Document:

EX-10.34

 Exhibit 10.34 

Execution Version 
  

FOURTH AMENDMENT TO GROUND LEASE AGREEMENT 

This Fourth Amendment to Ground Lease Agreement (“Amendment Four”) is entered into effective as of October 17, 2014 (the
“Amendment Four Effective Date”) by and between: 
 Lake Charles Harbor and Terminal District (“District”) (ID#
XX-XXX0645), a political subdivision of the State of Louisiana, having a mailing address of P.O. Box 3753, Lake Charles, Louisiana 70602, which is represented by its duly authorized Executive Director, William J. Rase, III; 

and 
 PNK (Lake Charles), L.L.C.
(“Tenant”) (ID# XX-XXX4452), a Louisiana limited liability company, domiciled in East Baton Rouge Parish, Louisiana, having a mailing address of 777 Avenue L’Auberge, Lake Charles, Louisiana 70601, which is represented by its sole
member, Pinnacle Entertainment, Inc., through its duly authorized representative. 
 INTRODUCTION 

A.      District and Tenant are parties to the Ground Lease Agreement (the “Ground Lease”), dated as
of August 21, 2003, but effective August 19, 2002, whereby District leased to Tenant certain property owned by District and located within the City of Lake Charles, Louisiana. The Ground Lease is evidenced of record by the Memorandum of
Lease dated August 21, 2003, recorded under Clerk’s File No. 2639841 in Conveyance Book 3026, page 632 of the public records of Calcasieu Parish, Louisiana, as amended by Addendum Number One to Memorandum of Lease (“Addendum
Number One”), recorded on July 6, 2005 under Clerk’s File No. 2726061 in Conveyance Book 3186, page 231. 

B.      District and Tenant entered into Amendment Number One to Ground Lease Agreement (“Amendment
One”) on May 27, 2005, which is recorded under Clerk’s File No. 2722049 in Conveyance Book 3178, page 137 of the public records of Calcasieu Parish, Louisiana. 

C.      District and Tenant entered into Amendment Number Two to Ground Lease Agreement (“Amendment
Two”) on March 1, 2007, which is recorded under Clerk’s File No. 2801790 in Conveyance Book 3323, page 545 of the public records of Calcasieu Parish, Louisiana. 

D.      District and Tenant entered into Amendment Number Three to Ground Lease Agreement (“Amendment
Three”) on July 1, 2011, which is recorded under Clerk’s File No. 3026902 in Conveyance Book 3758, page 399 of the public records of Calcasieu Parish, Louisiana (the Ground Lease, Addendum Number One, Amendment One, Amendment Two
and Amendment Three collectively referred to hereinafter as the “Lease”). 
 E.      District and
Tenant have agreed to amend the Lease pursuant to the terms of this Amendment Four. 
 NOW THEREFORE, for the consideration listed
below, effective upon the Amendment Four Effective Date, the District and Tenant do hereby amend the Lease to 

 
include within the Project Site the parcel or parcels of real property more particularly described on Exhibit “A” (the “Additional Property”) attached hereto and made a part
hereof, subject to the terms and conditions of the Lease. 
 1.        Tenant shall pay to the
District additional annual rent applicable to the Additional Property equal to the sum of $13,068.00, commencing January 1, 2015. The annual rent prorated for the period January 1, 2015 through June 30th, 2015 shall equal $6,534.00. All subsequent rental payments related to the Additional Property shall be paid in the manner specified in Article 4 of the Ground Lease and shall be increased in the
manner specified in Section A of Corrected Exhibit “3” of the Ground Lease. Rental shall never be less than $13,068.00, and shall only increase in accordance with the above formula. The additional annual rent provided for in this paragraph
shall not be subject to any credits, including any credits for mitigation expenses for wetlands provided for in paragraph (c) on the Corrected Exhibit “3” of the Ground Lease. 

2.        The inclusion of the real property described on Exhibit “A” as part of the Project
Site is made subject to all rights of way and servitudes of record. 
 3.        All other terms and
conditions of the Lease that are not modified by this Amendment Four remain in full force and effect. 

4.        The parties each warrant that, as of the Amendment Four Effective Date, (i) neither it
nor the other party is in default of any term, condition, or obligation under the Lease, (ii) there is no existing fact or condition which, with the giving of notice or passage of time or both, would become a default by the other party under
the Lease and (iii) it waives any and all prior defaults, if any, under the Lease. 

5.        Pinnacle Entertainment, Inc., in its capacity as guarantor pursuant to the Guaranty
Agreement dated August 19, 2002, consents to the terms of this Amendment Four. 

6.        This Agreement may be signed in one or more counterparts, each of which shall be deemed an
original and all of which, taken together, shall constitute one and the same instrument. 
 [Signatures on following page] 

  
 - 2 - 

 This Fourth Amendment to Ground Lease Agreement is executed by the parties below on the dates set
forth below but effective as of the Amendment Four Effective Date. 

 

 WITNESSES: 
  

			
	X	 	

		 	  

  

			
	Print Name:	  	

		  	  

  

			
	X	 	

		 	  

  

			
	Print Name:	  	

		  	  

 

 LAKE CHARLES HARBOR and 

TERMINAL DISTRICT 
  

 

			
	By:	 	

		 	  

			
	Name:	 	William J. Rase, III
		 	  

			
	Title:	 	Executive Director
		 	  

 
 

 ACKNOWLEDGMENT 

STATE OF LOUISIANA 
 PARISH OF CALCASIEU 

Be it known, that on this 22 day of October, 2014, before me, the undersigned Notary Public, duly commissioned, qualified and sworn
within and for the State and Parish aforesaid, personally appeared William J. Rase, III, to be known to be the identical person who executed the above and foregoing instrument, who declared and acknowledged to me, Notary, in the presence of the
undersigned competent witnesses, that he is the Executive Director of the Lake Charles Harbor and Terminal District, a political subdivision of the State of Louisiana, that in such capacity, by and with the authority of the Board of Commissioners of
the Lake Charles Harbor and Terminal District, he signed and executed the foregoing instrument, as his free and voluntary act and deed of said District, for and on behalf of said District, for the uses, purposes and benefits therein expressed. 

 

					
	X	 	

	 	
		 	  
	 	
	Print Name: William J. Rase, III	 	

  

					
		  	

	  	
		  	  
	  	
			
		  	Notary Public	  	

 

 My Commission Expires: AT DEATH.

 

 

 

  
 Signature page to 

Fourth Amendment to 
 Ground Lease
Agreement 

 
 WITNESSES: 
  

			
	X	 	

		 	  

  

			
	Print Name:	  	

		  	  

  

			
	X	 	

		 	  

  

			
	Print Name:	  	

		  	  

 

 PNK (LAKE CHARLES), L.L.C. 
  

			
	By:	  	 Pinnacle Entertainment, Inc.,
		  	its Sole Member/Manager

  

			
	By:	 	

		 	  

			
		 	      John A. Godfrey,
		 	      Executive Vice President,
		 	      Secretary and General Counsel

 
 

  
 ACKNOWLEDGMENT

  

			
	STATE OF	 	    

		 	  

  

			
	COUNTY/PARISH OF	 	    

		 	  

 Be it known, that on this 17th day of October, 2014,
before me, the undersigned Notary Public, duly commissioned, qualified and sworn within and for the State and County/Parish aforesaid, personally appeared John A. Godfrey, to be known to be the identical person who executed the above and foregoing
instrument, who declared and acknowledged to me, Notary, in the presence of the undersigned competent witnesses, that he is the Executive Vice President, Secretary and General Counsel of the Member/Manager of PNK (Lake Charles), LLC, a Louisiana
limited liability company, that in such capacity, by and with the authority of the members/managers of said limited liability company, he/she signed and executed the foregoing instrument, as his/her free and voluntary act and deed of said limited
liability company, for and on behalf of said limited liability company, for the uses, purposes and benefits therein expressed. 
  

					
	X	 	

	 	
		 	  
	 	
	Print Name: John A. Godfrey	 	

  

					
		  	

	  	
		  	  
	  	
			
		  	Notary Public	  	

 

 My Commission Expires: Nov. 9, 2015

 

 

 

  
 Signature page to 

Fourth Amendment to 
 Ground Lease
Agreement 

 EXHIBIT “A” 

ADDITIONAL L’AUBERGE LEASE AREA 
 DESCRIPTION: 

THAT CERTAIN TRACT OR PARCEL OF LAND LYING IN THE NORTHEAST QUARTER OF THE SOUTHWEST QUARTER (NE/4-SW/4) OF SECTION 11, TOWNSHIP 10 SOUTH, RANGE 9 WEST,
CALCASIEU PARISH, LOUISIANA: 
 COMMENCING AT AN EXISTING 1” ROD MARKING THE SOUTHEAST CORNER OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER
(SW/4-SE/4) OF SECTION 11, TOWNSHIP 10 SOUTH, RANGE 9 WEST, CALCASIEU PARISH, LOUISIANA; 
 THENCE NORTH 89° 11’ 50” WEST, ALONG THE SOUTH LINE
OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER (SW/4-SE/4) OF SAID SECTION 11, FOR A DISTANCE OF 1735.52 FEET TO THE ORIGINAL WEST BOUNDARY LINE OF L’AUBERGE DU LAC HOTEL AND CASINO; 

THENCE NORTH 00° 53’ 19” EAST, ALONG SAID ORIGINAL WEST BOUNDARY LINE OF L’AUBERGE DU LAC HOTEL AND CASINO, FOR A DISTANCE OF 1791.72 FEET;

 THENCE NORTH 89° 11’ 50” WEST, PARALLEL WITH THE SOUTH LINE OF THE AFORESAID SECTION 11 AND ALONG SAID ORIGINAL WEST BOUNDARY LINE OF
L’AUBERGE DU LAC HOTEL AND CASINO, FOR A DISTANCE OF 200.00 FEET; 
 THENCE NORTH 00° 53’ 19” EAST, ALONG SAID ORIGINAL WEST BOUNDARY LINE
OF L’AUBERGE DU LAC HOTEL AND CASINO, FOR A DISTANCE OF 125.97 FEET, THE POINT OF BEGINNING OF HEREIN DESCRIBED TRACT; 
 THENCE NORTH 49° 09’
02” WEST, ALONG PROPERTY LINE CONTIGUOUS WITH GOLDEN NUGGET EXCLUSIVE, FOR A DISTANCE OF 448.00 FEET TO PROPERTY LINE CONTIGUOUS WITH GOLDEN NUGGET COMMON; 

THENCE NORTH 64° 45’ 00” EAST, ALONG PROPERTY LINES CONTIGUOUS WITH SAID GOLDEN NUGGET COMMON AND PNK COMMON, FOR A DISTANCE OF 317.95 FEET TO THE
ORIGINAL WEST BOUNDARY LINE OF L’AUBERGE DU LAC HOTEL AND CASINO; 
 THENCE SOUTH 89° 06’ 42” EAST, ALONG THE SAID ORIGINAL WEST BOUNDARY
LINE OF L’AUBERGE DU LAC HOTEL AND CASINO, FOR A DISTANCE OF 57.95 FEET TO AN EXISTING 5/8” REBAR; 
 THENCE SOUTH 00° 53’ 19” EAST,
ALONG SAID ORIGINAL WEST BOUNDARY LINE OF L’AUBERGE DU LAC HOTEL AND CASINO, FOR A DISTANCE OF 427.80 FEET TO THE POINT OF BEGINNING. 
 HEREIN DESCRIBED
TRACT CONTAINING 77,508.15 SQUARE FEET OR 1.78 ACRES, MORE OR LESS. 
 ADDITIONAL L’AUBERGE COMMON AREA 

DESCRIPTION: 
 THAT CERTAIN TRACT OR PARCEL OF LAND LYING IN THE
NORTHEAST QUARTER OF THE SOUTHWEST QUARTER (NE/4-SW/4) OF SECTION 11, TOWNSHIP 10 SOUTH, RANGE 9 WEST, CALCASIEU PARISH, LOUISIANA: 
 COMMENCING AT AN
EXISTING 1” ROD MARKING THE SOUTHEAST CORNER OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER (SW/4-SE/4) OF SECTION 11, TOWNSHIP 10 SOUTH, RANGE 9 WEST, CALCASIEU PARISH, LOUISIANA; 

THENCE NORTH 89° 11’ 50” WEST, ALONG THE SOUTH LINE OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER (SW/4-SE/4) OF SAID SECTION 11, FOR A
DISTANCE OF 1735.52 FEET TO THE ORIGINAL WEST BOUNDARY LINE OF L’AUBERGE DU LAC HOTEL AND CASINO; 

 THENCE NORTH 00° 53’ 19” EAST, ALONG SAID ORIGINAL WEST BOUNDARY LINE OF L’AUBERGE DU LAC HOTEL
AND CASINO, FOR A DISTANCE OF 1791.72 FEET; 
 THENCE NORTH 89° 11’ 50” WEST, PARALLEL WITH THE SOUTH LINE OF THE AFORESAID SECTION 11 AND ALONG
SAID ORIGINAL WEST BOUNDARY LINE OF L’AUBERGE DU LAC HOTEL AND CASINO, FOR A DISTANCE OF 200.00 FEET; 
 THENCE NORTH 00° 53’ 19” EAST,
ALONG SAID ORIGINAL WEST BOUNDARY LINE OF L’AUBERGE DU LAC HOTEL AND CASINO, FOR A DISTANCE OF 553.77 FEET; 
 THENCE NORTH 89° 06’ 42”
WEST, FOR A DISTANCE OF 57.95 FEET, THE POINT OF BEGINNING OF HEREIN DESCRIBED TRACT; 
 THENCE SOUTH 64° 45’ 00” WEST, ALONG PROPERTY LINE
CONTIGUOUS WITH PNK EXCLUSIVE, FOR A DISTANCE OF 268.54 FEET TO PROPERTY LINE CONTIGUOUS WITH GOLDEN NUGGET COMMON; 
 THENCE NORTH 22° 00’ 02”
WEST, ALONG PROPERTY LINE CONTIGUOUS WITH SAID GOLDEN NUGGET COMMON, FOR A DISTANCE OF 165.52 FEET; 
 THENCE NORTH 58° 02’ 34” EAST, FOR A
DISTANCE OF 106.98 FEET TO A POINT LYING 105.00 FEET PERPENDICULAR TO THE ORIGINAL WEST BOUNDARY LINE OF L’AUBERGE DU LAC HOTEL AND CASINO; 
 THENCE
SOUTH 49° 09’ 02” EAST, 105.00 FEET WESTERLY OF AND PARALLEL WITH SAID ORIGINAL WEST BOUNDARY LINE OF L’AUBERGE DU LAC HOTEL AND CASINO, FOR A DISTANCE OF 143.56 FEET; 

THENCE SOUTH 89° 06’ 42” EAST, FOR A DISTANCE OF 105.54 FEET TO THE POINT OF BEGINNING. 

HEREIN DESCRIBED TRACT CONTAINING 27,720.54 SQUARE FEET OR 0.64 ACRES, MORE OR LESS.EX-4.5(i)

 Exhibit 4.5(i) 

TIM HORTONS INC. 
 and

 BNY TRUST COMPANY OF CANADA 
  

 
 FOURTH SUPPLEMENTAL TRUST INDENTURE

 Dated as of December 12, 2014 

Supplementing the Trust Indenture dated as of June 1, 2010 

between Tim Hortons Inc. and BNY Trust Company of Canada 
  

 
  
  

 THIS FOURTH SUPPLEMENTAL TRUST INDENTURE dated as of December 12, 2014 

BETWEEN: 
 TIM HORTONS
INC., a corporation incorporated under the laws of Canada 
 (“Amalco”) 

-and- 

BNY TRUST COMPANY OF CANADA, a trust company existing under the laws of Canada 

(the “Trustee”) 
  

 
 RECITALS: 
  

	A.	WHEREAS Tim Hortons Inc. (“THI”) and the Trustee are parties to a trust indenture dated as of June 1, 2010 (the “Master Indenture”); 

 

	B.	AND WHEREAS THI and the Trustee have previously entered into (i) the first supplemental indenture to the Master Indenture, dated as of June 1, 2010, providing for the issuance of $200,000,000 aggregate
principal amount of 4.20% Senior Unsecured Notes, Series 1, due June 1, 2017, (ii) the first (reopening) supplemental indenture to the Master Indenture, dated as of December 1, 2010, providing for the issuance of $100,000,000
aggregate principal amount of 4.20% Senior Unsecured Notes, Series 1, due June 1, 2017, (iii) the second supplemental indenture to the Master Indenture, dated as of November 29, 2013, providing for the issuance of $450,000,000
aggregate principal amount of 4.52% Senior Unsecured Notes, Series 2, due December 1, 2023 and (iv) the third supplemental indenture to the Master Indenture, dated as of March 28, 2014, providing for the issuance of $450,000,000
aggregate principal amount of 2.85% Senior Unsecured Notes, Series 3, due April 1, 2019; 

  

	C.	AND WHEREAS, at 11:59 p.m. (Toronto time) on December 12, 2014, THI amalgamated with 8997900 Canada Inc. pursuant to an arrangement under section 192 of the Canada Business Corporations Act, and the continuing
corporation resulting from such amalgamation (the “Amalgamation”) is Amalco; 

  

	D.	AND WHEREAS pursuant to Section 10.1 of the Master Indenture, Amalco is the “Successor” to THI under the Master Indenture by virtue of the Amalgamation and is now the “Issuer” under the Master
Indenture; 

  

	E.	AND WHEREAS section 14.1(c) of the Master Indenture provides that the Issuer and the Trustee may execute and deliver a supplemental indenture for the purpose of evidencing the succession of another corporation to THI
and the obligations assumed by such Successor; 

  

	F.	AND WHEREAS this Fourth Supplemental Indenture is entered into to expressly evidence the assumption by Amalco of all of the obligations of THI under the Master Indenture; 

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

ARTICLE 1 

INTERPRETATION 
  

	1.1	To be Read with Master Indenture 

 This Fourth Supplemental Indenture is a Supplemental Indenture within
the meaning of the Master Indenture. The Master Indenture and this Fourth Supplemental Indenture shall be read together and shall have effect so far as practicable as though all the provisions of both indentures were contained in one instrument.

	1.2	Fourth Supplemental Indenture 

 The terms “this Fourth Supplemental Indenture”,
“this indenture”, “herein”, “hereof”, “hereby”, “hereunder”, and similar expressions, unless the context otherwise specifies or requires, refer to the Master
Indenture, as amended and supplemented by this Fourth Supplemental Indenture and not to any particular Article, section, subsection or clause or other portion thereof, and include every instrument supplemental or ancillary to this Fourth
Supplemental Indenture. 
  

	1.3	Definitions 

 All terms which are defined in the Master Indenture and used but not defined in this
Fourth Supplemental Indenture shall have the meanings ascribed to them in the Master Indenture, as such meanings may be amended by this Fourth Supplemental Indenture. In the event of any inconsistency between the terms in the Master Indenture and
this Fourth Supplemental Indenture, the terms in this Fourth Supplemental Indenture shall prevail. 
  

ARTICLE 2 

SUCCESSION BY AMALCO 
  

	2.1	Assumption by Amalco 

 Amalco, being the continuing corporation resulting from the Amalgamation, hereby
confirms that, upon the Amalgamation becoming effective, it continues to be liable for all of the obligations of THI under the Master Indenture and, without novation, hereby expressly assumes such obligations. 

 
 ARTICLE 3 

MISCELLANEOUS 
  

	3.1	Acceptance of Trust 

 The Trustee accepts the trusts in this Fourth Supplemental Indenture and agrees to
carry out and discharge the same upon the terms and conditions set out in this Fourth Supplemental Indenture and in accordance with the Master Indenture. 
  

	3.2	Master Indenture Remains In Full Force and Effect 

 Except as supplemented or amended hereby, all other
provisions in the Master Indenture, to the extent not inconsistent with the terms and provisions of this Fourth Supplemental Indenture, shall remain in full force and effect. 
  

	3.3	Governing Law 

 This Fourth Supplemental Indenture shall be governed by and construed in accordance with
the laws of the Province of Ontario and the laws of Canada applicable therein. 
  

	3.4	Counterparts 

 This Fourth Supplemental Indenture may be executed in several counterparts, each of which
so executed shall be deemed to be original and such counterparts together shall constitute one and the same instrument. 
 [The remainder
of this page intentionally left blank.] 

 IN WITNESS WHEREOF the parties hereto have executed this Fourth Supplemental Indenture under the hands of
the proper officers in that behalf. 
  

			
	TIM HORTONS INC.
		
	 Per:
		/s/ Jill Granat
			Name: Jill Granat
			Title: Director
		
			
	BNY TRUST COMPANY OF CANADA, as Trustee
		
	 Per:
		/s/ J. Steven Broude
			Name: J. Steven Broude
			Title: Authorized Signatory
		
			

  
 Fourth Supplemental Indenture

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