Document:

Exhibit 10.1

 

 

 

 

 

AMENDMENT
NO. 1 TO AGREEMENT AND PLAN OF MERGER

 

Amendment No.1, dated as
of February 24, 2003 (this “Amendment”) to the Agreement and Plan of Merger
(the “Agreement”) entered into as of December 23, 2002, by and among MTR
Gaming Group, Inc., a Delaware corporation (“Parent”), Racing Acquisition,
Inc., an Ohio corporation and wholly owned subsidiary of Parent (“Merger
Subsidiary”), and Scioto Downs, Inc., an Ohio corporation (the “Company”).
Parent, Merger Subsidiary and the Company are referred to collectively herein
as (the “Parties”).

 

RECITALS

 

                WHEREAS, Section 5.04 of the Agreement provides that
the Parent shall have a period of thirty days to determine the suitability of
the transactions contemplated therein in its sole and absolute discretion (the
“Due Diligence Period”) and further provides that the Parent shall be entitled
to reasonable extensions of the Due Diligence Period (not to exceed an
aggregate of thirty days) to the extent necessary for third parties to complete
their studies or inspections.

 

                WHEREAS, the Parties would like to further extend the
Due Diligence Period to facilitate the resolution of certain matters relating
to the studies and inspections being made by the Company.

 

                WHEREAS, as described herein, the Parties would like
to make certain other amendments to the Agreement.

 

                NOW, THEREFORE, in consideration of the foregoing and
the representations, warranties, covenants and agreements as set forth herein,
and other good and valuable consideration, the receipt and sufficiency of which
are acknowledged, the parties, intending to be legally bound, hereby agree as
follows:

 

1.             Incorporation.  The
recitals set forth above are incorporated herein as though more fully set
forth.  And, unless otherwise provided,
all defined terms shall have the meaning ascribed in the Agreement.

 

2.             Section 5.04.  The
Due Diligence Period shall be extended from February 24, 2003  up to and including March 11, 2003.

 

3.             Section 6.03.  The
following provision shall be added as Section 6.03(e):

 

“(e)         one of the following shall have
occurred:  (i) the participation of Mara
Enterprises, Inc. (“Mara”) in the multiple-employer pension plan which the
Company sponsors (the “Pension Plan”) shall have been separated in a manner
such that the Company shall neither be jointly and severally liable, nor be
contingently liable, with respect to any funded status deficit attributable to
Mara or (ii) in the event Scioto shall have submitted to all governmental
authorities having jurisdiction over the Pension Plan all filings required to
initiate the separation of the Pension Plan but shall be unable to effect such
separation due to the absence of decision by 

 

1

 

those entities having jurisdiction over such
separation, then Mara shall escrow amounts sufficient to effect a separation.
To effect such an escrow, Mara shall contemporaneously with the Closing deposit
with a licensed and bonded trust company to hold in escrow for the protection
of the Parent an amount equal to the funded status deficit attributable to Mara
together with an amount equal to two (2) times Mara’s pro rata share of
administrative costs and Mara’s ongoing funding obligations (all of which may
be estimated) for the next twelve (12) months together with the entry into an
agreement by Mara with Parent whereby Mara shall indemnify and hold Parent
harmless against any and all liability arising from any funded status deficit
attributable to Mara.  For purposes of
this Amendment, the “funded status deficit” attributable to Mara shall mean the
excess of the projected benefit obligation attributable to Mara over the fair
value of the plan assets allocable to Mara.”

 

4.             Entire Agreement. 
Except as expressly amended or modified by the terms of this Amendment,
the Agreement shall remain unmodified and in full force and effect.

 

IN
WITNESS WHEREOF, the parties hereto have duly executed this Amendment, or have
caused this Amendment to be duly executed with legal and binding effect by
their respective authorized officers, in their individual capacity, as of the
date first written above.

 

	
   

  	
   

  	
  SCIOTO DOWNS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  by:

  	
  /s/
  Edward T. Ryan

  
	
   

  	
  Name:

  	
  Edward
  T. Ryan

  
	
   

  	
  Title:
  

  	
  President

  

 

 

	
   

  	
   

  	
  MTR GAMING GROUP, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  by:

  	
  /s/
  Edson R. Arneault

  
	
   

  	
  Name:

  	
  Edson
  R. Arneault

  
	
   

  	
  Title:
  

  	
  President
  and Chief Executive Officer

  

 

 

	
   

  	
   

  	
  RACING ACQUISITION, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  by:

  	
  /s/
  Edson R. Arneault

  
	
   

  	
  Name:

  	
  Edson
  R. Arneault

  
	
   

  	
  Title:
  

  	
  President

  

 

 

2Exhibit 4.1

EXECUTION 

 

 

 

 

 

 

FOURTH
SUPPLEMENTAL INDENTURE OF TRUST

 

 

among

 

 

NASH-FINCH
COMPANY,

as
Issuer,

 

 

THE
SUBSIDIARY GUARANTORS,

named
therein as Guarantors,

 

 

and

 

 

U.S.
BANK NATIONAL ASSOCIATION,

as
Trustee,

 

 

Dated
as of February 25, 2003

 

 

 

 

 

Relating
to:

 

$165,000,000

8
1/2% Senior Subordinated Notes due 2008, Series A

8
1/2% Senior Subordinated Notes due 2008, Series B

 

1

 

THIS
FOURTH SUPPLEMENTAL INDENTURE OF TRUST is made and entered into as of February
25, 2003 among Nash-Finch Company, a Delaware corporation (the “Company”),
the Guarantors named herein (the “Guarantors”), as guarantors, and U.S.
Bank Trust National Association, as trustee (the “Trustee”).

 

RECITALS

 

WHEREAS,
the Company and the Guarantors heretofore executed and delivered to the Trustee
an Indenture dated as of April 24, 1998 (the “ Original Indenture”),
providing for the issuance of up to $165,000,000 aggregate principal amount of
the Company’s 8 1⁄2 % Senior Subordinated Notes Due 2008, Series A and Series B
(the “Notes”), as supplemented by the First, Second and Third
Supplemental Indentures thereto (the Original Indenture, as amended and
supplemented from time to time as described herein, the “Indenture);

 

WHEREAS,
the Notes constitute the only series of Notes under the Indenture;

 

WHEREAS,
Section 9.02 of the Indenture provides, among other things, that, the Indenture
may be amended and modified by the Company, the Guarantors and the Trustee with
the consent of the holders of not less than a majority of the aggregate
principal amount of the outstanding Notes;

 

WHEREAS,
the Company and the Guarantors have each duly executed this Fourth Supplemental
Indenture;

 

WHEREAS,
the Company desires and has requested the Trustee to join in the execution and
delivery of this Fourth Supplemental Indenture for the purpose of amending the
Indenture; and

 

WHEREAS,
all things necessary have been done to constitute this Fourth Supplemental
Indenture, when executed by the Company and the Guarantors, the respective
valid obligations of each of them.

 

NOW
THEREFORE, the parties hereto intending to be legally bound hereby and in
consideration of the premises, do hereby agree, for the mutual and
proportionate benefit of all holders of the Notes as follows:

 

	
  Section 1.

  	
  DEFINITIONS.

  

 

 

                    All terms capitalized but
not otherwise defined in this Fourth Supplemental Indenture shall have the
meanings assigned to such terms in the Indenture.

 

	
  Section 2.

  	
  AMENDMENTS TO THE INDENTURE.

  

 

                    Section 201.                   Amendment to Section 7.04
of the Indenture.  Section 7.04 of
the Indenture is hereby amended and supplemented by adding the following as a
new paragraph to the end thereof:

 

2

 

                    “Notwithstanding anything to
the contrary contained in this Section 7.04, the Company and each Guarantor
shall not be required to comply with Sections 7.04(a) and 7.04(b) hereof with
respect to (x) the fiscal quarter ended October 5, 2002 before May 15, 2003 and
(y) the fiscal year ended December 28, 2002 and the fiscal quarter ended March
22, 2003 before June 15, 2003.  Failure
to comply with Sections 7.04(a) and (b) hereof with respect to (x) the fiscal
quarter ended October 5, 2002 by May 15, 2003 and (y) the fiscal year ended
December 28, 2002 and the fiscal quarter ended March 22, 2003 by June 15, 2003,
shall, in each case, constitute an Event of Default hereunder.

 

                    Section 202.                   Amendment to Section 10.08
of the Indenture.  Section 10.08 of
the Indenture is hereby amended and supplemented by adding the following to the
end thereof:

 

                    “provided, however
that the Company shall not be deemed to have violated this Section 10.08 if the
Company is required to restate its books and records of account for any period
through the fiscal quarter ended October 5, 2002 as a result of any
investigation or pending action of the Commission publicly disclosed by the
Company on or before the date hereof and providedfurther, however
that any such restatement will not have a material cash impact on the Company’s
financial statements filed with the Commission from and after the date hereof
and that the amount of any Count-Recount charges required to be taken by the
Company as a result of any such restatement of fiscal years 2000, 2001 and 2002
will not exceed $6.7 million for fiscal year 2000, $8.6 million for fiscal year
2001 and $3.8 million through the second quarter of fiscal year 2002 by more
than 15%.”

 

                    Section 203.                   Amendment to Section 10.10
of the Indenture.  Section 10.10 of
the Indenture is hereby amended and supplemented by adding the following as a
new paragraph to the end thereof:

 

                    “Notwithstanding anything to
the contrary contained in this Section 10.10, the Company shall not be required
to comply with this Section 10.10 with respect to (x) the fiscal quarter ended
October 5, 2002 before May 15, 2003 and (y) the fiscal year ended December 28,
2002 and the fiscal quarter ended March 22, 2003 before June 15, 2003.”

 

                    Section 204.                   Amendment to Section 10.13
of the Indenture.  Section 10.13 of
the Indenture is hereby amended and supplemented by adding the following to the
beginning of the second sentence thereof:

 

                    “Except for any Default
occurring prior to February 25, 2003 for failure of the Company to comply with
Sections 7.04(a), (b) or (c) hereof with respect to the fiscal quarter ending
October 5, 2002, [W]”

 

                    Section 205.                   Delayed Effectiveness of
Amendments.  The amendments to the
Indenture provided for in this Section 2 shall not become effective until the
Company shall have received an effective waiver from the provisions of Section
9.12(ii) of the Credit Agreement, dated as of December 19, 2000, among the
Company, the Guarantors, U.S. Bank National Association and Harris Trust and
Savings Bank, as syndication agents, General Electric Capital

 

3

 

Corporation,
as documentation agent, and Bankers Trust Company, as administrative agent for
the lenders party thereto (as heretofore amended, restated, supplemented or
otherwise modified).

 

Section 3   MISCELLANEOUS
PROVISIONS.

 

Section 301.            
Execution as Supplemental Indenture.  This Fourth Supplemental Indenture is executed and shall be
construed as an indenture supplemental to the Indenture and, as provided in the
Indenture, this Fourth Supplemental Indenture forms a part thereof.

Section 302.            
Responsibility for Recitals, etc. The recitals herein shall be
taken as the statements of the Company, and the Trustee assumes no
responsibility for the correctness thereof. 
The Trustee makes no representations as to the validity or sufficiency
of this Fourth Supplemental Indenture.

Section 303.            
Provisions Binding on Company’s and the Guarantors’ Successors.
All of the covenants, stipulations, promises and agreements made in this Fourth
Supplemental Indenture by the Company and the Guarantors shall bind on their
respective successors and assigns whether so expressed or not.

 

Section 304.            
Governing Law.  This
Fourth Supplemental Indenture shall be deemed to be a contract made under the
laws of the State of New York and, for all purposes, shall be construed in
accordance with the laws of said State.

 

Section 305.            
Execution and Counterparts. 
This Fourth Supplemental Indenture may be executed in any number of
counterparts, each of which shall be an original, but such counterparts shall
together constitute but one and the same instrument.

 

Section 306.            
Trust Indenture Act to Control. 
If and to the extent that any provision of this Fourth Supplemental
Indenture limits, qualifies, or conflicts with another provision included in
the Indenture which is required to be included in or is deemed to be applicable
to this Fourth Supplemental Indenture by any of Sections 310 to 317, inclusive,
of the Trustee Indenture Act of 1939, such required or other applicable
provision shall control.

 

[Signature
page follows on the next page]

4

 

IN WITNESS WHEREOF, the
parties hereto have caused this Fourth Supplemental Indenture to be executed as
of the day and year first above written.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  NASH-FINCH COMPANY

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Robert B. Dimond

  
	
   

  	
  Name:  

  	
   

  	
  Robert B. Dimond

  
	
   

  	
  Title:

  	
   

  	
  Executive Vice President & Chief

  
	
   

  	
   

  	
   

  	
  Financial Officer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  GUARANTORS:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  T.J. MORRIS COMPANY

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Robert B. Dimond

  
	
   

  	
  Name:  

  	
   

  	
  Robert B. Dimond

  
	
   

  	
  Title:

  	
   

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SUPER FOOD SERVICES, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Robert B. Dimond

  
	
   

  	
  Name:  

  	
   

  	
  Robert B. Dimond

  
	
   

  	
  Title:

  	
   

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  GTL TRUCK LINES, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Robert B. Dimond

  
	
   

  	
  Name:  

  	
   

  	
  Robert B. Dimond

  
	
   

  	
  Title:

  	
   

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  PIGGLY WIGGLY NORTHLAND

  CORPORATION

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Robert B. Dimond

  
	
   

  	
  Name:  

  	
   

  	
  Robert B. Dimond

  
	
   

  	
  Title:

  	
   

  	
  Vice President

  
						

 

5

 

	
   

  	
  ERICKSON’S DIVERSIFIED

  CORPORATION

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Robert B. Dimond

  
	
   

  	
  Name:  

  	
   

  	
  Robert B. Dimond

  
	
   

  	
  Title:

  	
   

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  HINKY DINKY SUPERMARKETS, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Robert B. Dimond

  
	
   

  	
  Name:  

  	
   

  	
  Robert B. Dimond

  
	
   

  	
  Title:

  	
   

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  U SAVE FOODS, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Robert B. Dimond

  
	
   

  	
  Name:  

  	
   

  	
  Robert B. Dimond

  
	
   

  	
  Title:

  	
   

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  TRUSTEE:

  
	
   

  	
   

  
	
   

  	
  U.S. BANK NATIONAL ASSOCIATION,

  as Trustee, formerly known as U.S. Bank Trust National Association

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Scott Strodthoff

  
	
   

  	
  Name:  

  	
   

  	
  Scott Strodthoff

  
	
   

  	
  Title:

  	
   

  	
  Senior Vice President

  
						

 

6

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