall be owned by Landlord without any reimbursement by Landlord to Tenant, and, (C) upon the Stated Expiration Date, such Material Capital Improvements shall be transferred to Tenant; provided, however, upon written
notice to Tenant at least one hundred eighty (180) days prior to the Stated Expiration Date, Landlord shall have the option to reimburse Tenant for such Tenant Material Capital Improvements in an amount equal to the Fair Market Ownership Value
thereof, and, if Landlord elects to reimburse Tenant for such Tenant Material Capital Improvements, any amount due to Tenant for such reimbursement shall be credited against any amounts owed by Tenant to Landlord under this Lease as of the Stated
Expiration Date and any remaining portion of such amount shall be paid by Landlord to Tenant on the Stated Expiration Date. If Landlord fails to deliver such written notice electing to reimburse Tenant for such Tenant Material Capital Improvements
at least one hundred eighty (180) days prior to the Stated Expiration Date, or otherwise does not consummate such reimbursement at least sixty (60) days prior to the Stated Expiration Date (other than as a result of Tenant’s acts or
omissions in violation of this Lease), then Landlord shall be deemed to have elected not to reimburse Tenant for such Tenant Material Capital Improvements. If Landlord elects or is deemed to have elected not to reimburse Tenant for such Tenant
Material Capital Improvements in accordance with the foregoing sentence, Tenant shall have the option to either (1) prior to the Stated Expiration Date, remove such Tenant Material Capital Improvements and restore the affected Leased Property
to the same or better condition existing prior to such Tenant Material Capital Improvement being constructed, at Tenant’s sole cost and expense, in which event such Tenant Material Capital Improvements shall be owned by Tenant,

  
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or (2) leave the applicable Tenant Material Capital Improvements at the Leased Property at the Stated Expiration Date, at no cost to Landlord, in which event such Tenant Material Capital
Improvements shall be owned by Landlord. 
 (f) Landlord MCI Financing. In the event of an Accepted MCI Financing
Proposal, Tenant shall provide Landlord with the following prior to any advance of funds under such Landlord MCI Financing: 

(i) any information, certificates, licenses, permits or documents reasonably requested by Landlord which are necessary and
obtainable to confirm that Tenant will be able to use the Material Capital Improvements upon completion thereof in accordance with the Primary Intended Use, including all required federal, state or local government licenses and approvals; 

(ii) an officer’s certificate and, if requested, a certificate from Tenant’s Architect providing appropriate backup
information, setting forth in reasonable detail the projected or actual costs related to such Material Capital Improvements; 

(iii) except to the extent covered by the amendment referenced in clause (iv) below, a construction loan and/or
funding agreement (and such other related instruments and agreements), in a form reasonably agreed to by Landlord and Tenant, reflecting the terms of the Landlord MCI Financing, setting forth the terms of the Accepted MCI Financing Proposal, and
without additional requirements on Tenant (including, without limitation, additional bonding or guaranty requirements) except those which are reasonable and customary and consistent in all respects with this Section 10.4 and the terms of
the Accepted MCI Financing Proposal; 
 (iv) except to the extent covered by the construction loan and/or funding agreement
referenced in clause (iii) above, an amendment to this Lease, in a form reasonably agreed to by Landlord and Tenant, which may include, among other things, an increase in the Rent (in amounts as agreed upon by the Parties pursuant to the
Accepted MCI Financing Proposal), and other provisions as may be necessary or appropriate; 
 (v) a deed conveying title to
Landlord to any additional Land acquired for the purpose of constructing the Material Capital Improvement, free and clear of any liens or encumbrances except those approved by Landlord, and accompanied by (x) an owner’s policy of title
insurance insuring the Fair Market Ownership Value of fee simple or leasehold (as applicable) title to such Land and any improvements thereon, free of any exceptions other than liens and encumbrances that do not materially interfere with the
intended use of the Leased Property or are otherwise approved by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed, and (y) an ALTA survey thereof; 

(vi) if Landlord obtains a lender’s policy of title insurance in connection with such Landlord MCI Financing, for each
advance, endorsements to any such policy of title insurance reasonably satisfactory in form and substance to Landlord (i) updating the same without any additional exception except those that do not materially

  
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affect the value of such land and do not interfere with the intended use of the Leased Property, or as may otherwise be permitted under this Lease, or as may be approved by Landlord, which
approval shall not be unreasonably withheld, conditioned or delayed, and (ii) increasing the coverage thereof by an amount equal to the then-advanced cost of the Material Capital Improvement; and 

(vii) such other billing statements, invoices, certificates, endorsements, opinions, site assessments, surveys, resolutions,
ratifications, lien releases and waivers and other instruments and information which are reasonable and customary and consistent in all respects with this Section 10.4 and the terms of the Accepted MCI Financing Proposal. 

In the event that (1) Tenant is unable, for reasons beyond Tenant’s reasonable control, to satisfy any of the requirements set forth in this
Section 10.4(f) (and Landlord is unable or unwilling to waive the same), (2) Landlord and Tenant are unable (despite good faith efforts continuing for at least sixty (60) days after agreement on the Accepted MCI Financing Proposal)
to agree on any of the requirements of, or the form of any document required under, this Section 10.4(f), or (3) Landlord fails or refuses to consummate the Landlord MCI Financing and/or advance funds thereunder, then, notwithstanding
anything to the contrary in this Section 10.4, Tenant shall be entitled to use then-existing, or, subject to Article XVII, enter into a new, Third-Party MCI Financing for such
Material Capital Improvement or use Cash to pay for such Material Capital Improvement, without any requirement to send a further Tenant’s MCI Intent Notice to Landlord, provided, that such Material Capital Improvement shall be treated hereunder
as a Tenant Material Capital Improvement, unless the circumstances described in clause (1) shall have occurred. 
 10.5
Minimum Capital Expenditures. 
 (a) Minimum Capital Expenditures. 

(i) Annual Minimum Cap Ex Requirement. During each full Fiscal Year during the Term, commencing upon the
first (1st) full Fiscal Year during the Term, measured as of the last day of each such Fiscal Year, on a collective basis for CEOC and its subsidiaries, Tenant and Other Tenants shall expend Capital Expenditures and Other Capital Expenditures in an
aggregate amount equal to no less than the Annual Minimum Cap Ex Amount (the “Annual Minimum Cap Ex Requirement”). 

(ii) Annual Minimum Per-Lease B&I Cap Ex Requirement. During
each full Fiscal Year during the Term, commencing upon the first (1st) full Fiscal Year during the Term, measured as of the last day of each such Fiscal Year, Tenant shall expend Capital Expenditures with respect to the Leased Property in an
aggregate that, when combined with the amount of Joliet Capital Expenditures expended with respect to the Joliet Leased Property, is equal to at least one percent (1%) of the sum of (a) the Net Revenue from the Facilities for the prior Fiscal
Year plus (b) the Net Revenue (as defined in the Joliet Lease) from the Joliet Facility for the prior Fiscal Year, on Capital Expenditures and Joliet Capital Expenditures that, in each case, constitute installation or restoration and repair or
other improvements of items with respect to (x) the Leased 

  
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Property under this Lease and (y) the Joliet Leased Property under the Joliet Lease (the “Annual Minimum Per-Lease B&I Cap Ex
Requirement”). In the event of expiration, cancellation or termination of any Ground Lease for any reason whatsoever whether voluntary or involuntary (by operation of law or otherwise), except for a cancellation or termination due to
Landlord’s failure to extend the term thereof where Landlord was required to do so hereunder, prior to the expiration date of this Lease, including extensions and renewals granted thereunder, then, for purposes of calculating the amount of Net
Revenue from the Facility for determining the Annual Minimum Per-Lease B&I Cap Ex Requirement, the Net Revenue attributable to the portion of the Leased Property subject to such Ground Lease for the Lease
Year immediately prior to such expiration, cancellation or termination of such Ground Lease thereafter shall continue to be included in the calculation of Net Revenue (except to the extent such Ground Lease is replaced by a replacement Ground Lease
for all or substantially all of such portion of the Leased Property). 
 (iii) Triennial Minimum Cap Ex Requirement
A. During each full Triennial Period during the Term, commencing upon the first (1st) full Triennial Period during the Term, measured as of the last day of each such Triennial Period, on a collective basis for CEOC and its subsidiaries,
Tenant and Other Tenants shall expend Capital Expenditures and Other Capital Expenditures in an aggregate amount equal to no less than the Triennial Minimum Cap Ex Amount A (the “Triennial Minimum Cap Ex Requirement A”). 

(iv) Triennial Minimum Cap Ex Requirement B. During each full Triennial Period during the Term, commencing upon
the first (1st) full Triennial Period during the Term, measured as of the last day of each such Triennial Period, Tenant shall expend Capital Expenditures in an aggregate amount that, when combined with the amount of Joliet Capital Expenditures
expended by the Other Tenant under the Joliet Lease, is equal to no less than the greater of (a) the amount which, when added to the amount of Other Capital Expenditures (other than Joliet Capital Expenditures) expended by Other Tenants (other
than the Other Tenant under the Joliet Lease) toward the Triennial Minimum Cap Ex Requirement B (as defined in the Other Leases) during the same time period, equals the Triennial Minimum Cap Ex Amount B, but in no event more than the Triennial
Allocated Minimum Cap Ex Amount B Ceiling, and (b) the Triennial Allocated Minimum Cap Ex Amount B Floor (the “Triennial Minimum Cap Ex Requirement B”). 

(v) Partial Periods. If the initial or final portion of the Term of this Lease is a partial calendar year
(i.e., the Commencement Date of this Lease is other than January 1 or the Expiration Date is other than December 31, as applicable; any such partial calendar year, a “Stub Period”), then the Triennial Minimum Cap Ex Amount
A and Triennial Minimum Cap Ex Amount B shall be adjusted as follows: (a) the initial (or final, as applicable) Triennial Period under this Lease shall be expanded so that it covers both the Stub Period and the first (1st) (or final, as
applicable) full period of three calendar years during the Term, (b) the Triennial Minimum Cap Ex Amount A for such expanded initial (or final, as applicable) Triennial Period shall be equal to (x) Four Hundred Ninety-Five Million and
No/100 Dollars ($495,000,000.00), plus (y) the product 

  
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of the Stub Period Multiplier (as defined below) multiplied by One Hundred Sixty-Five Million and No/100 Dollars ($165,000,000.00) (and (i) the Services Co Capital Expenditures allocated by
Services Co to Tenant during such expanded initial (or final, as applicable) Triennial Period shall not exceed (x) Seventy-Five Million and No/100 Dollars ($75,000,000.00) plus (y) the product of the Stub Period Multiplier multiplied by
Twenty Five Million and No/100 Dollars ($25,000,000.00), and (ii) the Capital Expenditures in respect of the London/Chester Properties during such expanded initial (or final, as applicable) Triennial Period shall not exceed (x) Thirty
Million and No/100 Dollars ($30,000,000.00) plus (y) the product of the Stub Period Multiplier multiplied by Ten Million and No/100 Dollars ($10,000,000.00)), (c) the Triennial Minimum Cap Ex Amount B for such expanded initial (or final, as
applicable) Triennial Cap Ex Calculation Period shall be equal to (x) Three Hundred Fifty Million and No/100 Dollars ($350,000,000.00), plus (y) the product of the Stub Period Multiplier multiplied by One Hundred Sixteen Million Six
Hundred Sixty-Six Thousand Six Hundred Sixty-Six and No/100 Dollars ($116,666,666.00), and (d) the Triennial Allocated Minimum Cap Ex Amount B Floor for such
expanded initial (or final, as applicable) Triennial Period shall remain unchanged from the amounts then in effect. Notwithstanding the foregoing, in the event that (1) the Triennial Minimum Cap Ex Amount A is reduced in accordance with the
definition thereof, then (A) the Four Hundred Ninety-Five Million and No/100 Dollars ($495,000,000.00) in the foregoing clause (b)(x) shall be modified to reflect the Triennial Minimum Cap Ex Amount A then in effect at the time of determination
and (B) the One Hundred Sixty-Five Million and No/100 Dollars ($165,000,000.00) in the foregoing clause (b)(y) shall be modified to reflect the Triennial Minimum Cap Ex Amount A then in effect divided by three (3), and (2) the Triennial
Minimum Cap Ex Amount B is reduced in accordance with the definition thereof, then (A) the Three Hundred Fifty Million and No/100 Dollars ($350,000,000.00) in the foregoing clause (c)(x) shall be modified to reflect the Triennial Minimum Cap Ex
Amount B then in effect at the time of determination and (B) the One Hundred Sixteen Million Six Hundred Sixty-Six Thousand Six Hundred Sixty-Six and No/100 Dollars
($116,666,666.00) in the foregoing clause (c)(y) shall be modified to reflect the Triennial Minimum Cap Ex Amount B then in effect divided by three (3). The term “Stub Period Multiplier” means a fraction, expressed as a percentage,
the numerator of which is the number of days occurring in a Stub Period, and the denominator of which is 365. For the avoidance of doubt, if the Expiration Date of this Lease is other than the last day of a Fiscal Year, then Tenant’s compliance
with each of the Minimum Cap Ex Requirements during the applicable periods preceding such Expiration Date that would otherwise end after such Expiration Date shall be measured as of such Expiration Date and be subject to the prorations set forth
above. 
 (vi) Acquisitions of Material Property. If any real property having a value greater than Fifty
Million and No/100 Dollars ($50,000,000.00) is acquired by Landlord or its Affiliate and included in this Lease or an Other Lease as part of the Leased Property or Other Leased Property (as applicable), then the Minimum Cap Ex Requirements shall be
adjusted as may be agreed upon by Landlord and Tenant in connection with such acquisition and the inclusion of such property as Leased Property or Other Leased Property hereunder or thereunder. 

  
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 (vii) Dispositions of Material Property. In the event of a
partial termination of this Lease or termination of an Other Lease or the disposition of any Material Leased Property or Material London/Chester Property, in each case for which the Minimum Cap Ex Amounts are to be decreased in accordance herewith,
and such termination or disposition occurs on any day other than the first (1st) day of a Fiscal Year, then, for purposes of determining Required Capital Expenditures and adjusting the Minimum Cap Ex Requirements, as applicable, such termination or
disposition and the associated reduction in the Minimum Cap Ex Requirements each shall be deemed to have occurred on the first (1st) day of the then-current Fiscal Year, such that Capital Expenditures with respect to the applicable terminated or
disposed property shall not be counted toward the calculation of Required Capital Expenditures for such entire Fiscal Year, and the Minimum Cap Ex Requirements shall be adjusted (as applicable) to reflect such termination or disposition as
applicable and the associated reduction in the Minimum Cap Ex Requirements for such entire Fiscal Year. 
 (viii)
Application of Capital Expenditures. For the avoidance of doubt: (A) Required Capital Expenditures counted toward satisfying one of the Minimum Cap Ex Requirements also shall count (to the extent applicable) toward
satisfying the other Minimum Cap Ex Requirements to the extent otherwise provided herein; (B) expenditures with respect to any property that is not included as Leased Property or Other Leased Property under this Lease or an Other Lease (as
applicable) shall not constitute “Capital Expenditures” nor count toward the Minimum Cap Ex Requirements for purposes of the Leased Property Tests; (C) expenditures with respect to any property acquired by CEOC or its subsidiaries
after the Commencement Date which is not included as Leased Property or Other Leased Property under this Lease or an Other Lease (as applicable) shall not constitute “Capital Expenditures” nor count toward the Minimum Cap Ex Requirements
for purposes of the Leased Property Tests or the All Property Tests, and (D) expenditures with respect to any property (other than the London/Chester Properties) which is not included as Leased Property or Other Leased Property under this Lease
or an Other Lease (as applicable) shall not constitute “Capital Expenditures” or count towards the Minimum Cap Ex Requirements for purposes of the All Property Tests. 

(ix) Unavoidable Delays. In the event an Unavoidable Delay occurs during any full Fiscal Year or full
Triennial Period during the Term that delays Tenant’s ability to perform Capital Expenditures prior to the expiration of such period, the applicable period for satisfying the Minimum Cap Ex Requirements applicable to such Fiscal Year or
Triennial Period (as applicable) during which such Unavoidable Delay occurred shall be extended, on a day-for-day basis, for the same amount of time that such
Unavoidable Delay affects Tenant’s ability to perform the Capital Expenditures, up to a maximum extension in each instance of one (1) Fiscal Year (for the Annual Minimum Cap Ex Requirement and the Annual Minimum Per-Lease B&I Cap Ex Requirement) or one (1) Triennial Period (for the Triennial Minimum Cap Ex Requirement A and the Triennial Minimum Cap Ex Requirement B). For the avoidance of doubt, Tenant’s
obligation to satisfy the Minimum Cap Ex Requirements during any period during which an Unavoidable Delay did not occur shall not be extended as a result of the occurrence of an Unavoidable Delay during a prior period. 

  
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 (x) Certain Remedies. The Parties acknowledge that
Tenant’s agreement to satisfy the Minimum Cap Ex Requirements as required in this Lease is a material inducement to Landlord’s agreement to enter into this Lease, the MLSA and the other Lease/MLSA Related Agreements and, accordingly, if
Tenant fails to expend Capital Expenditures (or deposit funds into the Cap Ex Reserve) as and when required by this Lease and then, further, fails to cure such failure within sixty (60) days of receipt of written notice of such failure from
Landlord, then the same shall be a Tenant Event of Default hereunder, and without limitation of any of Landlord’s other rights and remedies, Landlord shall have the right to seek the remedy of specific performance to require Tenant to expend
the Required Capital Expenditures (or deposit funds into the Cap Ex Reserve). Furthermore, for the avoidance of doubt, and without limitation of Guarantor’s obligations under the MLSA (and as more particularly provided therein), Tenant
acknowledges and agrees that the obligation of Tenant to expend the Required Capital Expenditures (or deposit funds into the Cap Ex Reserve) as provided in this Lease in each case constitutes a part of the monetary obligations of Tenant that are
guaranteed by the Guarantor under the MLSA and, with respect to Required Capital Expenditures required to be spent during the Term, shall survive termination of this Lease. 

(b) Cap Ex Reserve. 

(i) Deposits in Lieu of Expenditures. Notwithstanding anything to the contrary set forth in this Lease, if Tenant and
Other Tenants do not expend Capital Expenditures and Other Capital Expenditures sufficient to satisfy the Minimum Cap Ex Requirements, then, so long as, as of the last date when such Minimum Cap Ex Requirements may be satisfied hereunder, there are
Cap Ex Reserve Funds (as defined below) and Cap Ex Reserve Funds (as defined in each Other Lease) on deposit in the Cap Ex Reserve (as defined below) or in the Cap Ex Reserve (as defined in each Other Lease) in an aggregate amount at least equal to
such deficiency, then Tenant shall not be deemed to be in breach or default of its obligations hereunder to satisfy the Minimum Cap Ex Requirements, provided that Tenant (or Other Tenants, as applicable), shall spend such amounts so deposited in the
Cap Ex Reserve (as defined herein or in an Other Lease, as applicable) within six (6) months after the last date when the Minimum Cap Ex Requirements to which such amounts relate may be satisfied hereunder (subject to extension in the event of
an Unavoidable Delay during such six (6) month period, on a day-for-day basis, for the same amount of time that such Unavoidable Delay affects Tenant’s ability
to perform the Capital Expenditures). For the avoidance of doubt, any funds disbursed from the Cap Ex Reserve and spent on Capital Expenditures as described in this Section shall be applied to the Minimum Cap Ex Requirements for the period for which
such funds were deposited (and shall be deemed to be the funds that have been in the Cap Ex Reserve for the longest period of time) and shall not be applied to the Minimum Cap Ex Requirements for the subsequent period in which they are actually
spent. 
 (ii) Deposits into Cap Ex Reserve. Tenant may, at its election, at any time, deposit funds (the “Cap
Ex Reserve Funds”) into an Eligible Account held by Tenant (the “Cap Ex Reserve”). If required by Fee Mortgagee, Landlord and Tenant shall (and, if applicable, Tenant shall cause Manager to) enter into a customary and

  
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reasonable control agreement for the benefit of Fee Mortgagee and Landlord with respect to the Cap Ex Reserve. Tenant shall not commingle Cap Ex Reserve Funds with other monies held by Tenant or
any other party. All interest on Cap Ex Reserve Funds shall be for the benefit of Tenant and added to and become a part of the Cap Ex Reserve and shall be disbursed in the same manner as other monies deposited in the Cap Ex Reserve. Tenant shall be
responsible for payment of any federal, state or local income or other tax applicable to the interest earned on the Cap Ex Reserve Funds credited or paid to Tenant. 

(iii) Disbursements from Cap Ex Reserve. Tenant shall be entitled to use Cap Ex Reserve Funds solely for the purpose of
paying for (or reimbursing Tenant for) the cost of Capital Expenditures. Subject to compliance by Tenant with the provisions of the Fee Mortgage Documents to the extent Tenant is required to comply therewith pursuant to Article XXXI hereof,
Landlord shall permit disbursements to Tenant of Cap Ex Reserve Funds from the Cap Ex Reserve to pay for Capital Expenditures or to reimburse Tenant for Capital Expenditures, within ten (10) days following written request from Tenant, which
request shall specify the amount of the requested disbursement and a general description of the type of Capital Expenditures to be paid or reimbursed using such Cap Ex Reserve Funds. Tenant shall not make a request for disbursement from the Cap Ex
Reserve (x) more frequently than once in any calendar month nor (y) in amounts less than Fifty Thousand and No/100 Dollars ($50,000.00). Any Cap Ex Reserve Funds remaining in the Cap Ex Reserve on satisfaction of the Minimum Cap Ex
Requirements for which such Cap Ex Reserve Funds were deposited or on the Expiration Date shall be returned by Landlord to Tenant, provided that Landlord shall have the right to apply Cap Ex Reserve Funds remaining on the Expiration Date against any
amounts owed by Tenant to Landlord as of the Expiration Date and/or the sum of any remaining Required Capital Expenditures required to have been incurred prior to the Expiration Date. 

(iv) Security Interest in Cap Ex Reserve Funds. Tenant grants to Landlord a first-priority security interest in the Cap
Ex Reserve and all Cap Ex Reserve Funds, as additional security for performance of Tenant’s obligations under this Lease. Landlord shall have the right to collaterally assign the security interest granted to Landlord in the Cap Ex Reserve and
Cap Ex Reserve Funds to any Fee Mortgagee. Notwithstanding the foregoing or anything herein to the contrary, (i) Landlord may not foreclose upon the lien on the Cap Ex Reserve and Cap Ex Reserve Funds, and Fee Mortgagee may not apply the Cap Ex
Reserve Funds against the Fee Mortgage, in each case prior to the occurrence of both (x) Landlord’s Enforcement Condition and (y) the termination of this Lease by Landlord pursuant to Section 16.2(x) hereof, (ii) any time
during which a Tenant Event of Default is continuing, Fee Mortgagee may apply Cap Ex Reserve Funds toward the payment of Capital Expenditures incurred by Tenant and (iii) Landlord shall have the right to use Cap Ex Reserve Funds as provided in
Section 10.5(e) (in which event, such expenditures of Cap Ex Reserve Funds shall be deemed Capital Expenditures of Tenant for purposes of the Required Capital Expenditures). Landlord acknowledges that a Permitted Leasehold Mortgagee may have
a Lien on the Cap Ex Reserve, provided that such Lien in favor of a Permitted Leasehold Mortgagee is subject and subordinate to the first priority lien thereon in favor of Landlord as set forth in the Intercreditor Agreement. 

  
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 (c) Capital Expenditures Report. Within thirty (30) days after the end
of each calendar month during the Term, Tenant shall submit to Landlord a report, substantially in the form attached hereto as Exhibit C setting forth, with respect to such month, on an unaudited, Facility-by-Facility basis, (A) revenues for the Leased Property and the Other Leased Property, (B) Capital Expenditures with respect to the Leased Property, (C) Other Capital Expenditures with
respect to the Other Leased Property, and (D) aggregate Services Co Capital Expenditures on a year-to-date basis and the portion thereof allocated to Tenant and its
subsidiaries (and a description of the methodology by which such allocation was made). Landlord shall keep each such report confidential in accordance with Section 41.22 of this Lease. 

(d) Annual Capital Budget. Tenant shall furnish to Landlord, for informational purposes only, a copy of the annual
capital budget for each Facility for each Fiscal Year, in each case (x) contemporaneously with Other Tenant’s delivery to the applicable landlord of the applicable annual capital budget for such Fiscal Year pursuant to the Other Lease, and
(y) not later than fifty-five (55) days following the commencement of the Fiscal Year to which such annual capital budget relates. For the avoidance of doubt, without limitation of Tenant’s Capital Expenditure requirements pursuant to
Section 10.5(a), Tenant shall not be required to comply with such annual capital budget and it shall not be a breach or default by Tenant hereunder in the event Tenant deviates from such annual capital budget. 

(e) Self Help. In order to facilitate Landlord’s completion of any work, repairs or restoration of any nature that
are required to be performed by Tenant in accordance with any provisions hereof, upon the occurrence of the earlier of (i) an Event of Default by Tenant hereunder, and (ii) any default by Tenant in the performance of such work under this
Lease or as required by any applicable Additional Fee Mortgage Requirement, then, so long as (x) Landlord has provided Tenant thirty (30) days’ prior written notice thereof and Tenant has not cured such default within such thirty day
period) and (y) an “Event of Default” has occurred under the Fee Mortgage Documents, Landlord shall have the right, from and after the occurrence of a default beyond applicable notice and cure periods under any applicable Fee Mortgage
Documents, to enter onto the Leased Property and perform any and all such work and labor necessary as reasonably determined by Landlord to complete any work required by Tenant hereunder or expend any sums therefor and/or employ watchmen to protect
the Leased Property from damage (collectively, the “Landlord Work”). In connection with the foregoing, Landlord shall have the right: (i) to use any funds in the Cap Ex Reserve for the purpose of making or completing such
Landlord Work; (ii) to employ such contractors, subcontractors, agents, architects and inspectors as shall be required for such purposes; (iii) to pay, settle or compromise all existing bills and claims which are or may become Liens
against the Leased Property, or as may be necessary or desirable for the completion of such Landlord Work, or for clearance of title; (iv) to execute all applications and certificates in the name of Tenant which may be required by any of the
contract documents; (v) to prosecute and defend all actions or proceedings in connection with the Leased Property or the rehabilitation and repair of the Leased Property; and (vi) to do any and every act which Tenant might do in its own
behalf to complete the Landlord Work. Nothing in this Lease shall: (1) make Landlord responsible for making or completing any Landlord Work; (2) require Landlord to expend funds in addition to the Cap Ex Reserve to make or complete any
Landlord Work; (3) obligate Landlord to proceed with any Landlord Work; or (4) obligate Landlord to demand from Tenant additional sums to make or complete any Landlord Work. 

  
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 ARTICLE XI 

LIENS 
 Subject to the
provisions of Article XII relating to permitted contests, Tenant will not directly or indirectly create or allow to remain and will promptly discharge at its expense any lien, encumbrance, attachment, title retention agreement or claim upon
the Leased Property or any portion thereof or any attachment, levy, claim or encumbrance in respect of the Rent, excluding, however, (i) this Lease; (ii) the matters that existed as of the Commencement Date with respect to the Leased
Property or any portion thereof; (iii) restrictions, liens and other encumbrances which are consented to in writing by Landlord (such consent not to be unreasonably withheld, conditioned or delayed); (iv) liens for Impositions which Tenant
is not required to pay hereunder (if any); (v) Subleases permitted by Article XXII and any other lien or encumbrance expressly permitted under the provisions of this Lease; (vi) liens for Impositions not yet delinquent or being
contested in accordance with Article XII, provided that Tenant has provided appropriate reserves to the extent required under GAAP and any foreclosure or similar remedies with respect to such Impositions have not been instituted and no
notice as to the institution or commencement thereof has been issued except to the extent such institution or commencement is stayed no later than twenty (20) days after such notice is issued; (vii) liens of mechanics, laborers,
materialmen, suppliers or vendors for sums either disputed or not yet due, provided that (1) the payment of such sums shall not be postponed under any related contract for more than sixty (60) days after the completion of the action
giving rise to such lien unless being contested in accordance with Article XII and such reserve or other appropriate provisions as shall be required by law or GAAP shall have been made therefor and no foreclosure or similar remedies with
respect to such liens has been instituted and no notice as to the institution or commencement thereof have been issued except to the extent such institution or commencement is stayed no later than twenty (20) days after such notice is issued;
(2) any such liens are in the process of being contested as permitted by Article XII; or (3) in the event any foreclosure action is commenced under any such lien, Tenant shall immediately remove, discharge or bond over such lien;
(viii) any liens created by Landlord; (ix) liens related to equipment leases or equipment financing for Tenant’s Property which are used or useful in Tenant’s business on the Leased Property or any portion thereof,
provided that the payment of any sums due under such equipment leases or equipment financing shall either (1) be paid as and when due in accordance with the terms thereof, or (2) be in the process of being contested as permitted by
Article XII (and provided that a lienholder’s removal of any such Tenant’s Property from the Leased Property shall be subject to all applicable provisions of this Lease, and, without limitation, Tenant or such lienholder shall
restore the Leased Property from any damage effected by such removal); (x) liens granted as security for the obligations of Tenant and its Affiliates under a Permitted Leasehold Mortgage (and the documents relating thereto); provided,
however, in no event shall the foregoing be deemed or construed to permit Tenant to encumber the Leasehold Estate (or a Subtenant to encumber its subleasehold interest) in the Leased Property or any portion thereof (other than, in each case,
to a Permitted Leasehold Mortgagee or otherwise to the extent expressly permitted hereunder), without the prior written consent of Landlord, which consent may be granted or withheld in Landlord’s sole discretion; and provided
further that upon request Tenant shall be required to provide Landlord with fully executed copies of any and all Permitted Leasehold Mortgages; and (xi) except as otherwise expressly provided in this Lease, easements, rights-of-way, restrictions (including zoning restrictions), covenants, encroachments, 

  
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protrusions and other similar charges or encumbrances, and minor title deficiencies on or with respect to the Leased Property or any portion thereof, in each case whether now or hereafter in
existence, not individually or in the aggregate materially interfering with the conduct of the business on the Leased Property for the Primary Intended Use, taken as a whole. For the avoidance of doubt, nothing contained herein shall be deemed or
construed to prohibit the issuance of a lien on the Equity Interests in Tenant (it being agreed that any foreclosure by a lien holder on such interests in Tenant shall be subject to the restrictions on transfers of interests in Tenant and Change of
Control set forth in Article XXII) or to prohibit Tenant from pledging (A) its Tenant’s Property as collateral (1) in connection with financings of equipment and other purchase money indebtedness or
(2) to secure Permitted Leasehold Mortgages, or (B) its Accounts and other property of Tenant (other than Tenant’s Property); provided that, (x) all such pledges (other than those described in the foregoing clause (1)) of
Tenant’s Pledged Property shall be subject and subordinate to the security interest granted to Landlord pursuant to Section 6.3, and (y) Tenant shall in no event pledge to any Person that is not granted a
Permitted Leasehold Mortgage hereunder any of Tenant’s Property to the extent that such Tenant’s Property cannot be removed from the Leased Property without (I) damaging or impairing the Leased Property (other than in a de minimis
manner), (II) impairing in any material respect the operation of the Facility for its Primary Intended Use, or (III) impairing in any material respect Landlord’s or any Successor Tenant’s ability to acquire the Successor Assets at the
expiration or termination of the Term in accordance with Section 36.1 (after giving effect to the repayment of any indebtedness encumbering the Successor Assets and release of any liens thereon as required by such
Section 36.1). 
 ARTICLE XII 

PERMITTED CONTESTS 

Tenant, upon prior written notice to Landlord (except that no such notice shall be required to be given by Tenant to Landlord with respect to
matters not exceeding Five Million and No/100 Dollars ($5,000,000.00)), on its own or in Landlord’s name, at Tenant’s expense, may contest, by appropriate legal proceedings conducted in good faith and with due diligence, the amount,
validity or application, in whole or in part, of any licensure or certification decision (including pursuant to any Gaming Regulation), imposition of any disciplinary action, including both monetary and nonmonetary, pursuant to any Gaming
Regulation, Imposition, Legal Requirement, Insurance Requirement, lien, attachment, levy, encumbrance, charge or claim; provided, that (i) in the case of an unpaid Imposition, lien, attachment, levy, encumbrance, charge or claim, the
commencement and continuation of such proceedings shall suspend the collection thereof from Landlord and from the Leased Property; (ii) neither the Leased Property or any portion thereof, the Rent therefrom nor any part or interest in either
thereof would be in any danger of being sold, forfeited, attached or lost pending the outcome of such proceedings; (iii) in the case of a Legal Requirement, neither Landlord nor Tenant would be in any imminent danger of criminal or material
civil liability for failure to comply therewith pending the outcome of such proceedings; (iv) in the case of a Legal Requirement, Imposition, lien, encumbrance or charge, Tenant shall deliver to Landlord security in the form of cash, cash
equivalents or a Letter of Credit, if and as may be reasonably required by Landlord to insure ultimate payment of the same and to prevent any sale or forfeiture of the Leased Property or any portion thereof or the Rent by reason of such non-payment or noncompliance; (v) in the case of an Insurance 

  
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Requirement, the coverage required by Article XIII shall be maintained; (vi) upon Landlord’s request, Tenant shall keep Landlord reasonably informed as to the status of the
proceedings; and (vii) if such contest be finally resolved against Landlord or Tenant, Tenant shall promptly pay the amount required to be paid, together with all interest and penalties accrued thereon, or comply with the applicable Legal
Requirement or Insurance Requirement. Landlord, at Tenant’s expense, shall execute and deliver to Tenant such authorizations and other documents as may reasonably be required in any such contest, and, if reasonably requested by Tenant or if
Landlord so desires, Landlord shall join as a party therein. The provisions of this Article XII shall not be construed to permit Tenant to contest the payment of Rent or any other amount (other than Impositions or Additional Charges contested
in accordance herewith) payable by Tenant to Landlord hereunder. Tenant shall indemnify, defend, protect and save Landlord harmless from and against any liability, cost or expense of any kind that may be imposed upon Landlord in connection with any
such contest and any loss resulting therefrom, except to the extent resulting from actions independently taken by Landlord (other than actions taken by Landlord at Tenant’s direction or with Tenant’s consent). 

ARTICLE XIII 
 INSURANCE

 13.1 General Insurance Requirements. During the Term, Tenant shall, at its own cost and expense, maintain the minimum
kinds and amounts of insurance described below. Such insurance shall apply to the ownership, maintenance, use and operations related to the Leased Property and all property located in or on the Leased Property (including Capital Improvements and
Tenant’s Property). Except for policies insured by Tenant’s captive insurers, all policies shall be written with insurers authorized to do business in all states where Tenant operates and shall maintain A.M Best ratings of not less than “A-” “X” or better in the most recent version of Best’s Key Rating Guide. In the event that any of the insurance companies’ ratings fall below the requirements set forth above, Tenant
shall have one hundred eighty (180) days within which to replace such insurance company with an insurance company that qualifies under the requirements set forth above. It is understood that Tenant may utilize so called Surplus lines companies
and will adhere to the standard above. 
 (a) Property Insurance. 

(i) Property insurance shall be maintained on the Leased Property (including barges and vessels used for gaming), Capital
Improvements and Tenant’s Property against loss or damage under a policy with coverage not less than that found on Insurance Services Office (ISO) “Causes of Loss – Special Form” and ISO “Building and Personal Property
Form” or their equivalent forms (e.g., an “all risk” policy), in a manner consistent with the commercially reasonable practices of similarly situated companies engaged in the same or similar businesses operating in the same or similar
locations. Such property insurance policy shall be in an amount not less than the greater of (a) Two Billion and No/100 Dollars ($2,000,000,000.00) and (b) the full replacement cost of the Facility having the highest Fair Market Ownership
Value at any given time; provided, that Tenant shall have the right (i) to limit maximum insurance coverage for loss or damage by earthquake (including earth movement) to a minimum amount of the

  
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projected ground up loss with a 500-year return period (as determined annually by an independent firm using RMS catastrophe modeling software or
equivalent, and taking into account all locations insured under this property insurance, including other locations owned, leased or managed by Tenant), and (ii) to limit maximum insurance coverage for loss or damage by named windstorms per
occurrence to a minimum amount of the projected ground up loss (including storm surge) with a 500-year return period (as determined annually by an independent firm using RMS catastrophe software or equivalent,
and taking into account all locations insured under this property insurance, including other locations owned, leased or managed by Tenant); (iii) to limit maximum insurance coverage for loss or damage by flood to a minimum amount of Two Hundred
Fifty Million and No/100 Dollars ($250,000,000.00), to the extent commercially available; provided, further, that in the event the premium cost of any earthquake, flood, named windstorm or terrorism peril (as required by Section 13.1(b))
coverages are available only for a premium that is more than two and one-half (2.5) times the premium paid by Tenant for the third (3rd) year preceding the date of determination for the insurance policy
contemplated by this Section 13.1(a), then Tenant shall be entitled and required to purchase the maximum amount of insurance coverage it reasonably deems most efficient and prudent to purchase for such peril and Tenant shall not be required
to spend additional funds to purchase additional coverages insuring against such risks; and provided, further, that certain property coverages other than earthquake, flood and named windstorm may be
sub-limited as long as each sub-limit is commercially reasonable and prudent as determined by Tenant and to the extent that the amount of such sub-limit is less than the amount of such sub-limit in effect as of the Commencement Date, such sub-limit is approved by Landlord, such
approval not to be unreasonably withheld. 
 (ii) Such property insurance policy shall include, subject to Section
13.1(a)(i) above: (i) agreed amount coverage and/or a waiver of any co-insurance; (ii) building ordinance coverage (ordinance or law) including loss of the undamaged portions, the cost of
demolishing undamaged portions, and the increased cost of rebuilding; and also including, but not limited to, any non-conforming structures or uses; (iii) equipment breakdown coverage (boiler and
machinery coverage); (iv) debris removal; and (v) business interruption coverage in an amount not less than two (2) years of Rent and containing an Extended Period of Indemnity endorsement for an additional minimum six months period.
Subject to Section 13.1(a)(i), the property policy shall cover: wind/windstorm, earthquake/earth movement and flood and any sub-limits applicable to wind (e.g. named storms), earthquake and flood are
subject to the approval of Landlord and Fee Mortgagee. Such policy shall (i) name Landlord as an additional insured and “loss payee” for its interests in the Leased Property and Rent; (ii) name each Fee Mortgagee and Permitted
Leasehold Mortgagee as an additional insured, and (iii) include a New York standard mortgagee clause in favor of each Fee Mortgagee and Permitted Leasehold Mortgagee. Except as otherwise set forth herein, any property insurance loss adjustment
settlement associated with the Leased Property shall require the written consent of Landlord, Tenant, and each Fee Mortgagee (to the extent required under the applicable Fee Mortgage Documents) unless the amount of the loss net of the applicable
deductible is less than One Hundred Million and No/100 Dollars ($100,000,000.00) in which event no consent shall be required. 

  
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 (b) Property Terrorism Insurance. Property Insurance shall be maintained for acts of
terrorism covered by the Terrorism Risk Insurance Program Authorization Act of 2015 (TRIPRA) and acts of terrorism and sabotage not certified by TRIPRA, with limits no less than One Billion Five Hundred Million and No/100 Dollars ($1,500,000,000.00)
per occurrence for acts of terrorism covered by the Terrorism Risk Insurance Program Authorization Act of 2015 (TRIPRA) and Two Hundred Twenty-Five Million and No/100 Dollars ($225,000,000.00) for acts of terrorism and sabotage not certified by
TRIPRA. Both coverages shall apply to property damage and business interruption. The provisions relating to loss payees, additional insureds and mortgagee clauses set forth in Section 13.1(a) above shall also apply to the coverages required
by this Section 13.1(b). If Tenant uses one or more of its captive insurers to provide this insurance coverage, the captive(s) must secure and maintain reinsurance from one or more reinsurers for those amounts which are not insured by the
Federal Government, and which are in excess of a commercially reasonable policy deductible. Such reinsurers are subject to the same minimum financial ratings set forth in Section 13.1. In the event TRIPRA is not extended or
renewed, Landlord and Tenant shall mutually agree (in accordance with the procedures set forth in Section 13.6) upon replacement insurance requirements applicable to terrorism related risks. 

(c) Flood Insurance. With respect to any portion of the Leased Property that is security under a Fee Mortgage, if at any time the area
in which such Leased Property is located is designated a “Special Flood Hazard Area” as designated by the Federal Emergency Management Agency (or any successor agency), Tenant shall obtain separate flood insurance through the National
Flood Insurance Program. Such flood insurance may be provided as part of Section 13.1(a) Property Insurance above. 
 (d) Workers
Compensation and Employers Liability Insurance. Workers compensation insurance as required by applicable state statutes and Employers Liability. This insurance shall include endorsements applicable to (i) Longshore and Harbor Workers
Compensation Act; and (ii) Maritime Coverage (including transportation, wages, maintenance and cure, if not otherwise covered by Section 13.1(g) Marine Liability Insurance). 

(e) Commercial General Liability Insurance. For bodily injury, personal injury, advertising injury and property damage on an occurrence
form with coverage no less than ISO Form CG 0001 or equivalent. This policy shall include the following coverages: (i) Liquor Liability; (ii) Named Peril/Time Element Pollution, to the extent commercially available to operators of
properties similar to the subject Leased Property; (iii) Watercraft Liability, to the extent commercially available to operators of properties similar to the subject Leased Property; (iv) Terrorism Liability; and (v) a Separation of
Insureds Clause. 
 (f) Business Auto Liability Insurance. For bodily injury and property damage arising from the ownership,
maintenance or use of owned, hired and non-owned vehicles (ISO Form CA 00 01 or equivalent). 
 (g)
Marine Liability Insurance. For bodily injury and property damage (Protection and Indemnity) on an occurrence form. If not covered by the other insurance policies required by this Article XIII, this policy shall include the following
coverages: (i) Liquor Liability; (ii) Pollution Liability; and (iii) injuries to captains and crew. To the extent commercially available at a reasonable price, this policy shall contain a Separation of Insureds clause. This coverage
may be met through the combination of primary marine liability and excess liability coverage 

  
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 (h) Excess Liability Insurance. Excess Liability coverage shall be maintained over the
required Employers Liability, Commercial General Liability, Business Auto Liability and Marine Liability policies in an amount not less than Three Hundred Fifty Million and No/100 Dollars ($350,000,000.00) per occurrence and in the aggregate
annually (where applicable). The annual aggregate limit applicable to Commercial General Liability shall apply per location. Tenant will use commercially reasonable efforts to obtain coverage as broad as the underlying insurance, including Terrorism
Liability coverage, so long as such coverage is available at a commercially reasonable price. 
 (i) Pollution Liability Insurance.
For claims arising from the discharge, dispersal release or escape or any irritant or contaminant into or upon land, any structure, the atmosphere, watercourse or body of water, including groundwater. This shall include on and off-site clean up and emergency response costs and claims arising from above ground and below ground storage tanks. If this policy is provided on a “claims made” basis (i) the retroactive date shall
remain as June 26, 1998 for legal liability; and (ii) coverage shall be maintained for two (2) years after the Term. 

13.2 Name of Insureds. Except for the insurance required pursuant to Section 13.1(d), all insurance
provided by Tenant as required by this Article XIII shall include Landlord (including specified Landlord related entities as directed by Landlord) as a loss payee (solely with respect to the insurance required pursuant to Section 13.1(a),
Section 13.1(b) and Section 13.1(c)), named insured or additional insured without restrictions beyond the restrictions that apply to Tenant and may include any Permitted Leasehold Mortgagee as an additional insured; provided, however,
the insurance required pursuant to Section 13.1(i) and Section 13.1(g) shall be permitted to include Landlord (including specified Landlord related entities as directed by Landlord) as an additional insured without the requirement that
such policy expressly include language that such coverage is without restrictions beyond the restrictions that apply to Tenant. The coverage provided to the additional insureds by Tenant’s insurance policies must be at least as broad as that
provided to the first named insured on each respective policy. For avoidance of doubt, Landlord looks exclusively to Tenant’s insurance policies to protect itself from claims arising from the Leased Property and Capital Improvements. The
required insurance policies shall protect Landlord against Landlord’s acts with respect to the Leased Property in the same manner that they protect Tenant against its acts with respect to the Leased Property. Except for the insurance required
pursuant to Section 13.1(d) with respect to Workers Compensation and Employers Liability, the required insurance policies shall be endorsed to include others as additional insureds as required by Landlord and/or the Fee Mortgage Documents
and/or Permitted Leasehold Mortgagee. The insurance protection afforded to all insureds (whether named insureds or additional insureds) shall be primary and shall not contribute with any insurance or self-insurance programs maintained by such
insureds (including deductibles and self-insured retentions). 
 13.3 Deductibles or Self-Insured
Retentions. Tenant may self-insure such risks that are customarily self-insured by companies of established reputation engaged in the same general line of business in the same general area. All increases in deductibles and
self-insured retentions 

  
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(collectively referred to as “Deductibles” in this Article XIII) that apply to the insurance policies required by this Article XIII are subject to approval by Landlord,
with such approval not to be unreasonable withheld, conditioned or delayed. Tenant is solely responsible for all Deductibles related to its insurance policies. The Deductibles Tenant has in effect as of the Commencement Date satisfy the requirements
of this Section as of the Commencement Date. 
 13.4 Waivers of Subrogation. Landlord shall not be liable for any loss
or damage insured by the insurance policies required to be maintained under this Article XIII and policies issued by Tenant’s captive insurers (including related Deductibles), it being understood that (i) Tenant shall look solely to
its insurance for the recovery of such loss or damage; and (ii) such insurers shall have no rights of subrogation against Landlord. Each insurance policy shall contain a clause or endorsement which waives all rights of subrogation against
Landlord, Fee Mortgagees and other entities or individuals as reasonably requested by Landlord. 
 13.5 Limits of Liability and
Blanket Policies. The insured limits of liability maintained by Tenant shall be selected by Tenant in a manner consistent with the commercially reasonable practices of similarly situated tenants engaged in the same or similar businesses
operating in the same or similar locations as the applicable Leased Property. The limits of liability Tenant has in effect as of the Commencement Date satisfy the requirements of this Section as of the Commencement Date. The insurance required by
this Article XIII may be effected by a policy or policies of blanket insurance and/or by a combination of primary and excess insurance policies (all of which may insure additional properties owned, operated or managed by Tenant or its
Affiliates), provided each policy shall be satisfactory to Landlord, acting reasonably, including, the form of the policy, provided such policies comply with the provisions of this Article XIII. 

13.6 Future Changes in Insurance Requirements. 

(a) In the event one or more additional locations become Leased Property or Capital Improvements during the Term, whether through acquisition,
lease, new construction or other means, Landlord may reasonably amend the insurance requirements set forth in this Article XIII to properly address new risks or exposures to loss, in accordance with the procedures set forth in this Section
13.6(a). For example, for construction projects, different forms of insurance may be required, such as builders risk, and Landlord and Tenant shall mutually agree upon insurance requirements applicable to the construction contractors. Tenant and
Landlord shall work together in good faith to exchange information (including proposed construction agreements) and ascertain appropriate insurance requirements prior to Tenant being required to amend its insurance under this Section 13.6(a);
provided, however, that any revision to insurance shall only be required if the revised insurance would be customarily maintained by similarly situated tenants engaged in the same or similar businesses operating in the same or similar
locations as the applicable Leased Property. If Tenant and Landlord are unable to reach a resolution within thirty (30) days of the original notice of requested revision, the arbitration provisions set forth in
Section 34.2 shall control. 
 (b) In the event that (1) the operations of Tenant change in the future, and
Tenant believes adjustments in Deductibles, insured limits or coverages are warranted, (2) Tenant desires to increase one or more Deductibles, reduce limits of liability below those in 

  
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place as of the Commencement Date or materially reduce coverage, or (3) not more than once during any twelve (12) month period (or more frequently in connection with the requirements of
a Fee Mortgage), Landlord reasonably determines that the insurance carried by Tenant is not, for any reason (whether by reason of the type, coverage, deductibles, insured limits, the reasonable requirements of Fee Mortgagees, or otherwise)
commensurate with insurance customarily maintained by similarly situated tenants engaged in the same or similar businesses operating in the same or similar locations, the party seeking the change will advise the other party in writing of the
requested insurance revision. Tenant and Landlord shall work together in good faith to determine whether the requested insurance revision shall be made; provided, however, that any revision to insurance shall only be made if the
revised insurance would be customarily maintained by similarly situated tenants engaged in the same or similar businesses operating in the same or similar locations as the applicable Leased Property. If Tenant and Landlord are unable to reach a
resolution within thirty (30) days of the original notice of requested revision, the arbitration provisions set forth in Section 34.2 shall control. Solely with respect to the insurance required by Section
13.1(h) above, in no event shall the outcome of an insurance revision pursuant to this Section 13.6 require Tenant to carry insurance in an amount which exceeds the product of (i) the amounts set forth in
Section 13.1(h) hereof and (ii) the CPI Increase. 
 13.7 Notice of Cancellation or Non-Renewal. Each required
insurance policy shall contain an endorsement requiring thirty (30) days prior written notice to Landlord, Fee Mortgagees and Leasehold Mortgagees of any cancellation or non-renewal. Ten
(10) days’ prior written notice shall be required for cancellation for non-payment of premium. Tenant shall secure replacement coverage to comply with the stated insurance requirements and provide
new certificates of insurance to Landlord and others as directed by Landlord. 
 13.8 Copies of Documents. Tenant shall
provide (i) binders evidencing renewal coverages no later than the applicable renewal date of each insurance policy required by this Article XIII; and (ii) copies of all insurance policies required by this Article XIII
(including policies issued by Tenant’s captive insurers which are in any way related to the required policies, including policies insuring Deductibles), within one hundred and twenty days (120) after inception date of each, and if
additionally required, within ten (10) days of written request by Landlord. In addition, Tenant will supply documents that are related to the required insurance policies on January 1 of each calendar year during the Term and three
(3) years afterwards, and as otherwise requested in writing by Landlord. Such documents shall be in formats reasonably acceptable to Landlord and include, but are not limited to, (i) statements of property value by location, (ii) risk
modeling reports (e.g., named storms and earthquake), (iii) actuarial reports, (iv) loss/claims reports, (v) detailed summaries of Tenant’s insurance policies and, as respects Tenant’s captive insurers the most recent audited
financial statements (including notes therein) and reinsurance agreements. Landlord shall hold the contents of the documents provided by Tenant as confidential; provided that Landlord shall be entitled to disclose the contents of such documents to
its insurance consultants, attorneys, accountants and other agents in connection with the administration and/or enforcement of this Lease, and (ii) to any Fee Mortgagees, Permitted Leasehold Mortgagees and potential lenders and their respective
representatives, and (iii) as may be required by applicable laws. Landlord shall utilize commercially reasonable efforts to cause each such person or entity to enter into a written agreement to maintain the confidentiality thereof for the
benefit of Landlord and Tenant. 

  
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 13.9 Certificates of Insurance. Certificates of insurance, evidencing the
required insurance, shall be delivered to Landlord on the Commencement Date, annually thereafter, and upon written request by Landlord. If required by any Fee Mortgagee, Tenant shall provide endorsements and written confirmations that all premiums
have been paid in full. 
 13.10 Other Requirements. Tenant shall comply with the following additional provisions: 

(a) Prior to the date of the refinancing of (a) that certain Indenture, dated April 17, 2014, among Caesars Growth Properties
Holdings, LLC, Caesars Growth Properties Finance, Inc., the subsidiary guarantors party thereto, and U.S. Bank National Association, as trustee, (b) that certain First Lien Credit Agreement, dated May 8, 2014, among Caesars Growth
Properties Parent, LLC, Caesars Growth Properties Holdings, LLC, the lenders party thereto and Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent, (c) that certain First Lien Credit Agreement, dated
October 11, 2013, among Caesars Entertainment Resort Properties, LLC, Caesars Entertainment Resort Properties Finance, Inc., Harrah’s Las Vegas, LLC, Harrah’s Atlantic City Holding, Inc., Rio Properties, LLC, Flamingo Las Vegas
Holding, LLC, Harrah’s Laughlin, LLC, Paris Las Vegas Holding, LLC, the lenders party thereto and Citicorp North America, Inc. as administrative agent and collateral agent, (d) that certain Indenture, dated October 11, 2013, among
Caesars Entertainment Resort Properties, LLC, Caesars Entertainment Resort Properties Finance, Inc., Harrah’s Atlantic City Holding, Inc., Harrah’s Las Vegas, LLC, Harrah’s Laughlin, LLC, Flamingo Las Vegas Holding, LLC, Paris Las
Vegas Holding, LLC, Rio Properties, LLC, the subsidiary guarantors party thereto, and U.S. Bank National Association, as trustee, and (e) that certain Indenture, dated October 11, 2013, among Caesars Entertainment Resort Properties, LLC,
Caesars Entertainment Resort Properties Finance, Inc., Harrah’s Atlantic City Holdings, Inc., Harrah’s Las Vegas, LLC, Harrah’s Laughlin, LLC, Flamingo Las Vegas Holding, LLC, Paris Las Vegas Holding, LLC, Rio Properties, LLC, the
subsidiary guarantors party thereto, and U.S. Bank National Association (collectively, the “Refinancing”), in the event of a catastrophic loss or multiple losses at multiple properties owned or leased directly or indirectly by CEC
and that are insured by CEC, then in the case that (1) such catastrophic loss or multiple losses exhaust any per occurrence or aggregate insurance limits under the property or terrorism insurance policies required by this Article XIII,
(2) at least one such property affected by the catastrophic loss(es) is a Facility hereunder or under an Other Lease (in either case, a “Subject Facility”) and (3) at least one other such property affected by the
catastrophic loss(es) is not a Subject Facility, then the property and terrorism insurance proceeds received in connection with such catastrophic loss(es) shall be allocated amongst the affected properties
pro-rata based on the insured values of the impacted properties, with no property receiving an allocation exceeding the loss suffered by such property. 

(b) From and after the date of the Refinancing, in the event of a catastrophic loss or multiple losses at multiple properties owned or leased
directly or indirectly by CEC and that are insured by CEC, then in the case that at least one such property is a Subject Facility and at least one other such property is not a Subject Facility, if (A) such catastrophic loss or multiple losses
exhaust any per occurrence or aggregate insurance limits under the property or terrorism insurance policies required by this Article XIII and any such property that is not a Subject Facility is (w) directly or indirectly managed but not
directly or indirectly owned by CEC, (x) not wholly owned, directly or indirectly, by CEC, (y) subject to a ground lease with a landlord 

  
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party that is neither Landlord nor its affiliates, or (z) is financed on a stand-alone basis, then the insurance proceeds received in connection with such catastrophic loss or multiple
losses shall be allocated pro-rata based on the insured values of the impacted properties, with no property receiving an allocation exceeding the loss suffered by such property, and (B) if such
catastrophic loss or multiple losses exhaust any per occurrence or aggregate insurance limits under the property or terrorism insurance policies required by this Article XIII and no property that is not a Subject Facility is a property
described in clauses (w) through (z) above, the property(ies) that is a Subject Facility shall have first priority to insurance proceeds from the property policy or terrorism policy in connection with such catastrophic loss or multiple losses
up to the reasonably anticipated amount of loss with respect to the Subject Facility. Any property or terrorism insurance proceeds allocable to a Subject Facility pursuant to clause (B) above shall be paid to Landlord (or the landlord under the
Other Lease, as applicable) and applied in accordance with the terms of this Lease (or the Other Lease, as applicable). 
 (c) In the event
Tenant shall at any time fail, neglect or refuse to insure the Leased Property (including barges and vessels used for gaming) and Capital Improvements, or is not in full compliance with its obligations under this Article XIII, Landlord may,
at its election, procure replacement insurance. In such event, Landlord shall disclose to Tenant the terms of the replacement insurance. Tenant shall reimburse Landlord for the cost of such replacement insurance within thirty (30) days after
Landlord pays for the replacement insurance. The cost of such replacement insurance shall be reasonable considering the then-current market. 

ARTICLE XIV 
 CASUALTY

 14.1 Property Insurance Proceeds. All proceeds (except business interruption not allocated to rent expenses, if any)
payable by reason of any property loss or damage to the Leased Property, or any portion thereof, under any property policy of insurance required to be carried hereunder shall be paid to Fee Mortgagee or to an escrow account held by a third party
depositary reasonably acceptable to Landlord, Tenant and, if applicable, the Fee Mortgagee (in each case pursuant to an escrow agreement reasonably acceptable to the Parties and the Fee Mortgagee and intended to implement the terms hereof, and made
available to Tenant upon request for the reasonable costs of preservation, stabilization, restoration, reconstruction and repair, as the case may be, of any damage to or destruction of the Leased Property, or any portion thereof; provided, however,
that the portion of any such proceeds that are attributable to Tenant’s obligation to pay Rent shall be applied against Rent due by Tenant hereunder; and provided, further, that if the total amount of proceeds payable net of the applicable
deductibles is Twenty Million and No/100 Dollars ($20,000,000.00) or less per Facility, and, if no Tenant Event of Default has occurred and is continuing, the proceeds shall be paid to Tenant and, subject to the limitations set forth in this
Article XIV used for the repair of any damage to or restoration or reconstruction of the Leased Property in accordance with Section 14.2. For the avoidance of doubt, any insurance proceeds payable by reason of
(i) loss or damage to Tenant’s Property and/or Tenant Material Capital Improvements, or (ii) business interruption shall be paid directly to and belong to Tenant. Any excess proceeds of insurance remaining after the completion of the
restoration or reconstruction of the Leased Property in accordance herewith shall be provided to Tenant. So long as no Tenant Event of Default is continuing, Tenant shall have the right to 

  
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prosecute and settle insurance claims, provided that, in connection with insurance claims exceeding Twenty Million and No/100 Dollars ($20,000,000.00) per Facility, Tenant shall consult with and
involve Landlord in the process of adjusting any insurance claims under this Article XIV and any final settlement with the insurance company for claims exceeding Twenty Million and No/100 Dollars ($20,000,000.00) per Facility shall be subject
to Landlord’s consent, such consent not to be unreasonably withheld, conditioned or delayed. 
 14.2
Tenant’s Obligations Following Casualty. 
 (a) In the event of a Casualty Event with respect
to the Leased Property or any portion thereof (to the extent the proceeds of insurance in respect thereof are made available to Tenant as and to the extent required under the applicable escrow agreement), (i) Tenant shall restore such Leased
Property (or any applicable portion thereof, excluding, at Tenant’s election, any Tenant Material Capital Improvement, unless such Tenant Material Capital Improvement is integrated into the Facility such that the Facility could not practically
or safely be operated without restoring such Tenant Material Capital Improvement, provided that with respect to any Tenant Material Capital Improvement that is not rebuilt, Tenant shall repair and thereafter maintain the portions of the Leased
Property affected by the loss or damage of such Tenant Material Capital Improvement in a condition commensurate with the quality, appearance and use of the balance of the Facility and satisfying the Facility’s parking requirements) to
substantially the same condition as existed immediately before such damage or otherwise in a manner reasonably satisfactory to Landlord (except, however, with respect to the Facility known as Caesars Atlantic City, Tenant shall be required to
restore such Facility (or applicable portion thereof) only to the extent necessary to generate at least the amount of EBITDA from such Facility following such restoration as was generated from such Facility prior to such Casualty Event), and
(ii) the damage caused by the applicable Casualty Event shall not terminate this Lease; provided, however, that if the applicable Casualty Event shall occur not more than two (2) years prior to the then-Stated Expiration Date
and the cost to restore the Leased Property (excluding for avoidance of doubt any affected Tenant Material Capital Improvements that Tenant is not required to restore) to the condition immediately preceding the Casualty Event, as determined by a
mutually approved contractor or architect, would equal or exceed twenty-five percent (25%) of the Fair Market Ownership Value of such Facility immediately prior to the time of such damage or destruction, then each of Landlord and Tenant shall have
the option, exercisable in such Party’s sole and absolute discretion, to terminate this Lease solely with respect to the applicable Facility, upon written notice to the other Party hereto delivered to such other Party within thirty (30)
days of the determination of the amount of damage and the Fair Market Ownership Value of the applicable Facility and, if such option is exercised by either Landlord or Tenant, this Lease shall terminate solely with respect to the applicable Facility
(and, commencing upon the date of such termination, Rent hereunder shall be reduced by the Rent Reduction Amount), Tenant shall not be required to restore the applicable Facility and any insurance proceeds payable as a result of the damage or
destruction shall be payable in accordance with Section 14.2(c). Notwithstanding anything to the contrary contained herein, if a Casualty Event occurs (and/or if the determination of the amount of damage and/or the thirty (30) day period
referred to in the preceding sentence is continuing) at a time when Tenant could send a Renewal Notice (provided, for this purpose, Tenant shall be permitted to send a Renewal Notice under Section 1.4 not more than
twenty-four (24) months (rather than not more than eighteen (18) months) prior to the then current Stated Expiration Date), if Tenant has elected or elects to exercise the same at any time following Tenant’s receipt of such notice of
termination from Landlord, neither Landlord nor Tenant may terminate this Lease under this Section 14.2(a). 

  
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 (b) If the cost to restore the Leased Property exceeds the amount of proceeds received from the
insurance required to be carried hereunder, (subject to Section 14.2(e)) Tenant’s restoration obligations hereunder shall continue unimpaired, and Tenant shall provide Landlord with evidence reasonably acceptable to Landlord that Tenant
has (or is reasonably expected to have) available to it any excess amounts needed to restore the Leased Property to the condition required hereunder. Such excess amounts shall be paid by Tenant. 

(c) In the event neither Landlord nor Tenant is required or elects to repair and restore the Leased Property, all insurance proceeds (except
business interruption), other than proceeds reasonably attributed to any Tenant Material Capital Improvements (or other property owned by Tenant), which proceeds shall be and remain the property of Tenant, shall be paid to and retained by Landlord
(after reimbursement to Tenant for any reasonably-incurred expenses in connection with the subject Casualty Event) free and clear of any claim by or through Tenant except as otherwise specifically provided below in this Article XIV. 

(d) If Tenant fails to complete the restoration of the Facility and gaming operations do not recommence substantially in the same manner as
prior to the applicable Casualty Event by the date that is the fourth (4th) anniversary of the date of any Casualty Event (subject to extension in the event of an Unavoidable Delay during such four (4) year period, on a day-for-day basis, for the same amount of time that such Unavoidable Delay affects Tenant’s ability to perform such restoration in accordance with this
Section 14.2), then, without limiting any of Landlord’s rights and remedies otherwise, all remaining insurance proceeds shall be paid to and retained by Landlord free and clear of any claim by or through Tenant,
provided, that, so long as no Tenant Event of Default has occurred and is continuing, Landlord agrees to use such remaining proceeds for repair and restoration with respect to such Casualty Event. 

(e) If, and solely to the extent that, the damage resulting from any applicable Casualty Event is not an insured event under the insurance
policies required to be maintained by Tenant under this Lease, then Tenant shall not be obligated to restore the Leased Property in respect of the damage from such Casualty Event. 

14.3 No Abatement of Rent. Except as expressly provided in this Article XIV, this Lease shall
remain in full force and effect and Tenant’s obligation to pay Rent and all Additional Charges required by this Lease shall remain unabated during any period following a Casualty Event. 

14.4 Waiver. Tenant waives any statutory rights of termination which may arise by reason of any
damage or destruction of the Leased Property but such waiver shall not affect any contractual rights granted to Tenant under this Lease. 

14.5 Insurance Proceeds and Fee Mortgagee. Notwithstanding anything herein (including, without
limitation, Article XXXI hereof) or in any Fee Mortgage Documents to the contrary, Landlord shall require that any Fee Mortgagee Documents (including, without limitation, with respect to the Existing Fee Mortgage) shall permit Tenant to
rebuild in 

  
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accordance with the terms and provisions of this Lease (and any such Fee Mortgage Documents shall expressly provide that Tenant or Landlord, as applicable, is entitled to the applicable insurance
proceeds in accordance with the terms and provisions of this Lease). 
 ARTICLE XV 

EMINENT DOMAIN 

15.1 Condemnation. Tenant shall promptly give Landlord written notice of the actual or threatened
Condemnation or any Condemnation proceeding affecting the Leased Property of which Tenant has knowledge and shall deliver to Landlord copies of any and all papers served in connection with the same. 

(a) Total Taking. If a Facility is subject to a total and permanent Taking, this Lease shall automatically terminate with respect to
such Facility as of the day before the date of such Taking or Condemnation. In such event, commencing upon the date of such termination, Rent hereunder shall be reduced by the Rent Reduction Amount. 

(b) Partial Taking. If a portion (but not all) of a Facility (and, without limitation, any Capital Improvements with respect thereto)
is subject to a permanent Taking (“Partial Taking”), this Lease shall remain in effect so long as the applicable Facility is not thereby rendered Unsuitable for its Primary Intended Use, and Rent shall be adjusted in accordance with
the Rent Reduction Amount with respect to the subject portion of the applicable Facility; provided, however, that if the remaining portion of the applicable Facility is rendered Unsuitable for Its Primary Intended Use, this Lease shall
terminate with respect to such Facility as of the day before the date of such Taking or Condemnation and, in such event, commencing upon the date of such termination, Rent hereunder shall be reduced by the Rent Reduction Amount with respect to the
entirety of the subject Facility. 
 (c) Restoration. If there is a Partial Taking and this Lease remains in full force and effect,
Landlord shall make available to Tenant the Award to be applied first to the restoration of the affected Facility in accordance with this Lease and, to the extent required hereby, any affected Tenant Material Capital Improvements, and thereafter as
provided in Section 15.2. In such event, subject to receiving such Award, Tenant shall accomplish all necessary restoration in accordance with the following sentence (whether or not the amount of the Award received by
Tenant is sufficient) and the Rent shall be adjusted in accordance with the Rent Reduction Amount. Tenant shall restore the Leased Property (excluding any Tenant Material Capital Improvement, unless such Tenant Material Capital Improvement is
integrated into the subject Facility such that such Facility could not practically or safely be operated without restoring such Tenant Material Capital Improvement) as nearly as reasonably possible under the circumstances to a complete architectural
unit of the same general character and condition as the Leased Property existing immediately prior to such Taking; except, however, with respect to the Facility known as Caesars Atlantic City, Tenant shall be required to restore such Facility (or
applicable portion thereof) only to the extent necessary to generate at least the amount of EBITDA from such Facility following such restoration as was generated from such Facility prior to such Casualty Event. 

  
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 15.2 Award Distribution. Except as set forth below and
in Section 15.1(c) hereof, the Award resulting from the Taking shall be paid as follows: (i) first, to Landlord to the extent of the Fair Market Ownership Value of Landlord’s interest in the Leased Property subject to the Taking
(excluding any Tenant Material Capital Improvements), (ii) second, to Tenant to the extent of the Fair Market Property Value of Tenant’s Property and any Tenant Material Capital Improvements subject to the Taking (but for avoidance of
doubt, not including any amount for any unexpired portion of the Term), and (iii) third, any remaining balance shall be paid to Landlord. Notwithstanding the foregoing, Tenant shall be entitled to pursue its own claim with respect to the Taking
for Tenant’s lost profits value and moving expenses and, the portion of the Award, if any, allocated to any Tenant Material Capital Improvements and Tenant’s Property, shall be and remain the property of Tenant free of any claim thereto by
Landlord. 
 15.3 Temporary Taking. The taking of the Leased Property, or any part thereof, shall
constitute a Taking by Condemnation only when the use and occupancy by the taking authority has continued for longer than one hundred eighty (180) consecutive days. During any shorter period, which shall be a temporary taking, all the
provisions of this Lease shall remain in full force and effect and the Award allocable to the Term shall be paid to Tenant. 
 15.4
Condemnation Awards and Fee Mortgagee. Notwithstanding anything herein (including, without limitation, Article XXXI hereof) or in any Fee Mortgage Documents to the contrary, Landlord shall require that any
Fee Mortgagee Documents (including, without limitation, with respect to the Existing Fee Mortgage) shall permit Tenant to rebuild in accordance with the terms and provisions of this Lease (and any such Fee Mortgage Documents shall expressly provide
that Tenant or Landlord, as applicable, is entitled to the applicable Award in accordance with the terms and provisions of this Lease). 

ARTICLE XVI 

DEFAULTS & REMEDIES 

16.1 Tenant Events of Default. Any one or more of the following shall constitute a “Tenant Event of
Default”: 
 (a) Tenant shall fail to pay any installment of Rent when due and such failure is not cured within ten (10) days
after written notice from Landlord of Tenant’s failure to pay such installment of Rent when due (and such notice of failure from Landlord may be given any time after such installment of Rent is more than one (1) day late); 

(b) Tenant shall fail to pay any Additional Charge (excluding, for the avoidance of doubt the Minimum Cap Ex Amount) within ten (10) days
after written notice from Landlord of Tenant’s failure to pay such Additional Charge when due (and such notice of failure from Landlord may be given any time after such payment of any Additional Charge is more than one (1) day late); 

  
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 (c) Tenant or, unless the Guarantor EOD Conditions exist, Guarantor shall: 

(i) file a petition in bankruptcy or a petition to take advantage of any insolvency law or statute under Federal law,
specifically including Title 11, United States Code, §§ 101-1532, or analogous state law; 

(ii) make an assignment for the benefit of its creditors; or 

(iii) consent to the appointment of a receiver of itself or of the whole or substantially all of its property; 

(d) (i) Tenant shall be adjudicated as bankrupt or a court of competent jurisdiction shall enter an order or decree appointing, without the
consent of Tenant, a receiver of Tenant or of all or substantially all of Tenant’s property, or approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under Federal law, specifically including Title 11, United
States Code, §§ 101-1532, or analogous state law, and such judgment, order or decree shall not be vacated or set aside or stayed within sixty (60) days from the date of the entry thereof;

 (ii) Unless the Guarantor EOD Conditions exist, Guarantor shall be adjudicated as bankrupt or a court of competent
jurisdiction shall enter an order or decree appointing, without the consent of Guarantor, a receiver of Guarantor or of all or substantially all of Guarantor’s property, or approving a petition filed against Guarantor seeking reorganization or
arrangement of Guarantor under Federal law, specifically including Title 11, United States Code, §§ 101-1532, or analogous state law, and such judgment, order or decree shall not be vacated or set
aside or stayed within sixty (60) days from the date of the entry thereof; or 
 (e) entry of an order or decree liquidating or
dissolving Tenant, Manager or, unless the Guarantor EOD Conditions exist, Guarantor, provided that the same shall not constitute a Tenant Event of Default if (i) such order or decree shall be vacated, set aside or stayed within ninety
(90) days from the date of the entry thereof, or (ii) with respect to Manager only, (x) Manager is not an Affiliate of Tenant, or (y) another wholly-owned subsidiary of CEC assumes the MLSA and the other Lease/MLSA Related
Agreements to which Manager is a party; 
 (f) Tenant shall fail to cause the Facilities to be Operated (as defined in the MLSA) in a Non-Discriminatory (as defined in the MLSA) manner, in accordance with the Operating Standard (as defined in the MLSA) and subject to Manager’s Standard of Care (as defined in the MLSA) (in each case as and to
the extent required under the MLSA, including as provided in Section 2.1.1, Section 2.1.2, Section 2.1.3, Section 2.1.4, Section 2.3.1, and Section 2.3.2 of the MLSA, but subject to Section 5.9.1 of the MLSA),
which failure would reasonably be expected to have a material and adverse effect on Landlord (taken as a whole with “Landlord” as defined under the Joliet Lease) or on the Facilities (taken as a whole with the Joliet Facility), and which
failure is not cured within thirty (30) days following notice thereof from Landlord to Tenant; provided that, if: (i) such failure is not susceptible of cure within such thirty (30) day period; and (ii) such failure would
not expose Landlord to an imminent and material risk of criminal liability or of material damage to its business reputation, such thirty (30) day cure period shall be extended for such time as is necessary (but in no event longer than ninety
(90) 

  
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days) to cure such failure so long as Tenant commences to cure such failure or other breach within such thirty (30) day period and thereafter proceeds with reasonable diligence to complete
such cure); 
 (g) the estate or interest of Tenant in the Leased Property or any part thereof shall be levied upon or attached in any
proceeding relating to more than Twenty-Five Million and No/100 Dollars ($25,000,000.00), and the same shall not be vacated, discharged or stayed pending appeal (or paid or bonded or otherwise similarly secured payment) within the later of ninety
(90) days after commencement thereof or thirty (30) days after receipt by Tenant of notice thereof from Landlord; provided, however, that such notice shall be in lieu of and not in addition to any notice required under applicable
law; 
 (h) if Tenant or, unless the Guarantor EOD Conditions exist, Guarantor shall fail to pay, bond, escrow or otherwise similarly secure
payment of one or more final judgments aggregating in excess of the amount of Seventy-Five Million and No/100 Dollars ($75,000,000.00), which judgments are not discharged or effectively waived or stayed for a period of forty-five
(45) consecutive days; 
 (i) unless the Guarantor EOD Conditions exist, a Lease Guarantor Event of Default shall occur under the MLSA;

 (j) except as a result of a Permitted Operation Interruption, Tenant fails to cause the Continuous Operations Facilities to be
Continuously Operated during the Term; 
 (k) any applicable Gaming License or other license material to any Continuous Operation
Facility’s operation for its Primary Intended Use is at any time terminated or revoked or suspended or placed under a trusteeship (and in each case such termination, revocation, suspension or trusteeship causes cessation of Gaming activity at
the Continuous Operation Facility) for more than thirty (30) days and such termination, revocation, suspension or trusteeship is not stayed pending appeal and would reasonably be expected to have a material adverse effect on Tenant taken as a
whole with the “Tenant” as defined under the Joliet Lease, or on the Facilities taken as a whole with the Joliet Facility; 
 (l)
if a Licensing Event with respect to Tenant under clause (a) of the definition of Licensing Event shall occur and is not resolved in accordance with Section 41.13 within the later of (i) thirty (30) days or
(ii) such additional time period as may be permitted by the applicable Gaming Authorities; 
 (m) Tenant fails to comply with any
Additional Fee Mortgagee Requirements, which default is not cured within the applicable cure period set forth in the Fee Mortgage Documents, if the effect of such default is to cause, or to permit the holder or holders of the applicable Fee Mortgage
(or a trustee or agent on behalf of such holder or holders) to cause such Fee Mortgage to become or be declared due and payable (or redeemable) prior to its stated maturity); 

(n) a transfer of Tenant’s interest in this Lease (including pursuant to a Change in Control) shall have occurred without the consent of
Landlord to the extent such consent is required under Article XXII or Tenant is otherwise in default of the provisions set forth in Section 22.1 below; 

  
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 (o) if Tenant shall fail to observe or perform any other term, covenant or condition of this
Lease and such failure is not cured within thirty (30) days after written notice thereof from Landlord, provided, however, if such failure cannot reasonably be cured within such thirty (30) day period and Tenant shall have
commenced to cure such failure within such thirty (30) day period and thereafter diligently proceeds to cure the same, such thirty (30) day period shall be extended for such time as is reasonably necessary for Tenant in the exercise of due
diligence to cure such failure, provided that, with respect to any failure to perform (i) that is still continuing on or after the first day of the sixth (6th) Lease Year such cure period
shall not extend beyond the later of such first day of the sixth (6th) Lease Year or one-hundred and eighty (180) days in the aggregate, and (ii) that
is first arising on or after the first day of the sixth (6th) Lease Year, such cure period shall not exceed one-hundred and eighty (180) days in the aggregate, provided, further
however, that no Tenant Event of Default under this clause (o) or under clause (q) below shall be deemed to exist under this Lease during any time the curing thereof is prevented by an Unavoidable Delay, provided that upon
the cessation of the Unavoidable Delay, Tenant remedies the default within the time periods otherwise required hereunder; 
 (p) A
“Tenant Event of Default” (as defined in the applicable Other Lease) shall occur under any Other Lease. 
 (q) the occurrence of a
Tenant Event of Default pursuant to Section 10.5(a)(x); 
 (r) unless the Guarantor EOD Conditions exist, if Guarantor shall, in any
judicial or quasi-judicial case, action or proceeding, contest (or collude with or otherwise affirmatively assist any other Person, or solicit or cause to be solicited any other Person to contest) the validity or enforceability of Guarantor’s
obligations under the MLSA (or any Qualified Replacement Guarantor’s obligations under a Replacement Guaranty); and 
 (s) if Tenant
shall fail to comply with any of the provisions, terms or conditions of any Ground Lease in effect as of the Commencement Date (or any renewals thereof) with respect to any of the Continuous Operation Facilities as required under Section 7.3
hereof, which failure is not cured within the applicable time period set forth in the applicable Ground Lease and the effect of such failure is to permit the applicable Ground Lessor to terminate such Ground Lease or to result in the Ground Lease
being terminated pursuant to the terms thereof. 
 Notwithstanding anything contained herein to the contrary, (i) Landlord shall deliver all notices
required pursuant to Section 16.1 concurrently to Tenant and Guarantor and (ii) a default by Tenant under any Permitted Leasehold Mortgage shall not in and of itself be a Tenant Event of Default hereunder (it being
understood that if the circumstances that cause such default independently comprise a default hereunder that continues beyond all applicable notice and cure periods hereunder then such circumstances would cause a Tenant Default hereunder). 

  
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 Notwithstanding the foregoing, (i) Tenant shall not be in breach of this Lease solely as a result of the
exercise by the party (other than Tenant, CEC, CEOC or any of their respective Affiliates) to any of the Permitted Exception Documents of such party’s rights thereunder so long as Tenant undertakes commercially reasonable efforts to cause such
party to comply or otherwise minimize such breach, and (ii) in the event that Tenant is required, under the express terms of any Permitted Exception Document(s), to take or refrain from taking any action, and taking or refraining from taking
such action would result in a default under this Lease, then Tenant shall advise Landlord of the same, and Tenant and Landlord shall reasonably cooperate in order to address the same in a mutually acceptable manner, and so as to minimize any harm or
liability to Landlord and to Tenant. For the avoidance of doubt, in no event shall a Permitted Exception Document excuse Tenant from its obligation to pay Rent or Additional Charges 

16.2 Landlord Remedies. Upon the occurrence and during the continuance of a Tenant Event of Default but subject to
the provisions of Article XVII, Landlord may, subject to the terms of Section 16.3 below, do any one or more of the following: (x) terminate this Lease by giving Tenant no less than ten (10) days’
notice of such termination and the Term shall terminate and all rights and obligations of Tenant under this Lease shall cease, subject to any provisions that expressly survive the Expiration Date, (y) seek damages as provided in
Section 16.3 hereof or (z) except to the extent expressly otherwise provided under this Lease, exercise any other right or remedy hereunder, at law or in equity available to Landlord as a result of any Tenant Event of
Default. Tenant shall pay as Additional Charges all costs and expenses incurred by or on behalf of Landlord, including reasonable and documented attorneys’ fees and expenses, as a result of any Tenant Event of Default hereunder. Subject to
Article XIX and Section 17.1(f) hereof, at any time upon or following the Expiration Date, Tenant shall, if required by Landlord to do so, immediately surrender to Landlord possession of the Leased Property and quit
the same and Landlord may enter upon and repossess such Leased Property by reasonable force, summary proceedings, ejectment or otherwise, and may remove Tenant and all other Persons and any of Tenant’s Property therefrom. Landlord shall refrain
from exercising any remedies pursuant to this Section during any applicable cure periods of Guarantor to the extent expressly provided in Section 17.2 of the MLSA. 

(a) None of (i) the termination of this Lease, (ii) the repossession of the Leased Property, (iii) the failure of Landlord to
relet the Leased Property or any portions thereof, (iv) the reletting of all or any portion of the Leased Property, or (v) the inability of Landlord to collect or receive any rentals due upon any such reletting, shall relieve Tenant of its
liabilities and obligations hereunder, all of which shall survive any such termination, repossession or reletting. Landlord and Tenant agree that Landlord shall have no obligation to mitigate Landlord’s damages under this Lease. 

(b) If this Lease shall terminate pursuant to Section 16.2(x) or if Landlord shall obtain a court order permitting reentry following
the occurrence of a Tenant Event of Default that is continuing, then, in any such event, Landlord or Landlord’s agents and employees may immediately or at any time thereafter reenter the Leased Property to the extent permitted by law (including
applicable Gaming Regulations), either by summary dispossess proceedings or by any suitable action or proceeding at law, without being liable to indictment, prosecution or damages therefor, and may repossess the same, and may remove any Person
therefrom, to the end that Landlord may have, hold and enjoy the Leased Property. The words “enter,” “reenter,” “entry” and “reentry,” as used herein, are not restricted to their technical legal meanings. 

  
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 (c) Notwithstanding anything herein to the contrary, if this Lease has been terminated by
Landlord pursuant to this Section 16.2 and Manager is performing Transition Services (as defined in the Transition Services Agreement) as elected by Landlord in its sole discretion, then, at Landlord’s election in
accordance with the Transition Services Agreement, Tenant (and its Subsidiaries, as applicable) shall stay in occupancy of the Leased Property following the Expiration Date and continue to operate the Facilities, collect and retain revenue
therefrom, and pay Rent and Additional Charges (without duplication of any Rent and Additional Charges required to be paid under Section 16.3), all in the manner required under Section 36.1,
mutatis mutandis, for so long as Manager is performing Transition Services; provided, however, that Tenant shall have no obligation (unless specifically agreed to by Tenant) to operate the Leased Property (or pay any such Rent)
under such arrangement unless the Transition Period is then continuing. 
 16.3 Damages. 

(a) If Landlord elects to terminate this Lease in writing upon a Tenant Event of Default during the Term, Tenant shall forthwith (x) pay
to Landlord all Rent due and payable under this Lease to and including the date of such termination (together with interest thereon at the Overdue Rate from the date the applicable amount was due), and (y) pay on demand all damages to which
Landlord shall be entitled at law or in equity, provided, however, Landlord’s damages with regard to unpaid Rent from and after the date of termination shall equal, as liquidated and agreed current damages in respect thereof, the
sum of: (A) the worth at the time of award of the amount by which the unpaid Rent that (if the Lease had not been terminated) would have been payable hereunder after termination until the time of award exceeds the amount of such Rent loss that
Tenant proves could have been reasonably avoided; plus (B) (x) the Rent which (if the Lease had not been terminated) would have been payable hereunder from the time of award until the then Stated Expiration Date, discounted to present value by
applying a discount rate equal to the discount rate of the Federal Reserve Bank of New York at the time of award, plus one percent (1%), less (y) the Rent loss from the time of the award until the then Stated Expiration Date that Tenant proves
could be reasonably avoided, discounted to present value by applying a discount rate equal to the discount rate of the Federal Reserve Bank of New York at the time of award, plus one percent (1%). As used in clause (A), the “worth at the time
of award” shall be computed by allowing interest at the Overdue Rate from the date the applicable amount was due. As used in clauses (A) and (B), Variable Rent that would have been payable after termination for the remainder of the Term
shall be determined based on: (1) if the date of termination occurs during a Variable Rent Payment Period, the Variable Rent amount payable during such Variable Rent Payment Period (if the Lease had not been terminated), and (2) if the
date of termination occurs prior to the commencement of any Variable Rent Payment Period, the Variable Rent that (if the Lease had not been terminated) would be payable after termination for the remainder of the Term, assuming Net Revenue for the
balance of the Term equals Net Revenue for the Fiscal Period ending immediately prior to the date of termination (it being understood the foregoing calculation of damages for unpaid Rent applies only to the amount of unpaid Rent damages owed to
Landlord pursuant to Tenant’s obligation to pay Rent hereunder and does not prohibit or otherwise shall not limit Landlord from seeking damages for any indemnification or any other obligations of Tenant hereunder, with all such rights of
Landlord reserved). 

  
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 (b) Notwithstanding anything otherwise set forth herein, if Landlord chooses not to terminate
Tenant’s right to possession of the Leased Property (whether or not Landlord terminates this Lease) and has not been paid damages in accordance with Section 16.3(a), then each installment of Rent and all other sums payable by Tenant to
or for the benefit of Landlord under this Lease shall be payable as the same otherwise becomes due and payable, together with, if any such amount is not paid when due, interest at the Overdue Rate from the date when due until paid, and Landlord may
enforce, by action or otherwise, any other term or covenant of this Lease (and Landlord may at any time thereafter terminate Tenant’s right to possession of the Leased Property and seek damages under Section 16.3(a), to the extent not
already paid for by Tenant under Section 16.3(a) or this Section 16.3(b)). 
 (c) If, as of the date of any termination of
this Lease pursuant to Section 16.2(x), the Leased Property shall not be in the condition in which Tenant has agreed to surrender the same to Landlord at the expiration or earlier termination of this Lease, then Tenant, shall pay, as damages
therefor, the cost (as estimated by an independent contractor reasonably selected by Landlord) of placing the Leased Property in the condition in which Tenant is required to surrender the same hereunder. 

16.4 Receiver. Subject to the rights of Permitted Leasehold Mortgagees hereunder, upon the
occurrence and continuance of a Tenant Event of Default, and upon commencement of proceedings to enforce the rights of Landlord hereunder, but subject to any limitations of applicable law (including Gaming Regulations), Landlord shall be entitled,
as a matter of right, to the appointment of a receiver or receivers acceptable to Landlord of the Leased Property and of the revenues, earnings, income, products and profits thereof, pending the outcome of such proceedings, with such powers as the
court making such appointment shall confer. 
 16.5 Waiver. If Landlord initiates judicial
proceedings or if this Lease is terminated by Landlord pursuant to this Article XVI, Tenant waives, to the extent permitted by applicable law, (i) any right of redemption, re-entry or repossession
or similar laws for the benefit of Tenant; and (ii) the benefit of any laws now or hereafter in force exempting property from liability for rent or for debt. 

16.6 Application of Funds. Any payments received by Landlord under any of the provisions of this
Lease during the existence or continuance of any Tenant Event of Default which are made to Landlord rather than Tenant due to the existence of a Tenant Event of Default shall be applied to Tenant’s obligations in the order which Landlord may
reasonably determine or as may be prescribed by applicable Legal Requirements. 
 16.7
Landlord’s Right to Cure Tenant’s Default. If Tenant shall fail to make any payment or to perform any act required to be made or performed hereunder
when due including, without limitation, if Tenant fails to expend any Required Capital Expenditures as required hereunder or fails to complete any work or restoration or replacement of any nature as required hereunder, or if Tenant shall take any
action prohibited hereunder, or if Tenant shall breach any representation or warranty comprising Additional Fee Mortgagee Requirements (and Landlord 

  
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reasonably determines that such breach could be expected to give rise to an event of default or an indemnification obligation of Landlord under the applicable Fee Mortgage), or Tenant fails to
comply with any Additional Fee Mortgagee Requirements (other than representations and warranties), in all cases, after the expiration of any cure period provided for herein, Landlord, without waiving or releasing any obligation or default, may, but
shall be under no obligation to, (i) make such payment or perform such act for the account and at the expense of Tenant (including, in the event of a breach of any such representation or warranty, taking actions to cause such representation or
warranty to be true), and may, to the extent permitted by law, enter upon the Leased Property for such purpose and take all such action thereon as, in Landlord’s reasonable opinion, may be necessary or appropriate therefor, and,
(ii) subject to the terms of the applicable Fee Mortgagee Documents, use funds in any Fee Mortgage Reserve Account for the purposes for which they were deposited in making any such payment or performing such act. All sums so paid by Landlord
and all costs and expenses, including reasonable attorneys’ fees and expenses, so incurred, together with interest thereon at the Overdue Rate from the date on which such sums or expenses are paid or incurred by Landlord, shall be paid by
Tenant to Landlord on demand as an Additional Charge. 
 16.8 Miscellaneous. 

(a) Suit or suits for the recovery of damages, or for any other sums payable by Tenant to Landlord pursuant to this Lease, may be brought by
Landlord from time to time at Landlord’s election, and nothing herein contained shall be deemed to require Landlord to await the date whereon this Lease and the Term would have expired by limitation had there been no Tenant Event of Default,
reentry or termination. 
 (b) No failure by either Party to insist upon the strict performance of any agreement, term, covenant or
condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance by Landlord of full or partial Rent during the continuance of any such breach, shall constitute a waiver of any such breach or of such
agreement, term, covenant or condition. No agreement, term, covenant or condition of this Lease to be performed or complied with by either Party, and no breach thereof, shall be or be deemed to be waived, altered or modified except by a written
instrument executed by the Parties. No waiver of any breach shall affect or alter this Lease, but each and every agreement, term, covenant and condition of this Lease shall continue in full force and effect with respect to any other then existing or
subsequent breach thereof. In the event Landlord claims in good faith that Tenant has breached any of the agreements, terms, covenants or conditions contained in this Lease, Landlord shall be entitled to seek to enjoin such breach or threatened
breach and shall have the right to invoke any rights and remedies allowed at law or in equity or by statute or otherwise as though reentry, summary proceedings or other remedies were not provided for in this Lease. 

(c) Except to the extent otherwise expressly provided in this Lease, each right and remedy of a Party provided for in this Lease shall be
cumulative and shall be in addition to every other right or remedy provided for in this Lease. 
 (d) Nothing contained in this Article
XVI or otherwise shall vitiate or limit Tenant’s obligation to pay Landlord’s attorneys’ fees as and to the extent provided in Article XXXVII hereof, or any indemnification obligations under any express indemnity made by
Tenant of Landlord or of any Landlord Indemnified Parties as contained in this Lease. 

  
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 ARTICLE XVII 

TENANT FINANCING 
 17.1
Permitted Leasehold Mortgagees. 
 (a) Tenant May Mortgage the Leasehold Estate. On one or more occasions,
without Landlord’s consent, Tenant may mortgage or otherwise encumber Tenant’s estate in and to the Leased Property (the “Leasehold Estate”) (or encumber the direct or indirect Equity Interests in Tenant) to one or more
Permitted Leasehold Mortgagees under one or more Permitted Leasehold Mortgages and pledge its right, title and interest under this Lease as security for such Permitted Leasehold Mortgages or any related agreement secured thereby, provided,
however, that, (i) in order for a Permitted Leasehold Mortgagee to be entitled to the rights and benefits pertaining to Permitted Leasehold Mortgagees pursuant to this Article XVII, such Permitted Leasehold Mortgagee must hold or
benefit from a Permitted Leasehold Mortgage encumbering all of Tenant’s Leasehold Estate granted to Tenant under this Lease (subject to exclusions with respect to items that are not capable of being mortgaged and that, in the aggregate, are de
minimis) or one hundred percent (100%) of the direct or indirect Equity Interests in Tenant at any tier of ownership, and (ii) no Person shall be deemed to be a Permitted Leasehold Mortgagee hereunder unless and until (a) such Person
delivers a written agreement to Landlord providing that in the event of a termination of this Lease by Landlord pursuant to Section 16.2(x) hereof, such Permitted Leasehold Mortgagee and any Persons for whom it acts as representative, agent
or trustee, will not use or dispose of any Gaming License for use at a location other than at the Facility to which such Gaming License relates as of the date of the closing of a Lease Foreclosure Transaction (or, in the case of any additional
facility added to this Lease after such date, as of the date that such additional facility is added to the Lease), (b) the applicable Permitted Leasehold Mortgage shall include an express acknowledgement that any exercise of remedies thereunder that
would affect the Leasehold Estate shall be subject and subordinate to the terms of this Lease and (c) such Person executes a joinder to the Intercreditor Agreement in form and substance reasonably acceptable to all parties thereto. Tenant
represents and warrants that each Permitted Leasehold Mortgagee as of the Commencement Date has entered into the Intercreditor Agreement. Furthermore, as a condition to being deemed a Permitted Leasehold Mortgagee hereunder, each Permitted Leasehold
Mortgagee is deemed to acknowledge and agree (and hereby does acknowledge and agree) that (x) any rejection of this Lease in any bankruptcy, insolvency, dissolution or other proceeding will be treated as a
Non-Consented Lease Termination (as defined in the MLSA), unless in connection with such rejection of this Lease such Permitted Leasehold Mortgagee has acted in accordance with Section 17.1(f) hereof to
obtain a New Lease prior to the expiration of the period described therein, (y) subject to the terms and conditions of the Intercreditor Agreement, such Permitted Leasehold Mortgagee shall not take any action to prevent the rights of Landlord,
Manager and Lease Guarantor under Article XXI of the MLSA, including to effect the actions required in connection with a Replacement Structure (as defined therein), and (z) that any foreclosure or realization by any Permitted Leasehold
Mortgagee pursuant to a Permitted Leasehold Mortgage or upon Tenant’s interest under this Lease or that would result in a transfer of all or any portion of Tenant’s interest in the Leased Property or this Lease shall in any case be subject
to the applicable provisions, terms and conditions of Article XXII hereof. 

  
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 (b) Notice to Landlord. 

(i) If Tenant shall, on one or more occasions, mortgage Tenant’s Leasehold Estate pursuant to a Permitted Leasehold
Mortgage and if the holder of such Permitted Leasehold Mortgage shall provide Landlord with written notice of such Permitted Leasehold Mortgage (which notice with respect to any Permitted Leasehold Mortgage not evidenced by a recorded security
instrument, in order to be effective, shall also state (or be accompanied by a notice of Tenant stating) the relative priority of all then-effective Permitted Leasehold Mortgages noticed to Landlord under this Section and shall be consented to in
writing by all then-existing Permitted Leasehold Mortgagees) together with a true copy of such Permitted Leasehold Mortgage and the name and address of the Permitted Leasehold Mortgagee, Landlord and Tenant agree that, following receipt of such
written notice by Landlord (which notice shall be accompanied by any items required pursuant to Section 17.1(a) above), the provisions of this Section 17.1 shall apply to each such Permitted Leasehold Mortgage. In the event of any
assignment of a Permitted Leasehold Mortgage or in the event of a change of address of a Permitted Leasehold Mortgagee or of an assignee of such Permitted Leasehold Mortgage, written notice of such assignment or change of address and of the new name
and address shall be provided to Landlord, and the provisions of this Section 17.1 shall continue to apply, provided such assignee is a Permitted Leasehold Mortgagee. 

(ii) Landlord shall reasonably promptly following receipt of a communication purporting to constitute the notice provided for
by subsection (b)(i) above (and such additional items requested by Landlord pursuant to the first sentence of Section 17.1(b)(iii)) acknowledge by written notice receipt of such communication as constituting the notice provided for by
subsection (b)(i) above and confirming the status of the Permitted Leasehold Mortgagee as such or, in the alternative, notify Tenant and the Permitted Leasehold Mortgagee of the rejection of such communication and any such items as not conforming
with the provisions of this Section 17.1 and specify the specific basis of such rejection. 
 (iii) After
Landlord has received the notice provided for by subsection (b)(i) above, Tenant shall with reasonable promptness provide Landlord with copies of the Permitted Leasehold Mortgage, note or other obligations secured by such Permitted Leasehold
Mortgage and any other documents pertinent to the Permitted Leasehold Mortgage reasonably requested by Landlord. Tenant shall thereafter also provide Landlord from time to time with a copy of each material amendment or other modification or
supplement to such instruments. All recorded documents shall be accompanied by the appropriate recording stamp or other certification of the custodian of the relevant recording office as to their authenticity as true and correct copies of official
records and all nonrecorded documents shall be accompanied by a certification by Tenant that such documents are true and correct copies of the originals. From time to time upon being requested to do so by Landlord, Tenant shall also notify Landlord
of the date and place of recording and other pertinent recording data with respect to such instruments as have been recorded. 

  
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 (iv) Notwithstanding the requirements of this Section 17.1(b), it is
agreed and acknowledged that Tenant’s Initial Financing (and the mortgages, security agreements and/or other loan documents in connection therewith) as of the date of this Lease shall be deemed a Permitted Leasehold Mortgage (with respect to
which notice has been properly provided to Landlord pursuant to Section 17.1(b)(i)) without the requirement that Tenant or Landlord comply with the initial requirements set forth in clauses (i) through (iii) above, (but, for the
avoidance of doubt, Tenant’s Initial Financing is not relieved of the requirement that it satisfy the requirements of Section 17.1(a) the last sentence of Section 17.1(b)(i). In addition, for the avoidance of doubt, the Parties
confirm that Tenant shall not be relieved of the requirement to comply with the final three (3) sentences of Section 17.1(b)(iii) with respect to Tenant’s Initial Financing or any other financing with a Permitted Leasehold
Mortgagee. 
 (c) Default Notice to Permitted Leasehold Mortgagee. Landlord, upon providing Tenant any notice of
default under this Lease, shall at the same time provide a copy of such notice to every Permitted Leasehold Mortgagee for which notice has been properly provided to Landlord pursuant to Section 17.1(b)(i) hereof. No such notice by Landlord to
Tenant shall be deemed to have been duly given unless and until a copy thereof has been sent, in the manner prescribed in Article XXXV of this Lease, to every such Permitted Leasehold Mortgagee for which notice has been properly provided to
Landlord pursuant to Section 17.1(b)(i) hereof. From and after the date such notice has been sent to a Permitted Leasehold Mortgagee, such Permitted Leasehold Mortgagee shall have the same period, with respect to its remedying any
default or acts or omissions which are the subject matter of such notice or causing the same to be remedied, as is given Tenant after the giving of such notice to Tenant, plus in each instance, the additional periods of time specified in subsections
(d) and (e) of this Section 17.1 to remedy or cause to be remedied the defaults or acts or omissions which are the subject matter of such notice specified in any such notice. Landlord shall accept such performance by
or at the instigation of such Permitted Leasehold Mortgagee as if the same had been done by Tenant. Tenant authorizes each such Permitted Leasehold Mortgagee (to the extent such action is authorized under the applicable loan documents to which it
acts as a lender, noteholder, investor, agent, trustee or representative) to take any such action at such Permitted Leasehold Mortgagee’s option and does hereby authorize entry upon the Leased Property by the Permitted Leasehold Mortgagee for
such purpose. 
 (d) Right to Terminate Notice to Permitted Leasehold Mortgagee. Anything contained in this Lease to
the contrary notwithstanding, if any Tenant Event of Default shall occur which entitles Landlord to terminate this Lease, Landlord shall have no right to terminate this Lease on account of such Tenant Event of Default unless Landlord shall notify
every Permitted Leasehold Mortgagee for which notice has been properly provided to Landlord pursuant to Section 17.1(b) hereof that the period of time given Tenant to cure such default or act or omission has lapsed and, accordingly, Landlord
has the right to terminate this Lease (“Right to Terminate Notice”). The provisions of subsection (e) below of this Section 17.1 shall apply if, during (x) the thirty (30) day period
following Landlord’s delivery of the Right to Terminate Notice if such Tenant Event of Default is capable of being cured by the payment of money, or 

  
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(y) the ninety (90) day period following Landlord’s delivery of the Right to Terminate Notice, if such Tenant Event of Default is not capable of being cured by the payment of
money, any Permitted Leasehold Mortgagee shall: 
 (i) notify Landlord of such Permitted Leasehold Mortgagee’s desire to
nullify such Right to Terminate Notice; 
 (ii) pay or cause to be paid all Rent, Additional Charges, and other payments
(A) then due and in arrears as specified in the Right to Terminate Notice to such Permitted Leasehold Mortgagee, and (B) which may become due during such thirty (30) or ninety (90) day (as the case may be) period (as and when the
same may become due); and 
 (iii) comply with or in good faith, with reasonable diligence and continuity, commence to comply
with all nonmonetary requirements of this Lease then in default and reasonably susceptible of being complied with by such Permitted Leasehold Mortgagee (e.g., defaults that are not personal to Tenant hereunder); provided, however, that
such Permitted Leasehold Mortgagee shall not be required during such ninety (90) day period to cure or commence to cure any default consisting of Tenant’s failure to satisfy and discharge any lien, charge or encumbrance against
Tenant’s interest in this Lease or the Leased Property or any of Tenant’s other assets that is/are (x) junior in priority to the lien of the mortgage or other security documents held by such Permitted Leasehold Mortgagee and
(y) would be extinguished by the foreclosure of the Permitted Leasehold Mortgage that is held by such Permitted Leasehold Mortgagee; and 

(iv) during such thirty (30) or ninety (90) day period, the Permitted Leasehold Mortgagee shall respond, with
reasonable diligence, to requests for information from Landlord as to the Permitted Leasehold Mortgagee’s (and related lender’s) intent to pay such Rent and other charges and comply with this Lease. 

If the applicable default shall be cured pursuant to the terms and within the time periods allowed in this Section 17.1(d), this Lease shall continue
in full force and effect as if Tenant had not defaulted under the Lease. If a Permitted Leasehold Mortgagee shall fail to take all of the actions described in this Section 17.1(d) prior to the deadlines set forth herein, such Permitted
Leasehold Mortgagee shall have no further rights under this Section 17.1(d) or Section 17.1(e). 
 (e) Procedure on
Default. 
 (i) If Landlord shall elect to terminate this Lease by reason of any Tenant Event of Default that has
occurred and is continuing and a Permitted Leasehold Mortgagee shall have proceeded in the manner provided for by subsection (d) of this Section 17.1, the applicable cure periods available pursuant to Section 17.1(d) above shall continue
to be extended so long as during such continuance: 
 (1) such Permitted Leasehold Mortgagee shall pay or cause to be paid
the Rent, Additional Charges and other monetary obligations of Tenant under this Lease as the same become due, and continue its good faith efforts to perform or cause to be performed all of Tenant’s other

  
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obligations under this Lease, excepting (A) obligations of Tenant to satisfy or otherwise discharge any lien, charge or encumbrance against Tenant’s interest in this Lease or the Leased
Property or any of Tenant’s other assets that is/are (x) junior in priority to the lien of the mortgage or other security documents held by such Permitted Leasehold Mortgagee and (y) would be extinguished by the foreclosure of the
Permitted Leasehold Mortgage that is held by such Permitted Leasehold Mortgagee and (B) past non-monetary obligations then in default and not reasonably susceptible of being cured by such Permitted
Leasehold Mortgagee; and 
 (2) subject to and in accordance with Section 22.2(i), if not enjoined or stayed pursuant
to a bankruptcy or insolvency proceeding or other judicial order, such Permitted Leasehold Mortgagee shall diligently continue to pursue acquiring or selling Tenant’s interest in this Lease and the Leased Property (or, to the extent applicable,
the direct or indirect interests in Tenant) by foreclosure of the Permitted Leasehold Mortgage or other appropriate means and diligently prosecute the same to completion. 

(ii) Without limitation of Tenant’s right to deliver a Renewal Notice, it is agreed that a Permitted Leasehold Mortgagee
also shall have the right to deliver a Renewal Notice on behalf of Tenant during any period in which such Permitted Leasehold Mortgagee is complying with Section 17.1(d) or 17.1(e). 

(iii) If a Permitted Leasehold Mortgagee is complying with subsection (e)(i) of this Section 17.1, upon the
acquisition of Tenant’s Leasehold Estate (or, to the extent applicable, the direct or indirect interests in Tenant) herein by such Permitted Leasehold Mortgagee, a Permitted Leasehold Mortgagee Designee or an assignee thereof permitted by
Section 22.2(i) hereof, this Lease shall continue in full force and effect as if Tenant had not defaulted under this Lease provided that such successor cures all outstanding defaults that can be cured through the payment of money and all
other defaults that are reasonably susceptible of being cured as provided in said subsection (e)(i). 
 (iv) For the purposes
of this Section 17.1, no Permitted Leasehold Mortgagee shall be deemed to be an assignee or transferee of this Lease or of the Leasehold Estate hereby created by virtue of the Permitted Leasehold Mortgage so as to require such Permitted
Leasehold Mortgagee, as such, to assume the performance of any of the terms, covenants or conditions on the part of Tenant to be performed hereunder; but the purchaser at any sale of this Lease (or, to the extent applicable, the direct or indirect
interests in Tenant) (including a Permitted Leasehold Mortgagee if it is the purchaser at foreclosure) and of the Leasehold Estate hereby created in any proceedings for the foreclosure of any Permitted Leasehold Mortgage, or the assignee or
transferee of this Lease and of the Leasehold Estate hereby created (or, to the extent applicable, the direct or indirect interests in Tenant) under any instrument of assignment or transfer in lieu of the foreclosure of any Permitted Leasehold
Mortgage, shall be subject to all of the provisions, terms and conditions of this Lease including, without limitation, Section 22.2(i) hereof. 

  
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 (v) Notwithstanding any other provisions of this Lease, any Permitted Leasehold
Mortgagee, Permitted Leasehold Mortgagee Designee or other acquirer of the Leasehold Estate of Tenant (or, to the extent applicable, the direct or indirect interests in Tenant) in accordance with the requirements of Section 22.2(i) of this
Lease pursuant to foreclosure, assignment in lieu of foreclosure or other similar proceedings of this Lease may, upon acquiring Tenant’s Leasehold Estate (or, to the extent applicable, the direct or indirect interests in Tenant), without
further consent of Landlord, (x) sell and assign interests in the Leasehold Estate (or, to the extent applicable, the direct or indirect interests in Tenant) as and to the extent provided in this Lease, and (y) enter into Permitted
Leasehold Mortgages in the same manner as the original Tenant, as and to the extent provided in this Lease, in each case under clause (x) or (y), subject to the terms of this Lease, including Article XVII and Section 22.2(i)
hereof. 
 (vi) Notwithstanding any other provisions of this Lease, any sale of this Lease and of the Leasehold Estate hereby
created (or, to the extent applicable, the direct or indirect interests in Tenant) in any proceedings for the foreclosure of any Permitted Leasehold Mortgage, or the assignment or transfer of this Lease and of the Leasehold Estate hereby created
(or, to the extent applicable, the direct or indirect interests in Tenant) in lieu of the foreclosure of any Permitted Leasehold Mortgage, shall, solely if and to the extent such sale, assignment or transfer complies with the requirements of
Section 22.2(i) hereof, be deemed to be a permitted sale, transfer or assignment of this Lease; provided, that the foreclosing Permitted Leasehold Mortgagee or purchaser at foreclosure sale or successor purchaser must either
(a) become a party to the MLSA pursuant to Section 11.1 and Section 13.1 of the MLSA (or, in the case of a foreclosure on or transfer of direct or indirect interests in Tenant, Tenant must remain a party to the MLSA) and satisfy the
requirements set forth in Section 22.2(i)(1)(B) and Section 22.2(i)(2) through (5) or (b) satisfy the requirements set forth in Section 22.2(i)(1)(A) and Sections 22.2(i)(2) through (5). 

(f) New Lease. In the event that this Lease is rejected in any bankruptcy, insolvency or dissolution proceeding or is
terminated by Landlord following a Tenant Event of Default other than due to a default that is subject to cure by a Permitted Leasehold Mortgagee under Section 17.1(d) and Section 17.1(e) above, Landlord shall provide each Permitted
Leasehold Mortgagee with written notice that this Lease has been rejected or terminated (“Notice of Termination”), and, for the avoidance of doubt, upon delivery of such Notice of Termination, no Permitted Leasehold Mortgagee shall
have the rights as described in Section 17.1(d) and Section 17.1(e) above, but rather such Permitted Leasehold Mortgagee instead shall have the rights described in this Section 17.1(f)). Following any such rejection or
termination, Landlord agrees to enter into a new lease (“New Lease”) of the Leased Property with such Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee for the remainder of the term of this Lease, effective
as of the date of termination, at the rent and additional rent, and upon the terms, covenants and conditions (including all then-remaining options to renew but excluding requirements which have already been fulfilled) of this Lease, provided:

 (i) such Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee shall comply with the applicable
terms of Section 22.2; 

  
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 (ii) such Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee
Designee shall make a binding, written, irrevocable commitment to Landlord for such New Lease within thirty (30) days after the date such Permitted Leasehold Mortgagee receives Landlord’s Notice of Termination of this Lease given pursuant
to this Section 17.1(f); 
 (iii) such Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee
shall pay or cause to be paid to Landlord at the time of the execution and delivery of such New Lease, any and all sums which would at the time of execution and delivery thereof be due pursuant to this Lease but for such rejection or termination
(including, for avoidance of doubt, any amounts that become due prior to and remained unpaid as of the date of the Notice of Termination) and, in addition thereto, all reasonable expenses, including reasonable documented attorney’s fees, which
Landlord shall have incurred by reason of such rejection or such termination and the execution and delivery of the New Lease and which have not otherwise been received by Landlord from Tenant or other party in interest under Tenant; and 

(iv) such Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee shall agree to remedy any of
Tenant’s defaults of which said Permitted Leasehold Mortgagee was notified by Landlord’s Notice of Termination (or in any other written notice of Landlord) and which can be cured through the payment of money or, if such defaults cannot be
cured through the payment of money, are reasonably susceptible of being cured by Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee. 

(g) New Lease Priorities. If more than one Permitted Leasehold Mortgagee shall request a New Lease pursuant to
subsection (f)(i) of this Section 17.1, Landlord shall enter into such New Lease with the Permitted Leasehold Mortgagee whose mortgage is senior in lien, or with its Permitted Leasehold Mortgagee Designee acting for
the benefit of such Permitted Leasehold Mortgagee prior in lien foreclosing on Tenant’s interest in this Lease. Landlord, without liability to Tenant or any Permitted Leasehold Mortgagee with an adverse claim, may rely upon (i) with
respect to any Permitted Leasehold Mortgage evidenced by a recorded security instrument, a title insurance policy (or, if elected by Landlord in its sole discretion, a title insurance commitment, certificate of title or other similar instrument)
issued by a reputable title insurance company as the basis for determining the appropriate Permitted Leasehold Mortgagee who is entitled to such New Lease or (ii) with respect to any Permitted Leasehold Mortgage not evidenced by a recorded
security instrument, the statement with respect to relative priority of Permitted Leasehold Mortgages contained in the applicable notice delivered pursuant to Section 17.1(b)(i), provided that any such statement that provides that any such
Permitted Leasehold Mortgage described in this clause (ii) is senior or prior to any Permitted Leasehold Mortgage evidenced by a recorded security instrument shall only be effective to the extent it is consented to in writing by the Permitted
Leasehold Mortgagee in respect of such Permitted Leasehold Mortgage evidenced by a recorded security instrument. 
 (h) Permitted
Leasehold Mortgagee Need Not Cure Specified Defaults. Nothing herein contained shall require any Permitted Leasehold Mortgagee to cure any Incurable Default in order to comply with the provisions of Sections 17.1(d) and
17.1(e), or as a condition 

  
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of entering into the New Lease provided for by Section 17.1(f). For the avoidance of doubt, upon such foreclosure and/or the effectuation of such a New Lease in accordance with the
provisions, terms and conditions hereof, any such defaults are automatically deemed waived through the effective date of such foreclosure or New Lease as to any such Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee, as the
new tenant hereunder or under the New Lease, as applicable (it being understood that the provisions of this sentence shall not be deemed to relieve such new tenant of its obligations to comply with this Lease in or such New Lease from and after the
effective date of such foreclosure or New Lease). 
 (i) Casualty Loss. A standard mortgagee clause naming each
Permitted Leasehold Mortgagee for which notice has been properly provided to Landlord pursuant to Section 17.1(b) hereof may be added to any and all insurance policies required to be carried by Tenant hereunder on condition that (and, in all
events, Tenant agrees that) the insurance proceeds are to be applied in the manner specified in this Lease and the Permitted Leasehold Mortgage shall so provide; except that the Permitted Leasehold Mortgage may provide a manner for the disposition
of such proceeds, if any, otherwise payable directly to Tenant (but not such proceeds, if any, payable jointly to Landlord and Tenant or to Landlord, to the Fee Mortgagee or to a third-party escrowee) pursuant to the provisions of this Lease. 

(j) Arbitration; Legal Proceedings. Landlord shall give prompt notice to each Permitted Leasehold Mortgagee (for which
notice has been properly provided to Landlord pursuant to Section 17.1(b) hereof) of any arbitration (including a determination of Fair Market Ownership Value or Fair Market Base Rental Value) or legal proceedings between Landlord and Tenant
involving obligations under this Lease. 
 (k) Notices. Notices from Landlord to the Permitted Leasehold Mortgagee for
which notice has been properly provided to Landlord pursuant to Section 17.1(b) hereof shall be provided in the method provided in Article XXXV hereof to the address furnished Landlord pursuant to subsection (b) of this
Section 17.1, and those from the Permitted Leasehold Mortgagee to Landlord shall be mailed to the address designated pursuant to the provisions of Article XXXV hereof. Such notices, demands and requests shall be
given in the manner described in this Section 17.1 and in Article XXXV and shall in all respects be governed by the provisions of those sections. 

(l) Limitation of Liability. Notwithstanding any other provision hereof to the contrary, (i) Landlord agrees that
any Permitted Leasehold Mortgagee’s liability to Landlord in its capacity as Permitted Leasehold Mortgagee hereunder howsoever arising shall be limited to and enforceable only against such Permitted Leasehold Mortgagee’s interest in the
Leasehold Estate and the other collateral granted to such Permitted Leasehold Mortgagee to secure the obligations under the loan secured by the applicable Permitted Leasehold Mortgage, and (ii) each Permitted Leasehold Mortgagee agrees that
Landlord’s liability to such Permitted Leasehold Mortgagee hereunder howsoever arising shall be limited to and enforceable only against Landlord’s interest in the Leased Property, and no recourse against Landlord shall be had against any
other assets of Landlord whatsoever. 
 (m) Sale Procedure. If this Lease has been terminated, the Permitted Leasehold
Mortgagee for which notice has been properly provided to Landlord pursuant to 

  
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Section 17.1(b) hereof with the most senior lien on the Leasehold Estate shall have the right to make the determinations and agreements on behalf of Tenant under Article XXXVI, in
each case, in accordance with and subject to the terms and provisions of Article XXXVI. 
 (n) Third Party Beneficiary.
Each Permitted Leasehold Mortgagee (for so long as such Permitted Leasehold Mortgagee holds a Permitted Leasehold Mortgage) is an intended third-party beneficiary of this Article XVII entitled to enforce the same as if a party to this Lease.

 (o) The fee title to the Leased Property and the Leasehold Estate of Tenant therein created by this Lease shall not merge but shall
remain separate and distinct, notwithstanding the acquisition of said fee title and said Leasehold Estate by Landlord or by Tenant or by a third party, by purchase or otherwise. 

17.2 Landlord Cooperation with Permitted Leasehold Mortgage. If, in connection with granting any Permitted
Leasehold Mortgage or entering into an agreement relating thereto, Tenant shall request in writing (i) reasonable cooperation from Landlord or (ii) reasonable amendments or modifications to this Lease, in each case required to comply with
any reasonable request made by Permitted Leasehold Mortgagee, Landlord shall reasonably cooperate with such request, so long as (a) no Tenant Event of Default is continuing, (b) all reasonable documented out-of-pocket costs and expenses incurred by Landlord, including, but not limited to, its reasonable documented attorneys’ fees, shall be paid by Tenant, and (c) any requested action, including any
amendments or modification of this Lease, shall not (i) increase Landlord’s monetary obligations under this Lease by more than a de minimis extent, or increase Landlord’s non-monetary
obligations under this Lease in any material respect or decrease Tenant’s obligations in any material respect, (ii) diminish Landlord’s rights under this Lease in any material respect, (iii) adversely impact the value of the
Leased Property by more than a de minimis extent or otherwise have a more than de minimis adverse effect on the Leased Property, Tenant or Landlord, (iv) adversely impact Landlord’s (or any Affiliate of Landlord’s) tax treatment or
position, (v) result in this Lease not constituting a “true lease”, or (vi) result in a default under the Fee Mortgage Documents. 

ARTICLE XVIII 

TRANSFERS BY LANDLORD 

18.1 Transfers Generally. Landlord may sell, assign, transfer or convey, without Tenant’s consent, the entire
Leased Property with respect to all of the Facilities hereunder or the Leased Property with respect to any individual Facility in each case, in whole (subject to exclusions for assets that may not be transferred and that, in the aggregate, are de
minimis) but not in part (unless in part due to a transaction in which multiple Affiliates of a single Person (collectively, “Affiliated Persons”) will own the applicable Leased Property as tenants in common, but only if all such
Landlord Affiliated Persons execute a joinder to either this Lease or the applicable Severance Lease, as applicable, as “Landlord”, on a joint and several basis, the form and substance of which joinder shall be reasonably satisfactory to
Tenant and Landlord) to a single transferee (such transferee, such tenants in common or any other permitted transferee of this Lease, in each case, an “Acquirer”) and, in connection with such transaction, (a) if the

  
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subject transaction involves a sale, assignment, transfer or conveyance of the entire Leased Property, this Lease shall be assigned to the applicable Acquirer such that the Acquirer shall become
successor Landlord as if an original party to this Lease, and (b) if the subject transaction involves a sale, assignment, transfer or conveyance of the Leased Property with respect to an individual Facility (or several Facilities but not all
Facilities), (A) this Lease shall remain in full force and effect with respect to the Facilities not transferred to the Acquirer, and (B) a Severance Lease (and a Severance MLSA), with the applicable Acquirer, shall be entered into with respect
to the transferred Facility(ies) as described in Section 18.2 below. All Acquirers shall execute a joinder to the Intercreditor Agreement in form and substance reasonably acceptable to all parties thereto. If Landlord
(including any permitted successor Landlord) shall convey the entire Leased Property or the Leased Property with respect to an individual Facility or Facilities in accordance with the terms of this Lease, other than as security for a debt, and the
applicable Acquirer expressly assumes all obligations of Landlord arising after the date of the conveyance, Landlord shall thereupon be released from all future liabilities and obligations of Landlord under this Lease with respect to the transferred
portion of the Leased Property arising or accruing from and after the date of such conveyance or other transfer and all such future liabilities and obligations relating to such transferred Leased Property shall thereupon be binding upon such
applicable Acquirer. Without limitation of the preceding provisions of this Section 18.1, any or all of the following shall be freely permitted to occur: (i) any transfer of (a) the entire Leased Property or (b)
the entire Leased Property with respect to an individual Facility to a Fee Mortgagee (in each case, subject to exclusions for assets that may not be transferred and that, in the aggregate, are de minimis) in accordance with the terms of this Lease
(including any transfer of the direct or indirect equity interests in Landlord), which transfer may include, without limitation, a transfer by foreclosure brought by the Fee Mortgagee or a transfer by a deed in lieu of foreclosure, assignment in
lieu of foreclosure or other transaction in lieu of foreclosure; (ii) a merger transaction or other similar disposition affecting Landlord REIT or a sale by Landlord REIT directly or indirectly involving the Leased Property (so long as
(x) upon consummation of such transaction, all of the Leased Property (subject to exclusions for assets that may not be transferred and that, in the aggregate, are de minimis) is owned by a single Person (or multiple Affiliated Persons as
tenants in common) and (y) such surviving Person(s) execute(s) an assumption of this Lease, the MLSA and all Lease/MLSA Related Agreements to which Landlord is a party, assuming all obligations of Landlord hereunder and thereunder) (in the case
of multiple Affiliated Persons, on a joint and several basis), the form and substance of which assumption shall be reasonably satisfactory to Tenant and Landlord); (iii) a sale/leaseback transaction by Landlord with respect to all of the Leased
Property pertaining to any Facility or Facilities (subject to exclusions for assets that may not be transferred and that, in the aggregate, are de minimis) (provided (x) the overlandlord under the resulting overlease agrees that, in the event
of a termination of such overlease, this Lease shall continue in effect as a direct lease between such overlandlord and Tenant and (y) the overlease shall not impose any new, additional or more onerous obligations on Tenant without
Tenant’s prior written consent in Tenant’s sole discretion (and without limiting the generality of the foregoing, the overlease shall not impose any additional monetary obligations (whether for payment of rents under such overlease or
otherwise) on Tenant), subject to and in accordance with all of the provisions, terms and conditions of this Lease; (iv) any sale of any indirect interest in the Leased Property in respect of any Facility or Facilities that does not change the
identity of Landlord hereunder, including without limitation a participating interest in Landlord’s (or the interest of the fee 

  
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owning entities comprising Landlord) interest under this Lease or a sale of Landlord’s (or any such fee owning entity’s or entities’) reversionary interest in the Leased Property
(or the applicable Leased Property pertaining to any individual Facility) so long as Landlord remains the only party with authority to bind the Landlord under this Lease, or (v) a sale or transfer to an Affiliate of Landlord or a joint venture
entity in which any Affiliate of Landlord is the managing member or partner, so long as (x) upon consummation of such transaction, all of the Leased Property (or all of the Leased Property pertaining to an individual Facility) (subject to
exclusions for assets that may not be transferred and that, in the aggregate, are de minimis) is owned by a single Person or multiple Affiliated Persons as tenants in common and (y) such Person(s) execute(s) an assumption of this Lease, the
MLSA and all Lease/MLSA Related Agreements to which Landlord is a party, assuming all obligations of Landlord hereunder and thereunder (in the case of multiple Affiliated Persons, on a joint and several basis), the form and substance of which
assumption shall be reasonably satisfactory to Tenant and Landlord. Notwithstanding anything to the contrary herein, Landlord shall not sell, assign, transfer or convey any Leased Property, or assign this Lease, to (I) a Tenant Prohibited
Person (as defined in the MLSA), (II) a Manager Prohibited Person (as defined in the MLSA), or (III) any Person that is associated with a Person who has been found “unsuitable”, denied a Gaming License or otherwise precluded from
participation in the Gaming Industry by any Gaming Authority where such association may adversely affect, any of Tenant’s or its Affiliates’ Gaming Licenses or Tenant’s or its Affiliates’ then-current standing with any Gaming
Authority. Any transfer by Landlord under this Article XVIII shall be subject to all applicable Legal Requirements, including any Gaming Regulations, and no such transfer shall be effective until any applicable approvals with respect to
Gaming Regulations, if applicable, are obtained. Tenant shall attorn to and recognize any successor Landlord in connection with any transfer(s) permitted under this Article XVIII as Tenant’s “landlord”. 

18.2 Severance Leases. In the event a fee owning Landlord entity desires to sell or otherwise transfer a Facility
(in whole but not in part) to a third party or to an affiliate of Landlord, the Parties shall enter into a Severance Lease with respect to such Facility, in accordance with the following provisions: 

(a) Landlord shall give Tenant not less than fifteen (15) days’ advance written notice of a Severance Lease, and the applicable
operating Tenant entity with respect to the applicable Leased Property (as set forth on Exhibit A) shall thereafter, within said fifteen (15)-day period (or such longer period of time as Landlord may
require; it being understood that Landlord may delay or cancel the Severance Lease in the event that the underlying sale or transfer of a Facility is delayed or cancelled for any reason), execute, acknowledge and deliver a Severance Lease to the new
owner of the applicable Facility for the remaining Term and on substantially the same terms and conditions as this Lease (except for appropriate adjustments (including to Exhibits and Schedules), including such adjustments as are described in this
Article XVIII), and in any case no less favorable to Tenant than the terms and conditions of this Lease,. 
 (b) Rent payable under
the Severance Lease at the time of the commencement of such Severance Lease shall be equal to the amount of the Rent Reduction Amount for the applicable Leased Property to be subject to such Severance Lease. Correspondingly, Rent payable
hereunder shall be reduced by such Rent Reduction Amount. 

  
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 (c) If the applicable operating Tenant entity with respect to such Leased Property to be subject
to such Severance Lease is not listed on Exhibit A as a Tenant with respect to any Leased Property remaining subject to this Lease, then, upon such operating Tenant entity’s execution of such Severance Lease, such operating Tenant entity
shall be released from any and all liability and obligations with respect to this Lease accruing from and after such execution of such Severance Lease. 

(d) Any Severance Lease shall contain minimum capital expenditure requirements regarding the applicable Facility leased pursuant to such
Severance Lease that, in the aggregate (taken together with the Minimum Cap Ex Requirements under this Lease and the Other Leases, after taking into consideration applicable reductions of the Minimum Cap Ex Requirements under this Lease in the
amount of the Minimum Cap Ex Reduction Amount), are no greater than the Minimum Cap Ex Requirements under this Lease and the Other Leases immediately prior to execution of the applicable Severance Lease. 

(e) Tenant shall take such actions and execute and deliver such documents, including, without limitation, amended Memorandum(s) of Lease and,
if requested by Landlord, an amendment to this Lease, as are reasonably necessary and appropriate to effectuate fully the provisions and intent of this Article XVIII, and as Landlord may reasonably request to evidence such removal of a
Facility (or Facilities). 
 (f) Upon execution of a Severance Lease, the applicable parties shall enter into a corresponding Severance
MLSA. 
 (g) All reasonable, documented out-of-pocket costs
and expenses relating to a Severance Lease (including reasonable attorneys’ fees and other reasonable, documented out-of-pocket costs incurred by Tenant or
Guarantor for outside counsel, if any) shall be borne by Landlord and not Tenant. 
 (h) Landlord and Tenant shall cooperate with all
applicable gaming authorities in all reasonable respects to facilitate all necessary regulatory reviews, approvals and/or authorizations with respect to the Severance Lease, in accordance with applicable Gaming Regulations. The execution and
implementation of any Severance Lease shall be subject to obtaining all applicable approvals from the applicable Gaming Authorities. 

18.3 Permitted Property Sales. Notwithstanding anything contained to the contrary herein, upon Landlord providing
to Tenant not less than ten (10) days’ advance written notice, Landlord may sell or otherwise convey to a third party, without Tenant’s consent in each instance, any or all of the property identified on Schedule 7 attached
hereto. Upon such sale or conveyance, the applicable property shall no longer be considered Leased Property hereunder, but no reduction in Rent or the Minimum Cap Ex Requirements shall be applicable and no Severance Lease or corresponding Severance
MLSA shall be applicable. 
 18.4 Transfers to Tenant Competitors. In the event that, and so long as, Landlord
with respect to any Leased Property is a Tenant Competitor, then, notwithstanding anything herein to the contrary, the following shall apply: 

  
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 (a) Without limitation of Section 23.1(c) of this Lease, Tenant shall not be required to
deliver the information required to be delivered to such Landlord pursuant to Section 23.1(b) hereof to the extent the same would give such Landlord a “competitive” advantage with respect to markets in which such Landlord and Tenant
or CEC might be competing at any time (it being understood that such Landlord shall retain audit rights with respect to such information to the extent required to confirm Tenant’s compliance with the terms of this Lease) (and such Landlord
shall be permitted to comply with Securities Exchange Commission, Internal Revenue Service and other legal and regulatory requirements with regard to such information) and provided that appropriate measures are in place to ensure that only such
Landlord’s auditors (which for this purpose shall be a “big four” firm designated by such Landlord) and attorneys (as reasonably approved by Tenant) (and not Landlord or any Affiliates of such Landlord or any direct or indirect parent
company of such Landlord or any Affiliate of such Landlord) are provided access to such information or (2) to provide information that is subject to the quality assurance immunity or is subject to attorney-client privilege or the attorney work
product doctrine. 
 (b) Certain of Landlord’s consent or approval rights set forth in this Lease shall be eliminated or modified, as
follows: 
 (i) Clause (vii) of the definition of Primary Intended Use shall be deleted, and clause (v) of the
definition of Primary Intended Use shall be modified to read as follows: “(v) such other ancillary uses, but in all events consistent with the current use of the Leased Property or any portion thereof as of the Commencement Date or with
then-prevailing or innovative or state-of-the-art hotel, resort and gaming industry use, and/or”. 

(ii) Without limitation of the other provisions of Section 10.1(a), the approval of Landlord shall not be required under
(1) Section 10.1(a)(1) for Alterations and Capital Improvements in excess of Seventy-Five Million and No/100 Dollars ($75,000,000.00), and (2) Section 10.2(b) for approval of the Architect thereunder. 

(c) With respect to all consent, approval and decision-making rights granted to such Landlord under the Lease relating to competitively
sensitive matters pertaining to the use and operation of the Leased Property and Tenant’s business conducted thereat (other than any right of Landlord to grant waivers and amend or modify any of the terms of this Lease), such Landlord shall
establish an independent committee to evaluate, negotiate and approve such matters, independent from and without interference from such Landlord’s management or Board of Directors. Any dispute over whether a particular decision should be
determined by such independent committee shall be submitted for resolution by an Expert pursuant to Section 34.2 hereof. 
 Tenant
acknowledges and agrees that (x) as of the Commencement Date, Joliet Partner is a minority interest holder in the landlord under the Joliet Lease and does not Control such landlord; and (y) for so long as the circumstances in clause
(x) continue and the Joliet Partner continues to own no more than twenty percent (20%) of the interest in such landlord, neither Landlord nor any of its Affiliates shall be deemed to be a Tenant Competitor solely as a result of the
circumstances in clause (x). 

  
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 ARTICLE XIX 

HOLDING OVER 
 If Tenant
shall for any reason remain in possession of all or any portion of the Leased Property after the Expiration Date without the consent, or other than at the request, of Landlord, such possession shall be as a month-to-month tenant during which time Tenant shall pay as Rent each month an amount equal to (a) the sum of (x) two hundred percent (200%) of the monthly installment of Rent allocable to the
portion of the Leased Property in which Tenant remains in possession as of the Expiration Date, plus (y) one hundred twenty-five percent (125%) of the monthly installment of Rent allocable to the balance of the Leased Property (in which Tenant
does not remain in possession) applicable as of the Expiration Date, and (b) all Additional Charges and all other sums payable by Tenant pursuant to this Lease. During such period of month-to-month tenancy, Tenant shall be obligated to perform and observe all of the terms, covenants and conditions of this Lease, but shall have no rights hereunder other than the right, to the extent given
by law to month-to-month tenancies, to continue its occupancy and use of such portion of the Leased Property associated therewith. Nothing contained herein shall
constitute the consent, express or implied, of Landlord to the holding over of Tenant after the Expiration Date. This Article XIX is subject to Tenant’s rights and obligations under Article XXXVI below, and it is understood and
agreed that any possession of the Leased Property after the Expiration Date pursuant to such Article XXXVI shall not constitute a hold over subject to this Article XIX. 

ARTICLE XX 
 RISK OF
LOSS 
 The risk of loss or of decrease in the enjoyment and beneficial use of the Leased Property or any part thereof as a consequence
of the damage or destruction thereof by fire, the elements, casualties, thefts, riots, wars or otherwise, or in consequence of foreclosures, attachments, levies or executions (other than by Landlord and Persons claiming from, through or under
Landlord) during the Term is assumed by Tenant, and except as otherwise expressly provided herein no such event shall entitle Tenant to any abatement of Rent. 

ARTICLE XXI 

INDEMNIFICATION 
 21.1
General Indemnification. 
 (i) In addition to the other indemnities contained herein, and notwithstanding
the existence of any insurance carried by or for the benefit of Landlord or Tenant, and without regard to the policy limits of any such insurance, Tenant shall protect, indemnify, save harmless and defend Landlord and its principals, partners,
officers, members, directors, shareholders, employees, managers, agents and servants (collectively, the “Landlord Indemnified Parties”; each individually, a “Landlord Indemnified Party”), from and against all
liabilities, obligations, claims, damages, 

  
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penalties, causes of action, costs and expenses, including reasonable documented attorneys’, consultants’ and experts’ fees and expenses, imposed upon or incurred by or asserted
against the Landlord Indemnified Parties (excluding any indirect, special, punitive or consequential damages as provided in Section 41.3) by reason of any of the following (in each case, other than to the extent resulting from
Landlord’s gross negligence or willful misconduct or default hereunder or the violation by Landlord of any Legal Requirement imposed against Landlord (including any Gaming Regulations, but excluding any Legal Requirement which Tenant is
required to satisfy pursuant to the terms hereof or otherwise)): (i) any accident, injury to or death of Persons or loss of or damage to property occurring on or about any Facility (or any part thereof) or adjoining sidewalks under the control
of Tenant or any Subtenant; (ii) any use, misuse, non-use, condition, maintenance or repair by Tenant of any Facility (or any part thereof); (iii) any failure on the part of Tenant to perform or
comply with any of the terms of this Lease; (iv) any claim for malpractice, negligence or misconduct committed by Tenant or any Person on or from any Facility (or any part thereof); (v) the violation by Tenant of any Legal Requirement
(including any Gaming Regulations) or Insurance Requirements; (vi) the non-performance of any contractual obligation, express or implied, assumed or undertaken by Tenant with respect to any Facility (or
any portion thereof) or any business or other activity carried on in relation to any Facility (or any part thereof) by Tenant; (vii) any lien or claim that may be asserted against any Facility (or any part thereof) arising from any failure by
Tenant to perform its obligations hereunder or under any instrument or agreement affecting any Facility (or any part thereof); and (viii) any third-party claim asserted against Landlord as a result of Landlord being a party to the MLSA or
arising from Tenant’s or Manager’s or CEC’s failure to perform their respective obligations under the MLSA, in each case so long as such claim does not result from Landlord’s actions. Any amounts which become payable by Tenant
under this Article XXI shall be paid within ten (10) days after liability therefor is determined by a final non appealable judgment or settlement or other agreement of the Parties, and if not timely paid shall bear interest at the
Overdue Rate from the date of such determination to the date of payment. Tenant, with its counsel and at its sole cost and expense, shall contest, resist and defend any such claim, action or proceeding asserted or instituted against the Landlord
Indemnified Parties. For purposes of this Article XXI, any acts or omissions of Tenant or any Subtenant or any Subsidiary, as applicable, or by employees, agents, assignees, contractors, subcontractors or others acting for or on behalf of
Tenant or any Subtenant or any Subsidiary, as applicable (including, without limitation, Manager or anyone acting by, through or on behalf of Manager) (whether or not they are negligent, intentional, willful or unlawful), shall be strictly
attributable to Tenant. 
 (ii) Notwithstanding the existence of any insurance carried by or for the benefit of Landlord or
Tenant, and without regard to the policy limits of any such insurance, Landlord shall protect, indemnify, save harmless and defend Tenant and its principals, partners, officers, members, directors, shareholders, employees, managers, agents and
servants (collectively, the “Tenant Indemnified Parties”; each individually, a “Tenant Indemnified Party”) from and against all liabilities, obligations, claims, damages, penalties, causes of action, costs and
expenses, including reasonable documented attorneys’, consultants’ and experts’ fees and expenses, imposed upon or incurred by or asserted against the Tenant Indemnified Parties (excluding any indirect, special, punitive

  
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or consequential damages as provided in Section 41.3) by reason of (A) Landlord’s gross negligence or willful misconduct hereunder, other than to the extent resulting from
Tenant’s gross negligence or willful misconduct or default hereunder, and (B) the violation by Landlord of any Legal Requirement imposed against Landlord (including any Gaming Regulations, but excluding any Legal Requirement which Tenant
is required to satisfy pursuant to the terms hereof or otherwise). Any amounts which become payable by Landlord under this Article XXI shall be paid within ten (10) days after liability therefor is determined by a final non appealable
judgment or settlement or other agreement of the Parties, and if not timely paid shall bear interest at the Overdue Rate from the date of such determination to the date of payment. Landlord, with its counsel and at its sole cost and expense, shall
contest, resist and defend any such claim, action or proceeding asserted or instituted against the Tenant Indemnified Parties. For purposes of this Article XXI, any acts or omissions of Landlord, or by employees, agents, contractors,
subcontractors or others acting for or on behalf of Landlord (whether or not they are negligent, intentional, willful or unlawful), shall be strictly attributable to Landlord. 

21.2 Encroachments, Restrictions, Mineral Leases, etc. 

If any of the Leased Improvements shall encroach upon any property, street or
right-of-way, or shall violate any restrictive covenant or other similar agreement affecting the Leased Property, or any part thereof, or shall impair the rights of
others under any easement or right-of-way to which the Leased Property is subject, or the use of the Leased Property or any portion thereof is impaired, limited or
interfered with by reason of the exercise of the right of surface entry or any other provision of a lease or reservation of any oil, gas, water or other minerals, then, promptly upon the request of Landlord or any Person affected by any such
encroachment, violation or impairment (collectively, a “Title Violation”), Tenant, subject to its right to contest the existence of any such encroachment, violation or impairment to the extent provided in this Lease, and without
limitation of any of Tenant’s obligations otherwise set forth in this Lease (to the extent applicable), shall (i) in the case of any third party claims (excluding for the avoidance of doubt those made by Affiliates of Landlord) based on or
resulting from such Title Violation, protect, indemnify, save harmless and defend the Landlord Indemnified Parties from and against, with respect to matters first arising from and after the Commencement Date, one hundred percent (100%) of, and with
respect to matters existing as of the Commencement Date, fifty percent (50%) of, any and all losses, liabilities, obligations, claims, damages, penalties, causes of action, costs and expenses (including reasonable documented attorneys’,
consultants’ and experts’ fees and expenses) based on or arising by reason of any such third party claim based on or resulting from such Title Violation; provided, however, that Tenant shall be required to so protect, indemnify, save
harmless and defend the Landlord Indemnified Parties only to the extent that the proceeds from Landlord’s title insurance policies are not sufficient to cover such losses, liabilities, obligations, claims, damages, penalties, causes of action,
costs and expenses (it being understood that if Tenant pays any such amounts that are contemplated hereunder to be covered by Landlord’s title insurance policies, then Tenant shall be subrogated to all or fifty percent (50%) of (as applicable)
the rights of Landlord against its title insurance carriers and shall be entitled to, with respect to matters first arising from and after the Commencement Date, one hundred percent (100%) of, and with respect to matters existing as of the
Commencement Date, fifty percent (50%) of, the proceeds (net of Landlord’s out-of-pocket costs incurred in obtaining such proceeds) from such title insurance policy
related to such Title Violation; except, however, 

  
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Tenant shall not be entitled to receive proceeds from any such title insurance policies in excess of amounts actually paid by Tenant in connection therewith) and (ii) to the extent that no
third party makes a claim with respect to such Title Violation, Landlord shall not require Tenant to cure any of the foregoing matters unless it would have a material adverse effect on the Leased Property following expiration or termination of this
Lease, and in the event Tenant so cures any such matters, (A) Tenant shall bear with respect to matters first arising from and after the Commencement Date, one hundred percent (100%) of, and with respect to matters existing as of the
Commencement Date, fifty percent (50%) of, the cost of such cure (after giving effect to such title insurance proceeds), and (B) Tenant shall be subrogated to all or fifty percent (50%) of (as applicable) the rights of Landlord against its
title insurance carriers and shall be entitled to, with respect to matters first arising from and after the Commencement Date, one hundred percent (100%) of, and with respect to matters existing as of the Commencement Date, fifty percent (50%) of,
the proceeds (net of Landlord’s out-of-pocket costs incurred in obtaining such proceeds) from such title insurance policy related to such Title Violation; except,
however, Tenant shall not be entitled to receive proceeds from any such title insurance policies in excess of amounts actually paid by Tenant in connection therewith. In the event of an adverse final determination with respect to any such
encroachment, violation or impairment, (a) either of Tenant or Landlord shall obtain valid and effective waivers or settlements of all claims, liabilities and damages resulting from each such encroachment, violation or impairment, or
(b) Tenant shall make such changes in the Leased Improvements, and take such other actions, in each case reasonably acceptable to Landlord, as Tenant in the good faith exercise of its judgment deems reasonably practicable, to remove such
encroachment or to end such violation or impairment, including, if necessary, the alteration of any of the Leased Improvements, and in any event take all such actions as may be necessary in order to be able to continue the operation of the
applicable portion of the Leased Property for the Primary Intended Use substantially in the manner and to the extent the applicable portion of the Leased Property was operated prior to the assertion of such encroachment, violation or impairment;
provided that, (i) unless required under an adverse final determination of a claim brought by a third party other than Landlord or any Affiliate of Landlord, Tenant shall not be required to obtain any such waivers or settlements, make any such
changes or take any such other actions unless such encroachment, violation or impairment otherwise would have a material adverse effect on the Leased Property following expiration or termination of this Lease, and (ii) Tenant shall bear with
respect to matters first arising from and after the Commencement Date, one hundred percent (100%) of, and with respect to matters existing as of the Commencement Date, fifty percent (50%) of, the cost of obtaining such waivers or settlements, making
any such changes or taking any such other actions. Tenant’s obligations under this Section 21.2 shall be in addition to and shall in no way discharge or diminish any obligation of any insurer under any policy of title
or other insurance and, to the extent of any recovery under any title insurance policy, Tenant shall be entitled to, with respect to matters first arising from and after the Commencement Date, one hundred percent (100%) of, and with respect to
matters existing as of the Commencement Date, fifty percent (50%) of any sums recovered by Landlord under any such policy of title or other insurance (net of Landlord’s
out-of-pocket costs incurred in seeking such recovery) up to the maximum amount paid by Tenant in accordance with this Section 21.2 and
Landlord, upon request by Tenant, shall pay over to Tenant the applicable portion of such sum paid to Landlord in recovery on such claim. Landlord agrees to use reasonable efforts to seek recovery under any policy of title or other insurance under
which Landlord is an insured party for all losses, liabilities, obligations, 

  
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claims, damages, penalties, causes of action, costs and expenses (including reasonable documented attorneys’, consultants’ and experts’ fees and expenses) based on or arising by
reason of any such encroachment, violation or impairment as set forth in this Section 21.2; provided, however, that in no event shall Landlord be obligated to institute any litigation, arbitration or other
legal proceedings in connection therewith unless Landlord is reasonably satisfied that Tenant has the financial resources needed to fund all or fifty percent (50%) (as applicable) of the expenses of such litigation and Tenant and Landlord have
agreed upon the terms and conditions on which such funding will be made available by Tenant, including, but not limited to, the mutual approval of a litigation budget. 

ARTICLE XXII 
 TRANSFERS
BY TENANT 
 22.1 Subletting and Assignment. Other than as expressly provided herein (including in respect
of Permitted Leasehold Mortgages under Article XVII, and the permitted Subleases and assignments described in this Article XXII), Tenant shall not, without Landlord’s prior written consent (which, except as
specifically set forth herein, may be withheld in Landlord’s sole and absolute discretion), (w) voluntarily or by operation of law assign (which term includes any transfer, sale, encumbering, pledge or other transfer or hypothecation), directly
or indirectly, in whole or in part, this Lease or Tenant’s Leasehold Estate, (x) let or sublet (or sub-sublet, as applicable) all or any part of any Facility, or (y) other than in accordance
with the express terms of the MLSA, replace Manager or another wholly-owned subsidiary of CEC as Manager under the MLSA (other than with another wholly-owned subsidiary of CEC). Tenant acknowledges that Landlord is relying upon the expertise of
Tenant in the operation (and of Manager or such other Affiliate of CEC in the management) of the Facilities hereunder and that Landlord entered into this Lease with the expectation that Tenant would remain in and operate (and Manager or such other
Affiliate of CEC would manage) the Facilities during the entire Term. Any Change of Control (or, subject to Section 22.2 below, any transfer of direct or indirect interests in Tenant that results in a Change of Control)
shall constitute an assignment of Tenant’s interest in this Lease within the meaning of this Article XXII and the provisions requiring consent contained herein shall apply thereto. Notwithstanding anything set forth herein, except as
expressly provided in Section 22.2(i) or in Article XI of the MLSA, no assignment or direct or indirect transfer of any nature (whether or not permitted hereunder) shall have the effect of releasing Tenant, Guarantor or Manager from their respective
obligations under the MLSA. 
 22.2 Permitted Assignments and Transfers. Subject to compliance with the
provisions of Section 22.4, as applicable, and Article XL, Tenant (or a third-party as applicable to the extent expressly referenced below), without the consent of Landlord, may: 

(i) (a) subject to and in accordance with Section 17.1, assign this Lease (and/or permit the assignment of direct
or indirect interests in Tenant), in whole, but not in part, to a Permitted Leasehold Mortgagee for collateral purposes pursuant to a Permitted Leasehold Mortgage, (b) assign this Lease (and/or permit the assignment of direct or indirect
interests in Tenant) to such Permitted Leasehold Mortgagee, its Permitted Leasehold Mortgagee Designee or any other purchaser following any foreclosure or transaction in lieu of foreclosure of the Permitted Leasehold Mortgage, and

  
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(c) assign this Lease (and/or direct or indirect interests in Tenant) to any subsequent purchaser thereafter (provided such subsequent purchaser is not CEC, any Affiliate of CEC or any other
Prohibited Leasehold Agent), in each case, solely in connection with or following a foreclosure of, or transaction in lieu of foreclosure of, a Permitted Leasehold Mortgage; provided, however, that immediately upon giving effect to any Lease
Foreclosure Transaction, (1) subject to the last sentence of this Section 22.2, at the option of Foreclosure Successor Tenant, either of the following conditions (A) or (B) shall be satisfied (the “Tenant Transferee
Requirement”): (A) (x) a Qualified Transferee will be the replacement Tenant hereunder or will Control, and own not less than fifty-one percent (51%) of all of the direct and indirect economic
and beneficial interests in, Tenant or such replacement Tenant, (y) a replacement lease guarantor that is a Qualified Replacement Guarantor will have provided a Replacement Guaranty of the Lease, and (z) the Leased Property shall be
managed pursuant to a Replacement Management Agreement by a Qualified Replacement Manager or a manager that is expressly approved in writing by Landlord or (B) (x) a transferee that satisfies the requirements set forth in clauses
(b) through (i) in the definition of Qualified Transferee will be the replacement Tenant or will Control and own not less than fifty-one percent (51%) of all of the direct and indirect economic and
beneficial interests in Tenant, (y) the Lease shall continue to be guaranteed by Guarantor under the MLSA (unless Landlord previously expressly consented in writing to the termination of the MLSA) (it being understood that in any event under
this clause (B) Guarantor’s obligations under the MLSA shall continue in full force and effect, without any reduction or impairment whatsoever, and without the need to reaffirm the same), and (z) the Property shall be managed by the
Manager (or a replacement manager previously appointed by Landlord following a Termination for Cause (as defined under the MLSA)) under the MLSA (or a replacement management agreement previously approved by Landlord); (2) the transferee and any
other Affiliates shall have obtained all necessary Gaming Licenses as required under applicable Legal Requirements (including Gaming Regulations) and all other licenses, approvals, and permits required for such transferee to be Tenant under this
Lease; (3) the transferee and its equity holders will comply with all customary “know your customer” requirements of any Fee Mortgagee; (4) a single Person or multiple Affiliated Persons as tenants in common (each of which
satisfy the Tenant Transferee Requirement) (provided such Affiliated Persons have executed a joinder to this Lease as the “Tenant” on a joint and several basis, the form and substance of which joinder shall be reasonably satisfactory to
Landlord) shall own, directly, all of Tenant’s Leasehold Estate and be Tenant under this Lease; and (5) the Foreclosure Successor Tenant shall (i) provide written notice to Landlord at least thirty (30) days prior to the closing
of the applicable Lease Foreclosure Transaction, specifying in reasonable detail the nature of such Lease Foreclosure Transaction and such additional information as Landlord may reasonably request in order to determine that the requirements of this
Section 22.2(i) are satisfied, which notice shall be accompanied by proposed forms of the Lease Assumption Agreement, the amendment to this Lease contemplated by the penultimate paragraph of this Section 22.2, and if clause (1)(A)
applies, the forms of proposed Replacement Guaranty and Replacement Management Agreement, (ii) assume (or, in the case of a foreclosure on or transfer of direct or indirect interests in Tenant, cause Tenant to reaffirm) in writing (in a form
reasonably acceptable to Landlord) the obligations of Tenant under this Lease, the MLSA (to the extent the 

  
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Property shall continue to be managed by the Manager under the MLSA), and all applicable Lease/MLSA Related Agreements to which Tenant is a party, from and after the date of the closing of the
Lease Foreclosure Transaction (a “Lease Assumption Agreement”), (iii) provide Landlord with a copy of any such Lease Assumption Agreement and all other documents required under this Section 22.2(i) as executed at such closing
promptly following such closing and (iv) provide Landlord with a customary opinion of counsel reasonably satisfactory to Landlord with respect to the execution, authorization, and enforceability and other customary matters; 

(ii) upon prior written notice to Landlord, assign this Lease in entirety to an Affiliate of Tenant, to CEC or an Affiliate of
CEC, provided, that such assignee becomes party to and assumes (in a form reasonably satisfactory to Landlord) this Lease, the MLSA and all applicable Lease/MLSA Related Agreements to which Tenant is a party (it being understood, for the
avoidance of doubt, that none of the foregoing shall result in Tenant being released from this Lease, the MLSA or any of the other Lease/MLSA Related Agreements); 

(iii) transfer direct or indirect interests in Tenant or its direct or indirect parent(s) on a nationally-recognized exchange;
provided, however, that, in the event of a Change of Control of CEC, then the qualifications, quality and experience of the management of Tenant, and the quality of the management and operation of the Facilities (taken as a whole with
the Joliet Facility) must in each case be generally consistent with or superior to that which existed prior to such Change of Control (it being agreed that Tenant shall give no less than thirty (30) days’ prior notice to Landlord of any
transaction or series of related transactions which would result in a Change of Control of CEC and Tenant shall furnish Landlord with such information and materials relating to the proposed transaction as Landlord may reasonably request in
connection with making its determination under this clause (iii) (to the extent in Tenant’s possession or reasonable control, and subject to customary and reasonable confidentiality restrictions in connection therewith), and if Landlord
determines that the quality of the management and operation of the Leased Property will not meet such requirement, then such determination shall be resolved pursuant to Section 34.2 (except, however, for this purpose, the fifteen
(15) day good faith negotiating period contemplated by Section 34.2 shall not apply)); 
 (iv) transfer any
direct or indirect interests in Tenant so long as a Change of Control does not result, provided Landlord shall be given prior written notice of any transfer of ten percent (10%) or more (in the aggregate) direct or indirect ownership interest in
Tenant of which transfer Tenant or CEC has actual knowledge other than any such transfer on a nationally recognized exchange; 

(v) transfer direct or indirect interests in CEC; provided, however, that in the event of a Change of Control of
CEC, the qualifications, quality and experience of the management of Tenant, and the quality of the management and operation of the Facilities (taken as a whole with the Joliet Facility) must in each case be generally consistent with or superior to
that which existed prior to such Change of Control (it being agreed that Tenant shall give no less than thirty (30) days’ prior notice to Landlord of any transaction or series of related transactions which would result in a Change of
Control of 

  
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CEC and Tenant shall furnish Landlord with such information and materials relating to the proposed transaction as Landlord may reasonably request in connection with making its determination under
this clause (v) (to the extent in Tenant’s possession or reasonable control, subject to customary and reasonable confidentiality restrictions in connection therewith), and if Landlord determines that the quality of the management and operation
of the Leased Property will not meet such requirement, then such determination shall be resolved pursuant to Section 34.2 (except, however, for this purpose, the fifteen (15) day good faith negotiating period contemplated by
Section 34.2 shall not apply)); and/or 
 (vi) transfer direct or indirect interests in Tenant or its direct or
indirect parent(s) in connection with a transfer of all of the assets (other than assets which in the aggregate are de minimis) of CEC; provided, that all requirements of Section 11.3.3 of the MLSA in connection with a Substantial
Transfer (as defined in the MLSA) of CEC shall have been complied with in all respects; provided, however, that CEC shall not be released from its obligations under the MLSA and the applicable transferee shall assume, jointly and
severally with CEC (in a form reasonably satisfactory to Landlord), all of CEC’s obligations under the MLSA. 
 In connection with any
transaction permitted pursuant to Section 22.2(i), the applicable Successor Foreclosure Tenant and Landlord shall make such amendments and other modifications to this Lease as are reasonably requested by either such party solely as needed to
give effect to such transaction and such technical amendments as may be reasonably necessary or appropriate in connection with such transaction including technical changes in the provisions of this Lease regarding delivery of Financial Statements
from Tenant and CEC to reflect the changed circumstances of Tenant, any interest holders in Tenant or Guarantor (provided, that, in all events, any such amendments or modifications shall not increase any Party’s obligations under
this Lease or diminish any Party’s rights under this Lease; provided, further, it is understood that delivery by any applicable Qualified Replacement Guarantor or parent of a replacement Tenant of Financial Statements and other reporting
consistent with the requirements of Article XXIII hereof shall not be deemed to increase Tenant’s obligations or decrease Tenant’s rights under this Lease). After giving effect to any such transaction, unless the context otherwise
requires, references to Tenant shall be deemed to refer to the Successor Foreclosure Tenant permitted under this Section 22.2. 

Notwithstanding anything otherwise contained in this Lease, Landlord and Tenant acknowledge that Landlord entered into this Lease with the
expectation that the Leased Property and the Other Leased Property would be under common management by the Manager pursuant to the MLSA and the Other MLSA, respectively. Accordingly, absent Landlord’s express written consent, no assignment or
other transfer shall be permitted under Section 22.2(i)(1)(A) or Section 22.2(i)(1)(B) unless, upon giving effect to such assignment or other transfer, (i) unless the Manager of the Leased Property or the manager of the Other
Leased Property has been terminated pursuant to a Termination for Cause under and as defined in the MLSA or applicable Other MLSA, the manager of the Leased Property is the same Person (or an Affiliate of such Person) that is then managing the Other
Leased Property, (ii) the Leased Property continues to be operated under the Property Specific IP, and (iii) so long as the Leased Property is managed by Manager or any other Affiliate of CEC, the Leased Property continues to be granted
access to the System-wide IP at least consistent with the access granted to the Leased Property prior to any such assignment or other transfer. 

  
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 Notwithstanding anything to the contrary herein, any transfer of Tenant’s interest in this
Lease or the Leasehold Estate shall be subject to compliance with all Gaming Regulations, including receipt of all applicable Gaming Licenses and shall not result in the loss or violation of any Gaming License for the Leased Property. 

22.3 Permitted Sublease Agreements. Notwithstanding the provisions of
Section 22.1, but subject to compliance with the provisions of this Section 22.3 and of Section 22.4 and Article XL, provided that no Tenant
Event of Default shall have occurred and be continuing, Tenant may enter into any Sublease (including sub-subleases, license agreements and other occupancy arrangements, but excluding any Sublease for all or
substantially all of the Leased Property) without the consent of Landlord, provided, that, (i) Tenant is not released from any of its obligations under this Lease, (ii) such Sublease is made for bona fide business purposes in the normal
course of the Primary Intended Use, and is not designed with the intent to avoid payment of Variable Rent or otherwise avoid any of the requirements or provisions of this Lease, (iii) such transaction is not designed with the intent to
frustrate Landlord’s ability to enter into a new Lease of the Leased Property with a third Person following the Expiration Date, (iv) such transaction shall not result in a violation of any Legal Requirements (including Gaming Regulations)
relating to the operation of the Facility, including any Gaming Facilities, (v) any Sublease of all or substantially all of any Facility shall be subject to the consent of Landlord and the applicable Fee Mortgagee, and (vi) the Subtenant
and any other Affiliates shall have obtained all necessary Gaming Licenses as required under applicable Legal Requirements (including Gaming Regulations) in connection with such Sublease; provided, further, that, notwithstanding anything otherwise
set forth herein, the following are expressly permitted without such consent: (A) the Specified Subleases and any renewals or extensions in accordance with their terms, respectively, or non-material
modifications thereto and (B) any Subleases to Affiliates of Tenant that are necessary or appropriate for the operation of the Facility, including any Gaming Facilities, in connection with licensing requirements (e.g., gaming, liquor, etc.)
(provided the same are expressly subject and subordinate to this Lease); provided, further, however, that, notwithstanding anything otherwise set forth herein, the portion(s) of the Leased Property subject to any Subleases (other than the Specified
Subleases and other than Subleases to Affiliates of CEC) shall not be used for Gaming purposes or other core functions or spaces at any Facility (e.g., hotel room areas) (and any such Subleases to persons that are not Affiliates of CEC in respect of
Leased Property used or to be used in whole or in part for Gaming purposes or other core functions or spaces (e.g., hotel room areas) shall be subject to Landlord’s prior written consent not to be unreasonably withheld). If reasonably requested
by Tenant in respect of a Subtenant (including any sub-sublessee, as applicable) permitted hereunder that is neither a Subsidiary nor an Affiliate of Tenant or Guarantor, with respect to a Material Sublease,
Landlord and any such Subtenant (or sub-sublessee, as applicable) shall enter into a subordination, non-disturbance and attornment agreement with respect to such
Material Sublease in a form reasonably satisfactory to Landlord, Tenant and the applicable Subtenant (or sub-sublessee, as applicable) (and if a Fee Mortgage is then in effect, Landlord shall use reasonable
efforts to seek to cause the Fee Mortgagee to enter into a subordination, non-disturbance and attornment agreement substantially in the form customarily entered into by such Fee Mortgagee at the time of
request with similar subtenants (subject to adjustments and modifications arising out of the 

  
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specific nature and terms of this Lease and/or the applicable Sublease)). After a Tenant Event of Default has occurred and while it is continuing, Landlord may collect rents from any Subtenant
and apply the net amount collected to the Rent, but no such collection shall be deemed (A) a waiver by Landlord of any of the provisions of this Lease, (B) the acceptance by Landlord of such Subtenant as a tenant or (C) a release of
Tenant from the future performance of its obligations hereunder. Notwithstanding anything otherwise set forth herein, Landlord shall have no obligation to enter into a subordination, non-disturbance and
attornment agreement with any Subtenant with respect to a Sublease, (1) the term of which extends beyond the then Stated Expiration of this Lease, unless the applicable Sublease is on commercially reasonable terms at the time in question taking
into consideration, among other things, the identity of the Subtenant, the extent of the Subtenant’s investment into the subleased space, the term of such Sublease and Landlord’s interest in such space (including the resulting impact on
Landlord’s ability to lease any Facility on commercially reasonable terms after the Term of this Lease) or (2) that constitutes a management arrangement. Tenant shall furnish Landlord with a copy of each Material Sublease that Tenant
enters into promptly following the making thereof (irrespective of whether Landlord’s prior approval was required therefor). In addition, promptly following Landlord’s request therefor, Tenant shall furnish to Landlord (to the extent in
Tenant’s possession or under Tenant’s reasonable control) copies of all other Subleases with respect to any Facility specified by Landlord. Without limitation of the foregoing, Tenant acknowledges it has furnished to Landlord a
subordination agreement of even date herewith that is binding on all Subtenants that are Subsidiaries or Affiliates of Tenant or Guarantor, pursuant to which subordination agreement, among other things, all such Subtenants have subordinated their
respective Subleases to this Lease and all of the provisions, terms and conditions hereof. Further, Tenant hereby represents and warrants to Landlord that as of the effective date of the Lease, there exists no Sublease other than the Specified
Subleases. 
 22.4 Required Subletting and Assignment Provisions. Any Sublease permitted hereunder
and entered into after the Commencement Date must provide that: 
 (i) the use of the Leased Property (or portion thereof)
thereunder shall not conflict with any Legal Requirement or any other provision of this Lease; 
 (ii) in the case of a
Sublease, in the event of cancellation or termination of this Lease for any reason whatsoever or of the surrender of this Lease (whether voluntary, involuntary or by operation of law) prior to the expiration date of such Sublease, including
extensions and renewals granted thereunder without replacement of this Lease by a New Lease pursuant to Section 17.1(f), then, subject to Article XXXVI, (a) upon the request of Landlord (in Landlord’s discretion), the
Subtenant shall make full and complete attornment to Landlord for the balance of the term of the Sublease, which attornment shall be evidenced by an agreement in form and substance reasonably satisfactory to Landlord and which the Subtenant shall
execute and deliver within five (5) days after request by Landlord and the Subtenant shall waive the provisions of any law now or hereafter in effect which may give the Subtenant any right of election to terminate the Sublease or to surrender
possession in the event any proceeding is brought by Landlord to terminate this Lease and (b) to the extent such Subtenant (and each subsequent subtenant separately permitted hereunder) is required to attorn to Landlord pursuant to subclause
(a) above, the aforementioned attornment 

  
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agreement shall recognize the right of the subtenant (and such subsequent subtenant) under the applicable Sublease and contain commercially reasonable, customary
non-disturbance provisions for the benefit of such subtenant, so long as such Subtenant is not in default thereunder; and 

(iii) in the case of a Sublease, in the event the Subtenant receives a written notice from Landlord stating that this Lease has
been cancelled, surrendered or terminated and not replaced by a New Lease pursuant to Section 17.1(f), then the Subtenant shall thereafter be obligated to pay all rentals accruing under said Sublease directly to Landlord (or as Landlord shall
so direct); all rentals received from the Subtenant by Landlord shall be credited against the amounts owing by Tenant under this Lease. 

(iv) in the case of a Sublease (other than the Specified Subleases), it shall be subject and subordinate to all of the terms
and conditions of this Lease (subject to the terms of any applicable subordination, non-disturbance agreement made pursuant to Section 22.3); 

(v) no Subtenant shall be permitted to further sublet all or any part of the applicable Leased Property or assign its Sublease
except insofar as the same would be permitted if it were a Sublease by Tenant under this Lease (it being understood that any Subtenant under Section 22.3 may pledge and mortgage its subleasehold estate (or allow the pledge of its equity
interests) to its lenders or noteholders; and 
 (vi) in the case of a Sublease, the Subtenant thereunder will, upon request,
furnish to Landlord and each Fee Mortgagee an estoppel certificate of the same type and kind as is required of Tenant pursuant to Section 23.1(a) hereof (as if such Sublease was this Lease). 

Any assignment of the Leased Property permitted hereunder and entered into after the Commencement Date must provide that all of Tenant’s rights in, to
and under Property Specific IP and Property Specific Guest Data and, in the case of an assignment where the Leased Property continues to be managed by Manager or any other Affiliate of CEC, System-wide IP, shall also be assigned to the applicable
assignee, in each case, to the fullest extent applicable. 
 Any assignment, transfer or Sublease under this Article XXII shall be subject to all
applicable Legal Requirements, including any Gaming Regulations, and no such assignment, transfer or Sublease shall be effective until any applicable approvals with respect to Gaming Regulations, if applicable, are obtained. 

22.5 Costs. Tenant shall reimburse Landlord for Landlord’s reasonable out-of-pocket costs and expenses actually incurred in conjunction with the processing and documentation of any assignment, subletting or management arrangement (including in
connection with any request for a subordination, non-disturbance and attornment agreement), including reasonable documented attorneys’, architects’, engineers’ or other consultants’ fees
whether or not such Sublease, assignment or management agreement is actually consummated. 

  
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 22.6 No Release of Tenant’s Obligations;
Exception. No assignment, subletting or management agreement shall relieve Tenant of its obligation to pay the Rent and to perform all of the other obligations to be performed by Tenant hereunder. The liability of Tenant
and any immediate and remote successor in interest of Tenant (by assignment or otherwise), and the due performance of the obligations of this Lease on Tenant’s part to be performed or observed, shall not in any way be discharged, released or
impaired by any (i) stipulation which extends the time within which an obligation under this Lease is to be performed, (ii) waiver of the performance of an obligation required under this Lease that is not entered into by Landlord in a
writing executed by Landlord and expressly stated to be for the benefit of Tenant or such successor, or (iii) failure to enforce any of the obligations set forth in this Lease provided that Tenant shall not be responsible for any
additional obligations or liability arising as the result of any modification or amendment of this Lease by Landlord and any assignee of Tenant that is not an Affiliate of Tenant. 

22.7 Bookings. Tenant may enter into any Bookings that do not cover periods after the expiration of
the term of this Lease without the consent of Landlord. Tenant may enter into any Bookings that cover periods after the expiration of the term of this Lease without the consent of Landlord, provided, that, (i) such transaction is in each case
made for bona fide business purposes in the normal course of the Primary Intended Use; (ii) such transaction shall not result in a violation of any Legal Requirements (including Gaming Regulations) relating to the operation of any Facility,
including any Gaming Facilities, (iii) such Bookings are on commercially reasonable terms at the time entered into; and (iv) such transaction is not designed with the intent to frustrate Landlord’s ability to enter into a new lease of
the Leased Property or any portion thereof with a third person following the Expiration Date; provided, further, that, notwithstanding anything otherwise set forth herein, any such Bookings in effect as of the Commencement Date are expressly
permitted without such consent. Landlord hereby agrees that in the event of a termination or expiration of this Lease, Landlord hereby recognizes and shall keep in effect such Booking on the terms agreed to by Tenant with such Person and shall not
disturb such Person’s rights to occupy such portion of the Leased Property in accordance with the terms of such Booking. 
 22.8
Merger of CEOC. The Parties acknowledge that, immediately following the execution of this Lease, Caesars Entertainment Operating Company, Inc., a Delaware corporation, will merge into CEOC, LLC. Notwithstanding anything herein to the
contrary, Landlord consents to such merger. 
 ARTICLE XXIII 

REPORTING 
 23.1
Estoppel Certificates and Financial Statements. 
 (a) Estoppel Certificate. Each of Landlord and Tenant shall, at any
time and from time to time upon receipt of not less than ten (10) Business Days’ prior written request from the other Party, furnish a certificate (an “Estoppel Certificate”) certifying (i) that this Lease is
unmodified and in full force and effect, or that this Lease is in full force and effect and, if applicable, setting forth any modifications; (ii) the Rent and Additional Charges payable 

  
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hereunder and the dates to which the Rent and Additional Charges payable have been paid; (iii) that the address for notices to be sent to the Party furnishing such Estoppel Certificate is as
set forth in this Lease (or, if such address for notices has changed, the correct address for notices to such party); (iv) whether or not, to its actual knowledge, such Party or the other Party is in default in the performance of any covenant,
agreement or condition contained in this Lease (together with back-up calculation and information reasonably necessary to support such determination) and, if so, specifying each such default of which such
Party may have knowledge; (v) that Tenant is in possession of the Leased Property; and (vi) responses to such other questions or statements of fact as such other Party may reasonably request. Any such Estoppel Certificate may be relied
upon by the receiving Party and any current or prospective Fee Mortgagee (and their successors and assigns), Permitted Leasehold Mortgagee, or purchaser of the Leased Property, as applicable. 

(b) Statements. Tenant shall furnish or cause to be furnished the following to Landlord: 

(i) On or before twenty-five (25) days after the end of each calendar month the following items as they pertain to each
SPE Tenant: (A) an occupancy report for the subject month, including an average daily rate and revenue per available room for the subject month; (B) monthly and
year-to-date operating statements prepared for each calendar month, noting gross revenue, net revenue, operating expenses and operating income (not including any
contributions to any FF&E Reserve), and other information reasonably necessary and sufficient to fairly represent the financial position and results of operations of each SPE Tenant during such calendar month, and containing a comparison of
budgeted income and expenses and the actual income and expenses, and (C) PACE reports (but only for the SPE Tenants associated with the current Harrah’s Lake Tahoe, Harvey’s Lake Tahoe, Caesars Atlantic City and Bally’s Atlantic
City and Schiff Parcel property locations as set forth in Exhibit A), in the form attached hereto as Exhibit I. 

(ii) As to CEOC: 

(a) annual financial statements audited by CEOC’s Accountant in accordance with GAAP covering such Fiscal Year and
containing statement of profit and loss, a balance sheet, and statement of cash flows for CEOC, together with (1) a report thereon by such Accountant which report shall be unqualified as to scope of audit of CEOC and its Subsidiaries and shall
provide in substance that (A) such Financial Statements present fairly the consolidated financial position of CEOC and its Subsidiaries as at the dates indicated and the results of their operations and cash flow for the periods indicated in
conformity with GAAP and (B) that the audit by such Accountant in connection with such Financial Statements has been made in accordance with GAAP and (2) a certificate, executed by the chief financial officer or treasurer of CEOC
certifying that no Tenant Event of Default has occurred or, if a Tenant Event of Default has occurred, specifying the nature and extent thereof and any corrective action taken or proposed to be taken with respect thereto, all of which shall be
provided within ninety (90) days after the end of each Fiscal Year (commencing with the Fiscal Year ending December 31, 2017); 

  
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 (b) quarterly unaudited financial statements, consisting of a statement of profit
and loss, a balance sheet, and statement of cash flows for CEOC, together with a certificate, executed by the chief financial officer or treasurer of CEOC (A) certifying that no Tenant Event of Default has occurred or, if a Tenant Event of
Default has occurred, specifying the nature and extent thereof and any corrective action taken or proposed to be taken with respect thereto, and (B) certifying that such Financial Statements fairly present, in all material respects, the
financial position and results of operations of CEOC and its Subsidiaries on a consolidated basis in accordance with GAAP (subject to normal year-end audit adjustments and the absence of footnotes), all of
which shall be provided (x) within sixty (60) days after the end of each of the first three Fiscal Quarters of each Fiscal Year (commencing with the Fiscal Quarter ending March 31, 2018); and 

(c) such additional information and unaudited quarterly financial information concerning the Leased Property and Tenant, which
information shall be limited to balance sheets, income statements, and statements of cash flow, as Landlord, PropCo 1, PropCo or Landlord REIT may require for any ongoing filings with or reports to (i) the SEC under both the Securities Act and
the Exchange Act, including, but not limited to 10-Q Quarterly Reports, 10-K Annual Reports and registration statements to be filed by Landlord, PropCo 1, PropCo or
Landlord REIT during the Term of this Lease, (ii) the Internal Revenue Service (including in respect of Landlord REIT’s qualification as a “real estate investment trust” (within the meaning of Section 856(a) of the Code)) and
(iii) any other federal, state or local regulatory agency with jurisdiction over Landlord, PropCo 1, PropCo or Landlord REIT, in each case of clause (i), (ii) and (iii), subject to Section 23.1(c) below. 

(iii) As to CEC: 

(a) annual financial statements audited by CEC’s Accountant in accordance with GAAP covering such Fiscal Year and
containing statement of profit and loss, a balance sheet, and statement of cash flows for CEC, including the report thereon by such Accountant which shall be unqualified as to scope of audit of CEC and its Subsidiaries and shall provide in substance
that (a) such consolidated financial statements present fairly the consolidated financial position of CEC and its Subsidiaries as at the dates indicated and the results of their operations and cash flow for the periods indicated in conformity
with GAAP and (b) that the audit by CEC’s Accountant in connection with such Financial Statements has been made in accordance with GAAP, which shall be provided within ninety (90) days after the end of each Fiscal Year (commencing
with the Fiscal Year ending December 31, 2017); 
 (b) quarterly unaudited financial statements, consisting of a
statement of profit and loss, a balance sheet, and statement of cash flows for CEC, together with a certificate, executed by the chief financial officer or treasurer of CEC certifying that such Financial Statements fairly present, in all material

  
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respects, the financial position and results of operations of CEC and its Subsidiaries on a consolidated basis in accordance with GAAP (subject to normal
year-end audit adjustments and the absence of footnotes) which shall be provided within sixty (60) days after the end of each of the first three Fiscal Quarters of each Fiscal Year (commencing with the
Fiscal Quarter ending September 30, 2017); 
 (c) such additional information and unaudited quarterly financial
information concerning the Leased Property and Tenant, which information shall be limited to balance sheets, income statements, and statements of cash flow, as Landlord, PropCo 1, PropCo or Landlord REIT may require for any ongoing filings with or
reports to (i) the SEC under both the Securities Act and the Exchange Act, including, but not limited to 10-Q Quarterly Reports, 10-K Annual Reports and
registration statements to be filed by Landlord, PropCo 1, PropCo or Landlord REIT during the Term of this Lease, (ii) the Internal Revenue Service (including in respect of Landlord REIT’s qualification as a “real estate investment
trust” (within the meaning of Section 856(a) of the Code)) and (iii) any other federal, state or local regulatory agency with jurisdiction over Landlord, PropCo 1, PropCo or Landlord REIT subject to Section 23.1(c) below; 

(iv) As soon as it is prepared and in no event later than sixty (60) days after the end of each Fiscal Year, a statement
of Net Revenue with respect to each Facility with respect to the prior Lease Year (subject to the additional requirements as provided in Section 3.2 hereof in respect of the periodic determination of the Variable Rent hereunder); 

(v) Prompt Notice to Landlord of any action, proposal or investigation by any agency or entity, or complaint to such agency or
entity (any of which is called a “Proceeding”), known to Tenant, the result of which Proceeding would reasonably be expected to be to revoke or suspend or terminate or modify in a way adverse to Tenant, or fail to renew or fully
continue in effect, (x) any Gaming License, or (y) any other license or certificate or operating authority pursuant to which Tenant carries on any part of the Primary Intended Use of all or any portion of the Leased Property which, in any
case under this clause (y) (individually or collectively), would be reasonably expected to cause a material adverse effect on Tenant or in respect of each Facility (and, without limitation, Tenant shall (A) keep Landlord apprised of
(1) the status of any annual or other periodic Gaming License renewals, and (2) the status of non-routine matters before any applicable gaming authorities, and (B) promptly deliver to Landlord
copies of any and all non-routine notices received (or sent) by Tenant (or Manager) from (or to) any Gaming Authorities); 

(vi) Within ten (10) Business Days after the end of each calendar month, a schedule containing any additions to or
retirements of any fixed assets constituting Leased Property, describing such assets in summary form, their location, historical cost, the amount of depreciation and any improvements thereto, substantially in the form attached hereto as Exhibit
D, and such additional customary and reasonable financial information with respect to such fixed assets constituting Leased Property as is 

  
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reasonably requested by Landlord, it being understood that Tenant may classify any asset additions in accordance with the fixed asset methodology for propco-opco separation used as of the
Commencement Date; 
 (vii) Within three (3) Business Days of obtaining actual knowledge of the occurrence of a Tenant
Event of Default (or of the occurrence of any facts or circumstances which, with the giving of notice or the passage of time would ripen into a Tenant Event of Default and that (individually or collectively would be reasonably expected to result in
a material adverse effect on Tenant or in respect of each Facility), a written notice to Landlord regarding the same, which notice shall include a detailed description of the Tenant Event of Default (or such facts or circumstances) and the actions
Tenant has taken or shall take, if any, to remedy such Tenant Event of Default (or such facts or circumstances); 
 (viii)
Such additional customary and reasonable financial information related to the Facility, Tenant, CEOC, CEC and their Affiliates which shall be limited to balance sheets and income statements, as may be required by any Fee Mortgagee as an Additional
Fee Mortgagee Requirement hereunder to the extent required by Section 31.3 (and, without limitation, all information concerning Tenant, CEOC, CEC and any of their Affiliates, respectively, or the Facility or the business of Tenant conducted
thereat required pursuant to the Fee Mortgage Documents, within the applicable timeframes required thereunder); 
 (ix) The
compliance certificates, as and when required pursuant to Section 4.3; and 
 (x) The Annual Capital Budget as
and when required in Section 10.5. 
 (xi) The monthly revenue and Capital Expenditure reporting required
pursuant to Section 10.5(b); 
 (xii) Together with the monthly reporting required pursuant to the preceding clause
(xi), an updated rent roll and a summary of all leasing activity then taking place at each Facility; 
 (xiii) Operating
budget for each SPE Tenant for each Fiscal Year, which shall be delivered to Landlord no later than fifty-five (55) days following the commencement of the Fiscal Year to which such operating budget relates; 

(xiv) Within five (5) Business Days after request (or as soon thereafter as may be reasonably possible), such further
detailed information reasonably available to Tenant with respect to each SPE Tenant as may be reasonably requested by Landlord; 

(xv) The quarterly reporting in respect of Bookings required pursuant to Section 22.7 of this Lease; 

(xvi) The reporting/copies of Subleases made by Tenant in accordance with Section 22.3; 

 

  
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 (xvii) Any notices or reporting required pursuant to Article XXXII hereof
or otherwise pursuant to any other provision of this Lease; and 
 (xviii) The monthly reporting required pursuant to
Section 4.1 hereof. 
 The Financial Statements provided pursuant to Section 23.1(b)(iii) shall be prepared in compliance with applicable
federal securities laws, including Regulation S-X (and for any prior periods required thereunder), if and to the extent such compliance with federal securities laws, including Regulation S-X (and for any prior periods required thereunder), is required to enable Landlord, PropCo 1, PropCo or Landlord REIT to (x) file such Financial Statements with the SEC if and to the extent that Landlord,
PropCo 1, PropCo or Landlord REIT is required to file such Financial Statements with the SEC pursuant to Legal Requirements or (y) include such Financial Statements in an offering document if and to the extent that Landlord, PropCo 1, PropCo or
Landlord REIT is reasonably requested or required to include such Financial Statements in any offering document in connection with a financing contemplated by and to the extent required by Section 23.2(b). 

(c) Notwithstanding the foregoing, Tenant shall not be obligated (1) to provide information or assistance that would give Landlord or its
Affiliates a “competitive” advantage with respect to markets in which Landlord REIT and Tenant or CEC might be competing at any time (it being understood that Landlord shall retain audit rights with respect to such information to the
extent required to confirm Tenant’s compliance with the terms of this Lease (and Landlord, PropCo 1, PropCo or Landlord REIT shall be permitted to comply with Securities Exchange Commission, Internal Revenue Service and other legal and
regulatory requirements with regard to such information) and provided that appropriate measures are in place to ensure that only Landlord’s auditors and attorneys (and not Landlord or Landlord REIT or any other direct or indirect parent company
of Landlord) are provided access to such information) or (2) to provide information that is subject to the quality assurance immunity or is subject to attorney-client privilege or the attorney work product doctrine. 

(d) For purposes of this Section 23.1, the terms “CEC”, “CEOC”, “PropCo 1”,
“PropCo” and “Landlord REIT” shall mean, in each instance, each of such parties and their respective successors and permitted assigns. 

23.2 SEC Filings; Offering Information. 

(a) Tenant specifically agrees that Landlord, PropCo 1, PropCo or Landlord REIT may file with the SEC or incorporate by reference the
Financial Statements referred to in Section 23.1(b)(ii) and (iii) (and Financial Statements referred to in Section 23.1(b)(ii) and (iii) for any prior annual or quarterly periods as required by any Legal
Requirements) in Landlord’s, PropCo 1’s PropCo’s or Landlord REIT’s filings made under the Securities Act or the Exchange Act to the extent it is required to do so pursuant to Legal Requirements. In addition, Landlord, PropCo 1,
PropCo or Landlord REIT may include, cross-reference or incorporate by reference the Financial Statements (and for any prior annual or quarterly periods as required by any Legal Requirements) and other financial information and such information
concerning the operation of the Leased Property (1) which is publicly available or (2) the inclusion of which is approved by Tenant in writing, which approval may not be unreasonably withheld, conditioned or delayed, in

  
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offering memoranda or prospectuses or confidential information memoranda, or similar publications or marketing materials, rating agency presentations, investor presentations or disclosure
documents in connection with syndications, private placements or public offerings of Landlord’s, PropCo 1’s, PropCo’s or Landlord REIT’s securities or loans. Unless otherwise agreed by Tenant, neither Landlord, PropCo 1, PropCo
nor Landlord REIT shall revise or change the wording of information previously publicly disclosed by Tenant and furnished to Landlord, PropCo 1, PropCo or Landlord REIT pursuant to Section 23 or this
Section 23.2, and Landlord’s, PropCo 1’s PropCo’s or Landlord REIT’s Form 10-Q or Form 10-K (or amendment or supplemental
report filed in connection therewith) shall not disclose the operational results of the Leased Property prior to CEC’s, Tenant’s or its Affiliate’s public disclosure thereof so long as CEC, Tenant or such Affiliate reports such
information in a timely manner in compliance with the reporting requirements of the Exchange Act, in any event, no later than ninety (90) days after the end of each Fiscal Year. Landlord agrees to use commercially reasonable efforts to provide
a copy of the portion of any public disclosure containing the Financial Statements, or any cross-reference thereto or incorporation by reference thereof (other than cross-references to or incorporation by reference of Financial Statements that were
previously publicly filed), or any other financial information or other information concerning the operation of the Leased Property received by Landlord under this Lease, at least two (2) Business Days in advance of any such public disclosure.

 (b) Tenant understands that, from time to time, Landlord, PropCo 1, PropCo or Landlord REIT may conduct one or more financings, which
financings may involve the participation of placement agents, underwriters, initial purchasers or other persons deemed underwriters under applicable securities law. In connection with any such financings, Tenant shall, upon the request of Landlord,
use commercially reasonable efforts to furnish to Landlord, to the extent reasonably requested or required in connection with any such financings, the information referred to in Section 23.1(b), as applicable and in each case including for
any prior annual or quarterly periods as required by any Legal Requirements, as promptly as reasonably practicable after the request therefor (taking into account, among other things, the timing of any such request and any Legal Requirements
applicable to Tenant, CEOC or CEC at such time). In addition, Tenant shall, upon the request of Landlord, use commercially reasonable efforts to provide Landlord and its Representatives with such management representation letters, comfort letters
and consents of applicable certified independent auditors to the inclusion of their reports in applicable financing disclosure documents as may be reasonably requested or required in connection with the sale or registration of securities by
Landlord, PropCo 1, PropCo or Landlord REIT. Landlord shall reimburse Tenant, CEOC and CEC, their respective Subsidiaries and their respective Representatives as promptly as reasonably practicable after the request therefor, for any reasonable and
actual, documented expenses incurred in connection with any cooperation provided pursuant to this Section 23.2(b) (and, unless any non-compliance with this Lease to more than a de
minimis extent is revealed, any exercise by Landlord of audit rights pursuant to Section 23.1(c)) (including, without limitation, reasonable and documented fees and expenses of accountants and attorneys, but excluding, for the avoidance of
doubt, any such fees and expenses incurred in the preparation of the Financial Statements). In addition, Landlord shall indemnify and hold harmless Tenant, CEOC and CEC, their respective Subsidiaries and their respective Representatives from and
against any and all liabilities, losses, damages, claims, costs, expenses, interest, awards, judgments and penalties suffered or incurred by them (collectively, “Losses”) in connection with any cooperation provided pursuant to this
Section 23.2(b), except to the extent 

  
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(i) such Losses were suffered or incurred as a result of the bad faith, gross negligence or willful misconduct of any such indemnified person or (ii) such Losses were caused by any
untrue statement or alleged untrue statement of a material fact contained in any Financial Statements delivered by Tenant to Landlord hereunder, or caused by any omission or alleged omission to state therein a material fact necessary to make the
statements therein in the light of the circumstances under which they were made not misleading. 
 23.3 Landlord Obligations

 (a) Landlord agrees that, upon request of Tenant, it shall from time to time provide such information as may be reasonably requested by
Tenant with respect to Landlord’s, PropCo 1’s, PropCo’s and Landlord REIT’s capital structure and/or any financing secured by this Lease or the Leased Property in connection with Tenant’s review of the treatment of this
Lease under GAAP. 
 (b) Landlord further understands and agrees that, from time to time, Tenant, CEOC, CEC or their respective Affiliates
may conduct one or more financings, which financings may involve the participation of placement agents, underwriters, initial purchasers or other persons deemed underwriters under applicable securities law. In connection with any such financings,
Landlord shall, upon the request of Tenant, use commercially reasonable efforts to furnish to Tenant, to the extent reasonably requested or required in connection with any such financings, the Financial Statements (and for any prior annual or
quarterly periods as required by any Legal Requirements), other financial information and cooperation as promptly as reasonably practicable after the request therefor (taking into account, among other things, the timing of any such request and any
Legal Requirements applicable to Landlord, PropCo 1, PropCo or Landlord REIT at such time). In addition, Landlord shall, upon the request of Tenant, use commercially reasonable efforts to provide Tenant and its Representatives with such
management representation letters, comfort letters and consents of applicable certified independent auditors to the inclusion of their reports in applicable financing disclosure documents as may be reasonably requested or required in connection with
the sale or registration of securities by Tenant, CEOC, CEC or any of their respective Affiliates. Tenant shall reimburse Landlord, PropCo 1, PropCo, Landlord REIT, their respective Subsidiaries and their respective Representatives as promptly
as reasonably practicable after the request therefor, for any reasonable and actual, documented expenses incurred in connection with any cooperation provided pursuant to this Section 23.3(b) (including, in each case,
without limitation, reasonable and documented fees and expenses of accountants and attorneys and allocated costs of internal employees but excluding, for the avoidance of doubt, any such fees, expenses and allocated costs incurred in the preparation
of the Financial Statements). In addition, Tenant shall indemnify and hold harmless Landlord, PropCo 1, PropCo, Landlord REIT, their respective Subsidiaries and their respective Representatives from and against any and all Losses in connection
with any cooperation provided pursuant to this Section 23.3(b), except to the extent (i) such Losses were suffered or incurred as a result of the bad faith, gross negligence or willful misconduct of any such
indemnified person or (ii) such Losses were caused by any untrue statement or alleged untrue statement of a material fact contained in any Financial Statements delivered by Landlord to Tenant hereunder, or caused by any omission or alleged
omission to state therein a material fact necessary to make the statements therein in the light of the circumstances under which they were made not misleading. 

  
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 (c) The Financial Statements provided pursuant to Section 23.3(b) shall be prepared in
compliance with applicable federal securities laws, including Regulation S-X (and for any prior periods required thereunder), if and to the extent such compliance with federal securities laws, including
Regulation S-X (and for any prior periods required thereunder), is required to enable Tenant, CEOC or CEC or their respective Affiliates to (x) file such Financial Statements with the SEC if and to the
extent that Tenant, CEOC or CEC is required to file such Financial Statements with the SEC pursuant to Legal Requirements or (y) include such Financial Statements in an offering document if and to the extent that Tenant, CEOC or CEC or their
respective affiliates is reasonably requested or required to include such Financial Statements in any offering document in connection with a financing contemplated by and to the extent required by Section 23.3(b). 

ARTICLE XXIV 

LANDLORD’S RIGHT TO INSPECT 

Upon reasonable advance written notice to Tenant, Tenant shall permit Landlord and its authorized representatives (including any Fee Mortgagee
and its representatives) to inspect the Leased Property or any portion thereof during reasonable times (or at such time and with such notice as shall be reasonable in the case of an emergency) (and Tenant shall be permitted to have any such
representatives of Landlord accompanied by a representative of Tenant). Landlord shall take reasonable care to minimize disturbance of the operations on the applicable portion of the Leased Property. 

ARTICLE XXV 
 NO WAIVER

 No delay, omission or failure by Landlord to insist upon the strict performance of any term hereof or to exercise any right, power or
remedy hereunder and no acceptance of full or partial payment of Rent during the continuance of any default or Tenant Event of Default shall impair any such right or constitute a waiver of any such breach or of any such term. No waiver of any breach
shall affect or alter this Lease, which shall continue in full force and effect with respect to any other then existing or subsequent breach. 

ARTICLE XXVI 
 REMEDIES
CUMULATIVE 
 To the extent permitted by law, each legal, equitable or contractual right, power and remedy of Landlord now or hereafter
provided either in this Lease or by statute or otherwise shall be cumulative and concurrent and shall be in addition to every other right, power and remedy and the exercise or beginning of the exercise by Landlord of any one or more of such rights,
powers and remedies shall not preclude the simultaneous or subsequent exercise by Landlord of any or all of such other rights, powers and remedies. 

  
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 ARTICLE XXVII 

ACCEPTANCE OF SURRENDER 

No surrender to Landlord of this Lease or of the Leased Property or any part thereof, or of any interest therein, shall be valid or effective
unless agreed to and accepted in writing by Landlord, and no act by Landlord or any representative or agent of Landlord, other than such a written acceptance by Landlord, shall constitute an acceptance of any such surrender. 

ARTICLE XXVIII 
 NO
MERGER 
 There shall be no merger of this Lease or of the Leasehold Estate created hereby by reason of the fact that the same Person
may acquire, own or hold, directly or indirectly, (i) this Lease or the Leasehold Estate created hereby or any interest in this Lease or such Leasehold Estate and (ii) the fee estate in the Leased Property or any portion thereof. If
Landlord or any Affiliate of Landlord shall purchase any fee or other interest in the Leased Property or any portion thereof that is superior to the interest of Landlord, then the estate of Landlord and such superior interest shall not merge. 

ARTICLE XXIX 

INTENTIONALLY OMITTED 

ARTICLE XXX 
 QUIET
ENJOYMENT 
 So long as no Tenant Event of Default shall have occurred and be continuing, Tenant shall peaceably and quietly have, hold
and enjoy the Leased Property for the Term, free of any claim or other action by Landlord or anyone claiming by, through or under Landlord, but subject (i) to the provisions, terms and conditions of this Lease, and (ii) to all liens and
encumbrances existing as of the Commencement Date, or thereafter as provided for in this Lease or consented to by Tenant. No failure by Landlord to comply with the foregoing covenant shall give Tenant any right to cancel or terminate this Lease or
abate, reduce or make a deduction from or offset against the Rent or any other sum payable under this Lease, or to fail to perform any other obligation of Tenant hereunder. Notwithstanding the foregoing, Tenant shall have the right, by separate and
independent action to pursue any claim it may have against Landlord as a result of a breach by Landlord of the covenant of quiet enjoyment contained in this Article XXX. 

ARTICLE XXXI 
 LANDLORD
FINANCING 
 31.1 Landlord’s Financing. 

  
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 (a) Without the consent of Tenant (but subject to the remainder of this
Section 31.1), Landlord may from time to time, directly or indirectly, create or otherwise cause to exist any Fee Mortgage upon (i) all of the Leased Property (other than de minimis portions thereof that are not
capable of being assigned or transferred) or (ii) all of the Leased Property in respect of any individual Facility (or Facilities) (other than de minimis portions thereof that are not capable of being assigned or transferred) (or upon interests
in Landlord which are pledged pursuant to a mezzanine loan or similar financing arrangement). Except with respect to any financing that is not secured by any of Landlord’s assets and with respect to which Landlord is not an obligor, Landlord
shall cause all Fee Mortgagees to execute a joinder to the Intercreditor Agreement in a form reasonably acceptable to all parties thereto. This Lease is and at all times shall be subordinate to any Existing Fee Mortgage and any other Fee
Mortgage which may hereafter affect the Leased Property or any portion thereof or interest therein and in each case to all renewals, modifications, consolidations, replacements, restatements and extensions thereof or any parts or portions thereof;
provided, however, that the subordination of this Lease and Tenant’s leasehold interest hereunder to any new Fee Mortgage hereafter made, shall be conditioned upon the execution and delivery to Tenant by the respective Fee
Mortgagee of a commercially reasonable subordination, nondisturbance and attornment agreement, which will bind Tenant and such Fee Mortgagee and its successors and assigns as well as any person who acquires any portion of the Leased Property in a
foreclosure or similar proceeding or in a transfer in lieu of any such foreclosure or a successor owner of the Leased Property (each, a “Foreclosure Purchaser”) and which shall provide, among other things, that so long as there is
no outstanding and continuing Tenant Event of Default under this Lease (or, if there is a continuing Tenant Event of Default, subject to the rights granted to a Permitted Leasehold Mortgagee as expressly set forth in this Lease), the holder of such
Fee Mortgage, and any Foreclosure Purchaser shall not disturb Tenant’s leasehold interest or possession of the Leased Property, subject to and in accordance with the terms hereof, and shall give effect to this Lease, including, but not limited
to, the provisions of Article XVII which benefit any Permitted Leasehold Mortgagee (as if such Fee Mortgagee or Foreclosure Purchaser were the landlord under this Lease (it being understood that if a Tenant Event of Default has occurred and
is continuing at such time, such parties shall be subject to the terms and provisions hereof concerning the exercise of rights and remedies upon such Tenant Event of Default including the provisions of Articles XVI, XVII and
XXVI)). In connection with the foregoing and at the request of Landlord, Tenant shall promptly execute a subordination, nondisturbance and attornment agreement that contains commercially reasonable provisions, terms and conditions, in all
events complying with this Section 31.1 (it being understood that a subordination, non-disturbance and attornment agreement substantially in the form, if any, executed by Tenant and
the Fee Mortgagee in connection with the Existing Fee Mortgage financing as of the Commencement Date shall be deemed to satisfy this Section). In connection with any subsequent Fee Mortgage, as a condition to the Fee Mortgagee holding any of the Fee
Mortgage Reserve Accounts, Tenant and such Fee Mortgagee shall have entered into a subordination, nondisturbance and attornment agreement as provided in this Section 31.1(a). 

(b) If, in connection with obtaining any Fee Mortgage or entering into any agreement relating thereto, Landlord shall request in writing
(i) reasonable cooperation from Tenant or (ii) reasonable amendments or modifications to this Lease, in each case required to comply with any reasonable request made by Fee Mortgagee, Tenant shall reasonably cooperate with such request, so
long as (I) no default in any material respect by Landlord beyond applicable cure periods is continuing, (II) all reasonable documented out-of-pocket costs and

  
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expenses incurred by Tenant in connection with such cooperation, including, but not limited to, its reasonable documented attorneys’ fees, shall be paid by Landlord and (III) any
requested action, including any amendments or modification of this Lease, shall not (a) increase Tenant’s monetary obligations under this Lease by more than a de minimis extent, or increase Tenant’s
non-monetary obligations under this Lease in any material respect or decrease Landlord’s obligations in any material respect, (b) diminish Tenant’s rights under this Lease in any material
respect, (c) adversely impact the value of the Leased Property by more than a de minimis extent or otherwise have a more than de minimis adverse effect on the Leased Property, Tenant or Landlord, (d) result in this Lease not constituting a
“true lease”, or (e) result in a default under any Permitted Leasehold Mortgage. The foregoing is not intended to vitiate or supersede the provisions, terms and conditions of Section 31.1 hereof. 

31.2 Attornment. If either (a) Landlord’s interest in the Leased Property or any portion
thereof or interest therein is sold, conveyed or terminated upon the exercise of any remedy provided for in any Fee Mortgage Documents (or in lieu of such exercise) or (b) equity interests in Landlord are sold or conveyed upon the exercise of
any remedy provided for in any Fee Mortgage Documents (or in lieu of such exercise), or otherwise by operation of law, then, at the request and option of the new owner or superior lessor, as the case may be, Tenant shall attorn to and recognize the
new owner or superior lessor as Tenant’s “landlord”. 
 31.3 Compliance with Fee Mortgagee Documents.

 (a) Tenant acknowledges that any Fee Mortgage Documents executed by Landlord or any Affiliate of Landlord may impose certain obligations
on the “borrower” or other counterparty thereunder to comply with, or cause the operator and/or lessee of the Leased Property to comply with, certain reasonable covenants contained therein, including, without limitation, covenants relating
to (i) the alteration, maintenance, repair and restoration of the Leased Property; (ii) maintenance and submission of financial records and accounts of the operation of the Leased Property and financial and other information regarding the
operator and/or lessee of the Leased Property and the Leased Property itself and other portions of the Facilities; (iii) the procurement of insurance policies with respect to the Leased Property; (iv) removal of liens and encumbrances;
(v) subleasing, management and related activities; and (vi) without limiting the foregoing, compliance with all applicable Legal Requirements (including Gaming Regulations) relating to the Leased Property and the operation of the business
thereon or therein. From and after the date any Fee Mortgage encumbers the Leased Property (or any portion thereof or interest therein) and Landlord has provided Tenant with true and complete copies thereof and, if Landlord elects, of any applicable
Fee Mortgage Documents (for informational purposes only, but not for Tenant’s approval), accompanied by a written request for Tenant to comply with the Additional Fee Mortgagee Requirements (hereinafter defined) (which request shall expressly
reference this Section 31.3 and expressly identify the Fee Mortgage Documents and sections thereof containing the Additional Fee Mortgagee Requirements), and continuing until the first to occur of (1) such Fee Mortgage
Documents ceasing to remain in full force and effect by reason of satisfaction in full of the indebtedness thereunder or foreclosure or similar exercise of remedies or otherwise), (2) the Expiration Date, (3) such time as Tenant’s
compliance with the Additional Fee Mortgagee Requirements would constitute or give rise to a breach or violation of (x) this Lease or the MLSA, in either case not waived by Landlord and, if applicable, Manager, (y) Legal Requirements
(including Gaming 

  
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Regulations and Liquor Laws), or (z) any Permitted Leasehold Mortgage (not waived by the applicable Permitted Leasehold Mortgagee), provided, however, with respect to this clause (z), (I)
Tenant shall not be relieved of its obligation to comply with (A) the terms of the Additional Fee Mortgagee Requirements in effect as of the Commencement Date (whether embodied in the Existing Fee Mortgage or related Fee Mortgage Documents or
in any future Fee Mortgage or related Fee Mortgage Documents containing the applicable corresponding terms), nor (B) unless the applicable terms of the Permitted Leasehold Mortgage were customary at the time entered into, any Additional Fee
Mortgagee Requirements (other than any Additional Fee Mortgagee Requirements covered under the preceding clause (A)) in effect as of the time when the Permitted Leasehold Mortgage was obtained, and (II) such Permitted Leasehold Mortgage shall
have been entered into by Tenant without any intent to vitiate or supersede the terms of any applicable Additional Fee Mortgagee Requirements, and (4) Tenant receives written direction from Landlord, any Fee Mortgagee or any governmental
authority requesting or instructing Tenant to cease complying with the Additional Fee Mortgagee Requirements, (provided, prior to ceasing compliance with any Additional Fee Mortgagee Requirements under the preceding clauses (3) and (4),
Tenant shall first provide Landlord with prior written notice together with, (x) if acting pursuant to clause (3), reasonably detailed materials evidencing that such compliance constitutes such a breach, and (y) if acting pursuant to
clause (4), a copy of the applicable communication(s) from such Fee Mortgagee or governmental authority, as applicable, and Tenant shall in such event only cease compliance with the specific Additional Fee Mortgage Requirements in question under
clause (3) or that are covered by the written direction under clause (4), as applicable) (such time period, the “Additional Fee Mortgagee Requirements Period”), Tenant covenants and agrees, at its sole cost and expense and for
the express benefit of Landlord (and not, for the avoidance of doubt, any Fee Mortgagee, which shall not be construed to be a third-party beneficiary of this Lease, provided, however, this parenthetical provision is not intended to vitiate
Tenant’s obligation to perform any or all of the Additional Fee Mortgagee Requirements directly for the benefit of any Fee Mortgagee as and to the extent agreed to by Tenant in an agreement entered into directly between Tenant and such Fee
Mortgagee), to operate the Leased Property (or cause the Leased Property to be operated) in compliance with the Additional Fee Mortgagee Requirements of which it has received written notice. For the avoidance of doubt, notwithstanding anything to
the contrary herein, Tenant shall not be required to comply with and shall not have any other obligations with respect to any terms or conditions of, or amendments or modifications to, any Fee Mortgage or other Fee Mortgage Documents that do not
constitute Additional Fee Mortgagee Requirements; provided, however, that the foregoing shall not be deemed to release Tenant from its obligations under this Lease that do not derive from the Fee Mortgage Documents, whether or not such
obligations are duplicative of those set forth in the Fee Mortgage Documents. 
 (b) As used herein, “Additional Fee Mortgagee
Requirements” means those customary requirements as to the operation of the Leased Property and the business thereon or therein which the Fee Mortgage Documents impose (x) directly upon, or require Landlord (or Landlord’s
Affiliate borrower thereunder) to impose upon, the tenant(s) and/or operator(s) of the Leased Property or (y) directly upon Landlord, but which, by reason of the nature of the obligation(s) imposed and the nature of Tenant’s occupancy and
operation of the Leased Property and the business conducted thereupon, are not reasonably susceptible of being performed by Landlord and are reasonably susceptible of being performed by Tenant (excluding, for the avoidance of doubt, payment of any
indebtedness or other obligations evidenced or 

  
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secured thereby) and, except with respect to the Existing Fee Mortgage (of which Tenant is deemed to have received written notice) of which Tenant has received written notice; provided,
however, that, notwithstanding the foregoing, Additional Fee Mortgagee Requirements shall not include or impose on Tenant (and Tenant will not be subject to) obligations which (i) are not customary for the type of financing provided
under the applicable Fee Mortgage Documents, (ii) increase Tenant’s monetary obligations under this Lease to more than a de minimis extent (it being agreed that (x) funding and maintaining Fee Mortgage Reserve Accounts in the same
amounts (as increased, for purposes of this clause (x), by the Escalator on the first (1st) day of each Lease Year (commencing on the first (1st) day of the second (2nd) Lease Year)) as required pursuant to the Existing Fee Mortgage Documents and
(y) making payments otherwise payable to Landlord into a “lockbox” account designated by a Fee Mortgagee shall not be deemed to increase Tenant’s monetary obligations under the Lease), (iii) increase Tenant’s non-monetary obligations under this Lease in any material respect (it being agreed that funding and maintaining Fee Mortgage Reserve Accounts in amounts described in clause (ii)(x) above and making payments
otherwise payable to Landlord into a “lockbox” account designated by a Fee Mortgagee shall not be deemed to increase Tenant’s non-monetary obligations under the Lease), or (iv) diminish
Tenant’s rights under this Lease in any material respect. Notwithstanding the foregoing, the Parties agree that (A) the Additional Fee Mortgagee Requirements as in effect on the Commencement Date, arising out of the Existing Fee Mortgage
and the related Fee Mortgage Documents in each case as in effect on the Commencement Date, shall consist solely of those requirements and obligations set forth on Exhibit K attached hereto, and (B) the Additional Fee Mortgagee
Requirements, to the extent arising out of any Fee Mortgage and the related Fee Mortgage Documents, in each case, entered into after the Commencement Date, shall not include any requirements or obligations that arise out of the representations or
warranties made under such Fee Mortgage or Fee Mortgage Documents (but, for the avoidance of doubt, this clause (B) is not intended to (i) exclude from the Additional Fee Mortgage Requirements hereunder subsequent to the Commencement Date
any such requirements or obligations to the extent arising out of any provisions, terms or conditions of such Fee Mortgage or such Fee Mortgage Documents other than such representations and warranties, or (ii) vitiate or supersede Tenant’s
obligation to cooperate with Landlord in connection with Landlord obtaining any Fee Mortgage or entering into any arrangement relating thereto as provided in Section 31.1(b) hereof). 

(c) Notwithstanding the foregoing, prior to Tenant being required to fund reserves for taxes and insurance or any other Fee Mortgage Reserve
Accounts in accordance with the preceding Section 31.1(b), Tenant shall have received from Landlord and the applicable Fee Mortgagee, an agreement reasonably acceptable to Tenant providing that such sums deposited by Tenant must, unless and
until both (x) the Landlord’s Enforcement Condition has occurred and (y) this Lease has been terminated by Landlord pursuant to Section 16.2(x) hereof, be used for the payment, when due and payable, of the actual applicable tax
and insurance bills or other applicable amounts for which they were reserved (and may not be used by such Fee Mortgagee (or by Landlord) as collateral for sums due under the applicable Fee Mortgage Documents or for any other purpose). Any proposed
implementation of any additional financial covenants (i.e., a requirement that Tenant must meet certain specified performance tests of a financial nature, e.g., meeting a threshold EBITDAR, Net Revenue, financial ratio or similar test) that are
imposed on Tenant shall not constitute Additional Fee Mortgagee Requirements (it being understood that Landlord may agree to such financial covenants being imposed in any Fee Mortgage Documents so long as such financial covenants will not impose
additional obligations on Tenant to comply 

  
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therewith). For the avoidance of doubt, Additional Fee Mortgagee Requirements may include (to the extent consistent with the foregoing definition of Additional Fee Mortgagee Requirements)
requirements of Tenant to: 
 (i) fund and maintain reasonably required and customary impound, escrow or other reserve or
similar accounts as security for or otherwise relating to any operating expenses of the Leased Property, including any fixture, furniture and equipment, capital repair or replacement reserves and/or impounds or escrow accounts for taxes, ground rent
and/or insurance premiums (each a “Fee Mortgage Reserve Account”); provided, however, without Tenant’s prior written consent, the Additional Fee Mortgagee Requirements shall not impose obligations to fund or
maintain Fee Mortgage Reserve Accounts in excess of amounts otherwise required to be reserved under the Fee Mortgage Documents as in effect on the Commencement Date; and provided further that (A) any amounts which Tenant is
required to fund into a Fee Mortgage Reserve Account pursuant to Additional Fee Mortgagee Requirements shall be credited on a dollar for dollar basis against the respective applicable expenditure obligations of Tenant for the Leased Property under
this Lease at such time that such funds are used or (subject to satisfaction of the applicable disbursement conditions in the Fee Mortgage Documents as in effect on the Commencement Date or in any future Fee Mortgage Documents, in each case to the
extent Tenant is required to comply therewith pursuant to this Article XXXI) requested by Tenant to be used for their intended purpose (e.g., payment of funds into a Fee Mortgage Reserve Account on account of Impositions shall be deemed
satisfaction of Tenant’s obligation under this Lease to pay such amount of Impositions at such time that such funds are used or (subject to satisfaction of the applicable disbursement conditions in the Fee Mortgage Documents as in effect on the
Commencement Date or in any future Fee Mortgage Documents, in each case to the extent Tenant is required to comply therewith pursuant to this Article XXXI) requested by Tenant to be used to pay the applicable Impositions (whether such
Impositions are paid directly by Tenant or by the Fee Mortgagee in accordance with the terms of the Fee Mortgage Documents)), and (B) unless and until both (x) the Landlord’s Enforcement Condition has occurred and (y) this Lease
has been terminated by Landlord pursuant to Section 16.2(x) hereof, (i) Tenant shall, subject to the terms hereof (and, to the extent consisting of Additional Fee Mortgagee Requirements, the terms and conditions applicable to the Fee
Mortgage Reserve Accounts under the related Fee Mortgage Documents), have the right to apply or use (including for reimbursement) all amounts held in each such Fee Mortgage Reserve Account for payment or reimbursement of amounts for which such
reserve was established, without regard to any default by Landlord under the Fee Mortgage or other condition beyond the control of Tenant, and (ii) such amounts may not be applied against the Fee Mortgage. Landlord hereby further acknowledges
that funds deposited by Tenant in any Fee Mortgage Reserve Account are, subject to the applicable provisions, terms and conditions of this Lease, the property of Tenant and accordingly, so long as no Tenant Event of Default is continuing, except as
may be agreed to by Tenant in its sole discretion in respect of any other applicable Additional Fee Mortgagee Requirements, the applicable Fee Mortgagee shall agree to return the portion of such funds not previously released to Tenant within fifteen
(15) days following the expiration of the Additional Fee Mortgagee Requirements Period and may not apply such funds against the Fee Mortgage. 

  
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 (ii) make Rent payments into “lockbox accounts” maintained for the
benefit of Fee Mortgagee; and/or 
 (iii) subject to this Section 31.3, perform other actions consistent with the
obligations described in the first sentence of this Section 31.3 
 (d) In the event Tenant breaches its obligations to comply
with Additional Fee Mortgagee Requirements as described herein (without regard to any notice or cure period under the Fee Mortgage Documents and without regard to whether a default or event of default has occurred as a result thereof under the Fee
Mortgage Documents), Landlord shall have the right, following the failure of Tenant to cure such breach within twenty (20) days from receipt of written notice to Tenant from Landlord of such breach (except to the extent the breach is of a
nature such that it is not practicable for Landlord to provide such prior written notice, in which event Landlord shall provide written notice as soon as practicable), to cure such breach, in which event Tenant shall reimburse Landlord for
Landlord’s reasonable costs and expenses incurred in connection with curing such breach. 
 (e) Landlord and Tenant acknowledge that,
in connection with the implementation of the Bankruptcy Plan, CEC and Affiliates of Tenant were involved in the negotiations concerning the Existing Fee Mortgage Documents and reviewed the provisions, terms and conditions of the Existing Fee
Mortgage Documents, and, accordingly, Tenant hereby consents and agrees to all provisions, terms and conditions of the Existing Fee Mortgage Documents as in effect as of the date hereof that comprise Additional Fee Mortgagee Requirements and the
same are set forth on Exhibit K attached hereto. If Landlord or its Affiliate anticipates entering into new or modified Fee Mortgage Documents that would modify or impose new Additional Fee Mortgagee Requirements, Landlord shall
(x) provide copies of the same to Tenant with reasonably sufficient time prior to the execution and delivery thereof by Landlord or any Affiliate of Landlord to enable Tenant to timely comply with any such changes to the, or new, Additional Fee
Mortgagee Requirements and (y) promptly upon the execution and delivery thereof by Landlord or any Affiliate of Landlord, deliver to Tenant an updated description thereof in accordance with the second sentence of this
Section 31.3. 
 (f) To the extent of any conflict between the terms and provisions of any agreement to which
Landlord, Tenant and Fee Mortgagee are parties and the terms and provisions of this Section 31.3, the terms and provisions of such agreement shall govern and control in accordance with its terms. 

(g) Notwithstanding anything otherwise set forth in this Lease, Landlord shall have no obligation or liability to Tenant in connection with
any approval, consent or other determination which is to be given by Fee Mortgagee in respect of any Additional Fee Mortgagee Requirements, so agreed to by Tenant, except in any case solely as and to the extent expressly provided in this Lease. 

  
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 ARTICLE XXXII 

ENVIRONMENTAL COMPLIANCE 

32.1 Hazardous Substances. Tenant shall not allow any Hazardous Substance to be located in, on,
under or about the Leased Property or any portion thereof or incorporated into any Facility; provided however that Hazardous Substances may be (i) brought, kept, used or disposed of in, on or about the Leased Property in quantities and for
purposes similar to those brought, kept, used or disposed of in, on or about similar facilities used for purposes similar to the Primary Intended Use or in connection with the construction of facilities similar to the Leased Property and
(ii) disposed of in strict compliance with Legal Requirements (other than Gaming Regulations). Tenant shall not allow the Leased Property or any portion thereof to be used as a waste disposal site or for the manufacturing, handling, storage,
distribution or disposal of any Hazardous Substance other than in the ordinary course of the business conducted at the Leased Property and in compliance with applicable Legal Requirements (other than Gaming Regulations). 

32.2 Notices. Tenant shall provide to Landlord, as soon as reasonably practicable but in no event
later than fifteen (15) days after Tenant’s receipt thereof, a copy of any notice, notification or request for information with respect to, (i) any violation of a Legal Requirement (other than Gaming Regulations) relating to, or
Release of, Hazardous Substances located in, on, or under the Leased Property or any portion thereof or any adjacent property; (ii) any enforcement, cleanup, removal, or other governmental or regulatory action instituted, completed or
threatened in writing with respect to the Leased Property or any portion thereof; (iii) any material claim made or threatened in writing by any Person against Tenant or the Leased Property or any portion thereof relating to damage,
contribution, cost recovery, compensation, loss, or injury resulting from or claimed to result from any Hazardous Substance; and (iv) any reports made to any federal, state or local environmental agency arising out of or in connection with any
Hazardous Substance in, on, under or removed from the Leased Property or any portion thereof, including any written complaints, notices, warnings or assertions of violations in connection therewith 

32.3 Remediation. If Tenant becomes aware of a violation of any Legal Requirement (other than Gaming
Regulations) relating to any Hazardous Substance in, on, under or about the Leased Property or any portion thereof or any adjacent property, or if Tenant, Landlord or the Leased Property or any portion thereof becomes subject to any order of any
federal, state or local agency to repair, close, detoxify, decontaminate or otherwise remediate the Leased Property, Tenant shall promptly notify Landlord of such event and, at its sole cost and expense, cure such violation or effect such repair,
closure, detoxification, decontamination or other remediation. If Tenant fails to diligently pursue, implement and complete any such cure, repair, closure, detoxification, decontamination or other remediation, which failure continues after notice
and expiration of applicable cure periods, Landlord shall have the right, but not the obligation, to carry out such action and to recover from Tenant all of Landlord’s costs and expenses incurred in connection therewith. 

32.4 Indemnity. Each of the Persons comprising Tenant shall jointly and severally indemnify, defend,
protect, save, hold harmless, and reimburse Landlord for, from and against 

  
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any and all actual out-of-pocket costs, losses (including, losses of use or economic benefit or diminution in
value), liabilities, damages, assessments, lawsuits, deficiencies, demands, claims and expenses (collectively, “Environmental Costs”) (whether or not arising out of third-party claims and regardless of whether liability without
fault is imposed, or sought to be imposed, on Landlord) incurred in connection with, arising out of, resulting from or incident to, directly or indirectly, in each case before or during (but not if first occurring after) the Term (i) the
production, use, generation, storage, treatment, transporting, disposal, discharge, Release or other handling or disposition of any Hazardous Substances from, in, on or under the Leased Property or any portion thereof (collectively,
“Handling”), including the effects of such Handling of any Hazardous Substances on any Person or property within or outside the boundaries of the Leased Property, (ii) the presence of any Hazardous Substances in, on or under
the Leased Property and (iii) the violation of any Environmental Law. “Environmental Costs” include interest, costs of response, removal, remedial action, containment, cleanup, investigation, design, engineering and
construction, damages (including actual and consequential damages) for personal injuries and for injury to, destruction of or loss of property or natural resources, relocation or replacement costs, penalties, fines, charges or expenses, reasonable
attorney’s fees, reasonable expert fees, reasonable consultation fees, and court costs, and all amounts paid in investigating, defending or settling any of the foregoing, as applicable. Tenant’s indemnity hereunder shall survive the
termination of this Lease, but in no event shall Tenant’s indemnity apply to Environmental Costs incurred in connection with, arising out of, resulting from or incident to matters first occurring after the later of (x) the end of the Term
and (y) the date upon which Tenant shall have vacated the Leased Property and surrendered the same to Landlord, in each case to the extent such matters are not or were not caused by the acts or omissions of Tenant in breach of this Lease. 

Without limiting the scope or generality of the foregoing, Tenant expressly agrees that, in the event of a breach by Tenant in its obligations
under Sections 32.1 through 32.3 that is not cured within any applicable cure period, Tenant shall reimburse Landlord for any and all reasonable costs and expenses incurred by Landlord in connection with, arising out of, resulting from
or incident to (directly or indirectly, before or during (but not if first occurring after) the Term) the following: 
 (a) investigating any
and all matters relating to the Handling of any Hazardous Substances, in, on, from or under the Leased Property or any portion thereof; 

(b) bringing the Leased Property into compliance with all Legal Requirements, and 

(c) removing, treating, storing, transporting, cleaning-up and/or disposing of any Hazardous
Substances used, stored, generated, released or disposed of in, on, from, under or about the Leased Property or off-site other than in the ordinary course of the business conducted at the Leased Property and
in compliance with applicable Legal Requirements. 
 If any claim is made by Landlord for reimbursement for Environmental Costs incurred by
it hereunder, Tenant agrees to pay such claim promptly, and in any event to pay such claim within sixty (60) calendar days after receipt by Tenant of written notice thereof and any amount not so paid within such sixty (60) calendar day
period shall bear interest at the Overdue Rate from the date due to the date paid in full. 

  
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 32.5 Environmental Inspections. In the event Landlord
has a reasonable basis to believe that Tenant is in breach of its obligations under Sections 32.1 through 32.4, Landlord shall have the right, from time to time, during normal business hours and upon not less than five
(5) Business Days written notice to Tenant (except in the case of an emergency of imminent threat to human health or safety or damage to property, in which event Landlord shall undertake reasonable efforts to notify a representative of Tenant
as soon as practicable under the circumstances), to conduct an inspection of the Leased Property or any portion thereof (and Tenant shall be permitted to have Landlord or its representatives accompanied by a representative of Tenant) to determine
the existence or presence of Hazardous Substances on or about the Leased Property or any portion thereof. In the event Landlord has a reasonable basis to believe that Tenant is in breach of its obligations under Sections 32.1 through
32.4, Landlord shall have the right to enter and inspect the Leased Property or any portion thereof, conduct any testing, sampling and analyses it reasonably deems necessary and shall have the right to inspect materials brought into the
Leased Property or any portion thereof. Landlord may, in its discretion, retain such experts to conduct the inspection, perform the tests referred to herein, and to prepare a written report in connection therewith if Landlord has a reasonable basis
to believe that Tenant is in breach of its obligations under Sections 32.1 through 32.4. All costs and expenses incurred by Landlord under this Section 32.6 shall be the responsibility of
Landlord, except solely to the extent Tenant has breached its obligations under Sections 32.1 through 32.5, in which event such reasonable costs and expenses shall be paid by Tenant to Landlord as provided in
Section 32.4. Failure to conduct an environmental inspection or to detect unfavorable conditions if such inspection is conducted shall in no fashion constitute a release of any liability for environmental conditions
subsequently determined to be associated with or to have occurred during Tenant’s tenancy. Tenant shall remain liable for any environmental condition related to or having occurred during its tenancy regardless of when such conditions are
discovered and regardless of whether or not Landlord conducts an environmental inspection at the termination of this Lease. The obligations set forth in this Article XXXII shall survive the expiration or earlier termination of this Lease but
in no event shall Article XXXII apply to matters first occurring after the later of (x) the end of the Term and (y) the date upon which Tenant shall have vacated the Leased Property and surrendered the same to Landlord, in each case
to the extent such matters are not or were not caused by the acts or omissions of Tenant in breach of this Lease. 
 ARTICLE XXXIII

 MEMORANDUM OF LEASE 

Landlord and Tenant shall, promptly upon the request of either Party, enter into one or more short form memoranda of this Lease, in form
suitable for recording in each county or other applicable location in which the Leased Property is located. Each Party shall bear its own costs in negotiating and finalizing such memoranda, but Tenant shall pay all costs and expenses of recording
any such memorandum and shall fully cooperate with Landlord in removing from record any such memorandum upon the Expiration Date. 

  
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 ARTICLE XXXIV 

DISPUTE RESOLUTION 

34.1 Expert Valuation Process. Whenever a determination of Fair Market Ownership Value or Fair
Market Base Rental Value or Fair Market Property Value is required pursuant to any provision of this Lease, and where Landlord and Tenant have not been able to reach agreement on such Fair Market Ownership Value or Fair Market Base Rental Value or
Fair Market Property Value either (i) with respect to Fair Market Base Rental Value applicable to a Renewal Term, within three hundred seventy (370) days prior to the commencement date of a Renewal Term or (ii) for all other purposes,
after at least fifteen (15) days of good faith negotiations, then either Party shall each have the right to seek, upon written notice to the other Party (the “Expert Valuation Notice”), which notice clearly identifies that such
Party seeks, to have such Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value determined in accordance with the following Expert Valuation Process: 

(a) Within twenty (20) days of the receiving Party’s receipt of the Expert Valuation Notice, Landlord and Tenant shall provide notice
to the other Party of the name, address and other pertinent contact information, and qualifications of its selected appraiser (which appraiser must be an independent qualified MAI appraiser (i.e., a Member of the Appraisal Institute)). 

(b) As soon as practicable following such notice, and in any event within twenty (20) days following their selection, each appraiser
shall prepare a written appraisal of Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value (as the case may be) as of the relevant date of valuation, and deliver the same to its respective client. Representatives
of the Parties shall then meet and simultaneously exchange copies of such appraisals. Following such exchange, the appraisers shall promptly meet and endeavor to agree upon Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market
Property Value (as the case may be) based on a written appraisal made by each of them (and given to Landlord by Tenant). If such two appraisers shall agree upon a Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property
Value, as applicable, such agreed amount shall be binding and conclusive upon Landlord and Tenant. 
 (c) If such two appraisers are unable
to agree upon a Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value (as the case may be) within five (5) Business Days after the exchange of appraisals as aforesaid, then such appraisers shall advise
Landlord and Tenant of the same and, within twenty (20) days of the exchange of appraisals, select a third appraiser (which third appraiser, however selected, must be an independent qualified MAI appraiser) to make the determination of Fair
Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value. The selection of the third appraiser shall be binding and conclusive upon Landlord and Tenant. 

(d) If such two appraisers shall be unable to agree upon the designation of a third appraiser within the twenty (20) day period referred
to in clause (c) above, or if such third appraiser does not make a determination of Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value (as the case may be) within thirty (30) days after his

  
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or her selection, then such third appraiser (or a substituted third appraiser, as applicable) shall, at the request of either Party, be appointed by the Appointing Authority and such appointment
shall be final and binding on Landlord and Tenant. The determination of Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value (as the case may be) made by the third appraiser appointed pursuant hereto shall be
made within twenty (20) days after such appointment. 
 (e) If a third appraiser is selected, Fair Market Ownership Value or Fair
Market Base Rental Value or Fair Market Property Value (as the case may be) shall be the average of (x) the determination of Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value (as the case may be) made by
the third appraiser and (y) the determination of Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value (as the case may be) made by the appraiser (selected pursuant to Section 34.1(b)) whose
determination of Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value (as the case may be) is nearest to that of the third appraiser. Such average shall be binding and conclusive upon Landlord and Tenant as
being the Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value (as the case may be). 
 (f) In
determining Fair Market Ownership Value of the Leased Property as a whole or any Facility, the appraisers shall (in addition to taking into account the criteria set forth in the definition of Fair Market Ownership Value), add (i) the present
value of the Rent for the remaining Term, assuming the Term has been extended for all Renewal Terms provided herein (with assumed increases in CPI to be determined by the appraisers) using a discount rate (which may be determined by an investment
banker retained by each appraiser) based on the credit worthiness of Tenant and any guarantor of Tenant’s obligations hereunder and (ii) the present value of the Leased Property or Facility as of the end of such Term (assuming the Term has
been extended for all Renewal Terms provided herein). The appraisers shall further assume that no default then exists under the Lease, that Tenant has complied (and will comply) with all provisions of the Lease, and that no default exists under any
guaranty of Tenant’s obligations hereunder. 
 (g) In determining Fair Market Base Rental Value, the appraisers shall (in addition to
the criteria set forth in the definition thereof and of Fair Market Rental Value) take into account: (i) the age, quality and condition (as required by the Lease) of the Improvements; (ii) that the Leased Property or Facility will be
leased as a whole or substantially as a whole to a single user; (iii) when determining the Fair Market Base Rental Value for any Renewal Term, a lease term of five (5) years together with such options to renew as then remains hereunder;
(iv) an absolute triple net lease; and (v) such other items that professional real estate appraisers customarily consider. 
 (h)
In determining Fair Market Property Value pursuant to Section 36.3 hereof, each appraiser shall have the right to sub-engage an appraiser or other Person with specialized experience
in valuing Intellectual Property assets, to work with such appraiser for purposes of appraising, and assisting with preparation of a written report detailing, such Intellectual Property assets. Notice of any such
sub-engagement shall be given to the other Party consistent with the requirements of Section 34.1(a). 

  
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 (i) If, by virtue of any delay, Fair Market Base Rental Value is not determined by the first (1st) day of the applicable Renewal Term, then until Fair Market Base Rental Value is determined, Tenant shall continue to pay Rent during the succeeding Renewal Term in the same amount which Tenant was
obligated to pay prior to the commencement of the Renewal Term. Upon determination of Fair Market Base Rental Value, Rent shall be calculated retroactive to the commencement of the Renewal Term and Tenant shall either receive a refund from Landlord
(in the case of an overpayment) or shall pay any deficiency to Landlord (in the case of an underpayment) within thirty (30) days of the date on which the determination of Fair Market Base Rental Value becomes binding. 

(j) The cost of the procedure described in this Section 34.1 shall be borne equally by the Parties and the Parties
will reasonably coordinate payment; provided, that if Landlord pays such costs, fifty percent (50%) of such costs shall be Additional Charges hereunder and if Tenant pays such costs, fifty percent (50%) of such costs shall be a credit against
the next Rent payment hereunder. 
 34.2 Arbitration. In the event of a dispute with respect to
this Lease pursuant to an Arbitration Provision, or in any case when this Lease expressly provides for the settlement or determination of a dispute or question by an Expert pursuant to this Section 34.2 (in any such case, a
“Section 34.2 Dispute”) such dispute shall be determined in accordance with an arbitration proceeding as set forth in this Section 34.2. 

(a) Any Section 34.2 Dispute shall be determined by an arbitration panel comprised of three members, each of whom
shall be an Expert (the “Arbitration Panel”). No more than one panel member may be with the same firm and no panel member may have an economic interest in the outcome of the arbitration. 

The Arbitration Panel shall be selected as set forth in this Section 34.2(b). If a
Section 34.2 Dispute arises and if Landlord and Tenant are not able to resolve such dispute after at least fifteen (15) days of good faith negotiations, then either Party shall each have the right to submit the dispute
to the Arbitration Panel, upon written notice to the other Party (the “Arbitration Notice”). The Arbitration Notice shall identify one member of the Arbitration Panel who meets the criteria of the above paragraph. Within five
(5) Business Days after the receipt of the Arbitration Notice, the Party receiving such Arbitration Notice shall respond in writing identifying one member of the Arbitration Panel who meets the criteria of the above paragraph. Such notices
shall include the name, address and other pertinent contact information, and qualifications of its member of the Arbitration Panel. If a Party fails to timely select its respective panel member, the other Party may notify such Party in writing of
such failure, and if such Party fails to select its respective panel member within three (3) Business Days after receipt of such notice, then such other Party may select and identify to such Party such panel member on such Party’s behalf.
The third member of the Arbitration Panel will be selected by the two (2) members of the Arbitration Panel who were selected by Landlord and Tenant; provided, that if, within five (5) Business Days after they are identified, they
fail to select a third member, or if they are unable to agree on such selection, Landlord and Tenant shall cause the third member of the Arbitration Panel to be appointed by the managing officer of the American Arbitration Association. 

  
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 (b) Within ten (10) Business Days after the selection of the Arbitration Panel, Landlord and
Tenant each shall submit to the Arbitration Panel a written statement identifying its summary of the issues. Landlord and Tenant may also request an evidentiary hearing on the merits in addition to the submission of written statements. The
Arbitration Panel shall make its decision within twenty (20) days after the later of (i) the submission of such written statements, and (ii) the conclusion of any evidentiary hearing on the merits. The Arbitration Panel shall reach
its decision by majority vote and shall communicate its decision by written notice to Landlord and Tenant. 
 (c) The decision by the
Arbitration Panel shall be final, binding and conclusive and shall be non-appealable and enforceable in any court having jurisdiction. All hearings and proceedings held by the Arbitration Panel shall take
place in New York, New York unless otherwise mutually agreed by the Parties and the Arbitration Panel. 
 (d) The resolution procedure
described herein shall be governed by the Commercial Rules of the American Arbitration Association and the Procedures for Large, Complex, Commercial Disputes in effect as of the Commencement Date. 

(e) Landlord and Tenant shall bear equally the fees, costs and expenses of the Arbitration Panel in conducting any arbitration described in
this Section 34.2. 
 ARTICLE XXXV 

NOTICES 
 Any notice,
request, demand, consent, approval or other communication required or permitted to be given by either Party hereunder to the other Party shall be in writing and shall be sent by registered or certified mail, postage prepaid and return receipt
requested, by hand delivery or express courier service, by email transmission or by an overnight express service to the following address: 
  

			
	 To Tenant:
  

CEOC, LLC

One Caesars Palace Drive

Las Vegas, NV 89109

Attention: General Counsel

Email: corplaw@caesars.com
	  	 To Landlord:
  

c/o VICI Properties Inc.

8329 West Sunset Road, Suite 210

Las Vegas, NV 89113

Attention: General Counsel

Email: corplaw@viciproperties.com

 or to such other address as either Party may hereafter designate. Notice shall be deemed to have been given on the date of
delivery if such delivery is made on a Business Day, or if not, on the first Business Day after delivery. If delivery is refused, Notice shall be deemed to have been given on the date delivery was first attempted. Notice sent by email shall be
deemed given only upon an independent, non-automated confirmation from the recipient acknowledging receipt. 

  
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 ARTICLE XXXVI 

END OF TERM SUCCESSOR ASSET TRANSFER 

36.1 Transfer of Tenant’s Successor Assets and Operational Control of the Leased
Property. Upon the written request of Landlord, upon the Stated Expiration Date (or earlier (x) termination of this Lease in its entirety pursuant to Section 14.2(a) or (y) consensual termination of this
Lease) (other than, for the avoidance of doubt, upon an expiration of the Term pursuant to Section 1.5) Landlord and Tenant shall comply with the remainder of this Article XXXVI, pursuant to which, among other
things, (i) Tenant (and its Subsidiaries, as applicable) shall transfer (or cause to be transferred), upon the date required under this Article XXXVI, all of Tenant’s Pledged Property, subject to
Section 36.2 with respect to Intellectual Property (collectively, the “Successor Assets”), to a successor lessee (or lessees) of the Leased Property (collectively, the “Successor Tenant”)
designated by Landlord, in exchange for a sum (the “Successor Assets FMV”) which shall be paid by the Successor Tenant to Tenant and be determined in accordance with the penultimate sentence of this
Section 36.1 and/or (ii) Tenant (and its Subsidiaries, as applicable) shall stay in occupancy of the Leased Property following the Expiration Date and continue to operate the Facilities, collect and retain revenue
therefrom, and pay Rent, all in the manner required under this Section 36.1, for so long as Landlord is seeking a Successor Tenant in good faith; provided, however, that Tenant shall have no obligation (unless specifically
agreed to by Tenant) to operate the Leased Property (or pay any such Rent) under such arrangement for more than two (2) years after the Expiration Date. For purposes of clarification, a termination of this Lease in accordance with
Section 16.2 and/or the execution of a New Lease in accordance with Section 17.1(f) hereof shall not trigger the provisions set forth in this Article XXXVI and this Article XXXVI shall not apply in such
circumstance. Notwithstanding the occurrence of the Expiration Date, to the extent that this Section 36.1 applies, until such time that Tenant transfers the Successor Assets to a Successor Tenant (or, to the extent
applicable pursuant to clause (ii) hereinabove), Tenant shall (or shall cause its Subsidiaries, if applicable, to) continue to possess and operate the Facility (and Landlord shall permit Tenant to maintain possession of the Leased Property
(including, if necessary, by means of a written extension of this Lease or license agreement or other written agreement) to the extent necessary to operate the Facility) in accordance with the applicable terms of this Lease and the course and manner
in which Tenant (or its Subsidiaries, if any) had operated the Facility prior to the end of the Term (including, but not limited to, the payment of Rent hereunder which shall be calculated as provided in this Lease, except, that for any period
following the last day of the calendar month in which the thirty-fifth (35th) anniversary of the Commencement Date occurs, the Rent shall be a per annum amount equal to the sum of (A) the
amount of the Base Rent hereunder during the Lease Year in which the Expiration Date occurs, multiplied by the Escalator, and increased on each anniversary of the Expiration Date to be equal to the Rent payable for the immediately preceding year,
multiplied by the Escalator, plus (B) the amount of the Variable Rent hereunder during the Lease Year in which the Expiration Date occurs. If Tenant, on the one hand, and Landlord and/or a Successor Tenant designated by Landlord, on the other
hand, cannot agree on the Successor Assets FMV within a reasonable time not to exceed thirty (30) days after the delivery of the notice described in the first sentence of this Section 36.1, then such Successor Assets
FMV shall be determined, and Tenant’s transfer of the Successor Assets to a Successor Tenant in consideration for a payment in such amount shall be made, in accordance with the provisions of Section 36.3. For avoidance
of doubt, it is acknowledged and 

  
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agreed that if Landlord does not deliver such notice, then from and after the later of (X) the Expiration Date or (Y) when Tenant shall have vacated the Leased Property in accordance
with the requirements of this Lease, Landlord shall have no right in or to any of the Successor Assets, and the lien granted to Landlord in Tenant’s Pledged Property pursuant to Section 6.3 of this Lease shall
terminate. 
 36.2 Transfer of Intellectual Property. The Successor Assets shall include the Property
Specific IP and Successor Tenant’s access to the System-wide IP, which access shall be governed by the Transition Services Agreement. Without limiting the foregoing, Tenant shall, within thirty (30) days after the occurrence of the notice
described in the first sentence of Section 36.1, deliver to Landlord a copy of all Property Specific Guest Data; provided, however, that Tenant shall have the right to retain and use copies of such data as required by Legal
Requirements, including applicable Gaming Regulations. 
 36.3 Determination of Successor Assets FMV. If not effected
pursuant to the penultimate sentence of Section 36.1, then the Successor Assets FMV shall be equal to the applicable Fair Market Property Value thereof. Notwithstanding anything in the contrary in this Article XXXVI,
the transfer of the Successor Assets will be conditioned upon the approval of the applicable regulatory agencies of the transfer of the Gaming Licenses and any other Gaming assets to the Successor Tenant and/or the issuance of new Gaming Licenses as
required by applicable Gaming Regulations and the relevant regulatory agencies both with respect to operating and suitability criteria, as the case may be. 

36.4 Operation Transfer. Upon designation of a Successor Tenant by Landlord (pursuant to this
Article XXXVI), Tenant shall reasonably cooperate and take all actions reasonably necessary (including providing all reasonable assistance to Successor Tenant) to effectuate the transfer of the Successor Assets and operational control of the
Facilities to Successor Tenant in an orderly manner so as to minimize to the maximum extent feasible any disruption to the continued orderly operation of the Facilities for their respective Primary Intended Use. Concurrently with the transfer of the
Successor Assets to Successor Tenant, (i) Tenant shall assign to Successor Tenant (and Successor Tenant shall assume) any then-effective Subleases or other agreements (to the extent such other agreements are assignable) relating to the Leased
Property, and (ii) Tenant shall vacate and surrender the Leased Property to Landlord and/or Successor Tenant in the condition required under this Lease. Notwithstanding the expiration of the Term and anything to the contrary herein, to the
extent that this Article XXXVI applies, unless Landlord consents to the contrary, until such time that Tenant transfers the Successor Assets and operational control of the Facilities to a Successor Tenant in accordance with the provisions of
this Article XXXVI, Tenant shall (or shall cause its Subsidiaries to) continue to (and Landlord shall permit Tenant to maintain possession of the Leased Property to the extent necessary to) operate the Facilities in accordance with the
applicable terms of this Lease and the course and manner in which Tenant (or its Subsidiaries) has operated the Facility prior to the end of the Term (including, but not limited to, the payment of Rent hereunder at the rate provided in
Section 36.1 (and not subject to Article XIX)); provided, however, that Tenant shall have no obligation (unless specifically agreed to by Tenant) to operate the Facility (or pay any such Rent) under such arrangement
for more than two (2) years after the Expiration Date. 

  
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 ARTICLE XXXVII 

ATTORNEYS’ FEES 
 If
Landlord or Tenant brings an action or other proceeding against the other to enforce or interpret any of the terms, covenants or conditions hereof or any instrument executed pursuant to this Lease, or by reason of any breach or default hereunder or
thereunder, the Party substantially prevailing in any such action or proceeding and any appeal thereupon shall be paid all of its costs and reasonable documented outside attorneys’ fees incurred therein. In addition to the foregoing and other
provisions of this Lease that specifically require Tenant to reimburse, pay or indemnify against Landlord’s attorneys’ fees, Tenant shall pay, as Additional Charges, all of Landlord’s reasonable documented outside attorneys’ fees
incurred in connection with the enforcement of this Lease (except to the extent provided above), including reasonable documented attorneys’ fees incurred in connection with the review, negotiation or documentation of any subletting, assignment,
or management arrangement or any consent requested in connection with such enforcement, and the collection of past due Rent. 
 ARTICLE
XXXVIII 
 BROKERS 

Tenant warrants that it has not had any contact or dealings with any Person or real estate broker which would give rise to the payment of any
fee or brokerage commission in connection with this Lease, and Tenant shall indemnify, protect, hold harmless and defend Landlord from and against any liability with respect to any fee or brokerage commission arising out of any act or omission of
Tenant. Landlord warrants that it has not had any contact or dealings with any Person or real estate broker which would give rise to the payment of any fee or brokerage commission in connection with this Lease, and Landlord shall indemnify, protect,
hold harmless and defend Tenant from and against any liability with respect to any fee or brokerage commission arising out of any act or omission of Landlord. 

ARTICLE XXXIX 

ANTI-TERRORISM REPRESENTATIONS 

Each Party hereby represents and warrants to the other Party that neither such representing Party nor, to its knowledge, any persons or
entities holding any Controlling legal or beneficial interest whatsoever in it are (i) the target of any sanctions program that is established by Executive Order of the President or published by the Office of Foreign Assets Control, U.S.
Department of the Treasury (“OFAC”); (ii) designated by the President or OFAC pursuant to the Trading with the Enemy Act, 50 U.S.C. App. § 5, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701-06, the Patriot Act, Public Law 107-56, Executive Order 13224 (September 23, 2001) or any Executive Order of the President issued pursuant to such statutes; or
(iii) named on the following list that is published by OFAC: “List of Specially Designated Nationals and Blocked Persons” (collectively, “Prohibited Persons”). Each Party hereby represents and warrants to the other
Party that no funds tendered to such other Party by such tendering Party under the terms of this Lease are or will be directly or indirectly derived from 

  
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activities that may contravene U.S. federal, state or international laws and regulations, including anti-money laundering laws. Neither Party will during the Term of this Lease knowingly engage
in any transactions or dealings, or knowingly be otherwise associated with, any Prohibited Persons in connection with the Leased Property. 

ARTICLE XL 
 LANDLORD
REIT PROTECTIONS 
 (a) The Parties intend that Rent and other amounts paid by Tenant hereunder will qualify as “rents from real
property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto and this Lease shall be interpreted consistent with this intent. 

(b) Anything contained in this Lease to the contrary notwithstanding, Tenant shall not without Landlord’s advance written consent
(i) sublet, assign or enter into a management arrangement for the Leased Property on any basis such that the rental or other amounts to be paid by the subtenant, assignee or manager thereunder would be based, in whole or in part, on either
(x) the income or profits derived by the business activities of the subtenant, assignee or manager or (y) any other formula such that any portion of any amount received by Landlord could reasonably be expected to cause any portion of the
amounts to fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto; (ii) furnish or render any services to the subtenant, assignee or manager or
manage or operate the Leased Property so subleased, assigned or managed; (iii) sublet, assign or enter into a management arrangement for the Leased Property to any Person (other than a “taxable REIT subsidiary” (within the meaning of
Section 856(l) of the Code, or any similar or successor provision thereto) of Landlord REIT) in which Tenant, Landlord or PropCo owns an interest, directly or indirectly (by applying constructive ownership rules set forth in Section 856(d)(5) of the
Code, or any similar or successor provision thereto); or (iv) sublet, assign or enter into a management arrangement for the Leased Property in any other manner which could reasonably be expected to cause any portion of the amounts received by
Landlord pursuant to this Lease or any Sublease to fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto, or which could reasonably be expected to
cause any other income of Landlord to fail to qualify as income described in Section 856(c)(2) of the Code, or any similar or successor provision thereto. As of the end of each Fiscal Quarter during the Term, Tenant shall deliver to Landlord a
certification, in the form attached hereto as Exhibit G, stating that Tenant has reviewed its transactions during such Fiscal Quarter and certifying that Tenant is in compliance with the provisions of this Article XL. The requirements
of this Article XL shall likewise apply to any further sublease, assignment or management arrangement by any subtenant, assignee or manager. 

(c) Anything contained in this Lease to the contrary notwithstanding, the Parties acknowledge and agree that Landlord, in its sole discretion,
may assign this Lease or any interest herein to another Person (including without limitation, a “taxable REIT subsidiary” (within the meaning of Section 856(l) of the Code, or any similar or successor provision thereto)) in order to
maintain Landlord REIT’s status as a “real estate investment trust” (within the meaning of Section 856(a) of the Code, or any similar or successor provision thereto); provided 

  
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however. Landlord shall be required to (i) comply with any applicable Legal Requirements related to such transfer and (ii) give Tenant notice of any such assignment; and
provided further, that any such assignment shall be subject to all of the rights of Tenant hereunder. 
 (d) Anything
contained in this Lease to the contrary notwithstanding, upon request of Landlord, Tenant shall cooperate with Landlord in good faith and at no cost or expense (other than de minimis cost) to Tenant, and provide such documentation and/or information
as may be in Tenant’s possession or under Tenant’s control and otherwise readily available to Tenant as shall be reasonably requested by Landlord in connection with verification of Landlord REIT’s “real estate investment
trust” (within the meaning of Section 856(a) of the Code, or any similar or successor provision thereto) compliance requirements. Anything contained in this Lease to the contrary notwithstanding, Tenant shall take such action as may be
requested by Landlord from time to time in order to ensure compliance with the Internal Revenue Service requirement that Rent allocable for purposes of Section 856 of the Code to personal property, if any, at the beginning and end of a calendar
year does not exceed fifteen percent (15%) of the total Rent due hereunder as long as such compliance does not (i) increase Tenant’s monetary obligations under this Lease by more than a de minimis extent or (ii) materially increase
Tenant’s nonmonetary obligations under this Lease or (iii) materially diminish Tenant’s rights under this Lease. 
 ARTICLE
XLI 
 MISCELLANEOUS 

41.1 Survival. Anything contained in this Lease to the contrary notwithstanding, all claims against,
and liabilities, obligations and indemnities of Tenant or Landlord arising or in respect of any period prior to the Expiration Date shall survive the Expiration Date. 

41.2 Severability. Subject to Section 1.2, if any term or provision of this Lease or any
application thereof shall be held invalid or unenforceable, the remainder of this Lease and any other application of such term or provision shall not be affected thereby. 

41.3 Non-Recourse. Tenant specifically agrees to look solely to the Leased
Property for recovery of any judgment from Landlord (and Landlord’s liability hereunder shall be limited solely to its interest in the Leased Property, and no recourse under or in respect of this Lease shall be had against any other assets of
Landlord whatsoever). The provision contained in the foregoing sentence is not intended to, and shall not, limit any right that Tenant might otherwise have to obtain injunctive relief against Landlord, or any action not involving the personal
liability of Landlord. In no event shall either Party ever be liable to the other Party for any indirect, consequential, lost profits, punitive, exemplary, statutory or treble damages suffered from whatever cause (other than, as to all such forms of
damages, (i) if Landlord has terminated this Lease, any damages with respect to Rent or Additional Charges as provided under Section 16.3(a) hereof, (ii) if Landlord has not terminated this Lease, any damages with respect to
Rent or Additional Charges as provided for herein, (iii) any amount of any Required Capital Expenditures not made pursuant to Section 10.5(a)(x) hereof, (iv) damages as provided under Section 16.3(c) hereof, (v) a claim
(including an indemnity claim) for recovery of any such forms of damages that the claiming party is required by a court of competent jurisdiction or the 

  
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expert to pay to a third party (other than any damages under or relating to any Fee Mortgage or Fee Mortgagee Documents (excluding claims under Section 32.4)), and
(vi) to the extent expressly provided under Section 32.4), and the Parties acknowledge and agree that the rights and remedies in this Lease, and all other rights and remedies at law and in equity, will be adequate in
all circumstances for any claims the parties might have with respect to damages. For the avoidance of doubt, any damages under or relating to any Fee Mortgage or Fee Mortgage Documents shall be deemed to be consequential damages hereunder, provided,
however that, notwithstanding the foregoing, it is expressly agreed that the following shall constitute direct damages hereunder: (i) amounts payable by Tenant pursuant to Section 16.7 resulting from the breach by Tenant of
any Additional Fee Mortgagee Requirements and (ii) out of pocket costs and expenses (including reasonable legal fees) incurred by a Landlord Indemnified Party (or, to the extent required to be reimbursed by a Landlord Indemnified Party
under a Fee Mortgage Document, incurred by or on behalf of any other Person) to defend (but not settle or pay any judgment resulting from) any investigative, administrative or judicial proceeding commenced or threatened as a result of a breach by
Tenant of any Additional Fee Mortgagee Requirement; provided that, notwithstanding the foregoing, in no event shall Tenant be required to pay any amounts to repay (or that are applied to reduce) the principal amount of any loan or debt secured by or
relating to a Fee Mortgage or any interest or fees on any such loan or debt. It is specifically agreed that no constituent member, partner, owner, director, officer or employee of a Party shall ever be personally liable for any judgment (in
respect of obligations under or in connection with this Lease) against, or for the payment of any monetary obligation under or in respect of this Lease, such Party, to the other Party (provided, this sentence shall not limit the obligations of
Guarantor expressly set forth in the MLSA). 
 41.4 Successors and Assigns. This Lease shall be
binding upon Landlord and its permitted successors and assigns and, subject to the provisions of Article XXII, upon Tenant and its successors and assigns. 

41.5 Governing Law. (a) THIS LEASE WAS NEGOTIATED IN THE STATE OF NEW YORK, WHICH STATE THE PARTIES AGREE HAS A
SUBSTANTIAL RELATIONSHIP TO THE PARTIES AND TO THE UNDERLYING TRANSACTION EMBODIED HEREBY. ACCORDINGLY, IN ALL RESPECTS THIS LEASE (AND ANY AGREEMENT FORMED PURSUANT TO THE TERMS HEREOF) SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE
WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO PRINCIPLES OR CONFLICTS OF LAW) AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA, EXCEPT THAT ALL PROVISIONS HEREOF RELATING TO THE CREATION OF THE LEASEHOLD ESTATE AND ALL
REMEDIES SET FORTH IN ARTICLE XVI RELATING TO RECOVERY OF POSSESSION OF THE LEASED PROPERTY (SUCH AS AN ACTION FOR UNLAWFUL DETAINER, IN REM ACTION OR OTHER SIMILAR ACTION) SHALL BE CONSTRUED AND ENFORCED ACCORDING TO, AND GOVERNED BY, THE
LAWS OF THE STATE OF THE STATE IN WHICH THE APPLICABLE FACILITY IS LOCATED. 
 (a) EXCEPT FOR (x) DISPUTES SPECIFICALLY PROVIDED IN
THIS LEASE TO BE REFERRED TO AN EXPERT VALUATION PROCESS PURSUANT TO SECTION 34.1 OR ARBITRATION PURSUANT TO SECTION 34.2 AND (y) 

  
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PROCEEDINGS PERTAINING TO THE PROVISIONS HEREOF RELATING TO THE CREATION OF THE LEASEHOLD ESTATE AND THE EXERCISE OF REMEDIES SET FORTH IN ARTICLE XVI RELATING TO RECOVERY OF POSSESSION OF
THE LEASED PROPERTY (SUCH AS AN ACTION FOR UNLAWFUL DETAINER, IN REM ACTION OR OTHER SIMILAR ACTION), ALL CLAIMS, DEMANDS, CONTROVERSIES, DISPUTES, ACTIONS OR CAUSES OF ACTION OF ANY NATURE OR CHARACTER ARISING OUT OF OR IN CONNECTION WITH, OR
RELATED TO, THIS LEASE, WHETHER LEGAL OR EQUITABLE, KNOWN OR UNKNOWN, CONTINGENT OR OTHERWISE SHALL BE RESOLVED IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND ANY APPELLATE COURTS THERETO, OR IF FEDERAL JURISDICTION IS
LACKING, THEN IN NEW YORK STATE SUPREME COURT, NEW YORK COUNTY (COMMERCIAL DIVISION) AND ANY APPELLATE COURTS THERETO. THE PARTIES AGREE THAT SERVICE OF PROCESS FOR PURPOSES OF ANY SUCH LITIGATION OR LEGAL PROCEEDING NEED NOT BE PERSONALLY SERVED OR
SERVED WITHIN THE STATE OF NEW YORK, BUT MAY BE SERVED WITH THE SAME EFFECT AS IF THE PARTY IN QUESTION WERE SERVED WITHIN THE STATE OF NEW YORK, BY GIVING NOTICE CONTAINING SUCH SERVICE TO THE INTENDED RECIPIENT (WITH COPIES TO COUNSEL) IN THE
MANNER PROVIDED IN ARTICLE XXXV. THIS PROVISION SHALL SURVIVE AND BE BINDING UPON THE PARTIES AFTER THIS LEASE IS NO LONGER IN EFFECT 

41.6 Waiver of Trial by Jury. EACH OF LANDLORD AND TENANT ACKNOWLEDGES THAT IT HAS HAD THE ADVICE OF
COUNSEL OF ITS CHOICE WITH RESPECT TO ITS RIGHTS TO TRIAL BY JURY UNDER THE CONSTITUTION OF THE UNITED STATES, THE STATE OF NEW YORK AND THE OTHER STATES IN WHICH THE FACILITIES ARE LOCATED. EACH OF LANDLORD AND TENANT HEREBY EXPRESSLY WAIVES ANY
RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (i) ARISING UNDER THIS LEASE (OR ANY AGREEMENT FORMED PURSUANT TO THE TERMS HEREOF) OR (ii) IN ANY MANNER CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF
LANDLORD AND TENANT WITH RESPECT TO THIS LEASE (OR ANY AGREEMENT FORMED PURSUANT TO THE TERMS HEREOF) OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH; OR THE TRANSACTIONS RELATED HERETO OR THERETO, IN EACH
CASE WHETHER NOW EXISTING OR HEREINAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE; EACH OF LANDLORD AND TENANT HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY A COURT TRIAL
WITHOUT A JURY, AND THAT EITHER PARTY MAY FILE A COPY OF THIS SECTION WITH ANY COURT AS CONCLUSIVE EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. 

41.7 Entire Agreement. This Lease (including the Exhibits and Schedules hereto), together with the
other Lease/MLSA Related Agreements, collectively constitute the entire and final agreement of the Parties with respect to the subject matter hereof, and may not be changed or modified except by an agreement in writing signed by the Parties. In
addition to the foregoing, it is agreed to by the Parties that no modification to this Lease shall be effective 

  
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without the written consent of (i) any applicable Fee Mortgagee, to the extent that such a modification would adversely affect such Fee Mortgagee and (ii) any applicable Permitted
Leasehold Mortgagee, to the extent that such a modification would adversely affect such Permitted Leasehold Mortgagee. Landlord and Tenant hereby agree that all prior or contemporaneous oral understandings, agreements or negotiations relative to the
leasing of the Leased Property (other than the other Lease/MLSA Related Agreements) are merged into and revoked by this Lease (together with the related agreements referenced above). 

41.8 Headings. All captions, titles and headings to sections, subsections, paragraphs, exhibits or
other divisions of this Lease, and the table of contents, are only for the convenience of the Parties and shall not be construed to have any effect or meaning with respect to the other contents of such sections, subsections, paragraphs, exhibits or
other divisions, such other content being controlling as to the agreement among the Parties. 
 41.9
Counterparts. This Lease may be executed in any number of counterparts, each of which shall be a valid and binding original, but all of which together shall constitute one and the same instrument. This Lease may be
effectuated by the exchange of electronic copies of signatures (e.g., .pdf), with electronic copies of this executed Lease having the same force and effect as original counterpart signatures hereto for all purposes. 

41.10 Interpretation. Both Landlord and Tenant have been represented by counsel and this Lease and
every provision hereof has been freely and fairly negotiated. Consequently, all provisions of this Lease shall be interpreted according to their fair meaning and shall not be strictly construed against any party. 

41.11 Deemed Consent. Each request for consent or approval under Sections 9.1, 10.2,
10.3(e), 13.1(a), 13.5, 14.1, 22.1, 22.2 and 22.3 and Article XI of this Lease shall be made in writing to either Tenant or Landlord, as applicable, and shall include all information necessary
for Tenant or Landlord, as applicable, to make an informed decision, and shall include the following in capital, bold and block letters: “FIRST NOTICE – THIS IS A REQUEST FOR CONSENT UNDER THAT CERTAIN LEASE (NON-CPLV). THE FOLLOWING REQUEST REQUIRES A RESPONSE WITHIN FIFTEEN (15) BUSINESS DAYS OF RECEIPT.” If the party to whom such a request is sent does not approve or reject the proposed
matter within fifteen (15) Business Days of receipt of such notice and all necessary information, the requesting party may request a consent again by delivery of a notice including the following in capital, bold and block letters:
“SECOND NOTICE – THIS IS A SECOND REQUEST FOR CONSENT UNDER THAT CERTAIN LEASE (NON-CPLV). THE FOLLOWING REQUEST REQUIRES A RESPONSE WITHIN FIVE (5) BUSINESS DAYS OF
RECEIPT.” If the party to whom such a request is sent does not approve or reject the proposed matter within five (5) Business Days of receipt of such notice and all necessary information, the requesting party may request a consent
again by delivery of a notice including the following in capital, bold and block letters: “FINAL NOTICE—THIS IS A THIRD REQUEST FOR CONSENT UNDER THAT CERTAIN LEASE (NON-CPLV). THE FOLLOWING
REQUEST REQUIRES A RESPONSE WITHIN FIVE (5) BUSINESS DAYS OF RECEIPT. FAILURE TO RESPOND WITHIN FIVE (5) BUSINESS DAYS HEREOF WILL BE DEEMED AN APPROVAL OF THE REQUEST.” If the party to whom such a
request is sent still does not approve or reject the proposed matter within five (5) Business Days 

  
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of receipt of such final notice, such party shall be deemed to have approved the proposed matter. Notwithstanding the foregoing, if the MLSA is in effect at the time any such notice is provided
to Tenant hereunder, Tenant shall not be deemed to have approved such proposed matter if such notice was not also addressed and delivered to Manager and CEC in accordance with the MLSA. 

41.12 Further Assurances. The Parties agree to promptly sign all documents reasonably requested to
give effect to the provisions of this Lease. In addition, Landlord agrees to, at Tenant’s sole cost and expense, reasonably cooperate with all applicable Gaming Authorities and Liquor Authorities in connection with the administration of their
regulatory jurisdiction over Tenant, Tenant’s direct and indirect parent(s) and their respective Subsidiaries, if any, including the provision of such documents and other information as may be requested by such Gaming Authorities or Liquor
Authorities relating to Tenant, Tenant’s direct and indirect parent(s) or any of their respective Subsidiaries, if any, or to this Lease and which are within Landlord’s reasonable control to obtain and provide. 

41.13 Gaming Regulations. Notwithstanding anything to the contrary in this Lease, this Lease and any
agreement formed pursuant to the terms hereof are subject to all applicable Gaming Regulations and all applicable laws involving the sale, distribution and possession of alcoholic beverages (the “Liquor Laws”). Without limiting the
foregoing, each of Tenant and Landlord acknowledges that (i) it is subject to being called forward by any applicable Gaming Authority or governmental authority enforcing the Liquor Laws (the “Liquor Authority”) with
jurisdiction over this Lease or the Facility, in each of their discretion, for licensing or a finding of suitability or to file or provide other information, and (ii) all rights, remedies and powers under this Lease and any agreement formed
pursuant to the terms hereof, including with respect to the entry into and ownership and operation of a Gaming Facility, and the possession or control of Gaming equipment, alcoholic beverages or a Gaming License or liquor license, may be exercised
only to the extent that the exercise thereof does not violate any applicable provisions of the Gaming Regulations and Liquor Laws and only to the extent that required approvals (including prior approvals) are obtained from the requisite governmental
authorities. 
 Notwithstanding anything to the contrary in this Lease or any agreement formed pursuant to the terms hereof, (subject to
Section 41.12) each of Tenant, Landlord, and each of Tenant’s or Landlord’s successors and assigns agree to cooperate with each Gaming Authority and each Liquor Authority in connection with the administration of
their regulatory jurisdiction over the Parties, including, without limitation, the provision of such documents or other information as may be requested by any such Gaming Authorities and/or Liquor Authorities relating to Tenant, Landlord,
Tenant’s or Landlord’s successors and assigns or to this Lease or any agreement formed pursuant to the terms hereof. If necessary to comply with Gaming Regulations with respect to a specific Facility (or Facilities), the Parties agree to
create a Severance Lease with respect to such Facility (or Facilities) which, for avoidance of doubt, shall be cross-defaulted with this Lease. 

If there shall occur a Licensing Event, then the Party with respect to which such Licensing Event occurs shall notify the other Party, as
promptly as practicable after becoming aware of such Licensing Event (but in no event later than twenty (20) days after becoming aware of such Licensing Event). In such event, the Party with respect to which such Licensing Event has occurred,
shall and shall cause any applicable Affiliates to use commercially reasonable 

  
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efforts to resolve such Licensing Event within the time period required by the applicable Gaming Authorities by submitting to investigation by the relevant Gaming Authorities and cooperating with
any reasonable requests made by such Gaming Authorities (including filing requested forms and delivering information to the Gaming Authorities). If the Party with respect to which such Licensing Event has occurred cannot otherwise resolve the
Licensing Event within the time period required by the applicable Gaming Authorities and any aspect of such Licensing Event is attributable to any Person(s) other than such Party, then such Party shall disassociate with the applicable Persons to
resolve the Licensing Event. It shall be a material breach of this Lease by Landlord if a Licensing Event with respect to Landlord shall occur and is not resolved in accordance with this Section 41.13 within the later of
(i) thirty (30) days or (ii) such additional time period as may be permitted by the applicable Gaming Authorities. 
 41.14
Certain Provisions of Nevada Law. Landlord shall, pursuant to Section 108.2405(1)(b) of the Nevada Revised Statutes (“NRS”), record a written notice of waiver of Landlord’s rights set forth in
NRS 108.234 with the office of the recorder of Clark County, Nevada, before the commencement of construction of each work of improvement with respect to the Leased Property by Tenant or caused by Tenant. Pursuant to NRS 108.2405(2), Landlord
shall serve such notice by certified mail, return receipt requested, upon the prime contractor of such work of improvement and all other lien claimants who may give the owner a notice of right to lien pursuant to NRS 108.245, within ten
(10) days after Landlord’s receipt of a notice of right to lien or ten (10) days after the date on which the notice of waiver is recorded. 

41.15 Certain Provisions of New Jersey Law. 

(a) This Lease and the parties hereto, in each case as it relates to the New Jersey Facilities only, are subject to compliance with the
requirements of the New Jersey Casino Control Act, N.J.S.A. 5:12-1 et seq., (the “New Jersey Act”), and the regulations promulgated thereunder. In accordance with N.J.S.A. 5:12-82c, this Lease or any further amendments thereto relating to New Jersey Facilities must be filed with the New Jersey Casino Control Commission (the “Commission”) and the New Jersey Division of
Gaming Enforcement (the “Division”) and, to the extent that this Lease or any further amendment thereto relates to the New Jersey Facilities, the same shall only be effective as to the New Jersey Facilities once if approved by the
Commission. 
 (b) The parties acknowledge and agree that the Lease and any transfers or assignments under the Lease, in each case to the
extent the same relate to the New Jersey Facilities, are subject to the applicable provisions of N.J.S.A. 5:12-82 et. seq. To the extent required by N.J.S.A.
5:12-82c(10), with respect to the New Jersey Facilities only, each party to the Lease is jointly and severally liable for all acts, omissions and violations of the New Jersey Act by any party, regardless of
actual knowledge of such act, omission or violation. Notwithstanding the foregoing, the party violating the New Jersey Act shall indemnify the non-violating party for any liability incurred by the non-violating party as a result of any such violation in a manner consistent with Article XXI of this Lease; provided, however, that neither party shall be required to indemnify the other party for any
liabilities relating to, arising out of or resulting from any required sale of a New Jersey Facility pursuant to paragraphs (d-g) of this Section 41.15 below (including, without
limitation, the payment of the New Jersey Facility Fair Market Value, as finally determined in accordance with this Section 41.15, or any closing costs associated therewith). 

  
 161 

 (c) Pursuant to the provisions of N.J.S.A. 5:12-104b,
this Lease, as it relates to the New Jersey Facilities only, may be terminated by the Division or Commission without liability on the part of Tenant or Landlord, if the Division or Commission disapproves of its terms, including the terms of
compensation, or of the qualifications of Landlord or Tenant, their respective owners, officers, directors or employees based on the standards contained in N.J.S.A. 5:12-86. 

(d) In accordance with the requirements of N.J.S.A. 5:12-82c(5), if at any time during the Term (so
long as a New Jersey Facility remains a Facility under this Lease), Landlord or any person associated with Landlord (other than Tenant or any subtenant thereof), is found by the Director of the Division to be unsuitable to be associated with a
casino enterprise in New Jersey, and is not removed from such association in a manner acceptable to the Division, then upon written notice delivered by Tenant to Landlord (the “New Jersey Purchase Notice”), following such final
unstayed decision of the Division which provides that a purchase of Landlord’s interest in a New Jersey Facility is required, Tenant may elect either (a) to require Landlord to sell all (but not less than all) of Landlord’s interest
in such New Jersey Facility (but no other Facility under the Lease) to a third party pursuant to a Severance Lease; provided, that the Division does not object, or (b) to purchase all (but not less than all) of Landlord’s interest in an
applicable New Jersey Facility (but no other Facility under the Lease) for an amount equal to one hundred percent (100%) of the New Jersey Fair Market Value (as finally determined in accordance with paragraph (e) of this
Section 14.15 below), which amount shall be payable in cash. 
 (e) The “New Jersey Fair Market
Value” shall be an amount equal to the fair market value of an applicable New Jersey Facility based on the amount that would be paid by a willing purchaser to a willing seller if neither were under any compulsion to buy or sell. If the
parties are unable to mutually agree upon the New Jersey Fair Market Value within thirty (30) days after delivery of the New Jersey Purchase Notice, the New Jersey Fair Market Value will be determined by Experts appointed in accordance with
Section 34.1 in which case Landlord and Tenant shall each submit to the Experts their respective determinations of the New Jersey Fair Market Value. The Experts may only select either the New Jersey Fair Market Value set
forth by Landlord or by Tenant and may not select any other amount or make any other determination (and the Experts shall be so instructed). The Experts shall notify the parties in writing within thirty (30) days of the submission of the matter
to the Experts of their selection of either Tenant’s or Landlord’s determination of the New Jersey Fair Market Value as the conclusive determination of the New Jersey Fair Market Value. 

(f) In the event that Tenant has elected to purchase a New Jersey Facility, the closing of the purchase and sale of such New Jersey Facility
shall occur not later than ninety (90) days after determination of the New Jersey Fair Market Value, or such other time as may be directed by the New Jersey Gaming Authorities. At such closing, Landlord shall deliver to Tenant all fee and
leasehold title to the applicable New Jersey Facility, free and clear of any liens, claims or other encumbrances other than (A) any liens and encumbrances created or in place as of the date of this Lease and (B) any liens and encumbrances
caused by Tenant or as 

  
 162 

 
permitted by the Lease. Landlord shall use all its commercially reasonable efforts to deliver title to the applicable New Jersey Facility in the condition required in this
Section 41.15(f). All closing costs and expenses, including any applicable real property transfer taxes or fees, of conveying a New Jersey Facility to Tenant shall be allocated between Landlord and Tenant in the manner the
same are customarily allocated between a seller and buyer of similar real property located in the State of New Jersey. Upon such closing the Lease, as it relates to the applicable New Jersey Facility only, shall automatically terminate and be of no
further force and effect, and Rent under the Lease from and after the date of such closing shall be reduced in accordance with the Rent Reduction Amount. Nothing in this Section 41.15 shall be deemed to supersede any
provision of the Lease which expressly survives the termination of the Lease, and nothing contained in this Section 41.15 shall be deemed to release either party from any obligation or liability relating to any Facility
other than an applicable New Jersey Facility or any obligation or liability relating to such applicable New Jersey Facility which shall have arisen under the Lease prior to the effective date of the sale to Tenant of the applicable New Jersey
Facility. 
 (g) In the event that Tenant has elected to require Landlord to sell a New Jersey Facility to a third-party, in connection with
the closing of the purchase and sale of such New Jersey Facility from Landlord to such third-party, Tenant and such third-party shall enter into a Severance Lease and the Lease shall be amended to reflect the removal of the applicable New Jersey
Facility from the Lease. 
 41.16 Savings Clause. If for any reason this Lease is determined by a
court of competent jurisdiction to be invalid as to any space that would otherwise be a part of the Leased Property and that is subject to a pre-existing lease as of the Effective Date (between Tenant’s
predecessor in interest prior to the Effective Date, as landlord, and a third party as tenant), then Landlord shall be deemed to be the landlord under such pre-existing lease, and the Parties agree that Tenant
shall be deemed to be the collection agent for Landlord for purposes of collecting rent and other amounts payable by the tenant under such pre-existing lease and shall remit the applicable collected amounts to
Landlord. In such event, the Rent payable hereunder shall be deemed to be reduced by any amounts so collected by Tenant and remitted to Landlord with respect to any such pre-existing lease. 

41.17 Integration with Other Documents. Each of Tenant and Landlord acknowledge and agree that
certain operating efficiencies and value will be achieved as a result of Tenant’s and Other Tenants’ lease of the Leased Property and the Other Leased Property and the engagement by Tenant and Other Tenants of Manager under the MLSA and
“Manager” under and as defined in each Other MLSA and the engagement of Manager and/or its Affiliates to operate and manage the Facilities, the Other Leased Property and the Other Managed Resorts (as defined in each of the MLSA and the
Other MLSA) that would not be possible to achieve if unrelated managers were engaged to operate each of the Leased Property, the Other Leased Property and the Other Managed Resorts. Each of Tenant and Landlord acknowledge and agree that the Parties
would not enter into this Lease (or the MLSA or the Other MLSA) absent the understanding and agreement of the Parties that the entire ownership, operation, management, lease and lease guaranty relationship with respect to the Leased Property,
including (without limitation) the lease of the Leased Property pursuant to this Lease, the use of the Managed Facilities IP (as defined in the MLSA) and the use of the Total Rewards Program, together with the other related intellectual property
arrangements contemplated under the MLSA and the other 

  
 163 

 
covenants, obligations and agreements of the Parties hereunder and under the MLSA, form part of a single integrated transaction. Accordingly, it is the express intention and agreement of each of
Tenant and Landlord that (i) each of the provisions of the MLSA, including the management and lease guaranty rights and obligations thereunder, form part of a single integrated agreement and shall not be or deemed to be separate or severable
agreements and (ii) the Parties would not be entering into this Lease without entering into the MLSA (and vice versa) (or into any of the other Lease/MLSA Related Agreements without entering into all of the Lease/MLSA Related Agreements) and in
the event of any bankruptcy, insolvency or dissolution proceedings in respect of any Party, no Party will reject, move to reject, or join or support any other Party in attempting to reject any one of this Lease or the MLSA or any other Lease/MLSA
Related Agreement without rejecting the other agreement as if each of this Lease and the MLSA and each other Lease/MLSA Related Agreement were one integrated agreement and not separable. 

41.18 Manager. Each of Tenant and Landlord acknowledge and agree that Manager may not be terminated
as the manager of the Leased Property for any reason except as permitted under the MLSA. 
 41.19 Non-Consented Lease Termination. Each of Tenant and Landlord acknowledge and agree that in the event of a Non-Consented Lease Termination, Article
XXI of the MLSA shall apply and each of the parties shall comply with such Article XXI of the MLSA. 
 41.20 Certain Provisions
of Louisiana Law. Without limiting the choice of law provision set forth in Section 41.5, the following provisions shall apply to the extent that the laws of the State of Louisiana govern the
interpretation or enforcement of this Lease with respect to any Leased Property located in the State of Louisiana: 
 (a) Upon termination of
Tenant’s right of occupancy under the terms of this Lease, Landlord or its agent may immediately institute eviction proceedings in accordance with Chapter 2 of Title XI of the Louisiana Code of Civil Procedure. Tenant specifically waives all
notices to vacate, including but not limited to the notice to vacate specified in Louisiana Civil Code of Procedure Article 4701, or any successor provision of law. 

(b) Except as expressly set forth in Section 10.4 hereof, Tenant waives any and all claims for payment or other
compensation, whether during the Term or at the termination of the Lease, for the loss of ownership to Landlord of any property located in or on the Land, including without limitation (i) any buildings, improvements or other constructions, or
(ii) any things incorporated in or attached so as to become a component part of the immovable property. 
 (c) In accordance with
La. R.S. 9:3221, Tenant hereby assumes full responsibility for the condition of the Leased Property, all buildings and improvements now or hereafter located thereon and all component parts thereof. Accordingly, except as expressly and
specifically set forth herein, Landlord shall have no liability for injury caused by any defect therein to Tenant or anyone on the Leased Property who derives his or her right to be thereon from Tenant. 

  
 164 

 (d) TENANT ACKNOWLEDGES THAT THE WAIVERS OF WARRANTY IN THIS LEASE HAVE BEEN BROUGHT TO THE
ATTENTION OF TENANT AND ARE GRANTED KNOWINGLY AND VOLUNTARILY. 
 (e) Tenant shall have no authority or power, express or implied, to create
or cause any mechanic’s or materialmen’s lien, charge or encumbrance of any kind against the Leased Property or any portion thereof. Neither Landlord’s consent (nor contribution, if any) to the performance, scope or cost of any work
to be performed by or on behalf of Tenant shall make Landlord liable for or subject Landlord’s interest in the Leased Property to any claims granted by the provisions of La. R.S. § 9:4801 et seq. (as the same may be amended, revised,
recodified, replaced or supplemented from time to time), and Landlord expressly disclaims any such liability or claims. 
 41.21
Certain Provisions of Indiana Law. Tenant’s obligation to pay rent is without relief from valuation and appraisement laws. 

41.22 Confidential Information. Each Party hereby agrees to, and to cause its Representatives to,
maintain the confidentiality of all non-public information received pursuant to this Lease; provided that nothing herein shall prevent any Party from disclosing any such
non-public information (a) in the case of Landlord, to PropCo 1, PropCo and Landlord REIT and any Affiliate thereof, (b) in the case of Tenant, to CEOC, CEC and any Affiliate thereof,
(c) in any legal, judicial or administrative proceeding or other compulsory process or otherwise as required by applicable Legal Requirements (in which case the disclosing Party shall promptly notify the other Parties, in advance, to the extent
permitted by law), (d) upon the request or demand of any regulatory authority having jurisdiction over a Party or its affiliates (in which case the disclosing Party shall, other than with respect to routine, periodic inspections by such
regulatory authority, promptly notify the other Parties, in advance, to the extent permitted by law), (e) to its Representatives who are informed of the confidential nature of such information and have agreed to keep such information
confidential (and the disclosing Party shall be responsible for such Representatives’ compliance therewith), (f) to the extent any such information becomes publicly available other than by reason of disclosure by the disclosing Party or
any of its respective Representatives in breach of this Section 41.22, (g) to the extent that such information is received by such Party from a third party that is not, to such Party’s knowledge, subject to
confidentiality obligations owing to the other Parties or any of their respective affiliates or related parties, (h) to the extent that such information is independently developed by such Party or (i) as permitted under the first sentence
of Section 23.2(a). Each of the Parties acknowledges that it and its Representatives may receive material non-public information with respect to the other Party and its Affiliates and that each such
Party is aware (and will so advise its Representatives) that federal and state securities laws and other applicable laws may impose restrictions on purchasing, selling, engaging in transactions or otherwise trading in securities of the other Party
and its Affiliates with respect to which such Party or its Representatives has received material non-public information so long as such information remains material
non-public information. 
 41.23 Time of Essence. TIME IS
OF THE ESSENCE OF THIS LEASE AND EACH PROVISION HEREOF IN WHICH TIME OF PERFORMANCE IS ESTABLISHED. 

  
 165 

 41.24 Consents, Approvals and Notices. 

(a) All consents and approvals that may be given under this Lease shall, as a condition of their effectiveness, be in writing. The granting of
any consent or approval by Landlord or Tenant to the performance of any act by Tenant or Landlord requiring the consent or approval of Landlord or Tenant under any of the terms or provisions of this Lease shall relate only to the specified act or
acts thereby consented to or approved and, unless otherwise specified, shall not be deemed a waiver of the necessity for such consent or approval for the same or any similar act in the future, and/or the failure on the part of Landlord or Tenant to
object to any such action taken by Tenant or Landlord without the consent or approval of the other Party, shall not be deemed a waiver of their right to require such consent or approval for any further similar act; and Tenant hereby expressly
covenants and agrees that as to all matters requiring Landlord’s consent or approval under any of the terms of this Lease, Tenant shall secure such consent or approval for each and every happening of the event requiring such consent or
approval, and shall not claim any waiver on the part of Landlord of the requirement to secure such consent or approval. 
 (b) Each Party
acknowledges that in granting any consents, approvals or authorizations under this Lease, and in providing any advice, assistance, recommendation or direction under this Lease, neither such Party nor any Affiliates thereof guarantee success or a
satisfactory result from the subject of such consent, approval, authorization, advice, assistance, recommendation or direction. Accordingly, each Party agrees that neither such Party nor any of its Affiliates shall have any liability whatsoever to
any other Party or any third person by reason of: (i) any consent, approval or authorization, or advice, assistance, recommendation or direction, given or withheld; or (ii) any delay or failure to provide any consent, approval or
authorization, or advice, assistance, recommendation or direction (except in the event of a breach of a covenant herein not to unreasonably withhold or delay any consent or approval); provided, however, each agrees to act in good faith
when dealing with or providing any advice, consent, assistance, recommendation or direction. 
 (c) Any notice, report or information
required to be delivered by Tenant hereunder may be delivered collectively with any other notices, reports or information required to be delivered by Tenant hereunder as part of a single report, notice or communication. Any such notice, report or
information may be delivered to Landlord by Tenant providing a representative of Landlord with access to Tenant’s or its Affiliate’s electronic databases or other information systems containing the applicable information and notice that
information has been posted on such database or system. 
 41.25 No Release of Tenant or Guarantor.
Notwithstanding anything to the contrary set forth in this Lease, neither Tenant nor Guarantor shall be released from their respective obligations under the MLSA, except as and to the extent expressly provided in the MLSA. 

41.26 Tenant and Landlord; Joint and Several. Each applicable fee owning entity that comprises
Landlord leases its applicable portion of the Leased Property (as set forth on Exhibit A attached hereto) to the corresponding applicable operating entity that comprises Tenant (as set forth on Exhibit A attached hereto), and, accordingly, each such
operating entity or entities shall have exclusive rights to act as Tenant with respect to the applicable portion of 

  
 166 

 
the Leased Property leased to such operating entity as set forth on Exhibit A attached hereto. However, all operating entities shall be jointly and severally liable for all of the obligations of
all operating entities under this Lease. In addition, all fee owning entities shall be jointly and severally liable for all of the obligations of all fee owning entities under this Lease. 

41.27 Suretyship Waivers. 

(a) Each applicable entity comprising Tenant that is a party hereto hereby irrevocably waives and agrees not to assert or take advantage of
any of the following defenses to any obligation under this Lease or under any other document executed, or to be executed, by it in connection herewith: (i) any defense that may arise by reason of the incapacity, lack of authority, death or
disability of any Person, or revocation or repudiation hereof by any Person, or the failure of any entity comprising Landlord or Tenant to file or enforce a claim or cause of action against any other Person or the estate (either in administration,
bankruptcy, or any other proceeding) of any other Person; (ii) diligence, presentment, notice of acceptance, notice of dishonor, notice of presentment, or demand for payment of or performance of the obligations under this Lease or under any
other document executed, or to be executed, in connection herewith and all other suretyship defenses generally; (iii) any defense that may arise by reason of any action required by any statute to be taken against any other entity comprising
Tenant; (iv) any defense that may arise by reason of the dissolution or termination of the existence of any other entity comprising Tenant; (v) any defense that may arise by reason of the voluntary or involuntary liquidation, sale, or
other disposition of all or substantially all of the assets of any other entity comprising Tenant; (vi) any defense that may arise by reason of the voluntary or involuntary receivership, insolvency, bankruptcy, assignment for the benefit of
creditors, reorganization, assignment, composition, or readjustment of, or any similar proceeding affecting, any other entity comprising Tenant, or any of the assets of any other entity comprising Tenant; (vii) any right of subrogation,
indemnity or reimbursement against any other entity comprising Tenant at any time during which a Tenant Event of Default has occurred and is continuing or until all obligations to Landlord have been irrevocably paid and satisfied in full;
(viii) any and all rights and defenses arising out of an election of remedies by Landlord, even though that election of remedies might impair or destroy any right, if any, of any other entity comprising tenant of subrogation, indemnity or
reimbursement; (ix) any defense based upon Landlord’s failure to disclose to any entity comprising Tenant any information concerning any other entity comprising Tenant’s financial condition or any other circumstances bearing on
Tenant’s ability to pay all sums payable under or in respect of this Lease or any other document executed, or to be executed, by it in connection herewith; and (x) any defense based upon any statute or rule of law which provides that the
obligation of a surety must be neither larger in amount nor in any other respects more burdensome than that of a principal. Additionally, to the extent permitted by Legal Requirements, each entity comprising Tenant waives all rights, legal and
equitable, it may now or hereafter have to require marshaling of assets or to require foreclosure sales of assets in a particular order, including any rights provided by NRS 100.040 and 100.050, as such sections may be amended or recodified from
time to time. Each successor and assign of each entity comprising Tenant agrees that it shall be bound by the above waiver, as if it had given the waiver itself. 

(b) Each applicable entity comprising Landlord that is a party hereto hereby irrevocably waives and agrees not to assert or take advantage of
any of the following defenses to 

  
 167 

 
any obligation under this Lease or under any other document executed, or to be executed, by it in connection herewith: (i) any defense that may arise by reason of the incapacity, lack of
authority, death or disability of any Person, or revocation or repudiation hereof by any Person, or the failure of any entity comprising Landlord or Tenant to file or enforce a claim or cause of action against any other Person or the estate (either
in administration, bankruptcy, or any other proceeding) of any other Person; (ii) diligence, presentment, notice of acceptance, notice of dishonor, notice of presentment, or demand for payment of or performance of the obligations under this
Lease or under any other document executed, or to be executed, in connection herewith and all other suretyship defenses generally; (iii) any defense that may arise by reason of any action required by any statute to be taken against any other
entity comprising Landlord; (iv) any defense that may arise by reason of the dissolution or termination of the existence of any other entity comprising Landlord; (v) any defense that may arise by reason of the voluntary or involuntary
liquidation, sale, or other disposition of all or substantially all of the assets of any other entity comprising Landlord; (vi) any defense that may arise by reason of the voluntary or involuntary receivership, insolvency, bankruptcy,
assignment for the benefit of creditors, reorganization, assignment, composition, or readjustment of, or any similar proceeding affecting, any other entity comprising Landlord, or any of the assets of any other entity comprising Landlord;
(vii) any right of subrogation, indemnity or reimbursement against any other entity comprising Landlord at any time during which a default hereunder by Landlord has occurred and is continuing or until all obligations to Tenant have been
irrevocably paid and satisfied in full; (viii) any and all rights and defenses arising out of an election of remedies by Tenant, even though that election of remedies might impair or destroy any right, if any, of any other entity comprising
tenant of subrogation, indemnity or reimbursement; (ix) any defense based upon Tenant’s failure to disclose to any entity comprising Landlord any information concerning any other entity comprising Landlord’s financial condition or any
other circumstances bearing on Landlord’s ability to pay all sums payable under or in respect of this Lease or any other document executed, or to be executed, by it in connection herewith; and (x) any defense based upon any statute or rule
of law which provides that the obligation of a surety must be neither larger in amount nor in any other respects more burdensome than that of a principal. Each successor and assign of each entity comprising Landlord agrees that it shall be bound by
the above waiver, as if it had given the waiver itself. 
 41.28 Amendments. This Lease may not be amended
except by a written agreement executed by all Parties hereto. 
 SIGNATURES ON FOLLOWING PAGES 

  
 168 

 IN WITNESS WHEREOF, this Lease (Non-CPLV) has been
executed by Landlord and Tenant as of the date first written above. 
 LANDLORD: 

 

			
	 HORSESHOE COUNCIL BLUFFS LLC,

a Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 HARRAH’S COUNCIL BLUFFS LLC,

a Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 HARRAH’S METROPOLIS LLC,

a Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 HORSESHOE SOUTHERN INDIANA LLC,

a Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

 [Signatures continue on following pages] 

  
 Signature Page to
Lease (Non-CPLV) 

			
	 NEW HORSESHOE HAMMOND LLC,
 a
Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 HORSESHOE BOSSIER CITY PROP LLC,

a Louisiana limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 HARRAH’S BOSSIER CITY LLC,

a Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 NEW HARRAH’S NORTH KANSAS CITY LLC,

a Delaware limited liability company

			
		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

 [Signatures continue on following pages] 

  
 Signature Page to
Lease (Non-CPLV) 

			
	 GRAND BILOXI LLC,
 a Delaware
limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 HORSESHOE TUNICA LLC,
 a
Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 NEW TUNICA ROADHOUSE LLC,
 a
Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 CAESARS ATLANTIC CITY LLC,
 a
Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 BALLY’S ATLANTIC CITY LLC,

a Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

 [Signatures continue on following pages] 

  
 Signature Page to
Lease (Non-CPLV) 

			
	 HARRAH’S LAKE TAHOE LLC,

a Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 HARVEY’S LAKE TAHOE LLC,

a Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 HARRAH’S RENO LLC,
 a
Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 BLUEGRASS DOWNS PROPERTY OWNER LLC,

a Delaware limited liability company

			
		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

 [Signatures continue on following pages] 

  
 Signature Page to
Lease (Non-CPLV) 

			
	 VEGAS DEVELOPMENT LLC,
 a
Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 VEGAS OPERATING PROPERTY LLC,

a Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 MISCELLANEOUS LAND LLC,
 a
Delaware limited liability company

			
		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

  

			
	 PROPCO GULFPORT LLC,
 a
Delaware limited liability company

		
	By:  	 	  

		 	 Name: John Payne
 Title:
President

 [Signatures continue on following pages] 

  
 Signature Page to
Lease (Non-CPLV) 

 TENANT: 
  

			
	 HBR REALTY COMPANY LLC,
 a
Nevada limited liability company

		
	By:  	 	  

		 	 Name:

Title:

  

			
	 HARVEYS IOWA MANAGEMENT

COMPANY LLC,
 a Nevada limited liability
company

			
		
	By:  	 	  

		 	 Name:

Title:

  

			
	 CAESARS ENTERTAINMENT OPERATING

COMPANY, INC.,
 a Delaware
corporation

			
		
	By:  	 	  

		 	 Name:
 Title:

 [Signatures continue on following pages] 

  
 Signature Page to
Lease (Non-CPLV) 

			
	 SOUTHERN ILLINOIS RIVERBOAT/CASINO

CRUISES LLC,
 an Illinois limited liability
company

			
		
	By:  	 	  

		 	 Name:

Title:

  

			
	 CAESARS RIVERBOAT CASINO, LLC,

an Indiana limited liability company

		
	By:  	 	  

		 	 Name:

Title:

  

			
	 ROMAN HOLDING COMPANY
 OF
INDIANA LLC,
 an Indiana limited liability company

		
	By:  	 	  

		 	 Name:

Title:

  

			
	 HORSESHOE HAMMOND, LLC,
 an
Indiana limited liability company

		
	By:  	 	  

		 	 Name:
 Title:

 [Signatures continue on following pages] 

  
 Signature Page to
Lease (Non-CPLV) 

			
	 HORSESHOE ENTERTAINMENT,
 a
Louisiana limited partnership

		
	By:  	 	 New Gaming Capital Partnership,
 a Nevada
limited partnership
 Its general partner

					
			
		 	By:  	 	 Horseshoe GP, LLC,
 a Nevada limited
liability company
 Its general partner

					
		
		 	By:                                   
                              
		 	 Name:
 Title:

  

			
	 HARRAH’S BOSSIER CITY

INVESTMENT COMPANY, L.L.C.,
 a Louisiana limited liability
company

			
		
	By:  	 	  

		 	 Name:

Title:

  

			
	 HARRAH’S NORTH KANSAS CITY LLC,

a Missouri limited liability company

		
	By:  	 	  

		 	 Name:

Title:

  

			
	 GRAND CASINOS OF BILOXI, LLC,

a Minnesota limited liability company

		
	By:  	 	  

		 	 Name:
 Title:

 [Signatures continue on following pages] 

  
 Signature Page to
Lease (Non-CPLV) 

			
	 ROBINSON PROPERTY GROUP LLC,

a Mississippi limited liability company

		
	By:  	 	  

		 	 Name:

Title:

  

			
	 TUNICA ROADHOUSE LLC,
 a
Delaware limited liability company

		
	By:  	 	  

		 	 Name:

Title:

  

			
	 BOARDWALK REGENCY LLC,
 a New
Jersey limited liability company

		
	By:  	 	  

		 	 Name:
 Title:

 [Signatures continue on following pages] 

  
 Signature Page to
Lease (Non-CPLV) 

			
	 CAESARS NEW JERSEY LLC,
 a
New Jersey limited liability company

		
	By:  	 	  

		 	 Name:

Title:

  

			
	 BALLY’S PARK PLACE LLC,

a New Jersey limited liability company

		
	By:  	 	  

		 	 Name:

Title:

  

			
	 HARVEYS TAHOE MANAGEMENT

COMPANY LLC,
 a Nevada limited liability
company

			
		
	By:  	 	  

		 	 Name:

Title:

  

			
	 HOLE IN THE WALL, LLC,
 a
Nevada limited liability company

		
	By:  	 	  

		 	 Name:
 Title:

 [Signatures continue on following pages] 

 
 Signature Page to Lease (Non-CPLV) 

			
	 CASINO COMPUTER

PROGRAMMING, INC.,
 an Indiana corporation

		
	By:    	 	  

		 	 Name:
 Title:

  

			
	 HARVEYS BR MANAGEMENT

COMPANY, INC.,
 a Nevada corporation

		
	By:    	 	  

		 	 Name:
 Title:

 [Signatures continue on following pages] 

  
 Signature Page to
Lease (Non-CPLV) 

			
	 CEOC, LLC,
 a Delaware
limited liability company

		
	 By:    
	 	  

		 	 Name:

Title:

 [Signatures continue on following page] 

  
 Signature Page to
Lease (Non-CPLV) 

 The undersigned has executed this Lease (Non-CPLV) solely for the purpose
of acknowledging and agreeing to be bound by the penultimate paragraph of Section 1.1 hereof. 
  

			
	 PROPCO TRS:
  

Propco TRS LLC

		
	By:    	 	  

		 	 Name: John Payne
 Title:
President

  
 Signature Page to
Lease (Non-CPLV) 

 EXHIBIT A 

FACILITIES 
  

									
	 No.
	 	 Property
	 	 State
	 	 Fee Owner
	 	 Operating Entity

					
	1.	 	Horseshoe Council Bluffs	 	Iowa	 	Horseshoe Council Bluffs LLC	 	HBR Realty Company LLC
					
	2.	 	Harrah’s Council Bluffs	 	Iowa	 	Harrah’s Council Bluffs LLC	 	 Harveys Iowa Management Company LLC
  

CEOC, LLC, successor in interest by merger to Caesars Entertainment Operating Company, Inc.

 
 Harveys BR Management Company, Inc.

					
	3.	 	Harrah’s Metropolis	 	Illinois	 	Harrah’s Metropolis LLC	 	Southern Illinois Riverboat/Casino Cruises LLC
					
	4.	 	Horseshoe Southern Indiana	 	Indiana	 	Horseshoe Southern Indiana LLC	 	 Caesars Riverboat Casino, LLC
  

Roman Holding Company of Indiana LLC

					
	5.	 	Horseshoe Hammond	 	Indiana	 	New Horseshoe Hammond LLC	 	Horseshoe Hammond, LLC
					
	6.	 	Horseshoe Bossier City	 	Louisiana	 	Horseshoe Bossier City Prop LLC	 	Horseshoe Entertainment
					
	7.	 	Harrah’s Bossier City (Louisiana Downs)	 	Louisiana	 	Harrah’s Bossier City LLC	 	Harrah’s Bossier City Investment Company, L.L.C.
					
	8.	 	Harrah’s North Kansas City	 	Missouri	 	New Harrah’s North Kansas City LLC	 	 Harrah’s North Kansas City LLC
  

CEOC, LLC, successor in interest by merger to Caesars Entertainment Operating Company, Inc.

					
	9.	 	 Grand Biloxi Casino Hotel
 (a/k/a Harrah’s
Gulf Coast) and Biloxi Land
	 	Mississippi	 	Grand Biloxi LLC	 	 Grand Casinos of Biloxi, LLC
  

Casino Computer Programming, Inc.

									
	 No.
	 	 Property
	 	 State
	 	 Fee Owner
	 	 Operating Entity

					
	10.	 	Horseshoe Tunica	 	Mississippi and Arkansas	 	Horseshoe Tunica LLC	 	Robinson Property Group LLC
					
	11.	 	Tunica Roadhouse	 	Mississippi	 	New Tunica Roadhouse LLC	 	Tunica Roadhouse LLC
					
	12.	 	Caesars Atlantic City	 	New Jersey	 	Caesars Atlantic City LLC	 	 Boardwalk Regency LLC
  

Caesars New Jersey LLC

					
	13.	 	Bally’s Atlantic City and Schiff Parcel	 	New Jersey	 	Bally’s Atlantic City LLC	 	Bally’s Park Place LLC
					
	14.	 	Harrah’s Lake Tahoe	 	Nevada	 	Harrah’s Lake Tahoe LLC	 	 Harveys Tahoe Management Company LLC
  

CEOC, LLC, successor in interest by merger to Caesars Entertainment Operating Company, Inc.

					
	15.	 	Harvey’s Lake Tahoe	 	Nevada and California	 	Harvey’s Lake Tahoe LLC	 	Harveys Tahoe Management Company LLC
					
	16.	 	Harrah’s Reno	 	Nevada	 	Harrah’s Reno LLC	 	CEOC, LLC, successor in interest by merger to Caesars Entertainment Operating Company, Inc.
					
	17.	 	Bluegrass Downs	 	Kentucky	 	Bluegrass Downs Property Owner LLC	 	Players Bluegrass Downs LLC
					
	18.	 	Las Vegas Land Assemblage Properties	 	Nevada	 	Vegas Development LLC	 	 Hole in the Wall, LLC
  

CEOC, LLC, successor in interest by merger to Caesars Entertainment Operating Company, Inc.

					
	19.	 	Harrah’s Airplane Hangar	 	Nevada	 	Vegas Operating Property LLC	 	CEOC, LLC, successor in interest by merger to Caesars Entertainment Operating Company, Inc.

									
	 No.
	 	 Property
	 	 State
	 	 Fee Owner
	 	 Operating Entity

					
	20.	 	Vacant Land in Missouri	 	Missouri	 	Miscellaneous Land LLC	 	CEOC, LLC, successor in interest by merger to Caesars Entertainment Operating Company, Inc.
					
	21.	 	Land Leftover from Harrah’s Gulfport	 	Mississippi	 	Propco Gulfport LLC	 	CEOC, LLC, successor in interest by merger to Caesars Entertainment Operating Company, Inc.
					
	22.	 	Vacant Land in Splendora, TX	 	Texas	 	Miscellaneous Land LLC	 	CEOC, LLC, successor in interest by merger to Caesars Entertainment Operating Company, Inc.
					
	23.	 	Vacant Land at Turfway Park	 	Kentucky	 	Miscellaneous Land LLC	 	CEOC, LLC, successor in interest by merger to Caesars Entertainment Operating Company, Inc.

 EXHIBIT B 

LEGAL DESCRIPTION OF LAND 
 [SEE
ATTACHED] 

 EXHIBIT C 

CAPITAL EXPENDITURES REPORT 
 [SEE
ATTACHED] 

 EXHIBIT D 

FORM OF SCHEDULE CONTAINING ANY ADDITIONS TO OR RETIREMENTS OF 

ANY FIXED ASSETS CONSTITUTING LEASED PROPERTY 

DISPOSAL REPORT 
  

																																																									
	 Company

Code
	  	System
Number	 	  	Ext	 	  	Asset
ID	 	  	Asset
Description	 	  	Class	 	  	In Svc
Date	 	  	Disposal
Date	 	  	DM	 	  	Acquired
Value	 	  	Current
Accum	 	  	Net
Proceeds	 	  	Gain/Loss
Adjustment	 	  	Realized
Gain/Loss	 	  	GL	 
		  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  				  				  				  				  				  				  				  				  				  				  				  				  				  			

 ADDITIONS REPORT 
  

																																			
	 Project/Job

Number
	  	System
Number	 	  	 GL Asset Account
	  	 Asset ID
	  	Accounting
Location	 	  	 Asset Description
	  	PIS Date	 	  	Enter Date	 	  	Est Life	 	  	Acq Value	 	  	Current
Accum	 
		  				  		  		  				  		  				  				  				  				  			
		  				  		  		  				  		  				  				  				  				  			
		  				  		  		  				  		  				  				  				  				  			

 NOTES 

 EXHIBIT E 

GROUND LEASED PROPERTY 
 BLUEGRASS DOWNS
– TRACT 3 
 TRACT 3: 
 (Map Number 095-10-00-014.01) 
 Being Parcel B,
containing 9.480 acres more or less, as shown on Waiver of Subdivision, Plat of Survey for Harrah’s Entertainment recorded on January 11, 2000 in Plat Section L, Page 404, McCracken County Clerk’s Office, and being more particularly
described as follows: 
 Being a tract of land located North of U.S. Highway 60 or Park Avenue and West of Metcalf Lane in the City of Paducah, McCracken
County, Kentucky, more particularly described as follows: Beginning at a steel rod,  1⁄2 inch in diameter by 30 inches line with a plastic cap stamped
“KRLS 1842” (hereinafter referred to as a steel rod and cap) set at the Southeasterly corner of the herein described property, said steel rod and cap being located North 02° 25’ 25” East, a distance of 714.83 feet from a mag
nail set on the Northerly right of way line of U.S. Highway 60, with said mag nail being located North 87° 08’ 15” West, a distance of 307.10 feet from a concrete right of way marker located at the intersection of said Northerly right
of way line with the Westerly right of way line of Metcalf Lane; thence from said point of beginning proceed North 86° 34’ 29” West along and with the Southerly line of the herein described parcel 328.86 feet to a rebar with a metal
cap found at the Southwesterly corner of the subject site herein described; thence North 02° 31’ 05” East, along and with the Westerly line of said site, 1,259.80 feet to a one inch diameter iron pipe found; the Northwesterly corner of
the herein descried tract; thence South 86° 34’ 19” East, a distance of 326.78 feet to a steel rod and cap set at the Northeasterly corner of the subject site; thence South 02° 25’ 25” West, a distance of 1,259.82 feet to
the point of beginning. 
 Together with a non-exclusive 40 foot wide easement for ingress and egress set forth in
Agreement by and among Inez Johnson, Wayne Simpson and Players Bluegrass Downs, Inc. dated December 16, 1999 recorded Deed Book 929, Page 367, and as shown on as shown on Waiver of Subdivision, Plat of Survey for Harrah’s Entertainment
recorded on January 11, 2000 in Plat Section L, Page 404, both in the McCracken County Clerk’s office. 
 Being the same property leased to by
unrecorded lease dated May 22, 1987, by and between Inez Johnson and Coy Stacey and Bobby Dextor, the Original Lessees, and subsequently assigned to Bluegrass Downs of Paducah, Ltd., (“Successor Lessee”) by an unrecorded Assignment of
Lease dated June 1, 1987, all as evidenced of record by Memorandum of Lease dated June 1, 1987, of record in Deed Book 703, page 373. Said Successor Lessee having assigned all of its right, title and interest in and to said Lease to
Players Bluegrass Downs, Inc., a Kentucky corporation, by Assignment of Lease dated November 22, 1993, as evidenced of record by memorandum thereof recorded in Deed Book 801, page 405, and as further affected by Agreement between Inez Johnson
and Players Bluegrass Downs, Inc., dated December 16, 1999, recorded in Deed Book 929, page 367, all in the aforesaid clerk’s office. 

 BLUEGRASS DOWNS – TRACT 4 

TRACT 4: 
 (A part of Map Number 095-10-00-014) 
 Being Parcel A,
containing 1.950 acres more or less, as shown on Waiver of Subdivision, Plat of Survey for Harrah’s Entertainment recorded on January 11, 2000 in Plat Section L, Page 404, McCracken County Clerk’s Office, and being more particularly
described as follows: 
 Being a parcel of land located North of U.S. Highway 60 or Park Avenue and West of Metcalf Lane in the City of Paducah, McCracken
County, Kentucky, more particularly described as follows: 
 Beginning at a steel rod,  1⁄2” diameter by 30” long with a plastic cap stamped “KRLS 1842” set at the time of this survey (hereinafter referred to as a steel rod and cap) at the Southeasterly corner of the herein
described property, said steel rod and cap being located N. 02°-25’-25” E., a distance of 229.35 feet from a mag. Nail set on the Northwesterly right-of-way line of U.S. Highway 60 with said Mag. Nail being located N.
87°-08’-15” W., as distance of 307.10 feet from a concrete right-of-way
marker located at the intersection of said Northerly right-of-way line with the Westerly
right-of-way line of Metcalf Lane; thence from said point of beginning proceed N.
87°-55’-41” W. along and with the Southwestly line of the herein described parcel and with an existing six foot high chain link fence, 167.45 feet to a
steel rod and cap set at the Southwesterly corner of the herein described property; thence N 25°-31’-05” W. and continuing along and with said chain-link
fence, a distance of 20.17 feet to a steel rod and cap set on the Westerly line of the herein described parcel of land, thence N 03°03’-47” E. along and with the Westerly line aforesaid and
continuing along and with the chain-link fence aforesaid, 471.72 feet to a steel road and cap set, the Northwesterly corner of the subject property; thence S
86°-34’-29” E. along and with the Northerly line of said subject site, 171.66 feet to a steel rod and cap set, the Northeasterly corner of said site;
thence S 02°-25’-25” W. along and with an existing six foot high chain-link fence, 485.48 feet to the point of beginning. 

Together with a non-exclusive 40 foot wide easement for ingress and egress set forth in Agreement by and among Inez
Johnson, Wayne Simpson and Players Bluegrass Downs, Inc. dated December 16, 1999 recorded Deed Book 929, Page 367, and as shown on as shown on Waiver of Subdivision, Plat of Survey for Harrah’s Entertainment recorded on January 11,
2000 in Plat Section L, Page 404, both in the Office aforesaid. 
 Being the same property leased to Wayne Simpson and Gloria Simpson from Inez Johnson, by
unrecorded lease dated July 31, 1987, and assigned to Players Bluegrass Downs, Inc., by Assignment of Lease dated June 13, 1994, of record in Deed Book 805, Page 423, in the office aforesaid, and as amended by Agreement between Inez
Johnson, Wayne Simpson and Gloria Simpson, husband and wife, and Players Bluegrass Downs, Inc., dated December 16, 1999, recorded in Deed Book 929, Page 343, all in the office aforesaid. 

 GRAND BILOXI – TIDELANDS LEASE 

Tidelands Parcel 1: 
 A parcel of land (submerged lands and
tidelands) located in Claim Section 34, Township 7 South, Range 9 West, City of Biloxi, Second Judicial District of Harrison County, Mississippi; and being more particularly described as follows: 

Commence at an iron rod located at the intersection of the east margin
(right-of-way) of Oak Street with the south margin (right-of-way) of U.S. Highway 90,
also known as Beach Boulevard, said point having the following State Plane Coordinates, N.A.D. 1983, Mississippi East Zone in feet, North 324439.35 and East 973456.36; said point also being the northwest corner of that certain tract of land
described by a Boundary Agreement and being recorded in Warranty Deed Book 338, Pages 283-290; thence South 00 degrees 24 minutes 55 seconds East 350.00 feet along said east margin (right-of-way) of Oak Street to the Point of Beginning, said point also being located at the southwest corner of a certain tract of land per the aforesaid Boundary Agreement;
thence southeasterly along the southerly line of the aforesaid Boundary Agreement the following twelve courses, South 60 degrees 02 minutes 16 seconds East 20.04 feet, South 81 degrees 37 minutes 19 seconds East 11.55 feet, South 58 degrees 56
minutes 29 seconds East 18.04 feet, South 73 degrees 16 minutes 20 seconds East 25.87 feet, South 66 degrees 03 minutes 59 seconds East 65.07 feet, South 41 degrees 27 minutes 45 seconds East 12.31 feet, South 66 degrees 12 minutes 50 seconds East
18.62 feet, South 77 degrees 21 minutes 47 seconds East 19.55 feet, South 64 degrees 14 minutes 00 seconds East 35.62 feet, South 64 degrees 36 minutes 48 seconds East 33.61 feet, South 73 degrees 01 minutes 45 seconds East 9.53 feet, South 64
degrees 30 minutes 28 seconds East 13.99 feet; thence South 88 degrees 36 minutes 20 seconds West 256.14 feet to a point on the southerly projection of the east margin
(right-of-way) of Oak Street; thence North 00 degrees 24 minutes 55 seconds West 120.78 feet along said southerly projection of the east margin (right-of-way) of Oak Street to the said Point of Beginning. Said parcel of land (submerged lands and tidelands) contains 15,525 square feet or 0.356 acres, more or less. 

Tidelands Parcel 2: 
 A certain parcel of land (submerged lands
and tidelands) located in Claim Section 34, 
 Township 7 South, Range 9 West, City of Biloxi, Second Judicial District of Harrison County, Mississippi;
and being more particularly described as follows: 
 Commence at an iron rod located at the intersection of the east margin (right-of-way) of 
 Oak Street with the south margin (right-of-way) of U.S. Highway 90, also known as Beach Boulevard, said point having the following State Plane Coordinates, N.A.D. 1983, Mississippi East Zone in feet, North 324439.35 and East 973456.36; said
point also being the northwest corner of that certain tract of land described by a Boundary Agreement and being recorded in Warranty Deed Book 338, Pages 283-290; thence easterly along said south margin (right-of- way) of U.S. Highway 90 the following three courses, South 89 degrees 28 minutes 50 seconds East 230.94 feet, North 88 degrees 36 minutes 20 seconds East 605.66
feet, North 88 degrees 55 minutes 15 seconds East 181.31 feet to the northeast corner of that certain tract of land per the 

 
aforesaid Boundary Agreement; thence South 00 degrees 11 minutes 55 seconds East 427.16 feet to the Point of Beginning, said point also being located at the most southeasterly corner of that
certain tract of land per the aforesaid Boundary Agreement; thence continue South 00 degrees 11 minutes 55 seconds East 34.95 feet; thence South 88 degrees 36 minutes 20 seconds West 200.00 feet to a point located on the line of that certain tract
of land per the aforesaid Boundary Agreement; thence along the line of that certain tract of land per the aforesaid Boundary agreement the following twenty two courses, North 01 degrees 23 minutes 40 seconds West 26.00 feet, South 88 degrees 36
minutes 20 seconds West 4.98 feet, North 01 degrees 23 minutes 40 seconds West 23.20 feet, South 60 degrees 12 minutes 52 seconds East 18.40 feet; thence South 64 degrees 25 minutes 17 seconds East 17.16 feet. South 53 degrees 31 minutes 41 seconds
East 6.34 feet, South 61 degrees 44 minutes 07 seconds East 12.64 feet, South 58 degrees 19 minutes 04 seconds East 10.95 feet, South 72 degrees 15 minutes 59 seconds East 7.21 feet, North 87 degrees 19 minutes 59 seconds East 6.26 feet, North 69
degrees 43 minutes 30 seconds East 5.58 feet, North 55 degrees 09 minutes 10 seconds East 28.03 feet, North 51 degrees 12 minutes 32 seconds East 20.66 feet, North 64 degrees 38 minutes 59 seconds East 9.51 feet, North 69 degrees 37 minutes 40
seconds East 21.27 feet, North 68 degrees 12 minutes 05 seconds East 7.38 feet, North 84 degrees 51 minutes 18 seconds East 9.84 feet, South 86 degrees 12 minutes 06 seconds East 5.33 feet, South 78 degrees 09 minutes 28 seconds East 5.62 feet,
South 79 degrees 24 minutes 04 seconds East 13.16 feet, South 68 degrees 06 minutes 53 seconds East 13.84 feet, South 38 degrees 38 minutes 16 seconds East 15.61 feet to the Point of Beginning. Said parcel of land (submerged land and tidelands)
contains 7,797 square feet or 0.179 acres, more or less. 
 GRAND BILOXI – GROUND LEASE 

Parcel 30 (Tax Parcel Nos. 1410I-02-032.000; 1410I-02-032.001-Vacated street; 1510L-02-136.000; 1510M-01-025.000; 1510M-01-025.003; and 1410P-01-004.000-leased portion for theatre) 
 That certain real property
situated in Blocks 1 and 2, Summerville Addition, and other lands lying south of U.S. Highway 90, City of Biloxi, Second Judicial District of Harrison County, Mississippi, being described more in particular as follows,
to-wit: 
 Beginning at an iron pipe marking the Southwest corner of the intersection of U.S. Highway 90 and Pine
Street if said were extended Southward and run S 00o11’55” E a distance of 397.19 feet along said West margin to an iron pin set at the apparent mean high water line of the Mississippi Sound, thence run Westerly along the meanderings
of said apparent mean high water line to a point on a timber bulkhead that lies S 83o23’05” W a distance of 283.50 feet from the last mentioned point, thence run S 03o04’55” E along said timber bulkhead a distance of
150.00 feet to a point, thence follow the meanderings of the apparent mean high water line Southwesterly to a point on a timber bulkhead that lies S 64o48’05” W a distance of 89.10 feet from the last mentioned point, thence run S
03o16’05” W along said bulkhead a distance of 133.30 feet to a point on a pier, thence run S 87o19’05” W along said pier a distance of 78.30 Feet to a point, thence run N 02o51’05” E along the same pier a
distance of 262.80 feet to a point, thence N 89o07’55” W along the same pier a distance of 336.70 feet, thence run Northwesterly along the 

 
apparent mean high water line to a point on the East margin of Oak Street that lies N 64o29’40” W a distance of 280.27 feet from the last mentioned point, thence run N
00o24’55” W along said East margin a distance of 350.00 feet to an iron pipe in concrete on the South margin of U.S. Highway 90, thence follow said South margin S 89o28’50” E a distance of 230.94 feet to an iron pin,
thence continue along said South margin N 88o36’20” E a distance of 605.66 feet to a concrete right-of-way monument, thence continue along said South
margin N 88o55’15” E a distance of 181.31 feet to the point of beginning, together with all riparian or other rights thereunto appertaining. (Tax Parcel Nos.
1410P-01- 004.000, 1510M-01-025.000, & 1510M-01-025.003). 
 Physical address: 285 Beach Blvd, Biloxi, MS 39533 

AND 
 All of Lots 1 through 10 inclusive, Block 2, Summerville
Addition, City of Biloxi, Second Judicial District of Harrison County, Mississippi, being described more in particular as follows, to-wit: 

Beginning at an iron pipe marking the Northwest corner of said Block 2, Summerville Addition, and run N 89o45’15” E along the South margin of
First Street a distance of 480.00 feet to an iron pin marking the Northeast corner of said Block 2; thence run S 00o11’55” E along the West margin of Pine Street a distance of 365.29 feet to a point on the North margin of the North
Service Drive of U. S. Highway 90; thence run S 89o23’18” W along said North margin a distance of 480.57 feet to the East margin of Maple Street; thence run N 00o06’40” W along the East margin of Maple Street a distance
of 368.36 feet to the point of beginning. (Tax Parcel No. 1510L-02-136.000) AND 

All of Lots 3-8 inclusive, Block 1, Summerville Addition, plus the East 20 feet of Lot 2 and the East 10 feet of Lot
9, Block 1, Summerville Addition, City of Biloxi, Second Judicial District, Harrison County, Mississippi, being described more in particular as follows, to-wit: 

Beginning at an iron pipe marking the Northeast corner of said Block 1 and run South 00°03’09” East along the West margin of Maple Street a
distance of 366.93 feet to a point on the North margin or the North Service Drive of U.S. Highway 90; thence run Southwesterly along said North margin to a point that lies South 89°06’54” West a distance of 340.17 feet from the last
mentioned point; thence run North 00°06’31” East a distance of 171.02 feet to a point; thence run North 89°49’51” East a distance of 169.68 feet to a point; thence run North 00°03’40” West a distance of
199.93 feet to the South margin of First Street; thence run North 89°45’15” East along said South margin of First Street a distance of 170.00 feet to the point of beginning. (Tax Parcel No. 1410I-02- 032.000) 
 Physical address: Beach Blvd, Biloxi, MS 

AND All that part of vacated and abandoned Maple Street lying North of the South
right-of-way line of U.S. Highway 90 and South of the South line of First Street being that portion of maple street vacated pursuant to Resolution No. 601-96 of the City of Biloxi, located in Section 34, Township 7 South, Range 9 West, City of Biloxi, Second Judicial District of Harrison County, Mississippi. Also known as (Tax Parcel No. 1410I-02-032.001) 

 Note: Parcel No. 1510M-01-025.002
is no longer a tax parcel 
 HARRAH’S AIRPLANE HANGAR 

That potion of the North Half (N  1⁄2) of Section 28, Township
21 South, Range 61 East, M.D.M., Clark County, Nevada, being more particularly described as follows: 
 Commencing at the Center Quarter Corner (C  1⁄4) of Section 28, Township 21 South, Range 61 East, M.D.M., Clark County, Nevada; thence North 00°37’41” West, along the East line of the
Northwest Quarter (NW  1⁄4) of said Section 28, 14.05 feet to the point of beginning. 

Thence North 89°21’35” West, departing said point of beginning 102.28 feet; thence North 00°38’25” East, 215.00 feet; thence South
89°21’35” East, 450.66 feet, to the beginning of a tangent curve concave southwesterly having a radius of 25.00 feet and a central angle of 114°00’00”; thence along the arc of said curve to the right, a distance of 49.76
feet to a point of tangency; thence South 24°40’16” West, 202.36 feet; thence North 89°21’35” West, 176.08 feet; thence North 00°38’25” East, 5.00 feet; thence North 89°21’35” West, 112.72 feet
to the point of beginning. 
 Said legal description attached to that certain Second Amendment to Imperial Palace Lease Agreement dated October 7, 2003

 HARRAH’S COUNCIL BLUFFS 
 Part of
accretions to Government Lots 1, 2, 3 and 4, together with riparian rights in Section 33, part of said accretions are located in part of the protraction of Section 32, (according to the Plat of the Original Government Survey, said
Section 32 did not exist), Township 75 North, Range 44 West of the 5th Principal Meridian, Pottawattamie County, Council Bluffs, Iowa, more particularly described as follows: 

Commencing at the Southwest corner of the Northwest Quarter of the Northwest Quarter of said Section 33; thence North 0 degrees 24 minutes 40 seconds West
along the West line of said Northwest Quarter of the Northwest Quarter, a distance of 291.10 feet to a point 240.00 feet normally distant Southerly from the centerline of the Aksarben Bridge as formerly established; thence South 79 degrees 56
minutes 00 seconds West and parallel with the centerline of said Aksarben Bridge as formerly established, a distance of 64.21 feet to a point on the Westerly
right-of-way line of the Council Bluffs Missouri River levee and Point of Beginning; thence Southerly along the Westerly right-of-way line of said Council Bluffs Missouri River levee with the following courses: South 18 degrees 02 minutes 16 seconds West, 249.43 feet; thence South 17 degrees 23 minutes 41 seconds West, 236.29
feet; thence South 11 degrees 50 minutes 08 seconds East, 296.56 feet; thence South 23 degrees 33 minutes 45 seconds East, 585.38 feet; thence South 27 degrees 10 minutes 18 seconds East, 1068.68 feet; thence South 17 degrees 04 minutes 16 seconds
East, 289.85 feet; thence South 16 degrees 39 minutes 05 seconds East, 523.36 feet; thence South 36 degrees 23 minutes 31 seconds East, 32.65 feet to a point on the Northerly
right-of-way line of the Union Pacific Railroad Company, said point being 150.00 feet 

 
distant North from the centerline of said Union Pacific Railroad Company measured at right angles thereto; thence leaving the Westerly right-of-way line of said Council Bluffs Missouri River levee South 88 degrees 50 minutes 40 seconds West along the Northerly
right-of-way line of said Union Pacific Railroad Company and parallel with said centerline, a distance of 377.39 feet to the top of bank of the Missouri River; thence
Northerly along said top of bank with the following courses: North 20 degrees 33 minutes 51 seconds West, 209.65 feet; thence North 1 degree 53 minutes 51 seconds West, 141.85 feet; thence North 21 degrees 26 minutes 59 seconds West, 70.05 feet;
thence North 48 degrees 45 minutes 58 seconds West, 53.20 feet; thence North 22 degrees 07 minutes 51 seconds West, 200.15 feet; thence North 27 degrees 37 minutes 58 seconds West, 119.29 feet; thence North 34 degrees 14 minutes 25 seconds West,
70.52 feet; thence North 15 degrees 29 minutes 39 seconds West, 110.90 feet; thence North 25 degrees 39 minutes 20 seconds West, 334.98 feet; thence North 5 degrees 52 minutes 48 seconds West, 93.47 feet; thence North 7 degrees 30 minutes 55 seconds
East, 62.78 feet; thence North 8 degrees 06 minutes 51 seconds West, 87.65 feet; thence North 34 degrees 10 minutes 59 seconds West, 100.89 feet; thence North 16 degrees 18 minutes 02 seconds West, 275.25 feet; thence North 32 degrees 43 minutes 12
seconds West, 154.20 feet; thence North 18 degrees 33 minutes 34 seconds West, 220.22 feet; thence North 8 degrees 07 minutes 54 seconds East, 76.37 feet; thence North 11 degrees 46 minutes 28 seconds West, 55.22 feet; thence North 22 degrees 29
minutes 02 seconds West, 90.48 feet; thence North 13 degrees 57 minutes 21 seconds West, 78.61 feet; thence North 21 degrees 55 minutes 58 seconds West, 510.98 feet; thence North 2 degrees 16 minutes 52 seconds East, 72.13 feet to a point 240.00
feet normally distant Southerly from the centerline of said Aksarben Bridge as formerly established; thence leaving said top of bank North 79 degrees 56 minutes 00 seconds East and parallel with the centerline of Aksarben Bridge as formerly
established, a distance of 528.21 feet to the Point of Beginning. The Westerly line of said parcel, being the top of bank of the Missouri River, is subject to change due to natural causes and may not represent the actual location of the limit of
title, pursuant to Management Agreement dated August 8, 1994, recorded September 9, 1994 in Book 95, Page 6368 and Sublease Agreement dated March 1, 1995, recorded March 10, 1995 in Book 95, Page 21438; 

EXCEPT river front roadway as described in Quit Claim Deed at Book 2011, Page 5606 and as shown in Acquisition Plat recorded in Book 2011, Page 5607
and described as follows: A parcel of land being a portion of accretions to Government Lots 1, 2, and 3 in Section 33, Township 75 North, Range 44 West of the 5th Principle Meridian, Council Bluffs, Pottawattamie County, Iowa, being more fully
described as follows: Commencing at the Northwest corner of said Section 33; thence along the West line of said Section 33, South 01 degrees 35 minutes 39 seconds West, 1034.31 feet; thence South 81 degrees 54 minutes 47 seconds West,
347.63 feet to the true point of beginning, said point being on a non-tangent curve, concave Easterly, to which point a radial line bears South 86 degrees 32 minutes 43 seconds West, 456.50 feet; thence
Southerly along said curve, through a central angle of 25 degrees 46 minutes 30 seconds, 205.36 feet to the beginning of a reverse curve concave Westerly, having a radius of 543.50 feet; thence Southerly along said reverse curve, through a central
angle of 22 degrees 45 minutes 28 seconds, 215.88 feet to a point on the Westerly right-of-way line of the Council Bluffs Missouri River Levee; thence along said
Westerly right-of-way line the following five (5) courses: 1) South 19 degrees 22 minutes 23 seconds West, 18.95 feet; 2) South 09 degrees 51 minutes 26 seconds
East, 296.56 feet; 3) South 21 degrees 35 minutes 03 seconds East, 585.38 feet; 4) South 25 degrees 11 minutes 36 seconds East, 1068.68 feet; 5) South 15 degrees 05 minutes 34 seconds 

 
East, 44.04 feet to a point on a non-tangent curve, concave Northeasterly, to which point a radial line bears South 29 degrees 29 minutes 49 seconds West,
183.00 feet; thence Northwesterly along said curve, through a central angle of 35 degrees 24 minutes 31 seconds, 113.09 feet; thence North 25 degrees 05 minutes 40 seconds West, 1560.17 feet to the beginning of a curve, concave Easterly, having a
radius of 482.50 feet; thence Northerly along said curve, through a central angle of 19 degrees 09 minutes 21 seconds, 161.32 feet; hence North 05 degrees 56 minutes 19 seconds West, 202.85 feet to the beginning of a curve, concave Westerly, having
a radius of 467.50 feet; thence Northerly along said curve, through a central angle of 23 degrees 17 minutes 28 seconds, 190.04 feet to the beginning of a reverse curve concave Easterly, having a radius of 532.50 feet; thence Northerly along said
curve, through a central angle of 25 degrees 06 minutes 46 seconds, 233.39 feet; thence North 81 degrees 54 minutes 49 seconds East, 76.21 feet to the true point of beginning. Said parcel contains an area of 134,229 square feet (3.081 acres), more
or less. 
 HARRAH’S METROPOLIS 
 TRACT 6:

 THE ESTATE OR INTEREST IN THE LAND DESCRIBED BELOW AND COVERED HEREIN IS: THE LEASEHOLD ESTATE, CREATED BY THE INSTRUMENT HEREIN REFERRED TO AS THE LEASE
(FIRST LANDING LEASE), EXECUTED BY CITY OF METROPOLIS, AS LESSOR, AND P.C.I., INC., AS LESSEE, DATED DECEMBER 10, 1990 (LEASE DOES NOT APPEAR OF RECORD), AND AMENDMENT TO LEASE, DATED MAY 26, 1992 (AMENDMENT DOES NOT APPEAR OF RECORD), AND
AMENDMENT TO LEASE, DATED JULY 13, 1992 (AMENDMENT DOES NOT APPEAR OF RECORD), AND AMENDMENT AND ASSIGNMENT OF LEASE, DATED AUGUST 25, 1995, FILED AUGUST 31, 1995, IN BOOK 399 PAGE 10, IN WHICH P.C.I., INC. ASSIGNS ALL RIGHT, TITLE
AND INTEREST IN, TO AND UNDER THE LEASE TO SOUTHERN ILLINOIS RIVERBOAT/CASINO CRUISES, INC., AND AMENDMENT TO LEASE AGREEMENT, DATED MARCH 26, 2001, FILED APRIL 11, 2001, IN BOOK 568 PAGE 69, AND AMENDMENT TO LEASE AGREEMENT, DATED
MARCH 9, 2004, FILED JULY 9, 2004, IN BOOK 708 PAGE 79, AND AMENDMENT TO LEASE AGREEMENT, DATED SEPTEMBER 13, 2004, FILED OCTOBER 19, 2004, IN BOOK 719 PAGE 180, WHICH LEASE DEMISES THE FOLLOWING DESCRIBED LAND FOR A TERM OF
YEARS BEGINNING JANUARY 1, 1992, AND ENDING DECEMBER 31, 2019: 
 ALL OF THAT PROPERTY LOCATED IN THE FRACTIONAL SECTION 11 AND SECTION 2,
TOWNSHIP 16 SOUTH, RANGE 4 EAST OF THE THIRD PRINCIPAL MERIDIAN AND IN THE CITY OF METROPOLIS, MASSAC COUNTY, STATE OF ILLINOIS, DESCRIBED AS FOLLOWS: BEGINNING AT A POINT IN THE EAST LINE OF METROPOLIS STREET, EXTENDED, AT THE POINT WHERE IT
INTERSECTS THE LOW WATER MARK OF THE OHIO RIVER, THENCE WESTERLY ALONG THE LOW WATER MARK OF THE OHIO RIVER TO THE POINT WHERE IT INTERSECTS THE WEST LINE OF BROADWAY STREET, EXTENDED TO THE POINT WHERE IT INTERSECTS THE LOW WATER MARK OF THE OHIO
RIVER; THENCE 

 
NORTHERLY ALONG THE WEST LINE OF BROADWAY STREET, EXTENDED, TO THE SOUTH LINE OF FRONT STREET; THENCE EASTERLY ALONG THE SOUTH LINE OF SAID FRONT STREET TO THE EAST LINE OF METROPOLIS STREET,
EXTENDED, TO THE POINT WHERE IT INTERSECTS WITH THE EAST LINE OF METROPOLIS STREET; THENCE SOUTHERLY ALONG THE EAST LINE OF METROPOLIS STREET, EXTENDED, TO THE POINT WHERE IT INTERSECTS THE LOW WATER MARK OF THE OHIO RIVER, TO THE POINT OF
BEGINNING. 
 TOGETHER WITH THAT PROPERTY BEING THE BED AND BOTTOM OF THE OHIO RIVER IMMEDIATELY ADJACENT TO THE UPLANDS LOCATED IN THE CITY OF METROPOLIS,
MASSAC COUNTY, STATE OF ILLINOIS, DESCRIBED AS FOLLOWS: BEGINNING AT THE POINT IN THE EAST LINE OF METROPOLIS STREET, EXTENDED, AT THE POINT WHERE IT INTERSECTS THE LOW WATER MARK OF THE OHIO RIVER; THENCE SOUTHERLY ALONG THE EAST LINE OF METROPOLIS
STREET TO THE POINT IN THE OHIO RIVER WHERE IT INTERSECTS THE ILLINOIS/KENTUCKY STATE LINE; THENCE WESTERLY ALONG THE ILLINOIS/KENTUCKY STATE LINE TO THE POINT WHERE IT INTERSECTS THE WEST LINE OF BROADWAY STREET, EXTENDED, AT THE POINT WHERE IT
INTERSECTS THE ILLINOIS/KENTUCKY STATE LINE; THENCE NORTHERLY ALONG THE WEST LINE OF BROADWAY STREET TO THE POINT IN THE WEST LINE OF BROADWAY STREET, EXTENDED, AT THE POINT WHERE IT INTERSECTS THE LOW WATER MARK OF THE OHIO RIVER; THENCE EASTERLY
ALONG THE LOW WATER MARK OF THE OHIO RIVER, TO THE POINT OF BEGINNING. 
 ALSO BEING FURTHER DESCRIBED AS: 

A PARCEL OF LAND LOCATED IN FRACTIONAL SECTIONS 2 AND 11, TOWNSHIP 16 SOUTH RANGE 4 EAST OF THE THIRD PRINCIPAL MERIDIAN, SITUATED IN THE CITY OF METROPOLIS,
MASSAC COUNTY, ILLINOIS, AS SHOWN ON PLAT RECORDED IN DEED BOOK N, PAGE 375, IN THE MASSAC COUNTY CLERK’S OFFICE, AND MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT LOCATED AT THE INTERSECTION OF THE EAST RIGHT OF WAY LINE OF
METROPOLIS STREET EXTENDED AND THE PROPOSED SOUTH LINE OF FRONT STREET, SAID POINT BEING 55 FEET FROM THE INTERSECTION OF THE EAST RIGHT OF WAY LINE OF METROPOLIS STREET AND THE NORTH RIGHT OF WAY LINE OF FRONT STREET; THENCE ALONG THE EAST LINE OF
METROPOLIS STREET EXTENDED SOUTH 34 DEGREES 47 MINUTES 46 SECONDS WEST, 559.55 FEET TO THE STATE LINE DIVIDING ILLINOIS AND KENTUCKY, SAID STATE LINE BASED UPON U.S. SUPREME COURT CASE “ILLINOIS V. KENTUCKY, NO. 106 ORIGINAL” WITH FINAL
DECREE ENTERED ON DECEMBER 2, 1994; THENCE ALONG SAID STATE LINE THE FOLLOWING 30 CALLS: NORTH 62 DEGREES 15 MINUTES 33 SECONDS WEST, 29.38 FEET; NORTH 59 DEGREES 03 MINUTES 18 SECONDS WEST, 78.88 FEET; NORTH 66 DEGREES 32 MINUTES 08 SECONDS
WEST, 33.40 FEET; NORTH 56 DEGREES 02 MINUTES 07 SECONDS WEST, 69.41 FEET; NORTH 51 DEGREES 31 MINUTES 59 SECONDS WEST, 65.88 FEET; NORTH 54 

 
DEGREES 59 MINUTES 52 SECONDS WEST, 77.88 FEET; NORTH 56 DEGREES 01 MINUTES 50 SECONDS WEST, 34.70 FEET; NORTH 55 DEGREES 49 MINUTES 17 SECONDS WEST, 62.14 FEET; NORTH 55 DEGREES 05 MINUTES 08
SECONDS WEST, 67.76 FEET; NORTH 53 DEGREES 27 MINUTES 45 SECONDS WEST, 58.96 FEET; NORTH 56 DEGREES 01 MINUTES 56 SECONDS WEST, 104.13 FEET; NORTH 62 DEGREES 01 MINUTES 40 SECONDS WEST, 69.57 FEET; NORTH 70 DEGREES 19 MINUTES 24 SECONDS WEST, 38.97
FEET; NORTH 48 DEGREES 25 MINUTES 01 SECONDS WEST, 44.25 FEET; NORTH 62 DEGREES 30 MINUTES 34 SECONDS WEST, 62.30 FEET; NORTH 57 DEGREES 52 MINUTES 50 SECONDS WEST, 65.47 FEET; NORTH 46 DEGREES 34 MINUTES 06 SECONDS WEST, 68.47 FEET; NORTH 45
DEGREES 47 MINUTES 17 SECONDS WEST, 54.49 FEET; NORTH 53 DEGREES 41 MINUTES 19 SECONDS WEST, 66.89 FEET; NORTH 64 DEGREES 12 MINUTES 40 SECONDS WEST, 47.88 FEET; NORTH 57 DEGREES 26 MINUTES 17 SECONDS WEST, 104.53 FEET; NORTH 58 DEGREES 32 MINUTES
43 SECONDS WEST, 139.93 FEET; NORTH 48 DEGREES 32 MINUTES 35 SECONDS WEST, 120.37 FEET;NORTH 51 DEGREES 34 MINUTES 37 SECONDS WEST, 59.33 FEET; NORTH 50 DEGREES 23 MINUTES 14 SECONDS WEST, 31.18 FEET; NORTH 48 DEGREES 32 MINUTES 11 SECONDS WEST,
60.18 FEET; NORTH 43 DEGREES 45 MINUTES 32 SECONDS WEST, 63.33 FEET; NORTH 52 DEGREES 27 MINUTES 33 SECONDS WEST, 60.46 FEET; NORTH 48 DEGREES 43 MINUTES 04 SECONDS WEST, 28.03 FEET; NORTH 55 DEGREES 33 MINUTES 40 SECONDS WEST, 21.14 FEET TO A POINT
ON THE WEST LINE OF BROADWAY STREET EXTENDED; THENCE LEAVING SAID STATE LINE AND ALONG THE WEST LINE OF BROADWAY STREET EXTENDED, NORTH 34 DEGREES 47 MINUTES 46 SECONDS EAST 275.84 FEET TO A HALF INCH REBAR WITH PLASTIC CAP SET; THENCE CONTINUING
ALONG SAID WEST LINE OF BROADWAY STREET EXTENDED, NORTH 34 DEGREES 47 MINUTES 46 SECONDS EAST, 273.56 FEET TO A HALF INCH REBAR WITH PLASTIC CAP SET ON THE PROPOSED SOUTH LINE OF FRONT STREET, SAID REBAR LOCATED 55 FEET FROM THE INTERSECTION OF THE
WEST RIGHT OF WAY LINE OF BROADWAY STREET AND THE NORTH RIGHT OF WAY LINE OF FRONT STREET; THENCE ALONG THE PROPOSED SOUTH LINE OF FRONT STREET, SOUTH 55 DEGREES 12 MINUTES 14 SECONDS EAST, 1879.91 FEET TO THE POINT OF BEGINNING. 

TRACT 7: 
 THE ESTATE OR INTEREST IN THE LAND DESCRIBED BELOW AND
COVERED HEREIN IS: THE LEASEHOLD ESTATE (SAID LEASEHOLD ESTATE BEING DEFINED AS THE RIGHT OF POSSESSION GRANTED IN THE LEASE FOR THE LEASE TERM), CREATED BY THE INSTRUMENT HEREIN REFERRED TO AS THE LEASE (SECOND LANDING LEASE), EXECUTED BY CITY OF
METROPOLIS, AS LESSOR, AND SOUTHERN ILLINOIS RIVERBOAT CASINO CRUISES, INC., AS LESSEE, DATED OCTOBER 1, 2015 FOR A PERIOD OF TEN (10) YEARS WITH TWO (2) OPTIONS TO RENEW FOR A PERIOD OF FIVE (5) YEARS EACH AND APPROVED BY
ORDINANCE 2015-17 ON SEPTEMBER 14, 2015 BY THE CITY OF METROPOLIS FILED SEPTEMBER 

 
18, 2017 IN BOOK 879, PAGES 952-971 IN THE MASSAC COUNTY RECORDER’S OFFICE WHICH LEASE DEMISES THE FOLLOWING DESCRIBED LAND: 

ALL OF THAT PROPERTY LOCATED IN THE FRACTIONAL SECTION 11, TOWNSHIP 16 SOUTH, RANGE 4 EAST OF THE THIRD PRINCIPAL MERIDIAN AND IN THE CITY OF METROPOLIS,
MASSAC COUNTY, STATE OF ILLINOIS, DESCRIBED AS FOLLOWS: BEGINNING AT A POINT IN THE EAST LINE OF METROPOLIS STREET, EXTENDED, AT THE POINT WHERE IT INTERSECTS THE MODERN LOW WATER MARK OF THE OHIO RIVER; THENCE EASTERLY ALONG THE SAID LOW WATER MARK
OF THE OHIO RIVER TO THE POINT WHERE IT INTERSECTS THE EAST LINE OF GIRARD STREET, EXTENDED, TO THE POINT WHERE IT INTERSECTS THE SAID MODERN LOW WATER MARK ON THE OHIO RIVER; THENCE NORTHERLY ALONG THE EAST LINE OF GIRARD STREET, EXTENDED, TO THE
SOUTH R.O.W. LINE OF FRONT STREET; THENCE WESTERLY ALONG THE SOUTH R.O.W. LINE OF SAID FRONT STREET TO THE EAST LINE OF METROPOLIS STREET AT THE POINT WHERE IT INTERSECTS WITH THE EAST LINE OF METROPOLIS STREET; THENCE SOUTHERLY ALONG THE EAST LINE
OF METROPOLIS STREET, EXTENDED, TO THE POINT WHERE IT INTERSECTS THE MODERN LOW WATER MARK OF THE OHIO RIVER, BEING THE POINT OF BEGINNING. 
 TRACT 8: 

THE ESTATE OR INTEREST IN THE LAND DESCRIBED BELOW AND COVERED HEREIN IS THE LEASEHOLD ESTATE, CREATED BY THE INSTRUMENT HEREIN REFERRED TO AS THE LEASE (FIRST
LANDING LEASE), EXECUTED BY CITY OF METROPOLIS, AS LESSOR, AND P.C.I., INC., AS LESSEE, DATED DECEMBER 10, 1990 (LEASE DOES NOT APPEAR OF RECORD), AND AMENDMENT TO LEASE, DATED MAY 26, 1992 (AMENDMENT DOES NOT APPEAR OF RECORD), AND
AMENDMENT TO LEASE, DATED JULY 13, 1992 (AMENDMENT DOES NOT APPEAR OF RECORD), AND AMENDMENT AND ASSIGNMENT OF LEASE, DATED AUGUST 25, 1995, FILED AUGUST 31, 1995, IN BOOK 399 PAGE 10, IN WHICH P.C.I., INC. ASSIGNS ALL RIGHT, TITLE
AND INTEREST IN, TO AND UNDER THE LEASE TO SOUTHERN ILLINOIS RIVERBOAT/CASINO CRUISES, INC., AND AMENDMENT TO LEASE AGREEMENT, DATED MARCH 26, 2001, FILED APRIL 11, 2001, IN BOOK 568 PAGE 69, AND AMENDMENT TO LEASE AGREEMENT, DATED
MARCH 9, 2004, FILED JULY 9, 2004, IN BOOK 708 PAGE 79, AND AMENDMENT TO LEASE AGREEMENT, DATED SEPTEMBER 13, 2004, FILED OCTOBER 19, 2004, IN BOOK 719 PAGE 180, WHICH LEASE DEMISES THE FOLLOWING DESCRIBED LAND FOR A TERM OF
YEARS BEGINNING JANUARY 1, 1992, AND ENDING DECEMBER 31, 2019: 
 LOTS 28 AND 466 IN BLOCK NO. 4, OF THE ORIGINAL PLAT OF THE CITY OF METROPOLIS,
ILLINOIS. 
 TRACT 9: 
 THE ESTATE OR INTEREST IN THE LAND
DESCRIBED BELOW AND COVERED HEREIN IS: THE LEASEHOLD ESTATE, CREATED BY THE INSTRUMENT HEREIN 

 
REFERRED TO AS THE LEASE (FIRST LANDING LEASE), EXECUTED BY CITY OF METROPOLIS, AS LESSOR, AND P.C.I., INC., AS LESSEE, DATED DECEMBER 10, 1990 (LEASE DOES NOT APPEAR OF RECORD), AND
AMENDMENT TO LEASE, DATED MAY 26, 1992 (AMENDMENT DOES NOT APPEAR OF RECORD), AND AMENDMENT TO LEASE, DATED JULY 13, 1992 (AMENDMENT DOES NOT APPEAR OF RECORD), AND AMENDMENT AND ASSIGNMENT OF LEASE, DATED AUGUST 25, 1995, FILED
AUGUST 31, 1995, IN BOOK 399 PAGE 10, IN WHICH P.C.I., INC. ASSIGNS ALL RIGHT, TITLE AND INTEREST IN, TO AND UNDER THE LEASE TO SOUTHERN ILLINOIS RIVERBOAT/CASINO CRUISES, INC., AND AMENDMENT TO LEASE AGREEMENT, DATED MARCH 26, 2001, FILED
APRIL 11, 2001, IN BOOK 568 PAGE 69, AND AMENDMENT TO LEASE AGREEMENT, DATED MARCH 9, 2004, FILED JULY 9, 2004, IN BOOK 708 PAGE 79, AND AMENDMENT TO LEASE AGREEMENT, DATED SEPTEMBER 13, 2004, FILED OCTOBER 19, 2004, IN BOOK
719 PAGE 180, WHICH LEASE DEMISES THE FOLLOWING DESCRIBED LAND FOR A TERM OF YEARS BEGINNING JANUARY 1, 1992, AND ENDING DECEMBER 31, 2019: 
 A
PARCEL OF LAND LOCATED IN FRACTIONAL SECTION 2 OF TOWNSHIP 16 SOUTH, RANGE 4 EAST OF THE THIRD PRINCIPAL MERIDIAN IN THE CITY OF METROPOLIS, MASSAC COUNTY, ILLINOIS, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A ONE-HALF INCH DIAMETER REBAR AND PLASTIC CAP SET WHERE THE NORTHEASTERLY RIGHT OF WAY LINE OF FRONT STREET INTERSECTS THE SOUTHEASTERLY
RIGHT-OF-WAY LINE OF MARKET STREET, SAID POINT BEING THE WESTERLY MOST CORNER OF THE AFORESAID BLOCK 4, THENCE FROM SAID POINT OF BEGINNING PROCEED SOUTH 55 DEGREES 12
MINUTES 14 SECONDS EAST WITH THE NORTHEASTERLY RIGHT OF WAY LINE OF FRONT STREET 359.98 FEET TO THE POINT OF INTERSECTION WITH THE NORTHWESTERLY RIGHT OF WAY LINE OF FERRY STREET AT THE SOUTHERLY MOST CORNER OF THE AFORESAID BLOCK 4; THENCE SOUTH 34
DEGREES 47 MINUTES 46 SECONDS WEST WITH A PROJECTION OF SAID NORTHWESTERLY RIGHT OF WAY LINE 55.00 FEET TO THE INTERSECTION WITH THE SOUTHWESTERLY RIGHT OF WAY LINE OF FRONT STREET, SAID SOUTHWESTERLY RIGHT OF WAY LINE BEING REFERRED TO AS
“PROPOSED SOUTH LINE OF FRONT STREET” AS CITED IN THE BOUNDARY LOCATION AGREEMENT BETWEEN THE CITY OF METROPOLIS AND SOUTHERN ILLINOIS RIVERBOAT/CASINO CRUISES, INC. OF RECORD IN VOLUME 535, PAGES 42 THROUGH 46 OF THE MASSAC COUNTY
RECORDER’S OFFICE; THENCE NORTH 55 DEGREES 12 MINUTES 14 SECONDS WEST ALONG AND WITH SAID SOUTHWESTERLY LINE 359.98 FEET TO THE INTERSECTION WITH THE SOUTHEASTERLY RIGHT OF WAY LINE OF MARKET STREET IF PROJECTED IN A SOUTHWESTERLY DIRECTION
FROM THE WESTERLY MOST CORNER OF THE AFORESAID BLOCK 4; THENCE NORTH 34 DEGREES 47 MINUTES 46 SECONDS EAST ALONG AND WITH SAID PROJECTED LINE 55.00 FEET TO THE POINT OF BEGINNING. A/K/A PORTION OF VACATED FRONT STREET BETWEEN MARKET AND FERRY
STREETS; 

 TRACT 10: 
 THE
ESTATE OR INTEREST IN THE LAND DESCRIBED BELOW AND COVERED HEREIN IS:THE LEASEHOLD ESTATE, CREATED BY THE INSTRUMENT HEREIN REFERRED TO AS THE LEASE (FIRST LANDING LEASE), EXECUTED BY CITY OF METROPOLIS, AS LESSOR, AND P.C.I., INC., AS LESSEE, DATED
DECEMBER 10, 1990 (LEASE DOES NOT APPEAR OF RECORD), AND AMENDMENT TO LEASE, DATED MAY 26, 1992 (AMENDMENT DOES NOT APPEAR OF RECORD), AND AMENDMENT TO LEASE, DATED JULY 13, 1992 (AMENDMENT DOES NOT APPEAR OF RECORD), AND AMENDMENT
AND ASSIGNMENT OF LEASE, DATED AUGUST 25, 1995, FILED AUGUST 31, 1995, IN BOOK 399 PAGE 10, IN WHICH P.C.I., INC. ASSIGNS ALL RIGHT, TITLE AND INTEREST IN, TO AND UNDER THE LEASE TO SOUTHERN ILLINOIS RIVERBOAT/CASINO CRUISES, INC., AND
AMENDMENT TO LEASE AGREEMENT, DATED MARCH 26, 2001, FILED APRIL 11, 2001, IN BOOK 568 PAGE 69, AND AMENDMENT TO LEASE AGREEMENT, DATED MARCH 9, 2004, FILED JULY 9, 2004, IN BOOK 708 PAGE 79, AND AMENDMENT TO LEASE AGREEMENT,
DATED SEPTEMBER 13, 2004, FILED OCTOBER 19, 2004, IN BOOK 719 PAGE 180, WHICH LEASE DEMISES THE FOLLOWING DESCRIBED LAND FOR A TERM OF YEARS BEGINNING JANUARY 1, 1992, AND ENDING DECEMBER 31, 2019: 

A PARCEL OF LAND LOCATED IN FRACTIONAL SECTION 2 OF TOWNSHIP 16 SOUTH, RANGE 4 EAST OF THE THIRD PRINCIPAL MERIDIAN IN THE CITY OF METROPOLIS, MASSAC COUNTY,
ILLINOIS, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A ONE HALF INCH DIAMETER REBAR AND PLASTIC CAP SET WHERE THE SOUTHWESTERLY RIGHT OF WAY LINE OF FIRST STREET INTERSECTS THE SOUTHEASTERLY RIGHT OF WAY LINE OF MARKET STREET, SAID POINT
BEING THE NORTHERLY MOST CORNER OF THE AFORESAID BLOCK 4; THENCE FROM SAID POINT OF BEGINNING PROCEED NORTH 34 DEGREES 47 MINUTES 46 SECONDS EAST WITH THE SOUTHEASTERLY RIGHT OF WAY LINE OF MARKET STREET, IF PROJECTED, 70.00 FEET TO THE POINT OF
INTERSECTION WITH THE NORTHEASTERLY RIGHT OF WAY LINE OF FIRST STREET AT THE WESTERLY MOST CORNER OF BLOCK 11 AFORESAID; THENCE SOUTH 55 DEGREES 12 MINUTES 14 SECONDS EAST ALONG AND WITH SAID NORTHEASTERLY RIGHT OF WAY LINE, THE SAME BEING THE
SOUTHWESTERLY LINE OF SAID BLOCK 11, A DISTANCE OF 359.98 FEET TO THE POINT OF INTERSECTION WITH THE NORTHWESTERLY RIGHT OF WAY LINE OF FERRY STREET AT THE SOUTHERLY MOST CORNER OF SAID BLOCK 11; THENCE SOUTH 34 DEGREES 47 MINUTES 46 SECONDS WEST
ALONG AND WITH A PROJECTION OF THE NORTHWESTERLY RIGHT OF WAY LINE OF FERRY STREET, 70.00 FEET TO THE SOUTHWESTERLY RIGHT OF WAY LINE OF FIRST STREET AT THE EASTERLY MOST CORNER OF BLOCK 4 AFORESAID; THENCE NORTH 55 DEGREES 12 MINUTES 14 SECONDS
WEST ALONG AND WITH SAID RIGHT OF WAY LINE, 359.98 FEET TO THE POINT OF BEGINNING. A/K/A PORTION OF VACATED FIRST STREET BETWEEN MARKET AND FERRY STREETS; 

 AND 
 THE ENTIRE
SOUTHERLY ONE-HALF OF THE FOLLOWING DESCRIBED REAL PROPERTY: 
 PORTION OF FRONT STREET RIGHT-OF-WAY BETWEEN FERRY STREET AND METROPOLIS STREET TO BE CLOSED AND VACATED. BEING A PORTION OF THE FRONT STREET RIGHT-OF-WAY LOCATED EAST OF FERRY STREET AND WEST OF METROPOLIS STREET IN THE CITY OF METROPOLIS, MASSAC COUNTY, ILLINOIS, SAID PROPERTY BEING LOCATED IN FRACTIONAL SECTION 11, TOWNSHIP 16 SOUTH, RANGE 4
EAST OF THE THIRD PRINCIPAL MERIDIAN, SAID PROPERTY BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
 BEGINNING AT A STEEL ROD,
ONE-HALF INCH IN DIAMETER, TWENTY-FOUR INCHES LONG WITH A YELLOW PLASTIC CAP STAMPED “FMT ENGRS L.R.L.S. 2651” SET AT THE SOUTHWESTERLY CORNER OF LOT NO. 27, BLOCK NO. 3 OF THE PLAT OF METROPOLIS
CITY OF RECORD IN DEED BOOK “N”, PAGES 375 THROUGH 378 OF THE MASSAC COUNTY CLERK’S OFFICE, SAID POINT BEING LOCATED AT THE SOUTHWESTERLY CORNER OF DOROTHY MILLER PARK WHERE THE EASTERLY RIGHT-OF-WAY LINE OF FERRY STREET INTERSECTS THE NORTHERLY RIGHT-OF-WAY LINE OF FRONT STREET; THENCE FROM SAID POINT OF
BEGINNING PROCEED S. 55 DEGREES 12’14” E. ALONG AND WITH THE SOUTHERLY LINE OF THE AFORESAID BLOCK NO. 3 AND THE NORTHERLY LINE OF SAID FRONT STREET, 359.97 FEET TO A MAGNETIC NAIL SET NEAR THE BACK OF A CONCRETE WALK AT THE SOUTHEASTERLY
CORNER OF SAID DOROTHY MILLER PARK, SAID NAIL BEING LOCATED AT THE SOUTHEASTERLY CORNER OF LOT NO. 19, BLOCK NO. 3 OF THE AFORESAID PLAT OF METROPOLIS CITY AND ON THE WESTERLY
RIGHT-OF-WAY LINE OF METROPOLIS STREET; THENCE PROCEED S. 34 DEGREES 47’46” W, ALONG AND WITH THE PROJECTED WESTERLY RIGHT-OF-WAY LINE OF SAID METROPOLIS STREET 55.00 FEET TO A MAGNETIC NAIL WITH A YELLOW PLASTIC CAP STAMPED “FMT ENGRS I.L.R.S. 2651” SET ON THE NORTHERLY LINE OF TRACT 9 AS DESCRIBED IN BOUNDARY
LOCATION AGREEMENT BETWEEN THE CITY OF METROPOLIS AND SOUTHERN ILLINOIS RIVERBOAT/CASINO CRUISES, INC., RECORDED IN VOLUME 535 AT PAGES 41 THROUGH 46 OF RECORDS IN THE MASSAC COUNTY CLERK’S OFFICE, SAID MARKER ALSO BEING LOCATED ON THE
SOUTHERLY RIGHT-OF-WAY LINE OF SAID FRONT STREET; THENCE PROCEED N. 55 DEGREES 12’14” W. ALONG AND WITH SAID RIGHT-OF-WAY LINE AND THE LINE OF SAID TRACT 9, A DISTANCE OF 359.97 FEET TO A MAGNETIC NAIL WITH A YELLOW PLASTIC CAP AS HERETOFORE DESCRIBED SET AT THE INTERSECTION WITH THE PROJECTED EASTERLY RIGHT-OF-WAY LINE OF THE AFORESAID FERRY STREET; THENCE PROCEED N. 34 DEGREES 47’46” E. ALONG AND WITH SAID PROJECTED LINE, 55.00 FEET TO THE POINT OF BEGINNING OF
THE HEREIN DESCRIBED PROPERTY. 

 HARVEY’S LAKE TAHOE (NEVADA) 

THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE COUNTY OF DOUGLAS, STATE OF NEVADA AND IS DESCRIBED AS FOLLOWS: 

THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE COUNTY OF DOUGLAS, STATE OF NEVADA AND IS DESCRIBED AS FOLLOWS: 

PARCEL 1: 
 A parcel of land located within a portion of
Section 27, Township 13 North, Range 10 East, MDB&M, Douglas County, Nevada, being more particularly described as follows: 
 COMMENCING at a point
lying at the intersection of the California-Nevada state line and the Westerly right-of-way line at U.S. Highway 50; 

Thence N. 48°42’34” W., 990.12 feet along the California-Nevada state line to the POINT OF BEGINNING; 

Thence N. 48°42’34” W., 117.90 feet along the California-Nevada state line; 

Thence N. 30°18’30” E., 172.01 feet; 
 Thence N.
70°15’01” W., 157.23 feet; 
 Thence N. 29°43’25” W., 86.29 feet; 

Thence N. 00°50’44” E., 33.27 feet; 
 Thence N.
62°26’55” W., 72.14 feet to a point on the Easterly right-of-way line of Stateline Loop Road; 

Thence N. 23°57’13” E., 121.09 feet along said Easterly
right-of-way line; 
 Thence along said Easterly right-of-way line 144.33 feet along the arc of a curve to the right having a central angle of 

07°04’04” and a radius of 1170.00 feet (chord bears N. 27°29’15” E., 144.24 feet); 

Thence S. 62°03’50” E., 1396.61 feet to a point on the Westerly
right-of-way line of U.S. Highway 50; 
 Thence S. 27°57’22”
W., 296.01 feet along the Westerly right-of-way of U.S. Highway 50; 

Thence N. 62°02’38” W., 289.93 feet; 
 Thence N. 80°14-14” W., 709.00 feet to the POINT OF BEGINNING 
 Document No. 434235 is provided pursuant to the
requirements of Section 6.NRS 111.312. 

 PARCEL 2: 
 A parcel
of land located within a portion of Section 27, Township 13 North, Range 18 East, M.D.B.&M., Douglas County, Nevada, being more particularly described us follows: 

COMMENCING at a point lying at the intersection of the California-Nevada state line and the Westerly right-of-way line of U.S. Highway 50; 
 Thence N. 48°42’34” W., 1108.02 feet along the California
-Nevada state line to the POINT OF BEGINNING; 
 Thence N. 48°42’34” W., 306.26 feet along the California-Nevada state line to a point on the
Easterly right-or-way line of Stateline Loop Road; 
 Thence N.
23°57’13” E., 154.41 feet along the Easterly right-of-way line of Stateline Loop Road; 

Thence S. 62°26’55” E., 72.14 feet; 
 Thence S.
00°50’44” W., 33.27 feet; 
 Thence S. 29°43’25” E., 86.29 feet; 

Thence S. 70°15’01” E., 157.23 feet; 
 Thence S.
30°18’30” W., 172.01 feet to the POINT OF BEGINNING. 
 Document No. 434233 is provided pursuant to the requirements of Section 6.NRS
111.312. 
 The above Parcel 1 and 2 is also described as a whole parcel by that certain legal description contained in the Boundary Line Adjustment Grant
Bargain, Sale Deed recorded March 8, 2013 as Document No. 819513 as follows: 
 A parcel of land located within Section 27, Township 13 North,
Range 18 East, M.D.B.&M., Douglas County, Nevada, being more particularly described as follows: 
 BEGINNING at a point being the intersection the
Easterly right-of-way line of Lake Parkway and the California-Nevada State Line which bears S. 50°37’18” W., 3759.09 feet from the Northeast corner of said
Section 27; 
 Thence N. 23°59’13” E., along said Easterly
right-of-way line, 275.26 feet; 
 Thence, continuing along said Easterly right-of-way line, 144.26 feet along the arc of a curve to the right having a central angle of 07°03’ 51” and a radius of 1,170.00 feet, (chord bears N.
27°31’09” E., 144.16 feet); 
 Thence S. 62°01 ‘24” E., 293.17 to a brass cap at the Southwesterly corner of the 20.836 acre
Park Cattle Company parcel as shown on the Record of Survey Supporting a Boundary Line Adjustment for Park Cattle Co., Document No. 274260, of the Douglas County Recorder’s office; 

 Thence S. 62°01’24” E., along the Southwesterly line of said parcel, 1105.54 to the Northwesterly right-of-way line of U.S. Highway 50; 
 Thence S. 27°59’57” W.,
along said right-of-way line, 296.01 feet to the Northeasterly corner of the Harvey’s Tahoe Management Company, Inc. parcel as described in the deed, Document
No. 723806, of the Douglas County Recorder’s office; 
 Thence along the Northerly line of said Harvey’s parcel the following four courses;

 N. 62°00’03” W., 289.93 feet; 
 N.
80°11’39” W., 613.21 feet; 
 S. 48°39’46” E., 11.05 feet; 

N. 80°11’39” W., 95.61 feet to a point on the California-Nevada State Line; 

Thence N. 48°39’46” W., along said State Line, 12.93 feet to a G.L.O. brass cap State Line monument as shown on said Record of Survey, Document
No. 274260; 
 Thence N. 48°42’34” W., continuing along said State Line, 424.48 feet to the POINT OF BEGINNING. 

Said land is also shown on the Record of Survey to Support a Boundary Line Adjustment for Edgewood Companies, F.K.A. Park Cattle Company, according to the map
thereof, filed in the office of the County Recorder of Douglas County, State of Nevada on March 8, 2013, in Book 313, Page 1687, as File No. 819512, Official Records. 

APN: 1318-27-001-013 

Document No. 819513 is provided pursuant to the requirements of Section 6.NRS 111.312. 

HARVEY’S LAKE TAHOE (CALIFORNIA) 
 THE LAND
REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF SOUTH LAKE TAHOE, COUNTY OF EL DORADO, STATE OF CALIFORNIA AND IS DESCRIBED AS FOLLOWS: 
 A parcel of
land located within a portion of Section 27, Township 13 North, Range 18 East, M.D.B.&M., El Dorado County, California, being more particularly described as follows: 

Commencing at a point lying at the intersection of the California-Nevada State Line and the westerly right of way line of U.S. Highway 50; Thence North 48°
42’ 34” West, 1104.38 feet along the California-Nevada State Line to the point of beginning; thence South 88° 32’ 23” West, 290.89 feet along the Northerly right of way line of Stateline Avenue; thence along the Easterly
right of way line of Stateline Loop Road, 37.84 feet along the arc of a curve to the right having a central angle of 108° 24’ 37” and a radius of 20.00 feet (chord bears North 37° 15’ 44” West, 32.44 feet); thence
continuing along the Easterly right of way line of Stateline Loop Road, 75.86 feet along the arc of a non-tangent compound curve having a central angle of 07° 00’ 36” and a

 
radius of 620.00 feet (chord bears North 20° 26’ 55” East, 75.81 feet); thence North 23° 57’ 13” East, 125.90 feet to a point on the California-Nevada State Line;
thence departing said Easterly right of way line of Stateline Loop Road, South 48° 42’ 34” East, 309.89 feet along the California-Nevada State Line to the point of beginning. 

HORSESHOE BOSSIER – WATER BOTTOM 
 TRACT
3: (APN: N/A) 
 PROPERTY “Z” 
 Fee Simple:
State of Louisiana, State Land Office 
 Leasehold: Horseshoe Entertainment 

That certain leasehold estate created by the Lease affecting the following described property: 

A tract of land located adjacent to Section 29, 30 and 32, Township 18 North, Range 13 West, Bossier City, Bossier Parish, Louisiana, being more fully
described as follows: 
 Commencing at the Southwest corner of Lot 81, of the Corrected Map of East Shreveport Subdivision, as recorded in Book 60, page 17
of the Records of Bossier Parish, Louisiana; run thence along the line which is an extension of the Northerly right of way line of Rush Street South 50°23’52” West a distance of 46.12 feet to a point on the Westerly toe of the Levee;
run thence along said toe South 50°18’57” East a distance of 555.42 feet to a point on the Northerly right of way line of the East approach to the Traffic Street Bridge as recorded in Book 35, page 169 of the Records of Bossier Parish,
Louisiana; run thence along said Northerly right of way line South 49°05’52” West a distance of 563.81 feet to a point on the Easterly Bank of Red River; run thence along said bank the following courses and distances: North
24°04’48” West a distance of 121.67 feet; North 21°19’14” West a distance of 100.63 feet; North 17°23’06” East a distance of 22.62 feet; thence leaving said bank run South 62°39’42” West a
distance of 65.10 feet more or less to the mean low water level of Red River, SAID POINT BEING THE POINT OF BEGINNING of tract herein described: 
 Continue
thence South 62°39’42” West a distance of 163.93 feet into Red River; run thence North 27°49’38” West a distance of 400.00 feet; run thence North 62°39’42” East a distance of 193.18 feet more or less to the
mean low water level of the River; run thence with the mean low water level South 27°20’18” East a distance of 370.60 feet more or less and South 13°58’04” West a distance of 39.13 feet more or less to the Point of
Beginning of tract, containing 1.75 acres, more or less. 
 HORSESHOE BOSSIER – BONOMO 

TRACT 2: (APN: 124188) 

			
	Fee Simple:	  	Bonomo Investment Company, LLC & except as to the West 30 feet of the East 40 feet of Lot 41 which is vested in Johnny Bonomo, Jr. and Mary Cordaro Bonomo
		
	Leasehold:	  	Horseshoe Entertainment

 Lease affecting Lots 37, 38, 39, and the East 55 feet of Lot 40, and the East 40 feet of Lot 41, Corrected Map of East
Shreveport, a subdivision of the City of Bossier City, as per plat recorded in Book 60, page 17 of the Conveyance Records of Bossier Parish, Louisiana. 

HORSESHOE HAMMOND – NATIONAL RAILROAD 
 Parcel
1: 
 All of that certain premises as demised and depicted on an Exhibit to that Memorandum of Lease by and between National Railroad Passenger Corporation
(Landlord) and Horseshoe Hammond, LLC (Tenant) dated                     , 2017, defined as being a 78,805 S.F./1.809 acre leased area and also a
leased 25’ non-exclusive roadway, being a portion of that parcel described herein below: 
 ALL THAT PARCEL of
land situate in the City of Hammond, County of Lake and State of Indiana, being part of Section 6, Township 37 North, Range 9 West, of the Second Principal Meridian, bounded and described according to a plan of survey made by Plumb, Tuckett and
Hubbard, Inc., Consulting Engineers, dated November 8, 1978, as follows, viz: COMMENCING at the Southwest corner of said Section 6; thence extending North 0 degrees 41 minutes 54 seconds East, along the West line of said Section 6,
said West line being coincident with the centerline of Calumet Avenue, 3,406.41 feet to a P.K. nail marking the true point of beginning for the parcel of land being described; EXTENDING from said true point of beginning the following five courses
and distances: (1) North 0 degrees 41 minutes 54 seconds East, continuing along said West line of Section 6 and centerline of Calumet Avenue, 168.76 feet to a P.K. nail in the southwesterly line of land now or formerly of Baltimore and
Ohio Railroad; thence (2) Southeastwardly, by said last mentioned land, on a curve to the left having a radius of 11,277.44 feet, the chord of which bears South 50 degrees 40 minutes 32 seconds East, for a length of 914.78 feet, the arc
distance of 915.03 feet to a point of tangent marked by an iron pin; thence (3) South 53 degrees 00 minutes East, still by the last mentioned land, 328.30 feet to a P.K. nail in the centerline of Lake Avenue; thence (4) South 0 degrees 42
minutes 48 seconds West, along said centerline of Lake Avenue, 220.32 feet to a P.K. nail; thence (5) North 49 degrees 27 minutes 36 seconds West, 1275.61 feet to the place of beginning. CONTAINING 178,997.73 square feet, more or less, or
4.109 acres, more or less. 
 HORSESHOE HAMMOND – WATERWORKS 

PARCEL 4: (1001 Calumet Avenue) 
 A 32.00 foot-wide strip
of land being a part of the Northwest Quarter of Section 6, Township 37 North, Range 9 West located in North Township, Lake County, Indiana, the centerline of which is described as follows: 

 Commencing at the Southeast corner of the Southeast Quarter of Section 1, Township 37 North, Range 10 West;
thence North 01 degree 01 minute 03 seconds West (assumed bearing) 4,091.63 feet along the East line of said Section 1 and along the West line of Section 6, Township 37 North, Range 9 West to a point on a
non-tangent curve concave to the northeast, said point being South 38 degrees 59 minutes 01 second West 1,637.02 feet from the radius point of said curve; thence southeasterly 62.23 feet along said curve to
its point of tangency, said point of tangency being South 36 degrees 48 minutes 21 seconds West 1,637.02 feet from the radius point of said curve; thence South 53 degrees 11 minutes 39 seconds East 650.47 feet to the point of curvature of a curve to
the left, said point of curvature being South 36 degrees 48 minutes 21 seconds West 2,864.79 feet from the radius point of said curve; thence southeasterly 84.09 feet along said curve to its point of tangency, said point of tangency being South 35
degrees 07 minutes 27 seconds West 2,864.79 feet from the radius point of said curve; thence South 54 degrees 52 minutes 33 seconds East 325.80 feet to the point of curvature of a curve to the left, said point of curvature being South 35 degrees 07
minutes 27 seconds West 55.00 feet from the radius point of said curve; thence Southeasterly, Easterly, Northeasterly, Northerly, and Northwesterly 142.07 feet along said curve to its point of tangency being North 67 degrees 07 minutes 27 seconds
East 55.00 feet from the radius point of said curve; thence North 22 degrees 52 minutes 33 seconds West 53.74 feet to the point of curvature of a curve to the right, said point of curvature being South 67 degrees 07 minutes 27 seconds West 55.00
feet from the radius point of said curve; thence Northwesterly, Northerly and Northeasterly 56.62 feet along said curve to its point of tangency, said point of tangency being North 53 degrees 53 minutes 40 seconds West 55.00 feet from the radius
point of said curve; thence North 36 degrees 06 minutes 20 seconds East 15.67 feet to the POINT OF BEGINNING of this centerline description; thence North 36 degrees 06 minutes 20 seconds East 254.64 feet to the point of curvature of a curve left,
said point of curvature being South 53 degrees 53 minutes 40 seconds East 40.00 feet from the radius point of said curve; thence Northeasterly, Northerly, and Northwesterly 63.49 feet along said curve to its point of tangency, said point of tangency
being North 35 degrees 09 minutes 56 seconds East 40.00 feet from the radius point of said curve; thence North 54 degrees 50 minutes 04 seconds West 117.95 feet to the point of curvature of a curve to the right, said point of curvature being South
35 degrees 09 minutes 56 seconds West 40.00 feet from the radius point of said curve; thence Northwesterly, Northerly, and Northeasterly 60.84 feet along said curve to its point of tangency, said point of tangency being North 57 degrees 40 minutes
52 seconds West 40.00 feet from the radius point of said curve; thence North 32 degrees 19 minutes 08 seconds East 330.68 feet to the point of curvature of a curve to the left, said point of curvature being South 57 degrees 40 minutes 52 seconds
East 40.00 feet from the radius point of said curve; thence Northeasterly, Northerly and Northwesterly 60.76 feet along said curve to its point of tangency, said point of tangency being North 35 degrees 17 minutes 10 seconds East 40.00 feet from the
radius point of said curve; thence North 54 degrees 42 minutes 50 seconds West 227.88 feet to the terminus of this centerline description. 

HORSESHOE HAMMOND – CITY OF HAMMOND, DEPARTMENT OF REDEVELOPMENT 

PARCEL 2: (825 Empress Drive) 

 A part of the Northwest Quarter of Section 6, Township 37 North, Range 9 West located in North Township,
Lake County, Indiana, being bounded as follows: 
 Commencing at the Southeast Corner of the Southeast Quarter of Section 1, Township 37 North, Range 10
West; thence North 01 degree 01 minute 03 seconds West (assumed bearing) 4,209.68 feet along the East line of said Section 1 and along the West line of Section 6, Township 37 North, Range 9 West; thence South 41 degrees 13 minutes 34
seconds East 61.96 feet; thence South 41 degrees 13 minutes 34 seconds East 90.30 feet to the point of curvature of a curve to the left, said point of curvature being South 48 degrees 46 minutes 26 seconds West 2,814.93 feet from the radius point of
said curve; thence southeasterly 229.77 feet along said curve to a point being South 44 degrees 05 minutes 50 seconds West 2,814.93 feet from the radius point of said curve; thence North 35 degrees 17 minutes 10 seconds East 17.84 feet to the Point
of Beginning of this description; thence North 35 degrees 17 minutes 10 seconds East 813.45 feet; thence North 79 degrees 22 minutes 58 seconds East 71.38 feet; thence South 54 degrees 36 minutes 55 seconds East 100.48 feet; thence South 35 degrees
23 minutes 05 seconds West 90.00 feet; thence North 54 degrees 36 minutes 55 seconds West 110.00 feet; thence South 35 degrees 17 minutes 10 seconds West 780.38 feet; thence North 46 degrees 40 minutes 28 seconds West 40.40 feet to the Point of
Beginning. 
 PARCEL 3: (1001 Calumet Avenue) 
 A part of the
Northwest Quarter of Section 6, Township 37 North, Range 9 West, located in North Township, Lake County, Indiana, being bounded as follows: 

Commencing at the Southeast corner of the Southeast Quarter of Section 1, Township 37 North, Range 10 West; thence North 01 degree 01 minute 03 seconds
West (assumed bearing) 4,209.68 feet along the East line of said Section 1 and along the West line of Section 6, Township 37 North, Range 9 West; thence South 41 degrees 13 minutes 34 seconds East 61.96 feet; thence South 41 degrees 13
minutes 34 seconds East 90.30 feet to the point of curvature of a curve to the left, said point of curvature being South 48 degrees 46 minutes 26 seconds West 2,814.93 feet from the radius point of said curve; thence southeasterly 229.76 feet along
said curve to a point being South 44 degrees 05 minutes 50 seconds West 2,814.93 feet from the radius point of said curve; thence North 35 degrees 17 minutes 10 seconds East 831.29 feet; thence North 79 degrees 22 minutes 58 seconds East 71.38 feet;
thence South 54 degrees 36 minutes 55 seconds East 100.48 feet to the Point of Beginning of this description; thence continuing South 54 degrees 36 minutes 55 seconds East 146.67 feet; thence South 35 degrees 16 minutes 41 seconds West 523.46 feet;
thence North 54 degrees 35 minutes 11 seconds West 236.35 feet; thence South 35 degrees 15 minutes 53 seconds West 349.92 feet; thence North 46 degrees 40 minutes 28 seconds West 20.88 feet; thence North 35 degrees 17 minutes 10 seconds East 780.38
feet; thence South 54 degrees 36 minutes 55 seconds East 110.00 feet; thence North 35 degrees 23 minutes 05 seconds East 90.00 feet to the Point of Beginning. 

PARCEL 5: (1002 Calumet Avenue) 
 A part of the Northeast
Quarter of Section 1, Township 37 North, Range 10 West located in North Township, Lake County, Indiana, being bounded as follows: 

 Commencing at the Southeast corner of the Southeast Quarter of Section 1, Township 37 North, Range 10 West;
thence North 01 degree 01 minutes 03 seconds West (assumed bearing) 2,195.00 feet along the East line of said Section 1 to its point of intersection with the centerline of Indianapolis Boulevard (100 foot wide right-of-way); thence North 40 degrees 07 minutes 55 seconds West 3,007.99 feet along the centerline of Indianapolis Boulevard; thence North 49 degrees 52 minutes 05 seconds East 50.00 feet perpendicular to
the centerline of Indianapolis Boulevard to the northeastern right-of-way line of Indianapolis Boulevard; thence North 40 degrees 07 minutes 55 seconds West 190.50 feet
along the northeastern right-of-way line of Indianapolis Boulevard; thence North 51 degrees 02 minutes 14 seconds East 290.22 feet; thence South 60 degrees 14 minutes 57
seconds East 49.35 feet; thence North 54 degrees 00 minutes 00 seconds East 528.73 feet to the point of curvature of a curve to the right, said point of curvature being North 36 degrees 00 minutes 00 seconds West 326.48 feet from the radius point of
said curve; thence northeasterly and easterly 176.71 feet along said curve to a point being North 04 degrees 59 minutes 19 seconds West 326.48 feet from the radius point of said curve and to the Point of Beginning of this description; thence North
48 degrees 49 minutes 21 seconds East 35.00 feet; thence South 41 degrees 10 minutes 39 seconds East 625.56 feet; thence South 41 degrees 14 minutes 09 seconds East 34.87 feet to a point on a non-tangent curve
concave to the northeast (said curve hereinafter referred to as “Curve #1”), said point of curvature being South 48 degrees 38 minutes 51 seconds West 5,682.15 feet from the radius point of said curve; thence southeasterly 150.03 feet
along Curve #1 to a point being South 47 degrees 08 minutes 05 seconds West 5,682.15 feet from the radius point of Curve #1; thence North 48 degrees 45 minutes 56 seconds East 96.78 feet; thence South 41 degrees 14 minutes 04 seconds East 100.00
feet; thence South 48 degrees 45 minutes 56 seconds West 128.09 feet to a point on a non-tangent curve concave to the northeast (said curve is concentric with Curve #1), said point being South 46 degrees 08
minutes 30 seconds West 5,717.15 feet from the radius point of said curve; thence North 41 degrees 14 minutes 09 seconds West 34.96 feet; thence North 41 degrees 10 minutes 39 seconds West 625.58 feet to the Point of Beginning. 

PARCEL 6: (1001 Calumet Avenue) 
 A part of the Northeast
Quarter of Section 1, Township 37 North, Range 10 West and a part of Section 36, Township 38 North, Range 10 West located in North Township, Lake County, Indiana, being bounded as follows: 

Commencing at the Southeast corner of the Southeast Quarter of Section 1, Township 37 North, Range 10 West; thence North 01 degree 01 minute 03 seconds
West (assumed bearing) 2,195.00 feet along the East line of said Section 1 to its point of intersection with the centerline of Indianapolis Boulevard (100 foot wide
right-of-way); thence North 40 degrees 07 minutes 55 seconds West 3,007.99 feet along the centerline of Indianapolis Boulevard; thence North 49 degrees 52 minutes 05
seconds East 50.00 feet perpendicular to the centerline of Indianapolis Boulevard to the northeastern right-of-way line of Indianapolis Boulevard; thence North 40
degrees 07 minutes 55 seconds West 190.50 feet along the northeastern right-of-way line of Indianapolis Boulevard; thence North 51 degrees 02 minutes 14 seconds East
290.22 feet; thence South 60 degrees 14 minutes 57 seconds East 49.35 feet; thence North 54 degrees 00 minutes 00 seconds East 528.73 feet to the point of curvature of a curve to the right, said point of curvature

 
being North 36 degrees 00 minutes 00 seconds West 326.48 feet from the radius point of said curve; thence northeasterly and easterly 118.22 feet along said curve to the southwestern boundary of
the 21.255 acre tract of land described in the Quitclaim Deed recorded as instrument #91018107 on April 17, 1991, in the Office of the Recorder of Lake County, Indiana, said point being North 15 degrees 15 minutes 10 seconds West 326.48 feet
from the radius point of said curve, the next seven (7) courses are along the boundary of said 21.255 acre tract of land; 1) thence North 41 degrees 15 minutes 08 seconds West 1,700.29 feet to the Point of Beginning of this description; 2)
thence North 41 degrees 15 minutes 08 seconds West 1,539.62 feet to the point of curvature of a curve to the right, said point of curvature being South 48 degrees 44 minutes 52 seconds West 24,828.52 feet from the radius point of said curve; 3)
thence northwesterly 281.79 feet along said curve to its point of tangency, said point of tangency being South 49 degrees 23 minutes 53 seconds West 24,828.52 feet from the radius point of said curve; 4) thence North 40 degrees 36 minutes 07 seconds
West 1,474.75 feet to the Indiana/Illinois State Line; 5) thence North 00 degrees 52 minutes 04 seconds West 138.52 feet along the Indiana/Illinois State Line; 6) thence South 48 degrees 50 minutes 29 seconds East 279.19 feet; 7) thence South 41
degrees 14 minutes 04 seconds East 2,051.13 feet to the northwestern corner of the tract of land described in the Quitclaim Deed recorded in Deed Record 1219, page 31, on November 5, 1962, in said Recorder’s Office, said corner being on
“Eggers Fence Line”; thence South 87 degrees 40 minutes 04 seconds East 11.27 feet along the northern boundary of said tract of land which is also along “Eggers Fence Line”; thence South 41 degrees 12 minutes 09 seconds East
139.21 feet; thence South 40 degrees 14 minutes 07 seconds East 154.35 feet to a point on a non-tangent curve concave to the southwest, said point being North 51 degrees 42 minutes 18 seconds East 1,514.88
feet from the radius point of said curve; 
 thence southeasterly 141.95 feet along said curve to a point being North 57 degrees 04 minutes 25 seconds East
1,514.88 feet from the radius point of said curve; thence South 30 degrees 59 minutes 10 seconds East 154.35 feet; thence South 30 degrees 01 minute 09 seconds East 186.88 feet; thence South 30 degrees 59 minutes 24 seconds East 155.62 feet to a
point on a non-tangent curve concave to the northeast, said point being South 57 degrees 04 minutes 25 seconds West 1,539.88 feet from the radius point of said curve; thence southeasterly 143.63 feet to a
point being South 51 degrees 43 minutes 47 seconds West 1,539.88 feet from the radius point of said curve; thence South 48 degrees 44 minutes 52 seconds West 29.89 feet to the Point of Beginning; 

ALSO, a part of the Northeast Quarter of Section 1, Township 37 North, Range 10 West and a part of Section 36, Township 38 North, Range 10 West
located in North Township, Lake County, Indiana, being bounded as follows: 
 Commencing at the Southeast corner of the Southeast Quarter of Section 1,
Township 37 North, Range 10 West; thence North 01 degree 01 minute 03 seconds West (assumed bearing) 2,195.00 feet along the East line of said Section 1 to its point of intersection with the centerline of Indianapolis Boulevard (100 foot wide right-of-way); thence North 40 degrees 07 minutes 55 seconds West 3,007.99 feet along the centerline of Indianapolis Boulevard; thence North 49 degrees 52 minutes 05 seconds
East 50.00 feet perpendicular to the centerline of Indianapolis Boulevard to the northeastern right-of-way line of Indianapolis Boulevard; thence North 40 degrees 07
minutes 55 seconds West 190.50 feet along the northeastern right-of-way line of 

 
Indianapolis Boulevard; thence North 51 degrees 02 minutes 14 seconds East 290.22 feet; thence South 60 degrees 14 minutes 57 seconds East 49.35 feet; thence North 54 degrees 00 minutes 00
seconds East 528.73 feet to the point of curvature of a curve to the right (said curve hereinafter referred to as “Curve #1), said point of curvature being North 36 degrees 00 minutes 00 seconds West 326.48 feet from the radius point of Curve
#1; thence northeasterly and easterly 176.71 feet along Curve #1 to a point being North 04 degrees 59 minutes 19 seconds West 326.48 feet from the radius point of Curve #1 and to the Point of Beginning of this description; thence North 41 degrees 10
minutes 39 seconds West 1,372.17 feet to the point of curvature of a curve to the right, said point of curvature being South 48 degrees 49 minutes 21 seconds West 474.78 feet from the radius point of said curve; thence northwesterly 58.94 feet along
said curve to its point of tangency, said point of tangency being South 55 degrees 56 minutes 06 seconds West 474.78 feet from the radius point of said curve; thence North 34 degrees 03 minutes 54 seconds West 45.58 feet to point of curvature of
curve to the left, said point of curvature being North 55 degrees 56 minutes 06 seconds East 729.28 feet from the radius point of said curve; thence northwesterly 90.62 feet along said curve to its point of tangency, said point of tangency being
North 48 degrees 48 minutes 55 seconds East 729.28 feet from the radius point of said curve; thence North 41 degrees 11 minutes 05 seconds West 8.90 feet; thence North 40 degrees 12 minutes 29 seconds West 154.34 feet to a point on a non-tangent
curve concave to the northeast, said point being South 51 degrees 45 minutes 03 seconds West 1,500.05 feet from the radius point of said curve; thence northwesterly 138.44 feet along said curve to a point being South 57 degrees 02 minutes 18 seconds
West 1,500.05 feet from the radius point of said curve; thence North 31 degrees 00 minutes 10 seconds West 154.34 feet; thence North 30 degrees 01 minute 34 seconds West 170.82 feet to the point of curvature of a curve to the right, said point of
curvature being South 59 degrees 58 minutes 26 seconds West 1,420.19 feet from the radius point of said curve; thence northwesterly and northerly 273.83 feet along said curve to its point of tangency, said point of tangency being South 71 degrees 01
minute 16 seconds West 1,420.10 feet from the radius point of said curve; thence North 18 degrees 58 minutes 44 seconds West 56.31 feet to a point on the northwesterly extension of the southwestern boundary of the 16.039 acre tract of land described
in the Warranty Deed recorded in Deed Record 1218, page 592, on November 9, 1962, in the Office of the Recorder of Lake County, Indiana; thence South 41 degrees 14 minutes 04 seconds East 2,501.08 feet along the northwesterly extension of the
southwestern boundary of said 16.039 acre tract of land and along the southwestern boundary of said 16.039 acre tract of land to a point being North 48 degrees 49 minutes 21 seconds East of the point of beginning; thence South 48 degrees 49 minutes
21 seconds West 193.47 feet to the Point of Beginning. 
 EXCEPTING AND EXCLUDING the following from the above-described parcels: 

A parcel of real estate that is two hundred (200) feet wide (measured from east to west) and fifty (50) feet in depth (measured from north to south)
and located in the northeasternmost corner of the above-described parcels. 

 PARCEL 7: 
 A 32.00
foot-wide strip of land being a part of the Northwest Quarter of Section 6, Township 37 North, Range 9 West located in North Township, Lake County, Indiana, the centerline of which is described as follows: 

Commencing at the Southeast corner of the Southeast Quarter of Section 1, Township 37 North, Range 10 West; thence North 01 degree 01 minute 03 seconds
West (assumed bearing) 4,091.63 feet along the East line of said Section 1 and along the West line of Section 6, Township 37 North, Range 9 West to a point on a non-tangent curve concave to the
northeast, said point being South 38 degrees 59 minutes 01 second West 1,637.02 feet from the radius point of said curve; thence southeasterly 62.23 feet along said curve to its point of tangency, said point of tangency being South 36 degrees 48
minutes 21 seconds West 1,637.02 feet from the radius point of said curve; thence South 53 degrees 11 minutes 39 seconds East 650.47 feet to the point of curvature of a curve to the left, said point of curvature being South 36 degrees 48 minutes 21
seconds West 2,864.79 feet from the radius point of said curve; thence southeasterly 84.09 feet along said curve to its point of tangency, said point of tangency being South 35 degrees 07 minutes 27 seconds West 2,864.79 feet from the radius point
of said curve; thence South 54 degrees 52 minutes 33 seconds East 325.80 feet to the point of curvature of a curve to the left, and to the point of beginning of this description, said point of curvature being South 35 degrees 07 minutes 27 seconds
West 55.00 feet from the radius point of said curve; thence Southeasterly, Easterly, Northeasterly, Northerly, and Northwesterly 142.07 feet along said curve to its point of tangency, said point of tangency being North 67 degrees 07 minutes 27
seconds East 55.00 feet from the radius point of said curve; thence North 22 degrees 52 minutes 33 seconds West 53.74 feet to the point of curvature of a curve to the right, said point of curvature being South 67 degrees 07 minutes 27 seconds West
55.00 feet from the radius point of said curve; thence Northwesterly, Northerly and Northeasterly 56.62 feet along said curve to its point of tangency, said point of tangency being North 53 degrees 53 minutes 40 seconds West 55.00 feet from the
radius point of said curve; thence North 36 degrees 06 minutes 20 seconds East 270.31 feet to the point of curvature of a curve left, said point of curvature being South 53 degrees 53 minutes 40 seconds East 40.00 feet from the radius point of said
curve; thence Northeasterly, Northerly, and Northwesterly 63.49 feet along said curve to its point of tangency, said point of tangency being North 35 degrees 09 minutes 56 seconds East 40.00 feet from the radius point of said curve; thence North 54
degrees 50 minutes 04 seconds West 117.95 feet to the point of curvature of a curve to the right, said point of curvature being South 35 degrees 09 minutes 56 seconds West 40.00 feet from the radius point of said curve; thence Northwesterly,
Northerly, and Northeasterly 60.84 feet along said curve to its point of tangency, said point of tangency being North 57 degrees 40 minutes 52 seconds West 40.00 feet from the radius point of said curve; thence North 32 degrees 19 minutes 08 seconds
East 330.68 feet to the point of curvature of a curve to the left, said point of curvature being South 57 degrees 40 minutes 52 seconds East 40.00 feet from the radius point of said curve; thence Northeasterly, Northerly and Northwesterly 60.76 feet
along said curve to its point of tangency, said point of tangency being North 35 degrees 17 minutes 10 seconds East 40.00 feet from the radius point of said curve; thence North 54 degrees 42 minutes 50 seconds West 227.88 feet to the terminus of
this centerline description. 

 EXCEPTING THEREFROM THE PROPERTY DESCRIBED AS FOLLOWS: 

A 32 foot-wide strip of land being a part of the Northwest Quarter of Section 6, Township 37 North, Range 9 West located in North Township, Lake County,
Indiana the centerline of which is described as follows: 
 Commencing at the Southeast corner of the Southeast Quarter of Section 1, Township 37 North,
Range 10 West; thence North 01 degrees 01 minutes 03 seconds West (assumed bearing) 4,091.63 feet along the East line of said Section 1 and along the West line of Section 6, Township 37 North, Range 9 West to a point on a non-tangent curve concave to the Northeast, said point being South 38 degrees 59 minutes 01 seconds West, 1637.02 feet from the radius point of said curve; thence Southeasterly 62.23 feet along said curve to its
point of tangency, said point of tangency being South 36 degrees 43 minutes 21 seconds West, 1637.02 feet from the radius point of said curve; thence South 53 degrees 11 minutes 39 seconds East, 650.47 feet to the point of a curvature of a curve to
the left, said point of curvature being South 36 degrees 48 minutes 21 seconds West, 2864.79 feet from the radius point of said curve; thence Southeasterly 84.09 feet along said curve to its point of tangency, said point of tangency being South 35
degrees 07 minutes 27 seconds West 2864.79 feet from the radius point of said curve; thence South 54 degrees 52 minutes 33 seconds East 325.80 feet to the point of curvature of a curve to the left, said point of curvature being South 35 degrees 07
minutes 27 seconds West 55.00 feet from the radius point of said curve; thence Southeasterly, Easterly, Northeasterly, Northerly, and Northwesterly 142.07 feet along said curve to its point of tangency, said point of tangency being North 67 degrees
07 minutes 27 seconds East 55.00 feet from the radius point of said curve; thence North 22 degrees 52 minutes 33 seconds West 53.74 feet to the point of curvature of a curve to the right, said point of curvature being South 67 degrees 07 minutes 27
seconds West 55.00 feet from the radius point of said curve; thence Northwesterly, Northerly, and Northeasterly 56.62 feet along said curve to its point of tangency, said point of tangency being North 53 degrees 53 minutes 40 seconds West 55.00 feet
from the radius point of said curve; thence North 36 degrees 06 minutes 20 seconds East 15.67 feet to the Point of Beginning of this centerline description; thence North 36 degrees 06 minutes 20 seconds East 254.64 feet to the point of curvature of
a curve left, said point of curvature being South 53 degrees 53 minutes 40 seconds East 40.00 feet from the radius point of said curve; thence Northeasterly, Northerly, and Northwesterly 63.49 feet along said curve to its point of tangency, said
point of tangency being North 35 degrees 09 minutes 56 seconds East 40.00 feet from the radius point of said curve; thence North 54 degrees 50 minutes 04 seconds West 117.95 feet to the point of curvature of a curve to the right, said point of
curvatures being South 35 degrees 09 minutes 56 seconds West 40.00 feet from the radius point of said curve; thence Northwesterly, Northerly, and Northeasterly 60.84 feet along said curve to its point of tangency, said point of tangencey being North
57 degrees 40 minutes 52 seconds West 40.00 minutes 52 seconds West 40.00 feet from the radius point of said curve; thence North 32 degrees 19 minutes 08 seconds East 330.68 feet to the point of curvature of a curve to the left, said point of
curvature being South 57 degrees 40 minutes 52 seconds East 40.00 feet from the radius point of said curve; thence Northeasterly, Northerly, and Northwesterly 60.76 feet along said curve to its point of tangency, said point of tangency being North
35 degrees 17 minutes 10 seconds East 40.00 feet from the radius point of said curve; thence North 54 degrees 42 minutes 50 seconds West 227.88 feet to the TERMINUS of this centerline description. 

 PARCEL 8: 
 A part
of the Northwest Quarter of Section 6, Township 37 North, Range 9 West, and part of the Northeast Quarter of Section 1, Township 37 North, Range 10 West, more particularly described as follows: 

Commencing at the intersection of the East line of said Section 1 and the Northerly line of the Baltimore and Ohio Railroad
right-of-way, said point being North 00 degrees 28 minutes 23 seconds East (basis of bearings is Indiana State Plane NAD 83 Grid Bearing-West Zone) 4054.75 feet by
direct line from the Southeast corner of said Section 1; thence along the East line of said Section 1 North 00 degrees 27 minutes 13 seconds East 92.96 feet to the point of beginning and a point on the South line of land described in
Instrument No. 2000-054153, said point being 40 feet from the Northerly right of way of the Elgin Joliet and Eastern Railroad (the next 4 courses are along the Southerly, Easterly, and Northerly lines of said instrument); (1) thence South 39
degrees 44 minutes 48 seconds East 105.61 feet to a curve having a radius of 2637.78 feet, the radius point of which bears North 50 degrees 15 minutes 13 seconds East; (2) thence Southeasterly along said curve 238.83 feet to a point which bears
South 45 degrees 03 minutes 57 seconds West from said radius point, said point being on the Southerly extension of the lakeside face of the sheet piling wall; (3) thence along said wall North 36 degrees 47 minutes 33 seconds East 315.53 feet to
a point on the present shoreline of Lake Michigan; (4) thence Northwesterly along the present shoreline of Lake Michigan 462 feet more or less; thence South 38 degrees 37 minutes 30 seconds West 102.49 feet; thence South 73 degrees 07 minutes
56 seconds West 43.25 feet; thence North 51 degrees 22 minutes 29 seconds West 41.88 feet; thence South 47 degrees 41 minutes 38 seconds West 41.79 feet; thence North 42 degrees 09 minutes 44 seconds West 16.98 feet; thence South 51 degrees 16
minutes 43 seconds West 105.38 feet to a point on a non-tangent curve, the radius point of which bears North 48 degrees 44 minutes 26 seconds East, said point also being on the Northerly line of land described
in Instrument No. 97014032; thence along said Northerly line and Southeasterly along said curve a distance of 213.39 feet to a point which bears South 43 degrees 21 minutes 29 seconds West from said radius point, and the point of beginning.

 PARCEL 9: 
 A part of the Northeast Quarter of
Section 1, Township 37 North, Range 10 West, more particularly described as follows: 
 Commencing at the intersection of the East line of said
Section 1 and the Northerly line of the Baltimore and Ohio Railroad right of way, said point being North 00 degrees 28 minutes 23 seconds East (basis of bearing is Indiana State Plane NAD 83 Grid Bearing—West Zone) 4054.75 feet by direct
line from the Southeast corner of said Section 1; thence along the East line of said Section 1 North 00 degrees 27 minutes 13 seconds East 92.96 feet to a point on the North line of land described in Instrument No. 97014032, (the next
3 courses are along the Northerly line of said instrument), said point being on a non-tangent curve, the radius point of which bears North 43 degrees 21 minutes 29 seconds East; (1) thence Northwesterly
along said curve a distance of 213.39 feet to a point which bears South 48 degrees 44 minutes 26 seconds West from said radius point, said point also being the Point of Beginning; (2) thence continuing along said curve a distance of 23.47 feet
to a point which bears South 49 degrees 19 minutes 57 

 
seconds East from said radius point; (3) thence North 40 degrees 40 minutes 03 seconds West 105.47 feet; thence North 48 degrees 34 minutes 46 seconds East 147.21 feet; thence South 22
degrees 59 minutes 46 seconds East 57.77 feet; thence South 51 degrees 22 minutes 29 seconds East 96.88 feet; thence South 47 degrees 41 minutes 38 seconds West 41.79 feet; thence North 42 degrees 09 minutes 44 seconds West 16.98 feet; thence South
51 degrees 16 minutes 43 seconds West 105.38 feet; to the Point of Beginning. 
 HARRAH’S NORTH KANSAS CITY 

TRACT 1: 
 LEASED PARCELS: 

Leasehold Interest created by the Ground Lease described in and disclosed by that certain Short Form Lease between the City of North Kansas City, Missouri, a
Missouri municipal corporation, lessor, and Harrah’s—North Kansas City Corporation, a Nevada corporation, lessee, dated July 12, 1993, recorded July 28, 1993, as Document No. L-81751, in
Book 2252 at Page 712, demising and leasing Leased Parcels I through X of Tract 1 for a term of ten (10) years, with the option to extend the term for four (4) consecutive periods of five (5) years each. As amended by the First
Amendment to Ground Lease dated November 22, 1994, recorded December 21, 1995, as Document No. M-80946, in Book 2512 at Page 434. As further amended by the Second Amendment to Ground Lease dated
December 19, 1995, recorded December 21, 1995, as Document No. M-80947, in Book 2512 at Page 447. And as further amended by the Third Amendment to Ground Lease dated December 22, 1998, recorded
February 10, 1999 as Document No. P-34397, in Book 2959 at Page 305. 
 LEASED PARCEL I: 

All that part of Fractional Section 18, Township 50, Range 32, in North Kansas City, Clay County, Missouri, being more particularly described as follows:

 Commencing at the Northwest corner of said Fractional Section 18; thence South 0 degrees 46 minutes 41 seconds West (South 0 degrees 50 minutes 07
seconds West Deed) along the West line of said Fractional Section 18, a distance of 2045.58 feet (2044.65 feet Deed) to a point on the South Right of Way line of the Norfolk and Western Railway; thence North 85 degrees 21 minutes 52 seconds
East (North 85 degrees 30 minutes 00 seconds East Deed) along said South Right of Way line, a distance of 402.11 feet; thence South 0 degrees 33 minutes 52 seconds West (South 0 degrees 42 minutes 00 seconds West Deed), 364.36 feet to the point of
intersection of the East Right of Way line of the North Kansas City Levee District with the South Right of Way line of the Rock Creek Drainage Channel Right of Way, as established by Circuit Court Case No. 19715 on April 30, 1951, and the
Point of Beginning of the tract of land to be herein described; thence South 78 degrees 04 minutes 35 seconds East (South 77 degrees 56 minutes 27 seconds East Deed) along said South Right of Way line, a distance of 2243.66 feet (2248.55 feet Deed)
to a point on the high bank of the Missouri River as described in Document No. D 46601 in Book 1257 at Page 928; thence the following courses along said high bank; thence South 47 degrees 12 minutes 35 seconds West (South 47 minutes 20 minutes 42
seconds West Deed), 139.61 feet (137.34 feet Deed); thence South 41 degrees 53 minutes 52 seconds West (South 42 degrees 02 minutes 00 seconds West Deed), 200.01 feet; thence South 42 degrees 28 minutes 15 seconds

 
West (South 42 degrees 36 minutes 23 seconds West Deed), 200.04 feet; thence South 39 degrees 19 minutes 14 seconds West (South 39 degrees 27 minutes 22 seconds West Deed), 200.12 feet; thence
South 36 degrees 38 minutes 04 seconds West (South 36 degrees 46 minutes 12 seconds West Deed), 203 feet; thence South 36 degrees 17 minutes 41 seconds West (South 36 degrees 25 minutes 49 seconds West Deed), 200.56 feet; thence South 30 degrees 51
minutes 35 seconds West (South 30 minutes 59 minutes 42 seconds West Deed), 200.04 feet; thence South 29 degrees 04 minutes 00 seconds West (South 29 degrees 12 minutes 08 seconds West Deed), 214.28 feet; thence South 35 degrees 27 minutes 41
seconds West (South 35 degrees 35 minutes 49 seconds West Deed), 200.36 feet; thence South 27 degrees 19 minutes 16 seconds West (South 27 degrees 27 minutes 24 seconds West Deed), 31.65 feet; thence North 62 degrees 40 minutes 44 seconds West and
no longer along said high bank, a distance of 351.28 feet; thence North 54 degrees 50 minutes 21 seconds West, 98.13 feet; thence North 83 degrees 56 minutes 57 seconds West, 128.58 feet; thence North 71 degrees 03 minutes 12 seconds West, 216.78
feet; thence North 89 degrees 26 minutes 08 seconds West, 410.40 feet to a point on the East right-of-way line of said North Kansas City Levee; thence North 0 degrees 33
minutes 52 seconds East along said East Right of Way line, a distance of 1578.87 feet to the Point of Beginning; including all lands lying between the high bank of said Missouri River and the low water line of said Missouri River, as measured at
right angles to the thread of the Missouri River from the Northeast corner of the above described tract Southwesterly to the Southeast corner of the above described tract, Subject to Accretions and/or Reliction. 

LEASED PARCEL II: 
 All that part of Fractional Section 18,
and or land accreted thereto, Township 50 North, Range 32 West, in North Kansas City, Clay County, Missouri, described as follows: 
 Commencing at the
Northwest corner of said Fractional Section 18; thence South 0 degrees 50 minutes 07 seconds West along the West line of said Fractional Section 18 and the Southerly prolongation thereof, 2,044.65 feet, more or less to the intersection of
said line with the South Right of Way line of the Wabash Railroad Company; thence the following courses along said Right of Way line; thence North 85 degrees 30 minutes 00 seconds East, 905.10 feet; thence in an Easterly direction along a curve to
the left having a radius of 5,765.65 feet and tangent to the last described course, an arc distance of 244.87 feet; thence North 83 degrees 04 minutes 00 seconds East, 301.60 feet; thence in an Easterly direction along a curve to the right having a
radius of 1,874.08 feet and tangent to the last described course, an arc distance of 283.48 feet; thence South 88 degrees 16 minutes 00 seconds East, 296.00 feet; thence in an Easterly direction along a curve to the left having a radius of 1,673.28
feet and tangent to the last described course, an arc distance of 225.36 feet; thence North 84 degrees 01 minutes 00 seconds East, 190.60 feet; thence in an Easterly direction along a curve to the right having a radius of 1,874.08 feet and tangent
to the last described course, an arc distance of 399.82 feet to the Northeast corner of a tract of land conveyed to Kansas City, Missouri by deed recorded in Book 579 at Page 87, as Document No. A-77137 and
the True Point of Beginning; thence in an Easterly direction continuing along the last described curve, an arc distance of 68.46 feet; thence South 81 degrees 40 minutes 00 seconds East, 305.90 feet; thence in an Easterly direction along a curve to
the left having a radius of 1,309.57 feet and tangent to the last described course, an arc distance of 601.88 feet; thence North 72 degrees 00 minutes 00 seconds East, 107.00 feet; thence departing 

 
from said Right of Way line, South 21 degrees 55 minutes 00 seconds East, 56.00 feet to a point in the Northerly high bank of the Missouri River; thence along said high bank the following
courses; South 63 degrees 27 minutes 03 seconds West, 345.38 feet; thence South 58 degrees 04 minutes 01 seconds West, 195.97 feet; thence South 57 minutes 40 minutes 09 seconds West, 202.69 feet; thence South 56 degrees 31 minutes 17 seconds West,
200.02 feet; thence South 52 degrees 25 minutes 26 seconds West, 86.06 feet to a point in the Easterly line of the tract of land conveyed to Kansas City, Missouri, in said Document Number A-77137; thence
departing from said high bank, North 20 degrees 31 minutes 14 seconds West along the Easterly line of said Kansas City, Missouri tract, 588.20 feet to the True Point of Beginning, including all lands lying between the high bank of said Missouri
River and the low water line of said Missouri River, as measured at right angles to the thread of the Missouri River from the Southwest corner of said Tract, Northeasterly to the Southeast corner thereof, Subject to accretion and/or reliction. 

LEASED PARCEL III: 
 Part of Section 13, Township 50 Range
33, and part of Fractional Section 18, Township 50, Range 32 in the City of North Kansas City, Clay County, Missouri, being more particularly described as follows: 

Commencing at the Northwest corner of said Fractional Section 18; thence South 0 degrees 48 minutes 41 seconds West along the West line of said Fractional
Section 18, a distance of 2045.58 feet to a point on the South Right of Way line of the Norfolk and Western Railway Company; thence North 85 degrees 21 minutes 52 seconds East along said South Right of Way line, a distance of 402.11 feet to a
point; thence South 0 degrees 33 minutes 52 seconds West, 364.36 feet to the Northwest corner of a tract of land conveyed to North Kansas City as described in Document No. D-46601 in Book 1257 at Page 930;
thence continuing South 0 degrees 33 minutes 52 seconds West along the West line of said North Kansas City tract a distance of 454.25 feet to a point on the East line of that certain existing Right of Way granted for ingress and egress to North
Kansas City by Document E-37416 in Book 1457 at Page 413 and the Point of Beginning of the centerline to be herein described; thence Westerly along a curve to the left, having an initial tangent bearing of
North 89 degrees 53 minutes 20 seconds West, a radius of 300 feet and a central angle of 4 degrees 19 minutes 20 seconds, an arc distance of 22.63 feet; thence South 85 degrees 47 minutes 20 seconds West, tangent to the last described curve, 120.26
feet to a point on the West line of said certain ingress and egress Right of Way and a point at which said strip of land now lies 60 feet on each side of the following described centerline; thence continuing South 85 degrees 47 minutes 20 seconds
West, 461.89 feet to a point at which said strip of land now lies 30 feet on each side of the following described centerline; thence Westerly and Southwesterly along a curve to the left, tangent to the last described course, having a radius of 150
feet and a central angle of 55 degrees 51 minutes 23 seconds, an arc distance of 146.23 feet; thence South 29 degrees 55 minutes 57 seconds West, tangent to the last described curve, a distance of 100.74 feet, more or less to a point on the
centerline for a 60 foot wide ingress and egress easement established by several Documents with the latest being recorded as Document No. D-18113 in Book 1195 at Page 921, thence Northwesterly along a curve to
the left, having an initial tangent bearing of North 60 degrees 23 minutes 38 seconds West, a radius of 115 feet and a central angle of 29 degrees 14 minutes 18 seconds, an arc distance of 58.68 feet; thence North 89 degrees 37 minutes 56 seconds
West, tangent to the last described curve, 

 
226.43 feet; thence Westerly along a curve to the left, tangent to the last described course, having a radius of 359.265 feet and a central angle of 10 degrees 51 minutes 39 seconds, an arc
distance of 68.1 feet, more or less to a point on the East Right of Way line of Bedford Avenue as established by QCD Document No. D-18113 in Book 1195 at Page 921 and the Point of Termination. 

THAT LIES WITHIN THE FOLLOWING DESCRIBED AREA: 
 Those parts of
the Southeast Quarter (SE 1/4) of Section 13, Township 50 North, Range 33 West, and of Fractional Section 18, Township 50 North, Range 32 West, of the Fifth Principal Meridian, North Kansas City, Clay County, Missouri, being more
particularly described as follows: Commencing at the Northwest corner of Fractional Section 24, Township and Range aforesaid; thence South 0 degrees 09 minutes 42 seconds West along the West line of said Fractional Section 24, 2,444.25
feet to a point on the Southeasterly line of the Right of Way of the Norfolk & Western Railroad Company, which is also the Northwesterly line of land owned by the Burlington Northern Railroad Company; thence North 46 degrees 50 minutes 10
seconds East along said Southeasterly line of the Right of Way of the Norfolk & Western Railway Company, 3,552.07 feet to an angle point; thence North 38 degrees 22 minutes 23 seconds East continuing along said Southeasterly line of the
Right of Way of the Norfolk & Western Railway Company, 2,873.49 feet to a True Point of Beginning; thence from said True Point of Beginning, continuing North 38 degrees 22 minutes 23 seconds East along the railroad Right of Way line
aforesaid, 786.71 feet to a point; thence to the right along the arc of a circular curve, which is concave Southeasterly, has a radius of 819.02 feet, a long chord of 626.83 feet in length that bears North 60 degrees 56 minutes 26 seconds East, and
a central angle of 44 degrees 59 minutes 54 seconds, 643.23 feet to a point on the Westerly line of the existing Right of Way for the Levee of the North Kansas City Levee District; thence South 3 degrees 12 minutes 40 seconds East along said Levee
Right of Way line 235.02 feet to an angle point; thence North 86 degrees 47 minutes 20 seconds East continuing along the Right of Way line for said Levee, 35.00 feet to an angle point; thence South 3 degrees 12 minutes 40 seconds East continuing
still along the Right of Way line for said Levee, 248.78 feet to an angle point; thence South 7 degrees 33 minutes 01 seconds East continuing still along the Right of Way line for said Levee, 202.08 feet to an angle point; thence South 0 degrees 42
minutes 00 seconds West continuing still along the Right of Way for said Levee 247.03 feet to a point; thence North 89 degrees 37 minutes 56 seconds West, 1,121.91 feet to the True Point of Beginning aforesaid. (For the purpose of the bearings in
the calls hereinabove given, the West line of said Fractional Section 24, is taken as bearing South 0 degrees 09 minutes 42 seconds West; and are on United States Engineers Datum.) 

LEASED PARCEL IV: 
 All that part of Fractional Section 18,
Township 50, Range 32 in the City of North Kansas City, Clay County, Missouri, being more particularly described as follows: 
 Commencing at the Northwest
corner of said Fractional Section 18; thence South 0 degrees 48 minutes 41 seconds West along the West line of said Fractional Section 18, a distance of 2045.58 feet to a point on the South Right of Way line for the Norfolk &
Western Railway Company; 

 
thence North 85 degrees 21 minutes 52 seconds East along said South Right of Way line, 402.11 feet to a point; thence South 0 degrees 33 minutes 52 seconds West, 364.36 feet to the Northwest
corner of a tract of land conveyed to North Kansas City as described in Document No. D-46601 in Book 1257 at Page 930, being also a point on the Southwesterly line of the Rock Creek Drainage Right of Way line,
as established by Circuit Court Case No. 19715, Cause No. 6422 in Book 83 at Page 566; dated April 30, 1951; thence South 78 degrees 04 minutes 35 seconds East along said Southwesterly Right of Way line and along the Northeasterly
line of said North Kansas City tract, a distance of 2063.66 feet; thence North 52 degrees 40 minutes 25 seconds East, 325 feet; thence Northeasterly along a curve to the left, tangent to the last described course, having a radius of 520.87 feet a
central angle of 28 degrees 01 minutes 39 seconds, an arc distance of 254.79 feet; thence North 24 degrees 38 minutes 46 seconds East, tangent to the last described curve, 657.31 feet to a point on the North Right of Way line of the Burlington
Northern Railroad Company, being also a point on the South line of a tract of land conveyed to Northtown Devco by Quit Claim Deed recorded in Book 1649 at Page 889 and the POINT OF BEGINNING of the tract of land to be herein described; thence North
81 degrees 48 minutes 08 seconds West along said South line and along said North Right of Way line, a distance of 166.83 feet; thence Easterly along a curve to the left, tangent to the last described course, having a radius of 1974.08 feet and a
central angle of 0 degrees 09 minutes 15 seconds, an arc distance of 5.22 feet; thence North 24 degrees 38 minutes 46 seconds East, 77.06 feet; thence North 83 degrees 28 minutes 14 seconds West, 162.29 feet; thence North 37 degrees 50 minutes 22
seconds East, 133.67 feet; thence North 39 degrees 02 minutes 48 seconds West, 59.17 feet; thence North 1 degrees 53 minutes 20 seconds West, 73.39 feet; thence Northeasterly along a curve to the right, having an initial tangent bearing of North 29
degrees 16 minutes 58 seconds East, a radius of 895.87 feet and a central angle of 41 degrees 34 minutes 36 seconds, an arc distance of 650.09 feet; thence South 72 degrees 47 minutes 34 seconds East, 197.30 feet; thence South 16 degrees 17 minutes
31 seconds East, 220.88 feet; thence North 73 degrees 12 minutes 46 seconds East, perpendicular to the last described course, 413.51 feet, more or less, to a point on the West Right of Way line of Missouri State Highway Route No. 269 (Chouteau
Trafficway), as now established; thence South 21 degrees 05 minutes 05 seconds East along said West Right of Way, 150.42 feet, more or less, to a point; thence South 73 degrees 12 minutes 46 seconds West, 453.93 feet, more or less, to a point;
thence South 16 degrees 47 minutes 14 seconds East, perpendicular to the last described course, 75 feet; thence South 73 degrees 12 minutes 46 seconds West, perpendicular to the last described course, 120 feet; thence Southwesterly along a curve to
the left, tangent to the last described course, having a radius of 370 feet and a central angle of 48 degrees 34 minutes 00 seconds, an arc distance of 313.63 feet; thence South 24 degrees 38 minutes 46 seconds West, tangent to the last described
curve, 43.27 feet, more or less, to a point on the North Right of Way line of said Burlington Northern Railroad; thence Northwesterly along a curve to the right and along said North Right of Way line, having a radius of 1209.57 feet and a central
angle of 1 degrees 52 minutes 23 seconds, an arc distance of 39.54 feet; thence North 81 degrees 48 minutes 08 seconds West, tangent to the last described curve and along said North Right of Way line, 117.06 feet to the POINT OF BEGINNING; LESS AND
EXCEPT THAT PART, IF ANY, OF THE ABOVE-DESCRIBED PARCEL OF LAND WITHIN MISSOURI STATE HIGHWAY ROUTE NO. 210. 

 LEASED PARCEL V: 
 A
tract of land in Fractional Section 18, Township 50, Range 32 in the City of North Kansas City, Clay County, Missouri, being more particularly described as follows: 

Commencing at the Northwest corner of said Fractional Section 18; thence South 0 degrees 48 minutes 41 seconds West along the West line of said Fractional
Section 18, a distance of 2045.58 feet; thence North 85 degrees 21 minutes 52 seconds East, 402.11 feet to a point; thence South 0 degrees 33 minutes 52 seconds West, 364.36 feet to the Northwest corner of a tract of land conveyed to North
Kansas City by an instrument filed as Document No. D-46601 in Book 1257 at Page 930, being also a point on the Southerly line of the Rock Creek Drainage Channel Right of Way line, as established by Circuit
Court Case No. 19715, Cause No. 6422 in Book 83 at Page 566, dated April 30, 1951; thence South 78 degrees 04 minutes 35 seconds East along said Southerly Right of Way line and along the Northerly line of said North Kansas City tract,
a distance of 2063.66 feet; thence North 52 degrees 40 minutes 25 seconds East, 315.37 feet to a point on the Northerly line of said Rock Creek Drainage Channel, being also a point on the Southerly line of a tract of land conveyed to Kansas City,
Missouri, by Document No. A-77137 in Book 579 at Page 87 and the POINT OF BEGINNING of the strip of land to be herein described; thence North 89 degrees 15 minutes 11 seconds West along the Northerly line of
said Channel 145.94 feet; thence North 52 degrees 40 minutes 25 seconds East, 124.52 feet; thence Northeasterly along a curve to the left, tangent to the last described course, having a radius of 430.87 feet and a central angle of 14 degrees 33
minutes 47 seconds, an arc distance of 109.52 feet; thence North 18 degrees 03 minutes 07 seconds East, 201.66 feet; thence North 65 degrees 21 minutes 14 seconds West, 25 feet; thence North 24 degrees 38 minutes 46 seconds East, perpendicular to
the last course, 319.73 feet to a point on the Northeasterly line of the tract of land conveyed to said Kansas City, Missouri; thence South 20 degrees 32 minutes 48 seconds East along said Northeasterly line, 422.84 feet to a point; thence South 24
degrees 38 minutes 46 seconds West, 21.74 feet; thence North 65 degrees 21 minutes 14 seconds West, perpendicular to the last described course, 15 feet; thence South 41 degrees 20 minutes 43 seconds West, 104.40 feet; thence Southwesterly along a
curve to the right, having an initial tangent bearing of South 24 degrees 38 minutes 46 seconds West, a radius of 625.87 feet and a central angle of 17 degrees 45 minutes 19 seconds, an arc distance of 193.95 feet to a point on the South line of
said Kansas City, Missouri tract; thence North 89 degrees 15 minutes 11 seconds West along said South line, 154 feet to the POINT OF BEGINNING. 
 LEASED
PARCEL VI: 
 A strip of land, being part of Fractional Section 18, Township 50, Range 32 in the City of North Kansas City, Clay County, Missouri, being
more particularly described as follows: 
 Commencing at the Northwest corner of said Fractional Section 18; thence South 0 degrees 48 minutes 41
seconds West along the West line of said Fractional Section 18, a distance of 2045.58 feet to a point on the South Right of Way line for the Norfolk & Western Railway Company; thence North 85 degrees 21 minutes 52 seconds East along
said South Right of Way line, 402.11 feet to a point; thence South 0 degrees 33 minutes 52 seconds West, 364.36 feet to the Northwest corner of a tract of land conveyed to North Kansas City as described in Document No.
D-46601 in Book 1257 at Page 930, being also a point on the Southwesterly line of the Rock Creek Drainage Channel Right of Way line, as established by Circuit Court Case No. 19715, Cause No.

 
6422 in Book 83 at Page 566, dated April 30, 1951; thence South 78 degrees 04 minutes 35 seconds East along said Southwesterly Right of Way line and along the Northeasterly line of said
North Kansas City tract, a distance of 2063.66 feet to the POINT OF BEGINNING of the strip of land to be herein described; thence North 78 degrees 04 minutes 35 seconds West along said Southwesterly line, 99 feet; thence North 52 degrees 40 minutes
25 seconds East, 293.88 feet to a point on the Northeasterly Right of Way line of said Rock Creek Drainage Channel Right of Way, being also a point on the South line of a parcel of land conveyed to Kansas City, Missouri, by Document No. A-77137 in Book 579 at Page 87; thence South 89 degrees 15 minutes 11 seconds East along said South line and said Northeasterly Right of Way line, 232.77 feet; thence Southwesterly along a curve to the right, having
an initial tangent bearing of South 44 degrees 13 minutes 47 seconds West, a radius of 595.87 feet and a central angle of 8 degrees 26 minutes 38 seconds, an arc distance of 87.82 feet; thence South 52 degrees 40 minutes 26 seconds West, tangent to
the last described curve, 260.38 feet to a point on the Southwesterly line of the Rock Creek Drainage Channel Right of Way; thence North 78 degrees 04 minutes 35 seconds West along said Southwesterly Right of Way line, 99 feet to the POINT OF
BEGINNING. 
 LEASED PARCEL VII: 
 A strip of land, being part
of the Burlington Northern Railroad Right of Way, situate in Fractional Section 18, Township 50, Range 32 in the City of North Kansas City, Clay County, Missouri, being more particularly described as follows: 

Commencing at the Northwest corner of said Fractional Section 18; thence South 0 degrees 48 minutes 41 seconds West along the West line of said Fractional
Section 18, a distance of 2045.58 feet to a point on the South Right of Way line for the Norfolk & Western Railway Company; thence North 85 degrees 21 minutes 52 seconds East along said South Right of Way line, 402.11 feet to a point;
thence South 0 degrees 33 minutes 52 seconds West, 364.36 feet to the Northwest corner of a tract of land conveyed to North Kansas City as described in Document No. D-46601 in Book 1257 at Page 930, being also
a point on the Southeasterly line of the Rock Creek Drainage Channel Right of Way line, as established by Circuit Court Case No. 19715, Cause No. 6422 in Book 83 at Page 566, dated April 30, 1951; thence South 78 degrees 04 minutes 35
seconds East along said Southeasterly Right of Way line and along the Northeasterly line of said North Kansas City tract, a distance of 2063.66 feet to a point; thence North 52 degrees 40 minutes 25 seconds East, 325 feet; thence Northeasterly along
a curve to the left, tangent to the last described course, having a radius of 520.87 feet and central angle of 28 degrees 01 minutes 39 seconds, an arc distance of 254.79 feet; thence North 24 degrees 38 minutes 46 seconds East, tangent to the last
described curve, 597.88 feet to a point on the South Right of Way line of said Burlington Northern Railroad and the POINT OF BEGINNING of said strip of land to be herein described; thence North 81 degrees 48 minutes 08 seconds West along said South
Right of Way line, 156.40 feet; thence North 24 degrees 38 minutes 46 seconds East, 59.43 feet to a point on the North Right of Way line of said Burlington Northern Railroad Company; thence South 81 degrees 48 minutes 08 seconds East along said
North Right of Way line, 273.46 feet; thence generally Easterly along a curve to the left and along said North Right of Way line, tangent to the last described course, having a radius of 1209.57 feet and a central angle of 1 degrees 52 minutes 23
seconds, an arc distance of 39.54 feet; thence South 24 degrees 38 minutes 46 seconds West, 59.90 feet to a 

 
point on said South Right of Way line; thence Westerly along a curve to the right and along said South Right of Way line, having an initial tangent bearing of North 82 degrees 49 minutes 25
seconds West, a radius of 1266.57 feet and a central angle of 1 degrees 01 minutes 16 seconds, an arc distance of 22.57 feet; thence North 81 degrees 48 minutes 08 seconds West, tangent to the last described curve, 133.89 feet to the POINT OF
BEGINNING. 
 LEASED PARCEL VIII: 
 A strip of land, being part
of the Norfolk & Western Railway Company Right of Way situate in Fractional Section 18, Township 50, Range 32 in the City of North Kansas City, Clay County, Missouri, being more particularly described as follows: 

Commencing at the Northwest corner of said Fractional Section 18; thence South 0 degrees 48 minutes 41 seconds West along the West along the West line of
said Fractional Section 18, a distance of 2045.58 feet to a point on the South Right of Way line for the Norfolk & Western Railway Company; thence North 85 degrees 21 minutes 52 seconds East along said South Right of Way line, 402.11
feet to a point; thence South 0 degrees 33 minutes 52 seconds West, 364.36 feet to the Northwest corner of a tract of land conveyed to North Kansas City as described in Document No. D-46601 in Book 1257 at
Page 930, being also a point on the Southwesterly line of the Rock Creek Drainage Channel Right of Way line, as established by Circuit Court Case No. 19715, Cause No. 6422 in Book 83 at Page 566, dated April 30, 1951; thence South 78
degrees 04 minutes 35 seconds East along said Southeasterly Right of Way line and along the Northeasterly line of said North Kansas City tract, a distance of 2063.66 feet to a point; thence North 52 degrees 40 minutes 25 seconds East, 325 feet;
thence Northeasterly along a curve to the left, tangent to the last described course, having a radius of 520.87 feet and central angle of 28 degrees 01 minutes 39 seconds, an arc distance of 254.79 feet; thence North 24 degrees 38 minutes 46 seconds
East, tangent to the last described curve, 553.04 feet to a point on the South Right of Way line of said Norfolk & Western Railway Company and the POINT OF BEGINNING of the strip of land to be herein described; thence North 81 degrees 48
minutes 08 seconds West along said South Right of Way 156.40 feet; thence North 24 degrees 38 minutes 46 seconds East, 44.83 feet to a point on the North Right of Way line of said Norfolk & Western Railway Company; thence South 81 degrees
48 minutes 08 seconds East along said North Right of Way line, 290.29 feet; thence Easterly along a curve to the left, tangent to the last described course and along said North Right of Way line, having a radius of 1266.57 feet and a central angle
of 1 degrees 01 minutes 17 seconds, an arc distance of 22.58 feet; thence South 24 degrees 38 minutes 46 seconds West, 45.01 feet to a point on said South Right of Way line; thence Westerly along a curve to the left, having an initial tangent
bearing of North 82 degrees 13 minutes 57 seconds West, a radius of 1309.57 feet and a central angle of 0 degrees 25 minutes 49 seconds, an arc distance of 9.83 feet; thence North 81 degrees 48 minutes 08 seconds West along said South Right of Way
line, tangent to the last described curve, 146.58 feet to the POINT OF BEGINNING. 
 LEASED PARCEL IX: 

All that part of Fractional Section 18, Township 50, Range 32 in North Kansas City, Clay County, Missouri, being more particularly described as follows:

 Commencing at the Northwest corner of said Fractional Section 18; thence South 0 degrees 48 minutes 41
seconds West along the West line of said Fractional Section 18, a distance of 2045.58 feet to a point on the South Right of Way line of the Norfolk & Western Railway Co.; thence North 85 degrees 21 minutes 52 seconds East along said
South Right of Way line, 402.11 feet; thence South 0 degrees 33 minutes 52 seconds West, 364.36 feet to the Northwest corner of a tract of land conveyed to North Kansas City by Document No. D-46601 in Book
1257 at Page 930; thence continuing South 0 degrees 33 minutes 52 seconds West along the West line of said North Kansas City tract, a distance of 302.82 feet to the Northeast corner of Tract 1 of a
Non-Exclusive Easement for Ingress & Egress granted by the document recorded as Document No. E-37416 in Book 1457 at Page 413 and the POINT OF BEGINNING of the
tract of land to be herein described; thence continuing South 0 degrees 33 minutes 52 seconds West along said West line and the East line of said Non-Exclusive Easement, a distance of 210.78 feet to the
Southeast corner of said Easement; thence South 86 degrees 25 minutes 36 seconds West along the South line of said Easement, 120.31 feet, more or less, to a point on the West line of a tract of land conveyed to Northtown Devco by deed recorded as
Document F-23163 in Book 1649 at Page 889; thence North 0 degrees 33 minutes 53 seconds East along said West line, 147.93 feet to a point on the Northwesterly line of said
Non-Exclusive Easement; thence North 59 degrees 45 minutes 51 seconds East along said Northeasterly line, 139.70 feet to a point on the West line of said tract of land conveyed to North Kansas City and the
POINT OF BEGINNING. 
 LEASED PARCEL X: 
 All that part of the
Fractional Section 18, Township 50, Range 32 in North Kansas City, Clay County, Missouri, being more particularly described as follows: 
 Commencing at
the Northwest corner of said Fractional Section 18; thence South 0 degrees 48 minutes 14 seconds West along the West line of said Fractional Section 18, a distance of 2045.58 feet to a point on the South Right of Way line of the Norfolk
and Western Railway Company; thence North 85 degrees 21 minutes 52 seconds East along said South Right of Way line, 402.11 feet; thence South 0 degrees 33 minutes 52 seconds West, 346.36 feet to the Northwest corner of a tract of land conveyed to
North Kansas City by Document No. D-46601 in Book 1257 at Page 930; thence continuing South 0 degrees 33 minutes 52 seconds West along the West line of said North Kansas City tract, a distance of 302.82 feet
to the Northeast corner of Tract 1 of a Non-Exclusive Easement for Ingress & Egress as recorded by Document No. E-37416 in Book 1547 at Page 413; thence continuing South 0 degrees 33 minutes 52
seconds West along said West line and the East line of said Non-Exclusive Easement, a distance of 210.78 feet to the Southeast corner of said Non-Exclusive Easement;
thence South 86 degrees 25 minutes 36 seconds West along the South line of said Easement, 120.31 feet to a point on East line of a tract of land conveyed to Burlington Northern Railroad Company by Special Warranty Deed recorded in Book 419 at Page 2
and filed on June 5, 1947 and the POINT OF BEGINNING of the tract of land to be herein described; thence continuing South 86 degrees 25 minutes 36 seconds West along the South line of said Non-Exclusive
Easement, a distance of 26.57 feet, more or less to a point on the East line of a tract of land conveyed to North Kansas City by Document No. B-62254 in Book 773 at Page 685; thence North 0 degrees 22 minutes
45 seconds East along said East line, being also the West line of said Non-Exclusive Easement, a distance of 133.78 feet, 

 
more or less to the Northwest corner of said Easement; thence North 59 degrees 45 minutes 47 seconds East along the Northwesterly line of said Easement 31.36 feet, more or less to a point on the
East line of said Burlington Northern Railroad Company tract; thence South 0 degrees 33 minutes 52 seconds West along said East line, 147.92 feet; more or less to the POINT OF BEGINNING. 

 EXHIBIT F 

LEGAL DESCRIPTION OF LAS VEGAS LAND ASSEMBLAGE 

PARCEL 17: (APN 162-16-410-033) 

Lots 79 and 80 in Block 4 of Flamingo Estates, as shown by map thereof on file in Book 5 of Plats, Page 22, in the Office of the County Recorder of Clark
County, Nevada. 
 PARCEL 18: (APN
162-16-410-036) 
 Lots 84 and 85 in
Block 4 of Flamingo Estates, as shown by map thereof on file in Book 5 of Plats, Page 22, in the Office of the County Recorder of Clark County, Nevada. 

Excepting therefrom that portion thereof conveyed to the County of Clark by that Grant Deed recorded November 19, 1958, in Book 178 as Document
No. 145336, of Official Records. 
 PARCEL 19: (APN
162-16-410-037) 
 Lots 86 and 87 in
Block 4 of Flamingo Estates, as shown by map thereof on file in Book 5 of Plats, Page 22, in the Office of the County Recorder of Clark County, Nevada. 

Excepting therefrom that portion thereof conveyed to the County of Clark by that Grant Deed recorded November 19, 1958, in Book 178 as Document
No. 145336, of Official Records. 
 PARCEL 20: (APN
162-16-410-038) 
 Lots 88 and 89 in
Block 4 of Flamingo Estates, as shown by map thereof on file in Book 5 of Plats, Page 22, in the Office of the County Recorder of Clark County, Nevada. 

Excepting therefrom that portion thereof conveyed to the County of Clark by that Grant Deed recorded November 19, 1958, in Book 178 as Document
No. 145336, of Official Records. 
 PARCEL 11: (APN
162-16-410-050) 
 That portion of
the North Half (N  1⁄2) of Section 21, Township 21 South, Range 61 East, M.D.M., more particularly described as follows: 

Lot Three (3) as shown on file in File 62 of Parcel Maps, Page 64 in the office of the County Recorder, Clark County, Nevada. 

AND (APN 162-21-110-001) 

Lots One (1) and Two (2) in Block One (1) of Flamingo Estates, as shown by map thereof on file in Book 5 of Plats, Page 22, in the office of
the County Recorder, Clark County, Nevada. 

 Excepting therefrom that portion as conveyed to Clark County by Deed recorded June 8, 1983, in Book 1747 as
Document No. 1706535, of Official Records. 
 Further Excepting therefrom that portion as conveyed to Clark County by Deed recorded February 24,
1994, in Book 940224 as Document No. 00525, of Official Records. 
 Further Excepting therefrom that portion as relinquished to Clark County by that
certain Resolution of Relinquishment of a portion of State Highway Right of Way recorded December 3, 2002, in Book 20021203 as Document No. 01508, of Official Records. 

PARCEL 12: (APN 162-16-410-059) 

PARCEL 12-1: 
 The South
160 feet measured along the West line of Lot 113 in Block 5 of FLAMINGO ESTATES SUBDIVISION, as shown by map thereof on file in Book 5 of Plats, Page 22, in the Office of the County Recorder of Clark County, Nevada. 

PARCEL 12-2: 
 The East
35 feet of the South 160 feet, measured along the East line of Lot 112 in Block 5 FLAMINGO ESTATES SUBDIVISION, as shown by map thereof on file in Book 5 of Plats, Page 22, in the Office of the County Recorder of Clark County, Nevada. 

EXCEPTING from Parcels 1 and 2, that portion of land lying Southerly of the left or Northerly
right-of-way line of SR-592 (Flamingo Road) and Easterly of the Westerly right-of-way line of Koval Lane; Said Northerly right-of-way line of SR-592 (Flamingo
Road) and said Westerly right-of-way line of Koval Lane being more fully described as follows, to wit; 

BEGINNING at the intersection of the left or Northerly right-of-way line of SR-592 (Flamingo Road) with the Westerly boundary line of the East 35 feet of the South 160 feet, measured along the East line of Lot 112 in Block 5 of FLAMING ESTATE SUBDIVISION, as shown by map thereof on file in
Book 5 of Plats, Page 22, in the Office of the County Recorder of Clark County, Nevada, 61.64 feet left of and at right angles to Highway Engineer’s Station “GCW” 75+76.36 P.O.T.; Said Point of Beginning further described as bearing
South 55°32’42” West, a distance of 235.20 feet from the North Quarter Corner of Section 21, Township 21 South, Range 61 East, M.D.M.; Thence from a tangent which bears North 89°59’03” East, curving to the right
along said Northerly right-of way line, with a radius of 4,306 feet, through an angle of 1°06’38”, an arc distance of 83.46 feet to a point of reverse curvature; Thence from a tangent which bears
South 88°54’19” East, curving to the left along said Northerly right-of-way line, with a radius of 54 feet, through an angle of 89°41’20”, an
arc distance of 84.53 feet to a point, the last 7.76 feet being along the Westerly line of Koval Lane; Thence North 1°24’21” East, along said Westerly right of way line of Koval Lane, a distance of 74.85 feet to a point; Thence from a
tangent which bears the last described course, curving to the right along said Westerly right-of-way line, with a radius of 106 feet, through an angle of
4°14’19”, an arc distance of 7.84 feet to an intersection with the North line of said Section 21, the Point of Ending 200.00 feet left of and at right angles to the centerline of SR-592
(Flamingo Road) at Highway Engineer’s Station “GCW” 77+13.39 

 
P.O.T.; Said Point of Ending further described as bearing North 88°25’16” West, a distance of 53.17 feet from the North Quarter Corner of said Section 21. 

(Deed Reference 20060602-0004546) 
 PARCEL 10: (APN 162-16-410-063) 
 Lots 25 and 26 in Block
Two (2) of FLAMINGO ESTATES, as shown by map thereof on file in Book 5 of Plats, Page 22, in the Office of the County Recorder of Clark County, Nevada. 

Together with those portions of Ida Avenue and the alley as vacated by that certain Order of Vacation, recorded February 14, 2012, in Book 20120214 as
Document No. 01112, and Re-recorded February 16, 2012, in Book 20120216 as Document No. 01146 and Re-recorded March 23, 2012, in Book 20120323 as
Document No. 01850, of Official Records. 
 PARCEL 9: (APN 162-16-410-067, 068, 069, 077, 078, 079, 082, 085 and 086) 
 Lots 33, 34, 35, 43, 44, 45, 46, 47, 48, 49,
50 and 55 in Block Three (3); and Lots 59, 60, 61 and 62 in Block Four (4) of FLAMINGO ESTATES, as shown by map thereof on file in Book 5 of Plats, Page 22 in the Office of the County Recorder of Clark County, Nevada. 

Together with those portions of Winnick Road, Ida Avenue and the alley as vacated by that certain Order of Vacation, recorded February 14, 2012, in Book
20120214 as Document No. 01112, and Re-recorded February 16, 2012, in Book 20120216 as Document No. 01146 and Re-recorded March 23, 2012, in Book
20120323 as Document No. 01850, of Official Records. 
 AND (APN 162-16-410-073) 
 Lot 39 in Block Three (3) of FLAMINGO ESTATES, as shown by map thereof on file in
Book 5 of Plats, Page 22 in the Office of the County Recorder of Clark County, Nevada. 
 TOGETHER WITH that portion of the pedestrian walkway lying
Westerly of and adjacent to the West line of said Lot 39, as vacated by said County by that Order of Vacation recorded June 21, 1962 in Book 368 as Document No. 297340, Official Records. 

Together with those portions of Ida Avenue and the alley as vacated by that certain Order of Vacation, recorded February 14, 2012, in Book 20120214 as
Document No. 01112, and Re-recorded February 16, 2012, in Book 20120216 as Document No. 01146 and Re-recorded March 23, 2012, in Book 20120323 as
Document No. 01850, of Official Records. 
 AND (APN
162-16-410-074) 
 Lot 40 in Block
Three (3) of FLAMINGO ESTATES, as shown by map thereof on file in Book 5 of Plats, Page 22 in the Office of the County Recorder of Clark County, Nevada. 

TOGETHER WITH that portion of the pedestrian walkway lying Easterly of and adjacent to the East line of said Lot 40, as vacated by said County by that Order
of Vacation recorded June 21, 1962 in Book 368 as Document No. 297340, Official Records. 

 Together with those portions of Ida Avenue and the alley as vacated by that certain Order of Vacation, recorded
February 14, 2012, in Book 20120214 as Document No. 01112, and Re-recorded February 16, 2012, in Book 20120216 as Document No. 01146 and Re-recorded
March 23, 2012, in Book 20120323 as Document No. 01850, of Official Records. 
 AND (APN 162-16-410-081) 
 Lots 52, 53 and 54 in Block Three (3) of FLAMINGO
ESTATES, as shown by map thereof on file in Book 5 of Plats, Page 22 in the Office of the County Recorder of Clark County, Nevada. 
 TOGETHER WITH that
certain vacated walkway 10 feet wide adjoining Lot 52 on the West boundary, as disclosed by an Order of Vacation recorded June 21, 1962 in Book 368 as Document No. 297340, Official Records. 

Together with those portions of Winnick Road and the alley vacated by that certain Order of Vacation, recorded February 14, 2012, in Book 20120214 as
Document No. 01112, and Re-recorded February 16, 2012, in Book 20120216 as Document No. 01146 and Re-recorded March 23, 2012, in Book 20120323 as
Document No. 01850, of Official Records. 
 AND (APN
162-16-410-035) 
 Lot 83 in Block
Four (4) of FLAMINGO ESTATES, as shown by map thereof on file in Book 5 of Plats, Page 22 in the Office of the County Recorder of Clark County, Nevada. 

TOGETHER WITH that certain vacated walkway 10 feet wide adjoining said Land on the West boundary, as vacated by that certain Order of Vacation recorded
June 21, 1962 in Book 368 as Document No. 297340, Official Records. 
 Together with that portion of Albert Avenue as vacated by that certain
Order of Vacation, recorded December 11, 2012 as Instrument No. 201212110001382, of Official Records. 
 AND (APN
162-16-410-034) 
 Lots 81 and 82 in
Block Four (4) of FLAMINGO ESTATES, as shown by map thereof on file in Book 5 of Plats, Page 22 in the Office of the County Recorder of Clark County, Nevada. 

TOGETHER WITH the Westerly portion of the 20 foot walkway 10 feet wide lying Easterly of Lot 82, as vacated by that certain Order of Vacation recorded
June 21, 1962 in Book 368 as Document No. 297340, Official Records. 
 Together with that portion of Albert Avenue as vacated by that certain
Order of Vacation, recorded December 11, 2012 as Instrument No. 201212110001382, of Official Records. 
 PARCEL 13: (APN 162-21-102-006) 

 That portion of the Northwest Quarter (NW 1/4) of Section 21, Township 21 South, Range 61 East,
M.D.B.&M., Clark County, Nevada, being more particularly described as follows: 
 COMMENCING at the Northeast corner of the Northwest Quarter (NW 1/4) of
said Section 21 as delineated on that certain recorded Parcel Map performed by Ralph L. Kraemer at the instance of Richard Tam, et al, dated December 3, 1973 as Document No. 343769 in File 1 of Parcel Maps, Page 35 of Official
Records, Clark County, Nevada; 
 THENCE South 0°20’17” East along the East line of the Northwest Quarter NW (1/4) of said Section 21 a
distance of 250.20 feet to a point; THENCE North 88°01’45” West a distance of 40.03 feet to a point being the intersection of the South right of way line of Flamingo Road (Proposed 100.00 feet wide) and the West right of way line of
Koval Lane (Present alignment 80.00 feet wide); 
 THENCE South 0°20’17: East along the West right of way line of said Koval Lane a distance of
710.58 feet to a point being the Northeast corner of Lot 2 as delineated on the aforementioned Ralph L. Kraemer Parcel Map; said point also being the TRUE POINT OF BEGINNING; THENCE continuing South 0°20’17” East a distance of 450.00
feet to a point; 
 THENCE North 88°01’45” West a distance of 453.25 feet to a point in the West line of said Lot 2; THENCE North
0°09’35” West along said West line a distance of 449.95 feet to a point being the Northwest corner of said Lot 2; THENCE South 88°01’45” East along the North line thereof a distance of 451.85 feet to the TRUE POINT OF
BEGINNING. 
 (Deed reference 20041221-03152). 
 PARCEL 14:
(APN 162-21-202-006) 
 THAT PORTION
OF THE SOUTHEAST QUARTER (SE  1⁄4) OF THE NORTHWEST QUARTER (NW  1⁄4)
OF SECTION 21, TOWNSHIP 21 SOUTH, RANGE 61 EAST, M.D.B. & M., DESCRIBED AS FOLLOWS: 
 LOT TWO (2) AS SHOWN BY MAP THEREOF IN FILE 1 OF PARCEL MAPS,
PAGE 35, RECORDED DECEMBER 3, 1973 IN BOOK 384 AS DOCUMENT NO. 343769 OF OFFICIAL RECORDS, CLARK COUNTY, NEVADA. 
 ALSO EXCEPTING THEREFROM THAT
CERTAIN SPANDREL AREA DEDICATED BY INSTRUMENT NO. 343769, RECORDED DECEMBER 3, 1973, AS FILE 1 OF PARCEL MAPS, PAGE 35, IN OFFICIAL RECORDS BOOK NO. 384 OF CLARK COUNTY, NEVADA RECORDS, SAID SPANDREL AREA BEING BOUNDED AS FOLLOWS: 

ON THE SOUTH BY THE NORTH LINE OF THE SOUTH 40 FEET OF THE NORTHWEST QUARTER (NW  1⁄4) OF SAID SECTION 21; 
 ON THE EAST BY THE WEST LINE OF THE EAST 40 FEET OF THE NORTHWEST QUARTER (NW  1⁄4) OF SAID SECTION 21; AND 
 ON THE NORTHWEST BY THE ARC OF A CURVE
HAVING A RADIUS OF 20.00 FEET, CONCAVE NORTHWESTERLY, BEING TANGENT TO THE NORTH LINE OF SAID SOUTH 40 FEET AND TO THE WEST LINE OF SAID EAST 40 FEET. 

 FURTHER EXCEPTING THEREFROM THAT PORTION OF THE NORTHWEST QUARTER (NW
 1⁄4) OF SECTION 21, TOWNSHIP 21 SOUTH, RANGE 61 EAST, M.D.B. & M., CLARK COUNTY, NEVADA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 

COMMENCING AT THE NORTHEAST (NE) CORNER OF THE NORTHWEST QUARTER (NW
 1⁄4) OF SAID SECTION 21 AS DELINEATED ON THAT CERTAIN RECORDED PARCEL MAP PERFORMED BY RALPH L. KRAEMER AT THE INSTANCE OF RICHARD TAM, ET AL, DATED
DECEMBER 3, 1973 AS DOCUMENT NO. 343769 IN FILE 1 OF PARCEL MAPS, PAGE 35, OFFICIAL RECORDS, CLARK COUNTY, NEVADA; 
 THENCE SOUTH
0°20’17” EAST ALONG THE EAST LINE OF THE NORTHWEST QUARTER (NW  1⁄4) OF SAID SECTION 21 A DISTANCE OF 250.20 FEET TO A POINT; 

THENCE NORTH 88°01’45” WEST A DISTANCE OF 40.03 FEET TO A POINT BEING THE INTERSECTION OF THE SOUTH RIGHT OF WAY LINE OF FLAMINGO ROAD (PURPOSED
100.00 FEET WIDE) AND THE WEST RIGHT OF WAY LINE OF KOVAL LANE (PRESENT ALIGNMENT 80.00 FEET WIDE); 
 THENCE SOUTH 0°20’17” EAST ALONG THE
WEST RIGHT OF WAY LINE OF SAID KOVAL LANE A DISTANCE OF 710.58 FEET TO A POINT BEING THE NORTHEAST CORNER (NE COR.) OF LOT TWO (2) AS DELINEATED ON THE AFOREMENTIONED RALPH L. KRAEMER PARCEL MAP; 

SAID POINT ALSO BEING THE TRUE POINT OF BEGINNING; 
 THENCE
CONTINUING SOUTH 0°20’17” EAST A DISTANCE OF 450.00 FEET TO A POINT; 
 THENCE NORTH 88°01’45” WEST A DISTANCE OF 453.25 FEET TO
A POINT IN THE WEST LINE OF SAID LOT TWO (2); 
 THENCE NORTH 0°09’35” WEST ALONG SAID WEST LINE A DISTANCE OF 449.95 FEET TO A POINT BEING
THE NORTHWEST CORNER (NW COR.) OF SAID LOT TWO (2); 
 THENCE SOUTH 88°01’45” EAST ALONG THE NORTH LINE THEREOF A DISTANCE OF 451.85 FEET TO
THE TRUE POINT OF BEGINNING. 
 AND FURTHER EXCEPTING THEREFROM: 

THAT PORTION OF THE EAST HALF (E  1⁄2) OF THE NORTHWEST QUARTER (NW  1⁄4) OF SECTION 21, TOWNSHIP 21 SOUTH, RANGE 61 EAST, M.D.M., IN THE COUNTY OF CLARK, STATE OF NEVADA, DESCRIBED AS FOLLOWS: 

COMMENCING AT THE SOUTHEAST CORNER OF THE NORTHWEST QUARTER (NW  1⁄4)
OF SAID SECTION 21, SAID SOUTHEAST CORNER BEING THE TRUE POINT OF BEGINNING; 

 THENCE NORTH 00°20’17” WEST ALONG THE EAST LINE OF THE NORTHWEST QUARTER (NW  1⁄4) OF SAID SECTION 21 A DISTANCE OF 708.19 FEET TO A POINT IN THE EASTERLY PROLONGATION OF THE NORTH LINE OF THE SOUTH 7.00 ACRES OF THAT CERTAIN PARCEL OF LAND
SHOWN AS PARCEL TWO (2) (AFTER DEDICATION OF THE SPANDREL AREA) ON THAT CERTAIN PARCEL MAP ON FILE IN FILE 1 OF PARCEL MAPS AT PAGE 35, IN THE OFFICIAL RECORDS BOOK NO. 384, CLARK COUNTY, NEVADA RECORDS; 

THENCE NORTH 89°50’36” WEST ALONG SAID EASTERLY PROLONGATION AND SAID NORTH LINE, BEING PARALLEL WITH THE SOUTH LINE OF THE NORTHWEST QUARTER
(NW  1⁄4) OF SAID SECTION 21, A DISTANCE OF 494.29 FEET TO A POINT IN THE WEST LINE OF SAID PARCEL TWO (2); 

THENCE SOUTH 00°09’35” EAST ALONG THE WEST LINE OF SAID PARCEL TWO (2) AND ITS SOUTHERLY PROLONGATION A DISTANCE OF 708.18 FEET TO THE
SOUTH LINE OF THE NORTHWEST QUARTER (NW  1⁄4) OF SAID SECTION 21; 

THENCE SOUTH 89°50’36” EAST ALONG SAID SOUTH LINE A DISTANCE OF 496.49 FEET TO THE TRUE POINT OF BEGINNING. 

AND FURTHER EXCEPTING THEREFROM THAT PORTION OF THE NORTHWEST QUARTER (NW
 1⁄4) OF SECTION 21, TOWNSHIP 21 SOUTH, RANGE 61 EAST, M.D.M., ACCORDING TO THE OFFICIAL PLAT OF SAID LAND, ON FILE IN THE OFFICE OF THE BUREAU OF LAND
MANAGEMENT, DESCRIBED AS FOLLOWS: 
 BEGINNING AT THE NORTHEAST (NE) CORNER OF PARCEL NO. TWO (2) OF THAT CERTAIN PARCEL MAP ON FILE IN FILE 1 OF PARCEL
MAPS, PAGE 35, OFFICIAL RECORDS, CLARK COUNTY RECORDER’S OFFICE; 
 THENCE SOUTH 0°20’17” EAST ON THE EAST LINE OF SAID PARCEL NO. TWO
(2) A DISTANCE OF 450 FEET TO THE TRUE POINT OF BEGINNING AND BEING THE SOUTHEAST (SE) CORNER OF THE LAND LEASED TO MINI-PRICE MOTOR INN JOINT VENTURE-LAS VEGAS II, A JOINT VENTURE, BY LEASE RECORDED
DECEMBER 15, 1977 AS DOCUMENT NO. 782567 OF OFFICIAL RECORDS; 
 THENCE CONTINUING SOUTH 0°20’17” EAST ON THE EAST LINE OF SAID PARCEL
NO. TWO (2) A DISTANCE OF 425 FEET; 
 THENCE NORTH 88°01’45” WEST A DISTANCE OF 160 FEET; 

THENCE NORTH 0°20’17” WEST A DISTANCE OF 425 FEET TO A POINT IN THE SOUTH LINE OF THE LAND LEASED TO MINI-PRICE MOTOR INN JOINT VENTURE-LAS VEGAS II, A JOINT VENTURE, REFERRED TO ABOVE; 
 THENCE SOUTH 88°01’45” EAST ON SAID SOUTH LINE
A DISTANCE OF 160 FEET TO THE TRUE POINT OF BEGINNING. 
 (Deed reference 20060802-05266). 

 PARCEL 15: (APN
162-21-202-003) 
 THAT PORTION OF
THE NORTHWEST QUARTER (NW  1⁄4) OF SECTION 21, TOWNSHIP 21 SOUTH, RANGE 61 EAST, M.D.M., ACCORDING TO THE OFFICIAL PLAT OF SAID LAND, ON FILE IN THE OFFICE OF
THE BUREAU OF LAND MANAGEMENT, DESCRIBED AS FOLLOWS: 
 BEGINNING AT THE NORTHEAST (NE) CORNER OF PARCEL NO. TWO (2) OF THAT CERTAIN PARCEL MAP ON FILE
IN FILE 1 OF PARCEL MAPS, PAGE 35, OFFICIAL RECORDS, CLARK COUNTY RECORDER’S OFFICE; 
 THENCE SOUTH 0°20’17” EAST ON THE EAST LINE OF
SAID PARCEL NO. TWO (2) A DISTANCE OF 450 FEET TO THE TRUE POINT OF BEGINNING AND BEING THE SOUTHEAST (SE) CORNER OF SAID LAND LEASED TO MINI-PRICE MOTOR INN JOINT VENTURE-LAS VEGAS II, A JOINT VENTURE,
BY LEASE RECORDED DECEMBER 15, 1977 AS DOCUMENT NO. 782567 OF OFFICIAL RECORDS; 
 THENCE CONTINUING SOUTH 0°20’17” EAST ON THE EAST LINE
OF SAID PARCEL NO. TWO (2) A DISTANCE OF 425 FEET; 
 THENCE NORTH 88°01’45” WEST A DISTANCE OF 160 FEET; 

THENCE NORTH 0°20’17” WEST A DISTANCE OF 425 FEET TO A POINT IN THE SOUTH LINE OF THE LAND LEASED TO MINI-PRICE MOTOR INN JOINT VENTURE-LAS VEGAS II, A JOINT VENTURE, REFERRED TO ABOVE; 
 THENCE SOUTH 88°01’45” EAST ON SAID SOUTH LINE
A DISTANCE OF 160 FEET TO THE TRUE POINT OF BEGINNING. 
 (Deed reference 20060802-05266). 

PARCEL 16: (APN 162-21-202-007) 

THAT PORTION OF THE EAST HALF (E  1⁄2) OF THE NORTHWEST QUARTER (NW  1⁄4) OF SECTION 21, TOWNSHIP 21 SOUTH, RANGE 61 EAST, M.D.M., IN THE COUNTY OF CLARK, STATE OF NEVADA, DESCRIBED AS FOLLOWS: 

COMMENCING AT THE SOUTHEAST CORNER OF THE NORTHWEST QUARTER (NW  1⁄4)
OF SAID SECTION 21, SAID SOUTHEAST CORNER BEING THE TRUE POINT OF BEGINNING; 
 THENCE NORTH 00°20’17” WEST ALONG THE EAST LINE OF THE
NORTHWEST QUARTER (NW  1⁄4) OF SAID SECTION 21 A DISTANCE OF 708.19 FEET TO A POINT IN THE EASTERLY PROLONGATION OF THE NORTH LINE OF THE SOUTH 7.00 ACRES OF
THAT CERTAIN PARCEL OF LAND SHOWN AS PARCEL TWO (2) (AFTER DEDICATION OF THE SPANDREL AREA) ON THAT CERTAIN PARCEL MAP ON FILE IN FILE 1 OF PARCEL MAPS AT PAGE 35, IN THE OFFICIAL RECORDS BOOK NO. 384, CLARK COUNTY, NEVADA RECORDS; 

 THENCE NORTH 89°50’36” WEST ALONG SAID EASTERLY PROLONGATION AND SAID NORTH LINE, BEING PARALLEL
WITH THE SOUTH LINE OF THE NORTHWEST QUARTER (NW  1⁄4) OF SAID SECTION 21, A DISTANCE OF 494.29 FEET TO A POINT IN THE WEST LINE OF SAID PARCEL TWO (2); 

THENCE SOUTH 00°09’35” EAST ALONG THE WEST LINE OF SAID PARCEL TWO (2) AND ITS SOUTHERLY PROLONGATION A DISTANCE OF 708.18 FEET TO THE
SOUTH LINE OF THE NORTHWEST QUARTER (NW  1⁄4) OF SAID SECTION 21; 

THENCE SOUTH 89°50’36” EAST ALONG SAID SOUTH LINE A DISTANCE OF 496.49 FEET TO THE TRUE POINT OF BEGINNING. 

EXCEPT THE EAST 40 FEET AND THE SOUTH 40 FEET THEREOF CONVEYED TO THE COUNTY OF CLARK FOR ROAD PURPOSES. 

ALSO EXCEPT THEREFROM THAT CERTAIN SPANDREL AREA DEDICATED BY INSTRUMENT NO. 343769 RECORDED DECEMBER 3, 1973 AS FILE 1 OF PARCEL MAPS, PAGE 35 IN
OFFICIAL RECORDS BOOK NO. 384 OF CLARK COUNTY, NEVADA RECORDS, SAID SPANDREL AREA BEING BOUNDED AS FOLLOWS: 
 ON THE SOUTH BY THE NORTH LINE OF THE SOUTH 40
FEET OF THE NORTHWEST QUARTER (NW  1⁄4) OF SAID SECTION 21; 
 ON
THE EAST BY THE WEST LINE OF THE EAST 40 FEET OF THE NORTHWEST QUARTER (NW  1⁄4) OF SAID SECTION 21; AND 

ON THE NORTHWEST BY THE ARC OF A CURVE HAVING A RADIUS OF 20.00 FEET, CONCAVE NORTHWESTERLY, BEING TANGENT TO THE NORTH LINE OF SAID SOUTH 40 FEET AND TO THE
WEST LINE OF SAID EAST 40 FEET. 
 (Deed reference 20060802-05266). 

PARCEL 8: (APN 162-16-410-042, 046,
047 and 090) 
 Lots 94, 95, 100, 101, 102 and 103 in Block Five (5) and Lots 75 and 76 in Block Four (4) of Flamingo Estates, as shown by map
there on file in Book 5 of Plats, Page 22, in the Office of the County Recorder, Clark County, Nevada 
 Together with those portions of Albert Avenue and
Audrie Street as vacated by that certain Order of Vacation, recorded December 11, 2012 as Instrument No. 201212110001382, of Official Records. 

Together with those portions Audrie Street and the alley as vacated by that certain Order of Vacation, recorded February 14, 2012, in Book 20120214 as
Document No. 01112, and Re-recorded February 16, 2012, in Book 20120216 as Document No. 01146 and Re-recorded March 23, 2012, in Book 20120323 as
Document No. 01850, of Official Records. 
 AND (APN
162-16-410-048) 

 Lot 105 in Block Five (5) of Flamingo Estates, as shown by map thereof on file in Book 5 of Plats, Page 22,
in the Office of the County Recorder, Clark County, Nevada. 
 Excepting therefrom the South 10 feet as conveyed to Clark County, Nevada by deed recorded
January 21, 1977 in Book 699 as Document No. 658664, of Official Records, Clark County, Nevada. 
 And further excepting therefrom that portion of
said parcel as conveyed to the State of Nevada by document recorded October 10, 1995 in Book 951010 as Document No. 00032, of Official Records, Clark County, Nevada. 

Together with the following described parcel: 
 Lot 104 in Block
Five (5) of Flamingo Estates as shown by map thereof on file in Book 5 of Plats, Page 22, in the Office of the County Recorder, Clark County, Nevada. 

Excepting therefrom that portion as conveyed to Clark County by Deed recorded December 31, 1973, in Book 391 as Document No. 350018, of Official
Records, further described as follows: 
 The South Ten feet (10.00’) of Lot One Hundred Four (104) in Block Five (5) of Flamingo Estates as
shown by map on file in Book 5, of Plats, Page 22 in the Office of the County Recorder of Clark County, Nevada; together with that certain spandrel or radius in the Southwest corner of said Lot One Hundred Four (104); Bounded on the Northeasterly
side by a curve concave to the Northeast having a radius of 22.00 feet that is tangent at its Easterly extremity to a line parallel with and distant North 10.00 feet from the South line of said Lot One Hundred Four (104) and tangent at its
Northerly extremity to the West line of said Lot One Hundred Four (104); bounded on the South side by the North line of the South 10.00 feet of said Lot One Hundred Four (104) and bounded on the West side by the West line of said Lot One
Hundred Four (104). Excepting that portion previously conveyed by Flamingo estates above mentioned. 
 Also excepting therefrom that portion of said parcels
as conveyed to the State of Nevada by documents October 10, 1995 in Book 951010 as Document No. 00032, of Official Records, Clark County, Nevada. 

Together with that portion of Audrie Street as vacated by that certain Order of Vacation, recorded December 11, 2012 as Instrument
No. 201212110001382, of Official Records. 
 Also together with the following described parcel: 

Lot One Hundred Six (106) in Block Five (5) of Flamingo Estates, as shown by map thereof on file in Book 5 of Plats, Page 22, in the Office of the
County Recorder, Clark County, Nevada. 
 Excepting therefrom the Easterly 14 feet. 

Further excepting therefrom the Westerly 20 feet of the Easterly 34 feet, not including the Southerly 135.50 feet. 

 Further excepting therefrom the South 10 feet of said Lot One Hundred Six (106), excepting the East 14 feet
thereof, as conveyed to Clark County, Nevada by deed recorded January 21, 1977 in Book 699 as Document No. 658664, of Official Records, Clark County, Nevada. 

Also excepting therefrom that portion of said parcel as conveyed to the State of Nevada by document recorded October 10, 1995 in Book 951010 as Document
No. 00032, of Official Records, Clark County, Nevada. 
 AND (APN 162-16-410-043) 
 Lot 96 in Block Five (5) of Flamingo Estates, as shown by map thereof on file in
Book 5 of Plats, Page 22, in the Office of the County Recorder, Clark County, Nevada. 
 Together with that portion of the vacated alley lying adjacent to
said lots as vacated by that certain Order of Vacation recorded June 21, 1962 in Book 368 as Document No. 297340, of Official Records, Clark County, Nevada, further described as follows: 

A portion of the Southeast Quarter (SE  1⁄4) of the Southwest Quarter
(SW  1⁄4) of Section 16, Township 21 South, Range 61 East, M.D.M., Clark County, Nevada, being more particularly described as follows: 

Commencing at the centerline intersection of Audrie Street and Albert Avenue; thence South 88°23’26” East along the centerline of said Albert
Street, 661.56 feet; thence South 01°36’34” West, departing said centerline, 30.00 feet to a point of the Southerly right-of-way line of Albert Avenue,
said point also being the Point of Beginning; thence continuing South 01°36’34” West, 145.00 feet; thence North 88°23’26” West, 170.00 feet; thence North 01°36’34” East, 145.00 feet; thence South
88°23’26” East, 170.00 feet to the Point of Beginning. 
 Together with that portion of Albert Avenue as vacated by that certain Order of
Vacation, recorded December 11, 2012 as Instrument No. 201212110001382, of Official Records. 
 AND (APN 162-16-410-044) 
 Lot 97 in Block Five (5) of Flamingo Estates, as
shown by map thereof on file in Book 5 of Plats, Page 22, in the Office of the County Recorder, Clark County, Nevada. 
 Together with that portion of the
vacated alley lying adjacent to said lots as vacated by that certain Order of Vacation recorded June 21, 1962 in Book 368 as Document No. 297340, of Official Records, Clark County, Nevada. 

Together with that portion of Albert Avenue as vacated by that certain Order of Vacation, recorded December 11, 2012 as Instrument
No. 201212110001382, of Official Records. 
 AND (APN
162-16-410-045) 

 Lots 98 and 99 in Block Five (5) of Flamingo Estates, as shown by map thereof on file in Book 5 of Plats,
Page 22 in the Office of the County Recorder of Clark County, Nevada, said land being further described as follows: 
 A portion of the Southeast Quarter (SE
 1⁄4) of the Southwest Quarter (SW  1⁄4) of Section 16, Township
21 South, Range 61 East, M.D.M., Clark County, Nevada, described as follows: 
 Commencing at the centerline intersection of Audrie Street and Albert Avenue;
Thence South 88°23’26” East along the centerline of said Albert Street, 491.56 feet; Thence South 01°36’34” West, departing said centerline, 30.00 feet to a point on the Southerly right-of-way line of Albert Avenue, said point also being the Point of Beginning; Thence continuing South 01°36’34” West, 145.00 feet; Thence North 88°23’26” West, 150.00 feet;
Thence North 01°36’34” East, 145.00 feet; Thence South 88°23’26” East, 150.00 feet to the Point of Beginning. 
 Together with
that portion of Albert Avenue as vacated by that certain Order of Vacation, recorded December 11, 2012 as Instrument No. 201212110001382, of Official Records. 

AND (APN 162-16-410-091) 

Lots 77 and 78 in Block Four (4) of Flamingo Estates, as shown by map thereof on file in Book 5 of Plats, Page 22, in the Office of the County Recorder
of Clark County, Nevada, further described as follows: 
 A portion of the Southeast Quarter (SE  1⁄4) of the Southwest Quarter (SW  1⁄4) of Section 16, Township 21 South, Range 61 East, M.D.M., Clark County, Nevada,
being more particularly described as follows: 
 Commencing at the centerline intersection of Audrie Street and Albert Avenue; thence South
88°23’26” East along the centerline of said Albert Street, 146.56 feet; thence North 01°36’34” East, departing said centerline, 30.00 feet to a point on the Northerly right-of-way line of Albert Avenue, said point also being the Point of Beginning. Thence South 88°23’26” East along said
right-of-way line 140.00 feet; thence North 01°36’34” East, departing said
right-of-way, 145.00 feet; thence North 88°23’26” West, 140.00 feet; thence South 01°36’34” West, 145.00 feet to the Point of Beginning. 

Together with that portion of Albert Avenue as vacated by that certain Order of Vacation, recorded December 11, 2012 as Instrument
No. 201212110001382, of Official Records. 
 Together with that portion of the alley as vacated by that certain Order of Vacation, recorded
February 14, 2012, in Book 20120214 as Document No. 01112, and Re-recorded February 16, 2012, in Book 20120216 as Document No. 01146 and Re-recorded
March 23, 2012, in Book 20120323 as Document No. 01850, of Official Records. 
 PARCEL 1: (TOWERS) (APN 162-16-410-060) 
 Lots 16 through 20 in Block Two (2) of Flamingo
Estates, as shown by map thereof on file in Book 5 of Plats, page 22, as recorded in the office of the County Recorder of Clark County, Nevada. 
 Together
with those portions of Winnick Avenue, Ida Avenue and the alley as vacated by that certain Order of Vacation, recorded February 14, 2012, in Book 20120214 as Document No. 01112, and Re-recorded
February 16, 2012, in Book 20120216 as Document No. 01146 and Re-recorded March 23, 2012, in Book 20120323 as Document No. 01850, of Official Records. 

 PARCEL 2: (TERRACES) (APN 162-16-410-061 and 062) 
 Lots 21 through 24 in Block Two (2) of Flamingo Estates, as shown by map
thereof on file in Book 5 of Plats, page 22, as recorded in the office of the County Recorder of Clark County, Nevada. 
 Together with those portions of
Ida Avenue and the alley as vacated by that certain Order of Vacation, recorded February 14, 2012, in Book 20120214 as Document No. 01112, and Re-recorded February 16, 2012, in Book 20120216 as
Document No. 01146 and Re-recorded March 23, 2012, in Book 20120323 as Document No. 01850, of Official Records. 

PARCEL 3: (TERRACES FOUR) (APN
162-16-410-064, 065 and 066) 
 Lots
27 through 32 in Block Two (2) of Flamingo Estates, as shown by map thereof on file in Book 5 of Plats, page 22, as recorded in the office of the County Recorder of Clark County, Nevada. 

Together with those portions of Ida Avenue and the alley as vacated by that certain Order of Vacation, recorded February 14, 2012, in Book 20120214 as
Document No. 01112, and Re-recorded February 16, 2012, in Book 20120216 as Document No. 01146 and Re-recorded March 23, 2012, in Book 20120323 as
Document No. 01850, of Official Records. 
 PARCEL 4: (WINNICK) (APN 162-16-410-080) 
 Lot 51 in Block Three (3) of Flamingo Estates, as shown by map thereof on file in
Book 5 of Plats, page 22, as recorded in the office of the County Recorder of Clark County, Nevada. 
 Together with the West 10 Feet of that certain
pedestrian walkway abutting the Easterly line of said Lot by that certain Order of Vacation recorded June 21, 1962, as Document No. 297340, of Official Records. 

Together with those portions of Winnick Avenue and the alley as vacated by that certain Order of Vacation, recorded February 14, 2012, in Book 20120214
as Document No. 01112, and Re-recorded February 16, 2012, in Book 20120216 as Document No. 01146 and Re-recorded March 23, 2012, in Book 20120323 as
Document No. 01850, of Official Records. 
 PARCEL 5: (FOUNTAINS) (APN 162-16-410-070, 071, 072, 075, 076, 083 and 084) 
 Lots 36 through 38, 41, 42 and 56 through 58 in Block
Three (3) of Flamingo Estates, as shown by map thereof on file in Book 5 of Plats, page 22, as recorded in the office of the County Recorder of Clark County, Nevada. 

Together with those portions of Winnick Avenue, Ida Avenue and the alley as vacated by that certain Order of Vacation, recorded February 14, 2012, in
Book 20120214 as Document No. 01112, and Re-recorded February 16, 2012, in Book 20120216 as Document No. 01146 and Re-recorded March 23, 2012, in Book
20120323 as Document No. 01850, of Official Records. 

 PARCEL 6: (PLAZA) (APN 162-16-410-087) 
 Lots 63 and 64 in Block Four (4) of Flamingo Estates, as shown by map thereof on
file in Book 5 of Plats, page 22, as recorded in the office of the County Recorder of Clark County, Nevada. 
 Together with that portion of Winnick Avenue
as vacated by that certain Order of Vacation, recorded February 14, 2012, in Book 20120214 as Document No. 01112, and Re-recorded February 16, 2012, in Book 20120216 as Document No. 01146
and Re-recorded March 23, 2012, in Book 20120323 as Document No. 01850, of Official Records. 
 PARCEL 7:
(SUITES) (APN 162-16-410-088 and 089) 

That portion of the Southwest Quarter (SW  1⁄4) of Section 16,
Township 21 South, Range 61 East M.D.M., being a portion of Block Four (4) of Flamingo Estates, as shown by map thereof on file in Book 5 of Plats, page 22, as recorded in the office of the County Recorder of Clark County, Nevada described as
follows: 
 Lots 1 and 2 of that certain Parcel Map on file in File 70 of Parcel Maps, Page 30, recorded September 19, 1991 as Document No. 00581
in Book 910919, of Official Records. in the Office of the County Recorder of Clark County, Nevada. 
 Together with those portions of Ida Avenue, Audrie
Street and the alley as vacated by that certain Order of Vacation, recorded February 14, 2012, in Book 20120214 as Document No. 01112, and Re-recorded February 16, 2012, in Book 20120216 as
Document No. 01146 and Re-recorded March 23, 2012, in Book 20120323 as Document No. 01850, of Official Records. 

 EXHIBIT G 

FORM OF REIT COMPLIANCE CERTIFICATE 

REIT COMPLIANCE CERTIFICATE 

Date:                     ,
20     
 This REIT Compliance Certificate (this “Certificate”) is given by Tenant (as defined in that
certain Lease (Non-CPLV) (the “Lease”) dated as of [                    , 2017], by and
among the entities listed on Schedule A attached thereto (collectively, and together with their respective successors and assigns, “Landlord”), and Caesars Entertainment Operating Company, Inc., a Delaware corporation, and the
entities listed on Schedule B attached thereto (collectively, and together with their respective successors and assigns, “Tenant”), pursuant to Article XL of the Lease. Capitalized terms used herein without definition shall have the
meanings set forth in the Lease. 
 By executing this Certificate, Tenant hereby certifies to Landlord that Tenant has reviewed its
transactions during the Fiscal Quarter ending [             ] and for such Fiscal Quarter Tenant is in compliance with the provisions of Article XL of the Lease. Without limiting the
generality of the foregoing, Tenant hereby certifies that for such Fiscal Quarter, Tenant has not, without Landlord’s advance written consent: 
  

	 	(i)	sublet, assigned or entered into a management arrangement for the Leased Property on any basis such that the rental or other amounts to be paid by the subtenant, assignee or manager thereunder would be based, in whole
or in part, on either (x) the income or profits derived by the business activities of the subtenant, assignee or manager or (y) any other formula such that any portion of any amount received by Landlord could reasonably be expected to
cause any portion of the amounts to fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto; 

 

	 	(ii)	furnished or rendered any services to the subtenant, assignee or manager or managed or operated the Leased Property so subleased, assigned or managed; 

 

	 	(iii)	sublet or assigned to, or entered into a management arrangement for the Leased Property with any Person (other than a “taxable REIT subsidiary” (within the meaning of Section 856(l) of the Code, or any similar
or successor provision thereto) of Landlord REIT) in which Tenant, Landlord or PropCo owns an interest, directly or indirectly (by applying constructive ownership rules set forth in Section 856(d)(5) of the Code, or any similar or successor
provision thereto); or 

  

	 	(iv)	sublet, assigned or entered into a management arrangement for the Leased Property in any other manner which could reasonably be expected to cause any portion of the amounts received by Landlord pursuant to the Lease or
any Sublease to fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto, or which could reasonably be expected to cause any other income of Landlord to
fail to qualify as income described in Section 856(c)(2) of the Code, or any similar or successor provision thereto. 

[Remainder of Page Intentionally Left Blank; Signature Page Follows] 

 IN WITNESS WHEREOF, this Certificate has been executed by Tenant on      day
of                     , 20    . 
  

			
	[             ]
		
	Name:	 	  

 
			
	Title:	 	  

 EXHIBIT H 

PROPERTY-SPECIFIC IP 
 [SEE
ATTACHED] 

 EXHIBIT I 

FORM OF PACE REPORT 
 [SEE
ATTACHED] 

 EXHIBIT J 

DESCRIPTION OF TITLE POLICIES 
  

							
	 Site & State
	  	      Chicago Title Insurance Company      
Policy Number	 	Policy Amount	 
	 Horseshoe Council Bluffs, IA
	  	236557	 	$	600,000,000	 
	 Harrah’s Council Bluffs, IA
	  	236558	 	$	180,000,000	 
	 Harrah’s Metropolis, IL
	  	1401-8976520	 	$	160,000,000	 
	 Horseshoe Southern Indiana, IN
	  	484962A	 	$	535,000,000	 
	 Horseshoe Hammond, IN
	  	484963A	 	$	820,000,000	 
	 Horseshoe Bossier City, LA
	  	7230618-212263586	 	$	210,000,000	 
	 Harrah’s Bossier City (Louisiana Downs), LA
	  	7230618-212264031	 	$	15,000,000	 
	 Vacant Land in Maryland Heights, MO
	  	L20153989	 	$	5,800,000	 
	 Harrah’s North Kansas City, MO
	  	L20153988	 	$	420,000,000	 
	 Grand Biloxi, MS
	  	MS 01-306-17-6406	 	$	100,000,000	 
	 Horseshoe Tunica, MS
	  	MS 01-306-14-5534A	 	$	379,950,000	 
	 Tunica Roadhouse, MS
	  	MS 01-306-15-5842C	 	$	30,000,000	 
	 Land Leftover from Harrah’s Gulfport, MS
	  	MS 01-306-17-6405	 	$	940,000	 
	 Horseshoe Tunica, AR
	  	74306-212267738	 	$	50,000	 
	 Caesar’s Atlantic City, NJ
	  	2015-80317	 	$	280,000,000	 
	 Bally’s Atlantic City and Schiff Parcel. NJ
	  	2014-80746	 	$	75,000,000	 
	 Harrah’s Lake Tahoe, NV
	  	7230628-1-17-01404635	 	$	230,000,000	 
	 Harvey’s Lake Tahoe, NV
	  	7230628-1-17-01502209	 	$	149,910,000	 
	 Harvey’s Lake Tahoe, CA
	  	FSJP-CTO1500740	 	$	90,000	 
	 Harrah’s Reno , NV
	  	7230628-1-17-01504907	 	$	20,000,000	 
	 Las Vegas Land Assemblage, NV
	  	7230628-1-17-15013291	 	$	130,560,000	 
	 Harrah’s Airplane, NV
	  	7230628-1-17-15013112 (LS)	 	$	3,240,000	 
	 Bluegrass Downs Racing, KY
	  	3035/4658A	 	$	760,000	 
	 Vacant Land at Turfway Park, KY
	  	C1503144LKY	 	$	4,470,000	 
	 Land in Splendora, TX
	  	TX- 3710001776-O	 	$	16,000	 

 EXHIBIT K 

ADDITIONAL FEE MORTGAGEE REQUIREMENTS FOR EXISTING FEE MORTGAGE 

In this Schedule, all references to the Landlord Debt Documents (as defined below) or any provision thereof shall mean such documents or
provisions as in effect on the date hereof, regardless of any amendment or modification to such documents or provisions, or any defined terms used in the applicable provisions. 

REPRESENTATIONS 
 Tenant represents and warrants
to Landlord that as of the Commencement Date: 
  

	1.	None of the Leased Properties is in violation of (nor will the continued operation of the Leased Properties as currently conducted violate) any law (including the USA PATRIOT Act), rule or regulation (including any
zoning, building, ordinance, code or approval or any building permit, but excluding any Environmental Laws, which are subject to paragraph 2 below) or any restriction of record or agreement affecting any Leased Property, or is in default with
respect to any judgment, writ, injunction or decree of any Governmental Authority, where such violation or default would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect (as defined below).

  

	2.	Except as provided on Schedule 3.16 to the Landlord Credit Agreement or to matters that would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect: (i)there are no
judicial, administrative or other actions, suits or proceedings pending which allege a violation of any Environmental Laws at the Leased Properties; and (ii) each of the Tenant and its Subsidiaries has all environmental permits, licenses and
other approvals necessary for its operations at the Leased Properties to comply with all Environmental Laws and is in compliance with the terms of such permits, licenses and other approvals and with all other Environmental Laws. 

 

	3.	Each Documented Vessel is insured in accordance with the provisions of the Ship Mortgage on such Documented Vessel (or to be recorded on such Documented Vessel in accordance herewith) and the requirements thereof in
respect of such insurance will have been complied with. 

  

	4.	Each Documented Vessel has been issued a certificate of documentation with such endorsements as shall qualify the Documented Vessel for participation in the trades and services to which it may be dedicated from time to
time. 

  

	5.	The Tenant and each of its Subsidiaries are in compliance with all Gaming Laws that are applicable to them and their businesses and the failure to comply with which would result in Landlord or its Subsidiaries failing
to comply with Gaming Laws applicable to them or their businesses, except where a failure to so comply would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect under and as defined in the Landlord Credit
Agreement. 

	6.	There are no actions, suits or proceedings at law or in equity or by or on behalf of any Governmental Authority or in arbitration now pending against the Leased Properties which would reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect. 

  

	7.	All written information (other than the Projections, estimates, budgets, forward-looking information and information of a general economic nature or general industry nature) (the “Information”)
concerning the Tenant, its Subsidiaries, or their businesses conducted at the Leased Properties that was (i) prepared by or on behalf of the foregoing or their representatives, (ii) made available to the Landlord and
(iii) incorporated into, or used to form the basis of, information regarding Landlord’s or its Subsidiaries’ businesses that was delivered to the Collateral Agent, when taken as a whole, was true and correct in all material respects,
as of the date such Information was furnished to the Landlord and did not, taken as a whole, contain any untrue statement of a material fact as of any such date or omit to state a material fact necessary in order to make the statements contained
therein, taken as a whole, not materially misleading in light of the circumstances under which such statements were made (in each case giving effect to all supplements and updates provided thereto). 

 

	8.	The Projections prepared by or on behalf of the Tenant or any of its Representatives and that have been made available to the Landlord have been prepared in good faith based upon assumptions believed by the Tenant to be
reasonable as of the date thereof (it being understood such Projections are as to future events and are not to be viewed as facts, such Projections are subject to significant uncertainties and contingencies and that actual results during the period
or periods covered by any such Projections may differ significantly from the projected results, that no assurances can be given that the projected results will be realized and that such Projections are not a guaranty of performance), as of the date
such Projections were furnished to the Landlord. 

 COVENANTS 

 

	1.	Except where the failure to do so would not reasonably be expected to have a Material Adverse Effect, Tenant shall do or cause to be done all things necessary to at all times maintain and preserve all tangible property
necessary to the normal conduct of its business at the Leased Properties and keep the Leased Properties in good repair, working order and condition (ordinary wear and tear, casualty and condemnation or as otherwise permitted excepted), from time to
time make, or cause to be made, all needful and proper repairs, renewals, additions, improvements and replacements thereto necessary in order that the business carried on in connection therewith, if any, may be properly conducted at all times (in
each case except as permitted by this Lease). 

  

	2.	 Tenant and its Subsidiaries shall maintain, with financially sound and reputable insurance companies (as
determined in good faith by Tenant), insurance (subject to customary deductibles and retentions) in such amounts and against such risks as are customarily and reasonably maintained by similarly situated companies engaged in the same or similar
businesses operating in the same or similar locations (as determined in good faith by Tenant). Notwithstanding the foregoing, the Tenant and its Subsidiaries may self-insure 

	 	
with respect to such risks with respect to which companies of established reputation engaged in the same general line of business in the same general area usually self-insure (as determined in
good faith by the Tenant). 

  

	3.	With respect to the Leased Properties, if at any time the area in which the Leased Properties are located is designated a “flood hazard area” in any Flood Insurance Rate Map published by the Federal Emergency
Management Agency (or any successor agency) such Leased Property shall be insured to the extent required to comply with the National Flood Insurance Program as set forth in the Flood Disaster Protection Act of 1973, as it may be amended from time to
time. 

  

	4.	Each Documented Vessel shall be insured in accordance with the provisions of the Ship Mortgage on such Documented Vessel (or to be recorded on such Documented Vessel in accordance herewith). 

 

	5.	Within 30 days of the Commencement Date (or such later date agreed by Landlord), Tenant shall provide Landlord endorsements satisfying the requirements of clause (a) of Section 5.02 of the
Landlord Credit Agreement. 

  

	6.	Tenant shall comply with all laws, rules, regulations and orders of any Governmental Authority applicable to the Leased Properties, including all Gaming Regulations and the Economic Sanction Laws, except that the Tenant
and its Subsidiaries need not comply with any laws, rules, regulations and orders of any Governmental Authority then being contested by any of them in good faith by appropriate proceedings, and except where the failure to do so, individually or in
the aggregate, would not reasonably be expected to result in a Material Adverse Effect; provided that this paragraph 6 shall not apply to Environmental Laws, which are the subject of paragraph 7 below, or to laws related to Taxes.

  

	7.	Tenant shall permit any Persons designated by the Landlord to visit and inspect the Leased Properties at reasonable times, upon reasonable prior notice to the Tenant, and as often as reasonably requested.

  

	8.	Tenant shall comply with all Environmental Laws applicable to the Leased Properties; and obtain and renew all material authorizations and permits required pursuant to Environmental Law for the Leased Properties, in each
case in accordance with Environmental Laws; except, in each case with respect to this paragraph 7, to the extent the failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

  

	9.	After the occurrence of a default by Tenant under the Lease that gives rise to an Event of Default under the Landlord Credit Agreement and during the continuance of such Event of Default, and upon five (5) Business
Days prior written notice from Landlord, the Tenant shall grant Landlord access to the Leased Properties and its records and business so that Landlord may verify under reasonable procedures the validity, amount, quality, quantity, value, condition
and status of, or any other matter relating to, the Leased Properties. The Landlord shall have the right to share any information it gains from such inspection or verification with any of its creditors. 

	10.	Tenant covenants that it shall not cause or permit any Vessel to be operated in any manner contrary to law and shall not engage in any unlawful trade or violate any law that will expose any Vessel to penalty, forfeiture
or capture in a manner reasonably expected to cause a Material Adverse Effect. 

  

	11.	Tenant shall pay and discharge when due and payable, from time to time, all taxes, assessments, governmental charges, fines and penalties lawfully imposed on any Vessel if the
non-payment of same could reasonably be expected to result in the imposition of an encumbrances which is not a Permitted Encumbrance or could otherwise reasonably be expected to cause a Material Adverse
Effect. 

  

	12.	Tenant shall place or cause to be placed, and at all times and places shall retain or cause to be retained, a properly certified copy of each Ship Mortgage on board each applicable Vessel with her papers and shall cause
such certified copy and such papers to be exhibited to any and all Persons having business therewith that might give rise to any Lien thereon other than Liens for crew’s wages and salvage, or other Permitted Encumbrances, and to any
representative of Landlord; and shall place or cause to be placed and keep prominently displayed or cause to be prominently displayed in the chart room, in the Master’s cabin, or principal operations office of each Vessel a framed printed
notice in plain type reading as follows: 

 NOTICE OF MORTGAGE 

This Vessel is documented in the name of [    ] and is covered by a FIRST PREFERRED SHIP MORTGAGE to WILMINGTON TRUST,
NATIONAL ASSOCIATION, AS COLLATERAL AGENT, under authority of the United States Ship Mortgage Act of 1920, as amended, recodified at 46 U.S.C. § 31301 et seq., as amended. Under the terms of said Mortgage, neither the Shipowner, nor any
other person has any right, power or authority to create, incur or permit to be imposed upon this Vessel any lien whatsoever other than for crew’s wages and salvage and other Permitted Liens.” 

 

	13.	The Tenant shall at all times and without cost or expense to Landlord maintain and preserve, or cause to be maintained and preserved, each Vessel in good running order and repair, so that each Vessel shall be, in so far
as due diligence can make her so, tight, staunch, strong and well and sufficiently tackled, apparelled, furnished, equipped and in every respect seaworthy and in good operating condition for its intended use, except in any such case, to the extent
that the failure to do so could not reasonably be expected to have a Material Adverse Effect. The Tenant covenants that it shall, at all times comply with all applicable laws, treaties and conventions of the United States, and the rules and
regulations issued thereunder, and shall have on board as and when required thereby valid certificates showing compliance therewith to the extent non-compliance is reasonably expected to cause a Material
Adverse Effect. The Tenant shall not make, or permit to be made, any substantial change in the structure, type or speed of any Vessel to the extent such changes would result in a need to redocument such Vessel with the National Vessel Documentation
Center, without the prior written consent of Landlord, which consent shall not unreasonably be refused or denied so long as the applicable Ship Mortgage is preserved as a first preferred mortgage. 

	14.	With reasonable prior notice, Tenant shall at all times afford the Landlord or its authorized representatives, at the risk and expense of the Tenant, full and complete access to the Vessel at any and from time to time
during normal business hours for the purpose of inspecting the same. 

  

	15.	Tenant shall not transfer or change the flag of any Vessel without the written consent of the Landlord first had and obtained, and any such written consent to any one transfer or change of flag shall not be construed to
be a waiver of this provision with respect to any subsequent proposed transfer or change of flag. 

  

	16.	Tenant shall, at its expense, when and so long as any Ship Mortgage shall be outstanding, insure the applicable Vessel and keep such Vessel insured, in lawful money of the United States, for an amount not less than the
full commercial value of such Vessel. Such Vessel shall in no event be insured for an amount less than the agreed valuation as set forth in the applicable marine policies. Such insurance shall cover marine perils, on hull and machinery, and shall be
maintained in the broadest forms available in the American or British insurance markets or such other markets as may be satisfactory to Landlord. Such Vessel shall not operate in or carry any cargoes or proceed into any area then excluded by trading
warranties under its marine policies (including protection and indemnity) without obtaining any necessary additional coverage, satisfactory in form and substance, and evidence of which shall be furnished, to Landlord. 

 

	17.	 The policy or policies of insurance shall be issued by responsible underwriters of recognized standing, shall
contain customary conditions, terms, stipulations and shall be kept in full force and effect by Tenant so long as the applicable Ship Mortgage shall be outstanding. All such policies, binders, cover notes and other interim insurance contracts shall
be executed and issued in the name of Tenant and shall, to the extent that the Landlord Credit Agreement shall require, provide that loss be payable to the Collateral Agent for distribution in accordance with the terms of the Lease and shall provide
for at least thirty days’ prior notice to be given the Collateral Agent by the broker and/or underwriters in the event of cancellation. The Collateral Agent (and such other Persons as the Collateral Agent may designate from time to time) shall
be named as additional insured or lenders loss payee, as applicable, on all such policies, cover notes and insurance contracts but without liability of the Collateral Agent or any such other Person for premiums or calls. All such cover notes, and if
requested by the Collateral Agent at any time and from time to time all such policies, binders and other interim insurance contracts, shall be deposited with the Collateral Agent. Tenant shall furnish or cause to be furnished to the Collateral Agent
annually a detailed report signed by a firm or firms of marine insurance brokers satisfactory to the Collateral Agent as to the insurance maintained in respect of the applicable Vessel, as to their opinion that such insurances are at least
comparable to that which is customarily maintained for properties of a similar character employed under similar conditions of operation by prudent companies engaged in a similar business and as to compliance with the provisions of this paragraph
16. In addition, Tenant shall maintain or cause to be maintained protection and indemnity 

	 	
insurance and coverage that is carried and maintained for properties of a similar character employed under similar conditions of operation by prudent companies engaged in a similar business and
in the maximum available amount on commercially reasonable terms against pollution liability, through underwriters or associations of recognized standing on commercially reasonable terms with respect to coverage other than pollution liability that
is carried and maintained for properties of a similar character employed under similar conditions of operation by prudent companies engaged in a similar business. Such insurance policies shall provide for at least thirty days’ prior notice to
be given to the Collateral Agent by the underwriters or association or insurance broker in the event of cancellation and at least ten days prior notice to be given to the Collateral Agent by the underwriters or association or insurance broker in the
event of the failure of Tenant to pay any premium or call that would suspend coverage under the policy or the payment of a claim thereunder. Upon request, Tenant shall furnish a copy of each insurance policy with respect to any Vessel to the
Collateral Agent. 

 Any loss under any insurance on any Vessel with respect to protection and indemnity risks shall be paid to
the Person to whom any liability covered by such insurance has been incurred. Any loss under any insurance with respect to any Vessel involving any damage to such Vessel (other than a loss under any insurance on such Vessel with respect to
protection and indemnity risks), shall be paid directly to the repairer or, if Tenant repaired the damage to such Vessel and the cost thereof, then to Tenant in reimbursement thereof. 

 

	18.	Tenant shall comply with and satisfy all of the provisions of any applicable law, regulation, proclamation or order concerning financial responsibility for liabilities imposed on Tenant or the applicable Vessel with
respect to pollution including, without limitation, the U.S. Water Pollution Control Act, as amended by the Water Pollution Control Act Amendment of 1972 and as it may be further amended, the Oil Pollution Act of 1990 as amended from time to time,
and the Hazardous Materials Transportation Act as amended from time to time, and shall maintain all certificates or other evidence of financial responsibility as may be required by any such law, regulation, proclamation or order with respect to the
trade in which such Vessel from time to time is engaged and the cargoes carried by it, except in each case to the extent the failure to comply would not reasonably be expected to have a Material Adverse Effect. 

 

	19.	All hull and machinery Insurances relating to the Vessel shall contain a lenders loss payee and mortgagee interests and obligations endorsement in the form of Exhibit 1 hereto or in such other form as the Assignee may
reasonably agree. 

  

	20.	All entries in Protection and Indemnity Associations or Clubs or insurances effected in lieu of such entries relating to the Vessel shall contain a lenders loss payee and mortgagee interests and obligations endorsement
in the form of Exhibit 1 hereto or in such other form as the Assignee may agree, and the proceeds of such protection and indemnity entries or insurance coverages in lieu thereof shall be paid on behalf of the Assignor for any sums which the
Assignor, as owner of the Vessel, shall become liable to pay, in respect of any casualty or occurrence during the currency of such entries or insurances but only in respect of the matters covered thereby. 

	21.	All hull and machinery Insurances (as defined in the Insurance Assignment) relating to any Vessel shall contain a lenders loss payee and mortgagee interests and obligations endorsement in the form of Exhibit 1 hereto or
in such other form as the Collateral Agent may reasonably agree. 

  

	22.	All entries in Protection and Indemnity Associations or Clubs or insurances effected in lieu of such entries relating to any Vessel shall contain a lenders loss payee and mortgagee interests and obligations endorsement
in the form of Exhibit 1 hereto or in such other form as the Collateral Agent may agree, and the proceeds of such protection and indemnity entries or insurance coverages in lieu thereof shall be paid on behalf of Tenant for any sums which Tenant, as
tenant of the Vessel, shall become liable to pay, in respect of any casualty or occurrence during the currency of such entries or insurances but only in respect of the matters covered thereby. 

Exhibit 1 
 LENDERS LOSS
PAYEE AND MORTGAGEE INTERESTS AND OBLIGATIONS 
 All third parties having an interest in property insured by this Policy, as required by
lease, contract or agreement, shall automatically be Additional Insureds hereunder. 
 All other third parties including, but not limited to,
Loss Payees and Mortgagees who have an interest in the property insured by this Policy shall be automatically named as Loss Payees or Mortgagees, and loss, if any, under this Policy shall be adjusted with the Insured and payable to the Insured and
the Additional Insureds, Loss Payees or Mortgagees according to their respective insurable interests. 
  

	 	A.	The Insurer will pay for loss to specified property insured under this Policy to each Lender Loss Payee (hereinafter referred to as Lender) as its interest may appear, and to each specified Mortgagee as its interest may
appear, under all present or future mortgages upon such property, in order of precedence of the mortgages. 

  

	 	B.	The interest of the Lender or Mortgagee (as the case may be) in property insured under this Policy will not be invalidated by: 

  

	 	1)	any act or neglect of the debtor, mortgagor, or owner (as the case may be) of the property. 

  

	 	2)	foreclosure, notice of sale, or similar proceedings with respect to the property. 

  

	 	3)	change in the title or ownership of the property. 

  

	 	4)	change to a more hazardous occupancy. 

 The Lender or Mortgagee will notify the Insurer of any
known change in ownership, occupancy, or hazard and, within 10 days of written request by the Insurer, may pay the increased premium associated with such known change. If the Lender or Mortgagee fails to pay the increased premium, all insurance
under this Policy will cease. 

	 	C.	If this Policy is cancelled at the request of the Insured or its agent, the insurance for the interest of the Lender or Mortgagee will terminate 10 days after the Insurer sends to the Lender or Mortgagee written notice
of cancellation, unless: 

  

	 	1)	sooner terminated by authorization, consent, approval, acceptance, or ratification of the Insured’s action by the Lender or Mortgagee, or its agent. 

 

	 	2)	this Policy is replaced by the Insured, with a policy providing insurance for the interest of the Lender or Mortgagee, in which event insurance under this Policy with respect to such interest will terminate as of the
effective date of the replacement policy, notwithstanding any other provision of this Policy. 

  

	 	D.	The Insurer may cancel this Policy and/or the interest of the Lender or Mortgagee under this Policy, by giving the Lender or Mortgagee written notice 60 days prior to the effective date of cancellation, if cancellation
is for any reason other than non-payment. If the debtor, mortgagor, or owner has failed to pay any premium due under this Policy, the Insurer may cancel this Policy for such
non-payment, but will give the Lender or Mortgagee written notice 10 days prior to the effective date of cancellation. If the Lender or Mortgagee fails to pay the premium due by the specified cancellation
date, all insurance under this Policy will cease. 

  

	 	E.	If the Insurer pays the Lender or Mortgagee for any loss, and denies payment to the debtor, mortgagor or owner, the Insurer will, to the extent of the payment made to the Lender or Mortgagee be subrogated to the rights
of the Lender or Mortgagee under all securities held as collateral to the debt or mortgage. No subrogation will impair the right of the Lender or Mortgagee to sue or reinsure the full amount of its claim. At its option, the Insurer may pay to the
Lender or Mortgagee the whole principal due on the debt or mortgage plus any accrued interest. In this event, all rights and securities will be assigned and transferred from the Lender or Mortgagee to the Insurer, and the remaining debt or mortgage
will be paid to the Insurer. 

  

	 	F.	If the Insured fails to render proof of loss, the Lender or Mortgagee, upon notice of the Insured’s failure to do so, will render proof of loss within 60 days of notice and will be subject to the provisions of this
Policy relating to Appraisal, Settlement of Claims, and Suit Against the Insurer. 

  

	 	G.	Other provisions relating to the interests and obligations of the Lender or Mortgagee may be added to this Policy by agreement in writing. 

DEFINITIONS 
 All capitalized terms used in this
Schedule shall have the meanings set forth in the Lease and, if not defined therein, then the following meanings: 
 “Closing Date” shall
mean the “Closing Date” referred to in the Landlord Credit Agreement. 

 “Collateral Agent” has the meaning given to such term in the Landlord Credit Agreement. 

“Documented Vessel” shall mean any Vessel which has a current and valid certificate of documentation issued by the NVDC. 

“Economic Sanctions Laws” means (i) the Trading with the Enemy Act (50 U.S.C. App. §§ 5(b) and 16, as amended, modified, or
supplemented from time to time), the International Emergency Economic Powers Act, (50 U.S.C. §§ 1701-1706, as amended, modified, or supplemented from time to time), Executive Order 13224 (effective September 24, 2001), as amended,
modified, or supplemented from time to time and any successor thereto, and the regulations administered and enforced by OFAC and (ii) any and all other laws, judgments, orders, executive orders, decrees, ordinances, rules, regulations,
statutes, case law or treaties applicable to Tenant, its Subsidiaries or Affiliates relating to economic sanctions and terrorism financing. 

“Environmental Laws” shall mean all applicable laws (including common law), rules, regulations, codes, ordinances, orders, decrees or
judgments, promulgated or entered into by any Governmental Authority, relating to the protection of the environment, reclamation of natural resources, the generation, management, Release or threatened Release of, or exposure to, any Hazardous
Material or to the protection of human health and safety (to the extent relating to the protection of the environment or exposure to or management of Hazardous Materials). 

“Governmental Authority” shall mean any federal, state, local or foreign court or governmental agency, authority, instrumentality or
regulatory or legislative body (including any supra-natural bodies such as the European Union or the European Central Bank). 
 “Hazardous
Materials” shall mean all pollutants, contaminants, and toxic or hazardous wastes, chemicals, materials, substances and constituents, including, without limitation, explosive or radioactive substances or petroleum or petroleum distillates,
asbestos or asbestos containing materials, polychlorinated biphenyls or radon gas, of any nature subject to regulation or which can give rise to liability under any Environmental Law. 

“Insurance Assignment” has the meaning given to such term in the Landlord Credit Agreement. 

“Landlord Credit Agreement” shall mean that certain First Lien Credit Agreement, dated as of [●], 2017, among [Merger Newco], a
Delaware corporation, VICI Properties 1 LLC, a Delaware limited liability company, the lenders and other parties from time to time party thereto and [●], as administrative agent. 

“Landlord Debt Documents” shall mean the Landlord Credit Agreement, the Loan Documents (as defined in the Landlord Credit Agreement), the
Landlord First Lien Indenture, the Notes (as defined in the Landlord First Lien Indenture), the Security Documents (as defined in the Landlord First Lien Indenture), the Landlord Second Lien Indenture, the Notes (as defined in the Landlord Second
Lien Indenture) and the Security Documents (as defined in the Landlord Second Lien Indenture). 
 “Landlord First Lien Indenture” shall
mean that certain Indenture, dated as of [●], 2017, among VICI Properties 1 LLC, a Delaware limited liability company, VICI FC Inc., a Delaware 

 
corporation, VICI NC LLC, a Delaware limited liability company, the subsidiary guarantors party thereto from time to time, and UMB Bank, National Association, as trustee, for the First-Priority
Senior Secured Floating Rate Notes due 2022. 
 “Landlord Second Lien Indenture” shall mean that certain Indenture, dated as of [●],
2017, among VICI Properties 1 LLC, a Delaware limited liability company, VICI FC Inc., a Delaware corporation, VICI NC LLC, a Delaware limited liability company, the subsidiary guarantors party thereto from time to time, and UMB Bank, National
Association, as trustee, for the 8.0% Second-Priority Senior Secured Notes due 2023. 
 “Lien” shall mean, with respect to any asset,
(a) any mortgage, deed of trust, lien, hypothecation, pledge, charge, security interest or similar encumbrance in or on such asset and (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title
retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to such asset; provided that in no event shall an operating lease, the Lease Agreements, the Management and Lease
Support Agreement (in each case as defined in the Landlord Credit Agreement), or an agreement to sell be deemed to constitute a Lien. 
 “Material
Adverse Effect” shall mean a material adverse effect on the business, property, operations or financial condition of the Tenant and the Subsidiaries, taken as a whole, as relates to the Leased Property. 

“NVDC” shall mean the United States Coast Guard’s National Vessel Documentation Center or any successor entity. 

“Other First Lien Landlord Agreement” shall have the meaning given to the term “Other First Lien Agreement” in the Collateral
Agreement referred to in the Landlord Credit Agreement. 
 “Permitted Lien” has the meaning given to such term in the Landlord Credit
Agreement. 
 “Projections” shall mean the projections of the Tenant and its Subsidiaries and any forward-looking statements (including
statements with respect to booked business) of such entities furnished to the Landlord prior to the Closing Date. 
 “Release” shall mean
any spilling, leaking, seepage, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping, disposing, or depositing in, into, or onto the environment. 

“USA PATRIOT Act” shall mean the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act of 2001 (Title III of Pub. L. No. 107-56 (signed into law October 26, 2001)). 

“Ship Mortgage” has the meaning given to such term in the Landlord Credit Agreement. 

“Vessel” shall mean (i) any vessel, boat, ship, catamaran, riverboat, or barge of any kind or nature whatsoever, whether or not
temporarily or permanently moored or affixed to any real property, and includes its engines, machinery, boats, boilers, masts, rigging, anchors, chains, cables, apparel, tackle, outfit, spare gear, fuel, consumable or other stores, freights,
belongings 

 
and appurtenances, whether on board or ashore, whether now owned or hereafter acquired, and all additions, improvements and replacements hereafter made in or to said vessel, or any part thereof,
or in or to the stores, belongings and appurtenances aforesaid, (ii) any improvement to real property which is used or susceptible of use as a dockside, riverboat or water-based venue for business operations, (iii) any property which is a
vessel within the meaning given to that term in 1 U.S.C. § 3, and (iv) any property which would be a vessel within the meaning of that term as defined in 1 U.S.C. § 3 but for its removal from navigation for use in gaming or other
business operations and/or any modifications made thereto to facilitate dockside gaming or other business operations which may affect its seaworthiness, and, in each case, all appurtenances thereof. 

 SCHEDULE A 

LANDLORD ENTITIES 
 Horseshoe Council Bluffs LLC

 Harrah’s Council Bluffs LLC 
 Harrah’s Metropolis
LLC 
 Horseshoe Southern Indiana LLC 
 New Horseshoe Hammond
LLC 
 Horseshoe Bossier City Prop LLC 
 Harrah’s Bossier
City LLC 
 New Harrah’s North Kansas City LLC 
 Grand
Biloxi LLC 
 Horseshoe Tunica LLC 
 New Tunica Roadhouse LLC

 Caesars Atlantic City LLC 
 Bally’s Atlantic City LLC

 Harrah’s Lake Tahoe LLC 
 Harvey’s Lake Tahoe LLC

 Harrah’s Reno LLC 
 Bluegrass Downs Property Owner LLC

 Vegas Development LLC 
 Vegas Operating Property LLC 

Miscellaneous Land LLC 
 Propco Gulfport LLC 

 SCHEDULE B 

TENANT ENTITIES 
 CEOC, LLC, successor in
interest by merger to Caesars Entertainment Operating Company, Inc. 
 Caesars Entertainment Operating Company, Inc. 

HBR Realty Company LLC 
 Harveys Iowa Management Company LLC 

Southern Illinois Riverboat/Casino Cruises LLC 
 Caesars Riverboat
Casino, LLC 
 Roman Holding Company of Indiana LLC 
 Horseshoe
Hammond, LLC 
 Horseshoe Entertainment 
 Harrah’s Bossier
City Investment Company, L.L.C. 
 Harrah’s North Kansas City LLC 

Grand Casinos of Biloxi, LLC 
 Robinson Property Group LLC 

Tunica Roadhouse LLC 
 Boardwalk Regency LLC 

Caesars New Jersey LLC 
 Bally’s Park Place LLC 

Harveys Tahoe Management Company LLC 
 Players Bluegrass Downs LLC

 Hole in the Wall, LLC 
 Casino Computer Programming, Inc.

 Harveys BR Management Company, Inc. 

 SCHEDULE 1 

GAMING LICENSES 
  

													
	 Unique ID
	 	 Legal Entity

Name
	 	 License

Category
	 	 Type of License
	 	 Issuing Agency
	 	 State
	 	 Description of

License

	 294
	 	Bally’s Park Place LLC	 	Gaming	 	Lottery License	 	State of NJ, Lottery Commission	 	New Jersey	 	Bally’s Atlantic City
							
	 446
	 	Bally’s Park Place LLC	 	Gaming	 	Gaming License	 	State of New Jersey, New Jersey Casino Commission	 	New Jersey	 	Bally’s Atlantic City
							
	 447
	 	Boardwalk Regency LLC	 	Gaming	 	Gaming License	 	State of New Jersey, New Jersey Casino Commission	 	New Jersey	 	Caesars Atlantic City
							
	 451
	 	CEOC, LLC, successor in interest by merger to Caesars Entertainment Operating Company, Inc.	 	Gaming	 	Gaming License	 	State of Nevada, Nevada Gaming Commission	 	Nevada	 	Harrah’s Reno
							
	 458
	 	Caesars Riverboat Casino, LLC	 	Gaming	 	Gaming License	 	State of Indiana, Indiana Gaming Commission	 	Indiana	 	Horseshoe Southern Indiana
							
	 192
	 	Casino Computer Programming, Inc.	 	Gaming	 	Mississippi Gaming Commission Gaming license	 	State of Mississippi, Mississippi Gaming Commission	 	Mississippi	 	0822 (allows us to be Manufacturer/Distributor)
							
	 461
	 	Grand Casinos of Biloxi, LLC	 	Gaming	 	Gaming License	 	State of Mississippi, Mississippi Gaming Commission	 	Mississippi	 	Harrah’s Gulf Coast
							
	 463
	 	Harrah’s Bossier City Investment Company, L.L.C.	 	Gaming	 	Gaming License	 	State of Louisiana, Louisiana Gaming Control Board	 	Louisiana	 	Louisiana Downs
							
	 452
	 	Harrah’s North Kansas City LLC	 	Gaming	 	Gaming License	 	State of Missouri, Missouri Gaming Commission	 	Missouri	 	Harrah’s North Kansas City

													
	 Unique ID
	 	 Legal Entity

Name
	 	 License

Category
	 	 Type of License
	 	 Issuing Agency
	 	 State
	 	 Description of

License

	 456
	 	Harveys BR Management Company, Inc.	 	Gaming	 	Gaming License	 	State of Iowa, Iowa Racing and Gaming Commission	 	Iowa	 	Horseshoe Council Bluffs
							
	 455
	 	Harveys Iowa Management Company LLC	 	Gaming	 	Gaming License	 	State of Iowa, Iowa Racing and Gaming Commission	 	Iowa	 	Harrah’s Council Bluffs
							
	 449
	 	Harveys Tahoe Management Company LLC	 	Gaming	 	Gaming License	 	State of Nevada, Nevada Gaming Commission	 	Nevada	 	Harveys Lake Tahoe
							
	 450
	 	Harveys Tahoe Management Company LLC	 	Gaming	 	Gaming License	 	State of Nevada, Nevada Gaming Commission	 	Nevada	 	Harrah’s Lake Tahoe
							
	 457
	 	Horseshoe Hammond, LLC	 	Gaming	 	Gaming License	 	State of Indiana, Indiana Gaming Commission	 	Indiana	 	Horseshoe Hammond
							
	 462
	 	Horseshoe Entertainment	 	Gaming	 	Gaming License	 	State of Louisiana, Louisiana Gaming Control Board	 	Louisiana	 	Horseshoe Bossier City
							
	 201
	 	Players Bluegrass Downs LLC	 	Gaming	 	Business Registration Race Track	 	City of Paducah	 	Kentucky	 	Annual License Tax
							
	 209
	 	Players Bluegrass Downs LLC	 	Gaming	 	Horse Racing License	 	Kentucky Horse Racing Commission	 	Kentucky	 	Horse Racing License
							
	 459
	 	Robinson Property Group LLC	 	Gaming	 	Gaming License	 	State of Mississippi, Mississippi Gaming Commission	 	Mississippi	 	Horseshoe Tunica
							
	 121
	 	Roman Holding Company of Indiana LLC	 	Gaming	 	Certificate of Documentation	 	United States Coast Guard	 	Indiana	 	Permits operation of riverboat
							
	 454
	 	Southern Illinois Riverboat/Casino Cruises LLC	 	Gaming	 	Gaming License	 	State of Illinois, Illinois Gaming Board	 	Illinois	 	Harrah’s Metropolis

													
	 Unique ID
	 	 Legal Entity

Name
	 	 License

Category
	 	 Type of License
	 	 Issuing Agency
	 	 State
	 	 Description of

License

	 460
	 	Tunica Roadhouse LLC	 	Gaming	 	Gaming License	 	State of Mississippi, Mississippi Gaming Commission	 	Mississippi	 	Tunica Roadhouse

 SCHEDULE 2 

GROUND LEASES 
 Bluegrass Downs 

Lease Agreement dated as of May 22, 1987, by and between the Inez Johnson, as landlord, and Coy Stacey and Bobby Dexter, as tenant, as assigned to
Bluegrass Downs of Paducah, LTD, as of June 1, 1987, as further assigned to Players Bluegrass Downs, Inc. as of November 22, 1993 
 Leases dated
as of July 31, 1987, by and between the Inez Johnson, as landlord, and Wayne and Gloria Simpson, as tenant, as assigned to Players Bluegrass Downs Inc., as of December 16, 1999, and as extended by that certain Extension of Lease Agreement
dated as of September 8, 2017 
 Grand Biloxi 

Public Trust Tidelands Lease dated November 16, 2015, and recorded December 1, 2015, by and between Secretary of State, for and on behalf of the
State of Mississippi, as lessor, and Grand Casinos of Biloxi, LLC, as tenant 
 Ground Lease, dated June 23, 1992 , recorded on June 25, 1992 in
Book 244 at Page 309, as amended by (i) that certain First Amendment to Ground Lease, dated November 9, 1992, evidenced of record by that Memorandum of First Amendment to Lease, dated February 1, 1993, recorded on February 5,
1993 in Deed Book 251 at Page 385, (ii) that certain Second Amendment to Lease Agreement, dated as of February 1, 1993, and recorded February 5, 1993, in Deed Book 251 at Page 593, and re-recorded [
] in Deed Book 253 at Page 385, (iii) that certain Third Amendment to Ground Lease, dated as of July 31, 1998, and recorded August 7, 1998, at Deed Book 328, at Page 253, and (iv) that certain Addendum to Ground Lease, dated
September 29, 2005, by and between Mavar, Inc. as landlord, and Grand Casinos of Biloxi, LLC, successor in interest to Grand Casinos of Mississippi, Inc. – Biloxi, as tenant 

Harrah’s Airplane Hangar 
 Lease Agreement dated
May 19, 1998, as amended pursuant to that certain First Amendment to Imperial Place Air, Ltd. Lease Agreement, dated September 21, 1999, and that certain Second Amendment to Imperial Palace Lease Agreement dated October 7, 2003, and
as assigned pursuant to that certain Assignment and Assumption of Agreement dated December 12, 2005, and as further amended pursuant to that Third Amendment to Lease Agreement dated October 2, 2007, by and between the County of Clark, as
lessor, and Caesar’s Entertainment Operating Company, Inc., successor in interest to Harrah’s Operating Company, Inc., successor in interest to Sunrise Hangar, LLC, as lessee 

 Harrah’s Council Bluffs 

Sublease Agreement filed of record in Book 95 Page 21438 of the Pottawattamie County records, and later amended by First Amendment to Sublease Agreement filed
of record May 4, 2011 in Book 2011 Page 5607 of the Pottawattamie County, Iowa 
 Harrah’s Metropolis 

Lease, dated as of October 9, 1995, by and between the City of Metropolis, as landlord, and Southern Illinois Riverboat/Casino Cruises, Inc., as tenant,
as amended by that certain First Amendment to Lease Agreement dated March 26, 2001, and that certain Second Amendment to Lease Agreement dated March 9, 2004 

Lease, dated as of December 10, 1990, by and between the City of Metropolis as landlord, and Southern Illinois Riverboat/Casino Cruises, Inc. (as
successor in interest to P.C.I., Inc., a Nevada corporation), as tenant as amended by that certain Amendment to Lease dated May 26, 1992, Amendment to Lease dated July 13, 1992, Amendment to Lease dated August 25, 1995, Amendment to
Lease dated March 26, 2001, Amendment to Lease dated March 9, 2004 and Amendment to Lease dated September 13, 2004 
 Harrah’s North
Kansas City 
 Ground Lease between Harrah’s North Kansas City LLC, a Missouri limited liability company, as successor-by-merger to Harrah’s North Kansas City Corporation, a Nevada corporation, as Lessee, and The City of North Kansas City, Missouri, as Lessor, dated July 12, 1993, as amended by that
certain First Amendment to Ground Lease dated November 22, 1994, that certain Second Amendment to Ground Lease dated as of December 19, 1995, that certain Third Amendment to Ground Lease dated December 22, 1998, that certain Fourth
Amendment to Ground Lease dated June 28, 2005, that certain Letter Re: Extension of that certain Ground Lease dated July 12, 1993, dated February 11, 2010, and that certain Letter Re: Extension of that certain Ground Lease dated
July 12, 1993, dated October 14, 2014, and as evidenced by that certain Short Form Lease recorded July 28, 1993, in Book 2252, Page 712, of the Office of the Recorder of Deeds for Clay County, Missouri 

Harvey’s Lake Tahoe 
 Douglas County, Parcel 1:
Unrecorded Lease, dated July 9, 1973, by and between Park Cattle Co., a Nevada Corporation, as Lessor and Harvey’s Wagon Wheel, Inc., a Nevada corporation, as Lessee dated February 28, 1985 as disclosed by a Memorandum of Lease,
recorded March 18, 1985, in Book 385, Page 1631, as Document No. 114959, and by an unrecorded Modification of Lease dated April 27, 1979, an unrecorded Second Amendment to Lease dated February 28, 1985 and by a unrecorded Third
Amendment to the Parking Lease and Assignment of Leases dated June 1, 1997, as disclosed by a Memorandum of Lease recorded March 6, 1998 in Book 398, Page 1298, as Document No. 434235, where Harvey’s Casino Resorts, a Nevada
corporation, formerly known as Harvey’s Wagon Wheel, Inc., a Nevada corporation assigned to Harvey’s Tahoe Management Company, INC., a Nevada corporation and by Assignment And Assumption Of Leases recorded January 21, 2008, in Book
108, Page 5387, as Document No. 716866 where Harvey’s Tahoe Management Company, Inc., a Nevada corporation assigned to 

 
Tahoe Propco, LLC, a Delaware limited liability company and by Assignment And Assumption Of Leases recorded January 21, 2008, in Book 108, Page 5393, as Document No. 716867 where Tahoe
Propco, LLC, a Delaware limited liability company assigned to Tahoe Garage Propco, LLC, a Delaware limited liability Company 
 Douglas County, Parcel 2:
Unrecorded Lease, dated July 9, 1973, by and between Park Cattle Co., a Nevada Corporation, as Lessor and Harvey’s Wagon Wheel, Inc., a Nevada corporation, as Lessee and by an unrecorded Modification of Lease dated February 28, 1985,
as disclosed by a Memorandum Of Lease, recorded March 18, 1985, in Book 385, Page 1636, as Document No. 114960, and by a unrecorded First Amendment to the Douglas County Greenbelt Lease dated June 1, 1997, as disclosed by a Memorandum
Of Lease recorded March 6, 1998 in Book 398, Page 1288, as Document No. 434233, where Harvey’s Casino Resorts, a Nevada corporation, formerly known as Harvey’s Wagon Wheel, Inc., a Nevada corporation assigned to Harvey’s
Tahoe Management Company, Inc., a Nevada corporation and by Assignment and Assumption of Leases recorded January 21, 2008, in Book 108, Page 5387, as Document No. 716866 where Harvey’s Tahoe Management Company, Inc., a Nevada
corporation assigned to Tahoe Propco, LLC, a Delaware limited liability company and by Assignment and Assumption Of Leases recorded January 21, 2008, in Book 108, Page 5393, as Document No. 716867 where Tahoe Propco, LLC, a Delaware
limited liability company assigned to Tahoe Garage Propco, LLC, a Delaware limited liability company 
 Net Lease Agreement (El Dorado, California
Property), dated as of February 28, 1985, by and between Park Cattle Co., a Nevada corporation, as landlord, and Harvey’s Wagon Wheel, Inc., a Nevada corporation, as tenant, as referenced in that certain Memorandum of Lease recorded
March 18, 1985 at Book 2410, Page 354 of the Official Records, as amended by that certain First Amendment to Lease Agreement dated June 1, 1997, between Park Cattle Co., as landlord, and Harveys Casino Resorts, f/k/a Harvey’s Wagon
Wheel, Inc., as tenant, as assigned pursuant to that certain Assignment of Leases dated June 1, 1997, by and among Harveys Casino Resorts, Harveys Tahoe Management Company, Inc., and Park Cattle Co., and that certain Assignment and Assumption
of Leases dated January 30, 2008, by and between Harveys Tahoe Management Company, Inc., and Tahoe Propco, LLC, recorded as Instrument No. 2008-0005109-00, and that certain Assignment and Assumption
of Leases dated January 30, 2008, by and between Tahoe Propco, LLC, and Tahoe Garage Propco, LLC 
 Horseshoe Bossier City 

State of Louisiana Commercial Lease by and between State of Louisiana, State Land Office and Horseshoe Entertainment, a Louisiana Ltd. Partnership, dated
July 6, 1994, as extended by that certain Letter RE: Renewal of Commercial Water Bottom Lease Contract No. 3000, dated June 30, 2014 
 Lease
Agreement by and between Johnny Bonomo, Jr., and Mary C. Bonomo, and Horseshoe Entertainment, dated February 8, 1996 

 Horseshoe Hammond 

Lease Agreement dated April 16, 2002, by and between the National Railroad Passenger Corporation (aka Amtrak), as landlord, and Horseshoe Hammond, LLC, as
tenant, as extended by that certain Letter Re: Renewal of Lease Agreement, dated September 11, 2008, as amended pursuant to that certain First Amendment to Lease Agreement dated April 13, 2012, as amended pursuant to that certain Letter
Re: Renewal of Lease Agreement dated January 10, 2017 
 License Agreement dated June 19, 1996, by and between the Department of Waterworks of the
City of Hammond and the City of Hammond, Indiana, by and through its Department of Waterworks, as landlord, and Horseshoe Hammond, LLC, as tenant, as amended pursuant to that certain First Amendment to Lease, dated April [    ],
2007 
 Lease (Casino and Parking) dated June 19, 1996, by and between City of Hammond, Department of Redevelopment, as landlord, and Horseshoe
Hammond, LLC, as tenant, as amended pursuant to that certain undated Amendment to Lease, that certain Second Amendment to Lease dated December 5, 2002, that certain Third Amendment to Lease dated December 5, 2006 

 SCHEDULE 3 

MAXIMUM FIXED RENT TERM 
  

					
	 Property Name
	  	 City, State
	  	 Maximum Fixed Rent Term

	 Harrah’s Lake Tahoe
	  	Stateline, NV	  	25
	 Harvey’s Lake Tahoe
	  	Stateline, NV	  	25
	 Harrah’s Reno
	  	Reno, NV	  	30
	 Bally’s Atlantic City
	  	Atlantic City, NJ	  	25
	 Caesars Atlantic City
	  	Atlantic City, NJ	  	25
	 Horseshoe Hammond
	  	Hammond, IN	  	25
	 Horseshoe Southern Indiana
	  	Elizabeth, IN	  	30
	 Harrah’s Metropolis
	  	Metropolis, IL	  	35
	 Harrah’s North Kansas City
	  	North Kansas City, MO	  	30
	 Harrah’s Council Bluffs
	  	Council Bluffs, IA	  	30
	 Horseshoe Council Bluffs
	  	Council Bluffs, IA	  	20
	 Grand Biloxi Casino Hotel (a/k/a Harrah’s Gulf Coast)
	  	Biloxi, MS	  	30
	 Horseshoe Tunica
	  	Tunica Resorts, MS	  	30
	 Tunica Roadhouse
	  	Tunica Resorts, MS	  	30
	 Harrah’s Bossier City (Louisiana Downs)
	  	Bossier City, LA	  	20
	 Horseshoe Bossier City
	  	Bossier City, LA	  	30

 SCHEDULE 4 

SPECIFIED SUBLEASES 
  

															
	 Contract ID
	 	Debtor(s)	 	Property
Name	 	Name of
Operation	 	Counterparty	 	Description	 	Contract
Date	 	File Name
	 N/A
	 	Bally’s Park
Place LLC	 	Bally’s
Atlantic
City	 	Best Buy
kiosk	 	NewZoom, Inc. d/b/a
ZoomSystems	 	REVOCABLE
LICENSE
AGREEMENT	 	10/1/2010	 	Zoom.pdf
								
	 8171
	 	Bally’s Park
Place LLC	 	Bally’s
Atlantic
City	 	Buca Di
Beppo	 	Buca di Beppo (USA),
LLC	 	BUCA DI BEPPO –
RESTAURANT
FRANCHISE
AGREEMENT –
BALLY’S ATLANTIC
CITY, NEW JERSEY	 	5/15/2014	 	9500 BAC Buca
Franchise Agreement
Fully Executed-2.pdf
								
	 8197
	 	Bally’s Park
Place LLC	 	Bally’s
Atlantic
City	 	Fralinger’s
Taffy	 	Fralinger’s Inc.	 	FRALINGER’S SALT
WATER TAFFY
LEASE AGREEMENT	 	12/1/2014	 	Fralingers Salt Water
Taffy Lease.pdf
								
	 8167
	 	Bally’s Park
Place LLC	 	Bally’s
Atlantic
City	 	Guy Fieri
Barrels &
Chops	 	GRF Enterprises, LLC	 	RESTAURANT
LICENSE
AGREEMENT	 	5/15/2014	 	9019 – Guy Fieri
Barrels Chops –
Restaurant License
Agreement – Fully
Executed.pdf
								
	 14871
	 	Bally’s Park
Place LLC	 	Bally’s
Atlantic
City	 	Guy Fieri
Barrels &
Chops	 	GRF Enterprises, LLC	 	FIRST AMENDMENT
TO THE
RESTAURANT
LICENSE
AGREEMENT	 	7/1/2015	 	BAC Fieri Barrel and
Chops 1st Am Fully
Executed.pdf
								
	 N/A
	 	Bally’s Park
Place LLC	 	Bally’s
Atlantic
City	 	Guy’s
Bar-B-Que
Joint	 	GRF Enterprises, LLC	 	RESTAURANT
LICENSE
AGREEMENT	 	12/22/2015	 	BAC Guy Fieri BBQ
Restaurant License
Agreement Fully
Executed.pdf
								
	 8178
	 	Bally’s Park
Place LLC	 	Bally’s
Atlantic
City	 	Harry’s
Oyster Bar	 	Harry’s Oyster Bar,
LLC.	 	LEASE AGREEMENT	 	8/30/2010	 	BAC Harry_s
Bar_(34186698_1).PDF

															
	 Contract ID
	 	Debtor(s)	 	Property
Name	 	Name of
Operation	 	Counterparty	 	Description	 	Contract
Date	 	File Name
	 8208
	 	Bally’s Park
Place LLC	 	Bally’s
Atlantic
City	 	Johnny
Rockets	 	J. Rockets
Development – Atlantic
City, LLC d/b/a Johnny
Rockets	 	ADDENDUM TO
LEASE AGREEMENT	 	8/22/2003	 	Johnny Rockets –
Lease Addendum
8-22-03.pdf
								
	 8209
	 	Bally’s Park
Place LLC	 	Bally’s
Atlantic
City	 	Johnny
Rockets	 	J. Rockets
Development – Atlantic
City, LLC d/b/a Johnny
Rockets	 	LEASE EXTENSION
AGREEMENT	 	10/1/2009	 	Johnny Rockets –
Lease Extension
10-09.pdf
								
	 8207
	 	Bally’s Park
Place LLC	 	Bally’s
Atlantic
City	 	Johnny
Rockets	 	J. Rockets
Development, LLC	 	LEASE AGREEMENT	 	10/1/2003	 	Johnny Rockets –
Lease 8-22-03.pdf
								
	 N/A
	 	Bally’s Park
Place LLC	 	Bally’s
Atlantic
City	 	Landau	 	NLH – Short Hills Ltd.,
Inc.	 	RETAIL LEASE
AGREEMENT	 	8/5/2004	 	Landau (Lease).pdf
								
	 N/A
	 	Bally’s Park
Place LLC	 	Bally’s
Atlantic
City	 	Landau	 	NLH – Short Hills Ltd.,
Inc.	 	ASSIGNMENT AND
ASSUMPTION AND
FIRST AMENDMENT
TO THE RETAIL
LEASE AGREEMENT	 	9/1/2014	 	Landau Assignment
Assumption First
Amendment
Final.pdf
								
	 8215
	 	Bally’s Park
Place LLC	 	Bally’s
Atlantic
City	 	Sack O’
Subs	 	Sacko – AC LLC d/b/a
Sack O’Subs	 	LEASE AGREEMENT	 	5/19/2010	 	Sacko-AC LLC
LEASE
(04-29-10).pdf
								
	 N/A
	 	Bally’s Park
Place LLC	 	Bally’s
Atlantic
City	 	Walt’s
Original
Primo Pizza	 	Phanie M, LLC	 	LEASE AGREEMENT	 	4/29/2010	 	Phanie Pizza
Lease.pdf
								
	 N/A
	 	Bally’s Park
Place LLC	 	Bally’s
Atlantic
City	 	Walt’s
Original
Primo Pizza	 	Phanie M, LLC	 	RENEWAL LETTER	 	4/25/2016	 	Phanie Pizza
Renewal.pdf
								
	 N/A
	 	Boardwalk
Regency LLC	 	Caesars
Atlantic
City	 	Best Buy
kiosk	 	NewZoom, Inc. d/b/a
ZoomSystems	 	REVOCABLE
LICENSE
AGREEMENT	 	11/1/2010	 	Zoom2.pdf
								
	 8337
	 	Boardwalk
Regency LLC	 	Caesars
Atlantic
City	 	Café Tazza	 	Caffe Mille Luci, LLC	 	LEASE AGREEMENT	 	9/8/2010	 	Caffe Mille Luci-
Lease.pdf

															
	 Contract ID
	 	Debtor(s)	 	Property
Name	 	Name of
Operation	 	Counterparty	 	Description	 	Contract
Date	 	File Name
	 8339
	 	Boardwalk
Regency LLC	 	Caesars
Atlantic
City	 	Dusk
Nightclub	 	AC NIGHTLIFE, LLC	 	LEASE AGREEMENT	 	1/19/2009	 	Dusk
Lease_(34245171_1).PDF
								
	 8288
	 	Boardwalk
Regency LLC	 	Caesars
Atlantic
City	 	Dusk
Nightclub	 	AC NIGHTLIFE, LLC
D/B/A DUSK	 	FIRST ADDENDUM
TO LEASE
AGREEMENT	 	6/25/2009	 	3002 – AC Nightlife
– Addendum.pdf
								
	 8308
	 	Boardwalk
Regency LLC	 	Caesars
Atlantic
City	 	Gordon
Ramsay Pub	 	Gordon Ramsay
Holdings Limited	 	DEVELOPMENT,
OPERATION AND
LICENSE
AGREEMENT
AMONG GORDON
RAMSAY, GORDON
RAMSAY HOLDINGS
LIMITED AND
BOARDWALK
REGENCY
CORPORATION DBA
CAESARS
ATLANTIC CITY	 	5/16/2014	 	7348 CAC – Gordon
GR PUB
Development
Operation License
Agreement – Fully
Executed.pdf
								
	 8277
	 	Boardwalk
Regency LLC	 	Caesars
Atlantic
City	 	Health care
provider
facility	 	Shore Health
Enterprises, Inc.	 	AMENDMENT TO
OFFICE LEASE
AGREEMENT	 	6/11/2013	 	12 – Shore Health
Lease
Amendment_(34170339_1).PDF
								
	 8360
	 	Boardwalk
Regency LLC	 	Caesars
Atlantic
City	 	Health care
provider
facility	 	Shore Health
Enterprises, Inc.	 	OFFICE LEASE
AGREEMENT	 	3/28/2013	 	Shore Crucial Care
Lease fully exec.pdf
								
	 8289
	 	Boardwalk
Regency LLC	 	Caesars
Atlantic
City	 	Morton’s
Steakhouse	 	MORTON’S OF
CHICAGO/
ATLANTIC CITY
LLC	 	LEASE AGREEMENT	 	8/16/2004	 	3005 – Morton’s –
Lease.pdf
								
	 8333
	 	Boardwalk
Regency LLC	 	Caesars
Atlantic
City	 	Morton’s
Steakhouse	 	Morton’s of Chicago/
Atlantic City, LLC	 	FIRST AMENDMENT
TO LEASE
AGREEMENT	 	7/10/2009	 	CAC Mortons 1st
Am_(34186679_1).PDF
								
	 8348
	 	Boardwalk
Regency LLC	 	Caesars
Atlantic
City	 	Office space	 	Parker McCay, P.A.	 	OFFICE LEASE
AGREEMENT	 	3/13/2012	 	Parker McCay PA –
Office
Lease_(34245176_1).PDF

															
	 Contract ID
	 	Debtor(s)	 	Property
Name	 	Name of
Operation	 	Counterparty	 	Description	 	Contract
Date	 	File Name
	 N/A
	 	Boardwalk
Regency LLC	 	Caesars
Atlantic
City	 	The Pier	 	Pier Renaissance	 	CONSENT TO
ASSIGNMENT OF
LEASE AND THIRD
AMENDMENT TO
LEASE	 	4/1/2015	 	Pier.pdf
								
	 15084
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Corporate/
 Other
	 	Hertz	 	The Hertz Corporation	 	FINANCIAL
GUARANTEE
AGREEMENT	 	12/20/2013	 	FIN The Hertz
Corporation Master
2016-12-31.pdf
								
	 15085
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Corporate/
 Other
	 	Hertz	 	The Hertz Corporation	 	FIRST AMENDMENT
TO THE FINANCIAL
GUARANTEE
AGREEMENT	 	10/1/2014	 	Hertz
Amendment.pdf
								
	 9686
	 	190
Flamingo,
LLC, as
assigned to
CEOC, LLC,
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Corporate/
 Other
	 	Jay’s Market	 	Twobohn II, LLC	 	LEASE AGREEMENT
AND ASSIGNMENT
AND ASSUMPTION
OF LEASE
AGREEMENT,
CONSENT OF
LANDLORD	 	11/6/2006	 	Jays Market Assign
of
Lease_(34229214_1).PDF
								
	 7221
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Corporate/
 Other
	 	Starbucks	 	Starbucks Corporation	 	STARBUCKS
CORPORATION
FIRST AMENDMENT
TO MASTER
LICENSING
AGREEMENT	 	12/21/2011	 	7924 SBUX 1st Am
12-21-11 Fully
Executed.pdf
								
	 14899
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Corporate/
 Other
	 	Starbucks	 	Starbucks Corporation	 	MASTER LICENSING
AGREEMENT	 	9/12/2011	 	1078 Executed
Starbucks MLA
9-12-2011.pdf

															
	 Contract ID
	 	Debtor(s)	 	Property
Name	 	Name of
Operation	 	Counterparty	 	Description	 	Contract
Date	 	File Name
	 14900
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Corporate/
 Other
	 	Starbucks	 	Starbucks Corporation	 	SECOND
AMENDMENT TO
THE MASTER
LICENSING
AGREEMENT	 	9/13/2013	 	Final Executed
Second Amendment
(Rincon).pdf
								
	 9336
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Council
Bluffs	 	Harrah’s
Council
Bluffs
Ground
Lease	 	Harveys Iowa
Management Company,
Inc.	 	GROUND LEASE
AGREEMENT	 	3/27/2002	 	5106-Harrah’s
Operating Company,
Inc.-Ground Lease-
Executed.pdf
								
	 9409
	 	Grand
Casinos of
Biloxi, LLC	 	Harrah’s
Gulf
Coast	 	Grand
Crowne
Resorts	 	Surrey Vacation
Resorts, Inc. d/b/a
Grand Crowne Resorts
Ocean View Vacation
Villas	 	SECOND
AMENDMENT TO
LEASE AGREEMENT	 	11/10/2012	 	6958 – Surrey
Vacation Resorts,
Inc. – Second Am
Ex_(34263062_1).PDF
								
	 9416
	 	Grand
Casinos of
Biloxi, LLC	 	Harrah’s
Gulf
Coast	 	Steak’n
Shake	 	Biloxi Coast
Management, Inc.	 	BILOXI COAST
MANAGEMENT, INC.
DBA STEAK’N
SHAKE LEASE
AGREEMENT	 	1/16/2014	 	8672 – Grand Biloxi
– Steak N Shake
Restaurant Lease –
Fully executed.pdf
								
	 9435
	 	Grand
Casinos of
Biloxi, LLC	 	Harrah’s
Gulf
Coast	 	Steak’n
Shake	 	STEAK N SHAKE
ENTERPRISES, INC.	 	ADDENDUM TO
LEASE AGREEMENT	 	1/21/2014	 	Steak N Shake
Executed 2014
Addendum to Lease
Agreement.pdf

															
	 Contract ID
	 	Debtor(s)	 	Property
Name	 	Name of
Operation	 	Counterparty	 	Description	 	Contract
Date	 	File Name
	 9417
	 	Grand
Casinos of
Biloxi, LLC	 	Harrah’s
Gulf
Coast	 	The
Magnolia
House	 	LAGNIAPPE
CONSULTING, LLC	 	RESTAURANT
LICENSE
AGREEMENT	 	12/23/2013	 	8897 – Grand Biloxi
– Lagniappe
Consulting -
Restaurant License
Agreement Fully
Executed.pdf
								
	 9388
	 	Harrah’s
Bossier City
Investment
Company,
L.L.C.	 	Harrah’s
Louisiana
Downs	 	Fuddrucker’s*	 	CASINO BOSSIER,
INC. D/B/A
FUDDRUCKER’S
RESTAURANT	 	Lease Agreement	 	6/8/2007	 	Fuddrucker’s – LA
Downs.pdf
								
	 N/A
	 	Harrah’s
North Kansas
City, LLC	 	Harrah’s
North
Kansas
City	 	Randolph
parking lot	 	CASECO Truck
Body & Equipment
Sales	 	LEASE AGREEMENT	 	1/5/2016	 	Caseco Lease
Agreement.pdf
								
	 7721
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Reno	 	Hash House
a Go Go	 	Reno Run LLC	 	FIRST AMENDMENT
TO THE LEASE
AGREEMENT	 	1/4/2012	 	Harrahs Reno Hash
House 1st
Am_(34186744_1).PDF
								
	 14991
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Reno	 	Hash House
a Go Go	 	Reno Run LLC	 	LEASE AGREEMENT	 	1/7/2011	 	DOC.PDF
								
	 14992
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Reno	 	Hash House
a Go Go	 	Reno Run LLC	 	SECOND
AMENDMENT TO
THE LEASE
AGREEMENT	 	1/1/2015	 	img-208061832-
0001.pdf

															
	 Contract ID
	 	Debtor(s)	 	Property
Name	 	Name of
Operation	 	Counterparty	 	Description	 	Contract
Date	 	File Name
	 15086
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Reno	 	Hertz	 	The Hertz Corporation	 	CONCESSION
AGREEMENT	 	12/20/2013	 	Executed Hertz –
Harrah’s Reno
Concession
Agmt.pdf
								
	 9761
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Reno	 	Ichiban
Japanese
Steakhouse	 	Karma Restaurants,
Inc.	 	LEASE AGREEMENT	 	5/1/2005	 	Asset 17 REN
Ichiban
Lease_(34263177_1).PDF
								
	 N/A
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Reno	 	Ichiban
Japanese
Steakhouse	 	Karma Restaurants,
Inc.	 	EXTENSION LETTER	 	2/20/2015	 	Ichibans Extension
Letter.pdf
								
	 7724
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Reno	 	Landau	 	Landau Casino Inc	 	RETAIL LEASE
AGREEMENT	 	11/1/2011	 	Harrahs Reno
Landau_(34186748_1).PDF
								
	 N/A
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Reno	 	Landau	 	Landau Casino Inc	 	RENEWAL LETTER	 	11/6/2015	 	Landau Renewal
Letter.pdf

															
	 Contract ID
	 	Debtor(s)	 	Property
Name	 	Name of
Operation	 	Counterparty	 	Description	 	Contract
Date	 	File Name
	 7001
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Reno	 	Quiznos	 	JASVIR AND RUBY
SINGH	 	THIRD
AMENDMENT TO
THE LICENSE
AGREEMENT	 	10/27/2011	 	3938-Quiznos-Third
Amendment-
Executed.pdf
								
	 7142
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Reno	 	Quiznos	 	Jasvir and Ruby Singh	 	FOURTH
AMENDMENT	 	10/18/2012	 	6978-Jasvir & Ruby
Singh-Fourth
Amendment-
Final.pdf
								
	 7333
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Reno	 	Quiznos	 	Jasvir and Ruby Singh	 	FIFTH AMENDMENT
TO THE LICENSE
AGREEMENT	 	10/30/2013	 	8924-Jasvir Ruby
Singh-Fifth
Amendment-
Executed final.pdf
								
	 14922
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Reno	 	Quiznos	 	Jasvir and Ruby Singh	 	LICENSE
AGREEMENT	 	8/13/2004	 	Quiznos Reno
License
Agreement.PDF
								
	 14923
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Reno	 	Quiznos	 	Jasvir and Ruby Singh	 	FIRST AMENDMENT
TO LICENSE
AGREEMENT	 	8/5/2009	 	Quiznos 1st Am
ex.pdf
								
	 14924
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Reno	 	Quiznos	 	Jasvir and Ruby Singh	 	SECOND
AMENDMENT TO
LICENSE
AGREEMENT	 	9/3/2010	 	Quiznos Reno 2nd
Am ex.pdf

															
	 Contract ID
	 	Debtor(s)	 	Property
Name	 	Name of
Operation	 	Counterparty	 	Description	 	Contract
Date	 	File Name
	 14925
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
Inc.	 	Harrah’s
Reno	 	Quiznos	 	Jasvir and Ruby Singh	 	SIXTH AMENDMENT
TO LICENSE
AGREEMENT	 	12/1/2014	 	98-LG – Jasvir Ruby
Singh – Sixth
Amendment –
Final.pdf
								
	 9052
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Cabo Wabo
Cantina	 	Cabo Wabo Enterprises
(“CWE”)	 	MARCH 2005
AMENDMENT TO
LICENSE
AGREEMENT	 	5/1/2004	 	March 2005 Cabo
Wabo Amendment to
License
Agreement.pdf
								
	 14873
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Cabo Wabo
Cantina	 	Red Head, Inc.	 	FOURTH
AMENDMENT TO
THE LICENSE
AGREEMENT	 	7/1/2015	 	Harvey’s Fourth
Amendment to
License Agreement
2015.pdf
								
	 9056
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Cabo Wabo
Cantina	 	Red Head, Inc. d/b/a
Cabo Wabo Enterprises	 	THIRD
AMENDMENT TO
LICENSE
AGREEMENT	 	7/1/2011	 	NewThird
Amendment to
License Agreement
FINA-2012L.pdf
								
	 14874
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Cabo Wabo
Cantina	 	Red Head, Inc. d/b/a
Cabo Wabo Enterprises	 	LICENSE
AGREEMENT	 	7/1/2011	 	Cabo Wabo HLT
License Agmt and
Amendments.pdf
								
	 9016
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Cinnabon	 	Partridge Enterprises,
Inc.	 	LEASE AGREEMENT	 	8/12/2005	 	cinnabon lease rider
1 letter.pdf

															
	 Contract ID
	 	Debtor(s)	 	Property
Name	 	Name of
Operation	 	Counterparty	 	Description	 	Contract
Date	 	File Name
	 9002
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Cinnabon	 	Partridge Enterprises,
Inc.	 	FIRST AMENDMENT
TO LEASE
AGREEMENT	 	6/1/2010	 	Cinnabon 1st
Amendment_(34263213_1).PDF
								
	 N/A
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Cinnabon	 	Partridge Enterprises,
Inc.	 	SECOND
AMENDMENT TO
LEASE AGREEMENT	 	6/1/2015	 	Cinnabon Second
Amendment.pdf
								
	 8942
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	CV Sports	 	Sunrise Sports, Inc., d/
b/a CV Sports	 	RETAIL LEASE
AGREEMENT	 	9/25/2014	 	10113 – Sunrise
Sports – Retail Lease
– Fully Executed.pdf
								
	 9771
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Fatburger/
Thai-Asian/
Tahoe Italian
Pizza	 	FST TAHOE
PARTNERS, LLC	 	LEASE AGREEMENT	 	3/31/2005	 	2995 – FST Tahoe –
executed.pdf
								
	 14888
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Fatburger/
Thai-Asian/
Tahoe Italian
Pizza	 	FST Tahoe Partners,
LLC	 	FIRST AMENDMENT
TO LEASE
AGREEMENT	 	4/17/2015	 	Fatburger First
Amendment 4-17-15
doc.pdf
								
	 9033
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Hard Rock
Café	 	Hard Rock Cafe
International (USA),
Inc	 	ADDENDUM TO
AGREEMENT	 	12/17/1999	 	Harveys Tahoe Hard
Rock Addendum
12-17-99_(34186715_1).PDF
								
	 9034
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Hard Rock
Café	 	Hard Rock Cafe
International (USA),
Inc.	 	AMENDMENT TO
LEASE AGREEMENT	 	1/17/1998	 	Harveys Tahoe Hard
Rock Am
2004_(34186717_1).PDF
								
	 9035
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Hard Rock
Café	 	Hard Rock Cafe
International (USA),
Inc.,	 	LEASE AGREEMENT	 	9/16/1998	 	Harveys Tahoe Hard
Rock
Lease_(34186720_1).PDF
								
	 9026
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Hard Rock
Café	 	Hard Rock Cafe
International, Inc.	 	NOTICE OF
EXTENSION OF
LEASE AGREEMENT	 	9/25/2012	 	Hard Rock 5 year
lease extension
request.pdf

															
	 Contract ID
	 	Debtor(s)	 	Property
Name	 	Name of
Operation	 	Counterparty	 	Description	 	Contract
Date	 	File Name
	 9036
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Hard Rock
Café	 	Hard Rock Cafe,
International (USA),
Inc.	 	LETTER
AMENDMENT	 	10/29/2007	 	Harveys Tahoe Hard
Rock Letter
Am_(34186721_1).PDF
								
	 9029
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Hertz	 	The Hertz Corporation	 	CONCESSION
AGREEMENT	 	12/20/2013	 	Harrahs Tahoe Hertz
Concession
Agmt_(34186707_1).PDF
								
	 15087
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Hertz	 	The Hertz Corporation	 	CONCESSION
AGREEMENT	 	12/20/2013	 	Executed Hertz –
Harvey’s Resort
Lake Tahoe
Concession
Agmt.pdf
								
	 8941
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	J. Boutique	 	J Boutique LLC	 	J BOUTIQUE –
RETAIL LEASE
AGREEMENT	 	7/4/2014	 	10081 -J Boutique –
Retail Lease – Fully
Executed.pdf
								
	 9047
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Landau	 	THE HYMAN
COMPANIES, INC.	 	RETAIL LEASE
AGREEMENT	 	11/10/2003	 	Landau
Agreement.pdf
								
	 15223
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Landau	 	THE HYMAN
COMPANIES, INC.	 	RETAIL LEASE
AGREEMENT	 	11/10/2003	 	img-718101734-
0001.pdf
								
	 9756
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Lulu	 	Nicole Robbins, Diana
Knowlton, and Mary
Lou Montonya	 	LICENSE
AGREEMENT AND
FIRST, SECOND AND
THIRD
AMENDMENTS	 	1/21/2001	 	img-909164344-
0001.pdf
								
	 N/A
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Promenade
Deck	 	Linda Addi	 	LINDA ADDI D/B/A
PROMENADE DECK
FASHIONS LEASE	 	4/1/2015	 	New Lease
Promenade Deck.pdf

															
	 Contract ID
	 	Debtor(s)	 	Property
Name	 	Name of
Operation	 	Counterparty	 	Description	 	Contract
Date	 	File Name
	 9040
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Straw Hat
Pizza	 	Nevada Pizza
Restaurant	 	SECOND
AMENDMENT TO
THE LEASE
AGREEMENT	 	6/10/2013	 	Harveys Tahoe Straw
Hat 2nd
Am_(34186725_1).PDF
								
	 9064
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Straw Hat
Pizza	 	NEVADA PIZZA
RESTAURANT, INC.	 	AMENDMENT TO
THE LEASE
AGREEMENT	 	12/1/2010	 	Straw Hat
Amendment.pdf
								
	 9065
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Straw Hat
Pizza	 	NEVADA PIZZA
RESTAURANTS, INC.	 	LEASE AGREEMENT	 	11/1/2010	 	Straw Hat Lease.pdf
								
	 9066
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Straw Hat
Pizza	 	NEVADA PIZZA
RESTAURANTS, INC.	 	SECOND
AMENDMENT TO
THE LEASE
AGREEMENT	 	6/10/2013	 	Straw Hat Second
Amendment
(Deli).pdf
								
	 N/A
	 	Harveys
Tahoe
Management
Company
LLC.	 	Harveys/
Harrah’s
Lake
Tahoe	 	Upper Deck
Emporium	 	Linda Addi	 	UPPER DECK
EMPORIUM LEASE	 	2/1/2016	 	HLT Upper Deck
Lease.pdf
								
	 N/A
	 	Harveys
Tahoe
Management
Company
LLC	 	Harveys/
Harrah’s
Lake
Tahoe	 	Wedding
chapel	 	Destination Tahoe
Weddings and Events,
LLC	 	LEASE AGREEMENT	 	10/1/2015	 	HLT Destination
Tahoe Weddings
Lease Fully
Executed.pdf
								
	 9143
	 	Horseshoe
Entertainment	 	Horseshoe
Bossier
City	 	8 OZ.
Steakhouse	 	NR Restaurant Group
Inc.	 	AMENDMENT 1 TO
THE LEASE
AGREEMENT	 	8/16/2010	 	8 Oz 1st
Amendment_(34245121_1).PDF
								
	 9144
	 	Horseshoe
Entertainment	 	Horseshoe
Bossier
City	 	8 OZ.
Steakhouse	 	NR Restaurant Group,
Inc.	 	LEASE AGREEMENT	 	4/23/2010	 	8 Oz Burger
Lease_(34245123_1).PDF
								
	 N/A
	 	Horseshoe
Entertainment	 	Horseshoe
Bossier
City	 	LA
Chocolatiers	 	LA Chocolatiers, LLC	 	LEASE AGREEMENT	 	1/22/2015	 	106 SE – HBC LA
Chocolatiers
Lease.pdf

															
	 Contract ID
	 	Debtor(s)	 	Property
Name	 	Name of
Operation	 	Counterparty	 	Description	 	Contract
Date	 	File Name
	 10109
	 	CEOC, LLC,
successor in
interest by
merger to
Caesars
Entertainment
Operating
Company,
 Inc.Harveys
BR
Management
Company,
Inc.
	 	Horseshoe
Council
Bluffs	 	Hilton
Garden Inn	 	23RD STREET
HOTEL
ASSOCIATES, LLC	 	GROUND LEASE
AGREEMENT	 	2/29/2008	 	Doc265798567.pdf
								
	 9351
	 	HBR Realty
Company
LLC	 	Horseshoe
Council
Bluffs	 	Pari-mutuel
dog
racetrack	 	IOWA WEST
RACING
ASSOCIATION	 	LEASE AGREEMENT	 	10/5/1999	 	5107-Iowa West
Racing Association-
Ground Lease-
Executed.pdf
								
	 N/A
	 	Horseshoe
Hammond,
LLC	 	Horseshoe
Hammond	 	Touch of
Luck	 	DP3 Massage, LLC dba
A Touch of Luck	 	REVOCABLE
ROVING CHAIR
LICENSE
AGREEMENT	 	3/1/2014	 	Touch of Luck
Executed
Contract.pdf
								
	 N/A
	 	Horseshoe
Hammond,
LLC	 	Horseshoe
Hammond	 	Touch of
Luck	 	DP3 Massage, LLC dba
A Touch of Luck	 	FIRST AMENDMENT
TO REVOCABLE
ROVING CHAIR
LICENSE
AGREEMENT	 	8/1/2015	 	UHA DP3 Touch of
Luck 1st Am
Final.pdf
								
	 8804
	 	Caesars
Riverboat
Casino, LLC	 	Horseshoe
Southern
Indiana	 	Graeter’s Ice
Cream	 	Tedesco, LLC d/b/a
Graeter’s Ice Cream	 	LEASE AGREEMENT	 	3/1/2009	 	2009 – Tedesco,
LLC dba Graeter’s
Ice Cream – Lease
Agmt (fully-
executed, part 1).pdf
								
	 14892
	 	Caesars
Riverboat
Casino, LLC	 	Horseshoe
Southern
Indiana	 	Graeter’s Ice
Cream	 	Tedesco, LLC d/b/a
Graeter’s Ice Cream	 	RENEWAL LETTER	 	7/29/2015	 	2015 Tedesco –
Horseshoe Southern
Indiana and Graeter’s
Lease Renewal.pdf

															
	 Contract ID
	 	Debtor(s)	 	Property
Name	 	Name of
Operation	 	Counterparty	 	Description	 	Contract
Date	 	File Name
	 8891
	 	Caesars
Riverboat
Casino, LLC	 	Horseshoe
Southern
Indiana	 	Indulge Spa	 	Pampering People LLC	 	FIRST AMENDMENT
TO THE LEASE
AGREEMENT	 	8/14/2012	 	Spa – crime
insurance document,
August 2012.pdf
								
	 8892
	 	Caesars
Riverboat
Casino, LLC	 	Horseshoe
Southern
Indiana	 	Indulge Spa	 	Pampering People LLC	 	LEASE AGREEMENT	 	6/4/2012	 	Spa, June 2012.pdf
								
	 14839
	 	Caesars
Riverboat
Casino, LLC	 	Horseshoe
Southern
Indiana	 	Indulge Spa	 	The Pampering People,
LLC	 	LEASE AGREEMENT	 	5/22/2015	 	Spa, Jun 2015
Executed-Second
Amendment to
Lease.pdf
								
	 14840
	 	Caesars
Riverboat
Casino, LLC	 	Horseshoe
Southern
Indiana	 	Indulge Spa	 	The Pampering People,
LLC	 	SECOND
AMENDMENT TO
LEASE AGREEMENT	 	7/1/2015	 	Spa 2015-07-The
Pampering People-
Rent Abatement-
Second
Amendment-f.pdf
								
	 15228
	 	Caesars
Riverboat
Casino, LLC	 	Horseshoe
Southern
Indiana	 	Indulge Spa	 	The Pampering People,
LLC	 	THIRD
AMENDMENT TO
LEASE AGREEMENT	 	1/1/2016	 	img-718101415-
0001.pdf
								
	 14893
	 	Caesars
Riverboat
Casino, LLC	 	Horseshoe
Southern
Indiana	 	Indulge Spa	 	The Pampering People,
LLC	 	LICENSE
AGREEMENT	 	7/2/2013	 	Spa-The Pampering
People, LLC dba
Indulge Spa – Rev
Roving Massage
License Agmt –
Final. pdf
								
	 9576
	 	Robinson
Property
Group LLC	 	Horseshoe
Tunica	 	8 OZ.
Burger Bar	 	TUNICA
RESTAURANT
GROUP, INC.	 	LEASE AGREEMENT	 	8/31/2011	 	5112-Tunica
Restaurant Group,
Inc.-Restarurant
Lease-Executed.pdf

															
	 Contract ID
	 	Debtor(s)	 	Property
Name	 	Name of
Operation	 	Counterparty	 	Description	 	Contract
Date	 	File Name
	 9607
	 	Robinson
Property
Group LLC	 	Horseshoe
Tunica	 	8 OZ.
Burger Bar	 	TUNICA
RESTAURANT
GROUP, INC.	 	FIRST AMENDMENT
TO THE LEASE
AGREEMENT	 	4/17/2013	 	7907 – First
Amendment to the
Lease Agreement –
Final.pdf
								
	 N/A
	 	Robinson
Property
Group LLC	 	Horseshoe
Tunica	 	Landau	 	NAT Landau Hyman
Jewels, Ltd., Inc.	 	LEASE AGREEMENT	 	10/12/2015	 	Landau.pdf
								
	 N/A
	 	Robinson
Property
Group LLC	 	Horseshoe
Tunica	 	Lucky 8
Asian Bistro	 	Lucky 8 Inc.	 	LUCKY 8 ASIAN
BISTRO LEASE	 	4/18/2016	 	UTU Lucky 8 (King
Chow) Lease Fully
Executed.pdf

 SCHEDULE 5 

RENT ALLOCATION 
  

																															
							
	 Period
	  	Original
Agreement
Rent/Base Rent
(w/ minimum
Escalator)	  	Rent
Allocation	  	467 Rent	  	467 Rent
Adjustment	 	467
Interest	 	467 Loan
Balance
Beginning of
Period
	 Oct-17
	  	 	$	36,108,333		  	 	 	0		  	 	 	0		  	 	 	(36,108,333	)	 	 	 	(90,271	)	 	 	 	(36,108,333	)
							
	 Nov-17
	  	 	 	36,108,333		  	 	 	0		  	 	 	0		  	 	 	(36,108,333	)	 	 	 	(180,767	)	 	 	 	(72,306,938	)
							
	 Dec-17
	  	 	 	36,108,333		  	 	 	0		  	 	 	0		  	 	 	(36,108,333	)	 	 	 	(271,490	)	 	 	 	(108,596,038	)
							
	 Jan-18
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(362,440	)	 	 	 	(144,975,862	)
							
	 Feb-18
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(360,624	)	 	 	 	(144,249,659	)
							
	 Mar-18
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(358,804	)	 	 	 	(143,521,642	)
							
	 Apr-18
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(356,980	)	 	 	 	(142,791,804	)
							
	 May-18
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(355,150	)	 	 	 	(142,060,142	)
							
	 Jun-18
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(353,317	)	 	 	 	(141,326,651	)
							
	 Jul-18
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(351,478	)	 	 	 	(140,591,325	)
							
	 Aug-18
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(349,635	)	 	 	 	(139,854,162	)
							
	 Sep-18
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(347,788	)	 	 	 	(139,115,156	)
							
	 Oct-18
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(345,936	)	 	 	 	(138,374,302	)
							
	 Nov-18
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(344,079	)	 	 	 	(137,631,596	)
							
	 Dec-18
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(342,218	)	 	 	 	(136,887,033	)
							
	 Jan-19
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(340,352	)	 	 	 	(136,140,609	)
							
	 Feb-19
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(338,481	)	 	 	 	(135,392,318	)
							
	 Mar-19
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(336,605	)	 	 	 	(134,642,157	)
							
	 Apr-19
	  	 	 	36,108,333		  	 	 	36,946,471		  	 	 	37,196,975		  	 	 	1,088,642		 	 	 	(334,725	)	 	 	 	(133,890,121	)

																									
							
	 Period
	  	Original
Agreement
Rent/Base Rent
(w/ minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	  	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
							
	 May-19
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(332,841	) 	 	 	(133,136,205	) 
							
	 Jun-19
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(330,951	) 	 	 	(132,380,403	) 
							
	 Jul-19
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(329,057	) 	 	 	(131,622,713	) 
							
	 Aug-19
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(327,158	) 	 	 	(130,863,128	) 
							
	 Sep-19
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(325,254	) 	 	 	(130,101,644	) 
							
	 Oct-19
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(323,346	) 	 	 	(129,338,256	) 
							
	 Nov-19
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(321,432	) 	 	 	(128,572,960	) 
							
	 Dec-19
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(319,514	) 	 	 	(127,805,751	) 
							
	 Jan-20
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(317,592	) 	 	 	(127,036,623	) 
							
	 Feb-20
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(315,664	) 	 	 	(126,265,573	) 
							
	 Mar-20
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(313,731	) 	 	 	(125,492,595	) 
							
	 Apr-20
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(311,794	) 	 	 	(124,717,685	) 
							
	 May-20
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(309,852	) 	 	 	(123,940,837	) 
							
	 Jun-20
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(307,905	) 	 	 	(123,162,048	) 
							
	 Jul-20
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(305,953	) 	 	 	(122,381,311	) 
							
	 Aug-20
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(303,997	) 	 	 	(121,598,622	) 
							
	 Sep-20
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(302,035	) 	 	 	(120,813,977	) 
							
	 Oct-20
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(300,068	) 	 	 	(120,027,370	) 
							
	 Nov-20
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(298,097	) 	 	 	(119,238,797	) 
							
	 Dec-20
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(296,121	) 	 	 	(118,448,252	) 

																									
							
	 Period
	  	Original
Agreement
Rent/Base Rent
(w/ minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	  	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
							
	 Jan-21
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(294,139	) 	 	 	(117,655,731	) 
							
	 Feb-21
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(292,153	) 	 	 	(116,861,229	) 
							
	 Mar-21
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(290,162	) 	 	 	(116,064,740	) 
							
	 Apr-21
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(288,166	) 	 	 	(115,266,260	) 
							
	 May-21
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(286,164	) 	 	 	(114,465,784	) 
							
	 Jun-21
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(284,158	) 	 	 	(113,663,307	) 
							
	 Jul-21
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(282,147	) 	 	 	(112,858,823	) 
							
	 Aug-21
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(280,131	) 	 	 	(112,052,328	) 
							
	 Sep-21
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(278,110	) 	 	 	(111,243,817	) 
							
	 Oct-21
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(276,083	) 	 	 	(110,433,285	) 
							
	 Nov-21
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(274,052	) 	 	 	(109,620,727	) 
							
	 Dec-21
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(272,015	) 	 	 	(108,806,137	) 
							
	 Jan-22
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(269,974	) 	 	 	(107,989,510	) 
							
	 Feb-22
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(267,927	) 	 	 	(107,170,842	) 
							
	 Mar-22
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(265,875	) 	 	 	(106,350,128	) 
							
	 Apr-22
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(263,818	) 	 	 	(105,527,361	) 
							
	 May-22
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(261,756	) 	 	 	(104,702,538	) 
							
	 Jun-22
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(259,689	) 	 	 	(103,875,652	) 
							
	 Jul-22
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(257,617	) 	 	 	(103,046,700	) 
							
	 Aug-22
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	  	 	(255,539	) 	 	 	(102,215,675	) 

																									
							
	 Period
	  	Original
Agreement
Rent/Base Rent
(w/ minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	 	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
							
	 Sep-22
	  	 	36,108,333	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	1,088,642	 	 	 	(253,456	) 	 	 	(101,382,572	) 
							
	 Oct-22
	  	 	36,830,500	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	366,475	 	 	 	(253,174	) 	 	 	(101,269,553	) 
							
	 Nov-22
	  	 	36,830,500	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	366,475	 	 	 	(252,891	) 	 	 	(101,156,252	) 
							
	 Dec-22
	  	 	36,830,500	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	366,475	 	 	 	(252,607	) 	 	 	(101,042,668	) 
							
	 Jan-23
	  	 	36,830,500	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	366,475	 	 	 	(252,322	) 	 	 	(100,928,799	) 
							
	 Feb-23
	  	 	36,830,500	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	366,475	 	 	 	(252,037	) 	 	 	(100,814,646	) 
							
	 Mar-23
	  	 	36,830,500	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	366,475	 	 	 	(251,751	) 	 	 	(100,700,208	) 
							
	 Apr-23
	  	 	36,830,500	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	366,475	 	 	 	(251,464	) 	 	 	(100,585,483	) 
							
	 May-23
	  	 	36,830,500	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	366,475	 	 	 	(251,176	) 	 	 	(100,470,472	) 
							
	 Jun-23
	  	 	36,830,500	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	366,475	 	 	 	(250,888	) 	 	 	(100,355,173	) 
							
	 Jul-23
	  	 	36,830,500	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	366,475	 	 	 	(250,599	) 	 	 	(100,239,586	) 
							
	 Aug-23
	  	 	36,830,500	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	366,475	 	 	 	(250,309	) 	 	 	(100,123,710	) 
							
	 Sep-23
	  	 	36,830,500	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	366,475	 	 	 	(250,019	) 	 	 	(100,007,544	) 
							
	 Oct-23
	  	 	37,567,110	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	(370,135	) 	 	 	(251,569	) 	 	 	(100,627,697	) 
							
	 Nov-23
	  	 	37,567,110	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	(370,135	) 	 	 	(253,124	) 	 	 	(101,249,402	) 
							
	 Dec-23
	  	 	37,567,110	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	(370,135	) 	 	 	(254,682	) 	 	 	(101,872,660	) 
							
	 Jan-24
	  	 	37,567,110	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	(370,135	) 	 	 	(256,244	) 	 	 	(102,497,477	) 
							
	 Feb-24
	  	 	37,567,110	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	(370,135	) 	 	 	(257,810	) 	 	 	(103,123,855	) 
							
	 Mar-24
	  	 	37,567,110	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	(370,135	) 	 	 	(259,379	) 	 	 	(103,751,800	) 
							
	 Apr-24
	  	 	37,567,110	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	(370,135	) 	 	 	(260,953	) 	 	 	(104,381,314	) 

																									
							
	 Period
	  	Original
Agreement
Rent/Base Rent
(w/ minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	 	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
							
	 May-24
	  	 	37,567,110	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	(370,135	) 	 	 	(262,531	) 	 	 	(105,012,402	) 
							
	 Jun-24
	  	 	37,567,110	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	(370,135	) 	 	 	(264,113	) 	 	 	(105,645,068	) 
							
	 Jul-24
	  	 	37,567,110	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	(370,135	) 	 	 	(265,698	) 	 	 	(106,279,316	) 
							
	 Aug-24
	  	 	37,567,110	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	(370,135	) 	 	 	(267,288	) 	 	 	(106,915,149	) 
							
	 Sep-24
	  	 	37,567,110	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	(370,135	) 	 	 	(268,881	) 	 	 	(107,552,572	) 
							
	 Oct-24
	  	 	26,822,917	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	10,374,059	 	 	 	(243,618	) 	 	 	(97,447,395	) 
							
	 Nov-24
	  	 	26,822,917	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	10,374,059	 	 	 	(218,292	) 	 	 	(87,316,954	) 
							
	 Dec-24
	  	 	26,822,917	 	  	 	36,946,471	 	  	 	37,196,975	 	  	 	10,374,059	 	 	 	(192,903	) 	 	 	(77,161,188	) 
							
	 Jan-25
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(167,450	) 	 	 	(66,980,033	) 
							
	 Feb-25
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(166,192	) 	 	 	(66,476,983	) 
							
	 Mar-25
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(164,932	) 	 	 	(65,972,676	) 
							
	 Apr-25
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(163,668	) 	 	 	(65,467,107	) 
							
	 May-25
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(162,401	) 	 	 	(64,960,275	) 
							
	 Jun-25
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(161,130	) 	 	 	(64,452,176	) 
							
	 Jul-25
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(159,857	) 	 	 	(63,942,807	) 
							
	 Aug-25
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(158,580	) 	 	 	(63,432,164	) 
							
	 Sep-25
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(157,301	) 	 	 	(62,920,245	) 
							
	 Oct-25
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(157,359	) 	 	 	(62,943,504	) 
							
	 Nov-25
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(157,417	) 	 	 	(62,966,821	) 
							
	 Dec-25
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(157,475	) 	 	 	(62,990,196	) 

																									
							
	 Period
	  	Original
Agreement
Rent/Base Rent
(w/ minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	 	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
							
	 Jan-26
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(157,534	) 	 	 	(63,013,630	) 
							
	 Feb-26
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(157,593	) 	 	 	(63,037,123	) 
							
	 Mar-26
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(157,652	) 	 	 	(63,060,674	) 
							
	 Apr-26
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(157,711	) 	 	 	(63,084,284	) 
							
	 May-26
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(157,770	) 	 	 	(63,107,954	) 
							
	 Jun-26
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(157,829	) 	 	 	(63,131,682	) 
							
	 Jul-26
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(157,889	) 	 	 	(63,155,470	) 
							
	 Aug-26
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(157,948	) 	 	 	(63,179,317	) 
							
	 Sep-26
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(158,008	) 	 	 	(63,203,224	) 
							
	 Oct-26
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(159,436	) 	 	 	(63,774,378	) 
							
	 Nov-26
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(160,867	) 	 	 	(64,346,960	) 
							
	 Dec-26
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(162,302	) 	 	 	(64,920,973	) 
							
	 Jan-27
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(163,741	) 	 	 	(65,496,421	) 
							
	 Feb-27
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(165,183	) 	 	 	(66,073,308	) 
							
	 Mar-27
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(166,629	) 	 	 	(66,651,638	) 
							
	 Apr-27
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(168,079	) 	 	 	(67,231,413	) 
							
	 May-27
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(169,532	) 	 	 	(67,812,637	) 
							
	 Jun-27
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(170,988	) 	 	 	(68,395,315	) 
							
	 Jul-27
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(172,449	) 	 	 	(68,979,449	) 
							
	 Aug-27
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(173,913	) 	 	 	(69,565,044	) 

																									
							
	 Period
	  	Original
Agreement
Rent/Base Rent
(w/ minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	 	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
							
	 Sep-27
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(175,380	) 	 	 	(70,152,102	) 
							
	 Oct-27
	  	 	26,296,977	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	1,196,439	 	 	 	(172,828	) 	 	 	(69,131,043	) 
							
	 Nov-27
	  	 	26,296,977	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	1,196,439	 	 	 	(170,269	) 	 	 	(68,107,432	) 
							
	 Dec-27
	  	 	26,296,977	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	1,196,439	 	 	 	(167,703	) 	 	 	(67,081,261	) 
							
	 Jan-28
	  	 	26,296,977	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	1,196,439	 	 	 	(165,131	) 	 	 	(66,052,524	) 
							
	 Feb-28
	  	 	26,296,977	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	1,196,439	 	 	 	(162,553	) 	 	 	(65,021,216	) 
							
	 Mar-28
	  	 	26,296,977	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	1,196,439	 	 	 	(159,968	) 	 	 	(63,987,330	) 
							
	 Apr-28
	  	 	26,296,977	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	1,196,439	 	 	 	(157,377	) 	 	 	(62,950,859	) 
							
	 May-28
	  	 	26,296,977	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	1,196,439	 	 	 	(154,779	) 	 	 	(61,911,797	) 
							
	 Jun-28
	  	 	26,296,977	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	1,196,439	 	 	 	(152,175	) 	 	 	(60,870,137	) 
							
	 Jul-28
	  	 	26,296,977	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	1,196,439	 	 	 	(149,565	) 	 	 	(59,825,873	) 
							
	 Aug-28
	  	 	26,296,977	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	1,196,439	 	 	 	(146,947	) 	 	 	(58,778,998	) 
							
	 Sep-28
	  	 	26,296,977	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	1,196,439	 	 	 	(144,324	) 	 	 	(57,729,506	) 
							
	 Oct-28
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(143,008	) 	 	 	(57,203,330	) 
							
	 Nov-28
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(141,690	) 	 	 	(56,675,839	) 
							
	 Dec-28
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(140,368	) 	 	 	(56,147,028	) 
							
	 Jan-29
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(139,042	) 	 	 	(55,616,896	) 
							
	 Feb-29
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(137,714	) 	 	 	(55,085,439	) 
							
	 Mar-29
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(136,382	) 	 	 	(54,552,652	) 
							
	 Apr-29
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(135,046	) 	 	 	(54,018,534	) 

																									
							
	 Period
	  	Original
Agreement
Rent/Base Rent
(w/ minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	 	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
							
	 May-29
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(133,708	) 	 	 	(53,483,081	) 
							
	 Jun-29
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(132,366	) 	 	 	(52,946,288	) 
							
	 Jul-29
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(131,020	) 	 	 	(52,408,154	) 
							
	 Aug-29
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(129,672	) 	 	 	(51,868,675	) 
							
	 Sep-29
	  	 	26,822,917	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	670,500	 	 	 	(128,320	) 	 	 	(51,327,847	) 
							
	 Oct-29
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(128,305	) 	 	 	(51,322,125	) 
							
	 Nov-29
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(128,291	) 	 	 	(51,316,389	) 
							
	 Dec-29
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(128,277	) 	 	 	(51,310,638	) 
							
	 Jan-30
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(128,262	) 	 	 	(51,304,873	) 
							
	 Feb-30
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(128,248	) 	 	 	(51,299,094	) 
							
	 Mar-30
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(128,233	) 	 	 	(51,293,300	) 
							
	 Apr-30
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(128,219	) 	 	 	(51,287,492	) 
							
	 May-30
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(128,204	) 	 	 	(51,281,669	) 
							
	 Jun-30
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(128,190	) 	 	 	(51,275,832	) 
							
	 Jul-30
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(128,175	) 	 	 	(51,269,980	) 
							
	 Aug-30
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(128,160	) 	 	 	(51,264,113	) 
							
	 Sep-30
	  	 	27,359,375	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	134,042	 	 	 	(128,146	) 	 	 	(51,258,232	) 
							
	 Oct-30
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(129,499	) 	 	 	(51,799,524	) 
							
	 Nov-30
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(130,855	) 	 	 	(52,342,168	) 
							
	 Dec-30
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(132,215	) 	 	 	(52,886,170	) 

																									
							
	 Period
	  	Original
Agreement
Rent/Base Rent
(w/ minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	 	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
							
	 Jan-31
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(133,579	) 	 	 	(53,431,531	) 
							
	 Feb-31
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(134,946	) 	 	 	(53,978,256	) 
							
	 Mar-31
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(136,316	) 	 	 	(54,526,348	) 
							
	 Apr-31
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(137,690	) 	 	 	(55,075,809	) 
							
	 May-31
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(139,067	) 	 	 	(55,626,645	) 
							
	 Jun-31
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(140,447	) 	 	 	(56,178,858	) 
							
	 Jul-31
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(141,831	) 	 	 	(56,732,451	) 
							
	 Aug-31
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(143,219	) 	 	 	(57,287,428	) 
							
	 Sep-31
	  	 	27,906,562	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(413,146	) 	 	 	(144,609	) 	 	 	(57,843,792	) 
							
	 Oct-31
	  	 	28,464,694	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(971,277	) 	 	 	(147,399	) 	 	 	(58,959,679	) 
							
	 Nov-31
	  	 	28,464,694	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(971,277	) 	 	 	(150,196	) 	 	 	(60,078,356	) 
							
	 Dec-31
	  	 	28,464,694	 	  	 	27,308,261	 	  	 	27,493,416	 	  	 	(971,277	) 	 	 	(153,000	) 	 	 	(61,199,829	) 
							
	 Jan-32
	  	 	28,464,694	 	  	 	32,127,366	 	  	 	32,345,196	 	  	 	3,880,502	 	 	 	(155,810	) 	 	 	(62,324,105	) 
							
	 Feb-32
	  	 	28,464,694	 	  	 	32,127,366	 	  	 	32,345,196	 	  	 	3,880,502	 	 	 	(146,499	) 	 	 	(58,599,414	) 
							
	 Mar-32
	  	 	28,464,694	 	  	 	32,127,366	 	  	 	32,345,196	 	  	 	3,880,502	 	 	 	(137,164	) 	 	 	(54,865,410	) 
							
	 Apr-32
	  	 	28,464,694	 	  	 	32,127,366	 	  	 	32,345,196	 	  	 	3,880,502	 	 	 	(127,805	) 	 	 	(51,122,071	) 
							
	 May-32
	  	 	28,464,694	 	  	 	32,127,366	 	  	 	32,345,196	 	  	 	3,880,502	 	 	 	(118,423	) 	 	 	(47,369,374	) 
							
	 Jun-32
	  	 	28,464,694	 	  	 	32,127,366	 	  	 	32,345,196	 	  	 	3,880,502	 	 	 	(109,018	) 	 	 	(43,607,296	) 
							
	 Jul-32
	  	 	28,464,694	 	  	 	32,127,366	 	  	 	32,345,196	 	  	 	3,880,502	 	 	 	(99,590	) 	 	 	(39,835,812	) 
							
	 Aug-32
	  	 	28,464,694	 	  	 	32,127,366	 	  	 	32,345,196	 	  	 	3,880,502	 	 	 	(90,137	) 	 	 	(36,054,899	) 

																									
							
	 Period
	  	Original
Agreement
Rent/Base Rent
(w/ minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	  	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
							
	 Sep-32
	  	 	28,464,694	 	  	 	32,127,366	 	  	 	32,345,196	 	  	 	3,880,502	 	  	 	(80,661	) 	 	 	(32,264,534	) 
							
		  				  				  				  				  				 	 	(0	) 

 SCHEDULE 5-A 

PROPERTY-SPECIFIC RENT ALLOCATION 
  

					
	 Leased Property
	  	 Allocated Annual Initial Rent
	 
	 Horseshoe Bossier:
	  	$	417,673.63	 
	 Horseshoe Southern Indiana:
	  	$	3,221,235.00	 

 SCHEDULE 6 

LONDON CLUBS 
  

			
	 Property
	  	 Address

	 Golden Nugget (01120)
	  	22 Shaftesbury Avenue, London W1D 7EJ
		
	 Sportsman (01110)
	  	Old Quebec Street, London W1H 7AF
		
	 The Playboy Club/10 Brick Street (01140)
	  	14 Old Park Lane, London W1K 1ND
		
	 Leicester Square (01180)
	  	5-6 Leicester Square, London WC2H 7NA
		
	 Southend (01210)
	  	Eastern Esplanade, Southend on Sea, Essex SS1 2ZG
		
	 Brighton (01220)
	  	Brighton Marina Village, Brighton, Sussex BN2 5UT
		
	 Manchester (01240)
	  	The Great Northern, Watson Street, Manchester M3 4LP
		
	 Nottingham (01270)
	  	108 Upper Parliament Street, Nottingham NG1 6LF
		
	 Glasgow (01250)
	  	Springfield Quay, Paisley Road, Glasgow G5 8NP
		
	 Leeds (01280)
	  	4 The Boulevard, Clarence Dock, Leeds LS10 1PZ

 SCHEDULE 7 

PERMITTED PROPERTY SALES 
 [SEE
ATTACHED] 

  
 54

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00275-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00275-of-00352.parquet"}]]