Document:

Amendment and Waiver to Interim Loan Agreement

 Exhibit 10.1 
 AMENDMENT AND WAIVER TO INTERIM LOAN AGREEMENT 
 AMENDMENT AND WAIVER, dated as of March 26,
2009 (this “Amendment and Waiver”), to the Senior Unsecured Interim Loan Agreement, dated as of January 28, 2008 (as amended, amended and restated, modified or supplemented from time to time, the “Interim Loan
Agreement”), among Harrah’s Operating Company, Inc., a Delaware corporation (the “Borrower”), the lenders from time to time party thereto (the “Lenders”), Citibank, N.A., as administrative agent (in
such capacity, the “Administrative Agent”) and the other parties named therein. 
 WITNESSETH: 
 WHEREAS, pursuant to the Interim Loan Agreement, the Lenders have extended credit to the Borrower on the terms and conditions set forth in the Interim
Loan Agreement; 
 WHEREAS, the Borrower is considering negotiating transactions with individual Lenders from time to time to buy back Loans
at prices below par (which offers may not be made to all Lenders on a pro rata basis or may not be made to Lenders at the same offer prices or with the same consideration), such buybacks to be in the form of voluntary prepayments of the Loans held
by specific Lenders by the Borrower on a non-pro rata basis (“Buybacks”); 
 WHEREAS, the Required Lenders have consented to
waive or amend certain provisions of the Interim Loan Agreement on the terms and conditions contained herein in order to permit Buybacks; 
 WHEREAS, Section 9.08 of the Interim Loan Agreement provides that the Interim Loan Agreement may be amended, in the case of any amendment that is also obtained with respect to the corresponding provision in the Senior Unsecured Notes
Indenture, with the consent of Lenders having Loans and holders of Senior Unsecured Notes representing more than 50% of the sum of all Loans and Senior Unsecured Notes outstanding; and 
 WHEREAS, the Borrower desires to amend the Interim Loan Agreement in certain respects as permitted by Section 9.08 of the Interim Loan Agreement.

 NOW, THEREFORE, the parties hereto hereby agree as follows: 
 ARTICLE I 
 Definitions 
 Section 1.1 Defined Terms. Terms defined in the Interim Loan Agreement and used herein shall have the meanings given to them in the Interim Loan Agreement unless otherwise defined herein or the context
otherwise requires. 
  

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 ARTICLE II  
 Amendment and Waiver 
 Section 2.1 Waiver. 
 (a) The Borrower shall conduct all Buybacks on an arms’ length basis and (i) the amount of the consideration paid for the Loans in any Buyback
shall be a percentage of the par principal amount (the “Discount”) to be individually negotiated and agreed with the counterparty in such Buyback (the “Counterparty”) and (ii) the form of consideration paid for
the Loans in any Buyback shall be a form (which may be cash or non-cash) to be individually negotiated and agreed with the Counterparty. 
 (b) As a condition precedent to the consummation of each Buyback, the Borrower shall have delivered to the Administrative Agent at the consummation of each Buyback a certificate of a Responsible Officer of the Borrower stating (x) that
no Default or Event of Default has occurred and is continuing under the Interim Loan Agreement and (y) the aggregate principal amount of Loans so prepaid pursuant to such Buyback. 
 (c) Each Buyback shall be consummated pursuant to procedures agreed to by the Borrower and the Counterparty; provided that the Administrative
Agent may establish procedures with respect to mechanical provisions relating to such Buyback, including, without limitation, timing, rounding and minimum amounts. 
 (d) Each Buyback shall constitute a voluntary prepayment of Loans for all purposes under the Interim Loan Agreement (it being understood at no time shall the Borrower be able to exercise voting rights in respect of
Loans subject to a Buyback). 
 (e) The Required Lenders hereby consent to the transactions described in this Section 2.1
notwithstanding anything to the contrary in the Interim Loan Agreement and hereby waive the requirements of any provision of the Interim Loan Agreement (including, without limitation, Sections 2.11 or 2.18) that might otherwise
prohibit any Buyback, result in a Default or an Event of Default as a result of the Buyback or require the ratable sharing of proceeds received by Lenders from any Buyback. The Required Lenders further acknowledge and agree that following a Buyback,
(i) interest in respect of Loans may be made on a non-pro rata basis among the applicable Lenders to reflect the payment of accrued interest to certain Lenders in a Buyback and (ii) all subsequent prepayments and repayments of Loans
(other than a Buyback) shall be made on a pro rata basis among the Lenders holding Loans (based upon the then outstanding principal amounts of the Loans of such Lenders after giving effect to any Buyback as if made at the applicable
prepayment premium otherwise set forth in the Interim Loan Agreement). 
 (f) This Amendment and Waiver shall neither (i) require the
Borrower to undertake any Buyback nor (ii) limit or restrict the Borrower from making voluntary prepayments of the Loans in accordance with the provisions of the Interim Loan Agreement as in effect prior to the Buyback Amendment and Waiver
Effective Date (as defined below). 
 Section 2.2 Amendments. 
 (a) Section 2.18(c) of the Interim Loan Agreement is hereby amended by deleting from clause (ii) of the proviso thereto “other than to the
Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph (c) shall apply)” and replacing it with the following language: 
 “including to the Borrower or any Subsidiary or Affiliate thereof”. 
  

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 (b) the Interim Loan Agreement is hereby amended by deleting the following sections and all references
thereto in their entirety: 
  

			
	“Section 5.01 (Reports and Other Information)
	
	Section 5.02 (Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock)
	
	Section 5.03 (Limitation on Restricted Payments)
	
	Section 5.04 (Dividend and Other Payment Restrictions Affecting Subsidiaries)
	
	Section 5.05 (Transactions with Affiliates)
	
	Section 5.06 (Change of Control)
	
	Section 5.07 (Compliance Certificate)
	
	Section 5.09 (Future Guarantors)
	
	Section 5.10 (Liens)
	
	Sections 5.12 (a)(iii), 5.12(a)(iv) and 5.12(a)(vi) (Merger, Amalgamation, Consolidate or Sale of All or Substantially All Assets)

	
	Section 5.13 (Asset Sales) and Section 2.11(b)(ii) (Prepayments–mandatory prepayment upon Asset Sales)
	
	Article VI (Covenant Suspension)
	
	Sections 7.01 (c), 7.01(d), 7.01(e), 7.01(f) and 7.01(g) (Events of Default)”.

 (c) Section 1.01 of the Interim Loan Agreement is hereby amended to delete in their entirety
all terms and their respective definitions for which all references are eliminated in the Interim Loan Agreement as a result of the amendments set forth in Section 2.2(b) of this Amendment and Waiver. 
 Section 2.3 Conditions to Effectiveness. 
 (a) This Amendment and Waiver shall become effective with respect to the amendments and waivers set forth in Section 2.1 and Section 2.2(a) on the date (the “Buyback Amendment and Waiver Effective
Date”) on which: 
 (i) The Administrative Agent shall have received this Amendment and Waiver, executed and
delivered by a duly authorized officer of the Borrower; and 
 (ii) the Administrative Agent shall have received evidence of
consent of Lenders having Loans representing more than 50% of the sum of all Loans outstanding on the Buyback Amendment and Waiver Effective Date. 
  

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 (b) This Amendment and Waiver shall become effective with respect to the amendments set forth in
Section 2.2(b) and Section 2.2(c) on the date (the “Covenant Amendment Effective Date”) on which: 
 (i) The Administrative Agent shall have received this Amendment and Waiver, executed and delivered by a duly authorized officer of the Borrower; and 
 (ii) the Administrative Agent shall have received evidence of consent of Lenders having Loans and holders of Senior Unsecured Notes
representing more than 50% of the sum of all Loans and Senior Unsecured Notes outstanding on the Covenant Amendment Effective Date. 
 Section 2.4 Continuing Effect; No Other Amendments or Waivers. This Amendment and Waiver shall not constitute an amendment or waiver of or consent to any provision of the Interim Loan Agreement and the other Loan
Documents except as expressly stated herein and shall not be construed as an amendment, waiver or consent to any action on the part of the Borrower that would require an amendment, waiver or consent of the Administrative Agent or the Lenders except
as expressly stated herein. Except as expressly waived hereby, the provisions of the Interim Loan Agreement and the other Loan Documents are and shall remain in full force and effect in accordance with their terms. The amendments and waivers to be
effected on the Buyback Amendment and Waiver Effective Date shall be effective on such date notwithstanding the occurrence or non-occurrence of the Covenant Amendment Effective Date. The amendments to be effective on the Covenant Amendment Effective
Date shall be effective on such date notwithstanding the occurrence or non-occurrence of the Buyback Amendment and Waiver Effective Date. 
 Section 2.5 Severability. In case any provision in this Amendment and Waiver 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 2.6 Counterparts. This Amendment and Waiver may be executed in any number of separate
counterparts by the parties hereto (including by telecopy or via electronic mail), each of which counterparts when so executed shall be an original, but all the counterparts shall together constitute one and the same instrument. 
 Section 2.7 GOVERNING LAW. THIS AMENDMENT AND WAIVER AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT AND WAIVER SHALL BE
GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 * * * 
  

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

			
	HARRAH’S OPERATING COMPANY, INC.
		
	By:	 	 /s/ Gary W. Loveman

	Name:	 	Gary W. Loveman
	Title:	 	President and Chief Executive Officer

			
	CITIBANK, N.A., as Administrative Agent
		
	By:	 	 /s/ Stuart G. Dickson

	Name:	 	Stuart G. Dickson
	Title:	 	Vice PresidentSecond Amendment to Indemnification Trust Agreement

 EXHIBIT 10.53 
 SECOND AMENDMENT to INDEMNIFICATION TRUST AGREEMENT, effective as of January 27, 2002 (“Second Amendment”), by and among J. C. Penney Company, Inc., a Delaware corporation, J. C. Penney
Corporation, Inc., a Delaware corporation (herein collectively called the “Company”), and JPMorgan Chase Bank (a successor to Chemical Bank) a bank organized and existing under the laws of the State of New York, as trustee
(“Trustee”). 
 J. C. Penney Corporation, Inc. (formerly known as J. C. Penney Company, Inc.) and Trustee have heretofore executed
an Indemnification Trust Agreement, dated as of July 30, 1986, as amended March 30, 1987 (“Trust Agreement”), for the benefit of the Indemnitees (as defined on page 1 of the Trust Agreement). Upon the approval of the
Representatives (as defined in Section 4(a) of the Trust Agreement), the Company and the Trustee now wish to amend the sections of the Trust Agreement described below to reflect changes in the organizational structure and names of both the
Company and the Trustee. 
 NOW, THEREFORE, the Company and the Trustee agree that: 
 1. The title page to the Trust Agreement shall be amended and restated in its entirety as follows: 
 INDEMNIFICATION TRUST AGREEMENT 
 by and among 
 J. C. PENNEY COMPANY, INC., 
 J. C. PENNEY
CORPORATION, INC. 
 and 
 JPMORGAN CHASE BANK 
 2. The first paragraph page 1 of the Trust Agreement shall be amended and restated in its entirety as follows: 
 INDEMNIFICATION TRUST AGREEMENT (“Trust Agreement”) dated as of July 30, 1986, as amended March 30, 1987, and amended
effective January 27, 2002, by and among J. C. Penney Company, Inc., a Delaware corporation, J. C. Penney Corporation, Inc., a Delaware company and wholly-owned subsidiary of J. C. Penney Company, Inc. (formerly known as J. C. Penney Company,
Inc.) (herein collectively called the “Company”), and JPMorgan Chase Bank, a bank organized and existing under the laws of the State of New York (formerly known as Chemical Bank), as trustee (“Trustee”), for the benefit of the
Indemnitees (as hereinafter defined), which Indemnitees shall be the beneficiaries of the trust created hereby (“Trust”). 

 3. Section 6(a) of the Trust Agreement shall be amended and restated in its entirety as follows: 
  

	 	(a)	For purposes of this Trust Agreement, “Change in Control” means a change in control of J. C. Penney Company, Inc. of a nature that would be required to be reported in
response to Item 6(e) of Schedule 14A (or in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934 (“Act”), whether or not J. C. Penney Company, Inc. is then subject to
such reporting requirement; provided, however, that without limitation, such a Change in Control shall be deemed to have occurred (irrespective of the applicability of the initial clause of this definition) if (i) any “person” (as
such term is used in Sections 13(d) and 14(d) of the Act, but excluding any employee benefit plan or employee stock plan of the Company or any subsidiary of the Company, or any entity organized, appointed, established or holding securities of the
Company with voting power for or pursuant to the terms of any such plan) is or becomes the “beneficial owner” (as defined in Rule 13d03 under the Act), directly or indirectly, of securities of the Company representing 35% or more of the
combined voting power of the Company’s then outstanding securities without the prior approval of at least two-thirds of the members of the Board of Directors of J. C. Penney Company, Inc. in office immediately prior to such person attaining
such interest; (ii) J. C. Penney Company, Inc. is party to a merger, consolidation, sale of assets or other reorganization, or proxy contest, as a consequence of which members of the Board of Directors of J. C. Penney Company, Inc. in office
immediately prior to such transaction or event constitute less than a majority of the Board of Directors of J. C. Penney Company, Inc. thereafter; or (iii) during any period of two consecutive years, individuals who at the beginning of such
period constituted the Board of Directors of J. C. Penney Company, Inc. (including for this purpose any new director whose election or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the
directors then still in office who were directors at the beginning of such period) cease for any reason to constitute at least a majority of the Board of Directors of J. C. Penney Company, Inc. 

  

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 4. The addresses of the Company and the Trustee in Section 9(i) of the Trust Agreement shall be amended and restated
in their entirety by the following: 
 if to J. C. Penney Company, Inc., to: 
 J. C. Penney Company, Inc. 
 6501 Legacy
Drive, MS 005 
 Plano, Texas 75024-3698 
 Attn: General Counsel 
 if to J. C. Penney Corporation, Inc., to: 
 J. C. Penney Corporation, Inc. 
 6501 Legacy
Drive, MS 005 
 Plano, Texas 75024-3698 
 Attention: General Counsel 
 if to the Trustee, to: 
 JPMorgan Chase Bank 
 1211 Avenue of the
Americas - 34th Floor 
 New York, NY 10036 
 Attn: Trust Administration Department 
 5. The addresses for written advice of each payment on Exhibit A to the Trust
Agreement shall be amended and restated in their entirety by the following: 
 J. C. Penney Company, Inc. 
 6501 Legacy Drive, MS 005 
 Plano, Texas
75024-3698 
 Attention: Chief Financial Officer 
     and 
 J. C. Penney Corporation, Inc. 
 6501 Legacy Drive, MS 005 
 Plano, Texas
75024-3698 
 Attention: Treasurer 
 This Second Amendment shall be governed by, and construed in accordance with the, the laws of the State of New York. 
  

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 IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of the date(s) set
forth below. 
  

							
		 	J. C. PENNEY COMPANY, INC.
			
	ATTEST	 	By	 	 /s/ C. R. Lotter

		 	Name	 	 Charles R. Lotter

		 	Title	 	 Executive Vice President, Secretary and General Counsel

		 	Date	 	 June 3, 2002

	By	 	 /s/ Jeffrey J. Vawrinek
	 		 	
	Name	 	 Jeffrey J. Vawrinek
	 		 	
	Title	 	 Assistant Secretary
	 		 	
	Date	 	 June 3, 2002
	 		 	
		 		 		 	
		 	J. C. PENNEY CORPORATION, INC.
			
	ATTEST	 	By	 	 /s/ C. R. Lotter

		 	Name	 	 Charles R. Lotter

		 	Title	 	 Executive Vice President, Secretary and General Counsel

		 	Date	 	 June 3, 2002

		 		 		 	
	By	 	 /s/ Jeffrey J. Vawrinek
	 		 	
	Name	 	 Jeffrey J. Vawrinek
	 		 	
	Title	 	 Vice President and Asst. Secretary
	 		 	
	Date	 	 June 3, 2002
	 		 	
		 		 		 	
		 	JPMORGAN CHASE BANK
			
	ATTEST	 	By	 	 /s/ Jonathan R. Miller

		 	Name	 	 Jonathan R. Miller

		 	Title	 	 Vice President

		 	Date	 	 05/17/02

		 		 		 	
	By	 	 /s/ June Ryan
	 		 	
	Name	 	 June Ryan
	 		 	
	Title	 	 Vice President
	 		 	
	Date	 	 May 17, 2002
	 		 	

  

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 APPROVAL OF THE REPRESENTATIVES 
 Second Amendment to 
 Indemnification Trust Agreement 
 effective January 27, 2002 
 We,
the undersigned, being Representatives, as defined in the Indemnification Trust Agreement between J. C. Penney Company, Inc. and JPMorgan Chase Bank (as successor to Chemical Bank), dated July 30, 1986, as amended March 30, 1987, and
amended effective January 27, 2002, hereby approve the Second Amendment of the Indemnification Trust Agreement effective January 27, 2002. 
 Dated
as of the date(s) set forth below. 
  

			
	By	 	 /s/ Thomas J. Engibous

	Name	 	 Thomas J. Engibous

	Date	 	 5-01-02

		
	By	 	 /s/ Vernon E. Jordan, Jr.

	Name	 	 Vernon E. Jordan, Jr.

	Date	 	 5-2-02

		
	By	 	 /s/ Jane C. Pfeiffer

	Name	 	 Jane C. Pfeiffer

	Date	 	 April 7, 2002

		
	By	 	 /s/ R. Gerald Turner

	Name	 	 R. Gerald Turner

	Date	 	 5/1/02

  

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