Document:

THIRD AMENDMENT TO LOAN AND SECURITY AGREEMENT

 EXHIBIT 10.50 
  
 THIRD AMENDMENT TO LOAN AND SECURITY AGREEMENT 
  
 THIS THIRD AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Third Amendment”) is made and entered into as of
July 31, 2003, by and among Mercator Software, Inc., a Delaware corporation (“Parent”), Mercator Software Limited, a company incorporated under the laws of England and Wales (“Mercator UK,” and, collectively with
Parent, the “Borrowers”), and Wells Fargo Foothill, Inc. (formerly known as Foothill Capital Corporation), a California corporation, in its capacity as the sole Lender under the Loan Agreement referenced below and in its capacity as
the administrative agent (the “Agent”) for such sole Lender. 
  
 WITNESSETH: 
  
 WHEREAS, the Borrowers, the Lenders and the Agent are parties to that certain Loan and Security Agreement, dated as of December 24, 2002 (as amended, supplemented or modified to date, the “Loan Agreement”), among the
Borrowers, the Agent and the Lenders listed on the signature pages thereof; 
  
 WHEREAS, pursuant to Section 7.20(a)(i) of the Loan Agreement, the Borrowers are required to maintain minimum EBITDA in accordance with the amounts set forth therein (each an “Applicable
Amount”) and the time periods set forth therein (each, an “Applicable Period”); and 
  
 WHEREAS, the Borrowers, the Lenders and the Agent wish to amend the Loan Agreement by revising the Applicable Amounts for certain Applicable Periods as
herein provided; 
  
 NOW, THEREFORE, in consideration of the
agreements and provisions herein contained, the parties hereto do hereby agree as follows: 
  
 Section 1. Definitions. Any capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Agreement. 
  
 Section 2. Amendments to Loan Agreement. The Loan Agreement is hereby
amended, effective as of the date this Third Amendment becomes effective in accordance with Section 4 hereof, by amending Section 7.20(a)(i) of the Loan Agreement as follows: (a) the Applicable Amounts shall be $(10,000,000), rather than
$(8,000,000), for each of the Applicable Periods for the 7 month period ending July 31, 2003, the 8 month period ending August 31, 2003, and the 9 month period ending September 30, 2003; and (b) the Applicable Amounts shall be $(10,000,000), rather
than $(6,000,000), for each of the Applicable Periods for the 10 month period ending October 31, 2003, and the 11 month period ending November 30, 2003. 
  
 Section 3. Representations and Warranties. In order to induce the Agent and the Lenders to 

 
enter into this Third Amendment, each Borrower hereby represents and warrants that: 
  
 3.01 No Default. At and as of the date of this Third Amendment and at and as of the Effective Date: (x)
prior to giving effect to this Third Amendment, no Default or Event of Default exists and (y) after giving effect to this Third Amendment, no Default or Event of Default exists. 
  
 3.02 Representations and Warranties True and Correct. At and as of the date of this Third Amendment and
at and as of the Effective Date and both prior to and after giving effect to this Third Amendment, each of the representations and warranties contained in the Loan Agreement and the other Loan Documents is true and correct in all material respects.

  
 3.03 Corporate Power, Etc. Such Borrower
(a) has all requisite corporate power and authority to execute and deliver this Third Amendment and to consummate the transactions contemplated hereby and (b) has taken all action, corporate or otherwise, necessary to authorize the execution and
delivery of this Third Amendment and the consummation of the transactions contemplated hereby. 
  
 3.04 No Conflict. The execution, delivery and performance by such Borrower of this Third Amendment will not (a) violate any provision of federal, state, or local law or regulation applicable to
such Borrower, the Governing Documents of such Borrower, or any order, judgment, or decree of any court or other Governmental Authority binding on such Borrower, (b) conflict with, result in a breach of, or constitute (with due notice or lapse of
time or both) a default under any material contractual obligation of such Borrower, (c) result in or require the creation or imposition of any Lien of any nature whatsoever upon any properties or assets of such Borrower, other than Permitted Liens,
or (d) require any unobtained approval of such Borrower’s interestholders or any unobtained approval or consent of any Person under any material contractual obligation of such Borrower. 
  
 3.05 Binding Effect. This Third Amendment has been duly
executed and delivered by such Borrower and constitutes the legal, valid and binding obligation of such Borrower, enforceable against such Borrower in accordance with its terms, except as such enforceability may be limited by (a) applicable
bankruptcy, insolvency, reorganization, moratorium or other similar laws, now or hereafter in effect, relating to or affecting the enforcement of creditors’ rights generally, and (b) the application of general principles of equity (regardless
of whether such enforceability is considered in a proceeding in equity or at law). 
  
 Section 4. Conditions. This Third Amendment shall be effective as of July 31, 2003 (the “Effective Date”) upon the fulfillment by the Borrowers, in a manner satisfactory to the Agent and the Lenders, of
all of the following conditions precedent set forth in this Section 4: 
  
 4.01 Execution of the Third Amendment. Each of the parties hereto shall have executed and delivered an original counterpart of this Third Amendment. 
  
 4.02 Delivery of Other Documents. The Agent shall have received all such instruments, documents and
agreements as the Agent may reasonably request, in form and substance reasonably satisfactory to the Agent. 
  

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 4.03 Representations and Warranties. As of the Effective Date, the representations
and warranties set forth in Section 3 hereof shall be true and correct. 
  
 4.04 Compliance with Terms. The Borrowers shall have complied in all respects with the terms hereof and of any other agreement, document, instrument or other writing to be delivered by the Borrowers in connection
herewith. 
  
 4.05 Fee. The Borrowers shall
have paid to the Agent a fee in the amount of $25,000. 
  
 Section 5.
Miscellaneous. 
  
 5.01 Continuing
Effect. Except as specifically provided herein, the Loan Agreement and the other Loan Documents shall remain in full force and effect in accordance with their respective terms and are hereby ratified and confirmed in all respects.

  
 5.02 No Waiver. This Third Amendment is
limited as specified and the execution, delivery and effectiveness of this Third Amendment shall not operate as a modification, acceptance or waiver of any provision of the Loan Agreement or any other Loan Document, except as specifically set forth
herein. 
  
 5.03 References. 
  
 (a) From and after the Effective Date, the Loan Agreement, the other Loan
Documents and all agreements, instruments and documents executed and delivered in connection with any of the foregoing shall each be deemed amended hereby to the extent necessary, if any, to give effect to the provisions of this Third Amendment.

  
 (b) From and after the Effective Date, (i) all references in
the Loan Agreement to “this Agreement”, “hereto”, “hereof”, “hereunder” or words of like import referring to the Loan Agreement shall mean the Loan Agreement as amended hereby and (ii) all references in the
Loan Agreement, the other Loan Documents or any other agreement, instrument or document executed and delivered in connection therewith to “Loan Agreement”, “thereto”, “thereof”, “thereunder” or words of like
import referring to the Loan Agreement shall mean the Loan Agreement as amended hereby. 
  
 5.04 Governing Law. THIS THIRD AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 5.05 Severability. The provisions of this Third Amendment are severable, and if any clause or provision
shall be held invalid or unenforceable in whole or in part in any jurisdiction, then such invalidity or unenforceability shall affect only such clause or provision, or part thereof, in such jurisdiction and shall not in any manner affect such clause
or provision in any other jurisdiction, or any other clause or provision in this Third Amendment in any jurisdiction. 
  

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 5.06 Counterparts. This Third Amendment may be executed in any number of
counterparts, each of which counterparts when executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A complete set of counterparts shall be lodged with the Borrowers and the Agent.

  
 5.07 Headings. Section headings in this
Third Amendment are included herein for convenience of reference only and shall not constitute a part of this Third Amendment for any other purpose. 
  
 5.08 Binding Effect; Assignment. This Third Amendment shall be binding upon and inure to the benefit of the Borrowers, the Lenders
and the Agent and their respective successors and assigns; provided, however, that the rights and obligations of the Borrowers under this Third Amendment shall not be assigned or delegated without the prior written consent of the
Agent. 
  
 5.09 Expenses. The Borrowers agree
to pay the Agent upon demand for all reasonable expenses, including reasonable fees of attorneys and paralegals for the Agent (who may be employees of the Agent), incurred by the Agent in connection with the preparation, negotiation and execution of
this Third Amendment and any document required to be furnished herewith. 
  
 [Signature page to follow] 
  

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

	 MERCATOR SOFTWARE, INC.,
 a Delaware corporation, as Parent and Borrower,

		
	 By:
	 	 /s/ Kenneth J. Hall

	 Title:
	 	 EVP, CFO and Treasurer

	
	 MERCATOR SOFTWARE LIMITED,
 a company incorporated under the laws of England and Wales, as Borrower,

		
	 By:
	 	 /s/ Roy C. King

	 Title:
	 	 
	
	 WELLS FARGO FOOTHILL, INC.,
 a California corporation, as Agent and as Lender,

		
	 By:
	 	 /s/ Andrew T. Furlong III

	 Title:
	 	 Vice President

  

 5Amendment to Purchase Agreement with Rothbart Development dtd November 14, 2002

 Exhibit 10.3 
  
 AMENDMENT TO PURCHASE AGREEMENT 
  
 This Amendment to Purchase Agreement (this “Amendment”) is made and entered into as of this 14th day of
November, 2002, between Pinnacle Entertainment, Inc., a Delaware corporation (“Seller”), and Rothbart Development Corporation, a California corporation (“Rothbart”). 
  
 A. Seller and Rothbart entered into that certain Purchase Agreement dated as
of June 14, 2002 (the “Purchase Agreement”), relating to the sale and purchase of approximately sixty (60) acres of real property located in the City of Inglewood, County of Los Angeles, State of California, and more particularly
described in the Purchase Agreement (the “Property”). 
  
 B. Seller and Rothbart desire to amend the Purchase Agreement as set forth below and to confirm that the Purchase Agreement, as modified herein, remains in full force and effect. 
  
 NOW, THEREFORE, in consideration of the foregoing Recitals, which Recitals are incorporated herein by this reference, and
for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Rothbart agree as follows: 
  
 1. Defined Terms. Capitalized terms used herein, but not defined herein, shall have the meanings ascribed to such terms in the Purchase Agreement.

  
 2. Contingency Period. Pursuant to Section 5 of the
Purchase Agreement, Rothbart hereby approves the Property with respect to the matters identified in Section 5(a)-(e) of the Purchase Agreement, subject only to: (i) Seller fulfilling its obligations under Paragraph 3 hereof, (ii) Rothbart’s
approval, in its sole and absolute discretion, of the matters set forth in Paragraphs 4 hereof, and (iii) review of any changed matters as permitted under the final paragraph of Section 5 of the Purchase Agreement. 
  
 3. Seller’s Obligations. Seller shall satisfy the following
obligations on, or before, the Close of Escrow. Rothbart’s obligation to Close Escrow under the Purchase Agreement is conditioned upon Seller satisfying the following obligations: 
  
     a. Seller shall execute documentation reasonably requested by Fidelity National Title Company to
remove Exception No. 24 in the PTR. 
  
     b.
Seller shall provide Fidelity National Title Company (“Title Company”) with evidence that the lease referenced as Exception No. 35 in that certain Preliminary Title Report from Title Company, Order No. 19113751-C, dated July 15, 2002, as
amended (“PTR”), between Hollywood Park, Inc., and Hollywood Park Operating Company is no longer in effect; 
  
     c. Seller shall take all necessary action to remove the Deed of Trust referenced as Exception No. 38 in the PTR; 
  
     d. Seller shall provide the Title Company with all
necessary documentation to remove Exception No. 42 in the PTR; 

     e. Seller, at its cost and expense, shall abandon the Pacific Southwest Oil Well
referenced in the Phase I and Focused Phase II Site Investigation reports prepared by Alaska Petroleum Environmental Engineering, Inc. (“Environmental Reports”), and, if required by the California Division of Oil, Gas, and Geothermal
Resources (“DOGGR”), reabandon the Cassex Company Turf 3 Oil Well referenced in the Environmental Reports, in each case, pursuant to the requirements set forth by the DOGGR; and 
  
     f. Seller shall excavate and recycle the VOC-impacted
soil referenced in the Environmental Reports in compliance with the applicable requirements of South Coast Air Quality Management District Rule 1166, the applicable Preliminary Remediation Goals of the United States Environmental Protection Agency
and the applicable requirements of the Los Angeles Regional Water Quality Control Board. For purposes of this paragraph, the “VOC-impacted soil” is that soil located in the vicinity of soil boring B-29 and associated with the former
drilling mud/production oil field sump (as described in Section 1.4 of the Focused Phase II Site Investigation dated September 2002, and prepared by Alaska Petroleum Environmental Engineering, and as further described in the Remedial Cost Estimate
dated September 13, 2002 and prepared by Alaska Petroleum Environmental Engineering) that must be remediated pursuant to the aforementioned applicable requirements taking into account the development of the Property pursuant to the Wal-Mart Plan.

  
 Within ninety (90) days following Rothbart’s filing of
the Project entitlement applications and circulation of Notice of Preparation for EIR (as required pursuant to the Processing Milestones), Seller shall commence work on the foregoing obligations contained in subsections (e) and (f)
(“Seller’s Work”) and thereafter shall diligently prosecute Seller’s Work to completion subject to reasonable delays beyond Seller’s control. Seller shall provide Rothbart reasonable updates regarding Seller’s
Work and shall allow Rothbart to appoint a representative to be present during Seller’s Work on the Property. Except as expressly provided in this Paragraph 3, Seller has not agreed to remediate, repair or correct any other conditions on or
relating to the Property and the terms and conditions of Section 16A remain in full force and effect. 
  
 4. Rothbart’s Review. The Contingency Date shall be extended until December 15, 2002, solely as to those matters set forth below, which are
further referenced in the PTR and the ALTA Survey dated August 21, 2002, prepared by HMK Engineering, Inc. (the “HMK Survey”). Rothbart, at its sole cost and expense, shall have until December 15, 2002, to review and approve or
disapprove such matters in its sole and absolute discretion. On or prior to December 15, 2002, Rothbart shall, by written notice to Seller, either (i) terminate the Purchase Agreement based upon Rothbart’s dissatisfaction in resolving such
matters, or (ii) approve the Property as to those matters. Rothbart’s failure to provide such written notice shall be conclusively deemed to be a disapproval thereof by Rothbart and the Purchase Agreement shall terminate. 
  

	 Item

	  	 Action

	 PTR Exceptions 9, 18, 20 and 31
	  	According to Rothbart, the City has indicated a willingness to vacate and quitclaim each of these easements. Rothbart will work diligently with the City to process the quitclaims
and record them in the Official Records of the County and shall provide Seller with periodic status reports.

  

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	 PTR Exceptions 33 and 34
	  	According to Rothbart, the City has indicated a willingness to modify these easements to downsize the area burdened by these easements. Rothbart will work diligently with the City
to process the easement modifications and shall provide Seller with periodic status reports.
		
	 PTR Exception 12
	  	According to Rothbart, CDCC has indicated a willingness to relocate the pole line existing in favor of Southern California Edison Company. Rothbart will work diligently with CDCC
to process the relocation and shall provide Seller with periodic status reports.
		
	 Survey Matters
	  	According to Rothbart, the HMK Survey discloses the existence of certain lights, power poles and other utilities and related equipment that Rothbart understands service the
adjacent property owned by CDCC. Rothbart will work diligently with CDCC to enter into a mutually satisfactory agreement for disconnection and/or relocation of all objectionable utilities and related equipment and shall provide Seller with periodic
status reports.

  
 5. Deposit
Non-Refundable. 
  
     a. Pursuant to
Section 2(b) of the Purchase Agreement, Rothbart is required to make the Additional Deposit to Escrow in the amount of Three Hundred Twenty-Five Thousand Dollars ($325,000) within five (5) days of the expiration of the Contingency Date. This
Additional Deposit has not been made as of the date hereof. This Amendment is contingent upon the receipt by Escrow of the Additional Deposit (or the allocation of the Additional Deposit to the Letter of Credit as permitted under Section 2(b) of the
Purchase Agreement) within two (2) business days following execution of this Amendment. If Rothbart fails to so deposit the Additional Deposit within the specified time period, the Purchase Agreement shall automatically terminate. 
  
     b. This Amendment, including, without limitation,
Paragraphs 4 and 5(a), shall in no way amend Section 2(e) of the Purchase Agreement. Pursuant to Section 2(e) of the Purchase Agreement, one fourth of the sum of (a) the Initial Deposit and (b) the Additional Deposit (i.e. (a) + (b) = $87,500) was
automatically earned by Seller, and became nonrefundable to Rothbart, as of September 17, 2002, such sum being the aggregate “Non-Refundable Deposit” to date, as defined in Section 2(e). Notwithstanding the foregoing, it is acknowledged
and agreed that, pursuant to Section 2(e) of the Purchase Agreement, the Non-Refundable Deposit, or portion thereof as provided in Section 2(e), may be refundable to Rothbart under certain circumstances, including, without limitation, Seller’s
default, Rothbart’s failure to obtain Final Approval, a change in the condition of title or physical condition of the Property, or because the Property is subject to a condemnation proceeding. 
  
     6. Big Box Ordinance. Rothbart acknowledges
that Seller, in its sole and absolute discretion may elect to challenge, by litigation or otherwise, Ordinance No. 02-30 
  

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 passed by the City Council of the City of Inglewood on October 22, 2002 (the “Big Box Ordinance”) and
any amendments or successor ordinances thereto. In no event shall the passage of the Big Box Ordinance or Seller’s activities in connection therewith, including any potential challenge thereof, constitute a breach by Seller of any of the
representations or warranties set forth in the Purchase Agreement. Seller acknowledges that Rothbart and/or Wal-Mart and/or Sam’s Club may independently challenge the Big Box Ordinance. Seller and Rothbart agree that neither party shall have
any obligation to the other party to participate in that party’s challenge of the Big Box Ordinance. 
  
 7. Relationship to the Purchase Agreement. This Amendment supercedes any inconsistent provisions contained in the Purchase Agreement. Except as
amended hereby, the Purchase Agreement, including, without limitation, the Contingency Milestones and time periods set forth on the Contingency Schedule, is in full force and effect. 
  
 8. Successors. Section 24 of the Purchase Agreement is hereby amended by adding the following after the second
sentence: 
  
 “Notwithstanding the foregoing, Seller may
assign this Agreement in connection with the transfer of the Property to any corporation, partnership, limited liability company or other entity which controls, is controlled by or is under common control with Seller. Effective as of the date of
such transfer, Seller shall be automatically relieved of any obligations and liabilities under this Agreement, provided the assignee assumes all of Seller’s obligations under this Agreement. Seller will provide Buyer with prompt notice of the
transfer and, upon written request, a copy of the transfer documentation.” 
  
 9. Counterparts. This Amendment may be executed in counterparts, which, when taken together shall be one and the same instrument. 
  
 [SIGNATURES FOLLOW – NEXT PAGE] 
  

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 IN WITNESS WHEREOF, this Amendment has been executed as of the date first above written. 
  

	 PINNACLE ENTERTAINMENT, INC.,
 a Delaware corporation
	 	 	 	 ROTHBART DEVELOPMENT
 CORPORATION,
 a California corporation

					
	By:	 	 /s/    JOHN A.
GODFREY        

	 	 	 	By:	 	 /s/    STANLEY G.
ROTHBART        

	Its:	 	 Sr. V.P., Secretary and General Counsel

	 	 	 	Its:	 	 President

  

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