Document:

Exhibit 10.6(b)

 

AMENDMENT NO. 1

TO

LETTER AGREEMENT

 

This AMENDMENT NO. 1,
dated as of December 5, 2019 (this “Amendment”), to the LETTER AGREEMENT, dated as of December 1, 2017 (the “Original
Agreement”), is made by and among Leisure Acquisition Corp., a Delaware corporation (“Company”), and
the persons set forth on the signature page hereto. Capitalized terms used herein shall have the meanings given such terms in the
Original Agreement, as amended by this Amendment.

 

WITNESSETH:

 

WHEREAS, the parties
hereto entered into the Original Agreement; and

 

WHEREAS, the parties
hereto desire to amend the Original Agreement to reflect the extension of the date until which the Company may consummate its Business
Combination (as defined in the Original Agreement) which the Company’s stockholders approved at a special meeting held on
November 26, 2019.

 

NOW THEREFORE, in consideration
of the mutual covenants, representations, warranties and agreements contained herein, and of other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, and intending to be bound hereby, the parties hereby agree as follows:

 

1. Amendment
of Section 2. Each of the three references to “24 months” set forth in Section 2 to the Original Agreement shall
be replaced with “28 months.”

 

2. Amendment
of Section 6(a). The reference to “24 months” set forth in Section 6(a) to the Original Agreement shall be replaced
with “28 months.”

 

3. Agreement
Affirmed. Except as expressly modified and superseded by this Amendment, all terms and provisions of the Original Agreement
shall remain unchanged and in full force and effect without modification, and nothing herein shall operate as a waiver of any party’s
rights, powers or privileges under the Original Agreement.

 

[Remainder of page intentionally left blank.]

 

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IN WITNESS WHEREOF, the
parties have caused this Amendment No. 1 to be executed as of the date first above written.

 

	 	HYDRA MANAGEMENT, LLC
	 	 	 
	 	By:	/s/ A. Lorne Weil
	 	 	Name: A. Lorne Weil
	 	 	Title: Principal
	 	 	 
	 	HYDRA LAC, LLC
	 	 	 
	 	By:	/s/ A. Lorne Weil
	 	 	Name: A. Lorne Weil
	 	 	Title: Managing Member
	 	 	 
	 	MATTHEWS LANE CAPITAL PARTNERS LLC
	 	 	 
	 	By:	/s/ Daniel B. Silvers
	 	 	Name: Daniel B. Silvers
	 	 	Title: Managing Member
	 	 	 
	 	MLCP GLL FUNDING LLC
	 	 	 
	 	By:	Matthews Lane Capital Partners LLC, its manager
	 	 	 
	 	By:	/s/ Daniel B. Silvers
	 	 	Name: Daniel B. Silvers
	 	 	Title: Managing Member
	 	 	 
	 	HG VORA SPECIAL OPPORTUNITIES MASTER FUND, LTD.
	 	 	 
	 	By:	HG Vora Capital Management, LLC, as investment adviser
	 	 	 
	 	By:	/s/ Mandy Lam

	 	 	Name: Mandy Lam
	 	 	Title: Authorized signatory on behalf of Vora

 

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	 	 	/s/ A. Lorne Weil
	 	 	A. Lorne Weil
	 	 	 
	 	 	/s/ Daniel B. Silvers
	 	 	Daniel B. Silvers
	 	 	 
	 	 	/s/ George Peng
	 	 	George Peng
	 	 	 
	 	 	/s/ Eric Carrera
	 	 	Eric Carrera
	 	 	 
	 	 	/s/ Marc Falcone
	 	 	Marc Falcone
	 	 	 
	 	 	/s/ Steven Rittvo
	 	 	Steven Rittvo
	 	 	 
	 	 	/s/ David Weinstein
	 	 	David Weinstein

 

	
        Acknowledged and Agreed: 

        LEISURE ACQUISITION CORP.
	 
	 	 	 
	By:	/s/ Daniel B. Silvers	 
	 	Name:  Daniel B. Silvers	 
	 	Title:   Chief Executive Officer	 

 

 

3Exhibit 10.12

 

EXECUTION VERSION

 

EXPENSE ADVANCEMENT AGREEMENT

 

THIS EXPENSE ADVANCEMENT
AGREEMENT (this “Agreement”), dated as of December 5, 2019, is made and entered into by and among Leisure
Acquisition Corp., a Delaware corporation (the “Company”) and GTWY Holdings Limited (“Gateway”
or the “Funding Party”).

 

RECITALS

 

WHEREAS, pursuant
to a special meeting of the Company’s stockholders on November 26, 2019 (the “Special Meeting”),
the Company’s stockholders approved, among other matters, an amendment to the Company’s Second Amended and Restated
Certificate of Incorporation to extend the period of time for which the Company was required to consummate a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses (each,
a “Business Combination”) from December 5, 2019 to April 5, 2020 (the “Extension”);

 

WHEREAS, in
connection with the Extension, the Company agreed, with respect to public shares not redeemed in connection with the Special Meeting,
to make a cash contribution (the “Contribution”)
of $0.03 for each public share that is not redeemed by stockholders for each monthly period or portion thereof that is needed to
complete a Business Combination (commencing on December 6, 2019 and on the 6th day of each subsequent month through the end of
the Extension), subject to certain conditions;

 

WHEREAS,
the Company and Gateway have had certain discussions regarding a potential Business Combination, such discussions are ongoing and
the parties hereto seek to continue such discussions with the goal of consummating a Business Combination; and

 

WHEREAS, the
Funding Party desires to enter into this Agreement in order to cover the Contribution amount due with respect to the period of
December 6, 2019 to January 5, 2020 (the “December Contribution”).

 

NOW, THEREFORE,
in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as
follows:

 

1.   (a) On
December 5, 2019, as may be requested by the Company, the Funding Party agrees to advance to the Company (the
“Advance”), an amount, up to a maximum of $566,287.53, pursuant to the terms of the form of
promissory note attached as Exhibit A hereto (the “Note”), as may be necessary to fund the
December Contribution.

 

(b) The
Funding Party represents to the Company that it is capable of making the Advance to satisfy its obligations under clause (a) of
this Section 1.

 

     

     

    

 

(c) Notwithstanding
anything to the contrary herein or in the Note, the Funding Party hereby irrevocably waives any and all right, title, interest,
causes of action and claims of any kind or nature whatsoever (each, a “Claim”) in or to, and any and
all right to seek payment of any amounts due to it out of, the trust account established for the benefit of the public stockholders
of the Company and into which substantially all of the proceeds of the Company’s initial public offering were deposited (the
“Trust Account”), and hereby irrevocably waives any Claim it presently has or may have in the future
as a result of, or arising out of, this agreement, which Claim would reduce, encumber or otherwise adversely affect the Trust Account
or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement, payment or satisfaction
of any Claim against the Trust Account or any monies or other assets in the Trust Account for any reason whatsoever.

 

2. This
Agreement, together with the Note, constitutes the entire agreement and understanding of the parties hereto in respect of the Advance
and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the
extent they relate in any way thereto or to the transactions contemplated hereby in connection therewith. This Agreement may not
be changed, amended, modified or waived as to any particular provision, except by a written instrument executed by the parties
hereto.

 

3. No
party may assign either this Agreement or any of its rights, interests, or obligations hereunder without the prior written consent
of the other party hereto. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not
operate to transfer or assign any interest or title to the purported assignee. This Agreement shall be binding on the undersigned
and each of its successors and permitted assigns including, in the case of the Company, any successor thereto as a result of the
completion of a Business Combination.

 

4. All
notices, statements or other documents which are required or contemplated by this Agreement shall be: (i) in writing and delivered
personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission
to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address
or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most recently
provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other
communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business
day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery
to an overnight courier service or five (5) days after mailing if sent by mail. Such notice, statement or demand shall be addressed
as follows:

 

If to the Company:

 

Leisure Acquisition Corp.

250 W. 57th Street, Suite 2223

New York, NY 10107

Attn: George Peng

 

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with a copy (which shall not constitute notice) to:

 

Proskauer Rose LLP

Eleven Times Square

New York, New York 10036

Attn: Jeffrey A. Horwitz, Esq.

 

If to Gateway:

 

Gateway Casinos & Entertainment Limited

4331 Dominion Street

Vancouver, BC V5G 1C7

Attention: Tolek Strukoff, Chief Legal Officer and Corporate
Secretary

Facsimile: (604) 412-0117

E-mail: tstrukoff@gatewaycasinos.com

 

with a copy (which shall not constitute notice) to:

 

Latham & Watkins LLP

330 North Wabash Avenue, Suite 2800

Chicago, Illinois 60611

Attention: Zachary Judd

Facsimile: (312) 993-9767

E-mail: zachary.judd@lw.com

 

5. This
Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

6. This
Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

7. Nothing
expressed or implied in this Agreement is intended or shall be construed to confer upon or give any person, other than the parties
hereto, any right or remedies under or by reason of this Agreement.

 

8. This
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The
parties hereto (i) agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Agreement
shall be brought and enforced in the courts of New York, in the State of New York, and irrevocably submit to such jurisdiction
and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue
or that such courts represent an inconvenient forum.

 

[Signature Page Follows]

  

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IN WITNESS WHEREOF, the undersigned
have caused this Agreement to be executed as of the date first written above.

 

	 	LEISURE ACQUISITION CORP.
	 	 	 	 
	 	By:	/s/ Daniel B. Silvers
	 	 	Name:	Daniel B. Silvers

	 	 	Title:	CEO

	 	 	 	 
	 	GTWY HOLDINGS LIMITED
	 	 	 	 
	 	By:	/s/ Tolek Strukoff
	 	 	Name:	Tolek Strukoff

	 	 	Title:	Chief Legal and Administrative Officer

  

     

     

    

 

Exhibit
A

 

Promissory Note

  

     

     

    

 

THIS PROMISSORY NOTE (“NOTE”)
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS NOTE HAS BEEN ACQUIRED
FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE
SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION
IS NOT REQUIRED.

 

PROMISSORY NOTE

 

Dated as of December 5, 2019

Principal Amount: $566,287.53

New York, New York

 

Pursuant to that certain Expense Advance
Agreement (the “Agreement”), dated as of December 5, 2019, by and between Leisure Acquisition Corp., a Delaware
corporation (the “Maker”), and GTWY Holdings Limited (the “Payee”), the Maker hereby promises
to pay to the order of the Payee or its registered assigns or successors in interest, or order, the principal sum of five hundred
sixty-six thousand two hundred eighty seven Dollars and fifty-three cents ($566,287.53) in lawful money of the United States of
America, on the terms and conditions described below. All payments on this Note shall be made by check or wire transfer of immediately
available funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate by written
notice in accordance with the provisions of this Note. Certain terms used herein but not defined herein shall have the meaning
given to such terms in the Agreement.

 

1. Principal.
The unpaid principal balance of this Note shall be payable on the date on which Maker consummates its Businesses Combination (the
“Maturity Date”). The principal balance may be prepaid at any time.

 

2. Interest.
No interest shall accrue on the unpaid principal balance of this Note.

 

Drawdown Requests. Maker and Payee
agree that Maker may request up to five hundred sixty-six thousand two hundred eighty-seven Dollars and fifty-three cents ($566,287.53).
The principal of this Note may be drawn down on December 5, 2019, upon written request from Maker to Payee (the “Drawdown
Request”). The Drawdown Request must not be an amount less than Five Hundred Thousand Dollars ($500,000). Payee shall
fund the Drawdown Request on the day of the Drawdown Request Once an amount is drawn down under this Note, it shall not be available
for a future Drawdown Request even if prepaid. No fees, payments or other amounts shall be due to Payee in connection with, or
as a result of, any Drawdown Request by Maker. Notwithstanding the foregoing, all payments shall be applied first to payment in
full of any reasonable costs incurred in collection of any delinquent sum due under this Note, including (without limitation) reasonable
attorneys’ fees, and then to the reduction of the unpaid principal balance of this Note.

 

3. Application
of Payments. All payments shall be applied first to payment in full of any reasonable costs incurred in the collection of any
delinquent sum due under this Note, including (without limitation) reasonable attorney’s fees, and then to the reduction
of the unpaid principal balance of this Note.

 

     

     

    

 

4. Events
of Default. The following shall constitute an event of default (“Event of Default”):

 

(a) Failure to
Make Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business days
of the date specified above.

 

(b) Voluntary
Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization,
rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator,
assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or
the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts
become due, or the taking of corporate action by Maker in furtherance of any of the foregoing.

 

(c) Involuntary
Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker
in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator,
assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering
the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period
of 60 consecutive days.

 

5. Remedies.

 

(a) Upon
the occurrence of an Event of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note
to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable hereunder,
shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby
expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

(b) Upon
the occurrence of an Event of Default specified in Section 5(b) or 5(c) hereof, the unpaid principal balance of this Note, and
all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without
any action on the part of Payee.

 

6. Waivers.
Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor,
protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by
Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting
any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or
sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment;
and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of
execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

 

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7. Unconditional
Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement
of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other
party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or
consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted
by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors,
or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder.

 

8. Notices.
All notices, statements or other documents which are required or contemplated by this Agreement shall be: (i) in writing and delivered
personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission
to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address
or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most recently
provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other
communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business
day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery
to an overnight courier service or five (5) days after mailing if sent by mail.

 

9. Governing
Law; Construction; Jurisdiction. This Note shall be governed by and construed and enforced in accordance with the laws of the
State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive
laws of another jurisdiction. The parties hereto (i) agree that any action, proceeding, claim or dispute arising out of, or relating
in any way to, this Note shall be brought and enforced in the courts of New York, in the State of New York, and irrevocably submits
to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive
jurisdiction and venue or that such courts represent an inconvenient forum.

 

10. Severability.
Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction.

 

11. Trust
Waiver. Notwithstanding anything herein to the contrary, the Payee hereby irrevocably waives any and all right, title, interest,
causes of action and claims of any kind or nature whatsoever (each, a “Claim”) in or to, and any and
all right to seek payment of any amounts due to it out of, the trust account established for the benefit of the public stockholders
of the Company and into which substantially all of the proceeds of the Company’s initial public offering were deposited (the
“Trust Account”), and hereby irrevocably waives any Claim it presently has or may have in the future
as a result of, or arising out of, this agreement, which Claim would reduce, encumber or otherwise adversely affect the Trust Account
or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement, payment or satisfaction
of any Claim against the Trust Account or any monies or other assets in the Trust Account for any reason whatsoever.

 

12. Amendment;
Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the
Maker and the Payee.

 

13. Assignment.
No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of
law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required
consent shall be void; provided, however, that the foregoing shall not apply to an affiliate of the Payee who agrees
to be bound to the terms of this Note.

 

[Signature Page Follows] 

 

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IN WITNESS WHEREOF,
Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year
first above written.

 

	 	LEISURE ACQUISITION CORP.
	 	 	 	 
	 	By:	/s/ Daniel B. Silvers
	 	 	Name:	Daniel B. Silvers

	 	 	Title:	CEO

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