Document:

EX-10.12

Execution Copy

Exhibit 10.12

Amendment No. 1 to Credit Agreement

          This Amendment No. 1, dated as of January 30, 2009 (this “Amendment”), among HLI
Operating Company, Inc., a Delaware corporation (the “U.S. Borrower”), Hayes Lemmerz
Finance LLC — Luxembourg S.C.A., a société en commandite par actions organized under the laws
of the Grand Duchy of Luxembourg (the “Luxembourg Borrower” and together with the U.S. Borrower,
the “Borrowers”), Hayes Lemmerz International, Inc., a Delaware corporation (“Holdings”),
and Citicorp North America, Inc. (“CNAI”), as Administrative Agent (as defined below) on
behalf of each Lender executing a Lender Consent (as defined below), amends certain provisions of
the Second Amended and Restated Credit Agreement, dated as of May 30, 2007 (as amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrowers,
Holdings, the Lenders and Issuers (in each case as defined therein) party thereto, CNAI, as
administrative agent for the Lenders and the Issuers (in such capacity, and as agent for the
Secured Parties under the other Loan Documents, the “Administrative Agent”), Deutsche Bank
Securities Inc., as Syndication Agent, CNAI, as Documentation Agent, and
Citigroup Global Markets Inc. and Deutsche Bank Securities Inc., as Joint
Book-Running Lead Managers and Joint Lead Arrangers.

W i t n e s s e t h:

          Whereas, the Borrowers have requested that the Administrative Agent and the Lenders
agree to certain amendments to the Credit Agreement as set forth herein; and

          Whereas, the Lenders party to the attached Lender Consent and the Administrative
Agent agree, subject to the terms and conditions set forth herein, to amend the Credit Agreement as
set forth herein;

          Now, Therefore, in consideration of the premises and the covenants and obligations
contained herein the parties hereto agree as follows:

     SECTION 1. AMENDMENTS TO THE CREDIT AGREEMENT

          The Credit Agreement is, effective as of the Amendment No. 1 Effective Date (as defined below)
and subject to the satisfaction (or due waiver) of the conditions set forth in Section 4
(Conditions Precedent to the Effectiveness of this Amendment) hereof, hereby amended as follows:

          (a) Amendments to Article I (Definitions, Interpretation and Accounting Terms)

               (i) The definition of “Applicable Margin” in Section 1.1 (Defined Terms) of the Credit
Agreement is hereby amended and restated in its entirety to read as follows:

                    “Applicable Margin” means:

               (a) with respect to the Revolving Loans maintained as (i) Eurocurrency Rate Loans, a
rate equal to 6.00% per annum and (ii) Base Rate Loans, a rate equal to 5.25% per annum;

              (b) with respect to Term Loans maintained as Eurocurrency Rate Loans, a rate equal to
6.00% per annum.

 

 

Amendment
no. 1  to Credit Agreement

HLI Operating Company, Inc.

Hayes Lemmerz Finance LLC —  Luxembourg S.C.A.

               (ii) The definition of “EURIBOR” in Section 1.1 (Defined Terms) of the Credit Agreement is
hereby amended and restated in its entirety to read as follows:

                    “EURIBOR” means, in relation to any Loan in Euro, the greater of (i) 3.50% and (i) (a)
the applicable Screen Rate or (b) if no Screen Rate is available for the Interest Period of
that Loan, the arithmetic mean of the rates (rounded upwards to four decimal places) as
supplied to the Administrative Agent at its request quoted by three major banks selected by
the Administrative Agent to leading banks in the European interbank market, at or about 11
a.m. Brussels time on the second full Business Day next preceding the first day of the
relevant Interest Period in relation to which such rate is calculated.

               (iii) The definition of “German Foreign Receivables Purchase Program” in Section 1.1 (Defined
Terms) of the Credit Agreement is hereby amended by deleting the words “in an amount not to exceed
€20,000,000 at any time”.

               (iv) The definition of “Guaranty Obligations” in Section 1.1 (Defined Terms) of the Credit
Agreement is hereby amended by deleting the first parenthetical thereto in its entirety and
inserting in its place the following:

                    (or, with regard to trade payables not constituting Indebtedness, of a Foreign
Subsidiary of such Person that is not a Foreign Subsidiary Guarantor)

               (v) The definition of “Investment” in Section 1.1 (Defined Terms) of the Credit Agreement is
hereby amended by adding the following proviso at the end thereof:

                    ; provided, however, that in the case of the Loan Parties, “Investments” shall not
include any Tax Planning Transactions.

               (vi) The definition of “LIBOR Rate” in Section 1.1 (Defined Terms) of the Credit Agreement is
hereby amended and restated in its entirety to read as follows:

                    “LIBOR Rate” means, with respect to any Interest Period, the greater of (i) 2.50% and
(ii) the rate per annum determined by the Administrative Agent at approximately 11:00 a.m.
(London time) on the date that is two Business Days prior to the commencement of such
Interest Period (or, if different, the date on which quotations would customarily be
provided by leading banks in the London Interbank Market for deposits of amounts in the
relevant currency for delivery on the first day of such Interest Period) by reference to
the applicable Screen Rate for deposits in Dollars (as set forth by any service selected by
the Agent that has been nominated by the British Bankers’ Association as an authorized
information vendor for the purpose of displaying such rates), for a period equal to such
Interest Period; provided that, to the extent that an interest rate is not ascertainable
pursuant to the foregoing provisions of this definition, the “LIBOR Rate” shall be the
interest rate per annum determined by the Administrative Agent to be the average of the
rates per annum at which deposits in Dollars are offered for such relevant Interest Period
to major banks in the London interbank market in London, England by the Administrative
Agent at approximately 11:00 a.m. (London time) on the date that is two Business Days prior
to the beginning of such Interest Period.

               (vii) The definition of “Net Cash Proceeds” in Section 1.1 (Defined Terms) of the Credit
Agreement is hereby amended and restated in its entirety to read as follows:

- 2 -

 

Amendment no. 1 to Credit Agreement

HLI Operating Company, Inc.

Hayes Lemmerz Finance LLC —  Luxembourg S.C.A.

                    “Net Cash Proceeds” means proceeds received by any Loan Party or any of its
Subsidiaries after the Effective Date in cash or Cash Equivalents from any (a) Asset Sale,
other than an Asset Sale permitted under Section 8.4(a), (b), (c), (e), (f), (g), (h) or
(i) (Sale of Assets), net of (i) the reasonable cash costs of sale, assignment or other
disposition, (ii) taxes paid or reasonably estimated to be payable as a result thereof,
(iii) any amount required to be paid or prepaid on Indebtedness (other than the
Obligations) secured by the assets subject to such Asset Sale and (iv) in the case of an
Asset Sale permitted under Section 8.4(j) of assets that were used in terminated
operations, the reasonable cash costs incurred to terminate such operations, including
severance and other employee termination or transfer costs, equipment decommissioning and
refurbishing costs and costs for post-termination taxes, maintenance and services related
to such assets; provided, however, that evidence of each of (i), (ii), (iii) and (iv) above
is provided to the Administrative Agent in form and substance reasonably satisfactory to
the Administrative Agent or (b) Property Loss Event (other than a Property Loss Event
arising solely from any loss of or damage to property owned by a Securitization SPV), in
each case, net of brokers’ and advisors’ fees and other costs incurred in connection with
such transaction.

               (viii) The definition of “Reinvestment Deferred Amount” in Section 1.1 (Defined Terms) of the
Credit Agreement is hereby amended by deleting the words “Asset Sale or”.

               (ix) The definition of “Reinvestment Event” in Section 1.1 (Defined Terms) of the Credit
Agreement is hereby amended by deleting the words “Asset Sale or”.

               (x) The definition of “Reinvestment Notice” in Section 1.1 (Defined Terms) of the Credit
Agreement is hereby amended by deleting the words “an Asset Sale or” and inserting in their place
“a”.

               (xi) The definition of “Reinvestment Prepayment Amount” in Section 1.1 (Defined Terms) of the
Credit Agreement is hereby amended by deleting the words “, in the case of a Property Loss Event,”.

               (xii) The definition of “Reinvestment Prepayment Date” in Section 1.1 (Defined Terms) of the
Credit Agreement is hereby amended by deleting the words “, in the case of a Property Loss Event,”
from the parenthetical.

               (xiii) The following definitions are hereby inserted in Section 1.1 (Defined Terms) of the
Credit Agreement in the appropriate place to preserve the alphabetical order of the definitions in
such section:

                    “Amendment No. 1” means that certain Amendment No. 1, dated as of January 30, 2009,
among the U.S. Borrower, the Luxembourg Borrower, Holdings and the Administrative Agent.

                    “Amendment No. 1 Effective Date” means January 30, 2009.

                    “New Second Lien Notes” has the meaning specified in Section 8.6(b) (Prepayment and
Cancellation of Indebtedness).

                    “Tax Planning Transactions” means certain restructuring transactions among Holdings and
its Subsidiaries to be entered into in connection with Holdings’ global tax planning as
consented to by the Administrative Agent pursuant to Section 2 of Amendment No. 1.

- 3 -

 

Amendment no. 1 to Credit Agreement

HLI Operating Company, Inc.

Hayes Lemmerz Finance LLC —  Luxembourg S.C.A.

          (b) Amendment to Article II (The Facilities).

               (i) Section 2.3(a) (Swing Loans) of the Credit Agreement is hereby amended by deleting
“$35,000,000” and inserting in its place “$10,000,000”.

               (ii) Section 2.9(a) (Optional Prepayments) of the Credit Agreement is hereby amended by
inserting the words “Subject to Section 8.6(b)(i) (Prepayment and Cancellation of Indebtedness)” at
the beginning thereof.

          (c) Amendment to Article IV (Representations and Warranties)

               (i) Section 4.3(b) (Ownership; Subsidiaries) of the Credit Agreement is hereby amended by
deleting the second sentence thereof in its entirety and inserting in its place the following:

                    All of the outstanding capital stock of the U.S. Borrower has been validly issued, is
fully paid and non-assessable and is owned beneficially and of record by the Parent, all of
the outstanding capital stock of the Parent has been validly issued, is fully paid and
non-assessable and is owned beneficially and of record by Holdings, all of the outstanding
capital stock of the Luxembourg Borrower has been validly issued, is fully paid and
non-assessable and is owned beneficially and of record by the U.S. Borrower and Hayes
Lemmerz Finance LLC, in each case, free and clear of all Liens other than the Lien in favor
of the Administrative Agent for the benefit of the Secured Parties created by the Collateral
Documents.

               (ii) Section 4.8(a) (Taxes) of the Credit Agreement is hereby amended by deleting the second
sentence thereof in its entirety and inserting in its place the following:

                    If any Tax Return of the U.S. Borrower or any of its Tax Affiliates is under audit or
examination by any Governmental Authority and one or more material issues has arisen in the
course of such audit or examination, an explanation of such issue or issues is provided in
Schedule 4.8 (Taxes), as the same may be updated from time to time by written notice to the
Administrative Agent.

               (iii) Section 4.8(b) (Taxes) of the Credit Agreement is hereby amended by deleting the words
“the filing of any Tax Return or” from clause (i) thereof.

          (d) Amendments to Article V (Financial Covenants)

               (i) Section 5.1(a) (Maximum Leverage Ratio) of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:

                    Maximum Leverage Ratio. Holdings shall maintain, as of the last day of each Fiscal
Quarter set forth below, a Leverage Ratio of not more than the maximum ratio set forth below
opposite such Fiscal Quarter:

	 	 	 
	Fiscal Quarter Ending 	 	Maximum Leverage 
	On or About	 	Ratio
	July 31, 2007
	 	4.50 to 1
	October 31, 2007
	 	4.50 to 1
	January 31, 2008
	 	4.00 to 1

- 4 -

 

Amendment no. 1 to Credit Agreement

HLI Operating Company, Inc.

Hayes Lemmerz Finance LLC —  Luxembourg S.C.A.

	 	 	 
	Fiscal Quarter Ending 	 	Maximum
Leverage 
	On
or About	 	 Ratio
	April 30, 2008
	 	4.00 to 1
	July 31, 2008
	 	3.75 to 1
	October 31, 2008
	 	3.75 to 1
	January 31, 2009
	 	5.50 to 1
	April 30, 2009
	 	5.75 to 1
	July 31, 2009
	 	7.00 to 1
	October 31, 2009
	 	7.25 to 1
	January 31, 2010
	 	5.50 to 1
	April 30, 2010 and thereafter
	 	3.00 to 1

               (ii) Section 5.1(b) (Minimum Interest Coverage Ratio) of the Credit Agreement is hereby
amended and restated in its entirety to read as follows:

                    Minimum Interest Coverage Ratio. Holdings shall maintain an Interest Coverage Ratio,
as determined as of the last day of each Fiscal Quarter set forth below, for the four Fiscal
Quarters ending on such day, of at least the minimum ratio set forth below opposite such
Fiscal Quarter:

	 	 	 
	Fiscal Quarter Ending 	 	Minimum Interest 
	On or About	 	Coverage Ratio
	July 31, 2007
	 	2.00 to 1
	October 31, 2007
	 	2.00 to 1
	January 31, 2008
	 	2.25 to 1
	April 30, 2008
	 	2.25 to 1
	July 31, 2008
	 	2.50 to 1
	October 31, 2008
	 	2.50 to 1
	January 31, 2009
	 	2.25 to 1
	April 30, 2009
	 	1.75 to 1
	July 31, 2009
	 	1.55 to 1
	October 31, 2009
	 	1.35 to 1
	January 31, 2010
	 	2.15 to 1
	April 30, 2010 and thereafter
	 	3.50 to 1

               (iii) Section 5.1(c) (Capital Expenditures) of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:

                    Capital Expenditures. Holdings shall not make or incur, or permit to be made or
incurred, Capital Expenditures (excluding Capital Expenditures funded with up to 50% of the
proceeds of a Specified Asset Sale constituting a Reinvestment Event) during each of the
Fiscal Years set forth below to be, in the aggregate, in excess of the maximum amount set
forth below for such Fiscal Year:

- 5 -

 

Amendment no. 1 to Credit Agreement

HLI Operating Company, Inc.

Hayes Lemmerz Finance LLC —  Luxembourg S.C.A.

	 	 	 
	 	 	Maximum Capital
	Fiscal Year Ending On or About	 	Expenditures
	January 31, 2007
	 	$110,000,000
	January 31, 2008
	 	$110,000,000
	January 31, 2009
	 	$90,000,000
	January 31, 2010
	 	$50,000,000
	January 31, 2011
	 	$75,000,000
	January 31, 2012
	 	$75,000,000
	January 31, 2013
	 	$75,000,000
	January 31, 2014
	 	$75,000,000

provided, that the cumulative Capital Expenditures for each Fiscal Quarter in the Fiscal
Year ending on or about January 31, 2010 shall not, in the aggregate, exceed the maximum
amount set forth below:

	 	 	 
	 	 	Maximum Cumulative 
	 	 	Capital
	Fiscal Quarter Ending On or  About	 	Expenditures
	April 30, 2009
	 	$15,000,000
	July 31, 2009
	 	$30,000,000
	October 31, 2009
	 	$40,000,000
	January 31, 2010
	 	$50,000,000

provided, further, that to the extent that actual Capital Expenditures for any such Fiscal
Year shall be less than the maximum amount set forth above for such Fiscal Year (without
giving effect to the carryover permitted by this proviso), 50% of the difference between
said stated maximum amount and such actual Capital Expenditures shall, in addition, be
available for Capital Expenditures in the next succeeding Fiscal Year. Notwithstanding
anything in this Section 5.1(c) to the contrary, (i) Capital Expenditures funded with the
Net Cash Proceeds of a Property Loss Event, to the extent such Net Cash Proceeds are not
required to prepay the loans pursuant to Section 2.10 (Mandatory Prepayments), will not be
included in the calculation of Capital Expenditures for purposes of this Section 5.1(c), and
(ii) if all or a portion of amounts payable in connection with a Permitted Acquisition is
classified as a Capital Expenditure under GAAP, the amount so classified will not be
included in the calculation of Capital Expenditures for purposes of this Section 5.1(c).

          (e) Amendments to Section 6.1 (Financial Statements). Section 6.1 (Financial Statements) of
the Credit Agreement is hereby amended by inserting the following clauses (h), (i) and (j) at the
end thereof:

                    (h) Cash Flow Forecast. Commencing on February 13, 2009, and every second Friday
thereafter, a 13-week rolling cash flow forecast detailing cash receipts and cash
disbursements on a weekly basis for the next 13 weeks, plus a comparison of the actual cash
flows for the two most recently completed weeks to the most recent forecast for such weeks,
the form of which shall be reasonably satisfactory to the Administrative Agent; provided,
that such cash flow forecasts shall not be required after January 31, 2010.

- 6 -

 

Amendment no. 1 to Credit Agreement

HLI Operating Company, Inc.

Hayes Lemmerz Finance LLC —  Luxembourg S.C.A.

                    (i)         Monthly Reports.  On or prior to the 30th day following the end
of each month, financial information regarding Holdings and its Subsidiaries consisting of
Consolidated unaudited balance sheets as of the close of the preceding month and the related
Consolidated unaudited statement of income for such month and that portion of the Fiscal
Year ending as of the close of such month, prepared in accordance with GAAP (subject to the
absence of footnote disclosure and normal year-end audit adjustments).

                    (j) Preliminary Compliance Certificate. On or prior to June 1, 2009, a preliminary
Compliance Certificate showing in reasonable detail the calculations used in determining the
Leverage Ratio and demonstrating compliance with each of the financial covenants contained
in Article V (Financial Covenants) using the preliminary financial information (subject to
adjustment in connection with the preparation of the final financial statements for the
quarter) contained in the April 30, 2009 monthly financial statements delivered pursuant to
clause (i) above.

          (f) Amendments to Section 7 (Affirmative Covenants)

               (i) Section 7.13 (Post-Closing Covenants) of the Credit Amendment is hereby amended and
restated in its entirety to read as follows:

                    The Borrowers shall comply with the terms and conditions set forth on Schedule 7.13(a),
Schedule 7.13(b) and Schedule 7.13(c).

               (ii) Section 7 (Affirmative Covenants) of the Credit Agreement is hereby amended by inserting
a new Section 7.15 (Compliance with Financial Covenants) at the end thereof:

                    Section 7.15 (Compliance with Financial Covenants). Holdings shall use commercially
reasonable efforts to maintain compliance with its financial covenants, including, but not
limited to, reducing its outstanding Indebtedness and Interest Expense.

          (g) Amendments to Section 8.1 (Indebtedness)

               (i) Section 8.1(c) (Indebtedness) of the Credit Agreement is hereby amended by deleting clause
(ii) thereof in its entirety and by deleting the second proviso thereof in its entirety.

               (ii) Section 8.1(g) (Indebtedness) of the Credit Agreement is hereby amended and restated in
its entirety to read as follows:

                    Indebtedness arising from intercompany loans (including Guaranty Obligations incurred
by any Foreign Subsidiary of any Borrower with respect thereto under the Intercompany
Guaranties); provided, however, that such intercompany loans are permitted (i) under Section
8.3(e) or Section 8.3(f) (Investments) and (ii) other intercompany Indebtedness incurred by
any Foreign Subsidiary described on Exhibit K (2007 Corporate Restructuring);

               (iii) Section 8.1(k) (Indebtedness) of the Credit Agreement is hereby amended and restated in
its entirety to read as follows:

                    (k) Guaranty Obligations in respect of trade payables of Foreign Subsidiaries that are
not Foreign Subsidiary Guarantors not constituting Indebtedness and reimbursement
obligations owed to issuers of credit insurance or bank guaranties covering such

- 7 -

 

Amendment no. 1 to Credit Agreement

HLI Operating Company, Inc.

Hayes Lemmerz Finance LLC —  Luxembourg S.C.A.

trade payables; provided, however, that the Dollar Equivalent of the aggregate
outstanding principal amount of all such Guaranty Obligations and reimbursement obligations
shall not exceed at any time $50,000,000;

               (iv) Section 8.1(m) (Indebtedness) of the Credit Agreement is hereby amended by deleting
clause (i)(B) in its entirety.

               (v) Section 8.1(n) (Indebtedness) of the Credit Agreement is hereby amended and restated in
its entirety to read as follows:

                    (n) secured or unsecured Indebtedness of the Borrowers or any Subsidiary Guarantor
(including, without limitation, any New Second Lien Notes) not otherwise permitted under
this Section 8.1; provided, however, that the aggregate outstanding principal amount of all
such Indebtedness shall not exceed $100,000,000 at any time; provided, further, that the
terms and provisions of any intercreditor and subordination agreement to be entered into
between the Administrative Agent and the agent for the lenders under such Indebtedness shall
be reasonably satisfactory to the Requisite Lenders.

          (h) Amendments to Section 8.4 (Sale of Assets). The first paragraph of Section 8.4 (Sale of
Assets) of the Credit Agreement is hereby amended by deleting the second parenthetical thereof and
inserting in its place the following:

                    (any such disposition, not including any Tax Planning Transactions, being an “Asset
Sale”)

          (i) Amendments to Section 8.5 (Restricted Payments). Section 8.5(a) (Restricted Payments) of
the Credit Agreement is hereby amended by inserting the following parenthetical at the end
thereof:

                    (or, where any Subsidiary is a joint venture with another Person, Restricted Payments by
such Subsidiary to another Subsidiary and such other Person in accordance with their
respective equity interests in such joint venture Subsidiary)

          (j) Amendments to Section 8.6 (Prepayment and Cancellation of Indebtedness)

               (i) Section 8.6(b) (Prepayment and Cancellation of Indebtedness) of the Credit Agreement is
hereby amended by adding the following proviso to the end of clause (i):

                    provided, that neither Borrower shall deliver any notice of prepayment of an Revolving
Loans, or prepay any Revolving Loans, in accordance with Section 2.9(a) (Optional
Prepayments) unless (A) EBITDA for the twelve full calendar months preceding the date of the
notice of such prepayment (and the date of the prepayment) exceeds $200,000,000 and (B) such
notice of prepayment is accompanied by a certificate of Responsible Officer of the U.S.
Borrower showing in reasonable detail the calculations in determining EBITDA on such dates.

               (ii) Section 8.6(b) (Prepayment and Cancellation of Indebtedness) of the Credit Agreement is
hereby amended by adding the parenthetical “(other than the Senior Notes or the New Second Lien
Notes)” to the end of clause (viii).

               (iii) Section 8.6(b) (Prepayment and Cancellation of Indebtedness) of the Credit Agreement is
hereby amended by inserting the following clause (xiii) at the end thereof:

- 8 -

 

Amendment no. 1 to Credit Agreement

HLI Operating Company, Inc.

Hayes Lemmerz Finance LLC —  Luxembourg S.C.A.

               (xiii) exchange all or a portion of the Senior Notes for new notes or loans (the “New
Second Lien Notes”), provided, however, that (1) the aggregate principal amount of New Second
Lien Notes shall not exceed the aggregate principal amount of the Senior Notes, (2) the
maturity date of any New Second Lien Notes shall not be earlier than the maturity date of the
Senior Notes, (3) any Liens securing the New Second Lien Notes shall be permitted under
Section 8.2(j), (4) any such transaction or series of transactions pursuant to this clause
(xiii) shall not increase the Cash Interest Expense of Holdings, and (5) the other terms and
provisions of the New Second Lien Notes shall be reasonably satisfactory to the
Administrative Agent;

          (k) Amendments to Section 11.2 (Assignments and Participations. Section 11.2(a) (Assignments
and Participations) of the Credit Agreement is hereby amended by deleting clause (iii) thereof and
inserting in its place the following:

                    (iii) in the case of an assignment with respect to a Revolving Loan, if such Eligible
Assignee is not, prior to the date of such assignment, a Lender or an Affiliate or Approved
Fund of a Lender, such assignment shall be subject to the prior consent of the
Administrative Agent and the Borrowers (which consent shall not be unreasonably withheld or
delayed);

          (l) Amendments to Schedules. The Schedules to the Credit Agreement are hereby amended by
inserting a new Schedule II as set forth as Exhibit C hereto and a new Schedule 7.13(c) as set
forth as Exhibit D hereto.

     SECTION 2. CONSENT TO TAX TRANSACTIONS

          Effective as of the Amendment No. 1 Effective Date and subject to the satisfaction (or due
waiver) of the conditions set forth in Section 4 (Conditions Precedent to the General Effectiveness
of this Amendment) hereof, the Lenders party to the Lenders’ Consent, constituting the Requisite
Lenders, hereby agree that certain restructuring transactions among Holdings and its Subsidiaries
to be entered into in connection with Holdings’ global tax planning (the “Tax Planning
Transactions”) may be consented to by the Administrative Agent (not to be unreasonably withheld) on
behalf of the Requisite Lenders and that such Tax Planning Transactions shall not constitute
“Investments” or “Asset Sales” for purposes of the limitations in Section 8.3 (Investments) and
Section 8.4 (Sale of Assets) of the Credit Agreement; provided, however, that the Administrative
Agent shall withhold its consent (and shall be deemed to be acting reasonably in withholding such
consent) to any such transactions that (i) adversely affect the perfection or priority of the Liens
granted pursuant to the Collateral Documents, except to the extent any such Liens are replaced by
perfected Liens with the same priority on assets with substantially equivalent value, as determined
by the Administrative Agent in its sole discretion, (ii) adversely affect the value of any
Collateral, including any Stock pledged pursuant to the Collateral Documents, except to the extent
any such Collateral is replaced with assets with substantially equivalent value, as determined by
the Administrative Agent in its sole discretion, or (iii) release any Subsidiary Guarantors from
its Obligations under the Guaranty or any Foreign Guaranty, as applicable, except to the extent any
such guaranty is replaced with a replacement guaranty or other credit support with substantially
equivalent value, as determined by the Administrative Agent in its sole discretion.

     SECTION 3. FINANCIAL ADVISOR, ETC.

          The Borrowers agree that the Requisite Lenders may appoint one financial advisor for the
Lenders reasonably satisfactory to the Borrowers pursuant to engagement documentation and related
documentation satisfactory to the Requisite Lenders (including provision for the Ad Hoc Committee
(as defined below), the Term Lenders or the Revolving Lenders (or counsel to the Ad Hoc Committee
or

- 9 -

 

Amendment no. 1 to Credit Agreement

HLI Operating Company, Inc.

Hayes Lemmerz Finance LLC —  Luxembourg S.C.A.

counsel to the Lenders) separately to instruct the Financial Advisor to produce work product
solely for the benefit of the Ad Hoc Committee (as defined below), the Term Lenders or the
Revolving Lenders, as the case may be). The U.S. Borrower agrees upon demand to pay, or reimburse
the Lenders (or the Administrative Agent on behalf of the Lenders) for, the reasonable fees and
expenses of such financial advisor.

          The U.S. Borrower agrees upon demand to pay, or reimburse the Ad Hoc Committee (as defined
below) for, the reasonable fees and expenses of Milbank, Tweed, Hadley & McCloy LLP, special New
York counsel to the ad hoc committee of Lenders constituting Requisite Lenders specified in a
letter to Skadden, Arps, Slate, Meagher & Flom, LLP, counsel to the Borrowers dated January 30,
2009 (as the composition of such ad hoc committee may change from time to time, the “Ad Hoc
Committee”).

     SECTION 4. CONDITIONS PRECEDENT TO THE EFFECTIVENESS OF THIS AMENDMENT

          This Amendment shall become effective as of the date first written above when, and only when,
each of the following conditions precedent shall have been satisfied (the “Amendment No. 1
Effective Date”) or duly waived by the Administrative Agent:

          (a) Certain Documents. The Administrative Agent shall have received each of the following,
each dated the Amendment No. 1 Effective Date (unless otherwise agreed by the Administrative
Agent), in form and substance satisfactory to the Administrative Agent:

               (i) this Amendment, executed by the Borrowers, Holdings and the Administrative Agent;

               (ii) the Consent and Agreement, in the form attached hereto as Exhibit A (each, a
“Subsidiary Consent”), executed by each of the Guarantors;

               (iii) the Acknowledgment and Consent, in the form attached hereto as Exhibit B (each, a
“Lender Consent”), executed by the Lenders which, when combined, constitute the Requisite
Lenders;

               (iv) a certificate of a Responsible Officer to the effect that each of the conditions
set forth in clauses (c), (d), and (e) below has been satisfied;

               (v) except as set forth on Schedule 7.13(c), such amendments to, confirmations of and
consents to the Foreign Collateral Documents as are necessary to preserve the Administrative
Agent’s valid and perfected security interest in the Foreign Collateral; and

               (vi) such additional documentation as the Lenders party to the Lenders’ Consent or the
Administrative Agent may reasonably require.

          (b) Corporate and Other Proceedings. All corporate and other proceedings, and all documents,
instruments and other legal matters in connection with the transactions contemplated by this
Amendment shall be satisfactory in all respects to the Administrative Agent and each Lender;

          (c) Representations and Warranties. Each of the representations and warranties contained in
Article IV (Representations and Warranties) of the Credit Agreement, the other Loan Documents or
in any certificate, document or financial or other statement furnished at any time under or in
connection therewith are true and correct in all material respects on and as of the date hereof
and the

- 10 -

 

Amendment no. 1 to Credit Agreement

HLI Operating Company, Inc.

Hayes Lemmerz Finance LLC —  Luxembourg S.C.A.

Amendment No. 1 Effective Date, in each case as if made on and as of such date and except to
the extent that such representations and warranties specifically relate to a specific date, in
which case such representations and warranties shall be true and correct in all material respects
as of such specific date; provided, however, that references therein to the “Credit Agreement”
shall be deemed to refer to the Credit Agreement as amended by this Amendment and after giving
effect to the consents and waivers set forth herein;

          (d) No Default or Event of Default. After giving effect to this Amendment, no Default or
Event of Default (except for those that may have been duly waived) shall have occurred and be
continuing, either on the date hereof or on the Amendment No. 1 Effective Date;

          (e) No Litigation. No litigation shall have been commenced against any Loan Party or any of
its Subsidiaries, either on the date hereof or the Amendment No. 1 Effective Date, seeking to
restrain or enjoin (whether temporarily, preliminarily or permanently) the performance of any
action by any Loan Party required or contemplated by this Amendment or the Credit Agreement or any
Loan Document, in either case as amended hereby; and

          (f) Fees and Expenses Paid. The Borrowers shall have paid all Obligations due, after giving
effect to this Amendment, on or before the later of the date hereof and the Amendment No. 1
Effective Date including, without limitation, the fees set forth in Section 6 (Fees and Expenses)
hereof and all reasonable and documented costs and expenses of the Administrative Agent in
connection with the preparation, reproduction, execution and delivery of this Amendment and all
other Loan Documents entered into in connection herewith (including, without limitation, the
reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent with respect
thereto and all other Loan Documents) and all other costs, expenses and fees due under any Loan
Document.

     SECTION 5. REPRESENTATIONS AND WARRANTIES

          On and as of the date hereof and as of the Amendment No. 1 Effective Date, after giving effect
to this Amendment and the completion of the post-closing covenants set forth on Schedule 7.13(c),
the Borrowers hereby represent and warrant to the Administrative Agent and each Lender as follows:

          (a) this Amendment has been duly authorized, executed and delivered by the Borrowers and
consented to by each Guarantor and constitutes a legal, valid and binding obligation of the
Borrowers and each Guarantor, enforceable against the Borrowers and each Guarantor in accordance
with its terms and the Credit Agreement as amended by this Amendment and constitutes the legal,
valid and binding obligation of the Borrowers and each Guarantor, enforceable against the
Borrowers and each Guarantor in accordance with its terms;

          (b) each of the representations and warranties contained in Article IV (Representations and
Warranties) of the Credit Agreement, the other Loan Documents or in any certificate, document or
financial or other statement furnished at any time under or in connection therewith are true and
correct in all material respects on and as of the date hereof and the Amendment No. 1 Effective
Date, in each case as if made on and as of such date and except to the extent that such
representations and warranties specifically relate to a specific date, in which case such
representations and warranties shall be true and correct in all material respects as of such
specific date; provided, however, that references therein to the “Credit Agreement” shall be
deemed to refer to the Credit Agreement as amended hereby and after giving effect to the consents
and waivers set forth herein;

          (c) no Default or Event of Default has occurred and is continuing (except for those that are
duly waived); and

- 11 -

 

Amendment no. 1 to Credit Agreement

HLI Operating Company, Inc.

Hayes Lemmerz Finance LLC —  Luxembourg S.C.A.

          (d) no litigation has been commenced against any Loan Party or any of its Subsidiaries
seeking to restraint or enjoin (whether temporarily, preliminarily or permanently) the performance
of any action by any Loan Party required or contemplated by this Amendment, the Credit Agreement
or any Loan Document, in each case as amended hereby (if applicable).

     SECTION 6. FEES AND EXPENSES

          (a) As consideration for the execution of this Amendment, the Borrowers and each other Loan
Party jointly and severally agrees to pay to the Administrative Agent for the account of each
Lender for which the Administrative Agent shall have received (by facsimile or otherwise) an
executed Lender Consent (or a release from escrow of a Lender Consent previously delivered in
escrow) for this Amendment by 5 p.m. (New York time) on January 29, 2009 (or such later date or
time as the Administrative Agent and the Borrowers may agree), an amendment fee equal to 0.50% of
the sum of such Lender’s Revolving Credit Commitments then in effect plus the amount of such
Lender’s outstanding Term Loans.

          (b) The Borrowers and each other Loan Party agrees to pay on demand all reasonable and
documented costs and expenses of (i) the Administrative Agent in connection with the preparation,
reproduction, execution and delivery of this Amendment and all other Loan Documents entered into
in connection herewith, including, without limitation, the reasonable fees and out-of-pocket
expenses of counsel for the Administrative Agent with respect thereto and all other Loan
Documents, and (ii) the reasonable fees and out-of-pocket expenses of one additional counsel for
the Lenders with respect to the negotiation of this Amendment.

     SECTION 7. REFERENCE TO THE EFFECT ON THE LOAN DOCUMENTS

          (a) As of the Amendment No. 1 Effective Date, each reference in the Credit Agreement to “this
Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, and each reference in the
other Loan Documents to the Credit Agreement (including, without limitation, by means of words
like “thereunder”, “thereof” and words of like import), shall mean and be a reference to the
Credit Agreement as amended hereby, and this Amendment and the Credit Agreement shall be read
together and construed as a single instrument. Each of the table of contents and lists of
Exhibits and Schedules of the Credit Agreement shall be amended to reflect the changes made in
this Amendment as of the Amendment No. 1 Effective Date.

          (b) Except as expressly amended hereby or specifically waived above, all of the terms and
provisions of the Credit Agreement and all other Loan Documents are and shall remain in full force
and effect and are hereby ratified and confirmed.

          (c) The execution, delivery and effectiveness of this Amendment shall not, except as
expressly provided herein, operate as a waiver of any right, power or remedy of the Lenders,
Issuers, Arranger or the Administrative Agent under any of the Loan Documents, nor constitute a
waiver or amendment of any other provision of any of the Loan Documents or for any purpose except
as expressly set forth herein.

          (d) This Amendment is a Loan Document.

     SECTION 8. EXECUTION IN COUNTERPARTS

          This Amendment may be executed in any number of counterparts and by different parties in
separate counterparts, each of which when so executed shall be deemed to be an original and all of

- 12 -

 

Amendment no. 1 to Credit Agreement

HLI Operating Company, Inc.

Hayes Lemmerz Finance LLC —  Luxembourg S.C.A.

which taken together shall constitute one and the same agreement. Signature pages may be
detached from multiple separate counterparts and attached to a single counterpart so that all
signature pages are attached to the same document. Delivery of an executed counterpart by telecopy
shall be effective as delivery of a manually executed counterpart of this Amendment.

     SECTION 9. GOVERNING LAW

          This Amendment shall be governed by and construed in accordance with the law of the State of
New York.

     SECTION 10. SECTION TITLES

          The section titles contained in this Amendment are and shall be without substantive meaning or
content of any kind whatsoever and are not a part of the agreement between the parties hereto,
except when used to reference a section. Any reference to the number of a clause, sub-clause or
subsection of any Loan Document immediately followed by a reference in parenthesis to the title of
the section of such Loan Document containing such clause, sub-clause or subsection is a reference
to such clause, sub-clause or subsection and not to the entire section; provided, however, that, in
case of direct conflict between the reference to the title and the reference to the number of such
section, the reference to the title shall govern absent manifest error. If any reference to the
number of a section (but not to any clause, sub-clause or subsection thereof) of any Loan Document
is followed immediately by a reference in parenthesis to the title of a section of any Loan
Document, the title reference shall govern in case of direct conflict absent manifest error.

     SECTION 11. NOTICES

          All communications and notices hereunder shall be given as provided in the Credit Agreement
or, as the case may be, the Guaranty.

     SECTION 12. SEVERABILITY

          The fact that any term or provision of this Agreement is held invalid, illegal or
unenforceable as to any person in any situation in any jurisdiction shall not affect the validity,
enforceability or legality of the remaining terms or provisions hereof or the validity,
enforceability or legality of such offending term or provision in any other situation or
jurisdiction or as applied to any person

     SECTION 13. SUCCESSORS

          The terms of this Amendment shall be binding upon, and shall inure to the benefit of, the
parties hereto and their respective successors and assigns.

     SECTION 14. WAIVER OF JURY TRIAL

          Each of the parties hereto irrevocably waives trial by jury in any action or proceeding
with respect to this Amendment or any other Loan Document.

[Signature Pages Follow]

- 13 -

 

          In Witness Whereof, the parties hereto have caused this Amendment to be executed by
their respective officers and general partners thereunto duly authorized, as of the date first
written above.

	 	 	 	 	 	 	 
	 	 	HLI Operating Company, Inc.,

as U.S. Borrower	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Mark A. Brebberman	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Mark A Brebberman	 	 
	 

	 	 	 	Title: CFO	 	 
	 
	 	 	 	 	 	 
	 	 	Hayes Lemmerz Finance LLC — Luxembourg S.C.A., as
Luxembourg Borrower	 	 
	 
	 	 	 	 	 	 
	 	 	By : Hayes Lemmerz Finance LLC,

its Managing Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Mark A. Brebberman	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Mark A Brebberman	 	 
	 

	 	 	 	Title: CFO	 	 
	 
	 	 	 	 	 	 
	 	 	Hayes Lemmerz International, Inc.,
as Holdings	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Mark A. Brebberman	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Mark A Brebberman	 	 
	 

	 	 	 	Title: CFO	 	 
	 
	 	 	 	 	 	 
	 	 	Citicorp North America Inc.,

as Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Brendan Mackay	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Brendan Mackay	 	 
	 

	 	 	 	Title: Vice President	 	 

- 14 -exv10w1

Exhibit 10.1

FIRST AMENDMENT TO CREDIT AND GUARANTY AGREEMENT

Dated as of April 15, 2009

          This FIRST AMENDMENT (this “Amendment”), dated as of April 15, 2009, is entered into by and
among LAS VEGAS SANDS, LLC, a Nevada limited liability company (the “Borrower”), LAS VEGAS SANDS
CORP., a Nevada corporation (“LVSC”), THE BANK OF NOVA SCOTIA, as administrative agent for the
Lenders (together with its permitted successors in such capacity, “Administrative Agent”), acting
with the consent of the Requisite Lenders, and, for the purposes of Section 4 hereof, the
GUARANTORS listed on the signature pages hereto and GOLDMAN SACHS LENDING PARTNERS LLC, as
sub-agent and auction manager for Administrative Agent and any of its successors and assigns
pursuant to Section 9.3(c) of the Credit Agreement with respect to any Auction Loan Purchase (as
defined below) pursuant to and in accordance with the terms and conditions of Section 10.6(j) of
the Credit Agreement (the “Auction Manager”).

RECITALS

     A. WHEREAS, the Borrower, the Guarantors, the Lenders, Administrative Agent, The Bank of Nova
Scotia, as Collateral Agent, Goldman Sachs Credit Partners L.P., Lehman Brothers Inc. and Citigroup
Global Markets Inc., as joint lead arrangers, joint bookrunners and syndication agents, and
JPMorgan Chase Bank, N.A., as documentation agent have entered into that certain Credit and
Guaranty Agreement, dated as of May 23, 2007 (together with all Exhibits and Schedules thereto and
as amended through the date hereof, the “Credit Agreement”).

     B. WHEREAS, capitalized terms used and not otherwise defined herein shall have the meanings
ascribed to such terms in the Credit Agreement.

     C. WHEREAS, the Credit Parties have requested that the Requisite Lenders agree to amend
certain provisions of the Credit Agreement as provided for herein.

     D. WHEREAS, the Requisite Lenders are willing to agree to such amendments relating to the
Credit Agreement subject to the terms and conditions set forth below and have consented to
Administrative Agent executing this Amendment on their behalf.

          NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants
herein contained, the parties hereto hereby agree as follows:

          1. Amendments to Credit Agreement. Upon the terms and subject to the conditions set
forth herein and in reliance on the representations and warranties of LVSC and the Credit Parties
set forth herein, the parties hereto hereby agree to the following amendments, which amendments
refer to the Credit Agreement unless specifically noted otherwise:

 

 

2

               (a) Amendments to the Table of Contents of the Credit Agreement. The Table of
Contents of the Credit Agreement is hereby amended by adding a reference to the following new
Appendices:

          “C            Outline of Auction Mechanics

            D            Form of Auction Certificate.”

               (b) Amendments to Section 1.1 of the Credit Agreement (Definitions). Section 1.1 of
the Credit Agreement is hereby amended by:

                    (i) Addition of New Definitions. Adding the following new definitions in proper
alphabetical sequence:

     “Applicable Threshold Price” as defined in Appendix C.

     “Auction Assignment Agreement” means, with respect to any assignment by a Lender to
LVSC pursuant to Section 10.6(j), an Auction Assignment Agreement in the form reasonably
acceptable to Borrower supplied by the Auction Manager to the Lenders at the time the
applicable Offer Document is posted to the Lenders on IntraLinks/IntraAgency or another
substantially equivalent website.

     “Auction Certificate” as defined in Section 10.6(j)(i).

     “Auction Loan Purchase” means any purchase of any tranche of Term Loans by LVSC,
together with the simultaneous cancellation of such Term Loans, in each case pursuant to
and in accordance with the terms and conditions of Section 10.6(j).

     “Auction Manager” means, with respect to any Auction Loan Purchase pursuant to and in
accordance with the terms and conditions of Section 10.6(j), Goldman Sachs Lending Partners
LLC in its capacity as sub-agent and auction manager for Administrative Agent pursuant to
Section 9.3(c).

     “Auction Purchase Effective Date” as defined in Section 10.6(j)(vi).

     “Excluded Information” as defined in Section 10.6(j)(iii).

     “Expiration Time” with respect to any Offer, as defined in the applicable Offer
Document.

     “First Amendment” means that certain First Amendment to Credit and Guaranty Agreement,
dated as of April 15, 2009, among Borrower, LVSC, Administrative Agent, the Auction Manager
and the Guarantors listed on the signature pages thereto.

 

3

     “First Amendment Effective Date” means the date of satisfaction of the conditions
referred to in Section 2 of the First Amendment.

     “Maximum Offer Amount” as defined in Appendix C.

     “Offer” as defined in Section 10.6(j)(ii).

     “Offer Document” means the offer document setting forth one or more Offers, with
accompanying annexes setting forth the outline of auction mechanics (on terms substantially
the same as those set forth in Appendix C, with such changes as may be approved by
the Auction Manager), and the form of sale offer for Lenders to submit their bids, posted
on IntraLinks/IntraAgency or another substantially equivalent website by Administrative
Agent to the Lenders, as such Offer Document may be amended or modified from time to time
pursuant to and in accordance with the terms and conditions of Section 10.6(j).

     “Purchase Consideration” as defined in Section 10.6(j)(i).

                    (ii) Amendments to the Definition of “Assignment Agreement.” Including the following
immediately at the end of the definition of “Assignment Agreement:”

     “, and solely for purposes of assignments to LVSC pursuant to and in accordance with
the terms and conditions of Section 10.6(j), an Auction Assignment Agreement.”

                    (iii) Amendments to the Definition of “Eligible Assignee.” Deleting the definition of
“Eligible Assignee” in its entirety and replacing it with the following:

     ““Eligible Assignee” means (i) any Lender, any Affiliate of any Lender and any Related
Fund (any two or more Related Funds being treated as a single Eligible Assignee for all
purposes hereof), (ii) any commercial bank, insurance company, investment or mutual fund or
other entity that is an “accredited investor” (as defined in Regulation D under the
Securities Act) and (iii) solely for purposes of assignments of Term Loans pursuant to and
in accordance with the terms and conditions of Section 10.6(j), LVSC; in each case, which
Person shall not have been denied an approval or a license, or found unsuitable under the
Nevada Gaming Laws or Pennsylvania Gaming Laws applicable to Lenders and which, with
respect to clauses (i) and (ii), extends credit or buys loans; provided that, other
than as expressly set forth in clause (iii) of this definition, no Credit Party, nor LVSC
or any Subsidiary of LVSC shall be an Eligible Assignee; provided, further,
that, with respect to clauses (i) and (ii), so long as no Event of Default shall have
occurred and be continuing, no (X) Person that owns or operates a casino located in
Singapore, Macau, the United Kingdom, the States of Nevada, New Jersey, Massachusetts or
Pennsylvania, or any other jurisdiction in which Borrower or any of its Subsidiaries has
obtained or applied for a Gaming License (or is an Affiliate of such a Person) shall be an
Eligible

 

4

Assignee; provided that a passive investment constituting less than 10% of the
common stock of any such casino shall not constitute ownership thereof for the purposes of
this definition, (Y) Person that owns or operates a convention, trade show, conference
center or exhibition facility in Singapore, Macau, the United Kingdom, Las Vegas, Nevada or
Clark County, Nevada or the States of New Jersey, Massachusetts or Pennsylvania, or any
other jurisdiction in which Borrower or any of its Subsidiaries owns, operates or is
developing a convention, trade show, conference center or exhibition facility (or an
Affiliate of such a Person) shall be an Eligible Assignee; provided that a passive
investment constituting less than 10% of the common stock of any such convention or trade
show facility shall not constitute ownership for the purpose of this definition, or (Z)
union pension fund shall be an Eligible Assignee; provided that any intermingled
fund or managed account which has as part of its assets under management the assets of a
union pension fund shall not be disqualified from being an Eligible Assignee hereunder so
long as the manager of such fund is not controlled by a union; provided,
further, that, after giving effect to the assignments referred to in clause (iii)
above and the related cancellations of the Loans and/or Commitments cancelled in connection
with the applicable Auction Loan Purchase, no more than 20% of the aggregate Loans and/or
Commitments at any time outstanding may be held by Adelson or any of his Related Parties or
Affiliates in the aggregate, and such Persons shall not be eligible to cast votes on any
matters subject to Lender approval hereunder and shall be disregarded in calculating
“Requisite Lenders” or any other required voting percentage hereunder.”

               (c) Amendments to Section 2.7 of the Credit Agreement (Evidence of Debt; Register,
Lenders’ Books and Records; Notes). Section 2.7(b) of the Credit Agreement is hereby amended
by adding the words “(and any cancellations of Term Loans pursuant to and in accordance with the
terms and conditions of Section 10.6(j))” immediately after the phrase “in respect of the principal
amount of the Loans” appearing in the third sentence thereof.

               (d) Amendments to Section 2.12 of the Credit Agreement (Scheduled Payments/Commitment
Reductions). Section 2.12 of the Credit Agreement is hereby amended by adding the following
new Section 2.12(e) immediately at the end of Section 2.12(d):

     “(e) Impact of Cancellations. Notwithstanding the foregoing, with respect to
any Term Loans which are cancelled pursuant to and in accordance with Section 10.6(j), the
amount of the final Installment payable on the Tranche B Term Loan Maturity Date (in the
case of such cancelled Tranche B Term Loans) or the remaining balance due on the Delayed
Draw I Term Loan Maturity Date or the Delayed Draw II Term Loan Maturity Date (in the case
of such cancelled Delayed Draw I Term Loans or Delayed Draw II Term Loans, respectively)
shall be reduced by the aggregate stated principal amount of such cancelled Tranche B Term
Loans, Delayed Draw I Term Loans or Delayed Draw II Term Loans, respectively;
provided that in no event shall the final Installment payable on the

 

5

Tranche B Term Loan Maturity Date or the remaining balance due on the Delayed Draw I
Term Loan Maturity Date or the Delayed Draw II Term Loan Maturity Date exceed the aggregate
stated principal amount of the Tranche B Term Loans, Delayed Draw I Term Loans or Delayed
Draw II Term Loans, respectively, then outstanding.”

               (e) Amendments to Section 8.1 of the Credit Agreement (Events of Default). Section
8.1(c) of the Credit Agreement is hereby amended by inserting the following phrase immediately
after the reference to “Section 6” in the second line thereof:

     “, or the failure of any Credit Party or LVSC to perform or comply with any term or
condition contained in Section 10.6(j)(i)(w), 10.6(j)(i)(x), 10.6(j)(v), or 10.6(j)(xi).”

               (f) Amendments to Section 10.2 of the Credit Agreement (Expenses). Section 10.2 of
the Credit Agreement is hereby amended by inserting the words “and the Auction Manager” immediately
after the words “by each Agent” in clause (g) thereof.

               (g) Amendments to Section 10.6 of the Credit Agreement (Successors and Assigns;
Participations). Section 10.6 of the Credit Agreement is hereby amended by:

                    (i) Amendments to Section 10.6(a) (Generally). Inserting immediately after the words “Subject
to Section 10.6(b)” in the fourth sentence thereof the words “and Section 10.6(c)”.

                    (ii) Amendments to Section 10.6(c) (Right to Assign). Deleting Section 10.6(c) in its
entirety and replacing it with the following:

     “(c) Right to Assign. Each Commitment, Loan, Letter of Credit or
participation therein, or other Obligation may in whole or in part (i) be assigned, in any
amount to another Lender, or to an Affiliate of the assigning Lender or another Lender or
Related Fund, or may be pledged by a Lender in support of its obligations to such pledgee
(without releasing the pledging Lender from any of its obligations hereunder),
provided that the provisions of this clause (i) shall not apply to LVSC to the
extent LVSC becomes a “Lender” as a result of the provisions of Section 10.6(j), (ii)
subject to clause (iii) below, be assigned in an aggregate amount of not less than
$1,000,000 (or such lesser amount (A) if contemporaneous assignments approved by
Administrative Agent in its sole discretion aggregating not less than $1,000,000 are being
made by one or more Eligible Assignees (other than LVSC) which are Affiliates or Related
Funds or (B) as shall constitute the aggregate amount of the Commitments, Loans, Letters of
Credit and participations therein, and other obligations of the assigning Lender) to any
Eligible Assignee, in each case, with the giving of notice to Borrower and Administrative
Agent or (iii) with respect to assignments of Term Loans to LVSC

 

6

pursuant to and in accordance with the terms and conditions of Section 10.6(j), be
assigned in an aggregate amount of not less than the amount specified in Section
10.6(j)(ii) with the giving of prompt notice to Administrative Agent; provided that
if any assignment permitted by this clause (c) relates to Revolving Loans, Revolving Loan
Commitments, Delayed Draw I Term Loan Commitments prior to the Delayed Draw I Term Loan
Commitment Termination Date or Delayed Draw II Term Loan Commitments prior to the Delayed
Draw II Term Loan Commitment Termination Date, the assignee shall represent that it has the
financial resources to fulfill its commitments hereunder and such assignment is consented
to by Administrative Agent (in its sole discretion, not to be unreasonably withheld or
delayed), and at any time other than when an Event of Default has occurred and is
continuing, such assignee shall be acceptable to Borrower, such consent not to be
unreasonably withheld or delayed. To the extent of any such assignment in accordance with
clause (i), (ii) or (iii) above, the assigning Lender shall be relieved of its obligations
with respect to its Commitments, Loans, Letters of Credit or participations therein, or
other Obligations or the portion thereof so assigned. The assignor or assignee to each
such assignment shall execute and deliver to Administrative Agent, for its acceptance and
recording in the Register, an Assignment Agreement, together with a processing and
recordation fee of $2,000 in respect of assignments other than assignments to or from any
Arranger and other than assignments pursuant to an Auction Assignment Agreement (it being
understood only one such fee shall be payable in the case of concurrent assignments by a
Lender to one or more Affiliates or Related Funds), and in each case such forms,
certificates or other evidence, if any, with respect to United States federal income tax
withholding matters as the assignee under such Assignment Agreement may be required to
deliver to the Administrative Agent pursuant to Section 2.20(c); provided,
however, in the event that Administrative Agent, in its sole discretion, determines
that Tranche B Term Loans after the Delayed Draw I Term Loan Commitment Termination Date
may be settled through a Settlement Service (defined below) pursuant to Section 10.6(d),
only a written or electronic confirmation of such assignment issued by a Settlement Service
(a “Settlement Confirmation”) shall be delivered with respect to assignments settled
through the Settlement Service (it being agreed that any assignment of Term Loans to LVSC
pursuant to Section 10.6(j) shall be consummated and settled through an Auction Assignment
Agreement and not through a Settlement Confirmation).”

                    (iii) Amendments to Section 10.6(d) (Mechanics). Including the following before the
first reference to “Administrative Agent” contained in the first sentence of Section 10.6(d) of the
Credit Agreement:

     “Except for assignments of Term Loans pursuant to and in accordance with the terms and
conditions of Section 10.6(j),”

                    (iv) Amendments to Section 10.6(e) (Representations and Warranties of Assignee).
Including the following new proviso immediately at the end of Section 10.6(e) of the Credit
Agreement:

 

7

     “; provided that a Person meeting the criteria of clause (iii) of the
definition of “Eligible Assignee” shall only be required to make the representations and
warranties set forth in clauses (i) and (iii) of this Section 10.6(e), in addition to all
other representations and warranties of such Person contained in the Auction Assignment
Agreement.”

                    (v) Addition of New Section 10.6(j) to the Credit Agreement (Assignments to LVSC).
Adding the following new Section 10.6(j) immediately after Section 10.6(i) of the Credit Agreement:

          “(j) Assignments to LVSC.

          (i) Notwithstanding anything to the contrary contained in this Section 10.6 or any
other provision of any Credit Document, LVSC may, at any time prior to September 30, 2010
and pursuant to an Auction Assignment Agreement, purchase Term Loans solely on the terms
and conditions set forth in this Section 10.6(j) and the Outline of Auction Mechanics
attached hereto as Appendix C, so long as (v) no Potential Event of Default or Event of
Default has occurred and is continuing or would result therefrom, (w) LVSC agrees to, and
does in fact, on each Auction Purchase Effective Date, without receiving any payment or
other consideration from Borrower in exchange therefor (including any accrued yet unpaid
interest that may have been owing in respect of such cancelled Term Loans), (1) immediately
and irrevocably forgive, cancel and forever discharge the Term Loans purchased by and
assigned to it in each Auction Loan Purchase for all purposes and (2) knowingly and
voluntarily waive and relinquish (a) all of its interests, rights and obligations as the
owner of such Term Loans and as a “Lender” under the Credit Agreement and the other Credit
Documents for all purposes under the Credit Agreement and the other Credit Documents and
(b) any rights it may have to invoke any such interests, rights and obligations or the
provisions of the Credit Agreement and the other Credit Documents with respect to such Term
Loans now or in the future, (x) the consideration used to effect any Auction Loan Purchase
shall consist solely of Equity Interests, or the cash proceeds of previously issued or
newly issued Equity Interests, of LVSC (the “Purchase Consideration”), (y) LVSC purchases
the Term Loans that are the subject of such Auction Loan Purchase by transferring the
agreed form of Purchase Consideration specified in the applicable Offer Document (including
any accrued yet unpaid interest owing in respect of such cancelled Term Loans through but
not including the applicable Auction Purchase Effective Date) directly to each assigning
Lender, and (z) LVSC has delivered to each of the Auction Manager and Borrower a
certificate substantially in the form of Appendix D (the “Auction Certificate”),
dated as of each Auction Purchase Effective Date and signed by a duly authorized officer of
LVSC, certifying to the matters set forth in clauses (v) – (y) above.

          (ii) At any time prior to September 30, 2010, LVSC may provide notice to the Auction
Manager in the form of an Offer Document that it wishes to make one or more offers (each,
an “Offer”) to Lenders to purchase

 

8

outstanding Term Loans, with such Offer to be effected pursuant to Auction Assignment
Agreements; provided, however, that all Offers shall commence and be
completed on or prior to September 30, 2010. LVSC shall have the right to purchase the
Term Loans at a purchase price determined in accordance with the terms set forth in such
Offer Document; provided that (x) the aggregate stated principal amount of all Term
Loans for which Offers are made in any Offer Document shall not be less than $25,000,000
and (y) no more than $800,000,000 in aggregate stated principal amount of Term Loans may be
purchased by LVSC in total pursuant to all Auction Loan Purchases; provided,
further, that the aggregate stated principal amount of all Term Loans assigned to
LVSC by a Lender pursuant to this Section 10.6(j)(ii) in response to the Offers contained
in a single Offer Document shall not be less than $1,000,000 in the aggregate for all
tranches of Term Loans Offered by such Lender in such Offer Document, which amount shall be
reduced to the extent necessary to reflect (1) the fact that such assignment includes all
Term Loans held by the assigning Lender and (2) the proration of such Term Loans offered by
the assigning Lender in the event a pro rata allocation is made as contemplated in the
Offer Document.

          (iii) In connection with any assignment pursuant to this Section 10.6(j), each of the
assigning Lenders, on the one hand, and LVSC, on the other hand, acknowledges and agrees
that, as of the Auction Purchase Effective Date, (A) each Auction Loan Purchase to which it
is a party and the assignment related thereto are being made pursuant to and in accordance
with the terms and conditions of this Section 10.6(j), (B) the other party to the Auction
Assignment Agreement currently may have, and later may come into possession of, information
regarding the Credit Documents or the Credit Parties that is not known to it and that may
be material to a decision to participate in any Auction Loan Purchase or enter into the
Auction Assignment Agreement or any of the transactions contemplated thereby (the “Excluded
Information”), (C) it has independently and without reliance on the other party to the
Auction Assignment Agreement made its own analysis and determined to enter into the Auction
Assignment Agreement and to consummate the transactions contemplated thereby
notwithstanding its lack of knowledge of the Excluded Information and (D) the other party
shall have no liability to it, and it hereby (to the extent permitted by law) waives and
releases any claims it may have against the other party (under applicable laws or
otherwise) with respect to the nondisclosure of the Excluded Information; provided
that the Excluded Information shall not and does not affect the truth or accuracy of the
representations or warranties of such other party contained in the Standard Terms and
Conditions set forth in each of the Auction Assignment Agreement. Each of the assigning
Lenders, on the one hand, and LVSC, on the other hand, further acknowledges that the
Excluded Information may not be available to Administrative Agent, the Auction Manager, the
other Agents or the Lenders.

          (iv) By submitting an Offer Document, LVSC acknowledges and agrees that it will make
payment of the purchase price for the purchased Term Loans, as may be accepted for payment
pursuant to the Offer Document, by

 

9

transmitting the agreed form of Purchase Consideration specified in the applicable
Offer Document directly to the assigning Lender in accordance with the terms of the Offer
Document.

          (v) On each Auction Purchase Effective Date, LVSC agrees to, without receiving any
payment or other consideration from Borrower in exchange therefor (including any accrued
yet unpaid interest that may have been owing in respect of such cancelled Term Loans), (i)
immediately and irrevocably forgive, cancel and forever discharge the Term Loans purchased
by and assigned to it in each Auction Loan Purchase for all purposes and (ii) knowingly and
voluntarily waive and relinquish (y) all of its interests, rights and obligations as the
owner of such Term Loans and as a “Lender” under the Credit Agreement and the other Credit
Documents for all purposes under the Credit Agreement and the other Credit Documents and
(z) any rights it may have to invoke any such interests, rights and obligations or the
provisions of the Credit Agreement and the other Credit Documents with respect to such Term
Loans now or in the future. LVSC further acknowledges and agrees that the cancellation of
the Term Loans purchased by and assigned to it in each Auction Loan Purchase is an
essential term of, and condition to, each Auction Loan Purchase and the assignment by the
assigning Lenders of any Term Loans to LVSC.

          (vi) Assignment of any Auction Loan Purchases shall be effective upon receipt by the
Auction Manager of a fully executed Auction Assignment Agreement effecting the assignment
thereof and upon receipt by Administrative Agent of a copy thereof for recording in the
Register. Each assignment shall be recorded in the Register by Administrative Agent on the
Business Day the Auction Assignment Agreement is received by the Auction Manager, if
received by 1:00 p.m. (New York City time), and on the following Business Day if received
after such time. Prompt notice thereof shall be provided to LVSC and a copy of such
Auction Assignment Agreement shall be retained by Administrative Agent. The date of such
recordation of a transfer shall be referred to herein as the “Auction Purchase Effective
Date.”

          (vii) Each of the assigning Lenders and LVSC acknowledges and agrees that, in addition
to the purchase price of the purchased Term Loans that has been agreed between such
assigning Lender and LVSC, LVSC shall pay by transmitting the agreed form of Purchase
Consideration specified in the applicable Offer Document directly to such assigning Lender
all unpaid interest, if any, accrued on the purchased Term Loans to but excluding the
Auction Purchase Effective Date applicable thereto. No interest shall accrue or be payable
on such purchased Term Loans from and after the Auction Purchase Effective Date and any
Term Loans owned by LVSC shall immediately upon receipt of such Term Loans by LVSC, without
further action by any Person, be deemed cancelled and no longer outstanding for all
purposes of this Agreement and all other Credit Documents (notwithstanding any provisions
herein or therein to the contrary), including, without limitation, (w) the making of, or
the application of, any payments to the Lenders under this Agreement or any other Credit
Document

 

10

(including with respect to accrued interest), (x) the making of any request, demand,
authorization, direction, notice, consent or waiver under this Agreement or any other
Credit Document, (y) the providing of any rights to LVSC in its capacity as a Lender under
this Agreement or any other Credit Document or (z) the determination of Requisite Lenders,
or for any similar or related purpose, under this Agreement or any other Credit Document,
and no such purchased Term Loan may be further assigned, transferred, contributed, conveyed
or resold by LVSC. Without limiting the foregoing, LVSC shall not, after the consummation
of the transactions contemplated by the Auction Assignment Agreement, have or be entitled
to any of the rights set forth in Sections 10.6(f), 10.6(g) and 10.6(h). Each of LVSC and
Borrower expressly consents to the provisions of this paragraph.

          (viii) For the avoidance of doubt, failure by LVSC to make any payment to a Lender
required by an Auction Assignment Agreement permitted by Section 10.6(j) shall not
constitute an Event of Default under Section 8.1(a). For the avoidance of doubt, any
extinguishment of any part of the Term Loans shall not affect any amendment or waiver which
prior to such extinguishment had been approved by or on behalf of the Requisite Lenders in
accordance with this Agreement.

          (ix) The Requisite Lenders hereby consent to the transactions described in this
Section 10.6(j) and waive the requirements of any provision of this Agreement (including,
without limitation, Section 6.9) or any other Credit Document that might otherwise result
in a breach of this Agreement or a Potential Event of Default or an Event of Default as a
result of or in connection with the consummation of any Auction Loan Purchase that is
permitted by this Section 10.6(j).

          (x) The provisions of this Section 10.6(j) shall not require LVSC to undertake or
consummate any Offer; provided that to the extent LVSC undertakes to consummate any
Offer, it shall, subject to the preceding conditions and the terms and conditions contained
in the applicable Offer, purchase (and take all the necessary steps required herein to
purchase) the principal amount of all validly tendered Term Loans at a price not to exceed
the Applicable Threshold Price and in an aggregate amount up to the Maximum Offer Amount;
provided, further, that to the extent no Lenders have validly tendered any
Term Loans requested in an Offer or as otherwise agreed to by the Auction Manager, in its
sole discretion, LVSC may revoke, withdraw or amend the Offer for such Term Loans at least
24 hours before the Expiration Time. In addition, LVSC may extend the Expiration Time of
an Offer at least 24 hours before the Expiration Time, provided, however,
that only one extension per Offer shall be permitted, which shall be for a period not
exceeding five Business Days. Furthermore, if LVSC has amended an Offer, the Auction
Manager shall have the discretion to extend the applicable Expiration Time, upon
notification to LVSC, for an additional period to afford all Lenders the necessary time to
consider such amendments. Notwithstanding anything herein to the contrary, to the extent
(i)

 

11

LVSC withdraws an Offer, (ii) an Offer becomes void because the terms and conditions
of Section 10.6(j) have not been met or (iii) the Expiration Time with respect to an Offer
passes without any Term Loans being validly tendered, LVSC shall not be permitted to submit
another Offer to the Auction Manager for a period of five Business Days.

          (xi) The provisions of this Section 10.6(j) shall not permit or authorize Borrower to
undertake or consummate an Offer and Borrower shall not be deemed an Eligible Assignee for
any purpose. All Term Loans assigned to LVSC shall be, as set forth above, immediately
cancelled and, therefore, no Term Loans assigned to LVSC pursuant to and in accordance with
the terms and conditions of this Section 10.6(j) may be further assigned, transferred,
contributed, conveyed or resold by LVSC.”

               (h) Addition of New Appendices to the Credit Agreement. The Appendices to the
Credit Agreement are hereby amended by adding an Appendix C immediately after Appendix
B in the form attached hereto as Exhibit 1 and an Appendix D immediately after
Appendix C in the form attached hereto as Exhibit 2.

          2. Conditions to Effectiveness.

          The effectiveness of the amendments contained in Section 1 hereof is conditioned upon
satisfaction of all of the following conditions precedent (the date on which all such conditions
have been satisfied being referred to herein as the “First Amendment Effective Date”):

               (a) Administrative Agent shall have received (i) a counterpart signature page of this
Amendment duly executed by each Credit Party, LVSC and the Auction Manager and (ii) consent and
authorization from the Requisite Lenders to execute this Amendment on their behalf;

               (b) LVSC and each Credit Party shall have obtained all material consents, including the
approvals of its board of directors or similar governing body, necessary or advisable in connection
with the transactions contemplated by this Amendment;

               (c) each of the representations and warranties in Section 3 below shall be true and correct in
all material respects on and as of the First Amendment Effective Date;

               (d) the Borrower and each applicable Credit Party shall have notified the Nevada Gaming
Authorities of this Amendment; and

               (e) Each of the Auction Manager and Administrative Agent shall have received payment in
immediately available funds of all fees and other amounts due and payable on or prior to the First
Amendment Effective Date, including, without limitation, (i) in the case of the Auction Manager
only, for the account of each consenting Lender that has evidenced its agreement hereto by 5:00
p.m. (New York City time) on or

 

12

before April 15, 2009, a non-refundable consent fee in an amount equal to 0.05% of the
aggregate principal amount of such Lender’s Commitments and Loans outstanding as of the date hereof
and (ii) in the case of each of the Auction Manager and Administrative Agent, reimbursement or
other payment of all reasonable and documented out-of-pocket expenses incurred by each of the
Auction Manager and Administrative Agent, respectively (including, without limitation, reasonable
and documented legal fees), required to be reimbursed or paid by the Borrower, any Credit Party or
LVSC under the Credit Agreement (including, without limitation, in connection with this Amendment
and the documents and transactions related hereto) or any engagement letter entered into by the
Borrower and/or LVSC and the Auction Manager and for which invoices have been previously presented
on or before the First Amendment Effective Date.

     Administrative Agent will notify the Borrower reasonably promptly upon the occurrence of the
First Amendment Effective Date.

          3. Representations and Warranties. In order to induce Lenders to enter into this
Amendment and to amend the Credit Agreement in the manner provided herein:

               (a) Representations and Warranties of Each Credit Party. Each Credit Party which is a
party hereto represents and warrants to each Lender that each of the following statements is true
and correct in all material respects:

                    (i) Corporate Power and Authority. Such Credit Party has all requisite corporate or
other organizational power and authority to execute and deliver this Amendment and to perform its
obligations hereunder and under the Credit Agreement (as amended hereby). The execution, delivery
and performance by such Credit Party of this Amendment, and the performance by such Credit Party of
the Credit Agreement (as amended hereby) and each other Credit Document to which it is a party,
have been duly authorized by all necessary corporate or other organizational action of such Person,
and no other corporate or other organizational proceedings on the part of each such Person are
necessary to consummate such transactions.

                    (ii) Enforceability; Binding Obligations. This Amendment and the Credit Agreement (as
amended hereby) have been duly executed and delivered by such Credit Party. Each of this Amendment
and, after giving effect to this Amendment, the Credit Agreement and the other Credit Documents,
(i) is the legal, valid and binding obligation of each Credit Party hereto and thereto, enforceable
against such Credit Party in accordance with its terms, except as may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of
creditors’ rights generally and by general equitable principles (whether enforcement is sought by
proceedings in equity or at law) and (ii) is in full force and effect. Neither the execution,
delivery or performance of this Amendment or the performance of the Credit Agreement (as amended
hereby), nor the performance of the transactions contemplated hereby or thereby, will adversely
affect the validity, perfection or priority of Collateral Agent’s Liens on any of the Collateral or
its ability to realize thereon.

 

13

                    (iii) Governmental Consents. Except for notices to the Nevada Gaming Authorities
notifying them of this Amendment, 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
execution and delivery by such Credit Party of this Amendment and the performance by each Credit
Party of the Credit Agreement (as amended hereby) and the other Credit Documents, to which it is a
party, except for such actions, consents and approvals the failure to obtain or make which could
not reasonably be expected to result in a Material Adverse Effect or which have been obtained and
are in full force and effect.

                    (iv) Incorporation of Representations and Warranties from Credit Agreement. After
giving effect to this Amendment, the representations and warranties contained in the Credit
Agreement and the other Credit Documents (other than any such representations and warranties that,
by their terms, are specifically made as of an earlier date, in which case they were true and
correct in all material respects on and as of such earlier date) are and will be true and correct
in all material respects on and as of the First Amendment Effective Date to the same extent as
though made on and as of that date.

                    (v) No Conflicts. Neither the execution and delivery by such Credit Party of this
Amendment, nor the consummation of the transactions contemplated hereby, nor the performance of and
compliance with the terms and provisions hereof or of the Credit Agreement (as amended hereby) by
such Credit Party do and will, at the time of such performance, (i) violate or conflict with any
provision of its articles of incorporation, certificate of formation or limited liability company
or partnership agreement or other governing documents or by-laws of such Person, (ii) violate,
contravene or conflict with any Legal Requirement or be in conflict with, result in a breach of or
constitute (alone or with notice or lapse of time or both) a default under any Contractual
Obligation of such Credit Party, except for any violation, contravention, conflict, breach or
default which individually or in the aggregate could not reasonably be expected to have a Material
Adverse Effect, (iii) result in or require the creation or imposition of any Lien upon or with
respect to any of the properties or assets of such Credit Party (other than any Liens created under
any of the Credit Documents in favor of Collateral Agent on behalf of the Lenders) or (iv) require
any approval of stockholders, members or partners or any approval or consent of any Person under
any Contractual Obligation of such Credit Party, except for such approvals or consents which will
be obtained on or before the First Amendment Effective Date or except for any such approvals or
consents the failure to obtain which will not have a Material Adverse Effect.

                    (vi) No Default. No event has occurred and is continuing or, after giving effect to
this Amendment, will result from the consummation of the transactions contemplated by this
Amendment that would constitute an Event of Default or a Potential Event of Default.

               (b) Representations and Warranties of LVSC. LVSC represents and warrants to each
Lender that each of the following statements is true and correct in all material respects:

 

14

                    (i) Corporate Power and Authority. LVSC has all requisite corporate power and
authority to execute and deliver this Amendment and to perform its obligations hereunder and under
Section 10.6(j) of the Credit Agreement (as amended hereby). The execution, delivery and
performance by LVSC of this Amendment, and its performance of Section 10.6(j) of the Credit
Agreement (as amended hereby), have been duly authorized by all necessary corporate action of LVSC,
and no other corporate proceedings on the part of LVSC are necessary to consummate such
transactions.

                    (ii) Enforceability; Binding Obligations. This Amendment, including LVSC’s agreement
to become a party to the Credit Agreement solely for purposes of Section 10.6(j) thereof , has been
duly executed and delivered by LVSC. Each of this Amendment and, after giving effect to this
Amendment, Section 10.6(j) of the Credit Agreement (i) is the legal, valid and binding obligation
of LVSC, enforceable against LVSC in accordance with its terms, except as may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the
enforcement of creditors’ rights generally and by general equitable principles (whether enforcement
is sought by proceedings in equity or at law) and (ii) is in full force and effect. Neither the
execution, delivery or performance of this Amendment or the performance of Section 10.6(j) of the
Credit Agreement (as amended hereby), nor the performance of the transactions contemplated hereby
or thereby, will adversely affect the validity, perfection or priority of Collateral Agent’s Liens
on any of the Collateral or its ability to realize thereon.

                    (iii) Governmental Consents. Except for notices to the Nevada Gaming Authorities
notifying them of this Amendment, 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
execution and delivery by LVSC of this Amendment and its performance of Section 10.6(j) of the
Credit Agreement (as amended hereby), except for such actions, consents and approvals the failure
to obtain or make which could not reasonably be expected to result in a Material Adverse Effect or
which have been obtained and are in full force and effect.

          4. Acknowledgment and Consent.

               (a) Each Guarantor hereby acknowledges that it has reviewed the terms and provisions of the
Credit Agreement and this Amendment and consents to the amendment of the Credit Agreement effected
pursuant to this Amendment. Each Guarantor hereby confirms that each Credit Document to which it
is a party or otherwise bound and all Collateral encumbered thereby will continue to guarantee or
secure, as the case may be, to the fullest extent possible in accordance with the Credit Documents
the payment and performance of all “Obligations” (as defined in the applicable Credit Document)
under each of the Credit Documents to which it is a party.

               (b) Each Guarantor acknowledges and agrees that all Credit Documents to which it is a party or
otherwise bound shall continue in full force and effect and that all of its obligations thereunder
shall be valid and enforceable and shall not be

 

15

impaired or limited by the execution or effectiveness of this Amendment. Each Guarantor
represents and warrants that all representations and warranties contained in the Credit Agreement
(as amended hereby) and the Credit Documents to which it is a party or otherwise bound (other than
any such representations and warranties that, by their terms, are specifically made as of an
earlier date, in which case they were true and correct in all material respects on and as of such
earlier date) are true and correct in all material respects on and as of the First Amendment
Effective Date to the same extent as though made on and as of that date.

               (c) Each Guarantor acknowledges and agrees that (i) notwithstanding the conditions to
effectiveness set forth in this Amendment, such Guarantor is not required by the terms of the
Credit Agreement or any other Credit Document to consent to the amendments to the Credit Agreement
effected pursuant to this Amendment and (ii) nothing in the Credit Agreement, this Amendment or any
other Credit Document shall be deemed to require the consent of such Guarantor to any future
amendments to the Credit Agreement.

          5. Appointment of Goldman Sachs Lending Partners LLC as Auction Manager. Administrative
Agent hereby appoints, effective as of the First Amendment Effective Date, Goldman Sachs Lending
Partners LLC as sub-agent and auction manager for Administrative Agent and any of its successors
and assigns pursuant to Section 9.3(c) of the Credit Agreement with respect to any Auction Loan
Purchase made pursuant to and in accordance with the terms and conditions of Section 10.6(j) of the
Credit Agreement and, by execution of this Amendment, hereby authorizes and directs Goldman Sachs
Lending Partners LLC to execute this Amendment in its capacity as the Auction Manager and to
perform all duties specifically set forth in Section 10.6(j) of the Credit Agreement, and to
exercise all rights, associated therewith. The Auction Manager hereby accepts such appointment,
assumes all of the rights, powers, duties and obligations of the Auction Manager under and pursuant
to Section 10.6(j) of the Credit Agreement and agrees to be bound by all the terms and provisions
of Section 10.6(j) of the Credit Agreement. Each of Borrower, LVSC and the Requisite Lenders
agrees that nothing in this Amendment, the Credit Agreement (as amended hereby) or any other Credit
Documents or otherwise will be deemed to create an advisory or fiduciary relationship or fiduciary
or other implied duty between the Auction Manager, on the one hand, and Borrower, LVSC, the Lenders
or their respective stockholders or affiliates, on the other hand. Notwithstanding any provision
herein to the contrary, nothing in this Amendment shall alter, modify or amend the rights, powers,
duties and obligations of Administrative Agent under the Credit Agreement and the other Credit
Documents. The Auction Manager may resign at any time after September 30, 2010 upon thirty-days
written notice thereof to Administrative Agent and Borrower, and the Auction Manager may not be
removed without the written consent of both Borrower and the Auction Manager.

          6. Immunity and Indemnification of Agents. For the avoidance of doubt, the general
immunity and indemnification provisions of Sections 9.3 and 9.6 of the Credit Agreement shall apply
to any Auction Loan Purchase and all other matters described in this Amendment with respect to any
Agent.

 

16

          7. Reference to and Effect on Credit Agreement and other Credit Documents.

               (a) On or after the First Amendment Effective Date, each reference in the Credit Agreement to
“this Agreement,” “hereunder,” “hereof” or words of like import referring to the Credit Agreement,
and each reference in the other Credit Documents to “the Credit Agreement,” “thereunder,” “thereof”
or words of like import referring to the Credit Agreement, shall mean and be a reference to the
Credit Agreement as amended by this Amendment.

               (b) Except as specifically amended by this Amendment, the Credit Agreement and the other
Credit Documents are and shall continue to be in full force and effect and are hereby in all
respects ratified and confirmed.

               (c) The execution, delivery and effectiveness of this Amendment shall not, except as expressly
provided in this Amendment, constitute a waiver of any provision of, or operate as a waiver of any
right, power or remedy of any Secured Party under any of the Credit Documents.

          8. Counterparts. This Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so executed and delivered
shall be deemed to be an original and all of which taken together shall constitute one and the same
agreement. Delivery of an executed counterpart of any signature page to this Amendment by
facsimile shall be effective as delivery of a manually executed counterpart of this Amendment.
Signature pages may be detached from multiple separate counterparts and attached to a single
counterpart so that all signature pages are physically attached to the same document.

          9. Headings. Section and Subsection headings in this Amendment are included herein
for convenience of reference only and shall not constitute a part of this Amendment for any other
purpose or be given any substantive effect.

          10. Governing Law. This Amendment and the rights and obligations of the parties
hereunder shall be governed by, and construed and enforced in accordance with, the internal laws of
the State of New York, without regard to conflicts of laws principles thereof that would require
the application of laws other than those of the State of New York.

(signature pages follow)

 

 

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective officers thereunto duly authorized, as of the date first written
above.

	 	 	 	 	 
	 	BORROWER:

LAS VEGAS SANDS, LLC

 	 
	 	By:  	/s/ Robert G. Goldstein
 	 
	 	 	Name:  	Robert G. Goldstein 	 
	 	 	Title:  	Senior Vice President 	 
	 

[Signature Page for Las Vegas Sands, LLC First Amendment to Credit and Guaranty Agreement]

 

 

LAS VEGAS SANDS CORP.

By its execution of this Amendment, Las Vegas Sands Corp.

acknowledges and agrees to be a party to the Credit Agreement

solely for purposes of Section 10.6(j) thereof

	 	 	 	 	 
	 	 	 
	 	By:  	                          /s/ Robert G. Goldstein
 	 
	 	 	Name:  	Robert G. Goldstein 	 
	 	 	Title:  	Senior Vice President 	 
	 

[Signature Page for Las Vegas Sands, LLC First Amendment to Credit and Guaranty Agreement]

 

 

GUARANTORS:

VENETIAN CASINO RESORT, LLC

VENETIAN TRANSPORT LLC

By: Las Vegas Sands, LLC,

       their Managing Member

Executing this Amendment as Senior Vice President

of the managing member of each of the foregoing

persons on behalf of and so as to bind the persons

named above under the caption “Guarantors”

	 	 	 	 	 
	 	 	 
	 	By:  	                                                                /s/ Robert G. Goldstein
 	 
	 	 	Name:  	Robert G. Goldstein 	 
	 	 	Title:  	Senior Vice President 	 
	 

[Signature Page for Las Vegas Sands, LLC First Amendment to Credit and Guaranty Agreement]

 

 

GUARANTORS:

PALAZZO CONDO TOWER, LLC

LIDO INTERMEDIATE HOLDING COMPANY, LLC

MALL INTERMEDIATE HOLDING COMPANY, LLC

VENETIAN VENTURE DEVELOPMENT, LLC

By:  Venetian Casino Resort, LLC,

       their Managing Member

By:  Las Vegas Sands, LLC,

       their Managing Member

Executing this Amendment as Senior Vice President

of the managing member of each of the

foregoing persons on behalf of and so as to bind

the persons named above under the caption “Guarantors”

	 	 	 	 	 
	 	 	 
	 	By:  	                                                                /s/ Robert G. Goldstein
 	 
	 	 	Name:  	Robert G. Goldstein 	 
	 	 	Title:  	Senior Vice President 	 
	 

[Signature Page for Las Vegas Sands, LLC First Amendment to Credit and Guaranty Agreement]

 

 

GUARANTOR:

LIDO CASINO RESORT HOLDING COMPANY, LLC

By:  Lido Intermediate Holding Company, LLC,

        its Managing Member

By:  Venetian Casino Resort, LLC,

        its Managing Member

By:  Las Vegas Sands, LLC,

        its Managing Member

Executing this Amendment as Senior Vice President

of the managing member of each of the

foregoing persons on behalf of and so as to bind

the persons named above under the caption “Guarantor”

	 	 	 	 	 
	 	 	 
	 	By:  	                                                                /s/ Robert G. Goldstein
 	 
	 	 	Name:  	Robert G. Goldstein 	 
	 	 	Title:  	Senior Vice President 	 
	 

[Signature Page for Las Vegas Sands, LLC First Amendment to Credit and Guaranty Agreement]

 

 

GUARANTOR:

PHASE II MALL HOLDING, LLC

By:  Lido Casino Resort Holding Company, LLC,

        its Managing Member

By:  Lido Intermediate Holding Company, LLC,

        its Managing Member

By:  Venetian Casino Resort, LLC,

        its Managing Member

By:  Las Vegas Sands, LLC,

        its Managing Member

Executing this Amendment as Senior Vice President

of the managing member of each of the

foregoing persons on behalf of and so as to bind

the persons named above under the caption “Guarantor”

	 	 	 	 	 
	 	 	 
	 	By:  	                                                                /s/Robert G. Goldstein
 	 
	 	 	Name:  	Robert G. Goldstein 	 
	 	 	Title:  	Senior Vice President 	 
	 

[Signature Page for Las Vegas Sands, LLC First Amendment to Credit and Guaranty Agreement]

 

 

GUARANTOR:

PHASE II MALL SUBSIDIARY, LLC

By:  Phase II Mall Holding, LLC,

        its Managing Member

By: Lido Casino Resort Holding Company, LLC,

        its Managing Member

By:  Lido Intermediate Holding Company, LLC,

        its Managing Member

By:  Venetian Casino Resort, LLC,

        its Managing Member

By:  Las Vegas Sands, LLC,

        its Managing Member

Executing this Amendment as Senior Vice President

of the managing member of each of the

foregoing persons on behalf of and so as to bind

the persons named above under the caption “Guarantor”

	 	 	 	 	 
	 	 	 
	 	By:  	                                                                /s/ Robert G. Goldstein
 	 
	 	 	Name:  	Robert G. Goldstein 	 
	 	 	Title:  	Senior Vice President 	 
	 

[Signature Page for Las Vegas Sands, LLC First Amendment to Credit and Guaranty Agreement]

 

 

	 	 	 	 	 
	 	GUARANTORS:

INTERFACE GROUP-NEVADA, INC.

 	 
	 	By:  	/s/ Bradley H. Stone
 	 
	 	 	Name:  	Bradley H. Stone 	 
	 	 	Title:  	Executive Vice President 	 
	 
	 	SANDS PENNSYLVANIA, INC.

 	 
	 	By:  	/s/ Robert G. Goldstein
 	 
	 	 	Name:  	Robert G. Goldstein 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	VENETIAN MARKETING, INC.

 	 
	 	By:  	/s/ Robert G. Goldstein
 	 
	 	 	Name:  	Robert G. Goldstein 	 
	 	 	Title:  	President 	 
	 

[Signature Page for Las Vegas Sands, LLC First Amendment to Credit and Guaranty Agreement]

 

 

	 	 	 	 	 
	 	THE BANK OF NOVA SCOTIA,

   as Administrative Agent

 	 
	 	By:  	/s/ Annabella Guo
 	 
	 	 	Name:  	Annabella Guo 	 
	 	 	Title:  	Director 	 
	 

[Signature Page for Las Vegas Sands, LLC First Amendment to Credit and Guaranty Agreement]

 

 

	 	 	 	 	 
	 	GOLDMAN SACHS LENDING PARTNERS LLC,

   as Auction Manager

 	 
	 	By:  	/s/ Alexis Maged
 	 
	 	 	Name:  	Alexis Maged 	 
	 	 	Title:  	Authorized Signatory 	 
	 

[Signature Page for Las Vegas Sands, LLC First Amendment to Credit and Guaranty Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00158-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00158-of-00352.parquet"}]]