Document:

<PAGE>

                                                                     EXHIBIT 4.3

                         SECOND SUPPLEMENTAL INDENTURE

          This SECOND SUPPLEMENTAL INDENTURE (this "Second Supplemental
Indenture") is dated as of February 2, 2001 between Coast Hotels and Casinos,
Inc., a Nevada corporation (the "Company"), Coast Resorts, Inc., a Nevada
corporation (the "Guarantor") and Firstar Bank N.A. (formerly known as Firstar
Bank of Minnesota, N.A.), as trustee (the "Trustee") under the Indenture (as
hereinafter defined).

                                    RECITALS
                                    --------

          A.  The Company and the Guarantor have heretofore executed and
delivered to the Trustee (1) a certain Indenture dated as of March 23, 1999 (the
"Indenture"), providing for the issuance of the Company's 9- 1/2% Senior
Subordinated Notes due April 1, 2009 and (2) a First Supplemental Indenture
dated as of November 20, 2000 (the "First Supplemental Indenture").  All terms
used in this Second Supplemental Indenture which are defined in the Indenture,
as modified by the First Supplemental Indenture shall have the same meanings as
assigned to them therein.

          B.  The Company and the Guarantor have authorized the issuance of (i)
an additional $50,000,000 of Company's Series A 9- 1/2% Senior Subordinated
Notes due April 1, 2009 (the "Additional Series A Notes") and (ii) an additional
$50,000,000 of Company's Series B 9  1/2% Senior Subordinated Notes due April 1,
2009 to be issued as Exchange Notes solely in exchange for Series A Notes if and
when an Exchange Offer is consummated (the "Additional Series B Notes" or,
together with the Additional Series A Notes, the "First Additional Notes").

          C.  Pursuant to Section 9.01(g) of the Indenture, a supplemental
indenture may be entered into by the Company, the Guarantor and the Trustee
without the consent of any of the Holders of Notes to issue Additional Notes.

          D.  The Company and the Guarantor desire to issue the Additional
Series A Notes in accordance with Section 2.02 and Article 4 of the Indenture
and the Additional Series B Notes in accordance with Sections 2.02 and 2.06(f)
of the Indenture, in each case in the form set forth herein.

          E.  All things necessary to make this Second Supplemental Indenture
when executed by the parties hereto a valid and binding amendment of and
supplement to the Indenture have been done and performed.

                                   AGREEMENT
                                   ---------

          NOW, THEREFORE, for and in consideration of the premises and for other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto do hereby mutually covenant and agree as
follows:

          SECTION 1.  First Additional Notes.
                      ----------------------

                                       1
<PAGE>

          (a) $50,000,000 aggregate principal amount of Additional Series A
Notes shall be issued hereunder on the date hereof.  The Additional Series A
Notes shall constitute Additional Notes as that term is defined and used in the
Indenture.

          (b) Upon the consummation of the Exchange Offer with respect to the
Additional Series A Notes, the Additional Series B Notes shall be issued
pursuant to Section 2.06(f) of the Indenture solely in exchange for Additional
Series A Notes to be cancelled.  The Additional Series B Notes shall constitute
Additional Notes as that term is defined and used in the Indenture.

          SECTION 2.  Form of Note.  Pursuant to Sections 9.01(b) and 9.01(g) of
                      ------------
the Indenture, the Form of Note set forth in Exhibit A to the Indenture is
hereby amended to read as is set forth in Exhibit A hereto.

          SECTION 3.  Severability.  In case any provision in this Second
                      ------------
Supplemental Indenture shall be invalid, illegal or unenforceable, the validity,
legality, and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby.

          SECTION 4.  No Third Party Beneficiaries.  Nothing in this Second
                      ----------------------------
Supplemental Indenture, express or implied, shall give to any Person other than
the parties hereto and their successors under the Indenture, the holders of the
Senior Indebtedness and the Holders of the Notes, any benefit or any legal or
equitable right, remedy or claim under the Indenture.

          SECTION 5.  Effect of Second Supplemental Indenture.  This Second
                      ---------------------------------------
Supplemental Indenture supplements the Indenture and shall be a part and subject
to all the terms thereof.  Except as supplemented hereby, the Indenture shall
continue in full force and effect.

          SECTION 6.  Governing Law.  This Second Supplemental Indenture shall
                      -------------
be governed by and construed in accordance with the laws of the State of New
York.

          SECTION 7.  Counterparts.  This Second Supplemental Indenture may be
                      ------------
executed in any number of counterparts, each of which so executed shall be
deemed to be an original, but all such counterparts shall together constitute
but one and the same instrument.

        [The remainder of this page has been intentionally left blank.]

                                       2
<PAGE>

          IN WITNESS WHEREOF, the parties hereto have caused this Second
Supplemental Indenture to be duly executed and their respective corporate seals,
if any, to be hereunto affixed and attested, all as of the day and year second
above written.

                              COAST HOTELS AND CASINOS, INC.

                              By:_________________________
                              Name:
                              Title:

                              COAST RESORTS, INC.

                              By:_________________________
                              Name:
                              Title:

                              FIRSTAR BANK N.A.

                              By:_________________________
                              Name:
                              Title:

                                       3
<PAGE>

                                   Exhibit A
                                   ---------

                                [Face of Note]
-------------------------------------------------------------------------------
                                                            CUSIP No.:[  (144A)]

                                                                      [(Reg. S)]

                                                                      [  (ISIN)]

                   9 1/2% Senior Subordinated Notes due 2009

No. ___                                                                   $_____

COAST HOTELS AND CASINOS, INC. promises to pay to ________________________ or
registered assigns, the principal sum of________ Dollars on April 1, 2009.

Interest Payment Dates:  April 1 and October 1
Record Dates:  March 15 and September 15
Dated:  [Date of Issuance]

                                 COAST HOTELS AND CASINOS, INC.

                                 By:______________________________
                                    Name:
                                    Title:

                                                                          (SEAL)

          This is one of the [Global] Notes referred to
          in the within-mentioned Indenture:

          FIRSTAR BANK OF MINNESOTA, N.A.,
           as Trustee

          By:  _________________________________
             Authorized Signatory

--------------------------------------------------------------------------------

                                      A-1
<PAGE>

                                [Back of Note]

                   9 1/2% Senior Subordinated Notes due 2009

          [THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE
INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE
BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY
CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY
BE REQUIRED PURSUANT TO SECTION 2.07 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY
BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE
INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR
CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE
MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF
COAST HOTELS AND CASINOS, INC.]/1/

          [THIS NOTE HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF
1933, AS AMENDED (THE "SECURITIES ACT"), AND ACCORDINGLY, MAY NOT BE OFFERED OR
SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S.
PERSONS EXCEPT AS SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION
HEREOF, THE HOLDER (1) REPRESENTS THAT (A) IT IS A "QUALIFIED INSTITUTIONAL
BUYER" (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) OR (B) IT IS NOT A
U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN OFFSHORE TRANSACTION IN COMPLIANCE
WITH REGULATION S UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL NOT, WITHIN
TWO YEARS AFTER THE ORIGINAL ISSUANCE OF THE NOTES, RESELL OR OTHERWISE TRANSFER
THIS NOTE EXCEPT (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) TO A
QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES
ACT, (C) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH
RULE 904 UNDER THE SECURITIES ACT, (D) PURSUANT TO THE EXEMPTION FROM
REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), (E)
INSIDE THE UNITED STATES TO AN INSTITUTIONAL ACCREDITED INVESTOR THAT, PRIOR TO
SUCH TRANSFER, FURNISHES TO THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN
REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS ON TRANSFER OF THIS
NOTE (THE FORM OF WHICH LETTER CAN BE OBTAINED FROM THE TRUSTEE) AND IF SUCH
TRANSFER IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF NOTES OF LESS THAN

                              ___________________

/1/ This legend should be included on the Global Notes and omitted from
Definitive Notes.

                                       2
<PAGE>

$100,000, AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY THAT SUCH TRANSFER IS
IN COMPLIANCE WITH THE SECURITIES ACT, OR (F) PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT, AND (3) AGREES THAT IT WILL
DELIVER TO EACH PERSON TO WHOM THIS NOTE IS TRANSFERRED A NOTICE SUBSTANTIALLY
TO THE EFFECT OF THIS LEGEND. IN CONNECTION WITH ANY TRANSFER OF THIS NOTE
WITHIN TWO YEARS AFTER THE ORIGINAL ISSUANCE OF THE NOTES, THE HOLDER MUST CHECK
THE APPROPRIATE BOX SET FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF
SUCH TRANSFER AND SUBMIT THIS CERTIFICATE TO THE TRUSTEE. IF THE PROPOSED
TRANSFEREE IS AN INSTITUTIONAL ACCREDITED INVESTOR, THE HOLDER MUST, PRIOR TO
SUCH TRANSFER, FURNISH TO THE TRUSTEE AND THE COMPANY SUCH CERTIFICATIONS, LEGAL
OPINIONS, OR OTHER INFORMATION AS EITHER OF THEM MAY REASONABLY REQUIRE TO
CONFIRM THAT SUCH TRANSFER IS BEING MADE PURSUANT TO AN EXEMPTION FROM, OR IN A
TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.
AS USED HEREIN, THE TERMS "OFFSHORE TRANSACTION," "UNITED STATES," AND "U.S.
PERSON" HAVE THE MEANINGS GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES
ACT. THE INDENTURE CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO
REGISTER ANY TRANSFER OF THIS NOTE IN VIOLATION OF THE FOREGOING
RESTRICTIONS.]/2/

          Capitalized terms used herein shall have the meanings assigned to them
in the Indenture referred to below unless otherwise indicated.

          1.  Interest.  Coast Hotels and Casinos, Inc., a Nevada corporation
(the "Company"), promises to pay interest on the principal amount of this Note
at 9 1/2% per annum from March 23, 1999, or in the case of the First Additional
Notes (as defined below) October 2, 2000, until maturity and shall pay the
Additional Interest payable pursuant to Section 2(d) of the Registration Rights
Agreement referred to below. The Company will pay interest and Additional
Interest semi-annually in arrears on April 1 and October 1 of each year, or if
any such day is not a Business Day, on the next succeeding Business Day (each an
"Interest Payment Date"). Interest on the Notes will accrue from the most recent
date to which interest has been paid or, if no interest has been paid, from the
date of issuance; provided that if there is no existing Default in the payment
of interest, and if this Note is authenticated between a record date referred to
on the face hereof and the next succeeding Interest Payment Date, interest shall
accrue from such next succeeding Interest Payment Date; provided, further, that
the first Interest Payment Date shall be October 1, 1999, or in the case of the
First Additional Notes, April 1, 2001. The Company shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue

                               _________________

/2/ This legend should be included on the Restricted Global Notes and Restricted
Definitive Notes and omitted from Unrestricted Global Notes and Unrestricted
Definitive Notes.

                                      A-3
<PAGE>

principal and premium, if any, from time to time on demand at the rate then in
effect; it shall pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue installments of interest and
Additional Interest (without regard to any applicable grace periods) from time
to time on demand at the same rate to the extent lawful. Interest will be
computed on the basis of a 360-day year of twelve 30-day months.

          2.   Method of Payment. The Company will pay interest on the Notes
(except defaulted interest) and Additional Interest to the Persons who are
registered Holders of Notes at the close of business on the March 15 or
September 15 next preceding the Interest Payment Date, even if such Notes are
canceled after such record date and on or before such Interest Payment Date,
except as provided in Section 2.12 of the Indenture with respect to defaulted
interest. The Notes will be payable as to principal, premium and Additional
Interest, if any, and interest at the office or agency of the Company maintained
for such purpose within or without the City and State of New York, or, at the
option of the Company, payment of interest and Additional Interest may be made
by check mailed to the Holders at their addresses set forth in the register of
Holders, and provided that payment by wire transfer of immediately available
funds will be required with respect to principal of and interest, premium and
Additional Interest on, all Global Notes and all other Notes the Holders of
which shall have provided wire transfer instructions to the Company or the
Paying Agent. Such payment shall be in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of
public and private debts.

          3.   Paying Agent and Registrar. Initially, Firstar Bank, N.A.
(formerly Firstar Bank of Minnesota, N.A.), the Trustee under the Indenture (as
defined below), will act as Paying Agent and Registrar. The Company may change
any Paying Agent or Registrar without notice to any Holder. The Company or any
of its Subsidiaries may act in any such capacity.

          4.   Indenture. The Company issued the Notes under an Indenture dated
as of March 23, 1999 between the Company, Coast Resorts, Inc. (the "Guarantor")
and the Trustee, as modified by a First Supplemental Indenture dated as of
November 20, 2000 and a Second Supplemental Indenture dated as of February 2,
2001 (collectively, "Indenture"). The terms of the Notes include those stated in
the Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939, as amended (15 U.S. Code (S)(S) 77aaa-77bbbb). The Notes
are subject to all such terms, and Holders are referred to the Indenture and
such Act for a statement of such terms. To the extent any provision of this Note
conflicts with the express provisions of the Indenture, the provisions of the
indenture shall govern and be controlling. The Notes are obligations of the
Company consisting of the Initial Notes in an aggregate principal amount of
$175.0 million, Additional Notes in an aggregate principal amount of $50.0
million (the "First Additional Notes") and the aggregate principal amount of
other Additional Notes issued in accordance with the Indenture.

          5.   Optional Redemption.

          (a)  Except as set forth in subparagraph (b) of this Paragraph 5, the
Company shall not have the option to redeem the Notes pursuant to this Paragraph
5 prior to April 1, 2004.  Thereafter, the Company shall have the option to
redeem the Notes, in whole

                                      A-4
<PAGE>

or in part, at the redemption prices (expressed as percentages of principal
amount) set forth below plus accrued and unpaid interest and Additional Interest
thereon, if any, to the applicable redemption date, if redeemed during the
twelve-month period beginning on April 1 of the years indicated below:

                      Year                          Percentage

     2004......................................     104.750%

     2005......................................     103.167%

     2006......................................     101.583%

     2007 and thereafter.......................     100.000%

          (b)  Notwithstanding the provisions of subparagraph (a) of this
Paragraph 5, at any time prior to April 1, 2002, the Company may on any one or
more occasions redeem up to 35% of the aggregate principal amount of Notes
issued under the Indenture with the Net Cash Proceeds to the Company of one or
more Public Equity Offerings or the capital contributions to the Company by
Coast Resorts with the Net Cash Proceeds to Coast Resorts of one or more Public
Equity Offerings at a redemption price equal to 109.500% of the aggregate
principal amount thereof plus accrued and unpaid interest and Additional
Interest, if any, to the redemption date; provided that at least $113.75 million
in aggregate principal amount of Notes remains outstanding immediately after the
occurrence of such redemption (excluding Notes held by the Company and its
Subsidiaries) and provided further, that such redemption occurs within 45 days
of the date of the closing of such Public Equity Offering.

          6.   Gaming Redemption.

          (a)  Notwithstanding the provisions of paragraph 5(a), if any Gaming
Authority notifies a holder or beneficial owner of Notes that: (1) the holder or
beneficial owner must obtain a license, qualification or finding of suitability
under an applicable gaming law and the holder or beneficial owner does not apply
for such license, qualification or finding of suitability within 30 days (or
such shorter period required by the Gaming Authority); or (2) the holder or
beneficial owner will not be licensed, qualified or found suitable under an
applicable gaming law; then the Company shall have the right, at its option, (1)
to require that the holder or beneficial owner dispose of the holder's or
beneficial owner's Notes within 30 days (or such earlier date as required by the
Gaming Authority) of (A) the termination of the 30 day period described above
for the holder or beneficial owner to apply for a license, qualification or
finding of suitability or (B) the receipt of the notice from the Gaming
Authority that the holder or beneficial owner will not be licensed, qualified or
found suitable; or (2) to redeem the holder's or beneficial owner's Notes at a
price equal to 100% of the principal amount thereof, plus accrued and unpaid
interest and Additional Interest, if any, to the date of redemption (or such
earlier date as required by the Gaming Authority or applicable gaming laws).

                                      A-5
<PAGE>

          (b)  Immediately upon a determination that a holder or beneficial
owner will not be licensed, qualified or found suitable, the holder or
beneficial owner will have no further rights (1) to exercise any right conferred
by the Notes, directly or indirectly, through any trustee, nominee or any other
Person or entity, or (2) to receive any interest or other distribution or
payment with respect to the Notes or any remuneration in any form from the
Company for services rendered or otherwise, except the redemption price of the
Notes. The holder or beneficial owner applying for a license, qualification or
finding of suitability must pay all related costs.

          7.   Mandatory Redemption.

          The Company shall not be required to make mandatory redemption
payments with respect to the Notes.

          8.   Offers to Purchase.

          (a)  Change of Control.  Within 20 days of the occurrence of a Change
of Control, the Company shall commence and thereafter shall consummate an Offer
to Purchase for all Notes then outstanding, at a purchase price equal to 101% of
the principal amount thereof, plus accrued interest and Additional Interest, if
any, to the Payment Date.  The Company shall not be required to make an Offer to
Purchase pursuant to this paragraph 8(a) if a third party makes an Offer to
Purchase in compliance with the Indenture and repurchases all Notes validly
tendered and not withdrawn under such Offer to Purchase.

          (b)  Asset Sales. The Company shall not, and shall not permit any
Restricted Subsidiary to, consummate any Asset Sale, unless (i) the
consideration received by the Company or such Restricted Subsidiary is at least
equal to the fair market value of the assets sold or disposed of and (ii) at
least 75% of the consideration (excluding contingent liabilities assumed by the
transferee of any such assets) received consists of cash or Temporary Cash
Investments or the assumption of Senior Indebtedness of the Company or a
Subsidiary Guarantor, provided that the Company or such Restricted Subsidiary is
irrevocably released from all liability under such Indebtedness. Within 360 days
after the receipt of any Net Cash Proceeds from an Asset Sale (other than
Barbary Excess Net Cash Proceeds), the Company shall or shall cause the relevant
Restricted Subsidiary to (i)(A) apply an amount equal to such Net Cash Proceeds
to permanently repay Senior Indebtedness of the Company or a Subsidiary
Guarantor or (B) invest an equal amount, or the amount not so applied pursuant
to clause (A) (or enter into a definitive agreement committing to so invest
within 12 months after the date of such agreement), in property or assets (other
than current assets) of a nature or type or that are used in a business (or in
Capital Stock of a company having property and assets of a nature or type, or
engaged in a business) similar or related to the nature or type of the property
and assets of, or the business of, the Company and its Restricted Subsidiaries
existing on the date of such investment and (ii) apply (no later than the end of
the 12-month period referred to in clause (i)) such excess Net Cash Proceeds (to
the extent not applied pursuant to clause (i)) as provided in the following
paragraph of this subparagraph 8(b).  The amount of such excess Net Cash
Proceeds required to be applied (or to be committed to be applied) during such
12-month period as set forth in clause (i) of the preceding sentence and not
applied as so required by

                                      A-6
<PAGE>

the end of such period shall constitute "Excess Proceeds." Pending application
of such Net Cash Proceeds by the end of the relevant period, the Company and its
Restricted Subsidiaries may use such Net Cash Proceeds to temporarily repay
revolving Indebtedness.

          If, as of the first day of any calendar month, the aggregate amount of
Excess Proceeds not theretofore subject to an Offer to Purchase pursuant to this
subparagraph 8(b) totals at least $10.0 million, the Company must commence, not
later than the fifteenth Business Day of such month, an Offer to Purchase to the
Holders and, to the extent required by the terms of any Pari Passu Indebtedness,
an Offer to Purchase to all holders of such Pari Passu Indebtedness, the maximum
principal amount of Notes and any such Pari Passu Indebtedness that may be
purchased out of the Excess Proceeds, at an offer price equal to 100% of the
principal amount thereof, plus, in each case, accrued and unpaid interest and
Additional Interest, if any, to the Payment Date. If the aggregate principal
amount of Notes and any such Pari Passu Indebtedness tendered by holders thereof
exceeds the amount of Excess Proceeds, the Notes and Pari Passu Indebtedness
shall be purchased on a pro rata basis. Upon the completion of any such Offers
to Purchase, the amount of Excess Proceeds shall be reset at zero.

          9.   Notice of Redemption.  Notice of redemption will be mailed at
least 30 days but not more than 60 days before the redemption date to each
Holder whose Notes are to be redeemed at its registered address.  Notes in
denominations larger than $1,000 may be redeemed in part but only in whole
multiples of $1,000, unless all of the Notes held by a Holder are to be
redeemed.  On and after the redemption date interest ceases to accrue on Notes
or portions thereof called for redemption.

          10.  Denominations, Transfer, Exchange.  The Notes are in registered
form without coupons in denominations of $1,000 and integral multiples of
$1,000.  The transfer of Notes may be registered and Notes may be exchanged as
provided in the Indenture.  The Registrar and the Trustee may require a Holder,
among other things, to furnish appropriate endorsements and transfer documents
and the Company may require a Holder to pay any taxes and fees required by law
or permitted by the Indenture.  The Company need not exchange or register the
transfer of any Note or portion of a Note selected for redemption, except for
the unredeemed portion of any Note being redeemed in part.  Also, the Company
need not exchange or register the transfer of any Notes for a period of 15 days
before a selection of Notes to be redeemed or during the period between a record
date and the corresponding Interest Payment Date.

          11.  Persons Deemed Owners.  The registered Holder of a Note may be
treated as its owner for all purposes.

          12.  Amendment, Supplement and Waiver.  Subject to certain exceptions,
the Indenture, any Note Guarantee or the Notes may be amended or supplemented
with the consent of the Holders of at least a majority in principal amount of
the then outstanding Notes and Additional Notes, if any, voting as a single
class, and any existing default or compliance with any provision of the
Indenture, any Note Guarantee or the Notes may be waived with the consent of the
Holders of a majority in principal amount of the then outstanding Notes and
Additional Notes, if any, voting as a single class.  Without the consent

                                      A-7
<PAGE>

of any Holder of a Note, the Indenture, any Note Guarantee or the Notes may be
amended or supplemented to cure any ambiguity, defect or inconsistency, to
provide for uncertificated Notes in addition to or in place of certificated
Notes or to alter the provisions of Article 2 of the Indenture (including the
related definitions) in a manner that does not materially adversely affect any
Holder, to provide for the assumption of the Company's or Guarantor's
obligations to Holders of the Notes by a successor to the Company or a Guarantor
in case of a merger or consolidation, to make any change that would provide any
additional rights or benefits to the Holders of the Notes or that does not
adversely affect the legal rights under the Indenture of any such Holder, to
comply with the requirements of the Commission in order to effect or maintain
the qualification of the Indenture under the Trust Indenture Act, to provide for
the Issuance of Additional Notes in accordance with the limitations set forth in
the Indenture, or to allow any Guarantor to execute a supplemental indenture to
the Indenture and/or a Note Guarantee with respect to the Notes.

          13.  Defaults and Remedies. Each of the following constitutes an Event
of Default:  (a) default for 30 days in the payment when due of interest on, or
Additional Interest, if any, with respect to, the Notes, whether or not such
payment is prohibited by Article 10 of the Indenture; (b) default in the payment
when due of principal of or premium, if any, on the Notes when the same becomes
due and payable at maturity, upon redemption (including in connection with an
offer to purchase) or otherwise, whether or not such payment is prohibited by
Article 10 of the Indenture; (c) failure by the Company or any of its
Subsidiaries to comply with any of the provisions of Section 4.07, 4.10, 4.17,
4.20 or 5.01 of the Indenture; (d) failure by the Company or any of its
Restricted Subsidiaries to observe or perform any other covenant,
representation, warranty or other agreement in this Indenture or the Notes for
45 days after notice to the Company by the Trustee or the Holders of at least
25% in aggregate principal amount of the Notes (including Additional Notes, if
any) then outstanding voting as a single class; (e) the occurrence with respect
to any issue or issues of Indebtedness of the Company or any Significant
Subsidiary having an outstanding principal amount of $5.0 million or more in the
aggregate for all such issues or all such Persons, whether such Indebtedness now
exists or shall hereafter be created, of (i) an event of default that has caused
the holder thereof to declare such Indebtedness to be due and payable prior to
its Stated Maturity and such Indebtedness has not been discharged in full or
such acceleration has not been rescinded or annulled within 30 days of such
acceleration or (ii) the failure to make a principal payment at the final (but
not any interim) fixed maturity and such defaulted payment shall not have been
made, waived or extended within 30 days of such payment default; (f) a final
judgment or final judgments for the payment of money shall be entered by a court
or courts of competent jurisdiction against the Company or any of its Restricted
Subsidiaries and such judgment or judgments are not paid, discharged or stayed
for a period of 60 days, provided that the aggregate of all such judgments
exceeds $5.0 million; (g) except as permitted by this Indenture, any Note
Guarantee is held in any judicial proceeding to be unenforceable or invalid or
shall cease for any reason to be in full force and effect or any Guarantor, or
any Person acting on behalf of any Guarantor, shall deny or disaffirm its
obligations under such Guarantor's Note Guarantee; (h) the revocation,
termination, suspension or other cessation of effectiveness for a period of more
than 90 consecutive days of any Gaming License that results in the cessation or
suspension of gaming operations or any Liquor License that results in the
cessation or suspension of the ability to serve liquor, in each case at any of
The Orleans, Gold Coast, Barbary Coast, or New Casino (after it begins

                                      A-8
<PAGE>

operations); provided that the Company may relinquish a Gaming License or Liquor
License with respect to any of its hotel casinos other than The Orleans, the
Gold Coast or the New Casino if such relinquishment is, in the reasonable, good
faith judgment of the Board of Directors of the Company or the Restricted
Subsidiary, as applicable, both desirable in the conduct of the business of the
Company and its Restricted Subsidiaries, taken as a whole, and not
disadvantageous in any material respect to the Holders; (i) the Company or any
of its Restricted Subsidiaries pursuant to or within the meaning of Bankruptcy
Law: (i) commences a voluntary case, (ii) consents to the entry of an order for
relief against it in an involuntary case, (iii) consents to the appointment of a
custodian of it or for all or substantially all of its property, (iv) makes a
general assignment for the benefit of its creditors, or (v) generally is not
paying its debts as they become due; or (j) a court of competent jurisdiction
enters an order or decree under any Bankruptcy Law that:  (i) is for relief
against the Company or any of its Restricted Subsidiaries in an involuntary
case; (ii) appoints a custodian of the Company or any of its Restricted
Subsidiaries or for all or substantially all of the property of the Company or
any of its Restricted Subsidiaries; or (iii) orders the liquidation of the
Company or any of its Restricted Subsidiaries; and, in any such case the order
or decree remains unstayed and in effect for 60 consecutive days.  If any Event
of Default (other than an Event of Default arising from certain events of
bankruptcy or insolvency) occurs and is continuing, the Trustee or the Holders
of at least 25% in principal amount of the then outstanding Notes may declare
all the Notes to be due and payable immediately.  Notwithstanding the foregoing,
in the case of an Event of Default arising from certain events of bankruptcy or
insolvency, all outstanding Notes will become due and payable without further
action or notice.  If an Event of Default occurs and is continuing, the Trustee
may pursue any available remedy to collect the payment of principal, premium, if
any, and interest on the Notes or to enforce the performance of any provision of
the Notes or the Indenture.  The Trustee may maintain a proceeding even if it
does not possess any of the Notes or does not produce any of them in the
proceeding.  A delay or omission by the Trustee or any holder of a note in
exercising any right or remedy accruing upon an Event of Default shall not
impair the right or remedy or constitute a waiver of or acquiescence in the
Event of Default.  All remedies are cumulative to the extent permitted by law.

          14.  Subordination.  The Notes and the Note Guarantees are
subordinated in right of payment, to the extent and in the manner provided in
Article 10 and Section 11.2 of the Indenture, to the prior payment in full of
all Senior Indebtedness.  The Company agrees, and each Holder by accepting a
Note consents and agrees, to the subordination provided in the Indenture and
authorizes the Trustee to give it effect.

          15.  Trustee Dealings with Company.  The Trustee, in its individual or
any other capacity, may become the owner or pledgee of Notes and may otherwise
deal with the Company or any Affiliate of the Company with the same rights it
would have if it were not Trustee.

          16.  No Recourse Against Others.  No past, present or future director,
officer, employee, incorporator or stockholder, of the Company or any Guarantor,
as such, shall have any liability for any obligations of the Company or the
Guarantor under the Notes or the Indenture or for any claim based on, in respect
of, or by reason of, such obligations or

                                      A-9
<PAGE>

their creation. Each Holder by accepting a Note waives and releases all such
liability. The waiver and release are part of the consideration for the issuance
of the Notes.

          17.  Authentication.  This Note shall not be valid until authenticated
by the manual signature of the Trustee or an authenticating agent.

          18.  Abbreviations.  Customary abbreviations may be used in the name
of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (=
tenants by the entireties), JT TEN (= joint tenants with right of survivorship
and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts
to Minors Act).

          19.  Additional Rights of Holders of Restricted Global Notes and
Restricted Definitive Notes.  In addition to the rights provided to Holders of
Notes under the Indenture, Holders of Restricted Global Notes and Restricted
Definitive Notes shall have all the rights set forth in the A/B Exchange
Registration Rights Agreement dated as of March 23, 1999, between the Company
and the parties named on the signature pages thereof (the "Registration Rights
Agreement").

          20.  CUSIP Numbers.  Pursuant to a recommendation promulgated by the
Committee on Uniform Security Identification Procedures, the Company has caused
CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers
in notices of redemption as a convenience to Holders.  No representation is made
as to the accuracy of such numbers either as printed on the Notes or as
contained in any notice of redemption and reliance may be placed only on the
other identification numbers placed thereon.

          The Company will furnish to any Holder upon written request and
without charge a copy of the Indenture and/or the Registration Rights Agreement.
Requests may be made to:

          Coast Hotels and Casinos, Inc.
          c/o Coast Resorts, Inc.
          4500 West Tropicana Avenue
          Las Vegas, NV 89103
          Telecopier No.: (702) 365-7499
          Attention: President

                                     A-10
<PAGE>

NOTE GUARANTEE

          Coast Resorts, Inc., a Nevada corporation, (hereinafter referred to as
the "Guarantor" which term includes any successors or assigns under the
Indenture and any additional Subsidiary Guarantors), has irrevocably and
unconditionally guaranteed (i) the due and punctual payment of the principal of,
premium, if any, and interest and Additional Interest, if any, on the 9 1/2%
Senior Subordinated Notes due 2009 (the "Notes") of Coast Hotels and Casinos,
Inc., a Nevada corporation (the "Company"), whether at stated maturity, by
acceleration or otherwise, the due and punctual payment of interest on the
overdue principal and premium, if any, and (to the extent permitted by law)
interest on any interest or Additional Interest, if any, on the Notes, and the
due and punctual performance of all other obligations of the Company, to the
Holders or the Trustee all in accordance with the terms set forth in Article 11
of the Indenture and (ii) in case of any extension of time of payment or renewal
of any Notes or any such other obligations, that the same will be promptly paid
in full when due or performed in accordance with the terms of the extension or
renewal, whether at stated maturity, by acceleration or otherwise.

          The obligations of each Guarantor to the Holders and to the Trustee
pursuant to this Note Guarantee and the Indenture are expressly set forth in
Article 11 of the Indenture and reference is hereby made to such Indenture for
the precise terms of this Note Guarantee.

          The obligations of each Guarantor to the Holders and to the Trustee
pursuant to this Note Guarantee and the Indenture are expressly subordinated to
Senior Indebtedness of the Guarantor as set forth in Section 11.2 and Article 10
of the Indenture and reference is hereby made to such Section and Article for
the precise terms of such subordination.

          No stockholder, employee, officer, director or incorporator, as such,
past, present or future of each Guarantor shall have any liability under this
Note Guarantee by reason of his or its status as such stockholder, employee,
officer, director or incorporator.

          This is a continuing Note Guarantee and shall remain in full force and
effect and shall be binding upon each Guarantor and its successors and assigns
until full and final payment of all of the Company's obligations under the Notes
and Indenture or until released or has no further force or effect in accordance
with the Indenture and shall inure to the benefit of the successors and assigns
of the Trustee and the Holders, and, in the event of any transfer or assignment
of rights by any Holder or the Trustee, the rights and privileges herein
conferred upon that party shall automatically extend to and be vested in such
transferee or assignee, all subject to the terms and conditions hereof.  This is
a Note Guarantee of payment and not of collectibility.

          This Note Guarantee shall not be valid or obligatory for any purpose
until the certificate of authentication on the Note upon which this Note
Guarantee is noted shall have been executed by the Trustee under the Indenture
by the manual signature of one of its authorized officers.

                                     A-11
<PAGE>

          The Obligations of each Guarantor under its Note Guarantee shall be
limited to the extent necessary to insure that it does not constitute a
fraudulent conveyance under applicable law.

          THE TERMS OF ARTICLE 11 OF THE INDENTURE ARE INCORPORATED HEREIN BY
REFERENCE.

          This Note Guarantee shall be governed by the laws of the state of New
York.

          Capitalized terms used herein have the same meanings given in the
Indenture unless otherwise indicated.

Dated as of [Date of Issuance]          COAST RESORTS, INC.

                                        By: _________________________
                                        Name:
                                        Title:

                                                                          (SEAL)

                                     A-12
<PAGE>

                                Assignment Form

    To assign this Note, fill in the form below:

    (I) or (we) assign and transfer this Note to: ______________________________
                                                  (Insert assignee's legal name)

________________________________________________________________________________
                 (Insert assignee's soc. sec. or tax I.D. no.)

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
             (Print or type assignee's name, address and zip code)

and irrevocably appoint ______________ to transfer this Note on the books of the
Company. The agent may substitute another to act for him.

Date:_________________________

    Your Signature:_____________________________________________________________
                    (Sign exactly as your name appears on the face of this Note)

                    Signature Guarantee*:_______________________________________

       *  Participant in a recognized Signature Guarantee Medallion Program (or
other signature guarantor acceptable to the Trustee).

                                     A-13
<PAGE>

                      Option of Holder to Elect Purchase

          If you want to elect to have this Note purchased by the Company
pursuant to Section 4.17 or 4.20 of the Indenture, check the appropriate box
below:

          [_]Section 4.17        [_]Section 4.20

          If you want to elect to have only part of the Note purchased by the
Company pursuant to Section 4.17 or Section 4.20 of the Indenture, state the
amount you elect to have purchased:

     $ _____________________________

     Date:__________________________

     Your Signature:____________________________________________________________
                    (Sign exactly as your name appears on the face of this Note)

     Tax Identification No.:____________________________________________________

     Signature Guarantee*:______________________________________________________

          *  Participant in a recognized Signature Guarantee Medallion Program
(or other signature guarantor acceptable to the Trustee).

                                     A-14
<PAGE>

            SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE*

          The following exchanges of a part of this Global Note for an interest
in another Global Note or for a Definitive Note, or exchanges of a part of
another Global Note or Definitive Note for an interest in this Global Note, have
been made:

<TABLE>
<CAPTION>
                                                                           Principal Amount of
                         Amount of decrease     Amount of increase in       this Global Note          Signature of authorized
                         in Principal Amount     Principal Amount of         following such         officer of Trustee or Note
   Date of Exchange      of this Global Note       this Global Note      decrease (or increase)              Custodian
 --------------------   ---------------------   ---------------------   ------------------------   ---------------------------
<S>                     <C>                     <C>                     <C>                        <C>
</TABLE>

*  This schedule should be included only if the Note is issued in global form.

                                     A-15<PAGE>

--------------------------------------------------------------------------------
                                                                     EXHIBIT 4.5

                         REGISTRATION RIGHTS AGREEMENT

                             Dated February 2, 2001

                                     among

                         COAST HOTELS AND CASINOS, INC.
                              COAST RESORTS, INC.

                                      and

                         BANC OF AMERICA SECURITIES LLC
                       MORGAN STANLEY & CO. INCORPORATED

--------------------------------------------------------------------------------
<PAGE>

                         REGISTRATION RIGHTS AGREEMENT

          THIS REGISTRATION RIGHTS AGREEMENT (the "Agreement") is made and
entered into February 2, 2001, among COAST HOTELS AND CASINOS, INC., a Nevada
corporation (the "Company"), COAST RESORTS, INC., a Nevada corporation (the
"Guarantor"), and BANC OF AMERICA SECURITIES LLC, and MORGAN STANLEY & CO.
INCORPORATED (the "Placement Agents").

          This Agreement is made pursuant to the Placement Agreement dated
January 23, 2001, among the Company, the Guarantor and the Placement Agents (the
"Placement Agreement"), which provides for the sale by the Company to the
Placement Agents of an aggregate of $50,000,000 principal amount of the
Company's 9 1/2% Senior Subordinated Notes Due 2009 (the "Securities").  In
order to induce the Placement Agents to enter into the Placement Agreement, the
Company has agreed to provide to the Placement Agents and their direct and
indirect transferees the registration rights set forth in this Agreement.  The
execution of this Agreement is a condition to the closing under the Placement
Agreement.

          In consideration of the foregoing, the parties hereto agree as
follows:

          1.  Definitions.
              -----------

          As used in this Agreement, the following capitalized defined terms
shall have the following meanings:

          "1933 Act" shall mean the Securities Act of 1933, as amended from time
           --------
     to time.

          "1934 Act" shall mean the Securities Exchange Act of 1934, as amended
           --------
     from time to time.

          "Closing Date" shall mean the Closing Date as defined in the Placement
           ------------
     Agreement.

          "Company" shall have the meaning set forth in the preamble and shall
           -------
     also include the Company's successors.

          "Exchange Dates" shall have the meaning set forth in Section 2(a)(ii).
           --------------

          "Exchange Offer" shall mean the exchange offer by the Company of
           --------------
     Exchange Securities for Registrable Securities pursuant to Section 2(a)
     hereof.
<PAGE>

          "Exchange Offer Registration" shall mean a registration under the 1933
           ---------------------------
     Act effected pursuant to Section 2(a) hereof.

          "Exchange Offer Registration Statement" shall mean an exchange offer
           -------------------------------------
     registration statement on Form S-4 (or, if applicable, on another
     appropriate form) and all amendments and supplements to such registration
     statement, in each case including the Prospectus contained therein, all
     exhibits thereto and all material incorporated by reference therein.

          "Exchange Securities" shall mean securities issued by the Company
           -------------------
     under the Indenture containing terms identical to the Securities (except
     that (i) interest thereon shall accrue from the last date on which interest
     was paid on the Securities or, if no such interest has been paid, from
     February 2, 2001 and (ii) the Exchange Securities will not contain
     restrictions on transfer) and to be offered to Holders of Securities in
     exchange for Securities pursuant to the Exchange Offer.

          "Guarantor" shall have the meaning set forth in the preamble.
           ---------

          "Holder" shall mean the Placement Agents, for so long as they own any
           ------
     Registrable Securities, and each of their successors, assigns and direct
     and indirect transferees who become registered owners of Registrable
     Securities under the Indenture; provided that for purposes of Sections 4
                                     --------
     and 5 of this Agreement, the term "Holder" shall include Participating
     Broker-Dealers (as defined in Section 4(a)).

          "Indenture" shall mean the Indenture relating to the Securities dated
           ---------
     as of March 23, 1999 among the Company, the Guarantor and Firstar Bank N.A.
     (formerly known as Firstar Bank of Minnesota, N.A.), as trustee, as
     supplemented by the First Supplemental Indenture dated as of November 20,
     2000 and the Second Supplemental Indenture dated as of February 2, 2001,
     and as the same may be amended.

          "Majority Holders" shall mean the Holders of a majority of the
           ----------------
     aggregate principal amount of outstanding Registrable Securities; provided
                                                                       --------
     that whenever the consent or approval of Holders of a specified percentage
     of Registrable Securities is required hereunder, Registrable Securities
     held by the Company or any of its affiliates (as such term is defined in
     Rule 405 under the 1933 Act) (other than the Placement Agents or subsequent
     Holders of Registrable Securities if such subsequent holders are deemed to
     be such affiliates solely by reason of their holding of such Registrable
     Securities) shall not be counted in determining whether such consent or
     approval was given by the Holders of such required percentage or amount.

          "Majority Shelf Holders" shall mean the Holders of a majority in
           ----------------------
     principal amount of Registrable Securities covered by the Shelf
     Registration Statement; provided that whenever the consent or approval of
                             --------
     Majority Shelf Holders is required hereunder,

                                       2
<PAGE>

     Registrable Securities held by the Company or any of its affiliates (as
     such term is defined in Rule 405 under the 1933 Act) (other than the
     Placement Agents or subsequent Holders of Registrable Securities if such
     subsequent holders are deemed to be such affiliates solely by reason of
     their holding of such Registrable Securities) shall not be counted in
     determining whether such consent or approval was given by the Holders of
     such required percentage or amount.

          "Person" shall mean an individual, partnership, limited liability
           ------
     company, corporation, trust or unincorporated organization, or a government
     or agency or political subdivision thereof.

          "Placement Agents" shall have the meaning set forth in the preamble.
           ----------------

          "Placement Agreement" shall have the meaning set forth in the
           -------------------
     preamble.

          "Prospectus" shall mean the prospectus included in a Registration
           ----------
     Statement, including any preliminary prospectus, and any such prospectus as
     amended or supplemented by any prospectus supplement, including a
     prospectus supplement with respect to the terms of the offering of any
     portion of the Registrable Securities covered by a Shelf Registration
     Statement, and by all other amendments and supplements to such prospectus,
     and in each case including all material incorporated by reference therein.

          "Registrable Securities" shall mean the Securities; provided, however,
           ----------------------                             --------  -------
     that the Securities shall cease to be Registrable Securities (i) when a
     Registration Statement with respect to such Securities shall have been
     declared effective under the 1933 Act and such Securities shall have been
     disposed of pursuant to such Registration Statement, (ii) when such
     Securities have been sold to the public pursuant to Rule 144 (or any
     similar provision then in force, but not Rule 144A) under the 1933 Act or
     (iii) when such Securities shall have ceased to be outstanding.

          "Registration Expenses" shall mean any and all expenses incident to
           ---------------------
     performance of or compliance by the Company with this Agreement, including
     without limitation:  (i) all SEC, stock exchange or National Association of
     Securities Dealers, Inc. registration and filing fees, (ii) all fees and
     expenses incurred in connection with compliance with state securities or
     blue sky laws (including reasonable fees and disbursements of one counsel
     for any underwriters or Holders in connection with blue sky qualification
     of any of the Exchange Securities or Registrable Securities), (iii) all
     expenses of any Persons in preparing or assisting in preparing, word
     processing, printing and distributing any Registration Statement, any
     Prospectus, any amendments or supplements thereto, any underwriting
     agreements, securities sales agreements and other documents relating to the
     performance of and compliance with this Agreement, (iv) all rating agency
     fees, (v) all fees and disbursements relating to the qualification of the
     Indenture under applicable securities laws, (vi) the fees and disbursements
     of the Trustee and its counsel, (vii) the

                                       3
<PAGE>

     fees and disbursements of counsel for the Company and, in the case of a
     Shelf Registration Statement, the fees and disbursements of one counsel for
     the Holders (which counsel shall be selected by the Majority Holders and
     which counsel may also be counsel for the Placement Agents) and (viii) the
     fees and disbursements of the independent public accountants of the
     Company, including the expenses of any special audits or "cold comfort"
     letters required by or incident to such performance and compliance, but
     excluding fees and expenses of counsel to the underwriters (other than fees
     and expenses set forth in clause (ii) above) or the Holders and
     underwriting discounts and commissions and transfer taxes, if any, relating
     to the sale or disposition of Registrable Securities by a Holder.

          "Registration Statement" shall mean any registration statement of the
           ----------------------
     Company and the Guarantor that covers any of the Exchange Securities or
     Registrable Securities pursuant to the provisions of this Agreement and all
     amendments and supplements to any such Registration Statement, including
     post-effective amendments, in each case including the Prospectus contained
     therein, all exhibits thereto and all material incorporated by reference
     therein.

          "SEC" shall mean the Securities and Exchange Commission.
           ---

          "Shelf Holders" shall mean the Holders of Registrable Securities
           -------------
     covered by the Shelf Registration Statement.

          "Shelf Registration" shall mean a registration effected pursuant to
           ------------------
     Section 2(b) hereof.

          "Shelf Registration Statement" shall mean a "shelf" registration
           ----------------------------
     statement of the Company pursuant to the provisions of Section 2(b) of this
     Agreement which covers all of the Registrable Securities (but no other
     securities unless approved by the Majority Shelf Holders) on an appropriate
     form under Rule 415 under the 1933 Act, or any similar rule that may be
     adopted by the SEC, and all amendments and supplements to such registration
     statement, including post-effective amendments, in each case including the
     Prospectus contained therein, all exhibits thereto and all material
     incorporated by reference therein.

          "Trustee" shall mean the trustee with respect to the Securities under
           -------
     the Indenture.

          "Underwriter" shall have the meaning set forth in Section 3 hereof.
           -----------

          "Underwritten Offering" shall mean a registration under a Shelf
           ---------------------
     Registration Statement in which Registrable Securities are sold to an
     Underwriter for reoffering to the public.

                                       4
<PAGE>

          2.     Registration Under the 1933 Act.
                 --------------------------------

          (a) To the extent not prohibited by any applicable law or applicable
interpretation of the staff of the SEC, the Company and the Guarantor shall use
their best efforts to cause to be filed an Exchange Offer Registration Statement
covering the offer by the Company and the Guarantor to the Holders to exchange
all of the Registrable Securities for Exchange Securities and to have such
Registration Statement remain effective until the closing of the Exchange Offer.
The Company and the Guarantor shall commence the Exchange Offer promptly after
the Exchange Offer Registration Statement has been declared effective by the SEC
and use their best efforts to have the Exchange Offer consummated not later than
60 days after such effective date. The Company and the Guarantor shall commence
the Exchange Offer by mailing the related exchange offer Prospectus and
accompanying documents to each Holder stating, in addition to such other
disclosures as are required by applicable law:

          (i)    that the Exchange Offer is being made pursuant to this
     Registration Rights Agreement and that all Registrable Securities validly
     tendered will be accepted for exchange;

          (ii)   the dates of acceptance for exchange (which shall be a period
     of at least 20 business days from the date such notice is mailed) (the
     "Exchange Dates");

          (iii)  that any Registrable Security not tendered will remain
outstanding and continue to accrue interest, but will not retain any rights
under this Registration Rights Agreement;

          (iv)   that Holders electing to have a Registrable Security exchanged
     pursuant to the Exchange Offer will be required to surrender such
     Registrable Security, together with the enclosed letters of transmittal, to
     the institution and at the address (located in the Borough of Manhattan,
     The City of New York) specified in the notice prior to the close of
     business on the last Exchange Date; and

          (v)    that Holders will be entitled to withdraw their election, not
     later than the close of business on the last Exchange Date, by sending to
     the institution and at the address (located in the Borough of Manhattan,
     The City of New York) specified in the notice a telegram, telex, facsimile
     transmission or letter setting forth the name of such Holder, the principal
     amount of Registrable Securities delivered for exchange and a statement
     that such Holder is withdrawing its election to have such Securities
     exchanged.

          As soon as practicable after the last Exchange Date, the Company
     shall:

          (vi)   (i)  accept for exchange Registrable Securities or portions
thereof tendered and not validly withdrawn pursuant to the Exchange Offer; and

                                       5
<PAGE>

          (vii)  (ii) deliver, or cause to be delivered, to the Trustee for
     cancellation all Registrable Securities or portions thereof so accepted for
     exchange by the Company and issue, and cause the Trustee to promptly
     authenticate and mail to each Holder, an Exchange Security equal in
     principal amount to the principal amount of the Registrable Securities
     surrendered by such Holder.

The Company shall use its best efforts to complete the Exchange Offer as
provided above and shall comply with the applicable requirements of the 1933
Act, the 1934 Act and other applicable laws and regulations in connection with
the Exchange Offer.  The Exchange Offer shall not be subject to any conditions,
other than that the Exchange Offer does not violate applicable law or any
applicable interpretation of the Staff of the SEC.  The Company shall inform the
Placement Agents of the names and addresses of the Holders to whom the Exchange
Offer is made, and the Placement Agents shall have the right, subject to
applicable law, to contact such Holders and otherwise facilitate the tender of
Registrable Securities in the Exchange Offer.

          (b)  In the event that (i) the Company determines that the Exchange
Offer Registration provided for in Section 2(a) above is not available or may
not be consummated as soon as practicable after the last Exchange Date because
it would violate applicable law or the applicable interpretations of the Staff
of the SEC, (ii) the Exchange Offer is not for any other reason consummated by
August 2, 2001 or (iii) in the opinion of counsel for the Placement Agents
addressed to the Company and the Guarantor a Registration Statement must be
filed and a Prospectus must be delivered by the Placement Agents in connection
with any offering or sale of Registrable Securities by a Holder that (A) is or
was prohibited by law or Commission policy from participating in the Exchange
Offer or (B) may not resell the Exchange Securities acquired by it in the
Exchange Offer to the public without delivering a prospectus and the Prospectus
contained in the Exchange Offer Registration Statement is not appropriate or
available for such resales by such Holder or (C) is a Broker-Dealer and holds
Registrable Securities acquired directly from the Company or any of its
Affiliates, the Company shall use its best efforts to cause to be filed as soon
as practicable after such determination, date or receipt of such opinion of
counsel by the Company, as the case may be, a Shelf Registration Statement
providing for the sale by the Holders of all of the Registrable Securities and
to have such Shelf Registration Statement declared effective by the SEC. In the
event the Company and the Guarantor are required to file a Shelf Registration
Statement solely as a result of the matters referred to in clause (iii) of the
preceding sentence, the Company and the Guarantor shall use their best efforts
to file and have declared effective by the SEC both an Exchange Offer
Registration Statement pursuant to Section 2(a) with respect to all Registrable
Securities and a Shelf Registration Statement (which may be a combined
Registration Statement with the Exchange Offer Registration Statement) with
respect to offers and sales of Registrable Securities held by the Placement
Agents after completion of the Exchange Offer. The Company agrees to use its
best efforts to keep the Shelf Registration Statement continuously effective
until the expiration of the period referred to in Rule 144(k) with respect to
the Registrable Securities or such shorter period that will terminate when all
of the Registrable Securities covered by the Shelf Registration

                                       6
<PAGE>

Statement have been sold pursuant to the Shelf Registration Statement. The
Company further agrees to supplement or amend the Shelf Registration Statement
if required by the rules, regulations or instructions applicable to the
registration form used by the Company for such Shelf Registration Statement or
by the 1933 Act or by any other rules and regulations thereunder for shelf
registration or if reasonably requested by a Shelf Holder with respect to
information relating to such Shelf Holder, and to use its best efforts to cause
any such amendment to become effective and such Shelf Registration Statement to
become usable as soon as thereafter practicable. The Company agrees to furnish
to the Shelf Holders copies of any such supplement or amendment promptly after
its being used or filed with the SEC.

          (c)  The Company shall pay all Registration Expenses in connection
with the registration pursuant to Section 2(a) and Section 2(b). Each Holder
shall pay all underwriting discounts and commissions and transfer taxes, if any,
relating to the sale or disposition of such Holder's Registrable Securities
pursuant to the Shelf Registration Statement.

          (d)  An Exchange Offer Registration Statement pursuant to Section 2(a)
hereof or a Shelf Registration Statement pursuant to Section 2(b) hereof will
not be deemed to have become effective unless it has been declared effective by
the SEC; provided, however, that, if, after it has been declared effective, the
         --------  -------
offering of Registrable Securities pursuant to a Shelf Registration Statement is
interfered with by any stop order, injunction or other order or requirement of
the SEC or any other governmental agency or court, such Registration Statement
will be deemed not to have become effective during the period of such
interference until the offering of Registrable Securities pursuant to such
Registration Statement may legally resume; provided further that if the offering
                                           --------
of Registrable Securities pursuant to a Shelf Registration Statement is
interfered with as described in the previous sentence by reason of any
information relating to a Shelf Holder furnished to the Company in writing by
such Shelf Holder expressly for use in such Shelf Registration Statement, then
the provisions of the following sentence shall be inapplicable with respect to
such Shelf Holder. In the event that either the Exchange Offer is not
consummated or any Shelf Registration Statement required to be filed pursuant to
this Agreement is not declared effective on or prior to August 2, 2001, the
interest rate on the Securities will be increased by 0.5% per annum until the
Exchange Offer is consummated or the Shelf Registration Statement is declared
effective by the SEC; provided that such interest rate shall not be increased
pursuant to this Section 2(d) if the Company and the Guarantor are required to
file the Shelf Registration Statement solely as a result of matters referred to
in clause (iii) of the first sentence of Section 2(b) hereof and the Company and
the Guarantor shall not have received the opinion of counsel referred to in such
clause (iii) upon or prior to the consummation of the Exchange Offer.

          (e)  Without limiting the remedies available to the Placement Agents
and the Holders, the Company acknowledges that any failure by the Company to
comply with its obligations under Section 2(a) and Section 2(b) hereof may
result in material irreparable injury to the Placement Agents or the Holders for
which there is no adequate remedy at law, that it will

                                       7
<PAGE>

not be possible to measure damages for such injuries precisely and that, in the
event of any such failure, the Placement Agents or any Holder may obtain such
relief as may be required to specifically enforce the Company's obligations
under Section 2(a) and Section 2(b) hereof.

          3.   Registration Procedures.
               ------------------------

          In connection with the obligations of the Company with respect to the
Registration Statements pursuant to Section 2(a) and Section 2(b) hereof, the
Company shall as expeditiously as possible:

          (a)  prepare and file with the SEC a Registration Statement on the
appropriate form under the 1933 Act, which form (x) shall be selected by the
Company and (y) shall, in the case of a Shelf Registration, be available for the
sale of the Registrable Securities by the selling Holders thereof and (z) shall
comply as to form in all material respects with the requirements of the
applicable form and include all financial statements required by the SEC to be
filed therewith, and use its best efforts to cause such Registration Statement
to become effective and remain effective in accordance with Section 2 hereof;

          (b)  prepare and file with the SEC such amendments and post-effective
amendments to each Registration Statement as may be necessary to keep such
Registration Statement effective for the applicable period and cause each
Prospectus to be supplemented by any required prospectus supplement and, as so
supplemented, to be filed pursuant to Rule 424 under the 1933 Act; to the extent
required, to keep each Prospectus current during the period described under
Section 4(3) and Rule 174 under the 1933 Act that is applicable to transactions
by brokers or dealers with respect to the Registrable Securities or Exchange
Securities;

          (c)  in the case of a Shelf Registration, furnish to each Holder of
Registrable to counsel for the Placement Agents, to counsel for the Holders and
to each Underwriter of an Underwritten Offering of Registrable Securities, if
any, without charge, as many copies of each Prospectus, including each
preliminary Prospectus, and any amendment or supplement thereto and such other
documents as such Holder or Underwriter may reasonably request, in order to
facilitate the public sale or other disposition of the Registrable Securities;
and the Company consents to the use of such Prospectus and any amendment or
supplement thereto in accordance with applicable law by each of the selling
Holders of Registrable Securities and any such Underwriters in connection with
the offering and sale of the Registrable Securities covered by and in the manner
described in such Prospectus or any amendment or supplement thereto in
accordance with applicable law;

          (d)  use its best efforts to register or qualify the Registrable
Securities under all applicable state securities or "blue sky" laws of such
jurisdictions as may be required in connection with the Exchange Offer and, in
connection with the Shelf Registration, as any Shelf Holder shall reasonably
request in writing by the time the applicable Registration Statement is declared
effective by the SEC, to cooperate with such Holders in connection with any
filings

                                       8
<PAGE>

required to be made with the National Association of Securities Dealers, Inc.
and do any and all other acts and things which may be reasonably necessary or
advisable to enable such Shelf Holder to consummate the disposition in each such
jurisdiction of such Registrable Securities owned by such Shelf Holder;
provided, however, that the Company shall not be required to (i) qualify as a
--------  -------
foreign corporation or as a dealer in securities in any jurisdiction where it
would not otherwise be required to qualify but for this Section 3(d), (ii) file
any general consent to service of process or (iii) subject itself to taxation in
any such jurisdiction if it is not so subject;

          (e)  in the case of a Shelf Registration, notify each Shelf Holder,
counsel for the Holders and counsel for the Placement Agents promptly and, if
requested by any such Holder or counsel, confirm such advice in writing (i) when
a Shelf Registration Statement has become effective and when any post-effective
amendment thereto has been filed and becomes effective, (ii) of any request by
the SEC or any state securities authority for amendments and supplements to a
Shelf Registration Statement and Prospectus or for additional information after
the Shelf Registration Statement has become effective, (iii) of the issuance by
the SEC or any state securities authority of any stop order suspending the
effectiveness of a Shelf Registration Statement or the initiation of any
proceedings for that purpose, (iv) if, between the effective date of a Shelf
Registration Statement and the closing of any sale of Registrable Securities
covered thereby, the representations and warranties of the Company contained in
any underwriting agreement, securities sales agreement or other similar
agreement, if any, relating to the offering cease to be true and correct in all
material respects or if the Company receives any notification with respect to
the suspension of the qualification of the Registrable Securities for sale in
any jurisdiction or the initiation of any proceeding for such purpose, (v) of
the happening of any event during the period a Shelf Registration Statement is
effective which makes any statement made in such Shelf Registration Statement or
the related Prospectus untrue in any material respect or which requires the
making of any changes in such Shelf Registration Statement or Prospectus in
order to make the statements therein not misleading and (vi) of any
determination by the Company that a post-effective amendment to a Shelf
Registration Statement would be appropriate;

          (f)  make every reasonable effort to obtain the withdrawal of any
order suspending the effectiveness of a Registration Statement at the earliest
possible moment and provide immediate notice to each Holder of the withdrawal of
any such order;

          (g)  in the case of a Shelf Registration, furnish to each Shelf
Holder, without charge, at least one conformed copy of each Registration
Statement and any post-effective amendment thereto (without documents
incorporated therein by reference or exhibits thereto, unless requested);

          (h)  in the case of a Shelf Registration, cooperate with the Shelf
Holders to facilitate the timely preparation and delivery of certificates
representing Registrable Securities to be sold and not bearing any restrictive
legends and enable such Registrable Securities to be in such denominations
(consistent with the provisions of the Indenture) and registered in such

                                       9
<PAGE>

names as the Shelf Holders may reasonably request at least two business days
prior to the closing of any sale of Registrable Securities;

          (i)  in the case of a Shelf Registration, upon the occurrence of any
event contemplated by Section 3(e)(v) hereof, use its best efforts to prepare
and file with the SEC a supplement or post-effective amendment to a Registration
Statement or the related Prospectus or any document incorporated therein by
reference or file any other required document so that, as thereafter delivered
to the purchasers of the Registrable Securities, such Prospectus will not
contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading. The Company agrees to notify the Shelf
Holders to suspend use of the Prospectus as promptly as practicable after the
occurrence of such an event, and the Holders hereby agree to suspend use of the
Prospectus until the Company has amended or supplemented the Prospectus to
correct such misstatement or omission;

          (j)  a reasonable time prior to the filing of any Registration
Statement, any Prospectus, any amendment to a Registration Statement or
amendment or supplement to a Prospectus or any document which is to be
incorporated by reference into a Registration Statement or a Prospectus after
initial filing of a Registration Statement, provide copies of such document to
the Placement Agents and their counsel (and, in the case of a Shelf Registration
Statement, the Shelf Holders and one counsel to be chosen by the Majority Shelf
Holders) and make such of the representatives of the Company as shall be
reasonably requested by the Placement Agents or their counsel (and, in the case
of a Shelf Registration Statement, the Shelf Holders or their counsel chosen as
provided in this paragraph) available for discussion of such document, and shall
not at any time file or make any amendment to the Registration Statement, any
Prospectus or any amendment of or supplement to a Registration Statement or a
Prospectus or any document which is to be incorporated by reference into a
Registration Statement or a Prospectus, of which the Placement Agents and their
counsel (and, in the case of a Shelf Registration Statement, the Shelf Holders
and their counsel chosen as provided in this paragraph) shall not have
previously been advised and furnished a copy or to which the Placement Agents or
their counsel (and, in the case of a Shelf Registration Statement, the Shelf
Holders or their counsel chosen as provided in this paragraph) shall reasonably
object.

          (k)  obtain a CUSIP number for all Exchange Securities or Registrable
Securities, as the case may be, not later than the effective date of a
Registration Statement;

          (l)  in the case of a Shelf Registration, make available for
inspection by a representative of the Shelf Holders designated by the Majority
Shelf Holders, any Underwriter participating in any Underwritten Offering
pursuant to such Shelf Registration Statement, and attorneys and accountants
designated by the Majority Shelf Holders, at reasonable times and in a
reasonable manner, all financial and other records, pertinent documents and
properties of the Company, and cause the respective officers, directors and
employees of the Company to supply

                                       10
<PAGE>

all information reasonably requested by any such representative, Underwriter,
attorney or accountant in connection with a Shelf Registration Statement;

          (m)  in the case of a Shelf Registration, use its best efforts to
cause all Registrable Securities to be listed on any securities exchange or any
automated quotation system on which similar securities issued by the Company are
then listed if requested by the Majority Shelf Holders, to the extent such
Registrable Securities satisfy applicable listing requirements;

          (n)  use its best efforts to cause the Exchange Securities or
Registrable Securities, as the case may be, to be rated by two nationally
recognized statistical rating organizations (as such term is defined in Rule
436(g)(2) under the 1933 Act);

          (o)  if reasonably requested by any Holder of Registrable Securities
covered by a Registration Statement, (i) promptly incorporate in a Prospectus
supplement or post-effective amendment such information with respect to such
Holder as such Holder reasonably requests to be included therein and (ii) make
all required filings of such Prospectus supplement or such post-effective
amendment as promptly as practicable after the Company has received notification
of the matters to be incorporated in such filing; and

          (p)  in the case of a Shelf Registration, enter into such customary
agreements and take all such other actions in connection therewith (including
those requested by the Holders of a majority of the Registrable Securities being
sold) in order to expedite or facilitate the disposition of such Registrable
Securities including, but not limited to, pursuant to an Underwritten Offering
and in such connection, (i) to the extent possible, make such representations
and warranties to the Holders and any Underwriters of such Registrable
Securities with respect to the business of the Company and its subsidiaries, the
Registration Statement, Prospectus and documents incorporated by reference or
deemed incorporated by reference, if any, in each case, in form, substance and
scope as are customarily made by issuers to underwriters in underwritten
offerings and confirm the same if and when requested, (ii) obtain opinions of
counsel to the Company (which counsel and opinions, in form, scope and
substance, shall be reasonably satisfactory to a representative designated by
the Majority Shelf Holders and such Underwriters and their respective counsel)
addressed to each selling Holder and Underwriter of Registrable Securities,
covering the matters customarily covered in opinions requested in underwritten
offerings, (iii) obtain "cold comfort" letters from the independent certified
public accountants of the Company (and, if necessary, any other certified public
accountant of any subsidiary of the Company, or of any business acquired by the
Company for which financial statements and financial data are or are required to
be included in the Registration Statement) addressed to each selling Holder and
Underwriter of Registrable Securities, such letters to be in customary form and
covering matters of the type customarily covered in "cold comfort" letters in
connection with underwritten offerings, and (iv) deliver such documents and
certificates as may be reasonably requested by the Majority Shelf Holders or the
Underwriters, and which are customarily delivered in underwritten offerings, to
evidence the continued validity of the representations and

                                       11
<PAGE>

warranties of the Company made pursuant to clause (i) above and to evidence
compliance with any customary conditions contained in an underwriting agreement.

          In the case of a Shelf Registration Statement, the Company may require
each Shelf Holder to furnish to the Company such information regarding the Shelf
Holder and the proposed distribution by such Shelf Holder as the Company may
from time to time reasonably request in writing.

          In the case of a Shelf Registration Statement, each Holder agrees
that, upon receipt of any notice from the Company of the happening of any event
of the kind described in Section 3(e)(v) hereof, such Holder will forthwith
discontinue disposition of Registrable Securities pursuant to a Registration
Statement until such Shelf Holder's receipt of the copies of the supplemented or
amended Prospectus contemplated by Section 3(i) hereof, and, if so directed by
the Company, such Shelf Holder will deliver to the Company (at its expense) all
copies in its possession, other than permanent file copies then in such Shelf
Holder's possession, of the Prospectus covering such Registrable Securities
current at the time of receipt of such notice.  If the Company shall give any
such notice to suspend the disposition of Registrable Securities pursuant to a
Shelf Registration Statement, the Company shall extend the period during which
the Shelf Registration Statement shall be maintained effective pursuant to this
Agreement by the number of days during the period from and including the date of
the giving of such notice to and including the date when the Shelf Holders shall
have received copies of the supplemented or amended Prospectus necessary to
resume such dispositions.

          The Shelf Holders who desire to do so may sell such Registrable
Securities in an Underwritten Offering.  In any such Underwritten Offering, the
investment banker or investment bankers and manager or managers (the
"Underwriters") that will administer the offering will be selected by the
 ------------
Majority Holders of the Registrable Securities included in such offering.

          4.   Participation of Broker-Dealers in Exchange Offer.
               --------------------------------------------------

          (a) The staff of the SEC has taken the position that any broker-dealer
that receives Exchange Securities for its own account in the Exchange Offer in
exchange for Securities that were acquired by such broker-dealer as a result of
market-making or other trading activities (a "Participating Broker-Dealer") may
be deemed to be an "underwriter" within the meaning of the 1933 Act and must
deliver a prospectus meeting the requirements of the 1933 Act in connection with
any resale of such Exchange Securities.

          The Company understands that it is the staff's position that if the
Prospectus contained in the Exchange Offer Registration Statement includes a
plan of distribution containing a statement to the above effect and the means by
which Participating Broker-Dealers may resell the Exchange Securities, without
naming the Participating Broker-Dealers or specifying the amount of Exchange
Securities owned by them, such Prospectus may be delivered by Participating
Broker-Dealers to satisfy their prospectus delivery obligation under the 1933
Act

                                       12
<PAGE>

in connection with resales of Exchange Securities for their own accounts, so
long as the Prospectus otherwise meets the requirements of the 1933 Act.

          (b) In light of the above, notwithstanding the other provisions of
this Agreement, the Company agrees that the provisions of this Agreement as they
relate to a Shelf Registration shall also apply to an Exchange Offer
Registration to the extent, and with such reasonable modifications thereto as
may be, reasonably requested by the Placement Agents or by one or more
Participating Broker-Dealers, in each case as provided in clause (ii) below, in
order to expedite or facilitate the disposition of any Exchange Securities by
Participating Broker-Dealers consistent with the positions of the staff of the
SEC recited in Section 4(a) above; provided that:
                                   --------

          (i)   the Company shall not be required to amend or supplement the
     Prospectus contained in the Exchange Offer Registration Statement, as would
     otherwise be contemplated by Section 3(i), for a period exceeding 180 days
     after the last Exchange Date and Participating Broker-Dealers shall not be
     authorized by the Company to deliver and shall not deliver such Prospectus
     after such period in connection with the resales contemplated by this
     Section 4; and

          (ii)  the application of the Shelf Registration procedures set forth
     in Section 3 of this Agreement to an Exchange Offer Registration, to the
     extent not required by the positions of the staff of the SEC or the 1933
     Act and the rules and regulations thereunder, will be in conformity with
     the reasonable request to the Company by the Placement Agents or with the
     reasonable request in writing to the Company by one or more broker-dealers
     who certify to the Placement Agents and the Company in writing that they
     anticipate that they will be Participating Broker-Dealers; and provided
                                                                    --------
     further that, in connection with such application of the Shelf Registration
     -------
     procedures set forth in Section 3 to an Exchange Offer Registration, the
     Company shall be obligated (x) to deal only with two entities representing
     the Participating Broker-Dealers, which shall be Banc of America Securities
     LLC and Morgan Stanley & Co. Incorporated unless both elect not to act as
     such representative, in which case representation shall be designated by
     Participating Broker-Dealers holding a majority in principal amount of all
     Securities held by Participating Broker-Dealers (y) to pay the fees and
     expenses of only one counsel representing the Participating Broker-Dealers,
     which shall be counsel to the Placement Agents unless such counsel elects
     not to so act and (z) to cause to be delivered only one, if any, "cold
     comfort" letter with respect to the Prospectus in the form existing on the
     last Exchange Date and with respect to each subsequent amendment or
     supplement, if any, effected during the period specified in clause (i)
     above.

          (c) The Placement Agents shall have no liability to the Company or any
Holder with respect to any request that it may make pursuant to Section 4(b)
above.

          5.    Indemnification and Contribution.
                ---------------------------------

                                       13
<PAGE>

          (a)  The Company and the Guarantor, jointly and severally, agree and
hold harmless the Placement Agents, each Holder and each Person, if any, who
controls any Placement Agent or any Holder within the meaning of either Section
15 of the 1933 Act or Section 20 of the 1934 Act, or is under common control
with, or is controlled by, any Placement Agent or any Holder, from and against
all losses, claims, damages and liabilities (including, without limitation, any
legal or other expenses reasonably incurred by any Placement Agent, any Holder
or any such controlling or affiliated Person in connection with defending or
investigating any such action or claim) caused by any untrue statement or
alleged untrue statement of a material fact contained in any Registration
Statement (or any amendment thereto) pursuant to which Exchange Securities or
Registrable Securities were registered under the 1933 Act, including all
documents incorporated therein by reference, or caused by any omission or
alleged omission to state therein a material fact required to be stated therein
or necessary to make the statements therein not misleading, or caused by any
untrue statement or alleged untrue statement of a material fact contained in any
Prospectus (as amended or supplemented if the Company or the Guarantor shall
have furnished any amendments or supplements thereto), or caused by any omission
or alleged omission to state therein a material fact necessary to make the
statements therein in light of the circumstances under which they were made not
misleading, except insofar as such losses, claims, damages or liabilities are
caused by any such untrue statement or omission or alleged untrue statement or
omission based upon information relating to the Placement Agents or any Holder
furnished to the Company in writing through Banc of America Securities LLC and
Morgan Stanley & Co. Incorporated or any Holder expressly for use therein,
provided, however, that the foregoing indemnity agreement with respect to any
preliminary Prospectus shall not inure to the benefit of any Holder from whom
the person asserting any such losses, claims, damages or liabilities purchased
Securities, or any person controlling such Holder, if a copy of the final
Prospectus (as then amended or supplemented if the Company shall have furnished
any amendments or supplements thereto) was not sent or given by or on behalf of
such Holder to such person, if required by law so to have been delivered, at or
prior to the written confirmation of the sale of the Securities to such person,
and if the final Prospectus (as so amended or supplemented) would have cured the
defect giving rise to such losses, claims, damages or liabilities, unless such
failure is the result of the Company to provide such Holder with as many copies
of such final Prospectus as such Holder may reasonably request. In connection
with any Underwritten Offering permitted by Section 3, the Company and the
Guarantor, jointly and severally, will also indemnify the Underwriters, if any,
selling brokers, dealers and similar securities industry professionals
participating in the distribution, their officers and directors and each Person
who controls such Persons (within the meaning of the 1933 Act and the 1934 Act)
to the same extent as provided above with respect to the indemnification of the
Holders, if requested in connection with any Registration Statement.

          (b)  Each Holder agrees, severally and not jointly, to indemnify and
hold harmless the Company, the Guarantor, each Placement Agent and the other
selling Holders, and each of their respective directors, officers of the Company
or the Guarantor who sign the Registration Statement and each Person, if any,
who controls the Company, the Guarantor, any Placement

                                       14
<PAGE>

Agent and any other selling Holder within the meaning of either Section 15 of
the 1933 Act or Section 20 of the 1934 Act to the same extent as the foregoing
indemnity from the Company to the Placement Agents and the Holders, but only
with reference to information relating to such Holder furnished to the Company
in writing by such Holder expressly for use in any Registration Statement (or
any amendment thereto) or any Prospectus (or any amendment or supplement
thereto).

          (c)  In case any proceeding (including any governmental investigation)
shall be instituted involving any Person in respect of which indemnity may be
sought pursuant to either paragraph (a) or paragraph (b) above, such Person (the
"indemnified party") shall promptly notify the Person against whom such
indemnity may be sought (the "indemnifying party") in writing and the
indemnifying party, upon request of the indemnified party, shall retain counsel
reasonably satisfactory to the indemnified party to represent the indemnified
party and any others the indemnifying party may designate in such proceeding and
shall pay the fees and disbursements of such counsel related to such proceeding.
The Company may assume at its sole expense the defense of any such litigation or
proceeding; such defense shall be conducted by counsel reasonably satisfactory
to such indemnified person and the Company shall pay the fees and disbursements
of such counsel related to such proceeding. Notwithstanding the foregoing, in
any such proceeding, any indemnified party shall have the right to retain its
own counsel and assume its own defense in such proceeding, but the fees and
expenses of such counsel shall be at the expense of such indemnified party
unless (i) the indemnifying party and the indemnified party shall have mutually
agreed to the retention of such counsel or (ii) the named parties to any such
proceeding (including any impleaded parties) include both the indemnifying party
and the indemnified party and representation of both parties by the same counsel
would be inappropriate due to actual or potential differing interests between
them. It is understood that the indemnifying party shall not, in connection with
any proceeding or related proceedings in the same jurisdiction, be liable for
(a) the fees and expenses of more than one separate firm (in addition to any
local counsel reasonably satisfactory to the indemnifying party) for the
Placement Agents and all Persons, if any, who control any Placement Agent within
the meaning of either Section 15 of the 1933 Act or Section 20 of the 1934 Act,
(b) the fees and expenses of more than one separate firm (in addition to any
local counsel) for the Company, its directors, its officers who sign the
Registration Statement and each Person, if any, who controls the Company within
the meaning of either such Section and (c) the fees and expenses of more than
one separate firm (in addition to any local counsel) for all Holders and all
Persons, if any, who control any Holders within the meaning of either such
Section, and that all such fees and expenses shall be reimbursed as they are
incurred. In such case involving the Placement Agents and Persons who control
the Placement Agents, such firm shall be designated in writing by Banc of
America Securities LLC, and Morgan Stanley & Co. Incorporated. In such case
involving the Holders and such Persons who control Holders, such firm shall be
designated in writing by the Majority Holders. In all other cases, such firm
shall be designated by the Company. The indemnifying party shall not be liable
for any settlement of any proceeding effected without its written consent but,
if settled with such consent or if there be a final judgment for the plaintiff,
the indemnifying party agrees to

                                       15
<PAGE>

indemnify the indemnified party from and against any loss or liability by reason
of such settlement or judgment. Notwithstanding the foregoing sentence, if at
any time an indemnified party shall have requested an indemnifying party to
reimburse the indemnified party for fees and expenses of counsel as contemplated
by the second and third sentences of this paragraph, the indemnifying party
agrees that it shall be liable for any settlement of any proceeding effected
without its written consent if (i) such settlement is entered into more than 45
days after receipt by such indemnifying party of the aforesaid request and (ii)
such indemnifying party shall not have reimbursed the indemnified party for such
fees and expenses of counsel in accordance with such request prior to the date
of such settlement. No indemnifying party shall, without the prior written
consent of the indemnified party, effect any settlement of any pending or
threatened proceeding in respect of which such indemnified party is or could
have been a party and indemnity could have been sought hereunder by such
indemnified party, unless such settlement includes an unconditional release of
such indemnified party from all liability on claims that are the subject matter
of such proceeding.

          (d)  If the indemnification provided for in paragraph (a) or paragraph
(b) of this Section 5 is unavailable to an indemnified party or insufficient in
respect of any losses, claims, damages or liabilities, then each indemnifying
party under such paragraph, in lieu of indemnifying such indemnified party
thereunder, shall contribute to the amount paid or payable by such indemnified
party as a result of such losses, claims, damages or liabilities in such
proportion as is appropriate to reflect the relative fault of the indemnifying
party or parties on the one hand and of the indemnified party or parties on the
other hand in connection with the statements or omissions that resulted in such
losses, claims, damages or liabilities, as well as any other relevant equitable
considerations. The relative fault of such indemnifying party and such
indemnified party shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information
supplied by such indemnifying party or such indemnified party and the parties'
relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission. The Holders' respective obligations to
contribute pursuant to this Section 5(d) are several in proportion to the
respective principal amount of Registrable Securities of such Holder that were
registered pursuant to a Registration Statement.

          (e)  The parties hereto agree that it would not be just or equitable
if contribution pursuant to this Section 5 were determined by pro rata
                                                              --- ----
allocation or by any other method of allocation that does not take account of
the equitable considerations referred to in paragraph (d) above. The amount paid
or payable by an indemnified party as a result of the losses, claims, damages
and liabilities referred to in paragraph (d) above shall be deemed to include,
subject to the limitations set forth above, any legal or other expenses
reasonably incurred by such indemnified party in connection with investigating
or defending any such action or claim. Notwithstanding the provisions of this
Section 5, no Holder shall be required to indemnify or contribute any amount in
excess of the amount by which the total price at which Registrable Securities
were sold by such Holder exceeds the amount of any damages that such Holder has

                                       16
<PAGE>

otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission. No Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be
entitled to contribution from any Person who was not guilty of such fraudulent
misrepresentation. The remedies provided for in this Section 5 are not exclusive
and shall not limit any rights or remedies which may otherwise be available to
any indemnified party at law or in equity.

          The indemnity and contribution provisions contained in this Section 5
shall remain operative and in full force and effect regardless of (i) any
termination of this Agreement, (ii) any investigation made by or on behalf of
any Placement Agent, any Holder or any Person controlling any Placement Agent or
any Holder, or by or on behalf of the Company, its officers or directors or any
Person controlling the Company, (iii) acceptance of any of the Exchange
Securities and (iv) any sale of Registrable Securities pursuant to a Shelf
Registration Statement.

          6.    Miscellaneous.
                --------------

          (a) No Inconsistent Agreements. The Company has not entered into, and
              --------------------------
on or after the date of this Agreement will not enter into, any agreement which
is inconsistent with the rights granted to the Holders of Registrable Securities
in this Agreement or otherwise conflicts with the provisions hereof. The rights
granted to the Holders hereunder do not in any way conflict with and are not
inconsistent with the rights granted to the holders of the Company's other
issued and outstanding securities under any such agreements.

          (b) Amendments and Waivers. The provisions of this Agreement,
              ----------------------
including the provisions of this sentence, may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof
may not be given unless the Company has obtained the written consent of Holders
of at least a majority in aggregate principal amount of the outstanding
Registrable Securities affected by such amendment, modification, supplement,
waiver or consent; provided, however, that no amendment, modification,
                   --------  -------
supplement, waiver or consent to any departure from the provisions of Section 5
hereof shall be effective as against any Holder of Registrable Securities unless
consented to in writing by such Holder.

          (c) Notices.  All notices and other communications provided for or
              -------
permitted hereunder shall be made in writing by hand-delivery, registered first-
class mail, telex, telecopier, or any courier guaranteeing overnight delivery
(i) if to a Holder, at the most current address given by such Holder to the
Company by means of a notice given in accordance with the provisions of this
Section 6(c), which address initially is, with respect to the Placement Agents,
the address set forth in the Placement Agreement; and (ii) if to the Company,
initially at the Company's address set forth in the Placement Agreement and
thereafter at such other address, notice of which is given in accordance with
the provisions of this Section 6(c).

          All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; five business
days after being deposited in

                                       17
<PAGE>

the mail, postage prepaid, if mailed; when answered back, if telexed; when
receipt is acknowledged, if telecopied; and on the next business day if timely
delivered to an air courier guaranteeing overnight delivery.

          Copies of all such notices, demands, or other communications shall be
concurrently delivered by the Person giving the same to the Trustee, at the
address specified in the Indenture.

          (d) Successors and Assigns.  This Agreement shall inure to the benefit
              ----------------------
of and be binding upon the successors, assigns and transferees of each of the
parties, including, without limitation and without the need for an express
assignment, subsequent Holders; provided that nothing herein shall be deemed to
                                --------
permit any assignment, transfer or other disposition of Registrable Securities
in violation of the terms of the Placement Agreement. If any transferee of any
Holder shall acquire Registrable Securities, in any manner, whether by operation
of law or otherwise, such Registrable Securities shall be held subject to all of
the terms of this Agreement, and by taking and holding such Registrable
Securities such Person shall be conclusively deemed to have agreed to be bound
by and to perform all of the terms and provisions of this Agreement and such
Person shall be entitled to receive the benefits hereof. The Placement Agents
(in their capacity as Placement Agents) shall have no liability or obligation to
the Company with respect to any failure by a Holder to comply with, or any
breach by any Holder of, any of the obligations of such Holder under this
Agreement.

          (e) Purchases and Sales of Securities. The Company shall not, and
              ---------------------------------
shall use its best efforts to cause its affiliates (as defined in Rule 405 under
the 1933 Act) not to, purchase and then resell or otherwise transfer any
Securities.

          (f) Third Party Beneficiary.  The Holders shall be third party
              -----------------------
beneficiaries to the agreements made hereunder between the Company, on the one
hand, and the Placement Agents, on the other hand, and shall have the right to
enforce such agreements directly to the extent it deems such enforcement
necessary or advisable to protect its rights or the rights of Holders hereunder.

          (g) Counterparts.  This Agreement may be executed in any number of
              ------------
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

          (h) Headings.  The headings in this Agreement are for convenience of
              --------
reference only and shall not limit or otherwise affect the meaning hereof.

          (i) Governing Law.  This Agreement shall be governed by the laws of
              -------------
the State of New York.

                                       18
<PAGE>

          (j) Severability.  In the event that any one or more of the provisions
              ------------
contained herein, or the application thereof in any circumstance, is held
invalid, illegal or unenforceable, the validity, legality and enforceability of
any such provision in every other respect and of the remaining provisions
contained herein shall not be affected or impaired thereby.

                                       19
<PAGE>

          IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first written above.

                                        COAST HOTELS AND CASINOS, INC.

                                        By ____________________________________
                                           Name:
                                           Title:

                                        COAST RESORTS, INC.

                                        By ____________________________________
                                           Name:
                                           Title:

Confirmed and accepted as of
 the date first above written:

BANC OF AMERICA SECURITIES LLC
MORGAN STANLEY & CO. INCORPORATED

By: Banc of America Securities LLC

By:__________________________________
   Bruce R. Thompson
   Managing Director

               [Signature Page to Registration Rights Agreement]

                                       20

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00020-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00020-of-00352.parquet"}]]