Document:

Exhibit 4.1

 

AMENDMENT NO. 2

TO SECOND AMENDED AND RESTATED LOAN
AGREEMENT

 

 

This Amendment No. 2 to Second Amended and
Restated Loan Agreement (this “Amendment”) dated as of September 10, 2003 is
made with reference to the Second Amended and Restated Loan Agreement, dated as
of June 29, 2001, as amended by Amendment No. 1 to Second Amended and Restated
Loan Agreement dated as of December 31, 2001 (as so amended, the “Loan
Agreement”), among Eldorado Resorts LLC (the “Borrower”), the Banks referred to
therein, and Bank of America, N.A., as Administrative Agent. Capitalized terms
used in this Amendment but not defined herein are used with the meanings set
forth for those terms in the Loan Agreement. The Borrower and the
Administrative Agent, acting on behalf of the Majority Banks in accordance with
Section 11.2 of the Loan Agreement hereby agree as follows:

 

1.             Amendment
of Section 2.5.  Section 2.5 of the
Loan Agreement is hereby amended and restated in its entirety to read as
follows:

 

“2.5 
Automatic Reductions of Commitment.  The Commitment shall automatically reduce by the amount of
$1,000,000 on December 31, 2004 and on each Reduction Date thereafter.”

 

2.             Voluntary
Reduction of Commitments. Pursuant to Section 2.6 of the Loan Agreement,
the Borrower agrees that as of the effective date of this Amendment the
Commitment shall be permanently reduced to $30,000,000.

 

3.             Amendment
of Section 6.1. Clause (iv) of Section 6.1 of the Loan Agreement is hereby
amended and restated in its entirety to read as follows:

 

“(iv) the aggregate amount of any such
payment pursuant to clause (a) above does not then or will not as a result of
the making of such payment exceed the sum of (A) $40,160,000 plus (B) up
to $5,000,000 of proceeds from Permitted Dispositions completed after August
15, 2003.”

 

4.             Conditions
Precedent. The effectiveness of this Amendment shall be subject to the
conditions precedent that:

 

(a) The Administrative Agent shall have
received counterparts of this Amendment executed by Borrower;

 

(b) Eldorado Capital, which has guaranteed
the Obligations of   the Borrower, shall
have executed a written consent hereto in the form of Exhibit A hereto; and

 

(c) The Administrative Agent shall have
received written consents hereto from all of the Banks substantially in the
form of Exhibit B hereto.

 

5.             Representation.
The Borrower hereby represents and warrants to the Agent and the Banks that (a)
no Default or Event of Default has occurred under the Loan Agreement and
remains continuing, (b) the representations and warranties in the Loan
Agreement are true as of

 

 

the date of this Amendment (except to the
extent such representations and warranties expressly refer to an earlier date,
in which case they shall be true and correct as of such earlier date), and (c)
this Amendment does not conflict with any law, agreement or obligation by which
the Borrower is bound.

 

6.             Expenses.
The Borrower confirms its obligations to pay the reasonable expenses of the
Administrative Agent in connection with the preparation of this Amendment.

 

7.             Counterparts.
This Amendment may be executed in as many counterparts as necessary or
convenient, and by the different parties on separate counterparts each of
which, when so executed, shall be deemed an original but all such counterparts
shall constitute but one and the same agreement.

 

8.             Confirmation.
In all other respects, the terms of the Loan Agreement and the Loan Documents
executed in connection therewith are hereby confirmed.

 

 

 

IN WITNESS WHEREOF, the parties hereto have
executed this Amendment as of the date first written above by their duly
authorized representative.

	
   

  	
  BORROWER:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ELDORADO RESORTS LLC,

  
	
   

  	
  a Nevada limited liability

  	
   

  
	
   

  	
  company

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Donald L. Carano

  
	
   

  	
  Title:

  	
   CEO

  
	
   

  	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N.A.,

  
	
   

  	
  as Administrative Agent

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Gina Meador

  
	
   

  	
  Gina Meador, Vice President

  
					

 

 

 

Exhibit A

 

CONSENT OF GUARANTOR

 

 

                Reference
is hereby made to the Second Amended and Restated Loan Agreement, dated as of
June 29, 2001, as amended, among Eldorado Resorts, LLC, the Banks referred to
therein, and Bank of America, N.A., as Administrative Agent.  By executing this Consent of Guarantor,
Eldorado Capital Corp., a Nevada corporation, consents to the execution,
delivery and performance of that certain Amendment No. 2 to Second Amended and
Restated Loan Agreement dated as of September 10, 2003, and acknowledges that
the Amended and Restated Guaranty, dated as of June 29, 2001, executed by the
undersigned in favor of Bank of America, N.A., as Administrative Agent, and the
Banks referred to therein, remains in full force and effect.

 

 

	
  Dated: September 10, 2003

  
	
   

  
	
  ELDORADO CAPITAL CORP.,

  
	
  a Nevada corporation

  
	
   

  
	
  By:

  	
   /s/ Donald L. Carano

  
	
  Title:

  	
   CEO

  
			

 

 

 

Exhibit B

 

CONSENT OF LENDER

 

The Consent of Leader is executed by the undersigned
Lender with reference to that certain Second Amended and Restated Loan
Agreement, dated as of June 29, 2001, as amended, among Eldorado Resorts LLC,
the Banks referred to therein, and Bank of America, N.A., as Administrative
Agent. The undersigned hereby consents to the execution, delivery and
performance of Amendment No. 2 to Second Amended and Restated Loan Agreement,
substantially in the form presented to the undersigned as a draft.

 

	
  Bank of America, N.A.

  
	
  [Name of Lender]

  
	
   

  
	
  By:

  	
   /s/ Scott Faber

  
	
  Title:

  	
  Managing Director

  
	
   

  
	
  Dated: September 10, 2003

  
			

 

 

 

Exhibit B

 

CONSENT OF LENDER

 

The Consent of Leader is executed by the
undersigned Lender with reference to that certain Second Amended and Restated
Loan Agreement, dated as of June 29, 2001, as amended, among Eldorado Resorts
LLC, the Banks referred to therein, and Bank of America, N.A., as
Administrative Agent. The undersigned hereby consents to the execution,
delivery and performance of Amendment No. 2 to Second Amended and Restated Loan
Agreement, substantially in the form presented to the undersigned as a draft.

 

	
  U.S Bank, N.A.

  
	
  [Name of Lender]

  
	
   

  
	
  By:

  	
   /s/ Mark McVeigh

  
	
  Title:

  	
   Vice President

  
	
   

  
	
  Dated: September 10, 2003Exhibit 4.2

 

WHITEWATER PARK — PROMISSORY NOTE

 

FOR VALUE RECEIVED, at the times hereinafter
stated, the undersigned (“Borrower”) promises to pay Eldorado Resorts, LLC,
(“Lender”), at 345 North Virginia Street, Reno, Nevada, or such other place as
Lender may from time to time designate in writing, in legal tender of the
United States of America, the principal sum of Five Hundred Thousand Dollars
($500,000.00), or so much thereof as may be advanced (the “Loan Amount”)
pursuant to the following terms and conditions.

 

Borrower shall hold the Loan Amount in an
internal trust account and not integrate it into its other accounts, including
its general fund account.  The Loan
Amount is restricted in its use and shall not be utilized for any purpose
except as provided for in this promissory note.  The Loan Amount is provided to Borrower for the purpose of
funding the construction of improvements and related expenses for the
Whitewater Park to be located in the Truckee River adjacent to Wingfield Park,
Reno, Nevada (hereafter referred to as “Whitewater Park”) until such time as
bond funds are received by the City in accordance with State Ballot Question 1,
which was approved by the voters of the State of Nevada on November 5, 2002,
(hereafter referred to as “Question 1”).

 

Since the Whitewater Park was designated as
an approved project by the Washoe County Commissioners on July 15, 2003,
Borrower anticipates receiving funding from Question 1 on or before November 1,
2003.  If Borrower receives the bond
funds from Question 1 as anticipated, Borrower promises to pay the Loan Amount,
with no interest, to Lender on or before November 30, 2003.

 

If Borrower does not pay the Loan Amount on
or before November 30, 2003, Borrower agrees to repay the Loan Amount, together
with interest thereon at the rate of 5% per annum on the unpaid balance.  In such event, said sum shall be calculated
and paid in the following manner:

 

All
principal and interest shall be due and payable on or before January 30,
2004.  Interest charged to Borrower
shall be computed commencing on the date the Loan Amount is received by
Borrower and shall continue until such times as all principal and interest is
paid under the terms of this promissory note. 
Furthermore, the rate of interest charged hereunder shall be computed
based upon a 365-day year and the actual days elapsed.

 

All
payments shall be first applied to interest, if any, and the balance to
principal.  This promissory note may be
prepaid, at any time, in whole or part, without penalty.

 

In
the event this promissory note shall be in default, and placed with an attorney
for collection, then the undersigned agrees to pay all reasonable attorney fees
and costs of collection.  All payments
hereunder shall be made to the address designated above, or to such address as
may from time to time be designated in writing by Lender.

 

 

1

 

This
promissory note shall be construed and enforced in accordance with the laws of
the State of Nevada and any litigation pertaining to this promissory note will
be commenced in the District Court for the State of Nevada located in Reno,
Nevada.

 

	
  CITY OF RENO

  
	
   

  
	
    /s/
  Robert A. Cashell

  
	
  Robert
  A. Cashell, Sr., Mayor

  
	
   

  
	
  Date:

  	
    8/21/03

  	
   

  
	
   

  
	
  ATTEST:

  
	
   

  
	
    /s/
  Lynette R. Jones

  
	
  City
  Clerk

  
	
   

  
	
  APPROVED
  AS TO FROM:

  
	
   

  
	
    /s/
  Tracy L. Chase

  
	
  City
  Attorney’s Office

  

 

 

2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00058-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00058-of-00352.parquet"}]]