Document:

Exhibit 4.7

 

ACKNOWLEDGMENT

 

The
undersigned hereby acknowledges that (a) it has received a copy of the
foregoing Intercreditor Agreement, dated as of April 16, 2004 (the “Intercreditor Agreement”; undefined
capitalized terms used in this Acknowledgment have the meanings assigned to
them in the Intercreditor Agreement), by and among U.S. Bank National
Association, as Trustee and Secured Party, and Wells Fargo Foothill, Inc.,
as Credit Facility Lender (as defined below), and consents thereto, and agrees
to recognize all rights granted thereby to the Parties, and will not do any act
or perform any obligation that is not in accordance with the agreements set
forth in such Intercreditor Agreement; and (b) it is not an intended
beneficiary or third party beneficiary under the Intercreditor Agreement.

 

Dated: June 30,
2005

 

 

	
   

  	
  DIAMOND JO
  WORTH HOLDINGS, LLC, as a

  
	
   

  	
  Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Natalie
  A. Schramm

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Natalie A.
  Schramm

  
	
   

  	
   

  	
  Title:

  	
  Chief
  Financial OfficerExhibit 10.2

 

BORROWER
SUPPLEMENT NO. 1

 

Reference is made to that certain Loan and Security
Agreement dated as of June 16, 2004, as amended by that certain First
Amendment to Loan and Security Agreement dated as of November 10, 2004 (as
heretofore amended and as otherwise amended, restated, supplemented or modified
from time to time, the “Loan Agreement”; capitalized terms used herein
without definition shall have the meanings ascribed thereto in the Loan
Agreement), among DIAMOND JO, LLC (formerly
known as Peninsula Gaming Company, LLC), a Delaware limited liability company (“DJL”),
THE OLD EVANGELINE DOWNS, L.L.C., a
Louisiana limited liability company (“OED, and together with DJL,
referred to hereinafter each individually as a “Borrower”, and
collectively, as “Borrowers”), Lenders signatories thereto, and WELLS FARGO FOOTHILL, INC., a California corporation, as the
arranger and agent for the Lenders (“Agent”).

 

Whereas, the undersigned (“New Borrower”) is
required to join the Loan Agreement as a Borrower and become a Borrower by
executing and delivering in favor of Agent this Borrower Supplement.  Upon the execution and delivery of this
Borrower Supplement by New Borrower, New Borrower shall become a Borrower under
the Loan Agreement with the same force and effect as if originally named as a Borrower
therein.

 

New Borrower hereby agrees as follows:

 

1.             New Borrower, by its signature
below, becomes a “Borrower” under the Loan Agreement with the same force and
effect as if originally named therein as a “Borrower,” and New Borrower hereby
agrees to all of the terms and provisions of the Loan Agreement applicable to
it as a “Borrower” thereunder.  In
furtherance of the foregoing, New Borrower agrees that New Borrower is and
shall be jointly and severally bound by, and hereby assumes, all
representations, warranties, covenants, terms, conditions, duties and waivers
applicable to a “Borrower” under the Loan Agreement and the other Loan
Documents.  Each reference to a “Borrower”
in the Loan Agreement shall be deemed to include New Borrower.  The Loan Agreement is incorporated herein by
reference.

 

2.             In
furtherance of the foregoing, New Borrower, as security for the payment and
performance in full of the Obligations, does hereby grant, assign, and pledge
to Agent, for the benefit of the Lender Group, a security interest in all
Collateral of New Borrower, and all additions thereto and replacements thereof
and all other property of New Borrower whether now or hereafter created,
acquired or reacquired, to secure the full and prompt payment of the
Obligations, including, without limitation, any interest thereon, plus
attorneys’ fees and expenses if the Obligations represented by the Loan
Agreement are collected by law, through an attorney-at-law, or under advice
therefrom.

 

 

3.             New Borrower represents and
warrants to Agent and the other members of the Lender Group that this Borrower
Supplement has been duly executed and delivered by New Borrower and constitutes
its legal, valid and binding obligation, enforceable against it in accordance
with its terms, except to the extent that the enforceability thereof may be
limited by applicable bankruptcy, insolvency, reorganization, or similar laws
affecting the enforcement of creditors’ rights generally or by general
principles of equity (regardless of whether such enforcement is considered in a
proceeding in equity or at law).

 

4.             Any signature delivered by a party
by facsimile transmission or by e-mail transmission of an adobe file format
document (also known as a PDF file) shall be deemed an original signature
hereto.

 

5.             Except as expressly supplemented
hereby, the Loan Agreement shall remain in full force and effect.

 

6.             THE VALIDITY
OF THIS BORROWER SUPPLEMENT, THE CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT
HEREOF, AND THE RIGHTS OF THE PARTIES HERETO WITH RESPECT TO ALL MATTERS
ARISING HEREUNDER OR RELATED HERETO SHALL BE DETERMINED UNDER, GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO THE CONFLICT OF LAWS PRINCIPLES THEREOF OTHER THAN SECTIONS 5-1401 AND 5-1402
OF THE NEW YORK GENERAL OBLIGATIONS LAW.

 

7.             This Borrower Supplement shall be
considered a Loan Document for all purposes.

 

[REMAINDER
OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

 

IN WITNESS WHEREOF, New Borrower has duly executed this
Borrower Supplement as of May 13, 2005.

 

	
  NEW
  BORROWER:

  	
  DIAMOND JO WORTH, LLC, a
  Delaware

  
	
   

  	
  limited
  liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Natalie A.
  Schramm

  	
   

  
	
   

  	
  Name:

  	
  Natalie A.
  Schramm

  	
   

  
	
   

  	
  Title:

  	
  Chief Financial
  Officer

  	
   

  
					

 

 

	
  CONSENTED:

  	
  THE OLD EVANGELINE DOWNS, L.L.C.,

  
	
   

  	
  a
  Louisiana limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Natalie A.
  Schramm

  	
   

  
	
   

  	
  Name:

  	
  Natalie A.
  Schramm

  	
   

  
	
   

  	
  Title:

  	
  Chief Financial
  Officer

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DIAMOND JO, LLC, a Delaware
  limited liability

  company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Natalie A. Schramm

  	
   

  
	
   

  	
  Name:

  	
  Natalie A.
  Schramm

  	
   

  
	
   

  	
  Title:

  	
  Chief Financial
  OfficerExhibit 10.4

 

STOCK PLEDGE AGREEMENT SUPPLEMENT

 

This Stock Pledge Agreement Supplement, dated as of May 13,
2005, is delivered pursuant to Section 4(a) of the Pledge
Agreement described below.  The
undersigned hereby agrees that this Pledge Agreement Supplement may be attached
to the Stock Pledge Agreement dated as of June 16, 2004 (as amended,
restated, supplemented or otherwise modified from time to time, the “Pledge
Agreement”; the terms defined therein and not otherwise defined herein are
used herein as therein defined), among each of the parties listed on the
signature pages thereto as pledgors and those additional entities that
thereafter become parties thereto as pledgors (collectively, the “Pledgors”)
and Wells Fargo Foothill, Inc., as agent for the Lenders (as defined in
the Loan Agreement) (the “Agent”), pursuant to the Loan Agreement, and
that the additional interests listed on Schedule 1(a) of this Pledge
Agreement Supplement shall be and become part of the Pledged Interests pledged
by the Pledgors to the Agent in the Pledge Agreement, and shall secure all
Secured Obligations thereunder.

 

The undersigned hereby certifies that the
representations and warranties set forth in Section 1 and Section 3
of the Pledge Agreement of the undersigned are true and correct as to the
Pledged Interests listed herein and as of the date hereof.

 

	
   

  	
  PENINSULA GAMING, LLC, a Delaware limited

  liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /a/ Natalie A. Schramm

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:

  	
  Chief Financial Officer

  	
   

  
						

 

 

SCHEDULE 1(a)

TO

STOCK PLEDGE
AGREEMENT SUPPLEMENT

 

	
  Pledgor’s

  Name

  	
   

  	
  Pledged

  Company

  	
   

  	
  Number of

  Shares/

  Membership

  Units

  	
   

  	
  Class of

  Pledged

  Interests

  	
   

  	
  Percentage of

  Class Owned

  	
   

  	
  Certificate

  No(s).

  
	
  Peninsula Gaming, LLC

  	
   

  	
  Diamond Jo Worth, LLC

  	
   

  	
  100

  	
   

  	
  Membership Units

  	
   

  	
  100%Exhibit
10.5

 

ACKNOWLEDGMENT
AND AGREEMENT

 

Diamond Jo Worth, LLC, a Delaware limited liability
company (the “Pledged Company”) hereby (i) acknowledges receipt of a
fully executed copy of the foregoing Stock Pledge Agreement, dated as of June
16, 2004, as amended by that certain First Amendment to Pledge Agreement dated
as of November 10, 2004 and as supplemented by that certain Stock Pledge
Agreement Supplement dated as of even date herewith (the “Supplement”)
(as amended, restated, supplemented or otherwise modified from time to time,
the “Agreement”; capitalized terms used herein without definition have
the meanings provided therein), made by the Pledgors in favor of Wells Fargo
Foothill, Inc., as Agent; (ii) consents and agrees to the pledge by the Pledgors
of the Pledged Collateral pursuant to the Agreement and to all of the other
terms and provisions of the Agreement; (iii) represents and warrants that it
has no knowledge, prior to giving effect to this acknowledgment, of any lien,
restriction or adverse claim of any kind to which any interests of the Pledgors
or the Agent is subject; (iv) irrevocably waives any breach or default under
the Operating Agreement as a result of the execution, delivery and performance
by the Pledgors and the Agent of the Agreement; (v) advises the Pledgors and
the Agent that a pledge of the Pledged Interests set forth on Schedule 1
to the Supplement has been registered on the books of the Pledged Company and
in the name of the Agent and agrees to so register any additional interests
pledged pursuant to the Agreement, and (vi) consents and agrees to any transfer
of the Pledged Collateral pursuant to Section 5 of the Agreement.

IN WITNESS WHEREOF, a duly authorized officer of the
undersigned has executed and delivered this Acknowledgment and Agreement this 12
day of July, 2005.

	
   

  	
  DIAMOND JO WORTH, LLC

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Natalie A. Schramm

  
	
   

  	
  Name:

  	
  Natalie A. Schramm

  
	
   

  	
  Title:

  	
  Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
  WITNESSED:

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Karen M. Beetem

  	
   

  
	
  Name:

  	
  Karen M. Beetem

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