Document:

EX-10.9

 Exhibit 10.9 
  

LEASE (JOLIET) 

By and Between 

HARRAH’S JOLIET LANDCO LLC 

(together with its permitted successors and assigns) 

as “Landlord” 

and 
 DES PLAINES
DEVELOPMENT LIMITED PARTNERSHIP 
 (together with its permitted successors and assigns) 

as “Tenant” 

dated 
 October 2,
2017 
 for 

Harrah’s Joliet – Joliet, Illinois 
  

 
  

 TABLE OF CONTENTS 

 

									
	 	 	 	    	 	  	Page	 
	 ARTICLE I DEMISE; TERM
	  	 	1	 
		 	1.1	    	Leased Property	  	 	1	 
		 	1.2	    	Single, Indivisible Lease	  	 	2	 
		 	1.3	    	Term	  	 	3	 
		 	1.4	    	Renewal Terms	  	 	3	 
		 	1.5	    	Maximum Fixed Rent Term	  	 	3	 
		
	ARTICLE II DEFINITIONS	  	 	4	 
		
	ARTICLE III RENT	  	 	45	 
		 	3.1	    	Payment of Rent	  	 	45	 
		 	3.2	    	Variable Rent Determination	  	 	46	 
		 	3.3	    	Late Payment of Rent or Additional Charges	  	 	47	 
		 	3.4	    	Method of Payment of Rent	  	 	48	 
		 	3.5	    	Net Lease	  	 	48	 
		
	ARTICLE IV ADDITIONAL CHARGES	  	 	49	 
		 	4.1	    	Impositions	  	 	49	 
		 	4.2	    	Utilities and Other Matters	  	 	51	 
		 	4.3	    	Compliance Certificate.	  	 	51	 
		 	4.4	    	Impound Account	  	 	51	 
		
	ARTICLE V NO TERMINATION, ABATEMENT, ETC.	  	 	51	 
		
	ARTICLE VI OWNERSHIP OF REAL AND PERSONAL PROPERTY	  	 	52	 
		 	6.1	    	Ownership of the Leased Property	  	 	52	 
		 	6.2	    	Ownership of Tenant’s Property	  	 	54	 
		 	6.3	    	Landlord’s Security Interest in Tenant’s Pledged Property	  	 	55	 
		
	ARTICLE VII PRESENT CONDITION & PERMITTED USE	  	 	57	 
		 	7.1	    	Condition of the Leased Property	  	 	57	 
		 	7.2	    	Use of the Leased Property	  	 	57	 
		 	7.3	    	Ground Leases	  	 	59	 
		 	7.4	    	Third-Party Reports	  	 	62	 
		 	7.5	    	Operating Standard	  	 	62	 
		
	ARTICLE VIII REPRESENTATIONS AND WARRANTIES	  	 	63	 
		
	ARTICLE IX MAINTENANCE AND REPAIR	  	 	63	 
		 	9.1	    	Tenant Obligations	  	 	63	 
		 	9.2	    	No Landlord Obligations	  	 	63	 
		 	9.3	    	Landlord’s Estate	  	 	64	 
		 	9.4	    	End of Term	  	 	64	 

  
 i 

 TABLE OF CONTENTS (CONT’D) 

 

									
	 	 	 	    	 	  	Page	 
	ARTICLE X ALTERATIONS	  	 	64	 
		 	10.1	    	Alterations, Capital Improvements and Material Capital Improvements	  	 	64	 
		 	10.2	    	Landlord Approval of Certain Alterations and Capital Improvements	  	 	66	 
		 	10.3	    	Construction Requirements for Alterations and Capital Improvements	  	 	66	 
		 	10.4	    	Landlord’s Right of First Offer to Fund Material Capital Improvements	  	 	67	 
		 	10.5	    	Minimum Capital Expenditures	  	 	71	 
		
	ARTICLE XI LIENS	  	 	78	 
		
	ARTICLE XII PERMITTED CONTESTS	  	 	79	 
		
	ARTICLE XIII INSURANCE	  	 	80	 
		 	13.1	    	General Insurance Requirements	  	 	80	 
		 	13.2	    	Name of Insureds	  	 	83	 
		 	13.3	    	Deductibles or Self-Insured Retentions	  	 	84	 
		 	13.4	    	Waivers of Subrogation	  	 	84	 
		 	13.5	    	Limits of Liability and Blanket Policies	  	 	84	 
		 	13.6	    	Future Changes in Insurance Requirements	  	 	84	 
		 	13.7	    	Notice of Cancellation or Non-Renewal	  	 	85	 
		 	13.8	    	Copies of Documents	  	 	85	 
		 	13.9	    	Certificates of Insurance	  	 	86	 
		 	13.10	    	Other Requirements	  	 	86	 
		
	ARTICLE XIV CASUALTY	  	 	87	 
		 	14.1	    	Property Insurance Proceeds	  	 	87	 
		 	14.2	    	Tenant’s Obligations Following Casualty	  	 	88	 
		 	14.3	    	No Abatement of Rent	  	 	89	 
		 	14.4	    	Waiver	  	 	90	 
		 	14.5	    	Insurance Proceeds and Fee Mortgagee	  	 	90	 
		
	ARTICLE XV EMINENT DOMAIN	  	 	90	 
		 	15.1	    	Condemnation	  	 	90	 
		 	15.2	    	Award Distribution	  	 	91	 
		 	15.3	    	Temporary Taking	  	 	91	 
		 	15.4	    	Condemnation Awards and Fee Mortgagee	  	 	91	 
		
	ARTICLE XVI DEFAULTS & REMEDIES	  	 	91	 
		 	16.1	    	Tenant Events of Default	  	 	91	 
		 	16.2	    	Landlord Remedies	  	 	95	 
		 	16.3	    	Damages	  	 	96	 
		 	16.4	    	Receiver	  	 	97	 
		 	16.5	    	Waiver	  	 	97	 
		 	16.6	    	Application of Funds	  	 	97	 
		 	16.7	    	Landlord’s Right to Cure Tenant’s Default	  	 	97	 
		 	16.8	    	Miscellaneous.	  	 	98	 

  
 ii 

 TABLE OF CONTENTS (CONT’D) 

 

									
	 	 	 	    	 	  	Page	 
	ARTICLE XVII TENANT FINANCING	  	 	99	 
		 	17.1	    	Permitted Leasehold Mortgagees	  	 	99	 
		 	17.2	    	Landlord Cooperation with Permitted Leasehold Mortgage	  	 	107	 
		
	ARTICLE XVIII TRANSFERS BY LANDLORD	  	 	107	 
		 	18.1	    	Transfers Generally	  	 	107	 
		 	18.2	    	Intentionally Omitted	  	 	109	 
		 	18.3	    	Intentionally Omitted	  	 	109	 
		 	18.4	    	Transfers to Tenant Competitors	  	 	109	 
		
	ARTICLE XIX HOLDING OVER	  	 	110	 
		
	ARTICLE XX RISK OF LOSS	  	 	111	 
		
	ARTICLE XXI INDEMNIFICATION	  	 	111	 
		 	21.1	    	General Indemnification	  	 	111	 
		 	21.2	    	Encroachments, Restrictions, Mineral Leases, etc.	  	 	112	 
		
	ARTICLE XXII TRANSFERS BY TENANT	  	 	114	 
		 	22.1	    	Subletting and Assignment	  	 	114	 
		 	22.2	    	Permitted Assignments and Transfers	  	 	115	 
		 	22.3	    	Permitted Sublease Agreements	  	 	118	 
		 	22.4	    	Required Subletting and Assignment Provisions	  	 	120	 
		 	22.5	    	Costs	  	 	121	 
		 	22.6	    	No Release of Tenant’s Obligations; Exception	  	 	121	 
		 	22.7	    	Bookings	  	 	121	 
		 	22.8	    	Merger of CEOC.	  	 	122	 
		
	ARTICLE XXIII REPORTING	  	 	122	 
		 	23.1	    	Estoppel Certificates and Financial Statements	  	 	122	 
		 	23.2	    	SEC Filings; Offering Information	  	 	127	 
		 	23.3	    	Landlord Obligations	  	 	128	 
		
	ARTICLE XXIV LANDLORD’S RIGHT TO INSPECT	  	 	129	 
		
	ARTICLE XXV NO WAIVER	  	 	130	 
		
	ARTICLE XXVI REMEDIES CUMULATIVE	  	 	130	 
		
	ARTICLE XXVII ACCEPTANCE OF SURRENDER	  	 	130	 
		
	ARTICLE XXVIII NO MERGER	  	 	130	 
		
	ARTICLE XXIX INTENTIONALLY OMITTED	  	 	131	 
		
	ARTICLE XXX QUIET ENJOYMENT	  	 	131	 

  
 iii 

 TABLE OF CONTENTS (CONT’D) 

 

									
	 	 	 	    	 	  	Page	 
	ARTICLE XXXI LANDLORD FINANCING	  	 	131	 
		 	31.1	    	Landlord’s Financing	  	 	131	 
		 	31.2	    	Attornment	  	 	132	 
		 	31.3	    	Compliance with Fee Mortgagee Documents	  	 	133	 
		
	ARTICLE XXXII ENVIRONMENTAL COMPLIANCE	  	 	137	 
		 	32.1	    	Hazardous Substances	  	 	137	 
		 	32.2	    	Notices	  	 	137	 
		 	32.3	    	Remediation	  	 	138	 
		 	32.4	    	Indemnity	  	 	138	 
		 	32.5	    	Environmental Inspections	  	 	139	 
		
	ARTICLE XXXIII MEMORANDUM OF LEASE	  	 	140	 
		
	ARTICLE XXXIV DISPUTE RESOLUTION	  	 	140	 
		 	34.1	    	Expert Valuation Process	  	 	140	 
		 	34.2	    	Arbitration	  	 	142	 
		
	ARTICLE XXXV NOTICES	  	 	144	 
		
	ARTICLE XXXVI END OF TERM SUCCESSOR ASSET TRANSFER	  	 	144	 
		 	36.1	    	Transfer of Tenant’s Successor Assets and Operational Control of the Leased Property	  	 	144	 
		 	36.2	    	Transfer of Intellectual Property	  	 	145	 
		 	36.3	    	Determination of Successor Assets FMV	  	 	145	 
		 	36.4	    	Operation Transfer	  	 	146	 
		
	ARTICLE XXXVII ATTORNEYS’ FEES	  	 	146	 
		
	ARTICLE XXXVIII BROKERS	  	 	146	 
		
	ARTICLE XXXIX ANTI-TERRORISM REPRESENTATIONS	  	 	147	 
		
	ARTICLE XL LANDLORD REIT PROTECTIONS	  	 	147	 
		
	ARTICLE XLI MISCELLANEOUS	  	 	149	 
		 	41.1	    	Survival	  	 	149	 
		 	41.2	    	Severability	  	 	149	 
		 	41.3	    	Non-Recourse	  	 	149	 
		 	41.4	    	Successors and Assigns	  	 	150	 
		 	41.5	    	Governing Law	  	 	150	 
		 	41.6	    	Waiver of Trial by Jury	  	 	151	 
		 	41.7	    	Entire Agreement	  	 	151	 
		 	41.8	    	Headings	  	 	151	 
		 	41.9	    	Counterparts	  	 	151	 
		 	41.10	    	Interpretation	  	 	152	 
		 	41.11	    	Deemed Consent	  	 	152	 

  
 iv 

 TABLE OF CONTENTS (CONT’D) 

 

									
	 	 	 	    	 	  	Page	 
		 	41.12	    	Further Assurances	  	 	152	 
		 	41.13	    	Gaming Regulations	  	 	152	 
		 	41.14	    	Intentionally Omitted	  	 	153	 
		 	41.15	    	Intentionally Omitted	  	 	153	 
		 	41.16	    	Savings Clause	  	 	153	 
		 	41.17	    	Integration with Other Documents	  	 	154	 
		 	41.18	    	Manager	  	 	154	 
		 	41.19	    	Non-Consented Lease Termination	  	 	154	 
		 	41.20	    	Intentionally Omitted	  	 	154	 
		 	41.21	    	Intentionally Omitted	  	 	154	 
		 	41.22	    	Confidential Information	  	 	154	 
		 	41.23	    	Time of Essence	  	 	155	 
		 	41.24	    	Consents, Approvals and Notices	  	 	155	 
		 	41.25	    	No Release of Tenant or Guarantor	  	 	156	 

  
 v 

 EXHIBITS AND SCHEDULES 
  

							
			
	 EXHIBIT A
	  	 	—	 	  	FACILITY
			
	 EXHIBIT B
	  	 	—	 	  	LEGAL DESCRIPTION OF LAND
			
	 EXHIBIT C
	  	 	—	 	  	CAPITAL EXPENDITURES REPORT
			
	 EXHIBIT D
	  	 	—	 	  	FORM OF SCHEDULE CONTAINING ANY ADDITIONS TO OR RETIREMENTS OF ANY FIXED ASSETS CONSTITUTING LEASED PROPERTY
			
	 EXHIBIT E
	  	 	—	 	  	INTENTIONALLY OMITTED
			
	 EXHIBIT F
	  	 	—	 	  	INTENTIONALLY OMITTED
			
	 EXHIBIT G
	  	 	—	 	  	FORM OF REIT COMPLIANCE CERTIFICATE
			
	 EXHIBIT H
	  	 	—	 	  	PROPERTY-SPECIFIC IP
			
	 EXHIBIT I
	  	 	—	 	  	DESCRIPTION OF TITLE POLICY
			
	 EXHIBIT J
	  	 	—	 	  	ADDITIONAL FEE MORTGAGEE REQUIREMENTS FOR EXISTING FEE MORTGAGE
			
	 SCHEDULE 1
	  	 	—	 	  	GAMING LICENSES
			
	 SCHEDULE 2
	  	 	—	 	  	GROUND LEASES
			
	 SCHEDULE 3
	  	 	—	 	  	MAXIMUM FIXED RENT TERM
			
	 SCHEDULE 4
	  	 	—	 	  	SPECIFIED SUBLEASES
			
	 SCHEDULE 5
	  	 	—	 	  	RENT ALLOCATION
			
	 SCHEDULE 6
	  	 	—	 	  	LONDON CLUBS

  
 vi 

 LEASE (JOLIET) 

THIS LEASE (JOLIET) (this “Lease”) is entered into as of October 2, 2017, by and among HARRAH’S JOLIET LANDCO LLC
(together with its successors and assigns, “Landlord”), and DES PLAINES DEVELOPMENT LIMITED PARTNERSHIP (together with its successors and assigns, “Tenant”). 

RECITALS 
 A. Commencing on
January 15, 2015 and continuing thereafter, Caesars Entertainment Operating Company, Inc., a Delaware corporation, and certain of its direct and indirect subsidiaries (collectively, the “Debtors”) filed voluntary petitions for
relief under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the Northern District of Illinois (the “Bankruptcy Court”), jointly administered under Case
No. 15-01145, and the Bankruptcy Court has confirmed the “Debtors’ Third Amended Joint Plan of Reorganization Pursuant to Chapter 11 of the Bankruptcy Code” (as it may be altered, amended,
modified, or supplemented from time to time in accordance with the terms of Article X thereof, the “Bankruptcy Plan”). 

B. Pursuant to the Bankruptcy Plan, on the date hereof the Debtors transferred the Leased Property to Landlord, and Landlord hereby leases the
Leased Property to Tenant and Tenant hereby leases the Leased Property from Landlord, upon the terms set forth in this Lease. 
 C.
Immediately following the execution of this Lease, Caesars Entertainment Operating Company, Inc., a Delaware corporation, will merge into CEOC, LLC. 

D. Capitalized terms used in this Lease and not otherwise defined herein are defined in Article II hereof. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as
follows: 
 ARTICLE I 

DEMISE; TERM 
 1.1
Leased Property. Upon and subject to the terms and conditions hereinafter set forth, Landlord demises and leases to Tenant and Tenant accepts and leases from Landlord all of Landlord’s rights and interest in and to the following
(collectively, the “Leased Property”): 
 (a) the real property described in Exhibit B attached hereto, together with
any ownership interests in adjoining roadways, alleyways, strips, gores and the like appurtenant thereto (collectively, the “Land”); 

(b) the Ground Leases (as defined below), together with the leasehold estates in the Ground Leased Property (as defined below), as to which
this Lease will constitute a sublease; 

  
 1 

 (c) all buildings, structures, Fixtures and improvements of every kind now or hereafter located
on the Land or the improvements located thereon or permanently affixed to the Land or the improvements located thereon, including, but not limited to, alleyways and connecting tunnels, sidewalks, utility pipes, conduits and lines appurtenant to such
buildings and structures (collectively, the “Leased Improvements”), provided, however, that the foregoing shall not affect or contradict the provisions of this Lease which specify that Tenant shall be entitled to certain rights with
respect to or benefits of the Tenant Capital Improvements as expressly set forth herein; and 
 (d) all easements, development rights and
other rights appurtenant to the Land or the Leased Improvements. 
 The Leased Property is leased subject to all covenants, conditions, restrictions,
easements and other matters of any nature affecting the Leased Property or any portion thereof as of the Commencement Date and such subsequent covenants, conditions, restrictions, easements and other matters as may hereafter arise in accordance with
the terms of this Lease or as may otherwise be agreed to in writing by Landlord and Tenant, whether or not of record, including any matters which would be disclosed by an inspection or accurate survey of the Leased Property or any portion thereof.

 To the extent Landlord’s ownership of any Leased Property or any portion thereof (including any improvement (including any Capital Improvement) or
other property) that does not constitute “real property” within the meaning of Treasury Regulation Section 1.856-3(d), which would otherwise be owned by Landlord and leased to Tenant pursuant to this
Lease, could cause Landlord REIT to fail to qualify as a “real estate investment trust” (within the meaning of Section 856(a) of the Code, or any similar or successor provision thereto), then a portion of Landlord REIT’s (or its
subsidiary’s) direct ownership interest in Landlord shall automatically instead be owned by Propco TRS LLC, a Delaware limited liability company, which is a “taxable REIT subsidiary” (within the meaning of Section 856(l) of the Code,
or any similar or successor provision thereto) of Landlord REIT (the “Propco TRS”), to the extent necessary such that Landlord’s ownership of such Leased Property does not cause Landlord REIT to fail to qualify as a real
estate investment trust, provided, there shall be no adjustment in the Rent as a result of the foregoing. 
 1.2 Single,
Indivisible Lease. This Lease constitutes one indivisible lease of the Leased Property and not separate leases governed by similar terms. The Leased Property constitutes one economic unit, and the Rent and all other provisions have been
negotiated and agreed upon based on a demise of all of the Leased Property to Tenant as a single, composite, inseparable transaction and would have been substantially different had separate leases or a divisible lease been intended. Except as
expressly provided in this Lease for specific, isolated purposes (and then only to the extent expressly otherwise stated), all provisions of this Lease apply equally and uniformly to all components of the Leased Property collectively as one unit.
The Parties intend that the provisions of this Lease shall at all times be construed, interpreted and applied so as to carry out their mutual objective to create an indivisible lease of all of the Leased Property and, in particular but without
limitation, that, for purposes of any assumption, rejection or assignment of this Lease under 11 U.S.C. Section 365, or any successor or replacement thereof or any analogous state law, this is one indivisible and
non-severable lease and executory 

  
 2 

 
contract dealing with one legal and economic unit and that this Lease must be assumed, rejected or assigned as a whole with respect to all (and only as to all) of the Leased Property. The Parties
may elect to amend this Lease from time to time to modify the boundaries of the Land, to exclude one or more components or portions thereof, and/or to include one or more additional components as part of the Leased Property, and any such future
addition to the Leased Property shall not in any way change the indivisible and nonseverable nature of this Lease and all of the foregoing provisions shall continue to apply in full force. For the avoidance of doubt, the Parties acknowledge and
agree that this Section 1.2 is not intended to and shall not be deemed to limit, vitiate or supersede anything contained in Section 41.17 hereof. 

1.3 Term. The “Term” of this Lease shall commence on the Commencement Date and expire on the Expiration
Date (i.e., the Term shall consist of the Initial Term plus all Renewal Terms, to the extent exercised as set forth in Section 1.4 below, subject to any earlier termination of the Term pursuant to the terms hereof). The
initial stated term of this Lease (the “Initial Term”) shall commence on October 2, 2017 (the “Commencement Date”) and expire on October 31, 2032 (the “Initial Stated Expiration Date”).
The “Stated Expiration Date” means the Initial Stated Expiration Date or the expiration date of the most recently exercised Renewal Term, as the case may be. 

1.4 Renewal Terms. The Term of this Lease may be extended for four (4) separate “Renewal Terms” of
five (5) years each if (a) at least twelve (12), but not more than eighteen (18), months prior to the then current Stated Expiration Date, Tenant (or, pursuant to Section 17.1(e), a Permitted Leasehold Mortgagee) delivers to
Landlord a “Renewal Notice” stating that it is irrevocably exercising its right to extend this Lease for one (1) Renewal Term; and (b) no Tenant Event of Default shall have occurred and be continuing on the date Landlord
receives the Renewal Notice or on the last day of the then current Term (other than a Tenant Event of Default that is in the process of being cured by a Permitted Leasehold Mortgagee in compliance in all respects with Section 17.1(d) and
Section 17.1(e)). Subject to the provisions, terms and conditions of this Lease, upon Tenant’s timely delivery to Landlord of a Renewal Notice, the Term of this Lease shall be extended for the then applicable Renewal Term. During any
such Renewal Term, except as specifically provided for herein, all of the provisions, terms and conditions of this Lease shall remain in full force and effect. After the last Renewal Term, Tenant shall have no further right to renew or extend the
Term. If Tenant fails to validly and timely exercise any right to extend this Lease, then all subsequent rights to extend the Term shall terminate. 

1.5 Maximum Fixed Rent Term. Notwithstanding anything herein to the contrary, the Term with respect to the Leased
Property shall expire as of the end of the Renewal Term immediately prior to the Renewal Term that would cause the Term to extend beyond the expiration of the Maximum Fixed Rent Term (after taking into account Maximum Fixed Rent Term extensions, if
any, pursuant to clause (c)(iv) of the definition of “Rent”), in which event the Leased Property shall revert to Landlord and all Tenant’s Property relating thereto (including any Gaming Licenses relating thereto) shall remain
owned by Tenant. 

  
 3 

 ARTICLE II 

DEFINITIONS 
 For all
purposes of this Lease, except as otherwise expressly provided or unless the context otherwise requires, (i) the terms defined in this Article II have the meanings assigned to them in this Article and include the plural as well as the
singular and any gender as the context requires; (ii) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP; (iii) all references in this Lease to designated “Articles,”
“Sections,” “Exhibits” and other subdivisions are to the designated Articles, Sections, Exhibits and other subdivisions of this Lease; (iv) the word “including” shall have the same meaning as the phrase
“including, without limitation,” and other similar phrases; (v) the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Lease as a whole and not to any particular
Article, Section or other subdivision; (vi) all Exhibits, Schedules and other attachments annexed to the body of this Lease are hereby deemed to be incorporated into and made an integral part of this Lease; (vii) all references to a range
of Sections, paragraphs or other similar references, or to a range of dates or other range (e.g., indicated by “-” or “through”) shall be deemed inclusive of the entire range so referenced; (viii) for the calculation
of any financial ratios or tests referenced in this Lease, this Lease, regardless of its treatment under GAAP, shall be deemed to be an operating lease and the Rent payable hereunder shall be treated as an operating expense and shall not constitute
indebtedness or interest expense; and (ix) the fact that CEOC is sometimes named herein as “CEOC” is not intended to vitiate or supersede the fact that CEOC is included as one of the entities constituting Tenant. 

“AAA”: As defined in the definition of Appointing Authority. 

“Accepted MCI Financing Proposal”: As defined in Section 10.4(b). 

“Accountant”: Either (i) a firm of independent public accountants designated by Tenant, CEOC or CEC, as applicable and
reasonably acceptable to Landlord, or (ii) a “big four” accounting firm designated by Tenant. 
 “Accounts”:
All Tenant’s accounts, including deposit accounts (but excluding any impound accounts established pursuant to Section 4.1 or any Fee Mortgage Reserve Accounts), all rents, profits, income, revenues or rights to payment
or reimbursement derived from Tenant’s use of any space within the Leased Property or any portion thereof and/or from goods sold or leased or services rendered by Tenant from the Leased Property or any portion thereof (including, without
limitation, from goods sold or leased or services rendered from the Leased Property or any portion thereof by any Subtenant or Affiliated property manager) and all Tenant’s accounts receivable derived from the use of the Leased Property or
goods or services provided from the Leased Property, in each case whether or not evidenced by a contract, document, instrument or chattel paper and whether or not earned by performance, including without limitation, the right to payment of
management fees and all proceeds of the foregoing. 
 “Acquirer”: As defined in Article XVIII. 

  
 4 

 “Additional Charges”: All Impositions and all other amounts, liabilities and
obligations (excluding Rent) which Tenant assumes or agrees or is obligated to pay under this Lease and, in the event of any failure on the part of Tenant to pay any of those items, every fine, penalty, interest and cost which may be added for non-payment or late payment of such items pursuant to the terms hereof or under applicable law. 

“Additional Fee Mortgagee Requirements”: As defined in Section 31.3. 

“Additional Fee Mortgagee Requirements Period”: As defined in Section 31.3. 

“Affected Facility”: The Leased Property, if a Rejected ROFR Property is located in the Restricted Area of the Leased
Property. 
 “Affiliate”: When used with respect to a specified Person, another Person that directly, or indirectly through
one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. In no event shall Tenant or any of its Affiliates be deemed to be an Affiliate of Landlord or any of Landlord’s Affiliates as a
result of this Lease, the Other Leases, the MLSA, the Other MLSAs and/or as a result of any consolidation by Tenant or Landlord of the other such party or the other such party’s Affiliates with Tenant or Landlord (as applicable) for accounting
purposes. 
 “All Property Tests”: Together, the Annual Minimum Cap Ex Requirement and the Triennial Minimum Cap Ex
Requirement A. 
 “Alteration”: Any construction, demolition, restoration, alteration, addition, improvement, renovation or
other physical changes or modifications of any nature in, on or to the Leased Improvements that is not a Capital Improvement. 

“Alteration Security”: As defined in Section 10.1. 

“Alteration Threshold”: As defined in Section 10.1. 

“Annual Minimum Cap Ex Amount”: An amount equal to One Hundred Million and No/100 Dollars ($100,000,000.00), provided,
however, that for purposes of calculating the Annual Minimum Cap Ex Amount, Capital Expenditures during the applicable Fiscal Year shall not include (a) Services Co Capital Expenditures in excess of Twenty-Five Million and No/100 Dollars
($25,000,000.00) nor (b) Capital Expenditures in respect of the London/Chester Properties in excess of Ten Million and No/100 Dollars ($10,000,000.00). The Annual Minimum Cap Ex Amount shall be decreased from time to time (v) upon the
execution of a Severance Lease in accordance with Section 18.2 of the Non-CPLV Lease; (w) upon any transfer or other conveyance of the Leased Property to an Acquirer that is not an Affiliate of
Landlord in accordance with Section 18.1 hereof; (x) in the event of any partial termination of either this Lease or the Other Leases in connection with any Condemnation or in connection with a Casualty Event, or
pursuant to the expiration of the Maximum Fixed Rent Term, in either case in accordance with the express terms of this Lease or the Other Leases (as applicable), in either case that results in the removal of Material Leased Property from this Lease
or the Other Leases (as applicable); (y) in connection with either (i) to the extent applicable to any Other Leases, any disposition of Other Leased Property by a landlord under the Other Leases in accordance with

  
 5 

 
Article XVIII of the Other Leases and the execution of a Severance Lease with respect to such removed Other Leased Property, or (ii) any disposition of all of the Other Leased
Property under any Other Lease in accordance with Article XVIII of such Other Lease and the assignment of such Other Lease to the Acquirer (as defined in such Other Lease); and (z) with respect to the London/Chester Properties, upon the
disposition of any Material London/Chester Property; with such decrease, in each case of clause (v), (w), (x), (y) or (z) above, being equal to the applicable Minimum Cap Ex Reduction Amount. Notwithstanding the foregoing: (1) the sum of
all decreases in the Annual Minimum Cap Ex Amount under clause (z) in respect of any dispositions of any London Clubs property shall not exceed Four Million and No/100 Dollars ($4,000,000.00); (2) the sum of all decreases in the Annual Minimum
Cap Ex Amount under clause (z) in respect of any dispositions of any Chester Property shall not exceed Six Million and No/100 Dollars ($6,000,000.00); (3) in the event of a disposition (in one or a series of transactions) of all or
substantially all of the London Clubs, the Annual Minimum Cap Ex Amount shall be decreased by an amount equal to Four Million and No/100 Dollars ($4,000,000.00); and (4) in the event of a disposition (in one or a series of transactions) of all
of the Chester Property (subject to exclusions for assets that in the aggregate are de minimis), the Annual Minimum Cap Ex Amount shall be decreased by an amount equal to Six Million and No/100 Dollars ($6,000,000.00). Notwithstanding anything
herein to the contrary, fifty percent (50%) of all Capital Expenditures and Other Capital Expenditures constituting Material Capital Improvements or Other Material Capital Improvements shall be credited toward the Annual Minimum Cap Ex Amount
applicable to the Fiscal Years during which such Capital Expenditures or Other Capital Expenditures were incurred, and the other fifty percent (50%) of such Capital Expenditures and Other Capital Expenditures constituting Material Capital
Improvements or Other Material Capital Improvements shall not be credited toward the Annual Minimum Cap Ex Amount. 
 “Annual
Minimum Cap Ex Requirement”: As defined in Section 10.5(a)(i). 
 “Annual Minimum
Per-Lease B&I Cap Ex Requirement”: As defined in Section 10.5(a)(ii). 

“Appointing Authority”: Either (i) the Institute for Conflict Prevention and Resolution (also known as, and shall be
defined herein as, the “CPR Institute”), unless it is unable to serve, in which case the Appointing Authority shall be (ii) the American Arbitration Association (“AAA”) under its Arbitrator Select Program for non-administered arbitrations or whatever AAA process is in effect at the time for the appointment of arbitrators in cases not administered by the AAA, unless it is unable to serve, in which case (iii) the
Parties shall have the right to apply to any court of competent jurisdiction to appoint an Appointing Authority in accordance with the court’s power to appoint arbitrators. The CPR Institute and the AAA shall each be considered unable to serve
if it no longer exists, or if it no longer provides neutral appointment services, or if it does not confirm (in form or substance) that it will serve as the Appointing Authority within thirty (30) days after receiving a written request to serve
as the Appointing Authority, or if, despite agreeing to serve as the Appointing Authority, it does not confirm appointment within sixty (60) days after receiving such written request. 

“Arbitration Provision”: Each of the following: the calculation of the Annual Minimum Cap Ex Amount; the determination of
whether a Capital Improvement constitutes a 

  
 6 

 
Material Capital Improvement; the determination of whether all or a portion of the Leased Property or Other Leased Property constitutes Material Leased Property; the determination of whether all
or a portion of the London/Chester Properties constitutes Material London/Chester Property; the determination of whether the Minimum Facility Threshold is satisfied; the calculation of Net Revenue; the calculation of Rent (without limitation of the
procedures set forth in Section 3.2); the calculation of the Triennial Allocated Minimum Cap Ex Amount B Floor; the calculation of the Triennial Allocated Minimum Cap Ex Amount A; the calculation of the Triennial Allocated
Minimum Cap Ex Amount B; without limitation of the EBITDAR Calculation Procedures, any EBITDAR calculation made pursuant to this Lease or any determination or calculation made pursuant to this Lease for which EBITDAR is a necessary component of such
determination or calculation and the calculation of any amounts under Sections 10.1(a), 10.3, 10.5(a) and 10.5(b). 

“Architect”: As defined in Section 10.2(b). 

“Award”: All compensation, sums or anything of value awarded, paid or received from the applicable authority on a total or
partial Taking or Condemnation, including any and all interest thereon. 
 “Base Net Revenue Amount”: One Hundred
Seventy-Five Million Two Hundred Fifty-Two Thousand One Hundred Forty-One and No/100 Dollars ($175,252,141.00), which amount Landlord and Tenant agree represents Net
Revenue for the Fiscal Period immediately preceding the first (1st) Lease Year. 
 “Base Rent”: The Base Rent component of
Rent, as defined in more detail in clauses (b) and (c) of the definition of “Rent.” 
 “Beginning CPI”:
As defined in the definition of CPI Increase. 
 “Bookings”: Reservations, bookings and short-term arrangements with
conventions, conferences, hotel guests, tours, vendors and other groups or individuals (it being understood that whether or not such arrangements or agreements are short-term or temporary shall be determined without regard to how long in advance
such arrangements or agreements are entered into), in each case entered into in the ordinary course consistent with past practices. 

“Business Day”: Each Monday, Tuesday, Wednesday, Thursday and Friday that (i) is not a day on which national banks in
the City of Las Vegas, Nevada or in New York, New York are authorized, or obligated, by law or executive order, to close, and (ii) is not any other day that is not a “Business Day” as defined under an Other Lease. 

“Cap Ex Reserve”: As defined in Section 10.5(b)(ii). 

“Cap Ex Reserve Funds”: As defined in Section 10.5(b)(ii). 

“Capital Expenditures”: The sum of (i) all expenditures actually paid by or on behalf of Tenant or CEOC, on a
consolidated basis, to the extent capitalized in accordance with GAAP and in a manner consistent with Tenant’s or CEOC’s annual Financial Statements, plus (ii) all Services Co Capital Expenditures; provided that the foregoing shall exclude
capitalized interest. 

  
 7 

 “Capital Improvement”: Any construction, restoration, alteration, addition,
improvement, renovation or other physical changes or modifications of any nature (excluding maintenance, repair and replacement in the ordinary course) in, on, or to the Leased Improvements, including, without limitation, structural alterations,
modifications or improvements of one or more additional structures annexed to any portion of the Leased Improvements or the expansion of existing Leased Improvements, in each case, to the extent that the costs of such activity are or would be
capitalized in accordance with GAAP and in a manner consistent with Tenant’s or CEOC’s Financial Statements, and any demolition in connection therewith. 

“Capital Lease Obligations”: With respect to any Person, the obligations of such Person to pay rent or other amounts under
any lease of (or other similar arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations have been or should be classified and accounted for as capital leases on a balance sheet of such person
under GAAP (as in effect on the date hereof) and, for purposes hereof, the amount of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP (as in effect on the date hereof). 

“Cash”: Cash and cash equivalents and all instruments evidencing the same or any right thereto and all proceeds thereof. 

“Casualty Event”: Any loss, damage or destruction with respect to the Leased Property or any portion thereof. 

“CEC”: Caesars Entertainment Corporation, a Delaware corporation. 

“CEOC”: CEOC, LLC, a Delaware limited liability company, as successor by merger to Caesars Entertainment Operating Company,
Inc., a Delaware corporation. 
 “Change of Control”: With respect to any party, the occurrence of any of the following:
(a) the direct or indirect sale, exchange or other transfer (other than by way of merger, consolidation or amalgamation), in one or a series of related transactions, of all or substantially all the assets of such party and its Subsidiaries,
taken as a whole, to one or more Persons; (b) an officer of such party becomes aware (by way of a report or any other filing pursuant to Section 13(d) of the Exchange Act, proxy, vote, written notice or otherwise) of the consummation of any
transaction or series of related transactions (including, without limitation, any merger, consolidation or amalgamation), the result of which is that any “person” or “group” (as used in Section 13(d)(3) of the Exchange Act) or
any successor provision) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act or any successor provision), directly or indirectly, of
more than fifty percent (50%) of the Voting Stock of such party or other Voting Stock into which such party’s Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of securities or other
ownership interests; (c) the occurrence of a “change of control”, “change in control” (or similar definition) as defined in any indenture, credit agreement or similar debt instrument under which such party is an issuer, a
borrower or other obligor, in each case representing outstanding 

  
 8 

 
indebtedness in excess of One Hundred Million and No/100 Dollars ($100,000,000.00); or (d) such party consolidates with, or merges or amalgamates with or into, any other Person (or any other
Person consolidates with, or merges or amalgamates with or into, such party), in any such event pursuant to a transaction in which any of such party’s outstanding Voting Stock or any of the Voting Stock of such other Person is converted into or
exchanged for cash, securities or other property, other than any such transaction where such party’s Voting Stock outstanding immediately prior to such transaction constitutes, or is converted into or exchanged for, a majority of the
outstanding Voting Stock of the surviving Person or any direct or indirect Parent Entity of the surviving Person immediately after giving effect to such transaction measured by voting power rather than number of securities or other ownership
interests. For purposes of the foregoing definition: (x) a party shall include any Parent Entity of such party; and (y) “Voting Stock” shall mean the securities or other ownership interests of any class or classes having general
voting power under ordinary circumstances, in the absence of contingencies, to elect the directors, managers or trustees (or other similar governing body) of a Person. Notwithstanding the foregoing: (A) the transfer of assets between or among a
party’s wholly owned subsidiaries and such party shall not itself constitute a Change of Control; (B) the term “Change of Control” shall not include a merger, consolidation or amalgamation of such party with, or the sale,
assignment, conveyance, transfer or other disposition of all or substantially all of such party’s assets to, an Affiliate of such party (1) incorporated or organized solely for the purpose of reincorporating such party in another
jurisdiction, and (2) the owners of which and the number and type of securities or other ownership interests in such party, measured by voting power and number of securities or other ownership interests, owned by each of them immediately before
and immediately following such transaction, are materially unchanged; (C) a “person” or “group” shall not be deemed to have beneficial ownership of securities subject to a stock or asset purchase agreement, merger agreement
or similar agreement (or voting or option or similar agreement related thereto) prior to the consummation of the transactions contemplated by such agreement; (D) the Restructuring Transactions (as defined in the Indenture) and any transactions
related thereto shall not constitute a Change of Control; and (E) a transaction will not be deemed to involve a Change of Control in respect of a party if (1) such party becomes a direct or indirect wholly owned subsidiary of a holding
company, and (2) the direct or indirect owners of such holding company immediately following that transaction are the same as the owners of such party immediately prior to that transaction and the number and type of securities or other
ownership interests owned by each such direct and indirect holder immediately following such transaction are materially unchanged from the number and type of securities or other ownership interests owned by such direct and indirect holder in such
party immediately prior to that transaction. 
 “Chester Property”: Those certain casino, race track and land parcels
located at and around 777 Harrah’s Boulevard, Chester, Pennsylvania, and owned directly or indirectly by CEOC. 

“Code”: The Internal Revenue Code of 1986 and, to the extent applicable, the Treasury Regulations promulgated thereunder,
each as amended from time to time. 
 “Commencement Date”: As defined in Section 1.3. 

  
 9 

 “Condemnation”: The exercise of any governmental power, whether by legal
proceedings or otherwise, by any public or quasi-public authority, or private corporation or individual, having such power under Legal Requirements, either under threat of condemnation or while legal proceedings for condemnation are pending. 

“Confidential Information”: In addition to information described in Section 41.22, any information
or compilation of information relating to a business, procedures, techniques, methods, concepts, ideas, affairs, products, processes or services, including source code, information relating to distribution, marketing, merchandising, selling,
research, development, manufacturing, purchasing, accounting, engineering, financing, costs, pricing and pricing strategies and methods, customers, suppliers, creditors, employees, contractors, agents, consultants, plans, billing, needs of customers
and products and services used by customers, all lists of suppliers, distributors and customers and their addresses, prospects, sales calls, products, services, prices and the like, as well as any specifications, formulas, plans, drawings, accounts
or sales records, sales brochures, catalogs, code books, manuals, trade secrets, knowledge, know-how, operating costs, sales margins, methods of operations, invoices or statements and the like. 

“Control”: The possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ownership of voting securities, partnership interests or any other Equity Interests or by contract, and “Controlling” and “Controlled” shall have meanings correlative
thereto. 
 “CPI”: The United States Department of Labor, Bureau of Labor Statistics Revised Consumer Price Index for All
Urban Consumers (1982-84=100), U.S. City Average, All Items, or, if that index is not available at the time in question, then the index designated by such Department as the successor to such index, and if
there is no index so designated, an index for an area in the United States that most closely corresponds to the entire United States, published by such Department, or if none, by any other instrumentality of the United States, all as reasonably
determined by Landlord and Tenant. 
 “CPI Increase”: The greater of (a) zero and (b) a fraction, expressed as a
decimal, determined as of each Escalator Adjustment Date, (x) the numerator of which shall be the difference between (i) the average CPI for the three (3) most recent calendar months (the “Prior Months”) ending prior
to such Escalator Adjustment Date (for which the CPI has been published as of such Escalator Adjustment Date) and (ii) the average CPI for the three (3) corresponding calendar months occurring one (1) year prior to the Prior Months
(such average CPI, the “Beginning CPI”), and (y) the denominator of which shall be the Beginning CPI. 
 “CPR
Institute”: As defined in the definition of Appointing Authority. 
 “Dollars” and “$”: The
lawful money of the United States. 
 “EBITDA”: The same meaning as “EBITDAR” as defined herein but without
giving effect to clause (xi) in the definition thereof. 
 “EBITDAR”: For any applicable twelve (12) month
period, the consolidated net income or loss of a Person on a consolidated basis for such period, determined in accordance with GAAP, provided, however, that without duplication and in each case to the extent included

  
 10 

 
in calculating net income (calculated in accordance with GAAP): (i) income tax expense shall be excluded; (ii) interest expense shall be excluded; (iii) depreciation and
amortization expense shall be excluded; (iv) amortization of intangible assets shall be excluded; (v) write-downs and reserves for non-recurring restructuring-related items (net of recoveries) shall
be excluded; (vi) reorganization items shall be excluded; (vii) any impairment charges or asset write-offs, non-cash gains, losses, income and expenses resulting from fair value accounting required
by the applicable standard under GAAP and related interpretations, and non-cash charges for deferred tax asset valuation allowances, shall be excluded; (viii) any effect of a change in accounting
principles or policies shall be excluded; (ix) any non-cash costs or expense incurred pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or
agreement or any stock subscription or shareholder agreement shall be excluded; (x) any nonrecurring gains or losses (less all fees and expenses relating thereto) shall be excluded; (xi) rent expense shall be excluded; and (xii) the
impact of any deferred proceeds resulting from failed sale accounting shall be excluded. In connection with any EBITDAR calculation made pursuant to this Lease or any determination or calculation made pursuant to this Lease for which EBITDAR is a
necessary component of such determination or calculation, (i) promptly following request therefor, Tenant shall provide Landlord with all supporting documentation and backup information with respect thereto as may be reasonably requested by
Landlord, (ii) such calculation shall be as reasonably agreed upon between Landlord and Tenant, and (iii) if Landlord and Tenant do not agree within twenty (20) days of either party seeking to commence discussions, the same may be
determined by an Expert in accordance with and pursuant to the process set forth in Section 34.2 hereof (clauses (i) through (iii), collectively, the “EBITDAR Calculation Procedures”). 

“EBITDAR Calculation Procedures”: As defined in the definition of EBITDAR. 

“Eligible Account”: A separate and identifiable account from all other funds held by the holding institution that is either
(a) an account or accounts maintained with a federal or state-chartered depository institution or trust company which complies with the definition of Eligible Institution or (b) a segregated trust account or accounts maintained with a
federal or state chartered depository institution or trust company acting in its fiduciary capacity that has a Moody’s rating of at least “Baa2” and which, in the case of a state chartered depository institution or trust company, is
subject to regulations substantially similar to 12 C.F.R. §9.10(b), having in either case a combined capital and surplus of at least Fifty Million and No/100 Dollars ($50,000,000.00) and subject to supervision or examination by federal and
state authority. An Eligible Account will not be evidenced by a certificate of deposit, passbook or other instrument. 
 “Eligible
Institution”: Either (a) a depository institution or trust company insured by the Federal Deposit Insurance Corporation, the short-term unsecured debt obligations or commercial paper of which are rated at least “A-1+” by S&P and “P-1” by Moody’s in the case of accounts in which funds are held for thirty (30) days or less (or, in the case of Letters
of Credit and accounts in which funds are held for more than thirty (30) days, the long-term unsecured debt obligations of which are rated at least “A+” by S&P and “Aa3” by Moody’s), or (b) Wells Fargo Bank,
National Association, provided that the rating by S&P and Moody’s for the short term unsecured debt obligations or commercial paper and long term unsecured debt obligations of the same does not decrease below the ratings set forth in
subclause (a) hereof. 

  
 11 

 “Embargoed Person”: Any person, entity or government subject to trade
restrictions under U.S. law, including, but not limited to, The USA PATRIOT Act (including the anti-terrorism provisions thereof), the International Emergency Economic Powers Act, 50 U.S.C.
§§ 1701, et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder including those related to Specially Designated Nationals and
Specially Designated Global Terrorists, with the result that the applicable transaction is prohibited by law or in violation of law. 

“Environmental Costs”: As defined in Section 32.4. 

“Environmental Laws”: Any and all federal, state, municipal and local laws, statutes, ordinances, rules, regulations, orders,
decrees or judgments, whether statutory or common law, as amended from time to time, now or hereafter in effect, or promulgated, pertaining to the environment, public health and safety and industrial hygiene and relating to the use, generation,
manufacture, production, storage, release, discharge, disposal, handling, treatment, removal, decontamination, cleanup, transportation or regulation of any Hazardous Substance, including the Industrial Site Recovery Act, the Clean Air Act, the Clean
Water Act, the Toxic Substances Control Act, the Comprehensive Environmental Response Compensation and Liability Act, the Resource Conservation and Recovery Act, the Federal Insecticide, Fungicide, Rodenticide Act, the Safe Drinking Water Act and
relevant provisions of the Occupational Safety and Health Act. 
 “Equity Interests”: With respect to any Person, any and
all shares, interests, participations, equity interests, voting interests or other equivalents, including membership interests (however designated, whether voting or non-voting), of equity of such Person,
including, if such Person is a partnership, partnership interests (whether general or limited) and any other interest or participation that confers on a Person the right to receive a share of the profit, and losses of, or distributions of assets of,
such partnership. 
 “Escalator”: The sum of (a) one plus (b) the greater of (i) two one-hundredths (0.02) and (ii) the CPI Increase. 
 “Escalator Adjustment Date”: The
first day of each Lease Year, excluding the first Lease Year of the Initial Term and the first Lease Year of each Renewal Term. 

“Estoppel Certificate”: As defined in Section 23.1(a). 

“Exchange Act”: The Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated
thereunder. 
 “Excluded Assets”: (i) Motor vehicles and other assets subject to certificates of title and letter of credit
rights (in each case, other than to the extent a lien on such assets or such rights can be perfected by filing a UCC-1), and commercial tort claims with a value of less than Fifteen Million and No/100 Dollars
($15,000,000.00), (ii) pledges and security interests (1) prohibited by Legal Requirements (including Gaming Regulations) or contractual obligation (except to the extent such contractual obligation was entered into with the intent to
vitiate the rights of Landlord hereunder, and provided that Tenant shall use good faith efforts, in its commercially reasonable business judgment, to avoid agreeing to contractual obligations that 

  
 12 

 
prohibit pledging of assets that otherwise would constitute Tenant’s Pledged Property) in each case, except to the extent such prohibition is unenforceable after giving effect to the
applicable anti-assignment provisions of Article 9 of the Uniform Commercial Code or (2) which would require governmental (including Gaming Authority) consent, approval, license or authorization to be pledged (to the extent such consent,
approval, license or authorization has not been obtained, it being understood that Tenant shall use commercially reasonable efforts to obtain such consent, approval, license or authorization, but only to the extent such efforts are reasonably
expected to have a reasonable likelihood of resulting in obtaining such consent, approval, license or authorization), in each case, except to the extent such requirement is unenforceable after giving effect to the applicable anti-assignment
provisions of Article 9 of the Uniform Commercial Code, (iii) those assets as to which Landlord and Tenant reasonably agree in writing that the costs or other consequence of obtaining or perfecting such a security interest or perfection thereof
are excessive in relation to the value of the security to be afforded thereby, (iv) any lease, license or other agreement to the extent that a grant of a security interest therein would violate or invalidate such lease, license or agreement or
create a right of termination in favor of any other party thereto (other than Tenant, CEC or any of their Affiliates) after giving effect to the applicable anti-assignment provisions of Article 9 of the Uniform Commercial Code, (v) any
governmental licenses (including gaming licenses) or state or local franchises, charters and authorizations, to the extent security interests in such licenses, franchises, charters or authorizations are prohibited or restricted thereby or require
the consent of any governmental authority (to the extent such consent has not been obtained, it being understood that Tenant shall use commercially reasonable efforts to obtain such consent, but only to the extent such efforts are reasonably
expected to have a reasonable likelihood of resulting in obtaining such consent) in each case, except to the extent such prohibition or restriction is unenforceable after giving effect to the applicable anti-assignment provisions of Article 9 of the
Uniform Commercial Code, (vi) pending United States “intent-to-use” trademark applications for which a verified statement of use or an amendment to allege
use has not been filed with and accepted by the United States Patent and Trademark Office, (vii) any Equity Interests, (viii) other customary exclusions separately agreed in writing between Landlord and Tenant, (ix) any segregated
accounts or funds, or any portion thereof, received by Tenant as agent on behalf of third parties in accordance with a written agreement that imposes a duty upon Tenant to collect and remit those funds to such third parties, (x) any equipment
or other asset that is subject to a purchase money debt arrangement, slot financing arrangement or a personal property lease obligation, if the contract or other agreement providing for such purchase money debt arrangement, slot financing
arrangement or personal property lease obligation prohibits or requires the consent of any Person (other than Tenant, CEC or any of their respective Affiliates) as a condition to the creation of any other security interest on such equipment or asset
and, in each case, to the extent such purchase money debt arrangement, slot financing arrangement or personal property lease obligation is permitted under Section 6.3 hereof, and (xi) proceeds and products of
Tenant’s Pledged Property that do not independently qualify as Tenant’s Pledged Property; provided, that Tenant may in its sole discretion elect to exclude any property from the definition of Excluded Assets. 

“Existing Fee Mortgage”: The Fee Mortgages as in effect on the Commencement Date (if any), together with any amendments,
modifications, and/or supplements thereto after the Commencement Date. 

  
 13 

 “Expert”: An independent third party professional, with expertise in respect of
a matter at issue, appointed by the agreement of Landlord and Tenant or otherwise in accordance with Article XXXIV hereof. 

“Expert Valuation Notice”: As defined in Section 34.1. 

“Expiration Date”: The Stated Expiration Date, or such earlier date as this Lease is terminated pursuant to its terms. 

“Extraordinary Items”: Gains or losses related to events and transactions that both: (a) possess a high degree of
abnormality and are of a type clearly unrelated to, or only incidentally related to, the ordinary and typical activities of the applicable entity, taking into account the environment in which such entity operates; and (b) are of a type
that would not reasonably be expected to recur in the foreseeable future, taking into account the environment in which the applicable entity operates. 

“Facility”: Collectively, (a) the assets comprising (i) a part of the Leased Property as listed on Exhibit A
attached hereto, including the respective Leased Improvements, easements, development rights, and other tangible rights (if any) forming a part thereof or appurtenant thereto, including any and all Capital Improvements (including any Tenant Material
Capital Improvements), and (ii) all of Tenant’s Property, and (b) the business operated by Tenant on or about the Leased Property or Tenant’s Property or any portion thereof or in connection therewith. 

“Fair Market Ownership Value”: The fair market purchase price of the Leased Property, Facility or any applicable part
thereof, as the context requires, as of the estimated transfer date, in its then-condition, that a willing purchaser would pay to a willing seller for Cash on arm’s-length terms (assuming (1) neither
such purchaser nor seller is under any compulsion to sell or purchase and that both have reasonable knowledge of all relevant facts, are acting prudently and knowledgeably in a competitive and open market, and assuming price is not affected by undue
stimulus and (2) neither party is paying any broker a commission in connection with the transaction), taking into account the provisions of Section 34.1(f) if applicable, and otherwise taking all then-relevant factors
into account (whether favorable to one, both or neither Party) and subject to the further factors, as applicable, that are set forth in the definition of “Fair Market Rental Value” herein below as applicable, either (i) as agreed in
writing by Landlord and Tenant, or (ii) as determined in accordance with the procedure specified in Section 34.1 of this Lease. 

“Fair Market Base Rental Value”: The Fair Market Rental Value, as determined with respect to Base Rent only (and not Variable
Rent nor Additional Charges), assuming and taking into account that Variable Rent and Additional Charges shall continue to be paid hereunder during any period in which such Fair Market Base Rental Value shall be paid. 

“Fair Market Property Value”: The fair market purchase price of the applicable personal property (including, solely in the
case of a valuation pursuant to Section 36.3 hereof, rights to or under applicable Intellectual Property), as the context requires, as of the estimated transfer date, in its then-condition, that a willing purchaser would
pay to a willing seller for Cash 

  
 14 

 
on arm’s-length terms (assuming (1) neither such purchaser nor seller is under any compulsion to sell or purchase and that both have reasonable
knowledge of all relevant facts, are acting prudently and knowledgeably in a competitive and open market, and assuming price is not affected by undue stimulus and (2) neither party is paying any broker a commission in connection with the
transaction), and otherwise taking all then-relevant factors into account (whether favorable to one, both or neither Party), either (i) as agreed in writing by Tenant and either Landlord or Successor Tenant (as applicable), or (ii) if not
agreed upon in accordance with clause (i) above, as determined in accordance with the procedure specified in Section 34.1. 

“Fair Market Rental Value”: The annual fixed fair market rental value for the Leased Property or any applicable part thereof
(excluding Tenant Material Capital Improvements), as the context requires, as of the date of commencement of the Renewal Term for which the Fair Market Rental Value is being determined, in its then-condition, that a willing tenant would pay to a
willing landlord on arm’s length terms (assuming (1) neither such tenant nor landlord is under any compulsion to lease and that both have reasonable knowledge of all relevant facts, are acting prudently and knowledgeably in a competitive
and open market, and assuming price is not affected by undue stimulus, (2) such lease contained terms and conditions identical to the terms and conditions of this Lease, other than with respect to the length of term and payment of Rent,
(3) neither party is paying any broker a commission in connection with the transaction, and (4) that the tenant thereunder will pay such Fair Market Rental Value for the entire term of such demise (i.e., no early termination)),
taking into account the provisions of Section 34.1(g), and otherwise taking all then-relevant factors into account (whether favorable to one, both or neither Party), either (i) as agreed in writing by Landlord and
Tenant, or (ii) as determined in accordance with the procedure specified in Section 34.1 of this Lease. In all cases, for purposes of determining the Fair Market Ownership Value or the Fair Market Rental Value, as the
case may be, (A) the Leased Property to be valued pursuant hereto (as improved by all then existing Leased Improvements, and all Capital Improvements thereto, but excluding any Tenant Material Capital Improvements), shall be valued as (or as
part of) a fully-permitted Facility operated in accordance with the provisions of this Lease for the Primary Intended Use, free and clear of any lien or encumbrance evidencing a debt (including any Permitted Leasehold Indebtedness) or judgment
(including any mortgage, security interest, tax lien, or judgment lien) (provided, however, for purposes of determining Fair Market Ownership Value of any applicable Tenant Material Capital Improvements pursuant to Section 10.4(e), the same
shall be valued on the basis of the then-applicable status of any applicable permits, free and clear of only such liens and encumbrances that will be removed if and when conveyed to Landlord pursuant to said Section 10.4(e)), (B) in
determining the Fair Market Ownership Value or Fair Market Rental Value with respect to damaged or destroyed Leased Property, such value shall be determined as if such Leased Property had not been so damaged or destroyed (unless otherwise expressly
provided herein), except that such value with respect to damaged or destroyed Tenant Material Capital Improvements shall only be determined as if such Tenant Material Capital Improvements had been restored if and to the extent Tenant is required to
repair, restore or replace such Tenant Material Capital Improvements under this Lease (provided, however, for purposes of determining Fair Market Ownership Value pursuant to Section 10.4(e), the same shall be valued taking into account any
then-existing damage), and (C) the price shall represent the normal consideration for the property sold (or leased) unaffected by sales (or leasing) concessions granted by anyone associated with the transaction. In addition, the following
specific matters shall be factored in or out, as appropriate, in determining Fair Market Ownership Value or Fair 

  
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Market Rental Value as the case may be: (i) the negative value of (x) any deferred maintenance or other items of repair or replacement of the Leased Property to the extent arising from
breach or failure of Tenant to perform or observe its obligations hereunder, (y) any then current or prior Gaming or other licensure violations by Tenant, Guarantor or any of their Affiliates, and (z) any breach or failure of Tenant to
perform or observe its obligations hereunder (in each case with respect to the foregoing clauses (x), (y) and (z), without giving effect to any applicable cure periods hereunder), shall, in each case, when determining Fair Market Ownership Value or
Fair Market Rental Value, as the case may be, not be taken into account; rather, the Leased Property and every part thereof shall be deemed to be in the condition required by this Lease and Tenant shall at all times be deemed to have operated the
Facility in compliance with and to have performed all obligations of Tenant under this Lease (provided, however, for purposes of determining Fair Market Ownership Value under Section 10.4(e), the negative value of the items described in
clauses (x), (y) and (z) shall be taken into account); and (ii) in the case of a determination of Fair Market Rental Value, such determination shall be without reference to any savings Landlord may realize as a result of any extension of
the Term of this Lease, such as savings in free rent and tenant concessions, and without reference to any “start-up” costs a new tenant would incur were it to replace the existing Tenant for any
Renewal Term or otherwise. The determination of Fair Market Rental Value shall be of Base Rent and Variable Rent (but not Additional Charges), and shall assume and take into account that Additional Charges shall continue to be paid hereunder during
any period in which such Fair Market Rental Value shall be paid. For the avoidance of doubt, the annual Fair Market Rental Value shall be calculated and evaluated as a whole for the entire term in question, and may reflect increases in one or more
years during the applicable term in question (i.e., the annual Fair Market Rental Value need not be identical for each year of the term in question). 

“Fee Mortgage”: Any mortgage, pledge agreement, security agreement, assignment of leases and rents, fixture filing or similar
document creating or evidencing a lien on Landlord’s interest in the Leased Property or any portion thereof (or an indirect interest therein, including without limitation, a lien on direct or indirect interests in Landlord) in accordance with
the provisions of Article XXXI hereof. 
 “Fee Mortgage Documents”: With respect to each Fee Mortgage and Fee
Mortgagee, the applicable Fee Mortgage, loan agreement, pledge agreement, debt agreement, credit agreement or indenture, lease, note, collateral assignment instruments, guarantees, indemnity agreements and other documents or instruments evidencing,
securing or otherwise relating to the loan made, credit extended, or lease or other financing vehicle entered into pursuant thereto. 

“Fee Mortgagee”: The holder(s) or lender(s) under any Fee Mortgage or the agent or trustee acting on behalf of any such
holder(s) or lender(s). 
 “Fee Mortgage Reserve Account”: As defined in Section 31.3. 

“FF&E”: Collectively, furnishings, fixtures, inventory, and equipment located in the guest rooms, hallways, lobbies,
restaurants, lounges, meeting and banquet rooms, parking facilities, public areas or otherwise in any portion of the Facility, including (without limitation) all beds, chairs, bookcases, tables, carpeting, drapes, couches, luggage carts, luggage
racks, bars, 

  
 16 

 
bar fixtures, radios, television sets, intercom and paging equipment, electric and electronic equipment, heating, lighting and plumbing fixtures, fire prevention and extinguishing apparatus,
cooling and air-conditioning systems, elevators, escalators, stoves, ranges, refrigerators, laundry machines, tools, machinery, boilers, incinerators, switchboards, conduits, compressors, vacuum cleaning
systems, floor cleaning, waxing and polishing equipment, cabinets, lockers, shelving, dishwashers, garbage disposals, washer and dryers, gaming equipment and other casino equipment and all other hotel and casino resort equipment, supplies and other
tangible property owned by Tenant, or in which Tenant has or shall have an interest, now or hereafter located at the Leased Property or used or held for use in connection with the present or future operation and occupancy of the Facility;
provided, however, that FF&E shall not include items owned by subtenants that are neither Tenant nor Affiliates of Tenant, by guests or by other third parties. 

“Financial Statements”: (i) For a Fiscal Year, consolidated statements of a Person’s and its Reporting
Subsidiaries’, if any, income, stockholders’ equity and comprehensive income and cash flows for such period and the related consolidated balance sheet as at the end of such period, together with the notes thereto, all in reasonable detail
and setting forth in comparative form the corresponding figures for the corresponding period in the preceding Fiscal Year and prepared in accordance with GAAP and audited by a “big four” or other nationally recognized accounting firm, and
(ii) for a Fiscal Quarter, consolidated statements of a Person’s and its Reporting Subsidiaries’, if any, income, stockholders’ equity and comprehensive income and cash flows for such period and for the period from the beginning
of the Fiscal Year to the end of such period and the related consolidated balance sheet as at the end of such period, together with the notes thereto, all in reasonable detail and setting forth in comparative form the corresponding figures for the
corresponding period in the preceding Fiscal Year or Fiscal Quarter, as the case may be, and prepared in accordance with GAAP. 

“First Variable Rent Period”: As defined in clause (b)(ii)(A) of the definition of “Rent.” 

“First VRP Net Revenue Amount”: As defined in clause (b)(ii)(A)(x) of the definition of “Rent.” 

“Fiscal Quarter”: With respect to any Person, for any date of determination, a fiscal quarter for each Fiscal Year of such
Person. In the case of each of Tenant and CEC, “Fiscal Quarter” means each calendar quarter ending on March 31, June 30, September 30 and December 31, for each Fiscal Year of Tenant. 

“Fiscal Period”: With respect to any Person, for any date of determination, the period of the four (4) most recently
ended consecutive Fiscal Quarters of such Person for which Financial Statements are available. 
 “Fiscal Year”: The annual
period commencing January 1 and terminating December 31 of each year. 
 “Fixtures”: All equipment, machinery,
fixtures and other items of property, including all components thereof, that are now or hereafter located in or on, or used in connection with, and permanently affixed to or otherwise incorporated into the Leased Improvements or the Land. 

  
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 “Foreclosure Purchaser”: As defined in Section 31.1.

 “Foreclosure Successor Tenant”: Either (i) any assignee pursuant to Sections 22.2(i)(b) or (c), or
(ii) any Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee that enters into a New Lease in compliance in all respects with Section 17.1(f) and all other applicable provisions of this Lease. 

“GAAP”: Generally accepted accounting principles in the United States consistently applied in the preparation of financial
statements, as in effect from time to time. 
 “Gaming”: Casino, racetrack, racino, video lottery terminal or other gaming
activities, including, but not limited to, the operation of slot machines, video lottery terminals, table games, pari-mutuel wagering or other applicable types of wagering (including, but not limited to, sports wagering). 

“Gaming Authorities”: Any gaming regulatory body or any agency or governmental authority which has, or may at any time after
the Commencement Date have, jurisdiction over the gaming activities at the Leased Property or any successor to such authority. 

“Gaming Facility”: A facility at which there are operations of slot machines, video lottery terminals, blackjack, baccarat,
keno operation, table games, any other mechanical or computerized gaming devices, pari-mutuel wagering or other applicable types of wagering (including, but not limited to, sports wagering), or which is otherwise operated for purposes of Gaming, and
all related or ancillary real property. 
 “Gaming License”: Any license, qualification, registration, accreditation,
permit, approval, finding of suitability or other authorization issued by a state or other governmental regulatory agency (including any Native American tribal gaming or governmental authority) or Gaming Authority to operate, carry on or conduct any
gaming, gaming device, slot machine, video lottery terminal, table game, race book or sports pool on the Leased Property or any portion thereof, or to operate a casino at the Leased Property required by any Gaming Regulation, including each of the
licenses, permits or other authorizations set forth on Schedule 1, and including those related to the Leased Property that may be added to this Lease after the Commencement Date. 

“Gaming Regulation(s)”: Any and all laws, statutes, ordinances, rules, regulations, policies, orders, codes, decrees or
judgments, and Gaming License conditions or restrictions, as amended from time to time, now or hereafter in effect or promulgated, pertaining to the operation, control, maintenance, alteration, modification or capital improvement of a Gaming
Facility or the conduct of a person or entity holding a Gaming License, including, without limitation, any requirements imposed by a regulatory agency, commission, board or other governmental body pursuant to the jurisdiction and authority granted
to it under applicable law, and all other rules, regulations, orders, ordinances and legal requirements of any Gaming Authority. 

  
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 “Gaming Revenues”: As defined in the definition of “Net Revenue.” 

“Government List”: (1) any list or annex to Presidential Executive Order 13224 issued on September 24, 2001
(“EO13224”), including any list of Persons who are determined to be subject to the provisions of EO13224 or any other similar prohibitions contained in the rules and regulations of OFAC (as defined below) or in any enabling
legislation or other Presidential Executive Orders in respect thereof, (2) the Specially Designated Nationals and Blocked Persons Lists maintained by OFAC, (3) any other list of terrorists, terrorist organizations or narcotics traffickers
maintained pursuant to any of the Rules and Regulations of OFAC, or (4) any similar lists maintained by the United States Department of State, the United States Department of Commerce or any other governmental authority or pursuant to any
Executive Order of the President of the United States of America. 
 “Ground Leased Property”: The real property leased
pursuant to the Ground Leases. 
 “Ground Leases”: Collectively, those certain leases with respect to real property that is
a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases are in existence as of the Commencement Date and listed on Schedule 2 hereto or, subject to Section 7.3, subsequently added to
the Leased Property in accordance with the provisions of this Lease. Each of the Ground Leases is referred to individually herein as a “Ground Lease.” 

“Ground Lessor”: As defined in Section 7.3. 

“Guarantor”: CEC, together with its successors and permitted assigns, in its capacity as “Lease Guarantor” under
the MLSA. 
 “Guarantor EOD Conditions”: Both (i) a Leasehold Foreclosure with MLSA Assumption (as defined in the
MLSA) has occurred, and (ii) Guarantor is not an Affiliate of Tenant. 
 “Guest Data”: Any and all information and
data identifying, describing, concerning or generated by prospective, actual or past guests, family members, website visitors and customers of casinos, hotels, retail locations, restaurants, bars, spas, entertainment venues, or other facilities or
services, including without limitation any and all guest or customer profiles, contact information (e.g., addresses, phone numbers, facsimile numbers and email addresses), histories, preferences, game play and patronage patterns, experiences,
results and demographic information, whether or not any of the foregoing constitutes personally identifiable information, together with any and all other guest or customer information in any database of Tenant, Services Co, Manager or any of their
respective Affiliates, regardless of the source or location thereof, and including without limitation such information obtained or derived by Tenant, Services Co, Manager or any of their respective Affiliates from: (i) guests or customers of
the Facility (for the avoidance of doubt, including Property Specific Guest Data); (ii) guests or customers of any Other Facility (including any condominium or interval ownership properties) owned, leased, operated, licensed or franchised by Tenant
or any of its Affiliates, or any facility associated with any such Other Facility (including restaurants, golf courses and spas); or (iii) any other sources and databases, including websites, central reservations databases, operational data
base (ODS) and any player loyalty programs (e.g., the Total Rewards Program (as defined in the MLSA)). 

  
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 “Handling”: As defined in Section 32.4. 

“Hazardous Substances”: Collectively, any petroleum, petroleum product or by product or any substance, material or waste
regulated pursuant to any Environmental Law. 
 “Impositions”: Collectively, all taxes, including ad valorem, sales, use,
single business, gross receipts, transaction privilege, rent or similar taxes; assessments, including assessments for public improvements or benefits, whether or not commenced or completed prior to the Commencement Date and whether or not to be
completed within the Term; ground rents pursuant to Ground Leases (in effect as of the Commencement Date or otherwise entered into in accordance with this Lease); water, sewer and other utility levies and charges; excise tax levies; license, permit,
inspection, authorization and similar fees; bonds and all other governmental charges, in each case whether general or special, ordinary or extraordinary, or foreseen or unforeseen, of every character to the extent in respect of the Leased Property
or any portion thereof and/or the Rent and Additional Charges (but not, for the avoidance of doubt, in respect of Landlord’s income (as specified in clause (a) below)) and all interest and penalties thereon attributable to any failure in
payment by Tenant, which at any time prior to or during the Term may be assessed or imposed on or in respect of or be a lien upon (i) Landlord or Landlord’s interest in the Leased Property or any portion thereof, (ii) the Leased
Property or any portion thereof or any rent therefrom or any estate, right, title or interest therein, or (iii) any occupancy, operation, use or possession of, or sales from or activity conducted on or in connection with the Leased Property or
any portion thereof or the leasing or use of the Leased Property or any portion thereof; provided, however that nothing contained in this Lease shall be construed to require Tenant to pay (a) any tax, fee or other charge based on
net income (whether denominated as a franchise or capital stock or other tax) imposed on Landlord or any other Person (except Tenant and its successors), (b) any transfer, or net revenue tax of Landlord or any other Person (except Tenant and
its successors), (c) any tax imposed with respect to the sale, exchange or other disposition by Landlord of the Leased Property or any portion thereof or the proceeds thereof, (d) any principal or interest on or other amount in respect of
any indebtedness on or secured by the Leased Property or any portion thereof for which Landlord (or any of its Affiliates) is the obligor, or (e) any principal or interest on or other amount in respect of any indebtedness of Landlord or its
Affiliates that is not otherwise included as “Impositions” hereunder; provided, further, however, that Impositions shall include (and Tenant shall be required to pay in accordance with the provisions of this Lease) (x)
any tax, assessment, tax levy or charge set forth in clause (a) or (b) of the preceding proviso that is levied, assessed or imposed in lieu of, or as a substitute for, any Imposition (and, without limitation, if at any time during the Term the
method of taxation prevailing at the Commencement Date shall be altered so that any new, non-income-based tax, assessment, levy (including, but not limited to, any city, state or federal levy), imposition or
charge, or any part thereof, shall be measured by or be based in whole or in part upon the Leased Property, or any part thereof, and shall be imposed upon Landlord, then all such new taxes, assessments, levies, impositions or charges, or the part
thereof to the extent that they are so measured or based, shall be deemed to be included within the term “Impositions” for the purposes hereof, to the extent that such Impositions would be payable if the Leased Property were the only
property of Landlord subject to such Impositions, and Tenant 

  
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shall pay and discharge the same as herein provided in respect of the payment of Impositions), (y) any transfer taxes or other levy or assessment imposed by reason of any assignment of this Lease
(other than an assignment of this Lease made by Landlord) or any interest therein subsequent to the execution and delivery hereof, or any transfer or Sublease or termination thereof and (z) any mortgage tax or mortgage recording tax imposed by
reason of any Permitted Leasehold Mortgage or any other instrument creating or evidencing a lien in respect of indebtedness of Tenant or its Affiliates (but not any mortgage tax or mortgage recording tax imposed by reason of a Fee Mortgage or any
other instrument creating or evidencing a lien in respect of indebtedness of Landlord or its Affiliates). 
 “Incurable
Default”: Collectively or individually, as the context may require, the defaults referred to in Sections 16.1(c), 16.1(d), 16.1(e), 16.1(h) (as to judgments against Guarantor only), 16.1(i), 16.1(n)
and 16.1(r) and any other defaults not reasonably susceptible to being cured by a Permitted Leasehold Mortgagee or a subsequent owner of the Leasehold Estate through foreclosure thereof. 

“Indenture”: That certain First-Priority Senior Secured Floating Rate Notes due 2022 Indenture dated October 2, 2017,
among Propco I, VICI FC Inc., a Delaware corporation, VICI NC LLC, a Delaware limited liability company, the Subsidiary Guarantors (as defined therein) party thereto from time to time, and UMB Bank, National Association, as trustee. 

“Initial Stated Expiration Date”: As defined in Section 1.3. 

“Initial Term”: As defined in Section 1.3. 

“Insurance Requirements”: The terms of any insurance policy required by this Lease and all requirements of the issuer of any
such policy and of any insurance board, association, organization or company necessary for the maintenance of any such policy. 

“Intellectual Property” or “IP”: All rights in, to and under any of the following, as they exist anywhere in
the world, whether registered or unregistered: (i) all patents and applications therefor and all reissues, divisions, divisionals, renewals, extensions, provisionals, continuations and continuations-in-part thereof, and all patents, applications, documents and filings claiming priority to or serving as a basis for priority thereof, (ii) all inventions (whether or not patentable),
invention disclosures, improvements, Business Information, Confidential Information, Software, formulas, drawings, research and development, business and marketing plans and proposals, tangible and intangible proprietary information, and all
documentation relating to any of the foregoing, (iii) all copyrights, works of authorship, copyrightable works, copyright registrations and applications therefor, and all other rights corresponding thereto, (iv) all industrial designs and
any registrations and applications therefor, (v) all trademarks, service marks, trade dress, logos, trade names, assumed names and corporate names, Internet domain names and other numbers, together with all translations, adaptations,
derivations and combinations thereof and including all goodwill associated therewith, and all applications, registrations and renewals in connection therewith (“Trademarks”), (vi) all databases and data collections (including all
Guest Data) and all rights therein, (vii) all moral and economic rights of authors and inventors, however denominated, (viii) all Internet addresses, sites and domain names, numbers, and social media user names and accounts, (ix) any
other similar intellectual property and proprietary rights of any kind, nature or description; and (x) any copies of tangible embodiments thereof (in whatever form or medium). 

  
 21 

 “Intercreditor Agreement”: That certain Intercreditor Agreement, dated as of the
date hereof, by and among Landlord, Credit Suisse AG, Cayman Islands Branch, as Credit Agreement Collateral Agent (as defined therein), each additional Tenant Financing Collateral Agent (as defined therein) that becomes a party thereto pursuant to
Section 9.6 thereof, Tenant and Wilmington Trust, National Association, as collateral agent for the First Lien Secured Parties, Wilmington Trust, as Authorized Representative for the Credit Agreement Secured Parties and UMB Bank, National
Association, as Authorized Representative for the Initial Other First Lien Secured Parties and Wilmington Trust, National Association as Credit Agreement Agent, UMB Bank, National Association as Initial Other First Priority Lien Obligations Agent
and UMB Bank, National Association, as trustee under the Second Priority Senior Secured Notes Indenture and as collateral agent under the Collateral Agreement (Second Lien) dated as of October 2, 2017, among the Issuers, certain other Grantors
and the Trustee in respect of the Second Priority Senior Secured Notes Indenture, each as lender under the Landlord Financing Agreement (as defined therein). 

“Joliet Partner”: Des Plaines Development Holdings, LLC. 

“Land”: As defined in clause (a) of the first sentence of Section 1.1.

 “Landlord”: As defined in the preamble. 

“Landlord Indemnified Parties”: As defined in Section 21.1(i). 

“Landlord MCI Financing”: As defined in Section 10.4(b). 

“Landlord REIT”: VICI Properties Inc., a Maryland corporation, the indirect parent of Landlord. 

“Landlord Tax Returns”: As defined in Section 4.1(a). 

“Landlord Work”: As defined in Section 10.5(e). 

“Landlord’s Enforcement Condition”: Either (i) there are no Permitted Leasehold Mortgagees or (ii) Landlord
has delivered to each Permitted Leasehold Mortgagee for which notice to Landlord has been properly provided pursuant to Section 17.1(b)(i) hereof, a copy of the applicable notice of default pursuant to Section 17.1(c) hereof and the
Right to Terminate Notice pursuant to Section 17.1(d) hereof, and (solely for purposes of this clause (ii)) either of the following occurred: 

(a) Either (1) no Permitted Leasehold Mortgagee has satisfied the requirements in Section 17.1(d) within the thirty (30) or
ninety (90) day periods, as applicable, described therein, or (2) a Permitted Leasehold Mortgagee satisfied the requirements in Section 17.1(d) prior to the expiration of the applicable period, but did not cure a default that is
required to be so cured by such Permitted Leasehold Mortgagee and such Permitted Leasehold Mortgagee discontinued efforts to cure the applicable default(s) thereby failing to satisfy the conditions for extending the termination date as provided in
Section 17.1(e) or otherwise failed at any time to satisfy the conditions for extending the termination date as provided in Section 17.1(e)(i); or 

  
 22 

 (b) Both (1) this Lease is rejected in any bankruptcy, insolvency or dissolution proceeding
or is terminated by Landlord following a Tenant Event of Default, and (2) no Permitted Leasehold Mortgagee has acted in accordance with Section 17.1(f) hereof to obtain a New Lease prior to the expiration of the period described therein.

 “Landlord’s MCI Financing Proposal”: As defined in Section 10.4(a). 

“Landlord Specific Ground Lease Requirements”: As defined in Section 7.3(a). 

“Lease”: As defined in the preamble. 

“Lease Assumption Agreement”: As defined in Section 22.2(i). 

“Lease Foreclosure Transaction”: Either (i) an assignment pursuant to Section 22.2(i)(b) or (c), or
(ii) entry by any Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee into a New Lease in compliance in all respects with Section 17.1(f) and all other applicable provisions of this Lease. 

“Lease/MLSA Related Agreements”: Collectively, this Lease, the Other Leases, the MLSA, the Other MLSAs, the Transition
Services Agreement, the Other Transition Services Agreement, the Intercreditor Agreement and the Other Intercreditor Agreement. 

“Lease Year”: The first Lease Year of the Term shall be the period commencing on the Commencement Date and ending on the last
day of the calendar month in which the first (1st) anniversary of the Commencement Date occurs, and each subsequent Lease Year shall be each period of twelve (12) full calendar months after the last day of the prior Lease Year, except that the
final Lease Year of the Term shall end on the Expiration Date. 
 “Leased Improvements”: As defined in
clause (c) of the first sentence of Section 1.1. 
 “Leased Property”:
As defined in Section 1.1. For the avoidance of doubt, the Leased Property includes all Alterations and Capital Improvements, provided, however, that the foregoing shall not affect or contradict the provisions
of this Lease which specify that Tenant shall be entitled to certain rights with respect to or benefits of the Tenant Capital Improvements as expressly set forth herein. Notwithstanding the foregoing, provisions of this Lease that provide for
certain benefits or rights to Tenant with respect to Tenant Material Capital Improvements, such as, by way of example only and not by way of limitation, the payment of the applicable insurance proceeds to Tenant due to a loss or damage of such
Tenant Material Capital Improvements pursuant to Section 14.1, shall remain in effect notwithstanding the preceding sentence. 

“Leased Property Tests”: Together, the Annual Minimum Per-Lease B&I Cap Ex
Requirement and the Triennial Minimum Cap Ex Requirement B. 

  
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 “Leasehold Estate”: As defined in Section 17.1(a). 

“Legal Requirements”: All applicable federal, state, county, municipal and other governmental statutes, laws (including
securities laws), rules, policies, guidance, codes, orders, regulations, ordinances, permits, licenses, covenants, conditions, restrictions, judgments, decrees and injunctions, whether now or hereafter enacted and in force, as applicable to any
Person or to the Facility, including those (a) that affect either the Leased Property or any portion thereof and/or Tenant’s Property, all Capital Improvements and Alterations (including any Material Capital Improvements) or the
construction, use or alteration thereof, or otherwise in any way affecting the business operated or conducted thereat, as the context requires, and (b) which may (i) require repairs, modifications or alterations in or to the Leased
Property or any portion thereof and/or any of Tenant’s Property, (ii) without limitation of the preceding clause (i), require repairs, modifications or alterations in or to any portion of any Capital Improvements (including any Material
Capital Improvements), (iii) in any way adversely affect the use and enjoyment of any of the foregoing, or (iv) regulate the transport, handling, use, storage or disposal or require the cleanup or other treatment of any Hazardous
Substance. 
 “Letter of Credit”: An irrevocable, unconditional, clean sight draft letter of credit reasonably acceptable
to Landlord and Fee Mortgagee (as applicable) in favor of Landlord or, at Landlord’s direction, Fee Mortgagee and entitling Landlord or Fee Mortgagee (as applicable) to draw thereon based solely on a statement executed by an officer of Landlord
or Fee Mortgagee (as applicable) stating that it has the right to draw thereon under this Lease in a location in the United States reasonably acceptable to Landlord or Fee Mortgagee (as applicable), issued by a domestic Eligible Institution or the
U.S. agency or branch of a foreign Eligible Institution, and upon which letter of credit Landlord or Fee Mortgagee (as applicable) shall have the right to draw in full: (a) if Landlord or Fee Mortgagee (as applicable) has not received at least
thirty (30) days prior to the date on which the then outstanding letter of credit is scheduled to expire, a notice from the issuing financial institution that it has renewed the applicable letter of credit; (b) thirty (30) days prior
to the date of termination following receipt of notice from the issuing financial institution that the applicable letter of credit will be terminated; and (c) thirty (30) days after Landlord or Fee Mortgagee (as applicable) has given
notice to Tenant that the financial institution issuing the applicable letter of credit ceases to either be an Eligible Institution or meet the rating requirement set forth above. 

“Licensing Event”: 

(a) With respect to Tenant, (i) a communication (whether oral or in writing) by or from any Gaming Authority to either Tenant or Manager
or any of their respective Affiliates (each, a “Tenant Party”) or to a Landlord Party (as defined below) or other action by any Gaming Authority that indicates that such Gaming Authority may find that the association of a Tenant
Party with Landlord is likely to (A) result in a disciplinary action relating to, or the loss of, inability to reinstate or failure to obtain, any Gaming License or any other rights or entitlements held or required to be held by Landlord or any
of its Affiliates (each, a “Landlord Party”) under any Gaming Regulations or (B) violate any Gaming Regulations to which a Landlord Party is subject; or (ii) a Tenant Party is required to be licensed, registered, qualified
or found suitable under any Gaming Regulations, and such Tenant Party does not remain so licensed, registered, qualified or found suitable or, after becoming so licensed, registered, 

  
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qualified or found suitable, fails to remain so, and solely for purposes of determining whether a Tenant Event of Default has occurred under Section 16.1(l), the same causes cessation of
Gaming activity at a Continuous Operation Facility (as defined in the Non-CPLV Lease) and would reasonably be expected to have a material adverse effect on the Facility (taken as a whole with the Non-CPLV Facilities); and 
 (b) With respect to Landlord, (i) a communication (whether oral or in
writing) by or from any Gaming Authority to a Landlord Party or to a Tenant Party or other action by any Gaming Authority that indicates that such Gaming Authority may find that the association of a Landlord Party with Tenant is likely to
(A) result in a disciplinary action relating to, or the loss of, inability to reinstate or failure to obtain, any Gaming License or any other rights or entitlements held or required to be held by a Tenant Party under any Gaming Regulations or
(B) violate any Gaming Regulations to which a Tenant Party is subject; or (ii) a Landlord Party is required to be licensed, registered, qualified or found suitable under any Gaming Regulations, and such Landlord Party does not remain so
licensed, registered, qualified or found suitable or, after becoming so licensed, registered, qualified or found suitable, fails to remain so, and solely for purposes of determining whether a default has occurred under
Section 41.13 hereunder, the same causes cessation of Gaming activity at a Continuous Operation Facility (as defined in the Non-CPLV Lease) and would reasonably be expected to have a
material adverse effect on the Facility (taken as a whole with the Non-CPLV Facilities). 

“Liquor Authority”: As defined in Section 41.13. 

“Liquor Laws”: As defined in Section 41.13. 

“London Clubs”: Those certain assets described on Schedule 6 attached hereto. 

“London/Chester Properties”: Collectively, the London Clubs and the Chester Property. 

“Manager”: Joliet Manager, LLC, a Delaware limited liability company, together with its successors and permitted assigns, in
its capacity as “Manager” under the MLSA. 
 “Material Capital Improvement”: Any single or series of related
Capital Improvements that would or does (i) have a total budgeted or actual cost (as reasonably evidenced to Landlord) (excluding land acquisition costs) in excess of Fifty Million and No/100 Dollars ($50,000,000.00) and (ii) either
(a) materially alter the Facility (e.g., shoring, permanent framework reconfigurations), (b) expand the Facility (i.e., construction of material additions to existing Leased Improvements) or (c) add improvements to
undeveloped portion(s) of the Land. 
 “Material Leased Property”: Leased Property or Other Leased Property, or any portion
thereof, having a value greater than Fifty Million and No/100 Dollars ($50,000,000.00). 
 “Material London/Chester
Property”: All or any portion of the London/Chester Properties having a value greater than Fifty Million and No/100 Dollars ($50,000,000.00). 

“Material Sublease”: A Sublease (excluding a management agreement or similar agreement to operate but not occupy as a tenant
a particular space at the Facility) under which 

  
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the rent and/or fees and other payments payable by the Subtenant (or manager) exceed Fifty Thousand and No/100 Dollars ($50,000.00) (which amount shall be increased by the Escalator on the first
(1st) day of each Lease Year (commencing on the first (1st) day of the second (2nd) Lease Year)) per month. 
 “Maximum Fixed Rent
Term”: With respect to the Leased Property, the Maximum Fixed Rent Term as set forth on Schedule 3 attached hereto, as it may be extended in accordance with clause (c) of the definition of “Rent”. 

“Minimum Cap Ex Amount”: The Annual Minimum Cap Ex Amount, the Triennial Minimum Cap Ex Amount A and/or the Triennial Minimum
Cap Ex Amount B, as applicable. 
 “Minimum Cap Ex Reduction Amount”: In each instance in which any Material Leased
Property is removed from this Lease or any Other Leases (as applicable), the landlord under the applicable Other Leases disposes of Other Leased Property and a third party Severance Lease is executed, Landlord disposes of all of the Leased Property
and this Lease is assigned to a third party Acquirer, or Material London/Chester Property is disposed of, all as described in the definitions of Annual Minimum Cap Ex Amount, Triennial Minimum Cap Ex Amount A and Triennial Minimum Cap Ex Amount B
(as applicable), the product of (i) the applicable Minimum Cap Ex Amount or Triennial Allocated Minimum Cap Ex Amount B Floor in effect immediately prior thereto, multiplied by (ii) a fraction, the numerator of which shall be equal to the
portion of the EBITDAR of Tenant or the Other Tenants (as applicable) for the Trailing Test Period attributable to the Leased Property, Other Leased Property or London/Chester Properties (or portion of any thereof) (as applicable) being so removed
or disposed of (as applicable), and the denominator of which shall be equal to the aggregate EBITDAR of Tenant and Other Tenants for the Trailing Test Period attributable to all assets then included in the calculation of Capital Expenditures for
purposes of the All Property Tests (with respect to the Annual Minimum Cap Ex Amount and the Triennial Minimum Cap Ex Amount A) or the Leased Property Tests (with respect to the Triennial Minimum Cap Ex Amount B and the Triennial Allocated Minimum
Cap Ex Amount B Floor) (including, for this purpose, the Leased Property, Other Leased Property or London/Chester Properties (or portion of any thereof) (as applicable) being so removed or disposed of (as applicable)). 

“Minimum Cap Ex Requirements”: The Annual Minimum Cap Ex Requirement, the Annual Minimum
Per-Lease B&I Cap Ex Requirement, the Triennial Minimum Cap Ex Requirement A and the Triennial Minimum Cap Ex Requirement B, as applicable. 

“Minimum Facility Threshold”: (i) Not less than two thousand five hundred (2,500) rooms, one hundred thousand (100,000)
square feet of casino floor containing no less than one thousand three hundred (1,300) slot machines and one hundred (100) gaming tables, (ii) revenue of no less than Seventy-Five Million and No/100 Dollars ($75,000,000.00) per year is
derived from high limit VVIP and international gaming customers, (iii) extensive operated food and beverage outlets, and (iv) at least one (1) large entertainment venue; provided, however, that the foregoing clause
(ii) may be satisfied if the Qualified Replacement Manager has managed a property that satisfies the requirements of such clause (ii) within the immediately preceding two (2) years. 

  
 26 

 “MLSA”: That certain Management and Lease Support Agreement (Joliet) dated of
even date herewith by and among Guarantor, Manager, Affiliates of Manager, Tenant and Landlord, as amended, restated or otherwise modified from time to time. 

“Net Revenue”: The net sum of the following, without duplication, over the applicable time period of measurement:
(i) the amount received by Tenant (and its Subsidiaries) from patrons at the Facility for gaming, less, (A) to the extent otherwise included in the calculation of Net Revenue, refunds and free promotional play provided pursuant to a
rewards, marketing, and/or frequent users program (including rewards granted by Affiliates of Tenant) and (B) amounts returned to patrons through winnings at the Facility (the net amount described in this clause (i), “Gaming
Revenues”); plus (ii) the gross receipts of Tenant (and its Subsidiaries) for all goods and merchandise sold, room revenues derived from hotel operations, food and beverages sold, the charges for all services performed,
or any other revenues generated by or otherwise payable to Tenant (and its Subsidiaries) (including, without limitation, use fees, retail and commercial rent, revenue from rooms, accommodations, food and beverage, and the proceeds of business
interruption insurance) in, at or from the Facility for cash, credit or otherwise (without reserve or deduction for uncollected amounts), but excluding pass-through revenues collected by Tenant to the extent such amounts are remitted to the
applicable third party entitled thereto (the net amounts described in this clause (ii), “Retail Sales”); less (iii) to the extent otherwise included in the calculation of Net Revenue, the retail value of
accommodations, merchandise, food and beverage and other services furnished to guests of Tenant at the Facility without charge or at a reduced charge (and, with respect to a reduced charge, such reduction in Net Revenue shall be equal to the amount
of the reduction of such charge otherwise included in Net Revenue) (the amounts described in this clause (iii), “Promotional Allowances”). Notwithstanding anything herein to the contrary, the following provisions shall apply with
respect to the calculation of Net Revenue: 
 (a) For purposes of calculating adjustments to Variable Rent, the following provisions shall
apply: 
 (1) Intentionally omitted. 

(2) In the event of expiration, cancellation or termination of any Ground Lease for any reason whatsoever whether voluntary or involuntary
(by operation of law or otherwise) prior to the expiration date of this Lease, including extensions and renewals granted thereunder, then, thereafter, the Net Revenue attributable to the portion of the Leased Property subject to such Ground Lease
shall not be included in the calculation of Net Revenue for the applicable base year, provided, that if Landlord (or any Fee Mortgagee) enters into a replacement lease with respect to substantially the same Ground Leased Property, then the Net
Revenue attributable to such expired, cancelled or terminated Ground Lease shall once again be included in the calculation of Net Revenue for the applicable base year. 

(3) If Tenant enters into a Sublease with a Subtenant that is not wholly-owned by Guarantor (such that, after entering into such Sublease
rather than the Gaming Revenues, Retail Sales and Promotional Allowances generated by the space covered by such Sublease being included in the calculation of Tenant’s Net Revenue, instead the revenue from such Sublease would be governed by
clause (b)(1) or (b)(2) below), then, thereafter, any Gaming 

  
 27 

 
Revenues, Retail Sales and Promotional Allowances that would otherwise be included in the calculation of Net Revenue for the applicable base year with respect to the applicable subleased (or
managed) space shall be excluded from the calculation of Net Revenue for the applicable base year, and the rent and/or fees and other consideration to be received by Tenant pursuant to such Sublease shall be substituted therefor. 

(4) If Tenant assumes operation of space that in the applicable base year was operated under a Sublease with a Subtenant that was not
wholly-owned by Guarantor, or if all of the direct or indirect ownership interests in a Person that was a Subtenant in the applicable base year are acquired by Guarantor (in either case, such that after entering into such Sublease revenue that would
otherwise be included in Net Revenue for the applicable base year pursuant to clause (b)(1) or (b)(2) below is converted to revenue with respect to which Gaming Revenues, Retail Sales and Promotional Allowances are included in Net Revenue for the
applicable base year), then, thereafter, the rent and/or fees and other consideration received by Tenant pursuant to such Sublease that would otherwise be included in the calculation of Net Revenue for the applicable base year shall be excluded from
the calculation of Net Revenue for the applicable base year, and the Gaming Revenues, Retail Sales and Promotional Allowances to be received by Tenant pursuant to its operation of such space shall be substituted therefor. 

(5) Notwithstanding the foregoing, the adjustments provided for in clauses (a)(3) and (a)(4) above shall not be implemented in the
calculation of Net Revenue with respect to any transaction involving any space for which aggregate Gaming Revenues, Retail Sales and Promotional Allowances do not exceed Ten Million and No/100 Dollars ($10,000,000.00) in each transaction and Fifteen
Million and No/100 Dollars ($15,000,000.00) in the aggregate per Lease Year. 
 (b) Amounts received pursuant to Subleases shall be included
in Net Revenue as follows: 
 (1) With respect to any Sublease from Tenant to a Subtenant in which Guarantor directly or indirectly owns
less than fifty percent (50%) of the ownership interests, Net Revenue shall not include Gaming Revenues, Retail Sales or Promotional Allowances received by such Subtenant but shall include the rent and/or fees and all other consideration received by
Tenant pursuant to such Sublease. 
 (2) With respect to any Sublease from Tenant to a Subtenant in which Guarantor directly or indirectly
owns fifty percent (50%) or more of the ownership interests, but less than all of the ownership interests, Net Revenue shall not include Gaming Revenues, Retail Sales or Promotional Allowances received by such Subtenant but shall include an amount
equal to the greater of (x) the rent and/or fees and all other consideration actually received by Tenant for such Sublease from such Affiliate and (y) the rent and/or fees and other consideration that would be payable under such Sublease
if at arms-length, market rates. 
 (3) With respect to any Sublease from Tenant to a Subtenant that is directly or indirectly wholly-owned
by Guarantor, Net Revenue shall not include the rent and/or fees or any other consideration received by Tenant pursuant to such Sublease but shall include Gaming Revenues, Retail Sales or Promotional Allowances received by such Subtenant. 

  
 28 

 (c) For the avoidance of doubt, gaming taxes and casino operating expenses (such as salaries,
income taxes, employment taxes, supplies, equipment, cost of goods and inventory, rent, office overhead, marketing and advertising and other general administrative costs) will not be deducted in arriving at Net Revenue. 

(d) Net Revenue will be calculated on an accrual basis for purposes of this definition, as required under GAAP. 

“New Lease”: As defined in Section 17.1(f). 

“Non-Consented Lease Termination”: As defined in the MLSA. 

“Non-Core Tenant Competitor”: A Person that is engaged or is an Affiliate of a Person
that is engaged in the ownership or operation of a Gaming business so long as (i) such Person’s consolidated annual gross gaming revenues do not exceed Five Hundred Million and No/100 Dollars ($500,000,000.00) (which amount shall be
increased by the Escalator on the first (1st) day of each Lease Year, commencing with the second (2nd) Lease Year) and (ii) such Person does not, directly or indirectly, own or operate a Gaming Facility within thirty (30) miles of a Gaming
Facility directly or indirectly owned or operated by CEC. For purposes of the foregoing, ownership of the real estate and improvements where a Gaming business is conducted, without ownership of the Gaming business itself, shall not be deemed to
constitute the ownership of a Gaming business. 
 “Non-CPLV Capital Expenditures”:
The “Capital Expenditures” as defined in the Non-CPLV Lease, collectively or individually, as the context may require. 

“Non-CPLV Facility” or “Non-CPLV
Facilities”: A “Facility” or the “Facilities”, as applicable, as defined in the Non-CPLV Lease, collectively or individually, as the context may require. 

“Non-CPLV Lease”: As defined in the definition of Other Leases. 

“Non-CPLV Leased Property”: The “Leased Property” as defined in the Non-CPLV Lease, collectively or individually, as the context may require. 
 “Notice”: A
notice given in accordance with Article XXXV. 
 “Notice of Termination”: As defined in Section 17.1(f). 

“OFAC”: As defined in Article XXXIX. 

“Omnibus Agreement”: That certain Second Amended and Restated Omnibus Agreement and Enterprise Services Agreement, dated as
of the Commencement Date, by and among Caesars Enterprise Services, LLC, CEOC, Caesars Entertainment Resort Properties LLC, Caesars Growth Properties Holding, LLC, Caesars License Company, LLC, and Caesars World LLC, as further amended, restated,
supplemented or otherwise modified from time to time, subject to Section 20.16 of the MLSA. 

  
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 “Other Capital Expenditures”: The “Capital Expenditures” as defined in
each of the Other Leases, collectively or individually, as the context may require. 
 “Other Facility”: A
“Facility” as defined in each of the Other Leases, collectively or individually, as the context may require. 
 “Other
Intercreditor Agreement”: The “Intercreditor Agreement” as defined in each of the Other Leases, collectively or individually, as the context may require. 

“Other Material Capital Improvements”: The “Material Capital Improvements” as defined in each of the Other Leases,
collectively or individually, as the context may require. 
 “Other Leases”: Collectively or individually, as the context
may require, (i) that certain Lease (Non-CPLV), dated as of the date hereof, by and between various Affiliates of Landlord, as “Landlord,” and various Affiliates of Tenant, as
“Tenant,” with respect to various other Gaming Facilities and other real property assets, as amended, restated or otherwise modified from time to time (the “Non-CPLV Lease”), and
(ii) that certain Lease (CPLV), dated as of the date hereof, by and between CPLV Property Owner LLC, as “Landlord,” and Desert Palace LLC and CEOC, LLC, as “Tenant,” with respect to the Gaming Facility known as Caesar’s
Palace, located in Las Vegas, Nevada, as amended, restated or otherwise modified from time to time (the “CPLV Lease”). 

“Other Leased Property”: The “Leased Property” as defined in each of the Other Leases, collectively or
individually, as the context may require. 
 “Other MLSAs”: Collectively or individually, as the context may require,
(i) that certain Management and Lease Support Agreement (CPLV), dated as of the date hereof, by and among Guarantor, Manager, Affiliates of Manager, Affiliates of Tenant and an Affiliate of Landlord, as amended, restated or otherwise modified
from time to time, and (ii) that certain Management and Lease Support Agreement (Non-CPLV) dated as of the date hereof, by and among Guarantor, Manager, Affiliates of Manager, Affiliates of Tenant and
Affiliates of Landlord, as amended, restated or otherwise modified from time to time. 
 “Other Tenants”: The
“Tenant” as defined in each of the Other Leases, collectively or individually, as the context may require. 
 “Other
Tenant Capital Improvements”: The “Tenant Capital Improvements” as defined in each of the Other Leases, collectively or individually, as the context may require. 

“Other Transition Services Agreement”: The “Transition Services Agreement” as defined in each of the Other Leases,
collectively or individually, as the context may require. 
 “Overdue Rate”: On any date, a rate equal to five (5)
percentage points above the Prime Rate, but in no event greater than the maximum rate then permitted under applicable law. 

“Parent Entity”: With respect to any Person, any corporation, association, limited partnership, limited liability company or
other entity which at the time of determination (a) owns or controls, directly or indirectly, more than fifty percent (50%) of the total voting power of 

  
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shares of capital stock (without regard to the occurrence of any contingency) entitled to vote in the election of directors, managers or trustees of such Person, (b) owns or controls,
directly or indirectly, more than fifty percent (50%) of the capital accounts, distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, of such Person, whether in the form of membership,
general, special or limited partnership interests or otherwise, or (c) is the controlling general partner or managing member of, or otherwise controls, such entity. 

“Partial Taking”: As defined in Section 15.1(b). 

“Party” and “Parties”: Landlord and/or Tenant, as the context requires. 

“Patriot Act Offense”: Any violation of the criminal laws of the United States of America or of any of the several states, or
that would be a criminal violation if committed within the jurisdiction of the United States of America or any of the several states, relating to terrorism or the laundering of monetary instruments, including any offense under (A) the criminal
laws against terrorism, (B) the criminal laws against money laundering, (C) the Bank Secrecy Act, as amended, (D) the Money Laundering Control Act of 1986, as amended, or (E) the USA Patriot Act. “Patriot Act Offense”
also includes the crimes of conspiracy to commit, or aiding and abetting another to commit, a Patriot Act Offense. 
 “Payment
Date”: Any due date for the payment of the installments of Rent or Additional Charges payable under this Lease. 

“Permitted Exception Documents”: (i) Property Documents (x) that are listed on Exhibit I attached hereto, or
(y) that (a) Landlord entered into, as a party thereto, after the date hereof and (b) Tenant is required hereunder to comply with, and (ii) Specified Subleases (together with any renewals or modifications thereof made in accordance
with the express terms thereof), but excluding Specified Subleases as to which the applicable Subtenant is CEOC, CEC, Manager or any of their respective Affiliates. For avoidance of doubt, the Permitted Exception Documents do not include any Ground
Leases. 
 “Permitted Leasehold Mortgage”: Any mortgage, pledge agreement, security agreement, assignment of leases and
rents, fixture filing or similar document creating or evidencing a lien on Tenant’s leasehold interest (or subleasehold interest) in the Leased Property subject to exclusions with respect to items that are not capable of being mortgaged and
that, in the aggregate, are de minimis (or a lien on at least eighty percent (80%) of the direct or indirect Equity Interests in Tenant at any tier of ownership), granted to or for the benefit of a Permitted Leasehold Mortgagee as security for the
indebtedness of Tenant or its Affiliates. 
 “Permitted Leasehold Mortgagee”: The lender or noteholder or any agent or
trustee or similar representative on behalf of one or more lenders or noteholders or other investors in connection with indebtedness secured by a Permitted Leasehold Mortgage, in each case as and to the extent such Person has the power to act
(subject to obtaining the requisite instructions) on behalf of all lenders, noteholders or investors with respect to such Permitted Leasehold Mortgage; provided such lender or noteholder or any agent or trustee or similar representative (but
not necessarily the lenders, noteholders or other investors which it represents) 

  
 31 

 
is a banking or other institution that in the ordinary course acts as a lender, agent or trustee or similar representative (in each case, on behalf of a group of lenders or noteholders) in
respect of financings of similar size as the Tenant’s Initial Financing; and provided, further, that, in all events, (i) no agent, trustee or similar representative shall be Tenant, CEOC, CEC, Guarantor or Manager or any of
their Affiliates, respectively (each, a “Prohibited Leasehold Agent”), and (ii) no (A) Prohibited Leasehold Agent, (excluding any Person that is a Prohibited Leasehold Agent as a result of its ownership of publicly-traded
shares in any Person), or (B) entity that owns, directly or indirectly (but excluding any ownership of publicly-traded shares in CEC or any of its Affiliates), higher than the lesser of (1) ten percent (10%) of the Equity Interests in
Tenant or (2) a Controlling legal or beneficial interest in Tenant, may collectively hold an amount of the indebtedness secured by a Permitted Leasehold Mortgage higher than the lesser of (x) twenty-five percent (25%) thereof and
(y) the principal amount thereof required to satisfy the threshold for requisite consenting lenders to amend the terms of such indebtedness that affect all lenders thereunder. 

“Permitted Leasehold Mortgagee Designee”: An entity (other than a Prohibited Leasehold Agent) designated by a Permitted
Leasehold Mortgagee and acting for the benefit of the Permitted Leasehold Mortgagee, or the lenders, noteholders or investors represented by the Permitted Leasehold Mortgagee. 

“Person”: Any individual, corporation, limited liability company, partnership, joint venture, association, joint stock
company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other form of entity. 

“Preceding Lease Year”: As defined in clause (c)(i) of the definition of “Rent.” 

“Preliminary Studies”: As defined in Section 10.4(a). 

“Primary Intended Use”: (i) Hotel and resort and related uses, (ii) gaming and/or pari-mutuel use, including, without
limitation, horsetrack, dogtrack and other similarly gaming-related sporting uses, (iii) ancillary retail and/or entertainment use, (iv) such other uses required under any Legal Requirements (including those mandated by any applicable
regulators), (v) such other ancillary uses, but in all events consistent with the current use of the Leased Property or any portion thereof as of the Commencement Date or with then-prevailing hotel, resort and gaming industry use, and/or
(vii) such other use as shall be approved by Landlord from time to time in its reasonable discretion. 
 “Prime Rate”:
On any date, a rate equal to the annual rate on such date publicly announced by JPMorgan Chase Bank, N.A. (provided that if JPMorgan Chase Bank, N.A. ceases to publish such rate, the Prime Rate shall be determined according to the comparable prime
rate of another comparable nationally known money center bank reasonably selected by Landlord), to be its prime rate for ninety (90)-day unsecured loans to its corporate borrowers of the highest credit
standing, but in no event greater than the maximum rate then permitted under applicable law. 
 “Prior Months”: As defined
in the definition of CPI Increase. 

  
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 “Prohibited Leasehold Agent”: As defined in the definition of Permitted
Leasehold Mortgagee. 
 “Prohibited Persons”: As defined in Article XXXIX. 

“Promotional Allowances”: As defined in the definition of “Net Revenue.” 

“PropCo”: VICI Properties L.P., a Delaware limited partnership. 

“PropCo 1”: VICI Properties 1 LLC, a Delaware limited liability company. 

“Propco Opportunity Transaction”: As defined in the ROFR Agreement. 

“Propco ROFR”: As defined in the ROFR Agreement. 

“Propco TRS”: As defined in Section 1.1. 

“Property Documents”: Reciprocal easement and/or operating agreements, easements, covenants, exceptions, conditions and
restrictions in each case affecting the Leased Property or any portion thereof, but excluding, in any event, all Fee Mortgage Documents. 

“Property Specific Guest Data”: Any and all Guest Data, to the extent in or under the possession or control of Tenant,
Services Co, Manager, or their respective Affiliates, identifying, describing, concerning or generated by prospective, actual or past guests, website visitors and/or customers of the Facility, including retail locations, restaurants, bars, casino
and Gaming Facilities, spas and entertainment venues therein, but excluding, in all cases, (i) Guest Data that has been integrated into analytics, reports, or other similar forms in connection with the Total Rewards Program or any other
customer loyalty program of Services Co and its Affiliates (it being understood that this exception shall not apply to such Guest Data itself, i.e., in its original form prior to integration into such analytics, reports, or other similar forms in
connection with the Total Rewards Program or other customer loyalty program), (ii) Guest Data that concerns facilities that are owned or operated by CEC or its Affiliates, other than the Facility and that does not concern the Facility, and
(iii) Guest Data that concerns Proprietary Information and Systems (as defined in the MLSA) and is not specific to the Facility. 

“Property Specific IP”: All Intellectual Property that is both (i) specific to the Facility and (ii) currently or
hereafter owned by CEOC or any of its Subsidiaries, including the Intellectual Property set forth on Exhibit H, attached hereto. 

“Qualified Replacement Guarantor”: The Qualified Replacement Guarantor (as defined in the
Non-CPLV Lease) that is serving in such capacity under the Non-CPLV Lease. 

“Qualified Replacement Manager”: The Qualified Replacement Manager (as defined in the
Non-CPLV Lease) that is serving in such capacity under the Non-CPLV Lease. 

“Qualified Transferee”: The Qualified Transferee (as defined in the Non-CPLV Lease)
that is serving in such capacity under the Non-CPLV Lease. 

  
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 “Refinancing”: As defined in Section 13.10(a). 

“Rejected ROFR Property”: Any ROFR Property located outside of Las Vegas, Nevada, that was the subject of a Propco
Opportunity Transaction pursuant to the ROFR Agreement and with respect to which (a) either (i) Propco waived (or was deemed to have waived) the Propco ROFR, or (ii) Propco exercised the Propco ROFR but a ROFR Lease with respect to such
ROFR Property was not executed following the conclusion of the procedures set forth in Section 3(e) of the ROFR Agreement, and (b) an Affiliate of CEC subsequently consummated the Propco Opportunity Transaction without Propco’s (or its
Affiliates’) involvement. 
 “Renewal Notice”: As defined in Section 1.4. 

“Renewal Term”: As defined in Section 1.4. 

“Renewal Term Decrease”: As defined in clause (c)(ii)(B) of the definition of “Rent.” 

“Renewal Term Increase”: As defined in clause (c)(ii)(A) of the definition of “Rent.” 

“Rent”: An annual amount payable as provided in Article III, calculated as follows: 

(a) For the first seven (7) Lease Years, Rent shall be equal to Thirty Nine Million Six Hundred Twenty-Five Thousand and
No/100 Dollars ($39,625,000.00) per Lease Year, as adjusted annually as set forth in the following sentence. On each Escalator Adjustment Date during the sixth (6th) through and including the
seventh (7th) Lease Years, the Rent payable for such Lease Year shall be adjusted to be equal to the Rent payable for the immediately preceding Lease Year, multiplied by the Escalator. For
purposes of clarification, there shall be no Variable Rent (defined below) payable during the first seven (7) Lease Years. 

(b) From and after the commencement of the eighth (8th) Lease Year, until the Initial Stated Expiration Date, annual Rent shall
be comprised of both a base rent component (“Base Rent”) and a variable rent component (“Variable Rent”), each such component of Rent calculated as provided below: 

(i) Base Rent shall equal (w) for the eighth (8th) Lease Year, the product of seventy percent (70%) of Rent in effect as
of the last day of the seventh (7th) Lease Year, multiplied by the Escalator, (x) for the ninth (9th) and tenth (10th) Lease Years, the Base Rent payable for the immediately preceding Lease Year, as applicable, multiplied by the Escalator in
each case, (y) for the eleventh (11th) Lease Year, the product of eighty percent (80%) of Rent in effect as of the last day of the tenth (10th) Lease Year, multiplied by the Escalator, and (z) for each Lease Year from and after the
commencement of the twelfth (12th) Lease Year until the Initial Stated Expiration Date, the Base Rent payable for the immediately preceding Lease Year, as applicable, multiplied by the Escalator in each case. 

  
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 (ii) Variable Rent shall be calculated as further described in this clause
(b)(ii). Throughout the Term, Variable Rent shall not be subject to the Escalator. 
 (A) For each Lease Year from and after
commencement of the eighth (8th) Lease Year through and including the end of the tenth (10th) Lease Year (the “First Variable Rent Period”), Variable Rent shall be a fixed annual amount equal to thirty percent (30%) of the
Rent for the seventh (7th) Lease Year (such amount, the “Variable Rent Base”), adjusted as follows (such resulting annual amount being referred to herein as “Year 8-10 Variable
Rent”): 
 (x) in the event that the annual Net Revenue for the Fiscal Period ending immediately prior to the end of the seventh
(7th) Lease Year (the “First VRP Net Revenue Amount”) exceeds the Base Net Revenue Amount (any such excess, the “Year 8 Increase”), the Year 8-10 Variable Rent shall equal the
Variable Rent Base increased by an amount equal to the product of (a) nineteen and one-half percent (19.5%) and (b) the Year 8 Increase; or 

(y) in the event that the First VRP Net Revenue Amount is less than the Base Net Revenue Amount (any such difference, the “Year 8
Decrease”), the Year 8-10 Variable Rent shall equal the Variable Rent Base decreased by an amount equal to the product of (a) nineteen and one-half percent
(19.5%) and (b) the Year 8 Decrease. 
 (B) For each Lease Year from and after the commencement of the eleventh (11th)
Lease Year until the Initial Stated Expiration Date (the “Second Variable Rent Period”), Variable Rent shall be equal to a fixed annual amount equal to twenty percent (20%) of the Rent for the tenth (10th) Lease Year (such
amount, the “Second Variable Rent Base”), adjusted as follows (such resulting annual amount being referred to herein as the “Year 11-15 Variable Rent”): 

(x) in the event that the annual Net Revenue for the Fiscal Period ending immediately prior to the end of the tenth (10th) Lease Year
exceeds the First VRP Net Revenue Amount (any such excess, the “Year 11 Increase”), the Year 11-15 Variable Rent shall equal the Year 8-10 Variable Rent
increased by an amount equal to the product of (a) thirteen percent (13%) and (b) the Year 11 Increase; or 
 (y) in the event
that the annual Net Revenue for the Fiscal Period ending immediately prior to the end of the tenth (10th) Lease Year 

  
 35 

 
is less than the First VRP Net Revenue Amount (any such difference, the “Year 11 Decrease”), the Year 11-15 Variable Rent shall equal the
Year 8-10 Variable Rent decreased by an amount equal to the product of (a) thirteen percent (13%) and (b) the Year 11 Decrease. 

(c) Rent for each Renewal Term shall be calculated as follows: 

(i) Subject to clause (c)(iii) below, Base Rent for the first (1st) Lease Year of such Renewal Term shall be adjusted to be
equal to the applicable annual Fair Market Base Rental Value; provided that (A) in no event will the Base Rent be less than the Base Rent in effect as of the last day of the Lease Year immediately preceding the commencement of such Renewal Term
(such immediately preceding year, the respective “Preceding Lease Year”), (B) no such adjustment shall cause Base Rent to be increased by more than ten percent (10%) of the Base Rent in effect as of the last day of the Preceding
Lease Year and (C) such Fair Market Base Rental Value shall be determined as provided in Section 34.1. On each Escalator Adjustment Date during such Renewal Term, the Base Rent payable for such Lease Year shall be equal to the Base
Rent payable for the immediately preceding Lease Year, multiplied by the Escalator. 
 (ii) Subject to clause (c)(iii) below,
Variable Rent for each Lease Year during such Renewal Term (for each Renewal Term, the “Renewal Term Variable Rent Period”) shall be equal to the Variable Rent in effect as of the last day of the Preceding Lease Year, adjusted as
follows: 
 (A) in the event that the annual Net Revenue for the Fiscal Period ending immediately prior to the end of the
Preceding Lease Year exceeds the annual Net Revenue for the Fiscal Period ending immediately prior to the Lease Year five (5) years prior to the Preceding Lease Year (i.e., (x) in respect of the first (1st) Renewal Term, the tenth (10th)
Lease Year, and (y) in respect of each subsequent Renewal Term, the Lease Year immediately preceding the first (1st) Lease Year of the immediately preceding Renewal Term) (any such excess, the respective “Renewal Term
Increase”), the Variable Rent for such Renewal Term shall equal the Variable Rent in effect as of the last day of the Preceding Lease Year increased by an amount equal to the product of (a) thirteen percent (13%) and (b) such
Renewal Term Increase; or 
 (B) in the event that the annual Net Revenue for the Fiscal Period ending immediately
prior to the end of the Preceding Lease Year is less than the annual Net Revenue for the Fiscal Period ending immediately prior to the Lease Year five (5) years prior to the Preceding Lease Year (i.e., (x) in respect of the first (1st)
Renewal Term, the tenth (10th) Lease Year and (y) in respect of each subsequent Renewal Term, the Lease Year immediately preceding the first (1st) Lease Year of the immediately preceding Renewal Term) (any such difference, the respective
“Renewal 

  
 36 

 
Term Decrease”), the Variable Rent for such Renewal Term shall equal the Variable Rent in effect as of the last day of the Preceding Lease Year decreased by an amount equal to the
product of (a) thirteen percent (13%) and (b) such Renewal Term Decrease. 
 (iii) Intentionally Omitted. 

(iv) Prior to delivery of any Renewal Notice for any Renewal Term that would cause the Term through such Renewal Term to exceed
the Maximum Fixed Rent Term for the Leased Property, if Tenant obtains an appraisal reasonably satisfactory to Landlord, prepared by an appraiser reasonably satisfactory to Landlord, which appraisal concludes that, based on the condition of the
Leased Property at the time of such appraisal, the expected useful life of the Leased Property (measured from the Commencement Date) exceeds one hundred twenty-five percent (125%) of the Term through such Renewal Term, the Maximum Fixed Rent Term
for the Leased Property shall be extended through the end of such Renewal Term and thereafter for the longest fixed rent term that would be supported by such appraisal. 

Notwithstanding anything herein to the contrary, from and after the date on which any ROFR Property becomes a Rejected ROFR Property, solely for purposes of
calculating Variable Rent in accordance herewith, if the Facility is an Affected Facility, then the Net Revenue associated with the Facility thereafter shall be subject to a floor equal to the Net Revenue for the Facility for the calendar year
immediately prior to the later of (i) the year in which CEC or its Affiliate acquires or commences operating the Rejected ROFR Property and (ii) the year in which the Rejected ROFR Property first opens for business to the public. 

Notwithstanding anything herein to the contrary, (i) but subject to clause (c)(iii) above and any reduction in Rent by the Rent Reduction Amount pursuant
to and in accordance with the terms of this Lease, in no event shall annual Base Rent during any Lease Year after the seventh (7th) Lease Year be less than seventy percent (70%) of the Rent in the seventh (7th) Lease Year, and (ii) in no event
shall the Variable Rent be less than Zero Dollars ($0.00). 
 “Rent Reduction Amount”: (i) With respect to the Base Rent, a
proportionate reduction of Base Rent, which proportionate amount shall be determined by comparing (1) the EBITDAR of the Leased Property for the Trailing Test Period versus (2) the EBITDAR of the Leased Property for the Trailing Test
Period calculated to remove the EBITDAR attributable to the portion of the Leased Property affected by the Partial Taking or that is being removed from this Lease or otherwise excluded from the determination of Rent (as applicable) and
(ii) with respect to Variable Rent, a proportionate reduction of Variable Rent calculated in the same manner as set forth with respect to Base Rent above. Following the application of the Rent Reduction Amount to the Rent hereunder, for
purposes of calculating any applicable adjustments to Variable Rent based on increases or decreases in Net Revenue, such calculations of Net Revenue shall exclude Net Revenue attributable to the portion of the Leased Property affected by the Partial
Taking or that was removed from this Lease or otherwise excluded from the determination of Rent (even if such portion of the Leased Property had not yet been affected by the Partial Taking nor removed from this Lease as of the applicable Lease Year
for which Net Revenue is being measured). 

  
 37 

 “Replacement Guaranty”: A guaranty made by a Qualified Replacement Guarantor
which shall contain provisions, terms and conditions similar in substance to the provisions, terms and conditions set forth in Article 17 of the MLSA and all such other portions of the MLSA that comprise the Lease Guaranty (as such term is defined
in the MLSA). 
 “Replacement Management Agreement”: A management agreement with respect to the management of the Facility,
between a Qualified Replacement Manager and a Qualified Transferee, that provides for the management of the Leased Property on terms and conditions not materially less favorable to Tenant (and the Leased Property), (i) with respect to a Qualified
Replacement Manager that is an Affiliate of the Qualified Transferee, than as provided in the MLSA, or, (ii) with respect to a Qualified Replacement Manager that is not an Affiliate of the Qualified Transferee, than would be obtained in an arm’s-length management agreement with a third party, and, in all events the provisions, terms and conditions thereof shall not be intended to or designed to frustrate, vitiate or reduce the payment of Variable
Rent or the other provisions of this Lease. 
 “Reporting Subsidiary”: Any entity required by GAAP to be consolidated for
financial reporting purposes by a Person, regardless of ownership percentage. 
 “Representatives”: With respect to any
Person, such Person’s officers, employees, directors, accountants, attorneys and other consultants, experts or agents of such Person, and actual or prospective arrangers, underwriters, investors or lenders with respect to indebtedness or Equity
Interests that may be issued by such Person, to the extent that any of the foregoing actually receives non-public information hereunder. In addition, and without limitation of the foregoing, the term
“Representatives” shall include, (a) in the case of Landlord, PropCo 1, PropCo, Landlord REIT and any Affiliate thereof, and (b) in the case of Tenant, CEOC, CEC and any Affiliate thereof. 

“Required Capital Expenditures”: The applicable Capital Expenditures required to satisfy the Minimum Cap Ex Requirements.

 “Restricted Area”: The geographical area that at any time during the Term is within a thirty (30) mile radius of
the Leased Property. 
 “Retail Sales”: As defined in the definition of “Net Revenue.” 

“Right to Terminate Notice”: As defined in Section 17.1(d). 

“ROFR Agreement”: That certain Right of First Refusal Agreement, dated as of the date hereof, by and between CEC and Propco.

 “ROFR Lease”: As defined in the ROFR Agreement. 

“ROFR Property”: As defined in the ROFR Agreement. 

  
 38 

 “SEC”: The United States Securities and Exchange Commission. 

“Second Variable Rent Base”: As defined in clause (b)(ii)(B) of the definition of “Rent.” 

“Second Variable Rent Period”: As defined in clause (b)(ii)(B) of the definition of “Rent.” 

“Section 34.2 Dispute”: As defined in Section 34.2. 

“Securities Act”: The Securities Act of 1933, as amended, or any successor statute, and the rules and regulations promulgated
thereunder. 
 “Services Co”: Caesars Enterprise Services LLC, or any replacement or successor services company engaged in
performing services on behalf of Tenant and related entities similar to those performed by, or contemplated to be performed by, Caesars Enterprise Services LLC on the date hereof. 

“Services Co Capital Expenditures”: All capital expenditures incurred by Services Co to the extent capitalized in accordance
with GAAP and allocated to Tenant by Services Co. Without Landlord’s consent, Tenant shall not permit any changes to be made to the allocation methodology by which Services Co Capital Expenditures are currently allocated to Tenant if such
change could reasonably be expected to materially and adversely affect Landlord. 
 “Severance Lease”: As defined in the
Other Leases (as applicable). 
 “Software”: As they exist anywhere in the world, any computer software, firmware,
microcode, operating system, embedded application, or other program, including all source code, object code, specifications, databases, designs and documentation related to such programs. 

“Specified Sublease”: Any Sublease (i) affecting any portion of the Leased Property, and (ii) in effect on the
Commencement Date. A list of all Specified Subleases is annexed as Schedule 4 hereto. 
 “Stated Expiration Date”:
As defined in Section 1.3. 
 “Stub Period”: As defined in Section 10.5(a)(v). 

“Stub Period Multiplier”: As defined in Section 10.5(a)(v). 

“Sublease”: Any sublease, sub-sublease, license, management agreement to operate (but
not occupy as a tenant) a particular space at the Facility, or other similar agreement in respect of use or occupancy of any portion of the Leased Property, but excluding Bookings. 

“Subsidiary”: As to any Person, (i) any corporation more than fifty percent (50%) of whose stock of any class or classes
having by the terms thereof ordinary voting power to elect a majority of the directors of such corporation (irrespective of whether or not at the time stock of 

  
 39 

 
any class or classes of such corporation shall have or might have voting power by reason of the happening of any contingency) is at the time of determination owned by such Person and/or one or
more Subsidiaries of such Person, and (ii) any partnership, limited liability company, association, joint venture or other entity in which such Person and/or one or more Subsidiaries of such Person has more than a fifty percent (50%) Equity
Interest at the time of determination. 
 “Subtenant”: The tenant under any Sublease. 

“Subtenant Subsidiary”: Any subsidiary of Tenant that is a Subtenant under a Sublease from Tenant. 

“Successor Assets”: As defined in Section 36.1. 

“Successor Assets FMV”: As defined in Section 36.1. 

“Successor Tenant”: As defined in Section 36.1. 

“System-wide IP”: All of the Intellectual Property (in each case, excluding Property Specific IP and Property Specific Guest
Data) that (i) Services Co or any of its Subsidiaries currently license, contemplate to license or otherwise provide to facilitate the provision of services by or on behalf of Services Co or any of its Subsidiaries to any properties owned by
CEOC or its Affiliates, (ii) Services Co or any of its Subsidiaries currently provide or contemplate to provide pursuant to, or is otherwise necessary for the performance of, any Property Management Agreement (as defined in the Omnibus
Agreement), (iii) is necessary for the provision of Enterprise Services (as defined in the Omnibus Agreement) by Services Co, (iv) is generally used by CEOC, its Affiliates and their respective Subsidiaries for their respective properties,
including any and all Intellectual Property comprising and/or related to the Total Rewards Program, or (v) is developed, created or acquired by or on behalf of Services Co or any of its Subsidiaries and is not a derivative work of any
Intellectual Property licensed to Services Co. 
 “Taking”: Any taking of all or any part of the Leased Property and/or the
Leasehold Estate or any part thereof, in or by Condemnation, including by reason of the temporary requisition of the use or occupancy of all or any part of the Leased Property by any governmental authority, civil or military. 

“Tenant”: As defined in the preamble. 

“Tenant Capital Improvement”: A Capital Improvement other than a Material Capital Improvement funded by Landlord pursuant to
a Landlord MCI Financing. The term “Tenant Capital Improvement” shall not include Capital Improvements conveyed by Tenant to Landlord. 

“Tenant Competitor”: As of any date of determination, any Person (other than Tenant and its Affiliates) that is engaged, or
is an Affiliate of a Person that is engaged, in the ownership or operation of a Gaming business; provided, that, (i) for purposes of the foregoing, ownership of the real estate and improvements where a Gaming business is conducted, without
ownership of the Gaming business itself, shall not be deemed to constitute the ownership of a 

  
 40 

 
Gaming business, (ii) any investment fund or other Person with an investment representing an equity ownership of fifteen percent (15%) or less in a Tenant Competitor and no Control over such
Tenant Competitor shall not be a Tenant Competitor, (iii) solely for purposes of Section 18.4(c), a Person with an investment representing an equity ownership of twenty-five percent (25%) or less in a
Non-Core Tenant Competitor shall be deemed to not have Control over such Tenant Competitor, and (iv) Landlord shall not be deemed to become a Tenant Competitor by virtue of it or its Affiliate’s
acquiring ownership, or engaging in the ownership or operation of, a Gaming business, if Landlord or any of its Affiliates first offered CEC (or its Subsidiary, as applicable) the opportunity to lease and manage such Gaming business pursuant to the
ROFR Agreement and CEC (or its Subsidiary, as applicable) did not accept such offer. 
 “Tenant Event of Default”: As
defined in Section 16.1. 
 “Tenant Material Capital Improvement”: As defined in Section
10.4(e). 
 “Tenant Transferee Requirement”: As defined in Section 22.2(i). 

“Tenant’s Initial Financing”: As defined in the Other Leases. 

“Tenant’s MCI Intent Notice”: As defined in Section 10.4(a). 

“Tenant’s Pledged Property”: All now owned and hereafter acquired FF&E not otherwise part of the Leased Property and
all other now owned and hereafter acquired personal property (including all gaming equipment), licenses, permits, subleases, concessions, and contracts, in each case, located at the Leased Property or primarily related to or used or held for use in
connection with the operation of the business conducted on or about the Leased Property as then being operated (including all Property Specific IP and Property Specific Guest Data and Tenant’s rights under System-wide IP, proprietary operating
systems and customer data, including Guest Data) owned by or licensed or granted to Tenant and/or any Subsidiaries of Tenant, and any cash (including all cage cash) located on-site at the Facility but not any
other cash, securities or investments; provided, that, Tenant’s Pledged Property shall exclude all Excluded Assets, all products and proceeds of Tenant’s Pledged Property, and, to the extent required by Gaming Regulations, any Gaming
Licenses. 
 “Tenant’s Property”: All assets of Tenant and its Subsidiaries (other than the Leased Property and, for
purposes of Article XXXVI only, any Intellectual Property that will not be transferred to a Successor Tenant under Article XXXVI) primarily related to or used in connection with the operation of the business conducted on or about the
Leased Property or any portion thereof, together with all replacements, modifications, additions, alterations and substitutes therefor and including all goodwill and going concern value associated with Tenant’s Property. 

“Term”: As defined in Section 1.3. 

“Third-Party MCI Financing”: As defined in Section 10.4(c). 

“Trademarks”: As defined in the definition of Intellectual Property. 

  
 41 

 “Trailing Test Period”: For any date of determination, the period of the four
(4) most recently ended consecutive calendar quarters prior to such date of determination for which Financial Statements are available. 

“Transition Period”: As defined in the MLSA. 

“Transition Services Agreement”: That certain Transition of Management Services Agreement (Joliet), dated as of the date
hereof, as amended, restated, supplemented or otherwise modified from time to time. 
 “Triennial Allocated Minimum Cap Ex Amount B
Ceiling”: The difference of (a) the Triennial Minimum Cap Ex Amount B, minus (b) the Triennial Allocated Minimum Cap Ex Amount B Floor (as defined in the CPLV Lease). Notwithstanding anything herein to the contrary, fifty percent
(50%) of all Capital Expenditures constituting Material Capital Improvements shall be credited toward the Triennial Allocated Minimum Cap Ex Amount B Ceiling applicable to the Triennial Period during which such Capital Expenditures were incurred and
the other fifty percent (50%) of such Capital Expenditures constituting Material Capital Improvements shall not be credited toward the Triennial Allocated Minimum Cap Ex Amount B Ceiling. 

“Triennial Allocated Minimum Cap Ex Amount B Floor”: An amount equal to Two Hundred Fifty-Five Million and No/100 Dollars
($255,000,000.00), as reduced from time to time by the applicable Minimum Cap Ex Reduction Amount in the event that the Triennial Minimum Cap Ex Amount B is reduced by the applicable Minimum Cap Ex Reduction Amount. Notwithstanding anything
herein to the contrary, fifty percent (50%) of all Capital Expenditures constituting Material Capital Improvements shall be credited toward the Triennial Allocated Minimum Cap Ex Amount B Floor applicable to the Triennial Period during which such
Capital Expenditures were incurred and the other fifty percent (50%) of such Capital Expenditures constituting Material Capital Improvements shall not be credited toward the Triennial Allocated Minimum Cap Ex Amount B Floor. 

“Triennial Minimum Cap Ex Amount A”: An amount equal to Four Hundred Ninety-Five Million and No/100 Dollars
($495,000,000.00), provided, however, that for purposes of calculating the Triennial Minimum Cap Ex Amount A, Capital Expenditures during the applicable Triennial Period shall not include (a) Services Co Capital Expenditures in excess of
Seventy-Five Million and No/100 Dollars ($75,000,000.00) nor (b) Capital Expenditures in respect of the London/Chester Properties in excess of Thirty Million and No/100 Dollars ($30,000,000.00). The Triennial Minimum Cap Ex Amount A shall be
decreased from time to time (w) upon any transfer or other conveyance of the Leased Property to an Acquirer that is not an Affiliate of Landlord in accordance with Section 18.1 hereof; (x) in the event of any
partial termination of either this Lease or the Other Leases in connection with any Condemnation or in connection with a Casualty Event, or pursuant to the expiration of the Maximum Fixed Rent Term, in either case in accordance with the express
terms of this Lease or the Other Leases (as applicable), in either case that results in the removal of Material Leased Property from this Lease or the Other Leases (as applicable); (y) in connection with either (i) to the extent applicable to
any Other Leases, any disposition of Other Leased Property by a landlord under the Other Leases in accordance with Article XVIII of the Other Leases and the execution of a Severance Lease 

  
 42 

 
with respect to such removed Other Leased Property, or (ii) any disposition of all of the Other Leased Property under any Other Lease in accordance with Article XVIII of such Other Lease and
the assignment of such Other Lease to a third party Acquirer (as defined in such Other Lease), and (z) with respect to the London/Chester Properties, upon the disposition of any Material London/Chester Property; with such decrease, in each case
of clause (w), (x), (y) or (z) above, being equal to the applicable Minimum Cap Ex Reduction Amount. Notwithstanding the foregoing: (1) the sum of all decreases in the Triennial Minimum Cap Ex Amount A under clause (z) in respect of
any dispositions of London Clubs property shall not exceed Twelve Million and No/100 Dollars ($12,000,000.00); (2) the sum of all decreases in the Triennial Minimum Cap Ex Amount A under clause (z) in respect of any dispositions of any portion
of the Chester Property shall not exceed Eighteen Million and No/100 Dollars ($18,000,000.00); (3) in the event of a disposition (in one or a series of transactions) of all or substantially all of the London Clubs, the Triennial Minimum Cap Ex
Amount A shall be decreased by an amount equal to Twelve Million and No/100 Dollars ($12,000,000.00); and (4) in the event of a disposition (in one or a series of transactions) of all or substantially all of the Chester Property, the Triennial
Minimum Cap Ex Amount A shall be decreased by an amount equal to Eighteen Million and No/100 Dollars ($18,000,000.00). Notwithstanding anything herein to the contrary, fifty percent (50%) of all Capital Expenditures and Other Capital Expenditures
constituting Material Capital Improvements or Other Material Capital Improvements shall be credited toward the Triennial Minimum Cap Ex Amount A applicable to the Triennial Period during which such Capital Expenditures or Other Capital Expenditures
were incurred and the other fifty percent (50%) of such Capital Expenditures and Other Capital Expenditures constituting Material Capital Improvements or Other Material Capital Improvements shall not be credited toward the Triennial Minimum Cap Ex
Amount A. 
 “Triennial Minimum Cap Ex Amount B”: An amount equal to Three Hundred Fifty Million and No/100 Dollars
($350,000,000.00), provided, however, that for purposes of calculating the Triennial Minimum Cap Ex Amount B, Capital Expenditures during the applicable Triennial Period shall not include any of the following (without duplication): (a) Services Co
Capital Expenditures, (b) Capital Expenditures by any subsidiaries of Tenant that are non-U.S. subsidiaries or are “unrestricted subsidiaries” as defined under Tenant’s debt documentation,
(c) any Capital Expenditures of Tenant related to gaming equipment, (d) any Capital Expenditures of Tenant related to corporate shared services, nor (e) any Capital Expenditures with respect to properties that are not included in the
Leased Property or Other Leased Property. The Triennial Minimum Cap Ex Amount B shall be decreased from time to time (w) upon any transfer or other conveyance of the Leased Property to an Acquirer that is not an Affiliate of Landlord in
accordance with Section 18.1 hereof; (x) in the event of any partial termination of either this Lease or the Other Leases in connection with any Condemnation or in connection with a Casualty Event, or pursuant to the
expiration of the Maximum Fixed Rent Term, in either case in accordance with the express terms of this Lease or the Other Leases (as applicable), in either case that results in the removal of Material Leased Property from this Lease or the Other
Leases (as applicable); and (y) in connection with either (i) to the extent applicable to any Other Leases, any disposition of Other Leased Property by a landlord under the Other Leases in accordance with Article XVIII of the Other Leases
and the execution of a third party Severance Lease with respect to such removed Other Leased Property, or (ii) any disposition of all of the Other Leased Property under any Other Lease in accordance with Article XVIII of such Other Lease and
the assignment of such Other Lease to a third party Acquirer (as defined in such 

  
 43 

 
Other Lease); with such decrease, in each case of clause (w), (x) or (y) above, being equal to the applicable Minimum Cap Ex Reduction Amount. Notwithstanding anything herein to the
contrary, fifty percent (50%) of all Capital Expenditures and Other Capital Expenditures constituting Material Capital Improvements or Other Material Capital Improvements shall be credited toward the Triennial Minimum Cap Ex Amount B applicable to
the Triennial Period during which such Capital Expenditures or Other Capital Expenditures were incurred and the other fifty percent (50%) of such Capital Expenditures and Other Capital Expenditures constituting Material Capital Improvements or Other
Material Capital Improvements shall not be credited toward the Triennial Minimum Cap Ex Amount B. Without limitation of anything set forth in the foregoing, it is acknowledged and agreed that any Capital Expenditures with respect to any one or more
of the London/Chester Properties shall not be included in the calculation of the Triennial Minimum Cap Ex Amount B. 
 “Triennial
Minimum Cap Ex Requirement A”: As defined in Section 10.5(a)(iii). 
 “Triennial Minimum Cap Ex Requirement
B”: A defined in Section 10.5(a)(iv). 
 “Triennial Period”: Each period of three (3) full Fiscal
Years during the Term. 
 “Unavoidable Delay”: Delays due to strikes, lockouts, inability to procure materials, power
failure, acts of God, governmental restrictions, enemy action, civil commotion, fire, unavoidable casualty or other causes beyond the reasonable control of the Party responsible for performing an obligation hereunder; provided, that lack of funds,
in and of itself, shall not be deemed a cause beyond the reasonable control of a Party. 
 “Unsuitable for Its Primary Intended
Use”: A state or condition of the Leased Property such that by reason of a Partial Taking the Leased Property cannot, following restoration thereof (to the extent commercially practical), be operated on a commercially practicable basis for
the Primary Intended Use for which it was primarily being used immediately preceding the taking, taking into account, among other relevant economic factors, the amount of square footage and the estimated revenue affected by such Partial Taking. 

“Variable Rent”: The Variable Rent component of Rent, as defined in more detail in clauses (b) and (c) of the
definition of “Rent.” 
 “Variable Rent Base”: As defined in clause (b)(ii)(A) of the definition of
“Rent.” 
 “Variable Rent Determination Period”: Each of (i) the Fiscal Period that ended immediately prior
to the Commencement Date, and (ii) the Fiscal Period in each case that ends immediately prior to the commencement of the 8th Lease Year, the
11th Lease Year, and the first (1st) Lease Year of each Renewal Term. 

“Variable Rent Payment Period”: Collectively or individually, each of the First Variable Rent Period, the Second Variable
Rent Period and each of the Renewal Term Variable Rent Periods. 
 “Variable Rent Statement”: As defined in
Section 3.2(a). 

  
 44 

 “Work”: Any and all work in the nature of construction, restoration, alteration,
modification, addition, improvement or demolition in connection with the performance of any Alterations and/or any Capital Improvements. 

“Year 8 Decrease”: As defined in clause (b)(ii)(A) of the definition of “Rent.” 

“Year 8 Increase”: As defined in clause (b)(ii)(A) of the definition of “Rent.” 

“Year 8-10 Variable Rent”: As defined in clause (b)(ii)(A) of the
definition of “Rent.” 
 “Year 11 Decrease”: As defined in clause (b)(ii)(B) of the definition of
“Rent.” 
 “Year 11 Increase”: As defined in clause (b)(ii)(B) of the definition of “Rent.” 

“Year 11-15 Variable Rent”: As defined in clause (b)(ii)(B) of the definition of
“Rent.” 
 ARTICLE III 

RENT 
 3.1
Payment of Rent. 
 (a) Generally. During the Term, Tenant will pay to Landlord the Rent and Additional Charges in lawful
money of the United States of America and legal tender for the payment of public and private debts, in the manner provided in Section 3.4. 

(b) Payment of Rent until Commencement of Variable Rent. On the Commencement Date, a prorated portion of the first monthly installment
of Rent shall be paid by Tenant for the period from the Commencement Date until the last day of the calendar month in which the Commencement Date occurs, based on the number of days during such period. Thereafter, for the first seven (7) Lease
Years, Rent shall be payable by Tenant in consecutive monthly installments equal to one-twelfth (1/12th) of the Rent amount for the applicable Lease Year on the first (1st) day of each calendar month (or the
immediately preceding Business Day if the first (1st) day of the month is not a Business Day), in advance for such calendar month, during that Lease Year. 

(c) Payment of Rent following Commencement of Variable Rent. From the commencement of the eighth (8th) Lease Year and continuing until
the Expiration Date, both Base Rent and Variable Rent during any Lease Year shall be payable in consecutive monthly installments equal to one-twelfth (1/12th) of the Base Rent and Variable Rent amounts for the
applicable Lease Year on the first (1st) day of each calendar month (or the immediately preceding Business Day if the first (1st) day of the month is not a Business Day), in advance for such calendar month, during that Lease Year; provided,
however, that for each month where Variable Rent is payable but the amount thereof depends upon calculation of Net Revenue not yet known (e.g., the first few months of the eighth (8th) Lease Year, the eleventh (11th) Lease Year, and
(if applicable) the first (1st) Lease Year of each Renewal Term), the amount of the 

  
 45 

 
Variable Rent payable monthly in advance shall remain the same as in the immediately preceding month, and provided, further, that Tenant shall make a payment to Landlord (or be
entitled to set off against its Rent payment due, as applicable) on the first (1st) day of the calendar month (or the immediately preceding Business Day if the first (1st) day of the month is not a Business Day) following the completion of such
calculation in the amount necessary to “true-up” any underpayments or overpayments of Variable Rent for such interim period. Tenant shall complete such calculation of Net Revenue as provided in
Section 3.2 of this Lease. 
 (d) Proration for Partial Lease Year. Unless otherwise agreed by the Parties
in writing, Rent and applicable Additional Charges shall be prorated on a per diem basis as to any Lease Year containing less than twelve (12) calendar months, and with respect to any installment thereof due for any partial months at the
beginning and end of the Term. 
 (e) Rent Allocation. 

(i) Rent during the initial seven (7) Lease Years and Rent thereafter for the duration of the Initial Term shall be
allocated as specified in Schedule 5 hereto and such allocations of Rent and Base Rent shall represent Tenant’s accrued liability on account of the use of the Leased Property during the Initial Term. Landlord and Tenant agree that such
allocations are intended to constitute a specific allocation of fixed rent within the meaning of Treasury Regulation § 1.467-1(c)(2)(ii)(A) to the applicable period and in the respective amounts set forth
in Schedule 5 hereto. Landlord and Tenant agree, for purposes of federal income tax returns filed by it (or on any income tax returns on which its income is included), (i) to accrue rental income and rental expense, respectively during the
Initial Term in the amounts equal to the Rent for a given period plus or minus the amount set forth under the caption “Section 467 Rent Adjustment” in Schedule 5 hereto, and (ii) to deduct interest expense and accrue
interest income, respectively, in the amounts set forth under the caption “Section 467 Interest” in Schedule 5 hereto. 

3.2 Variable Rent Determination. 

(a) Variable Rent Statement. Tenant shall, no later than ninety (90) days after the end of each Variable Rent Determination Period
during the Term, furnish to Landlord a statement (the “Variable Rent Statement”), which Variable Rent Statement shall (i) set forth the sum of the Net Revenues realized with respect to the Facility during each of (x) such
just-ended Variable Rent Determination Period and (y) except with respect to the first (1st) Variable Rent Statement, the Variable Rent Determination Period immediately preceding such just-ended Variable Rent Determination Period,
(ii) except with respect to the first (1st) Variable Rent Statement, set forth Tenant’s calculation of the per annum Variable Rent payable hereunder during the next Variable Rent Payment Period, (iii) be accompanied by reasonably
appropriate supporting data and information, and (iv) be certified by a senior financial officer of Tenant and expressly state that such officer has examined the reports of Net Revenue therein and the supporting data and information
accompanying the same, that such examination included such tests of Tenant’s books and records as reasonably necessary to make such determination, and that such statement accurately presents in all material respects the Net Revenues for the
applicable periods covered thereby, so that Tenant shall commence paying the applicable Variable Rent payable during each Variable Rent Payment Period hereunder (in accordance with the calculation 

  
 46 

 
set forth in each such Variable Rent Statement) no later than the first (1st) day of the fourth (4th) calendar month during such Variable Rent
Payment Period (or the immediately preceding Business Day if the first (1st) day of such month is not a Business Day). 
 (b) Maintenance
of Records Relating to Variable Rent Statement. Tenant shall maintain, at its corporate offices, for a period of not less than six (6) years following the end of each Lease Year, adequate records which shall evidence the Net Revenue
realized by the Facility during each Lease Year, together with all such records that would normally be examined by an independent auditor pursuant to GAAP in performing an audit of Tenant’s Variable Rent Statements. The provisions and covenants
of this Section 3.2(b) shall survive the expiration of the Term or sooner termination of this Lease. 
 (c) Audits. At any
time within two (2) years of receipt of any Variable Rent Statement, Landlord shall have the right to cause to be conducted an independent audit of the matters covered thereby, conducted by a nationally-recognized independent public accounting
firm mutually reasonably agreed to by the Parties. Such audit shall be limited to items necessary to ascertain an accurate determination of the calculation of the Variable Rent payable hereunder, and shall be conducted during normal business hours
at the principal executive office of Tenant. If it shall be determined as a result of such audit (i) that there has been a deficiency in the payment of Variable Rent, such deficiency shall become due and payable by Tenant to Landlord, within
thirty (30) days after such determination, or (ii) that there has been an excess payment of Variable Rent, such excess shall become due and payable by Landlord to Tenant, within thirty (30) days after such determination. In addition,
if any Variable Rent Statement shall be found to have understated the per annum Variable Rent payable during any Variable Rent Payment Period by more than two and one-half percent (2.5%), and Landlord is
entitled to any additional Variable Rent as a result of such understatement, then (x) Tenant shall pay to Landlord all reasonable, out-of-pocket costs and expenses
which may be incurred by Landlord in determining and collecting the understatement or underpayment, including the cost of the audit (if applicable) and (y) interest at the Overdue Rate on the amount of the deficiency from the date when said
payment should have been made until paid. If it shall be determined as a result of such audit that the applicable Variable Rent Statement did not understate the per annum Variable Rent payable during any Variable Rent Payment Period by more than two
and one-half percent (2.5%), then Landlord shall pay to Tenant all reasonable, out-of-pocket costs and expenses incurred by
Tenant in making such determination, including the cost of the audit. In addition, if any Variable Rent Statement shall be found to have willfully and intentionally understated the per annum Variable Rent, by more than five percent (5%), such
understatement shall, at Landlord’s option, constitute a Tenant Event of Default under this Lease. Any audit conducted pursuant to this Section 3.2(c) shall be performed subject to and in accordance with the provisions of Section
23.1(c) hereof. The receipt by Landlord of any Variable Rent Statement or any Variable Rent paid in accordance therewith for any period shall not constitute an admission of the correctness thereof. 

3.3 Late Payment of Rent or Additional Charges. Tenant hereby acknowledges that the late payment by Tenant
to Landlord of any Rent or Additional Charges will cause Landlord to incur costs not contemplated hereunder, the exact amount of which is presently anticipated to be extremely difficult to ascertain. Accordingly, if any installment of Rent or
Additional Charges payable directly to Landlord shall not be paid within four (4) days after its due date, Tenant shall pay to Landlord on demand a late charge equal to the lesser of (a) five

  
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percent (5%) of the amount of such installment or Additional Charges and (b) the maximum amount permitted by law. The Parties agree that this late charge represents a fair and reasonable
estimate of the costs that Landlord will incur by reason of late payment by Tenant. The Parties further agree that any such late charge constitutes Rent, and not interest, and such assessment does not constitute a lender or borrower/creditor
relationship between Landlord and Tenant. If any installment of Rent (or Additional Charges payable directly to Landlord) shall not be paid within nine (9) days after its due date, the amount unpaid, including any late charges previously
accrued and unpaid, shall bear interest at the Overdue Rate (from such ninth (9th) day after the due date of such installment until the date of payment thereof) (including interest accruing during
the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, whether or not a claim for such interest is allowed or allowable in such proceeding), and Tenant shall pay such interest to Landlord on demand. The payment of such
late charge or such interest shall not constitute a waiver of, nor excuse or cure, any default under this Lease, nor prevent Landlord from exercising any other rights and remedies available to Landlord. No failure by Landlord to insist upon strict
performance by Tenant of Tenant’s obligation to pay late charges and interest on sums overdue shall constitute a waiver by Landlord of its right to enforce the provisions, terms and conditions of this Section 3.3. No
payment by Tenant nor receipt by Landlord of a lesser amount than may be required to be paid hereunder shall be deemed to be other than on account of any such payment, nor shall any endorsement or statement on any check or any letter accompanying
any check tendered as payment be deemed an accord and satisfaction and Landlord, in its sole discretion, may accept such check or payment without prejudice to Landlord’s right to recover the balance of such payment due or pursue any other right
or remedy in this Lease provided. 
 3.4 Method of Payment of Rent. Rent and Additional Charges to be paid to Landlord
shall be paid by electronic funds transfer debit transactions through wire transfer, ACH or direct deposit of immediately available federal funds and shall be initiated by Tenant for settlement on or before the applicable Payment Date in each case
(or, in respect of Additional Charges, as applicable, such other date as may be applicable hereunder); provided, however, if the Payment Date is not a Business Day, then settlement shall be made on the preceding Business Day. Landlord
shall provide Tenant with appropriate wire transfer, ACH and direct deposit information in a Notice from Landlord to Tenant. If Landlord directs Tenant to pay any Rent or any Additional Charges to any party other than Landlord, Tenant shall send to
Landlord, simultaneously with such payment, a copy of the transmittal letter or invoice and a check whereby such payment is made or such other evidence of payment as Landlord may reasonably require. 

3.5 Net Lease. Landlord and Tenant acknowledge and agree that (i) this Lease is and is intended to be what is
commonly referred to as a “net, net, net” or “triple net” lease, and (ii) the Rent (including, for avoidance of doubt, following commencement of the obligation to pay Variable Rent hereunder, the Base Rent and Variable Rent
components of the Rent) and Additional Charges shall be paid absolutely net to Landlord, without abatement, deferment, reduction, defense, counterclaim, claim, demand, notice, deduction or offset of any kind whatsoever, so that this Lease shall
yield to Landlord the full amount or benefit of the installments of Rent (including, for the avoidance of doubt, following commencement of the obligation to pay Variable Rent hereunder, the Base Rent and Variable Rent components of the Rent) and
Additional Charges throughout the Term, all as more fully set forth in Article V and 

  
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except and solely to the extent expressly provided in Article XIV (in connection with a Casualty Event), in Article XV (in connection with a Condemnation), in
Section 3.1 (in connection with the “true-up”, if any, applicable to the onset of a Variable Rent Payment Period) and in Section 41.16. If Landlord
commences any proceedings for non-payment of Rent, Tenant will not interpose any defense, offset, claim, counterclaim or cross complaint or similar pleading of any nature or description in such proceedings
unless Tenant would lose or waive such claim by the failure to assert it. This shall not, however, be construed as a waiver of Tenant’s right to assert such claims in a separate action brought by Tenant. The covenants to pay Rent and Additional
Charges hereunder are independent covenants, and Tenant shall have no right to hold back, deduct, defer, reduce, offset or fail to pay any such amounts for default by Landlord or for any other reason whatsoever, except solely as and to the extent
provided in Section 3.1 and this Section 3.5. 
 ARTICLE IV 

ADDITIONAL CHARGES 

4.1 Impositions. Subject to Article XII relating to permitted contests, Tenant shall pay, or
cause to be paid, all Impositions as and when due and payable during the Term to the applicable taxing authority or other party imposing the same before any fine, penalty, premium or interest may be added for
non-payment (provided, (i) such covenant shall not be construed to require early or advance payments that would reduce or discount the amount otherwise owed and (ii) Tenant shall not be
required to pay any Impositions that under the terms of any applicable Ground Lease are required to be paid by the Ground Lessor thereunder). Tenant shall make such payments directly to the taxing authorities where feasible, and on a monthly basis
furnish to Landlord a summary of such payments, together, upon the request of Landlord, with copies of official receipts or other reasonably satisfactory proof evidencing such payments. If Tenant is not permitted to, or it is otherwise not feasible
for Tenant to, make such payments directly to the taxing authorities or other applicable party, then Tenant shall make such payments to Landlord at least ten (10) Business Days prior to the due date, and Landlord shall make such payments to the
taxing authorities or other applicable party prior to the due date. If and to the extent funds for Impositions are being reserved by Tenant on a regular basis with and held by Fee Mortgagee, Tenant shall be permitted to make a direct request to Fee
Mortgagee (contemporaneously providing a copy of such request to Landlord) to cause such funds to be applied to Impositions when due and payable, unless a Tenant Event of Default exists, and, to the extent Fee Mortgagee fails to make such
disbursement, the failure to timely pay such Impositions shall not give rise to any Tenant Event of Default or other liability or obligation of Tenant hereunder. Landlord shall deliver to Tenant any bills received by Landlord for Impositions,
promptly following Landlord’s receipt thereof. Tenant’s obligation to pay Impositions shall be absolutely fixed upon the date such Impositions become a lien upon the Leased Property to the extent payable during the Term or any part
thereof, subject to Article XII. Notwithstanding anything in the first sentence of this Section 4.1 to the contrary, if any Imposition may, at the option of the taxpayer, lawfully be paid in installments, whether or
not interest shall accrue on the unpaid balance of such Imposition, Tenant may pay the same, and any accrued interest on the unpaid balance of such Imposition, in installments as the same respectively become due and before any fine, penalty, premium
or further interest may be added thereto. Nothing in this Section 4.1 shall limit Tenant’s obligations with respect to funding reserves for Impositions to the extent required under
Section 31.3. 

  
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 (a) Landlord or Landlord REIT shall prepare and file all tax returns and reports as may be
required by Legal Requirements with respect to Landlord’s net income, gross receipts, franchise taxes and taxes on its capital stock and any other returns required to be filed by or in the name of Landlord (the “Landlord Tax
Returns”), and Tenant or Tenant’s applicable direct or indirect parent shall prepare and file all other tax returns and reports as may be required by Legal Requirements with respect to or relating to the Leased Property (including all
Capital Improvements) and Tenant’s Property. If any property covered by this Lease is classified as personal property for tax purposes, Tenant shall file all required personal property tax returns in such jurisdictions where it is required to
file pursuant to applicable Legal Requirements and provide copies to Landlord upon request. 
 (b) Any refund due from any taxing authority
in respect of any Imposition paid by or on behalf of Tenant shall be paid over to or retained by Tenant, and any refund due from any taxing authority in respect of any Imposition paid by or on behalf of Landlord, if any, shall be paid over to or
retained by Landlord. 
 (c) Landlord and Tenant shall, upon request of the other, provide such data as is maintained by the Party to whom
the request is made with respect to the Leased Property as may be necessary to prepare any required tax returns and reports. Landlord, to the extent it possesses the same, and Tenant, to the extent it possesses the same, shall provide the other
Party, upon request, with cost and depreciation records necessary for filing returns for any property classified as personal property. Where Landlord is legally required to file personal property tax returns, Landlord shall provide Tenant with
copies of assessment notices indicating a value in excess of the reported value in sufficient time for Tenant to file a protest. 
 (d)
Billings for reimbursement by Tenant to Landlord of personal property or real property taxes and any taxes due under the Landlord Tax Returns, if and to the extent Tenant is responsible for such taxes under the terms of this
Section 4.1 (subject to Article XII), shall be accompanied by copies of a bill therefor and payments thereof which identify in reasonable detail the personal property or real property or other tax obligations of
Landlord with respect to which such payments are made. 
 (e) Impositions imposed or assessed in respect of the tax-fiscal period during which the Commencement Date or the Expiration Date occurs shall be adjusted and prorated between Landlord and Tenant; provided, that Tenant’s obligation to pay its prorated share
of Impositions imposed or assessed before the Expiration Date in respect of a tax-fiscal period during the Term shall survive the Expiration Date (and its right to contest the same pursuant to Article
XII shall survive the Stated Expiration Date). Landlord will not enter into agreements that will result in, or consent to the imposition of, additional Impositions without Tenant’s consent, which shall not be unreasonably withheld,
conditioned or delayed; provided, in each case, Tenant is given reasonable opportunity to participate in the process leading to such agreement. Impositions imposed or assessed in respect of any
tax-fiscal period occurring (in whole or in part) prior to the Commencement Date, if any, shall be Tenant’s obligation to pay or cause to be paid. 

  
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 4.2 Utilities and Other Matters. Tenant shall pay or cause to
be paid all charges for electricity, power, gas, oil, water and other utilities used in the Leased Property. Tenant shall also pay or reimburse Landlord for all costs and expenses of any kind whatsoever which at any time with respect to the Term
hereof may be imposed against Landlord by reason of any Property Documents, or with respect to easements, licenses or other rights over, across or with respect to any adjacent or other property which benefits the Leased Property or any Capital
Improvement, including any and all costs and expenses associated with any utility, drainage and parking easements relating to the Leased Property (but excluding, for the avoidance of doubt, any costs and expenses under any Fee Mortgage Documents).

 4.3 Compliance Certificate. Landlord shall deliver to Tenant, promptly following Landlord’s receipt thereof,
any bills received by Landlord for items required to be paid by Tenant hereunder, including, without limitation, Impositions, utilities and insurance. Promptly upon request of Landlord (but so long as no Event of Default is continuing no more
frequently than one time per Fiscal Quarter), Tenant shall furnish to Landlord a certification stating that all or a specified portion of Impositions, utilities, insurance premiums or, to the extent specified by Landlord, any other amounts payable
by Tenant hereunder that have, in each case, come due prior to the date of such certification have been paid (or that such payments are being contested in good faith by Tenant in accordance herewith) and specifying the portion of the Leased Property
to which such payments relate. 
 4.4 Impound Account. At Landlord’s option following the occurrence and during
the continuation of a monetary Tenant Event of Default (to be exercised by thirty (30) days’ written notice to Tenant), and provided Tenant is not already being required to impound such payments in accordance with the requirements
of Section 31.3 below, Tenant shall be required to deposit, at the time of any payment of Rent, an amount equal to one-twelfth (1/12th) of the sum of (i) Tenant’s estimated
annual real and personal property taxes required pursuant to Section 4.1 hereof (as reasonably determined by Landlord), and (ii) Tenant’s estimated annual insurance premium costs pursuant to Article XIII
hereof (as reasonably determined by Landlord). Such amounts shall be applied to the payment of the obligations in respect of which said amounts were deposited, on or before the respective dates on which the same or any of them would become due. The
reasonable cost of administering such impound account shall be paid by Tenant. Nothing in this Section 4.4 shall be deemed to affect any other right or remedy of Landlord hereunder. 

ARTICLE V 
 NO
TERMINATION, ABATEMENT, ETC. 
 Except as otherwise specifically provided in this Lease, Tenant shall remain bound by this Lease in
accordance with its terms. The obligations of Landlord and Tenant hereunder shall be separate and independent covenants and agreements and the Rent and all other sums payable by Tenant hereunder shall continue to be payable in all events unless the
obligations to pay the same shall be terminated pursuant to the express provisions of this Lease or by termination of this Lease as to all or any portion of the Leased Property other than by reason of an Event of Default. Without limitation of the
preceding sentence, the respective obligations of Landlord and Tenant shall not be affected by reason of, except as expressly set 

  
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forth in Articles XIV and XV, (i) any damage to or destruction of the Leased Property, including any Capital Improvement or any portion thereof from whatever cause, or any
Condemnation of the Leased Property, including any Capital Improvement or any portion thereof or, discontinuance of any service or utility servicing the same; (ii) the lawful or unlawful prohibition of, or restriction upon, Tenant’s use of
the Leased Property, including any Capital Improvement or any portion thereof or the interference with such use by any Person or by reason of eviction by paramount title; (iii) any claim that Tenant has or might have against Landlord by reason
of any default or breach of any warranty by Landlord hereunder or under any other agreement between Landlord and Tenant or to which Landlord and Tenant are parties; (iv) any bankruptcy, insolvency, reorganization, consolidation, readjustment,
liquidation, dissolution, winding up or other proceedings affecting Landlord or any assignee or transferee of Landlord; or (v) for any other cause, whether similar or dissimilar to any of the foregoing. Tenant hereby specifically waives all
rights arising from any occurrence whatsoever which may now or hereafter be conferred upon it by law (a) to modify, surrender or terminate this Lease or quit or surrender the Leased Property or any portion thereof, or (b) which may entitle
Tenant to any abatement, deduction, reduction, suspension or deferment of or defense, counterclaim, claim or set-off against the Rent or other sums payable by Tenant hereunder, except in each case as may be
otherwise specifically provided in this Lease. 
 ARTICLE VI 

OWNERSHIP OF REAL AND PERSONAL PROPERTY 

6.1 Ownership of the Leased Property. 

(a) Landlord and Tenant acknowledge and agree that they have executed and delivered this Lease with the understanding that (i) the Leased
Property is the property of Landlord, (ii) Tenant has only the right to the possession and use of the Leased Property upon the terms and conditions of this Lease, (iii) this Lease is a “true lease,” is not a financing lease,
mortgage, equitable mortgage, deed of trust, trust agreement, security agreement or other financing or trust arrangement, and the economic realities of this Lease are those of a true lease, (iv) the business relationship created by this Lease
and any related documents is and at all times shall remain that of landlord and tenant, (v) this Lease has been entered into by each Party in reliance upon the mutual covenants, conditions and agreements contained herein, and (vi) none of
the agreements contained herein is intended, nor shall the same be deemed or construed, to create a partnership between Landlord and Tenant, to make them joint venturers, to make Tenant an agent, legal representative, partner, subsidiary or employee
of Landlord, or to make Landlord in any way responsible for the debts, obligations or losses of Tenant. 
 (b) Each of the Parties covenants
and agrees, subject to Section 6.1(d), not to (i) file any income tax return or other associated documents, (ii) file any other document with or submit any document to any governmental body or authority, or (iii) enter into any
written contractual arrangement with any Person, in each case that takes a position other than that this Lease is a “true lease” with Landlord as owner of the Leased Property (except as expressly set forth below) and Tenant as the tenant
of the Leased Property. For U.S. federal, state and local income tax purposes, Landlord and Tenant agree that (x) Landlord shall be treated as the owner of the Leased Property eligible to claim depreciation deductions under Sections 167 or 168
of the 

  
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Code with respect to the Leased Property excluding the Leased Property described in clauses (y) and (z) below, (y) Tenant shall be treated as owner of, and eligible to claim
depreciation deductions under Sections 167 or 168 of the Code with respect to, all Tenant Capital Improvements (including, for avoidance of doubt and for purposes of this sentence, Tenant Material Capital Improvements) and Material Capital
Improvements funded by Landlord pursuant to a Landlord MCI Financing that is treated as a loan for such income tax purposes, and (z) Tenant shall be treated as owner of, and eligible to claim depreciation deductions under Sections 167 and 168
of the Code with respect to any Leased Improvements (related to any capital improvement projects ongoing as of the Commencement Date for which fifty percent (50%) or less of the costs of such projects have been paid or accrued as of the Commencement
Date (the completion of such capital improvement projects being an obligation of Tenant at no cost or expense to Landlord). For the avoidance of doubt, Landlord shall be treated as having received from the Debtors on the Commencement Date, as a
capital contribution together with the transfer of the Leased Property to Landlord pursuant to the Bankruptcy Plan, an obligation of Tenant (at no cost or expense to Landlord) to complete any Leased Improvements related to any capital improvement
projects ongoing as of the Commencement Date for which more than fifty percent (50%) of the costs of such projects have been paid or accrued as of the Commencement Date. 

(c) If, notwithstanding (i) the form and substance of this Lease, (ii) the intent of the Parties, and (iii) the language
contained herein providing that this Lease shall at all times be construed, interpreted and applied to create an indivisible lease of all of the Leased Property, any court of competent jurisdiction finds that this Lease is a financing arrangement,
then this Lease shall be considered a secured financing agreement and Landlord’s title to the Leased Property shall constitute a perfected first priority lien in Landlord’s favor on the Leased Property to secure the payment and performance
of all the obligations of Tenant hereunder (and to that end, Tenant hereby grants, assigns and transfers to Landlord a security interest in all right, title or interest in or to any and all of the Leased Property, as security for the prompt and
complete payment and performance when due of Tenant’s obligations hereunder). In such event, Tenant (and each Permitted Leasehold Mortgagee) authorizes Landlord, at the expense of Tenant, to make any filings or take other actions as Landlord
reasonably determines are necessary or advisable in order to effect fully this Lease or to more fully perfect or renew the rights of Landlord, and to subordinate to Landlord the lien of any Permitted Leasehold Mortgagee, with respect to the Leased
Property (it being understood that nothing in this Section 6.1(c) shall affect the rights of a Permitted Leasehold Mortgagee under Article XVII hereof). At any time and from time to time upon the request of Landlord, and at the expense
of Tenant, Tenant shall promptly execute, acknowledge and deliver such further documents and do such other acts as Landlord may reasonably request in order to effect fully this Section 6.1(c) or to more fully perfect or renew the rights of
Landlord with respect to the Leased Property as described in this Section 6.1(c). 
 (d) Notwithstanding the foregoing, the Parties
acknowledge that, as of the Commencement Date, for GAAP purposes this Lease is not expected to be treated as a “true lease” and that the Parties will prepare Financial Statements consistent with GAAP (and for purposes of any SEC or other
similar governmental filing purposes), as applicable. 
 (e) Landlord and Tenant acknowledge and agree that the Rent is the fair market rent
for the use of the Leased Property and was agreed to by Landlord and Tenant on that basis, 

  
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and the execution and delivery of, and the performance by Tenant of its obligations under, this Lease does not constitute a transfer of all or any part of the Leased Property, but rather the
creation of the Leasehold Estate subject to the terms and conditions of this Lease. 
 (f) Tenant waives any claim or defense based upon the
characterization of this Lease as anything other than a true lease of the Leased Property. Tenant stipulates and agrees (1) not to challenge the validity, enforceability or characterization of this Lease of the Leased Property as a true lease,
and (2) not to assert or take or omit to take any action inconsistent with the agreements and understandings set forth in Section 1.2, Section 3.5 or this
Section 6.1. The expressions of intent, the waivers, the representations and warranties, the covenants, the agreements and the stipulations set forth in this Section 6.1 are a material inducement
to Landlord entering into this Lease. 
 6.2 Ownership of Tenant’s Property. Tenant
shall, during the entire Term, (a) own (or lease) and maintain (or cause its Subsidiaries, if any, to own (or lease) and maintain) on the Leased Property adequate and sufficient Tenant’s Property, (b) maintain (or cause its
Subsidiaries, if any, to maintain) all of such Tenant’s Property in good order, condition and repair, in all cases as shall be necessary and appropriate in order to operate the Leased Property for the Primary Intended Use in material compliance
with all applicable licensure and certification requirements and in material compliance with all applicable Legal Requirements, Insurance Requirements and Gaming Regulations, and (c) abide by (or cause its Subsidiaries, if any, to abide by) the
terms and conditions of, and not in any way cause a termination of, the Omnibus Agreement. If any of Tenant’s Property requires replacement in order to comply with the foregoing, Tenant shall replace (or cause a Subsidiary to replace) it with
similar property of the same or better quality at Tenant’s (or such Subsidiary’s) sole cost and expense. Subject to the foregoing and the other express terms and conditions of this Lease (including, without limitation,
Section 6.3 hereof), Tenant and its Subsidiaries, if any, may sell, transfer, convey or otherwise dispose of Tenant’s Property in their discretion in the ordinary course of their business and Landlord shall thereafter
have no rights to such sold, transferred, conveyed or otherwise disposed of Tenant’s Property. In the case of any such Tenant’s Property that is leased (rather than owned) by Tenant (or its Subsidiaries, if any), Tenant shall use
commercially reasonable efforts to ensure that any agreements entered into after the Commencement Date pursuant to which Tenant (or its Subsidiaries, if any) leases such Tenant’s Property are assignable to third parties in connection with any
transfer by Tenant (or its Subsidiaries, if any) to a replacement lessee or operator at the end of the Term. To the extent not transferred to a Successor Tenant pursuant to Article XXXVI hereof (and subject to Landlord’s rights under
Section 6.3 and the rights of any Permitted Leasehold Mortgagee under Article XVII and the terms and conditions of the Intercreditor Agreement and the terms and conditions of the Transition Services
Agreement), Tenant shall remove all of Tenant’s Property from the Leased Property at the end of the Term. Any Tenant’s Property left on the Leased Property at the end of the Term whose ownership was not transferred to a Permitted Leasehold
Mortgagee or its designee or assignee that entered into or succeeded to a New Lease pursuant to the terms hereof or to a Successor Tenant pursuant to Article XXXVI hereof shall be deemed abandoned by Tenant and shall become the property of
Landlord. Notwithstanding anything to the contrary contained herein, but without limitation of Tenant’s express rights to effect replacements, make dispositions or grant liens with respect to Tenant’s Pledged Property under this
Section 6.2 and Section 6.3, Tenant shall own, hold and/or lease, as applicable, all of the material Tenant’s Pledged Property relating to the Leased Property. 

  
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 6.3 Landlord’s Security Interest in Tenant’s Pledged Property.

 (a) To secure the performance of Tenant’s obligations under this Lease, including, without limitation, Tenant’s obligation to
pay Rent hereunder, Tenant (on behalf of itself and on behalf of all of its Subsidiaries and Affiliates, as applicable), collectively, as debtor, hereby grants to Landlord, as secured party, a first priority security interest in all of Tenant’s
(and all of Tenant’s Subsidiaries’ and Affiliates’, as applicable) right, title and interest in and to Tenant’s Pledged Property now owned or in which Tenant (or any of Tenant’s Subsidiaries and Affiliates, as applicable)
hereafter acquires an interest or right. This Lease constitutes a security agreement covering all such Tenant’s Pledged Property. The Parties acknowledge that the security interest granted hereunder is subject to the terms and conditions of the
Intercreditor Agreement. 
 (b) The security interest granted to Landlord in Tenant’s Pledged Property is subordinate to any security
interest granted by Tenant (or any Subsidiary or Affiliate of Tenant) in tangible components of Tenant’s Pledged Property for the purpose of securing purchase money financing with respect thereto (including equipment leases or equipment
financing), as long as, (I) with respect to any such purchase money financing entered into from and after the Commencement Date with an initial principal balance in excess of Fifty Million and No/100 Dollars ($50,000,000.00), (a) Tenant
provides Landlord (and any Fee Mortgagee of which it is given notice in accordance herewith) with copies of the documentation evidencing such financing or leasing and (b) Tenant shall use commercially reasonable efforts to have the lessor
or financier of such purchase money financing agree to give Landlord (and any such Fee Mortgagee) notice of any default by Tenant under the terms of such arrangement and a reasonable time following such notice to cure any such default and to consent
to Landlord’s (or any such Fee Mortgagee’s) written assumption of such arrangement upon curing such default, in each case prior to exercising any remedies in respect of such default and (II) the aggregate amount of any purchase money
indebtedness in respect of Tenant’s Pledged Property (together with the aggregate amount of any purchase money indebtedness in respect of “Tenant’s Pledged Property” under and as defined in each of the Other Leases) shall not
exceed at any time an amount equal to two and one-half percent (2.5%) of the consolidated total assets of CEOC from time to time. 

(c) Tenant shall pay all filing fees and record search fees and other reasonable costs for such additional security agreements, financing
statements, fixture filings, and other documents as Landlord may reasonably require to perfect or to continue the perfection of Landlord’s security interest in Tenant’s Pledged Property. Landlord shall have the right to collaterally assign
such security interest granted to Landlord in Tenant’s Pledged Property to any Fee Mortgagee. 
 (d) Notwithstanding the foregoing or
anything herein to the contrary, Landlord may not foreclose upon or exercise remedies against Landlord’s security interest in Tenant’s Pledged Property unless and until both (i) the Landlord’s Enforcement Condition has occurred
and (ii) this Lease has either (1) been rejected in bankruptcy (and no Permitted Leasehold 

  
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Mortgagee is entitled to obtain a New Lease in accordance with Section 17.1(f) hereof) or (2) terminated by Landlord pursuant to Section 16.2(x) hereof; provided,
however, that notwithstanding the foregoing or anything otherwise set forth in this Lease Landlord may, (I) at any time take such actions as are available to a secured creditor in any bankruptcy, insolvency or dissolution proceeding, and
(II) commence foreclosure proceedings and otherwise take steps in connection with exercising its remedies under this Section 6.3 with respect to Tenant’s Pledged Property after the occurrence and during the
continuance of a Tenant Event of Default, so long as (x) Landlord does not consummate such foreclosure and does not complete any such other exercise of remedies which would, or take any other action which would, effect a transfer of ownership,
title or possession of Tenant’s Pledged Property prior to termination or rejection of the Lease (and failure of any Permitted Leasehold Mortgagee to obtain a New Lease in accordance with Section 17.1(f) hereof), and (y) during any
period that any Permitted Leasehold Mortgagee is entitled to cure a Tenant Event of Default or obtain a New Lease pursuant to and in accordance with Sections 17.1(d), (e) and (f) of this Lease, as the case may be, Landlord
does not impair or interfere with the exercise of any rights of Tenant hereunder (including but not limited to cure rights) or any rights of any Permitted Leasehold Mortgagee (including but not limited to cure rights) with respect to Tenant’s
Pledged Property as set forth hereunder or in the Intercreditor Agreement. Notwithstanding anything herein to the contrary, the lien and security interest granted to Landlord pursuant to this Lease in the Tenant’s Pledged Property and the
exercise of any right or remedy by Landlord hereunder against the Tenant’s Pledged Property are subject to the provisions of the Intercreditor Agreement. Subject to the restriction effected by clause (x) above, in the event of any conflict
between the terms of the Intercreditor Agreement and this Lease, the terms of the Intercreditor Agreement shall govern and control. 
 (e)
Any Tenant’s Pledged Property that is sold, transferred, conveyed or otherwise disposed of in accordance with Section 6.2 shall be automatically released from the security interest granted to Landlord in Tenant’s
Pledged Property and Landlord shall, at Tenant’s request, execute such documents and instruments to evidence such release. Landlord acknowledges that a Permitted Leasehold Mortgagee may have a subordinate lien on Tenant’s Pledged Property,
provided that such lien in favor of a Permitted Leasehold Mortgagee is subject and subordinate to the first-priority lien thereon in favor of Landlord on the terms and conditions set forth in the Intercreditor Agreement. 

(f) Tenant and each of Tenant’s Subsidiaries and Affiliates that have granted to Landlord a security interest as described herein
acknowledges that this Agreement is being entered into and approved in connection with Tenant’s pending chapter 11 bankruptcy case and agrees that, in the event Tenant or any such Tenant Subsidiary or Affiliates files or has filed against it
another case under Title 11 of the U.S. Code, Landlord shall thereupon be entitled immediately to relief from the automatic stay of Section 362 and from any other stay or restriction on Landlord’s ability to exercise the rights and
remedies available to Landlord as a secured creditor with respect to Tenant’s Pledged Property, and Tenant and each such Tenant Subsidiary and Affiliate hereby waives the benefits of such automatic stay or restriction and consents and agrees to
raise no objection to such relief sought by Landlord. 
 (g) Tenant (and Tenant’s Subsidiaries and Affiliates, as applicable) shall
promptly execute such other separate security agreements consistent with the terms of this Section 6.3 with respect to Tenant’s Pledged Property as Landlord may reasonably request from time to time to evidence
such security interest in Tenant’s Pledged Property created by this Section 6.3. 

  
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 ARTICLE VII 

PRESENT CONDITION & PERMITTED USE 

7.1 Condition of the Leased Property. Tenant acknowledges receipt and delivery of possession of the Leased Property and
confirms that Tenant has examined and otherwise has knowledge of the condition of the Leased Property prior to and as of the execution and delivery of this Lease and has found the same to be satisfactory for its purposes hereunder, it being
understood and acknowledged by Tenant that, immediately prior to Landlord’s acquisition of the Leased Property and contemporaneous entry into this Lease, Tenant (or its Affiliates) was the owner of all of Landlord’s interest in and to the
Leased Property and, accordingly, Tenant is charged with, and deemed to have, full and complete knowledge of all aspects of the condition and state of the Leased Property as of the Commencement Date. Without limitation of the foregoing and
regardless of any examination or inspection made by Tenant, and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Leased Property “as is” in its present condition. Without
limitation of the foregoing, Tenant waives any claim or action against Landlord in respect of the condition of the Leased Property including any defects or adverse conditions not discovered or otherwise known by Tenant as of the Commencement Date.
LANDLORD MAKES NO WARRANTY OR REPRESENTATION OF ANY KIND, EXPRESS OR IMPLIED, IN RESPECT OF THE LEASED PROPERTY OR ANY PART THEREOF, INCLUDING AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, OR AS TO
THE NATURE OR QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, OR THE STATUS OF TITLE TO THE LEASED PROPERTY OR THE PHYSICAL CONDITION OR STATE OF REPAIR THEREOF, OR THE ZONING OR OTHER LAWS, ORDINANCES, BUILDING CODES, REGULATIONS, RULES AND ORDERS
APPLICABLE THERETO OR TO ANY CAPITAL IMPROVEMENTS WHICH MAY BE NOW OR HEREAFTER CONTEMPLATED, THE IMPOSITIONS LEVIED IN RESPECT OF THE LEASED PROPERTY OR ANY PART THEREOF, OR THE USE THAT MAY BE MADE OF THE LEASED PROPERTY OR ANY PART THEREOF, THE
INCOME TO BE DERIVED FROM THE FACILITY OR THE EXPENSE OF OPERATING THE SAME, OR THE EXISTENCE OF ANY HAZARDOUS SUBSTANCE, IT BEING AGREED THAT ALL SUCH RISKS, LATENT OR PATENT, ARE TO BE BORNE SOLELY BY TENANT INCLUDING ALL RESPONSIBILITY AND
LIABILITY FOR ANY ENVIRONMENTAL REMEDIATION AND COMPLIANCE WITH ALL ENVIRONMENTAL LAWS. This Section 7.1 shall not be construed to limit Landlord’s express indemnities made hereunder. 

7.2 Use of the Leased Property. 

(a) Tenant shall not use (or cause or permit to be used) the Facility, including the Leased Property, or any portion thereof, including any
Capital Improvement, for any use other than the Primary Intended Use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of the Leased Property for its
Primary Intended Use generally may require a Gaming License under 

  
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applicable Gaming Regulations and that without such a license, if applicable, neither Landlord nor Landlord REIT may operate, control or participate in the conduct of the gaming operations at the
Facility. Tenant acknowledges that operation of the Facility for its Primary Intended Use generally may require a Gaming License under applicable Gaming Regulations and that without such a license, if applicable, Tenant may not operate, control or
participate in the conduct of the gaming operations at the Facility. 
 (b) Tenant shall not commit or suffer to be committed any waste with
respect to the Facility, including on or to the Leased Property (and, without limitation, to the Capital Improvements) or cause or permit any nuisance thereon or, except as required by law, knowingly take or suffer any action or condition that will
diminish in any material respect, the ability of the Leased Property to be used as a Gaming Facility (or otherwise for the Primary Intended Use) after the Expiration Date. 

(c) Tenant shall not, without the prior written consent of Landlord, which shall not be unreasonably withheld, conditioned or delayed,
(i) initiate or support any limiting change in the permitted uses of the Leased Property (or to the extent applicable, limiting zoning reclassification of the Leased Property); (ii) seek any variance under existing land use restrictions,
laws, rules or regulations (or, to the extent applicable, zoning ordinances) applicable to the Leased Property or the use of the Leased Property in any manner that adversely affects (other than to a de minimis extent) the value or utility of the
Leased Property for the Primary Intended Use; (iii) execute or file any subdivision plat or condominium declaration affecting the Leased Property or any portion thereof, or institute, or permit the institution of, proceedings to alter any tax
lot comprising the Leased Property or any portion thereof; or (iv) permit or suffer the Leased Property or any portion thereof to be used by the public or any Person in such manner as might make possible a claim of adverse usage or possession
or of any implied dedication or easement (provided that the proscription in this clause (iv) is not intended to and shall not restrict Tenant in any way from complying with any obligation it may have under applicable Legal Requirements,
including, without limitation, Gaming Regulations, to afford to the public access to the Leased Property or any portion thereof). Without limiting the foregoing, (1) Tenant will not impose or permit the imposition of any restrictive covenants,
easements or other encumbrances upon the Leased Property without Landlord’s consent, which shall not be unreasonably withheld, conditioned or delayed, provided, that, Landlord is given reasonable opportunity to participate in the
process leading to such agreement, and (2) other than any liens or other encumbrances granted to a Fee Mortgagee, Landlord will not enter into agreements that will encumber the Leased Property without Tenant’s consent, which shall not be
unreasonably withheld, conditioned or delayed, provided, that, Tenant is given reasonable opportunity to participate in the process leading to such agreement. Landlord agrees it will not withhold consent to utility easements and other
similar encumbrances made in the ordinary course of Tenant’s business conducted on the Leased Property in accordance with the Primary Intended Use, provided the same does not adversely affect in any material respect the use or utility of the
Leased Property for the Primary Intended Use. Nothing in the foregoing is intended to vitiate or supersede Tenant’s right to enter into Permitted Leasehold Mortgages or Landlord’s right to enter into Fee Mortgages in each case as and to
the extent provided herein. 
 (d) Intentionally Omitted. 

  
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 (e) Subject to Article XII regarding permitted contests, Tenant, at its
sole cost and expense, shall promptly (i) comply in all material respects with all Legal Requirements and Insurance Requirements affecting the Facility and the business conducted thereat, including those regarding the use, operation,
maintenance, repair and restoration of the Leased Property or any portion thereof (including all Capital Improvements) and Tenant’s Property whether or not compliance therewith may require structural changes in any of the Leased Improvements or
interfere with the use and enjoyment of the Leased Property or any portion thereof, and (ii) procure, maintain and comply in all material respects with all Gaming Regulations and Gaming Licenses, and other authorizations required for the use of
the Leased Property (including all Capital Improvements) and Tenant’s Property for the applicable Primary Intended Use and any other use of the Leased Property (and Capital Improvements then being made) and Tenant’s Property, and for the
proper erection, installation, operation and maintenance of the Leased Property and Tenant’s Property. In an emergency involving an imminent threat to human health and safety or damage to property, or in the event of a breach by Tenant of its
obligations under this Section 7.2 which is not cured within any applicable cure period set forth herein, Landlord or its representatives (and any Fee Mortgagee) may, but shall not be obligated to, enter upon the Leased
Property (and, without limitation, all Capital Improvements) (upon reasonable prior written notice to Tenant, except in the case of emergency, and Tenant shall be permitted to have Landlord or its representatives accompanied by a representative of
Tenant) and take such reasonable actions and incur such reasonable costs and expenses to effect such compliance as it deems advisable to protect its interest in the Leased Property, and Tenant shall reimburse Landlord for all such reasonable out-of-pocket costs and expenses actually incurred by Landlord in connection with such actions. 

(f) Without limitation of any of the other provisions of this Lease, Tenant shall comply with all Property Documents (i) that are listed
on the title policies described on Exhibit I attached hereto, or (ii) made after the date hereof in accordance with the terms of this Lease or as may otherwise be agreed to in writing by Tenant or Landlord. 

7.3 Ground Leases. 

(a) This Lease, to the extent affecting and solely with respect to the Ground Leased Property, is and shall be subject and subordinate to all
of the terms and conditions of the Ground Leases and to all liens, rights and encumbrances to which the Ground Leases are subject or subordinate. Tenant hereby acknowledges that Tenant has reviewed and agreed to all of the terms and conditions of
the Ground Leases in effect as of the Commencement Date as listed on Schedule 2 attached hereto. Tenant hereby agrees that (x) Tenant shall comply with all provisions, terms and conditions of the Ground Leases in effect as of the
Commencement Date as listed on Schedule 2, except to the extent such provisions, terms and conditions (1) apply solely to Landlord, (2) are not susceptible of being performed (or if breached, are not capable of being cured) by
Tenant, and (3) in the case of the Ground Leases in effect as of the Commencement Date, are expressly set forth in the copies of such Ground Leases that were furnished to Landlord by Tenant on or prior to the Commencement Date (provisions,
terms and conditions satisfying clauses (1) through (3), “Landlord Specific Ground Lease Requirements”), and (y) Tenant shall not do, or (except with respect to Landlord Specific Ground Lease Requirements) fail to do,
anything that would cause any violation of the Ground Leases. Without limiting the foregoing, (i) Tenant acknowledges that it shall be obligated to (and shall) 

  
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pay, as part of Tenant’s obligations under this Lease, all monetary obligations imposed upon Landlord as the lessee under any and all of the Ground Leases, including, without limitation, any
rent and additional rent payable thereunder and shall, upon request, provide satisfactory proof evidencing such payments to Landlord, (ii) to the extent Landlord is required to obtain the written consent of the lessor under any applicable
Ground Lease (in each case, the “Ground Lessor”) to alterations of or the subleasing of all or any portion of the Ground Leased Property pursuant to any Ground Lease, Tenant shall likewise obtain the applicable Ground Lessor’s
written consent to alterations of or the sub-subleasing of all or any portion of the Ground Leased Property (in each case, to the extent the same is permitted hereunder), and (iii) (without limitation of the
Insurance Requirements hereunder) Tenant shall carry and maintain general liability, automobile liability, property and casualty, worker’s compensation, employer’s liability insurance and such other insurance, if any, in amounts and with
policy provisions, coverages and certificates as required of Landlord as tenant under any applicable Ground Lease. The foregoing is not intended to vitiate or supersede Landlord’s rights as lessee under any Ground Lease, and, without limitation
of the preceding portion of this sentence or of any other rights or remedies of Landlord hereunder, in the event Tenant fails to comply with its obligations with respect to Ground Leases as described herein (without giving effect to any notice or
cure periods thereunder), Landlord shall have the right (but without any obligation to Tenant or any liability for failure to exercise such right), following written notice to Tenant and the passage of a reasonable period of time (except to the
extent the failure is of a nature such that it is not practicable for Landlord to provide such prior written notice, in which event Landlord shall provide written notice as soon as practicable) to cure such failure, in which event Tenant shall
reimburse Landlord for Landlord’s reasonable costs and expenses incurred in connection with curing such failure. The parties acknowledge that the Ground Leases on the one hand, and this Lease on the other hand, constitute separate contractual
arrangements among separate parties and nothing in this Lease shall vitiate or otherwise affect the obligations of the parties to the Ground Leases, and nothing in the Ground Leases shall vitiate or otherwise affect the obligations of the parties
hereto pursuant to this Lease (except as specifically set forth in this Section 7.3). 
 (b) Subject to Section
7.3(c) below, in the event of cancellation or termination of any Ground Lease for any reason whatsoever whether voluntary or involuntary (by operation of law or otherwise) prior to the expiration date of this Lease, including extensions and
renewals granted thereunder (other than the cancellation or termination of a Ground Lease entered into in connection with a sale-leaseback transaction by Landlord (other than if such cancellation or termination resulted from Tenant’s default
under this Lease), which cancellation or termination results in the Leased Property leased under such Ground Lease no longer being subject to this Lease), then, this Lease and Tenant’s obligation to pay the Rent and Additional Charges hereunder
and all other obligations of Tenant hereunder (other than such obligations of Tenant hereunder that concern solely the applicable Ground Leased Property demised under the affected Ground Lease) shall continue unabated; provided that if Landlord (or
any Fee Mortgagee) enters into a replacement lease with respect to the applicable Ground Leased Property on substantially similar terms to those of such cancelled or terminated Ground Lease, then such replacement lease shall automatically become a
Ground Lease hereunder and such Ground Leased Property shall remain part of the Leased Property hereunder. Nothing contained in this Lease shall create, or be construed as creating, any privity of contract or privity of estate between Ground Lessor
and Tenant. 

  
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 (c) With respect to any Ground Leased Property, the Ground Lease for which has an expiration date
(taking into account any renewal options exercised thereunder as of the Commencement Date or hereafter exercised) prior to the expiration of the Term (taking into account any exercised renewal options hereunder), this Lease shall expire solely with
respect to such Ground Leased Property concurrently with such Ground Lease expiration date (taking into account the terms of the following sentences of this Section 7.3(c)). There shall be no reduction in Rent nor Required Capital
Expenditures by reason of such expiration with respect to, and the corresponding removal from this Lease of, any such Ground Leased Property. Landlord (as ground lessee) shall be required to exercise all renewal options contained in each Ground
Lease so as to extend the term thereof (provided, that Tenant shall furnish to Landlord written notice of the outside date by which any such renewal option must be exercised in order to validly extend the term of any such Ground Lease; such
notice shall be delivered no earlier than one hundred twenty (120) days prior to the earliest date any such option may be validly exercised and no later than forty-five (45) days prior to the outside date by which such option must be
validly exercised, which notice shall be followed by a second notice from Tenant to Landlord of such outside date, such notice to be furnished to Landlord no later than fifteen (15) days prior to the outside date), and Landlord shall provide
Tenant with a copy of Landlord’s exercise of such renewal option. With respect to any Ground Lease that otherwise would expire during the Term, Tenant, on Landlord’s behalf, shall have the right to negotiate for a renewal or replacement of
such Ground Lease with the third-party ground lessor, on terms satisfactory to Tenant (subject, (i) to Landlord’s reasonable consent with respect to the provisions, terms and conditions thereof which would reasonably be expected to
materially and adversely affect Landlord, and (ii) in the case of any such renewal or replacement that would extend the term of such Ground Lease beyond the Term, to Landlord’s sole right to approve any such provisions, terms and
conditions that would be applicable beyond the Term). 
 (d) Nothing contained in this Lease amends, or shall be construed to amend, any
provision of the Ground Leases. 
 (e) Tenant shall indemnify, defend and hold harmless the Landlord Indemnified Parties, the Ground Lessor,
any master lessor to Ground Lessor and any other party entitled to be indemnified by Landlord pursuant to the terms of any Ground Lease from and against any and all claims arising from or in connection with the Facility and/or this Lease with
respect to which such party is entitled to indemnification by Landlord pursuant to the terms of any Ground Lease, and from and against all costs, attorneys’ fees, expenses and liabilities incurred in the defense of any such claim or any action
or proceeding brought thereon to the extent provided in the applicable Ground Lease; and in case any such action or proceeding be brought against any of the Landlord Indemnified Parties, any Ground Lessor or any master lessor to Ground Lessor or any
such party by reason of any such claim, Tenant, upon notice from Landlord or any of its Affiliates or such other Landlord Indemnified Party, such Ground Lessor or such master lessor to Ground Lessor or any such party, shall defend the same at
Tenant’s expense by counsel reasonably satisfactory to the party or parties indemnified pursuant to this paragraph or the Ground Lease. Notwithstanding the foregoing, in no event shall Tenant be required to indemnify, defend or hold harmless
the Landlord Indemnified Parties, the Ground Lessor, any master lessor to Ground Lessor or any other party from or against any claims to the extent resulting from (i) the gross negligence or willful misconduct of Landlord, or (ii) the
actions of Landlord except if such actions are the result of Tenant’s failure, in violation of this Lease, to act. 

  
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 (f) To the extent required under the applicable Ground Lease, Tenant hereby waives any and all
rights of recovery (including subrogation rights of its insurers) from the applicable Ground Lessor, its agents, principals, employees and representatives for any loss or damage, including consequential loss or damage, covered by any insurance
policy maintained by Tenant, whether or not such policy is required under the terms of the Ground Lease. 
 (g) Landlord shall not enter
into any new ground leases with respect to the Leased Property or any portion thereof (except as provided by Section 7.3(h)), or amend, modify or terminate any existing Ground Leases (except as provided by Section 7.3(b) or Section
7.3(c)), in each case without Tenant’s prior written consent in its reasonable discretion, provided, that, Landlord may amend or modify Ground Leases in a manner that will not adversely affect Tenant (e.g., an amendment
relating to a period following the end of the Term), and Landlord may acquire the fee interest in the property leased pursuant to any Ground Lease, so long as Tenant’s rights and obligations hereunder are not adversely affected thereby. 

(h) Landlord may enter into new Ground Leases with respect to the Leased Property or any portion thereof (including pursuant to a
sale-leaseback transaction), provided that, notwithstanding anything herein to the contrary, (other than replacement Ground Lease(s) made pursuant to Section 7.3(b) or Ground Lease(s) made pursuant to the final sentence of Section
7.3(c)), Tenant shall not be obligated to comply with any additional or more onerous obligations under such new ground lease with which Tenant is not otherwise obligated to comply under this Lease (and, without limiting the generality of the
foregoing, Tenant shall not be required to incur any additional monetary obligations (whether for payment of rents under such new Ground Lease or otherwise) in connection with such new Ground Lease) (except to a de minimis extent), unless Tenant
approves such additional obligations in its sole and absolute discretion. 
 7.4 Third-Party Reports. Upon
Landlord’s reasonable request from time to time, Tenant shall provide Landlord with copies of any third-party reports obtained by Tenant with respect to the Leased Property, including, without limitation, copies of surveys, environmental
reports and property condition reports. 
 7.5 Operating Standard. Tenant shall cause the Facility to be Operated (as
defined in the MLSA) in a Non-Discriminatory (as defined in the MLSA) manner, in accordance with the Operating Standard (as defined in the MLSA) and subject to Manager’s Standard of Care (as defined in
the MLSA) (in each case as and to the extent required under the MLSA, including as provided in Section 2.1.1, Section 2.1.2, Section 2.1.3, Section 2.1.4, Section 2.3.1, and Section 2.3.2 of the MLSA, but subject to
Section 5.9.1 of the MLSA), in each case except to the extent failure to do so does not result in a material adverse effect on Landlord (taken as a whole with “Landlord” as defined under the
Non-CPLV Lease) or on the Facility (taken as a whole with the Non-CPLV Facilities). For avoidance of doubt, the provisions of this Section 7.5
and Section 16.1(f) hereof shall continue to apply even if the Facility is being managed pursuant to a Replacement Management Agreement. 

  
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 ARTICLE VIII 

REPRESENTATIONS AND WARRANTIES 

Each Party represents and warrants to the other that as of the Commencement Date: (i) this Lease and all other documents executed, or to
be executed, by it in connection herewith have been duly authorized and shall be binding upon it; (ii) it is duly organized, validly existing and in good standing under the laws of the state of its formation and is duly authorized and qualified
to perform this Lease within the State of Illinois; and (iii) neither this Lease nor any other document executed or to be executed in connection herewith violates the terms of any other agreement of such Party. 

ARTICLE IX 
 MAINTENANCE
AND REPAIR 
 9.1 Tenant Obligations. Subject to the provisions of Sections 10.1, 10.2 and
10.3 relating to Landlord’s approval of certain Alterations, Capital Improvements and Material Capital Improvements, Tenant, at its expense and without the prior consent of Landlord, shall maintain the Leased Property, and every portion
thereof, including all of the Leased Improvements and the structural elements and the plumbing, heating, ventilating, air conditioning, electrical, lighting, sprinkler and other utility systems thereof, all fixtures and all appurtenances to the
Leased Property including any and all private roadways, sidewalks and curbs appurtenant to the Leased Property, and Tenant’s Property, in each case in good order and repair whether or not the need for such repairs occurs as a result of
Tenant’s use, any prior use, the elements or the age of the Leased Property, and, with reasonable promptness, make all reasonably necessary and appropriate repairs thereto of every kind and nature, including those necessary to ensure continuing
compliance with all Legal Requirements (including, without limitation, all Gaming Regulations and Environmental Laws) (to the extent required hereunder), Insurance Requirements, the Ground Leases and Property Documents whether now or hereafter in
effect (other than any Ground Leases or Property Documents (or modifications to Ground Leases or Property Documents) entered into after the Commencement Date that impose obligations on Tenant (other than de minimis obligations) to the extent
(x) entered into by Landlord without Tenant’s consent pursuant to Section 7.2(c) or (y) Tenant is not required to comply therewith pursuant to Section 7.3(b), Section 7.3(g) or Section 7.3(h)) and, with
respect to any Fee Mortgages, the applicable provisions of such Fee Mortgage Documents as and to the extent Tenant is required to comply therewith pursuant to Article XXXI hereof, in each case except to the extent otherwise provided in
Article XIV or Article XV of this Lease, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing
prior to or first arising after the Commencement Date. 
 9.2 No Landlord Obligations. Landlord shall not under any
circumstances be required to (i) build or rebuild any improvements on the Leased Property; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature to the Leased Property, whether ordinary or extraordinary,
structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto; or (iii) maintain the Leased Property in any way.

  
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Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Landlord pursuant to any law in effect at the time of the execution of this Lease or hereafter
enacted. This Section 9.2 shall not be construed to limit Landlord’s express indemnities, if any, made hereunder. 

9.3 Landlord’s Estate. Nothing contained in this Lease and no action or inaction by Landlord shall be construed as
(i) constituting the consent or request of Landlord, expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property
for the construction, alteration, addition, repair or demolition of or to the Leased Property, or any part thereof, or any Capital Improvement; or (ii) giving Tenant any right, power or permission to contract for or permit the performance of
any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any
right, title, interest, lien, claim or other encumbrance upon the estate of Landlord in the Leased Property, or any portion thereof or upon the estate of Landlord in any Capital Improvement. 

9.4 End of Term. Subject to Sections 17.1(f) and 36.1, Tenant shall, upon the expiration or earlier
termination of the Term, vacate and surrender and relinquish in favor of Landlord all rights to the Leased Property (together with all Capital Improvements, including all Tenant Capital Improvements, except to the extent provided in
Section 10.4 in respect of Tenant Material Capital Improvements), in each case, in the condition in which such Leased Property was originally received from Landlord and, in the case of Capital Improvements (other than
Tenant Material Capital Improvements to the extent provided in Section 10.4), when such Capital Improvements were originally introduced to the Facility, except as repaired, rebuilt, restored, altered or added to as
permitted or required by the provisions of this Lease and except for ordinary wear and tear and subject to any Casualty Event or Condemnation as provided in Articles XIV and XV. 

ARTICLE X 
 ALTERATIONS

 10.1 Alterations, Capital Improvements and Material Capital Improvements. 

(a) Tenant shall not be required to obtain Landlord’s consent or approval to make any Alterations or Capital Improvements (including any
Material Capital Improvement) to the Leased Property in its reasonable discretion; provided, however, that all such Alterations and Capital Improvements (i) shall be of equal quality to or better quality than the applicable
portions of the existing Facility, as applicable, except to the extent Alterations or Capital Improvements of lesser quality would not, in the reasonable opinion of Tenant, result in any diminution of value of the Leased Property (or applicable
portion thereof), (ii) shall not have an adverse effect on the structural integrity of any portion of the Leased Property, and (iii) shall not otherwise result in a diminution of value to the Leased Property. If any Alteration or Capital
Improvement would not or does not meet the standards of the preceding sentence, then such Alteration or Capital Improvement shall be subject to Landlord’s written approval, which written approval shall not be unreasonably withheld, conditioned
or delayed. Further, if any Alteration or Capital Improvement (or the aggregate amount of all related Alterations or Capital Improvements) has a total budgeted cost (as reasonably evidenced to Landlord) in excess of Seventy-Five Million and No/100
Dollars ($75,000,000.00) (the “Alteration Threshold”), then (1) such Alteration or Capital 

  
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Improvement (or series of related Alterations or Capital Improvements) shall be subject to the approval of Landlord and, if applicable, subject to Section 31.3, any Fee
Mortgagee, in each case which written approval shall not be unreasonably withheld, conditioned or delayed, and (2) if the total unpaid amounts due and payable with respect to such Alteration or Capital Improvement exceed the Alteration
Threshold, Tenant shall promptly deliver to Landlord as security for the payment of such amounts and as additional security for Tenant’s obligations under this Lease, any of the following, in each case in an amount equal to the amount by which
the budgeted cost of such Alteration or Capital Improvement exceeds the Alteration Threshold: (A) cash, (B) cash equivalents, or (C) a Letter of Credit (the “Alteration Security”). On a monthly basis during the
construction of any such Alteration or Capital Improvement for which Alteration Security has been deposited, Tenant shall be entitled (either pursuant to a separate agreement to be entered into directly between Tenant and Fee Mortgagee, in form and
substance reasonably acceptable to Tenant, or, if no such agreement is entered into, then as an obligation of Landlord hereunder) to receive a portion of such Alteration Security, to be disbursed to Tenant (in the case of cash or cash equivalents)
or reduced (in the case of a Letter of Credit), as applicable, on a dollar-for-dollar basis, in the amount required to reimburse Tenant for (or to enable Tenant to pay)
the cost of such Alteration or Capital Improvement in amounts equal to the actual costs incurred by Tenant for such Alteration or Capital Improvement, subject to delivery by Tenant to Landlord of invoices related to the work performed, and subject:
(a) to compliance by Tenant with the applicable provisions of any Fee Mortgage Documents then in effect to the extent Tenant is required to comply therewith pursuant to Article XXXI hereof, and (b) in the event no Fee Mortgage then
exists and Landlord is holding the Alteration Security, to the condition that no Tenant Event of Default exist at the time of determination and subject to the other applicable provisions of this Article X. To the extent a construction
consultant is required by any Fee Mortgagee, Landlord shall have the right to select and engage (subject to any Fee Mortgagee requirements), at Landlord’s cost and expense, construction consultants to conduct inspections of the Leased
Property during the construction of any Material Capital Improvements, provided that (x) such inspections shall be conducted in a manner as to not unreasonably interfere with such construction or the operation of the Facility, (y) prior to
entering the Leased Property, such consultants shall deliver to Tenant evidence of insurance reasonably satisfactory to Tenant and (z) (irrespective of whether the consultant was engaged by Landlord, Tenant or otherwise) Landlord and Tenant shall be
entitled to receive copies of such consultants’ work product and shall have direct access to and communication with such consultants. 

10.2 Landlord Approval of Certain Alterations and Capital Improvements. If Tenant desires to make any Alteration or
Capital Improvement for which Landlord’s approval is required pursuant to Section 10.1 above, Tenant shall submit to Landlord in reasonable detail a general description of the proposal, the projected cost of the
applicable Work and such plans and specifications, permits, licenses, contracts and other information concerning the proposal as Landlord may reasonably request. Such description shall indicate the use or uses to which such Alteration or Capital
Improvement will be put and the impact, if any, on current and forecasted gross revenues and operating income attributable thereto. Landlord may condition any approval of any Alteration or Capital Improvement (including any Material Capital
Improvement), to the 

  
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extent required pursuant to Section 10.1 above, upon any or all of the following terms and conditions, to the extent reasonable under the circumstances: 

(a) the Work shall be effected pursuant to detailed plans and specifications approved by Landlord, which approval shall not be unreasonably
withheld, conditioned or delayed; 
 (b) the Work shall be conducted under the supervision of a licensed architect or engineer selected by
Tenant (the “Architect”) and, for purposes of this Section 10.2 only, approved by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed; 

(c) Landlord’s receipt from the general contractor and, if reasonably requested by Landlord, any major subcontractor(s) of a performance
and payment bond for the full value of such Work, which such bond shall name Landlord as an additional obligee and otherwise be in form and substance and issued by a Person reasonably satisfactory to Landlord; 

(d) Landlord’s receipt of reasonable evidence of Tenant’s financial ability to complete the Work without materially and adversely
affecting its cash flow position or financial viability; and 
 (e) such Alteration or Capital Improvement will not result in the Leased
Property becoming a “limited use” within the meaning of Revenue Procedure 2001-28 property for purposes of United States federal income taxes. 

10.3 Construction Requirements for Alterations and Capital Improvements. For any Alteration or Capital Improvement having
a budgeted cost in excess of Five Million and No/100 Dollars ($5,000,000.00) (and as otherwise expressly required under subsection (g) below), Tenant shall satisfy the following: 

(a) If and to the extent plans and specifications typically would be (or, in accordance with applicable Legal Requirements, are required to be)
obtained in connection with a project of similar scope and nature to such Alteration or Capital Improvement, Tenant shall, prior to commencing any Work in respect of the same, provide Landlord copies of such plans and specifications. Tenant shall
also supply Landlord with related documentation, information and materials relating to the Property in Tenant’s possession or control, including, without limitation, surveys, property condition reports and environmental reports, as Landlord may
reasonably request from time to time; 
 (b) No Work shall be commenced until Tenant shall have procured and paid for all municipal and
other governmental permits and authorizations required to be obtained prior to such commencement (if any), including those permits and authorizations required pursuant to any Gaming Regulations (if any), and, upon Tenant’s request, Landlord
shall join in the application for such permits or authorizations whenever such action is necessary; provided, however, that (i) any such joinder shall be at no cost or expense to Landlord; and (ii) any plans required to be
filed in connection with any such application which require the approval of Landlord as hereinabove provided shall have been so approved by Landlord; 

  
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 (c) Such Work shall not, and, if an Architect has been engaged for such Work, the Architect shall
certify to Landlord that such construction shall not, impair the structural strength of any component of the Facility or overburden the electrical, water, plumbing, HVAC or other building systems of any such component or otherwise violate applicable
building codes or prudent industry practices. 
 (d) If an Architect has been engaged for such Work and if plans and specifications have
been obtained in connection with such Work, the Architect shall certify to Landlord that the plans and specifications conform to, and comply with, in all material respects all applicable building, subdivision and zoning codes, laws, ordinances and
regulations imposed by all governmental authorities having jurisdiction over the Leased Property. 
 (e) During and following completion of
such Work, the parking and other amenities which are located on or at the Leased Property shall remain adequate for the operation of the Facility for its Primary Intended Use and not be less than that which is required by law (including any
variances with respect thereto) and any applicable Property Documents; provided, however, with Landlord’s prior consent, which approval shall not be unreasonably withheld, conditioned or delayed, and at no additional expense to
Landlord, (i) to the extent sufficient additional parking is not already a part of an Alteration or Capital Improvement, Tenant may construct additional parking on or at the Leased Property; or (ii) Tenant may acquire off-site parking to serve the Leased Property as long as such parking shall be reasonably proximate to, and dedicated to, or otherwise made available to serve, the Leased Property; 

(f) All Work done in connection with such construction shall be done promptly and using materials and resulting in work that is at least as
good product and condition as the remaining areas of the Leased Property and in conformity with all Legal Requirements, including, without limitation, any applicable minority or women owned business requirement; and 

(g) If applicable in accordance with customary and prudent industry standards, promptly following the completion of such Work, Tenant shall
deliver to Landlord “as built” plans and specifications with respect thereto, certified as accurate by the licensed architect or engineer selected by Tenant to supervise such work, and copies of any new or revised certificates of occupancy
or other licenses, permits and authorizations required in connection therewith. In addition, with respect to any Alteration or Capital Improvement having a budgeted cost equal to or less than Five Million and No/100 Dollars ($5,000,000.00), Tenant
shall endeavor in good faith to (and upon Landlord’s request will) deliver to Landlord any “as-built” plans and specifications actually obtained by Tenant in connection with such Alteration or
Capital Improvement. 
 10.4 Landlord’s Right of First Offer to Fund Material
Capital Improvements. 
 (a) Landlord’s Right to Submit Landlord’s MCI Financing Proposal. In advance of
commencing any Work in connection with any Material Capital Improvement (provided, for purposes of clarification, that preliminary planning, designing, budgeting, evaluating (including environmental and integrity testing and the like) (collectively,
“Preliminary Studies”), permitting and demolishing in preparation for such Material Capital Improvement shall not be considered 

  
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“commencing” for purposes hereof), Tenant shall provide written notice (“Tenant’s MCI Intent Notice”) of Tenant’s intent to do so, which notice shall be
accompanied by (i) a reasonably detailed description of the proposed Material Capital Improvement, (ii) the then-projected cost of construction of the proposed Material Capital Improvement, (iii) copies of the plans and
specifications, permits, licenses, contracts and Preliminary Studies concerning the proposed Material Capital Improvement, to the extent then-available, (iv) reasonable evidence that such proposed Material Capital Improvement will, upon
completion, comply with all applicable Legal Requirements, and (v) reasonably detailed information regarding the terms upon which Tenant is considering seeking financing therefor, if any. To the extent in Tenant’s possession or control,
Tenant shall provide to Landlord any additional information about such proposed Material Capital Improvements which Landlord may reasonably request. Landlord (or, with respect to financing structured as a loan rather than as ownership of the real
property by Landlord with a lease back to Tenant, Landlord’s Affiliate) may, but shall be under no obligation to, provide all or any portion of the financing necessary to fund the applicable Material Capital Improvement (along with related fees
and expenses, such as title fees, costs of permits, legal fees and other similar transaction costs) by complying with the option exercise requirements set forth below. Within thirty (30) days of receipt of Tenant’s MCI Intent Notice,
Landlord shall notify Tenant in writing as to whether Landlord (or, if applicable, its Affiliate) is willing to provide financing for such proposed Material Capital Improvement and, if so, the terms and conditions upon which Landlord (or, if
applicable, its Affiliate) is willing to do so in reasonable detail, in the form of a proposed term sheet (such terms and conditions, “Landlord’s MCI Financing Proposal”). Upon receipt, Tenant shall have ten (10) days to
accept, reject or commence negotiating Landlord’s MCI Financing Proposal. 
 (b) If Tenant Accepts Landlord’s MCI Financing
Proposal. If Tenant accepts Landlord’s MCI Financing Proposal (either initially or, after negotiation, a modified version thereof) (an “Accepted MCI Financing Proposal”) and such financing is actually consummated
between Tenant and Landlord (or, if applicable, its Affiliate) as more particularly provided in Section 10.4(f) below (a “Landlord MCI Financing”), then, as and when constructed, such Material Capital Improvement shall be
deemed part of the Leased Property for all purposes except as specifically provided in Section 6.1(b) hereof (and, without limitation, such Material Capital Improvements shall be surrendered to (and all rights therein shall be relinquished in
favor of) Landlord upon the Expiration Date). 
 (c) If Landlord Declines to Make Landlord’s MCI Financing Proposal. If
Landlord declines or fails to timely submit Landlord’s MCI Financing Proposal, Tenant shall be permitted to either (1) use then-existing available financing or, subject to Article XVII, enter into financing arrangements with any
lender, preferred equity holder and/or other third-party financing source (a “Third-Party MCI Financing”) for such Material Capital Improvement or (2) use Cash to pay for such
Material Capital Improvement, provided, that if Tenant has not used then-existing, or entered into a new, Third-Party MCI Financing (or commenced such Material Capital Improvement utilizing Cash) by the
date that is nine (9) months following delivery of Tenant’s MCI Intent Notice, then, prior to entering into any such Third-Party MCI Financing and/or commencing such Material Capital Improvement,
Tenant shall again be required to send Tenant’s MCI Intent Notice seeking financing from Landlord (on the terms contemplated by this Section 10.4). 

  
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 (d) If Tenant Declines Landlord’s MCI Financing Proposal. If Landlord timely
submits Landlord’s MCI Financing Proposal and Tenant rejects or fails to accept or commence negotiating Landlord’s MCI Financing Proposal within the applicable 10-day period (or, following commencing
negotiating said proposal, Tenant notifies Landlord of Tenant’s decision to cease such discussions), then, subject to the remaining terms of this paragraph, Tenant shall be permitted to either (1) use then-existing, or, subject to
Article XVII, enter into a new, Third-Party MCI Financing for such Material Capital Improvement (subject to the following proviso) or (2) use Cash to pay for such Material Capital Improvement,
provided, that Tenant may not use then-existing, or enter into a new, Third-Party MCI Financing, except in each case on terms that are, taken as a whole, economically more advantageous to Tenant than
those offered under Landlord’s MCI Financing Proposal. In determining if financing is economically more advantageous, consideration may be given to, among other items, (x) pricing, amortization, length of term and duration of
commitment period of such financing; (y) the cost, availability and terms of any financing sufficient to fund such Material Capital Improvement and other expenditures which are material in relation to the cost of such Material Capital
Improvement (if any) which are intended to be funded in connection with the construction of such Material Capital Improvement and which are related to the use and operation of such Material Capital Improvement and (z) other customary
considerations. Tenant shall provide Landlord with reasonable evidence of the terms of any such financing. If Tenant has not used then-existing, or entered into a new, Third-Party MCI Financing (or commenced
such Material Capital Improvement utilizing Cash) by the date that is nine (9) months following receipt of Landlord’s MCI Financing Proposal, then, prior to entering into any such Third-Party MCI
Financing and/or commencing such Material Capital Improvement after such nine (9) month period, Tenant shall again be required to send Tenant’s MCI Intent Notice seeking financing from Landlord (on the terms contemplated by this
Section 10.4). For purposes of clarification, Tenant may use Cash to finance any applicable Material Capital Improvement (subject to the express terms and conditions hereof, including, without limitation, Tenant’s
obligation to provide Tenant’s MCI Intent Notice). 
 (e) Ownership of Material Capital Improvements Not Financed by
Landlord. If Tenant constructs a Material Capital Improvement utilizing Third-Party MCI Financing or Cash in accordance with Sections 10.4(c) or (d) (such Material Capital
Improvement being sometimes referred to in this Lease as a “Tenant Material Capital Improvement”), then, (A) as and when constructed, such Material Capital Improvement shall be deemed part of the Leased Property for all
purposes except as specifically provided in Section 6.1(b) hereof, (B) upon any termination of this Lease prior to the Stated Expiration Date as a result of a Tenant Event of Default (except in the event a Permitted Leasehold Mortgagee
has exercised its right to obtain a New Lease and complies in all respects with Section 17.1(f) and any other applicable provisions of this Lease), such Material Capital Improvements shall be owned by Landlord without any reimbursement by
Landlord to Tenant, and, (C) upon the Stated Expiration Date, such Material Capital Improvements shall be transferred to Tenant; provided, however, upon written notice to Tenant at least one hundred eighty (180) days prior to
the Stated Expiration Date, Landlord shall have the option to reimburse Tenant for such Tenant Material Capital Improvements in an amount equal to the Fair Market Ownership Value thereof, and, if Landlord elects to reimburse Tenant for such Tenant
Material Capital Improvements, any amount due to Tenant for such reimbursement shall be credited against any amounts owed by Tenant to Landlord under this Lease as of the Stated Expiration Date and any remaining portion of such amount shall be paid

  
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by Landlord to Tenant on the Stated Expiration Date. If Landlord fails to deliver such written notice electing to reimburse Tenant for such Tenant Material Capital Improvements at least one
hundred eighty (180) days prior to the Stated Expiration Date, or otherwise does not consummate such reimbursement at least sixty (60) days prior to the Stated Expiration Date (other than as a result of Tenant’s acts or omissions in
violation of this Lease), then Landlord shall be deemed to have elected not to reimburse Tenant for such Tenant Material Capital Improvements. If Landlord elects or is deemed to have elected not to reimburse Tenant for such Tenant Material Capital
Improvements in accordance with the foregoing sentence, Tenant shall have the option to either (1) prior to the Stated Expiration Date, remove such Tenant Material Capital Improvements and restore the affected Leased Property to the same or
better condition existing prior to such Tenant Material Capital Improvement being constructed, at Tenant’s sole cost and expense, in which event such Tenant Material Capital Improvements shall be owned by Tenant, or (2) leave the
applicable Tenant Material Capital Improvements at the Leased Property at the Stated Expiration Date, at no cost to Landlord, in which event such Tenant Material Capital Improvements shall be owned by Landlord. 

(f) Landlord MCI Financing. In the event of an Accepted MCI Financing Proposal, Tenant shall provide Landlord with the following
prior to any advance of funds under such Landlord MCI Financing: 
 (i) any information, certificates, licenses, permits or
documents reasonably requested by Landlord which are necessary and obtainable to confirm that Tenant will be able to use the Material Capital Improvements upon completion thereof in accordance with the Primary Intended Use, including all required
federal, state or local government licenses and approvals; 
 (ii) an officer’s certificate and, if requested, a
certificate from Tenant’s Architect providing appropriate backup information, setting forth in reasonable detail the projected or actual costs related to such Material Capital Improvements; 

(iii) except to the extent covered by the amendment referenced in clause (iv) below, a construction loan and/or funding
agreement (and such other related instruments and agreements), in a form reasonably agreed to by Landlord and Tenant, reflecting the terms of the Landlord MCI Financing, setting forth the terms of the Accepted MCI Financing Proposal, and without
additional requirements on Tenant (including, without limitation, additional bonding or guaranty requirements) except those which are reasonable and customary and consistent in all respects with this Section 10.4 and the terms of the Accepted
MCI Financing Proposal; 
 (iv) except to the extent covered by the construction loan and/or funding agreement referenced in
clause (iii) above, an amendment to this Lease, in a form reasonably agreed to by Landlord and Tenant, which may include, among other things, an increase in the Rent (in amounts as agreed upon by the Parties pursuant to the Accepted MCI
Financing Proposal), and other provisions as may be necessary or appropriate; 
 (v) a deed conveying title to Landlord to
any additional Land acquired for the purpose of constructing the Material Capital Improvement, free and clear of any liens or 

  
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encumbrances except those approved by Landlord, and accompanied by (x) an owner’s policy of title insurance insuring the Fair Market Ownership Value of fee simple or leasehold (as
applicable) title to such Land and any improvements thereon, free of any exceptions other than liens and encumbrances that do not materially interfere with the intended use of the Leased Property or are otherwise approved by Landlord, which approval
shall not be unreasonably withheld, conditioned or delayed, and (y) an ALTA survey thereof; 
 (vi) if Landlord obtains
a lender’s policy of title insurance in connection with such Landlord MCI Financing, for each advance, endorsements to any such policy of title insurance reasonably satisfactory in form and substance to Landlord (i) updating the same
without any additional exception except those that do not materially affect the value of such land and do not interfere with the intended use of the Leased Property, or as may otherwise be permitted under this Lease, or as may be approved by
Landlord, which approval shall not be unreasonably withheld, conditioned or delayed, and (ii) increasing the coverage thereof by an amount equal to the then-advanced cost of the Material Capital Improvement; and 

(vii) such other billing statements, invoices, certificates, endorsements, opinions, site assessments, surveys, resolutions,
ratifications, lien releases and waivers and other instruments and information which are reasonable and customary and consistent in all respects with this Section 10.4 and the terms of the Accepted MCI Financing Proposal.

 In the event that (1) Tenant is unable, for reasons beyond Tenant’s reasonable control, to satisfy any of the requirements set forth in this
Section 10.4(f) (and Landlord is unable or unwilling to waive the same), (2) Landlord and Tenant are unable (despite good faith efforts continuing for at least sixty (60) days after agreement on the Accepted MCI Financing Proposal)
to agree on any of the requirements of, or the form of any document required under, this Section 10.4(f), or (3) Landlord fails or refuses to consummate the Landlord MCI Financing and/or advance funds thereunder, then, notwithstanding
anything to the contrary in this Section 10.4, Tenant shall be entitled to use then-existing, or, subject to Article XVII, enter into a new, Third-Party MCI Financing for such
Material Capital Improvement or use Cash to pay for such Material Capital Improvement, without any requirement to send a further Tenant’s MCI Intent Notice to Landlord, provided, that such Material Capital Improvement shall be treated hereunder
as a Tenant Material Capital Improvement, unless the circumstances described in clause (1) shall have occurred. 
 10.5
Minimum Capital Expenditures. 
 (a) Minimum Capital Expenditures. 

(i) Annual Minimum Cap Ex Requirement. During each full Fiscal Year during the Term, commencing upon the first
(1st) full Fiscal Year during the Term, measured as of the last day of each such Fiscal Year, on a collective basis for CEOC and its subsidiaries, Tenant and Other Tenants shall expend Capital Expenditures and Other Capital Expenditures in an
aggregate amount equal to no less than the Annual Minimum Cap Ex Amount (the “Annual Minimum Cap Ex Requirement”). 

  
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 (ii) Annual Minimum Per-Lease
B&I Cap Ex Requirement. During each full Fiscal Year during the Term, commencing upon the first (1st) full Fiscal Year during the Term, measured as of the last day of each such Fiscal Year, Tenant shall expend Capital Expenditures with
respect to the Leased Property in an aggregate that, when combined with the amount of Non-CPLV Capital Expenditures expended with respect to the Non-CPLV Leased
Property, is equal to at least one percent (1%) of the sum of (a) the Net Revenue from the Facility for the prior Fiscal Year plus (b) the Net Revenue (as defined in the Non-CPLV Lease) from the Non-CPLV Facility for the prior Fiscal Year, on Capital Expenditures and Non-CPLV Capital Expenditures that, in each case, constitute installation or restoration and repair or
other improvements of items with respect to (x) the Leased Property under this Lease and (y) the Non-CPLV Leased Property under the Non-CPLV Lease (the
“Annual Minimum Per-Lease B&I Cap Ex Requirement”). In the event of expiration, cancellation or termination of any Ground Lease for any reason whatsoever whether voluntary or involuntary
(by operation of law or otherwise), except for a cancellation or termination due to Landlord’s failure to extend the term thereof where Landlord was required to do so hereunder, prior to the expiration date of this Lease, including extensions
and renewals granted thereunder, then, for purposes of calculating the amount of Net Revenue from the Facility for determining the Annual Minimum Per-Lease B&I Cap Ex Requirement, the Net Revenue
attributable to the portion of the Leased Property subject to such Ground Lease for the Lease Year immediately prior to such expiration, cancellation or termination of such Ground Lease thereafter shall continue to be included in the calculation of
Net Revenue (except to the extent such Ground Lease is replaced by a replacement Ground Lease for all or substantially all of such portion of the Leased Property). 

(iii) Triennial Minimum Cap Ex Requirement A. During each full Triennial Period during the Term, commencing upon
the first (1st) full Triennial Period during the Term, measured as of the last day of each such Triennial Period, on a collective basis for CEOC and its subsidiaries, Tenant and Other Tenants shall expend Capital Expenditures and Other Capital
Expenditures in an aggregate amount equal to no less than the Triennial Minimum Cap Ex Amount A (the “Triennial Minimum Cap Ex Requirement A”). 

(iv) Triennial Minimum Cap Ex Requirement B. During each full Triennial Period during the Term, commencing upon
the first (1st) full Triennial Period during the Term, measured as of the last day of each such Triennial Period, Tenant shall expend Capital Expenditures in an aggregate amount that, when combined with the amount of
Non-CPLV Capital Expenditures expended by Other Tenants under the Non-CPLV Lease, is equal to no less than the greater of (a) the amount which, when added to the
amount of Other Capital Expenditures (other than Non-CPLV Capital Expenditures) expended by the Other Tenants (other than the Other Tenants under the Non-CPLV Lease)
toward the Triennial Minimum Cap Ex Requirement B (as defined in the Other Leases) during the same time period, equals the Triennial Minimum Cap Ex Amount B, but in no event more than the Triennial Allocated Minimum Cap Ex Amount B Ceiling, and
(b) the Triennial Allocated Minimum Cap Ex Amount B Floor (the “Triennial Minimum Cap Ex Requirement B”). 

  
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 (v) Partial Periods. If the initial or final portion of the Term of
this Lease is a partial calendar year (i.e., the Commencement Date of this Lease is other than January 1 or the Expiration Date is other than December 31, as applicable; any such partial calendar year, a “Stub Period”),
then the Triennial Minimum Cap Ex Amount A and Triennial Minimum Cap Ex Amount B shall be adjusted as follows: (a) the initial (or final, as applicable) Triennial Period under this Lease shall be expanded so that it covers both the Stub Period
and the first (1st) (or final, as applicable) full period of three calendar years during the Term, (b) the Triennial Minimum Cap Ex Amount A for such expanded initial (or final, as applicable) Triennial Period shall be equal to (x) Four
Hundred Ninety-Five Million and No/100 Dollars ($495,000,000.00), plus (y) the product of the Stub Period Multiplier (as defined below) multiplied by One Hundred Sixty-Five Million and No/100 Dollars ($165,000,000.00) (and (i) the Services
Co Capital Expenditures allocated by Services Co to Tenant or CEOC during such expanded initial (or final, as applicable) Triennial Period shall not exceed (x) Seventy-Five Million and No/100 Dollars ($75,000,000.00) plus (y) the product
of the Stub Period Multiplier multiplied by Twenty Five Million and No/100 Dollars ($25,000,000.00), and (ii) the Capital Expenditures in respect of the London/Chester Properties during such expanded initial (or final, as applicable) Triennial
Period shall not exceed (x) Thirty Million and No/100 Dollars ($30,000,000.00) plus (y) the product of the Stub Period Multiplier multiplied by Ten Million and No/100 Dollars ($10,000,000.00)), (c) the Triennial Minimum Cap Ex Amount B for
such expanded initial (or final, as applicable) Triennial Cap Ex Calculation Period shall be equal to (x) Three Hundred Fifty Million and No/100 Dollars ($350,000,000.00), plus (y) the product of the Stub Period Multiplier multiplied by
One Hundred Sixteen Million Six Hundred Sixty-Six Thousand Six Hundred Sixty-Six and No/100 Dollars ($116,666,666.00), and (d) the Triennial Allocated Minimum Cap
Ex Amount B Floor for such expanded initial (or final, as applicable) Triennial Period shall remain unchanged from the amounts then in effect. Notwithstanding the foregoing, in the event that (1) the Triennial Minimum Cap Ex Amount A is reduced
in accordance with the definition thereof, then (A) the Four Hundred Ninety-Five Million and No/100 Dollars ($495,000,000.00) in the foregoing clause (b)(x) shall be modified to reflect the Triennial Minimum Cap Ex Amount A then in effect at
the time of determination and (B) the One Hundred Sixty-Five Million and No/100 Dollars ($165,000,000.00) in the foregoing clause (b)(y) shall be modified to reflect the Triennial Minimum Cap Ex Amount A then in effect divided by three (3), and
(2) the Triennial Minimum Cap Ex Amount B is reduced in accordance with the definition thereof, then (A) the Three Hundred Fifty Million and No/100 Dollars ($350,000,000.00) in the foregoing clause (c)(x) shall be modified to reflect the
Triennial Minimum Cap Ex Amount B then in effect at the time of determination and (B) the One Hundred Sixteen Million Six Hundred Sixty-Six Thousand Six Hundred
Sixty-Six and No/100 Dollars ($116,666,666.00) in the foregoing clause (c)(y) shall be modified to reflect the Triennial Minimum Cap Ex Amount B then in effect divided by three (3). The term “Stub
Period Multiplier” means a fraction, expressed as a percentage, the numerator of which is the number of days occurring in a Stub Period, and the denominator of which is three hundred sixty-five (365). For the avoidance of doubt, if the
Expiration Date of this Lease is other than the 

  
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last day of a Fiscal Year, then Tenant’s compliance with each of the Minimum Cap Ex Requirements during the applicable periods preceding such Expiration Date that would otherwise end after
such Expiration Date shall be measured as of such Expiration Date and be subject to the prorations set forth above. 
 (vi)
Acquisitions of Material Property. If any real property having a value greater than Fifty Million and No/100 Dollars ($50,000,000.00) is acquired by Landlord or its Affiliate and included in this Lease or an Other Lease as part of the
Leased Property or Other Leased Property (as applicable), then the Minimum Cap Ex Requirements shall be adjusted as may be agreed upon by Landlord and Tenant in connection with such acquisition and the inclusion of such property as Leased Property
or Other Leased Property hereunder or thereunder. 
 (vii) Dispositions of Material Property. In the event of a
termination of this Lease or partial or total termination of an Other Lease or the disposition of any Material Leased Property or Material London/Chester Property, in each case for which the Minimum Cap Ex Amounts are to be decreased in accordance
herewith, and such termination or disposition occurs on any day other than the first (1st) day of a Fiscal Year, then, for purposes of determining Required Capital Expenditures and adjusting the Minimum Cap Ex Requirements, as applicable, such
termination or disposition and the associated reduction in the Minimum Cap Ex Requirements each shall be deemed to have occurred on the first (1st) day of the then-current Fiscal Year, such that Capital Expenditures with respect to the applicable
terminated or disposed property shall not be counted toward the calculation of Required Capital Expenditures for such entire Fiscal Year, and the Minimum Cap Ex Requirements shall be adjusted (as applicable) to reflect such termination or
disposition as applicable and the associated reduction in the Minimum Cap Ex Requirements for such entire Fiscal Year. 

(viii) Application of Capital Expenditures. For the avoidance of doubt: (A) Required Capital Expenditures
counted toward satisfying one of the Minimum Cap Ex Requirements also shall count (to the extent applicable) toward satisfying the other Minimum Cap Ex Requirements to the extent otherwise provided herein; (B) expenditures with respect to any
property that is not included as Leased Property or Other Leased Property under this Lease or an Other Lease (as applicable) shall not constitute “Capital Expenditures” nor count toward the Minimum Cap Ex Requirements for purposes of the
Leased Property Tests; (C) expenditures with respect to any property acquired by CEOC or its subsidiaries after the Commencement Date which is not included as Leased Property or Other Leased Property under this Lease or an Other Lease (as
applicable) shall not constitute “Capital Expenditures” nor count toward the Minimum Cap Ex Requirements for purposes of the Leased Property Tests or the All Property Tests, and (D) expenditures with respect to any property (other
than the London/Chester Properties) which is not included as Leased Property or Other Leased Property under this Lease or an Other Lease (as applicable) shall not constitute “Capital Expenditures” or count towards the Minimum Cap Ex
Requirements for purposes of the All Property Tests. 

  
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 (ix) Unavoidable Delays. In the event an Unavoidable Delay occurs
during any full Fiscal Year or full Triennial Period during the Term that delays Tenant’s or CEOC’s ability to perform Capital Expenditures prior to the expiration of such period, the applicable period for satisfying the Minimum Cap Ex
Requirements applicable to such Fiscal Year or Triennial Period (as applicable) during which such Unavoidable Delay occurred shall be extended, on a day-for-day basis,
for the same amount of time that such Unavoidable Delay affects Tenant’s or CEOC’s ability to perform the Capital Expenditures, up to a maximum extension in each instance of one (1) Fiscal Year (for the Annual Minimum Cap Ex
Requirement and the Annual Minimum Per-Lease B&I Cap Ex Requirement) or one (1) Triennial Period (for the Triennial Minimum Cap Ex Requirement A and the Triennial Minimum Cap Ex Requirement B). For
the avoidance of doubt, Tenant’s obligation to satisfy the Minimum Cap Ex Requirements during any period during which an Unavoidable Delay did not occur shall not be extended as a result of the occurrence of an Unavoidable Delay during a prior
period. 
 (x) Certain Remedies. The Parties acknowledge that Tenant’s agreement to satisfy the Minimum
Cap Ex Requirements as required in this Lease is a material inducement to Landlord’s agreement to enter into this Lease, the MLSA and the other Lease/MLSA Related Agreements and, accordingly, if Tenant fails to expend Capital Expenditures (or
deposit funds into the Cap Ex Reserve) as and when required by this Lease and then, further, fails to cure such failure within sixty (60) days of receipt of written notice of such failure from Landlord, then the same shall be a Tenant Event of
Default hereunder, and without limitation of any of Landlord’s other rights and remedies, Landlord shall have the right to seek the remedy of specific performance to require Tenant to expend the Required Capital Expenditures (or deposit funds
into the Cap Ex Reserve). Furthermore, for the avoidance of doubt, and without limitation of Guarantor’s obligations under the MLSA (and as more particularly provided therein), Tenant acknowledges and agrees that the obligation of Tenant to
expend the Required Capital Expenditures (or deposit funds into the Cap Ex Reserve) as provided in this Lease in each case constitutes a part of the monetary obligations of Tenant that are guaranteed by the Guarantor under the MLSA and, with respect
to Required Capital Expenditures required to be spent during the Term, shall survive termination of this Lease. 
 (b) Cap Ex
Reserve. 
 (i) Deposits in Lieu of Expenditures. Notwithstanding anything to the contrary set forth in this
Lease, if Tenant and Other Tenants do not expend Capital Expenditures and Other Capital Expenditures sufficient to satisfy the Minimum Cap Ex Requirements, then, so long as, as of the last date when such Minimum Cap Ex Requirements may be satisfied
hereunder, there are Cap Ex Reserve Funds (as defined below) and Cap Ex Reserve Funds (as defined in each Other Lease) on deposit in the Cap Ex Reserve (as defined below) or in the Cap Ex Reserve (as defined in each Other Lease) in an aggregate
amount at least equal to such deficiency, then Tenant shall not be deemed to be in breach or default of its obligations hereunder to satisfy the Minimum Cap Ex Requirements, provided that Tenant (or Other Tenants, as applicable), shall spend such
amounts so deposited in the Cap Ex Reserve (as defined herein or in an Other Lease, as applicable) within six (6) months after the last date when the Minimum Cap Ex 

  
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Requirements to which such amounts relate may be satisfied hereunder (subject to extension in the event of an Unavoidable Delay during such six (6) month period, on a day-for-day basis, for the same amount of time that such Unavoidable Delay affects Tenant’s ability to perform the Capital Expenditures). For the avoidance of doubt, any
funds disbursed from the Cap Ex Reserve and spent on Capital Expenditures as described in this Section shall be applied to the Minimum Cap Ex Requirements for the period for which such funds were deposited (and shall be deemed to be the funds that
have been in the Cap Ex Reserve for the longest period of time) and shall not be applied to the Minimum Cap Ex Requirements for the subsequent period in which they are actually spent. 

(ii) Deposits into Cap Ex Reserve. Tenant may, at its election, at any time, deposit funds (the “Cap Ex Reserve
Funds”) into an Eligible Account held by Tenant (the “Cap Ex Reserve”). If required by Fee Mortgagee, Landlord and Tenant shall (and, if applicable, Tenant shall cause Manager to) enter into a customary and reasonable
control agreement for the benefit of Fee Mortgagee and Landlord with respect to the Cap Ex Reserve. Tenant shall not commingle Cap Ex Reserve Funds with other monies held by Tenant or any other party. All interest on Cap Ex Reserve Funds shall be
for the benefit of Tenant and added to and become a part of the Cap Ex Reserve and shall be disbursed in the same manner as other monies deposited in the Cap Ex Reserve. Tenant shall be responsible for payment of any federal, state or local income
or other tax applicable to the interest earned on the Cap Ex Reserve Funds credited or paid to Tenant. 
 (iii)
Disbursements from Cap Ex Reserve. Tenant shall be entitled to use Cap Ex Reserve Funds solely for the purpose of paying for (or reimbursing Tenant for) the cost of Capital Expenditures. Subject to compliance by Tenant with the provisions of
the Fee Mortgage Documents to the extent Tenant is required to comply therewith pursuant to Article XXXI hereof, Landlord shall permit disbursements to Tenant of Cap Ex Reserve Funds from the Cap Ex Reserve to pay for Capital Expenditures or
to reimburse Tenant for Capital Expenditures, within ten (10) days following written request from Tenant, which request shall specify the amount of the requested disbursement and a general description of the type of Capital Expenditures to be
paid or reimbursed using such Cap Ex Reserve Funds. Tenant shall not make a request for disbursement from the Cap Ex Reserve (x) more frequently than once in any calendar month nor (y) in amounts less than Fifty Thousand and No/100 Dollars
($50,000.00). Any Cap Ex Reserve Funds remaining in the Cap Ex Reserve on satisfaction of the Minimum Cap Ex Requirements for which such Cap Ex Reserve Funds were deposited or on the Expiration Date shall be returned by Landlord to Tenant, provided
that Landlord shall have the right to apply Cap Ex Reserve Funds remaining on the Expiration Date against any amounts owed by Tenant to Landlord as of the Expiration Date and/or the sum of any remaining Required Capital Expenditures required to have
been incurred prior to the Expiration Date. 
 (iv) Security Interest in Cap Ex Reserve Funds. Tenant grants to
Landlord a first-priority security interest in the Cap Ex Reserve and all Cap Ex Reserve Funds, as additional security for performance of Tenant’s obligations under this Lease. Landlord shall have the right to collaterally assign the security
interest granted to Landlord in the Cap Ex Reserve and Cap Ex Reserve Funds to any Fee Mortgagee. Notwithstanding the 

  
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foregoing or anything herein to the contrary, (i) Landlord may not foreclose upon the lien on the Cap Ex Reserve and Cap Ex Reserve Funds, and Fee Mortgagee may not apply the Cap Ex Reserve
Funds against the Fee Mortgage, in each case prior to the occurrence of both (x) Landlord’s Enforcement Condition and (y) the termination of this Lease by Landlord pursuant to Section 16.2(x) hereof, (ii) any time during
which a Tenant Event of Default is continuing, Fee Mortgagee may apply Cap Ex Reserve Funds toward the payment of Capital Expenditures incurred by Tenant, and (iii) Landlord shall have the right to use Cap Ex Reserve Funds as provided in
Section 10.5(e) (in which event, such expenditures of Cap Ex Reserve Funds shall be deemed Capital Expenditures of Tenant for purposes of the Required Capital Expenditures). Landlord acknowledges that a Permitted Leasehold Mortgagee may have a Lien
on the Cap Ex Reserve, provided that such Lien in favor of a Permitted Leasehold Mortgagee is subject and subordinate to the first priority lien thereon in favor of Landlord as set forth in the Intercreditor Agreement. 

(c) Capital Expenditures Report. Within thirty (30) days after the end of each calendar month during the Term, Tenant shall
submit to Landlord a report, substantially in the form attached hereto as Exhibit C setting forth, with respect to such month, on an unaudited,
Facility-by-Facility basis, (A) revenues for the Leased Property and the Other Leased Property, (B) Capital Expenditures with respect to the Leased Property,
(C) Other Capital Expenditures with respect to the Other Leased Property, and (D) aggregate Services Co Capital Expenditures on a year-to-date basis and the
portion thereof allocated to CEOC, Tenant and its subsidiaries (and a description of the methodology by which such allocation was made). Landlord shall keep each such report confidential in accordance with
Section 41.22 of this Lease. 
 (d) Annual Capital Budget. Tenant shall furnish to Landlord, for
informational purposes only, a copy of the annual capital budget for the Facility for each Fiscal Year, in each case (x) contemporaneously with Other Tenant’s delivery to the applicable landlord of the applicable annual capital budget for
such Fiscal Year pursuant to the Other Lease, and (y) not later than fifty-five (55) days following the commencement of the Fiscal Year to which such annual capital budget relates. For the avoidance of doubt, without limitation of
Tenant’s Capital Expenditure requirements pursuant to Section 10.5(a), Tenant shall not be required to comply with such annual capital budget and it shall not be a breach or default by Tenant hereunder in the event Tenant deviates from
such annual capital budget. 
 (e) Self Help. In order to facilitate Landlord’s completion of any work, repairs or
restoration of any nature that are required to be performed by Tenant in accordance with any provisions hereof, upon the occurrence of the earlier of (i) an Event of Default by Tenant hereunder, and (ii) any default by Tenant in the
performance of such work under this Lease or as required by any applicable Additional Fee Mortgage Requirement, then, so long as (x) Landlord has provided Tenant thirty (30) days’ prior written notice thereof and Tenant has not cured
such default within such thirty day period) and (y) an “Event of Default” has occurred under the Fee Mortgage Documents, Landlord shall have the right, from and after the occurrence of a default beyond applicable notice and cure
periods under any applicable Fee Mortgage Documents, to enter onto the Leased Property and perform any and all such work and labor necessary as reasonably determined by Landlord to complete any work required by Tenant hereunder or expend any sums
therefor and/or employ watchmen to protect the Leased Property from damage (collectively, the “Landlord Work”). In connection with the foregoing, Landlord shall have the 

  
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right: (i) to use any funds in the Cap Ex Reserve for the purpose of making or completing such Landlord Work; (ii) to employ such contractors, subcontractors, agents, architects and
inspectors as shall be required for such purposes; (iii) to pay, settle or compromise all existing bills and claims which are or may become Liens against the Leased Property, or as may be necessary or desirable for the completion of such
Landlord Work, or for clearance of title; (iv) to execute all applications and certificates in the name of Tenant which may be required by any of the contract documents; (v) to prosecute and defend all actions or proceedings in connection
with the Leased Property or the rehabilitation and repair of the Leased Property; and (vi) to do any and every act which Tenant might do in its own behalf to complete the Landlord Work. Nothing in this Lease shall: (1) make Landlord
responsible for making or completing any Landlord Work; (2) require Landlord to expend funds in addition to the Cap Ex Reserve to make or complete any Landlord Work; (3) obligate Landlord to proceed with any Landlord Work; or
(4) obligate Landlord to demand from Tenant additional sums to make or complete any Landlord Work. 
 ARTICLE XI 

LIENS 
 (a) Subject to the
provisions of Article XII relating to permitted contests, Tenant will not directly or indirectly create or allow to remain and will promptly discharge at its expense any lien, encumbrance, attachment, title retention agreement or claim upon
the Leased Property or any portion thereof or any attachment, levy, claim or encumbrance in respect of the Rent, excluding, however, (i) this Lease; (ii) the matters that existed as of the Commencement Date with respect to the Leased
Property or any portion thereof; (iii) restrictions, liens and other encumbrances which are consented to in writing by Landlord (such consent not to be unreasonably withheld, conditioned or delayed); (iv) liens for Impositions which Tenant
is not required to pay hereunder (if any); (v) Subleases permitted by Article XXII and any other lien or encumbrance expressly permitted under the provisions of this Lease; (vi) liens for Impositions not yet delinquent or being
contested in accordance with Article XII, provided that Tenant has provided appropriate reserves to the extent required under GAAP and any foreclosure or similar remedies with respect to such Impositions have not been instituted and no
notice as to the institution or commencement thereof has been issued except to the extent such institution or commencement is stayed no later than twenty (20) days after such notice is issued; (vii) liens of mechanics, laborers,
materialmen, suppliers or vendors for sums either disputed or not yet due, provided that (1) the payment of such sums shall not be postponed under any related contract for more than sixty (60) days after the completion of the action
giving rise to such lien unless being contested in accordance with Article XII and such reserve or other appropriate provisions as shall be required by law or GAAP shall have been made therefor and no foreclosure or similar remedies with
respect to such liens has been instituted and no notice as to the institution or commencement thereof have been issued except to the extent such institution or commencement is stayed no later than twenty (20) days after such notice is issued;
(2) any such liens are in the process of being contested as permitted by Article XII; or (3) in the event any foreclosure action is commenced under any such lien, Tenant shall immediately remove, discharge or bond over such lien;
(viii) any liens created by Landlord; (ix) liens related to equipment leases or equipment financing for Tenant’s Property which are used or useful in Tenant’s business on the Leased Property or any portion thereof,
provided that the payment of any sums due under such equipment leases or equipment financing shall either (1) be paid as and when due in accordance 

  
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with the terms thereof, or (2) be in the process of being contested as permitted by Article XII (and provided that a lienholder’s removal of any such Tenant’s Property from
the Leased Property shall be subject to all applicable provisions of this Lease, and, without limitation, Tenant or such lienholder shall restore the Leased Property from any damage effected by such removal); (x) liens granted as security for
the obligations of Tenant and its Affiliates under a Permitted Leasehold Mortgage (and the documents relating thereto); provided, however, in no event shall the foregoing be deemed or construed to permit Tenant to encumber the
Leasehold Estate (or a Subtenant to encumber its subleasehold interest) in the Leased Property or any portion thereof (other than, in each case, to a Permitted Leasehold Mortgagee or otherwise to the extent expressly permitted hereunder), without
the prior written consent of Landlord, which consent may be granted or withheld in Landlord’s sole discretion; and provided further that upon request Tenant shall be required to provide Landlord with fully executed copies of any
and all Permitted Leasehold Mortgages; and (xi) except as otherwise expressly provided in this Lease, easements, rights-of-way, restrictions (including zoning
restrictions), covenants, encroachments, protrusions and other similar charges or encumbrances, and minor title deficiencies on or with respect to the Leased Property or any portion thereof, in each case whether now or hereafter in existence, not
individually or in the aggregate materially interfering with the conduct of the business on the Leased Property for the Primary Intended Use, taken as a whole. For the avoidance of doubt, nothing contained herein shall be deemed or construed to
prohibit the issuance of a lien on the Equity Interests in Tenant (it being agreed that any foreclosure by a lien holder on such interests in Tenant shall be subject to the restrictions on transfers of interests in Tenant and Change of Control set
forth in Article XXII) or to prohibit Tenant from pledging (A) its Tenant’s Property as collateral (1) in connection with financings of equipment and other purchase money indebtedness or (2) to secure
Permitted Leasehold Mortgages, or (B) its Accounts and other property of Tenant (other than Tenant’s Property); provided that, (x) all such pledges (other than those described in the foregoing clause (1)) of Tenant’s
Pledged Property shall be subject and subordinate to the security interest granted to Landlord pursuant to Section 6.3, and (y) Tenant shall in no event pledge to any Person that is not granted a Permitted Leasehold
Mortgage hereunder any of Tenant’s Property to the extent that such Tenant’s Property cannot be removed from the Leased Property without (I) damaging or impairing the Leased Property (other than in a de minimis manner), (II) impairing
in any material respect the operation of the Facility for its Primary Intended Use, or (III) impairing in any material respect Landlord’s or any Successor Tenant’s ability to acquire the Successor Assets at the expiration or
termination of the Term in accordance with Section 36.1 (after giving effect to the repayment of any indebtedness encumbering the Successor Assets and release of any liens thereon as required by such
Section 36.1). 
 ARTICLE XII 

PERMITTED CONTESTS 

Tenant, upon prior written notice to Landlord (except that no such notice shall be required to be given by Tenant to Landlord with respect to
matters not exceeding Five Million and No/100 Dollars ($5,000,000.00)), on its own or in Landlord’s name, at Tenant’s expense, may contest, by appropriate legal proceedings conducted in good faith and with due diligence, the amount,
validity or application, in whole or in part, of any licensure or certification decision (including pursuant to any Gaming Regulation), imposition of any disciplinary action, including 

  
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both monetary and nonmonetary, pursuant to any Gaming Regulation, Imposition, Legal Requirement, Insurance Requirement, lien, attachment, levy, encumbrance, charge or claim; provided, that
(i) in the case of an unpaid Imposition, lien, attachment, levy, encumbrance, charge or claim, the commencement and continuation of such proceedings shall suspend the collection thereof from Landlord and from the Leased Property;
(ii) neither the Leased Property or any portion thereof, the Rent therefrom nor any part or interest in either thereof would be in any danger of being sold, forfeited, attached or lost pending the outcome of such proceedings; (iii) in the
case of a Legal Requirement, neither Landlord nor Tenant would be in any imminent danger of criminal or material civil liability for failure to comply therewith pending the outcome of such proceedings; (iv) in the case of a Legal Requirement,
Imposition, lien, encumbrance or charge, Tenant shall deliver to Landlord security in the form of cash, cash equivalents or a Letter of Credit, if and as may be reasonably required by Landlord to insure ultimate payment of the same and to prevent
any sale or forfeiture of the Leased Property or any portion thereof or the Rent by reason of such non-payment or noncompliance; (v) in the case of an Insurance Requirement, the coverage required by
Article XIII shall be maintained; (vi) upon Landlord’s request, Tenant shall keep Landlord reasonably informed as to the status of the proceedings; and (vii) if such contest be finally resolved against Landlord or Tenant,
Tenant shall promptly pay the amount required to be paid, together with all interest and penalties accrued thereon, or comply with the applicable Legal Requirement or Insurance Requirement. Landlord, at Tenant’s expense, shall execute and
deliver to Tenant such authorizations and other documents as may reasonably be required in any such contest, and, if reasonably requested by Tenant or if Landlord so desires, Landlord shall join as a party therein. The provisions of this Article
XII shall not be construed to permit Tenant to contest the payment of Rent or any other amount (other than Impositions or Additional Charges contested in accordance herewith) payable by Tenant to Landlord hereunder. Tenant shall indemnify,
defend, protect and save Landlord harmless from and against any liability, cost or expense of any kind that may be imposed upon Landlord in connection with any such contest and any loss resulting therefrom, except to the extent resulting from
actions independently taken by Landlord (other than actions taken by Landlord at Tenant’s direction or with Tenant’s consent). 

ARTICLE XIII 
 INSURANCE

 13.1 General Insurance Requirements. During the Term, Tenant shall, at its own cost and expense, maintain
the minimum kinds and amounts of insurance described below. Such insurance shall apply to the ownership, maintenance, use and operations related to the Leased Property and all property located in or on the Leased Property (including Capital
Improvements and Tenant’s Property). Except for policies insured by Tenant’s captive insurers, all policies shall be written with insurers authorized to do business in all states where Tenant operates and shall maintain A.M Best ratings of
not less than “A-” “X” or better in the most recent version of Best’s Key Rating Guide. In the event that any of the insurance companies’ ratings fall below the requirements set
forth above, Tenant shall have one hundred eighty (180) days within which to replace such insurance company with an insurance company that qualifies under the requirements set forth above. It is understood that Tenant may utilize so called
Surplus lines companies and will adhere to the standard above. 

  
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 (a) Property Insurance. 

(i) Property insurance shall be maintained on the Leased Property (including barges and vessels used for gaming), Capital
Improvements and Tenant’s Property against loss or damage under a policy with coverage not less than that found on Insurance Services Office (ISO) “Causes of Loss – Special Form” and ISO “Building and Personal Property
Form” or their equivalent forms (e.g., an “all risk” policy), in a manner consistent with the commercially reasonable practices of similarly situated companies engaged in the same or similar businesses operating in the same or similar
location. Such property insurance policy shall be in an amount not less than Two Billion and No/100 Dollars ($2,000,000,000.00) and shall apply on a replacement cost basis; provided, that Tenant shall have the right (i) to limit maximum
insurance coverage for loss or damage by earthquake (including earth movement) to a minimum amount of the projected ground up loss with a 500-year return period (as determined annually by an independent firm
using RMS catastrophe modeling software or equivalent, and taking into account all locations insured under Tenant’s property insurance, including other locations owned, leased or managed by Tenant), and (ii) to limit maximum insurance
coverage for loss or damage by named windstorms per occurrence to a minimum amount of the projected ground up loss (including storm surge) with a 500-year return period (as determined annually by an
independent firm using RMS catastrophe software or equivalent, and taking into account all locations insured under Tenant’s property insurance, including other locations owned, leased or managed by Tenant); (iii) to limit maximum insurance
coverage for loss or damage by flood to a minimum amount of Two Hundred Fifty Million and No/100 Dollars ($250,000,000.00), to the extent commercially available; provided, further, that in the event the premium cost of any earthquake, flood, named
windstorm or terrorism peril (as required by Section 13.1(b)) coverages are available only for a premium that is more than two and one-half (2.5) times the premium paid by Tenant for the third (3rd)
year preceding the date of determination for the insurance policy contemplated by this Section 13.1(a), then Tenant shall be entitled and required to purchase the maximum amount of insurance coverage it reasonably deems most efficient and
prudent to purchase for such peril and Tenant shall not be required to spend additional funds to purchase additional coverages insuring against such risks; and provided, further, that certain property coverages other than earthquake, flood and named
windstorm may be sub-limited as long as each sub-limit is commercially reasonable and prudent as determined by Tenant and to the extent that the amount of such sub-limit is less than the amount of such sub-limit in effect as of the Commencement Date, such sub-limit is approved by Landlord, such
approval not to be unreasonably withheld. 
 (ii) Such property insurance policy shall include, subject to Section
13.1(a)(i) above: (i) agreed amount coverage and/or a waiver of any co-insurance; (ii) building ordinance coverage (ordinance or law) including loss of the undamaged portions, the cost of
demolishing undamaged portions, and the increased cost of rebuilding; and also including, but not limited to, any non-conforming structures or uses; (iii) equipment breakdown coverage (boiler and
machinery coverage); (iv) debris removal; and (v) business interruption coverage in an amount not less than two (2) years of Rent and containing an Extended Period of Indemnity endorsement for an additional minimum six months period.
Subject to Section 13.1(a)(i), the property policy shall cover: wind/windstorm, earthquake/earth movement and flood and any sub-limits applicable to 

  
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wind (e.g. named storms), earthquake and flood are subject to the approval of Landlord and Fee Mortgagee. Such policy shall (i) name Landlord as an additional insured and “loss
payee” for its interests in the Leased Property and Rent; (ii) name each Fee Mortgagee and Permitted Leasehold Mortgagee as an additional insured, and (iii) include a New York standard mortgagee clause in favor of each Fee Mortgagee
and Permitted Leasehold Mortgagee. Except as otherwise set forth herein, any property insurance loss adjustment settlement associated with the Leased Property shall require the written consent of Landlord, Tenant, and each Fee Mortgagee (to the
extent required under the applicable Fee Mortgage Documents) unless the amount of the loss net of the applicable deductible is less than One Hundred Million and No/100 Dollars ($100,000,000.00) in which event no consent shall be required. 

(b) Property Terrorism Insurance. Property Insurance shall be maintained for acts of terrorism covered by the Terrorism Risk Insurance
Program Authorization Act of 2015 (TRIPRA) and acts of terrorism and sabotage not certified by TRIPRA, with limits no less than One Billion Five Hundred Million and No/100 Dollars ($1,500,000,000.00) per occurrence for acts of terrorism covered by
the Terrorism Risk Insurance Program Authorization Act of 2015 (TRIPRA) and Two Hundred Twenty-Five Million and No/100 Dollars ($225,000,000.00) for acts of terrorism and sabotage not certified by TRIPRA. Both coverages shall apply to property
damage and business interruption. The provisions relating to loss payees, additional insureds and mortgagee clauses set forth in Section 13.1(a) above shall also apply to the coverages required by this Section 13.1(b). If Tenant uses
one or more of its captive insurers to provide this insurance coverage, the captive(s) must secure and maintain reinsurance from one or more reinsurers for those amounts which are not insured by the Federal Government, and which are in excess of a
commercially reasonable policy deductible. Such reinsurers are subject to the same minimum financial ratings set forth in Section 13.1. In the event TRIPRA is not extended or renewed, Landlord and Tenant shall mutually
agree (in accordance with the procedures set forth in Section 13.6) upon replacement insurance requirements applicable to terrorism related risks. 

(c) Flood Insurance. With respect to any portion of the Leased Property that is security under a Fee Mortgage, if at any time the area
in which such Leased Property is located is designated a “Special Flood Hazard Area” as designated by the Federal Emergency Management Agency (or any successor agency), Tenant shall obtain separate flood insurance through the National
Flood Insurance Program. Such flood insurance may be provided as part of Section 13.1(a) Property Insurance above. 
 (d) Workers
Compensation and Employers Liability Insurance. Workers compensation insurance as required by applicable state statutes and Employers Liability. This insurance shall include endorsements applicable to (i) Longshore and Harbor Workers
Compensation Act; and (ii) Maritime Coverage (including transportation, wages, maintenance and cure, if not otherwise covered by Section 13.1(g) Marine Liability Insurance). 

(e) Commercial General Liability Insurance. For bodily injury, personal injury, advertising injury and property damage on an occurrence
form with coverage no less than ISO Form CG 0001 or equivalent. This policy shall include the following coverages: (i) Liquor Liability; (ii) Named Peril/Time Element Pollution, to the extent commercially available to operators of
properties similar to the subject Leased Property; (iii) Watercraft Liability, to the extent commercially available to operators of properties similar to the subject Leased Property; (iv) Terrorism Liability; and (v) a Separation of
Insureds Clause. 

  
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 (f) Business Auto Liability Insurance. For bodily injury and property damage arising from
the ownership, maintenance or use of owned, hired and non-owned vehicles (ISO Form CA 00 01 or equivalent). 

(g) Marine Liability Insurance. If Tenant utilizes watercraft in its operations or special events, for bodily injury and property
damage (Protection and Indemnity) on an occurrence form. If not covered by the other insurance policies required by this Article XIII, this policy shall include the following coverages: (i) Liquor Liability; (ii) Pollution Liability; and
(iii) injuries to captains and crew. To the extent commercially available at a reasonable price, this policy shall contain a Separation of Insureds clause. This coverage may be met through the combination of primary marine liability and excess
liability coverage. 
 (h) Excess Liability Insurance. Excess Liability coverage shall be maintained over the required Employers
Liability, Commercial General Liability, Business Auto Liability and Marine Liability policies in an amount not less than Three Hundred Fifty Million and No/100 Dollars ($350,000,000.00) per occurrence and in the aggregate annually (where
applicable). The annual aggregate limit applicable to Commercial General Liability shall apply per location. Tenant will use commercially reasonable efforts to obtain coverage as broad as the underlying insurance, including Terrorism Liability
coverage, so long as such coverage is available at a commercially reasonable price. 
 (i) Pollution Liability Insurance. For claims
arising from the discharge, dispersal release or escape or any irritant or contaminant into or upon land, any structure, the atmosphere, watercourse or body of water, including groundwater. This shall include on and
off-site clean up and emergency response costs and claims arising from above ground and below ground storage tanks. If this policy is provided on a “claims made” basis (i) the retroactive date
shall remain as June 26, 1998 for legal liability; and (ii) coverage shall be maintained for two (2) years after the Term. 

13.2 Name of Insureds. Except for the insurance required pursuant to Section 13.1(d), all insurance
provided by Tenant as required by this Article XIII shall include Landlord (including specified Landlord related entities as directed by Landlord) as a loss payee (solely with respect to the insurance required pursuant to Section 13.1(a),
Section 13.1(b) and Section 13.1(c)), named insured or additional insured without restrictions beyond the restrictions that apply to Tenant and may include any Permitted Leasehold Mortgagee as an additional insured; provided, however,
the insurance required pursuant to Section 13.1(i) and Section 13.1(g) shall be permitted to include Landlord (including specified Landlord related entities as directed by Landlord) as an additional insured without the
requirement that such policy expressly include language that such coverage is without restrictions beyond the restrictions that apply to Tenant. The coverage provided to the additional insureds by Tenant’s insurance policies must be at least as
broad as that provided to the first named insured on each respective policy. For avoidance of doubt, Landlord looks exclusively to Tenant’s insurance policies to protect itself from claims arising from the Leased Property and Capital
Improvements. The required insurance policies shall protect Landlord against Landlord’s acts with respect to the Leased Property in the same 

  
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manner that they protect Tenant against its acts with respect to the Leased Property. Except for the insurance required pursuant to Section 13.1(d) with respect to Workers Compensation and
Employers Liability, the required insurance policies shall be endorsed to include others as additional insureds as required by Landlord and/or the Fee Mortgage Documents and/or Permitted Leasehold Mortgagee. The insurance protection afforded to all
insureds (whether named insureds or additional insureds) shall be primary and shall not contribute with any insurance or self-insurance programs maintained by such insureds (including deductibles and self-insured retentions). 

13.3 Deductibles or Self-Insured Retentions. Tenant may self-insure such risks that are customarily self-insured by
companies of established reputation engaged in the same general line of business in the same general area. All increases in deductibles and self-insured retentions (collectively referred to as “Deductibles” in this Article XIII)
that apply to the insurance policies required by this Article XIII are subject to approval by Landlord, with such approval not to be unreasonable withheld, conditioned or delayed. Tenant is solely responsible for all Deductibles related to
its insurance policies. The Deductibles Tenant has in effect as of the Commencement Date satisfy the requirements of this Section as of the Commencement Date. 

13.4 Waivers of Subrogation. Landlord shall not be liable for any loss or damage insured by the insurance policies
required to be maintained under this Article XIII and policies issued by Tenant’s captive insurers (including related Deductibles), it being understood that (i) Tenant shall look solely to its insurance for the recovery of such loss
or damage; and (ii) such insurers shall have no rights of subrogation against Landlord. Each insurance policy shall contain a clause or endorsement which waives all rights of subrogation against Landlord, Fee Mortgagees and other entities or
individuals as reasonably requested by Landlord. 
 13.5 Limits of Liability and Blanket Policies. The insured limits
of liability maintained by Tenant shall be selected by Tenant in a manner consistent with the commercially reasonable practices of similarly situated tenants engaged in the same or similar businesses operating in the same or similar location as the
Leased Property. The limits of liability Tenant has in effect as of the Commencement Date satisfy the requirements of this Section as of the Commencement Date. The insurance required by this Article XIII may be effected by a policy or
policies of blanket insurance and/or by a combination of primary and excess insurance policies (all of which may insure additional properties owned, operated or managed by Tenant or its Affiliates), provided each policy shall be satisfactory to
Landlord, acting reasonably, including, the form of the policy, provided such policies comply with the provisions of this Article XIII. 

13.6 Future Changes in Insurance Requirements. 

(a) In the event one or more additional locations become Leased Property or Capital Improvements during the Term, whether through acquisition,
lease, new construction or other means, Landlord may reasonably amend the insurance requirements set forth in this Article XIII to properly address new risks or exposures to loss, in accordance with the procedures set forth in this Section
13.6(a). For example, for construction projects, different forms of insurance may be required, such as builders risk, and Landlord and Tenant shall mutually agree upon insurance requirements applicable to the construction contractors. Tenant and
Landlord shall 

  
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work together in good faith to exchange information (including proposed construction agreements) and ascertain appropriate insurance requirements prior to Tenant being required to amend its
insurance under this Section 13.6(a); provided, however, that any revision to insurance shall only be required if the revised insurance would be customarily maintained by similarly situated tenants engaged in the same or similar
businesses operating in the same or similar location as the Leased Property. If Tenant and Landlord are unable to reach a resolution within thirty (30) days of the original notice of requested revision, the arbitration provisions set forth in
Section 34.2 shall control. 
 (b) In the event that (1) the operations of Tenant change in the future, and
Tenant believes adjustments in Deductibles, insured limits or coverages are warranted, (2) Tenant desires to increase one or more Deductibles, reduce limits of liability below those in place as of the Commencement Date or materially reduce
coverage, or (3) not more than once during any twelve (12) month period (or more frequently in connection with the requirements of a Fee Mortgage), Landlord reasonably determines that the insurance carried by Tenant is not, for any reason
(whether by reason of the type, coverage, deductibles, insured limits, the reasonable requirements of Fee Mortgagees, or otherwise) commensurate with insurance customarily maintained by similarly situated tenants engaged in the same or similar
businesses operating in the same or similar location, the party seeking the change will advise the other party in writing of the requested insurance revision. Tenant and Landlord shall work together in good faith to determine whether the requested
insurance revision shall be made; provided, however, that any revision to insurance shall only be made if the revised insurance would be customarily maintained by similarly situated tenants engaged in the same or similar businesses
operating in the same or similar location as the Leased Property. If Tenant and Landlord are unable to reach a resolution within thirty (30) days of the original notice of requested revision, the arbitration provisions set forth in
Section 34.2 shall control. Solely with respect to the insurance required by Section 13.1(h) above, in no event shall the outcome of an insurance revision pursuant to this Section 13.6
require Tenant to carry insurance in an amount which exceeds the product of (i) the amounts set forth in Section 13.1(h) hereof and (ii) the CPI Increase. 

13.7 Notice of Cancellation or Non-Renewal. Each required insurance policy shall
contain an endorsement requiring thirty (30) days prior written notice to Landlord, Fee Mortgagees and Leasehold Mortgagees of any cancellation or non-renewal. Ten (10) days’ prior written
notice shall be required for cancellation for non-payment of premium. Tenant shall secure replacement coverage to comply with the stated insurance requirements and provide new certificates of insurance to
Landlord and others as directed by Landlord. 
 13.8 Copies of Documents. Tenant shall provide (i) binders
evidencing renewal coverages no later than the applicable renewal date of each insurance policy required by this Article XIII; and (ii) copies of all insurance policies required by this Article XIII (including policies issued by
Tenant’s captive insurers which are in any way related to the required policies, including policies insuring Deductibles), within one hundred and twenty days (120) after inception date of each, and if additionally required, within ten
(10) days of written request by Landlord. In addition, Tenant will supply documents that are related to the required insurance policies on January 1 of each calendar year during the Term and three (3) years afterwards, and as
otherwise requested in writing by Landlord. Such documents shall be in formats reasonably acceptable to Landlord and include, but are not limited to, (i) statements of property value by 

  
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location, (ii) risk modeling reports (e.g., named storms and earthquake), (iii) actuarial reports, (iv) loss/claims reports, (v) detailed summaries of Tenant’s insurance policies
and, as respects Tenant’s captive insurers the most recent audited financial statements (including notes therein) and reinsurance agreements. Landlord shall hold the contents of the documents provided by Tenant as confidential; provided that
Landlord shall be entitled to disclose the contents of such documents to its insurance consultants, attorneys, accountants and other agents in connection with the administration and/or enforcement of this Lease, and (ii) to any Fee Mortgagees,
Permitted Leasehold Mortgagees and potential lenders and their respective representatives, and (iii) as may be required by applicable laws. Landlord shall utilize commercially reasonable efforts to cause each such person or entity to enter into
a written agreement to maintain the confidentiality thereof for the benefit of Landlord and Tenant. 
 13.9 Certificates of
Insurance. Certificates of insurance, evidencing the required insurance, shall be delivered to Landlord on the Commencement Date, annually thereafter, and upon written request by Landlord. If required by any Fee Mortgagee, Tenant shall
provide endorsements and written confirmations that all premiums have been paid in full. 
 13.10 Other Requirements.
Tenant shall comply with the following additional provisions: 
 (a) Prior to the date of the refinancing of (a) that certain Indenture,
dated April 17, 2014, among Caesars Growth Properties Holdings, LLC, Caesars Growth Properties Finance, Inc., the subsidiary guarantors party thereto, and U.S. Bank National Association, as trustee, (b) that certain First Lien Credit
Agreement, dated May 8, 2014, among Caesars Growth Properties Parent, LLC, Caesars Growth Properties Holdings, LLC, the lenders party thereto and Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent,
(c) that certain First Lien Credit Agreement, dated October 11, 2013, among Caesars Entertainment Resort Properties, LLC, Caesars Entertainment Resort Properties Finance, Inc., Harrah’s Las Vegas, LLC, Harrah’s Atlantic City
Holding, Inc., Rio Properties, LLC, Flamingo Las Vegas Holding, LLC, Harrah’s Laughlin, LLC, Paris Las Vegas Holding, LLC, the lenders party thereto and Citicorp North America, Inc. as administrative agent and collateral agent, (d) that
certain Indenture, dated October 11, 2013, among Caesars Entertainment Resort Properties, LLC, Caesars Entertainment Resort Properties Finance, Inc., Harrah’s Atlantic City Holding, Inc., Harrah’s Las Vegas, LLC, Harrah’s
Laughlin, LLC, Flamingo Las Vegas Holding, LLC, Paris Las Vegas Holding, LLC, Rio Properties, LLC, the subsidiary guarantors party thereto, and U.S. Bank National Association, as trustee, and (e) that certain Indenture, dated October 11,
2013, among Caesars Entertainment Resort Properties, LLC, Caesars Entertainment Resort Properties Finance, Inc., Harrah’s Atlantic City Holdings, Inc., Harrah’s Las Vegas, LLC, Harrah’s Laughlin, LLC, Flamingo Las Vegas Holding, LLC,
Paris Las Vegas Holding, LLC, Rio Properties, LLC, the subsidiary guarantors party thereto, and U.S. Bank National Association (collectively, the “Refinancing”), in the event of a catastrophic loss or multiple losses at multiple
properties owned or leased directly or indirectly by CEC and that are insured by CEC, then in the case that (1) such catastrophic loss or multiple losses exhaust any per occurrence or aggregate insurance limits under the property or terrorism
insurance policies required by this Article XIII, (2) at least one such property affected by the catastrophic loss(es) is the Facility hereunder or under an Other Lease (in either case, a “Subject Facility”) and
(3) at least one other such property affected by the catastrophic loss(es) is not a Subject Facility, then the property and 

  
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terrorism insurance proceeds received in connection with such catastrophic loss(es) shall be allocated amongst the affected properties pro-rata based on
the insured values of the impacted properties, with no property receiving an allocation exceeding the loss suffered by such property. 
 (b)
From and after the date of the Refinancing, in the event of a catastrophic loss or multiple losses at multiple properties owned or leased directly or indirectly by CEC and that are insured by CEC, then in the case that at least one such property is
a Subject Facility and at least one other such property is not a Subject Facility, if (A) such catastrophic loss or multiple losses exhaust any per occurrence or aggregate insurance limits under the property or terrorism insurance policies
required by this Article XIII and any such property that is not a Subject Facility is (w) directly or indirectly managed but not directly or indirectly owned by CEC, (x) not wholly owned, directly or indirectly, by CEC,
(y) subject to a ground lease with a landlord party that is neither Landlord nor its affiliates, or (z) is financed on a stand-alone basis, then the insurance proceeds received in connection with such catastrophic loss or multiple losses
shall be allocated pro-rata based on the insured values of the impacted properties, with no property receiving an allocation exceeding the loss suffered by such property, and (B) if such catastrophic loss
or multiple losses exhaust any per occurrence or aggregate insurance limits under the property or terrorism insurance policies required by this Article XIII and no property that is not a Subject Facility is a property described in clauses
(w) through (z) above, the property(ies) that is a Subject Facility shall have first priority to insurance proceeds from the property policy or terrorism policy in connection with such catastrophic loss or multiple losses up to the reasonably
anticipated amount of loss with respect to the Subject Facility. Any property or terrorism insurance proceeds allocable to a Subject Facility pursuant to clause (B) above shall be paid to Landlord (or the landlord under the Other Lease, as
applicable) and applied in accordance with the terms of this Lease (or the Other Lease, as applicable). 
 (c) In the event Tenant shall at
any time fail, neglect or refuse to insure the Leased Property (including barges and vessels used for gaming) and Capital Improvements, or is not in full compliance with its obligations under this Article XIII, Landlord may, at its election,
procure replacement insurance. In such event, Landlord shall disclose to Tenant the terms of the replacement insurance. Tenant shall reimburse Landlord for the cost of such replacement insurance within thirty (30) days after Landlord pays for
the replacement insurance. The cost of such replacement insurance shall be reasonable considering the then-current market. 
 ARTICLE XIV

 CASUALTY 

14.1 Property Insurance Proceeds. All proceeds (except business interruption not allocated to rent expenses, if any)
payable by reason of any property loss or damage to the Leased Property, or any portion thereof, under any property policy of insurance required to be carried hereunder shall be paid to Fee Mortgagee or to an escrow account held by a third party
depositary reasonably acceptable to Landlord, Tenant and, if applicable, the Fee Mortgagee (in each case pursuant to an escrow agreement reasonably acceptable to the Parties and the Fee Mortgagee and intended to implement the terms hereof, and made
available to Tenant upon request for the reasonable costs of preservation, stabilization, restoration, reconstruction and repair, as the case may be, of any damage to or destruction of the Leased Property, or any portion

  
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thereof; provided, however, that the portion of any such proceeds that are attributable to Tenant’s obligation to pay Rent shall be applied against Rent due by Tenant
hereunder; and provided, further, that if the total amount of proceeds payable net of the applicable deductibles is Twenty Million and No/100 Dollars ($20,000,000.00) or less, and, if no Tenant Event of Default has occurred and is
continuing, the proceeds shall be paid to Tenant and, subject to the limitations set forth in this Article XIV used for the repair of any damage to or restoration or reconstruction of the Leased Property in accordance with
Section 14.2. For the avoidance of doubt, any insurance proceeds payable by reason of (i) loss or damage to Tenant’s Property and/or Tenant Material Capital Improvements, or (ii) business interruption shall
be paid directly to and belong to Tenant. Any excess proceeds of insurance remaining after the completion of the restoration or reconstruction of the Leased Property in accordance herewith shall be provided to Tenant. So long as no Tenant Event of
Default is continuing, Tenant shall have the right to prosecute and settle insurance claims, provided that, in connection with insurance claims exceeding Twenty Million and No/100 Dollars ($20,000,000.00), Tenant shall consult with and
involve Landlord in the process of adjusting any insurance claims under this Article XIV and any final settlement with the insurance company for claims exceeding Twenty Million and No/100 Dollars ($20,000,000.00) shall be subject to
Landlord’s consent, such consent not to be unreasonably withheld, conditioned or delayed. 
 14.2 Tenant’s
Obligations Following Casualty 
 (a) In the event of a Casualty Event with respect to the Facility or any portion thereof
(to the extent the proceeds of insurance in respect thereof are made available to Tenant as and to the extent required under the applicable escrow agreement), (i) Tenant shall restore such Facility (or any applicable portion thereof, excluding,
at Tenant’s election, any Tenant Material Capital Improvement, unless such Tenant Material Capital Improvement is integrated into the Facility such that the Facility could not practically or safely be operated without restoring such Tenant
Material Capital Improvement, provided that with respect to any Tenant Material Capital Improvement that is not rebuilt, Tenant shall repair and thereafter maintain the portions of the Facility affected by the loss or damage of such Tenant Material
Capital Improvement in a condition commensurate with the quality, appearance and use of the balance of the Facility and satisfying the Facility’s parking requirements) to substantially the same condition as existed immediately before such
damage or otherwise in a manner reasonably satisfactory to Landlord, and (ii) the damage caused by the applicable Casualty Event shall not terminate this Lease; provided, however, that if the applicable Casualty Event shall occur
not more than two (2) years prior to the then-Stated Expiration Date and the cost to restore the Facility (excluding for avoidance of doubt any affected Tenant Material Capital Improvements that Tenant is not required to restore) to the
condition immediately preceding the Casualty Event, as determined by a mutually approved contractor or architect, would equal or exceed twenty-five percent (25%) of the Fair Market Ownership Value of the Facility immediately prior to the time of
such damage or destruction, then each of Landlord and Tenant shall have the option, exercisable in such Party’s sole and absolute discretion, to terminate this Lease, upon written notice to the other Party hereto delivered to such other Party
within thirty (30) days of the determination of the amount of damage and the Fair Market Ownership Value of the Facility and, if such option is exercised by either Landlord or Tenant, this Lease shall terminate and Tenant shall not be required
to restore the Facility and any insurance proceeds payable as a result of the damage or destruction shall be payable in accordance with Section 14.2(c). Notwithstanding anything to the contrary contained

  
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herein, if a Casualty Event occurs (and/or if the determination of the amount of damage and/or the thirty (30) day period referred to in the preceding sentence is continuing) at a time when
Tenant could send a Renewal Notice (provided, for this purpose, Tenant shall be permitted to send a Renewal Notice under Section 1.4 not more than twenty-four (24) months (rather than not more than eighteen
(18) months) prior to the then current Stated Expiration Date), if Tenant has elected or elects to exercise the same at any time following Tenant’s receipt of such notice of termination from Landlord, neither Landlord nor Tenant may
terminate this Lease under this Section 14.2(a). 
 (b) If the cost to restore the Leased Property exceeds the amount of proceeds
received from the insurance required to be carried hereunder, (subject to Section 14.2(e)) Tenant’s restoration obligations hereunder shall continue unimpaired, and Tenant shall provide Landlord with evidence reasonably acceptable to
Landlord that Tenant has (or is reasonably expected to have) available to it any excess amounts needed to restore the Leased Property to the condition required hereunder. Such excess amounts shall be paid by Tenant. 

(c) In the event neither Landlord nor Tenant is required or elects to repair and restore the Leased Property, all insurance proceeds (except
business interruption), other than proceeds reasonably attributed to any Tenant Material Capital Improvements (or other property owned by Tenant), which proceeds shall be and remain the property of Tenant, shall be paid to and retained by Landlord
(after reimbursement to Tenant for any reasonably-incurred expenses in connection with the subject Casualty Event) free and clear of any claim by or through Tenant except as otherwise specifically provided below in this Article XIV. 

(d) If Tenant fails to complete the restoration of the Facility and gaming operations do not recommence substantially in the same manner as
prior to the applicable Casualty Event by the date that is the fourth (4th) anniversary of the date of any Casualty Event (subject to extension in the event of an Unavoidable Delay during such four (4) year period, on a day-for-day basis, for the same amount of time that such Unavoidable Delay affects Tenant’s ability to perform such restoration in accordance with this
Section 14.2), then, without limiting any of Landlord’s rights and remedies otherwise, all remaining insurance proceeds shall be paid to and retained by Landlord free and clear of any claim by or through Tenant,
provided, that, so long as no Tenant Event of Default has occurred and is continuing, Landlord agrees to use such remaining proceeds for repair and restoration with respect to such Casualty Event. 

(e) If, and solely to the extent that, the damage resulting from any applicable Casualty Event is not an insured event under the insurance
policies required to be maintained by Tenant under this Lease, then Tenant shall not be obligated to restore the Leased Property in respect of the damage from such Casualty Event. 

14.3 No Abatement of Rent. Except as expressly provided in this Article XIV, this Lease shall remain in full force
and effect and Tenant’s obligation to pay Rent and all Additional Charges required by this Lease shall remain unabated during any period following a Casualty Event. 

  
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 14.4 Waiver. Tenant waives any statutory rights of termination which may
arise by reason of any damage or destruction of the Leased Property but such waiver shall not affect any contractual rights granted to Tenant under this Lease. 

14.5 Insurance Proceeds and Fee Mortgagee. Notwithstanding anything herein (including, without limitation, Article
XXXI hereof) or in any Fee Mortgage Documents to the contrary, Landlord shall require that any Fee Mortgagee Documents (including, without limitation, with respect to the Existing Fee Mortgage) shall permit Tenant to rebuild in accordance with
the terms and provisions of this Lease (and any such Fee Mortgage Documents shall expressly provide that Tenant or Landlord, as applicable, is entitled to the applicable insurance proceeds in accordance with the terms and provisions of this Lease).

 ARTICLE X 

VEMINENT DOMAIN 

15.1 Condemnation. Tenant shall promptly give Landlord written notice of the actual or threatened Condemnation or any
Condemnation proceeding affecting the Leased Property of which Tenant has knowledge and shall deliver to Landlord copies of any and all papers served in connection with the same. 

(a) Total Taking. If the Leased Property is subject to a total and permanent Taking, this Lease shall automatically terminate as of the
day before the date of such Taking or Condemnation. 
 (b) Partial Taking. If a portion (but not all) of the Leased Property (and,
without limitation, any Capital Improvements with respect thereto) is subject to a permanent Taking (“Partial Taking”), this Lease shall remain in effect so long as the Facility is not thereby rendered Unsuitable for its Primary
Intended Use, and Rent shall be adjusted in accordance with the Rent Reduction Amount with respect to the subject portion; provided, however, that if the remaining portion of the Facility is rendered Unsuitable for Its Primary Intended
Use, this Lease shall terminate as of the day before the date of such Taking or Condemnation. 
 (c) Restoration. If there is a
Partial Taking and this Lease remains in full force and effect, Landlord shall make available to Tenant the Award to be applied first to the restoration of the Leased Property in accordance with this Lease and, to the extent required hereby, any
affected Tenant Material Capital Improvements, and thereafter as provided in Section 15.2. In such event, subject to receiving such Award, Tenant shall accomplish all necessary restoration in accordance with the following
sentence (whether or not the amount of the Award received by Tenant is sufficient) and the Rent shall be adjusted in accordance with the Rent Reduction Amount. Tenant shall restore the Leased Property (excluding any Tenant Material Capital
Improvement, unless such Tenant Material Capital Improvement is integrated into the Facility such that the Facility could not practically or safely be operated without restoring such Tenant Material Capital Improvement) as nearly as reasonably
possible under the circumstances to a complete architectural unit of the same general character and condition as the Leased Property existing immediately prior to such Taking. 

  
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 15.2 Award Distribution. Except as set forth below and in Section
15.1(c) hereof, the Award resulting from the Taking shall be paid as follows: (i) first, to Landlord to the extent of the Fair Market Ownership Value of Landlord’s interest in the Leased Property subject to the Taking (excluding any
Tenant Material Capital Improvements), (ii) second, to Tenant to the extent of the Fair Market Property Value of Tenant’s Property and any Tenant Material Capital Improvements subject to the Taking (but for avoidance of doubt, not
including any amount for any unexpired portion of the Term), and (iii) third, any remaining balance shall be paid to Landlord. Notwithstanding the foregoing, Tenant shall be entitled to pursue its own claim with respect to the Taking for
Tenant’s lost profits value and moving expenses and, the portion of the Award, if any, allocated to any Tenant Material Capital Improvements and Tenant’s Property, shall be and remain the property of Tenant free of any claim thereto by
Landlord. 
 15.3 Temporary Taking. The taking of the Leased Property, or any part thereof, shall constitute a Taking
by Condemnation only when the use and occupancy by the taking authority has continued for longer than one hundred eighty (180) consecutive days. During any shorter period, which shall be a temporary taking, all the provisions of this Lease
shall remain in full force and effect and the Award allocable to the Term shall be paid to Tenant. 
 15.4 Condemnation Awards
and Fee Mortgagee. Notwithstanding anything herein (including, without limitation, Article XXXI hereof) or in any Fee Mortgage Documents to the contrary, Landlord shall require that any Fee Mortgagee Documents (including, without
limitation, with respect to the Existing Fee Mortgage) shall permit Tenant to rebuild in accordance with the terms and provisions of this Lease (and any such Fee Mortgage Documents shall expressly provide that Tenant or Landlord, as applicable, is
entitled to the applicable Award in accordance with the terms and provisions of this Lease). 
 ARTICLE XV 

IDEFAULTS & REMEDIES 

16.1 Tenant Events of Default. Any one or more of the following shall constitute a “Tenant Event of
Default”: 
 (a) Tenant shall fail to pay any installment of Rent when due and such failure is not cured within ten (10) days
after written notice from Landlord of Tenant’s failure to pay such installment of Rent when due (and such notice of failure from Landlord may be given any time after such installment of Rent is more than one (1) day late); 

(b) Tenant shall fail to pay any Additional Charge (excluding, for the avoidance of doubt the Minimum Cap Ex Amount) within ten (10) days
after written notice from Landlord of Tenant’s failure to pay such Additional Charge when due (and such notice of failure from Landlord may be given any time after such payment of any Additional Charge is more than one (1) day late); 

  
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 (c) Tenant or, unless the Guarantor EOD Conditions exist, Guarantor shall: 

(i) file a petition in bankruptcy or a petition to take advantage of any insolvency law or statute under Federal law,
specifically including Title 11, United States Code, §§ 101-1532, or analogous state law; 

(ii) make an assignment for the benefit of its creditors; or 

(iii) consent to the appointment of a receiver of itself or of the whole or substantially all of its property; 

(d) (i) Tenant shall be adjudicated as bankrupt or a court of competent jurisdiction shall enter an order or decree appointing, without the
consent of Tenant, a receiver of Tenant or of all or substantially all of Tenant’s property, or approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under Federal law, specifically including Title 11, United
States Code, §§ 101-1532, or analogous state law, and such judgment, order or decree shall not be vacated or set aside or stayed within sixty (60) days from the date of the entry thereof;

 (ii) Unless the Guarantor EOD Conditions exist, Guarantor shall be adjudicated as bankrupt or a court of competent jurisdiction shall
enter an order or decree appointing, without the consent of Guarantor, a receiver of Guarantor or of all or substantially all of Guarantor’s property, or approving a petition filed against Guarantor seeking reorganization or arrangement of
Guarantor under Federal law, specifically including Title 11, United States Code, §§ 101-1532, or analogous state law, and such judgment, order or decree shall not be vacated or set aside or stayed
within sixty (60) days from the date of the entry thereof; or 
 (e) entry of an order or decree liquidating or dissolving Tenant,
Manager or, unless the Guarantor EOD Conditions exist, Guarantor, provided that the same shall not constitute a Tenant Event of Default if (i) such order or decree shall be vacated, set aside or stayed within ninety (90) days from the date
of the entry thereof, or (ii) with respect to Manager only, (x) Manager is not an Affiliate of Tenant, or (y) another wholly-owned subsidiary of CEC assumes the MLSA and the other Lease/MLSA Related Agreements to which Manager is a
party; 
 (f) Tenant shall fail to cause the Facility to be Operated (as defined in the MLSA) in a
Non-Discriminatory (as defined in the MLSA) manner, in accordance with the Operating Standard (as defined in the MLSA) and subject to Manager’s Standard of Care (as defined in the MLSA) (in each case as
and to the extent required under the MLSA, including as provided in Section 2.1.1, Section 2.1.2, Section 2.1.3, Section 2.1.4, Section 2.3.1, and Section 2.3.2 of the MLSA, but subject to Section 5.9.1 of the
MLSA), which failure would reasonably be expected to have a material and adverse effect on Landlord (taken as a whole with “Landlord” as defined under the Non-CPLV Lease) or on the Facility (taken as
a whole with the Non-CPLV Facilities), and which failure is not cured within thirty (30) days following notice thereof from Landlord to Tenant; provided that, if: (i) such failure is not
susceptible of cure within such thirty (30) day period; and (ii) such failure would not expose Landlord to an imminent and material risk of criminal liability or of material damage to its business reputation, such thirty (30) day cure

  
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period shall be extended for such time as is necessary (but in no event longer than ninety (90) days) to cure such failure so long as Tenant commences to cure such failure or other breach
within such thirty (30) day period and thereafter proceeds with reasonable diligence to complete such cure); 
 (g) the estate or
interest of Tenant in the Leased Property or any part thereof shall be levied upon or attached in any proceeding relating to more than Twenty-Five Million and No/100 Dollars ($25,000,000.00), and the same shall not be vacated, discharged or stayed
pending appeal (or paid or bonded or otherwise similarly secured payment) within the later of ninety (90) days after commencement thereof or thirty (30) days after receipt by Tenant of notice thereof from Landlord; provided,
however, that such notice shall be in lieu of and not in addition to any notice required under applicable law; 
 (h) if Tenant or,
unless the Guarantor EOD Conditions exist, Guarantor shall fail to pay, bond, escrow or otherwise similarly secure payment of one or more final judgments aggregating in excess of the amount of Seventy-Five Million and No/100 Dollars
($75,000,000.00), which judgments are not discharged or effectively waived or stayed for a period of forty-five (45) consecutive days; 

(i) unless the Guarantor EOD Conditions exist, a Lease Guarantor Event of Default shall occur under the MLSA; 

(j) intentionally omitted; 
 (k)
intentionally omitted; 
 (l) if a Licensing Event with respect to Tenant under clause (a) of the definition of Licensing Event shall
occur and is not resolved in accordance with Section 41.13 within the later of (i) thirty (30) days or (ii) such additional time period as may be permitted by the applicable Gaming Authorities; 

(m) Tenant fails to comply with any Additional Fee Mortgagee Requirements, which default is not cured within the applicable cure period set
forth in the Fee Mortgage Documents, if the effect of such default is to cause, or to permit the holder or holders of the applicable Fee Mortgage (or a trustee or agent on behalf of such holder or holders) to cause, such Fee Mortgage to become or be
declared due and payable (or redeemable) prior to its stated maturity); 
 (n) a transfer of Tenant’s interest in this Lease (including
pursuant to a Change in Control) shall have occurred without the consent of Landlord to the extent such consent is required under Article XXII or Tenant is otherwise in default of the provisions set forth in
Section 22.1 below; 
 (o) if Tenant shall fail to observe or perform any other term, covenant or condition of
this Lease and such failure is not cured within thirty (30) days after written notice thereof from Landlord, provided, however, if such failure cannot reasonably be cured within such thirty (30) day period and Tenant shall
have commenced to cure such failure within such thirty (30) day period and thereafter diligently proceeds to cure the same, such thirty (30) day 

  
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period shall be extended for such time as is reasonably necessary for Tenant in the exercise of due diligence to cure such failure, provided that, with respect to any failure to perform
(i) that is still continuing on or after the first day of the sixth (6th) Lease Year such cure period shall not extend beyond the later of such first day of the sixth (6th) Lease Year or one-hundred and eighty (180) days in the aggregate, and (ii) that is first arising on or after the first day of the sixth (6th) Lease
Year, such cure period shall not exceed one-hundred and eighty (180) days in the aggregate, provided, further however, that no Tenant Event of Default under this clause (o) or
under clause (q) below shall be deemed to exist under this Lease during any time the curing thereof is prevented by an Unavoidable Delay, provided that upon the cessation of the Unavoidable Delay, Tenant remedies the default within the
time periods otherwise required hereunder; 
 (p) A “Tenant Event of Default” (as defined in the applicable Other Lease) shall
occur under any Other Lease. 
 (q) the occurrence of a Tenant Event of Default pursuant to Section 10.5(a)(x); 

(r) unless the Guarantor EOD Conditions exist, if Guarantor shall, in any judicial or quasi-judicial case, action or proceeding, contest (or
collude with or otherwise affirmatively assist any other Person, or solicit or cause to be solicited any other Person to contest) the validity or enforceability of Guarantor’s obligations under the MLSA, (or any Qualified Replacement
Guarantor’s obligations under a Replacement Guaranty); and 
 (s) if Tenant shall fail to comply with any of the provisions, terms or
conditions of any Ground Lease in effect as of the Commencement Date (or any renewals thereof) with respect to any of the Continuous Operation Facilities as required under Section 7.3 hereof, which failure is not cured within the applicable
time period set forth in the applicable Ground Lease and the effect of such failure is to permit the applicable Ground Lessor to terminate such Ground Lease or to result in the Ground Lease being terminated pursuant to the terms thereof. 

Notwithstanding anything contained herein to the contrary, (i) Landlord shall deliver all notices required pursuant to
Section 16.1 concurrently to Tenant and Guarantor and (ii) a default by Tenant under any Permitted Leasehold Mortgage shall not in and of itself be a Tenant Event of Default hereunder (it being understood that if the
circumstances that cause such default independently comprise a default hereunder that continues beyond all applicable notice and cure periods hereunder then such circumstances would cause a Tenant Default hereunder). 

Notwithstanding the foregoing, (i) Tenant shall not be in breach of this Lease solely as a result of the exercise by the party (other
than Tenant, CEC, CEOC or any of their respective Affiliates) to any of the Permitted Exception Documents of such party’s rights thereunder so long as Tenant undertakes commercially reasonable efforts to cause such party to comply or otherwise
minimize such breach, and (ii) in the event that Tenant is required, under the express terms of any Permitted Exception Document(s), to take or refrain from taking any action, and taking or refraining from taking such action would result in a
default under this Lease, then Tenant shall advise Landlord of the same, and Tenant and Landlord shall reasonably cooperate in order to address the same in a mutually acceptable manner, and so as to minimize any harm or liability to Landlord and to
Tenant. For the avoidance of doubt, in no event shall a Permitted Exception Document excuse Tenant from its obligation to pay Rent or Additional Charges. 

  
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 16.2 Landlord Remedies. Upon the occurrence and during the continuance of a
Tenant Event of Default but subject to the provisions of Article XVII, Landlord may, subject to the terms of Section 16.3 below, do any one or more of the following: (x) terminate this Lease by giving Tenant no
less than ten (10) days’ notice of such termination and the Term shall terminate and all rights and obligations of Tenant under this Lease shall cease, subject to any provisions that expressly survive the Expiration Date, (y) seek
damages as provided in Section 16.3 hereof or (z) except to the extent expressly otherwise provided under this Lease, exercise any other right or remedy hereunder, at law or in equity available to Landlord as a result
of any Tenant Event of Default. Tenant shall pay as Additional Charges all costs and expenses incurred by or on behalf of Landlord, including reasonable and documented attorneys’ fees and expenses, as a result of any Tenant Event of Default
hereunder. Subject to Article XIX and Section 17.1(f) hereof, at any time upon or following the Expiration Date, Tenant shall, if required by Landlord to do so, immediately surrender to Landlord possession of the
Leased Property and quit the same and Landlord may enter upon and repossess such Leased Property by reasonable force, summary proceedings, ejectment or otherwise, and may remove Tenant and all other Persons and any of Tenant’s Property
therefrom. Landlord shall refrain from exercising any remedies pursuant to this Section during any applicable cure periods of Guarantor to the extent expressly provided in Section 17.2 of the MLSA. 

(a) None of (i) the termination of this Lease, (ii) the repossession of the Leased Property, (iii) the failure of Landlord to
relet the Leased Property or any portions thereof, (iv) the reletting of all or any portion of the Leased Property, or (v) the inability of Landlord to collect or receive any rentals due upon any such reletting, shall relieve Tenant of its
liabilities and obligations hereunder, all of which shall survive any such termination, repossession or reletting. Landlord and Tenant agree that Landlord shall have no obligation to mitigate Landlord’s damages under this Lease. 

(b) If this Lease shall terminate pursuant to Section 16.2(x) or if Landlord shall obtain a court order permitting reentry following
the occurrence of a Tenant Event of Default that is continuing, then, in any such event, Landlord or Landlord’s agents and employees may immediately or at any time thereafter reenter the Leased Property to the extent permitted by law (including
applicable Gaming Regulations), either by summary dispossess proceedings or by any suitable action or proceeding at law, without being liable to indictment, prosecution or damages therefor, and may repossess the same, and may remove any Person
therefrom, to the end that Landlord may have, hold and enjoy the Leased Property. The words “enter,” “reenter,” “entry” and “reentry,” as used herein, are not restricted to their technical legal meanings. 

(c) Notwithstanding anything herein to the contrary, if this Lease has been terminated by Landlord pursuant to this
Section 16.2 and Manager is performing Transition Services (as defined in the Transition Services Agreement) as elected by Landlord in its sole discretion, then, at Landlord’s election in accordance with the Transition
Services Agreement, Tenant (and its Subsidiaries, as applicable) shall stay in occupancy of the Leased Property following the Expiration Date and continue to operate the Facility, collect and retain revenue therefrom, and pay Rent and Additional
Charges (without duplication of any Rent and Additional 

  
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Charges required to be paid under Section 16.3), all in the manner required under Section 36.1, mutatis mutandis, for so long as Manager
is performing Transition Services; provided, however, that Tenant shall have no obligation (unless specifically agreed to by Tenant) to operate the Leased Property (or pay any such Rent) under such arrangement unless the Transition
Period is then continuing. 
 16.3 Damages. 

(a) If Landlord elects to terminate this Lease in writing upon a Tenant Event of Default during the Term, Tenant shall forthwith (x) pay
to Landlord all Rent due and payable under this Lease to and including the date of such termination (together with interest thereon at the Overdue Rate from the date the applicable amount was due), and (y) pay on demand all damages to which
Landlord shall be entitled at law or in equity, provided, however, Landlord’s damages with regard to unpaid Rent from and after the date of termination shall equal, as liquidated and agreed current damages in respect thereof, the
sum of: (A) the worth at the time of award of the amount by which the unpaid Rent that (if the Lease had not been terminated) would have been payable hereunder after termination until the time of award exceeds the amount of such Rent loss that
Tenant proves could have been reasonably avoided; plus (B) (x) the Rent which (if the Lease had not been terminated) would have been payable hereunder from the time of award until the then Stated Expiration Date, discounted to present value by
applying a discount rate equal to the discount rate of the Federal Reserve Bank of New York at the time of award, plus one percent (1%), less (y) the Rent loss from the time of the award until the then Stated Expiration Date that Tenant proves
could be reasonably avoided, discounted to present value by applying a discount rate equal to the discount rate of the Federal Reserve Bank of New York at the time of award, plus one percent (1%). As used in clause (A), the “worth at the time
of award” shall be computed by allowing interest at the Overdue Rate from the date the applicable amount was due. As used in clauses (A) and (B), Variable Rent that would have been payable after termination for the remainder of the Term
shall be determined based on: (1) if the date of termination occurs during a Variable Rent Payment Period, the Variable Rent amount payable during such Variable Rent Payment Period (if the Lease had not been terminated), and (2) if the
date of termination occurs prior to the commencement of any Variable Rent Payment Period, the Variable Rent that (if the Lease had not been terminated) would be payable after termination for the remainder of the Term, assuming Net Revenue for the
balance of the Term equals Net Revenue for the Fiscal Period ending immediately prior to the date of termination (it being understood the foregoing calculation of damages for unpaid Rent applies only to the amount of unpaid Rent damages owed to
Landlord pursuant to Tenant’s obligation to pay Rent hereunder and does not prohibit or otherwise shall not limit Landlord from seeking damages for any indemnification or any other obligations of Tenant hereunder, with all such rights of
Landlord reserved). 
 (b) Notwithstanding anything otherwise set forth herein, if Landlord chooses not to terminate Tenant’s right to
possession of the Leased Property (whether or not Landlord terminates this Lease) and has not been paid damages in accordance with Section 16.3(a), then each installment of Rent and all other sums payable by Tenant to or for the benefit of
Landlord under this Lease shall be payable as the same otherwise becomes due and payable, together with, if any such amount is not paid when due, interest at the Overdue Rate from the date when due until paid, and Landlord may enforce, by action or
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Lease (and Landlord may at any time thereafter terminate Tenant’s right to possession of the Leased Property and seek damages under Section 16.3(a), to the extent not already paid for
by Tenant under Section 16.3(a) or this Section 16.3(b)). 
 (c) If, as of the date of any termination of this Lease pursuant
to Section 16.2(x), the Leased Property shall not be in the condition in which Tenant has agreed to surrender the same to Landlord at the expiration or earlier termination of this Lease, then Tenant, shall pay, as damages therefor, the cost
(as estimated by an independent contractor reasonably selected by Landlord) of placing the Leased Property in the condition in which Tenant is required to surrender the same hereunder. 

16.4 Receiver. Subject to the rights of Permitted Leasehold Mortgagees hereunder, upon the occurrence and continuance of
a Tenant Event of Default, and upon commencement of proceedings to enforce the rights of Landlord hereunder, but subject to any limitations of applicable law (including Gaming Regulations), Landlord shall be entitled, as a matter of right, to the
appointment of a receiver or receivers acceptable to Landlord of the Leased Property and of the revenues, earnings, income, products and profits thereof, pending the outcome of such proceedings, with such powers as the court making such appointment
shall confer. 
 16.5 Waiver. If Landlord initiates judicial proceedings or if this Lease is terminated by Landlord
pursuant to this Article XVI, Tenant waives, to the extent permitted by applicable law, (i) any right of redemption, re-entry or repossession or similar laws for the benefit of Tenant; and
(ii) the benefit of any laws now or hereafter in force exempting property from liability for rent or for debt. 
 16.6
Application of Funds. Any payments received by Landlord under any of the provisions of this Lease during the existence or continuance of any Tenant Event of Default which are made to Landlord rather than Tenant due to the existence of
a Tenant Event of Default shall be applied to Tenant’s obligations in the order which Landlord may reasonably determine or as may be prescribed by applicable Legal Requirements. 

16.7 Landlord’s Right to Cure Tenant’s Default. If
Tenant shall fail to make any payment or to perform any act required to be made or performed hereunder when due including, without limitation, if Tenant fails to expend any Required Capital Expenditures as required hereunder or fails to complete any
work or restoration or replacement of any nature as required hereunder, or if Tenant shall take any action prohibited hereunder, or if Tenant shall breach any representation or warranty comprising Additional Fee Mortgagee Requirements (and Landlord
reasonably determines that such breach could be expected to give rise to an event of default or an indemnification obligation of Landlord under the applicable Fee Mortgage), or Tenant fails to comply with any Additional Fee Mortgagee Requirements
(other than representations and warranties), in all cases, after the expiration of any cure period provided for herein, Landlord, without waiving or releasing any obligation or default, may, but shall be under no obligation to, (i) make such
payment or perform such act for the account and at the expense of Tenant (including, in the event of a breach of any such representation or warranty, taking actions to cause such representation or warranty to be true), and may, to the extent
permitted by law, enter upon the Leased Property for such purpose and take all such action thereon as, in 

  
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Landlord’s reasonable opinion, may be necessary or appropriate therefor, and, (ii) subject to the terms of the applicable Fee Mortgagee Documents, use funds in any Fee Mortgage Reserve
Account for the purposes for which they were deposited in making any such payment or performing such act. All sums so paid by Landlord and all costs and expenses, including reasonable attorneys’ fees and expenses, so incurred, together with
interest thereon at the Overdue Rate from the date on which such sums or expenses are paid or incurred by Landlord, shall be paid by Tenant to Landlord on demand as an Additional Charge. 

16.8 Miscellaneous. 

(a) Suit or suits for the recovery of damages, or for any other sums payable by Tenant to Landlord pursuant to this Lease, may be brought by
Landlord from time to time at Landlord’s election, and nothing herein contained shall be deemed to require Landlord to await the date whereon this Lease and the Term would have expired by limitation had there been no Tenant Event of Default,
reentry or termination. 
 (b) No failure by either Party to insist upon the strict performance of any agreement, term, covenant or
condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance by Landlord of full or partial Rent during the continuance of any such breach, shall constitute a waiver of any such breach or of such
agreement, term, covenant or condition. No agreement, term, covenant or condition of this Lease to be performed or complied with by either Party, and no breach thereof, shall be or be deemed to be waived, altered or modified except by a written
instrument executed by the Parties. No waiver of any breach shall affect or alter this Lease, but each and every agreement, term, covenant and condition of this Lease shall continue in full force and effect with respect to any other then existing or
subsequent breach thereof. In the event Landlord claims in good faith that Tenant has breached any of the agreements, terms, covenants or conditions contained in this Lease, Landlord shall be entitled to seek to enjoin such breach or threatened
breach and shall have the right to invoke any rights and remedies allowed at law or in equity or by statute or otherwise as though reentry, summary proceedings or other remedies were not provided for in this Lease. 

(c) Except to the extent otherwise expressly provided in this Lease, each right and remedy of a Party provided for in this Lease shall be
cumulative and shall be in addition to every other right or remedy provided for in this Lease. 
 (d) Nothing contained in this Article
XVI or otherwise shall vitiate or limit Tenant’s obligation to pay Landlord’s attorneys’ fees as and to the extent provided in Article XXXVII hereof, or any indemnification obligations under any express indemnity made by
Tenant of Landlord or of any Landlord Indemnified Parties as contained in this Lease. 

  
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 ARTICLE XVII 

TENANT FINANCING 
 17.1
Permitted Leasehold Mortgagees. 
 (a) Tenant May Mortgage the Leasehold Estate. On one or more occasions, without
Landlord’s consent, Tenant may mortgage or otherwise encumber Tenant’s estate in and to the Leased Property (the “Leasehold Estate”) (or encumber the direct or indirect Equity Interests in Tenant) to one or more Permitted
Leasehold Mortgagees under one or more Permitted Leasehold Mortgages and pledge its right, title and interest under this Lease as security for such Permitted Leasehold Mortgages or any related agreement secured thereby, provided,
however, that, (i) in order for a Permitted Leasehold Mortgagee to be entitled to the rights and benefits pertaining to Permitted Leasehold Mortgagees pursuant to this Article XVII, such Permitted Leasehold Mortgagee must hold or
benefit from a Permitted Leasehold Mortgage encumbering all of Tenant’s Leasehold Estate granted to Tenant under this Lease (subject to exclusions with respect to items that are not capable of being mortgaged and that, in the aggregate, are de
minimis) or at least eighty percent (80%) of the direct or indirect Equity Interests in Tenant at any tier of ownership, and (ii) no Person shall be deemed to be a Permitted Leasehold Mortgagee hereunder unless and until (a) such Person
delivers a written agreement to Landlord providing that in the event of a termination of this Lease by Landlord pursuant to Section 16.2(x) hereof, such Permitted Leasehold Mortgagee and any Persons for whom it acts as representative, agent
or trustee, will not use or dispose of any Gaming License for use at a location other than at the Facility to which such Gaming License relates as of the date of the closing of a Lease Foreclosure Transaction (or, in the case of any additional
facility added to this Lease after such date, as of the date that such additional facility is added to the Lease), (b) the applicable Permitted Leasehold Mortgage shall include an express acknowledgement that any exercise of remedies thereunder that
would affect the Leasehold Estate shall be subject and subordinate to the terms of this Lease and (c) such Person executes a joinder to the Intercreditor Agreement in form and substance reasonably acceptable to all parties thereto. Tenant
represents and warrants that each Permitted Leasehold Mortgagee as of the Commencement Date has entered into the Intercreditor Agreement. Furthermore, as a condition to being deemed a Permitted Leasehold Mortgagee hereunder, each Permitted Leasehold
Mortgagee is deemed to acknowledge and agree (and hereby does acknowledge and agree) that (x) any rejection of this Lease in any bankruptcy, insolvency, dissolution or other proceeding will be treated as a
Non-Consented Lease Termination (as defined in the MLSA), unless in connection with such rejection of this Lease such Permitted Leasehold Mortgagee has acted in accordance with Section 17.1(f) hereof to
obtain a New Lease prior to the expiration of the period described therein, (y) subject to the terms and conditions of the Intercreditor Agreement, such Permitted Leasehold Mortgagee shall not take any action to prevent the rights of Landlord,
Manager and Lease Guarantor under Article XXI of the MLSA, including to effect the actions required in connection with a Replacement Structure (as defined therein), and (z) that any foreclosure or realization by any Permitted Leasehold
Mortgagee pursuant to a Permitted Leasehold Mortgage or upon Tenant’s interest under this Lease or that would result in a transfer of all or any portion of Tenant’s interest in the Leased Property or this Lease shall in any case be subject
to the applicable provisions, terms and conditions of Article XXII hereof. 

  
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 (b) Notice to Landlord. 

(i) If Tenant shall, on one or more occasions, mortgage Tenant’s Leasehold Estate pursuant to a Permitted Leasehold
Mortgage and if the holder of such Permitted Leasehold Mortgage shall provide Landlord with written notice of such Permitted Leasehold Mortgage (which notice with respect to any Permitted Leasehold Mortgage not evidenced by a recorded security
instrument, in order to be effective, shall also state (or be accompanied by a notice of Tenant stating) the relative priority of all then-effective Permitted Leasehold Mortgages noticed to Landlord under this Section and shall be consented to in
writing by all then-existing Permitted Leasehold Mortgagees) together with a true copy of such Permitted Leasehold Mortgage and the name and address of the Permitted Leasehold Mortgagee, Landlord and Tenant agree that, following receipt of such
written notice by Landlord (which notice shall be accompanied by any items required pursuant to Section 17.1(a) above), the provisions of this Section 17.1 shall apply to each such Permitted Leasehold Mortgage. In
the event of any assignment of a Permitted Leasehold Mortgage or in the event of a change of address of a Permitted Leasehold Mortgagee or of an assignee of such Permitted Leasehold Mortgage, written notice of such assignment or change of address
and of the new name and address shall be provided to Landlord, and the provisions of this Section 17.1 shall continue to apply, provided such assignee is a Permitted Leasehold Mortgagee. 

(ii) Landlord shall reasonably promptly following receipt of a communication purporting to constitute the notice provided for
by subsection (b)(i) above (and such additional items requested by Landlord pursuant to the first sentence of Section 17.1(b)(iii)) acknowledge by written notice receipt of such communication as constituting the notice provided for by
subsection (b)(i) above and confirming the status of the Permitted Leasehold Mortgagee as such or, in the alternative, notify Tenant and the Permitted Leasehold Mortgagee of the rejection of such communication and any such items as not conforming
with the provisions of this Section 17.1 and specify the specific basis of such rejection. 
 (iii)
After Landlord has received the notice provided for by subsection (b)(i) above, Tenant shall with reasonable promptness provide Landlord with copies of the Permitted Leasehold Mortgage, note or other obligations secured by such Permitted Leasehold
Mortgage and any other documents pertinent to the Permitted Leasehold Mortgage reasonably requested by Landlord. Tenant shall thereafter also provide Landlord from time to time with a copy of each material amendment or other modification or
supplement to such instruments. All recorded documents shall be accompanied by the appropriate recording stamp or other certification of the custodian of the relevant recording office as to their authenticity as true and correct copies of official
records and all nonrecorded documents shall be accompanied by a certification by Tenant that such documents are true and correct copies of the originals. From time to time upon being requested to do so by Landlord, Tenant shall also notify Landlord
of the date and place of recording and other pertinent recording data with respect to such instruments as have been recorded. 

  
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 (iv) Notwithstanding the requirements of this Section 17.1(b), it is
agreed and acknowledged that Tenant’s Initial Financing (and the mortgages, security agreements and/or other loan documents in connection therewith) as of the date of this Lease shall be deemed a Permitted Leasehold Mortgage (with respect to
which notice has been properly provided to Landlord pursuant to Section 17.1(b)(i)) without the requirement that Tenant or Landlord comply with the initial requirements set forth in clauses (i) through (iii) above, (but, for the
avoidance of doubt, Tenant’s Initial Financing is not relieved of the requirement that it satisfy the requirements of Section 17.1(a), the last sentence of Section 17.1(b)(i)). In addition, for the avoidance of doubt, the Parties
confirm that Tenant shall not be relieved of the requirement to comply with the final three (3) sentences of Section 17.1(b)(iii) with respect to Tenant’s Initial Financing or any other financing with a Permitted Leasehold
Mortgagee. 
 (c) Default Notice to Permitted Leasehold Mortgagee. Landlord, upon providing Tenant any notice of default under
this Lease, shall at the same time provide a copy of such notice to every Permitted Leasehold Mortgagee for which notice has been properly provided to Landlord pursuant to Section 17.1(b)(i) hereof. No such notice by Landlord to Tenant shall
be deemed to have been duly given unless and until a copy thereof has been sent, in the manner prescribed in Article XXXV of this Lease, to every such Permitted Leasehold Mortgagee for which notice has been properly provided to Landlord
pursuant to Section 17.1(b)(i) hereof. From and after the date such notice has been sent to a Permitted Leasehold Mortgagee, such Permitted Leasehold Mortgagee shall have the same period, with respect to its remedying any default or acts or
omissions which are the subject matter of such notice or causing the same to be remedied, as is given Tenant after the giving of such notice to Tenant, plus in each instance, the additional periods of time specified in subsections (d) and (e)
of this Section 17.1 to remedy or cause to be remedied the defaults or acts or omissions which are the subject matter of such notice specified in any such notice. Landlord shall accept such performance by or at the
instigation of such Permitted Leasehold Mortgagee as if the same had been done by Tenant. Tenant authorizes each such Permitted Leasehold Mortgagee (to the extent such action is authorized under the applicable loan documents to which it acts as a
lender, noteholder, investor, agent, trustee or representative) to take any such action at such Permitted Leasehold Mortgagee’s option and does hereby authorize entry upon the Leased Property by the Permitted Leasehold Mortgagee for such
purpose. 
 (d) Right to Terminate Notice to Permitted Leasehold Mortgagee. Anything contained in this Lease to the contrary
notwithstanding, if any Tenant Event of Default shall occur which entitles Landlord to terminate this Lease, Landlord shall have no right to terminate this Lease on account of such Tenant Event of Default unless Landlord shall notify every Permitted
Leasehold Mortgagee for which notice has been properly provided to Landlord pursuant to Section 17.1(b) hereof that the period of time given Tenant to cure such default or act or omission has lapsed and, accordingly, Landlord has the right to
terminate this Lease (“Right to Terminate Notice”). The provisions of subsection (e) below of this Section 17.1 shall apply if, during (x) the thirty (30) day period following Landlord’s
delivery of the Right to Terminate 

  
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Notice if such Tenant Event of Default is capable of being cured by the payment of money, or (y) the ninety (90) day period following Landlord’s delivery of the Right to Terminate
Notice, if such Tenant Event of Default is not capable of being cured by the payment of money, any Permitted Leasehold Mortgagee shall: 

(i) notify Landlord of such Permitted Leasehold Mortgagee’s desire to nullify such Right to Terminate Notice; 

(ii) pay or cause to be paid all Rent, Additional Charges, and other payments (A) then due and in arrears as specified in
the Right to Terminate Notice to such Permitted Leasehold Mortgagee, and (B) which may become due during such thirty (30) or ninety (90) day (as the case may be) period (as and when the same may become due); and 

(iii) comply with or in good faith, with reasonable diligence and continuity, commence to comply with all nonmonetary
requirements of this Lease then in default and reasonably susceptible of being complied with by such Permitted Leasehold Mortgagee (e.g., defaults that are not personal to Tenant hereunder); provided, however, that such Permitted
Leasehold Mortgagee shall not be required during such ninety (90) day period to cure or commence to cure any default consisting of Tenant’s failure to satisfy and discharge any lien, charge or encumbrance against Tenant’s interest in
this Lease or the Leased Property or any of Tenant’s other assets that is/are (x) junior in priority to the lien of the mortgage or other security documents held by such Permitted Leasehold Mortgagee and (y) would be extinguished by
the foreclosure of the Permitted Leasehold Mortgage that is held by such Permitted Leasehold Mortgagee; and 
 (iv) during
such thirty (30) or ninety (90) day period, the Permitted Leasehold Mortgagee shall respond, with reasonable diligence, to requests for information from Landlord as to the Permitted Leasehold Mortgagee’s (and related lender’s)
intent to pay such Rent and other charges and comply with this Lease. 
 If the applicable default shall be cured pursuant to the terms and within the time
periods allowed in this Section 17.1(d), this Lease shall continue in full force and effect as if Tenant had not defaulted under the Lease. If a Permitted Leasehold Mortgagee shall fail to take all of the actions described in this Section
17.1(d) prior to the deadlines set forth herein, such Permitted Leasehold Mortgagee shall have no further rights under this Section 17.1(d) or Section 17.1(e). 

(e) Procedure on Default. 

(i) If Landlord shall elect to terminate this Lease by reason of any Tenant Event of Default that has occurred and is
continuing and a Permitted Leasehold Mortgagee shall have proceeded in the manner provided for by subsection (d) of this Section 17.1, the applicable cure periods available pursuant to Section 17.1(d) above
shall continue to be extended so long as during such continuance: 
 (1) such Permitted Leasehold Mortgagee shall pay or
cause to be paid the Rent, Additional Charges and other monetary obligations of Tenant under this Lease as the same become due, and continue its good faith efforts to perform or 

  
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cause to be performed all of Tenant’s other obligations under this Lease, excepting (A) obligations of Tenant to satisfy or otherwise discharge any lien, charge or encumbrance against
Tenant’s interest in this Lease or the Leased Property or any of Tenant’s other assets that is/are (x) junior in priority to the lien of the mortgage or other security documents held by such Permitted Leasehold Mortgagee and
(y) would be extinguished by the foreclosure of the Permitted Leasehold Mortgage that is held by such Permitted Leasehold Mortgagee and (B) past non-monetary obligations then in default and not
reasonably susceptible of being cured by such Permitted Leasehold Mortgagee; and 
 (2) subject to and in accordance with
Section 22.2(i), if not enjoined or stayed pursuant to a bankruptcy or insolvency proceeding or other judicial order, such Permitted Leasehold Mortgagee shall diligently continue to pursue acquiring or selling Tenant’s interest in this
Lease and the Leased Property (or, to the extent applicable, the direct or indirect interests in Tenant) by foreclosure of the Permitted Leasehold Mortgage or other appropriate means and diligently prosecute the same to completion. 

(ii) Without limitation of Tenant’s right to deliver a Renewal Notice, it is agreed that a Permitted Leasehold Mortgagee
also shall have the right to deliver a Renewal Notice on behalf of Tenant during any period in which such Permitted Leasehold Mortgagee is complying with Section 17.1(d) or 17.1(e). 

(iii) If a Permitted Leasehold Mortgagee is complying with subsection (e)(i) of this Section 17.1,
upon the acquisition of Tenant’s Leasehold Estate (or, to the extent applicable, the direct or indirect interests in Tenant) herein by such Permitted Leasehold Mortgagee, a Permitted Leasehold Mortgagee Designee or an assignee thereof permitted
by Section 22.2(i) hereof, this Lease shall continue in full force and effect as if Tenant had not defaulted under this Lease provided that such successor cures all outstanding defaults that can be cured through the payment of money and all
other defaults that are reasonably susceptible of being cured as provided in said subsection (e)(i). 
 (iv) For the purposes
of this Section 17.1, no Permitted Leasehold Mortgagee shall be deemed to be an assignee or transferee of this Lease or of the Leasehold Estate hereby created by virtue of the Permitted Leasehold Mortgage so as to require
such Permitted Leasehold Mortgagee, as such, to assume the performance of any of the terms, covenants or conditions on the part of Tenant to be performed hereunder; but the purchaser at any sale of this Lease (or, to the extent applicable, the
direct or indirect interests in Tenant) (including a Permitted Leasehold Mortgagee if it is the purchaser at foreclosure) and of the Leasehold Estate hereby created in any proceedings for the foreclosure of any Permitted Leasehold Mortgage, or the
assignee or transferee of this Lease and of the Leasehold Estate hereby created (or, to the extent applicable, the direct or indirect interests in Tenant) under any instrument of assignment or transfer in lieu of the foreclosure of any Permitted
Leasehold Mortgage, shall be subject to all of the provisions, terms and conditions of this Lease including, without limitation, Section 22.2(i) hereof. 

  
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 (v) Notwithstanding any other provisions of this Lease, any Permitted Leasehold
Mortgagee, Permitted Leasehold Mortgagee Designee or other acquirer of the Leasehold Estate of Tenant (or, to the extent applicable, the direct or indirect interests in Tenant) in accordance with the requirements of Section 22.2(i) of this
Lease pursuant to foreclosure, assignment in lieu of foreclosure or other similar proceedings of this Lease may, upon acquiring Tenant’s Leasehold Estate (or, to the extent applicable, the direct or indirect interests in Tenant), without
further consent of Landlord, (x) sell and assign interests in the Leasehold Estate (or, to the extent applicable, the direct or indirect interests in Tenant) as and to the extent provided in this Lease, and (y) enter into Permitted
Leasehold Mortgages in the same manner as the original Tenant, as and to the extent provided in this Lease, in each case under clause (x) or (y), subject to the terms of this Lease, including Article XVII and Section 22.2(i)
hereof. 
 (vi) Notwithstanding any other provisions of this Lease, any sale of this Lease and of the Leasehold Estate hereby
created (or, to the extent applicable, the direct or indirect interests in Tenant) in any proceedings for the foreclosure of any Permitted Leasehold Mortgage, or the assignment or transfer of this Lease and of the Leasehold Estate hereby created
(or, to the extent applicable, the direct or indirect interests in Tenant) in lieu of the foreclosure of any Permitted Leasehold Mortgage, shall, solely if and to the extent such sale, assignment or transfer complies with the requirements of
Section 22.2(i) hereof, be deemed to be a permitted sale, transfer or assignment of this Lease; provided, that the foreclosing Permitted Leasehold Mortgagee or purchaser at foreclosure sale or successor purchaser must either
(a) become a party to the MLSA pursuant to Section 11.1 and Section 13.1 of the MLSA (or, in the case of a foreclosure on or transfer of direct or indirect interests in Tenant, Tenant must remain a party to the MLSA) and satisfy the
requirements set forth in Section 22.2(i)(1)(B) and Section 22.2(i)(2) through (5) or (b) satisfy the requirements set forth in Section 22.2(i)(1)(A) and Sections 22.2(i)(2) through (5). 

(f) New Lease. In the event that this Lease is rejected in any bankruptcy, insolvency or dissolution proceeding or is terminated
by Landlord following a Tenant Event of Default other than due to a default that is subject to cure by a Permitted Leasehold Mortgagee under Section 17.1(d) and Section 17.1(e) above, Landlord shall provide each Permitted Leasehold
Mortgagee with written notice that this Lease has been rejected or terminated (“Notice of Termination”), and, for the avoidance of doubt, upon delivery of such Notice of Termination, no Permitted Leasehold Mortgagee shall have the
rights as described in Section 17.1(d) and Section 17.1(e) above, but rather such Permitted Leasehold Mortgagee instead shall have the rights described in this Section 17.1(f)). Following any such rejection or termination,
Landlord agrees to enter into a new lease (“New Lease”) of the Leased Property with such Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee for the remainder of the term of this Lease, effective as of the
date of termination, at the rent and additional rent, and upon the terms, covenants and conditions (including all then-remaining options to renew but excluding requirements which have already been fulfilled) of this Lease, provided: 

(i) such Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee shall comply with the applicable terms of
Section 22.2; 

  
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 (ii) such Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee
Designee shall make a binding, written, irrevocable commitment to Landlord for such New Lease within thirty (30) days after the date such Permitted Leasehold Mortgagee receives Landlord’s Notice of Termination of this Lease given pursuant
to this Section 17.1(f); 
 (iii) such Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee
shall pay or cause to be paid to Landlord at the time of the execution and delivery of such New Lease, any and all sums which would at the time of execution and delivery thereof be due pursuant to this Lease but for such rejection or termination
(including, for avoidance of doubt, any amounts that become due prior to and remained unpaid as of the date of the Notice of Termination) and, in addition thereto, all reasonable expenses, including reasonable documented attorney’s fees, which
Landlord shall have incurred by reason of such rejection or such termination and the execution and delivery of the New Lease and which have not otherwise been received by Landlord from Tenant or other party in interest under Tenant; and 

(iv) such Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee shall agree to remedy any of
Tenant’s defaults of which said Permitted Leasehold Mortgagee was notified by Landlord’s Notice of Termination (or in any other written notice of Landlord) and which can be cured through the payment of money or, if such defaults cannot be
cured through the payment of money, are reasonably susceptible of being cured by Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee. 

(g) New Lease Priorities. If more than one Permitted Leasehold Mortgagee shall request a New Lease pursuant to subsection
(f)(i) of this Section 17.1, Landlord shall enter into such New Lease with the Permitted Leasehold Mortgagee whose mortgage is senior in lien, or with its Permitted Leasehold Mortgagee Designee acting for the benefit of
such Permitted Leasehold Mortgagee prior in lien foreclosing on Tenant’s interest in this Lease. Landlord, without liability to Tenant or any Permitted Leasehold Mortgagee with an adverse claim, may rely upon (i) with respect to any
Permitted Leasehold Mortgage evidenced by a recorded security instrument, a title insurance policy (or, if elected by Landlord in its sole discretion, a title insurance commitment, certificate of title or other similar instrument) issued by a
reputable title insurance company as the basis for determining the appropriate Permitted Leasehold Mortgagee who is entitled to such New Lease or (ii) with respect to any Permitted Leasehold Mortgage not evidenced by a recorded security
instrument, the statement with respect to relative priority of Permitted Leasehold Mortgages contained in the applicable notice delivered pursuant to Section 17.1(b)(i), provided that any such statement that provides that any such Permitted
Leasehold Mortgage described in this clause (ii) is senior or prior to any Permitted Leasehold Mortgage evidenced by a recorded security instrument shall only be effective to the extent it is consented to in writing by the Permitted Leasehold
Mortgagee in respect of such Permitted Leasehold Mortgage evidenced by a recorded security instrument. 
 (h) Permitted Leasehold
Mortgagee Need Not Cure Specified Defaults. Nothing herein contained shall require any Permitted Leasehold Mortgagee to cure any Incurable Default in order to comply with the provisions of Sections 17.1(d) and 17.1(e), or as a
condition of 

  
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entering into the New Lease provided for by Section 17.1(f). For the avoidance of doubt, upon such foreclosure and/or the effectuation of such a New Lease in accordance with the
provisions, terms and conditions hereof, any such defaults are automatically deemed waived through the effective date of such foreclosure or New Lease as to any such Permitted Leasehold Mortgagee or its Permitted Leasehold Mortgagee Designee, as the
new tenant hereunder or under the New Lease, as applicable (it being understood that the provisions of this sentence shall not be deemed to relieve such new tenant of its obligations to comply with this Lease or such New Lease from and after the
effective date of such foreclosure or New Lease). 
 (i) Casualty Loss. A standard mortgagee clause naming each Permitted
Leasehold Mortgagee for which notice has been properly provided to Landlord pursuant to Section 17.1(b) hereof may be added to any and all insurance policies required to be carried by Tenant hereunder on condition that (and, in all events,
Tenant agrees that) the insurance proceeds are to be applied in the manner specified in this Lease and the Permitted Leasehold Mortgage shall so provide; except that the Permitted Leasehold Mortgage may provide a manner for the disposition of such
proceeds, if any, otherwise payable directly to Tenant (but not such proceeds, if any, payable jointly to Landlord and Tenant or to Landlord, to the Fee Mortgagee or to a third-party escrowee) pursuant to the provisions of this Lease. 

(j) Arbitration; Legal Proceedings. Landlord shall give prompt notice to each Permitted Leasehold Mortgagee (for which notice
has been properly provided to Landlord pursuant to Section 17.1(b) hereof) of any arbitration (including a determination of Fair Market Ownership Value or Fair Market Base Rental Value) or legal proceedings between Landlord and Tenant
involving obligations under this Lease. 
 (k) Notices. Notices from Landlord to the Permitted Leasehold Mortgagee for which
notice has been properly provided to Landlord pursuant to Section 17.1(b) hereof shall be provided in the method provided in Article XXXV hereof to the address furnished Landlord pursuant to subsection (b) of this
Section 17.1, and those from the Permitted Leasehold Mortgagee to Landlord shall be mailed to the address designated pursuant to the provisions of Article XXXV hereof. Such notices, demands and requests shall be
given in the manner described in this Section 17.1 and in Article XXXV and shall in all respects be governed by the provisions of those sections. 

(l) Limitation of Liability. Notwithstanding any other provision hereof to the contrary, (i) Landlord agrees that any
Permitted Leasehold Mortgagee’s liability to Landlord in its capacity as Permitted Leasehold Mortgagee hereunder howsoever arising shall be limited to and enforceable only against such Permitted Leasehold Mortgagee’s interest in the
Leasehold Estate and the other collateral granted to such Permitted Leasehold Mortgagee to secure the obligations under the loan secured by the applicable Permitted Leasehold Mortgage, and (ii) each Permitted Leasehold Mortgagee agrees that
Landlord’s liability to such Permitted Leasehold Mortgagee hereunder howsoever arising shall be limited to and enforceable only against Landlord’s interest in the Leased Property, and no recourse against Landlord shall be had against any
other assets of Landlord whatsoever. 
 (m) Sale Procedure. If this Lease has been terminated, the Permitted Leasehold
Mortgagee for which notice has been properly provided to Landlord pursuant to Section 17.1(b) 

  
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hereof with the most senior lien on the Leasehold Estate shall have the right to make the determinations and agreements on behalf of Tenant under Article XXXVI, in each case, in accordance
with and subject to the terms and provisions of Article XXXVI. 
 (n) Third Party Beneficiary. Each Permitted Leasehold
Mortgagee (for so long as such Permitted Leasehold Mortgagee holds a Permitted Leasehold Mortgage) is an intended third-party beneficiary of this Article XVII entitled to enforce the same as if a party to this Lease. 

(o) The fee title to the Leased Property and the Leasehold Estate of Tenant therein created by this Lease shall not merge but shall remain
separate and distinct, notwithstanding the acquisition of said fee title and said Leasehold Estate by Landlord or by Tenant or by a third party, by purchase or otherwise. 

17.2 Landlord Cooperation with Permitted Leasehold Mortgage. If, in connection with granting any Permitted
Leasehold Mortgage or entering into an agreement relating thereto, Tenant shall request in writing (i) reasonable cooperation from Landlord or (ii) reasonable amendments or modifications to this Lease, in each case required to comply with
any reasonable request made by Permitted Leasehold Mortgagee, Landlord shall reasonably cooperate with such request, so long as (a) no Tenant Event of Default is continuing, (b) all reasonable documented out-of-pocket costs and expenses incurred by Landlord, including, but not limited to, its reasonable documented attorneys’ fees, shall be paid by Tenant, and (c) any requested action, including any
amendments or modification of this Lease, shall not (i) increase Landlord’s monetary obligations under this Lease by more than a de minimis extent, or increase Landlord’s non-monetary
obligations under this Lease in any material respect or decrease Tenant’s obligations in any material respect, (ii) diminish Landlord’s rights under this Lease in any material respect, (iii) adversely impact the value of the
Leased Property by more than a de minimis extent or otherwise have a more than de minimis adverse effect on the Leased Property, Tenant or Landlord, (iv) adversely impact Landlord’s (or any Affiliate of Landlord’s) tax treatment or
position, (v) result in this Lease not constituting a “true lease”, or (vi) result in a default under the Fee Mortgage Documents. 

ARTICLE XVIII 

TRANSFERS BY LANDLORD 

18.1 Transfers Generally. Landlord may sell, assign, transfer or convey, without Tenant’s consent, the Leased Property, in
whole (subject to exclusions for assets that may not be transferred and that, in the aggregate, are de minimis) but not in part (unless in part due to a transaction in which multiple Affiliates of a single Person (collectively, “Affiliated
Persons”) will own the Leased Property as tenants in common, but only if this Lease remains as a single, indivisible Lease and all such Landlord Affiliated Persons execute a joinder to this Lease as “Landlord”, on a joint and
several basis, the form and substance of which joinder shall be reasonably satisfactory to Tenant and Landlord) to a single transferee (such transferee, such tenants in common or any other permitted transferee of this Lease, in each case, an
“Acquirer”) and, in connection with such transaction, if the Acquirer is not an Affiliate of Landlord, (a) Landlord shall amend the minimum capital expenditure requirements hereunder (such amendment to be limited solely to the
amount of such minimum capital expenditure 

  
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requirements) such that, in the aggregate such minimum capital expenditure requirements hereunder (taken together with the Minimum Cap Ex Requirements under and as defined in the Other Leases,
after taking into consideration applicable reductions of the Minimum Cap Ex Requirements under and as defined in the Other Leases in the amount of the Minimum Cap Ex Reduction Amount), shall be no greater than the Minimum Cap Ex Requirements under
this Lease and the Other Leases prior to such sale, assignment, transfer or conveyance; and (b) such minimum capital expenditure requirements shall be calculated on an individual, standalone basis under this Lease and under the Other Leases;
except, however, the foregoing clauses (a) and (b) shall not apply to any transaction described in clause (iii) below. All Acquirers shall execute a joinder to the Intercreditor Agreement in form and substance reasonably acceptable to all
parties thereto. If Landlord (including any permitted successor Landlord) shall convey the Leased Property in accordance with the terms of this Lease, other than as security for a debt, and the applicable Acquirer expressly assumes all obligations
of Landlord arising after the date of the conveyance, Landlord shall thereupon be released from all future liabilities and obligations of Landlord under this Lease arising or accruing from and after the date of such conveyance or other transfer and
all such future liabilities and obligations shall thereupon be binding upon such applicable Acquirer. Without limitation of the preceding provisions of this Section 18.1, any or all of the following shall be freely
permitted to occur: (i) any transfer of the Leased Property, in whole but not in part (subject to exclusions for assets that may not be transferred and that, in the aggregate, are de minimis), to a Fee Mortgagee in accordance with the terms of
this Lease (including any transfer of the direct or indirect equity interests in Landlord), which transfer may include, without limitation, a transfer by foreclosure brought by the Fee Mortgagee or a transfer by a deed in lieu of foreclosure,
assignment in lieu of foreclosure or other transaction in lieu of foreclosure; (ii) a merger transaction or other similar disposition affecting Landlord REIT or a sale by Landlord REIT directly or indirectly involving the Leased Property (so
long as (x) upon consummation of such transaction, all of the Leased Property (subject to exclusions for assets that may not be transferred and that, in the aggregate, are de minimis) is owned by a single Person (or multiple Affiliated Persons
as tenants in common) and (y) such surviving Person(s) execute(s) an assumption of this Lease, the MLSA and all Lease/MLSA Related Agreements to which Landlord is a party, assuming all obligations of Landlord hereunder and thereunder) (in the
case of multiple Affiliated Persons, on a joint and several basis), the form and substance of which assumption shall be reasonably satisfactory to Tenant and Landlord); (iii) a sale/leaseback transaction by Landlord with respect to the entire Leased
Property (subject to exclusions for assets that may not be transferred and that, in the aggregate, are de minimis) (provided (x) the overlandlord under the resulting overlease agrees that, in the event of a termination of such overlease, this
Lease shall continue in effect as a direct lease between such overlandlord and Tenant and (y) the overlease shall not impose any new, additional or more onerous obligations on Tenant without Tenant’s prior written consent in Tenant’s
sole discretion (and without limiting the generality of the foregoing, the overlease shall not impose any additional monetary obligations (whether for payment of rents under such overlease or otherwise) on Tenant), subject to and in accordance with
all of the provisions, terms and conditions of this Lease; (iv) any sale of any indirect interest in the Leased Property that does not change the identity of Landlord hereunder, including without limitation a participating interest in
Landlord’s interest under this Lease or a sale of Landlord’s reversionary interest in the Leased Property so long as Landlord remains the only party with authority to bind Landlord under this Lease, or (v) a sale or transfer to an
Affiliate of Landlord or a joint venture entity in which any Affiliate of Landlord is the 

  
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managing member or partner, so long as (x) upon consummation of such transaction, all of the Leased Property (subject to exclusions for assets that may not be transferred and that, in the
aggregate, are de minimis) is owned by a single Person or multiple Affiliated Persons as tenants in common and (y) such Person(s) execute(s) an assumption of this Lease, the MLSA and all Lease/MLSA Related Agreements to which Landlord is a
party, assuming all obligations of Landlord hereunder and thereunder (in the case of multiple Affiliated Persons, on a joint and several basis), the form and substance of which assumption shall be reasonably satisfactory to Tenant and Landlord.
Notwithstanding anything to the contrary herein, Landlord shall not sell, assign, transfer or convey the Leased Property, or assign this Lease, to (I) a Tenant Prohibited Person (as defined in the MLSA), (II) a Manager Prohibited Person (as
defined in the MLSA), or (III) any Person that is associated with a Person who has been found “unsuitable”, denied a Gaming License or otherwise precluded from participation in the Gaming Industry by any Gaming Authority where such
association may adversely affect, any of Tenant’s or its Affiliates’ Gaming Licenses or Tenant’s or its Affiliates’ then-current standing with any Gaming Authority. Any transfer by Landlord under this Article XVIII shall
be subject to all applicable Legal Requirements, including any Gaming Regulations, and no such transfer shall be effective until any applicable approvals with respect to Gaming Regulations, if applicable, are obtained. Tenant shall attorn to and
recognize any successor Landlord in connection with any transfer(s) permitted under this Article XVIII as Tenant’s “landlord”. 

18.2 Intentionally Omitted. 

18.3 Intentionally Omitted. 

18.4 Transfers to Tenant Competitors. In the event that, and so long as, Landlord is a Tenant Competitor, then, notwithstanding
anything herein to the contrary, the following shall apply: 
 (a) Without limitation of Section 23.1(c) of this Lease, Tenant shall
not be required to (1) deliver the information required to be delivered to such Landlord pursuant to Section 23.1(b) hereof to the extent the same would give such Landlord a “competitive” advantage with respect to markets in
which such Landlord and Tenant or CEC might be competing at any time (it being understood that such Landlord shall retain audit rights with respect to such information to the extent required to confirm Tenant’s compliance with the terms of this
Lease) (and such Landlord shall be permitted to comply with Securities Exchange Commission, Internal Revenue Service and other legal and regulatory requirements with regard to such information) and provided that appropriate measures are in place to
ensure that only such Landlord’s auditors (which for this purpose shall be a “big four” firm designated by such Landlord) and attorneys (as reasonably approved by Tenant) (and not Landlord or any Affiliates of such Landlord or any
direct or indirect parent company of such Landlord or any Affiliate of such Landlord) are provided access to such information or (2) to provide information that is subject to the quality assurance immunity or is subject to attorney-client
privilege or the attorney work product doctrine. 

  
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 (b) Certain of Landlord’s consent or approval rights set forth in this Lease shall be
eliminated or modified, as follows: 
 (i) Clause (vii) of the definition of Primary Intended Use shall be deleted, and clause
(v) of the definition of Primary Intended Use shall be modified to read as follows: “(v) such other ancillary uses, but in all events consistent with the current use of the Leased Property or any portion thereof as of the Commencement Date
or with then-prevailing or innovative or state-of-the-art hotel, resort and gaming industry use, and/or”. 

(ii) Without limitation of the other provisions of Section 10.1(a), the approval of Landlord shall not be required under
(1) Section 10.1(a)(1) for Alterations and Capital Improvements in excess of Seventy-Five Million and No/100 Dollars ($75,000,000.00), and (2) Section 10.2(b) for approval of the Architect thereunder. 

(c) With respect to all consent, approval and decision-making rights granted to such Landlord under the Lease relating to competitively
sensitive matters pertaining to the use and operation of the Leased Property and Tenant’s business conducted thereat (other than any right of Landlord to grant waivers and amend or modify any of the terms of this Lease), such Landlord shall
establish an independent committee to evaluate, negotiate and approve such matters, independent from and without interference from such Landlord’s management or Board of Directors. Any dispute over whether a particular decision should be
determined by such independent committee shall be submitted for resolution by an Expert pursuant to Section 34.2 hereof. 

Tenant acknowledges and agrees that (x) as of the Commencement Date, Joliet Partner is a minority interest holder in Landlord and does
not Control Landlord; and (y) for so long as the circumstances in clause (x) continue and the Joliet Partner continues to own no more than twenty percent (20%) of the interest in Landlord, neither Landlord nor any of its Affiliates shall
be deemed to be a Tenant Competitor solely as a result of the circumstances in clause (x). 
 ARTICLE XIX 

HOLDING OVER 
 If Tenant
shall for any reason remain in possession of the Leased Property after the Expiration Date without the consent, or other than at the request, of Landlord, such possession shall be as a
month-to-month tenant during which time Tenant shall pay as Rent each month an amount equal to (a) two hundred percent (200%) of the monthly installment of Rent
applicable as of the Expiration Date, and (b) all Additional Charges and all other sums payable by Tenant pursuant to this Lease. During such period of
month-to-month tenancy, Tenant shall be obligated to perform and observe all of the terms, covenants and conditions of this Lease, but shall have no rights hereunder
other than the right, to the extent given by law to month-to-month tenancies, to continue its occupancy and use of the Leased Property. Nothing contained herein shall
constitute the consent, express or implied, of Landlord to the holding over of Tenant after the Expiration Date. This Article XIX is subject to Tenant’s rights and obligations under Article XXXVI below, and it is understood and
agreed that any possession of the Leased Property after the Expiration Date pursuant to such Article XXXVI shall not constitute a hold over subject to this Article XIX. 

  
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 ARTICLE XX 

RISK OF LOSS 
 The risk
of loss or of decrease in the enjoyment and beneficial use of the Leased Property or any part thereof as a consequence of the damage or destruction thereof by fire, the elements, casualties, thefts, riots, wars or otherwise, or in consequence of
foreclosures, attachments, levies or executions (other than by Landlord and Persons claiming from, through or under Landlord) during the Term is assumed by Tenant, and except as otherwise expressly provided herein no such event shall entitle Tenant
to any abatement of Rent. 
 ARTICLE XXI 

INDEMNIFICATION 

21.1 General Indemnification. 

(i) In addition to the other indemnities contained herein, and notwithstanding the existence of any insurance carried by or for
the benefit of Landlord or Tenant, and without regard to the policy limits of any such insurance, Tenant shall protect, indemnify, save harmless and defend Landlord and its principals, partners, officers, members, directors, shareholders, employees,
managers, agents and servants (collectively, the “Landlord Indemnified Parties”; each individually, a “Landlord Indemnified Party”), from and against all liabilities, obligations, claims, damages, penalties, causes
of action, costs and expenses, including reasonable documented attorneys’, consultants’ and experts’ fees and expenses, imposed upon or incurred by or asserted against the Landlord Indemnified Parties (excluding any indirect, special,
punitive or consequential damages as provided in Section 41.3) by reason of any of the following (in each case, other than to the extent resulting from Landlord’s gross negligence or willful misconduct or default
hereunder or the violation by Landlord of any Legal Requirement imposed against Landlord (including any Gaming Regulations, but excluding any Legal Requirement which Tenant is required to satisfy pursuant to the terms hereof or otherwise)):
(i) any accident, injury to or death of Persons or loss of or damage to property occurring on or about the Facility (or any part thereof) or adjoining sidewalks under the control of Tenant or any Subtenant; (ii) any use, misuse, non-use, condition, maintenance or repair by Tenant of the Facility (or any part thereof); (iii) any failure on the part of Tenant to perform or comply with any of the terms of this Lease; (iv) any claim
for malpractice, negligence or misconduct committed by Tenant or any Person on or from the Facility (or any part thereof); (v) the violation by Tenant of any Legal Requirement (including any Gaming Regulations) or Insurance Requirements;
(vi) the non-performance of any contractual obligation, express or implied, assumed or undertaken by Tenant with respect to the Facility (or any part thereof) or any business or other activity carried on
in relation to the Facility (or any part thereof) by Tenant; (vii) any lien or claim that may be asserted against the Facility (or any part thereof) arising from any failure by Tenant to perform its obligations hereunder or under any instrument
or agreement affecting the Facility (or any part thereof); and (viii) any third-party claim asserted against Landlord as a result of Landlord being a party to the MLSA or arising from Tenant’s or Manager’s or CEC’s

  
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failure to perform their respective obligations under the MLSA, in each case so long as such claim does not result from Landlord’s actions. Any amounts which become payable by Tenant under
this Article XXI shall be paid within ten (10) days after liability therefor is determined by a final non appealable judgment or settlement or other agreement of the Parties, and if not timely paid shall bear interest at the Overdue Rate
from the date of such determination to the date of payment. Tenant, with its counsel and at its sole cost and expense, shall contest, resist and defend any such claim, action or proceeding asserted or instituted against the Landlord Indemnified
Parties. For purposes of this Article XXI, any acts or omissions of Tenant or any Subtenant or any Subsidiary, as applicable, or by employees, agents, assignees, contractors, subcontractors or others acting for or on behalf of Tenant or any
Subtenant or any Subsidiary, as applicable (including, without limitation, Manager or anyone acting by, through or on behalf of Manager) (whether or not they are negligent, intentional, willful or unlawful), shall be strictly attributable to Tenant.

 (ii) Notwithstanding the existence of any insurance carried by or for the benefit of Landlord or Tenant, and without
regard to the policy limits of any such insurance, Landlord shall protect, indemnify, save harmless and defend Tenant and its principals, partners, officers, members, directors, shareholders, employees, managers, agents and servants (collectively,
the “Tenant Indemnified Parties”; each individually, a “Tenant Indemnified Party”) from and against all liabilities, obligations, claims, damages, penalties, causes of action, costs and expenses, including
reasonable documented attorneys’, consultants’ and experts’ fees and expenses, imposed upon or incurred by or asserted against the Tenant Indemnified Parties (excluding any indirect, special, punitive or consequential damages as
provided in Section 41.3) by reason of (A) Landlord’s gross negligence or willful misconduct hereunder, other than to the extent resulting from Tenant’s gross negligence or willful misconduct or default
hereunder, and (B) the violation by Landlord of any Legal Requirement imposed against Landlord (including any Gaming Regulations, but excluding any Legal Requirement which Tenant is required to satisfy pursuant to the terms hereof or
otherwise). Any amounts which become payable by Landlord under this Article XXI shall be paid within ten (10) days after liability therefor is determined by a final non appealable judgment or settlement or other agreement of the Parties,
and if not timely paid shall bear interest at the Overdue Rate from the date of such determination to the date of payment. Landlord, with its counsel and at its sole cost and expense, shall contest, resist and defend any such claim, action or
proceeding asserted or instituted against the Tenant Indemnified Parties. For purposes of this Article XXI, any acts or omissions of Landlord, or by employees, agents, contractors, subcontractors or others acting for or on behalf of Landlord
(whether or not they are negligent, intentional, willful or unlawful), shall be strictly attributable to Landlord. 
 21.2
Encroachments, Restrictions, Mineral Leases, etc. If any of the Leased Improvements shall encroach upon any property, street or right-of-way, or shall
violate any restrictive covenant or other similar agreement affecting the Leased Property, or any part thereof, or shall impair the rights of others under any easement or
right-of-way to which the Leased Property is subject, or the use of the Leased Property or any portion thereof is impaired, limited or interfered with by reason of the
exercise of the right of surface entry or any other provision of a lease or reservation of any oil, gas, water or other minerals, then, promptly upon the request of 

  
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Landlord or any Person affected by any such encroachment, violation or impairment (collectively, a “Title Violation”), Tenant, subject to its right to contest the existence of
any such encroachment, violation or impairment to the extent provided in this Lease, and without limitation of any of Tenant’s obligations otherwise set forth in this Lease (to the extent applicable), shall (i) in the case of any third
party claims (excluding for the avoidance of doubt those made by Affiliates of Landlord) based on or resulting from such Title Violation, protect, indemnify, save harmless and defend the Landlord Indemnified Parties from and against, with respect to
matters first arising from and after the Commencement Date, one hundred percent (100%) of, and with respect to matters existing as of the Commencement Date, fifty percent (50%) of, any and all losses, liabilities, obligations, claims, damages,
penalties, causes of action, costs and expenses (including reasonable documented attorneys’, consultants’ and experts’ fees and expenses) based on or arising by reason of any such third party claim based on or resulting from such
Title Violation; provided, however, that Tenant shall be required to so protect, indemnify, save harmless and defend the Landlord Indemnified Parties only to the extent that the proceeds from Landlord’s title insurance policies are not
sufficient to cover such losses, liabilities, obligations, claims, damages, penalties, causes of action, costs and expenses (it being understood that if Tenant pays any such amounts that are contemplated hereunder to be covered by Landlord’s
title insurance policies, then Tenant shall be subrogated to all or fifty percent (50%) of (as applicable) the rights of Landlord against its title insurance carriers and shall be entitled to, with respect to matters first arising from and after the
Commencement Date, one hundred percent (100%) of, and with respect to matters existing as of the Commencement Date, fifty percent (50%) of, the proceeds (net of Landlord’s
out-of-pocket costs incurred in obtaining such proceeds) from such title insurance policy related to such Title Violation; except, however, Tenant shall not be entitled
to receive proceeds from any such title insurance policies in excess of amounts actually paid by Tenant in connection therewith) and (ii) to the extent that no third party makes a claim with respect to such Title Violation, Landlord shall not
require Tenant to cure any of the foregoing matters unless it would have a material adverse effect on the Leased Property following expiration or termination of this Lease, and in the event Tenant so cures any such matters, (A) Tenant shall
bear with respect to matters first arising from and after the Commencement Date, one hundred percent (100%) of, and with respect to matters existing as of the Commencement Date, fifty percent (50%) of, the cost of such cure (after giving effect to
such title insurance proceeds), and (B) Tenant shall be subrogated to all or fifty percent (50%) of (as applicable) the rights of Landlord against its title insurance carriers and shall be entitled to, with respect to matters first arising from
and after the Commencement Date, one hundred percent (100%) of, and with respect to matters existing as of the Commencement Date, fifty percent (50%) of, the proceeds (net of Landlord’s out-of-pocket costs incurred in obtaining such proceeds) from such title insurance policy related to such Title Violation; except, however, Tenant shall not be entitled to receive proceeds from any such title
insurance policies in excess of amounts actually paid by Tenant in connection therewith. In the event of an adverse final determination with respect to any such encroachment, violation or impairment, (a) either of Tenant or Landlord shall
obtain valid and effective waivers or settlements of all claims, liabilities and damages resulting from each such encroachment, violation or impairment, or (b) Tenant shall make such changes in the Leased Improvements, and take such other
actions, in each case reasonably acceptable to Landlord, as Tenant in the good faith exercise of its judgment deems reasonably practicable, to remove such encroachment or to end such violation or impairment, including, if necessary, the alteration
of any of the Leased Improvements, and in any event take 

  
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all such actions as may be necessary in order to be able to continue the operation of the applicable portion of the Leased Property for the Primary Intended Use substantially in the manner and to
the extent the applicable portion of the Leased Property was operated prior to the assertion of such encroachment, violation or impairment; provided that, (i) unless required under an adverse final determination of a claim brought by a third
party other than Landlord or any Affiliate of Landlord, Tenant shall not be required to obtain any such waivers or settlements, make any such changes or take any such other actions unless such encroachment, violation or impairment otherwise would
have a material adverse effect on the Leased Property following expiration or termination of this Lease, and (ii) Tenant shall bear with respect to matters first arising from and after the Commencement Date, one hundred percent (100%) of, and
with respect to matters existing as of the Commencement Date, fifty percent (50%) of, the cost of obtaining such waivers or settlements, making any such changes or taking any such other actions. Tenant’s obligations under this
Section 21.2 shall be in addition to and shall in no way discharge or diminish any obligation of any insurer under any policy of title or other insurance and, to the extent of any recovery under any title insurance policy,
Tenant shall be entitled to, with respect to matters first arising from and after the Commencement Date, one hundred percent (100%) of, and with respect to matters existing as of the Commencement Date, fifty percent (50%) of any sums recovered by
Landlord under any such policy of title or other insurance (net of Landlord’s out-of-pocket costs incurred in seeking such recovery) up to the maximum amount paid
by Tenant in accordance with this Section 21.2 and Landlord, upon request by Tenant, shall pay over to Tenant the applicable portion of such sum paid to Landlord in recovery on such claim. Landlord agrees to use reasonable
efforts to seek recovery under any policy of title or other insurance under which Landlord is an insured party for all losses, liabilities, obligations, claims, damages, penalties, causes of action, costs and expenses (including reasonable
documented attorneys’, consultants’ and experts’ fees and expenses) based on or arising by reason of any such encroachment, violation or impairment as set forth in this Section 21.2; provided,
however, that in no event shall Landlord be obligated to institute any litigation, arbitration or other legal proceedings in connection therewith unless Landlord is reasonably satisfied that Tenant has the financial resources needed to fund
all or fifty percent (50%) (as applicable) of the expenses of such litigation and Tenant and Landlord have agreed upon the terms and conditions on which such funding will be made available by Tenant, including, but not limited to, the mutual
approval of a litigation budget. 
 ARTICLE XXI 

ITRANSFERS BY TENANT 

22.1 Subletting and Assignment. Other than as expressly provided herein (including in respect of Permitted
Leasehold Mortgages under Article XVII, and the permitted Subleases and assignments described in this Article XXII), Tenant shall not, without Landlord’s prior written consent (which, except as specifically set
forth herein, may be withheld in Landlord’s sole and absolute discretion), (w) voluntarily or by operation of law assign (which term includes any transfer, sale, encumbering, pledge or other transfer or hypothecation), directly or indirectly,
in whole or in part, this Lease or Tenant’s Leasehold Estate, (x) let or sublet (or sub-sublet, as applicable) all or any part of the Facility, or (y) other than in accordance with the express
terms of the MLSA, replace Manager or another wholly-owned subsidiary of CEC as Manager under the MLSA (other than with another wholly-owned subsidiary of CEC). Tenant 

  
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acknowledges that Landlord is relying upon the expertise of Tenant in the operation (and of Manager or such other Affiliate of CEC in the management) of the Facility hereunder and that Landlord
entered into this Lease with the expectation that Tenant would remain in and operate (and Manager or such other Affiliate of CEC would manage) the Facility during the entire Term. Any Change of Control (or, subject to
Section 22.2 below, any transfer of direct or indirect interests in Tenant that results in a Change of Control) shall constitute an assignment of Tenant’s interest in this Lease within the meaning of this Article
XXII and the provisions requiring consent contained herein shall apply thereto. Notwithstanding anything set forth herein, except as expressly provided in Section 22.2(i) or in Article XI of the MLSA, no assignment or direct
or indirect transfer of any nature (whether or not permitted hereunder) shall have the effect of releasing Tenant, Guarantor or Manager from their respective obligations under the MLSA. 

22.2 Permitted Assignments and Transfers. Subject to compliance with the provisions of
Section 22.4, as applicable, and Article XL, Tenant (or a third-party as applicable to the extent expressly referenced below), without the consent of Landlord, may: 

(i) (a) subject to and in accordance with Section 17.1, assign this Lease (and/or permit the
assignment of direct or indirect interests in Tenant), in whole, but not in part, to a Permitted Leasehold Mortgagee for collateral purposes pursuant to a Permitted Leasehold Mortgage, (b) assign this Lease (and/or permit the assignment of
direct or indirect interests in Tenant) to such Permitted Leasehold Mortgagee, its Permitted Leasehold Mortgagee Designee or any other purchaser following any foreclosure or transaction in lieu of foreclosure of the Permitted Leasehold Mortgage, and
(c) assign this Lease (and/or direct or indirect interests in Tenant) to any subsequent purchaser thereafter (provided such subsequent purchaser is not CEC, any Affiliate of CEC or any other Prohibited Leasehold Agent), in each case, solely in
connection with or following a foreclosure of, or transaction in lieu of foreclosure of, a Permitted Leasehold Mortgage; provided, however, that immediately upon giving effect to any Lease Foreclosure Transaction, (1) subject to the last
sentence of this Section 22.2, at the option of Foreclosure Successor Tenant, either of the following conditions (A) or (B) shall be satisfied (the “Tenant Transferee Requirement”): (A) (x) a
Qualified Transferee will be the replacement Tenant hereunder or will Control, and own not less than fifty-one percent (51%) of all of the direct and indirect economic and beneficial interests in, Tenant or
such replacement Tenant, (y) a replacement lease guarantor that is a Qualified Replacement Guarantor will have provided a Replacement Guaranty of the Lease, and (z) the Leased Property shall be managed pursuant to a Replacement Management
Agreement by a Qualified Replacement Manager or a manager that is expressly approved in writing by Landlord or (B) (x) a transferee that satisfies the requirements set forth in clauses (b) through (i) in the definition of Qualified
Transferee will be the replacement Tenant or will Control and own not less than fifty-one percent (51%) of all of the direct and indirect economic and beneficial interests in Tenant, (y) the Lease shall
continue to be guaranteed by Guarantor under the MLSA (unless Landlord previously expressly consented in writing to the termination of the MLSA) (it being understood that in any event under this clause (B) Guarantor’s obligations under the
MLSA shall continue in full force and effect, without any reduction or impairment whatsoever, and without the need to reaffirm the same), and (z) the Property shall be managed by the Manager (or a replacement manager previously appointed by
Landlord following a Termination for Cause (as 

  
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defined under the MLSA)) under the MLSA (or a replacement management agreement previously approved by Landlord); (2) the transferee and any other Affiliates shall have obtained all necessary
Gaming Licenses as required under applicable Legal Requirements (including Gaming Regulations) and all other licenses, approvals, and permits required for such transferee to be Tenant under this Lease; (3) the transferee and its equity holders
will comply with all customary “know your customer” requirements of any Fee Mortgagee; (4) a single Person or multiple Affiliated Persons as tenants in common (each of which satisfy the Tenant Transferee Requirement) (provided such
Affiliated Persons have executed a joinder to this Lease as the “Tenant” on a joint and several basis, the form and substance of which joinder shall be reasonably satisfactory to Landlord) shall own, directly, all of Tenant’s
Leasehold Estate and be Tenant under this Lease; and (5) the Foreclosure Successor Tenant shall (i) provide written notice to Landlord at least thirty (30) days prior to the closing of the applicable Lease Foreclosure Transaction,
specifying in reasonable detail the nature of such Lease Foreclosure Transaction and such additional information as Landlord may reasonably request in order to determine that the requirements of this Section 22.2(i) are satisfied, which
notice shall be accompanied by proposed forms of the Lease Assumption Agreement, the amendment to this Lease contemplated by the penultimate paragraph of this Section 22.2, and if clause (1)(A) applies, the forms of
proposed Replacement Guaranty and Replacement Management Agreement, (ii) assume (or, in the case of a foreclosure on or transfer of direct or indirect interests in Tenant, cause Tenant to reaffirm) in writing (in a form reasonably acceptable to
Landlord) the obligations of Tenant under this Lease, the MLSA (to the extent the Property shall continue to be managed by the Manager under the MLSA), and all applicable Lease/MLSA Related Agreements to which Tenant is a party, from and after the
date of the closing of the Lease Foreclosure Transaction (a “Lease Assumption Agreement”), (iii) provide Landlord with a copy of any such Lease Assumption Agreement and all other documents required under this Section 22.2(i)
as executed at such closing promptly following such closing and (iv) provide Landlord with a customary opinion of counsel reasonably satisfactory to Landlord with respect to the execution, authorization, and enforceability and other customary
matters; 
 (ii) upon prior written notice to Landlord, assign this Lease in entirety to an Affiliate of Tenant, to CEC or an
Affiliate of CEC, provided, that such assignee becomes party to and assumes (in a form reasonably satisfactory to Landlord) this Lease, the MLSA and all applicable Lease/MLSA Related Agreements to which Tenant is a party (it being understood,
for the avoidance of doubt, that none of the foregoing shall result in Tenant being released from this Lease, the MLSA or any of the other Lease/MLSA Related Agreements); 

(iii) transfer direct or indirect interests in Tenant or its direct or indirect parent(s) on a nationally-recognized exchange;
provided, however, that, in the event of a Change of Control of CEC, then the qualifications, quality and experience of the management of Tenant, and the quality of the management and operation of the Facility (taken as a whole with
the Non-CPLV Facilities) must in each case be generally consistent with or superior to that which existed prior to such Change of Control (it being agreed that Tenant shall give no less than thirty
(30) days’ prior notice to Landlord of any transaction or series of related transactions which would result in a Change of Control of 

  
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CEC and Tenant shall furnish Landlord with such information and materials relating to the proposed transaction as Landlord may reasonably request in connection with making its determination under
this clause (iii) (to the extent in Tenant’s possession or reasonable control, and subject to customary and reasonable confidentiality restrictions in connection therewith), and if Landlord determines that the quality of the management and
operation of the Facility will not meet such requirement, then such determination shall be resolved pursuant to Section 34.2 (except, however, for this purpose, the fifteen (15) day good faith negotiating period
contemplated by Section 34.2 shall not apply)); 
 (iv) transfer any direct or indirect interests
in Tenant so long as a Change of Control does not result, provided Landlord shall be given prior written notice of any transfer of ten percent (10%) or more (in the aggregate) direct or indirect ownership interest in Tenant of which transfer Tenant
or CEC has actual knowledge other than any such transfer on a nationally recognized exchange; 
 (v) transfer direct or
indirect interests in CEC; provided, however, that in the event of a Change of Control of CEC, the qualifications, quality and experience of the management of Tenant, and the quality of the management and operation of the Facility
(taken as a whole with the Non-CPLV Facilities) must in each case be generally consistent with or superior to that which existed prior to such Change of Control (it being agreed that Tenant shall give no less
than thirty (30) days’ prior notice to Landlord of any transaction or series of related transactions which would result in a Change of Control of CEC and Tenant shall furnish Landlord with such information and materials relating to the
proposed transaction as Landlord may reasonably request in connection with making its determination under this clause (v) (to the extent in Tenant’s possession or reasonable control, subject to customary and reasonable confidentiality
restrictions in connection therewith), and if Landlord determines that the quality of the management and operation of the Facility will not meet such requirement, then such determination shall be resolved pursuant to
Section 34.2 (except, however, for this purpose, the fifteen (15) day good faith negotiating period contemplated by Section 34.2 shall not apply)); and/or 

(vi) transfer direct or indirect interests in Tenant or its direct or indirect parent(s) in connection with a transfer of all
of the assets (other than assets which in the aggregate are de minimis) of CEC; provided, that all requirements of Section 11.3.3 of the MLSA in connection with a Substantial Transfer (as defined in the MLSA) of CEC shall have been
complied with in all respects; provided, however, that CEC shall not be released from its obligations under the MLSA and the applicable transferee shall assume, jointly and severally with CEC (in a form reasonably satisfactory to
Landlord), all of CEC’s obligations under the MLSA. 
 In connection with any transaction permitted pursuant to Section
22.2(i), the applicable Successor Foreclosure Tenant and Landlord shall make such amendments and other modifications to this Lease as are reasonably requested by either such party solely as needed to give effect to such transaction and such
technical amendments as may be reasonably necessary or appropriate in connection with such transaction including technical changes in the provisions of this Lease regarding delivery of Financial Statements from Tenant, CEOC and CEC to reflect the
changed circumstances of Tenant, any interest holders in Tenant or Guarantor (provided, that, in 

  
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all events, any such amendments or modifications shall not increase any Party’s obligations under this Lease or diminish any Party’s rights under this Lease; provided, further, it is
understood that delivery by any applicable Qualified Replacement Guarantor or parent of a replacement Tenant of Financial Statements and other reporting consistent with the requirements of Article XXIII hereof shall not be deemed to increase
Tenant’s obligations or decrease Tenant’s rights under this Lease). After giving effect to any such transaction, unless the context otherwise requires, references to Tenant shall be deemed to refer to the Successor Foreclosure Tenant
permitted under this Section 22.2. 
 Notwithstanding anything otherwise contained in this Lease, Landlord and
Tenant acknowledge that Landlord entered into this Lease with the expectation that the Leased Property and the Other Leased Property would be under common management by the Manager pursuant to the MLSA and the Other MLSA, respectively. Accordingly,
absent Landlord’s express written consent, no assignment or other transfer shall be permitted under Section 22.2(i)(1)(A) or Section 22.2(i)(1)(B) unless, upon giving effect to such assignment or other transfer, (i) unless
the Manager of the Leased Property or the manager of the Other Leased Property has been terminated pursuant to a Termination for Cause under and as defined in the MLSA or applicable Other MLSA, the manager of the Leased Property is the same Person
(or an Affiliate of such Person) that is then managing the Other Leased Property, (ii) the Leased Property continues to be operated under the Property Specific IP, and (iii) so long as the Leased Property is managed by Manager or any other
Affiliate of CEC, the Leased Property continues to be granted access to the System-wide IP at least consistent with the access granted to the Leased Property prior to any such assignment or other transfer. 

Notwithstanding anything to the contrary herein, any transfer of Tenant’s interest in this Lease or the Leasehold Estate shall be
subject to compliance with all Gaming Regulations, including receipt of all applicable Gaming Licenses and shall not result in the loss or violation of any Gaming License for the Leased Property. 

22.3 Permitted Sublease Agreements. Notwithstanding the provisions of Section 22.1, but subject
to compliance with the provisions of this Section 22.3 and of Section 22.4 and Article XL, provided that no Tenant Event of Default shall have occurred and be continuing,
Tenant may enter into any Sublease (including sub-subleases, license agreements and other occupancy arrangements, but excluding any Sublease for all or substantially all of the Leased Property) without the
consent of Landlord, provided, that, (i) Tenant is not released from any of its obligations under this Lease, (ii) such Sublease is made for bona fide business purposes in the normal course of the Primary Intended Use, and is not
designed with the intent to avoid payment of Variable Rent or otherwise avoid any of the requirements or provisions of this Lease, (iii) such transaction is not designed with the intent to frustrate Landlord’s ability to enter into a new
Lease of the Leased Property with a third Person following the Expiration Date, (iv) such transaction shall not result in a violation of any Legal Requirements (including Gaming Regulations) relating to the operation of the Facility, including
any Gaming Facilities, (v) any Sublease of all or substantially all of the Facility shall be subject to the consent of Landlord and the applicable Fee Mortgagee, and (vi) the Subtenant and any other Affiliates shall have obtained all
necessary Gaming Licenses as required under applicable Legal Requirements (including Gaming Regulations) in connection with such Sublease; provided, further, that, notwithstanding anything otherwise set forth herein, the following are
expressly permitted without such consent: 

  
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(A) the Specified Subleases and any renewals or extensions in accordance with their terms, respectively, or non-material modifications thereto and
(B) any Subleases to Affiliates of Tenant that are necessary or appropriate for the operation of the Facility, including any Gaming Facilities, in connection with licensing requirements (e.g., gaming, liquor, etc.) (provided the same are
expressly subject and subordinate to this Lease); provided, further, however, that, notwithstanding anything otherwise set forth herein, the portion(s) of the Leased Property subject to any Subleases (other than the Specified
Subleases and other than Subleases to Affiliates of CEC) shall not be used for Gaming purposes or other core functions or spaces at the Facility (e.g., hotel room areas) (and any such Subleases to persons that are not Affiliates of CEC in respect of
Leased Property used or to be used in whole or in part for Gaming purposes or other core functions or spaces (e.g., hotel room areas) shall be subject to Landlord’s prior written consent not to be unreasonably withheld). If reasonably requested
by Tenant in respect of a Subtenant (including any sub-sublessee, as applicable) permitted hereunder that is neither a Subsidiary nor an Affiliate of Tenant or Guarantor, with respect to a Material Sublease, Landlord and any such Subtenant (or
sub-sublessee, as applicable) shall enter into a subordination, non-disturbance and attornment agreement with respect to such Material Sublease in a form reasonably satisfactory to Landlord, Tenant and the
applicable Subtenant (or sub-sublessee, as applicable) (and if a Fee Mortgage is then in effect, Landlord shall use reasonable efforts to seek to cause the Fee Mortgagee to enter into a subordination,
non-disturbance and attornment agreement substantially in the form customarily entered into by such Fee Mortgagee at the time of request with similar subtenants (subject to adjustments and modifications
arising out of the specific nature and terms of this Lease and/or the applicable Sublease)). After a Tenant Event of Default has occurred and while it is continuing, Landlord may collect rents from any Subtenant and apply the net amount collected to
the Rent, but no such collection shall be deemed (A) a waiver by Landlord of any of the provisions of this Lease, (B) the acceptance by Landlord of such Subtenant as a tenant or (C) a release of Tenant from the future performance of
its obligations hereunder. Notwithstanding anything otherwise set forth herein, Landlord shall have no obligation to enter into a subordination, non-disturbance and attornment agreement with any Subtenant with
respect to a Sublease, (1) the term of which extends beyond the then Stated Expiration of this Lease, unless the applicable Sublease is on commercially reasonable terms at the time in question taking into consideration, among other things, the
identity of the Subtenant, the extent of the Subtenant’s investment into the subleased space, the term of such Sublease and Landlord’s interest in such space (including the resulting impact on Landlord’s ability to lease the Leased
Property on commercially reasonable terms after the Term of this Lease), or (2) that constitutes a management arrangement. Tenant shall furnish Landlord with a copy of each Material Sublease that Tenant enters into promptly following the making
thereof (irrespective of whether Landlord’s prior approval was required therefor). In addition, promptly following Landlord’s request therefor, Tenant shall furnish to Landlord (to the extent in Tenant’s possession or under
Tenant’s reasonable control) copies of all other Subleases with respect to the Leased Property specified by Landlord. Without limitation of the foregoing, Tenant acknowledges it has furnished to Landlord a subordination agreement of even date
herewith that is binding on all Subtenants that are Subsidiaries or Affiliates of Tenant or Guarantor, pursuant to which subordination agreement, among other things, all such Subtenants have subordinated their respective Subleases to this Lease and
all of the provisions, terms and conditions hereof. Further, Tenant hereby represents and warrants to Landlord that as of the effective date of the Lease, there exists no Sublease other than the Specified Subleases. 

  
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 22.4 Required Subletting and Assignment Provisions. Any Sublease permitted
hereunder and entered into after the Commencement Date must provide that: 
 (i) the use of the Leased Property (or portion
thereof) thereunder shall not conflict with any Legal Requirement or any other provision of this Lease; 
 (ii) in the case
of a Sublease, in the event of cancellation or termination of this Lease for any reason whatsoever or of the surrender of this Lease (whether voluntary, involuntary or by operation of law) prior to the expiration date of such Sublease, including
extensions and renewals granted thereunder without replacement of this Lease by a New Lease pursuant to Section 17.1(f), then, subject to Article XXXVI, (a) upon the request of Landlord (in Landlord’s discretion), the
Subtenant shall make full and complete attornment to Landlord for the balance of the term of the Sublease, which attornment shall be evidenced by an agreement in form and substance reasonably satisfactory to Landlord and which the Subtenant shall
execute and deliver within five (5) days after request by Landlord and the Subtenant shall waive the provisions of any law now or hereafter in effect which may give the Subtenant any right of election to terminate the Sublease or to surrender
possession in the event any proceeding is brought by Landlord to terminate this Lease and (b) to the extent such Subtenant (and each subsequent subtenant separately permitted hereunder) is required to attorn to Landlord pursuant to subclause
(a) above, the aforementioned attornment agreement shall recognize the right of the subtenant (and such subsequent subtenant) under the applicable Sublease and contain commercially reasonable, customary
non-disturbance provisions for the benefit of such subtenant, so long as such Subtenant is not in default thereunder; and 

(iii) in the case of a Sublease, in the event the Subtenant receives a written notice from Landlord stating that this Lease has
been cancelled, surrendered or terminated and not replaced by a New Lease pursuant to Section 17.1(f), then the Subtenant shall thereafter be obligated to pay all rentals accruing under said Sublease directly to Landlord (or as Landlord shall
so direct); all rentals received from the Subtenant by Landlord shall be credited against the amounts owing by Tenant under this Lease. 

(iv) in the case of a Sublease (other than the Specified Subleases), it shall be subject and subordinate to all of the terms
and conditions of this Lease (subject to the terms of any applicable subordination, non-disturbance agreement made pursuant to Section 22.3); 

(v) no Subtenant shall be permitted to further sublet all or any part of the Leased Property or assign its Sublease except
insofar as the same would be permitted if it were a Sublease by Tenant under this Lease (it being understood that any Subtenant under Section 22.3 may pledge and mortgage its subleasehold estate (or allow the pledge of its
equity interests) to its lenders or noteholders; and 
 (vi) in the case of a Sublease, the Subtenant thereunder will, upon
request, furnish to Landlord and each Fee Mortgagee an estoppel certificate of the same type and kind as is required of Tenant pursuant to Section 23.1(a) hereof (as if such Sublease was this Lease). 

  
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 Any assignment of the Leased Property permitted hereunder and entered into after the Commencement Date must
provide that all of Tenant’s rights in, to and under Property Specific IP and Property Specific Guest Data and, in the case of an assignment where the Leased Property continues to be managed by Manager or any other Affiliate of CEC, System-wide
IP, shall also be assigned to the applicable assignee, in each case, to the fullest extent applicable. 
 Any assignment, transfer or Sublease under this
Article XXII shall be subject to all applicable Legal Requirements, including any Gaming Regulations, and no such assignment, transfer or Sublease shall be effective until any applicable approvals with respect to Gaming Regulations, if
applicable, are obtained. 
 22.5 Costs. Tenant shall reimburse Landlord for Landlord’s reasonable out-of-pocket costs and expenses actually incurred in conjunction with the processing and documentation of any assignment, subletting or management arrangement (including in
connection with any request for a subordination, non-disturbance and attornment agreement), including reasonable documented attorneys’, architects’, engineers’ or other consultants’ fees
whether or not such Sublease, assignment or management agreement is actually consummated. 
 22.6 No Release of
Tenant’s Obligations; Exception. No assignment, subletting or management agreement shall relieve Tenant of its obligation to pay the Rent and to perform all of the other obligations to be performed by Tenant
hereunder. The liability of Tenant and any immediate and remote successor in interest of Tenant (by assignment or otherwise), and the due performance of the obligations of this Lease on Tenant’s part to be performed or observed, shall not in
any way be discharged, released or impaired by any (i) stipulation which extends the time within which an obligation under this Lease is to be performed, (ii) waiver of the performance of an obligation required under this Lease that is not
entered into by Landlord in a writing executed by Landlord and expressly stated to be for the benefit of Tenant or such successor, or (iii) failure to enforce any of the obligations set forth in this Lease provided that Tenant shall not
be responsible for any additional obligations or liability arising as the result of any modification or amendment of this Lease by Landlord and any assignee of Tenant that is not an Affiliate of Tenant. 

22.7 Bookings. Tenant may enter into any Bookings that do not cover periods after the expiration of the term of this
Lease without the consent of Landlord. Tenant may enter into any Bookings that cover periods after the expiration of the term of this Lease without the consent of Landlord, provided, that, (i) such transaction is in each case made for
bona fide business purposes in the normal course of the Primary Intended Use; (ii) such transaction shall not result in a violation of any Legal Requirements (including Gaming Regulations) relating to the operation of the Facility, including
any Gaming Facilities, (iii) such Bookings are on commercially reasonable terms at the time entered into; and (iv) such transaction is not designed with the intent to frustrate Landlord’s ability to enter into a new lease of the
Leased Property or any portion thereof with a third person following the Expiration Date; provided, further, that, notwithstanding anything otherwise set forth herein, any such Bookings in effect as of the Commencement Date are
expressly permitted without such consent. Landlord hereby agrees that 

  
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in the event of a termination or expiration of this Lease, Landlord hereby recognizes and shall keep in effect such Booking on the terms agreed to by Tenant with such Person and shall not disturb
such Person’s rights to occupy such portion of the Leased Property in accordance with the terms of such Booking. 
 22.8
Merger of CEOC. The Parties acknowledge that, immediately following the execution of this Lease, Caesars Entertainment Operating Company, Inc., a Delaware corporation, will merge into CEOC, LLC. Notwithstanding anything herein to the
contrary, Landlord consents to such merger. 
 ARTICLE XXII 

IREPORTING 
 23.1
Estoppel Certificates and Financial Statements. 
 (a) Estoppel Certificate. Each of Landlord and Tenant
shall, at any time and from time to time upon receipt of not less than ten (10) Business Days’ prior written request from the other Party, furnish a certificate (an “Estoppel Certificate”) certifying (i) that this
Lease is unmodified and in full force and effect, or that this Lease is in full force and effect and, if applicable, setting forth any modifications; (ii) the Rent and Additional Charges payable hereunder and the dates to which the Rent and
Additional Charges payable have been paid; (iii) that the address for notices to be sent to the Party furnishing such Estoppel Certificate is as set forth in this Lease (or, if such address for notices has changed, the correct address for
notices to such party); (iv) whether or not, to its actual knowledge, such Party or the other Party is in default in the performance of any covenant, agreement or condition contained in this Lease (together with
back-up calculation and information reasonably necessary to support such determination) and, if so, specifying each such default of which such Party may have knowledge; (v) that Tenant is in possession of
the Leased Property; and (vi) responses to such other questions or statements of fact as such other Party may reasonably request. Any such Estoppel Certificate may be relied upon by the receiving Party and any current or prospective Fee
Mortgagee (and their successors and assigns), Permitted Leasehold Mortgagee, or purchaser of the Leased Property, as applicable. 
 (b)
Statements. Tenant shall furnish or cause to be furnished the following to Landlord: 
 (i) On or before twenty-five
(25) days after the end of each calendar month the following items as they pertain to Tenant: (A) an occupancy report for the subject month, including an average daily rate and revenue per available room for the subject month, and
(B) monthly and year-to-date operating statements prepared for each calendar month, noting gross revenue, net revenue, operating expenses and operating income (not
including any contributions to any FF&E Reserve), and other information reasonably necessary and sufficient to fairly represent the financial position and results of operations of Tenant during such calendar month, and containing a comparison of
budgeted income and expenses and the actual income and expenses. 

  
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 (ii) As to CEOC: 

(a) annual financial statements audited by CEOC’s Accountant in accordance with GAAP covering such Fiscal Year and
containing statement of profit and loss, a balance sheet, and statement of cash flows for CEOC, together with (1) a report thereon by such Accountant which report shall be unqualified as to scope of audit of CEOC and its Subsidiaries and shall
provide in substance that (A) such Financial Statements present fairly the consolidated financial position of CEOC and its Subsidiaries as at the dates indicated and the results of their operations and cash flow for the periods indicated in
conformity with GAAP and (B) that the audit by such Accountant in connection with such Financial Statements has been made in accordance with GAAP and (2) a certificate, executed by the chief financial officer or treasurer of CEOC
certifying that no Tenant Event of Default has occurred or, if a Tenant Event of Default has occurred, specifying the nature and extent thereof and any corrective action taken or proposed to be taken with respect thereto, all of which shall be
provided within ninety (90) days after the end of each Fiscal Year (commencing with the Fiscal Year ending December 31, 2017); 

(b) quarterly unaudited financial statements, consisting of a statement of profit and loss, a balance sheet, and statement of
cash flows for CEOC, together with a certificate, executed by the chief financial officer or treasurer of CEOC (A) certifying that no Tenant Event of Default has occurred or, if a Tenant Event of Default has occurred, specifying the nature and
extent thereof and any corrective action taken or proposed to be taken with respect thereto, and (B) certifying that such Financial Statements fairly present, in all material respects, the financial position and results of operations of CEOC
and its Subsidiaries on a consolidated basis in accordance with GAAP (subject to normal year-end audit adjustments and the absence of footnotes), all of which shall be provided (x) within sixty
(60) days after the end of each of the first three Fiscal Quarters of each Fiscal Year (commencing with the Fiscal Quarter ending March 31, 2018); and 

(c) such additional information and unaudited quarterly financial information concerning the Leased Property and Tenant, which
information shall be limited to balance sheets, income statements, and statements of cash flow, as Landlord, PropCo 1, PropCo or Landlord REIT may require for any ongoing filings with or reports to (i) the SEC under both the Securities Act and
the Exchange Act, including, but not limited to 10-Q Quarterly Reports, 10-K Annual Reports and registration statements to be filed by Landlord, PropCo 1, PropCo or
Landlord REIT during the Term of this Lease, (ii) the Internal Revenue Service (including in respect of Landlord REIT’s qualification as a “real estate investment trust” (within the meaning of Section 856(a) of the Code)) and
(iii) any other federal, state or local regulatory agency with jurisdiction over Landlord, PropCo 1, PropCo or Landlord REIT, in each case of clause (i), (ii) and (iii), subject to Section 23.1(c) below. 

  
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 (iii) As to CEC: 

(a) annual financial statements audited by CEC’s Accountant in accordance with GAAP covering such Fiscal Year and
containing statement of profit and loss, a balance sheet, and statement of cash flows for CEC, including the report thereon by such Accountant which shall be unqualified as to scope of audit of CEC and its Subsidiaries and shall provide in substance
that (a) such consolidated financial statements present fairly the consolidated financial position of CEC and its Subsidiaries as at the dates indicated and the results of their operations and cash flow for the periods indicated in conformity
with GAAP and (b) that the audit by CEC’s Accountant in connection with such Financial Statements has been made in accordance with GAAP, which shall be provided within ninety (90) days after the end of each Fiscal Year (commencing
with the Fiscal Year ending December 31, 2017); 
 (b) quarterly unaudited financial statements, consisting of a
statement of profit and loss, a balance sheet, and statement of cash flows for CEC, together with a certificate, executed by the chief financial officer or treasurer of CEC certifying that such Financial Statements fairly present, in all material
respects, the financial position and results of operations of CEC and its Subsidiaries on a consolidated basis in accordance with GAAP (subject to normal year-end audit adjustments and the absence of
footnotes) which shall be provided within sixty (60) days after the end of each of the first three Fiscal Quarters of each Fiscal Year (commencing with the Fiscal Quarter ending September 30, 2017); 

(c) such additional information and unaudited quarterly financial information concerning the Leased Property and Tenant, which
information shall be limited to balance sheets, income statements, and statements of cash flow, as Landlord, PropCo 1, PropCo or Landlord REIT may require for any ongoing filings with or reports to (i) the SEC under both the Securities Act and
the Exchange Act, including, but not limited to 10-Q Quarterly Reports, 10-K Annual Reports and registration statements to be filed by Landlord, PropCo 1, PropCo or
Landlord REIT during the Term of this Lease, (ii) the Internal Revenue Service (including in respect of Landlord REIT’s qualification as a “real estate investment trust” (within the meaning of Section 856(a) of the Code)) and
(iii) any other federal, state or local regulatory agency with jurisdiction over Landlord, PropCo 1, PropCo or Landlord REIT subject to Section 23.1(c) below; 

(iv) As soon as it is prepared and in no event later than sixty (60) days after the end of each Fiscal Year, a statement
of Net Revenue with respect to the Facility with respect to the prior Lease Year (subject to the additional requirements as provided in Section 3.2 hereof in respect of the periodic determination of the Variable Rent
hereunder); 
 (v) Prompt Notice to Landlord of any action, proposal or investigation by any agency or entity, or complaint
to such agency or entity (any of which is called a “Proceeding”), known to Tenant, the result of which Proceeding would reasonably be expected to be to revoke or suspend or terminate or modify in a way adverse to Tenant, or fail to
renew or fully continue in effect, (x) any Gaming License, or (y) any other license 

  
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or certificate or operating authority pursuant to which Tenant carries on any part of the Primary Intended Use of all or any portion of the Leased Property which, in any case under this clause
(y) (individually or collectively), would be reasonably expected to cause a material adverse effect on Tenant or in respect of the Facility (and, without limitation, Tenant shall (A) keep Landlord apprised of (1) the status of any annual
or other periodic Gaming License renewals, and (2) the status of non-routine matters before any applicable gaming authorities, and (B) promptly deliver to Landlord copies of any and all non-routine notices received (or sent) by Tenant (or Manager) from (or to) any Gaming Authorities); 

(vi) Within ten (10) Business Days after the end of each calendar month, a schedule containing any additions to or
retirements of any fixed assets constituting Leased Property, describing such assets in summary form, their location, historical cost, the amount of depreciation and any improvements thereto, substantially in the form attached hereto as Exhibit
D, and such additional customary and reasonable financial information with respect to such fixed assets constituting Leased Property as is reasonably requested by Landlord, it being understood that Tenant may classify any asset additions in
accordance with the fixed asset methodology for propco-opco separation used as of the Commencement Date; 
 (vii) Within
three (3) Business Days of obtaining actual knowledge of the occurrence of a Tenant Event of Default (or of the occurrence of any facts or circumstances which, with the giving of notice or the passage of time would ripen into a Tenant Event of
Default and that (individually or collectively would be reasonably expected to result in a material adverse effect on Tenant or in respect of the Facility), a written notice to Landlord regarding the same, which notice shall include a detailed
description of the Tenant Event of Default (or such facts or circumstances) and the actions Tenant has taken or shall take, if any, to remedy such Tenant Event of Default (or such facts or circumstances); 

(viii) Such additional customary and reasonable financial information related to the Facility, Tenant, CEOC, CEC and their
Affiliates which shall be limited to balance sheets and income statements, as may be required by any Fee Mortgagee as an Additional Fee Mortgagee Requirement hereunder to the extent required by Section 31.3 (and, without
limitation, all information concerning Tenant, CEOC, CEC and any of their Affiliates, respectively, or the Facility or the business of Tenant conducted thereat required pursuant to the Fee Mortgage Documents, within the applicable timeframes
required thereunder); 
 (ix) The compliance certificates, as and when required pursuant to
Section 4.3; and 
 (x) The Annual Capital Budget as and when required in
Section 10.5. 
 (xi) The monthly revenue and Capital Expenditure reporting required pursuant to
Section 10.5(b); 

  
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 (xii) Together with the monthly reporting required pursuant to the preceding
clause (xi), an updated rent roll and a summary of all leasing activity then taking place at the Facility; 
 (xiii)
Operating budget for Tenant for each Fiscal Year, which shall be delivered to Landlord no later than fifty-five (55) days following the commencement of the Fiscal Year to which such operating budget relates; 

(xiv) Within five (5) Business Days after request (or as soon thereafter as may be reasonably possible), such further
detailed information reasonably available to Tenant with respect to Tenant as may be reasonably requested by Landlord; 

(xv) The quarterly reporting in respect of Bookings required pursuant to Section 22.7 of this Lease;

 (xvi) The reporting/copies of Subleases made by Tenant in accordance with Section 22.3; 

(xvii) Any notices or reporting required pursuant to Article XXXII hereof or otherwise pursuant to any other provision
of this Lease; and 
 (xviii) The monthly reporting required pursuant to Section 4.1 hereof. 

The Financial Statements provided pursuant to Section 23.1(b)(iii) shall be prepared in compliance with applicable federal securities laws, including
Regulation S-X (and for any prior periods required thereunder), if and to the extent such compliance with federal securities laws, including Regulation S-X (and for any
prior periods required thereunder), is required to enable Landlord, PropCo 1, PropCo or Landlord REIT to (x) file such Financial Statements with the SEC if and to the extent that Landlord, PropCo 1, PropCo or Landlord REIT is required to file
such Financial Statements with the SEC pursuant to Legal Requirements or (y) include such Financial Statements in an offering document if and to the extent that Landlord, PropCo 1, PropCo or Landlord REIT is reasonably requested or required to
include such Financial Statements in any offering document in connection with a financing contemplated by and to the extent required by Section 23.2(b). 

(c) Notwithstanding the foregoing, Tenant shall not be obligated (1) to provide information or assistance that would give Landlord or its
Affiliates a “competitive” advantage with respect to markets in which Landlord REIT and Tenant or CEC might be competing at any time (it being understood that Landlord shall retain audit rights with respect to such information to the
extent required to confirm Tenant’s compliance with the terms of this Lease (and Landlord, PropCo 1, PropCo or Landlord REIT shall be permitted to comply with Securities Exchange Commission, Internal Revenue Service and other legal and
regulatory requirements with regard to such information) and provided that appropriate measures are in place to ensure that only Landlord’s auditors and attorneys (and not Landlord or Landlord REIT or any other direct or indirect parent company
of Landlord) are provided access to such information) or (2) to provide information that is subject to the quality assurance immunity or is subject to attorney-client privilege or the attorney work product doctrine. 

  
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 (d) For purposes of this Section 23.1, the terms “CEC”,
“CEOC”, “PropCo 1”, “PropCo” and “Landlord REIT” shall mean, in each instance, each of such parties and their respective successors and permitted assigns. 

23.2 SEC Filings; Offering Information. 

(a) Tenant specifically agrees that Landlord, PropCo 1, PropCo or Landlord REIT may file with the SEC or incorporate by reference the
Financial Statements referred to in Section 23.1(b)(ii) and (iii) (and Financial Statements referred to in Section 23.1(b)(ii) and (iii) for any prior annual or quarterly periods as required by any Legal
Requirements) in Landlord’s, PropCo 1’s PropCo’s or Landlord REIT’s filings made under the Securities Act or the Exchange Act to the extent it is required to do so pursuant to Legal Requirements. In addition, Landlord, PropCo 1,
PropCo or Landlord REIT may include, cross-reference or incorporate by reference the Financial Statements (and for any prior annual or quarterly periods as required by any Legal Requirements) and other financial information and such information
concerning the operation of the Leased Property (1) which is publicly available or (2) the inclusion of which is approved by Tenant in writing, which approval may not be unreasonably withheld, conditioned or delayed, in offering memoranda
or prospectuses or confidential information memoranda, or similar publications or marketing materials, rating agency presentations, investor presentations or disclosure documents in connection with syndications, private placements or public
offerings of Landlord’s, PropCo 1’s, PropCo’s or Landlord REIT’s securities or loans. Unless otherwise agreed by Tenant, neither Landlord, PropCo 1, PropCo nor Landlord REIT shall revise or change the wording of information
previously publicly disclosed by Tenant and furnished to Landlord, PropCo 1, PropCo or Landlord REIT pursuant to Section 23 or this Section 23.2, and Landlord’s, PropCo 1’s PropCo’s
or Landlord REIT’s Form 10-Q or Form 10-K (or amendment or supplemental report filed in connection therewith) shall not disclose the operational results of the
Leased Property prior to CEC’s, Tenant’s or its Affiliate’s public disclosure thereof so long as CEC, Tenant or such Affiliate reports such information in a timely manner in compliance with the reporting requirements of the Exchange
Act, in any event, no later than ninety (90) days after the end of each Fiscal Year. Landlord agrees to use commercially reasonable efforts to provide a copy of the portion of any public disclosure containing the Financial Statements, or any
cross-reference thereto or incorporation by reference thereof (other than cross-references to or incorporation by reference of Financial Statements that were previously publicly filed), or any other financial information or other information
concerning the operation of the Leased Property received by Landlord under this Lease, at least two (2) Business Days in advance of any such public disclosure. 

(b) Tenant understands that, from time to time, Landlord, PropCo 1, PropCo or Landlord REIT may conduct one or more financings, which
financings may involve the participation of placement agents, underwriters, initial purchasers or other persons deemed underwriters under applicable securities law. In connection with any such financings, Tenant shall, upon the request of Landlord,
use commercially reasonable efforts to furnish to Landlord, to the extent reasonably requested or required in connection with any such financings, the information referred to in Section 23.1(b), as applicable and in each case including for
any prior annual or quarterly periods as required by any Legal Requirements, as promptly as reasonably practicable after the request therefor (taking into account, among other things, the timing of any such request and any Legal Requirements
applicable to Tenant, CEOC or CEC at such time). In 

  
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addition, Tenant shall, upon the request of Landlord, use commercially reasonable efforts to provide Landlord and its Representatives with such management representation letters, comfort letters
and consents of applicable certified independent auditors to the inclusion of their reports in applicable financing disclosure documents as may be reasonably requested or required in connection with the sale or registration of securities by
Landlord, PropCo 1, PropCo or Landlord REIT. Landlord shall reimburse Tenant, CEOC and CEC, their respective Subsidiaries and their respective Representatives as promptly as reasonably practicable after the request therefor, for any reasonable and
actual, documented expenses incurred in connection with any cooperation provided pursuant to this Section 23.2(b) (and, unless any non-compliance with this Lease to more than a de
minimis extent is revealed, any exercise by Landlord of audit rights pursuant to Section 23.1(c)) (including, without limitation, reasonable and documented fees and expenses of accountants and attorneys, but excluding, for the avoidance of
doubt, any such fees and expenses incurred in the preparation of the Financial Statements). In addition, Landlord shall indemnify and hold harmless Tenant, CEOC and CEC, their respective Subsidiaries and their respective Representatives from and
against any and all liabilities, losses, damages, claims, costs, expenses, interest, awards, judgments and penalties suffered or incurred by them (collectively, “Losses”) in connection with any cooperation provided pursuant to this
Section 23.2(b), except to the extent (i) such Losses were suffered or incurred as a result of the bad faith, gross negligence or willful misconduct of any such indemnified person or (ii) such Losses were caused
by any untrue statement or alleged untrue statement of a material fact contained in any Financial Statements delivered by Tenant to Landlord hereunder, or caused by any omission or alleged omission to state therein a material fact necessary to make
the statements therein in the light of the circumstances under which they were made not misleading. 
 23.3 Landlord Obligations

 (a) Landlord agrees that, upon request of Tenant, it shall from time to time provide such information as may be reasonably requested
by Tenant with respect to Landlord’s, PropCo 1’s, PropCo’s and Landlord REIT’s capital structure and/or any financing secured by this Lease or the Leased Property in connection with Tenant’s review of the treatment of this
Lease under GAAP. 
 (b) Landlord further understands and agrees that, from time to time, Tenant, CEOC, CEC or their respective Affiliates
may conduct one or more financings, which financings may involve the participation of placement agents, underwriters, initial purchasers or other persons deemed underwriters under applicable securities law. In connection with any such financings,
Landlord shall, upon the request of Tenant, use commercially reasonable efforts to furnish to Tenant, to the extent reasonably requested or required in connection with any such financings, the Financial Statements (and for any prior annual or
quarterly periods as required by any Legal Requirements), other financial information and cooperation as promptly as reasonably practicable after the request therefor (taking into account, among other things, the timing of any such request and any
Legal Requirements applicable to Landlord, PropCo 1, PropCo or Landlord REIT at such time). In addition, Landlord shall, upon the request of Tenant, use commercially reasonable efforts to provide Tenant and its Representatives with such
management representation letters, comfort letters and consents of applicable certified independent auditors to the inclusion of their reports in applicable financing disclosure documents as may be reasonably requested or required in connection with
the sale or registration of securities by Tenant, CEOC, 

  
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CEC or any of their respective Affiliates. Tenant shall reimburse Landlord, PropCo 1, PropCo, Landlord REIT, their respective Subsidiaries and their respective Representatives as promptly as
reasonably practicable after the request therefor, for any reasonable and actual, documented expenses incurred in connection with any cooperation provided pursuant to this Section 23.3(b) (including, in each case, without
limitation, reasonable and documented fees and expenses of accountants and attorneys and allocated costs of internal employees but excluding, for the avoidance of doubt, any such fees, expenses and allocated costs incurred in the preparation of the
Financial Statements). In addition, Tenant shall indemnify and hold harmless Landlord, PropCo 1, PropCo, Landlord REIT, their respective Subsidiaries and their respective Representatives from and against any and all Losses in connection with
any cooperation provided pursuant to this Section 23.3(b), except to the extent (i) such Losses were suffered or incurred as a result of the bad faith, gross negligence or willful misconduct of any such indemnified
person or (ii) such Losses were caused by any untrue statement or alleged untrue statement of a material fact contained in any Financial Statements delivered by Landlord to Tenant hereunder, or caused by any omission or alleged omission to
state therein a material fact necessary to make the statements therein in the light of the circumstances under which they were made not misleading. 

(c) The Financial Statements provided pursuant to Section 23.3(b) shall be prepared in compliance with applicable federal securities
laws, including Regulation S-X (and for any prior periods required thereunder), if and to the extent such compliance with federal securities laws, including Regulation
S-X (and for any prior periods required thereunder), is required to enable Tenant, CEOC or CEC or their respective Affiliates to (x) file such Financial Statements with the SEC if and to the extent that
Tenant, CEOC or CEC is required to file such Financial Statements with the SEC pursuant to Legal Requirements or (y) include such Financial Statements in an offering document if and to the extent that Tenant, CEOC or CEC or their respective
affiliates is reasonably requested or required to include such Financial Statements in any offering document in connection with a financing contemplated by and to the extent required by Section 23.3(b). 

ARTICLE XXI 

VLANDLORD’S RIGHT TO INSPECT 

Upon reasonable advance written notice to Tenant, Tenant shall permit Landlord and its authorized representatives (including any Fee
Mortgagee and its representatives) to inspect the Leased Property or any portion thereof during reasonable times (or at such time and with such notice as shall be reasonable in the case of an emergency) (and Tenant shall be permitted to have any
such representatives of Landlord accompanied by a representative of Tenant). Landlord shall take reasonable care to minimize disturbance of the operations on the applicable portion of the Leased Property. 

  
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 ARTICLE XXV 

NO WAIVER 
 No delay,
omission or failure by Landlord to insist upon the strict performance of any term hereof or to exercise any right, power or remedy hereunder and no acceptance of full or partial payment of Rent during the continuance of any default or Tenant Event
of Default shall impair any such right or constitute a waiver of any such breach or of any such term. No waiver of any breach shall affect or alter this Lease, which shall continue in full force and effect with respect to any other then existing or
subsequent breach. 
 ARTICLE XXVI 

REMEDIES CUMULATIVE 
 To
the extent permitted by law, each legal, equitable or contractual right, power and remedy of Landlord now or hereafter provided either in this Lease or by statute or otherwise shall be cumulative and concurrent and shall be in addition to every
other right, power and remedy and the exercise or beginning of the exercise by Landlord of any one or more of such rights, powers and remedies shall not preclude the simultaneous or subsequent exercise by Landlord of any or all of such other rights,
powers and remedies. 
 ARTICLE XXVII 

ACCEPTANCE OF SURRENDER 

No surrender to Landlord of this Lease or of the Leased Property or any part thereof, or of any interest therein, shall be valid or effective
unless agreed to and accepted in writing by Landlord, and no act by Landlord or any representative or agent of Landlord, other than such a written acceptance by Landlord, shall constitute an acceptance of any such surrender. 

ARTICLE XXVIII 
 NO
MERGER 
 There shall be no merger of this Lease or of the Leasehold Estate created hereby by reason of the fact that the same Person
may acquire, own or hold, directly or indirectly, (i) this Lease or the Leasehold Estate created hereby or any interest in this Lease or such Leasehold Estate and (ii) the fee estate in the Leased Property or any portion thereof. If
Landlord or any Affiliate of Landlord shall purchase any fee or other interest in the Leased Property or any portion thereof that is superior to the interest of Landlord, then the estate of Landlord and such superior interest shall not merge. 

  
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 ARTICLE XXIX 

INTENTIONALLY OMITTED 

ARTICLE XXX 
 QUIET
ENJOYMENT 
 So long as no Tenant Event of Default shall have occurred and be continuing, Tenant shall peaceably and quietly have, hold
and enjoy the Leased Property for the Term, free of any claim or other action by Landlord or anyone claiming by, through or under Landlord, but subject (i) to the provisions, terms and conditions of this Lease, and (ii) to all liens and
encumbrances existing as of the Commencement Date, or thereafter as provided for in this Lease or consented to by Tenant. No failure by Landlord to comply with the foregoing covenant shall give Tenant any right to cancel or terminate this Lease or
abate, reduce or make a deduction from or offset against the Rent or any other sum payable under this Lease, or to fail to perform any other obligation of Tenant hereunder. Notwithstanding the foregoing, Tenant shall have the right, by separate and
independent action to pursue any claim it may have against Landlord as a result of a breach by Landlord of the covenant of quiet enjoyment contained in this Article XXX. 

ARTICLE XXXI 
 LANDLORD
FINANCING 
 31.1 Landlord’s Financing. 

(a) Without the consent of Tenant (but subject to the remainder of this Section 31.1), Landlord may from time to
time, directly or indirectly, create or otherwise cause to exist any Fee Mortgage upon all of the Leased Property (other than de minimis portions thereof that are not capable of being assigned or transferred) (or upon interests in Landlord which are
pledged pursuant to a mezzanine loan or similar financing arrangement). Except with respect to any financing that is not secured by any of Landlord’s assets and with respect to which Landlord is not an obligor, Landlord shall cause all Fee
Mortgagees to execute a joinder to the Intercreditor Agreement in a form reasonably acceptable to all parties thereto. This Lease is and at all times shall be subordinate to any Existing Fee Mortgage and any other Fee Mortgage which may
hereafter affect the Leased Property or any portion thereof or interest therein and in each case to all renewals, modifications, consolidations, replacements, restatements and extensions thereof or any parts or portions thereof; provided,
however, that the subordination of this Lease and Tenant’s leasehold interest hereunder to any new Fee Mortgage hereafter made, shall be conditioned upon the execution and delivery to Tenant by the respective Fee Mortgagee of a
commercially reasonable subordination, nondisturbance and attornment agreement, which will bind Tenant and such Fee Mortgagee and its successors and assigns as well as any person who acquires any portion of the Leased Property in a foreclosure or
similar proceeding or in a transfer in lieu of any such foreclosure or a successor owner of the Leased Property (each, a “Foreclosure Purchaser”) and which shall provide, among other things, that so long as there is no outstanding
and continuing Tenant Event of Default under this Lease (or, if there is a continuing Tenant Event of Default, subject to the rights granted to a Permitted Leasehold Mortgagee as expressly 

  
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set forth in this Lease), the holder of such Fee Mortgage, and any Foreclosure Purchaser shall not disturb Tenant’s leasehold interest or possession of the Leased Property, subject to and in
accordance with the terms hereof, and shall give effect to this Lease, including, but not limited to, the provisions of Article XVII which benefit any Permitted Leasehold Mortgagee (as if such Fee Mortgagee or Foreclosure Purchaser were the
landlord under this Lease (it being understood that if a Tenant Event of Default has occurred and is continuing at such time, such parties shall be subject to the terms and provisions hereof concerning the exercise of rights and remedies upon such
Tenant Event of Default including the provisions of Articles XVI, XVII and XXVI)). In connection with the foregoing and at the request of Landlord, Tenant shall promptly execute a subordination, nondisturbance and attornment
agreement that contains commercially reasonable provisions, terms and conditions, in all events complying with this Section 31.1 (it being understood that a subordination,
non-disturbance and attornment agreement substantially in the form, if any, executed by Tenant and the Fee Mortgagee in connection with the Existing Fee Mortgage financing as of the Commencement Date shall be
deemed to satisfy this Section). In connection with any subsequent Fee Mortgage, as a condition to the Fee Mortgagee holding any of the Fee Mortgage Reserve Accounts, Tenant and such Fee Mortgagee shall have entered into a subordination,
nondisturbance and attornment agreement as provided in this Section 31.1(a). 
 (b) If, in connection with obtaining any Fee Mortgage
or entering into any agreement relating thereto, Landlord shall request in writing (i) reasonable cooperation from Tenant or (ii) reasonable amendments or modifications to this Lease, in each case required to comply with any reasonable
request made by Fee Mortgagee, Tenant shall reasonably cooperate with such request, so long as (I) no default in any material respect by Landlord beyond applicable cure periods is continuing, (II) all reasonable documented out-of-pocket costs and expenses incurred by Tenant in connection with such cooperation, including, but not limited to, its reasonable documented attorneys’ fees, shall
be paid by Landlord and (III) any requested action, including any amendments or modification of this Lease, shall not (a) increase Tenant’s monetary obligations under this Lease by more than a de minimis extent, or increase
Tenant’s non-monetary obligations under this Lease in any material respect or decrease Landlord’s obligations in any material respect, (b) diminish Tenant’s rights under this Lease in any
material respect, (c) adversely impact the value of the Leased Property by more than a de minimis extent or otherwise have a more than de minimis adverse effect on the Leased Property, Tenant or Landlord, (d) result in this Lease not
constituting a “true lease”, or (e) result in a default under any Permitted Leasehold Mortgage. The foregoing is not intended to vitiate or supersede the provisions, terms and conditions of Section 31.1
hereof. 
 31.2 Attornment. If either (a) Landlord’s interest in the Leased Property or any portion thereof
or interest therein is sold, conveyed or terminated upon the exercise of any remedy provided for in any Fee Mortgage Documents (or in lieu of such exercise) or (b) equity interests in Landlord are sold or conveyed upon the exercise of any
remedy provided for in any Fee Mortgage Documents (or in lieu of such exercise), or otherwise by operation of law, then, at the request and option of the new owner or superior lessor, as the case may be, Tenant shall attorn to and recognize the new
owner or superior lessor as Tenant’s “landlord”. 

  
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 31.3 Compliance with Fee Mortgagee Documents. 

(a) Tenant acknowledges that any Fee Mortgage Documents executed by Landlord or any Affiliate of Landlord may impose certain obligations on
the “borrower” or other counterparty thereunder to comply with, or cause the operator and/or lessee of the Leased Property to comply with, certain reasonable covenants contained therein, including, without limitation, covenants relating to
(i) the alteration, maintenance, repair and restoration of the Leased Property; (ii) maintenance and submission of financial records and accounts of the operation of the Leased Property and financial and other information regarding the
operator and/or lessee of the Leased Property and the Leased Property itself; (iii) the procurement of insurance policies with respect to the Leased Property; (iv) removal of liens and encumbrances; (v) subleasing, management and
related activities; and (vi) without limiting the foregoing, compliance with all applicable Legal Requirements (including Gaming Regulations) relating to the Leased Property and the operation of the business thereon or therein. From and after
the date any Fee Mortgage encumbers the Leased Property (or any portion thereof or interest therein) and Landlord has provided Tenant with true and complete copies thereof and, if Landlord elects, of any applicable Fee Mortgage Documents (for
informational purposes only, but not for Tenant’s approval), accompanied by a written request for Tenant to comply with the Additional Fee Mortgagee Requirements (hereinafter defined) (which request shall expressly reference this
Section 31.3 and expressly identify the Fee Mortgage Documents and sections thereof containing the Additional Fee Mortgagee Requirements), and continuing until the first to occur of (1) such Fee Mortgage Documents
ceasing to remain in full force and effect by reason of satisfaction in full of the indebtedness thereunder or foreclosure or similar exercise of remedies or otherwise), (2) the Expiration Date, (3) such time as Tenant’s compliance
with the Additional Fee Mortgagee Requirements would constitute or give rise to a breach or violation of (x) this Lease or the MLSA, in either case not waived by Landlord and, if applicable, Manager, (y) Legal Requirements (including
Gaming Regulations and Liquor Laws), or (z) any Permitted Leasehold Mortgage (not waived by the applicable Permitted Leasehold Mortgagee), provided, however, with respect to this clause (z), (I) Tenant shall not be relieved of its obligation to
comply with (A) the terms of the Additional Fee Mortgagee Requirements in effect as of the Commencement Date (whether embodied in the Existing Fee Mortgage or related Fee Mortgage Documents or in any future Fee Mortgage or related Fee Mortgage
Documents containing the applicable corresponding terms), nor (B) unless the applicable terms of the Permitted Leasehold Mortgage were customary at the time entered into, any Additional Fee Mortgagee Requirements (other than any Additional Fee
Mortgagee Requirements covered under the preceding clause (A)) in effect as of the time when the Permitted Leasehold Mortgage was obtained, and (II) such Permitted Leasehold Mortgage shall have been entered into by Tenant without any intent to
vitiate or supersede the terms of any applicable Additional Fee Mortgagee Requirements, and (4) Tenant receives written direction from Landlord, any Fee Mortgagee or any governmental authority requesting or instructing Tenant to cease complying
with the Additional Fee Mortgagee Requirements, (provided, prior to ceasing compliance with any Additional Fee Mortgagee Requirements under the preceding clauses (3) and (4), Tenant shall first provide Landlord with prior written notice
together with, (x) if acting pursuant to clause (3), reasonably detailed materials evidencing that such compliance constitutes such a breach, and (y) if acting pursuant to clause (4), a copy of the applicable communication(s) from such Fee
Mortgagee or governmental authority, as applicable, and Tenant shall in such event only cease compliance with the specific Additional Fee Mortgage Requirements in question under clause (3) or that are covered by the

  
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written direction under clause (4), as applicable) (such time period, the “Additional Fee Mortgagee Requirements Period”), Tenant covenants and agrees, at its sole cost and
expense and for the express benefit of Landlord (and not, for the avoidance of doubt, any Fee Mortgagee, which shall not be construed to be a third-party beneficiary of this Lease, provided, however, this parenthetical provision is not intended to
vitiate Tenant’s obligation to perform any or all of the Additional Fee Mortgagee Requirements directly for the benefit of any Fee Mortgagee as and to the extent agreed to by Tenant in an agreement entered into directly between Tenant and such
Fee Mortgagee), to operate the Leased Property (or cause the Leased Property to be operated) in compliance with the Additional Fee Mortgagee Requirements of which it has received written notice. For the avoidance of doubt, notwithstanding anything
to the contrary herein, Tenant shall not be required to comply with and shall not have any other obligations with respect to any terms or conditions of, or amendments or modifications to, any Fee Mortgage or other Fee Mortgage Documents that do not
constitute Additional Fee Mortgagee Requirements; provided, however, that the foregoing shall not be deemed to release Tenant from its obligations under this Lease that do not derive from the Fee Mortgage Documents, whether or not such
obligations are duplicative of those set forth in the Fee Mortgage Documents. 
 (b) As used herein, “Additional Fee Mortgagee
Requirements” means those customary requirements as to the operation of the Leased Property and the business thereon or therein which the Fee Mortgage Documents impose (x) directly upon, or require Landlord (or Landlord’s
Affiliate borrower thereunder) to impose upon, the tenant(s) and/or operator(s) of the Leased Property or (y) directly upon Landlord, but which, by reason of the nature of the obligation(s) imposed and the nature of Tenant’s occupancy and
operation of the Leased Property and the business conducted thereupon, are not reasonably susceptible of being performed by Landlord and are reasonably susceptible of being performed by Tenant (excluding, for the avoidance of doubt, payment of any
indebtedness or other obligations evidenced or secured thereby) and, except with respect to the Existing Fee Mortgage (of which Tenant is deemed to have received written notice) of which Tenant has received written notice; provided,
however, that, notwithstanding the foregoing, Additional Fee Mortgagee Requirements shall not include or impose on Tenant (and Tenant will not be subject to) obligations which (i) are not customary for the type of financing provided
under the applicable Fee Mortgage Documents, (ii) increase Tenant’s monetary obligations under this Lease to more than a de minimis extent (it being agreed that (x) funding and maintaining Fee Mortgage Reserve Accounts in the same
amounts (as increased, for purposes of this clause (x), by the Escalator on the first (1st) day of each Lease Year (commencing on the first (1st) day of the second (2nd) Lease Year)) as required pursuant to the Existing Fee Mortgage Documents and
(y) making payments otherwise payable to Landlord into a “lockbox” account designated by a Fee Mortgagee shall not be deemed to increase Tenant’s monetary obligations under the Lease), (iii) increase Tenant’s non-monetary obligations under this Lease in any material respect (it being agreed that funding and maintaining Fee Mortgage Reserve Accounts in amounts described in clause (ii)(x) above and making payments
otherwise payable to Landlord into a “lockbox” account designated by a Fee Mortgagee shall not be deemed to increase Tenant’s non-monetary obligations under the Lease), or (iv) diminish
Tenant’s rights under this Lease in any material respect. Notwithstanding the foregoing, the Parties agree that (A) the Additional Fee Mortgagee Requirements as in effect on the Commencement Date, arising out of the Existing Fee Mortgage
and the related Fee Mortgage Documents in each case as in effect on the Commencement Date, shall consist solely of those requirements and obligations set forth on Exhibit J attached hereto, and (B) the Additional Fee

  
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Mortgagee Requirements, to the extent arising out of any Fee Mortgage and the related Fee Mortgage Documents, in each case, entered into after the Commencement Date, shall not include any
requirements or obligations that arise out of the representations or warranties made under such Fee Mortgage or Fee Mortgage Documents (but, for the avoidance of doubt, this clause (B) is not intended to (i) exclude from the Additional Fee
Mortgage Requirements hereunder subsequent to the Commencement Date any such requirements or obligations to the extent arising out of any provisions, terms or conditions of such Fee Mortgage or such Fee Mortgage Documents other than such
representations and warranties, or (ii) vitiate or supersede Tenant’s obligation to cooperate with Landlord in connection with Landlord obtaining any Fee Mortgage or entering into any arrangement relating thereto as provided in Section
31.1(b) hereof). 
 (c) Notwithstanding the foregoing, prior to Tenant being required to fund reserves for taxes and insurance or any
other Fee Mortgage Reserve Accounts in accordance with the preceding Section 31.1(b), Tenant shall have received from Landlord and the applicable Fee Mortgagee, an agreement reasonably acceptable to Tenant providing that such sums deposited
by Tenant must, unless and until both (x) the Landlord’s Enforcement Condition has occurred and (y) this Lease has been terminated by Landlord pursuant to Section 16.2(x) hereof, be used for the payment, when due and payable,
of the actual applicable tax and insurance bills or other applicable amounts for which they were reserved (and may not be used by such Fee Mortgagee (or by Landlord) as collateral for sums due under the applicable Fee Mortgage Documents or for any
other purpose). Any proposed implementation of any additional financial covenants (i.e., a requirement that Tenant must meet certain specified performance tests of a financial nature, e.g., meeting a threshold EBITDAR, Net Revenue, financial ratio
or similar test) that are imposed on Tenant shall not constitute Additional Fee Mortgagee Requirements (it being understood that Landlord may agree to such financial covenants being imposed in any Fee Mortgage Documents so long as such financial
covenants will not impose additional obligations on Tenant to comply therewith). For the avoidance of doubt, Additional Fee Mortgagee Requirements may include (to the extent consistent with the foregoing definition of Additional Fee Mortgagee
Requirements) requirements of Tenant to: 
 (i) fund and maintain reasonably required and customary impound, escrow or other
reserve or similar accounts as security for or otherwise relating to any operating expenses of the Leased Property, including any fixture, furniture and equipment, capital repair or replacement reserves and/or impounds or escrow accounts for taxes,
ground rent and/or insurance premiums (each a “Fee Mortgage Reserve Account”); provided, however, without Tenant’s prior written consent, the Additional Fee Mortgagee Requirements shall not impose obligations to
fund or maintain Fee Mortgage Reserve Accounts in excess of amounts otherwise required to be reserved under the Fee Mortgage Documents as in effect on the Commencement Date; and provided further that (A) any amounts which Tenant
is required to fund into a Fee Mortgage Reserve Account pursuant to Additional Fee Mortgagee Requirements shall be credited on a dollar for dollar basis against the respective applicable expenditure obligations of Tenant for the Leased Property
under this Lease at such time that such funds are used or (subject to satisfaction of the applicable disbursement conditions in the Fee Mortgage Documents as in effect on the Commencement Date or in any future Fee Mortgage Documents in each case to
the extent Tenant is required to comply therewith pursuant to this Article XXXI) requested by Tenant to be used for their intended purpose (e.g., payment of funds into a Fee 

  
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Mortgage Reserve Account on account of Impositions shall be deemed satisfaction of Tenant’s obligation under this Lease to pay such amount of Impositions at such time that such funds are
used or (subject to satisfaction of the applicable disbursement conditions in the Fee Mortgage Documents as in effect on the Commencement Date or in any future Fee Mortgage Documents in each case to the extent Tenant is required to comply therewith
pursuant to this Article XXXI) requested by Tenant to be used to pay the applicable Impositions (whether such Impositions are paid directly by Tenant or by the Fee Mortgagee in accordance with the terms of the Fee Mortgage Documents)), and
(B) unless and until both (x) the Landlord’s Enforcement Condition has occurred and (y) this Lease has been terminated by Landlord pursuant to Section 16.2(x) hereof, (i) Tenant shall, subject to the terms hereof
(and, to the extent consisting of Additional Fee Mortgagee Requirements, the terms and conditions applicable to the Fee Mortgage Reserve Accounts under the related Fee Mortgage Documents), have the right to apply or use (including for reimbursement)
all amounts held in each such Fee Mortgage Reserve Account for payment or reimbursement of amounts for which such reserve was established, without regard to any default by Landlord under the Fee Mortgage or other condition beyond the control of
Tenant, and (ii) such amounts may not be applied against the Fee Mortgage. Landlord hereby further acknowledges that funds deposited by Tenant in any Fee Mortgage Reserve Account are, subject to the applicable provisions, terms and conditions
of this Lease, the property of Tenant and accordingly, so long as no Tenant Event of Default is continuing, except as may be agreed to by Tenant in its sole discretion in respect of any other applicable Additional Fee Mortgagee Requirements, the
applicable Fee Mortgagee shall agree to return the portion of such funds not previously released to Tenant within fifteen (15) days following the expiration of the Additional Fee Mortgagee Requirements Period and may not apply such funds
against the Fee Mortgage. 
 (ii) make Rent payments into “lockbox accounts” maintained for the benefit of Fee
Mortgagee; and/or 
 (iii) subject to this Section 31.3, perform other actions consistent with the
obligations described in the first sentence of this Section 31.3. 
 (d) In the event Tenant breaches its
obligations to comply with Additional Fee Mortgagee Requirements as described herein (without regard to any notice or cure period under the Fee Mortgage Documents and without regard to whether a default or event of default has occurred as a result
thereof under the Fee Mortgage Documents), Landlord shall have the right, following the failure of Tenant to cure such breach within twenty (20) days from receipt of written notice to Tenant from Landlord of such breach (except to the extent
the breach is of a nature such that it is not practicable for Landlord to provide such prior written notice, in which event Landlord shall provide written notice as soon as practicable), to cure such breach, in which event Tenant shall reimburse
Landlord for Landlord’s reasonable costs and expenses incurred in connection with curing such breach. 
 (e) Landlord and Tenant
acknowledge that, in connection with the implementation of the Bankruptcy Plan, CEC and Affiliates of Tenant were involved in the negotiations concerning the Existing Fee Mortgage Documents and reviewed the provisions, terms and conditions of the
Existing Fee Mortgage Documents, and, accordingly, Tenant hereby 

  
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consents and agrees to all provisions, terms and conditions of the Existing Fee Mortgage Documents as in effect as of the date hereof that comprise Additional Fee Mortgagee Requirements and the
same are set forth on Exhibit J attached hereto. If Landlord or its Affiliate anticipates entering into new or modified Fee Mortgage Documents that would modify or impose new Additional Fee Mortgagee Requirements, Landlord shall
(x) provide copies of the same to Tenant with reasonably sufficient time prior to the execution and delivery thereof by Landlord or any Affiliate of Landlord to enable Tenant to timely comply with any such changes to the, or new, Additional Fee
Mortgagee Requirements and (y) promptly upon the execution and delivery thereof by Landlord or any Affiliate of Landlord, deliver to Tenant an updated description thereof in accordance with the second sentence of this
Section 31.3. 
 (f) To the extent of any conflict between the terms and provisions of any agreement to which
Landlord, Tenant and Fee Mortgagee are parties and the terms and provisions of this Section 31.3, the terms and provisions of such agreement shall govern and control in accordance with its terms. 

(g) Notwithstanding anything otherwise set forth in this Lease, Landlord shall have no obligation or liability to Tenant in connection with
any approval, consent or other determination which is to be given by Fee Mortgagee in respect of any Additional Fee Mortgagee Requirements, so agreed to by Tenant, except in any case solely as and to the extent expressly provided in this Lease. 

ARTICLE XXXII 

ENVIRONMENTAL COMPLIANCE 

32.1 Hazardous Substances. Tenant shall not allow any Hazardous Substance to be located in, on, under or about the Leased
Property or any portion thereof or incorporated into the Facility; provided however that Hazardous Substances may be (i) brought, kept, used or disposed of in, on or about the Leased Property in quantities and for purposes similar
to those brought, kept, used or disposed of in, on or about similar facilities used for purposes similar to the Primary Intended Use or in connection with the construction of facilities similar to the Leased Property and (ii) disposed of in
strict compliance with Legal Requirements (other than Gaming Regulations). Tenant shall not allow the Leased Property or any portion thereof to be used as a waste disposal site or for the manufacturing, handling, storage, distribution or disposal of
any Hazardous Substance other than in the ordinary course of the business conducted at the Leased Property and in compliance with applicable Legal Requirements (other than Gaming Regulations). 

32.2 Notices. Tenant shall provide to Landlord, as soon as reasonably practicable but in no event later than fifteen
(15) days after Tenant’s receipt thereof, a copy of any notice, notification or request for information with respect to, (i) any violation of a Legal Requirement (other than Gaming Regulations) relating to, or Release of, Hazardous
Substances located in, on, or under the Leased Property or any portion thereof or any adjacent property; (ii) any enforcement, cleanup, removal, or other governmental or regulatory action instituted, completed or threatened in writing with
respect to the Leased Property or any portion thereof; (iii) any material claim made or threatened in writing by any Person against Tenant or the Leased 

  
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Property or any portion thereof relating to damage, contribution, cost recovery, compensation, loss, or injury resulting from or claimed to result from any Hazardous Substance; and (iv) any
reports made to any federal, state or local environmental agency arising out of or in connection with any Hazardous Substance in, on, under or removed from the Leased Property or any portion thereof, including any written complaints, notices,
warnings or assertions of violations in connection therewith 
 32.3 Remediation. If Tenant becomes aware of a
violation of any Legal Requirement (other than Gaming Regulations) relating to any Hazardous Substance in, on, under or about the Leased Property or any portion thereof or any adjacent property, or if Tenant, Landlord or the Leased Property or any
portion thereof becomes subject to any order of any federal, state or local agency to repair, close, detoxify, decontaminate or otherwise remediate the Leased Property, Tenant shall promptly notify Landlord of such event and, at its sole cost and
expense, cure such violation or effect such repair, closure, detoxification, decontamination or other remediation. If Tenant fails to diligently pursue, implement and complete any such cure, repair, closure, detoxification, decontamination or other
remediation, which failure continues after notice and expiration of applicable cure periods, Landlord shall have the right, but not the obligation, to carry out such action and to recover from Tenant all of Landlord’s costs and expenses
incurred in connection therewith. 
 32.4 Indemnity. Each of the Persons comprising Tenant shall jointly and severally
indemnify, defend, protect, save, hold harmless, and reimburse Landlord for, from and against any and all actual out-of-pocket costs, losses (including, losses of use or
economic benefit or diminution in value), liabilities, damages, assessments, lawsuits, deficiencies, demands, claims and expenses (collectively, “Environmental Costs”) (whether or not arising out of third-party claims and regardless
of whether liability without fault is imposed, or sought to be imposed, on Landlord) incurred in connection with, arising out of, resulting from or incident to, directly or indirectly, in each case before or during (but not if first occurring after)
the Term (i) the production, use, generation, storage, treatment, transporting, disposal, discharge, Release or other handling or disposition of any Hazardous Substances from, in, on or under the Leased Property or any portion thereof
(collectively, “Handling”), including the effects of such Handling of any Hazardous Substances on any Person or property within or outside the boundaries of the Leased Property, (ii) the presence of any Hazardous Substances in,
on or under the Leased Property and (iii) the violation of any Environmental Law. “Environmental Costs” include interest, costs of response, removal, remedial action, containment, cleanup, investigation, design, engineering and
construction, damages (including actual and consequential damages) for personal injuries and for injury to, destruction of or loss of property or natural resources, relocation or replacement costs, penalties, fines, charges or expenses, reasonable
attorney’s fees, reasonable expert fees, reasonable consultation fees, and court costs, and all amounts paid in investigating, defending or settling any of the foregoing, as applicable. Tenant’s indemnity hereunder shall survive the
termination of this Lease, but in no event shall Tenant’s indemnity apply to Environmental Costs incurred in connection with, arising out of, resulting from or incident to matters first occurring after the later of (x) the end of the Term
and (y) the date upon which Tenant shall have vacated the Leased Property and surrendered the same to Landlord, in each case to the extent such matters are not or were not caused by the acts or omissions of Tenant in breach of this Lease. 

  
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 Without limiting the scope or generality of the foregoing, Tenant expressly agrees that, in the
event of a breach by Tenant in its obligations under Sections 32.1 through 32.3 that is not cured within any applicable cure period, Tenant shall reimburse Landlord for any and all reasonable costs and expenses incurred by Landlord in
connection with, arising out of, resulting from or incident to (directly or indirectly, before or during (but not if first occurring after) the Term) the following: 

(a) investigating any and all matters relating to the Handling of any Hazardous Substances, in, on, from or under the Leased Property or any
portion thereof; 
 (b) bringing the Leased Property into compliance with all Legal Requirements, and 

(c) removing, treating, storing, transporting, cleaning-up and/or disposing of any Hazardous
Substances used, stored, generated, released or disposed of in, on, from, under or about the Leased Property or off-site other than in the ordinary course of the business conducted at the Leased Property and
in compliance with applicable Legal Requirements. 
 If any claim is made by Landlord for reimbursement for Environmental Costs incurred by
it hereunder, Tenant agrees to pay such claim promptly, and in any event to pay such claim within sixty (60) calendar days after receipt by Tenant of written notice thereof and any amount not so paid within such sixty (60) calendar day
period shall bear interest at the Overdue Rate from the date due to the date paid in full. 
 32.5 Environmental
Inspections. In the event Landlord has a reasonable basis to believe that Tenant is in breach of its obligations under Sections 32.1 through 32.4, Landlord shall have the right, from time to time, during normal business hours
and upon not less than five (5) Business Days written notice to Tenant (except in the case of an emergency of imminent threat to human health or safety or damage to property, in which event Landlord shall undertake reasonable efforts to notify
a representative of Tenant as soon as practicable under the circumstances), to conduct an inspection of the Leased Property or any portion thereof (and Tenant shall be permitted to have Landlord or its representatives accompanied by a representative
of Tenant) to determine the existence or presence of Hazardous Substances on or about the Leased Property or any portion thereof. In the event Landlord has a reasonable basis to believe that Tenant is in breach of its obligations under Sections
32.1 through 32.4, Landlord shall have the right to enter and inspect the Leased Property or any portion thereof, conduct any testing, sampling and analyses it reasonably deems necessary and shall have the right to inspect materials
brought into the Leased Property or any portion thereof. Landlord may, in its discretion, retain such experts to conduct the inspection, perform the tests referred to herein, and to prepare a written report in connection therewith if Landlord has a
reasonable basis to believe that Tenant is in breach of its obligations under Sections 32.1 through 32.4. All costs and expenses incurred by Landlord under this Section 32.6 shall be the
responsibility of Landlord, except solely to the extent Tenant has breached its obligations under Sections 32.1 through 32.5, in which event such reasonable costs and expenses shall be paid by Tenant to Landlord as
provided in Section 32.4. Failure to conduct an environmental inspection or to detect unfavorable conditions if such inspection is conducted shall in no fashion constitute a release of any liability for environmental
conditions subsequently determined to be associated with or to 

  
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have occurred during Tenant’s tenancy. Tenant shall remain liable for any environmental condition related to or having occurred during its tenancy regardless of when such conditions are
discovered and regardless of whether or not Landlord conducts an environmental inspection at the termination of this Lease. The obligations set forth in this Article XXXII shall survive the expiration or earlier termination of this Lease but
in no event shall Article XXXII apply to matters first occurring after the later of (x) the end of the Term and (y) the date upon which Tenant shall have vacated the Leased Property and surrendered the same to Landlord, in each case
to the extent such matters are not or were not caused by the acts or omissions of Tenant in breach of this Lease. 
 Article XXXIII

 MEMORANDUM OF LEASE 

Landlord and Tenant shall, promptly upon the request of either Party, enter into a short form memoranda of this Lease, in form suitable for
recording in the county or other applicable location in which the Leased Property is located. Each Party shall bear its own costs in negotiating and finalizing such memoranda, but Tenant shall pay all costs and expenses of recording any such
memorandum and shall fully cooperate with Landlord in removing from record any such memorandum upon the Expiration Date. 
 ARTICLE XXXIV

 DISPUTE RESOLUTION 

34.1 Expert Valuation Process. Whenever a determination of Fair Market Ownership Value or Fair Market Base Rental Value
or Fair Market Property Value is required pursuant to any provision of this Lease, and where Landlord and Tenant have not been able to reach agreement on such Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value
either (i) with respect to Fair Market Base Rental Value applicable to a Renewal Term, within three hundred seventy (370) days prior to the commencement date of a Renewal Term or (ii) for all other purposes, after at least
fifteen (15) days of good faith negotiations, then either Party shall each have the right to seek, upon written notice to the other Party (the “Expert Valuation Notice”), which notice clearly identifies that such Party seeks,
to have such Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value determined in accordance with the following Expert Valuation Process: 

(a) Within twenty (20) days of the receiving Party’s receipt of the Expert Valuation Notice, Landlord and Tenant shall provide notice
to the other Party of the name, address and other pertinent contact information, and qualifications of its selected appraiser (which appraiser must be an independent qualified MAI appraiser (i.e., a Member of the Appraisal Institute)). 

(b) As soon as practicable following such notice, and in any event within twenty (20) days following their selection, each appraiser
shall prepare a written appraisal of Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value (as the case may be) as of the relevant date of valuation, and deliver the same to its respective client.

  
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Representatives of the Parties shall then meet and simultaneously exchange copies of such appraisals. Following such exchange, the appraisers shall promptly meet and endeavor to agree upon Fair
Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value (as the case may be) based on a written appraisal made by each of them (and given to Landlord by Tenant). If such two appraisers shall agree upon a Fair Market
Ownership Value or Fair Market Base Rental Value or Fair Market Property Value, as applicable, such agreed amount shall be binding and conclusive upon Landlord and Tenant. 

(c) If such two appraisers are unable to agree upon a Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property
Value (as the case may be) within five (5) Business Days after the exchange of appraisals as aforesaid, then such appraisers shall advise Landlord and Tenant of the same and, within twenty (20) days of the exchange of appraisals, select a
third appraiser (which third appraiser, however selected, must be an independent qualified MAI appraiser) to make the determination of Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value. The selection of the
third appraiser shall be binding and conclusive upon Landlord and Tenant. 
 (d) If such two appraisers shall be unable to agree upon the
designation of a third appraiser within the twenty (20) day period referred to in clause (c) above, or if such third appraiser does not make a determination of Fair Market Ownership Value or Fair Market Base Rental Value or Fair
Market Property Value (as the case may be) within thirty (30) days after his or her selection, then such third appraiser (or a substituted third appraiser, as applicable) shall, at the request of either Party, be appointed by the Appointing
Authority and such appointment shall be final and binding on Landlord and Tenant. The determination of Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value (as the case may be) made by the third appraiser
appointed pursuant hereto shall be made within twenty (20) days after such appointment. 
 (e) If a third appraiser is selected, Fair
Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value (as the case may be) shall be the average of (x) the determination of Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property
Value (as the case may be) made by the third appraiser and (y) the determination of Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value (as the case may be) made by the appraiser (selected pursuant to
Section 34.1(b)) whose determination of Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value (as the case may be) is nearest to that of the third appraiser. Such average shall be binding and conclusive
upon Landlord and Tenant as being the Fair Market Ownership Value or Fair Market Base Rental Value or Fair Market Property Value (as the case may be). 

(f) In determining Fair Market Ownership Value of the Leased Property or the Facility, the appraisers shall (in addition to taking into
account the criteria set forth in the definition of Fair Market Ownership Value), add (i) the present value of the Rent for the remaining Term, assuming the Term has been extended for all Renewal Terms provided herein (with assumed increases in
CPI to be determined by the appraisers) using a discount rate (which may be determined by an investment banker retained by each appraiser) based on the credit worthiness of Tenant and any guarantor of Tenant’s obligations hereunder and
(ii) the present 

  
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value of the Leased Property or Facility as of the end of such Term (assuming the Term has been extended for all Renewal Terms provided herein). The appraisers shall further assume that no
default then exists under the Lease, that Tenant has complied (and will comply) with all provisions of the Lease, and that no default exists under any guaranty of Tenant’s obligations hereunder. 

(g) In determining Fair Market Base Rental Value, the appraisers shall (in addition to the criteria set forth in the definition thereof and of
Fair Market Rental Value) take into account: (i) the age, quality and condition (as required by the Lease) of the Improvements; (ii) that the Leased Property or Facility will be leased as a whole or substantially as a whole to a single
user; (iii) when determining the Fair Market Base Rental Value for any Renewal Term, a lease term of five (5) years together with such options to renew as then remains hereunder; (iv) an absolute triple net lease; and (v) such
other items that professional real estate appraisers customarily consider. 
 (h) In determining Fair Market Property Value pursuant to
Section 36.3 hereof, each appraiser shall have the right to sub-engage an appraiser or other Person with specialized experience in valuing Intellectual Property assets, to work with
such appraiser for purposes of appraising, and assisting with preparation of a written report detailing, such Intellectual Property assets. Notice of any such sub-engagement shall be given to the other Party
consistent with the requirements of Section 34.1(a). 
 (i) If, by virtue of any delay, Fair Market Base Rental Value is not
determined by the first (1st) day of the applicable Renewal Term, then until Fair Market Base Rental Value is determined, Tenant shall continue to pay Rent during the succeeding Renewal Term in
the same amount which Tenant was obligated to pay prior to the commencement of the Renewal Term. Upon determination of Fair Market Base Rental Value, Rent shall be calculated retroactive to the commencement of the Renewal Term and Tenant shall
either receive a refund from Landlord (in the case of an overpayment) or shall pay any deficiency to Landlord (in the case of an underpayment) within thirty (30) days of the date on which the determination of Fair Market Base Rental Value
becomes binding. 
 (j) The cost of the procedure described in this Section 34.1 shall be borne equally by the
Parties and the Parties will reasonably coordinate payment; provided, that if Landlord pays such costs, fifty percent (50%) of such costs shall be Additional Charges hereunder and if Tenant pays such costs, fifty percent (50%) of such costs
shall be a credit against the next Rent payment hereunder. 
 34.2 Arbitration. In the event of a dispute with respect
to this Lease pursuant to an Arbitration Provision, or in any case when this Lease expressly provides for the settlement or determination of a dispute or question by an Expert pursuant to this Section 34.2 (in any such
case, a “Section 34.2 Dispute”) such dispute shall be determined in accordance with an arbitration proceeding as set forth in this Section 34.2. 

(a) Any Section 34.2 Dispute shall be determined by an arbitration panel comprised of three members, each of whom
shall be an Expert (the “Arbitration Panel”). No more than one panel member may be with the same firm and no panel member may have an economic interest in the outcome of the arbitration. 

  
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 The Arbitration Panel shall be selected as set forth in this
Section 34.2(b). If a Section 34.2 Dispute arises and if Landlord and Tenant are not able to resolve such dispute after at least fifteen (15) days of good faith negotiations, then either Party
shall each have the right to submit the dispute to the Arbitration Panel, upon written notice to the other Party (the “Arbitration Notice”). The Arbitration Notice shall identify one member of the Arbitration Panel who meets the
criteria of the above paragraph. Within five (5) Business Days after the receipt of the Arbitration Notice, the Party receiving such Arbitration Notice shall respond in writing identifying one member of the Arbitration Panel who meets the
criteria of the above paragraph. Such notices shall include the name, address and other pertinent contact information, and qualifications of its member of the Arbitration Panel. If a Party fails to timely select its respective panel member, the
other Party may notify such Party in writing of such failure, and if such Party fails to select its respective panel member within three (3) Business Days after receipt of such notice, then such other Party may select and identify to such Party
such panel member on such Party’s behalf. The third member of the Arbitration Panel will be selected by the two (2) members of the Arbitration Panel who were selected by Landlord and Tenant; provided, that if, within five
(5) Business Days after they are identified, they fail to select a third member, or if they are unable to agree on such selection, Landlord and Tenant shall cause the third member of the Arbitration Panel to be appointed by the managing officer
of the American Arbitration Association. 
 (b) Within ten (10) Business Days after the selection of the Arbitration Panel, Landlord
and Tenant each shall submit to the Arbitration Panel a written statement identifying its summary of the issues. Landlord and Tenant may also request an evidentiary hearing on the merits in addition to the submission of written statements. The
Arbitration Panel shall make its decision within twenty (20) days after the later of (i) the submission of such written statements, and (ii) the conclusion of any evidentiary hearing on the merits. The Arbitration Panel shall reach
its decision by majority vote and shall communicate its decision by written notice to Landlord and Tenant. 
 (c) The decision by the
Arbitration Panel shall be final, binding and conclusive and shall be non-appealable and enforceable in any court having jurisdiction. All hearings and proceedings held by the Arbitration Panel shall take
place in New York, New York unless otherwise mutually agreed by the Parties and the Arbitration Panel. 
 (d) The resolution procedure
described herein shall be governed by the Commercial Rules of the American Arbitration Association and the Procedures for Large, Complex, Commercial Disputes in effect as of the Commencement Date. 

(e) Landlord and Tenant shall bear equally the fees, costs and expenses of the Arbitration Panel in conducting any arbitration described in
this Section 34.2. 

  
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 ARTICLE XXXV 

NOTICES 
 Any notice,
request, demand, consent, approval or other communication required or permitted to be given by either Party hereunder to the other Party shall be in writing and shall be sent by registered or certified mail, postage prepaid and return receipt
requested, by hand delivery or express courier service, by email transmission or by an overnight express service to the following address: 
  

			
	 To Tenant:
  

CEOC, LLC
One Caesars Palace Drive
 Las Vegas, NV
89109
Attention: General Counsel
Email: corplaw@caesars.com
	  	 To Landlord:
  

c/o VICI Properties Inc.
8329 West Sunset Road, Suite 210
Las Vegas, NV 89113
Attention: General
Counsel
Email: corplaw@viciproperties.com

 or to such other address as either Party may hereafter designate. Notice shall be deemed to have been given on the date of
delivery if such delivery is made on a Business Day, or if not, on the first Business Day after delivery. If delivery is refused, Notice shall be deemed to have been given on the date delivery was first attempted. Notice sent by email shall be
deemed given only upon an independent, non-automated confirmation from the recipient acknowledging receipt. 

ARTICLE XXXVI 
 END OF
TERM SUCCESSOR ASSET TRANSFER 
 36.1 Transfer of Tenant’s Successor Assets and
Operational Control of the Leased Property. Upon the written request of Landlord, upon the Stated Expiration Date (or earlier (x) termination of this Lease in its entirety pursuant to Section 14.2(a) or (y) consensual
termination of this Lease) (other than, for the avoidance of doubt, upon an expiration of the Term pursuant to Section 1.5) Landlord and Tenant shall comply with the remainder of this Article XXXVI, pursuant to
which, among other things, (i) Tenant (and its Subsidiaries, as applicable) shall transfer (or cause to be transferred), upon the date required under this Article XXXVI, all of Tenant’s Pledged Property, subject to
Section 36.2 with respect to Intellectual Property (collectively, the “Successor Assets”), to a successor lessee (or lessees) of the Leased Property (collectively, the “Successor Tenant”)
designated by Landlord, in exchange for a sum (the “Successor Assets FMV”) which shall be paid by the Successor Tenant to Tenant and be determined in accordance with the penultimate sentence of this
Section 36.1 and/or (ii) Tenant (and its Subsidiaries, as applicable) shall stay in occupancy of the Leased Property following the Expiration Date and continue to operate the Facility, collect and retain revenue
therefrom, and pay Rent, all in the manner required under this Section 36.1, for so long as Landlord is seeking a Successor Tenant in good faith; provided, however, that Tenant shall have no obligation (unless
specifically agreed to by Tenant) to operate the Leased Property (or pay any such Rent) under such arrangement for more than two (2) years after the Expiration Date. For purposes of clarification, a termination of this Lease in accordance with
Section 16.2 and/or the execution of 

  
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a New Lease in accordance with Section 17.1(f) hereof shall not trigger the provisions set forth in this Article XXXVI and this Article XXXVI shall not apply in such
circumstance. Notwithstanding the occurrence of the Expiration Date, to the extent that this Section 36.1 applies, until such time that Tenant transfers the Successor Assets to a Successor Tenant (or, to the extent
applicable pursuant to clause (ii) hereinabove), Tenant shall (or shall cause its Subsidiaries, if applicable, to) continue to possess and operate the Facility (and Landlord shall permit Tenant to maintain possession of the Leased
Property (including, if necessary, by means of a written extension of this Lease or license agreement or other written agreement) to the extent necessary to operate the Facility) in accordance with the applicable terms of this Lease and the course
and manner in which Tenant (or its Subsidiaries, if any) had operated the Facility prior to the end of the Term (including, but not limited to, the payment of Rent hereunder which shall be calculated as provided in this Lease, except, that for any
period following the last day of the calendar month in which the thirty-fifth (35th) anniversary of the Commencement Date occurs, the Rent shall be a per annum amount equal to the sum of
(A) the amount of the Base Rent hereunder during the Lease Year in which the Expiration Date occurs, multiplied by the Escalator, and increased on each anniversary of the Expiration Date to be equal to the Rent payable for the immediately
preceding year, multiplied by the Escalator, plus (B) the amount of the Variable Rent hereunder during the Lease Year in which the Expiration Date occurs. If Tenant, on the one hand, and Landlord and/or a Successor Tenant designated by
Landlord, on the other hand, cannot agree on the Successor Assets FMV within a reasonable time not to exceed thirty (30) days after the delivery of the notice described in the first sentence of this Section 36.1, then
such Successor Assets FMV shall be determined, and Tenant’s transfer of the Successor Assets to a Successor Tenant in consideration for a payment in such amount shall be made, in accordance with the provisions of
Section 36.3. For avoidance of doubt, it is acknowledged and agreed that if Landlord does not deliver such notice, then from and after the later of (X) the Expiration Date or (Y) when Tenant shall have vacated the
Leased Property in accordance with the requirements of this Lease, Landlord shall have no right in or to any of the Successor Assets, and the lien granted to Landlord in Tenant’s Pledged Property pursuant to
Section 6.3 of this Lease shall terminate. 
 36.2 Transfer of Intellectual Property. The
Successor Assets shall include the Property Specific IP and Successor Tenant’s access to the System-wide IP, which access shall be governed by the Transition Services Agreement. Without limiting the foregoing, Tenant shall, within thirty
(30) days after the occurrence of the notice described in the first sentence of Section 36.1, deliver to Landlord a copy of all Property Specific Guest Data; provided, however, that Tenant shall have the right to
retain and use copies of such data as required by Legal Requirements, including applicable Gaming Regulations. 
 36.3
Determination of Successor Assets FMV. If not effected pursuant to the penultimate sentence of Section 36.1, then the Successor Assets FMV shall be equal to the applicable Fair Market Property Value thereof.
Notwithstanding anything in the contrary in this Article XXXVI, the transfer of the Successor Assets will be conditioned upon the approval of the applicable regulatory agencies of the transfer of the Gaming Licenses and any other Gaming
assets to the Successor Tenant and/or the issuance of new Gaming Licenses as required by applicable Gaming Regulations and the relevant regulatory agencies both with respect to operating and suitability criteria, as the case may be. 

  
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 36.4 Operation Transfer. Upon designation of a Successor Tenant by Landlord
(pursuant to this Article XXXVI), Tenant shall reasonably cooperate and take all actions reasonably necessary (including providing all reasonable assistance to Successor Tenant) to effectuate the transfer of the Successor Assets and
operational control of the Facility to Successor Tenant in an orderly manner so as to minimize to the maximum extent feasible any disruption to the continued orderly operation of the Facility for its Primary Intended Use. Concurrently with the
transfer of the Successor Assets to Successor Tenant, (i) Tenant shall assign to Successor Tenant (and Successor Tenant shall assume) any then-effective Subleases or other agreements (to the extent such other agreements are assignable) relating
to the Leased Property, and (ii) Tenant shall vacate and surrender the Leased Property to Landlord and/or Successor Tenant in the condition required under this Lease. Notwithstanding the expiration of the Term and anything to the contrary
herein, to the extent that this Article XXXVI applies, unless Landlord consents to the contrary, until such time that Tenant transfers the Successor Assets and operational control of the Facility to a Successor Tenant in accordance with the
provisions of this Article XXXVI, Tenant shall (or shall cause its Subsidiaries to) continue to (and Landlord shall permit Tenant to maintain possession of the Leased Property to the extent necessary to) operate the Facility in accordance
with the applicable terms of this Lease and the course and manner in which Tenant (or its Subsidiaries) has operated the Facility prior to the end of the Term (including, but not limited to, the payment of Rent hereunder at the rate provided in
Section 36.1 (and not subject to Article XIX)); provided, however, that Tenant shall have no obligation (unless specifically agreed to by Tenant) to operate the Facility (or pay any such Rent) under
such arrangement for more than two (2) years after the Expiration Date. 
 ARTICLE XXXVII 

ATTORNEYS’ FEES 
 If
Landlord or Tenant brings an action or other proceeding against the other to enforce or interpret any of the terms, covenants or conditions hereof or any instrument executed pursuant to this Lease, or by reason of any breach or default hereunder or
thereunder, the Party substantially prevailing in any such action or proceeding and any appeal thereupon shall be paid all of its costs and reasonable documented outside attorneys’ fees incurred therein. In addition to the foregoing and other
provisions of this Lease that specifically require Tenant to reimburse, pay or indemnify against Landlord’s attorneys’ fees, Tenant shall pay, as Additional Charges, all of Landlord’s reasonable documented outside attorneys’ fees
incurred in connection with the enforcement of this Lease (except to the extent provided above), including reasonable documented attorneys’ fees incurred in connection with the review, negotiation or documentation of any subletting, assignment,
or management arrangement or any consent requested in connection with such enforcement, and the collection of past due Rent. 
  

ARTICLE XXXVIII 
 BROKERS

 Tenant warrants that it has not had any contact or dealings with any Person or real estate broker which would give rise to the
payment of any fee or brokerage commission in connection with this Lease, and Tenant shall indemnify, protect, hold harmless and defend 

  
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Landlord from and against any liability with respect to any fee or brokerage commission arising out of any act or omission of Tenant. Landlord warrants that it has not had any contact or dealings
with any Person or real estate broker which would give rise to the payment of any fee or brokerage commission in connection with this Lease, and Landlord shall indemnify, protect, hold harmless and defend Tenant from and against any liability with
respect to any fee or brokerage commission arising out of any act or omission of Landlord. 
  

ARTICLE XXXIX 

ANTI-TERRORISM REPRESENTATIONS 

Each Party hereby represents and warrants to the other Party that neither such representing Party nor, to its knowledge, any persons or
entities holding any Controlling legal or beneficial interest whatsoever in it are (i) the target of any sanctions program that is established by Executive Order of the President or published by the Office of Foreign Assets Control, U.S.
Department of the Treasury (“OFAC”); (ii) designated by the President or OFAC pursuant to the Trading with the Enemy Act, 50 U.S.C. App. § 5, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701-06, the Patriot Act, Public Law 107-56, Executive Order 13224 (September 23, 2001) or any Executive Order of the President issued pursuant to such statutes; or
(iii) named on the following list that is published by OFAC: “List of Specially Designated Nationals and Blocked Persons” (collectively, “Prohibited Persons”). Each Party hereby represents and warrants to the other
Party that no funds tendered to such other Party by such tendering Party under the terms of this Lease are or will be directly or indirectly derived from activities that may contravene U.S. federal, state or international laws and regulations,
including anti-money laundering laws. Neither Party will during the Term of this Lease knowingly engage in any transactions or dealings, or knowingly be otherwise associated with, any Prohibited Persons in connection with the Leased Property. 

ARTICLE XL 
 LANDLORD
REIT PROTECTIONS 
 (a) The Parties intend that Rent and other amounts paid by Tenant hereunder will qualify as “rents from real
property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto and this Lease shall be interpreted consistent with this intent. 

(b) Anything contained in this Lease to the contrary notwithstanding, Tenant shall not without Landlord’s advance written consent
(i) sublet, assign or enter into a management arrangement for the Leased Property on any basis such that the rental or other amounts to be paid by the subtenant, assignee or manager thereunder would be based, in whole or in part, on either
(x) the income or profits derived by the business activities of the subtenant, assignee or manager or (y) any other formula such that any portion of any amount received by Landlord could reasonably be expected to cause any portion of the
amounts to fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto; (ii) furnish or render any services to the subtenant, assignee or manager or
manage or operate the Leased Property so subleased, assigned or managed; (iii) sublet, assign or 

  
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enter into a management arrangement for the Leased Property to any Person (other than a “taxable REIT subsidiary” (within the meaning of Section 856(l) of the Code, or any similar or
successor provision thereto) of Landlord REIT) in which Tenant, Landlord or PropCo owns an interest, directly or indirectly (by applying constructive ownership rules set forth in Section 856(d)(5) of the Code, or any similar or successor provision
thereto); or (iv) sublet, assign or enter into a management arrangement for the Leased Property in any other manner which could reasonably be expected to cause any portion of the amounts received by Landlord pursuant to this Lease or any
Sublease to fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto, or which could reasonably be expected to cause any other income of Landlord to fail
to qualify as income described in Section 856(c)(2) of the Code, or any similar or successor provision thereto. As of the end of each Fiscal Quarter during the Term, Tenant shall deliver to Landlord a certification, in the form attached hereto as
Exhibit G, stating that Tenant has reviewed its transactions during such Fiscal Quarter and certifying that Tenant is in compliance with the provisions of this Article XL. The requirements of this Article XL shall likewise apply
to any further sublease, assignment or management arrangement by any subtenant, assignee or manager. 
 (c) Anything contained in this Lease
to the contrary notwithstanding, the Parties acknowledge and agree that Landlord, in its sole discretion, may assign this Lease or any interest herein to another Person (including without limitation, a “taxable REIT subsidiary” (within the
meaning of Section 856(l) of the Code, or any similar or successor provision thereto)) in order to maintain Landlord REIT’s status as a “real estate investment trust” (within the meaning of Section 856(a) of the Code, or any similar
or successor provision thereto); provided however. Landlord shall be required to (i) comply with any applicable Legal Requirements related to such transfer and (ii) give Tenant notice of any such assignment; and
provided further, that any such assignment shall be subject to all of the rights of Tenant hereunder. 
 (d) Anything
contained in this Lease to the contrary notwithstanding, upon request of Landlord, Tenant shall cooperate with Landlord in good faith and at no cost or expense (other than de minimis cost) to Tenant, and provide such documentation and/or information
as may be in Tenant’s possession or under Tenant’s control and otherwise readily available to Tenant as shall be reasonably requested by Landlord in connection with verification of Landlord REIT’s “real estate investment
trust” (within the meaning of Section 856(a) of the Code, or any similar or successor provision thereto) compliance requirements. Anything contained in this Lease to the contrary notwithstanding, Tenant shall take such action as may be
requested by Landlord from time to time in order to ensure compliance with the Internal Revenue Service requirement that Rent allocable for purposes of Section 856 of the Code to personal property, if any, at the beginning and end of a calendar
year does not exceed fifteen percent (15%) of the total Rent due hereunder as long as such compliance does not (i) increase Tenant’s monetary obligations under this Lease by more than a de minimis extent or (ii) materially increase
Tenant’s nonmonetary obligations under this Lease or (iii) materially diminish Tenant’s rights under this Lease. 

  
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 ARTICLE XLI 

MISCELLANEOUS 

41.1 Survival. Anything contained in this Lease to the contrary notwithstanding, all claims against, and liabilities,
obligations and indemnities of Tenant or Landlord arising or in respect of any period prior to the Expiration Date shall survive the Expiration Date. 

41.2 Severability. Subject to Section 1.2, if any term or provision of this Lease or any
application thereof shall be held invalid or unenforceable, the remainder of this Lease and any other application of such term or provision shall not be affected thereby. 

41.3 Non-Recourse. Tenant specifically agrees to look solely to the Leased
Property for recovery of any judgment from Landlord (and Landlord’s liability hereunder shall be limited solely to its interest in the Leased Property, and no recourse under or in respect of this Lease shall be had against any other assets of
Landlord whatsoever). The provision contained in the foregoing sentence is not intended to, and shall not, limit any right that Tenant might otherwise have to obtain injunctive relief against Landlord, or any action not involving the personal
liability of Landlord. In no event shall either Party ever be liable to the other Party for any indirect, consequential, lost profits, punitive, exemplary, statutory or treble damages suffered from whatever cause (other than, as to all such forms of
damages, (i) if Landlord has terminated this Lease, any damages with respect to Rent or Additional Charges as provided under Section 16.3(a) hereof, (ii) if Landlord has not terminated this Lease, any damages with respect to Rent or
Additional Charges as provided for herein, (iii) any amount of any Required Capital Expenditures not made pursuant to Section 10.5(a)(x) hereof, (iv) damages as provided under Section 16.3(c) hereof, (v) a claim
(including an indemnity claim) for recovery of any such forms of damages that the claiming party is required by a court of competent jurisdiction or the expert to pay to a third party (other than any damages under or relating to any Fee Mortgage or
Fee Mortgagee Documents (excluding claims under Section 32.4)), and (vi) to the extent expressly provided under Section 32.4), and the Parties acknowledge and agree that the rights and
remedies in this Lease, and all other rights and remedies at law and in equity, will be adequate in all circumstances for any claims the parties might have with respect to damages. For the avoidance of doubt, any damages under or relating to any Fee
Mortgage or Fee Mortgage Documents shall be deemed to be consequential damages hereunder, provided, however that, notwithstanding the foregoing, it is expressly agreed that the following shall constitute direct damages hereunder: (i) amounts
payable by Tenant pursuant to Section 16.7 resulting from the breach by Tenant of any Additional Fee Mortgagee Requirements and (ii) out of pocket costs and expenses (including reasonable legal fees) incurred by a
Landlord Indemnified Party (or, to the extent required to be reimbursed by a Landlord Indemnified Party under a Fee Mortgage Document, incurred by or on behalf of any other Person) to defend (but not settle or pay any judgment resulting from) any
investigative, administrative or judicial proceeding commenced or threatened as a result of a breach by Tenant of any Additional Fee Mortgagee Requirement; provided that, notwithstanding the foregoing, in no event shall Tenant be required to pay any
amounts to repay (or that are applied to reduce) the principal amount of any loan or debt secured by or relating to a Fee Mortgage or any interest or fees on any such loan or debt. It is specifically agreed that no constituent member, partner,
owner, director, officer or employee of a Party shall ever be personally liable for any judgment (in respect of obligations under or in 

  
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connection with this Lease) against, or for the payment of any monetary obligation under or in respect of this Lease, such Party, to the other Party (provided, this sentence shall not limit the
obligations of Guarantor expressly set forth in the MLSA). 
 41.4 Successors and Assigns. This Lease shall be binding
upon Landlord and its permitted successors and assigns and, subject to the provisions of Article XXII, upon Tenant and its successors and assigns. 

41.5 Governing Law. (a) THIS LEASE WAS NEGOTIATED IN THE STATE OF NEW YORK, WHICH STATE THE PARTIES AGREE HAS A
SUBSTANTIAL RELATIONSHIP TO THE PARTIES AND TO THE UNDERLYING TRANSACTION EMBODIED HEREBY. ACCORDINGLY, IN ALL RESPECTS THIS LEASE (AND ANY AGREEMENT FORMED PURSUANT TO THE TERMS HEREOF) SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE
WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO PRINCIPLES OR CONFLICTS OF LAW) AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA, EXCEPT THAT ALL PROVISIONS HEREOF RELATING TO THE CREATION OF THE LEASEHOLD ESTATE AND ALL
REMEDIES SET FORTH IN ARTICLE XVI RELATING TO RECOVERY OF POSSESSION OF THE LEASED PROPERTY (SUCH AS AN ACTION FOR UNLAWFUL DETAINER, IN REM ACTION OR OTHER SIMILAR ACTION) SHALL BE CONSTRUED AND ENFORCED ACCORDING TO, AND GOVERNED BY, THE
LAWS OF THE STATE OF ILLINOIS. 
 (b) EXCEPT FOR (x) DISPUTES SPECIFICALLY PROVIDED IN THIS LEASE TO BE REFERRED TO AN EXPERT VALUATION
PROCESS PURSUANT TO SECTION 34.1 OR ARBITRATION PURSUANT TO SECTION 34.2 AND (y) PROCEEDINGS PERTAINING TO THE PROVISIONS HEREOF RELATING TO THE CREATION OF THE LEASEHOLD ESTATE AND THE EXERCISE OF REMEDIES SET FORTH IN ARTICLE
XVI RELATING TO RECOVERY OF POSSESSION OF THE LEASED PROPERTY (SUCH AS AN ACTION FOR UNLAWFUL DETAINER, IN REM ACTION OR OTHER SIMILAR ACTION), ALL CLAIMS, DEMANDS, CONTROVERSIES, DISPUTES, ACTIONS OR CAUSES OF ACTION OF ANY NATURE OR CHARACTER
ARISING OUT OF OR IN CONNECTION WITH, OR RELATED TO, THIS LEASE, WHETHER LEGAL OR EQUITABLE, KNOWN OR UNKNOWN, CONTINGENT OR OTHERWISE SHALL BE RESOLVED IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND ANY APPELLATE
COURTS THERETO, OR IF FEDERAL JURISDICTION IS LACKING, THEN IN NEW YORK STATE SUPREME COURT, NEW YORK COUNTY (COMMERCIAL DIVISION) AND ANY APPELLATE COURTS THERETO. THE PARTIES AGREE THAT SERVICE OF PROCESS FOR PURPOSES OF ANY SUCH LITIGATION OR
LEGAL PROCEEDING NEED NOT BE PERSONALLY SERVED OR SERVED WITHIN THE STATE OF NEW YORK, BUT MAY BE SERVED WITH THE SAME EFFECT AS IF THE PARTY IN QUESTION WERE SERVED WITHIN THE STATE OF NEW YORK, BY GIVING NOTICE CONTAINING SUCH SERVICE TO THE
INTENDED RECIPIENT (WITH COPIES TO COUNSEL) IN THE MANNER PROVIDED IN ARTICLE XXXV. THIS PROVISION SHALL SURVIVE AND BE BINDING UPON THE PARTIES AFTER THIS LEASE IS NO LONGER IN EFFECT 

  
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 41.6 Waiver of Trial by Jury. EACH OF LANDLORD AND TENANT ACKNOWLEDGES THAT
IT HAS HAD THE ADVICE OF COUNSEL OF ITS CHOICE WITH RESPECT TO ITS RIGHTS TO TRIAL BY JURY UNDER THE CONSTITUTION OF THE UNITED STATES, THE STATE OF NEW YORK AND THE STATE OF ILLINOIS. EACH OF LANDLORD AND TENANT HEREBY EXPRESSLY WAIVES ANY RIGHT TO
TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (i) ARISING UNDER THIS LEASE (OR ANY AGREEMENT FORMED PURSUANT TO THE TERMS HEREOF) OR (ii) IN ANY MANNER CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF LANDLORD AND
TENANT WITH RESPECT TO THIS LEASE (OR ANY AGREEMENT FORMED PURSUANT TO THE TERMS HEREOF) OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH; OR THE TRANSACTIONS RELATED HERETO OR THERETO, IN EACH CASE WHETHER
NOW EXISTING OR HEREINAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE; EACH OF LANDLORD AND TENANT HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY A COURT TRIAL WITHOUT A
JURY, AND THAT EITHER PARTY MAY FILE A COPY OF THIS SECTION WITH ANY COURT AS CONCLUSIVE EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. 

41.7 Entire Agreement. This Lease (including the Exhibits and Schedules hereto), together with the other Lease/MLSA
Related Agreements, collectively constitute the entire and final agreement of the Parties with respect to the subject matter hereof, and may not be changed or modified except by an agreement in writing signed by the Parties. In addition to the
foregoing, it is agreed to by the Parties that no modification to this Lease shall be effective without the written consent of (i) any applicable Fee Mortgagee, to the extent that such a modification would adversely affect such Fee Mortgagee
and (ii) any applicable Permitted Leasehold Mortgagee, to the extent that such a modification would adversely affect such Permitted Leasehold Mortgagee. Landlord and Tenant hereby agree that all prior or contemporaneous oral understandings,
agreements or negotiations relative to the leasing of the Leased Property (other than the other Lease/MLSA Related Agreements) are merged into and revoked by this Lease (together with the related agreements referenced above). 

41.8 Headings. All captions, titles and headings to sections, subsections, paragraphs, exhibits or other divisions of
this Lease, and the table of contents, are only for the convenience of the Parties and shall not be construed to have any effect or meaning with respect to the other contents of such sections, subsections, paragraphs, exhibits or other divisions,
such other content being controlling as to the agreement among the Parties. 
 41.9 Counterparts. This Lease may be
executed in any number of counterparts, each of which shall be a valid and binding original, but all of which together shall constitute one and the same instrument. This Lease may be effectuated by the exchange of electronic copies of signatures
(e.g., .pdf), with electronic copies of this executed Lease having the same force and effect as original counterpart signatures hereto for all purposes. 

  
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 41.10 Interpretation. Both Landlord and Tenant have been represented by
counsel and this Lease and every provision hereof has been freely and fairly negotiated. Consequently, all provisions of this Lease shall be interpreted according to their fair meaning and shall not be strictly construed against any party. 

41.11 Deemed Consent. Each request for consent or approval under Sections 9.1, 10.2, 10.3(e),
13.1(a), 13.5, 14.1, 22.1, 22.2 and 22.3 and Article XI of this Lease shall be made in writing to either Tenant or Landlord, as applicable, and shall include all information necessary for Tenant or
Landlord, as applicable, to make an informed decision, and shall include the following in capital, bold and block letters: “FIRST NOTICE – THIS IS A REQUEST FOR CONSENT UNDER THAT CERTAIN LEASE (JOLIET). THE FOLLOWING REQUEST REQUIRES A
RESPONSE WITHIN FIFTEEN (15) BUSINESS DAYS OF RECEIPT.” If the party to whom such a request is sent does not approve or reject the proposed matter within fifteen (15) Business Days of receipt of such
notice and all necessary information, the requesting party may request a consent again by delivery of a notice including the following in capital, bold and block letters: “SECOND NOTICE – THIS IS A SECOND REQUEST FOR CONSENT
UNDER THAT CERTAIN LEASE (JOLIET). THE FOLLOWING REQUEST REQUIRES A RESPONSE WITHIN FIVE (5) BUSINESS DAYS OF RECEIPT.” If the party to whom such a request is sent does not approve or reject the
proposed matter within five (5) Business Days of receipt of such notice and all necessary information, the requesting party may request a consent again by delivery of a notice including the following in capital, bold and block letters:
“FINAL NOTICE – THIS IS A THIRD REQUEST FOR CONSENT UNDER THAT CERTAIN LEASE (JOLIET). THE FOLLOWING REQUEST REQUIRES A RESPONSE WITHIN FIVE (5) BUSINESS DAYS OF RECEIPT. FAILURE TO RESPOND WITHIN FIVE
(5) BUSINESS DAYS HEREOF WILL BE DEEMED AN APPROVAL OF THE REQUEST.” If the party to whom such a request is sent still does not approve or reject the proposed matter within five (5) Business Days of receipt of
such final notice, such party shall be deemed to have approved the proposed matter. Notwithstanding the foregoing, if the MLSA is in effect at the time any such notice is provided to Tenant hereunder, Tenant shall not be deemed to have approved such
proposed matter if such notice was not also addressed and delivered to Manager and CEC in accordance with the MLSA. 
 41.12
Further Assurances. The Parties agree to promptly sign all documents reasonably requested to give effect to the provisions of this Lease. In addition, Landlord agrees to, at Tenant’s sole cost and expense, reasonably cooperate with all
applicable Gaming Authorities and Liquor Authorities in connection with the administration of their regulatory jurisdiction over Tenant, Tenant’s direct and indirect parent(s) and their respective Subsidiaries, if any, including the provision
of such documents and other information as may be requested by such Gaming Authorities or Liquor Authorities relating to Tenant, Tenant’s direct and indirect parent(s) or any of their respective Subsidiaries, if any, or to this Lease and which
are within Landlord’s reasonable control to obtain and provide. 
 41.13 Gaming Regulations. Notwithstanding
anything to the contrary in this Lease, this Lease and any agreement formed pursuant to the terms hereof are subject to all applicable Gaming Regulations and all applicable laws involving the sale, distribution and possession of alcoholic beverages
(the “Liquor Laws”). Without limiting the foregoing, each of Tenant and Landlord acknowledges that (i) it is subject to being called forward by any applicable 

  
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Gaming Authority or governmental authority enforcing the Liquor Laws (the “Liquor Authority”) with jurisdiction over this Lease or the Facility, in each of their discretion, for
licensing or a finding of suitability or to file or provide other information, and (ii) all rights, remedies and powers under this Lease and any agreement formed pursuant to the terms hereof, including with respect to the entry into and
ownership and operation of a Gaming Facility, and the possession or control of Gaming equipment, alcoholic beverages or a Gaming License or liquor license, may be exercised only to the extent that the exercise thereof does not violate any applicable
provisions of the Gaming Regulations and Liquor Laws and only to the extent that required approvals (including prior approvals) are obtained from the requisite governmental authorities. 

Notwithstanding anything to the contrary in this Lease or any agreement formed pursuant to the terms hereof, (subject to
Section 41.12) each of Tenant, Landlord, and each of Tenant’s or Landlord’s successors and assigns agree to cooperate with each Gaming Authority and each Liquor Authority in connection with the administration of
their regulatory jurisdiction over the Parties, including, without limitation, the provision of such documents or other information as may be requested by any such Gaming Authorities and/or Liquor Authorities relating to Tenant, Landlord,
Tenant’s or Landlord’s successors and assigns or to this Lease or any agreement formed pursuant to the terms hereof. 
 If there
shall occur a Licensing Event, then the Party with respect to which such Licensing Event occurs shall notify the other Party, as promptly as practicable after becoming aware of such Licensing Event (but in no event later than twenty (20) days
after becoming aware of such Licensing Event). In such event, the Party with respect to which such Licensing Event has occurred, shall and shall cause any applicable Affiliates to use commercially reasonable efforts to resolve such Licensing Event
within the time period required by the applicable Gaming Authorities by submitting to investigation by the relevant Gaming Authorities and cooperating with any reasonable requests made by such Gaming Authorities (including filing requested forms and
delivering information to the Gaming Authorities). If the Party with respect to which such Licensing Event has occurred cannot otherwise resolve the Licensing Event within the time period required by the applicable Gaming Authorities and any aspect
of such Licensing Event is attributable to any Person(s) other than such Party, then such Party shall disassociate with the applicable Persons to resolve the Licensing Event. It shall be a material breach of this Lease by Landlord if a Licensing
Event with respect to Landlord shall occur and is not resolved in accordance with this Section 41.13 within the later of (i) thirty (30) days or (ii) such additional time period as may be permitted by the
applicable Gaming Authorities. 
 41.14 Intentionally Omitted. 

41.15 Intentionally Omitted. 

41.16 Savings Clause. If for any reason this Lease is determined by a court of competent jurisdiction to be invalid as to
any space that would otherwise be a part of the Leased Property and that is subject to a pre-existing lease as of the Effective Date (between Tenant’s predecessor in interest prior to the Effective Date,
as landlord, and a third party as tenant), then Landlord shall be deemed to be the landlord under such pre-existing lease, and the Parties agree that Tenant shall be deemed to be the collection agent for
Landlord for purposes of collecting 

  
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rent and other amounts payable by the tenant under such pre-existing lease and shall remit the applicable collected amounts to Landlord. In such event, the
Rent payable hereunder shall be deemed to be reduced by any amounts so collected by Tenant and remitted to Landlord with respect to any such pre-existing lease. 

41.17 Integration with Other Documents. Each of Tenant and Landlord acknowledge and agree that certain operating
efficiencies and value will be achieved as a result of Tenant’s and Other Tenants’ lease of the Leased Property and the Other Leased Property and the engagement by Tenant and Other Tenants of Manager under the MLSA and “Manager”
under and as defined in each Other MLSA and the engagement of Manager and/or its Affiliates to operate and manage the Facility, the Other Leased Property and the Other Managed Resorts (as defined in each of the MLSA and the Other MLSA) that would
not be possible to achieve if unrelated managers were engaged to operate each of the Leased Property, the Other Leased Property and the Other Managed Resorts. Each of Tenant and Landlord acknowledge and agree that the Parties would not enter into
this Lease (or the MLSA or the Other MLSA) absent the understanding and agreement of the Parties that the entire ownership, operation, management, lease and lease guaranty relationship with respect to the Leased Property, including (without
limitation) the lease of the Leased Property pursuant to this Lease, the use of the Managed Facilities IP (as defined in the MLSA) and the use of the Total Rewards Program, together with the other related intellectual property arrangements
contemplated under the MLSA and the other covenants, obligations and agreements of the Parties hereunder and under the MLSA, form part of a single integrated transaction. Accordingly, it is the express intention and agreement of each of Tenant and
Landlord that (i) each of the provisions of the MLSA, including the management and lease guaranty rights and obligations thereunder, form part of a single integrated agreement and shall not be or deemed to be separate or severable agreements
and (ii) the Parties would not be entering into this Lease without entering into the MLSA (and vice versa) (or into any of the other Lease/MLSA Related Agreements without entering into all of the Lease/MLSA Related Agreements) and in the event
of any bankruptcy, insolvency or dissolution proceedings in respect of any Party, no Party will reject, move to reject, or join or support any other Party in attempting to reject any one of this Lease or the MLSA or any other Lease/MLSA Related
Agreement without rejecting the other agreement as if each of this Lease and the MLSA and each other Lease/MLSA Related Agreement were one integrated agreement and not separable. 

41.18 Manager. Each of Tenant and Landlord acknowledge and agree that Manager may not be terminated as the manager of the
Leased Property for any reason except as permitted under the MLSA. 
 41.19
Non-Consented Lease Termination. Each of Tenant and Landlord acknowledge and agree that in the event of a Non-Consented Lease Termination, Article
XXI of the MLSA shall apply and each of the parties shall comply with such Article XXI of the MLSA. 
 41.20
Intentionally Omitted. 
 41.21 Intentionally Omitted. 

41.22 Confidential Information. Each Party hereby agrees to, and to cause its Representatives to, maintain the
confidentiality of all non-public information received pursuant 

  
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to this Lease; provided that nothing herein shall prevent any Party from disclosing any such non-public information (a) in the case of Landlord, to
PropCo 1, PropCo and Landlord REIT and any Affiliate thereof, (b) in the case of Tenant, to CEOC, CEC and any Affiliate thereof, (c) in any legal, judicial or administrative proceeding or other compulsory process or otherwise as
required by applicable Legal Requirements (in which case the disclosing Party shall promptly notify the other Parties, in advance, to the extent permitted by law), (d) upon the request or demand of any regulatory authority having jurisdiction
over a Party or its affiliates (in which case the disclosing Party shall, other than with respect to routine, periodic inspections by such regulatory authority, promptly notify the other Parties, in advance, to the extent permitted by law),
(e) to its Representatives who are informed of the confidential nature of such information and have agreed to keep such information confidential (and the disclosing Party shall be responsible for such Representatives’ compliance
therewith), (f) to the extent any such information becomes publicly available other than by reason of disclosure by the disclosing Party or any of its respective Representatives in breach of this Section 41.22,
(g) to the extent that such information is received by such Party from a third party that is not, to such Party’s knowledge, subject to confidentiality obligations owing to the other Parties or any of their respective affiliates or related
parties, (h) to the extent that such information is independently developed by such Party or (i) as permitted under the first sentence of Section 23.2(a). Each of the Parties acknowledges that it and its Representatives may receive
material non-public information with respect to the other Party and its Affiliates and that each such Party is aware (and will so advise its Representatives) that federal and state securities laws and other
applicable laws may impose restrictions on purchasing, selling, engaging in transactions or otherwise trading in securities of the other Party and its Affiliates with respect to which such Party or its Representatives has received material non-public information so long as such information remains material non-public information 

41.23 Time of Essence. TIME IS OF THE ESSENCE OF THIS LEASE AND EACH PROVISION HEREOF IN WHICH TIME OF
PERFORMANCE IS ESTABLISHED 
 41.24 Consents, Approvals and Notices. 

(a) All consents and approvals that may be given under this Lease shall, as a condition of their effectiveness, be in writing. The granting of
any consent or approval by Landlord or Tenant to the performance of any act by Tenant or Landlord requiring the consent or approval of Landlord or Tenant under any of the terms or provisions of this Lease shall relate only to the specified act or
acts thereby consented to or approved and, unless otherwise specified, shall not be deemed a waiver of the necessity for such consent or approval for the same or any similar act in the future, and/or the failure on the part of Landlord or Tenant to
object to any such action taken by Tenant or Landlord without the consent or approval of the other Party, shall not be deemed a waiver of their right to require such consent or approval for any further similar act; and Tenant hereby expressly
covenants and agrees that as to all matters requiring Landlord’s consent or approval under any of the terms of this Lease, Tenant shall secure such consent or approval for each and every happening of the event requiring such consent or
approval, and shall not claim any waiver on the part of Landlord of the requirement to secure such consent or approval. 

  
 155 

 (b) Each Party acknowledges that in granting any consents, approvals or authorizations under this
Lease, and in providing any advice, assistance, recommendation or direction under this Lease, neither such Party nor any Affiliates thereof guarantee success or a satisfactory result from the subject of such consent, approval, authorization, advice,
assistance, recommendation or direction. Accordingly, each Party agrees that neither such Party nor any of its Affiliates shall have any liability whatsoever to any other Party or any third person by reason of: (i) any consent, approval or
authorization, or advice, assistance, recommendation or direction, given or withheld; or (ii) any delay or failure to provide any consent, approval or authorization, or advice, assistance, recommendation or direction (except in the event of a
breach of a covenant herein not to unreasonably withhold or delay any consent or approval); provided, however, each agrees to act in good faith when dealing with or providing any advice, consent, assistance, recommendation or direction. 

(c) Any notice, report or information required to be delivered by Tenant hereunder may be delivered collectively with any other notices,
reports or information required to be delivered by Tenant hereunder as part of a single report, notice or communication. Any such notice, report or information may be delivered to Landlord by Tenant providing a representative of Landlord with access
to Tenant’s or its Affiliate’s electronic databases or other information systems containing the applicable information and notice that information has been posted on such database or system. 

41.25 No Release of Tenant or Guarantor. Notwithstanding anything to the contrary set forth in this Lease, neither Tenant
nor Guarantor shall be released from their respective obligations under the MLSA, except as and to the extent expressly provided in the MLSA. 

41.26 Amendments. This Lease may not be amended except by a written agreement executed by all Parties hereto. 

SIGNATURES ON FOLLOWING PAGES 

  
 156 

 IN WITNESS WHEREOF, this Lease (Joliet) has been executed by Landlord and Tenant as of the date
first written above. 
 LANDLORD: 
 HARRAH’S
JOLIET LANDCO LLC, 
 a Delaware limited liability company 
  

							
	 By:
	 	  

		 	 Name: John Payne

		 	 Title:   President

 [Signatures continue on following pages] 

  
 Signature Page to
Lease (Joliet) 

 TENANT: 

DES PLAINES DEVELOPMENT LIMITED PARTNERSHIP, 
 a Delaware limited
partnership 
  

							
	 By:
	 	  

		 	 Name:

		 	 Title:

 [Signatures continue on following page] 

  
 Signature Page to
Lease (Joliet) 

 The undersigned has executed this Lease (Joliet) solely for the purpose of acknowledging and agreeing to be bound
by the penultimate paragraph of Section 1.1 hereof. 
 PROPCO TRS: 

Propco TRS LLC 
  

							
	 By:
	 	  

		 	 Name: John Payne

		 	 Title:   President

  
 Signature Page to Lease (Joliet) 

 CEOC hereby joins in, and has executed this Lease (Joliet) for the purpose of guaranteeing: (a) eighty
percent (80%) of the payment obligations of Tenant hereunder (including, without limitation, payment obligations with respect to damages arising from Tenant’s failure to perform non-monetary obligations
of Tenant hereunder); and (b) the performance of the non-monetary obligations of Tenant hereunder to the extent Tenant is ordered by a court of competent jurisdiction to perform specific performance with
respect to such non-monetary obligations. 
 In connection with this joinder, CEOC hereby waives and agrees not to
assert or take advantage of the following defenses: (i) any defense that may arise by reason of the incapacity, lack of authority, death or disability of any person or entity, or revocation hereof by any person or entity, or the failure of
Tenant to file or enforce a claim against the estate (either in administration, bankruptcy, or any other proceeding) of any other Person; (ii) diligence, presentment, notice of acceptance, notice of dishonor, notice of presentment, or demand
for payment of or performance of the obligations guaranteed under this joinder (other than as required with respect to Tenant under this Lease) and other suretyship defenses generally; (iii) any defense that may arise by reason of any action
required by any statute to be taken against Tenant; (iv) the dissolution or termination of the existence of Tenant; (v) any defense that may arise by reason of the voluntary or involuntary liquidation, sale, or other disposition of all or
substantially all of the assets of Tenant; (vi) any defense that may arise by reason of the voluntary or involuntary receivership, insolvency, bankruptcy, assignment for the benefit of creditors, reorganization, assignment, composition, or
readjustment of, or any similar proceeding affecting, Tenant or any of Tenant’s assets; (vii) any right of subrogation, indemnity or reimbursement against Tenant or any right to enforce any remedy which Landlord may have against Tenant at
any time during which a Tenant Event of Default under and as defined in this Lease has occurred and is continuing; (viii) any and all rights and defenses arising out of an election of remedies by Landlord, even though that election of remedies
might impair or destroy any right, if any, of CEOC of subrogation, indemnity or reimbursement; (ix) any defense based upon Tenant’s failure to disclose to CEOC any information concerning Tenant’s financial condition or any other
circumstances bearing on Tenant’s ability to pay all sums payable under or in respect of this Lease; and (x) any defense based upon any statute or rule of law which provides that the obligation of a surety must be neither larger in amount
nor in any other respects more burdensome than that of a principal. 
 CEOC’s liability under this joinder is primary, direct and unconditional and may
be enforced in full or in part, from time to time, after nonpayment or nonperformance by Tenant of any of the obligations guaranteed hereunder, in each case without requiring Landlord to resort to any other person or entity, including, without
limitation, Tenant, or any other right, remedy or collateral. This joinder constitutes a guaranty of payment and performance and not of collection only. This joinder is a continuing, absolute and unconditional guaranty of the obligations guaranteed
hereunder, and liability hereunder shall in no way be affected or diminished by any renewal, extension, amendment or modification of this Lease or any waiver of any of the provisions hereof. CEOC agrees that any act which tolls any statute of
limitations applicable to this Lease shall similarly operate to toll the statute of limitations applicable to CEOC’s liability under this joinder. 

 CEOC’s obligations with respect to the payment and performance of the obligations guaranteed under this
joinder shall survive for so long as Tenant has any obligations to Landlord under this Lease. 

 THIS JOINDER SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ANY PRINCIPLES
REGARDING CONFLICT OF LAWS. 
 ANY LITIGATION OR OTHER COURT PROCEEDING WITH RESPECT TO ANY MATTER ARISING FROM OR IN CONNECTION WITH THIS
JOINDER SHALL BE CONDUCTED IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND ANY APPELLATE COURTS THERETO, OR IF FEDERAL JURISDICTION IS LACKING, THEN IN THE STATE COURTS OF NEW YORK STATE LOCATED IN NEW YORK COUNTY. THE
PARTIES AGREE THAT SERVICE OF PROCESS FOR PURPOSES OF ANY SUCH LITIGATION OR LEGAL PROCEEDING NEED NOT BE PERSONALLY SERVED WITHIN THE STATE OF NEW YORK, BUT MAY BE SERVED WITH THE SAME EFFECT AS IF THE PARTY IN QUESTION WERE SERVED WITHIN THE STATE
OF NEW YORK, BY GIVING NOTICE CONTAINING SUCH SERVICE TO THE INTENDED RECIPIENT (WITH COPIES TO COUNSEL) IN THE MANNER PROVIDED IN Article XXXV. 

CEOC: 
 CEOC, LLC, 

a Delaware limited liability company (as successor-in-interest to Caesars
Entertainment Operating Company, Inc.) 
  

					
	 By:
	 	  

					
		 	 Name:
	 	  

					
		 	 Title:
	 	  

  
 Signature Page to Lease (Joliet) 

 EXHIBIT A 

FACILITY 
  

									
	
        1.        
	  	Harrah’s	  	Joliet,	  	Joliet,	  	Illinois

 EXHIBIT B 

LEGAL DESCRIPTION OF LAND 
 PARCEL 1: 

LOT 1 IN BLOCK 15, EXCEPT THE NORTH 20.00 FEET OF THE WEST 115.00 FEET THEREOF; LOTS 2, 3, 4, 5, 6, 7 AND 8 IN SAID BLOCK 15; 

THE NORTH 5 FEET OF LOT 1 IN BLOCK 18; 
 THAT PART OF LOT 8 IN
SAID BLOCK 18 DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWEST CORNER OF SAID LOT 8; THENCE EAST 37.00 FEET ALONG THE NORTH LINE OF SAID LOT 8; THENCE SOUTHWESTERLY TO A POINT ON THE WEST LINE OF SAID LOT 8 WHICH IS 37.00 FEET SOUTH OF THE AFORESAID
NORTHWEST CORNER OF LOT 8; THENCE NORTH ALONG SAID WEST LINE 37.00 FEET TO THE POINT OF BEGINNING; 
 THE VACATED EAST-WEST ALLEY AND THE VACATED
NORTH-SOUTH ALLEY IN AFORESAID BLOCK 15; THAT PART OF THE NORTH-SOUTH ALLEY IN AFORESAID BLOCK 18, LYING NORTH OF A LINE PARALLEL WITH AND 5.00 FEET SOUTH OF THE SOUTH LINE OF CLINTON STREET; 

THAT PART OF CLINTON STREET LYING WEST OF THE WEST LINE OF JOLIET STREET AND LYING EAST OF A LINE PARALLEL WITH AND 20.00 FEET EAST OF THE EAST FACE OF THE
EAST WALL OF THE ILLINOIS WATERWAY (DES PLAINES RIVER); 
 AND THAT PART OF DES PLAINES STREET LYING SOUTH OF A LINE PARALLEL WITH AND 20.00 FEET SOUTH OF
THE SOUTH LINE OF CASS STREET, LYING NORTH OF A LINE PARALLEL WITH AND 5.00 FEET SOUTH OF THE SOUTH LINE OF CLINTON STREET, AND LYING EAST OF A LINE PARALLEL WITH AND 20.00 FEET EAST OF THE EAST FACE OF THE EAST WALL OF THE ILLINOIS WATERWAY; 

ALL IN ORIGINAL TOWN OF JULIET (NOW JOLIET), A SUBDIVISION OF THE SOUTHEAST FRACTIONAL 1/4 OF SECTION 9, TOWNSHIP 35 NORTH RANGE 10, EAST OF THE THIRD
PRINCIPAL MERIDIAN, WILL COUNTY, ILLINOIS. 
 PARCEL 2: 
 THE
SOUTH 5.00 FEET OF LOT 4, EXCEPT THE EAST 23.50 FEET THEREOF, IN BLOCK 18; 

 LOTS 1, 2, 3, 4, 5, 6 AND 7 IN BLOCK 23, EXCEPTING THEREFROM THE WEST 19.50 FEET OF THE SOUTH 37.00 FEET OF SAID
LOT 2, ALSO EXCEPTING THE WEST 19.50 FEET OF SAID LOTS 3 AND 4; 
 THE NORTH-SOUTH ALLEY IN SAID BLOCK 23; 

THAT PART OF THE EAST-WEST ALLEY IN SAID BLOCK 23, LYING EAST OF A LINE PARALLEL WITH AND 19.50 FEET EAST OF THE EAST LINE OF DES PLAINES STREET; 

THAT PART OF VAN BUREN STREET LYING EAST OF THE EAST LINE OF DES PLAINES STREET AND LYING WEST OF THE NORTHERLY PROLONGATION OF THE WEST LINE OF LOT 8 IN
AFORESAID BLOCK 23, AND EXCEPTING THEREFROM THE NORTH 40.00 FEET OF SAID VAN BUREN STREET LYING EAST OF A LINE PARALLEL WITH AND 23.50 FEET WEST OF THE SOUTHERLY PROLONGATION OF THE EAST LINE OF AFORESAID LOT 4 IN BLOCK 18; 

THAT PART OF DES PLAINES STREET LYING NORTH OF A LINE PARALLEL WITH AND 250.00 FEET NORTH OF THE NORTH LINE OF JEFFERSON STREET AND LYING SOUTH OF A LINE
DESCRIBED AS FOLLOWS: 
 BEGINNING AT A POINT ON THE EAST LINE OF DES PLAINES STREET WHICH IS 5.00 FEET NORTH OF THE NORTH LINE OF VAN BUREN STREET; THENCE
WEST PARALLEL WITH SAID NORTH LINE OF VAN BUREN STREET 23.00 FEET; THENCE SOUTHWESTERLY 32.58 FEET TO A POINT ON THE WEST LINE OF DES PLAINES STREET WHICH IS 18.00 FEET SOUTH OF THE AFORESAID NORTH LINE OF VAN BUREN STREET; 

ALL IN THE ORIGINAL TOWN OF JULIET (NOW JOLIET), A SUBDIVISION OF THE SOUTHEAST FRACTIONAL 1/4 OF SECTION 9, TOWNSHIP 35 NORTH, RANGE 10, EAST OF THE THIRD
PRINCIPAL MERIDIAN, WILL COUNTY, ILLINOIS. 
 PARCEL 3: 
 LOTS
1, 2, 3, 4, 7 AND 8 IN BLOCK 14; 
 THAT PART OF THE NORTH-SOUTH ALLEY IN SAID BLOCK 14, LYING NORTH OF THE WESTERLY PROLONGATION OF THE SOUTH LINE OF SAID
LOT 7; 
 THAT PART OF THE EAST-WEST ALLEY IN SAID BLOCK 14, LYING WEST OF THE NORTHERLY PROLONGATION OF THE EAST LINE OF AFORESAID LOT 3; 

ALL IN ORIGINAL TOWN OF JULIET (NOW JOLIET), A SUBDIVISION OF THE SOUTHEAST FRACTIONAL 1/4 OF SECTION 9, TOWNSHIP 35 NORTH, RANGE 10, EAST OF THE THIRD
PRINCIPAL MERIDIAN, WILL COUNTY, ILLINOIS. 

 PARCEL 4: 
 LOT 8 IN
BLOCK 23 IN THE ORIGINAL TOWN OF JULIET, NOW CITY OF JOLIET; 
 THE SOUTH 11 FEET OF THAT PART OF THE SOUTH 1/2 OF VACATED VAN BUREN STREET LYING WEST OF
THE WEST LINE OF JOLIET STREET AND LYING EAST OF THE NORTHERLY PROLONGATION OF THE WEST LINE OF LOT 8 IN BLOCK 23 
 ALL IN THE ORIGINAL TOWN OF JULIET (NOW
JOLIET), A SUBDIVISION OF THE SOUTHEAST FRACTIONAL 1/4 OF SECTION 9, IN TOWNSHIP 35 NORTH, RANGE 10, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN WILL COUNTY, ILLINOIS. 

PARCEL 5: 
 EASEMENT FOR THE BENEFIT OF PARCELS 1 THROUGH 4 FOR
CONSTRUCTION, UTILITY FACILITIES, PEDESTRIAN ACCESS AND USE, MAINTENANCE, REPAIR AND REPLACEMENT OF THE SKYWALK LOCATED IN THE SPACE ABOVE JOLIET STREET AS DESCRIBED BELOW AS CREATED BY GRANT OF EASEMENT WITH SKYWALK AGREEMENT DATED OCTOBER 7,
1997 AND RECORDED MARCH 19, 1998 AS DOCUMENT R98-28731. 
 PARCEL 6: 

AN EXCLUSIVE EASEMENT CREATED BY GRANT CONTAINED IN AN EASEMENT AGREEMENT DATED JANUARY 8, 2001 AND RECORDED JANUARY 18, 2001 AS DOCUMENT NUMBER
R2001-6412 MADE BY THE CITY OF JOLIET TO DES PLAINES DEVELOPMENT LIMITED PARTNERSHIP. 
 PARCEL 7: 

LOTS 7 AND 8, IN BLOCK 18, OF THE ORIGINAL TOWN OF JOLIET, A SUBDIVISION OF PART OF THE SOUTHEAST FRACTIONAL QUARTER OF SECTION 9, TOWNSHIP 35 NORTH, RANGE 10,
EAST OF THE THIRD PRINCIPAL MERIDIAN, 
 EXCEPTING THEREFROM THE SOUTH 36.00 FEET OF SAID LOT 7; 

ALSO EXCEPTING THEREFROM THAT PART OF SAID LOT 8 DESCRIBED AS FOLLOWS: 

BEGINNING AT THE NORTHWEST CORNER OF SAID LOT 8; THENCE EAST 37.00 FEET ALONG THE NORTH LINE OF SAID LOT 8; THENCE SOUTHWESTERLY TO A POINT ON THE WEST LINE OF
SAID LOT 8 WHICH IS 37.00 FEET SOUTH OF THE AFORESAID NORTHWEST CORNER OF LOT 8; THENCE NORTH ALONG SAID WEST LINE 37.00 FEET TO THE POINT OF BEGINNING; 

 PARCEL 8: 
 ALL OF
LOTS 5 AND 6 AND THE SOUTH 36 FEET OF LOT 7, IN BLOCK 18, OF THE ORIGINAL TOWN OF JOLIET, A SUBDIVISION OF PART OF THE SOUTH EAST 1/4 OF SECTION 9, TOWNSHIP 35 NORTH, RANGE 10, EAST OF THE THIRD PRINCIPAL MERIDIAN, ALSO THAT PART OF THE VACATED EAST
AND WEST ALLEY IN SAID BLOCK 18, LYING AND BEING BETWEEN SAID LOTS 6 AND 7. 
 PARCEL 9: 

THAT PART OF THE NORTH 1/2 OF VACATED VAN BUREN STREET VACATED BY ORDINANCE NO. 10033 RECORDED DECEMBER 4, 1992 AS DOCUMENT NO. R92-96470 AND BY NOTICE OF EFFECTIVE DATE RECORDED DECEMBER 28, 1992 AS DOCUMENT NO. R92-104446 LYING WEST OF THE WEST LINE OF JOLIET STREET AND LYING EAST OF THE
SOUTHERLY PROLONGATION OF THE WEST LINE OF LOT 5 IN BLOCK 18 IN THE ORIGINAL TOWN OF JULIET (NOW JOLIET), A SUBDIVISION OF THE SOUTHEAST FRACTIONAL QUARTER OF SECTION 9, TOWNSHIP 35 NORTH, RANGE 10, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN WILL
COUNTY, ILLINOIS. 
 PARCEL 10: 
 THE NORTH 22.00 FEET OF THAT
PART OF THE SOUTH 1/2 VACATED VAN BUREN STREET VACATED BY ORDINANCE NO. 10033 RECORDED DECEMBER 4, 1992 AS DOCUMENT NO. R92-96470 AND BY NOTICE OF EFFECTIVE DATE RECORDED DECEMBER 28, 1992 AS
DOCUMENT NO. R92-104446 LYING WEST OF THE WEST LINE OF JOLIET STREET AND LYING EAST OF THE NORTHERLY PROLONGATION OF THE WEST LINE OF LOT 8 IN BLOCK 23 IN THE ORIGINAL TOWN OF JULIET (NOW JOLIET), A
SUBDIVISION OF THE SOUTHEAST FRACTIONAL QUARTER OF SECTION 9, TOWNSHIP 35 NORTH, RANGE 10, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN WILL COUNTY, ILLINOIS. 

PARCEL 11: 
 LOTS 3 AND 4 IN BLOCK 19 AND THE VACATED EAST AND
WEST ALLEY BETWEEN LOTS 2 AND 3 LYING EAST OF THE EAST LINE OF JOLIET STREET AND WEST OF THE WEST LINE OF THE NORTH AND SOUTH ALLEY IN SAID BLOCK 19, AS VACATED BY DOCUMENT NO. 384201, IN OLD TOWN OF JULIET, NOW JOLIET, IN SECTION 9, TOWNSHIP 35
NORTH, RANGE 10, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN WILL COUNTY, ILLINOIS. 
 PARCEL 12: 

LOT 2 IN BLOCK 19, IN OLD TOWN OF JULIET, NOW JOLIET, IN SECTION 9, TOWNSHIP 35 NORTH, RANGE 10, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN WILL COUNTY,
ILLINOIS. 

 PARCEL 13: 
 LOT 1
IN BLOCK 19 IN THE ORIGINAL TOWN OF JULIET, NOW JOLIET, IN THE SOUTHEAST QUARTER OF SECTION 9, TOWNSHIP 35 NORTH, RANGE 10, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED JUNE 10, 1834, IN BOOK 1 OF TRANSCRIBED
RECORDS, PAGES 36 AND 37, IN WILL COUNTY, ILLINOIS. 
 PARCEL 14: INTENTIONALLY DELETED. 

PARCEL 15: 
 LOT 5 IN BLOCK 10 IN THE ORIGINAL TOWN OF JULIET,
NOW JOLIET, A SUBDIVISION OF THE EAST FRACTIONAL PART OF THE SOUTHEAST QUARTER OF SECTION 9, TOWNSHIP 35 NORTH, RANGE 10, EAST OF THE THIRD PRINCIPAL MERIDIAN, 

TOGETHER WITH THE EAST HALF OF THE VACATED ALLEY, VACATED BY DOCUMENT NO. R95-85653 LYING WEST OF AND ADJOINING LOT 5,

 IN WILL COUNTY, ILLINOIS. 
 PARCEL 16: 

SUB LOTS 4, 5 AND 6 IN THE WILLIAM ADAM ESTATES SUBDIVISION OF LOTS 3 AND 4 IN BLOCK 10 IN THE ORIGINAL TOWN OF JULIET, NOW JOLIET, IN THE SOUTHEAST FRACTIONAL
QUARTER OF SECTION 9, TOWNSHIP 35 NORTH, RANGE 10, EAST OF THE THIRD PRINCIPAL MERIDIAN, TOGETHER WITH THE WEST HALF OF THE VACATED ALLEY, VACATED BY DOCUMENT NO. R95-85653, LYING EAST OF AND ADJOINING SAID
SUB LOT 6, IN WILL COUNTY, ILLINOIS. 

 EXHIBIT C 

CAPITAL EXPENDITURES REPORT 
 [SEE
ATTACHED] 

 EXHIBIT D 

FORM OF SCHEDULE CONTAINING ANY ADDITIONS TO OR RETIREMENTS OF 

ANY FIXED ASSETS CONSTITUTING LEASED PROPERTY 

DISPOSAL REPORT 
  

																																																									
	 Company

Code
	  	System
Number	 	  	Ext	 	  	Asset
ID	 	  	Asset Description	 	  	Class	 	  	In Svc
Date	 	  	Disposal
Date	 	  	DM	 	  	Acquired
Value	 	  	Current
Accum	 	  	Net
Proceeds	 	  	Gain/Loss
Adjustment	 	  	Realized
Gain/Loss	 	  	GL	 
		  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  				  				  				  				  				  				  				  				  				  				  				  				  				  			

 ADDITIONS REPORT 
  

																																									
	 Project/Job

Number
	  	System
Number	 	  	GL Asset
Account	 	  	Asset
ID	 	  	Accounting
Location	 	  	Asset Description	 	  	PIS Date	 	  	Enter Date	 	  	Est Life	 	  	Acq Value	 	  	Current
Accum	 
		  				  				  				  				  				  				  				  				  				  			
		  				  				  				  				  				  				  				  				  				  			
		  				  				  				  				  				  				  				  				  				  			

 NOTES 

 EXHIBIT E 

INTENTIONALLY OMITTED 

 EXHIBIT F 

INTENTIONALLY OMITTED 

 EXHIBIT G 

FORM OF REIT COMPLIANCE CERTIFICATE 

REIT COMPLIANCE CERTIFICATE 

Date:                    ,
20         
 This REIT Compliance Certificate (this “Certificate”) is given by
Tenant (as defined in that certain Lease (Joliet) (the “Lease”) dated as of [                    , 2017], by and between
Harrah’s Joliet Landco LLC (together with its successors and assigns, “Landlord”), and Des Plaines Development Limited Partnership (together with its successors and assigns, “Tenant”), pursuant to Article XL of
the Lease. Capitalized terms used herein without definition shall have the meanings set forth in the Lease. 
 By executing this
Certificate, Tenant hereby certifies to Landlord that Tenant has reviewed its transactions during the Fiscal Quarter ending [            ] and for such Fiscal Quarter Tenant is in
compliance with the provisions of Article XL of the Lease. Without limiting the generality of the foregoing, Tenant hereby certifies that for such Fiscal Quarter, Tenant has not, without Landlord’s advance written consent: 

 

	 	(i)	sublet, assigned or entered into a management arrangement for the Leased Property on any basis such that the rental or other amounts to be paid by the subtenant, assignee or manager thereunder would be based, in whole
or in part, on either (x) the income or profits derived by the business activities of the subtenant, assignee or manager or (y) any other formula such that any portion of any amount received by Landlord could reasonably be expected to
cause any portion of the amounts to fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto; 

 

	 	(ii)	furnished or rendered any services to the subtenant, assignee or manager or managed or operated the Leased Property so subleased, assigned or managed; 

 

	 	(iii)	sublet or assigned to, or entered into a management arrangement for the Leased Property with any Person (other than a “taxable REIT subsidiary” (within the meaning of Section 856(l) of the Code, or any similar
or successor provision thereto) of Landlord REIT) in which Tenant, Landlord or PropCo owns an interest, directly or indirectly (by applying constructive ownership rules set forth in Section 856(d)(5) of the Code, or any similar or successor
provision thereto); or 

  

	 	(iv)	sublet, assigned or entered into a management arrangement for the Leased Property in any other manner which could reasonably be expected to cause any portion of the amounts received by Landlord pursuant to the Lease or
any Sublease to fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto, or which could reasonably be expected to cause any other income of Landlord to
fail to qualify as income described in Section 856(c)(2) of the Code, or any similar or successor provision thereto. 

[Remainder of Page Intentionally Left Blank; Signature Page Follows] 

 IN WITNESS WHEREOF, this Certificate has been executed by Tenant on      day
of                     , 20        . 

 

	
	[            ]
	
	 Name:
                                         
                               

	
Title:                  
                                         
                

 EXHIBIT H 

PROPERTY-SPECIFIC IP 
  

																											
	 Trademark
	  	 Jurisdiction
	  	 Brand
	  	 Specific/
Enterprise
	  	 Property
	  	App. No.	 	  	App.
Date	 	  	Reg.
No.	 	  	Reg.
Date	 	  	 Status

	 Sheer
	  	United States of America	  	Harrah’s	  	Specific	  	Harrah’s Joliet	  	 	78/957904	 	  	 	8/22/2006	 	  	 	3245005	 	  	 	5/22/2007	 	  	Registered
	 The Reserve
	  	United States of America	  	Harrah’s	  	Specific	  	Harrah’s Joliet	  	 	77/457119	 	  	 	4/24/2008	 	  	 	3801600	 	  	 	6/15/2010	 	  	Registered

 EXHIBIT I 

DESCRIPTION OF TITLE POLICY 
 Title Policy Number
1401-8979703, in the amount of $420,000,000, with regard to the property located at Harrah’s Joliet 

 EXHIBIT J 

ADDITIONAL FEE MORTGAGEE REQUIREMENTS FOR EXISTING FEE MORTGAGE 

In this Schedule, all references to the Landlord Debt Documents (as defined below) or any provision thereof shall mean such documents or
provisions as in effect on the date hereof, regardless of any amendment or modification to such documents or provisions, or any defined terms used in the applicable provisions. 

REPRESENTATIONS 
 Tenant represents and warrants
to Landlord that as of the Commencement Date: 
  

	1.	None of the Leased Properties is in violation of (nor will the continued operation of the Leased Properties as currently conducted violate) any law (including the USA PATRIOT Act), rule or regulation (including any
zoning, building, ordinance, code or approval or any building permit, but excluding any Environmental Laws, which are subject to paragraph 2 below) or any restriction of record or agreement affecting any Leased Property, or is in default with
respect to any judgment, writ, injunction or decree of any Governmental Authority, where such violation or default would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect (as defined below).

  

	2.	Except as provided on Schedule 3.16 to the Landlord Credit Agreement or to matters that would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect: (i) there are no
judicial, administrative or other actions, suits or proceedings pending which allege a violation of any Environmental Laws at the Leased Properties; and (ii) each of the Tenant and its Subsidiaries has all environmental permits, licenses and
other approvals necessary for its operations at the Leased Properties to comply with all Environmental Laws and is in compliance with the terms of such permits, licenses and other approvals and with all other Environmental Laws. 

 

	3.	Each Documented Vessel is insured in accordance with the provisions of the Ship Mortgage on such Documented Vessel (or to be recorded on such Documented Vessel in accordance herewith) and the requirements thereof in
respect of such insurance will have been complied with. 

  

	4.	Each Documented Vessel has been issued a certificate of documentation with such endorsements as shall qualify the Documented Vessel for participation in the trades and services to which it may be dedicated from time to
time. 

  

	5.	The Tenant and each of its Subsidiaries are in compliance with all Gaming Laws that are applicable to them and their businesses and the failure to comply with which would result in Landlord or its Subsidiaries failing
to comply with Gaming Laws applicable to them or their businesses, except where a failure to so comply would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect under and as defined in the Landlord Credit
Agreement. 

	6.	There are no actions, suits or proceedings at law or in equity or by or on behalf of any Governmental Authority or in arbitration now pending against the Leased Properties which would reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect. 

  

	7.	All written information (other than the Projections, estimates, budgets, forward-looking information and information of a general economic nature or general industry nature) (the “Information”)
concerning the Tenant, its Subsidiaries, or their businesses conducted at the Leased Properties that was (i) prepared by or on behalf of the foregoing or their representatives, (ii) made available to the Landlord and
(iii) incorporated into, or used to form the basis of, information regarding Landlord’s or its Subsidiaries’ businesses that was delivered to the Collateral Agent, when taken as a whole, was true and correct in all material respects,
as of the date such Information was furnished to the Landlord and did not, taken as a whole, contain any untrue statement of a material fact as of any such date or omit to state a material fact necessary in order to make the statements contained
therein, taken as a whole, not materially misleading in light of the circumstances under which such statements were made (in each case giving effect to all supplements and updates provided thereto). 

 

	8.	The Projections prepared by or on behalf of the Tenant or any of its Representatives and that have been made available to the Landlord have been prepared in good faith based upon assumptions believed by the Tenant to be
reasonable as of the date thereof (it being understood such Projections are as to future events and are not to be viewed as facts, such Projections are subject to significant uncertainties and contingencies and that actual results during the period
or periods covered by any such Projections may differ significantly from the projected results, that no assurances can be given that the projected results will be realized and that such Projections are not a guaranty of performance), as of the date
such Projections were furnished to the Landlord. 

 COVENANTS 

 

	1.	Except where the failure to do so would not reasonably be expected to have a Material Adverse Effect, Tenant shall do or cause to be done all things necessary to at all times maintain and preserve all tangible property
necessary to the normal conduct of its business at the Leased Properties and keep the Leased Properties in good repair, working order and condition (ordinary wear and tear, casualty and condemnation or as otherwise permitted excepted), from time to
time make, or cause to be made, all needful and proper repairs, renewals, additions, improvements and replacements thereto necessary in order that the business carried on in connection therewith, if any, may be properly conducted at all times (in
each case except as permitted by this Lease). 

  

	2.	 Tenant and its Subsidiaries shall maintain, with financially sound and reputable insurance companies (as
determined in good faith by Tenant), insurance (subject to customary deductibles and retentions) in such amounts and against such risks as are customarily and reasonably maintained by similarly situated companies engaged in the same or similar
businesses operating in the same or similar locations (as determined in good faith by Tenant). Notwithstanding the foregoing, the Tenant and its Subsidiaries may self-insure 

	 	
with respect to such risks with respect to which companies of established reputation engaged in the same general line of business in the same general area usually self-insure (as determined in
good faith by the Tenant). 

  

	3.	With respect to the Leased Properties, if at any time the area in which the Leased Properties are located is designated a “flood hazard area” in any Flood Insurance Rate Map published by the Federal Emergency
Management Agency (or any successor agency) such Leased Property shall be insured to the extent required to comply with the National Flood Insurance Program as set forth in the Flood Disaster Protection Act of 1973, as it may be amended from time to
time. 

  

	4.	Each Documented Vessel shall be insured in accordance with the provisions of the Ship Mortgage on such Documented Vessel (or to be recorded on such Documented Vessel in accordance herewith). 

 

	5.	Within 30 days of the Commencement Date (or such later date agreed by Landlord), Tenant shall provide Landlord endorsements satisfying the requirements of clause (a) of Section 5.02 of the
Landlord Credit Agreement. 

  

	6.	Tenant shall comply with all laws, rules, regulations and orders of any Governmental Authority applicable to the Leased Properties, including all Gaming Regulations and the Economic Sanction Laws, except that the Tenant
and its Subsidiaries need not comply with any laws, rules, regulations and orders of any Governmental Authority then being contested by any of them in good faith by appropriate proceedings, and except where the failure to do so, individually or in
the aggregate, would not reasonably be expected to result in a Material Adverse Effect; provided that this paragraph 6 shall not apply to Environmental Laws, which are the subject of paragraph 7 below, or to laws related to Taxes.

  

	7.	Tenant shall permit any Persons designated by the Landlord to visit and inspect the Leased Properties at reasonable times, upon reasonable prior notice to the Tenant, and as often as reasonably requested.

  

	8.	Tenant shall comply with all Environmental Laws applicable to the Leased Properties; and obtain and renew all material authorizations and permits required pursuant to Environmental Law for the Leased Properties, in each
case in accordance with Environmental Laws; except, in each case with respect to this paragraph 7, to the extent the failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

  

	9.	After the occurrence of a default by Tenant under the Lease that gives rise to an Event of Default under the Landlord Credit Agreement and during the continuance of such Event of Default, and upon five (5) Business
Days prior written notice from Landlord, the Tenant shall grant Landlord access to the Leased Properties and its records and business so that Landlord may verify under reasonable procedures the validity, amount, quality, quantity, value, condition
and status of, or any other matter relating to, the Leased Properties. The Landlord shall have the right to share any information it gains from such inspection or verification with any of its creditors. 

	10.	Tenant covenants that it shall not cause or permit any Vessel to be operated in any manner contrary to law and shall not engage in any unlawful trade or violate any law that will expose any Vessel to penalty, forfeiture
or capture in a manner reasonably expected to cause a Material Adverse Effect. 

  

	11.	Tenant shall pay and discharge when due and payable, from time to time, all taxes, assessments, governmental charges, fines and penalties lawfully imposed on any Vessel if the
non-payment of same could reasonably be expected to result in the imposition of an encumbrances which is not a Permitted Encumbrance or could otherwise reasonably be expected to cause a Material Adverse
Effect. 

  

	12.	Tenant shall place or cause to be placed, and at all times and places shall retain or cause to be retained, a properly certified copy of each Ship Mortgage on board each applicable Vessel with her papers and shall cause
such certified copy and such papers to be exhibited to any and all Persons having business therewith that might give rise to any Lien thereon other than Liens for crew’s wages and salvage, or other Permitted Encumbrances, and to any
representative of Landlord; and shall place or cause to be placed and keep prominently displayed or cause to be prominently displayed in the chart room, in the Master’s cabin, or principal operations office of each Vessel a framed printed
notice in plain type reading as follows: 

 NOTICE OF MORTGAGE 

This Vessel is documented in the name of [    ] and is covered by a FIRST PREFERRED SHIP MORTGAGE to WILMINGTON TRUST,
NATIONAL ASSOCIATION, AS COLLATERAL AGENT, under authority of the United States Ship Mortgage Act of 1920, as amended, recodified at 46 U.S.C. § 31301 et seq., as amended. Under the terms of said Mortgage, neither the Shipowner, nor any
other person has any right, power or authority to create, incur or permit to be imposed upon this Vessel any lien whatsoever other than for crew’s wages and salvage and other Permitted Liens.” 

 

	13.	The Tenant shall at all times and without cost or expense to Landlord maintain and preserve, or cause to be maintained and preserved, each Vessel in good running order and repair, so that each Vessel shall be, in so far
as due diligence can make her so, tight, staunch, strong and well and sufficiently tackled, apparelled, furnished, equipped and in every respect seaworthy and in good operating condition for its intended use, except in any such case, to the extent
that the failure to do so could not reasonably be expected to have a Material Adverse Effect. The Tenant covenants that it shall, at all times comply with all applicable laws, treaties and conventions of the United States, and the rules and
regulations issued thereunder, and shall have on board as and when required thereby valid certificates showing compliance therewith to the extent non-compliance is reasonably expected to cause a Material
Adverse Effect. The Tenant shall not make, or permit to be made, any substantial change in the structure, type or speed of any Vessel to the extent such changes would result in a need to redocument such Vessel with the National Vessel Documentation
Center, without the prior written consent of Landlord, which consent shall not unreasonably be refused or denied so long as the applicable Ship Mortgage is preserved as a first preferred mortgage. 

	14.	With reasonable prior notice, Tenant shall at all times afford the Landlord or its authorized representatives, at the risk and expense of the Tenant, full and complete access to the Vessel at any and from time to time
during normal business hours for the purpose of inspecting the same. 

  

	15.	Tenant shall not transfer or change the flag of any Vessel without the written consent of the Landlord first had and obtained, and any such written consent to any one transfer or change of flag shall not be construed to
be a waiver of this provision with respect to any subsequent proposed transfer or change of flag. 

  

	16.	Tenant shall, at its expense, when and so long as any Ship Mortgage shall be outstanding, insure the applicable Vessel and keep such Vessel insured, in lawful money of the United States, for an amount not less than the
full commercial value of such Vessel. Such Vessel shall in no event be insured for an amount less than the agreed valuation as set forth in the applicable marine policies. Such insurance shall cover marine perils, on hull and machinery, and shall be
maintained in the broadest forms available in the American or British insurance markets or such other markets as may be satisfactory to Landlord. Such Vessel shall not operate in or carry any cargoes or proceed into any area then excluded by trading
warranties under its marine policies (including protection and indemnity) without obtaining any necessary additional coverage, satisfactory in form and substance, and evidence of which shall be furnished, to Landlord. 

 

	17.	 The policy or policies of insurance shall be issued by responsible underwriters of recognized standing, shall
contain customary conditions, terms, stipulations and shall be kept in full force and effect by Tenant so long as the applicable Ship Mortgage shall be outstanding. All such policies, binders, cover notes and other interim insurance contracts shall
be executed and issued in the name of Tenant and shall, to the extent that the Landlord Credit Agreement shall require, provide that loss be payable to the Collateral Agent for distribution in accordance with the terms of the Lease and shall provide
for at least thirty days’ prior notice to be given the Collateral Agent by the broker and/or underwriters in the event of cancellation. The Collateral Agent (and such other Persons as the Collateral Agent may designate from time to time) shall
be named as additional insured or lenders loss payee, as applicable, on all such policies, cover notes and insurance contracts but without liability of the Collateral Agent or any such other Person for premiums or calls. All such cover notes, and if
requested by the Collateral Agent at any time and from time to time all such policies, binders and other interim insurance contracts, shall be deposited with the Collateral Agent. Tenant shall furnish or cause to be furnished to the Collateral Agent
annually a detailed report signed by a firm or firms of marine insurance brokers satisfactory to the Collateral Agent as to the insurance maintained in respect of the applicable Vessel, as to their opinion that such insurances are at least
comparable to that which is customarily maintained for properties of a similar character employed under similar conditions of operation by prudent companies engaged in a similar business and as to compliance with the provisions of this paragraph
16. In addition, Tenant shall maintain or cause to be maintained protection and indemnity 

	 	
insurance and coverage that is carried and maintained for properties of a similar character employed under similar conditions of operation by prudent companies engaged in a similar business and
in the maximum available amount on commercially reasonable terms against pollution liability, through underwriters or associations of recognized standing on commercially reasonable terms with respect to coverage other than pollution liability that
is carried and maintained for properties of a similar character employed under similar conditions of operation by prudent companies engaged in a similar business. Such insurance policies shall provide for at least thirty days’ prior notice to
be given to the Collateral Agent by the underwriters or association or insurance broker in the event of cancellation and at least ten days prior notice to be given to the Collateral Agent by the underwriters or association or insurance broker in the
event of the failure of Tenant to pay any premium or call that would suspend coverage under the policy or the payment of a claim thereunder. Upon request, Tenant shall furnish a copy of each insurance policy with respect to any Vessel to the
Collateral Agent. 

 Any loss under any insurance on any Vessel with respect to protection and indemnity risks shall be paid to
the Person to whom any liability covered by such insurance has been incurred. Any loss under any insurance with respect to any Vessel involving any damage to such Vessel (other than a loss under any insurance on such Vessel with respect to
protection and indemnity risks), shall be paid directly to the repairer or, if Tenant repaired the damage to such Vessel and the cost thereof, then to Tenant in reimbursement thereof. 

 

	18.	Tenant shall comply with and satisfy all of the provisions of any applicable law, regulation, proclamation or order concerning financial responsibility for liabilities imposed on Tenant or the applicable Vessel with
respect to pollution including, without limitation, the U.S. Water Pollution Control Act, as amended by the Water Pollution Control Act Amendment of 1972 and as it may be further amended, the Oil Pollution Act of 1990 as amended from time to time,
and the Hazardous Materials Transportation Act as amended from time to time, and shall maintain all certificates or other evidence of financial responsibility as may be required by any such law, regulation, proclamation or order with respect to the
trade in which such Vessel from time to time is engaged and the cargoes carried by it, except in each case to the extent the failure to comply would not reasonably be expected to have a Material Adverse Effect. 

 

	19.	All hull and machinery Insurances relating to the Vessel shall contain a lenders loss payee and mortgagee interests and obligations endorsement in the form of Exhibit 1 hereto or in such other form as the Assignee may
reasonably agree. 

  

	20.	All entries in Protection and Indemnity Associations or Clubs or insurances effected in lieu of such entries relating to the Vessel shall contain a lenders loss payee and mortgagee interests and obligations endorsement
in the form of Exhibit 1 hereto or in such other form as the Assignee may agree, and the proceeds of such protection and indemnity entries or insurance coverages in lieu thereof shall be paid on behalf of the Assignor for any sums which the
Assignor, as owner of the Vessel, shall become liable to pay, in respect of any casualty or occurrence during the currency of such entries or insurances but only in respect of the matters covered thereby. 

	21.	All hull and machinery Insurances (as defined in the Insurance Assignment) relating to any Vessel shall contain a lenders loss payee and mortgagee interests and obligations endorsement in the form of Exhibit 1 hereto or
in such other form as the Collateral Agent may reasonably agree. 

  

	22.	All entries in Protection and Indemnity Associations or Clubs or insurances effected in lieu of such entries relating to any Vessel shall contain a lenders loss payee and mortgagee interests and obligations endorsement
in the form of Exhibit 1 hereto or in such other form as the Collateral Agent may agree, and the proceeds of such protection and indemnity entries or insurance coverages in lieu thereof shall be paid on behalf of Tenant for any sums which Tenant, as
tenant of the Vessel, shall become liable to pay, in respect of any casualty or occurrence during the currency of such entries or insurances but only in respect of the matters covered thereby. 

Exhibit 1 
 LENDERS LOSS
PAYEE AND MORTGAGEE INTERESTS AND OBLIGATIONS 
 All third parties having an interest in property insured by this Policy, as required by
lease, contract or agreement, shall automatically be Additional Insureds hereunder. 
 All other third parties including, but not limited to,
Loss Payees and Mortgagees who have an interest in the property insured by this Policy shall be automatically named as Loss Payees or Mortgagees, and loss, if any, under this Policy shall be adjusted with the Insured and payable to the Insured and
the Additional Insureds, Loss Payees or Mortgagees according to their respective insurable interests. 
  

	 	A.	The Insurer will pay for loss to specified property insured under this Policy to each Lender Loss Payee (hereinafter referred to as Lender) as its interest may appear, and to each specified Mortgagee as its interest may
appear, under all present or future mortgages upon such property, in order of precedence of the mortgages. 

  

	 	B.	The interest of the Lender or Mortgagee (as the case may be) in property insured under this Policy will not be invalidated by: 

  

	 	1)	any act or neglect of the debtor, mortgagor, or owner (as the case may be) of the property. 

  

	 	2)	foreclosure, notice of sale, or similar proceedings with respect to the property. 

  

	 	3)	change in the title or ownership of the property. 

  

	 	4)	change to a more hazardous occupancy. 

 The Lender or Mortgagee will notify the Insurer of any
known change in ownership, occupancy, or hazard and, within 10 days of written request by the Insurer, may pay the increased premium associated with such known change. If the Lender or Mortgagee fails to pay the increased premium, all insurance
under this Policy will cease. 

	 	C.	If this Policy is cancelled at the request of the Insured or its agent, the insurance for the interest of the Lender or Mortgagee will terminate 10 days after the Insurer sends to the Lender or Mortgagee written notice
of cancellation, unless: 

  

	 	1)	sooner terminated by authorization, consent, approval, acceptance, or ratification of the Insured’s action by the Lender or Mortgagee, or its agent. 

 

	 	2)	this Policy is replaced by the Insured, with a policy providing insurance for the interest of the Lender or Mortgagee, in which event insurance under this Policy with respect to such interest will terminate as of the
effective date of the replacement policy, notwithstanding any other provision of this Policy. 

  

	 	D.	The Insurer may cancel this Policy and/or the interest of the Lender or Mortgagee under this Policy, by giving the Lender or Mortgagee written notice 60 days prior to the effective date of cancellation, if cancellation
is for any reason other than non-payment. If the debtor, mortgagor, or owner has failed to pay any premium due under this Policy, the Insurer may cancel this Policy for such
non-payment, but will give the Lender or Mortgagee written notice 10 days prior to the effective date of cancellation. If the Lender or Mortgagee fails to pay the premium due by the specified cancellation
date, all insurance under this Policy will cease. 

  

	 	E.	If the Insurer pays the Lender or Mortgagee for any loss, and denies payment to the debtor, mortgagor or owner, the Insurer will, to the extent of the payment made to the Lender or Mortgagee be subrogated to the rights
of the Lender or Mortgagee under all securities held as collateral to the debt or mortgage. No subrogation will impair the right of the Lender or Mortgagee to sue or reinsure the full amount of its claim. At its option, the Insurer may pay to the
Lender or Mortgagee the whole principal due on the debt or mortgage plus any accrued interest. In this event, all rights and securities will be assigned and transferred from the Lender or Mortgagee to the Insurer, and the remaining debt or mortgage
will be paid to the Insurer. 

  

	 	F.	If the Insured fails to render proof of loss, the Lender or Mortgagee, upon notice of the Insured’s failure to do so, will render proof of loss within 60 days of notice and will be subject to the provisions of this
Policy relating to Appraisal, Settlement of Claims, and Suit Against the Insurer. 

  

	 	G.	Other provisions relating to the interests and obligations of the Lender or Mortgagee may be added to this Policy by agreement in writing. 

DEFINITIONS 
 All capitalized terms used in this
Schedule shall have the meanings set forth in the Lease and, if not defined therein, then the following meanings: 
 “Closing Date” shall
mean the “Closing Date” referred to in the Landlord Credit Agreement. 

 “Collateral Agent” has the meaning given to such term in the Landlord Credit Agreement. 

“Documented Vessel” shall mean any Vessel which has a current and valid certificate of documentation issued by the NVDC. 

“Economic Sanctions Laws” means (i) the Trading with the Enemy Act (50 U.S.C. App. §§ 5(b) and 16, as amended, modified, or
supplemented from time to time), the International Emergency Economic Powers Act, (50 U.S.C. §§ 1701-1706, as amended, modified, or supplemented from time to time), Executive Order 13224 (effective September 24, 2001), as amended,
modified, or supplemented from time to time and any successor thereto, and the regulations administered and enforced by OFAC and (ii) any and all other laws, judgments, orders, executive orders, decrees, ordinances, rules, regulations,
statutes, case law or treaties applicable to Tenant, its Subsidiaries or Affiliates relating to economic sanctions and terrorism financing. 

“Environmental Laws” shall mean all applicable laws (including common law), rules, regulations, codes, ordinances, orders, decrees or
judgments, promulgated or entered into by any Governmental Authority, relating to the protection of the environment, reclamation of natural resources, the generation, management, Release or threatened Release of, or exposure to, any Hazardous
Material or to the protection of human health and safety (to the extent relating to the protection of the environment or exposure to or management of Hazardous Materials). 

“Governmental Authority” shall mean any federal, state, local or foreign court or governmental agency, authority, instrumentality or
regulatory or legislative body (including any supra-natural bodies such as the European Union or the European Central Bank). 
 “Hazardous
Materials” shall mean all pollutants, contaminants, and toxic or hazardous wastes, chemicals, materials, substances and constituents, including, without limitation, explosive or radioactive substances or petroleum or petroleum distillates,
asbestos or asbestos containing materials, polychlorinated biphenyls or radon gas, of any nature subject to regulation or which can give rise to liability under any Environmental Law. 

“Insurance Assignment” has the meaning given to such term in the Landlord Credit Agreement. 

“Landlord Credit Agreement” shall mean that certain First Lien Credit Agreement, dated as of [●], 2017, among [Merger Newco], a
Delaware corporation, VICI Properties 1 LLC, a Delaware limited liability company, the lenders and other parties from time to time party thereto and [●], as administrative agent. 

“Landlord Debt Documents” shall mean the Landlord Credit Agreement, the Loan Documents (as defined in the Landlord Credit Agreement), the
Landlord First Lien Indenture, the Notes (as defined in the Landlord First Lien Indenture), the Security Documents (as defined in the Landlord First Lien Indenture), the Landlord Second Lien Indenture, the Notes (as defined in the Landlord Second
Lien Indenture) and the Security Documents (as defined in the Landlord Second Lien Indenture). 
 “Landlord First Lien Indenture” shall
mean that certain Indenture, dated as of [●], 2017, among VICI Properties 1 LLC, a Delaware limited liability company, VICI FC Inc., a Delaware 

 
corporation, VICI NC LLC, a Delaware limited liability company, the subsidiary guarantors party thereto from time to time, and UMB Bank, National Association, as trustee, for the First-Priority
Senior Secured Floating Rate Notes due 2022. 
 “Landlord Second Lien Indenture” shall mean that certain Indenture, dated as of [●],
2017, among VICI Properties 1 LLC, a Delaware limited liability company, VICI FC Inc., a Delaware corporation, VICI NC LLC, a Delaware limited liability company, the subsidiary guarantors party thereto from time to time, and UMB Bank, National
Association, as trustee, for the 8.0% Second-Priority Senior Secured Notes due 2023. 
 “Lien” shall mean, with respect to any asset,
(a) any mortgage, deed of trust, lien, hypothecation, pledge, charge, security interest or similar encumbrance in or on such asset and (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title
retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to such asset; provided that in no event shall an operating lease, the Lease Agreements, the Management and Lease
Support Agreement (in each case as defined in the Landlord Credit Agreement), or an agreement to sell be deemed to constitute a Lien. 
 “Material
Adverse Effect” shall mean a material adverse effect on the business, property, operations or financial condition of the Tenant and the Subsidiaries, taken as a whole, as relates to the Leased Property. 

“NVDC” shall mean the United States Coast Guard’s National Vessel Documentation Center or any successor entity. 

“Other First Lien Landlord Agreement” shall have the meaning given to the term “Other First Lien Agreement” in the Collateral
Agreement referred to in the Landlord Credit Agreement. 
 “Permitted Lien” has the meaning given to such term in the Landlord Credit
Agreement. 
 “Projections” shall mean the projections of the Tenant and its Subsidiaries and any forward-looking statements (including
statements with respect to booked business) of such entities furnished to the Landlord prior to the Closing Date. 
 “Release” shall mean
any spilling, leaking, seepage, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping, disposing, or depositing in, into, or onto the environment. 

“USA PATRIOT Act” shall mean the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act of 2001 (Title III of Pub. L. No. 107-56 (signed into law October 26, 2001)). 

“Ship Mortgage” has the meaning given to such term in the Landlord Credit Agreement. 

“Vessel” shall mean (i) any vessel, boat, ship, catamaran, riverboat, or barge of any kind or nature whatsoever, whether or not
temporarily or permanently moored or affixed to any real property, and includes its engines, machinery, boats, boilers, masts, rigging, anchors, chains, cables, apparel, tackle, outfit, spare gear, fuel, consumable or other stores, freights,
belongings 

 
and appurtenances, whether on board or ashore, whether now owned or hereafter acquired, and all additions, improvements and replacements hereafter made in or to said vessel, or any part thereof,
or in or to the stores, belongings and appurtenances aforesaid, (ii) any improvement to real property which is used or susceptible of use as a dockside, riverboat or water-based venue for business operations, (iii) any property which is a
vessel within the meaning given to that term in 1 U.S.C. § 3, and (iv) any property which would be a vessel within the meaning of that term as defined in 1 U.S.C. § 3 but for its removal from navigation for use in gaming or other
business operations and/or any modifications made thereto to facilitate dockside gaming or other business operations which may affect its seaworthiness, and, in each case, all appurtenances thereof. 

 SCHEDULE 1 

GAMING LICENSES 
  

													
	 Unique ID
	  	 Legal Entity

Name
	  	 License

Category
	  	 Type of License
	  	 Issuing Agency
	  	 State
	  	 Description of
License

	 453
	  	Des Plaines Development Limited Partnership	  	Gaming	  	Gaming License	  	State of Illinois	  	Illinois	  	Owner Licensee for Harrah’s Joliet Casino Hotel

 SCHEDULE 2 

GROUND LEASES 
 None. 

 SCHEDULE 3 

MAXIMUM FIXED RENT TERM 
  

					
	 Property Name
	  	 City, State
	  	 Maximum Fixed Rent Term

	 Harrah’s Joliet
	  	Joliet, Illinois	  	35

 SCHEDULE 4 

SPECIFIED SUBLEASES 
 None. 

 SCHEDULE 5 

RENT ALLOCATION 
  

																									
	 Period
	  	Original
Agreement
Rent/Base
Rent (w/
minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	 	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
	 Oct-17
	  	$	3,300,000	 	  	$	0	 	  	$	0	 	  	($	3,300,000	) 	 	($	8,250	) 	 	($	3,300,000	) 
							
	 Nov-17
	  	 	3,300,000	 	  	 	0	 	  	 	0	 	  	 	(3,300,000	) 	 	($	16,521	) 	 	 	(6,608,250	) 
							
	 Dec-17
	  	 	3,300,000	 	  	 	0	 	  	 	0	 	  	 	(3,300,000	) 	 	($	24,812	) 	 	 	(9,924,771	) 
							
	 Jan-18
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	33,124	) 	 	 	(13,249,583	) 
							
	 Feb-18
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	32,958	) 	 	 	(13,183,214	) 
							
	 Mar-18
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	32,792	) 	 	 	(13,116,679	) 
							
	 Apr-18
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	32,625	) 	 	 	(13,049,978	) 
							
	 May-18
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	32,458	) 	 	 	(12,983,110	) 
							
	 Jun-18
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	32,290	) 	 	 	(12,916,075	) 
							
	 Jul-18
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	32,122	) 	 	 	(12,848,873	) 
							
	 Aug-18
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	31,954	) 	 	 	(12,781,502	) 
							
	 Sep-18
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	31,785	) 	 	 	(12,713,963	) 
							
	 Oct-18
	  	 	3,300,000	 	  	 	3,376,599	 	  	$	3,399,493	 	  	 	99,493	 	 	 	(31,616	) 	 	 	(12,646,255	) 
							
	 Nov-18
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	31,446	) 	 	 	(12,578,378	) 
							
	 Dec-18
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	31,276	) 	 	 	(12,510,331	) 
							
	 Jan-19
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	31,105	) 	 	 	(12,442,114	) 
							
	 Feb-19
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	30,934	) 	 	 	(12,373,727	) 
							
	 Mar-19
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	30,763	) 	 	 	(12,305,168	) 
							
	 Apr-19
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	30,591	) 	 	 	(12,236,438	) 

																									
	 Period
	  	Original
Agreement
Rent/Base
Rent (w/
minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	  	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
	 May-19
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	30,419	) 	 	 	(12,167,537	) 
							
	 Jun-19
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	30,246	) 	 	 	(12,098,463	) 
							
	 Jul-19
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	30,073	) 	 	 	(12,029,216	) 
							
	 Aug-19
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	29,899	) 	 	 	(11,959,797	) 
							
	 Sep-19
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	29,726	) 	 	 	(11,890,203	) 
							
	 Oct-19
	  	 	3,300,000	 	  	 	3,376,599	 	  	$	3,399,493	 	  	 	99,493	 	  	 	(29,551	) 	 	 	(11,820,436	) 
							
	 Nov-19
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	29,376	) 	 	 	(11,750,494	) 
							
	 Dec-19
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	29,201	) 	 	 	(11,680,378	) 
							
	 Jan-20
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	29,025	) 	 	 	(11,610,086	) 
							
	 Feb-20
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	28,849	) 	 	 	(11,539,618	) 
							
	 Mar-20
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	28,672	) 	 	 	(11,468,975	) 
							
	 Apr-20
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	28,495	) 	 	 	(11,398,154	) 
							
	 May-20
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	28,318	) 	 	 	(11,327,157	) 
							
	 Jun-20
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	28,140	) 	 	 	(11,255,982	) 
							
	 Jul-20
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	27,962	) 	 	 	(11,184,629	) 
							
	 Aug-20
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	27,783	) 	 	 	(11,113,098	) 
							
	 Sep-20
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	27,603	) 	 	 	(11,041,388	) 
							
	 Oct-20
	  	 	3,300,000	 	  	 	3,376,599	 	  	$	3,399,493	 	  	 	99,493	 	  	 	(27,424	) 	 	 	(10,969,499	) 
							
	 Nov-20
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	27,244	) 	 	 	(10,897,430	) 
							
	 Dec-20
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	27,063	) 	 	 	(10,825,181	) 

																									
	 Period
	  	Original
Agreement
Rent/Base
Rent (w/
minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	  	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
	 Jan-21
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	26,882	) 	 	 	(10,752,751	) 
							
	 Feb-21
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	26,700	) 	 	 	(10,680,140	) 
							
	 Mar-21
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	26,518	) 	 	 	(10,607,348	) 
							
	 Apr-21
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	26,336	) 	 	 	(10,534,373	) 
							
	 May-21
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	26,153	) 	 	 	(10,461,216	) 
							
	 Jun-21
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	25,970	) 	 	 	(10,387,877	) 
							
	 Jul-21
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	25,786	) 	 	 	(10,314,354	) 
							
	 Aug-21
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	25,602	) 	 	 	(10,240,647	) 
							
	 Sep-21
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	25,417	) 	 	 	(10,166,756	) 
							
	 Oct-21
	  	 	3,300,000	 	  	 	3,376,599	 	  	$	3,399,493	 	  	 	99,493	 	  	 	(25,232	) 	 	 	(10,092,680	) 
							
	 Nov-21
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	25,046	) 	 	 	(10,018,419	) 
							
	 Dec-21
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	24,860	) 	 	 	(9,943,972	) 
							
	 Jan-22
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	24,673	) 	 	 	(9,869,339	) 
							
	 Feb-22
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	24,486	) 	 	 	(9,794,520	) 
							
	 Mar-22
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	24,299	) 	 	 	(9,719,513	) 
							
	 Apr-22
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	24,111	) 	 	 	(9,644,319	) 
							
	 May-22
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	23,922	) 	 	 	(9,568,937	) 
							
	 Jun-22
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	23,733	) 	 	 	(9,493,367	) 
							
	 Jul-22
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	23,544	) 	 	 	(9,417,607	) 
							
	 Aug-22
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	  	($	23,354	) 	 	 	(9,341,659	) 

																									
	 Period
	  	Original
Agreement
Rent/Base
Rent (w/
minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	 	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
							
	 Sep-22
	  	 	3,300,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	99,493	 	 	($	23,164	) 	 	 	(9,265,520	) 
							
	 Oct-22
	  	 	3,366,000	 	  	 	3,376,599	 	  	$	3,399,493	 	  	 	33,493	 	 	 	(23,138	) 	 	 	(9,255,191	) 
							
	 Nov-22
	  	 	3,366,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	33,493	 	 	($	23,112	) 	 	 	(9,244,836	) 
							
	 Dec-22
	  	 	3,366,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	33,493	 	 	($	23,086	) 	 	 	(9,234,456	) 
							
	 Jan-23
	  	 	3,366,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	33,493	 	 	($	23,060	) 	 	 	(9,224,049	) 
							
	 Feb-23
	  	 	3,366,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	33,493	 	 	($	23,034	) 	 	 	(9,213,616	) 
							
	 Mar-23
	  	 	3,366,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	33,493	 	 	($	23,008	) 	 	 	(9,203,158	) 
							
	 Apr-23
	  	 	3,366,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	33,493	 	 	($	22,982	) 	 	 	(9,192,673	) 
							
	 May-23
	  	 	3,366,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	33,493	 	 	($	22,955	) 	 	 	(9,182,162	) 
							
	 Jun-23
	  	 	3,366,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	33,493	 	 	($	22,929	) 	 	 	(9,171,624	) 
							
	 Jul-23
	  	 	3,366,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	33,493	 	 	($	22,903	) 	 	 	(9,161,061	) 
							
	 Aug-23
	  	 	3,366,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	33,493	 	 	($	22,876	) 	 	 	(9,150,471	) 
							
	 Sep-23
	  	 	3,366,000	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	33,493	 	 	($	22,850	) 	 	 	(9,139,854	) 
							
	 Oct-23
	  	 	3,433,320	 	  	 	3,376,599	 	  	$	3,399,493	 	  	 	(33,827	) 	 	 	(22,991	) 	 	 	(9,196,531	) 
							
	 Nov-23
	  	 	3,433,320	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	(33,827	) 	 	($	23,133	) 	 	 	(9,253,349	) 
							
	 Dec-23
	  	 	3,433,320	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	(33,827	) 	 	($	23,276	) 	 	 	(9,310,310	) 
							
	 Jan-24
	  	 	3,433,320	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	(33,827	) 	 	($	23,419	) 	 	 	(9,367,413	) 
							
	 Feb-24
	  	 	3,433,320	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	(33,827	) 	 	($	23,562	) 	 	 	(9,424,659	) 
							
	 Mar-24
	  	 	3,433,320	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	(33,827	) 	 	($	23,705	) 	 	 	(9,482,048	) 
							
	 Apr-24
	  	 	3,433,320	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	(33,827	) 	 	($	23,849	) 	 	 	(9,539,580	) 

																									
	 Period
	  	Original
Agreement
Rent/Base
Rent (w/
minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	 	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
	 May-24
	  	 	3,433,320	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	(33,827	) 	 	($	23,993	) 	 	 	(9,597,256	) 
							
	 Jun-24
	  	 	3,433,320	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	(33,827	) 	 	($	24,138	) 	 	 	(9,655,077	) 
							
	 Jul-24
	  	 	3,433,320	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	(33,827	) 	 	($	24,283	) 	 	 	(9,713,042	) 
							
	 Aug-24
	  	 	3,433,320	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	(33,827	) 	 	($	24,428	) 	 	 	(9,771,151	) 
							
	 Sep-24
	  	 	3,433,320	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	(33,827	) 	 	($	24,574	) 	 	 	(9,829,407	) 
							
	 Oct-24
	  	 	2,451,390	 	  	 	3,376,599	 	  	$	3,399,493	 	  	 	948,102	 	 	 	(22,265	) 	 	 	(8,905,878	) 
							
	 Nov-24
	  	 	2,451,390	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	948,102	 	 	($	19,950	) 	 	 	(7,980,040	) 
							
	 Dec-24
	  	 	2,451,390	 	  	 	3,376,599	 	  	 	3,399,493	 	  	 	948,102	 	 	($	17,630	) 	 	 	(7,051,888	) 
							
	 Jan-25
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(15,304	) 	 	 	(6,121,415	) 
							
	 Feb-25
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(15,189	) 	 	 	(6,075,441	) 
							
	 Mar-25
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(15,073	) 	 	 	(6,029,351	) 
							
	 Apr-25
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(14,958	) 	 	 	(5,983,147	) 
							
	 May-25
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(14,842	) 	 	 	(5,936,826	) 
							
	 Jun-25
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(14,726	) 	 	 	(5,890,390	) 
							
	 Jul-25
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(14,610	) 	 	 	(5,843,838	) 
							
	 Aug-25
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(14,493	) 	 	 	(5,797,170	) 
							
	 Sep-25
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(14,376	) 	 	 	(5,750,385	) 
							
	 Oct-25
	  	 	2,500,418	 	  	 	2,495,747	 	  	$	2,512,669	 	  	 	12,250	 	 	 	(14,381	) 	 	 	(5,752,510	) 
							
	 Nov-25
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(14,387	) 	 	 	(5,754,641	) 
							
	 Dec-25
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(14,392	) 	 	 	(5,756,778	) 

																									
	 Period
	  	Original
Agreement
Rent/Base
Rent (w/
minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	 	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
	 Jan-26
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(14,397	) 	 	 	(5,758,919	) 
							
	 Feb-26
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(14,403	) 	 	 	(5,761,066	) 
							
	 Mar-26
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(14,408	) 	 	 	(5,763,219	) 
							
	 Apr-26
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(14,413	) 	 	 	(5,765,377	) 
							
	 May-26
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(14,419	) 	 	 	(5,767,540	) 
							
	 Jun-26
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(14,424	) 	 	 	(5,769,708	) 
							
	 Jul-26
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(14,430	) 	 	 	(5,771,882	) 
							
	 Aug-26
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(14,435	) 	 	 	(5,774,062	) 
							
	 Sep-26
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(14,441	) 	 	 	(5,776,247	) 
							
	 Oct-26
	  	 	2,550,427	 	  	 	2,495,747	 	  	$	2,512,669	 	  	 	(37,758	) 	 	 	(14,571	) 	 	 	(5,828,445	) 
							
	 Nov-26
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(14,702	) 	 	 	(5,880,775	) 
							
	 Dec-26
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(14,833	) 	 	 	(5,933,235	) 
							
	 Jan-27
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(14,965	) 	 	 	(5,985,826	) 
							
	 Feb-27
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(15,096	) 	 	 	(6,038,548	) 
							
	 Mar-27
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(15,229	) 	 	 	(6,091,403	) 
							
	 Apr-27
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(15,361	) 	 	 	(6,144,389	) 
							
	 May-27
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(15,494	) 	 	 	(6,197,509	) 
							
	 Jun-27
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(15,627	) 	 	 	(6,250,760	) 
							
	 Jul-27
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(15,760	) 	 	 	(6,304,145	) 
							
	 Aug-27
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(15,894	) 	 	 	(6,357,664	) 

																									
	 Period
	  	Original
Agreement
Rent/Base
Rent (w/
minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	 	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
	 Sep-27
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(16,028	) 	 	 	(6,411,316	) 
							
	 Oct-27
	  	 	2,403,324	 	  	 	2,495,747	 	  	$	2,512,669	 	  	 	109,345	 	 	 	(15,795	) 	 	 	(6,318,000	) 
							
	 Nov-27
	  	 	2,403,324	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	109,345	 	 	 	(15,561	) 	 	 	(6,224,450	) 
							
	 Dec-27
	  	 	2,403,324	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	109,345	 	 	 	(15,327	) 	 	 	(6,130,667	) 
							
	 Jan-28
	  	 	2,403,324	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	109,345	 	 	 	(15,092	) 	 	 	(6,036,649	) 
							
	 Feb-28
	  	 	2,403,324	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	109,345	 	 	 	(14,856	) 	 	 	(5,942,396	) 
							
	 Mar-28
	  	 	2,403,324	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	109,345	 	 	 	(14,620	) 	 	 	(5,847,907	) 
							
	 Apr-28
	  	 	2,403,324	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	109,345	 	 	 	(14,383	) 	 	 	(5,753,183	) 
							
	 May-28
	  	 	2,403,324	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	109,345	 	 	 	(14,146	) 	 	 	(5,658,221	) 
							
	 Jun-28
	  	 	2,403,324	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	109,345	 	 	 	(13,908	) 	 	 	(5,563,022	) 
							
	 Jul-28
	  	 	2,403,324	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	109,345	 	 	 	(13,669	) 	 	 	(5,467,585	) 
							
	 Aug-28
	  	 	2,403,324	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	109,345	 	 	 	(13,430	) 	 	 	(5,371,909	) 
							
	 Sep-28
	  	 	2,403,324	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	109,345	 	 	 	(13,190	) 	 	 	(5,275,995	) 
							
	 Oct-28
	  	 	2,451,390	 	  	 	2,495,747	 	  	$	2,512,669	 	  	 	61,278	 	 	 	(13,070	) 	 	 	(5,227,906	) 
							
	 Nov-28
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(12,949	) 	 	 	(5,179,698	) 
							
	 Dec-28
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(12,828	) 	 	 	(5,131,369	) 
							
	 Jan-29
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(12,707	) 	 	 	(5,082,920	) 
							
	 Feb-29
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(12,586	) 	 	 	(5,034,349	) 
							
	 Mar-29
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(12,464	) 	 	 	(4,985,657	) 
							
	 Apr-29
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(12,342	) 	 	 	(4,936,843	) 

																									
	 Period
	  	Original
Agreement
Rent/Base
Rent (w/
minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	 	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
	 May-29
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(12,220	) 	 	 	(4,887,907	) 
							
	 Jun-29
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(12,097	) 	 	 	(4,838,848	) 
							
	 Jul-29
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(11,974	) 	 	 	(4,789,667	) 
							
	 Aug-29
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(11,851	) 	 	 	(4,740,364	) 
							
	 Sep-29
	  	 	2,451,390	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	61,278	 	 	 	(11,727	) 	 	 	(4,690,936	) 
							
	 Oct-29
	  	 	2,500,418	 	  	 	2,495,747	 	  	$	2,512,669	 	  	 	12,250	 	 	 	(11,726	) 	 	 	(4,690,413	) 
							
	 Nov-29
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(11,725	) 	 	 	(4,689,889	) 
							
	 Dec-29
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(11,723	) 	 	 	(4,689,364	) 
							
	 Jan-30
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(11,722	) 	 	 	(4,688,837	) 
							
	 Feb-30
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(11,721	) 	 	 	(4,688,309	) 
							
	 Mar-30
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(11,719	) 	 	 	(4,687,779	) 
							
	 Apr-30
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(11,718	) 	 	 	(4,687,248	) 
							
	 May-30
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(11,717	) 	 	 	(4,686,716	) 
							
	 Jun-30
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(11,715	) 	 	 	(4,686,183	) 
							
	 Jul-30
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(11,714	) 	 	 	(4,685,648	) 
							
	 Aug-30
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(11,713	) 	 	 	(4,685,112	) 
							
	 Sep-30
	  	 	2,500,418	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	12,250	 	 	 	(11,711	) 	 	 	(4,684,574	) 
							
	 Oct-30
	  	 	2,550,427	 	  	 	2,495,747	 	  	$	2,512,669	 	  	 	(37,758	) 	 	 	(11,835	) 	 	 	(4,734,044	) 
							
	 Nov-30
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(11,959	) 	 	 	(4,783,637	) 
							
	 Dec-30
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(12,083	) 	 	 	(4,833,354	) 

																									
	 Period
	  	Original
Agreement
Rent/Base
Rent (w/
minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	 	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
	 Jan-31
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(12,208	) 	 	 	(4,883,196	) 
							
	 Feb-31
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(12,333	) 	 	 	(4,933,162	) 
							
	 Mar-31
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(12,458	) 	 	 	(4,983,253	) 
							
	 Apr-31
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(12,584	) 	 	 	(5,033,469	) 
							
	 May-31
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(12,710	) 	 	 	(5,083,811	) 
							
	 Jun-31
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(12,836	) 	 	 	(5,134,278	) 
							
	 Jul-31
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(12,962	) 	 	 	(5,184,872	) 
							
	 Aug-31
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(13,089	) 	 	 	(5,235,592	) 
							
	 Sep-31
	  	 	2,550,427	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(37,758	) 	 	 	(13,216	) 	 	 	(5,286,439	) 
							
	 Oct-31
	  	 	2,601,435	 	  	 	2,495,747	 	  	$	2,512,669	 	  	 	(88,767	) 	 	 	(13,471	) 	 	 	(5,388,422	) 
							
	 Nov-31
	  	 	2,601,435	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(88,767	) 	 	 	(13,727	) 	 	 	(5,490,660	) 
							
	 Dec-31
	  	 	2,601,435	 	  	 	2,495,747	 	  	 	2,512,669	 	  	 	(88,767	) 	 	 	(13,983	) 	 	 	(5,593,153	) 
							
	 Jan-32
	  	 	2,601,435	 	  	 	2,936,173	 	  	 	2,956,081	 	  	 	354,645	 	 	 	(14,240	) 	 	 	(5,695,903	) 
							
	 Feb-32
	  	 	2,601,435	 	  	 	2,936,173	 	  	 	2,956,081	 	  	 	354,645	 	 	 	(13,389	) 	 	 	(5,355,497	) 
							
	 Mar-32
	  	 	2,601,435	 	  	 	2,936,173	 	  	 	2,956,081	 	  	 	354,645	 	 	 	(12,536	) 	 	 	(5,014,240	) 
							
	 Apr-32
	  	 	2,601,435	 	  	 	2,936,173	 	  	 	2,956,081	 	  	 	354,645	 	 	 	(11,680	) 	 	 	(4,672,130	) 
							
	 May-32
	  	 	2,601,435	 	  	 	2,936,173	 	  	 	2,956,081	 	  	 	354,645	 	 	 	(10,823	) 	 	 	(4,329,165	) 
							
	 Jun-32
	  	 	2,601,435	 	  	 	2,936,173	 	  	 	2,956,081	 	  	 	354,645	 	 	 	(9,963	) 	 	 	(3,985,343	) 
							
	 Jul-32
	  	 	2,601,435	 	  	 	2,936,173	 	  	 	2,956,081	 	  	 	354,645	 	 	 	(9,102	) 	 	 	(3,640,660	) 
							
	 Aug-32
	  	 	2,601,435	 	  	 	2,936,173	 	  	 	2,956,081	 	  	 	354,645	 	 	 	(8,238	) 	 	 	(3,295,117	) 

																									
	 Period
	  	Original
Agreement
Rent/Base
Rent (w/
minimum
Escalator)	 	  	Rent
Allocation	 	  	467 Rent	 	  	467 Rent
Adjustment	 	  	467
Interest	 	 	467 Loan
Balance
Beginning of
Period	 
							
	 Sep-32
	  	 	2,601,435	 	  	 	2,936,173	 	  	 	2,956,081	 	  	 	354,645	 	  	 	(7,372	) 	 	 	(2,948,709	) 
							
		  				  				  				  				  				 	 	0	 

 SCHEDULE 6 

LONDON CLUBS 
  

			
	 Property
	  	 Address

	 Golden Nugget (01120)
	  	 22 Shaftesbury Avenue, London W1D 7EJ

		
	 Sportsman (01110)
	  	 Old Quebec Street, London W1H 7AF

		
	 The Playboy Club/10 Brick Street (01140)
	  	 14 Old Park Lane, London W1K 1ND

		
	 Leicester Square (01180)
	  	 5-6 Leicester Square, London WC2H 7NA

		
	 Southend (01210)
	  	 Eastern Esplanade, Southend on Sea, Essex SS1 2ZG

		
	 Brighton (01220)
	  	 Brighton Marina Village, Brighton, Sussex BN2 5UT

		
	 Manchester (01240)
	  	 The Great Northern, Watson Street, Manchester M3 4LP

		
	 Nottingham (01270)
	  	 108 Upper Parliament Street, Nottingham NG1 6LF

		
	 Glasgow (01250)
	  	 Springfield Quay, Paisley Road, Glasgow G5 8NP

		
	 Leeds (01280)
	  	 4 The Boulevard, Clarence Dock, Leeds LS10 1PZEX-10.11

 Exhibit 10.11 

MANAGEMENT AND LEASE SUPPORT AGREEMENT 

(Non-CPLV) 

By and Among 
 CEOC, LLC
and the Entities Listed on Schedule B 
 (collectively, and together with their respective successors and permitted assigns)

 as “Tenant” 

Non-CPLV Manager, LLC 

(together with its successors and permitted assigns) 

as “Manager” 

Caesars Entertainment Corporation 

(together with its successors and permitted assigns) 

as “Lease Guarantor” 

The Entities Listed on Schedule A 

(collectively, and together with their respective successors and permitted assigns) 

as “Landlord” 

and, solely for purposes of Article VII and Sections 2.4, 16.2, 16.3.4,
18.5.5, 18.7.3,  
 18.7.4, 18.7.5, 19.3, 20.2 and 20.16, 

Caesars License Company, LLC 

(together with its successors and assigns) 

and, solely for purposes of Section 20.16 and Article XXI, 

Caesars Enterprise Services, LLC 

Dated as of October 2, 2017 

 TABLE OF CONTENTS 

 

									
	 	 	 	 	 	  	Page	 
	 ARTICLE I DEFINITIONS, EXHIBITS AND SCHEDULES
	  	 	2	 
		 	1.1	 	Definitions	  	 	2	 
		 	1.2	 	Exhibits and Schedules	  	 	2	 
		 	1.3	 	Structure of this Agreement; Integration; Consideration	  	 	2	 
		
	 ARTICLE II APPOINTMENT/TERM
	  	 	3	 
		 	2.1	 	Grant of Authority	  	 	3	 
		 	2.2	 	Limitations on Manager Authority	  	 	11	 
		 	2.3	 	Other Operations of Manager and Tenant	  	 	13	 
		 	2.4	 	Term	  	 	14	 
		 	2.5	 	Lease	  	 	15	 
		
	 ARTICLE III FEES AND EXPENSES
	  	 	16	 
		 	3.1	 	Centralized Services Charges	  	 	16	 
		 	3.2	 	Reimbursable Expenses	  	 	16	 
		 	3.3	 	Interest	  	 	16	 
		 	3.4	 	Payment of Fees and Expenses	  	 	16	 
		 	3.5	 	Application of Payments	  	 	17	 
		 	3.6	 	Sales and Use Taxes	  	 	17	 
		
	 ARTICLE IV CENTRALIZED SERVICES
	  	 	17	 
		 	4.1	 	Centralized Services	  	 	17	 
		
	 ARTICLE V OPERATION OF THE MANAGED FACILITIES
	  	 	18	 
		 	5.1	 	Annual Budget	  	 	18	 
		 	5.2	 	Maintenance and Repair; Capital Improvements	  	 	22	 
		 	5.3	 	Personnel	  	 	23	 
		 	5.4	 	Bank Accounts	  	 	24	 
		 	5.5	 	Funds for Operation of the Managed Facilities	  	 	27	 
		 	5.6	 	Purchasing	  	 	28	 
		 	5.7	 	Managed Facilities Parking	  	 	28	 
		 	5.8	 	Use of Affiliates by Manager	  	 	29	 
		 	5.9	 	Limitation on Manager’s Obligations	  	 	29	 
		 	5.10	 	Third-Party Operated Areas	  	 	30	 
		 	5.11	 	Amenities	  	 	31	 
		 	5.12	 	Modification of Operation of the Managed Facilities	  	 	31	 
		
	 ARTICLE VI APPROVALS
	  	 	31	 
		 	6.1	 	Gaming Licenses	  	 	31	 
		
	 ARTICLE VII PROPRIETARY RIGHTS
	  	 	32	 
		 	7.1	 	Managed Facilities IP	  	 	32	 
		 	7.2	 	Proprietary Information and Systems; Guest Data and Property Specific Guest Data	  	 	34	 

  
 i 

									
	 	 	 	 	 	  	Page	 
		 	7.3	 	Assignment of Derivative Works	  	 	35	 
		 	7.4	 	Survival	  	 	35	 
		
	ARTICLE VIII CONFIDENTIALITY	  	 	35	 
		 	8.1	 	Disclosure by Tenant	  	 	35	 
		 	8.2	 	Disclosure by Manager	  	 	37	 
		 	8.3	 	Disclosure by Landlord	  	 	38	 
		 	8.4	 	Public Statements	  	 	39	 
		 	8.5	 	Cumulative Remedies	  	 	40	 
		 	8.6	 	Survival	  	 	41	 
		
	ARTICLE IX MARKETING	  	 	41	 
		 	9.1	 	Marketing	  	 	41	 
		
	ARTICLE X BOOKS AND RECORDS	  	 	42	 
		 	10.1	 	Maintenance of Books and Records	  	 	42	 
		 	10.2	 	Monthly Financial Reports	  	 	43	 
		 	10.3	 	Tenant Financial Statements	  	 	43	 
		 	10.4	 	Other Reports and Schedules	  	 	44	 
		
	ARTICLE XI ASSIGNMENTS	  	 	44	 
		 	11.1	 	Assignment by Tenant	  	 	44	 
		 	11.2	 	Assignment by Manager	  	 	48	 
		 	11.3	 	Assignment by Lease Guarantor	  	 	49	 
		 	11.4	 	Assignment by Landlord	  	 	51	 
		 	11.5	 	Acknowledgement of Assignment	  	 	53	 
		 	11.6	 	Approvals	  	 	53	 
		 	11.7	 	Merger of CEOC	  	 	53	 
		
	ARTICLE XII INSURANCE, BONDING AND INDEMNIFICATION	  	 	53	 
		 	12.1	 	Tenant Insurance and Bonding Requirements	  	 	53	 
		 	12.2	 	Waiver of Liability	  	 	55	 
		 	12.3	 	Indemnification	  	 	55	 
		
	ARTICLE XIII LEASEHOLD FINANCING	  	 	57	 
		 	13.1	 	Leasehold Mortgages; Collateral Assignments; Non-Disturbance; Leasehold Foreclosure	  	 	57	 
		 	13.2	 	Default Notice to Leasehold Lender	  	 	58	 
		 	13.3	 	Lender’s Right of Access	  	 	59	 
		 	13.4	 	Disclosure of Mortgages and Security Interests	  	 	59	 
		 	13.5	 	Estoppel Certificates	  	 	59	 
		 	13.6	 	Tenant’s Lease Obligations	  	 	60	 
		
	ARTICLE XIV BUSINESS INTERRUPTION	  	 	60	 
		 	14.1	 	Business Interruption	  	 	60	 
		 	14.2	 	Proceeds of Business Interruption Insurance	  	 	61	 

  
 ii 

									
	 	 	 	 	 	  	Page	 
	ARTICLE XV CASUALTY OR CONDEMNATION	  	 	61	 
		 	15.1	 	Casualty	  	 	61	 
		 	15.2	 	Condemnation	  	 	61	 
		
	ARTICLE XVI DEFAULTS AND TERMINATIONS	  	 	62	 
		 	16.1	 	Events of Default	  	 	62	 
		 	16.2	 	Termination of this Agreement	  	 	67	 
		 	16.3	 	Actions To Be Taken on Termination of this Agreement or Termination of Manager	  	 	68	 
		 	16.4	 	Reduction in Scope of this Agreement Upon the Sale of a Managed Facility by Landlord	  	 	73	 
		 	16.5	 	Termination of Manager	  	 	73	 
		
	ARTICLE XVII LEASE GUARANTY	  	 	74	 
		 	17.1	 	Guaranteed Obligations	  	 	74	 
		 	17.2	 	Notice and Guaranty Payment Process	  	 	75	 
		 	17.3	 	Guaranty Provisions	  	 	76	 
		 	17.4	 	Guarantor Covenants	  	 	85	 
		 	17.5	 	Lease Guarantor Representations and Warranties	  	 	89	 
		 	17.6	 	Bankruptcy	  	 	89	 
		
	ARTICLE XVIII DISPUTE RESOLUTION	  	 	90	 
		 	18.1	 	Generally	  	 	90	 
		 	18.2	 	Expert Resolution	  	 	91	 
		 	18.3	 	Time Limit	  	 	92	 
		 	18.4	 	Prevailing Party’s Expenses	  	 	93	 
		 	18.5	 	WAIVERS	  	 	93	 
		 	18.6	 	Survival and Severance	  	 	94	 
		 	18.7	 	ACKNOWLEDGEMENTS	  	 	94	 
		 	18.8	 	IRREVOCABILITY OF CONTRACT	  	 	95	 
		 	18.9	 	Survival	  	 	96	 
		
	ARTICLE XIX GAMING LAW PROVISIONS	  	 	96	 
		 	19.1	 	Regulatory Matters; Initial Suitability Review	  	 	96	 
		 	19.2	 	Licensing Event	  	 	96	 
		 	19.3	 	Unlawful Payments	  	 	97	 
		
	ARTICLE XX GENERAL PROVISIONS	  	 	97	 
		 	20.1	 	Governing Law	  	 	97	 
		 	20.2	 	Construction of this Agreement	  	 	97	 
		 	20.3	 	Limitation on Liabilities	  	 	99	 
		 	20.4	 	Waivers	  	 	100	 
		 	20.5	 	Notices	  	 	100	 
		 	20.6	 	No Indirect Actions	  	 	102	 
		 	20.7	 	No Recordation	  	 	102	 
		 	20.8	 	Further Assurances	  	 	103	 
		 	20.9	 	Relationship of Certain Parties	  	 	103	 

  
 iii 

									
	 	 	 	 	 	  	Page	 
		 	20.10	 	Force Majeure	  	 	103	 
		 	20.11	 	Terms of Other Management Agreements	  	 	104	 
		 	20.12	 	Compliance with Law	  	 	104	 
		 	20.13	 	Insurance Programs and Purchasing Arrangements Generally	  	 	104	 
		 	20.14	 	Execution of Agreement	  	 	104	 
		 	20.15	 	Lease	  	 	104	 
		 	20.16	 	Omnibus Agreement; Services Co LLC Agreement	  	 	105	 
		
	ARTICLE XXI NON-CONSENTED LEASE TERMINATION	  	 	105	 
		 	21.1	 	Non-Consented Lease Termination	  	 	105	 
		 	21.2	 	Termination of MLSA or other Lease/MLSA Related Agreements	  	 	107	 
		 	21.3	 	Replacement Structure Fails to Occur	  	 	108	 
		 	21.4	 	Enforcement	  	 	108	 
		 	21.5	 	Survival	  	 	108	 

 EXHIBITS 
  

			
	 Exhibit A
	  	 Managed Facilities

	 Exhibit B
	  	 Definitions

	 Exhibit C
	  	 [Reserved]

	 Exhibit D
	  	 [Reserved]

	 Exhibit E
	  	 Trademarks

	 Exhibit F
	  	 List of Brands

	 Exhibit G
	  	 Property Specific IP

	
	SCHEDULES
		
	Schedule A	  	Landlord Entities
	Schedule B	  	Tenant Entities

  
 iv 

 MANAGEMENT AND LEASE SUPPORT AGREEMENT 

(Non-CPLV) 

This MANAGEMENT AND LEASE SUPPORT AGREEMENT (this “Agreement”) is dated as of October 2, 2017, and is made and entered
into by and among CEOC, LLC, a Delaware limited liability company, and the entities listed on Schedule B attached hereto (collectively or, if the context clearly requires, individually, and together with their respective successors and
permitted assigns, “Tenant”), Non-CPLV Manager, LLC, a Delaware limited liability company (together with its successors and permitted assigns, “Manager”), Caesars
Entertainment Corporation, a Delaware corporation (together with its successors and permitted assigns, “CEC”, and sometimes alternatively referred to herein as “Lease Guarantor”), the entities listed on Schedule
A attached hereto (collectively or, if the context clearly requires, individually, and together with their respective successors and permitted assigns, “Landlord”), solely for purposes of Article VII
and Sections 2.4, 16.2, 16.3.4, 18.5.5, 18.7.3, 18.7.4, 18.7.5, 19.3, 20.2 and 20.16, Caesars License Company, LLC, a Nevada limited liability company (together with
its successors and assigns, “CLC”), and, solely for purposes of Section 20.16 and Article XXI, Caesars Enterprise Services, LLC, a Delaware limited liability company (together with its successors and
assigns, “CES”). Tenant, Manager, Lease Guarantor and Landlord are sometimes referred to collectively in this Agreement as the “Parties” and individually as a “Party”. 

RECITALS 
 A. Pursuant to
the terms of that certain Lease (Non-CPLV) dated as of the date hereof among Tenant, as “Tenant” thereunder, and Landlord, as Landlord thereunder (such Lease, as amended, restated, supplemented or
otherwise modified from time to time in accordance with its terms, the “Lease”), Tenant will lease the Leased Property (as defined in the Lease) from Landlord. 

B. Tenant intends to operate the Facilities (as defined in the Lease) scheduled on Exhibit A attached hereto as
Gaming Facilities in accordance with the Primary Intended Use (each as defined in the Lease) (each such Facility, a “Managed Facility”, and all such Facilities, collectively, the “Managed Facilities”). 

C. Manager is a wholly owned indirect subsidiary of CEC with experience in operating Gaming, hotel, entertainment and related businesses. 

D. Tenant desires to engage Manager to manage and operate the Managed Facilities under and utilizing the Brands, and Manager desires to manage
and operate the Managed Facilities under and utilizing the Brands. 
 E. Lease Guarantor will guarantee to Landlord the payment and
performance of all monetary obligations of Tenant under the Lease as more particularly described herein, on the terms and subject to the provisions, terms and conditions of this Agreement. 

 F. Immediately following the execution of this Agreement, Caesars Entertainment Operating
Company, Inc., a Delaware corporation, will merge into CEOC, LLC, a Delaware limited liability company. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the recitals and covenants set forth in this Agreement, and in consideration of the entry by the Parties
into the Lease/MLSA Related Agreements as more particularly described in Section 1.3 below and other good and valuable consideration, the receipt and sufficiency of which are acknowledged by the Parties, the Parties agree
as follows: 
 ARTICLE I 

DEFINITIONS, EXHIBITS AND SCHEDULES 

1.1 Definitions. All capitalized terms used without definition in the body of this Agreement shall have the meanings assigned to such
terms in Exhibit B attached hereto and by this reference incorporated herein. 
 1.2 Exhibits and
Schedules. The exhibits and schedules listed in the table of contents and attached hereto are incorporated in, and deemed to be an integral part of, this Agreement. 

1.3 Structure of this Agreement; Integration; Consideration. Tenant, Manager, CEC and Landlord each acknowledge and agree that, as of
the date hereof, certain operating efficiencies and value will be achieved as a result of Tenant’s engagement of Manager and/or Manager’s Affiliates to operate and manage the Managed Facilities, the Other Managed Facilities and the Other
Managed Resorts that would not be possible to achieve if unrelated managers were engaged to operate each of the Managed Facilities, the Other Managed Facilities and the Other Managed Resorts. The Parties further acknowledge and agree that the
Parties would not enter into this Agreement, the Lease or any of the other Lease/MLSA Related Agreements absent the understanding and agreement of the Parties that the entire ownership, operation, management, lease and Lease Guaranty relationship
with respect to the Managed Facilities, including the lease of the Managed Facilities pursuant to the Lease, the use of the Managed Facilities IP and the use of the Total Rewards Program, together with the other related Intellectual Property
arrangements contemplated hereunder and under the Omnibus Agreement and the Transition Services Agreement, all of the other covenants, obligations and agreements of the Parties hereunder and all of the covenants, obligations and agreements of each
of the parties under each of the other Lease/MLSA Related Agreements, form part of a single integrated transaction. Accordingly, it is the express intention and agreement of the Parties that (a) each of the provisions of this Agreement,
including (without limitation) the management and Lease Guaranty rights and obligations hereunder, form part of a single integrated agreement and shall not be or be deemed to be separate or severable agreements (except to the extent expressly set
forth in Section 16.4) and (b) the Parties would not be entering into any of this Agreement, the Lease, or the other Lease/MLSA 

  
 2 

 
Related Agreements without, in each case, contemporaneously entering into each and every other one of such agreements, and, accordingly, in the event of any dispute or litigation, or any
bankruptcy, insolvency, dissolution or any other proceedings in respect of any Party, such Party will not (and all other Parties will oppose any effort to) separate, sever, reject, assume or assign (or attempt to, or support any other entity in
attempting to, separate, sever, reject, assume or assign) any one of such agreements without concurrently treating each and every of the other of such agreements together and in the same manner, so that all such agreements are concurrently treated
as one integrated agreement that is not separable or severable; provided, however, this Section 1.3 shall not limit the right of any Leasehold Lender to (x) make a Leasehold Foreclosure with MLSA
Termination as expressly provided in Section 13.1.2 hereof or (y) enter into a New Lease and terminate this Agreement as expressly provided in Article XVII of the Lease, in each case under clause
(x) or (y) subject to and in accordance with the terms of this Agreement and the Lease. Without limiting or vitiating any of the foregoing portion of this Section 1.3 (and, with respect to the Lease
Guaranty, as more particularly provided in Section 17.3.5.6 hereof), each of the Parties acknowledges and agrees that, notwithstanding any attempt (by any Party or otherwise) to separate, sever, reject, assume or assign the
obligations of any Party under any of the other Lease/MLSA Related Agreements, the obligations of all other Parties hereunder and thereunder (but, subject, in all events, to the provisions, terms and conditions of Article XIII,
Section 16.4 and Article XXI hereof) shall continue unabated and in full force and effect. The Parties further acknowledge and agree that, notwithstanding that each of the provisions of this Agreement, the Lease and
the other Lease/MLSA Related Agreements form part of a single integrated agreement, no Party shall have any obligation, or be deemed to have any obligation, to any other Party hereto (or otherwise be bound by any agreement to or with any other Party
hereto), whether by virtue of its inclusion as a Party hereto, by implication or otherwise, except solely as and to the extent expressly provided in this Agreement, in the Lease or in the other Lease/MLSA Related Agreements. 

ARTICLE II 

APPOINTMENT/TERM 
 2.1
Grant of Authority. 
 2.1.1 Engagement of Manager. On and subject to the terms and conditions of this Agreement, Tenant hereby
engages Manager, and Manager hereby agrees to be engaged, as Tenant’s agent and exclusive manager to Operate the Managed Facilities during the Term. The Parties acknowledge that the scope of Manager’s authority and duties to Operate the
Managed Facilities are limited to the authority and duties set forth in this Agreement. Tenant and Manager shall Operate each Managed Facility under one or more Brands; provided that (a) Tenant shall have the right, subject to the
receipt of (i) any required approval from any Governmental Authority and (ii) Manager’s consent (such consent not to be unreasonably withheld, conditioned or delayed), to change the Brand under which any Managed Facility is operated
to any other brand, with the costs of such rebranding borne by Tenant, (b) Tenant shall give Landlord prior notice of any such Brand change, (c) such Managed Facility shall continue to be 

  
 3 

 
operated under all other Managed Facilities IP (subject to any Brand change and subject to any other approvals or consents required by this Section 2.1.1), and
(d) any such Brand change shall be Non-Discriminatory, and shall not result in a change in the overall quality and level of service at any Managed Facility below that required pursuant to
Section 2.1.4. Manager shall reasonably assist Tenant, at Tenant’s expense, in connection with any such rebranding. If a Brand is replaced with another brand as permitted hereunder, the Parties shall reasonably
cooperate to make such changes to this Agreement as are necessary to give effect to such new brand. 
 2.1.2 Manager’s Standard of
Care. Manager shall (a) execute its duties under this Agreement in its reasonable business judgment (the “Manager’s Standard of Care”), and (b) act as the agent of Tenant in connection with the
performance of Manager’s duties as manager of the Managed Facilities under this Agreement. Tenant agrees that Manager’s duties as agent to Tenant are further subject to the terms and conditions of this Agreement (including
Section 2.3) and the Operating Limitations. Except for Manager’s indemnification obligations set forth in Article XII, Tenant agrees that, as between Tenant and Manager, Manager will have no
liability for monetary damages or monetary relief to Tenant for any violation of Manager’s Standard of Care or claims of breach of any fiduciary duties or duties as agent unless such violation or breach was due to an action or event giving rise
to a Manager Event of Default (disregarding any applicable notice and/or cure periods for such purpose). 
 2.1.3 Manager’s System
Policies. Tenant acknowledges that Manager and/or Manager’s Affiliates operate other casino, racetrack, hotel, dining, retail, entertainment and other operations and that Manager or its Affiliates may derive benefits in addition to the fees
and reimbursements paid hereunder, including in connection with marketing programs, the Total Rewards Program, Purchasing Programs, employment policies relating to the Managed Facilities Personnel or other programmatic or policy activities that may
be implemented from time to time at the discretion of CEC, Services Co or their Affiliates, and that extend through the majority of Gaming properties operated by Manager’s Affiliates (collectively, the “Manager’s
System Policies”). Tenant agrees that Manager will not be in breach of its duties as agent hereunder if, solely as a result of Manager following the Manager’s System Policies, certain aspects of the Manager’s System Policies have
the effect of providing greater benefit to properties owned or operated by Manager’s Affiliates collectively or third parties than to the Managed Facilities and the Joliet Managed Facility, taken as a whole, so long as the Manager’s System
Policies (i) are designed and executed in accordance with Manager’s Standard of Care, (ii) are Non-Discriminatory to the Managed Facilities and the Joliet Managed Facility, taken as a whole, in
both design and implementation and (iii) are not otherwise violative of or inconsistent with any provision of this Agreement; provided that any revisions to the Manager’s System Policies after the Commencement Date shall be
implemented in a Non-Discriminatory manner; and provided, further, that Manager shall give Tenant and Landlord prior written notice of such revisions and no such revisions shall result in a
change in the overall quality and/or the level of service at the Managed Facilities below that required in Section 2.1.4(a) and otherwise under this Agreement without Tenant’s and Landlord’s prior written consent thereto. The
foregoing shall not be deemed to excuse any breach by Manager of any of the express provisions of this Agreement. 

  
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 2.1.4 General Grant of Authority – Managed Facilities. On and subject to the terms of
this Agreement, and to the extent delegable by Tenant under the Lease, Tenant hereby grants to Manager (and Manager hereby accepts) the right, authority and responsibility during the Term, and instructs Manager during the Term, to take all such
actions for and on behalf of Tenant and the Managed Facilities that Manager reasonably deems necessary or advisable to Operate each of the Managed Facilities: (a) at a standard and level of service and quality (and otherwise on terms and in a
manner) for all of the Managed Facilities and the Joliet Managed Facility, taken as a whole, that in all events is not lower than the standard and level of service and quality for the Managed Facilities and the Joliet Managed Facility, taken as a
whole, as of the Commencement Date; (b) in accordance in all material respects with the policies and programs in effect as of the Commencement Date at each of the Managed Facilities, as applicable (with such revisions thereto from time to time
as Manager may implement in a Non-Discriminatory manner; provided that Manager shall give Tenant prior written notice of such revisions and no such revisions shall result in a material change in the
overall quality and/or level of service at any Managed Facility below that required in the preceding portion of this Section 2.1.4 and otherwise under this Agreement without Tenant’s and Landlord’s prior written
consent thereto in their respective sole and absolute discretion); (c) utilizing the Managed Facilities IP and the Proprietary Information and Systems in accordance in all material respects with the standards, policies and programs generally
applicable to the use and implementation of the Managed Facilities IP and the Proprietary Information and Systems and in accordance with the Omnibus Agreement; provided that the same are
Non-Discriminatory with respect to any and all Managed Facilities (the standards and objectives described in clauses (a) through (c) being referred to collectively as the
“Operating Standard”) and (d) in a Non-Discriminatory manner, subject in each case to the Operating Limitations. Notwithstanding anything to the contrary in this
Section 2.1, Section 5.2 or any other provision of this Agreement, for the avoidance of doubt, Manager is not a subtenant, assignee or designee of Tenant under the Lease, and is acting solely as
manager of the Leased Property (pursuant to this Agreement), subject to the terms and provisions of the Lease. Accordingly, except as otherwise expressly provided herein, any rights or obligations of Tenant under the Lease that are delegated to
Manager hereunder shall be limited to the Term of, and by the provisions, terms and conditions of, the Lease, and to the extent expressly set forth herein. Neither the exercise (directly or indirectly) by Manager of its rights and responsibilities
hereunder nor any of the provisions, terms and conditions of this Agreement or any of the other Lease/MLSA Related Agreements shall serve, or be construed, to (x) grant to Manager a possessory or other real property interest in the Leased
Property or any portion thereof or (y) limit or subrogate any or all of Tenant’s rights, obligations and responsibilities vis-à-vis Landlord under the
Lease. Without limiting the foregoing, notices under this Agreement sent by any other Party hereto to Manager (or by Manager to any other Party hereto) shall not be deemed received by (or sent by) Tenant, and vice versa, except to the extent Tenant
expressly authorizes Manager to do so on its behalf, and in the case of notices to or from Landlord, so advises Landlord of such authorization (it being understood, for the avoidance of doubt, without limitation of
Section 2.5 hereof, that notices or other 

  
 5 

 
communications sent by Landlord to Tenant pursuant to the Lease are not required to also be sent to Manager or (except to the extent provided in the last sentence of
Section 16.1 of the Lease) to Lease Guarantor, in order to be effective thereunder). 
 2.1.5 Specific Actions
Authorized by Tenant. Without limiting the generality of the authority granted to Manager in Section 2.1.4, but subject in each case to the provisions, terms and conditions of the Lease, the Annual Budget then in
effect, the Operating Limitations and the other provisions, terms and conditions set forth in this Agreement, including the Manager’s Standard of Care, the Operating Standard, Applicable Law and the provisions, terms and conditions of
Section 2.2, Tenant’s general grant of authority under Section 2.1.4 and this Section 2.1.5 shall specifically include the right, authority and responsibility of
Manager to take, on behalf of Tenant during the Term, the following actions in a Non-Discriminatory manner (either directly or, to the extent permitted under this Agreement, through a third party designated or
subcontracted by Manager, which may be an Affiliate of Manager), and in a manner consistent with the corporate policy applicable to the Other Managed Facilities and Other Managed Resorts: 

2.1.5.1 (a) hire, supervise, train and discharge all Managed Facilities Personnel; and (b) establish all salary, fringe benefits and
benefits plans for the Managed Facilities Personnel; 
 2.1.5.2 establish and administer Bank Accounts for the operation of the Managed
Facilities in accordance with Section 5.4; 
 2.1.5.3 prepare and deliver to Tenant for Tenant’s review and
approval operating plans and budgets in accordance with Section 5.1; 
 2.1.5.4 plan, account for and supervise
all repairs, capital replacements and improvements to the Managed Facilities or any portion thereof in accordance with Sections 5.2.1 and 5.2.2; 

2.1.5.5 establish and maintain for the Managed Facilities accounting, internal controls and reporting systems that are adequate to provide
Tenant, Manager and the Designated Accountant with sufficient information about the Managed Facilities to permit the preparation of the financial statements and reports contemplated in Article X and which are in compliance
in all material respects with all Applicable Laws; 
 2.1.5.6 negotiate, enter into and administer, in the name of Tenant, all subleases,
service contracts, licenses and other contracts and agreements Manager deems necessary or advisable for the Operation of the Managed Facilities, including contracts and licenses for: (a) health and life safety systems and security force and
related security measures; (b) maintenance of all electrical, mechanical, plumbing, HVAC, elevator, boiler and other building systems; (c) electricity, gas and telecommunications (including television and internet service);
(d) cleaning, laundry and dry cleaning services; (e) use of third party copyrighted materials (including games, filmed entertainment, music and videos); (f) entertainment; (g) Gaming machines and other Gaming equipment in the
event applicable Gaming Regulations permit or require Tenant to own or lease and maintain such Gaming equipment and non-Gaming equipment; and (h) ownership and operation of Gaming servers; 

  
 6 

 2.1.5.7 to the extent delegable, negotiate, administer and perform (or cause to be performed)
all obligations of Tenant, in the name of Tenant, under all subleases, licenses and concession agreements or other agreements for the right to use or occupy any public space at the Managed Facilities, including any store, office, parking facility or
lobby space thereunder; 
 2.1.5.8 supervise and purchase or lease or arrange for the purchase or lease of, all FF&E and Supplies that
are necessary or advisable for the Operation of the Managed Facilities in accordance with this Agreement; 
 2.1.5.9 be the primary
interface for all interactions by Tenant with the Gaming Authorities in connection with the Managed Facilities which shall include: (a) oversight of any amendments to any licenses or permits required to be held by Tenant by the applicable
Gaming Authorities under any applicable Gaming Regulations; (b) coordination of all lobbying efforts with respect to the activities conducted or proposed to be conducted by Tenant in connection with the Managed Facilities; and
(c) preparation and implementation of all actions required with respect to any filing by Tenant with the applicable Gaming Authorities relating to the Managed Facilities; provided that Manager shall (i) consult with and keep Tenant
apprised of (x) the status of any annual or other periodic license renewals for the operation of Gaming activities at the Managed Facilities with the Gaming Authorities and (y) the status of
non-routine matters before the Gaming Authorities regarding the Managed Facilities and (ii) promptly deliver to Tenant copies of any and all non-routine notices
received (or sent) by Manager from (or to) any Gaming Authorities; provided, further, that any filings or Gaming License relating to Tenant and Tenant’s Affiliates shall be the responsibility of Tenant; 

2.1.5.10 apply for and process applications and filings for all Approvals in a manner and within the time periods that are required for the
Managed Facilities to be operated on a continuous and uninterrupted basis (other than Gaming Licenses relating to Tenant and Tenant’s Affiliates). Manager shall act in a reasonably diligent manner to assure that all reports required by any
Governmental Authority pertaining to the Managed Facilities are properly filed on or prior to their due date. Tenant shall file all such other reports pertaining to Tenant. Manager shall prepare, maintain and provide to Tenant, at Tenant’s
request, a listing of all Approvals and reports required by any Governmental Authority and the term, duration or frequency of such Approvals and reports for the Managed Facilities to be operated in a continuous and uninterrupted basis; 

2.1.5.11 institute in its own name, or in the name of Tenant or the Managed Facilities, using Approved Counsel, all legal actions or
proceedings to, on behalf of Tenant: (a) collect charges, rent or other income derived from the Managed Facilities’ operations; (b) oust or dispossess guests, tenants or other Persons wrongfully in possession therefrom; or
(c) terminate any sublease, license or concession agreement for the breach thereof or default thereunder by the subtenant, licensee or concessionaire; 

  
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 2.1.5.12 using Approved Counsel, defend and control any and all legal actions or proceedings
arising from Claims against any Tenant Indemnified Party or any Manager Indemnified Party; provided that as soon as reasonably practical, Manager shall notify Tenant in writing of the commencement of any legal action or proceeding concerning
the Managed Facilities which could reasonably be anticipated to involve an expense, liability or damage to Tenant that either is not fully covered by insurance or, whether or not covered by insurance, is in excess of Two Hundred Fifty Thousand
Dollars ($250,000); provided, further, however, that, unless insurance policies dictate otherwise, that (a) Tenant may appoint counsel, defend and control any and all legal actions or proceedings pertaining to real property
related claims not involving the Operation of the Managed Facilities (such as zoning disputes, structural defects and title disputes); (b) in determining what portion, if any, of the cost of any legal actions or proceedings described in
clause (a) above is to be allocated to the Managed Facilities, such allocation shall be made in a Non-Discriminatory manner, and due consideration shall be given to the potential impact of such
legal action or proceeding on the Managed Facilities as compared with the potential impact on Manager or its Affiliates, the Other Managed Facilities or the Other Managed Resorts; and (c) if Tenant is also a named party in such legal actions or
proceedings, Tenant shall have the right to appoint separate counsel to prosecute and defend its interests, such appointment being at Tenant’s sole cost and expense (it being understood, without limiting Section 2.5,
that nothing in this Section 2.1.5.12 shall be deemed to limit Landlord’s rights in respect of any legal actions or proceedings affecting the real property or otherwise impacting any of Landlord’s interests); 

2.1.5.13 using Approved Counsel, take actions to challenge, protest, appeal or litigate to final decision in any appropriate court or forum
any Applicable Laws affecting the Managed Facilities or any alleged non-compliance with, or violation of, any Applicable Law (with the cost of such challenge, protest, appeal or litigation being treated in the
same manner as the cost of compliance with the Applicable Law in question would be treated under Section 5.1.5.4); 

2.1.5.14 in Consultation with Tenant, establish and implement all policies and procedures of credit to patrons of the Managed Facilities;

 2.1.5.15 collect and account for and remit to Governmental Authorities all applicable excise, sales, occupancy and use Taxes and all
other Taxes, assessments, duties, levies and charges imposed by any Governmental Authority and collectible by the Managed Facilities directly from patrons or guests (including those Taxes based on the sales price of any goods, services, or displays,
gross receipts or admission) or imposed by Applicable Laws on the Managed Facilities or the Operations thereof; 
 2.1.5.16 subject to
Applicable Law and in Consultation with Tenant, establish the types of Gaming activities to be offered at the Managed Facilities, 

  
 8 

 
including the matrix of owned, leased, progressive and electronic games and Gaming systems and, in Consultation with Tenant, establish all policies and procedures for Gaming at the Managed
Facilities; 
 2.1.5.17 supervise, direct and control all non-Gaming activities to be conducted at
the Managed Facilities, including all hospitality, retail, food and beverage and other related activities; 
 2.1.5.18 establish and
implement policies and procedures regarding, and assign Managed Facilities Personnel to resolve, disputes with patrons of the Managed Facilities; 

2.1.5.19 establish rates for all areas within the Managed Facilities, including all: (a) charges for food and beverage; (b) charges
for recreational and other guest amenities at the Managed Facilities; (c) subject to Applicable Law, policies with respect to discounted and complimentary food and beverage and other services at the Managed Facilities; (d) billing policies
(including entering into agreements with credit card organizations); (e) price and rate schedules; and (f) rents, fees and charges for all subleases, concessions or other rights to use or occupy any space in the Managed Facilities; 

2.1.5.20 supervise, direct and control the collection of income of any nature payable to Tenant from the Operation of the Managed Facilities
and issue receipts with respect to, and use commercially reasonable efforts to collect all charges, rent and other amounts due from guests, lessees and concessionaires of the Managed Facilities, and use those funds, as well as funds from other
sources as may be available to the Managed Facilities, in accordance with this Agreement; 
 2.1.5.21 in Consultation with Tenant,
determine the number of hours per week and the days per week that the Managed Facilities shall be open for business, taking into account Applicable Laws, the season of the year and other relevant and customary factors, including the requirements
under the Lease; 
 2.1.5.22 in Consultation with Tenant, select all entertainment and promotions events to be staged at the Managed
Facilities; 
 2.1.5.23 cooperate in all reasonable respects with Tenant, Landlord, Landlord’s Lender, any prospective purchaser or
prospective lender of Landlord or any of Landlord’s interest in the Leased Property and any prospective purchaser, lessee, Leasehold Lender or other prospective lender in connection with any proposed sale, lease or financing of or relating to
Tenant’s interest in the Leased Property and/or, to the extent Tenant is required under the Lease to so cooperate, relating to Landlord’s interest in the Leased Property, including answering questions of Tenant, Landlord, or such other
Persons, providing copies of budgets, financial statements and projections, preparing schedules and providing copies of subleases, concessions, Supplies, FF&E, employees and other similar matters, and taking other actions as are reasonably
requested and which would be customary to aid in such a sale or financing 

  
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transaction, in all cases as may reasonably be requested by Tenant, Landlord or such other Persons; provided that (a) if cooperation by Manager pursuant to this
Section 2.1.5.23 involves the disclosure of Manager Confidential Information, Manager shall only be required to release such Manager Confidential Information (i) to Landlord, to the extent Tenant is required to provide
such information pursuant to the Lease, and subject to the confidentiality provisions set forth in the Lease and (ii) to a Leasehold Lender or Landlord’s Lender or any prospective purchaser or prospective Landlord’s Lender, and only
to the extent that such Leasehold Lender, Landlord’s Lender, prospective purchaser or prospective Landlord’s Lender (as applicable) has a “need to know” such Manager Confidential Information in connection with any Leasehold
Financing, Landlord Financing, prospective Landlord Financing or prospective purchase, subject to customary protections against disclosure or misuse of such information and to compliance with Article VIII; and (b) Tenant shall reimburse
Manager for any Out-of-Pocket Expenses incurred by Manager in connection with such cooperation to the extent such expense is not otherwise paid or reimbursed under this
Agreement; 
 2.1.5.24 take all actions necessary (except to the extent not within Manager’s reasonable ability to do so) to comply:
(a) in all material respects with Applicable Laws or the requirements to maintain all Approvals (including Gaming Licenses) necessary for the operation of the Managed Facilities (provided that Manager shall not be a guarantor of the
Managed Facilities’ compliance with such Applicable Laws or such requirements); (b) with the requirements of the Lease (including compliance with the requirements of any Landlord Financing to the extent required by the Lease), the terms of
which Tenant shall provide to Manager (provided that Manager shall not be a guarantor of Tenant’s compliance with the Lease or requirements of any Landlord Financing); (c) with the requirements of any other lease that is
specifically identified by Tenant to Manager (provided that Manager shall not be a guarantor of Tenant’s compliance with any such lease); (d) with the requirements of any Leasehold Mortgage or other Leasehold Financing Documents
provided to Manager (provided that Manager shall not be a guarantor of Tenant’s compliance with any such Leasehold Financing Documents); and (e) with the terms of all insurance policies applicable to the Managed Facilities and
provided to Manager; 
 2.1.5.25 as directed by Tenant and at Tenant’s expense, take actions to discharge any lien, encumbrance or
charge against the Managed Facilities or any component of the Managed Facilities; 
 2.1.5.26 supervise and maintain books of account and
records relating to or reflecting the results of operation of the Managed Facilities; 
 2.1.5.27 keep the Managed Facilities and the
FF&E in good operating order, repair and condition, consistent with the Operating Standard; 
 2.1.5.28 take such actions as Manager
determines to be necessary or advisable to perform all duties and obligations required to be performed by Manager under this Agreement or as are customary and usual in the operation of the Managed Facilities, in each case subject to the Operating
Limitations, but, in all events, in accordance with the Operating Standard and the Manager’s Standard of Care; 

  
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 2.1.5.29 implement and comply with all relevant
Non-Discriminatory standards, policies and programs in effect relating to the Brands and/or the Total Rewards Program; 

2.1.5.30 with respect to the Guest Data, the Property Specific Guest Data, the Managed Facilities IP and the Total Rewards Program, establish
and comply with such contracts and privacy policies, and implement and comply with such data security policies and security controls, for databases and systems storing and/or utilizing such Guest Data, Property Specific Guest Data, Managed
Facilities IP and/or Total Rewards Program, as Manager reasonably determines are appropriate to protect such information, and all in a Non-Discriminatory manner; 

2.1.5.31 establish policies and procedures relating to problem Gaming, underage drinking, compliance with the Americans with Disabilities
Act, diversity and inclusion and a whistleblower hotline which shall, in each case, comply in all material respects with Applicable Laws; 

2.1.5.32 establish, in Consultation with Tenant, rates for the usage of all guest rooms and suites, including all (a) room rates for
individuals and groups; (b) charges for room service, food and beverage; (c) charges for recreational and other hotel guest amenities at the Managed Facilities; (d) policies with respect to Complimentaries; (e) billing policies
(including entering into agreements with credit card organizations); and (f) price and rate schedules; and 
 2.1.5.33 take any action
necessary or ancillary to the responsibilities and authorities set forth above in this Section 2.1.5, it being acknowledged and agreed that the foregoing is not intended to be an exhaustive list of Manager’s
responsibilities or authorities. 
 2.2 Limitations on Manager Authority. 

Notwithstanding the grant of authority given to Manager in Section 2.1, and without limiting any of the other
circumstances under which Landlord’s or Tenant’s approval is specifically required under this Agreement, subject in all events to the Lease, in the event that, at the applicable time, (a) Manager is not a wholly owned subsidiary of
CEC and (b) Tenant is not a Controlled Subsidiary of CEC, then at such time Manager shall not take any of the following actions without Tenant’s prior written approval: 

2.2.1 Settle any claim (a) regardless of the amount, admitting intentional misconduct or fraud or (b) arising out of the Operations
of the Managed Facilities which involves an amount in excess of $5,000,000 that is not fully covered (other than deductible amounts) by insurance or as to which the insurance denies coverage or “reserves rights” as to coverage;
provided that the dollar amount specified in this Section 2.2.1 shall be increased on January 1 of every third Operating Year by the percentage increase in the Index since January 1 of the first Operating
Year or the date of the prior increase, as applicable; 

  
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 2.2.2 Execute, amend, modify, provide a written waiver of rights under or terminate (a) the
Lease, (b) any ground lease with respect to the Leased Property, or (c) any contract, lease, equipment lease or other agreement (or a series of contracts, leases, equipment leases or other agreements relating to the same or similar
property, equipment, goods or services, as applicable, in each case with the same or a related party) that (i)(x) is for a term of greater than three (3) years and (y) requires payment by Manager or Tenant in excess of $5,000,000 in
the aggregate for the term or (ii) requires aggregate annual payments by Manager or Tenant in excess of $5,000,000, other than contracts, leases or other agreements which are specifically identified in the Annual Budget; provided that
the dollar amount specified in this Section 2.2.2 shall be increased on January 1 of every third Operating Year by the percentage increase in the Index since January 1 of the first Operating Year or the date of
the prior increase, as applicable; 
 2.2.3 Except as permitted by Section 5.5.3, borrow any money or incur
indebtedness or issue any guaranty in respect of borrowed money, or issue any indemnity or surety obligation outside of the ordinary course of business, in the name and on behalf of Tenant; 

2.2.4 Grant or create any lien or security interest on the Managed Facilities or any part thereof or interest therein; provided that
the foregoing shall not be deemed to restrict Manager from incurring trade payables, ordinary course advances for travel, entertainment or relocation or granting credit or refunds to patrons for goods and services incurred in the ordinary course of
business in the Operation of the Managed Facilities in accordance with this Agreement and Applicable Laws; 
 2.2.5 Sell or otherwise
dispose of the Managed Facilities or any part thereof or interest therein, including FF&E and Managed Facilities IP, except for the sale of inventory and the disposal of obsolete or worn out or damaged items, each in the ordinary course of
business or as contemplated in the Annual Budget or Capital Budget; 
 2.2.6 Commence any ROI Capital Improvements, except as directed by
Tenant or as included in the Capital Budget, or commence any Building Capital Improvements, except in each case if required by the Lease or if required by the Operating Standard as determined hereunder; 

2.2.7 Hire or replace individuals for the positions of Senior Executive Personnel; 

2.2.8 Submit, settle, adjust or otherwise resolve any casualty insurance claim related to a Managed Facility involving losses or casualties in
excess of $5,000,000; provided that the amount specified in this Section 2.2.8 shall be increased on January 1 of every third Operating Year by the percentage increase in the Index since January 1 of the
first Operating Year or the date of the prior increase, as applicable; 

  
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 2.2.9 Confess any judgment, make any assignment for the benefit of creditors, admit an inability
to pay debts as they become due in the ordinary course of business, file a voluntary bankruptcy or consent to any involuntary bankruptcy of any Party with respect to the Managed Facilities or Tenant; 

2.2.10 Initiate or settle any real or personal property tax appeals or claims involving property of Tenant, unless directed by Tenant in
writing; 
 2.2.11 Acquire any land or interest in land in the name of Tenant; 

2.2.12 Consent to any Condemnation or Taking relating to the Managed Facilities; 

2.2.13 File with any Governmental Authority any federal or state income tax return applicable to Tenant; or 

2.2.14 Execute, amend, modify, provide written waiver of rights under or terminate any collective bargaining, recognition, neutrality or other
material labor agreements solely involving the Managed Facilities Personnel; provided that with respect to the execution, amendment, modification, waiver of rights under or termination of any collective bargaining, recognition, neutrality or
other material labor agreements which involve both Managed Facilities Personnel and other employees providing services at properties that are owned by or managed by Manager’s Affiliates, the consent of Tenant shall be required, which consent
shall not be unreasonably withheld, conditioned or delayed. 
 2.3 Other Operations of Manager and Tenant. 

2.3.1 Without limiting Manager’s obligation under Section 2.1.2, Tenant acknowledges that: (a) Tenant has
selected Manager to Operate the Managed Facilities on behalf of Tenant in substantial part because of the other hotels, casinos, entertainment venues, dining establishments, spas and retail locations that are owned or operated by Manager and/or its
Affiliates; (b) Tenant has determined, on an overall basis, that the benefits of operation as part of the Total Rewards Program are substantial, notwithstanding that the properties operating under the Brands and Managed Facilities IP may not
all benefit equally from operation under the Brands and Managed Facilities IP; and (c) in certain respects all hotels, casinos, entertainment venues, dining establishments, spas and retail locations compete on a national, regional and local
basis with other hotels and casinos and facilities, and that conflicts and competition may, from time to time, arise between the Managed Facilities, on the one hand, and Other Managed Facilities or Other Managed Resorts, on the other hand;
provided, however, that nothing in this Section 2.3 shall, or shall be deemed to, limit, vitiate or supersede Manager’s obligations and requirements under this Agreement, and in all events, Manager agrees
to at all times manage the Operation of the Managed Facilities in a Non-Discriminatory manner, in accordance with the Operating Standard and subject to Manager’s Standard of Care. 

  
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 2.3.2 Tenant and Manager each acknowledges and agrees that (i) Manager and its Affiliates
own and operate many casino, hotel and other properties across the United States and internationally, some of which may be in competition with the Managed Facilities and (ii) neither Manager nor any Affiliate of Manager shall have any
obligation to promote the value and profitability of the Managed Facilities at the expense of such other properties; provided, however, that nothing in this Section 2.3.2 shall, or shall be deemed to, limit,
vitiate or supersede Manager’s obligations and requirements under this Agreement, and in all events, Manager shall at all times manage the Operation of the Managed Facilities in a Non-Discriminatory
manner, in accordance with the Operating Standard and subject to Manager’s Standard of Care. Without limiting the preceding proviso in any manner, subject to the Omnibus Agreement, the Services Co LLC Agreement (including, without limitation,
Section 7.8 thereof), Applicable Law and the Operating Limitations, Manager and its Affiliates shall be permitted, in a Non-Discriminatory manner, to: (a) utilize the Guest Data
during the Term for its own account and for use at Manager’s and its Affiliates’ other owned and/or operated properties, and (subject to Section 7.2.2.3) retain and use such Guest Data for such purposes after
expiration or termination of the Term; provided that the right of ownership and use of Property Specific Guest Data shall be governed by Section 7.2.2.2, (b) engage in commercially reasonable cross-marketing and
cross-promotional activities with Manager’s and its Affiliates’ other owned and/or operated properties, and (c) otherwise participate or engage in competing projects, programs and activities. This
Section 2.3.2 shall survive the expiration or termination of this Agreement. 
 2.3.3 Manager acknowledges and
agrees that Tenant and its Affiliates may acquire, develop, operate and manage properties and other facilities in other locations, some of which may be in competition with the Managed Facilities. Subject to Applicable Law, and without limitation of
any other rights Tenant has to use Property Specific Guest Data or other Guest Data, Tenant shall be permitted, in a Non-Discriminatory manner, to: (a) utilize the Property Specific Guest Data during the
Term for its own account and for use at its other properties, and (subject to Section 7.2.2.3) retain and use such Property Specific Guest Data after expiration or termination of the Term, (b) engage in cross-marketing
and cross-promotional activities with Tenant’s other properties in a manner that may be competitive to the Managed Facilities or Manager’s and its Affiliates’ other owned and/or operated facilities or operations, and
(c) otherwise participate or engage in competing projects, programs and activities. This Section 2.3.3 shall survive the expiration or termination of this Agreement. 

2.4 Term. 
 2.4.1
Term. The initial term (the “Initial Term”) of this Agreement (the Initial Term, together with any Renewal Term, the “Term”) shall commence on the date the Lease Initial Term under the Lease commences in
accordance with its terms and shall expire on the date the Lease Initial Term expires under the Lease, unless terminated earlier in accordance with the express terms of Section 16.2 of this Agreement. The Initial Term of
this Agreement shall automatically extend (any such extension, a “Renewal Term”) upon the commencement of any Lease Renewal Term under the Lease and shall expire on the date such Lease Renewal Term expires under the Lease, unless

  
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terminated earlier in accordance with the express terms of Section 16.2 of this Agreement. Any Renewal Term of this Agreement shall automatically further extend upon the
commencement of any additional Lease Renewal Term under the Lease and shall expire on the date such Lease Renewal Term expires under the Lease, unless terminated earlier in accordance with the express terms of Section 16.2
of this Agreement. Upon the commencement of any Renewal Term, unless otherwise agreed by each of Manager, Tenant, Landlord and Lease Guarantor expressly in writing, this Agreement, and all terms, covenants and conditions set forth herein, shall be
automatically extended to the expiration or earlier termination of such Renewal Term in accordance with the express terms of Section 16.2 of this Agreement. 

2.4.2 No Other Early Termination. This Agreement may only be terminated prior to the expiration of the Term as provided in
Article XVI. Notwithstanding any Applicable Law to the contrary, including principles of agency, fiduciary duties or operation of law, neither Tenant, Lease Guarantor, Landlord nor Manager shall be permitted to terminate
this Agreement except in accordance with the express provisions of Article XVI of this Agreement. 
 2.4.3
Effect of Termination. Notwithstanding the expiration or termination of this Agreement pursuant to this Section 2.4 or otherwise, the obligations and liabilities of Lease Guarantor in respect of the Lease Guaranty
shall not terminate or be released or reduced in any respect, except solely if and to the extent set forth in Section 17.3.5. 

2.5 Lease. Manager acknowledges (x) receipt of a copy of the Lease and (y) that Manager has reviewed and is familiar with all
of the provisions, terms and conditions thereof. The Parties agree that, to the extent any action or inaction of Manager authorized or permitted under this Agreement, including pursuant to Sections 2.1.5 and/or
Section 2.2 hereof, would, if taken (or not taken, as applicable) by or on behalf of Tenant, violate or otherwise be prohibited by the Lease in any respect, the Lease shall govern and control, and, without limitation
(subject to the final proviso of the penultimate sentence of this Section 2.5), Manager, in acting for or on behalf of Tenant, shall comply with the provisions, terms and conditions of the Lease applicable to such action or
limitation. Without limiting the preceding sentence, the Parties each acknowledge and agree that nothing contained in this Agreement is intended to, or shall be construed to, limit, vitiate or supersede any of the provisions, terms and conditions of
the Lease, and, as between Tenant and Landlord, in the event of any inconsistency between the obligations of Tenant thereunder, on the one hand, and the provisions, terms and conditions of this Agreement, on the other hand, the Lease shall govern
and control; provided that (subject to the final sentence of this Section 2.5) nothing in this Section 2.5 shall be construed to impose any liability on, or obligations of, Manager to
Landlord. Notwithstanding the foregoing or anything otherwise contained in this Agreement, Manager agrees that it shall not take any action or omit to take any action on behalf of itself or on behalf of Tenant that (or was intended to) frustrate,
vitiate or negate the provisions, terms and conditions of, or Tenant or Landlord’s performance of, the Lease. 

  
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 ARTICLE III 

FEES AND EXPENSES 
 3.1
Centralized Services Charges. Centralized Services Charges will be paid by Tenant in accordance with Section 4.1.1. 

3.2 Reimbursable Expenses. Tenant shall reimburse Manager for all Reimbursable Expenses incurred by Manager during the Term. The
Reimbursable Expenses (a) may be withdrawn by Manager from the Operating Account to pay such Reimbursable Expenses when such amounts become due or (b) shall be due monthly in arrears for the immediately preceding month within fifteen
(15) days of delivery to Tenant of the Monthly Reports for such month. If funds in the Bank Accounts are insufficient to pay such Reimbursable Expenses or if such withdrawal is otherwise restricted within the sixty (60) day period after
such Reimbursable Expenses are due, such Reimbursable Expenses shall accrue interest in accordance with Section 3.3 and shall be withdrawn by Manager from the Operating Account as soon as funds are sufficient therefor. Any
disputes regarding the Reimbursable Expenses shall be referred to the Expert for Expert Resolution pursuant to Article XVIII. 

3.3 Interest. If any amount due by Tenant to Manager or its Affiliates or designees or by Manager to Tenant, in each case under this
Agreement, is not paid within sixty (60) days after such payment is due, such amount shall bear interest from and after the respective due dates thereof until the date on which the amount is received in the bank account designated by the Party
to which such amount is owed at an annual rate of interest equal to the lesser of (a) the prevailing lending rate of such Party’s principal bank for working capital loans to such Party plus three percent (3%) and (b) the highest rate
permitted by Applicable Law. 
 3.4 Payment of Fees and Expenses. 

3.4.1 No Offset. All payments by Tenant or by Manager under this Agreement and all related agreements between Tenant, Manager or their
respective Affiliates shall be made pursuant to independent covenants, and neither Tenant nor Manager shall set off any claim for damages or money due from either such Party or any of its Affiliates to the other, except to the extent of any
outstanding and undisputed payments owed to Tenant by Manager under this Agreement. 
 3.4.2 Place and Means of Payment. All fees and
other amounts due to Manager or its Affiliates under this Agreement, including, without limitation Reimbursable Expenses, shall be paid to Manager in U.S. Dollars, in immediately available funds. Manager may pay such fees and other amounts owed to
Manager or its Affiliates consistent with this Agreement and the Annual Budget directly from the Operating Account. In addition, Manager may require that any such payments to Manager hereunder be effected through electronic debit/credit transfer of
funds programs specified by Manager from time to time, and Tenant agrees to execute such documents (including independent transfer authorizations), pay such fees and costs and do such things as Manager reasonably deems necessary to effect such
transfers of funds. 

  
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 3.5 Application of Payments. All payments by Tenant, or by Manager on behalf of Tenant,
pursuant to this Agreement and all related agreements between Tenant and Manager shall be applied in the manner provided in this Agreement. 

3.6 Sales and Use Taxes. Tenant shall pay to Manager an amount equal to any sales, use, commercial activity tax, gross receipts, value
added, excise or similar taxes assessed against Manager by any Governmental Authority that are calculated on Reimbursable Expenses required to be paid by Tenant under this Agreement, other than income, gross receipts, franchise or similar taxes
assessed against Manager on Manager’s income. Tenant and Manager agree to cooperate in good faith to minimize the taxes assessed against Manager, Tenant and the Managed Facilities, including taxes assessed against Tenant in connection with
paying Reimbursable Expenses directly to the applicable third-party vendor, so long as such actions are commercially reasonable and could not reasonably be expected to, and do not, result in an adverse impact in any material respect on Manager,
Tenant or the Managed Facilities. In the event of any dispute regarding appropriate actions to be taken to minimize taxes assessed against Manager, Tenant and the Managed Facilities, such dispute may be submitted by either Tenant or Manager for
Expert Resolution in accordance with Article XVIII. 
 ARTICLE IV 

CENTRALIZED SERVICES 
 4.1
Centralized Services. 
 4.1.1 Acknowledgement. The Parties acknowledge and agree that pursuant to the Omnibus Agreement and
the Services Co LLC Agreement, Tenant and its Affiliates are entitled to and receive certain centralized managerial, administrative, supervisory and support services and products that are also generally provided to the Other Managed Facilities and
Other Managed Resorts (collectively, the “Centralized Services”), including (without limitation): (a) services and products in the areas of marketing, risk management, information technology, legal, internal audit, accounting and
accounts payable; (b) the Proprietary Information and Systems; and (c) the Total Rewards Program. The Centralized Services are provided by Services Co or an Affiliate thereof or, for some Centralized Services, by third
parties (the “Third-Party Centralized Services”). The Parties acknowledge and agree that Tenant shall pay all amounts properly charged in a Non-Discriminatory manner to the Managed
Facilities for the Managed Facilities’ use of the Centralized Services (the “Centralized Services Charges”) in accordance with and pursuant to the terms of the Omnibus Agreement and the Services Co LLC Agreement, and shall
comply with all Non-Discriminatory terms and requirements of such Centralized Services applicable to Tenant and the Managed Facilities. In addition, Tenant shall pay all
Non-Discriminatory costs for the installation and maintenance of any equipment and Technology Systems at the Managed Facilities used by the Managed Facilities in connection with the Centralized
Services. Manager 

  
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shall not be responsible for the provision of any Centralized Services to the Managed Facilities or for the payment of any Centralized Services Charges or other expenses related to the provision
of such Centralized Services. 
 4.1.2 Right to Pay for Centralized Services. Manager shall have the right (but not the obligation)
to pay (directly or through an Affiliate) (a) a reasonable, Non-Discriminatory allocation of any amounts due to a third-party for any Third-Party Centralized Services provided by such third-party
to the Managed Facilities, (b) any Non-Discriminatory Centralized Services Charges on behalf of Tenant that Tenant fails to pay in accordance with the Omnibus Agreement and the Services Co LLC Agreement
and (c) other Non-Discriminatory expenses related to the provision of Centralized Services used by the Managed Facilities, in which case, notwithstanding anything to the contrary in this Agreement, such
amounts shall be deemed to be Reimbursable Expenses for all purposes under this Agreement. 
 ARTICLE V 

OPERATION OF THE MANAGED FACILITIES 

5.1 Annual Budget. 

5.1.1 Proposed Annual Budget. On or before December 15 of each Operating Year, Manager shall prepare and deliver to Tenant, for
its review and approval, a proposed operating plan and budget for the next Operating Year. All operating plans and budgets proposed by Manager shall be prepared in good faith in accordance with budgeting and planning procedures typically employed by
CEC and shall be developed and implemented in accordance with the Manager’s Standard of Care and the Operating Standard. Each operating plan and budget shall include monthly and annualized projections of each of the following items, as
applicable, for the Managed Facilities: 
 5.1.1.1 results of operations, together with the following supporting data: (a) total labor
costs, including both fixed and variable labor and (b) the Reimbursable Expenses; 
 5.1.1.2 a description of proposed Routine Capital
Improvements, Building Capital Improvements and ROI Capital Improvements to be made during such Operating Year, including capitalized lease expenses, an itemization of the costs of such capital improvements (including a contingency line item) and
proposed monthly funding for such costs, and project schedules to commence and complete such capital improvements (the “Capital Budget”); 

5.1.1.3 a statement of cash flow, including a schedule of any anticipated cash shortfalls or requirements for funding by Tenant; 

5.1.1.4 a schedule of rent required under the Lease; 

5.1.1.5 a schedule of debt service payments and reserves required under any Leasehold Financing Documents; 

  
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 5.1.1.6 a marketing plan and budget for the activities to be undertaken by Manager pursuant to
Article IX, including promotional activities and Promotional Allowances for the Managed Facilities; 
 5.1.1.7 a
schedule of projected Centralized Services Charges provided by Tenant to Manager pursuant to the budgeting procedures contemplated by the Services Co LLC Agreement and the Omnibus Agreement; and 

5.1.1.8 any other information or projections reasonably requested by Tenant to be included in the operating plan and budget from time to
time. 
 5.1.2 Approval of Annual Budget. Tenant shall review the proposed operating plan and budget and shall provide Manager with
its written approval of or any objections to such proposed operating plan and budget in writing, in reasonable detail, within forty-five (45) days after receipt of the proposed operating plan and budget from Manager; provided that any
line items in the proposed operating plan and budget shall not be adopted and implemented by Manager until Tenant shall have approved or be deemed to have approved such operating plan and budget and/or any items therein in dispute shall have been
determined pursuant to Section 5.1.3. Tenant shall be deemed to have approved that portion of any proposed operating plan and budget to which Tenant has not approved in writing or objected to in writing within such
forty-five (45) day period. If Tenant objects to any portion of the proposed operating plan and budget to which it is entitled to object within such forty-five (45) day period, Tenant and Manager shall meet within twenty (20) days
after Manager’s receipt of Tenant’s objections and discuss such objections, and then Manager shall submit written revisions to the proposed operating plan and budget after such discussion. Tenant and Manager shall use good faith efforts to
reach an agreement on the operating plan and budget prior to January 1 of each Operating Year. The proposed operating plan and budget, as modified to reflect the revisions, if any, agreed to by Tenant and Manager pursuant to
Section 5.1.3, shall become the “Annual Budget” for the next Operating Year. Tenant shall act reasonably and exercise prudent business judgment in approving of, or objecting to, all or any portion of any
proposed operating plan and budget. 
 5.1.3 Resolution of Disputes for Annual Budget. If Tenant and Manager, despite their good
faith efforts, are unable to reach final agreement on the proposed operating plan prior to January 1 of each Operating Year, or otherwise have a dispute regarding the Annual Budget as contemplated by this Section 5.1,
those portions of such proposed operating plan that are not in dispute shall become effective on January 1 of such Operating Year and, pending Tenant’s and Manager’s resolution of such dispute, the prior year’s Annual Budget
shall govern the items in dispute, except that the budgeted expenses provided for such item(s) in the prior year’s Annual Budget (or, if earlier, the last Annual Budget in which the budgeted expenses for such disputed item(s) were approved)
shall be increased by the percentage increase in the Index from January 1 of the prior Operating Year (or, if applicable, each additional Operating Year between the prior Operating Year and the Operating Year in which there became effective the
last Annual Budget in which the budgeted expenses for such disputed item(s) were approved). Upon the resolution of any such dispute by agreement of Tenant and 

  
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Manager, such resolution shall control as to such item(s). For purposes of clarity, all disputes regarding the Annual Budget shall be resolved (if at all) between Tenant and Manager directly and
no such dispute shall subject to Expert Resolution through the procedures described in Article XVIII unless Tenant and Manager (each acting in its sole discretion) agree in writing at the time any such dispute arises to
mutually submit the subject dispute to Expert Resolution under Article XVIII. 
 5.1.4 Operation in Accordance
with Annual Budget. Manager shall use its commercially reasonable efforts to operate the Managed Facilities in accordance with the Annual Budget for the applicable Operating Year (subject, in the case of disputed items, to the provisions of
Section 5.1.3). Nevertheless, Tenant and Manager acknowledge that preparation of the Annual Budgets is inherently inexact and that Manager may vary from any Annual Budget (a) to the extent Manager reasonably determines
that such variance is required by any Leasehold Financing Document and/or the Lease, (b) in connection with the matters set forth in Section 5.1.5, or (c) by reallocating up to ten percent (10%) of any line item
in such Annual Budget to any other line item without Tenant’s prior approval. Other than as set forth in the preceding sentence, Manager shall not incur costs or expenses or make expenditures that would cause the total expenditures for the
Operation of the Managed Facilities to exceed the aggregate amount of expenditures provided in the Annual Budget by more than five percent (5%) without Tenant’s prior approval. Tenant acknowledges that the actual financial performance of the
Managed Facilities during any Operating Year will likely vary from the projections contained in the Annual Budget for such Operating Year, and Manager shall not be deemed to have made any guarantee, warranty or representation whatsoever in
connection with the Annual Budget or consistency of actual results with the operating plan. 
 5.1.5 Exceptions to Annual Budget.
Notwithstanding Section 5.1.4, Tenant acknowledges and agrees as follows: 
 5.1.5.1 The amount of certain
expenses provided for in the Annual Budget for any Operating Year will vary based on the occupancy, use and demand for goods and services provided at the Managed Facilities and, accordingly, to the extent that occupancy, use and demand for such
goods and services for any Operating Year exceeds the occupancy, use and demand projected in the Annual Budget for such Operating Year, such Annual Budget shall be deemed to include corresponding increases in such variable expenses; provided
that the percentage increase in the variable expense over budget shall not exceed the percentage increase in corresponding revenue over projections. To the extent that occupancy, use and demand for goods and services provided at the Managed
Facilities for any Operating Year is less than the occupancy, use and demand projected in the Annual Budget for such Operating Year, Manager will make commercially reasonable adjustments to the Operation of the Managed Facilities in an effort to
reduce such variable expenses; 
 5.1.5.2 The amount of certain expenses provided for in the Annual Budget for any Operating Year are not
within the ability of Manager to control, including real estate and personal property taxes, applicable Gaming taxes, insurance 

  
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premiums, utility rates, license and permit fees and certain charges provided for in contracts and leases entered into pursuant to this Agreement, and accordingly, Manager shall have the right to
pay from the Operating Account the actual amount of such uncontrollable expenses without reference to the amounts provided for with respect thereto in the Annual Budget for such Operating Year (provided that Manager shall promptly provide
Tenant with a reasonably detailed written explanation of all variances in excess of five percent (5%) between the budgeted and actual amounts of any such uncontrollable expenses); 

5.1.5.3 If any expenditures are required on an emergency basis to (a) preserve or repair the Managed Facilities or other property or
(b) avoid potential injury to persons or material damage to the Managed Facilities or other property, Manager shall have the right to make such expenditures, whether or not provided for, or within the amounts provided for, in the Annual Budget
for the Operating Year in question, to the extent reasonably required to avoid or mitigate such injury or material damage; and 
 5.1.5.4
If any expenditures are required to comply with, or cure or prevent any violation of, any Applicable Law or the terms of the Lease, Manager shall, following written notice to Tenant (except in the case of emergency, in which case the provisions of
Section 5.1.5.3 shall govern) have the right to make such expenditures, whether or not provided for or within the amounts provided for in the Annual Budget for the Operating Year in question, as may be necessary to comply
with, or cure or prevent the violation of, such Applicable Law or the terms of the Lease. 
 5.1.6 Modification to Annual Budget.
Manager shall have the right from time to time during each Operating Year to propose modifications to the Annual Budget then in effect based on actual operations during the elapsed portion of the applicable Operating Year and Manager’s
reasonable business judgment as to what will transpire during the remainder of such Operating Year. Modifications to such Annual Budget, if any, shall be subject to Tenant’s prior written approval; provided that in no event shall Tenant
have the right to withhold its approval to any material modifications on account of changes to costs of insurance premiums, operating supplies and equipment, charges provided for in contracts and leases entered into pursuant to this Agreement or
other amounts that are not within Manager’s or its Affiliates’ ability to control (e.g., taxes, assessments, utilities, license or permit fees, inspection fees and any impositions imposed by any Governmental Authority). 

5.1.7 Compliance with Lease. Without limiting Section 2.5 in any manner, the Parties agree that
(i) nothing in this Section 5.1 is intended, nor shall it be construed, to limit, vitiate or supersede any of the provisions, terms and conditions of the Lease and (ii) subject to the foregoing clause
(i) and compliance with any requirements of the Lease, so long as Tenant is a Controlled Subsidiary of CEC and Manager is a wholly owned subsidiary of CEC, Tenant and Manager may modify the requirements of this
Section 5.1 with respect to the subject matter thereof from time to time in their discretion; provided that any such modifications shall be of no force or effect unless they (x) are Non-Discriminatory and (y) do not conflict with any other provisions of this Agreement 

  
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or any other Lease/MLSA Related Agreement; and provided, further, that if any such modification would have a material adverse effect on any Party, then such modification shall
require the prior written consent of such Party in its sole discretion. 
 5.2 Maintenance and Repair; Capital Improvements. 

5.2.1 Required Maintenance and Repair and Capital Improvements. Except as otherwise provided in this
Section 5.2, Manager, at Tenant’s expense, shall perform or cause to be performed all ordinary maintenance and repairs and all such Routine Capital Improvements and Building Capital Improvements: (a) as are
necessary or advisable to keep the Managed Facilities in good working order and condition and in compliance with the Operating Standard (subject to the Annual Budget and Section 5.1.4) and Operating Limitations; and
(b) without limiting the preceding clause (a), as Manager reasonably determines are necessary or advisable to comply with, and cure or prevent the violation of, any Applicable Laws or the provisions, terms and conditions of the Lease.
Manager, at Tenant’s expense, shall perform or cause to be performed all such Routine Capital Improvements and Building Capital Improvements as are provided in the Annual Budget or otherwise approved in writing by Tenant. 

5.2.2 Discretionary Capital Improvements. Manager, at Tenant’s expense, shall cause to be performed all ROI Capital Improvements
approved by Tenant (in the Annual Budget or otherwise in writing in advance), and shall supervise such work and ensure that the performance of such work is undertaken in a manner reasonably calculated to avoid or minimize interference with the
Operation of the Managed Facilities. Except as provided in the applicable Annual Budget or proposed by Manager and approved by Tenant, Tenant shall notify Manager of any ROI Capital Improvements proposed to be undertaken by Tenant and Manager may,
within thirty (30) days after receipt of such notice, object to the undertaking of such ROI Capital Improvements based on Manager’s reasonable determination that such ROI Capital Improvements will not be consistent with the Operating
Standard (including, for the avoidance of doubt, that such ROI Capital Improvements would constitute a breach of the terms of the Lease) or will unreasonably interfere with the Operation of the Managed Facilities, including that such ROI Capital
Improvements would unreasonably interfere with the Managed Facilities’ operating performance and the ability of Manager to Operate the Managed Facilities in accordance with the Operating Standard (including the requirements of the Lease).
Within fifteen (15) days after receipt of any notice from Manager alleging an objection with respect to any ROI Capital Improvement proposed by Tenant, Tenant shall respond in detail to such allegation and, if the matter is not resolved by
Tenant and Manager within thirty (30) days after Tenant’s response, the determination of whether such capital improvement does not, or when constructed will not, be consistent with the Operating Standard (including the requirements of the
Lease) or will unreasonably interfere with the Operation of the Managed Facilities shall be submitted to the Expert for Expert Resolution in accordance with Article XVIII. If the Expert determines that such capital
improvement does not, or when constructed will not, comply with the Operating Standard (including the requirements of the Lease) or will unreasonably interfere with the Operation of the Managed Facilities, Tenant shall promptly take such actions as
the Expert shall require to bring such capital improvement into compliance with the 

  
 22 

 
Operating Standard (including the requirements of the Lease) or to cause such capital improvement to not unreasonably interfere with the Operation of the Managed Facilities. For the avoidance of
doubt and without limiting Section 2.5 in any manner, the Parties acknowledge that any determination made by an Expert under this Agreement shall be subject to Section 18.2.3 and, without
limitation, to the extent Landlord believes any non-compliance with the Lease exists, the provisions, terms and conditions of the Lease shall govern with respect thereto. 

5.2.3 Remediation of Design or Construction Defect. If the design or construction of the Managed Facilities is defective, and the
defective condition presents a risk of injury to persons or damage to the Managed Facilities or other property, or results in non-compliance with Applicable Law or the terms of the Lease, then Manager shall
have the authority (subject to the terms of the Lease) to, at Tenant’s expense, perform all work necessary to remedy such design or construction defect in the Managed Facilities. Tenant acknowledges that such work shall be performed at
Tenant’s expense and that Manager shall not use funds in the Operating Account in remedying such defects. 
 5.2.4 Compliance with
Lease. Without limiting Section 2.5 in any manner, the Parties agree that nothing in this Section 5.2 is intended, nor shall it be construed, to grant to Manager more authority over
maintenance, repair and improvements of the Leased Property or any portion thereof than Tenant has under the Lease, or to require Manager to take actions in respect of the Leased Property or any portion thereof beyond Tenant’s authority with
respect thereto, it being understood that nothing contained in this Agreement is intended to, or shall be construed to, limit, vitiate or supersede any of the provisions, terms and conditions of the Lease. 

5.3 Personnel. 
 5.3.1
Manager Control. Manager shall manage and have sole and exclusive control of all aspects of the Managed Facilities’ human resources functions as set forth in this Section 5.3. 

5.3.2 Employment of Managed Facilities Personnel. All Managed Facilities Personnel shall be employees of Tenant or a subsidiary of
Tenant, and Tenant shall bear all Managed Facilities Personnel Costs. Managed Facilities Personnel Costs shall be Operating Expenses. Tenant shall have no right to supervise, discharge or direct any Managed Facilities Personnel, except as otherwise
set forth herein, and covenants and agrees not to attempt to so supervise, direct or discharge. 
 5.3.3 Senior Executive Personnel.
Subject to Tenant’s approval rights in Section 2.2.7, Manager shall, on Tenant’s behalf, recruit, screen, appoint, hire, pay (from the Operating Account), train, supervise, instruct and direct the Senior Executive
Personnel, and they, or other Managed Facilities Personnel to whom they may delegate such authority, shall, on Tenant’s behalf: (a) recruit, screen, appoint, hire, train, supervise, instruct and direct all other Managed Facilities
Personnel necessary or advisable for the Operation of the Managed Facilities; and (b) discipline, transfer, relocate, replace, terminate and discharge any Managed Facilities Personnel. 

  
 23 

 5.3.4 Terms of Employment. Subject to Tenant’s approval rights under
Section 2.2.7, all terms and conditions of employment, personnel policies and practices relating to the Managed Facilities Personnel shall be established, maintained and implemented by Manager in compliance with all
Applicable Laws, on Tenant’s behalf, including, but not limited to, Applicable Laws relating to the terms and conditions of employment, recruiting, screening, appointment, hiring, compensation, bonuses, severance, pension plans and other
employee benefits, training, supervision, instruction, direction, discipline, transfer, relocation, replacement, termination and discharge of Managed Facilities Personnel. Manager shall process the payroll and benefits for Managed Facilities
Personnel. 
 5.3.5 Corporate Personnel. All Corporate Personnel who travel to the Managed Facilities to perform technical
assistance, participate in special projects or provide other services shall be permitted to reasonably utilize the services provided at the Managed Facilities (including food and beverage consumption), without charge to Manager or such Corporate
Personnel, in accordance with the Manager’s System Policies. 
 5.4 Bank Accounts. 

5.4.1 Administration of Bank Accounts. Manager shall establish and administer the bank accounts listed in this
Section 5.4 (the “Bank Accounts”) on Tenant’s behalf at a bank or banks selected by Tenant and reasonably approved by Manager. All Bank Accounts shall (a) be established by Manager (or a designee
of Manager), as agent for Tenant, in the name of CEOC (or a subsidiary of CEOC), (b) be owned by CEOC (or such subsidiary of CEOC) and (c) use the taxpayer identification number of CEOC (or such subsidiary of CEOC). The Bank Accounts shall
be interest-bearing accounts if such accounts are reasonably available. The Bank Accounts may include: 
 5.4.1.1 one or more accounts for
the purposes of depositing all funds received in the Operation of the Managed Facilities and paying all Operating Expenses (collectively, the “Operating Account”); 

5.4.1.2 one or more accounts into which amounts sufficient to cover all Managed Facilities Personnel Costs shall be deposited from time to
time by Manager (by transfer of funds from the Operating Account); 
 5.4.1.3 a separate account for the purpose of depositing funds
sufficient to pay all amounts due to Manager under this Agreement (by transfer of funds from the Operating Account) (the “Management Account”); and 

5.4.1.4 such other accounts as Manager with Tenant’s prior approval (or Tenant with Manager’s approval (not to be unreasonably
withheld)) deems necessary or desirable. 
 Notwithstanding anything to the contrary herein, the Operating Account may hold other funds, including CEOC
funds attributable to the Managed Facilities, Other Managed 

  
 24 

 
Facilities and Other Managed Resorts; provided that Manager shall promptly reimburse Tenant for any direct loss to Tenant resulting from Manager’s commingling of Tenant’s funds
in the Operating Account with funds of any Person that is not a Tenant or any use of Tenant’s funds in the Operating Account in violation of this Agreement resulting from such comingling, other than at the direction or with the consent of
Tenant.
 All funds in the Bank Accounts shall be held in express trust for the benefit of CEOC and its subsidiaries and the funds belonging to SPE Tenant
or generated by the Managed Facilities and held by SPE Tenant or any Tenant shall be disbursed on the terms and subject to the conditions of this Agreement, and Manager shall not commingle the funds associated with the Managed Facilities with those
of any other Person or property (other than CEOC and subsidiaries of CEOC and their respective property). All funds of Tenant generated with respect to the Managed Facilities shall be held, at all times, in the Bank Accounts until such funds are
paid in accordance with this Agreement and Manager shall not hold any such funds in any other manner. Notwithstanding anything herein to the contrary Manager shall comply with the escrow and reserve and other requirements imposed by any
Landlord’s Lender in connection with any Landlord Financing and/or under any Landlord Financing Documents, to the extent compliance therewith by Tenant is required under the Lease; provided that Manager shall not be a guarantor of
Tenant’s compliance with the Lease or of any Landlord Financing. 
 5.4.2 Authorized Signatories; Bank Account Information. 

5.4.2.1 Manager’s designees may be authorized to draw funds from the Bank Accounts and make deposits into the Bank Accounts during the
Term; provided, however, that if any Manager Event of Default has occurred, or if Manager is in breach of Section 5.4.4, (i) Tenant shall be authorized to draw, disburse and retain funds as Manager would
be so entitled under Section 5.4.4 (and such funds may only be used in accordance with Section 5.4.4) and (ii) if any Manager Event of Default has occurred, Manager shall cease having any
further rights to draw on such Bank Accounts and a signature (electronic or otherwise) from Tenant shall be required for Manager to draw funds from the Bank Accounts. Manager shall establish reasonable controls to ensure accurate reporting of all
transactions involving the Bank Accounts and as Manager, consistent with commercially reasonable business procedures and practices which are consistent with the size and nature of the operations at the Managed Facilities, reasonably deems necessary
or advisable. For the avoidance of doubt, Tenant shall have the right to open, own and operate any other bank accounts (excluding the Bank Accounts) and with respect to such other bank accounts, Tenant shall have full authority to deposit, draw,
disburse and retain funds and otherwise operate such bank accounts in its discretion without regard to this Section 5.4. 

5.4.2.2 Manager shall (a) provide Tenant copies of bank statements with respect to the Bank Accounts, and (b) provide Tenant
(1) weekly cash balance summaries with respect to each Bank Account and (2) such other information regarding the Bank Accounts as reasonably requested by Tenant from time to time. 

  
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 5.4.3 Permitted Investments; Liability for Loss in Bank Accounts. Manager shall not invest
funds belonging to SPE Tenant or generated by the Managed Facilities and held by SPE Tenant or any Tenant in the Bank Accounts, except as may be permitted under the Leasehold Financing Documents and as approved by Tenant. Tenant shall bear all
losses suffered in any investment of funds into any such Bank Account, and Manager shall have no liability or responsibility for such losses, except to the extent due to a Manager Event of Default. 

5.4.4 Disbursement of Funds to Tenant. All revenues from the operation of the Managed Facilities shall be deposited promptly by Manager
in the Operating Account. Manager may, from time to time, draw or transfer funds from the Operating Account to pay Operating Expenses that are then due and payable or to reimburse CEC or any of its subsidiaries for Operating Expenses that have been
paid by them. On or about the twenty fifth (25th) day of each calendar month (unless Tenant and Manager agree on different timing for such monthly disbursements), Manager shall disburse to
Tenant, or as directed by Tenant, any funds belonging to SPE Tenant or generated by the Managed Facilities and held by SPE Tenant or any Tenant remaining in the Operating Account at the end of the immediately preceding month after payment,
contribution or retention, as applicable, of the following, without duplication: (a) all amounts due and payable under the Lease as of the date of disbursement; (b) all Operating Expenses then due but which have not yet been paid as of the
date of disbursement; (c) the amount of debt service accruals and payments due to Leasehold Lenders as of the date of disbursement (as provided in the most recently updated Monthly Debt Service Schedule); and (d) retention by Manager of an
amount sufficient to cover (i) a reasonable reserve (as approved by Tenant in the Annual Budget or otherwise in writing in advance), (ii) any other amounts necessary to cure or prevent any violation of any Applicable Law or the Lease in
accordance with this Agreement, and (iii) such other amounts as may be agreed to by Manager and Tenant from time to time. In the event Tenant disputes any decision by Manager to reserve and not disburse to Tenant funds pursuant to this
Section 5.4.4, such dispute may be submitted by either Tenant or Manager for Expert Resolution in accordance with Article XVIII. Notwithstanding anything contained in this
Section 5.4.4 or in any other part of this Agreement to the contrary and, for the avoidance of doubt, nothing contained herein shall be construed as subordinating or deferring any obligations of Tenant under the Lease to
any Operating Expenses or any other claims. 
 5.4.5 Transfers Between Bank Accounts. Subject to compliance with any cash management,
escrow, reserve and other requirements imposed by any Landlord’s Lender in connection with any Landlord Financing and/or any Landlord Financing Documents (to the extent compliance therewith by Tenant is required under the Lease), Manager has
the authority to transfer funds from and between the Bank Accounts in order to pay (or reimburse CEC or its subsidiaries for) Operating Expenses, to pay debt service with respect to the Managed Facilities, to invest funds for the benefit of the
Managed Facilities (to the extent permitted under this Agreement), to pay the rent and other amounts required under the Lease and for any other purpose consistent with the Annual Budget and good business practices; provided that, if any of
the circumstances contemplated by the proviso in the first sentence of Section 5.4.2 has occurred and is 

  
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continuing, Manager shall not transfer funds allocable to the Managed Facilities from the Management Account without the co-signature (electronic or
otherwise) of a representative of Tenant (and Tenant shall not unreasonably withhold, condition or delay such co-signature). 

5.4.6 Monthly Debt Service Schedule. Whenever Tenant incurs indebtedness with respect to the Managed Facilities, Tenant shall provide Manager
with a schedule of all principal and interest payments due with respect thereto and the method for calculating interest with respect to such indebtedness (as the same may be updated, the “Monthly Debt Service Schedule”). 

5.5 Funds for Operation of the Managed Facilities. 

5.5.1 Initial Working Capital. As of the Commencement Date, Tenant shall ensure that the available funds in the Operating Account (which may
be attributable to the Managed Facilities, Other Managed Facilities and/or other resorts that are owned by CEOC or its subsidiaries) include at least Two Hundred Ninety-One Million, Five Hundred Twenty-Five
Thousand Dollars ($291,525,000) of cash. 
 5.5.2 Additional Funds. If Manager reasonably determines at any time during the Term that:
(a) the available funds belonging to SPE Tenant or generated by the Managed Facilities and held by SPE Tenant or any Tenant in the Operating Account are insufficient to allow for the uninterrupted and efficient Operation of the Managed
Facilities in accordance with this Agreement (including the Operating Standard) and the Lease, subject to the Operating Limitations, based on a ninety (90) day forward looking reference period as of such time; (b) the available funds
belonging to SPE Tenant or generated by the Managed Facilities and held by SPE Tenant or any Tenant in the Operating Account are insufficient for the timely payment of amounts in any given month to be paid under
Section 5.4.4; or (c) the available funds belonging to SPE Tenant or generated by the Managed Facilities and held by SPE Tenant or any Tenant in the Operating Account are insufficient for (i) Building Capital
Improvements then contemplated in the Annual Budget or the Lease or otherwise approved by Tenant or (ii) ROI Capital Improvements then contemplated in the Annual Budget or the Lease or otherwise approved by Tenant, Manager shall notify Tenant
of the existence and amount of the shortfall (a “Funds Request”) and shall provide a reasonably detailed explanation (including any relevant documentation related thereto) of the cause of such shortfall. Tenant shall be obligated to
deposit into the Operating Account the amount requested by Manager in the Funds Request within fifteen (15) days after delivery of the Funds Request. 

5.5.3 Failure to Provide Funds. If Tenant fails to deposit all or any portion of any amount requested in a Funds Request, Manager shall have
the right (but not the obligation) to use or pledge Manager’s credit in paying, on Tenant’s behalf, (a) ordinary and customary Operating Expenses to the extent incurred in accordance with this Agreement, (b) Building Capital
Improvements and Routine Capital Improvements to the extent incurred in accordance with this Agreement and the Lease and (c) ROI Capital Improvements then contemplated in the Annual Budget or the Lease or otherwise

  
 27 

 
approved by Tenant, in which case Tenant shall pay for such goods or services when such payment is due. In addition, if Tenant fails to pay for such goods or services when such payment is due,
then Manager shall have the right (but not the obligation) to pay for such goods or services, in which case Tenant shall reimburse Manager immediately upon demand by Manager (and Manager shall be entitled to reimburse itself from any available funds
from the Operation of the Managed Facilities, including the Operating Account) for all such amounts advanced by Manager, together with interest thereon in accordance with Section 3.4. For the avoidance of doubt, neither
Manager nor Tenant shall have the right or power to pledge Landlord’s credit or property under any circumstances. 
 5.6
Purchasing. Manager and its Affiliates shall make or cause to be made available to the Managed Facilities, on a Non-Discriminatory basis, licensing or purchasing programs available to each of the Other
Managed Facilities and each of the Other Managed Resorts (whether on a national, regional, mandatory, optional or other basis) (each, a “Purchasing Program”). Manager may elect, in its discretion, but subject to the terms of this
Section 5.6, the Lease, Applicable Law and the Annual Budget, to license any games or purchase or lease any FF&E and Supplies for the Operation of the Managed Facilities from a Purchasing Program maintained by or for
the benefit of Manager and/or its Affiliates; provided that (i) Manager shall ensure the prices and terms of the games, FF&E and Supplies to be licensed or purchased for the benefit of the Managed Facilities under such Purchasing
Program (including with such modifications as provided below) are reasonably comparable to the prices and terms which would be charged by reputable and qualified unrelated third parties on an arm’s length basis for similar games, FF&E and
Supplies sold, leased or licensed to similar companies in the Gaming and hospitality industry, and may be grouped in reasonable categories rather than being compared item by item, and (ii) if multiple Purchasing Programs are available, Manager
shall elect the applicable Purchasing Program it utilizes on a Non-Discriminatory basis. Manager and its Affiliates shall pass through any discounts, rebates or similar incentives received in connection with a
Purchasing Program to the Managed Facilities on a Non-Discriminatory basis. Tenant acknowledges and agrees that Manager and its Affiliates shall have the right; provided that the same is implemented on
a Non-Discriminatory basis, to (a) modify the fees, costs or terms of any such Purchasing Program, including adding games, FF&E and Supplies to, and, subject to Applicable Law, deleting games,
FF&E and Supplies from, such Purchasing Program; (b) terminate all or any portion of any such Purchasing Program, from time to time, upon sixty (60) days’ notice to Tenant; (c) subject to the obligation to pass through any
such amounts as set forth in the immediately preceding sentence, receive commercially reasonable payments, fees, commissions or reimbursements from suppliers and third parties in respect of such purchases, leases or licenses; and (d) own or
have investments in such suppliers. 
 5.7 Managed Facilities Parking. Subject to the terms of the Lease, Tenant shall use
commercially reasonable efforts to cause to be available as part of the Managed Facilities (whether by expanding the Leased Property under the Lease (with Landlord’s approval to the extent required under the Lease), or otherwise obtaining use
of other areas) parking sufficient for the Operation of the Managed Facilities (it being acknowledged and agreed by Manager and Tenant that, as of the Commencement Date, 

  
 28 

 
the parking facilities available to the Managed Facilities are sufficient for the Operation of the Managed Facilities). If parking for the Managed Facilities is not Operated as a part of the
Managed Facilities, Manager shall have the right to approve the arrangements for such operation, including the identity of any third-party parking manager. 

5.8 Use of Affiliates by Manager. In performing its obligations under this Agreement, Manager from time to time may use the services of
one (1) or more of its Affiliates as permitted under this Agreement, so long as neither Tenant nor Landlord is prejudiced thereby. If an Affiliate of Manager performs services Manager is required to provide under this Agreement, such Affiliate
and its employees must hold such licenses or qualifications as may be required by the Gaming Authorities in connection with the performance of such services, and Manager shall be ultimately responsible hereunder for its Affiliate’s performance.
Tenant shall bear no cost or expense for the Affiliate’s services, other than as expressly set forth in Section 4.1.1 for Centralized Services Charges, Section 3.2 for Reimbursable Expenses,
Section 5.6 for participation in Purchasing Programs, Section 5.11 for an Amenities Manager and Section 12.1.1 for the Insurance Program. Subject to any confidentiality or
similar obligations in favor of third parties (for the avoidance of doubt, exclusive of Manager’s Affiliates) and provided that the same are applied in a Non-Discriminatory manner to all Persons
with whom Manager transacts similar business, Manager shall make available to Tenant such information as reasonably requested by Tenant to compare the cost or expense charged by the Affiliate with charges of an unaffiliated third party. 

5.9 Limitation on Manager’s Obligations. 

5.9.1 General Limitations. Except as otherwise expressly provided in this Agreement, all costs and expenses of Operating the Managed
Facilities shall be payable out of funds from the Operation of the Managed Facilities, or which are otherwise provided by Tenant (or otherwise borne by Services Co in accordance with the Services Co LLC Agreement and the Omnibus Agreement). In no
event shall Manager be obligated to pledge or use its own credit or advance any of its own funds to pay any such costs or expenses for the Managed Facilities. Accordingly, notwithstanding anything to the contrary in this Agreement, Manager shall be
relieved from its obligations to Operate the Managed Facilities in compliance with the Operating Standard and in accordance with this Agreement whenever and to the extent that Manager is prevented or restricted in any way from doing so by reason of:
(a) the occurrence of a Force Majeure Event; (b) the Operating Limitations; (c) Tenant’s breach of any material term of this Agreement at a time (x) following (i) the occurrence of a Leasehold Foreclosure with MLSA
Assumption or (ii) the execution of a New Lease pursuant to Section 17.1(f) of the Lease and (y) when Tenant and Manager are not each an Affiliate of Lease Guarantor (a period when the circumstances described in the preceding
clause (x) and clause (y) both exist is referred to herein as a “Section 5.9.1(c) Period”); (d) any limitation or restriction expressly set forth in this Agreement on Manager’s authority or ability
to expend funds in respect of the Managed Facilities; or (e) the lack of availability of sufficient funds generated by the Managed Facilities to Operate the Managed Facilities during a Section 5.9.1(c) Period, except to the extent caused by a
Manager Event of Default (disregarding any applicable notice and/or cure periods for such purpose); 

  
 29 

 provided that nothing in this Section 5.9.1 shall be deemed to relieve Manager
of its obligation hereunder to Operate the Managed Facilities in a Non-Discriminatory manner regardless of the availability to Manager of sufficient funds to Operate the Managed Facilities (it being
understood, however, for the avoidance of doubt, that Manager shall not be required to expend its own funds to Operate the Managed Facilities). 

5.9.2 Pre-Existing Conditions and External Events. If any environmental, construction, personnel, real
property-related or other problems arise at the Managed Facilities during the Term that: (a) relate to the Operation or condition of the Managed Facilities, or activities undertaken at the Managed Facilities or on the Leased Property, prior to
the Term; (b) are caused by or arise from the actions of Landlord, Landlord’s Affiliates, Tenant or Tenant’s subsidiaries, or (c) are caused by or arise from sources not within the control of Manager and/or its Affiliates
(including a Force Majeure Event), Manager’s services under this Agreement shall not extend to management of any remediation, abatement or other correction of such problems, and Tenant (or Landlord, as applicable, if and to the extent so
required pursuant to the Lease) shall retain full managerial and financial responsibility and liability for and control over the remediation, abatement and correction of such problems (in each case, in accordance with the Lease and all Applicable
Law), and shall take such actions in a timely manner with as little disturbance or interruption of the use and Operation of the Managed Facilities as reasonably practicable. Notwithstanding the foregoing, in the event such problems exist:
(i) Manager will cooperate reasonably with Landlord and/or Tenant, as applicable, in connection with such remediation, abatement and correction efforts; and (ii) if there is a reasonable likelihood that such problems would cause criminal
or civil liability to Manager, Tenant, or Landlord, injury to persons using the Managed Facilities or damage to the Managed Facilities, Tenant shall promptly remedy such problems and if Tenant fails to do so, Manager shall have the right to take all
reasonably necessary steps to comply with any Applicable Law and/or the terms of the Lease, or to avoid criminal or civil liability to Manager, Tenant, or Landlord, or injury to Persons or property; provided that Manager shall give Landlord
and Tenant reasonable prior written notice thereof. 
 5.10 Third-Party Operated Areas. Manager shall, in Consultation with Tenant,
identify particular portions of the Managed Facilities, such as restaurants, bars, entertainment venues, spas, retail locations or such other portion of the Managed Facilities identified and agreed between Tenant and Manager (“Third-Party
Operated Areas”), that shall be operated by third parties (the “Third-Party Managers”) under a sublease, operating agreement, franchise agreement or similar agreement arranged by Manager and in the name of Tenant. Manager
shall have the right, in Consultation with Tenant, to manage the process of selecting any Third-Party Managers. Any sublease, operating agreement, franchise agreement or similar agreement entered into with a Third-Party Manager shall
(i) (a) be consistent with the terms of this Agreement (including that the same shall be Non-Discriminatory to the Managed Facilities) and be subject to and entered into in compliance with all
applicable provisions, terms and conditions of the Lease; (b) require the Third-Party Managers to operate the Third-Party Operated Areas in accordance with the Lease, the Operating Standard and all other provisions, terms and conditions of this
Agreement, subject to the Operating Limitations, and (c) require the Third-Party Managers and their employees and contractors, as applicable, to hold such license or qualification as may be required by the Gaming Authorities or Applicable Law
and (ii) shall otherwise be subject to Tenant’s prior review and approval. 

  
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 5.11 Amenities. Manager shall have the right to propose to have an Affiliate of Manager
(the “Amenities Manager”) operate one or more of the Third-Party Operated Areas. The arrangement with any Amenities Manager for the operation of any restaurants, bars, entertainment venues, spas, retail locations or other amenity as
a part of the Managed Facilities shall be documented pursuant to a sublease or management agreement prepared by Manager and approved by Tenant which shall provide that the restaurant, bars, entertainment venue, spa, retail location or other amenity,
as applicable, shall be (a) designed and constructed in all material respects in accordance with the Operating Standard, Design Guidance and any other standards reasonably required by Tenant and the Amenities Manager, and (b) operated in
accordance with the Operating Standard and all other terms of this Agreement (including that the same shall be Non-Discriminatory to the Managed Facilities), in each case subject to the Operating Limitations,
and in accordance with, and subject to, Applicable Law. Any such arrangement shall be subject to and entered into in compliance with all applicable provisions, terms and conditions of the Lease. 

5.12 Modification of Operation of the Managed Facilities. Notwithstanding the provisions of Article IV and Article V of
this Agreement or anything else to the contrary herein, the Parties acknowledge and agree that, subject to the consent of Landlord (but only to the extent such consent is required pursuant to the Lease), and subject to compliance with any applicable
requirements of the Lease, so long as Tenant is a Controlled Subsidiary of CEC and Manager is a wholly owned subsidiary of CEC, Tenant and Manager may agree in their reasonable discretion to modify, in a
Non-Discriminatory manner, any such provisions of Article IV and Article V (except for Section 5.4.4, Section 5.9 and this Section 5.12) from time to time
(provided that any such modification shall not conflict with any other provisions of this Agreement or any other Lease/MLSA Related Agreement) solely to reflect the operational requirements of the Managed Facilities and the Centralized
Services as they exist from time to time and to otherwise, in a Non-Discriminatory manner, more efficiently operate and manage the Managed Facilities in accordance with the provisions, terms and conditions of
this Agreement and perform the Parties’ obligations hereunder; provided, however, that if any such modification would have a material adverse effect on any Party, then such modification shall require the prior written consent of such Party in
its sole discretion. 
 ARTICLE VI 

APPROVALS 
 6.1 Gaming
Licenses. The Parties agree that this Agreement and all other agreements contemplated herein shall be executed only after receipt of all required approvals and authorizations, if any, by all applicable Gaming Authorities. Tenant, at its
expense, during the Term shall take such commercially reasonable actions as may be reasonably required to obtain and maintain such required approvals or authorizations from the applicable Governmental Authorities to make effective this Agreement as
and if 

  
 31 

 
required by Applicable Law and permit Tenant to make the payments required to be made to Manager under this Agreement and all related agreements; provided that Manager, at Manager’s
expense, during the Term shall maintain such license(s) or qualification(s) applicable to Manager as may be required by applicable Gaming Authorities. Manager shall have the right, at its expense, to participate in all phases of the approval or
authorization process. The Parties shall cooperate in all such undertakings or dealings with Gaming Authorities, and Tenant shall provide reasonable notice to Manager (and, if Landlord is requested to attend, to Landlord) prior to all meetings with
any Gaming Authority for such purpose. Each of Manager and Tenant covenants and agrees to use its best efforts to obtain and maintain all Approvals (other than such license(s) or qualification(s) applicable to the other Party) required to approve
Manager to Operate the Managed Facilities and this Agreement. 
 ARTICLE VII 

PROPRIETARY RIGHTS 
 7.1
Managed Facilities IP. 
 7.1.1 Subject to, and solely in accordance with, the terms, conditions and provisions set forth in this
Agreement, Caesars IP Holder and Tenant hereby grant to Manager (and Manager hereby accepts) a non-exclusive, royalty-free, fully-paid up, worldwide right and license to use, modify, distribute,
copy/reproduce, publish, create derivative works of, and otherwise commercialize or exploit, the Managed Facilities IP as necessary to Operate, promote and market the Managed Facilities in accordance with the terms of this Agreement throughout the
Term of this Agreement and during the Transition Period. 
 7.1.2 Any and all uses of the Trademarks included in the Managed Facilities IP
(including any Trademarks that comprise any Brands) by Manager shall be subject to the prior written consent of Caesars IP Holder or Tenant, or any of their respective designees, as applicable, such consent to be provided or withheld in Caesars IP
Holder’s, Tenant’s or such designee’s sole discretion; provided, however, that Caesars IP Holder and Tenant acknowledge and agree that (i) with respect to any uses consistent with the uses of the Trademarks as were
in effect on or prior to the Commencement Date, or (ii) to the extent such uses by Manager are otherwise consistent with those uses of the Trademarks included in the Licensed IP (as defined in the Omnibus Agreement) that are permitted pursuant
to the terms of the Omnibus Agreement, such uses (collectively, the “Permitted Uses”) are in each case hereby deemed approved; provided, further, that consent required under this Section 7.1.2
shall be provided in a Non-Discriminatory manner. Caesars IP Holder, Tenant, or any of their respective designees, as applicable, shall have the sole and exclusive right to determine the form and manner of
presentation of the applicable Trademarks included in the Managed Facilities IP (including any Trademarks that comprise any Brands) in connection with the Operation of the Managed Facilities, including all uses of such Trademarks in marketing,
sales, advertising and promotional materials of the Managed Facilities, any goods or services relating to the Managed Facilities and any signage for the Managed Facilities (subject, in each case, to 

  
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the deemed approval of any Permitted Uses); provided that such determination shall be made in accordance with the Operating Standard, and in any event, in a
Non-Discriminatory manner. 
 7.1.3 All rights not expressly granted hereunder are reserved by
Caesars IP Holder or Tenant, as applicable. Notwithstanding that Manager shall use the Managed Facilities IP in connection with the Operation of the Managed Facilities, Manager acknowledges that, as between Caesars IP Holder or Tenant, on the one
hand, and Manager, on the other hand, this use of the Managed Facilities IP shall not create in Manager’s favor any proprietary right, title, or interest in or to any of the Managed Facilities IP, and all rights of ownership and control of the
Managed Facilities IP shall (subject to Section 7.2.2.3) reside solely with Caesars IP Holder or Tenant, as applicable. If and to the extent Manager acquires any proprietary right, title or interest in or to any of the
Managed Facilities IP, Manager hereby irrevocably assigns all such right, title and interest therein to Caesars IP Holder or Tenant, as applicable. 

7.1.4 Manager acknowledges and agrees that the right to use the Managed Facilities IP in connection with the Operation, promotion and
marketing of the Managed Facilities (a) excludes any right granted to Manager to apply to register or register any Trademarks, copyrights or domain names, in each case included in or that would be reasonably likely to cause confusion with any
Trademark, copyright, or domain name included in the Managed Facilities IP, or seek any patents which cover any proprietary element of the Managed Facilities IP; (b) excludes any right of Manager to sublicense or subcontract or permit other
Persons to use the Managed Facilities IP (including the production of branded products) without the prior written consent of Caesars IP Holder or Tenant or any of their respective designees, as applicable, subject, in each case, to the deemed
approval for any Permitted Uses as set forth in Section 7.1.2, (c) excludes any right to initiate or control any cease and desist letters, litigations, arbitrations and other disputes, actions or proceedings with
respect to actual or alleged third-party infringements, misappropriations or other violations of the Managed Facilities IP or claims concerning the Managed Facilities IP, including the right to settle disputes in connection therewith, and
(d) does not permit Manager to acquire, or represent in any manner that Manager has acquired, in any manner any ownership rights in the Managed Facilities IP or any Trademarks that are confusingly similar to the Trademarks included in the
Managed Facilities IP, including any Trademarks that comprise any Brands. 
 7.1.5 Manager acknowledges and agrees that all uses by Manager
of the Trademarks included in the Managed Facilities IP (including any Trademarks that comprise any Brands) and the goodwill created therein shall inure solely to the benefit of Caesars IP Holder or Tenant, as applicable. Manager will execute all
documents reasonably requested by Caesars IP Holder or Tenant to evidence Caesars IP Holder’s or Tenant’s ownership rights in the Managed Facilities IP, as applicable, and Caesars IP Holder and/or Tenant, as applicable, will execute all
documents reasonably requested by or on behalf of Manager to evidence Manager’s right to use the Managed Facilities IP as set forth in this Agreement. Manager shall not, directly or indirectly, contest or aid others in contesting Caesars IP
Holder’s or Tenant’s respective ownership of the Managed Facilities IP, or the validity, enforceability or registrability of the Managed Facilities IP. 

  
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Manager shall not, and shall cause its Affiliates not to, do anything which impairs Caesars IP Holder’s or Tenant’s ownership, or the validity, of their respective Managed Facilities
IP. Each of Caesars IP Holder and Tenant shall not, directly or indirectly, contest or aid others in contesting, Manager’s right to use the Managed Facilities IP as set forth in this Agreement. 

7.1.6 Manager shall promptly notify Caesars IP Holder and Tenant in writing of (a) any alleged infringement, misappropriation or other
violation of the Managed Facilities IP by another Person’s actions, products or services, and (b) any other Claim concerning the Managed Facilities IP. 

7.1.7 Manager shall promptly notify Landlord in writing of any action filed with any Governmental Authority against Manager, or to
Manager’s knowledge, against Caesars IP Holder or Tenant, alleging infringement, misappropriation, or other violation of any alleged material Intellectual Property right of any third party relating to or arising out of the use or registration
of any material Managed Facilities IP over which Landlord has been granted a lien pursuant to the Lease or otherwise. 
 7.1.8 Manager
acknowledges and agrees that any unauthorized use of the Managed Facilities IP by Manager may result in irreparable harm to Caesars IP Holder or Tenant, as applicable, for which remedies other than injunctive relief may be inadequate, and that
Caesars IP Holder or Tenant, as applicable, may be entitled to receive from a court of competent jurisdiction injunctive or other equitable relief to restrain such unauthorized acts in addition to other appropriate remedies. 

7.2 Proprietary Information and Systems; Guest Data and Property Specific Guest Data. 

7.2.1 Proprietary Information and Systems. Tenant acknowledges that, pursuant to the Omnibus Agreement, Services Co makes available to
Manager the Proprietary Information and Systems, and that the use by Manager and ownership of such Proprietary Information and Systems shall be governed by the Omnibus Agreement; provided that such use by Manager shall be made in accordance
with the Operating Standard, and in any event, in a Non-Discriminatory manner. 
 7.2.2 Guest
Data and Property Specific Guest Data. 
 7.2.2.1 Tenant acknowledges that, pursuant to the Omnibus Agreement, Manager is granted a
license to Guest Data, and that the use by Manager and ownership of such Guest Data shall be governed by the Omnibus Agreement; provided that such use by Manager shall be made in accordance with the Operating Standard, and in any event in a Non-Discriminatory manner. 
 7.2.2.2 Manager recognizes the right of ownership of Tenant and its
Affiliates to all Property Specific Guest Data. Tenant agrees that throughout the Term, Manager or Manager’s designees may host and retain Property Specific Guest Data, which may be collected and stored in systems implemented and managed by or
on behalf of Manager or its Affiliates, including all Property Specific Guest Data gathered 

  
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by or on behalf of Manager or its Affiliates in connection with any casino player loyalty program card or successor player or guest rewards program. Tenant or one of its Affiliates shall own
(jointly with Manager pursuant to Section 7.2.2.3) and be entitled to use any and all of the Property Specific Guest Data gathered by or on behalf of Manager or its Affiliates in connection with this Agreement, including
through such programs. 
 7.2.2.3 Subject to Applicable Law, (i) Manager shall have and is hereby assigned by Tenant joint ownership
(with no duty to account) to all Property Specific Guest Data and (ii) upon expiration or termination of this Agreement, Manager shall be permitted to retain (or, as necessary, to request and retain) a copy of each of the Property Specific
Guest Data and the Guest Data; provided that Manager’s use of Property Specific Guest Data and the Guest Data shall be subject to the limitations set forth in Section 2.3.2, and nothing contained herein shall be
construed to limit in any manner (as between Manager and Tenant) Tenant’s rights of ownership or use of Property Specific Guest Data either prior to or following expiration or termination of this Agreement. 

7.2.2.4 Notwithstanding anything contained in this Agreement to the contrary, the use of the Property Specific Guest Data and the Guest Data
by Manager and Tenant shall, in all events, be in accordance with the Operating Standard and in any event in a Non-Discriminatory manner, and shall further be subject to the limitations and restrictions set
forth in any other agreement or other contract related thereto (including the Lease), this Agreement, Applicable Law, and this Section 7.2.2. 

7.3 Assignment of Derivative Works. Manager hereby irrevocably assigns to Tenant or Caesars IP Holder, as applicable, all right, title
and interest in and to any Intellectual Property (including any Property Specific Guest Data or Guest Data) that is created, developed or acquired from time to time by or on behalf of Manager and that is Derivative Work of any Managed Facilities IP.

 7.4 Survival. Section 7.2 shall survive the expiration or termination of this Agreement. 

ARTICLE VIII 

CONFIDENTIALITY 
 8.1
Disclosure by Tenant. Tenant acknowledges (i) that Manager will provide certain Manager Confidential Information to Tenant in connection with the Operation of the Managed Facilities, and that such Manager Confidential Information is
proprietary to Manager and its Affiliates, and includes trade secrets; and (ii) Tenant may receive certain Landlord Confidential Information in connection with the Managed Facilities, and that such Landlord Confidential Information is
proprietary to Landlord and its Affiliates, and may include trade secrets. Accordingly, during the Term and thereafter: (a) Tenant shall not, and shall cause its Affiliates not to, use Manager Confidential Information or Landlord Confidential
Information in any other business or capacity, and Tenant acknowledges such use would constitute an unfair method of competition; (b) Tenant 

  
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shall maintain the confidentiality of, and shall not disclose to any other Person (including the media), any Manager Confidential Information, Landlord Confidential Information or the terms of
this Agreement, except to its shareholders, partners, directors, officers, employees, agents, representatives, legal counsel, accountants, existing and potential landlords and their lenders (including, to the extent required under the Lease, to
Landlord and any Landlord’s Lender), and existing and potential Leasehold Lenders and investors and potential purchasers (provided that such potential investor or purchaser is not a Tenant Competitor), but only on a reasonable “need
to know” basis in connection with its interest in the Managed Facilities and subject to customary confidentiality protections (including under the Lease); (c) Tenant shall not make unauthorized copies of any portion of Manager Confidential
Information or Landlord Confidential Information disclosed in written, electronic or other form; and (d) Tenant shall ensure that none of its shareholders, partners, directors, officers, employees, agents, legal counsel, accountants and
existing and potential landlords (including Landlord and Landlord’s Lenders (in respect of Manager Confidential Information)), Leasehold Lenders or investors or potential purchasers use, disclose or copy any Manager Confidential Information or
Landlord Confidential Information or disclose any terms of this Agreement in violation of this Agreement, or take any other actions that Tenant is otherwise prohibited from taking under this Section 8.1. Notwithstanding the
foregoing, the restrictions on the use and disclosure of Manager Confidential Information, Landlord Confidential Information or the terms of this Agreement shall not apply: (i) to information or techniques which are or become generally known to
the public (other than through any breach of this Section 8.1 with respect to confidentiality); (ii) to the extent such disclosure is required under Applicable Laws, including reporting requirements applicable to
public companies, or stock exchange rules; or (iii) to information known to Tenant (other than in connection with the performance of its rights or duties hereunder) before disclosure by either Manager or Landlord, or disclosed to Tenant by a
third party not subject to confidentiality obligations to either Manager or Landlord, as applicable, or developed by Tenant without use of Manager Confidential Information or Landlord Confidential Information. In the event that Tenant or any Person
to which Tenant has disclosed Manager Confidential Information or Landlord Confidential Information is requested or required by oral question, interrogatory, request for information or documents, subpoena, civil investigative demand or similar
process to disclose any Manager Confidential Information or Landlord Confidential Information, Tenant shall and shall cause such Person to: (A) provide Manager (in the case of Manager Confidential Information) or Landlord (in the case of
Landlord Confidential Information) with prompt notice, to the extent legally permissible, so that Manager and/or Landlord, as applicable, and their respective Affiliates may seek a protective order or other appropriate remedy or, in their
discretion, waive compliance with the provisions of this Section 8.1; and (B) reasonably cooperate with Manager, Landlord and their respective Affiliates, at their expense, in any effort Manager, Landlord or any of
their respective Affiliates undertakes to obtain a protective order or other remedy. In the event that such protective order or other remedy is not obtained or Manager (in the case of Manager Confidential Information) or Landlord (in the case of
Landlord Confidential Information) in its discretion waives compliance with the provisions of this Section 8.1, Tenant shall and shall cause such Person to disclose to the Person compelling disclosure only that portion of
the Manager 

  
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Confidential Information or Landlord Confidential Information, as applicable, that Tenant is advised, by outside counsel, is legally required and to use commercially reasonable efforts to obtain
reliable assurance that confidential treatment is accorded the Manager Confidential Information or Landlord Confidential Information so disclosed (to the extent available). Tenant shall be responsible for any acts or omissions of any of its
employees, members, managers, attorneys, accountants, agents, representatives, consultants, existing and potential Leasehold Lenders and investors and potential purchasers in violation of this Section 8.1. 

8.2 Disclosure by Manager. Manager acknowledges that (i) Tenant may from time to time provide certain Tenant Confidential
Information to Manager in connection with the Operation of the Managed Facilities, and that such Tenant Confidential Information is proprietary to Tenant and its Affiliates, and may include trade secrets and (ii) Manager may receive certain
Landlord Confidential Information in connection with the Managed Facilities, and that such Landlord Confidential Information is proprietary to Landlord and its Affiliates, and may include trade secrets. Accordingly, during the Term and thereafter:
(a) Manager shall not, and shall cause its Affiliates not to, use Tenant Confidential Information or Landlord Confidential Information in any other business or capacity (other than any Tenant Confidential Information that Manager independently
possesses in its capacity as a recipient of services from Services Co or the Guest Data that is licensed to Manager pursuant to the Omnibus Agreement), and Manager acknowledges such use would constitute an unfair method of competition;
(b) Manager shall maintain the confidentiality of, and shall not disclose to any other Person (including the media), any Tenant Confidential Information, the Landlord Confidential Information or the terms of this Agreement, except to its
shareholders, partners, directors, officers, employees, agents, representatives, legal counsel, accountants and existing and potential lenders and investors and potential purchasers, but only on a reasonable “need to know” basis in
connection with its Operation of the Managed Facilities and subject to customary confidentiality protections; (c) Manager shall not make unauthorized copies of any portion of Tenant Confidential Information or Landlord Confidential Information
disclosed in written, electronic or other form; and (d) Manager shall ensure that none of its shareholders, partners, directors, officers, employees, agents, legal counsel, accountants and existing and potential lenders or investors or
potential purchasers use, disclose or copy any Tenant Confidential Information or Landlord Confidential Information or disclose any terms of this Agreement in violation of this Agreement or take any other actions that Manager is otherwise prohibited
from taking under this Section 8.2. Notwithstanding the foregoing, the restrictions on the use and disclosure of Tenant Confidential Information, Landlord Confidential Information or the terms of this Agreement shall not
apply: (i) to information or techniques which are or become generally known to the public (other than through any breach of this Section 8.2 with respect to confidentiality); (ii) to the extent such disclosure is
required under Applicable Laws, including reporting requirements applicable to public companies, or stock exchange rules; or (iii) to information known to Manager (other than in connection with the performance of its rights or duties hereunder)
before disclosure by either Landlord or Tenant or disclosed to Manager by a third party not subject to confidentiality obligations to either Landlord or Tenant, as applicable, or developed by Manager without use of Tenant Confidential Information or
Landlord Confidential Information. In the event that 

  
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Manager or any Person to which Manager has disclosed either Tenant Confidential Information or Landlord Confidential Information is requested or required by oral question, interrogatory, request
for information or documents, subpoena, civil investigative demand or similar process to disclose any Tenant Confidential Information or Landlord Confidential Information, Manager shall and shall cause such Person to: (A) provide Tenant (in the
case of Tenant Confidential Information) or Landlord (in the case of Landlord Confidential Information) with prompt notice, to the extent legally permissible, so that Tenant and/or Landlord, as applicable and their respective Affiliates may seek a
protective order or other appropriate remedy or, in their discretion, waive compliance with the provisions of this Section 8.2; and (B) reasonably cooperate with Tenant, Landlord and their Affiliates, at their expense,
in any effort Tenant, Landlord, as applicable, or any of their respective Affiliates undertakes to obtain a protective order or other remedy. In the event that such protective order or other remedy is not obtained or Tenant (in the case of Tenant
Confidential Information) or Landlord (in the case of Landlord Confidential Information) in its discretion waives compliance with the provisions of this Section 8.2, Manager shall and shall cause such Person to disclose to
the Person compelling disclosure only that portion of the Tenant Confidential Information or Landlord Confidential Information that Manager is advised, by outside counsel, is legally required and to use commercially reasonable efforts to obtain
reliable assurance that confidential treatment is accorded the Tenant Confidential Information or Landlord Confidential Information so disclosed (to the extent available). Manager shall be responsible for any acts or omissions of any of its
employees, members, managers, attorneys, accountants, agents, representatives, consultants, existing and potential lenders and investors and potential purchasers in violation of this Section 8.2. 

8.3 Disclosure by Landlord. Landlord acknowledges that (i) Landlord may receive certain Manager Confidential Information in
connection with the Operation of the Managed Facilities, and that such Manager Confidential Information is proprietary to Manager and its Affiliates, and includes trade secrets; and (ii) Landlord may receive certain Tenant Confidential
Information in connection with the Operation of the Managed Facilities, and that such Tenant Confidential Information is proprietary to Tenant and its Affiliates, and may include trade secrets. Accordingly, during the Term and thereafter:
(a) Landlord shall not, and shall cause its Affiliates not to, use either Manager Confidential Information or Tenant Confidential Information in any other business or capacity, and Landlord acknowledges such use would constitute an unfair
method of competition; (b) Landlord shall maintain the confidentiality of, and shall not disclose to any other Person (including the media), any Manager Confidential Information or Tenant Confidential Information or the terms of this Agreement,
except to its shareholders, partners, directors, officers, employees, agents, representatives, legal counsel, accountants and existing and potential lenders and investors and potential purchasers, but only on a reasonable “need to know”
basis in connection with its ownership of the Managed Facilities and subject to customary confidentiality protections; (c) Landlord shall not make unauthorized copies of any portion of Manager Confidential Information or Tenant Confidential
Information disclosed in written, electronic or other form; and (d) Landlord shall ensure that none of its shareholders, partners, directors, officers, employees, agents, legal counsel, accountants and existing and potential lenders or
investors or potential purchasers use, disclose or copy any Manager Confidential 

  
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Information or Tenant Confidential Information or disclose any terms of this Agreement in violation of this Agreement or take any other actions that Landlord is otherwise prohibited from taking
under this Section 8.3. Notwithstanding the foregoing, the restrictions on the use and disclosure of Manager Confidential Information, Tenant Confidential Information or the terms of this Agreement shall not apply:
(i) to information or techniques which are or become generally known to the public (other than through any breach of this Section 8.3 with respect to confidentiality); (ii) to the extent such disclosure is
required under Applicable Laws, including reporting requirements applicable to public companies, or stock exchange rules; or (iii) to information known to Landlord (other than in connection with the performance of its rights or duties
hereunder) before disclosure by either Manager or Tenant or disclosed to Landlord by a third party not subject to confidentiality obligations to either Manager or Tenant, as applicable, or developed by Landlord without use of either Manager
Confidential Information or Tenant Confidential Information. In the event that Landlord or any Person to which Landlord has disclosed either Manager Confidential Information or Tenant Confidential Information is requested or required by oral
question, interrogatory, request for information or documents, subpoena, civil investigative demand or similar process to disclose any Manager Confidential Information or Tenant Confidential Information, Landlord shall and shall cause such Person
to: (A) provide Manager (in the case of Manager Confidential Information) or Tenant (in the case of Tenant Confidential Information), with prompt notice, to the extent legally permissible, so that Manager and/or Tenant, as applicable and their
respective Affiliates may seek a protective order or other appropriate remedy or, in their discretion, waive compliance with the provisions of this Section 8.3; and (B) reasonably cooperate with either Manager or
Tenant, as applicable, and their Affiliates, at their expense, in any effort Manager or Tenant or any of its Affiliates undertakes to obtain a protective order or other remedy. In the event that such protective order or other remedy is not obtained
or Manager (in the case of Manager Confidential Information) or Tenant (in the case of Tenant Confidential Information) in its discretion waives compliance with the provisions of this Section 8.3, Landlord shall and shall
cause such Person to disclose to the Person compelling disclosure only that portion of the Manager Confidential Information or Tenant Confidential Information that Landlord is advised, by outside counsel, is legally required and to use commercially
reasonable efforts to obtain reliable assurance that confidential treatment is accorded the Manager Confidential Information or Tenant Confidential Information so disclosed (to the extent available). Landlord shall be responsible for any acts or
omissions of any of its employees, members, managers, attorneys, accountants, agents, representatives, consultants, existing and potential lenders and investors and potential purchasers in violation of this Section 8.3.

 8.4 Public Statements. Tenant and Manager shall cooperate with each other on all press releases and other public statements
relating to the Managed Facilities and neither Tenant nor Manager shall issue any press release or other public statement relating to the Managed Facilities without the prior written approval of Tenant or Manager, as applicable, and receipt of any
required approvals from any Governmental Authority, except for any public statement required under Applicable Law, which shall not require such approval and shall be governed by the final two sentences of this Section 8.4;
provided that Manager and its Affiliates may, subject to Applicable Law, 

  
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make public statements and press releases regarding the Managed Facilities in connection with CEC’s general business operations, in the Operation of the Managed Facilities or in the ordinary
course of Manager’s Operation of the Managed Facilities. With respect to any public statement required under Applicable Law made by Tenant, Tenant shall provide Manager and with respect to any public statement required under Applicable Law made
by Manager, Manager shall provide Tenant, with a reasonable opportunity to review and comment upon any such statement prior to its issuance. In addition, Tenant and Manager may make reference to the Managed Facilities, this Agreement and such
Party’s business in connection with making Securities Exchange Commission filings, investor and lender reports and presentations, financing documents and offering materials. 

8.5 Cumulative Remedies. 

8.5.1 Tenant acknowledges that any violation of the provisions of Section 8.1 or 8.4 would cause irreparable
harm and injury to either Manager or Landlord, as applicable, and its Affiliates and that money damages would not be an adequate remedy for any such violation and, accordingly, Manager or Landlord, as applicable, and its Affiliates shall be entitled
to injunctive or other equitable relief to prevent any actual or threatened breach of any of such provisions and to enforce such provisions specifically, without the necessity of posting a bond or other security or of proving actual damages, by an
appropriate court in the appropriate jurisdiction. 
 8.5.2 Manager acknowledges that any violation of the provisions of
Section 8.2 or 8.4 would cause irreparable harm and injury to either Tenant or Landlord, as applicable, and its Affiliates and that money damages would not be an adequate remedy for any such violation and,
accordingly, Tenant or Landlord, as applicable, and its Affiliates shall be entitled to injunctive or other equitable relief to prevent any actual or threatened breach of any of such provisions and to enforce such provisions specifically, without
the necessity of posting a bond or other security or of proving actual damages, by an appropriate court in the appropriate jurisdiction. 

8.5.3 Landlord acknowledges that any violation of the provisions of Section 8.3 would cause irreparable harm and
injury to either Manager or Tenant, as applicable, and its Affiliates and that money damages would not be an adequate remedy for any such violation and, accordingly, such Manager or Tenant and its Affiliates shall be entitled to injunctive or other
equitable relief to prevent any actual or threatened breach of any of such provisions and to enforce such provisions specifically, without the necessity of posting a bond or other security or of proving actual damages, by an appropriate court in the
appropriate jurisdiction. 
 8.5.4 The remedies provided in this Section 8.5 are cumulative and shall not exclude
any other remedies to which a Party or its Affiliates may be entitled under this Agreement or Applicable Law, and the exercise of a remedy under this Section 8.5 shall not be deemed an election excluding any other remedy or
any waiver thereof. 

  
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 8.5.5 Without limiting Section 2.5 in any manner, for the avoidance of
doubt, the Parties acknowledge and agree that nothing in this Article VIII is intended or shall be construed to, limit, vitiate or supersede the provisions, terms and conditions of Article XXIII of the Lease. 

8.6 Survival. This Article VIII shall survive the expiration or termination of this Agreement. 

ARTICLE IX 
 MARKETING

 9.1 Marketing. 

9.1.1 Managed Facilities Marketing Program. In addition to the Managed Facilities’ participation in any marketing program included
as part of the Centralized Services, Manager shall develop and implement a specific marketing program for the Managed Facilities and each Managed Facility, which shall provide for the planning, publicity, internal communications, organizing and
budgeting activities to be undertaken, and which may include the following: (a) production, distribution and placement of promotional materials relating to the Managed Facilities and each Managed Facility, including materials for the promotion
of employee relations; (b) development and implementation of promotional offers or programs that benefit the Managed Facilities or any Managed Facility and are undertaken by Manager or by a group of hotels and casinos that includes any Managed
Facility; (c) attendance of Managed Facilities Personnel at conferences, conventions, meetings, seminars and travel congresses; (d) selection of and guidance to advertising agency and public relations personnel; and (e) subject to
Tenant’s approval to the extent required herein, preparation and dissemination of news releases for national and international trade and consumer publications. Tenant shall not publish any advertising materials or otherwise implement any
marketing, advertising or promotion program for any Managed Facility on its own, without Manager’s prior written approval (not to be unreasonably withheld, conditioned, or delayed). 

9.1.2 Development and Implementation. The development and implementation of the Managed Facilities’ specific marketing program
shall be effected substantially by Managed Facilities Personnel, with periodic assistance from Corporate Personnel with marketing and sales expertise. Except as may be included in the Centralized Services Charges, any such assistance provided by any
Corporate Personnel shall be at no cost to Tenant or the Managed Facilities for such Corporate Personnel’s time, but the reasonable Out-of-Pocket Expenses incurred
by Manager or its Affiliates in connection with such assistance shall be Operating Expenses. Subject to the provisions of Section 5.1 relating to the Annual Budget, the Managed Facilities’ specific marketing program
shall be in accordance with the Operating Standard, and in any event shall be Non-Discriminatory, and comply with the sales, advertising and public relations policies and guidelines and corporate identity
requirements established by Manager, for Other Managed Facilities and Other Managed Resorts, as such policies, guidelines and 

  
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requirements may be modified from time to time. Subject to the provisions of Section 5.1 relating to the Annual Budget, Manager shall have the right to engage a Person
on behalf of Tenant to perform such marketing and public relations activities for the Managed Facilities pursuant to this Article IX. 

9.1.3 Content. Manager shall have the right to create or obtain, or at the reasonable request of Manager, Tenant shall create or obtain
and provide to Manager, updated photographs, descriptive content and other media, such as video and floor plans, of the Managed Facilities (collectively, “Content”) from time to time in accordance with Manager’s specifications
for Content. As between Manager and Tenant, all ownership or license rights to original Content (including any Intellectual Property therein), created or procured by Manager or Tenant, shall vest in Tenant. Manager hereby assigns to Tenant or its
applicable subsidiary all of Manager’s rights, title and interest in such Content. If Tenant obtains Content, Tenant shall ensure that any such Content includes usage rights for the benefit of Manager in connection with the operation of the
Managed Facilities during the Term. Nothing in this Section 9.1.3 shall be interpreted to vest in Manager or Tenant any ownership or usage rights in any photographs, descriptive content, or other media or works of
authorship owned by or licensed to Landlord. 
 ARTICLE X 

BOOKS AND RECORDS 
 10.1
Maintenance of Books and Records. Manager shall keep and maintain, on an Operating Year basis in accordance with GAAP, accurate books, records and accounts reflecting all of the financial affairs, and all items of income and expense, in
connection with the Operation of the Managed Facilities and otherwise in a manner consistent with the then existing policies and standards applicable to Other Managed Facilities and Other Managed Resorts and otherwise reasonably acceptable to
Tenant. All books of account and other financial records of the Managed Facilities shall be available to Tenant, any Leasehold Lender and their respective agents, representatives and designees (subject to Section 8.1) at
all reasonable times for examination, audit, inspection and copying; provided that Tenant shall bear all Out-Of-Pocket Expenses incurred by Manager or its
Affiliates in connection with any such examination, audit, inspection or copying. All of the financial books and records of the Managed Facilities, including books of account and front office records shall be the property of Tenant. Notwithstanding
anything to the contrary contained in this Agreement, Tenant shall have the right (not more than once per calendar year), at its expense, to or to cause its agents or auditors to carry out an independent audit or inspection of the books of accounts
and records and/or any other information maintained by Manager or Services Co (or any of their respective Affiliates that are performing any of the services of Manager or Services Co described hereunder) with respect to the Managed Facilities
(including, without limitation, all information, records and materials with respect to contracts and engagements entered into by Manager and/or Services Co with Affiliates and/or with respect to Centralized Service Charges and/or purchasing
programs, which information shall include terms of all cost allocations between the Managed Facilities on the one hand and other hotel properties and casinos owned and/or managed by Manager and its Affiliates (or furnished Centralized Services

  
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by Services Co or any Affiliate) and subject to the same agreements and/or purchasing programs on the other hand). In the event of any such audit or inspection, Manager shall promptly respond to
any queries raised by any such auditors in relation to that audit and shall promptly make available to any such auditors any and all materials relevant to the management of the applicable Managed Facilities. 

10.2 Monthly Financial Reports. Manager shall cause to be prepared and delivered to Tenant reasonably detailed unaudited monthly
operating reports (the “Monthly Reports”) that reflect the operational results of the Managed Facilities for each month of each Operating Year. Manager shall deliver each Monthly Report to Tenant on or before the twenty fifth (25th)
day of the month following the month (or partial month) to which such Monthly Report relates. At a minimum, the Monthly Reports shall include: (a) a balance sheet including current and prior month and prior
year-end comparisons (to the extent applicable) and differences in reasonable detail; (b) an income and expense statement for such month and for the elapsed portion of the current Operating Year through
the end of such month (with comparison to previous year); (c) a statement of cash flows for such month and for the elapsed portion of the current Operating Year through the end of such month (with comparison to previous year) in reasonable
detail to allow Tenant to identify and ascertain sources and uses thereof; (d) a statement of account balances in each Bank Account; and (e) such other reports or information otherwise specified in this Agreement to be provided to Tenant
on a monthly basis or as Tenant and Manager may reasonably agree from time to time. Notwithstanding anything to the contrary contained in this Section 10.2, Manager shall not be obligated to deliver a Monthly Report for the
last month of each calendar quarter. 
 10.3 Tenant Financial Statements. Manager shall cause to be prepared and delivered to Tenant
the financial statements and such other information, budgets, reports and certifications of Tenant required to be delivered by Tenant to Landlord pursuant to Section 23.1(b) of the Lease (other than, for the avoidance of doubt, Sections
23.1(b)(ii) and (iii) of the Lease, it being understood that the required deliveries under Sections 23.1(b)(ii) and (iii) of the Lease are addressed in the next paragraph), on or prior to the date of delivery
required by such Section 23.1(b) of the Lease; provided that such financial statements shall be prepared in accordance with GAAP and shall otherwise conform to the requirements of “Financial Statements” as
defined in the Lease. 
 With respect to annual financial statements required to be delivered by CEOC and CEC pursuant to Section
23.1(b)(ii) and (iii) of the Lease, respectively (the “Certified Financial Statements”), Manager shall cooperate in all respects with CEOC, CEC and the Designated Accountant in the preparation of and audit of such
financial statements to the extent incorporating information regarding the Managed Facilities required to be delivered by Manager hereunder, including the delivery by Manager of any financial information generated by Manager pursuant to the terms of
this Agreement and reasonably required by CEOC and CEC to prepare and the Designated Accountant to issue its report on such audited financial statements. 

CEC acknowledges the obligations of Tenant with respect to financial statements and other information of CEC pursuant to Sections
23.1(b)(iii) and 23.2(b) of 

  
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the Lease and agrees to provide its financial statements and other information in accordance with, and on or before the dates required in, Section 23.1(b)(iii) of the Lease (and to use its
commercially reasonable efforts to provide such financial statements and other information to the extent required pursuant to Section 23.2(b) of the Lease and to permit the use of such financial statements and other information as
contemplated thereunder (including, without limitation, commercially reasonable efforts in connection with the preparation and delivery of such management representation letters, comfort letters and consents of applicable certified independent
auditors to inclusion of their reports in applicable financing disclosure documents, to the extent required to be delivered to Landlord pursuant to Section 23.2(b) of the Lease)). 

10.4 Other Reports and Schedules. In addition to the financial statements and other information required to be delivered to Tenant
hereunder, Manager shall cause to be prepared and delivered to Tenant any additional reports and schedules as Tenant and Manager may reasonably agree from time to time, and copies of such leases, contracts and documents as Tenant may reasonably
request from time to time. Notwithstanding the foregoing, subject to Section 2.5 and to compliance with any requirements of the Lease, so long as Tenant is a Controlled Subsidiary of CEC and Manager is a wholly owned
subsidiary of CEC, Tenant and Manager may modify the requirements of this Article X with respect to the subject matter thereof from time to time in their discretion; provided that any such modifications shall be of no force or effect
unless they (x) are Non-Discriminatory and (y) do not conflict with any other provisions of this Agreement or any other Lease/MLSA Related Agreement; and provided, further, that if any
such modification would have a material adverse effect on any Party, then such modification shall require the prior written consent of such Party in its sole discretion. 

ARTICLE XI 
 ASSIGNMENTS

 11.1 Assignment by Tenant. The Parties agree that: 

11.1.1 Tenant Assignments Restricted. Except as otherwise expressly permitted in Article XIII or this
Article XI, Tenant may not cause, permit or suffer an Assignment, in whole or in part, directly or indirectly, of any of Tenant’s right, title or interest in and to (or of any of its obligations under) this Agreement
without the prior express written consent of each of Manager, Lease Guarantor and Landlord. Any Change of Control of Tenant shall be deemed an Assignment for purposes of this Article XI (whether or not the same is deemed an
assignment of the Lease pursuant to the provisions thereof) (it being understood that any Transfer of Ownership Interests in Tenant that does not constitute a Change of Control of Tenant shall not be deemed an Assignment). Any attempted Assignment
(including any attempted deemed Assignment) in violation of the preceding portion of this Section 11.1.1 (whether or not permitted under the Lease) shall be void and of no force or effect and shall constitute an Event of
Default by Tenant governed by the terms of Section 16.1 of this Agreement. Without limitation of any other notification requirements otherwise set forth in this Article XI, Tenant shall provide prompt written notice
to Manager and Landlord of any proposed Assignment (excluding, 

  
 44 

 
for the avoidance of doubt, the transactions described in Section 11.1.2.4), Transfer of Ownership Interests (other than pursuant to
Section 11.1.2.3 or with respect to any Transfer of an Ownership Interest in CEC (unless constituting a Change of Control of CEC)), Change of Control or Foreclosure by Leasehold Lender, in each case both at the time of
execution of any definitive agreement with respect thereto and at the time of the consummation of any such transaction. 
 11.1.2
Assignment by Tenant without Consent. 
 11.1.2.1 Notwithstanding the provisions of Section 11.1.1, Tenant
(and/or Leasehold Lender under a Leasehold Financing) shall have the right, without Manager’s or Lease Guarantor’s or Landlord’s consent, to effect or permit an Assignment (or deemed Assignment) of this Agreement by Tenant in
connection with any applicable Lease Foreclosure Transaction that is made as expressly permitted by, and strictly in accordance with, Section 22.2(i) of the Lease; provided that the conditions described in
Section 11.1.3 and all applicable provisions of the Lease are satisfied in connection with such Assignment or Transfer of Ownership Interests. 

11.1.2.2 Notwithstanding the provisions of Section 11.1.1, Tenant shall have the right, without Manager’s,
Lease Guarantor’s or Landlord’s consent, to effect or permit an Assignment of this Agreement to an Affiliate of Tenant or to CEC or an Affiliate of CEC; provided that the conditions described in
Section 11.1.3 and any applicable provisions of the Lease are satisfied in connection with such Assignment. 

11.1.2.3 Notwithstanding the provisions of Section 11.1.1, Tenant shall have the right, without Manager’s,
Lease Guarantor’s or Landlord’s consent, to effect or permit a Transfer of Ownership Interests in Tenant to the extent such Transfer of Ownership Interests is expressly permitted by (and made in accordance with) Section 22.2(iii),
Section 22.2(iv) or Section 22.2(v) of the Lease and any such other applicable provisions of the Lease. 
 11.1.2.4
Notwithstanding the provisions of Section 11.1.1, Tenant shall have the right, without Manager’s, Lease Guarantor’s or Landlord’s consent, to effect entry into a Sublease or Booking (as each such term is
defined in the Lease) that is expressly permitted by (and made in accordance with) Section 22.3 and Section 22.7, as applicable, of the Lease or a lien or other encumbrance expressly permitted by
(and made in accordance with) Article XI or Article XVII of the Lease and/or Section 13.1.1 of this Agreement (it being understood, for the avoidance of doubt, that none of the foregoing shall result in Tenant
being released from this Agreement or any of the other Lease/MLSA Related Agreements). 
 11.1.2.5 Notwithstanding anything otherwise set
forth in this Agreement, any Assignment (including any deemed Assignment) or any Transfer of Ownership Interests (whether or not Manager’s, Lease Guarantor’s or Landlord’s consent is required or granted) pursuant to this
Section 11.1 or otherwise shall not result in the termination, release, reduction or limitation of any of Lease Guarantor’s obligations or liabilities under this Agreement, it being understood that all of Lease
Guarantor’s 

  
 45 

 
obligations and liabilities in respect of the Lease Guaranty shall continue unabated and in full force and effect in accordance with the terms of this Agreement, notwithstanding any such
Assignment (including any deemed Assignment) or Transfer of Ownership Interests, and shall not terminate or be released or reduced in any respect, except solely if and to the extent expressly provided in Section 17.3.5.
 
 11.1.3 Conditions to Assignment. Notwithstanding anything to the contrary in Section 11.1.2, all
Assignments (including any deemed Assignment (it being understood, for the avoidance of doubt, however, that any Leasehold Foreclosure with MLSA Termination shall not be deemed an Assignment for purposes of this
Section 11.1.3)) by Tenant (whether or not Manager’s, Lease Guarantor’s or Landlord’s consent is required or granted pursuant to this Section 11.1) (but excluding the transactions
permitted by Section 11.1.2.3 and Section 11.1.2.4, so long as the applicable provisions of the Lease and/or Section 13.1.1 in respect of any such Assignments are
satisfied) shall be subject to the following conditions: 
 11.1.3.1 Tenant (and/or the Leasehold Lender under the applicable Leasehold
Financing in the case of a Leasehold Foreclosure with MLSA Assumption) shall provide written notice to Manager and Landlord at least thirty (30) days prior to the proposed Assignment (including any deemed Assignment), specifying in reasonable
detail the nature of the Assignment and such additional information as Manager and/or Landlord may reasonably request in order to determine whether the proposed transferee or any controlling Persons (in the case of a Change of Control) (and in each
case any of its or their direct or indirect equity owners that holds at least five percent (5%) of the outstanding equity interests in such proposed transferee or such controlling Person) is a Manager Prohibited Person, a Lease Guarantor Prohibited
Person or a Landlord Prohibited Person, which notice shall be accompanied by the proposed forms of Tenant Assumption Agreement and Assignment Documents, if applicable; 

11.1.3.2 In the case of a direct assignment or transfer of the Lease or Tenant’s interest therein, (a) the assignor shall not be
released from this Agreement unless the assignor is also released in accordance with the terms of the Lease, (b) the assignee or transferee shall assume the obligations of Tenant under this Agreement and shall agree in writing (in a form and
substance reasonably approved by Manager and Landlord prior to the effectuation of such assignment or transfer) to be bound by this Agreement, the Lease and all other Lease/MLSA Related Agreements to which Tenant is a party, from and after the date
of the Assignment (the “Tenant Assumption Agreement”), (c) Tenant shall provide Manager and Landlord with a copy of such Tenant Assumption Agreement, together with copies of all other documents effecting such Assignment (in a form
reasonably approved by Manager and Landlord) (the “Assignment Documents”), within two (2) days following the date of the Assignment, and (d) upon the consummation of such Assignment, this Agreement and all other Lease/MLSA
Related Agreements and, without limitation, all obligations of Tenant (as assumed by such assignee or transferee), Manager, Landlord and Lease Guarantor and any and all other counterparties hereunder and thereunder shall continue in full force and
effect, unless and solely to the extent expressly provided otherwise in this Agreement or in such other Lease/MLSA Related Agreement; 

  
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 11.1.3.3 The assignee or transferee shall have provided evidence reasonably satisfactory to
Manager, Lease Guarantor and Landlord that, without limitation of the requirements of Section 11.1.3.2 hereinabove, (i) the assignee or transferee is a permitted assignee, transferee or equity holder (as the case may
be) pursuant to the terms of the Lease and, in the case of a direct assignment or transfer of the Lease or Tenant’s interest therein, shall have assumed all the rights and obligations of, and become (and, in the case of a Change of Control of
Tenant, the controlling Persons shall cause Tenant to reaffirm all such rights and obligations of) Tenant under the Lease and this Agreement and all other Lease/MLSA Related Agreements to which Tenant is a party in accordance with their respective
terms, concurrently with the effectiveness of the Tenant Assumption Agreement, (ii) such assignee or transferee (in the case of a direct assignment or transfer of the Lease or Tenant’s interest therein) (and if not such a direct assignment
or transfer, Tenant, following the effectuation of such assignment or transfer) shall directly or indirectly own or have at least the same rights to all personal property and other assets and properties (including, without limitation, rights under
licenses and with respect to Intellectual Property) required to lease and operate the Managed Facilities as held by Tenant immediately prior to such assignment and in at least a manner sufficient to permit Manager to manage the Managed Facilities in
accordance with this Agreement from and after such assignment, and (iii) such assignee or transferee shall have received all Gaming Licenses and all other licenses, approvals, permits and other rights (if any) required for such assignee or
transferee to own an interest in or to be (as the case may be) Tenant under the Lease and Tenant under this Agreement, and to directly or indirectly own all the assets and properties required to be owned by it pursuant to the preceding clause
(ii); 
 11.1.3.4 Any and all applicable requirements of the Lease in connection with the proposed Assignment shall be satisfied in
full; and 
 11.1.3.5 The assignee or transferee (in the case of a direct assignment or transfer of this Agreement or Tenant’s
interest herein) or controlling Persons (in the case of a Change of Control), and in each case any of its or their direct or indirect equity owners that holds at least five percent (5%) of the outstanding equity interests in such proposed assignee
or transferee or such controlling Person and, to Tenant’s knowledge, any of its or their Affiliates, is not a Manager Prohibited Person, a Lease Guarantor Prohibited Person or a Landlord Prohibited Person. 

11.1.3.6 In connection with any Assignment (including any deemed Assignment) by Tenant or any Transfer of Ownership Interests in Tenant, the
proposed assignee or transferee and all of the proposed assignee’s or transferee’s officers, directors, and Affiliates (including officers and directors of the Affiliates), to the extent required under applicable Gaming Regulations, shall
be licensed, certified and/or otherwise found suitable by applicable Gaming Authorities and shall have or obtain all required Gaming Licenses to become a party to this Agreement, if applicable. 

  
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 11.2 Assignment by Manager. The Parties agree that: 

11.2.1 Manager Assignments Restricted. Except as otherwise expressly permitted in this Article XI, Manager may
not cause, permit or suffer (x) an Assignment, in whole or in part, directly or indirectly, of any of Manager’s right, title or interest in and to (or of any of its obligations under) this Agreement or (y) any Transfer of Ownership
Interest in Manager, in each case without the express prior written consent of each of Tenant, Lease Guarantor and Landlord. Any Change of Control of Manager shall be deemed an Assignment by Manager for purposes of this
Article XI. Any attempted Assignment (including any attempted deemed Assignment) or Transfer of Ownership Interest in violation of the preceding portion of this Section 11.2.1 shall be void and of
no force or effect and shall constitute an Event of Default by Manager governed by the terms of Section 16.1 of this Agreement. 

11.2.2 Assignment by Manager without Consent. Notwithstanding the provisions of Section 11.2.1, Manager shall
have the right, without Tenant’s, Lease Guarantor’s or Landlord’s consent, to assign its right, title and interest in and to this Agreement to CEC (or, following a Substantial Transfer by CEC pursuant to
Section 11.3.3, the successor Lease Guarantor) or any Affiliate of Manager that is directly or indirectly wholly owned by CEC (or such successor Lease Guarantor); provided that neither the proposed assignee nor any
of its direct or indirect equity owners that holds at least five percent (5%) of the outstanding equity interests in such proposed assignee and, to Manager’s knowledge, any of its or their Affiliates, is a Tenant Prohibited Person, a Lease
Guarantor Prohibited Person or a Landlord Prohibited Person; and provided, further, that (a) Manager shall provide written notice to Tenant and Landlord at least thirty (30) days prior to such proposed Assignment, specifying
in reasonable detail the nature of the Assignment, and such additional information as Tenant and/or Landlord may reasonably request in order to determine whether the proposed assignee is a Tenant Prohibited Person, a Lease Guarantor Prohibited
Person or a Landlord Prohibited Person, together with a copy of the proposed Manager Assumption Document, (b) the assignee shall (x) assume the obligations of Manager under this Agreement (and under all other Lease/MLSA Related Agreements
to which Manager is a party, if any) and (y) agree in each case in writing in form and substance reasonably approved by Tenant and Landlord prior to the effectuation of such Assignment, to be bound by this Agreement and all other Lease/MLSA
Related Agreements to which Manager is a party, if any, from and after the date of such Assignment (the “Manager Assumption Document”), (c) Manager shall provide Tenant and Landlord with a copy of any executed Manager Assumption
Document that is required under the preceding clause (y), together with copies of all other executed documents effecting such Assignment, within ten (10) days following the date of such Assignment, (d) this Agreement, all other
Lease/MLSA Related Agreements and, without limitation, all obligations of Manager (as assumed by the assignee Manager), Tenant, Landlord and Lease Guarantor and any and all other counterparties hereunder and thereunder shall continue in full force
and effect, (e) any and all applicable requirements of Article XXII of the Lease in connection with such Assignment shall be satisfied in full to the extent required thereunder and (f) the proposed assignee and all of the proposed
assignee’s officers, directors, and Affiliates (including officers and directors of the Affiliates), to the extent required under applicable Gaming Regulations, shall be 

  
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licensed, certified and/or otherwise found suitable by applicable Gaming Authorities and shall have or obtain all required Gaming Licenses to become a party to this Agreement, if applicable. 

11.2.3 Permissible Transfers of Interest in Manager. Notwithstanding the provisions of Section 11.2.1, the
Transfer of Ownership Interests in Manager shall be permitted, without Tenant’s, Lease Guarantor’s or Landlord’s consent, to the extent (i) each such transfer is to CEC or any Affiliate of Manager that is directly or indirectly
wholly owned by CEC and, after giving effect to each such transfer, Manager will continue to be directly or indirectly wholly owned by CEC or (ii) such transfer(s) comprise permissible Transfers of Ownership Interests in Lease Guarantor
pursuant to Section 11.3.2 (provided that (x) neither the transferee nor its Affiliates constitute a Tenant Prohibited Person, a Lease Guarantor Prohibited Person or a Landlord Prohibited Person and (y) the
transferee and the transferee’s officers, directors, and Affiliates (including officers and directors of the Affiliates), to the extent required under applicable Gaming Regulations, shall be licensed, certified and/or otherwise found suitable
by applicable Gaming Authorities and shall have or obtain all required Gaming Licenses to become a party to this Agreement, if applicable). 

11.2.4 Effect of Assignment. Notwithstanding anything otherwise set forth in this Agreement, the Assignment by Manager (whether or not
Tenant’s, Lease Guarantor’s or Landlord’s consent is required or granted) or any Transfer of Ownership Interests pursuant to this Section 11.2 or otherwise shall not result in the termination, release or
limitation of any of Lease Guarantor’s obligations or liabilities under this Agreement, it being understood that all of Lease Guarantor’s obligations and liabilities in respect of the Lease Guaranty shall continue unabated and in full
force and effect in accordance with the terms of this Agreement, notwithstanding any such Assignment, and shall not terminate or be released or reduced in any respect, except solely if and to the extent expressly provided in
Section 17.3.5. 
 11.3 Assignment by Lease Guarantor. The Parties agree that: 

11.3.1 Lease Guarantor Assignments Restricted. Except as otherwise expressly permitted in this Article XI,
Lease Guarantor may not cause, permit or suffer (x) an Assignment, in whole or in part, directly or indirectly, of any of Lease Guarantor’s right, title and interest in and to (or of any of its obligations under) this Agreement or
(y) any Transfer of Ownership Interests in Lease Guarantor, in each case without the prior express written consent of Landlord. Any Change of Control of Lease Guarantor shall be deemed an Assignment by Lease Guarantor for purposes of this
Article XI. Any attempted Assignment (including any attempted deemed Assignment) or Transfer of Ownership Interests in violation of the preceding portion of this Section 11.3.1 shall be void and of
no force or effect and shall constitute an Event of Default by Lease Guarantor governed by the terms of Section 16.1. 

11.3.2 Permissible Transfers of Interests in Lease Guarantor. Notwithstanding the provisions of
Section 11.3.1 (and subject to Section 11.3.3), the Transfer of Ownership Interests in Lease Guarantor shall be permitted without 

  
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Landlord’s consent; provided that, if a Change of Control of Lease Guarantor will occur thereby, then such Transfer of Ownership Interests (or series of related Transfers of Ownership
Interests) shall not be permitted unless (a) the qualifications, quality and experience of the management of Lease Guarantor and the quality of the management and operation of the Managed Facilities and the Joliet Managed Facility, taken as a
whole, will, in each case, be generally consistent with or superior to that which existed prior to the applicable transaction(s) giving rise to such Change of Control (it being agreed that Lease Guarantor shall give notice to Landlord of such Change
of Control in accordance with clause (b) below, and if Landlord determines that requirements in this clause (a) will not be satisfied, then such determination shall be resolved pursuant to
Section 34.2 of the Lease; provided that, for purposes of this clause (a), the fifteen (15) day good faith negotiating period contemplated by Section 34.2 of the Lease shall not
apply); (b) Lease Guarantor shall provide written notice to Landlord and Tenant at least thirty (30) days prior to such proposed transaction(s), specifying in reasonable detail the nature of such transaction(s), (c) Manager shall continue to
manage the Managed Facilities pursuant to this Agreement (subject, if applicable, to a concurrent assignment by Manager to the extent permitted under Section 11.2 hereof), (d) this Agreement and all other Lease/MLSA Related
Agreements and, without limitation, all obligations of Lease Guarantor, Tenant, Landlord and Manager and any and all other counterparties hereunder and thereunder shall continue in full force and effect, and (e) all applicable requirements of
Article XXII of the Lease in connection with such proposed transaction(s) shall be satisfied in full. For the avoidance of doubt, (i) in the case of a Change of Control of CEC, CEC shall remain Lease Guarantor, and (ii) without
limitation of the preceding sentence, in all events, all of Lease Guarantor’s obligations and liabilities in respect of the Lease Guaranty shall continue unabated and in full force and effect in accordance with the terms of this Agreement and
shall not terminate or be released or reduced in any respect, except solely if and to the extent expressly provided in Section 17.3.5. 

11.3.3 Assignment by Lease Guarantor without Consent. Notwithstanding the provisions of
Section 11.3.1, Lease Guarantor shall have the right, without Landlord’s consent, to effect an Assignment of this Agreement in connection with a Substantial Transfer by CEC; provided that (a) the Board of
Directors of Lease Guarantor shall have determined that the qualifications, quality and experience of the management of Lease Guarantor and the quality of the management and operation of the Managed Facilities and the Joliet Managed Facility, taken
as a whole, will, in each case, be generally consistent with or superior to that which existed prior to the applicable transaction(s) giving rise to such Assignment (it being agreed that Lease Guarantor shall give notice to Landlord of such proposed
Assignment in accordance with clause (c) below, and if Landlord determines that requirements in this clause (a) will not be satisfied, then such determination shall be resolved pursuant to
Section 34.2 of the Lease; provided that, for purposes of this clause (a), the fifteen (15) day good faith negotiating period contemplated by Section 34.2 of the Lease shall not
apply), (b) the Board of Directors of Lease Guarantor shall have determined that, following the occurrence of such Substantial Transfer, the successor Lease Guarantor shall be sufficiently creditworthy, and shall have sufficient wherewithal and
ability, so as to be able to assume and satisfy all obligations of Lease Guarantor in respect of the Lease Guaranty, (c) Lease Guarantor shall provide written notice to Landlord and Tenant at least thirty (30) days

  
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prior to the proposed Assignment, specifying in reasonable detail the nature of the Assignment, (d) (i) the assignee or transferee shall be the owner, directly or indirectly, of all of the
direct and indirect assets of CEC (other than assets that are, in the aggregate, de minimis) and (ii) the assignee or transferee shall assume the obligations of Lease Guarantor under this Agreement (and all applicable Lease/MLSA Related
Agreements) and shall agree in an agreement in a form reasonably acceptable to Landlord and Tenant to be bound by this Agreement (and all applicable Lease/MLSA Related Agreements) from and after the date of the Assignment (the “Lease
Guarantor Assumption Agreement”) (a copy of any proposed Lease Guarantor Assumption Agreement shall be furnished to Landlord for review and approval no less than thirty (30) days prior to the proposed effectuation thereof), and Lease
Guarantor shall provide Landlord and Tenant with a copy of such agreement, together with copies of all other documents effecting such Assignment, within ten (10) days following the date of such Assignment, (e) Manager shall continue to
manage the Managed Facilities pursuant to this Agreement (subject, if applicable, to a concurrent assignment by Manager to the extent permitted under Section 11.2 hereof), and (f) this Agreement and all other
Lease/MLSA Related Agreements and, without limitation, all obligations of Lease Guarantor (as assumed by the assignee Lease Guarantor), Tenant, Landlord and Manager and any and all other counterparties hereunder and thereunder shall continue in full
force and effect. 
 11.4 Assignment by Landlord. 

11.4.1.1 General. The Parties agree that this Agreement shall be binding upon, and inure to the benefit of, any successor or permitted
assignee of Landlord under the Lease; provided that the assignee shall assume the obligations of Landlord under this Agreement and shall agree in writing in a form reasonably acceptable to Tenant, Manager and Lease Guarantor to be bound by
this Agreement from and after the date of the Assignment. To the extent Landlord is required, pursuant to the Lease, to notify Tenant of any Change of Control or other Assignment of Landlord, Landlord shall give concurrent notice thereof to Manager
and Lease Guarantor (and, in all events, Landlord shall give notice to all Parties hereto of any proposed name change of Landlord, or any proposed direct transfer of the Leased Property not later than thirty (30) days prior thereto). Any
Change of Control or other Assignment of Landlord shall not be permitted unless (a) any and all applicable requirements of the Lease in connection with such proposed Assignment shall be satisfied in full, (b) the assignee or transferee (in
the case of a direct assignment or transfer of this Agreement or Landlord’s interest herein) or controlling Persons (in the case of a Change of Control), and in each case any of its or their direct or indirect equity owners that holds at least
five percent (5%) of the outstanding equity interests in such proposed assignee or transferee or such controlling Person and, to Landlord’s knowledge, any of its or their Affiliates, is not a Manager Prohibited Person, a Lease Guarantor
Prohibited Person or a Tenant Prohibited Person, and (c) the proposed assignee or transferee and all of the proposed assignee’s or transferee’s officers, directors, and Affiliates (including officers and directors of the Affiliates),
to the extent required under applicable Gaming Regulations, shall be licensed, certified and/or otherwise found suitable by applicable Gaming Authorities and shall have or obtain all required Gaming Licenses to become a party to this Agreement, if
applicable. Notwithstanding the foregoing, in the event a portion of the Leased Property 

  
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is sold by Landlord pursuant to the terms of the Lease and such portion of the Leased Property ceases to be subject to the terms of the Lease and, in connection therewith, the Parties enter into
a new Severed Lease with respect to the applicable successor landlord as contemplated by Section 16.4 of this Agreement, then in such event the successor landlord shall not become a party to this Agreement pursuant to this
Section 11.4 and in lieu thereof (i) this Agreement shall terminate with respect to such portion of the Leased Property so disposed and (ii) such successor landlord shall instead enter into a new Severed MLSA with
the Parties pursuant to and to the extent contemplated by Section 16.4 of this Agreement. 
 11.4.1.2
Assignments to Tenant Competitor. In the event that, and so long as, Landlord with respect to any Leased Property is a Tenant Competitor, then, notwithstanding anything herein to the contrary, the following shall apply: 

(i) Neither Tenant nor Manager shall be required to deliver any information required to be delivered to Landlord pursuant to
this Agreement to the extent the same would give Landlord a “competitive” advantage with respect to markets in which Landlord and Tenant or CEC might be competing at any time (it being understood that Landlord shall retain audit rights
with respect to such information to the extent required to confirm Tenant’s or Manager’s, as applicable, compliance with the terms of this Agreement) (and Landlord shall be permitted to comply with Securities Exchange Commission, Internal
Revenue Service and other legal and regulatory requirements with regard to such information); provided that appropriate measures are in place to ensure that only Landlord’s auditors (which for this purpose shall be a “big four”
firm designated by Landlord) and attorneys (as reasonably approved by Tenant or Manager, as applicable) (and not Landlord or any Affiliates (as defined in the Lease) of Landlord or any direct or indirect parent company of Landlord or any Affiliate
(as defined in the Lease) of Landlord) are provided access to such information, or to provide information that is subject to the quality assurance immunity or is subject to attorney-client privilege or the attorney work product doctrine. 

(ii) Without limitation of the other provisions of Section 2.1.4, Landlord’s consent shall not be required
under clause (b) of Section 2.1.4. 
 (iii) With respect to all consent, approval and
decision-making rights granted to Landlord under this Agreement relating to competitively sensitive matters pertaining to the management, use or operation of the Managed Facilities (other than any right of Landlord to grant waivers and amend or
modify any of the terms of this Agreement), Landlord shall establish an independent committee to evaluate, negotiate and approve such matters, independent from and without interference from Landlord’s management or Board of Directors. Any
dispute over whether a particular decision shall be determined by such independent committee shall be resolved pursuant to Section 34.2 of the Lease. 

The Parties (other than Landlord) hereby acknowledge and agree that (x) as of the date hereof, Joliet Partner is a minority interest holder in the Joliet
Landlord and does not 

  
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Control the Joliet Landlord; and (y) for so long as the circumstances in clause (x) continue and Joliet Partner continues to own no more than twenty percent (20%) of the interest
in the Joliet Landlord, neither Landlord nor any of its Affiliates shall be deemed to be a Tenant Competitor solely as a result of the circumstances in clause (x). 

11.5 Acknowledgement of Assignment. The Parties agree that, notwithstanding anything to the contrary contained herein, with respect to
any proposed Assignment (including any attempted deemed Assignment) or Transfer of Ownership Interests requiring consent under this Article XI, the proposed transferring Party shall, in addition to (and without limitation
of) any applicable notification requirements otherwise set forth in this Article XI, prior to effectuating any such Assignment (including any deemed Assignment) or Transfer of Ownership Interests, reasonably promptly following the request of
any one or more of the non-assigning Parties, provide a written acknowledgement to such requesting non-assigning Party(ies) confirming that such proposed Assignment (or
deemed Assignment) or Transfer of Ownership Interests complies with the provisions of this Article XI and is permitted hereunder and such acknowledgment shall be accompanied by the provision of such information (to the
extent in the proposed transferring Party’s possession or reasonable control, subject to customary and reasonable confidentiality restrictions in connection therewith) as may reasonably be necessary to demonstrate to each such requesting
Party’s satisfaction that such proposed Assignment (or deemed Assignment) or Transfer of Ownership Interests complies with the provisions of this Article XI. 

11.6 Approvals. The Parties agree that, to the extent necessary, all Assignments (including deemed Assignments) or Transfer of
Ownership Interests will be subject to the requirements of the Gaming Authorities, which may include prior approval of such Assignments (including any deemed Assignment) or Transfer of Ownership Interests, and any attempted Assignment (including any
attempted deemed Assignment) or Transfer of Ownership Interests in violation of such requirements shall be void and of no force or effect. 

11.7 Merger of CEOC. The Parties acknowledge that, immediately following the execution of this Agreement, Caesars Entertainment
Operating Company, Inc., a Delaware corporation, will merge into CEOC, LLC. Notwithstanding anything herein to the contrary, each of Landlord, Manager and Lease Guarantor consents to such merger. 

ARTICLE XII 
 INSURANCE,
BONDING AND INDEMNIFICATION 
 12.1 Tenant Insurance and Bonding Requirements. 

12.1.1 Insurance Policies and Bonding Requirements. 

12.1.1.1 Manager, at Tenant’s expense (except to the extent such expenses are expressly classified as Operating Expenses), in accordance
with the Annual Budget, shall procure and maintain all insurance policies required under Article XIII of the Lease (the “Lease Insurance Requirements”). 

  
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 12.1.1.2 Manager, at Tenant’s expense, in accordance with the Annual Budget, shall have the
power and authority to procure and deliver to the applicable Gaming Authorities all bonding instruments required by the States where the Managed Facilities are located. 

12.1.2 Evidence of Insurance. Tenant (for insurance policies obtained by Tenant through third-party insurers) shall provide to Manager
and Manager (for insurance policies obtained by Manager through the Insurance Program or other vendors) shall provide to Tenant certificates or other reasonably satisfactory insurance evidence confirming that the insurance policies comply with the
Insurance Requirements. In addition, upon a Tenant’s or Manager’s request, the other Party promptly shall provide to the requesting Party a schedule of insurance obtained by such Party, listing the insurance policy numbers, the names of
the insurers, the names of the Persons insured, the amounts of coverage, the expiration dates and the risks covered thereunder. 
 12.1.3
Payment of Premiums. For all insurance policies contemplated by this Section 12.1, Manager shall have the right to pay premiums using funds from the Operating Account. For the avoidance of doubt, any additional
insurance policies obtained by Tenant or Manager that are not contemplated by this Section 12.1 or otherwise approved by Tenant and Manager, shall not be funded from the Operating Account. 

12.1.4 Investigation of Claims and Reports. Manager shall promptly investigate and, as soon as reasonably practicable, make a full
written report to Tenant regarding all material accidents or claims for material damage relating to the ownership, operation and maintenance of the Managed Facilities and the estimated liability or cost of repair thereof, and shall prepare, for the
approval of Tenant, any and all reports required by any insurance carrier in connection therewith. 
 12.1.5 Reliance on Tenant’s
Advisors. Tenant acknowledges that neither Manager nor any insurance broker that Manager or its Affiliates may retain makes any representation, warranty or guaranty whatsoever regarding: (a) the advisability or sufficiency of the insurance
required or obtained under this Agreement; (b) whether the insurance made available under the Insurance Program maintained by Manager or its Affiliates is sufficient to protect Tenant, the Managed Facilities and its Operations against all
liability, damage, loss, cost or expense that might be incurred; or (c) any other insurance that Tenant should consider for the protection of Tenant, the Managed Facilities and its Operations, and Tenant agrees to rely exclusively on its own
insurance advisors with respect to all insurance matters. 
 12.1.6 Relationship to Lease. Without limiting
Section 2.5 in any manner, for the avoidance of doubt, the Parties agree that nothing contained in this Agreement, including this Article XII and Article XIV hereof, is intended or shall be construed to limit,
vitiate or supersede the Lease Insurance Requirements. No 

  
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modification may be made to the Lease Insurance Requirements except in accordance with the provisions, terms and conditions of the Lease. Without limitation of the preceding portion of this
Section 12.1.6, Section 2.5 or Section 18.2.3 in any manner, and for the avoidance of doubt, the Parties acknowledge that any determination made by an Expert with respect
to any dispute under Section 12.1.5 shall not modify the Lease Insurance Requirements and without limitation, to the extent Landlord believes any noncompliance with the Lease exists, the provisions, terms and conditions of
the Lease shall govern with respect thereto. 
 12.2 Waiver of Liability. SOLELY AS BETWEEN TENANT AND MANAGER, AS LONG AS A PARTY
AND ANY AFFILIATES REQUESTED BY SUCH PARTY ARE A NAMED INSURED OR ADDITIONAL INSURED UNDER THE OTHER PARTY’S INSURANCE POLICIES, OR THE POLICIES OTHERWISE PERMIT IF SUCH PARTY OR ITS AFFILIATES ARE NOT SO NAMED, SUCH PARTY HEREBY RELEASES THE
OTHER PARTY, AND ITS AFFILIATES, AND ITS AND THEIR TRUSTEES, BENEFICIARIES, DIRECTORS, OFFICERS, EMPLOYEES AND AGENTS, AND THE SUCCESSORS AND ASSIGNS OF EACH OF THE FOREGOING, FROM ANY AND ALL LIABILITY FOR MONETARY RELIEF, DAMAGE, LOSS, COST OR
EXPENSE INCURRED BY THE RELEASING PARTY, WHETHER OR NOT DUE TO THE NEGLIGENT OR OTHER ACTS OR OMISSIONS OF THE PERSONS SO RELEASED TO THE EXTENT SUCH LIABILITY, DAMAGE, LOSS, COST OR EXPENSE IS COVERED BY THE INSURANCE POLICIES OF THE RELEASING
PARTY, BUT (OTHER THAN AS PROVIDED IN ARTICLE XIV) ONLY TO THE EXTENT OF INSURANCE PROCEEDS RECEIVED. FOR AVOIDANCE OF DOUBT, THE PARTIES ACKNOWLEDGE THAT THE PRECEDING PORTION OF THIS SECTION 12.2 SHALL NOT BE DEEMED TO VITIATE OR
SUPERSEDE ANY OBLIGATIONS OF (x) LEASE GUARANTOR IN RESPECT OF THE GUARANTEED OBLIGATIONS OR OTHERWISE HEREUNDER AND/OR (y) TENANT UNDER THE LEASE, IN EACH CASE IN ACCORDANCE WITH THE TERMS HEREOF AND THEREOF. 

12.3 Indemnification. 

12.3.1 Indemnification by Tenant. Subject to Sections 12.3.3, 12.3.4 and 18.5.5, Tenant shall
defend, indemnify and hold harmless Manager and its Affiliates, and each of their respective shareholders, members, partners, trustees, beneficiaries, directors, officers, employees and agents, and the successors and assigns of each of the foregoing
(collectively, the “Manager Indemnified Parties”) for, from and against any and all Claims, other than Claims that are within the scope of Manager’s indemnification pursuant to Section 12.3.2. Nothing
in this Section 12.3 shall be deemed to limit Tenant’s right to pursue its contractual damage remedies against Manager with respect to amounts paid by Tenant to one (1) or more other Persons in connection with any
Claim caused by an Event of Default by Manager (it being further understood that the provisions of this Section 12.3 shall not be deemed to modify the provisions of Section 16.1 regarding the
establishment of an Event of Default by Manager, including any provisions of Section 16.1 regarding notice of cure of any default that would, with the giving of notice or the passage of time, become an Event of Default).
Manager shall promptly provide Tenant with written notice of any Claim that is reasonably likely to result in any indemnification by Tenant. 

  
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 12.3.2 Indemnification by Manager. Subject to Sections 12.3.3,
12.3.4 and 18.5.5, Manager shall defend, indemnify and hold harmless Tenant and its Affiliates, and each of their respective shareholders, members, partners, trustees, beneficiaries, directors, officers, employees and agents, and the
successors and assigns of each of the foregoing (collectively, the “Tenant Indemnified Parties”) for, from and against any and all (a) Claims that any Tenant Indemnified Party or Parties may incur, become responsible for or pay
out to the extent caused by the gross negligence or willful misconduct of Manager and (b) any uninsured loss incurred by Tenant due to the commission by any Senior Executive Personnel or Corporate Personnel of any act of fraud, embezzlement,
misappropriation or similar act of malfeasance with respect to the Managed Facilities. 
 12.3.3 Insurance Coverage. Notwithstanding
anything to the contrary in this Section 12.3, Tenant and Manager shall look first to the appropriate insurance coverages in effect pursuant to this Agreement prior to seeking indemnification under this
Section 12.3 in the event any claim or liability occurs as a result of injury to persons or damage to property, regardless of the cause of such claim or liability; provided that if the insurance carrier denies
coverage or “reserves rights” as to coverage, then the Indemnified Parties shall have the right to seek indemnification, without first looking to such insurance coverage. In addition, nothing contained in this
Section 12.3 shall in any way affect the releases set forth in Section 12.2. 
 12.3.4
Indemnification Procedures. The Indemnifying Party shall have the right to assume the defense of any Claim with respect to which the Indemnified Party is entitled to indemnification hereunder. If the Indemnifying Party assumes such defense,
(a) such defense shall be conducted by counsel selected by the Indemnifying Party and approved by the Indemnified Party, such approval not to be unreasonably withheld, conditioned or delayed (provided that the Indemnified Party’s
approval shall not be required with respect to counsel designated by the Indemnifying Party’s insurer); (b) so long as the Indemnifying Party is conducting such defense with reasonable diligence, the Indemnifying Party shall have the right
to control said defense and shall not be required to pay the fees or disbursements of any counsel engaged by the Indemnified Party except if a material conflict of interest exists between the Indemnified Party and the Indemnifying Party with respect
to such Claim or defense; and (c) the Indemnifying Party shall have the right, without the consent of the Indemnified Party, to settle such Claim, but only if such settlement involves only the payment of money, the Indemnifying Party pays all
amounts due in connection with or by reason of such settlement and, as part thereof, the Indemnified Party is unconditionally released from all liability in respect of such Claim. The Indemnified Party shall have the right to participate in the
defense of such Claim being defended by the Indemnifying Party at the expense of the Indemnified Party, but the Indemnifying Party shall have the right to control such defense (other than in the event of a material conflict of interest between the
parties with respect to such Claim or defense). In no event shall the Indemnified Party (A) settle any Claim without the consent of the Indemnifying Party so long as the Indemnifying Party is conducting the

  
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defense thereof in accordance with this Agreement or (B) if a Claim is covered by the Indemnifying Party’s insurance, knowingly take or omit to take any action that would cause the
insurer not to defend such Claim or to disclaim liability in respect thereof. 
 12.3.5 Survival. This
Section 12.3 shall survive any expiration or termination of this Agreement. 
 ARTICLE XIII 

LEASEHOLD FINANCING 
 13.1
Leasehold Mortgages; Collateral Assignments; Non-Disturbance; Leasehold Foreclosure. The Parties agree that: 

13.1.1 Leasehold Financing. Subject to Article XI hereof and the applicable provisions of the Lease, including
Article XVII and Article XXII of the Lease, Tenant shall have the right to grant, in respect of Tenant’s leasehold estate under the Lease, other property of Tenant and/or any direct or indirect Ownership Interests in Tenant, a
Leasehold Mortgage or Security Interest to a Leasehold Lender in connection with any Leasehold Financing, and to assign to any Leasehold Lender as collateral security for any Leasehold Financing, all of Tenant’s right, title and interest in and
to this Agreement. Promptly following execution of any such Leasehold Financing Documents, Tenant shall provide Manager and Lease Guarantor a true and complete copy of all such Leasehold Financing Documents. 

13.1.2 Foreclosure by Leasehold Lender. If any Leasehold Financing is secured by a valid and enforceable lien on the leasehold estate
under the Lease or on the direct or indirect Ownership Interests in Tenant, whether by mortgage, equity pledge or otherwise, and there is any proposed Foreclosure by Leasehold Lender thereunder, such Leasehold Lender shall, in connection with and as
a condition precedent to consummating any Foreclosure by Leasehold Lender, irrevocably elect, by written notice to Tenant and Lease Guarantor (with a copy to Landlord and Manager), one (and only one) of the following: 

(a) Leasehold Foreclosure with MLSA Termination Election: to terminate this Agreement and, in connection with such
termination, to comply in all respects with all applicable provisions of the Lease, including Section 22.2(i)(1)(A) and Section 22.2(i)(2) through (5) thereof, and, without limitation, to cause (x) a replacement lease
guarantor that is a Qualified Replacement Guarantor (as defined in the Lease) to provide a Replacement Guaranty (as defined in the Lease) of the Lease and (y) the Managed Facilities to be managed pursuant to a Replacement Management Agreement
(as defined in the Lease) by a Qualified Replacement Manager (as defined in the Lease) or another manager that is otherwise permitted by Section 22.2(i)(1)(A)(z) of the Lease, in each case in accordance with Section 22.2(i)(1)(A) of
the Lease (and the obligations and liabilities of Lease Guarantor in respect of the Lease Guaranty shall be determined as set forth in Section 17.3.5.2); or 

  
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 (b) Leasehold Foreclosure with MLSA Assumption Election: to retain Manager
(or any replacement manager appointed in accordance with Section 16.5.2 following a Termination for Cause in accordance with this Agreement) as manager of the Managed Facilities pursuant to the terms of this Agreement (or a
replacement management agreement previously approved in writing by Landlord) and, in connection therewith, to comply in all respects with all applicable provisions of the Lease, including Section 22.2(i)(1)(B) and Section 22.2(i)(2)
through (5) of the Lease, and, without limitation, to keep this Agreement (or such replacement management agreement previously approved in writing by Landlord) in full force and effect in accordance with its terms (and the Lease will
continue to be guaranteed by Lease Guarantor in accordance with the terms of this Agreement (including Section 17.3.1.8, Section 17.3.1.9 and Section 17.3.1.10 hereof) and
all of Lease Guarantor’s obligations and liabilities under this Agreement in respect of the Lease Guaranty shall continue unabated and in full force and effect). 

With respect to any Leasehold Foreclosure with MLSA Termination, (i) the effective date of such termination of this Agreement shall be the date upon
which the applicable Lease Foreclosure Transaction shall have been effective in accordance with Section 22.2(i) of the Lease (and, without limitation, all applicable provisions of the Lease shall have been complied with in all respects,
including Section 22.2(i)(1)(A) and Section 22.2(i)(2) through (5) of the Lease, including execution and delivery of a Replacement Guaranty by a Qualified Replacement Guarantor), and (ii) this Agreement shall be deemed
terminated pursuant to Section 16.2.6 of this Agreement as of such effective date and, for the avoidance of doubt, the provisions of Article XVI, including Section 16.3,
shall apply with respect to such termination from and after such effective date. 
 Without limitation of the foregoing and, for the avoidance of doubt, it
is acknowledged and agreed that the prosecution by any Leasehold Lender of a Foreclosure by Leasehold Lender shall be subject to, and performed in (and conditioned upon), compliance with, all applicable provisions, terms and conditions of the Lease,
including Article XVII thereof. 
 13.2 Default Notice to Leasehold Lender. Manager or Landlord, upon providing Tenant any
notice of default under this Agreement, shall at the same time provide a copy of such notice to every Leasehold Lender that has been properly disclosed to Manager or Landlord, as applicable, pursuant to Section 13.1. From
and after the date such notice has been sent to a Leasehold Lender, such Leasehold Lender shall have the same period, with respect to its remedying any default or acts or omissions which are the subject matter of such notice or causing the same to
be remedied, as is given Tenant after the giving of such notice to Tenant, to remedy, commence remedying or cause to be remedied the defaults or acts or omissions which are the subject matter of such notice specified in any such notice. Manager or
Landlord, as applicable, shall accept such performance by or at the instigation of such Leasehold Lender as if the same had been done by Tenant. Tenant authorizes each such Leasehold Lender (to the extent such action is authorized under the
applicable loan documents to which it acts as a lender, noteholder, investor, agent, trustee or representative) to take any such action at such Leasehold Lender’s option and does hereby authorize entry upon the Managed Facilities by Leasehold
Lender for such purpose. 

  
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 13.3 Lender’s Right of Access. Upon reasonable advance notice from a
Leasehold Lender or Landlord’s Lender (which notice may be given orally in connection with an emergency or upon the occurrence of an event of default under any Leasehold Financing Documents or Landlord Financing Documents, as the case may be),
Manager shall permit and cooperate with such Leasehold Lender or Landlord’s Lender (as applicable) and their respective agents and representatives to enter any part of the Managed Facilities, except for those parts of the Managed Facilities as
to which access is restricted by Applicable Law, at any reasonable time for the purposes of examining or inspecting the Managed Facilities, or examining or copying the books and records of the Managed Facilities; provided that: (a) any
expenses incurred in connection with such activities shall be Operating Expenses of the Managed Facilities; and (b) Tenant shall use commercially reasonable efforts (including the inclusion of an appropriate confidentiality provision in the
Leasehold Financing Documents) to cause such Leasehold Lender, and Landlord shall use commercially reasonable efforts (including the inclusion of an appropriate confidentiality provision in the Landlord Financing Documents) to cause such
Landlord’s Lender, to agree to treat as confidential any information such Leasehold Lender or Landlord’s Lender, as applicable, obtains from examining the books and records of the Managed Facilities provided by Tenant to Manager, including
the Annual Budget. Manager acknowledges that a Leasehold Lender or Landlord’s Lender may disclose such information to the same extent and subject to the same restrictions as are applicable to Tenant with respect to Manager Confidential
Information under Article VIII of this Agreement (including to any actual or potential landlords (including Landlord and actual or potential purchasers of the relevant Landlord Mortgage or any interest therein)). 

13.4 Disclosure of Mortgages and Security Interests. Tenant represents and warrants to the other Parties hereto that as of the
date of this Agreement, (i) except for Leasehold Mortgage(s) in favor of the Leasehold Lender(s) under Tenant’s Initial Financing (as such term is defined in the Lease), there is no Leasehold Mortgage encumbering Tenant’s interest in
any of the Managed Facilities, the Leased Property or the Lease or any portion thereof or interest therein and (ii) except for Security Interests in favor of the Leasehold Lender(s) under Tenant’s Initial Financing (as such term is defined
in the Lease), there is no Security Interest encumbering any direct or indirect interests in Tenant that is held by a Person that constitutes a Permitted Leasehold Mortgagee (as defined in the Lease). Tenant shall provide to Manager a true and
complete copy of any new proposed Leasehold Financing Documents for Manager’s review no less than thirty (30) days before the execution of such new Leasehold Financing Documents (or such lesser time acceptable to Manager). Promptly
following execution of such new Leasehold Financing Documents, Tenant shall provide Manager a true and complete copy of all such new Leasehold Financing Documents. 

13.5 Estoppel Certificates. Upon written request from Tenant, Landlord or any Leasehold Lender or Landlord’s Lender at any time
during the Term, Manager shall issue, within no less than twenty (20) days after Manager’s receipt of such request, an estoppel certificate (or a comfort letter or other documents as may be reasonably

  
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requested): (a) certifying that this Agreement has not been modified and is in full force and effect (or, if there have been modifications, specifying the modifications and that the same is
in full force and effect as modified); (b) stating whether, to the knowledge of the signatory of such certificate (which signatory shall be an appropriate officer of the issuer of such certificate, with knowledge of the subject matter), any
default by the attesting Party (or, to the attesting Party’s knowledge, any other Party) exists, and if so, specifying each such default; and (c) including such other certifications or statements as may be reasonably requested by the
requesting Party or lender. Upon written request from Manager, Landlord or Landlord’s Lender at any time during the Term, Tenant shall provide (and, upon request, shall use commercially reasonable efforts to cause Leasehold Lender to provide) a
similar estoppel certificate in a similar timeframe. Upon written request from Manager, Lease Guarantor, Tenant or Leasehold Lender at any time during the Term, Landlord shall provide (and, upon request, shall use commercially reasonable efforts to
cause Landlord’s Lender and/or any other ground lessor (with respect to any ground lease) to provide) a similar estoppel certificate in a similar timeframe. Upon written request from Landlord, Tenant, Leasehold Lender or Landlord’s Lender
at any time during the term, Lease Guarantor shall provide a similar estoppel certificate in a similar timeframe. 
 13.6
Tenant’s Lease Obligations. 
 13.6.1 [Reserved] 

13.6.2 Without limiting Section 2.5 in any manner, for the avoidance of doubt, the Parties agree that
(a) nothing in this Article XIII is intended, nor shall it be construed, to limit, vitiate or supersede any of the provisions, terms and conditions of the Lease, and (b) without limitation of the preceding clause (a), nothing
contained in this Agreement, including this Article XIII hereof, is intended, nor shall it be construed, to limit, vitiate or supersede the provisions, terms and conditions of the Lease pertaining to Leasehold Financings, including Article
XVII of the Lease. 
 ARTICLE XIV 

BUSINESS INTERRUPTION 

14.1 Business Interruption. At all times during the Term, Manager shall assist Tenant in procuring, at Tenant’s expense, and
Tenant shall maintain Business Interruption Insurance for the Managed Facilities in accordance with the Lease Insurance Requirements. If any event, including a Force Majeure Event, occurs that results in an interruption in the Operation of one of
more of the Managed Facilities (a “Business Interruption Event”), Manager shall use commercially reasonable efforts to reduce Operating Expenses, Centralized Services Charges and Reimbursable Expenses to levels commensurate with the
levels of reduced revenues and business activity. All Centralized Service Charges and Reimbursable Expenses actually incurred during the period of the Business Interruption Event shall continue to be payable in accordance with the provisions this
Agreement, regardless of whether there are sufficient Business Interruption Insurance proceeds to cover such amounts. 

  
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 14.2 Proceeds of Business Interruption Insurance. The net proceeds of the Business
Interruption Insurance maintained in accordance with Section 14.1 (after the application of any deductible) shall be deposited in the Operating Account and used by Manager in the same manner as funds generated from the
Operation of the Managed Facilities are used by Manager in accordance with this Agreement, including the payment of Operating Expenses, the Centralized Services Charges and Managed Facilities Personnel Costs and all other Operating Expenses as
provided in Section 14.1. 
 ARTICLE XV 

CASUALTY OR CONDEMNATION 

15.1 Casualty. 

15.1.1 Notices. If one or more of the Managed Facilities is damaged by a Casualty, Manager shall promptly notify
Tenant. 
 15.1.2 Restoration or Termination in Connection with a Casualty. If one or more of the Managed Facilities
are damaged or destroyed by a Casualty, then: 
 (i) with respect to any portion of the Leased Property that, pursuant to
Section 14.2(a) of the Lease, ceases to be subject to the Lease as a result of a Casualty occurring during the final two (2) years of the Lease, Manager’s management obligations under this Agreement shall terminate with respect to such
portion of the Leased Property effective as of such date of Casualty, but this Agreement shall otherwise remain in full force and effect in accordance with its terms (with Manager’s obligations hereunder so reduced, mutatis mutandis, to reflect
the removal of such portion of the Leased Property from the terms of the Lease); 
 (ii) if, pursuant to Section
14.2(a) of the Lease, the Lease is terminated as to the entire Leased Property for each of the Managed Facilities as a result of a Casualty affecting each of the Managed Facilities occurring during the final two (2) years of the Lease, then
this Agreement shall terminate effective as of such date of termination of the Lease; and 
 (iii) if the business operations
at the Managed Facilities for which the Lease Agreement and this Agreement remain in effect following a Casualty are substantially, adversely impaired as a result thereof, then a Force Majeure Event shall be deemed to exist as applicable in respect
of Manager’s management obligations hereunder with respect to such Managed Facilities while such condition exists. 
 15.2
Condemnation. 
 15.2.1 Notices. If any Party receives notice of any actual, pending or contemplated Condemnation or Taking (or other
action in lieu thereof) of all or a portion of the Leased Property, such Party shall promptly notify each other Party thereof. 

  
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 15.2.2 Condemnation. If the Leased Property is impacted by a Condemnation or a Taking,
then: 
 (i) with respect to any portion of the Leased Property that, pursuant to Section 15.1(b) of the Lease, ceases to be
subject to the Lease as a result of a Condemnation or a Taking, Manager’s management obligations under this Agreement shall terminate with respect to such portion of the Leased Property effective as of such date of Condemnation or Taking, but
this Agreement shall otherwise remain in full force and effect in accordance with its terms (with Manager’s obligations hereunder so reduced, mutatis mutandis, to reflect the removal of such portion of the Leased Property from the terms of the
Lease); 
 (ii) if, pursuant to Section 15.1(a) or Section 15.1(b) of the Lease, the Lease is terminated as to
the entire Leased Property for each of the Managed Facilities as a result of a Condemnation or a Taking affecting each of the Managed Facilities in accordance with its terms, then this Agreement shall terminate effective as of such date of
termination of the Lease; and 
 (iii) if the business operations at the Managed Facilities for which the Lease Agreement and
this Agreement remain in effect following a Condemnation or Taking are substantially adversely impacted as a result thereof, then a Force Majeure Event shall be deemed to exist as applicable in respect of Manager’s management functions
hereunder with respect to such Managed Facilities while such condition exists. 
 ARTICLE XVI 

DEFAULTS AND TERMINATIONS 

16.1 Events of Default. 

16.1.1 Tenant MLSA Events of Default. Each of the following actions and events shall be deemed a “Tenant MLSA Event of
Default”: 
 16.1.1.1 a failure by Tenant within the time periods specified in this Agreement to pay the amount due and payable
under this Agreement to Manager or its Affiliates for the Reimbursable Expenses or Centralized Services Charges and that is not cured within sixty (60) days after notice to Tenant specifying such failure; provided that in the event
sufficient funds belonging to SPE Tenant or generated by the Managed Facilities and held by SPE Tenant or any Tenant are available in the Operating Account to pay such amounts then due and Manager has the right to withdraw, transfer or apply such
funds to the payment of such amounts then due, then such failure of Tenant to pay such amount shall not be an Event of Default; 
 16.1.1.2
except as set forth in Section 16.1.1.1, a failure by Tenant to pay any amount of money to Manager when due and payable under this Agreement that is not cured within sixty (60) days after notice to Tenant; 

  
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 16.1.1.3 except as set forth in Section 16.1.1.1 or
Section 16.1.1.2, a failure by Tenant to perform or comply with any of the covenants, duties or obligations set forth in this Agreement to be performed by Tenant that is not cured within thirty (30) days following
notice of such default from Manager to Tenant; provided that if: (a) the default is not susceptible of cure within a thirty (30) day period; (b) the default cannot be cured solely by the payment of a sum of money; and
(c) the default would not expose Manager (or Landlord) to an imminent and material risk of criminal liability or of material damage to its business reputation, the thirty (30) day cure period shall be extended for such time as is necessary
(but in no event longer than ninety (90) days or, if such default is in the process of being cured to the satisfaction of an applicable Gaming Authority, such longer time as is prescribed by such Gaming Authority) to cure the default so long as
Tenant commences to cure the default within such thirty (30) day period and thereafter proceeds with reasonable diligence to complete such cure; 

16.1.1.4 (i) a general assignment by Tenant for the benefit of its creditors, or any similar arrangement with its creditors by Tenant;
(ii) the entry of a judgment of insolvency against Tenant that is not stayed, vacated or set aside within sixty (60) days of entry thereof; (iii) the filing by Tenant of a voluntary petition for relief under applicable bankruptcy,
insolvency, or similar debtor relief laws; (iv) the filing of an involuntary petition for relief under applicable bankruptcy, insolvency or similar debtor relief laws by any Person against Tenant which either (x) is consented to by Tenant,
or (y) is not stayed, vacated or set aside within sixty (60) days after the filing thereof; (v) the appointment (or the filing of a petition or application for appointment) of a receiver, custodian, trustee, conservator, or liquidator
to oversee all or any substantial part of Tenant’s assets or the conduct of its business, in each case that is not stayed, vacated or set aside within sixty (60) days of the occurrence thereof; (vi) any action by Tenant for
dissolution of its operations; or (vii) any other similar proceedings in any relevant jurisdiction affecting Tenant that is not stayed, vacated or set aside within sixty (60) days of the commencement thereof; and 

16.1.1.5 the occurrence of the Tenant MLSA Event of Default described in the last sentence of this
Section 16.1.1.5. If, at any time during the Term, Manager cannot Operate the Managed Facilities in all material respects in accordance with the Operating Standard and Operating Limitations as provided herein, then Manager
shall promptly deliver notice thereof to Landlord and Tenant (and Landlord and Tenant shall each be entitled to exercise their respective rights and remedies as and to the extent applicable thereto). If Manager determines in the exercise of its good
faith judgment that the proximate cause thereof is an Operating Deficiency Cause, then (x) Manager shall promptly deliver notice thereof to Landlord, and (y) Manager or Landlord shall be entitled to provide notice of such determination to
Tenant and the Leasehold Lenders (an “Operating Deficiency Notice”), which Operating Deficiency Notice shall allege with reasonable specificity the details of the non-compliance with the
Operating Standard or Operating Limitations. For purposes of the preceding sentence, an “Operating Deficiency Cause” shall mean any one or more of the following: (a) any failure by Tenant to fund a Funds Request issued pursuant
to Section 5.5.2; or (b) any interference by Tenant or its agents or representatives in any material respect with the Operation of 

  
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the Managed Facilities. Within fifteen (15) days after receipt of any Operating Deficiency Notice, Tenant shall respond in detail to such allegation and, if the matter is not resolved by
Tenant and Manager (or Landlord, as applicable) within forty five (45) days after Tenant’s response, the matter shall be referred to the Expert for Expert Resolution in accordance with Article XVIII. If the Expert
determines that the Managed Facilities are not being Operated in accordance with the Operating Standard or Operating Limitations in one or more material respects as provided herein and that the proximate cause of such
non-compliance is an Operating Deficiency Cause, then, unless Tenant shall within fifteen (15) days of the Expert’s determination fund the subject Funds Request or cease the actions that interfere
with the Operation of the Managed Facilities by Manager, then a Tenant MLSA Event of Default under this Section 16.1.1.5 shall exist. 

Notwithstanding the foregoing, there shall be no Tenant MLSA Event of Default if the basis for any asserted Tenant MLSA Event of Default is in
the process of being resolved pursuant to Sections 5.1.3 and 5.1.4 or Article XVIII. For the avoidance of doubt, the existence of any Tenant Lease Event of Default or event of default by Tenant under any
Leasehold Financing shall not, in and of itself, constitute a Tenant MLSA Event of Default, unless such event, in and of itself, constitutes a Tenant MLSA Event of Default pursuant to the terms hereof. 

16.1.2 Manager Events of Default. Each of the following actions and events shall be deemed a “Manager Event of
Default”: 
 16.1.2.1 a failure by Manager to pay any amount of money to Tenant when due and payable under this Agreement that is
not cured within sixty (60) days after notice to Manager; 
 16.1.2.2 except as set forth in
Section 16.1.2.1, a failure by Manager to perform or comply with any of the covenants, duties or obligations set forth in this Agreement to be performed by Manager that is not cured within thirty (30) days following
notice of such default from Tenant to Manager; provided that if: (a) the default is not susceptible of cure within a thirty (30) day period; (b) the default cannot be cured solely by the payment of a sum of money; and
(c) the default would not expose Tenant (or Landlord) to an imminent and material risk of criminal liability or of material damage to its business reputation, the thirty (30) day cure period shall be extended for such time as is necessary
(but in no event longer than ninety (90) days or, if such default is in the process of being cured to the satisfaction of an applicable Gaming Authority, such longer time as is prescribed by such Gaming Authority) to cure the default so long as
Manager commences to cure the default within such thirty (30) day period and thereafter proceeds with reasonable diligence to complete such cure; and 

16.1.2.3 (i) a general assignment by Manager for the benefit of its creditors, or any similar arrangement with its creditors by Manager;
(ii) the entry of a judgment of insolvency against Manager that is not stayed, vacated or set aside within sixty (60) days of entry thereof; (iii) the filing by Manager of a voluntary petition for relief under applicable bankruptcy,
insolvency, or similar debtor relief laws; (iv) the 

  
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filing of an involuntary petition for relief under applicable bankruptcy, insolvency or similar debtor relief laws by any Person against Manager which either (x) is consented to by Manager,
or (y) is not stayed, vacated or set aside within sixty (60) days of the filing thereof; (v) the appointment (or the filing of a petition or application for appointment) of a receiver, custodian, trustee, conservator, or liquidator to
oversee all or any substantial part of Manager’s assets or the conduct of its business, in each case that is not stayed, vacated or set aside within sixty (60) days of the occurrence thereof; (vi) any action by Manager for dissolution
of its operations; or (vii) any other similar proceedings in any relevant jurisdiction affecting Manager that is not stayed, vacated or set aside within sixty (60) days of the commencement thereof. 

Notwithstanding the foregoing, there shall be no Manager Event of Default if the basis for any asserted Manager Event of Default is in the
process of being resolved pursuant to Sections 5.1.3 and 5.1.4 or Article XVIII. 
 16.1.3 Lease
Guarantor Event of Default. Each of the following actions and events shall be deemed a “Lease Guarantor Event of Default”: 

16.1.3.1 a failure by Lease Guarantor to pay any amount of money to Landlord when due and payable under the Lease Guaranty; 

16.1.3.2 except as set forth in Section 16.1.3.1, a failure by Lease Guarantor to perform or comply with any of the
covenants, duties or obligations set forth in this Agreement to be performed by Lease Guarantor that is not cured within ten (10) days following notice of such default from Landlord to Lease Guarantor; and 

16.1.3.3 (i) a general assignment by Lease Guarantor for the benefit of its creditors, or any similar arrangement with its creditors by
Lease Guarantor; (ii) the entry of a judgment of insolvency against Lease Guarantor that is not stayed, vacated or set aside within sixty (60) days of entry thereof; (iii) the filing by Lease Guarantor of a voluntary petition for
relief under applicable bankruptcy, insolvency, or similar debtor relief laws; (iv) the filing of an involuntary petition for relief under applicable bankruptcy, insolvency or similar debtor relief laws by any Person against Lease Guarantor
which either (x) is consented to by Lease Guarantor, or (y) is not stayed, vacated or set aside within sixty (60) days of the filing thereof; (v) the appointment (or the filing of a petition or application for appointment) of a
receiver, custodian, trustee, conservator, or liquidator to oversee all or any substantial part of Lease Guarantor’s assets or the conduct of its business, in each case that is not stayed, vacated or set aside within sixty (60) days of the
occurrence thereof; (vi) any action by Lease Guarantor for dissolution of its operations; or (vii) any other similar proceedings in any relevant jurisdiction affecting Lease Guarantor that is not stayed, vacated or set aside within
sixty (60) days of the commencement thereof. 
 16.1.4 M/T Event of Default. Each of the following actions and events shall be deemed
an “M/T Event of Default”: (i) Any failure of Manager to Operate each of the Managed Facilities in a Non-Discriminatory manner, in accordance with the Operating Standard and subject to
Manager’s Standard of Care (in each case as and to the 

  
 65 

 
extent required under this Agreement, including as provided in Section 2.1.1, Section 2.1.2, Section 2.1.3,
Section 2.1.4, Section 2.3.1, and Section 2.3.2, but subject to Section 5.9.1); (ii) any failure by Manager or Tenant, as applicable, to comply with
any of the covenants, duties or obligations in this Agreement to be performed by Manager or Tenant, as applicable, that in substance is for the benefit of or in favor of Landlord; and (iii) any termination, revocation or modification of any
rights or licenses granted by Tenant to Manager under Section 7.1.1 without Landlord’s prior written consent, which, in the case of any of clauses (i), (ii), or (iii) above, would reasonably
be expected to have a material and adverse effect on either (x) the Managed Facilities (taken as a whole with the Joliet Managed Facility) or (y) Landlord (taken as a whole with the Joliet Landlord), and which failure or event is not cured
within thirty (30) days following notice thereof from Landlord to Manager; provided that, if: (a) such failure or other breach is not susceptible of cure within a thirty (30) day period and (b) such failure or other breach
would not expose Landlord to an imminent and material risk of criminal liability or of material damage to its business reputation, the thirty (30) day cure period shall be extended for such time as is necessary (but in no event longer than
ninety (90) days) to cure such failure or other breach so long as Tenant and/or Manager, as applicable, commences to cure such failure or other breach within such thirty (30) day period and thereafter proceeds with reasonable diligence to
complete such cure. 
 16.1.5 Remedies for Event of Default. 

16.1.5.1 If any Tenant MLSA Event of Default shall have occurred under Section 16.1.1, Manager shall have the right
to exercise against Tenant any rights and remedies available to such Manager under this Agreement, at law or in equity (including the right to seek specific performance and all injunctive and other equitable relief) and all such rights shall be
cumulative (it being understood and agreed by Tenant that the remedies at law for each and any such breach or threatened breach hereof, including monetary damages, are inadequate compensation for any loss and that any defense in any action for
specific performance that a remedy at law would be adequate is waived); provided, however, no Party shall have the right to terminate this Agreement (in connection with an Event of Default or otherwise) except pursuant to the express
provisions of Section 16.2. 
 16.1.5.2 If any Manager Event of Default shall have occurred under
Section 16.1.2, Tenant shall have the right to exercise against Manager any rights and remedies available to Tenant under this Agreement, at law or in equity (including the right to seek specific performance and all
injunctive and other equitable relief) and all such rights shall be cumulative (it being understood and agreed by Manager that the remedies at law for each and any such breach or threatened breach hereof, including monetary damages, are inadequate
compensation for any loss and that any defense in any action for specific performance that a remedy at law would be adequate is waived); provided, however, (x) no Party shall have the right to terminate this Agreement (in
connection with an Event of Default or otherwise) except pursuant to the express provisions of Section 16.2, and (y) no Party shall have the right to terminate Manager as Manager (in connection with a Manager Event of
Default or otherwise), except as provided in Section 16.2.5, Section 16.2.6, Section 16.2.7 or Section 16.5. 

  
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 16.1.5.3 If any Lease Guarantor Event of Default shall have occurred under
Section 16.1.3, Landlord shall have the right to exercise against Lease Guarantor any rights and remedies available to Landlord under this Agreement, at law or in equity (including the right to seek specific performance and
all injunctive and other equitable relief), and Landlord shall have no duty to mitigate its claims or damages in the event of any Lease Guarantor Event of Default, and all such rights shall be cumulative (it being understood and agreed by Lease
Guarantor that the remedies at law for each and any such breach or threatened breach hereof, including monetary damages, are inadequate compensation for any loss and that any defense in any action for specific performance that a remedy at law would
be adequate is waived); provided, however, that Landlord shall not have the right to terminate this Agreement (in connection with a Lease Guarantor Event of Default or otherwise) except pursuant to the express provisions of
Section 16.2. For the avoidance of doubt, it is understood and agreed that Landlord’s rights to pursue any of its rights or remedies in respect of a Lease Guarantor Event of Default as set forth in this
Section 16.1.5.3 are not subject to or limited by Section 17.2 hereof. 
 16.1.5.4 If
any M/T Event of Default shall have occurred under Section 16.1.4, Landlord shall have the right to exercise against Manager any rights and remedies available to Landlord under this Agreement, at law or in equity (including
the right to seek specific performance and all injunctive and other equitable relief) and all such rights shall be cumulative (it being understood and agreed by the Parties hereto that the remedies at law for each and any such breach or threatened
breach hereof, including monetary damages, are inadequate compensation for any loss and that any defense in any action for specific performance that a remedy at law would be adequate is waived); provided, however, (x) Landlord
shall not have the right to terminate this Agreement (in connection with an M/T Event of Default or otherwise) except pursuant to the express provisions of Section 16.2, and (y) no Party shall have the right to
terminate Manager as Manager (in connection with an M/T Event of Default or otherwise), except as provided in Section 16.2.5, Section 16.2.6, Section 16.2.7 or
Section 16.5. 
 16.2 Termination of this Agreement. The Parties agree that this Agreement and each
Party’s rights and obligations hereunder (other than such of the rights and obligations that are expressly set forth in this Agreement to survive any termination hereof) shall automatically terminate upon the occurrence of any of the following
(provided, however, that, notwithstanding any such termination of this Agreement or anything otherwise contained in this Agreement, Lease Guarantor’s obligations and liabilities under this Agreement in respect of the Lease
Guaranty shall continue unabated and in full force and effect in accordance with the terms of this Agreement, and shall not be terminated, released or reduced in any respect until and unless such obligations and liabilities are explicitly
terminated, released or reduced in accordance with and to the extent set forth in Section 17.3.5, all as more fully set forth in Section 17.3.5): 

16.2.1 Upon a Casualty, Condemnation or Taking with respect to all Managed Facilities. In the event of a Casualty, Condemnation or
Taking affecting each of the Managed Facilities with respect to the entire Leased Property for each of the Managed Facilities pursuant to which, pursuant to Section 14.2(a), 15.1(a) or 15.1(b) of

  
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the Lease, as applicable, all Managed Facilities cease to be subject to the terms of the Lease and the Lease is terminated in accordance with, and as more particularly described in, Section
15.1.2(ii) or Section 15.2.2(ii) of this Agreement. 
 16.2.2 [Reserved]. 

16.2.3 Expiration of the Term. Upon the expiration of the Term of this Agreement pursuant to Section 2.4.1
hereof. 
 16.2.4 [Reserved]. 

16.2.5 Consent of the Parties. Upon the express written consent of Tenant, Landlord, Manager and Lease Guarantor, in each case in their
respective sole and absolute discretion. 
 16.2.6 Leasehold Foreclosure with MLSA Termination. Upon the consummation of (a) any
Leasehold Foreclosure with MLSA Termination that is made in accordance with Section 13.1.2 of this Agreement or (b) Leasehold Lender obtaining a New Lease pursuant to Section 17.1(f) of the Lease and electing to
replace Lease Guarantor with a Qualified Replacement Guarantor (and without limitation, in each case under clause (a) or clause (b), implemented and consummated in compliance in all respects with all applicable requirements of the
Lease, including Section 22.2(i)(1)(A) and Section 22.2(i)(2) through (5) of the Lease (including execution and delivery of a Replacement Guaranty by a Qualified Replacement Guarantor)). 

16.2.7 Upon Lease Termination Following a Tenant Lease Event of Default. Except in the case of a
Non-Consented Lease Termination (which shall in all events be governed by Article XXI), upon the occurrence of both (a) the Landlord’s Enforcement Condition (as such term is defined in the
Lease) and (b) the termination of the Lease by Landlord, expressly in writing, as a result of a Tenant Lease Event of Default (which termination may only be effected at Landlord’s (or, if applicable, Landlord’s Lender’s) sole
discretion). For the avoidance of doubt, if in connection with such termination Manager is Terminated for Cause, then Section 16.5.2 and Section 17.3.5.4 shall apply. 

Notwithstanding anything otherwise contained in this Agreement, (i) all of the obligations of Lease Guarantor hereunder shall continue in
full force and effect in accordance with the terms of this Agreement (notwithstanding any termination of this Agreement), except solely as and to the extent set forth in Article XVII, and (ii) in the event of a Non-Consented Lease Termination, the provisions of Article XXI shall apply. 
 16.3 Actions To
Be Taken on Termination of this Agreement or Termination of Manager. Manager and/or Tenant, as applicable, shall (subject to, and except as necessary or appropriate in connection with performing, any continuing functions and obligations
under this Agreement or the Transition Services Agreement during any Transition Period) take the following actions upon (i) the expiration or termination of this Agreement pursuant to Section 16.2 (in addition to any
rights of any non-defaulting Party to pursue all other remedies available to it under this Agreement if an Event of Default is 

  
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outstanding at the time of such termination; it being understood nothing in this Section 16.3 shall be construed to limit or vitiate any of Landlord’s rights under
this Agreement in respect of the Lease Guaranty or any Lease Guarantor Event of Default) and/or (ii) the termination of Manager in accordance with the terms of this Agreement: 

16.3.1 Payment of Expenses for Termination. If a Tenant MLSA Event of Default is in effect at the time of termination of this Agreement
(including in the event of a Leasehold Foreclosure with MLSA Termination) or termination of Manager in accordance with the terms of this Agreement, all commercially reasonable direct expenses arising as a result of the cessation of Managed
Facilities operations by Manager (including expenses arising under this Section 16.3) shall be for the sole account of Tenant (except to the extent such expenses result from a Manager Event of Default), and Tenant shall
reimburse Manager within fifteen (15) days following receipt of any invoice from Manager for any such expenses, including those arising from or in connection with severing the employment of Managed Facilities Personnel not engaged by Tenant in
accordance with Section 16.3.9 (with severance benefits calculated in accordance with policies applicable generally to employees of Other Managed Facilities, Other Managed Resorts or any applicable employment agreement or
union agreement that had been reflected in the Annual Budget or otherwise approved by Tenant) incurred by Manager in the course of effecting the termination of this Agreement or the termination of Manager, as applicable. 

16.3.2 Payment of Amounts Due to Manager. Upon the expiration or termination of this Agreement or the termination of Manager in
accordance with the terms of this Agreement, Tenant shall pay to Manager (a) Managed Facilities Personnel Costs, (b) other Reimbursable Expenses, (c) the Centralized Services Charges, and (d) any other amounts due to Manager
under this Agreement through the effective date of expiration or termination of this Agreement or termination of Manager, as applicable. This obligation is unconditional and shall survive the expiration or termination of this Agreement (including
all amounts owed to Manager that are not fully ascertainable as of the expiration or termination date), and Tenant shall not have or exercise any rights of setoff, except to the extent of any outstanding and undisputed payments owed to Tenant by
Manager under this Agreement. Any disputes regarding amounts owed to Manager under this Section 16.3.2 shall be referred to the Expert for Expert Resolution pursuant to Article XVIII. In addition,
all provisions in this Agreement that specifically survive the expiration or termination of this Agreement shall continue to survive as provided herein and, notwithstanding the limitations contained in this Section 16.3.2,
Manager shall continue to have a right to receive any and all payments which would be due and payable in connection with such surviving provisions. 

16.3.3 Surrender of Managed Facilities; Cooperation. Manager shall peacefully vacate and surrender the Managed Facilities to Tenant on
the effective date of such expiration or termination of this Agreement or termination of Manager, as applicable, and the Parties shall execute and deliver any expiration or termination or other necessary agreements either Party shall request for the
purpose of effecting or evidencing the expiration or termination of this Agreement or the termination of Manager, as applicable, and Manager shall deliver to Tenant all keys, passwords, combinations, and

  
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otherwise cooperate and take all such additional actions as Tenant may reasonably request to ensure the orderly transition of Operation of the Managed Facilities to Tenant or such Person as
Tenant may designate. 
 16.3.4 Assignment and Transfers to Tenant. Upon the expiration or termination of this Agreement or the
termination of Manager in accordance with the terms of this Agreement (giving effect to any Transition Period), Manager shall assign and transfer to Tenant (or Tenant’s designee): 

16.3.4.1 all leases and contracts to which Manager, Caesars IP Holder or any of their Affiliates is a party (including collective bargaining
agreements and pension plans, equipment leases, subleases, licenses and concession agreements and maintenance and service contracts), if any, in effect that relate to the Managed Facilities (excluding any Intellectual Property other than Property
Specific IP or Property Specific Guest Data) as of the date of expiration or termination of this Agreement or termination of Manager, as applicable, which are assignable without third party consent or as to which consent to assignment may be and has
been obtained without out-of-pocket cost to Manager, and Tenant shall, effective as of the date of such expiration or termination of this Agreement or such termination
of Manager, as applicable, assume all liabilities and obligations thereunder, and Tenant shall confirm its assumption of such liabilities and obligations in writing. To the extent any lease or contract to which Manager, Caesars IP Holder or any of
their Affiliates is a party relates to the Managed Facilities (excluding any Intellectual Property other than Property Specific IP or Property Specific Guest Data) but does not relate exclusively to the Managed Facilities (excluding any Intellectual
Property other than Property Specific IP or Property Specific Guest Data) as of the date of expiration or termination of this Agreement or termination of Manager, as applicable, Manager (or its applicable Affiliate) shall (i) arrange for
assignment and transfer to Tenant of those terms of such agreement that relate solely to the Managed Facilities (excluding any Intellectual Property other than Property Specific IP or Property Specific Guest Data) or (ii) enter into an
agreement with Tenant that will facilitate the continuous operation of the Managed Facilities (including use of the Property Specific IP and Property Specific Guest Data in connection with the Operation thereof) in substantially the same manner as
operated prior to the expiration or termination of this Agreement or the termination of Manager, as applicable; 
 16.3.4.2 all of
Manager’s right, title and interest in and to all Approvals, including liquor licenses, if any, held by Manager in connection with the Operation of the Managed Facilities, but only to the extent such assignment or transfer is permitted under
Applicable Law; provided that Tenant shall reimburse Manager for any funds Manager has expended in obtaining any such Approvals (if not otherwise paid or reimbursed by Tenant). In addition, if Manager or any Affiliate of Manager is the holder
of any liquor license for the Managed Facilities which is not assignable to Tenant or its designee upon termination of this Agreement or upon termination of Manager, as applicable, then, upon the request of Tenant, Manager (or such Affiliate) shall
enter into a temporary lease, license or such other agreement as may be permitted under Applicable Law to permit the continuous and uninterrupted sale of alcoholic beverages at the Managed Facilities consistent with prior operations. In such event,
Manager (or its 

  
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Affiliate, if applicable) shall not be entitled to compensation in connection with such arrangement, but shall not incur any cost or liability in connection therewith and shall be named as an
additional insured on any “dramshop” or other liability insurance pertaining to the sale of alcoholic beverages at the Managed Facilities. Any such temporary lease, license or other arrangement shall include an indemnification of Manager
and its Affiliates from Tenant and shall provide for the termination of all obligations of Manager and its Affiliates thereunder within one hundred twenty (120) days following the date of termination of this Agreement or termination of Manager,
as applicable. In addition, to the extent permitted under Applicable Law, any other permits or licenses that may not be assigned to Tenant shall be maintained by Manager for Tenant’s benefit at Tenant’s cost and expense until such time
(but no later than one hundred twenty (120) days following the termination of this Agreement) as Tenant may secure permits and licenses in its own name, subject to Tenant’s provision of an indemnification of Manager and its Affiliates from
Tenant; and 
 16.3.4.3 all books and records of the Managed Facilities (but excluding any Manager Confidential Information);
provided that Manager may retain one or more archival copies of such books and records for Manager’s independent use. 
 16.3.5
Bookings and Reservations. Tenant shall honor, and shall cause any successor manager to honor, all business confirmed for the Managed Facilities with reservations (including reservations made by Manager pursuant to Manager’s other
promotional programs) dated after the effective date of the expiration or termination of this Agreement or the termination of Manager, as applicable, in accordance with such bookings as accepted by Manager, to the extent accepted by Manager prior to
such effective date in accordance with this Agreement. Manager shall transfer to Tenant and will assume responsibility for all advance deposits received by Manager for the Managed Facilities. 

16.3.6 Bank Accounts; Receivables. On the expiration or termination of this Agreement or the termination of Manager, as applicable,
Manager shall disburse all of Tenant’s funds or other funds generated by the Managed Facilities in the Bank Accounts to Tenant. All receivables of the Managed Facilities outstanding as of the effective date of termination or expiration of this
Agreement or termination of Manager, as applicable, shall continue to be the property of Tenant. Manager will turn over to Tenant any receivables collected directly by Manager after the effective date of termination or expiration of this Agreement
or termination of Manager, as applicable. 
 16.3.7 Final Accounting. Within thirty (30) days following the expiration or
termination of this Agreement or the termination of Manager, as applicable, Manager shall render a full accounting to Tenant (including all statements and reports in the forms required herein) for the final month ending on the date of expiration or
termination of this Agreement or termination of Manager, as applicable. At the request of Tenant, Manager shall cause to be prepared and delivered to Tenant within ninety (90) days following the expiration or termination of this Agreement or
the termination of Manager, as applicable, Certified Financial Statements for the final Operating Year, containing the reports and other items and prepared on the same basis as under 

  
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Section 10.3. The cost of preparing the Certified Financial Statements pursuant to this Section 16.3.7 shall be an Operating Expense
attributable to the final Operating Year. The final Certified Financial Statements delivered pursuant to this Section 16.3.7, and all information contained therein, shall be binding and conclusive on Tenant and Manager
unless, within sixty (60) days following the delivery thereof, either Tenant or Manager shall deliver to the other Party written notice of its objection thereto setting forth in reasonable detail the nature of such objection. If Tenant and
Manager are unable thereafter to resolve any disputes between them with respect to the matters set forth in the final Certified Financial Statements within sixty (60) days after delivery by either Tenant or Manager of the aforesaid written
notice, either Tenant or Manager shall have the right to cause such dispute to be resolved by Expert Resolution in accordance with the provisions of Article XVIII. 

16.3.8 Managed Facilities Personnel. From and after the expiration or termination of this Agreement (i) the Managed Facilities
Personnel and any employees of Manager shall not be restrained by this Agreement in making their own decision as to whether to be employed by Tenant, Manager or their respective Affiliates, (ii) Tenant and Manager shall waive any non-compete, non-solicitation and restrictive covenant agreements and arrangements with such Managed Facilities Personnel and any employees of Manager, as applicable, and
(iii) Manager and its Affiliates may employ any of the Senior Executive Personnel or any other Managed Facilities Personnel who desire employment with Manager or its Affiliates and who Tenant does not employ. Manager shall make reasonably
available to Tenant from time to time during the Transition Period any Managed Facilities Personnel employed by Manager or its Affiliates to answer questions that Tenant may have regarding the Managed Facilities. 

16.3.9 Transition Period. Notwithstanding anything otherwise contained in this Agreement (and notwithstanding any expiration or
termination of this Agreement pursuant to Sections 16.2.1 through 16.2.7 hereof), during the continuance of any Transition Period, Manager shall continue to manage the Managed Facilities in accordance with the Transition Services
Agreement and, to the extent not otherwise inconsistent with the Transition Services Agreement, all of the other applicable provisions, terms and conditions of this Agreement pertaining to the management of the Managed Facilities (including, without
limitation, the Operating Standard as set forth herein), and all such provisions, terms and conditions hereof (and all related obligations of the Parties) shall continue to survive as necessary to effectuate such continuing management functions, and
as necessary so that each Party may exercise all such rights and remedies as are available to it under this Agreement in respect of such continuing management functions, including in respect of any Event of Default occurring during the term of any
such Transition Period. Without limitation of the preceding sentence, Lease Guarantor shall remain obligated in respect of any and all Guaranteed Obligations accruing during the term of any Transition Period, as and to the extent provided in
Article XVII below. 
 16.3.10 Survival. This Section 16.3 shall survive the expiration or
termination of this Agreement. 

  
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 16.4 Reduction in Scope of this Agreement Upon the Sale of a Managed Facility by Landlord.
The Parties agree that in the event a portion of the Leased Property is sold by Landlord and, in connection therewith, pursuant to Article XVIII of the Lease, the Lease is severed into two (2) leases, one lease comprised of a new lease
covering the severed, sold portion of the Leased Property (the “Severed Lease”), and the other lease comprised of the Lease covering the balance of the Leased Property that was not so sold and severed (the Lease as so severed, the
“Balance Lease”), then, subject to and in accordance with Article XVIII of the Lease, this Agreement shall no longer govern the management of such sold and severed portion of the Leased Property, and the Parties (other than
Landlord) and the applicable successor landlord shall enter into the Severed Lease and a new management and lease support agreement (the “Severed MLSA”), which Severed MLSA shall include a guaranty from Lease Guarantor with respect
to all of Tenant’s monetary obligations under such Severed Lease, on terms and conditions identical to the terms and conditions of the Balance Lease and this Agreement (or as otherwise expressly agreed to in writing by the Parties in their
respective sole and absolute discretion), with respect to such sold and severed portion of the Leased Property. For the avoidance of doubt, upon the entry into such Severed Lease and Severed MLSA, the obligations of the Parties thereafter arising
(i) with respect to such sold and severed portion of the Leased Property (and, without limitation Lease Guarantor’s obligations with respect to such Severed Lease) shall no longer be governed by this Agreement and shall be governed instead
by the Severed MLSA and (ii) with respect to the balance of the Leased Property not so sold and severed (and, without limitation, Lease Guarantor’s obligations with respect to the Balance Lease) shall be governed by this Agreement, it
being understood that Lease Guarantor’s obligations in regards to the Balance Lease shall in all events continue to be governed by Article XVII hereof, and such obligations (and any obligations otherwise arising hereunder prior to the
entry into such Severed Lease and Severed MLSA) shall not be terminated, limited or affected by or upon the entry into any such Severed Lease and Severed MLSA. For the avoidance of doubt, the Severed MLSA shall relate solely to the Severed Lease.

 16.5 Termination of Manager. 

16.5.1 General. The Parties agree that, except as provided in Section 16.2 and
Section 16.5.2, Manager may not be terminated as Manager hereunder for any reason (including in the case of a rejection of this Agreement in any bankruptcy, insolvency or dissolution proceedings) unless the termination of
Manager as Manager hereunder is expressly consented to in writing by (x) Landlord, in its sole and absolute discretion, and (y) Lease Guarantor, in its sole and absolute discretion. If Manager is terminated for any reason other than as
provided in the preceding sentence, then such termination shall be null and void and Manager will continue to manage in accordance with the terms of this Agreement; provided that, for the avoidance of doubt, if such termination is in
connection with events constituting a Non-Consented Lease Termination, then such termination shall be treated as a Non-Consented Lease Termination and the provisions of
Article XXI hereof shall apply. 
 16.5.2 Termination for Cause. The Parties acknowledge and agree that Manager may be
Terminated for Cause by Landlord expressly and in writing in 

  
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accordance with the definition of “Terminated for Cause”. In the event that Manager is so Terminated for Cause by Landlord, Landlord may cause Tenant to engage a replacement manager
that is identified by and acceptable to Landlord, on such provisions, terms and conditions as are reasonably acceptable to Landlord, Tenant and such replacement manager, including with respect to use of real property, intellectual property rights
and other assets on or in connection with the Managed Facilities, in each case in Landlord’s reasonable discretion, and, for the avoidance of doubt, the Lease Guaranty and all related provisions, terms and conditions of this Agreement shall
remain in full force and effect as provided in Section 17.3.5.4 hereof; provided that, if a replacement manager is not so engaged within one (1) year from the date of Manager’s termination as set forth in
the definition of “Terminated for Cause”, Lease Guarantor shall have the right to cause Tenant to engage a replacement manager that is identified by Lease Guarantor, subject to approval by Landlord (such approval not to be unreasonably
withheld), on substantially the same terms and conditions as are specified in this Agreement (or in the case of a replacement manager that is not an Affiliate of Tenant, such other terms and conditions that are reasonably satisfactory to Lease
Guarantor and Landlord). No such replacement manager identified by Landlord shall be a Tenant Prohibited Person or a Lease Guarantor Prohibited Person and no such replacement manager identified by Lease Guarantor shall be a Landlord Prohibited
Person. 
 ARTICLE XVII 

LEASE GUARANTY 
 17.1
Guaranteed Obligations. Lease Guarantor hereby unconditionally and irrevocably guarantees to Landlord, as primary obligor and not merely as surety, the prompt and complete payment and performance in full in cash of, without duplication,
(i) all monetary obligations of Tenant under the Lease and the Golf Course Use Agreement of any nature (including, without limitation, during any Transition Period), including, without limitation, (x) Tenant’s rent and other payment
obligations of any nature under the Lease (including all Rent and Additional Charges (as each such term is defined in the Lease)), (y) Tenant’s obligation to expend the Required Capital Expenditures (as defined in the Lease) in accordance with
the Lease and any other expenditures required of Tenant by the terms of the Lease and (z) Tenant’s obligation to pay monetary damages in connection with any breach of the Lease or the Golf Course Use Agreement and to pay indemnification
obligations in each case as provided under the Lease and under the Golf Course Use Agreement, (ii) all Guaranty Termination Obligations (without duplication of amounts otherwise already included under clause (i)) and (iii) any sums
payable to Landlord pursuant to Section 17.2.4 hereof (clauses (i), (ii) and (iii) collectively, the “Guaranteed Obligations”), in each case including (a) amounts that would
become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code or similar laws and (b) any late charges and interest provided for under the Lease (including interest accruing during the pendency of any
bankruptcy, insolvency, receivership or other similar proceeding, whether or not a claim for such interest is allowed or allowable in such proceeding). Lease Guarantor shall be jointly and severally liable with Tenant for the payment and performance
of the Guaranteed Obligations. For the avoidance of doubt, although as a matter of process and procedure, 

  
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Section 17.2 hereof sets forth a process by which Landlord may issue notice to Lease Guarantor in respect of certain Guaranteed Obligations, such process is not intended
to be a predicate to the existence or accrual of Lease Guarantor’s liability for any of the Guaranteed Obligations, it being understood that all of Lease Guarantor’s obligations hereunder in respect of the Guaranteed Obligations are
unconditional and irrevocable in all respects, irrespective of whether the process set forth in Section 17.2 has been commenced, completed or otherwise satisfied (but, in each case, subject to the terms and conditions of
this Agreement, including the occurrence of any Guaranty Release Date). 
 17.2 Notice and Guaranty Payment Process. 

17.2.1 Guaranteed Obligations Other Than Guaranty Termination Obligations and Enforcement Costs. Lease Guarantor shall
have no obligation to make any payment in respect of any Guaranteed Obligations (other than Guaranty Termination Obligations and any sums payable to Landlord pursuant to Section 17.2.4 hereof) unless and until Lease
Guarantor receives notice in respect thereof from Landlord in accordance with this Section 17.2.1, it being understood, however, that as provided in Section 17.1, Landlord’s failure to deliver
any notice shall not prevent or otherwise affect the existence or accrual of any Guaranteed Obligations. Landlord may give Lease Guarantor written notice of any event or circumstance that, with or without the passage of time or the giving of notice,
is or would become a Tenant Lease Event of Default concurrently with notice to Tenant thereof, or at any time thereafter, which notice to Lease Guarantor shall specify in reasonable detail such actual or alleged event or circumstance and the payment
amount or other relief demanded (each such notice to Lease Guarantor, a “Lease Guaranty Claim”). Lease Guarantor shall pay to Landlord, in full in cash, the amount of Guaranteed Obligations that are owed as may be specified in the
applicable Lease Guaranty Claim immediately upon the occurrence of all of the following: (1) the event or circumstance set forth in the applicable Lease Guaranty Claim shall be a Tenant Lease Event of Default that is continuing,
(2) with respect to any failure by Tenant to satisfy a monetary obligation that, with or without the passage of time or the giving of notice, is or would become a Tenant Lease Event of Default (each, a “Monetary Tenant
Default”), Tenant or Lease Guarantor shall have failed to satisfy or cure such failure in full on or prior to the date that is five (5) Business Days after Lease Guarantor’s receipt of the applicable Lease Guaranty Claim, and
(3) with respect to any Monetary Tenant Default, Tenant or Lease Guarantor shall have failed to satisfy or cure such failure in full on or prior to the date that is five (5) Business Days after Tenant’s deadline under the Lease
(giving effect to any applicable notice and cure periods available to Tenant under the Lease, unless, at the time the applicable Lease Guaranty Claim is made, another Lease Guaranty Claim has been made and remains outstanding); provided that
no Lease Guaranty Claim shall be required to be delivered other than with respect to Guaranteed Obligations described in clause (i) of Section 17.1; and provided, further, that the provisions of
this Section 17.2.1 are not intended to expand in any way the definition or scope of the Guaranteed Obligations. 

17.2.2 Guaranty Termination Obligations. Guaranteed Obligations comprising Guaranty Termination Obligations shall not be subject to the
process described in Section 17.2.1. Instead (subject to the final two (2) sentences of this Section 17.2.2), 

  
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Lease Guarantor shall pay to Landlord, in full in cash, any and all known or demanded Guaranty Termination Obligations immediately following the Guaranty Release Date. Lease Guarantor
acknowledges and agrees that the full extent of all of the Guaranty Termination Obligations may not be known or demanded as of the Guaranty Release Date. Accordingly, to the extent that any amount of any portion of the Guaranty Termination
Obligations is either not known or not demanded by Landlord as of the Guaranty Release Date, then Lease Guarantor shall pay to Landlord all of such portion of the Guaranty Termination Obligations, in full in cash, promptly upon subsequent demand by
Landlord for such Guaranty Termination Obligations, and the failure or delay of Landlord to demand such payment shall not be a waiver of any right of Landlord to receive the Guaranty Termination Obligations in full. 

17.2.3 Interest. If all or any part of any Guaranteed Obligation shall not be paid on or prior to Lease Guarantor’s deadline to so
do as provided in this Section 17.2, Lease Guarantor shall pay, immediately upon demand by Landlord, and without presentment, protest, or notice (each of which is hereby waived by Lease Guarantor to the extent permitted by
Applicable Law), in addition to such Guaranteed Obligation, but without duplication of any interest accruing on such amounts pursuant to the Lease and otherwise payable as a Guaranteed Obligation (and without interest accruing on any interest),
interest on the amount of such Guaranteed Obligation (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) at a rate
equal to the lesser of (i) five percentage points above the Prime Rate and (ii) the highest rate permitted by Applicable Law, accruing from the date of Lease Guarantor’s deadline by which to make such payment under this
Section 17.2. 
 17.2.4 Enforcement Costs. If Landlord or Lease Guarantor brings an action or other
proceeding against the other to enforce or interpret any of the terms, covenants or conditions hereof or any instrument executed pursuant to this Agreement, or by reason of any breach or default hereunder or thereunder, the Party substantially
prevailing in any such action or proceeding and any appeal thereupon shall be paid all of its costs and reasonable documented outside attorneys’ fees incurred therein. 

17.3 Guaranty Provisions. 

17.3.1 Nature of Lease Guaranty. 

17.3.1.1 Until such time as Lease Guarantor has paid in full in cash all of the Guaranteed Obligations, including any and all Guaranty
Termination Obligations, Lease Guarantor shall continue to be liable under the Lease Guaranty (except solely if and to the extent expressly provided in Section 17.3.5 below). Lease Guarantor agrees that the Guaranteed
Obligations (A) shall not be released, diminished, impaired, reduced or adversely affected by any of the following, whether or not notice thereof is given to Lease Guarantor (in each case subject to the final sentence of this
Section 17.3.1.1): (i) any agreement or stipulation between Landlord and Tenant extending the time of performance under, or any other agreement, amendment, modification, supplement or other instrument modifying any of
the terms, covenants or 

  
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conditions contained in, the Lease; (ii) any renewal or extension of the Lease pursuant to an option granted in the Lease, if any; (iii) any waiver by Landlord, or failure of Landlord
to enforce, any of the terms, covenants or conditions contained in the Lease or any of the terms, covenants or conditions contained in any modifications thereof; (iv) any assignment of the Lease, or any subletting or subsubletting of, or any
other occupancy arrangements in respect of, all or any part of the Managed Facilities; (v) any release, waiver, consent, indulgence, forbearance or other action, inaction or omission by Landlord or otherwise under or in respect of the Lease or
any other instrument or agreement; (vi) any change in the corporate existence, structure or ownership of, or any bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, receivership or trusteeship
affecting, Tenant, Landlord or any other Party or their respective successors or assigns or any of their respective Affiliates or any of their respective assets, or any actual or attempted rejection, assumption, assignment, separation, severance, or
recharacterization of the Lease or any portion thereof, or any discharge of liability thereunder, in connection with any such proceeding or otherwise; (vii) any other defenses, other than a defense of payment or performance in full, as the case
may be, of the Guaranteed Obligations; (viii) the existence of any claim, setoff, counterclaim, defense or other rights that may be at any time be available to, or asserted by, Lease Guarantor or Tenant against Landlord, whether in connection
with the Lease, the Guaranteed Obligations or otherwise; (ix) any breach by (or any act or omission of any nature of) Landlord under the Lease; (x) (except if Article XXI requires implementation of a Replacement Structure, and such
Replacement Structure does not occur as a direct and proximate result of Landlord’s acts or failure to act in accordance with Article XXI, solely to the extent expressly provided in Section 21.3) any breach by
(or any act or omission of any nature of) Landlord under this Agreement or any of the other Lease/MLSA Related Agreements; (xi) any law or statute that may operate to cap, limit, or otherwise restrict the claims of a lessor of real property,
including, but not limited to, Section 502(b)(6) of the Bankruptcy Code; (xii) the integration of the Lease Guaranty together with the other components of this Agreement (as opposed to the Lease Guaranty having been made by Lease
Guarantor as an independent, standalone instrument); (xiii) any default, failure or delay, willful or otherwise, in the performance of the obligations of Tenant under the Lease; (xiv) the failure of Landlord to assert any claim or demand or to
exercise or enforce any right or remedy under the provisions of this Agreement, the Lease or otherwise; (xv) the invalidity, illegality or unenforceability of all or any part of the Guaranteed Obligations, or any document or agreement executed
in connection with the Guaranteed Obligations (including the Lease) for any reason whatsoever (subject, in each case, to Section 17.3.5 and Article XXI of this Agreement); and/or (xvi) any other circumstance
(including, without limitation, any statute of limitations) or manner of administering the obligations of Tenant under the Lease or any existence of or reliance on any representation by Landlord that might vary the risk of Lease Guarantor or
otherwise operate as a defense available to, or a legal or equitable discharge of, Lease Guarantor or any other guarantor or surety and (B) are in no way conditioned or contingent upon any attempts to collect or any other condition or
contingency. Notwithstanding anything set forth in this Agreement or the Lease to the contrary, Lease Guarantor shall not be subject to (and the Lease Guaranty will not be applicable with respect to) any amendment, waiver, consent, supplement or
other 

  
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modification of the terms of the Lease that increases Tenant’s monetary obligations thereunder or, subject to Section 17.3.1.8,
Section 17.3.1.9 and Section 17.3.1.10 hereof, that is otherwise adverse to the rights of Tenant and/or Lease Guarantor, unless Lease Guarantor shall have expressly consented thereto in writing (in
its sole and absolute discretion); provided, however, that Lease Guarantor shall, in all events, remain liable for (and the Lease Guaranty will be applicable with respect to) any and all Guaranteed Obligations that would exist without
giving effect to any such amendment, waiver, consent, supplement or other modification of the terms of the Lease that increases Tenant’s monetary obligations thereunder; provided, further, however, for the avoidance of
doubt, that nothing in this sentence is intended to vitiate or supersede Section 17.3.1.8, Section 17.3.1.9 and Section 17.3.1.10 hereof. 

17.3.1.2 Subject to Section 17.3.5, the liability of Lease Guarantor under the Lease Guaranty shall be an absolute,
direct, immediate, continuing and unconditional guaranty of payment and performance and not of collectability, may not be revoked by Lease Guarantor and shall continue to be effective with respect to all of the Guaranteed Obligations notwithstanding
any attempted revocation by Lease Guarantor and shall not be conditional or contingent upon the genuineness, validity, regularity or enforceability of the Lease or any other documents or instruments relating to the Guaranteed Obligations, including
any Party’s lack of authority or lawful right to enter into such document on such Party’s behalf, or the pursuit by Landlord of any remedies Landlord may have. Without limiting the generality of the foregoing, the liability of Lease
Guarantor under the Lease Guaranty shall be unaffected by (a) the absence of any action to enforce the Lease Guaranty, any other obligation of Lease Guarantor hereunder, the Lease or any other instrument or agreement, or the waiver or consent
by Landlord with respect to any of the provisions of any of them; or (b) the existence, value, or condition of any security for the Guaranteed Obligations or any action, or the absence of any action, by Landlord in respect thereof (including,
without limitation, the release of any such security). 
 17.3.1.3 Subject to Section 17.3.5, the Lease Guaranty
is a continuing guaranty and shall remain in effect until all of the Guaranteed Obligations shall have been irrevocably paid in full in cash in accordance with the terms of the Lease. 

17.3.1.4 In the event that all or any portion of the Guaranteed Obligations are paid by Tenant or Lease Guarantor, the Guaranteed Obligations
of Lease Guarantor hereunder shall continue and remain in full force and effect or be reinstated, as the case may be, in the event that all or any part of such payment(s) are rescinded or recovered directly or indirectly from Landlord as a
preference, fraudulent transfer or for any other reason. Any such payments which are so rescinded or recovered shall constitute Guaranteed Obligations for all purposes under the Lease Guaranty. 

17.3.1.5 The Lease Guaranty shall continue in full force and be binding upon Lease Guarantor, its successors and assigns, in accordance with
its terms. Lease Guarantor shall be regarded, and shall be in the same position, as principal debtor with respect to the Guaranteed Obligations. 

  
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 17.3.1.6 The Lease Guaranty shall inure to the benefit of Landlord and its permitted successors
and assigns, including any Landlord’s Lender to which the Lease has been assigned and its permitted successors and assigns. 

17.3.1.7 Lease Guarantor, at its expense, during the Term shall take such commercially reasonable actions as may be reasonably required to
obtain and maintain such required approvals or authorizations from the applicable Governmental Authorities to permit Lease Guarantor to guarantee the Guaranteed Obligations hereunder. 

17.3.1.8 Without limitation of any of the other provisions, terms, and conditions hereof, Lease Guarantor expressly acknowledges and agrees
that in connection with the implementation of a Leasehold Foreclosure with MLSA Assumption, this Agreement (including the Lease Guaranty) shall remain in full force and effect and Lease Guarantor shall be obligated in all respects under the Lease
Guaranty without any termination, reduction, impairment or reduction whatsoever, irrespective of whether any of the following shall have occurred (whether or not notice thereof is given to Lease Guarantor) (in each and any such case, irrespective of
whether Lease Guarantor shall execute an affirmation or reaffirmation of its obligations under the Lease Guaranty, or otherwise affirm or reaffirm its obligations hereunder in connection therewith): (i) any foreclosure or such other termination of
Tenant’s interest in the Lease or of any or all of the equity in Tenant, (ii) any other exercise of remedies by the applicable Leasehold Lender, (iii) any changes in the nature of the relationship between Tenant, on the one hand, and
Lease Guarantor and Manager, on the other hand, including by reason of the replacement of Tenant with a Qualified Transferee (as defined in the Lease) that is unrelated to Lease Guarantor or Manager, or (iv) any changes or modifications with
respect to the Lease of any nature in connection with such Leasehold Foreclosure with MLSA Assumption pursuant to and contemplated by the third to last paragraph of Section 22.2 of the Lease. LEASE GUARANTOR HEREBY IRREVOCABLY WAIVES ANY
CONTENTION THAT ITS OBLIGATIONS UNDER THIS AGREEMENT AS PROVIDED IN THIS SECTION 17.3.1.8 ARE UNENFORCEABLE, AND HEREBY ACKNOWLEDGES THAT IT IS ESTOPPED TO ASSERT TO THE CONTRARY. 

17.3.1.9 Without limitation of any of the other provisions, terms, and conditions hereof, Lease Guarantor expressly acknowledges and agrees
that if a New Lease is successfully entered into in accordance with Section 17.1(f) of the Lease, and, in connection therewith, the applicable Leasehold Lender has elected to proceed in accordance with Section 22.2(i)(1)(B) of the
Lease, then, in any such event, this Agreement (including the Lease Guaranty) shall remain in full force and effect and Lease Guarantor shall be obligated in all respects under the Lease Guaranty without any termination, reduction, impairment or
reduction whatsoever, irrespective of whether any of the following shall have occurred (whether or not notice thereof is given to Lease Guarantor) (in each and any such case, irrespective of whether Lease Guarantor shall execute an affirmation or
reaffirmation of its obligations under the Lease Guaranty, or otherwise affirm or reaffirm its obligations hereunder in connection therewith): (i) any foreclosure or such other termination of Tenant’s interest in the Lease or of any or all of

  
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the equity in Tenant or any other exercise of remedies by the applicable Leasehold Lender, (ii) any termination of the Lease, (iii) any changes in the nature of the relationship between
Tenant, on the one hand, and Lease Guarantor and Manager on the other hand, including by reason of the replacement of Tenant with a Qualified Transferee (as defined in the Lease) that is unrelated to Lease Guarantor or Manager, or (iv) the
entry into the New Lease on the terms and conditions contemplated under Section 17.1(f) of the Lease. LEASE GUARANTOR HEREBY IRREVOCABLY WAIVES ANY CONTENTION THAT ITS OBLIGATIONS UNDER THIS AGREEMENT AS PROVIDED IN THIS
SECTION 17.3.1.9 ARE UNENFORCEABLE, AND HEREBY ACKNOWLEDGES THAT IT IS ESTOPPED TO ASSERT TO THE CONTRARY. 

17.3.1.10 Without limitation of any of the other provisions, terms, and conditions hereof, Lease Guarantor expressly acknowledges and agrees
that Lease Guarantor shall, at the request of Landlord, affirm or reaffirm in writing all of its obligations under this Agreement including as Lease Guarantor in respect of the Lease or any New Lease, as applicable, upon the occurrence of any of the
following: (i) any Leasehold Foreclosure with MLSA Assumption pursuant to Section 13.1.2(b); (ii) the assumption by any Person (including a Person that is unrelated to Manager or Lease Guarantor) of Tenant’s rights and obligations
under the Lease in connection with any such Leasehold Foreclosure with MLSA Assumption; or (iii) the execution of any New Lease by any Person (including a Person that is unrelated to Manager or Lease Guarantor) in accordance with Section
17.1(f) of the Lease, in connection with which the applicable Leasehold Lender has elected to proceed in accordance with Section 22.2(i)(1)(B) of the Lease. Lease Guarantor expressly acknowledges and agrees that Lease Guarantor’s
failure to so reaffirm in a writing reasonably acceptable to Landlord all of its obligations under this Agreement within five (5) days of a request from Landlord shall be an immediate Lease Guarantor Event of Default. In addition, and without
limitation of anything otherwise contained in this Agreement, Lease Guarantor appoints Landlord as its attorney-in-fact with full power in Lease Guarantor’s name
and behalf to execute and deliver at any time an affirmation or reaffirmation of this Agreement, including as to the Lease Guaranty. The power of attorney hereby created is a power coupled with an interest, and shall be irrevocable. Notwithstanding
the foregoing, Landlord agrees to exercise the foregoing power of attorney only upon the occurrence of any of the events described in clauses (i), (ii) or (iii) above and only if Lease Guarantor fails to affirm or reaffirm
in a writing reasonably acceptable to Landlord all of its obligations under this Agreement within five (5) days of a request from Landlord. LEASE GUARANTOR HEREBY IRREVOCABLY WAIVES ANY CONTENTION THAT ITS AGREEMENTS UNDER THIS AGREEMENT AS
PROVIDED IN THIS SECTION 17.3.1.10, OR THE POWER OF ATTORNEY GRANTED PURSUANT TO THIS SECTION 17.3.1.10 ARE UNENFORCEABLE, AND HEREBY
ACKNOWLEDGES THAT IT IS ESTOPPED TO ASSERT TO THE CONTRARY. 
 17.3.2 Subrogation. Until all of the Guaranteed Obligations
shall have been irrevocably paid in full in cash, Lease Guarantor shall withhold exercise of (a) any rights of reimbursement, indemnity or subrogation against Tenant arising from any 

  
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payment of Guaranteed Obligations by Lease Guarantor, (b) any right of contribution Lease Guarantor may have against any other Person that is liable under the Lease arising from such payment
or otherwise in connection with the Lease or this Agreement, (c) any right to enforce any remedy which Lease Guarantor now has or may hereafter have against Tenant or Manager or (d) any benefit of, and any right to participate in, any
security now or hereafter held by Landlord in respect of the Lease. Lease Guarantor further agrees that any rights of reimbursement, indemnity or subrogation Lease Guarantor may have against Tenant or against any collateral or security, and any
rights of contribution Lease Guarantor may have against any other Person, in connection with any payment of Guaranteed Obligations or otherwise under this Agreement or the Lease by Lease Guarantor shall be junior and subordinate to any rights
Landlord may have against Tenant or any such other Person, to all right, title and interest Landlord may have in any such collateral or security, and to any rights Landlord may have against Tenant or any such other Person. If any amount shall be
paid to Lease Guarantor on account of any such reimbursement, indemnity, subrogation or contribution rights at any time prior to the Guaranty Covenant Termination Date, such amount shall be held in trust for Landlord and shall forthwith be paid over
to Landlord to be credited and applied against the Guaranteed Obligations, whether matured or unmatured, in accordance with the terms of the Lease or any applicable security agreement. In addition, any indebtedness of Tenant now or hereafter held by
Lease Guarantor is hereby subordinated in right of payment to the prior irrevocable payment in full in cash of the Guaranteed Obligations; provided that, the foregoing notwithstanding, Tenant may make payments with respect to such
indebtedness unless (A) a Tenant Lease Event of Default has occurred and is continuing or (B) any monetary default by Tenant under the Lease has occurred and is continuing with respect to which Landlord has delivered to Lease Guarantor a
Lease Guaranty Claim or otherwise delivered written notice to Tenant or Lease Guarantor. 
 17.3.3 Enforcement. 

17.3.3.1 The obligations of Lease Guarantor hereunder are independent of the obligations of Tenant under the Lease. The Lease Guaranty may be
enforced by Landlord without the necessity at any time of resorting to or exhausting any other security (such as, for example, any security deposit of Tenant held by Landlord) or collateral and without the necessity at any time of having recourse to
the remedy provisions of the Lease (such as, for example, terminating the Lease) or otherwise, and Lease Guarantor hereby expressly waives the right to require Landlord to proceed against Tenant or any other Person, to exercise its rights and
remedies under the Lease, or to pursue any other remedy whatsoever against any Person, security or collateral or enforce any other right at law or in equity. Without limitation of the generality of the foregoing, it shall not be necessary for
Landlord (and Lease Guarantor hereby waives any rights which it may have to require Landlord), in order to enforce any Guaranteed Obligation against Lease Guarantor, first to institute suit or exhaust its remedies against any other Person, security
or collateral or resort to any other means of obtaining payment of any Guaranteed Obligation. Nothing herein shall prevent Landlord from suing any Person to enforce the terms of the Lease or from exercising any other rights available to Landlord
under the Lease or any other instrument or agreement, and the exercise of any of the aforesaid rights shall not affect the obligations of Lease Guarantor hereunder. Lease 

  
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Guarantor understands that the exercise, or any forbearance from exercising, by Landlord of certain rights and remedies contained in the Lease may affect or eliminate Lease Guarantor’s right
of subrogation against Tenant and that Lease Guarantor may therefore incur liability hereunder that is not subject to reimbursement; nevertheless Lease Guarantor hereby authorizes and empowers Landlord to exercise, in its sole discretion, any rights
and remedies, or any combination thereof, which may then be available, it being the purpose and intent of Lease Guarantor that its Guaranteed Obligations hereunder shall be absolute, independent and unconditional, in each case in accordance with its
terms hereunder. 
 17.3.3.2 No failure or delay on the part of Landlord in exercising any right, power or privilege under the Lease
Guaranty shall operate as a waiver of or otherwise affect any such right, power or privilege, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege.

 17.3.3.3 It is understood that Landlord, without impairing the Lease Guaranty, may, subject to the terms of the Lease, apply payments
from Tenant or from any reletting of the Leased Property upon a default by Tenant or from or in connection with any exercise of rights or remedies, to any due and unpaid rent or other charges or to such other Guaranteed Obligations owed by Tenant to
Landlord pursuant to the Lease in such amounts and in such order as Landlord, in its sole and absolute discretion, determines; provided that any amount so paid and applied reduces the aggregate outstanding liabilities of Tenant under the
Lease by such amount as required under the Lease. 
 17.3.4 Waivers and Other Acknowledgments. 

17.3.4.1 Subject to Section 17.2 above, Lease Guarantor hereby waives (i) diligence, presentment, demand of
payment, demand for performance, notice of non-performance, default, acceleration, protest or dishonor with respect to any of the Guaranteed Obligations and this Agreement and any requirement that Landlord
protect any property related thereto, (ii) all notices to Lease Guarantor, Tenant or any other person (whether of nonpayment, termination, acceptance of the Lease Guaranty, default under the Lease, loans or defaults under loans, assignment or
sublease, sale of the Leased Property, changes in ownership of Landlord or Tenant, or any other matters relating to the Lease, the Leased Property or related matters, whether or not referred to herein, and including any and all notices of the
creation, renewal, extension, modification or accrual of any Guaranteed Obligations arising under the Lease) in connection with or related to a claim under the Lease Guaranty, (iii) all demands whatsoever in respect of a claim under the Lease
Guaranty, (iv) any requirement of diligence or promptness on Landlord’s part in the enforcement of its rights under the provisions of the Lease Guaranty and this Agreement, (v) any defense to the obligation to make any payments
required under the Lease Guaranty (vi) any defense based upon an election of remedies by Landlord, (vii) any defense based on any right of set-off or recoupment or counterclaim against or in respect
of the obligations of Lease Guarantor hereunder, and (viii) notice of adverse change in Tenant’s financial condition, or any other fact that might materially increase 

  
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the risk to Lease Guarantor with respect to any of the Guaranteed Obligations. Notice or demand given to Lease Guarantor in any instance will not entitle Lease Guarantor to notice or demand in
similar or other circumstances nor constitute Landlord’s waiver of its right to take any future action in any circumstance without notice or demand. Lease Guarantor agrees that its Guaranteed Obligations hereunder shall not be affected by any
circumstances which might otherwise constitute a legal or equitable discharge of a guarantor or surety. Lease Guarantor agrees that (other than during a Section 5.9.1(c) Period) it shall be collaterally estopped from contesting, and shall be bound
conclusively in any subsequent action, in any jurisdiction, by the judgment in any action by Landlord against Tenant in connection with the Lease or any other Lease/MLSA Related Agreement (wherever instituted) as if Lease Guarantor were a party to
such action even if not so joined as a party unless Lease Guarantor attempted to join such action and was not permitted to do so by Landlord. 

17.3.4.2 Lease Guarantor hereby waives, and agrees that it shall not at any time insist upon, plead, or in any manner whatever claim or take
the benefit or advantage of, any appraisal, valuation, stay, extension, marshalling of assets, or redemption laws, or exemption, whether now or at any time hereafter in force, which may delay, prevent, or otherwise affect the performance by Lease
Guarantor of its obligations under, or the enforcement by Landlord of, the Lease Guaranty. Lease Guarantor represents, warrants, and agrees that, as of the date of this Agreement, its obligations under this Lease Guaranty are not subject to any
offsets or defenses against Landlord or Tenant of any kind. Lease Guarantor further agrees that its obligations under this Lease Guaranty shall not be subject to any counterclaims (to the fullest extent permitted under Applicable Law), offsets, or
defenses (except the defense of actual payment or performance) against Landlord or against Tenant of any kind which may arise in the future. 

17.3.4.3 Lease Guarantor assumes all responsibility for being and keeping itself informed of the financial condition and assets of Tenant,
and of any and all other circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations and the nature, scope and extent of the risks that Lease Guarantor assumes and incurs hereunder, and agrees that Landlord shall not have any
duty to advise Lease Guarantor of any information known to Landlord (or otherwise) regarding such circumstances or risks. 
 17.3.5 Lease
Guarantor Release. 
 17.3.5.1 Notwithstanding anything else contained in this Agreement, the obligations and liabilities of Lease
Guarantor hereunder shall not terminate, be released or be reduced in any respect (including if this Agreement is terminated for any reason) except as expressly set forth in this Section 17.3.5. 

17.3.5.2 Subject to the remaining provisions of this Section 17.3.5 and Section 17.3.1.4,
the liability of Lease Guarantor in respect of the Guaranteed Obligations (other than with respect to any Guaranty Termination Obligations) shall automatically terminate, and Lease Guarantor shall be automatically released from its

  
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obligations under this Agreement including its obligation to pay any Guaranteed Obligations (other than with respect to any Guaranty Termination Obligations) to Landlord (the date upon which a
release as described in this sentence occurs is referred to in this Agreement as the “Guaranty Release Date”) (i) upon the occurrence of the expiration or termination of this Agreement in accordance with the express provisions of
Section 16.2; (ii) upon the effectuation of the Replacement Structure and execution and effectiveness of a Replacement MLSA in accordance with the express provisions of Section 21.1, following a Non-Consented Lease Termination; (iii) if, following a Non-Consented Lease Termination, (x) Landlord or any Landlord’s Lender, as applicable, elects in writing
that the Replacement Structure shall not occur or (y) the Replacement Structure does not occur as a direct and proximate result of Landlord’s acts or failure to act in accordance with Article XXI, in each case, solely to the extent
expressly provided in Section 21.3; or (iv) if (x) Manager shall be terminated for Cause by Landlord expressly and in writing and (y) an arbitrator in a Cause Arbitration under clause (1) of the
definition of “Terminated for Cause” subsequently determines that Cause did not exist for termination of Manager thereunder (it being understood that in the case of this clause (iv), the Guaranty Release Date shall be deemed to be
the date of Manager’s termination as set forth in clause (1) of the definition of “Terminated for Cause”). For the avoidance of doubt, except as expressly set forth in this Section 17.3.5.2, the
termination of this Agreement for any reason shall not result in the termination, release or reduction of Lease Guarantor’s obligations or liabilities under this Agreement in any respect. 

17.3.5.3 In connection with any release occurring on the Guaranty Release Date as described in Section 17.3.5.2,
Landlord shall take such action and execute any such documents as may be reasonably requested by Lease Guarantor to evidence such release. 

17.3.5.4 Notwithstanding the foregoing provisions of this Section 17.3.5 or anything else otherwise set forth in
this Agreement, (i) in the event that Manager is Terminated for Cause, then, except as set forth in Section 17.3.5.2(iv), this Agreement shall not terminate with respect to Lease Guarantor in any respect (and Lease Guarantor shall not be
released from any obligation or liability in respect of any aspect of the Guaranteed Obligations) and Lease Guarantor’s obligations shall remain in full force and effect in accordance with (and subject to) the terms of this Agreement,
(ii) during any Transition Period, the obligations of Lease Guarantor, Tenant, Manager and Landlord hereunder shall continue in all respects for the duration of such Transition Period in accordance with (and subject to) the terms of this
Agreement (it being understood that, in such event, Manager shall continue to act as manager pursuant to the provisions, terms and conditions of this Agreement and the Transition Services Agreement in accordance with
Section 16.3.9 hereof), (iii) in the event of a Non-Consented Lease Termination, the obligations of Lease Guarantor and the other Parties hereunder shall be governed by
Article XXI, and (iv) in the event a Severed Lease and Severed MLSA are entered into in accordance with Section 16.4, Lease Guarantor’s obligations with respect to the Balance Lease, the Severed Lease, this
Agreement and the Severed MLSA shall be as described in Section 16.4. 

  
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 17.3.5.5 [Reserved] 

17.3.5.6 Notwithstanding anything contained in this Agreement or in any of the other Lease/MLSA Related Agreements to the contrary (and
without intending to vitiate, limit or supersede Section 1.3 hereof), but subject to Section 17.3.5.2, in the event this Agreement or any of the other Lease/MLSA Related Agreements (or any portion
of any of them) is unenforceable (for any reason whatsoever) against any Party to this Agreement, including, without limitation, as a result of rejection of this Agreement or any of the other Lease/MLSA Related Agreements in any bankruptcy,
insolvency, dissolution or other proceeding, the Lease Guaranty shall remain in full force and effect without any change or impairment (and shall not be terminated, released or reduced) in any respect, and shall be treated as if all of the
obligations and liabilities of the Lease Guaranty were set forth, ab initio, in a separate instrument to which the Party against which this Agreement or any such Lease/MLSA Related Agreement (or any portion of any of them) is unenforceable is
not a party. 
 17.3.5.7 Notwithstanding anything otherwise contained in this Agreement, for so long as any portion of the Guaranteed
Obligations (including any Guaranty Termination Obligations) payable pursuant to this Agreement has not been irrevocably paid in full in cash or if any Guaranteed Obligations have been reinstated in accordance with
Section 17.3.1.4, all provisions, terms and conditions of this Agreement shall survive and remain in full force and effect to the extent necessary so that Landlord may exercise any and all rights and remedies available to
it in respect of the Lease Guaranty hereunder, including any and all rights available to Landlord in respect of any Lease Guarantor Event of Default or any nonpayment in full in cash of any and all such Guaranteed Obligations as and when provided
hereunder; provided that the provisions of Article XI and Section 17.4 shall terminate on the Guaranty Covenant Termination Date. 

17.4 Guarantor Covenants. 

17.4.1 Asset Sales. Prior to the Guaranty Covenant Termination Date, Lease Guarantor shall not effect any Asset Sale unless: 

(1) Lease Guarantor receives consideration equal to at least the Fair Market Value (as determined in good faith by a responsible officer of
Lease Guarantor or, with respect to any Asset Sale to an Affiliate, as determined pursuant to the opinion referred to in clause (2) below) of the disposed assets measured as of the date of such Asset Sale; and 

(2) in the case of any Asset Sale to an Affiliate of Lease Guarantor, (a) such Asset Sale is approved by a majority of the Independent
Directors of Lease Guarantor; (b) Lease Guarantor obtains an opinion from an Approved Fairness Opinion Firm that such Asset Sale is fair to Lease Guarantor from a financial point of view after such Approved Fairness Opinion Firm conducts an
independent assessment of all material terms of such Asset Sale; and (c) prior to the consummation of any such Asset Sale, (i) Lease Guarantor offers, in writing, to make such Asset Sale to Landlord on the same terms on which such Asset
Sale is proposed to be made to such Affiliate and 

  
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(ii) Landlord either declines such offer or fails to provide written notice of acceptance of such offer to Lease Guarantor within thirty (30) Business Days of the date such offer is
made to Landlord (in which event Lease Guarantor may effect such Asset Sale only upon the same terms offered to Landlord or on terms less favorable to the applicable buyer than the terms offered to Landlord). To constitute a valid offer in
accordance with clause (2)(c)(i) above, Lease Guarantor shall furnish to Landlord all material information made available to the purchaser in such Asset Sale, including at a minimum, basic information identifying the applicable assets,
material acquisition terms, including, without limitation, the purchase price and reasonable historical financial and all other customary diligence materials and other information relating to the applicable assets to be sold and such additional
information as may be reasonably requested by Landlord and in the possession or control of Lease Guarantor or its Affiliates. 
 17.4.2
Acceptance of Asset Sale Offer. If Landlord accepts any offer described in clause (2)(c)(i) of Section 17.4.1 within the time limit and in the manner described in clause (2)(c)(ii) of
Section 17.4.1, then Landlord (or any designee of Landlord) and Lease Guarantor shall promptly proceed to consummate the Asset Sale contemplated by such offer on the terms set forth in such offer; provided that the
parties shall be entitled to a minimum period of forty five (45) days between acceptance of the offer and the closing. In the event Landlord (or such designee) fails to consummate such Asset Sale on such terms, then Landlord shall be deemed to
have declined such offer for purposes of this Section 17.4 and Lease Guarantor may effect such Asset Sale only upon the same terms offered to Landlord or on terms less favorable to the applicable buyer than the terms
offered to Landlord. 
 17.4.3 Dividends. In addition to any other applicable restrictions hereunder, prior to the Guaranty Covenant
Termination Date, Lease Guarantor shall not, directly or indirectly, declare or pay any dividend or make any other distribution with respect to its capital stock or other equity interests with any assets other than cash unless such dividend or
distribution would not reasonably be expected to result in Lease Guarantor’s inability to perform its Lease Guaranty obligations under this Agreement. 

17.4.4 Restricted Payments. In addition to the foregoing, prior to the earlier of (1) the Guaranty Covenant Termination
Date and (2) the date that is six years after the date of this Agreement, Lease Guarantor shall not directly or indirectly (i) declare or pay, or cause to be declared or paid, any dividend, distribution, any other direct or indirect
payment or transfer (in each case, in cash, stock, other property, a combination thereof or otherwise) with respect to any of Lease Guarantor’s capital stock or other equity interests, (ii) purchase or otherwise acquire or retire for value
any of Lease Guarantor’s capital stock or other equity interests, or (iii) engage in any other transaction with any direct or indirect holder of Lease Guarantor’s capital stock or other equity interests which is similar in purpose or
effect to those described above (collectively, a “Restricted Payment”), except that Lease Guarantor can execute any of the transactions outlined above if: (a) Lease Guarantor’s equity market capitalization after giving pro
forma effect to such dividend, distribution, or other transaction is at least $5.5 billion, (b) the amount of such dividend, distribution, or other transaction (together with any and all other such dividends and distributions and other
transactions made under this clause (b)

  
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but excluding, for the avoidance of doubt, any dividends, distributions or other transactions to be made under clause (c) below in such fiscal year), does not exceed, in the
aggregate, (x) 25% of the net proceeds, up to a cap of $25 million in any fiscal year, from the disposition of assets by Lease Guarantor and its subsidiaries, plus (y) $100 million from other sources in any fiscal year, or (c) Lease
Guarantor’s equity market capitalization after giving pro forma effect to such dividend, distribution, or other transaction is at least $4.5 billion and the aggregate amount of such dividends, distributions or other transactions made under
this clause (c) (excluding, for the avoidance of doubt, any dividends, distributions or other transactions made under clause (b) above in such fiscal year) is less than or equal to $125 million in any fiscal year and is
funded solely by asset sale proceeds. Prior to the earlier of (1) the Guaranty Covenant Termination Date and (2) the date that is six years after the date of this Agreement, except as provided in clause (a) or (c) in the
preceding sentence, any net proceeds from the disposition of assets by Lease Guarantor or its subsidiaries in excess of $25 million that are directly or indirectly distributed to, or otherwise received by, Lease Guarantor in any fiscal year
shall not be used to fund any Restricted Payment. 
 17.4.5 Springing Covenants and Liens. 

17.4.5.1 If at any time prior to the Guaranty Covenant Termination Date, Lease Guarantor either (i) guaranties all or any portion of any
Opco First Lien Debt (any such guaranty, an “Opco Debt Guaranty”), and the obligations under any such Opco Debt Guaranty are at any time secured by any property directly owned by CEC or any Springing Lien Subsidiary of CEC or
(ii) causes all or any portion of the obligations under the Opco First Lien Debt to be at any time secured by any property directly owned by CEC or any Springing Lien Subsidiary of CEC (any and all such property in clauses
(i) and (ii), “Lease/Debt Guaranty Collateral”), then, in each such instance and for so long as any such Opco Debt Guaranty or Lease/Debt Guaranty Collateral is outstanding, Lease Guarantor shall, and shall cause
any and all other grantors of Lease/Debt Guaranty Collateral to grant, in the same security agreement documenting the grant of a security interest in the Lease/Debt Guaranty Collateral in favor of the Opco First Lien Debt (an “Opco First
Lien Debt Security Interest”), to Landlord a lien (a “Lease Guaranty Security Interest”) on all Lease/Debt Guaranty Collateral, which Lease Guaranty Security Interest shall secure all obligations of Lease Guarantor under
the Lease Guaranty and shall rank pari passu with the Opco First Lien Debt Security Interest; provided that if the Lease/Debt Guaranty Collateral is limited solely to a pledge of Lease Guarantor’s or any other such grantor’s
equity interest in CEOC, then neither Lease Guarantor nor any other such grantor shall be required to grant a Lease Guaranty Security Interest. Any Lease Guaranty Security Interest granted pursuant to this Section 17.4.5
shall be automatically released upon the earlier of (i) the Guaranty Covenant Termination Date and (ii) the release of the respective Opco First Lien Debt Security Interest (unless such release occurs in connection with a refinancing of
the applicable Opco First Lien Debt with a Non-Third Party Financing, in which case such Lease Guaranty Security Interest shall be automatically released upon the repayment or refinancing (other than with
other Non-Third Party Financing) of such Non-Third Party Financing). Any Lease Guaranty Security Interest shall be a “silent” security interest, and Landlord
shall have no voting, enforcement or default-related rights with 

  
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respect to such security interest unless and until the earlier of (x) the occurrence of a Lease Guarantor Event of Default and (y) the occurrence of any event that would permit the
holders of the applicable Opco First Lien Debt to take enforcement actions in respect of such Opco First Lien Debt Security Interest, at which time Landlord shall be permitted to exercise all rights available to a secured creditor with respect to
the Lease/Debt Guaranty Collateral, including all rights available to any holder of an Opco First Lien Debt Security Interest. Lease Guarantor shall cause the beneficiaries of any Opco First Lien Debt Security Interest to enter into and become bound
by an intercreditor agreement that is consistent with this provision and that is reasonably acceptable to Lease Guarantor and Landlord and containing, among other things, provisions governing the pari passu nature of any Opco First Lien Debt
Security Interest and Lease Guaranty Security Interest, and the “waterfall” by which any proceeds of, or collections on, the Lease/Debt Guaranty Collateral will be distributed on an equal and ratable basis as between the beneficiaries of
any Opco First Lien Debt Security Interest and Lease Guaranty Security Interest. 
 17.4.5.2 If at any time prior to the Guaranty Covenant
Termination Date, Lease Guarantor becomes obligated on any Opco Debt Guaranty or Opco First Lien Debt Security Interest (it being understood that a customary equity pledge solely of Lease Guarantor’s equity interests in CEOC shall not be deemed
to be an Opco First Lien Debt Security Interest, unless such pledge includes covenants other than those customary for a pledge of such type or specifically relating to the pledge of equity interests in CEOC (e.g., covenants concerning Lease
Guarantor’s or such other grantor’s existence and place of organization, other covenants relating to maintaining the validity, enforceability, perfection, and priority of the pledge and prohibitions of liens on the pledged collateral)),
and the obligations that are the subject of such Opco Debt Guaranty or Opco First Lien Debt Security Interest are refinanced at any time as part of a Non-Third Party Financing, then any covenant provisions
included in such Opco Debt Guaranty or Opco First Lien Debt Security Interest that are applicable to Lease Guarantor and its subsidiaries shall be automatically incorporated into this Agreement, mutatis mutandis, and shall apply to Lease
Guarantor and any such subsidiaries, for the benefit of Landlord hereunder. Any such covenants that are so incorporated into this Agreement shall automatically cease to apply to Lease Guarantor and any such subsidiaries upon the earlier of
(x) the Guaranty Covenant Termination Date and (y) the release of the respective Opco Debt Guaranty or Opco First Lien Debt Security Interest (unless such release occurs in connection with a refinancing of the applicable Opco First Lien
Debt with a Non-Third Party Financing, in which case such Lease Guaranty Security Interest shall be automatically released upon the repayment or refinancing (other than with other Non-Third Party Financing) of such Non-Third Party Financing). 

17.4.6 Lease Guaranty Unaffected. Each of the Parties acknowledges and agrees that the making of the Lease Guaranty by CEC to Landlord
was a material, critical and indispensable inducement to Landlord agreeing to enter into this Agreement and the other Lease/MLSA Related Agreements, and, but for the fact that CEC has delivered the Lease Guaranty to Landlord, Landlord would not have
entered into this Agreement or any of the other Lease/MLSA Related Agreements. For this and other reasons, it is the intent of the Parties that, other than as expressly provided in Section 17.3.5, the Lease Guaranty will
continue in full force and effect under any and all circumstances and shall not be terminated, released, impaired or reduced in any respect. 

  
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 17.5 Lease Guarantor Representations and Warranties. 

17.5.1 Corporate Existence; Compliance with Law. Lease Guarantor represents and warrants as of the date of this Agreement that Lease
Guarantor (i) is a corporation duly organized, validly existing, and in good standing under the laws of the state of Delaware; (ii) is duly qualified to do business and is in good standing under the laws of each jurisdiction where its
ownership or lease of property or the conduct of its business requires such qualification; and (iii) is in compliance with all Applicable Law where the failure to comply would reasonably be expected to have a materially adverse effect on Lease
Guarantor’s ability to pay the Guaranteed Obligations or perform its other obligations in accordance with the terms hereof. 
 17.5.2
Corporate Power; Authorization; Enforceable Guaranteed Obligations. The execution, delivery, and performance of the Lease Guaranty and all instruments and documents to be delivered by Lease Guarantor hereunder (i) are within Lease
Guarantor’s corporate powers, (ii) have been duly authorized by all necessary or proper corporate action, (iii) are not in contravention of any provision of Lease Guarantor’s articles or certificate of incorporation or by-laws, (iv) will not violate any law or regulations, or any order or decree of any court or governmental instrumentality, (v) will not conflict with or result in the breach of, or constitute a default
under, any indenture, mortgage, deed of trust, lease, agreement, or other instrument to which Lease Guarantor is a party or by which Lease Guarantor or any of its property is bound, except as would not reasonably be expected to have an adverse
effect on Lease Guarantor’s ability to perform its obligations hereunder, (vi) will not result in the creation or imposition of any lien upon any of the property of Lease Guarantor (except to the extent provided in
Section 17.4.5), and (vii) do not require the consent or approval of any governmental body, agency, authority, or any other person except those already obtained, except as would not reasonably be expected to have an
adverse effect on Lease Guarantor’s ability to perform its obligations hereunder. This Lease Guaranty is duly executed and delivered on behalf of Lease Guarantor and constitutes a legal, valid, and binding obligation of Lease Guarantor,
enforceable against Lease Guarantor in accordance with its terms (subject to any applicable principles of equity and bankruptcy, insolvency and other laws generally affecting creditors’ rights). 

17.6 Bankruptcy. 
 17.6.1
Lease Guarantor agrees and acknowledges that it shall not file a petition for relief as a debtor under any chapter of the Bankruptcy Code or any other bankruptcy, insolvency, debt composition, moratorium, receiver or similar federal or state laws
for the purpose of limiting its liability hereunder, including by operation of Section 502(b) of the Bankruptcy Code or similar provisions. Lease Guarantor further agrees and acknowledges that, if, notwithstanding the foregoing, it shall seek
any such relief, Lease Guarantor’s violation of this provision will constitute “cause” to dismiss any such proceeding, including under Section 1112 of the Bankruptcy Code, and Lease Guarantor will not and
will not attempt to (and will oppose any effort by any other party to) oppose any motion or request by Landlord or any other party to dismiss any such proceeding. 

  
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 17.6.2 Lease Guarantor further agrees and acknowledges that its guaranty of the Guaranteed
Obligations under this Agreement shall be fully enforceable against Lease Guarantor in any bankruptcy, insolvency, dissolution or other proceeding, and Lease Guarantor hereby represents, acknowledges and agrees that it will not and will not attempt
to (and will oppose any effort by any other party to) impair, reduce, cap, limit, or otherwise restrict the claims of Landlord in any such proceeding including, but not limited to, by operation of Section 502(b) of the Bankruptcy Code. 

17.6.3 Lease Guarantor further agrees and acknowledges that it will not and will not attempt to (and will oppose any effort by any other party
to) characterize in any bankruptcy, insolvency, dissolution or other proceeding Landlord’s claims to recover any Guaranteed Obligations as claims of a lessor for damages resulting from the termination of a lease of real property. 

ARTICLE XVIII 
 DISPUTE
RESOLUTION 
 18.1 Generally. 

18.1.1 Except for disputes specifically provided in this Agreement to be referred to Expert Resolution, all claims, demands, controversies,
disputes, actions or causes of action of any nature or character arising out of or in connection with, or related to, this Agreement, whether legal or equitable, known or unknown, contingent or otherwise shall be resolved in the United States
District Court for the Southern District of New York and any appellate courts thereto, or if federal jurisdiction is lacking, then in the state courts of New York State located in New York County. The Parties agree that service of process for
purposes of any such litigation or legal proceeding need not be personally served or served within the State of New York, but may be served with the same effect as if the Party in question were served within the State of New York, by giving notice
containing such service to the intended recipient (with copies to counsel) in the manner provided in Section 20.5. This provision shall survive and be binding upon the Parties after this Agreement is no longer in effect.

 18.1.2 If any dispute between or among any of the Parties or any of their respective Affiliates is pending in any state or federal court
located in the State of New York with respect to this Agreement, and any subsequent dispute arises between or among one or more Parties or any of their respective Affiliates which is not required by this Agreement to be referred to Expert Resolution
and is pending in any other state or federal court, the Parties shall (to the extent permissible under applicable rules) jointly move to consolidate such subsequent dispute in the same court (located in the State of New York) with the pending
dispute, and in the event that the court declines to consolidate the disputes (or consolidation is not permissible under applicable rules), the Parties shall request that the court refer the subsequent dispute to the judge presiding over

  
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the pending dispute as a related case, it being the intent of the Parties to keep any litigation relating to this Agreement within the same court to the fullest extent possible under the law.

 18.2 Expert Resolution. With respect to any dispute expressly provided herein to be submitted to an Expert pursuant to this
Agreement, any Party that is party to such dispute may require that the dispute be submitted to final and binding arbitration (without appeal or review) in New York, New York (“Expert Resolution”), administered by an independent
arbitration tribunal consisting of three (3) arbitrators, one of which is appointed by each Party and the third arbitrator shall be selected by the other two arbitrators (collectively, the “Expert”). Such Expert Resolution
shall be conducted by the American Arbitration Association in accordance with the Commercial Arbitration Rules of the American Arbitration Association. The Expert shall be a person having not less than ten (10) years’ experience in the
area of expertise on which the dispute is based and having no conflict of interest with either Party. With respect to any dispute to be submitted to an Expert pursuant to this Agreement, the use of the Expert shall be the exclusive remedy of the
Parties, and neither Party shall attempt to adjudicate such dispute in any other forum. The decision of the Expert shall be final and binding on the applicable Parties involved in such dispute and such Expert Resolution proceeding and shall not be
capable of challenge, whether by Expert Resolution, arbitration, in court or otherwise. 
 18.2.1 Related Disputes. 

18.2.1.1 Any two (2) or more disputes which are required to be submitted to an Expert under this Agreement shall be considered related
for purposes of this section if they involve the same or substantially similar issues of law or fact. In the event any Party to a dispute (the “Subsequent Related Dispute”) designates it as being related to a prior or pending
dispute (the “Prior Related Dispute”), the Subsequent Related Dispute shall be referred for resolution to the Expert to whom the Prior Related Dispute was referred (the “Initial Expert”). If a Party objects to the
designation of a Subsequent Related Dispute as being related to a Prior Related Dispute, the objection shall be resolved by the Initial Expert. If the Initial Expert concludes that the disputes are related, the Subsequent Related Dispute shall be
resolved by the Initial Expert in accordance with this Section 18.2, and to the extent practical, issues in the Subsequent Related Dispute that are the same or substantially similar as in the Prior Related Dispute, shall be
resolved in a manner consistent with the resolution of such issues in the Prior Related Dispute. If the Initial Expert concludes that the Subsequent Related Dispute is not related to the Prior Related Dispute, the Subsequent Related Dispute shall be
referred to an Expert selected in accordance with the introductory paragraph of this Section 18.2. 
 18.2.1.2
Notwithstanding anything to the contrary contained in this Agreement, if a claim is asserted involving an alleged Event of Default under this Agreement (a “Default Claim”), any and all issues, whether legal, factual or otherwise,
relating to such Default Claim shall be resolved exclusively by a state or federal court located in the State of New York in accordance with the provisions hereof regardless of whether any of such issues would otherwise be required to be referred to
an Expert for 

  
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resolution under a provision of this Agreement; provided that, subject to Section 18.2.3, any decision by an Expert made in accordance with this Agreement which
was rendered prior to the assertion of a Default Claim and which relates to such Default Claim shall be considered final and binding in any court proceeding involving such Default Claim, it being the intent and understanding of the Parties that,
except for specific issues that were determined by an Expert before a Default Claim is asserted, all issues relating to such Default Claim shall be resolved exclusively by the court in the action or proceeding involving the Default Claim. 

18.2.2 Restrictions on Expert. THE EXPERT SHALL HAVE NO AUTHORITY TO VARY OR IGNORE THE TERMS OF THIS AGREEMENT, INCLUDING SECTION
18.7.5, AND SHALL BE BOUND BY APPLICABLE LAW. ALL PROCEEDINGS, AWARDS AND DECISIONS UNDER ANY EXPERT RESOLUTION PROCEEDING SHALL BE STRICTLY PRIVATE AND CONFIDENTIAL, EXCEPT AS MAY BE NECESSARY TO ENFORCE THE SAME. 

18.2.3 Landlord and Expert Resolution. For the avoidance of doubt and without limiting Section 2.5 in any
manner, and notwithstanding anything to the contrary in this Agreement, the Parties acknowledge that (i) any determination made by an Expert under this Agreement that does not involve any rights or obligations of Landlord hereunder shall not be
binding on Landlord, (ii) any determination made by an Expert under this Agreement that involves any rights or obligations of Landlord hereunder shall not be binding on Landlord unless Landlord was provided with the similar opportunity to
participate therein as the other parties thereto, (iii) to the extent the applicable dispute covers issues that are also in dispute under the Lease as to which the Lease does not subject such dispute to arbitration, then the provisions, terms
and conditions of the Lease shall govern and such dispute shall not be required to be submitted to Expert Resolution and (iv) to the extent the applicable dispute covers issues that are also in dispute under the Lease as to which the Lease
subjects such dispute to arbitration, then the provisions, terms and conditions of the Lease shall govern and such arbitration shall be conducted in accordance with the applicable provisions in the Lease. 

18.3 Time Limit. With respect to any dispute required hereunder to be submitted to Expert Resolution, such Expert Resolution of a
dispute must be commenced within twelve (12) months from the date on which a Party first gave written notice to the other applicable Party of the existence of the dispute, and any Party who fails to commence litigation or Expert Resolution
within such twelve (12) month period shall be deemed to have waived any of its affirmative rights and claims in connection with the dispute and shall be barred from asserting such rights and claims at any time thereafter except as a defense to
any related or similar claims subsequently raised by the other party. An Expert Resolution shall be deemed commenced by a Party when the Party sends a notice to the other Party and to the American Arbitration Association, identifying the dispute and
requesting Expert Resolution. Litigation shall be deemed commenced by a Party when the Party serves a complaint (or, as the case may be, a counterclaim) on the other Party with respect to the dispute. For the avoidance of doubt, the foregoing shall
not be construed to require the commencement within any particular period of time of any litigation involving disputes that are not required hereunder to be submitted to Expert Resolution. 

  
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 18.4 Prevailing Party’s Expenses. The prevailing Party in any Expert
Resolution, litigation or other legal action or proceeding arising out of, in connection with or related to this Agreement shall be entitled to recover from the losing Party all reasonable fees, costs and expenses incurred by the prevailing Party in
connection with such Expert Resolution, litigation or other legal action or proceeding (including any appeals and actions to enforce any Expert Resolution awards and court judgments), including reasonable fees, expenses and disbursements for
attorneys, experts and other third parties engaged in connection therewith and its share of the fees and costs of the Expert. If a Party prevails on some, but not all, of its claims, such Party shall be entitled to recover an equitable amount of
such fees, expenses and disbursements, as determined by the applicable Expert(s) or court. All amounts recovered by the prevailing Party under this Section 18.4 shall be separate from, and in addition to, any other amount
included in any Expert Resolution award or judgment rendered in favor of such Party. 
 18.5 WAIVERS. 

18.5.1 JURISDICTION AND VENUE. EACH PARTY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ALL DEFENSES BASED ON LACK OF JURISDICTION OR
INCONVENIENT VENUE OR FORUM FOR ANY LITIGATION OR OTHER LEGAL ACTION OR PROCEEDING PURSUED BY ANY OTHER PARTY IN THE JURISDICTION AND VENUE SPECIFIED IN SECTION 18.1. 

18.5.2 TRIAL BY JURY. EACH PARTY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, TRIAL BY JURY OF ALL CLAIMS ARISING OUT OF OR RELATING
TO THIS AGREEMENT. 
 18.5.3 [RESERVED] 

18.5.4 DECISIONS IN PRIOR CLAIMS. SUBJECT TO SECTION 18.2.1.2, EACH PARTY AGREES THAT IN ANY EXPERT
RESOLUTION OR LITIGATION BETWEEN THE PARTIES, THE EXPERT(S) OR COURT SHALL NOT BE PRECLUDED FROM MAKING ITS OWN INDEPENDENT DETERMINATION OF THE ISSUES IN QUESTION, NOTWITHSTANDING THE SIMILARITY OF ISSUES IN ANY OTHER EXPERT RESOLUTION OR
LITIGATION INVOLVING MANAGER OR ANY OF ITS AFFILIATES, AND EACH PARTY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ALL RIGHTS TO CLAIM THAT A PRIOR DISPOSITION OF THE SAME OR SIMILAR ISSUES PRECLUDES SUCH INDEPENDENT DETERMINATION. 

18.5.5 PUNITIVE, CONSEQUENTIAL AND CERTAIN OTHER DAMAGES. NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS AGREEMENT OR UNDER
APPLICABLE LAW, IN ANY EXPERT RESOLUTION, LAWSUIT, LEGAL ACTION OR PROCEEDING BETWEEN ANY OF THE PARTIES 

  
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ARISING FROM OR RELATING TO THIS AGREEMENT, THE PARTIES UNCONDITIONALLY AND IRREVOCABLY WAIVE AND DISCLAIM TO THE FULLEST EXTENT PERMITTED UNDER APPLICABLE LAW ALL RIGHTS TO ANY CONSEQUENTIAL,
LOST PROFITS, PUNITIVE, EXEMPLARY, STATUTORY OR TREBLE DAMAGES (OTHER THAN, AS TO ALL SUCH FORMS OF DAMAGES, (I) STATUTORY RIGHTS; (II) ANY GUARANTEED OBLIGATIONS ARISING UNDER THE LEASE OR THE GOLF COURSE USE AGREEMENT; AND/OR
(III) A CLAIM FOR RECOVERY OF ANY SUCH DAMAGES THAT THE CLAIMING PARTY IS REQUIRED BY A COURT OF COMPETENT JURISDICTION OR THE EXPERT TO PAY TO A THIRD PARTY), AND ACKNOWLEDGE AND AGREE THAT THE RIGHTS AND REMEDIES IN THIS AGREEMENT, AND ALL
OTHER RIGHTS AND REMEDIES AT LAW AND IN EQUITY, WILL BE ADEQUATE IN ALL CIRCUMSTANCES FOR ANY CLAIMS THE PARTIES MIGHT HAVE WITH RESPECT TO DAMAGES. 

18.6 Survival and Severance. This Article XVIII shall survive the expiration or termination of this
Agreement. The provisions of this Article XVIII are severable from the other provisions of this Agreement and shall survive and not be merged into any termination or expiration of this Agreement or any judgment or award
entered in connection with any dispute, regardless of whether such dispute arises before or after termination or expiration of this Agreement, and regardless of whether the related Expert Resolution or litigation proceedings occur before or after
termination or expiration of this Agreement. If any part of this Article XVIII is held to be unenforceable, it shall be severed and shall not affect either the duties to submit any dispute to Expert Resolution or any other
part of this Article XVIII. 
 18.7 ACKNOWLEDGEMENTS. 

TENANT AND MANAGER EACH ACKNOWLEDGE AND CONFIRM TO THE OTHER THAT: 

18.7.1 INFORMED INVESTOR. THE ACKNOWLEDGING PARTY HAS HAD THE BENEFIT OF LEGAL COUNSEL AND ALL OTHER ADVISORS DEEMED NECESSARY OR
ADVISABLE TO ASSIST IT IN THE NEGOTIATION AND PREPARATION OF THIS AGREEMENT, AND THE OTHER PARTY’S ATTORNEYS HAVE NOT REPRESENTED THE ACKNOWLEDGING PARTY, OR PROVIDED ANY LEGAL COUNSEL OR OTHER ADVICE TO THE ACKNOWLEDGING PARTY, WITH RESPECT TO
THIS AGREEMENT. 
 18.7.2 BUSINESS RISKS. THE ACKNOWLEDGING PARTY (A) IS A SOPHISTICATED PERSON, WITH SUBSTANTIAL EXPERIENCE IN
THE OWNERSHIP AND OPERATION OF COMMERCIAL DEVELOPMENT PROJECTS; (B) RECOGNIZES THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT INVOLVE SUBSTANTIAL BUSINESS RISKS; AND (C) HAS MADE AN INDEPENDENT INVESTIGATION OF ALL ASPECTS OF THIS
AGREEMENT SUCH PARTY DEEMS NECESSARY OR ADVISABLE. 

  
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 18.7.3 NO ADDITIONAL REPRESENTATIONS OR WARRANTIES. NO PARTY HAS MADE ANY PROMISES,
REPRESENTATIONS, WARRANTIES OR GUARANTIES OF ANY KIND WHATSOEVER TO ANY OTHER PARTY WITH RESPECT TO THE SUBJECT MATTER OF THIS AGREEMENT, EXCEPT AS SPECIFICALLY SET FORTH IN THIS AGREEMENT, AND NO PERSON IS AUTHORIZED TO MAKE ANY PROMISES,
REPRESENTATIONS, WARRANTIES OR GUARANTIES ON BEHALF OF A PARTY WITH RESPECT TO THE SUBJECT MATTER OF THIS AGREEMENT, EXCEPT AS SPECIFICALLY SET FORTH IN THIS AGREEMENT. 

18.7.4 NO RELIANCE. NO PARTY HAS RELIED UPON ANY STATEMENTS OR PROJECTIONS OF REVENUE, SALES, EXPENSES, INCOME, GAMING WIN, RATES,
AVERAGE DAILY RATE, CONTRIBUTION, PROFITABILITY, VALUE OF THE MANAGED FACILITIES OR SIMILAR INFORMATION PROVIDED BY ANY OTHER PARTY BUT HAS INDEPENDENTLY CONFIRMED THE ACCURACY AND RELIABILITY OF ANY SUCH INFORMATION AND IS SATISFIED WITH THE
RESULTS OF SUCH INDEPENDENT CONFIRMATION. 
 18.7.5 LIMITATION ON FIDUCIARY DUTIES. TO THE EXTENT ANY FIDUCIARY DUTIES THAT MAY EXIST
AS A RESULT OF THE RELATIONSHIP OF THE PARTIES ARE INCONSISTENT WITH, OR WOULD HAVE THE EFFECT OF EXPANDING, MODIFYING, LIMITING OR RESTRICTING ANY OF THE EXPRESS TERMS OF THIS AGREEMENT, (A) THE EXPRESS TERMS OF THIS AGREEMENT SHALL CONTROL
AND (B) ANY LIABILITY OF THE PARTIES FOR MONETARY DAMAGES OR MONETARY RELIEF SHALL BE BASED SOLELY ON PRINCIPLES OF CONTRACT LAW AND THE EXPRESS TERMS OF THIS AGREEMENT. ACCORDINGLY, NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS AGREEMENT,
TO THE FULLEST EXTENT PERMITTED UNDER APPLICABLE LAW, THE PARTIES HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVE AND DISCLAIM ANY POWER OR RIGHT SUCH PARTY MAY HAVE TO CLAIM ANY PUNITIVE, EXEMPLARY, STATUTORY OR TREBLE DAMAGES OR CONSEQUENTIAL OR
INCIDENTAL DAMAGES FOR ANY BREACH OF FIDUCIARY DUTIES. 
 18.8 IRREVOCABILITY OF CONTRACT. IN ORDER TO REALIZE THE FULL BENEFITS
CONTEMPLATED BY THE PARTIES, THE PARTIES INTEND THAT THIS AGREEMENT SHALL BE NON-TERMINABLE, EXCEPT FOR THE SPECIFIC TERMINATION PROVISIONS SET FORTH IN THIS AGREEMENT. ACCORDINGLY, NOTWITHSTANDING ANYTHING TO
THE CONTRARY IN THIS AGREEMENT, TO THE FULLEST EXTENT PERMITTED UNDER APPLICABLE LAW, THE PARTIES HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVE AND DISCLAIM ALL RIGHTS TO TERMINATE THIS AGREEMENT AT LAW OR IN EQUITY, EXCEPT AS EXPRESSLY SET FORTH IN
THIS AGREEMENT. 

  
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 18.9 Survival. The provisions of this Article XVIII shall
survive the expiration or termination of this Agreement. 
 ARTICLE XIX 

GAMING LAW PROVISIONS 

19.1 Regulatory Matters; Initial Suitability Review. 

19.1.1 Manager’s Regulatory Environment. Tenant acknowledges that Manager, CEC, Landlord and their respective
Affiliates (a) conduct business in an industry that is subject to and exists because of privileged licenses issued by Governmental Authorities in multiple jurisdictions, (b) are subject to extensive Gaming regulation and oversight, and are
required to adhere to strict laws and regulations regarding vendor and other business relationships, and (c) have adopted strict internal controls and compliance policies governing their own activities and those of certain parties with whom
they do business. 
 19.1.2 Suitability Investigations. As an initial matter, Tenant acknowledges and agrees that Manager, CEC and
their respective Affiliates must perform a background check, suitability review and such other due diligence with respect to the Subject Group, but excluding Manager and its Affiliates and those individuals associated with Tenant previously subject
to CEC’s suitability review, as required under applicable Gaming Regulations and/or the corporate policies of Manager, CEC and their respective Affiliates. Accordingly, Tenant hereby (a) acknowledges and understands that Manager, CEC and
their respective Affiliates must perform such investigations and inquiries with respect to the Subject Group regarding the financial and credit condition, the existence and status of any litigation, criminal proceedings and convictions, character
and personal qualifications of any such Person, (b) agrees to promptly provide the information regarding the Subject Group required by the “Caesars Entertainment Corporation and its Related Affiliates Business Information Form (Revised
November 1, 2016)” and such other information as is reasonably requested by Manager, CEC or their respective Affiliates for such purposes, and (c) agrees to cooperate with Manager, CEC and their respective Affiliates in the completion
of its due diligence and Gaming suitability and background checks of the Subject Group. Manager acknowledges receipt and completion of such investigation and inquiries on the persons or entities within the Subject Group as of the date of this
Agreement. 
 19.2 Licensing Event. If there shall occur a Licensing Event, then the Party with respect to which such Licensing Event
occurs shall notify the other Parties, as promptly as practicable after becoming aware of such Licensing Event (but in no event later than twenty (20) days after becoming aware of such Licensing Event). In such event, the Party with respect to
which such Licensing Event has occurred, shall and shall cause any applicable Affiliates to use commercially reasonable efforts to resolve such Licensing Event within the time period required by the applicable Gaming Authorities by submitting to
investigation by the relevant Gaming Authorities and cooperating with any reasonable requests made by such Gaming Authorities (including filing requested forms 

  
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and delivering information to the Gaming Authorities). If the Party with respect to which such Licensing Event has occurred cannot otherwise resolve the Licensing Event within the time period
required by the applicable Gaming Authorities and any aspect of such Licensing Event is attributable to any Person(s) other than such Party, then such Party shall disassociate with the applicable Persons to resolve the Licensing Event. 

19.3 Unlawful Payments. No Party, and no Person for or on behalf of such Party, shall make, and each Party acknowledges that no other
Party will make, any expenditure for any unlawful purposes in the performance of its obligations under this Agreement and in connection with its activities in relation thereto. No Party, and no Person for or on behalf of such Party, shall, and each
Party acknowledges that no other Party will, make any illegal offer, payment or promise to pay, authorize the payment of any money, or offer, promise or authorize the giving of anything of value, to (a) any government official, any political
party or official thereof, or any candidate for political office; or (b) any other Person while knowing or having reason to know that all or a portion of such money or thing of value will be offered, given, or promised, directly or indirectly,
to any such official, to any such political party or official thereof, or to any candidate for political office for the purpose of (i) influencing any action or decision of such official party or official thereof, or candidate in his or its
capacity, including a decision to fail to perform his or its official functions; or (ii) inducing such official party or official thereof, or candidate to use his or its influence with any Governmental Authority to effect or influence any act
or decision of such Governmental Authority. Each Party represents and warrants to the other Party that no government official and no candidate for political office has any direct or indirect ownership or investment interest in the revenues or profit
of such Party or the Managed Facilities (other than with respect to any direct or indirect owner of or investor in a Person (x) the stock of which is traded on a publicly traded exchange or (y) that has a class of securities registered
with the Securities Exchange Commission). For purposes of this Section 19.3, CLC shall be a “Party”. 

ARTICLE XX 
 GENERAL
PROVISIONS 
 20.1 Governing Law. This Agreement shall be construed under the internal laws of the State of New York, without
regard to any conflict of law principles. 
 20.2 Construction of this Agreement. The Parties and CLC (which shall be deemed a
“Party” for purposes of this Section 20.2) intend that the following principles (and no others not consistent with them) be applied in construing and interpreting this Agreement: 

20.2.1 Presumption Against a Party. The terms and provisions of this Agreement shall not be construed against or in favor of a Party
hereto merely because such Party is Manager hereunder or such Party or its counsel is the drafter of this Agreement. 

  
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 20.2.2 Certain Words and Phrases. All words in this Agreement shall be deemed to include
any number or gender as the context or sense of this Agreement requires. The words “will,” “shall,” and “must” in this Agreement indicate a mandatory obligation. The use of the words “include,”
“includes,” and “including” followed by one (1) or more examples is intended to be illustrative and is not a limitation on the scope of the description or term for which the examples are provided. All dollar amounts set
forth in this Agreement are stated in U.S. dollars, unless otherwise specified. The words “day” and “days” refer to calendar days unless otherwise stated. The words “month” and “months” refer to calendar
months unless otherwise stated. The words “hereof”, “hereto” and “herein” refer to this Agreement, and are not limited to the article, section, paragraph or clause in which such words are used. If the Operating Year is
a fiscal year other than a calendar year, all references in this Agreement to January 1 shall mean the first day of such fiscal year. 

20.2.3 Headings. The table of contents, headings and captions contained herein are for the purposes of convenience and reference only
and are not to be construed as a part of this Agreement. All references to any article, section, exhibit or schedule in this Agreement are to articles, sections, exhibits or schedules of this Agreement, unless otherwise noted. 

20.2.4 Approvals. Unless expressly stated otherwise in this Agreement, whenever a matter is submitted to a Party for approval or
consent in accordance with the terms of this Agreement, that Party has a duty to act reasonably and timely in rendering a decision on the matter. 

20.2.5 Entire Agreement. This Agreement (including the attached Exhibits and Schedules), together with the Lease and the other
applicable Lease/MLSA Related Agreements, constitutes the entire agreement between the Parties with respect to the subject matter contemplated herein and supersedes all prior agreements and understandings, written or oral. No undertaking, promise,
duty, obligation, covenant, term, condition, representation, warranty, certification or guaranty shall be deemed to have been given or be implied from anything said or written in negotiations between the Parties prior to the execution of this
Agreement, except as expressly set forth in this Agreement. No Party shall have any remedy in respect of any untrue statement made by any other Party on which that Party relied in entering into this Agreement (unless such untrue statement was made
fraudulently), except to the extent that such statement is expressly set forth in this Agreement. 
 20.2.6 Third-Party Beneficiary.
Except as set forth in Section 12.3, no third-party that is not a Party hereunder shall be a beneficiary of Tenant’s or Manager’s rights or benefits under this Agreement; provided that Services Co and its
Affiliates shall be an express beneficiary of this Agreement to the extent related to the Managed Facilities IP or to other Intellectual Property rights or confidential information owned by Services Co, and any other provision of this Agreement that
specifically identifies Services Co. 

  
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 20.2.7 Remedies Cumulative. Except as otherwise expressly provided in this Agreement, the
remedies provided in this Agreement are cumulative and not exclusive of the remedies provided by Applicable Law, and a Party’s exercise of any one or more remedies for any default shall not preclude the Party from exercising any other remedies
at any other time for the same default. 
 20.2.8 Amendments. Neither this Agreement nor any of its terms or provisions may be
amended, modified, changed, waived or discharged, except: (a) for the avoidance of doubt, for Manager’s right to make changes to the Total Rewards Program and Centralized Services as and to the extent expressly permitted under this
Agreement, (b) as between Manager and Tenant, as set forth in Sections 5.1.7, 5.12 and 10.4 and (c) by an instrument in writing signed by each Party hereto. 

20.2.9 Survival. The expiration or termination of this Agreement does not terminate or affect Tenant’s, Manager’s, Lease
Guarantor’s or Landlord’s covenants and obligations that expressly survive the expiration or termination of this Agreement. This Section 20.2.9 shall survive the expiration or termination of this Agreement. 

20.3 Limitation on Liabilities. 

20.3.1 Projections in Annual Budget. Tenant acknowledges that: (a) all budgets and financial projections prepared by Manager or
its Affiliates prior to the date of this Agreement or under this Agreement, including the Annual Budget, are intended to assist in Operating the Managed Facilities, but are not to be relied on by Tenant or any third-party as to the accuracy of the
information or the results predicted therein; and (b) Manager does not guarantee the accuracy of the information nor the results in such budgets and projections. Accordingly (except as may be provided in any agreement with such third party to
which Manager is a party), Tenant agrees that (i) neither Manager nor its Affiliates shall be liable to Tenant or any third-party for divergence between such budgets and projections and actual operating results achieved except as otherwise
provided in this Agreement, including limits on incurring expenses; (ii) the failure of the Managed Facilities to achieve any Annual Budget for any Operating Year shall not constitute a default by Manager or give Tenant the right to terminate
this Agreement; and (iii) if Tenant provides any such budgets or projections to a third-party, Tenant shall advise such third-party in writing of the substance of the disclaimer of liability set forth in this
Section 20.3.1 (provided that Tenant’s failure to do so shall not be a breach or default hereunder, although such failure by Tenant shall not expand Manager’s liability hereunder). Manager represents that
it shall prepare all budgets and financial projections and operating plans prepared by Manager under this Agreement in good faith based upon Manager’s experience and knowledge. 

20.3.2 Approvals and Recommendations. Each Party acknowledges that in granting any consents, approvals or authorizations under this
Agreement, and in providing any advice, assistance, recommendation or direction under this Agreement, neither such Party nor any Affiliates guarantee success or a satisfactory result from the subject of such consent, approval, authorization, advice,
assistance, recommendation or direction. Accordingly, each Party agrees that neither such Party nor any of its Affiliates 

  
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shall have any liability whatsoever to any other Party or any third person by reason of: (a) any consent, approval or authorization, or advice, assistance, recommendation or direction, given
or withheld; or (b) any delay or failure to provide any consent, approval or authorization, or advice, assistance, recommendation or direction (except in the event of a breach of a covenant herein not to unreasonably withhold or delay any
consent or approval); provided, however, that each agrees to act in good faith when dealing with or providing any advice, consent, assistance, recommendation or direction. 

20.3.3 Technical Advice. Tenant acknowledges that any review, advice, assistance, recommendation or direction provided by Manager with
respect to the design, construction, equipping, furnishing, decoration, alteration, improvement, renovation or refurbishing of the Managed Facilities (a) is intended solely to assist Tenant in the development, construction, maintenance, repair
and upgrading of the Managed Facilities and Tenant’s compliance with its obligations under this Agreement; and (b) does not constitute any representation, warranty or guaranty of any kind whatsoever that (i) there are no errors in the
plans and specification, (ii) there are no defects in the design of construction of the Managed Facilities or installation of any building systems or FF&E therein or (iii) the plans, specifications, construction and installation work
will comply with all Applicable Laws (including laws or regulations governing public accommodations for Individuals with disabilities). Accordingly, Tenant agrees that neither Manager nor its Affiliates shall have any liability whatsoever to Tenant
or any third-party for any (A) errors in the plans and specifications; (B) defects in the design of construction of the Managed Facilities or installation of any building systems or FF&E therein; or (C) noncompliance with any
engineering and structural design standards or Applicable Laws. 
 20.4 Waivers. Except as set forth in
Section 18.3 of this Agreement, no failure or delay by a Party to insist upon the strict performance of any term of this Agreement, or to exercise any right or remedy consequent on a breach thereof, shall constitute a
waiver of any breach or any subsequent breach of such term. No waiver of any default shall alter this Agreement, but each and every term of this Agreement shall continue in full force and effect with respect to any other then existing or subsequent
breach. 
 20.5 Notices. All notices, consents, determinations, requests, approvals, demands, reports, objections, directions and
other communications required or permitted to be given under this Agreement shall be in writing and delivered by: (a) personal delivery; (b) overnight DHL, FedEx, UPS or other similar courier service; or (c) confirmed facsimile
transmission (provided that a copy of such facsimile transmission together with confirmation of such facsimile transmission is delivered to the addressee in the manner provided in clause (a) or (b) above by no
later than the second (2nd) Business Day following such transmission, addressed to the Parties at the addresses specified below, or at such other address as the Party to whom the notice is sent has designated in accordance with this
Section 20.5), and shall be deemed to have been received by the Party to whom such notice or other communication is sent upon (i) delivery to the address (or facsimile number) of the recipient Party; provided
that such delivery is made prior to 5:00 p.m. (local time for the recipient Party) on a Business Day, otherwise the following Business Day; or (ii) the attempted delivery of such Notice if such recipient

  
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Party refuses delivery, or such recipient Party is no longer at such address (or facsimile number), and failed to provide the sending Party with its current address pursuant to this
Section 20.5 (unless the sending Party had actual knowledge of such current address). Notwithstanding the foregoing, any notice or other communication delivered to a Party by email that is actually received by such Party
(and for which such Party has sent an acknowledgement of receipt by return email that was not automatically generated) shall be deemed to have been sufficiently given for purposes of this Agreement and shall be deemed to have been received at the
time described in clause (i) above, as if such notice had been delivered by one of the methods described in clauses (a) through (c) above. Notwithstanding anything to the contrary contained in this Agreement, if
any documents or materials delivered under this Agreement are delivered by email (with confirmation of receipt from the intended recipient that was not automatically generated), no additional copies of such documents or materials shall be required
to be delivered. 

  
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 TENANT: 

CEOC, LLC 
 One Caesars Palace
Drive 
 Las Vegas, NV 89109 

Attention: General Counsel 

Email: corplaw@caesars.com 

MANAGER: 
 Non-CPLV Manager, LLC 
 One Caesars Palace Drive 

Las Vegas, NV 89109 
 Attention:
General Counsel 
 Email: corplaw@caesars.com 

LANDLORD: 
 c/o VICI Properties
Inc. 
 8329 West Sunset Road, Suite 210 

Las Vegas, NV 89113 
 Attention:
General Counsel 
 Facsimile: corplaw@viciproperties.com 

LEASE GUARANTOR: 
 Caesars
Entertainment Corporation 
 One Caesars Palace Drive 

Las Vegas, NV 89109 

Attention: General Counsel 

Email: corplaw@caesars.com 

20.6 No Indirect Actions. Unless otherwise expressly stated, if a Party may not take an action under this Agreement, then it may not
take that action indirectly, or assist or support any other Person in taking that action directly or indirectly. “Taking an action indirectly” means taking an action that is not expressly prohibited for the Party but is intended to have
substantially the same effects as the prohibited action. 
 20.7 No Recordation. Neither this Agreement nor any memorandum hereof
shall be recorded against the Leased Property (including against any one or more of the Managed Facilities or any portion thereof), and Tenant is hereby granted a power of attorney (which power is coupled with an interest and shall be irrevocable)
to execute and record on behalf of Manager a notice or memorandum removing this Agreement or such memorandum of this Agreement from the public records or evidencing the termination hereof (as the case may be). 

  
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 20.8 Further Assurances. The Parties shall do and cause to be done all such acts, matters
and things and shall execute and deliver all such documents and instruments as shall be required to enable the Parties to perform their respective obligations under, and to give effect to the transactions contemplated by, this Agreement. 

20.9 Relationship of Certain Parties. 

20.9.1 Tenant and Manager acknowledge and agree that (a) the relationship between Tenant and Manager shall be that of principal (in the
case of Tenant) and agent (in the case of Manager), which relationship may not be terminated by Tenant except in strict accord with the termination provisions of this Agreement; (b) Manager shall have the authority to bind Tenant with respect
to third Persons to the extent Manager is performing its obligations under and consistent with this Agreement; (c) Manager’s agency established with Tenant is, and is intended to be, an agency coupled with an interest; and (d) this
Agreement does not create joint venturers, partners or joint tenants with respect to the Managed Facilities. Tenant and Manager further acknowledge and agree that in Operating the Managed Facilities, including entering into leases and contracts,
accepting reservations, and conducting financial transactions for the Managed Facilities, (i) Manager assumes no independent contractual liability; and (ii) Manager shall have no obligation to extend its own credit with respect to any
obligation incurred in Operating the Managed Facilities or performing its obligation under this Agreement. 
 20.9.2 Each of the Parties
agrees that nothing in this Agreement shall be construed as creating a partnership, joint venture, joint tenancy or similar relationship between any of the Parties. 

20.10 Force Majeure. Subject to the last sentence of this Section 20.10, in the event of a Force
Majeure Event, the obligations of the Parties and the time period for the performance of such obligations (other than an obligation to pay any amount hereunder) shall be extended for each day that such Party is prevented, hindered or delayed in such
performance during the period of such Force Majeure Event, except as expressly provided otherwise in this Agreement. Upon the occurrence of a Force Majeure Event, the affected Party shall give prompt notice of such Force Majeure Event to the other
Party. If Manager is unable to perform its obligations under this Agreement due to a Force Majeure Event, or Manager reasonably deems it necessary to close and cease the Operation of all or any portion of one or more of the Managed Facilities due to
a Force Majeure Event in order to protect the Managed Facilities or the health, safety or welfare of its guests or Managed Facilities Personnel, then, subject to the provisions, terms and conditions of the Lease, Manager may close or cease Operation
of all or a portion of such Managed Facilities for such time and in such manner as Manager reasonably deems necessary as a result of such Force Majeure Event, and reopen or recommence the Operation of the Managed Facilities when Manager again is
able to perform its obligations under this Agreement, and determines that there is no unreasonable risk to the Managed Facilities or health, safety or welfare or its guests or Managed Facilities Personnel. Notwithstanding the foregoing, for the
avoidance of doubt, neither the occurrence of a Force Majeure Event nor the taking of any action by Manager in 

  
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accordance with this Section 20.10 shall (i) result in the termination or derogation of Lease Guarantor’s obligations in accordance with the terms of this
Agreement in any respect, or (ii) without limiting Section 2.5 in any manner, be deemed to vitiate, limit or supersede any of the provisions, terms or conditions of the Lease. 

20.11 Terms of Other Management Agreements. Manager makes no representation or warranty that any past or future forms of its management
agreement do or will contain terms substantially similar to those contained in this Agreement. In addition, Tenant acknowledges and agrees that Manager may, due to local business conditions or otherwise, waive or modify any comparable terms of other
management agreements heretofore or hereafter entered into by Manager or its Affiliates; provided, however, for the avoidance of doubt, that nothing contained in this Section 20.11 shall be deemed to vitiate,
limit or supersede Manager’s obligation to manage the Operation of the Managed Facilities in a Non-Discriminatory manner, in accordance with the Operating Standard and subject to Manager’s Standard
of Care. 
 20.12 Compliance with Law. Tenant and Manager shall each exercise their respective rights, perform their respective
obligations and take all other actions required or permitted to be taken by each of them hereunder in compliance with all Applicable Laws. 

20.13 Insurance Programs and Purchasing Arrangements Generally. The Parties hereby agree that Manager and its Affiliates shall
administer, implement and make available to Tenant and the Managed Facilities, the Insurance Programs and any multi-party purchasing programs and arrangements contemplated hereunder on commercially reasonable terms and on a Non-Discriminatory basis and in such a manner that, in each case, there shall be no (i) mark-up, margin or other premium charged or otherwise passed through to Tenant in
connection therewith (except as may be payable to a third party), and (ii) duplication of any reimbursable expense otherwise payable by Tenant to Manager or its Affiliates. 

20.14 Execution of Agreement. This Agreement may be executed in counterparts, each of which when executed and delivered shall be deemed
an original, and such counterparts together shall constitute one and the same instrument. 
 20.15 Lease. Without limiting
Manager’s rights set forth in this Agreement, Tenant shall, (a) not terminate the Lease, (b) comply in all respects with its base rent payments, variable rent payments and all other payment obligations set forth in the Lease,
(c) otherwise comply in all material respects with the terms and conditions of the Lease and (d) not suffer an Assignment of Tenant’s interest in the Lease except pursuant to an Assignment permitted under the Lease that, except in the
case of a Leasehold Foreclosure with MLSA Termination, is entered into concurrently with an Assignment of Tenant’s interest in this Agreement that is otherwise permitted by this Agreement and which includes the Managed Facilities. Tenant shall
provide prompt written notice to Manager and Lease Guarantor of the receipt of any written notice from Landlord (or any Landlord’s Lender) delivered pursuant to the Lease, including any notice of breach under the Lease or any termination notice
delivered under the Lease, in each case including a copy of the relevant notice. Notwithstanding anything to the contrary herein, this Section 20.15 is only for the benefit of Manager (and not Landlord). 

  
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 20.16 Omnibus Agreement; Services Co LLC Agreement. The Parties agree that any amendment,
restatement, supplement or other modification of the Omnibus Agreement or of the Services Co LLC Agreement made from or after the Commencement Date that is (i) by its own terms, not Non-Discriminatory as
to any individual Managed Facility, (ii) not Non-Discriminatory to the Managed Facilities and the Joliet Managed Facility, taken as a whole, (iii) reasonably likely to result in a level of service or
quality of Operation of the Managed Facilities (or of any one of them) that does not meet the Operating Standard, or (iv) reasonably likely to materially and adversely affect the Managed Facilities (or any of them), shall, solely with respect
to Tenant and the Managed Facilities, be void and of no effect, absent the express written consent of Landlord. For purposes of this Section 20.16, each of CLC and Services Co shall be a “Party”. 

ARTICLE XXI 
 NON-CONSENTED LEASE TERMINATION 
 21.1 Non-Consented Lease
Termination. The Parties agree that: 
 21.1.1 Notwithstanding anything contained herein to the contrary (and notwithstanding any
termination of this Agreement) (and without vitiating, limiting or superseding Section 1.3 hereof in any respect), in the event the Lease is terminated prior to the Stated Expiration Date, in whole or in part, for any
reason whatsoever (other than as a result of an Excluded Termination, solely to the extent that the express terms of the applicable provisions in respect of an Excluded Termination provide for the termination of the Lease in whole or in part, it
being understood, for the avoidance of doubt, that if the Lease is terminated in part as a result of an Excluded Termination, any subsequent termination of the Lease prior to the Stated Expiration Date, in whole or in part, shall continue to be
subject to the provisions of this Article XXI), other than expressly in writing by Landlord (including a termination of the Lease expressly in writing by Landlord due to a Tenant Lease Event of Default) or with the express written consent of
Landlord (in its sole and absolute discretion), including, without limitation, by a rejection in any bankruptcy, insolvency or dissolution proceedings (any of the foregoing, a “Non-Consented Lease
Termination”), then, unless either (i) Landlord (or, during the continuation of any event of default under any Landlord Financing, any Landlord’s Lender) shall expressly elect otherwise in writing and expressly consent (in its
sole and absolute discretion) in writing to the termination of the Lease, or (ii) a New Lease is successfully entered into in accordance with Section 17.1(f) of the Lease, and, in connection therewith, all applicable provisions of the
Lease (including Section 22.2(i)(1) through (5) thereof shall have been complied with in all respects), and, without limitation, if the provisions of Section 22.2(i)(1)(A) of the Lease have been complied with, a Replacement
Guaranty is made by a Qualified Replacement Guarantor, then the following shall occur without expense or loss of economic benefit to Landlord or any creditor under any Landlord Financing: 

  
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 (i) Tenant (or its successors and assigns) shall transfer all of Tenant’s assets and
properties used in or related to the operation of the businesses operated on the Leased Property (including, without limitation, all Tenant’s Pledged Property (as defined in the Lease) and all rights and obligations pursuant to licenses or
applicable to any Intellectual Property), subject to all prior arrangements, including, without limitation, any Intellectual Property licenses or sublicenses, to a replacement Entity identified by Lease Guarantor that is directly or indirectly owned
and Controlled by Lease Guarantor or Tenant (or its successors and assigns) and that is approved by Landlord (such approval not to be unreasonably withheld) that will assume the rights and obligations of Tenant under the Lease (such Entity, the
“Replacement Tenant”), and the Replacement Tenant shall grant to Landlord a first priority lien on the relevant assets that constitute Tenant’s Pledged Property as provided in the Replacement Lease (as defined below); 

(ii) a new lease (the “Replacement Lease”) on terms identical to the Lease as in effect immediately prior to such termination
shall be entered into by Landlord with the Replacement Tenant for the remaining term of the Lease and the Replacement Tenant will grant Landlord a first priority lien as provided in such Replacement Lease on all assets that constitute Tenant’s
Pledged Property under such Replacement Lease (and Landlord will cooperate to effect such transfer, including in respect of all assets subject to a lien in favor of Landlord); 

(iii) to the extent not otherwise transferred pursuant to clause (i) above or otherwise provided by Manager, CEC and Services Co
shall replicate all prior arrangements with respect to management, sub-management, licensing, Intellectual Property and otherwise as contemplated by this Agreement and any other applicable Lease/MLSA Related
Agreements, and shall take any and all other steps necessary to provide for the continued management and operation of the Managed Facilities as existed immediately prior to such termination; 

(iv) if Tenant (or its successors and assigns) has not transferred Tenant’s assets pursuant to Section 21.1.1(i), then, to the
extent Landlord determines (in its sole and absolute discretion) to exercise its rights as a secured creditor to foreclose upon Tenant’s Pledged Property, and following any such foreclosure Landlord becomes the owner of Tenant’s Pledged
Property, and the other Parties hereto have otherwise complied in all respects with this Article XXI, Landlord will, to the extent it is capable of doing so, transfer any such Tenant’s Pledged Property (or, if Landlord does not take
physical possession of any such Tenant’s Pledged Property, Landlord will assign any rights obtained by Landlord in any such Tenant’s Pledged Property) to the Replacement Tenant and, to the extent Landlord is not capable of doing so,
Landlord shall transfer any products or proceeds actually received by Landlord or any of its Affiliates in respect of such Tenant’s Pledged Property to the Replacement Tenant, in each case, for use in connection with the operation of the Leased
Property, and the Replacement Tenant shall grant to Landlord a first priority lien on the relevant assets that constitute Tenant’s Pledged Property as provided in the Replacement Lease; provided that Landlord’s rights and remedies
as a secured creditor may be exercised in the sole and absolute discretion of Landlord, and Landlord shall have no obligation to any Party to exercise such rights and remedies in any respect. 

  
 106 

 21.1.2 Upon such occurrence of the foregoing clauses 21.1.1(i), (ii), (iii)
and (iv) (collectively, the “Replacement Structure”), (x) Lease Guarantor, Manager, Replacement Tenant and Landlord shall enter into a new management and lease support agreement on terms identical to this Agreement as in
effect immediately prior to such termination (and Lease Guarantor, Manager and their respective applicable Affiliates shall enter into any necessary associated sub-management, licensing and other applicable
arrangements) (collectively, the “Replacement MLSA”), it being understood that Replacement Tenant shall be the “Tenant” under the Replacement MLSA for all purposes, (y) the management rights and obligations of Manager
and guaranty obligations and liabilities of Lease Guarantor shall continue under such Replacement MLSA with respect to such Replacement Lease on terms identical to this Agreement as in effect immediately prior to such termination (it being
understood, for the avoidance of doubt, that, notwithstanding any such termination, Lease Guarantor shall be liable for any and all Guaranteed Obligations existing or arising under this Agreement prior to effectuation of the Replacement Structure
and such Replacement MLSA on the terms contemplated herein) and (z) upon the effectuation of the Replacement Structure and the execution and effectiveness of such Replacement MLSA, the termination of this Agreement under
Section 16.2 (without a Termination for Cause) and the Guarantee Release Date under this Agreement shall each be deemed to have occurred. 

21.2 Termination of MLSA or other Lease/MLSA Related Agreements. Notwithstanding anything in this Agreement or in any of the
other Lease/MLSA Related Agreements to the contrary (and without vitiating, limiting or superseding any of Section 1.3, Section 17.3.5.6, Section 17.4.5 or
Section 21.1 hereof in any respect), in the event this Agreement or any of the other Lease/MLSA Related Agreements (other than the Lease, which shall be subject to Section 21.1) (or any portion of
any of them) is terminated, in whole or in part, for any reason whatsoever, including, without limitation, by a rejection in any bankruptcy, insolvency or dissolution proceedings, other than as expressly permitted by Article XVI hereof (with
respect to this Agreement) or the applicable provisions of such other Lease/MLSA Related Agreements (with respect to such agreements), other than expressly in writing by or with the express written consent of Landlord, in its sole and absolute
discretion, then, unless Landlord (or, during the continuation of any event of default under any Landlord Financing, any Landlord’s Lender) shall expressly elect otherwise in writing and expressly consent in writing (in its sole and absolute
discretion) to the termination of this Agreement, the Parties shall, without expense or loss of economic benefit to Landlord or any creditor under any Landlord Financing, implement the Replacement Structure (or any applicable aspects thereof)
described in Section 21.1 herein, as necessary to replicate all prior arrangements with respect to management, sub-management, licensing, Intellectual Property and otherwise as
contemplated by this Agreement and any other applicable Lease/MLSA Related Agreements, including the guaranty obligations and liabilities of Lease Guarantor on terms identical to this Agreement as in effect immediately prior to such termination (it
being understood, for the avoidance of doubt, that, notwithstanding any such termination of this Agreement or any such other Lease/MLSA Related Agreement, Lease Guarantor shall be liable for any and all Guaranteed Obligations existing or arising
prior to the effectuation of the Replacement Structure, or any applicable aspects thereof, and such Replacement MLSA, as and to the extent set forth in Article XVII). 

  
 107 

 21.3 Replacement Structure Fails to Occur. If (a) the Replacement Structure is
required to be implemented pursuant to Section 21.1 or Section 21.2, (b) Landlord (or, during the continuation of an event of default under any Landlord Financing, any Landlord’s Lender) has
not expressly elected in writing (in its sole and absolute discretion) that the Replacement Structure shall not occur and (c) the Replacement Structure does not occur (other than as a direct and proximate result of Landlord’s or, during
the continuation of an event of default under any Landlord Financing, any Landlord’s Lender’s acts or failure to act in accordance with this Article XXI), then Lease Guarantor’s Lease Guaranty shall not terminate or be released
or reduced in any respect, and shall continue unabated, in full force and effect in accordance with the terms of this Agreement, notwithstanding any termination of this Agreement as a result of the
Non-Consented Lease Termination. If Landlord (or, during the continuation of an event of default under any Landlord Financing, any Landlord’s Lender) elects in writing (in its sole and absolute
discretion) that the Replacement Structure shall not occur, or if the Replacement Structure does not occur as a direct and proximate result of Landlord’s acts or failure to act in accordance with this Article XXI, then Landlord and the
creditors under each Landlord Financing shall be deemed to have expressly consented to the termination of the Lease and/or this Agreement in writing (and the Guarantee Release Date under this Agreement shall be deemed to have occurred in accordance
with Section 17.3.5); provided that, notwithstanding any other provision herein, but subject to Section 21.1.1(iv), Landlord’s election to pursue or its pursuit of any right or remedy, or its
failure to pursue any right or remedy (in whole or in part), in respect of its interests in Tenant’s Pledged Property, shall in no event provide a direct or proximate cause of the Replacement Structure to not occur. 

21.4 Enforcement. Without limitation of any other rights and remedies of any Party under this Agreement, the Parties agree that
(i) Landlord shall have the right of specific performance to compel Lease Guarantor or its Affiliates, as applicable, to comply with this Article XXI, (ii) Lease Guarantor, Manager and Landlord shall have the right of specific
performance to compel Tenant (or its successors and assigns) to comply with this Article XXI, and (iii) if Tenant (or its successors and assigns) does not cooperate with the foregoing, Lease Guarantor and Manager shall have the right to
take such steps as they determine to be necessary to effect the Replacement Structure or as they shall determine to be comparable to such actions, including determining the ownership and identity of the Replacement Tenant (and including such other
actions as may be necessary in order to implement Section 21.2 hereof, as applicable), without regard to the interests of Tenant or its successors and assigns. 

21.5 Survival. This Article XXI shall survive the expiration or termination of this Agreement. 

[SIGNATURE PAGE FOLLOWS] 

  
 108 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date and year first
above written. 
 LANDLORD: 
  

			
	 HORSESHOE COUNCIL BLUFFS LLC,

	 a Delaware limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

			
	
	 HARRAH’S COUNCIL BLUFFS LLC,

	 a Delaware limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

			
	
	 HARRAH’S METROPOLIS LLC,

	 a Delaware limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

			
	
	 HORSESHOE SOUTHERN INDIANA LLC,

	 a Delaware limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

 [Signatures continue on following pages] 

  
 [Signature Page to
Management and Lease Support Agreement – [Non-CPLV]] 

			
	 NEW HORSESHOE HAMMOND LLC,

	 a Delaware limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

			
	
	 HORSESHOE BOSSIER CITY PROP LLC,

	 a Louisiana limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

			
	
	 HARRAH’S BOSSIER CITY LLC,

	 a Delaware limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

			
	
	 NEW HARRAH’S NORTH KANSAS CITY LLC,

	 a Delaware limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

 [Signatures continue on following pages] 

  
 [Signature Page to
Management and Lease Support Agreement – [Non-CPLV]] 

			
	 GRAND BILOXI LLC,

	 a Delaware limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

			
	
	 HORSESHOE TUNICA LLC,

	 a Delaware limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

			
	
	 NEW TUNICA ROADHOUSE LLC,

	 a Delaware limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

			
	
	 CAESARS ATLANTIC CITY LLC,

	 a Delaware limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

			
	
	 BALLY’S ATLANTIC CITY LLC,

	 a Delaware limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

 [Signatures continue on following pages] 

  
 [Signature Page to
Management and Lease Support Agreement – [Non-CPLV]] 

			
	 HARRAH’S LAKE TAHOE LLC,

	 a Delaware limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

			
	
	 HARVEY’S LAKE TAHOE LLC,

	 a Delaware limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

			
	
	 HARRAH’S RENO LLC,

	 a Delaware limited liability company

		
	 By:  
	 	  

		 	 Name: John Payne

		 	 Title: President

			
	
	BLUEGRASS DOWNS PROPERTY OWNER LLC,
	a Delaware limited liability company

			
		
	By:  	 	  

		 	Name: John Payne
		 	Title: President

 [Signatures continue on following pages] 

  
 [Signature Page to
Management and Lease Support Agreement – [Non-CPLV]] 

			
	 VEGAS DEVELOPMENT LLC,

	 a Delaware limited liability company

		
	 By:
	 	  

		 	 Name: John Payne

		 	 Title: President

	
	 VEGAS OPERATING PROPERTY LLC,

	 a Delaware limited liability company

		
	 By:
	 	  

		 	 Name: John Payne

		 	 Title: President

	
	 MISCELLANEOUS LAND LLC,

	 a Delaware limited liability company

		
	 By:
	 	  

		 	 Name: John Payne

		 	 Title: President

	
	 PROPCO GULFPORT LLC,

	 a Delaware limited liability company

		
	 By:
	 	  

		 	 Name: John Payne

		 	 Title: President

 [Signatures continue on following pages] 

  
 [Signature Page to
Management and Lease Support Agreement – [Non-CPLV]] 

			
	TENANT:
	
	 HBR REALTY COMPANY LLC,

	 a Nevada limited liability
company

			
		
	By:  	 	  

		 	Name:
		 	Title:

			
	
	 HARVEYS IOWA MANAGEMENT

COMPANY LLC,

	 a Nevada limited liability
company

			
		
	 By:  
	 	  

		 	 Name:

		 	 Title:

			
	
	 CAESARS ENTERTAINMENT OPERATING

COMPANY, INC.,

	 a Delaware
corporation

			
		
	 By:  
	 	  

		 	 Name:

		 	 Title:

 [Signatures continue on following pages] 

  
 [Signature Page to
Management and Lease Support Agreement – [Non-CPLV]] 

			
	 SOUTHERN ILLINOIS RIVERBOAT/CASINO

CRUISES LLC,

	 an Illinois limited liability
company

			
		
	 By:    
	 	  

		 	 Name:

		 	 Title:

			
	
	 CAESARS RIVERBOAT CASINO, LLC,

	 an Indiana limited liability
company

			
		
	 By:    
	 	  

		 	 Name:

		 	 Title:

			
	
	 ROMAN HOLDING COMPANY

OF INDIANA LLC,

	 an Indiana limited liability
company

			
		
	 By:    
	 	  

		 	 Name:

		 	 Title:

			
	
	 HORSESHOE HAMMOND, LLC,

	 an Indiana limited liability
company

			
		
	 By:    
	 	  

		 	 Name:

		 	 Title:

 [Signatures continue on following pages] 

  
 [Signature Page to
Management and Lease Support Agreement – [Non-CPLV]] 

			
	 HORSESHOE ENTERTAINMENT,

	 a Louisiana limited
partnership

			
		
	 By:  
	 	  

		 	 Name:

		 	 Title:

			
	
	 HARRAH’S BOSSIER CITY

INVESTMENT COMPANY, L.L.C.,

	 a Louisiana limited liability
company

			
		
	 By:  
	 	  

		 	 Name:

		 	 Title:

			
	
	 HARRAH’S NORTH KANSAS CITY LLC,

	 a Missouri limited liability
company

			
		
	 By:  
	 	  

		 	 Name:

		 	 Title:

			
	
	 GRAND CASINOS OF BILOXI, LLC,

	 a Minnesota limited liability
company

			
		
	 By:  
	 	  

		 	 Name:

		 	 Title:

 [Signatures continue on following pages] 

  
 [Signature Page to
Management and Lease Support Agreement – [Non-CPLV]] 

			
	 ROBINSON PROPERTY GROUP LLC,

	 a Mississippi limited liability
company

			
		
	 By:  
	 	  

		 	Name:
		 	Title:

			
	
	 TUNICA ROADHOUSE LLC,

	 a Delaware limited liability
company

			
		
	 By:  
	 	  

		 	 Name:

		 	 Title:

			
	
	 BOARDWALK REGENCY LLC,

	 a New Jersey limited liability
company

			
		
	 By:  
	 	  

		 	 Name:

		 	 Title:

 [Signatures continue on following pages] 

  
 [Signature Page to
Management and Lease Support Agreement – [Non-CPLV]] 

			
	CAESARS NEW JERSEY LLC,
	a New Jersey limited liability company

			
		
	By:  	 	  

		 	Name:
		 	Title:

			
	
	 BALLY’S PARK PLACE LLC,

a New Jersey limited liability company

			
		
	By:  	 	  

		 	Name:
		 	Title:

			
	
	 HARVEYS TAHOE MANAGEMENT COMPANY LLC,

a Nevada limited liability company

			
		
	By:  	 	  

		 	Name:
		 	Title:

			
	
	RENO PROJECTS LLC,
	a Nevada limited liability company

			
		
	By:  	 	  

		 	Name:
		 	Title:

 [Signatures continue on following pages] 

  
 [Signature Page to
Management and Lease Support Agreement – [Non-CPLV]] 

			
	 HOLE IN THE WALL, LLC,

	 a Nevada limited liability
company

			
		
	By:  	 	  

		 	Name:
		 	Title:

			
	
	 CASINO COMPUTER

PROGRAMMING, INC.,
 an Indiana
corporation

			
		
	By:  	 	  

		 	Name:
		 	Title:

			
	
	 HARVEYS BR MANAGEMENT

COMPANY, INC.,
 a Nevada
corporation

			
		
	By:  	 	  

		 	Name:
		 	Title:

 [Signatures continue on following pages] 

  
 [Signature Page to
Management and Lease Support Agreement – [Non-CPLV]] 

			
	CEOC, LLC,
	a Delaware limited liability company
		
	By:	 	  

		 	Name:
		 	Title:
	
	NON-CPLV MANAGER, LLC,
	a Delaware limited liability company
	
	By: Caesars Entertainment Corporation
	its sole member
		
	By:	 	  

		 	Name: [                        ]
		 	Title: [                        ]
	
	 CAESARS ENTERTAINMENT CORPORATION,

a Delaware corporation

		
	By:	 	  

		 	Name: [                        ]
		 	Title: [                        ]
	
	Solely for purposes of Article VII and Sections 2.4, 16.2, 16.3.4,
18.5.5, 18.7.3, 18.7.4, 18.7.5, 19.3, 20.2 and 20.16
	
	CAESARS LICENSE COMPANY, LLC,
	a Nevada limited liability company
		
	By:	 	Caesars Entertainment Operating Company, Inc.,
		 	its sole member
		
	By:	 	  

		 	Name: [                        ]
		 	Title: [                        ]

 [Signatures continue on following pages] 

  
 [Signature Page to
Management and Lease Support Agreement – [Non-CPLV]] 

			
	Solely for purposes of Section 20.16 and Article XXI
	
	CAESARS ENTERPRISE SERVICES, LLC,
	a Delaware limited liability company
		
	By:	 	  

		 	Name: [                        ]
		 	Title: [                        ]

  
 [Signature Page to Management and
Lease Support Agreement – [Non-CPLV]] 

 EXHIBIT A 

TO MANAGEMENT LEASE AND SUPPORT AGREEMENT 

MANAGED FACILITIES 
  

					
	 No.
	  	 Property
	  	 State

	1.	  	Horseshoe Council Bluffs	  	Iowa
	2.	  	Harrah’s Council Bluffs	  	Iowa
	3.	  	Harrah’s Metropolis	  	Illinois
	4.	  	Horseshoe Southern Indiana	  	Indiana
	5.	  	Horseshoe Hammond	  	Indiana
	6.	  	Horseshoe Bossier City	  	Louisiana
	7.	  	Harrah’s Bossier City (Louisiana Downs)	  	Louisiana
	8.	  	Harrah’s North Kansas City	  	Missouri
	9.	  	Grand Biloxi Casino Hotel (a/k/a Harrah’s Gulf Coast) and Biloxi Land	  	Mississippi
	10.	  	Horseshoe Tunica	  	Mississippi and Arkansas
	11.	  	Tunica Roadhouse	  	Mississippi
	12.	  	Caesars Atlantic City	  	New Jersey
	13.	  	Bally’s Atlantic City and Schiff Parcel	  	New Jersey
	14.	  	Harrah’s Lake Tahoe	  	Nevada
	15.	  	Harvey’s Lake Tahoe	  	Nevada and California
	16.	  	Harrah’s Reno	  	Nevada
	17.	  	Bluegrass Downs	  	Kentucky
	18.	  	Las Vegas Land Assemblage Properties	  	Nevada
	19.	  	Harrah’s Airplane Hangar	  	Nevada
	20.	  	Vacant Land in Missouri	  	Missouri

  
 A-1 

					
	 No.
	  	 Property
	  	 State

	21.	  	Land Leftover from Harrah’s Gulfport	  	Mississippi
	22.	  	Vacant Land in Splendora, TX	  	Texas
	23.	  	Vacant Land at Turfway Park	  	Kentucky

  
 A-2 

 EXHIBIT B 

TO MANAGEMENT LEASE AND SUPPORT AGREEMENT 

DEFINITIONS 

“Affiliate” means, with respect to a Person, any other Person that, directly or indirectly, Controls, is Controlled by or is
under common Control with the first Person; provided that, (i) with respect to Manager, “Affiliate” shall include CEC and its direct and indirect Controlled Subsidiaries (if Manager is a direct or indirect Controlled Subsidiary
of CEC) but shall not include any shareholder or director of CEC or of CEOC or any Affiliate of any such shareholder or director of CEC or CEOC (other than, as applicable, CEC and its direct or indirect Controlled Subsidiaries); (ii) with
respect to CEC, “Affiliate” shall include its direct and indirect Controlled Subsidiaries but shall not include any shareholder or director of CEC or any Affiliate of any such shareholder or director of CEC (other than CEC and its direct
or indirect Controlled Subsidiaries) and (iii) with respect to Tenant, “Affiliate” shall include its direct and indirect Controlled Subsidiaries and, if Tenant is a Controlled Subsidiary of CEC, CEC and its direct and indirect
Controlled Subsidiaries, but shall not include any shareholder or director of CEC or CEOC or any Affiliate of any such shareholder or director of CEC or CEOC (other than, if applicable, CEC and its direct or indirect Controlled Subsidiaries).
Notwithstanding the foregoing, (a) each Sponsor shall be considered an Affiliate of Lease Guarantor for so long as such Sponsor, (x) owns five percent (5%) or more of the equity interests of Lease Guarantor (either directly or through
Equity Equivalents and whether or not voting) or (y) individually or jointly with the other Sponsor, designates one or more directors to the Board of Directors of Lease Guarantor, at all times, (b) any Person in which any other Person, or
other Persons acting together as a group (within the meaning of the Exchange Act), individually or taken together, owns directly or indirectly, twenty five percent (25%) or more of the equity interests of such Person (either directly or through
Equity Equivalents and whether or not voting) shall be deemed to be controlled by such other Person or Persons acting together as a group; provided that, with respect to any shareholder or group of shareholders of Lease Guarantor other than a
Sponsor or an Affiliate of a Sponsor, such shareholders shall not be considered to control Lease Guarantor for purposes of this clause (b) solely by reason of such percentage ownership unless (i) such Person or group files a
Schedule 13D disclosing its ownership and, if applicable, status as a group and (ii) the Sponsors do not own more of the outstanding voting interests of the equity of Lease Guarantor than such Person or group and (c) any portfolio company
of a Sponsor that satisfies the criteria of an “Affiliate” set forth in this definition will be considered an Affiliate so long as the Sponsor is an Affiliate. For purposes of this Agreement, none of Tenant and its Controlled Subsidiaries,
Manager and its Controlled Subsidiaries and CEC and its Controlled Subsidiaries shall be considered Affiliates of Landlord. 

“Agreement” means this Management Lease and Support Agreement (Non-CPLV) among
Tenant, Manager, Lease Guarantor, Landlord and CLC, including all Exhibits and Schedules thereto, as amended, restated, supplemented or otherwise modified from time to time. 

  
 B-1 

 “Amenities Manager” shall have the meaning set forth in
Section 5.11. 
 “Annual Budget” shall have the meaning set forth in
Section 5.1.2. 
 “Applicable Law” means all (a) statutes, laws, rules, regulations,
ordinances, codes or other legal requirements of any federal, state or local Governmental Authority, board of fire underwriters and similar quasi-Governmental Authority, including any legal requirements under any Approvals, including Gaming
Regulations, in each case, applicable to the Managed Facilities, and (b) judgments, injunctions, orders or other similar requirements of any court, administrative agency or other legal adjudicatory authority, in effect at the time in question
and in each case to the extent the Managed Facilities or Person in question is subject to the same. Without limiting the generality of the foregoing, references to Applicable Law shall include any of the matters described in clause
(a) or (b) above relating to employees, protection of personal information, zoning, building, health, safety and environmental matters and accessibility of public facilities. 

“Approvals” means all licenses, permits, approvals, certificates and other authorizations granted or issued by any
Governmental Authority for the matter or item in question. 
 “Approved Counsel” means (a) at any time Tenant is a
Controlled Subsidiary of CEC and Manager is a wholly owned subsidiary of CEC, any counsel selected by Manager, (b) any counsel either mutually agreed upon by Tenant and Manager or (c) counsel set forth on a list of “Approved
Counsel” containing counsel by practice specialty that are mutually agreeable to Tenant and Manager, as such list may be updated by Tenant and Manager from time to time. 

“Approved Fairness Opinion Firm” means any of the following: 

 

	 	(a)	Citibank; 

  

	 	(b)	Credit Suisse; 

  

	 	(c)	Deutsche Bank; 

  

	 	(d)	Bank of America Merrill Lynch; 

  

	 	(e)	JPMorgan; 

  

	 	(f)	Goldman Sachs; 

  

	 	(g)	Morgan Stanley; 

  

	 	(h)	Barclays; 

  

	 	(i)	Houlihan Lokey; 

  
 B-2 

	 	(j)	Moelis; 

  

	 	(k)	Murray Devine; 

  

	 	(l)	Alix Partners; 

  

	 	(m)	Blackstone; 

  

	 	(n)	Lazard; 

  

	 	(o)	any Affiliate of the foregoing; and 

  

	 	(p)	any other accounting, appraisal or investment banking firm reasonably acceptable to Landlord. 

“Asset Sale” means any conveyance, sale, assignment, transfer, lease or other disposition of any assets in one transaction or
a series of related transactions (including any interest in any subsidiary) held directly by Lease Guarantor, excluding: 
  

	 	(a)	a disposition of cash or cash equivalents (it being understood that a disposition of cash or cash equivalents shall be subject to Sections 17.4.3 and 17.4.4, to the extent applicable thereto);

  

	 	(b)	a disposition of obsolete or damaged property or equipment or other assets no longer used or useful in the business (in one transaction or a series of related transactions), in each case in the ordinary course of
business and consistent with industry norm; 

  

	 	(c)	a disposition of any assets that are replaced with similar assets in the ordinary course of business and consistent with industry norm, which assets so disposed of in one transaction or a series of related transactions
have an aggregate Fair Market Value of less than $10,000,000; 

  

	 	(d)	any disposition in the ordinary course of business of assets of Lease Guarantor or issuance or sale of equity interests of any subsidiary of Lease Guarantor (in one transaction or a series of related transactions),
which assets or equity interests so disposed of or issued have an aggregate Fair Market Value of less than $10,000,000; 

  

	 	(e)	lease, license, easement, assignment, sublease or sublicense of any real or personal property, in each case in the ordinary course of business and consistent with industry norm; 

 

	 	(f)	any sale of inventory (in one transaction or a series of related transactions), in each case in the ordinary course of business and consistent with industry norm; 

  
 B-3 

	 	(g)	any grant (in one transaction or a series of related transactions) in the ordinary course of business and consistent with industry norm of any license of patents, trademarks,
know-how or any other intellectual property; 

  

	 	(h)	any swap of assets, or lease, assignment or sublease of any real or personal property, in exchange for services (including in connection with any outsourcing arrangements) of comparable or greater value or usefulness to
the business of Lease Guarantor and its subsidiaries as a whole, as determined in good faith by Lease Guarantor, in each case in the ordinary course of business or consistent with past practice or industry norm; 

 

	 	(i)	foreclosure or any similar involuntary lien enforcement action against Lease Guarantor with respect to any property or other asset of Lease Guarantor; 

 

	 	(j)	any disposition (in one transaction or a series of related transactions), in the ordinary course of business and consistent with industry norm, of receivables in connection with the compromise, settlement or collection
thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive of factoring or similar arrangements; 

  

	 	(k)	any surrender or waiver of contract rights or the settlement, release, recovery on or surrender of contract, tort or other claims of any kind, in each case in the ordinary course of business and consistent with industry
norm; or 

  

	 	(l)	any disposition by Lease Guarantor of any assets to a Controlled Subsidiary of Lease Guarantor (provided that such Controlled Subsidiary shall thereafter be prohibited from further disposing of such assets except
in compliance with this definition of “Asset Sale” and Section 17.4.1, as if such Controlled Subsidiary were Lease Guarantor). 

“Assignment” means any assignment, conveyance (including, without limitation, a Foreclosure by Leasehold Lender), delegation,
pledge or other transfer, in whole or in part, directly or indirectly by the applicable Party, of (a) this Agreement (or any other Lease/MLSA Related Agreement) or any direct or indirect interest therein, or (b) any rights, entitlements,
remedies, duties or obligations under this Agreement or any other Lease/MLSA Related Agreement to which the applicable Party is a party, in each case whether voluntary, involuntary, by operation of Applicable Law or otherwise (including as a result
of any divorce, Change of Control, bankruptcy, insolvency or dissolution proceedings, by declaration of or transfer in trust, or under a will or the laws of intestate succession). A Substantial Transfer by any one of CEC, Manager, Tenant or Lease
Guarantor shall, in each case, be deemed an Assignment by such Person. 
 “Assignment Documents” shall have the meaning set
forth in Section 11.1.3.2. 
 “Balance Lease” shall have the meaning set forth in
Section 16.4. 
 “Bank Accounts” shall have the meaning set forth in
Section 5.4.1. 

  
 B-4 

 “Bankruptcy Code” means the United States Bankruptcy Code (11 U.S.C. § 101,
et seq.), as amended, and any successor statute. 
 “Board of Directors of Lease Guarantor” means the board of directors of
Lease Guarantor, including the Independent Directors. 
 “Brands” shall mean the Trademarks listed on Exhibit F
attached hereto and reputation symbolized thereby. 
 “Building Capital Improvements” means all repairs, alterations,
improvements, renewals, replacements or additions of or to the structure or exterior façade of the Managed Facilities, or to the mechanical, electrical, plumbing, HVAC (heating, ventilation and air conditioning), vertical transport and
similar components of the Managed Facilities that are capitalized under GAAP and depreciated as real property, but expressly excluding ROI Capital Improvements. 

“Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday that (i) is not a day on which national banks
in the City of Las Vegas, Nevada or in New York, New York are authorized, or obligated, by law or executive order, to close, and (ii) is not any other day that is not a “Business Day” as defined under an Other MLSA. 

“Business Information” means any information or compilation of information relating to a business, procedures, techniques,
methods, concepts, ideas, affairs, products, processes or services, including source code, information relating to distribution, marketing, merchandising, selling, research, development, manufacturing, purchasing, accounting, engineering, financing,
costs, pricing and pricing strategies and methods, customers, suppliers, creditors, employees, contractors, agents, consultants, plans, billing, needs of customers and products and services used by customers, all lists of suppliers, distributors and
customers and their addresses, prospects, sales calls, products, services, prices and the like, as well as any specifications, formulas, plans, drawings, accounts or sales records, sales brochures, catalogs, code books, manuals, trade secrets,
knowledge, know-how, operating costs, sales margins, methods of operations, invoices or statements and the like. 

“Business Interruption Event” shall have the meaning set forth in Section 14.1. 

“Business Interruption Insurance” means insurance coverage against “Business Interruption and Extra Expense” (as
that phrase is used within the United States insurance industry for application to transient lodging facilities). 
 “Caesars IP
Holder” means Services Co and its subsidiaries. 
 “Capital Budget” shall have the meaning set forth in
Section 5.1.1.2. 

  
 B-5 

 “Casualty” means any fire, flood or other act of God or casualty that results in
damage or destruction to all or a portion of one or more of the Managed Facilities. 
 “Cause” shall have the meaning set
forth in the definition of “Terminated for Cause.” 
 “CEC” means Caesars Entertainment Corporation, a Delaware
corporation. 
 “Centralized Services” shall have the meaning set forth in Section 4.1. 

“Centralized Services Charges” shall have the meaning set forth in Section 4.1.1. 

“CEOC” means CEOC, LLC, a Delaware limited liability company, as successor by merger to Caesars Entertainment Operating
Company, Inc., a Delaware corporation. 
 “CERP” means Caesars Entertainment Resort Properties, LLC, a Delaware limited
liability company. 
 “Certified Financial Statements” shall have the meaning set forth in
Section 10.3. 
 “CES” shall have the meaning set forth in the Preamble hereto. 

“CGPH” means Caesars Growth Properties Holdings, LLC, a Delaware limited liability company. 

“Change of Control” means with respect to Manager, CEC or Tenant, the occurrence of any of the following: (a) the direct
or indirect sale, exchange or other transfer (other than by way of merger, consolidation or amalgamation), in one or a series of related transactions, of all or substantially all the assets of such Party and its subsidiaries, taken as a whole, to
one or more Persons; (b) an officer of such Party becomes aware (by way of a report or any other filing pursuant to Section 13(d) of the Exchange Act, proxy, vote, written notice or otherwise) of the consummation of any transaction or
series of related transactions (including, without limitation, any merger, consolidation or amalgamation), the result of which is that any “person” or “group” (as used in Section 13(d)(3) of the Exchange Act or any
successor provision) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act or any successor provision), directly or
indirectly, of more than fifty percent (50%) of the Voting Stock of such Party or other Voting Stock into which such Party’s Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of
securities or other ownership interests; (c) the occurrence of a “change of control”, “change in control” (or similar definition) as defined in any indenture, credit agreement or similar debt instrument under which such
Party is an issuer, a borrower or other obligor, in each case representing outstanding indebtedness in excess of One 

  
 B-6 

 
Hundred Million and No/100 Dollars ($100,000,000.00); or (d) such Party consolidates with, or merges or amalgamates with or into, any other Person (or any other Person consolidates with, or
merges or amalgamates with or into, such Party), in any such event pursuant to a transaction in which any of such Party’s outstanding Voting Stock or any of the Voting Stock of such other Person is converted into or exchanged for cash,
securities or other property, other than any such transaction where such Party’s Voting Stock outstanding immediately prior to such transaction constitutes, or is converted into or exchanged for, a majority of the outstanding Voting Stock of
the surviving Person or any direct or indirect Parent Entity of the surviving Person immediately after giving effect to such transaction measured by voting power rather than number of securities or other ownership interests. For purposes of the
foregoing definition: (x) a Party shall include any Parent Entity of such Party; (y) “Voting Stock” shall mean the securities or other ownership interests of any class or classes having general voting power under ordinary
circumstances, in the absence of contingencies, to elect the directors, managers or trustees (or other similar governing body) of a Person; and (z) “Parent Entity” shall mean, with respect to any Person, any corporation,
association, limited partnership, limited liability company or other entity which at the time of determination (i) owns or controls, directly or indirectly, more than fifty percent (50%) of the total voting power of shares of capital stock
(without regard to the occurrence of any contingency) entitled to vote in the election of directors, managers or trustees of such Person, (ii) owns or controls, directly or indirectly, more than fifty percent (50%) of the capital accounts,
distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, of such Person, whether in the form of membership, general, special or limited partnership interests or otherwise, or (iii) is
the controlling general partner of, or otherwise controls, such entity. Notwithstanding the foregoing: (A) the transfer of assets between or among a Party’s wholly owned subsidiaries and such Party shall not itself constitute a Change of
Control; (B) the term “Change of Control” shall not include a merger, consolidation or amalgamation of such Party with, or the sale, assignment, conveyance, transfer or other disposition of all or substantially all of such
Party’s assets to, an Affiliate of such Party (1) incorporated or organized solely for the purpose of reincorporating such Party in another jurisdiction, and (2) the owners of which and the number and type of securities or other
ownership interests in such Party, measured by voting power and number of securities or other ownership interests, owned by each of them immediately before and immediately following such transaction, are materially unchanged; (C) a
“person” or “group” shall not be deemed to have beneficial ownership of securities subject to a stock or asset purchase agreement, merger agreement or similar agreement (or voting or option or similar agreement related thereto)
prior to the consummation of the transactions contemplated by such agreement; (D) the Restructuring Transactions (as defined in the Indenture (as defined in the Lease)) and any transactions related thereto shall not constitute a Change of
Control; and (E) a transaction will not be deemed to involve a Change of Control in respect of a Party if (1) such Party becomes a direct or indirect wholly owned subsidiary of a holding company, and (2) the direct or indirect owners
of such holding company immediately following that transaction are the same as the owners of such Party immediately prior to that transaction and the number and type of securities or other ownership interests owned by each such direct and indirect
holder immediately following such transaction are materially unchanged from the number and type of securities or other ownership interests owned by such direct and indirect holder in such Party immediately prior to that transaction. 

  
 B-7 

 “Claims” means claims, demands, suits, criminal or civil actions or similar
proceedings that might be alleged by a third-party (including enforcement proceedings by any Governmental Authority) against any Indemnified Party, and all liabilities, damages, fines, penalties, costs or expenses (including reasonable
attorneys’ fees and expenses and other reasonable costs for defense, settlement and appeal) that any Indemnified Party might incur, become responsible for, or pay out for any reason, related to this Agreement or the development, construction,
ownership or other Operation of the Managed Facilities, or otherwise. 
 “CLC” shall have the meaning set forth in the
Preamble hereto. 
 “Commencement Date” means the date hereof. 

“Complimentaries” means any goods or services provided to customers free of charge, at a discounted rate or in the form of a
rebate or credit. Such goods or services may include, for example, rooms, food and beverage, spa services and retail merchandise. Complimentaries may be provided to customers pursuant to a discretionary incentive program, targeted to either past,
current or potential customers and may or may not be related to the customer’s level of past play so long as the same are provided on substantially the same basis as provided at Other Managed Facilities and Other Managed Resorts, and, in all
events, in a Non-Discriminatory manner. Conversely, Complimentaries may be provided to customers pursuant to a nondiscretionary incentive program, such as a loyalty program, whereby the customer has earned the
Complimentaries based on the customer’s level of past play. 
 “Condemnation” shall have the meaning set forth in the
Lease. 
 “Consultation with Tenant” means engaging in periodic discussions with Tenant at Tenant’s reasonable request
and considering in good faith Tenant’s positions with respect to the matter discussed. 
 “Content” shall have the
meaning set forth in Section 9.1.3. 
 “Control” means the possession, directly or indirectly, of
the power to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting securities, by contract or otherwise. “Controls”, “Controlled” and
“Controlling” and “under common Control with” shall have correlative meanings to “Control”. 

“Controlled Subsidiary” means, with respect to any Person (referred to in this definition as the “parent”), any
corporation, limited liability company, partnership, association or other business entity (a) of which securities or other ownership interests representing more than fifty percent (50%) of the equity or more than fifty percent (50%) of the
ordinary voting power or more than fifty percent (50%) of the general partnership interests or managing membership interests are, at the time any determination is being 

  
 B-8 

 
made, directly or indirectly, owned, Controlled or held, or (b) that is, at the time any determination is made, otherwise Controlled by the parent or one or more subsidiaries of the parent
or by the parent and one or more subsidiaries of the parent. 
 “Corporate Personnel” means any personnel from the
corporate or divisional offices of Manager or its Affiliates, who perform activities or services at or on behalf of the Managed Facilities in connection with the services provided by Manager under this Agreement. 

“CPLV Managed Facility” means “Managed Facility” under the CPLV MLSA. 

“CPLV MLSA” means that certain Management and Lease Support Agreement (CPLV), dated as of the date hereof, by and among
Desert Palace LLC, Caesars Entertainment Operating Company, Inc., CEOC, Lease Guarantor, CPLV Manager, LLC, CPLV Property Owner LLC, and the other parties thereto, as amended, restated, supplemented or otherwise modified from time to time. 

“CPLV Tenant” means “Tenant” under the CPLV MLSA. 

“Default Claim” shall have the meaning set forth in Section 18.2.1.2. 

“Derivative Work” means (i) an enhancement, improvement or modification with respect to any Intellectual Property, or
(ii) the meaning ascribed to it under the United States Copyright statute, 18 U.S.C. sec. 101 or equivalent provisions in other legislation (if any) applicable to the copyrighted work in question. 

“Design Guidance” means the design guidance applicable to the Brands, regarding requirements for the design, architecture and
construction of Other Managed Resorts. 
 “Designated Accountant” means an independent accounting firm designated by
Manager and approved by Tenant that is an Accountant (as such term is defined in the Lease); provided that Tenant shall not withhold its approval of one of the “Big Four” accounting firms. 

“Entity” means a partnership, a corporation, a limited liability company, a Governmental Authority, a trust, an
unincorporated organization or any other legal entity of any kind. 
 “Equity Equivalents” means (w) all warrants and
options (including any contingent purchase, convertible debt, exchangeable shares, put, or stock subject to forfeiture), whether or not presently convertible, exchangeable or exercisable, (x) other agreements to directly or indirectly purchase
(regardless of whether it is contingent or otherwise not currently exercisable), subscribe for or otherwise acquire any interest in any equity or any other Equity Equivalents referred to in clause (w) or (y), whether or not
presently convertible, exchangeable or exercisable, (y) any other equity interest reportable or disclosable on Schedule 13D and (z) similar equity-like interests. 

  
 B-9 

 “Event of Default” means a Tenant MLSA Event of Default, Manager Event of
Default, Lease Guarantor Event of Default or M/T Event of Default, as applicable. 
 “Excluded Termination” means a
termination of the Lease, in whole or in part, as applicable, in accordance with the express terms of Section 1.5 of the Lease, Section 14.2 of the Lease (in connection with certain casualty events
occurring during the final two (2) years of the term of the Lease), Section 15.1 of the Lease (in connection with certain occurrences of Condemnation or Taking) or Section 18.2 of the Lease.

 “Expert” shall have the meaning set forth in Section 18.2. 

“Expert Resolution” shall have the meaning set forth in Section 18.2. 

“Fair Market Value” means, with respect to any asset or property, the price or other cash consideration which could be
negotiated in an arm’s-length transaction, for cash, between willing and able participants neither of whom is under undue pressure or compulsion to complete the transaction and assuming that both are
acting prudently and knowledgably in a competitive open market, that price is not affected by undue stimulus, and neither party is paying any broker a commission in connection with the transaction. 

“FF&E” means furniture, furnishings, fixtures, inventory, and equipment (including video lottery terminal machines and
other Gaming and Gaming related equipment), interior and exterior signs, as well as other improvements and personal property used in the Operation of the Managed Facilities that are not Supplies. 

“Force Majeure Event” means any events or circumstances to the extent they (i) are not caused or fomented by Manager or
its Affiliates and (ii) materially and adversely affect the operations or financial performance of the Managed Facilities beyond the reasonable control of Manager, including the following: (a) Casualty or Condemnation or Taking;
(b) storm, earthquake, hurricane, tornado, flood or other act of God; (c) war, act of terrorism, insurrection, rebellion, riots or other civil unrest; (d) epidemics, quarantine restrictions or other public health restrictions or
advisories; (e) strikes or lockouts or other labor interruptions; (f) disruption to local, national or international transport services; (g) embargoes, lack of materials or services such as water, power or telephone transmissions
necessary for the Operation of the Managed Facilities in accordance with this Agreement; (h) failure of any applicable Governmental Authority to issue any Approvals, or the suspension, termination or revocation of any material Approvals,
required for the Operation of the Managed Facilities; provided that the same was not caused by an Event of Default on the part of the Party or any Affiliate of such Party claiming the occurrence of a Force Majeure Event (it being understood
that for the purpose of this definition, Tenant and its Controlled Subsidiaries (for so long as Tenant is a Controlled Subsidiary of CEC) and Manager and its Controlled Subsidiaries (for so long as Manager is a wholly owned subsidiary of CEC) shall
be deemed Affiliates, if otherwise satisfying the definition of Affiliate); and (i) a change in Gaming Regulations or other action by any Governmental Authority which results in the disruption, suspension or cessation of Gaming activities in
the Gaming industry generally (on a local, regional, state or federal basis). 

  
 B-10 

 “Foreclosure by Leasehold Lender” means any sale, disposition, conveyance,
foreclosure of a leasehold mortgage or security interest or similar transaction, assignment in lieu of foreclosure, appointment of a receiver or other transfer, in each case of any right, title or interest of Tenant in the Lease and/or the Leased
Property (or any direct or indirect Ownership Interests of Tenant) and in each case in connection with (i) an event of default under a Leasehold Financing with a Leasehold Lender (which event of default may or may not, for the avoidance of
doubt, also constitute a Tenant Lease Event of Default) and (ii) the exercise of Leasehold Lender’s remedies thereunder, whether with the consent of Tenant, involuntary, by operation or law or otherwise (including as a result of any
bankruptcy, insolvency or dissolution proceedings or by declaration of or transfer in trust) or whether pursuant to a transfer of the assets of Tenant or of the Transfer of Ownership Interests of Tenant. 

“Funds Request” shall have the meaning set forth in Section 5.5.2. 

“GAAP” means those conventions, rules, procedures and practices, consistently applied, affecting all aspects of recording and
reporting financial transactions which are generally accepted by major independent accounting firms in the United States at the time in question. Any financial or accounting terms not otherwise defined herein shall be construed and applied according
to GAAP. 
 “Gaming” has the meaning provided in the Lease. 

“Gaming Authorities” means any Governmental Authority regulating Gaming or related activities. 

“Gaming License” has the meaning provided in the Lease. 

“Gaming Regulations” has the meaning provided in the Lease. 

“Golf Course Use Agreement” means that certain Golf Course Use Agreement, dated as of the date hereof, by and among Rio Secco
LLC, Cascata LLC, Chariot Run LLC and Grand Bear LLC, as Owner, Services Co and CEOC, as User, and the other parties thereto. 

“Governmental Authority” means any foreign, federal, state or local governmental entity or authority, or any department,
commission, board, bureau, agency, court or instrumentality thereof. 
 “Guaranteed Obligations” shall have the meaning set
forth in Section 17.1. 
 “Guaranty Covenant Termination Date” shall mean the earlier of
(i) the date upon which all of the Guaranteed Obligations shall have been irrevocably paid and satisfied in full in cash and (ii) only in the event that a Guaranty Release Date has 

  
 B-11 

 
occurred pursuant to Section 17.3.5, the date on which there shall have been finally determined, and irrevocably paid and satisfied in full in cash, all Guaranteed
Obligations with respect to which, prior to the date that is twelve (12) months after the occurrence of such Guaranty Release Date, Landlord has either made claims in accordance with this Agreement to, or otherwise demanded payment in
accordance with this Agreement from, Lease Guarantor. 
 “Guaranty Release Date” shall have the meaning set forth in
Section 17.3.5. 
 “Guaranty Termination Obligations” shall mean the sum, without duplication, of
(i) the aggregate amount of any outstanding Guaranteed Obligations that are due and payable as of the Guaranty Release Date, (ii) the aggregate amount of any Guaranteed Obligations to which Landlord is (or may become) entitled in respect
of any period prior to the Guaranty Release Date that are not covered under clause (i), and (iii) the aggregate amount of any damages to which Landlord is or may become entitled under and in accordance with the terms of the Lease (or the
Golf Course Use Agreement) due to or arising out of any termination of the Lease (or the Golf Course Use Agreement) that occurs on or prior to the Guaranty Release Date (it being understood that in the case of clauses (ii) through
(iii), the full extent of such Guaranteed Obligations may not be known or demanded by Landlord as of the effective date of any such termination of the Lease). For purposes of this definition, the term “Guaranteed Obligations” shall
not include Guaranteed Obligations described in clause (ii) of the definition of “Guaranteed Obligations” set forth in Section 17.1 hereof. 

“Guest Data” means any and all information and data identifying, describing, concerning or generated by prospective, actual
or past guests, family members, website visitors and customers of casinos, hotels, retail locations, restaurants, bars, spas, entertainment venues, or other facilities or services, including without limitation any and all guest or customer profiles,
contact information (e.g., addresses, phone numbers, facsimile numbers and email addresses), histories, preferences, game play and patronage patterns, experiences, results and demographic information, whether or not any of the foregoing constitutes
personally identifiable information, together with any and all other guest or customer information in any database of Manager, Tenant, Services Co or any of their respective Affiliates, regardless of the source or location thereof, and including
without limitation such information obtained or derived by Manager, Tenant, Services Co or any of their respective Affiliates from: (i) guests or customers of the Managed Facilities (for the avoidance of doubt, including Property Specific Guest
Data); (ii) guests or customers of any Other Facility (as defined in the Lease) (including any condominium or interval ownership properties) owned, leased, operated, licensed or franchised by Tenant or any of its Affiliates, or any facility
associated with any such Other Facility (including restaurants, golf courses and spas); or (iii) any other sources or databases, including websites, central reservations databases, operational data base (ODS) and any player loyalty programs
(e.g., the Total Rewards Program). 

  
 B-12 

 “Indemnified Party” means any Tenant Indemnified Party or Manager Indemnified
Party entitled to receive indemnification pursuant to this Agreement. 
 “Indemnifying Party” means any Party obligated to
indemnify an Indemnified Party pursuant to this Agreement. 
 “Independent Director” means a member of the board of
directors of Lease Guarantor who is “independent” under NASDAQ listing rules. 
 “Index” means the Consumer Price
Index for the West Region, as published by the Department of Statistics of the US Bureau of Labor, using the period October/November 1995 as a base of one hundred (100), or if such index is discontinued, the most comparable index published by
any United States governmental agency, as acceptable to Tenant and Manager. 
 “Individual” means a natural person, whether
acting for himself or herself, or in a representative capacity. 
 “Initial Expert” shall have the meaning set forth in
Section 18.2.1.1. 
 “Initial Term” shall have the meaning set forth in
Section 2.4.1. 
 “Insurance Costs” means all insurance premiums or other costs paid for any
insurance policies maintained by Tenant with respect to the Managed Facilities. 
 “Insurance Program” means the insurance
program of Affiliates of Manager that are provided to the Other Managed Facilities and Other Managed Resorts. 
 “Insurance
Requirements” means at any time, the minimum coverage, limits, deductibles and other requirements required by Manager, which such Insurance Requirements shall be not less than the insurance required pursuant to the Lease at such time. 

“Intellectual Property” or “IP” means all rights in, to and under any of the following, as they exist
anywhere in the world, whether registered or unregistered: (a) all patents and applications therefor and all reissues, divisions, divisionals, renewals, extensions, provisionals, continuations and continuations-in-part thereof, and all patents, applications, documents and filings claiming priority to or serving as a basis for priority thereof; (b) all inventions (whether or not patentable),
invention disclosures, improvements, Business Information, Confidential Information, Software, formulas, drawings, research and development, business and marketing plans and proposals, tangible and intangible proprietary information, and all
documentation relating to any of the foregoing; (c) all copyrights, works of authorship, copyrightable works, copyright registrations and applications therefor, and all other rights corresponding thereto; (d) all industrial designs and any
registrations and applications therefor; (e) all trademarks, service marks, trade dress, logos, trade names, assumed names and corporate names, Internet domain names and other numbers, together with all translations, adaptations, derivations
and combinations thereof and including all goodwill associated therewith, and 

  
 B-13 

 
all applications, registrations and renewals in connection therewith (“Trademarks”); (f) all databases and data collections (including all Guest Data) and all rights
therein; (g) all moral and economic rights of authors and inventors, however denominated; (h) all Internet addresses, sites and domain names, numbers, and social media user names and accounts; (i) any other similar intellectual
property and proprietary rights of any kind, nature or description; and (j) any copies of tangible embodiments thereof (in whatever form or medium). 

“Intercreditor Agreement” shall have the meaning set forth in the Lease. 

“Joliet Landlord” means “Landlord” under the Joliet MLSA. 

“Joliet Managed Facility” means “Managed Facility” under the Joliet MLSA. 

“Joliet MLSA” means that certain Management and Lease Support Agreement (Joliet), dated as of the date hereof, by and among
Des Plaines Development Limited Partnership, Joliet Manager, LLC, Lease Guarantor, Harrah’s Joliet LandCo LLC and the other parties thereto, as amended, restated, supplemented or otherwise modified from time to time. 

“Joliet Partner” means Des Plaines Development Holdings, LLC. 

“Joliet Tenant” means “Tenant” under the Joliet MLSA. 

“Landlord Confidential Information” means confidential or proprietary information relating to Landlord’s or any of its
Affiliates’ businesses that derives value, actual or potential, from not being generally known to others specifically designated by Landlord in writing as confidential or proprietary to which Manager and Tenant obtain access by virtue of the
relationship between the Parties. 
 “Landlord Financing” means any debt financing or refinancing of Landlord or any
Affiliate thereof that relates or applies to, in whole or in part, Landlord’s interest in the Lease, this Agreement and/or the Leased Property, or revenues therefrom (or any portion thereof), including debt financing or refinancing secured (in
whole or in part) by security interest in Landlord’s interest in the Lease, this Agreement and/or the Leased Property. 

“Landlord Financing Documents” means all loan agreements, bond indentures, promissory notes, mortgages, deeds of trust,
security agreements, guarantees and other documents and instruments (including all amendments, modifications, side letter and similar ancillary agreements) relating to any Landlord Financing. 

“Landlord’s Lender” means any “Fee Mortgagee” under the Lease. 

“Landlord Mortgage” means any “Fee Mortgage” under the Lease. 

  
 B-14 

 “Landlord Prohibited Person” shall mean any Person that, in the capacity it is
proposed to be acting (but not in any other capacity), is more likely than not to jeopardize Landlord’s or any of its Affiliates’ ability to hold a Gaming License or to be associated with a Gaming licensee under any applicable Gaming
Regulations (other than any Gaming Authority established by any Native American tribe). 
 “Lease” shall have the meaning
set forth in the Recitals hereto. 
 “Lease/Debt Guaranty Collateral” shall have the meaning set forth in
Section 17.4.5.1. 
 “Lease Foreclosure Transaction” shall have the meaning set forth in the
Lease. 
 “Lease Guarantor Event of Default” shall have the meaning set forth in Section 16.1.3.

 “Lease Guarantor Prohibited Person” shall mean any Person that: (a) is (or is owned or controlled by a Person that
is) generally recognized in the community as being a Person of ill repute or who has or is reasonably believed to have an adverse reputation or character, in either case which is more likely than not to (i) have a material adverse effect on
Lease Guarantor or any of its Affiliates or (ii) make such Person unsuitable under Applicable Law to hold a Gaming License or to be associated with a Gaming licensee or otherwise jeopardizes any of the Gaming Licenses of Lease Guarantor or any
of its Affiliates; or (b) is otherwise more likely than not to jeopardize Lease Guarantor’s or any of its Affiliate’s ability to hold a Gaming License or to be associated with a Gaming licensee under any applicable Gaming Regulations
(other than any Gaming Authority established by any Native American tribe). 
 “Lease Guaranty” shall mean all of the
provisions, terms and conditions of this Agreement pertaining to (x) obligations and liabilities of Lease Guarantor with respect to the Guaranteed Obligations, including the provisions, terms and conditions of Article XVII hereof, and
(y) without limitation of the preceding clause (x), Landlord’s rights and remedies in connection with any Lease Guarantor Event of Default, including the provisions, terms and conditions of Section 16.1.3
and Section 16.1.5.3, it being understood, for the avoidance of doubt, that all such provisions, terms and conditions of this Agreement are for the express benefit of Landlord. 

“Lease Guaranty Claim” shall have the meaning set forth in Section 17.2.1. 

“Lease Guaranty Security Interest” shall have the meaning set forth in Section 17.4.5.1. 

“Lease Initial Term” means the “Initial Term” under (and as defined in and subject to the terms of) the Lease. 

  
 B-15 

 “Lease Insurance Requirements” shall have the meaning set forth in
Section 12.1.1.1. 
 “Lease/MLSA Related Agreements” means, collectively, the Lease, this
Agreement, the Transition Services Agreement, and the Intercreditor Agreement. 
 “Lease Renewal Term” means any
“Renewal Term” under (and as defined in and subject to the terms of) the Lease that becomes effective under the Lease in accordance with its terms. 

“Leased Property” shall have the meaning set forth in the Lease. 

“Leasehold Financing” means any debt financing or refinancing obtained by Tenant or Tenant’s Affiliates that relates or
applies to, in whole or in part, the Lease and/or the Leased Property or revenues therefrom (or any portion thereof), including debt financing secured (in whole or in part) by a Leasehold Mortgage or Security Interest in Tenant’s leasehold
interest under the Lease. 
 “Leasehold Financing Documents” means all loan agreements, security agreements, pledge
agreements, bond indentures, promissory notes, Leasehold Mortgages, guarantees and other documents and instruments (including all amendments, modifications, side letter and similar ancillary agreements) relating to any Leasehold Financing. 

“Leasehold Foreclosure with MLSA Assumption” shall mean the Foreclosure by Leasehold Lender and (in the case of a direct
assignment) the assumption by such Leasehold Lender or its permitted designee of this Agreement, made in compliance with Section 11.1 and Article XIII of this Agreement and the applicable
provisions of the Lease, including, without limitation, Section 22.2(i) of the Lease. Without limitation, a Leasehold Foreclosure with MLSA Assumption shall not become effective hereunder until Leasehold Lender (or such designee) shall have
complied in all respects with (i) the conditions set forth in Section 11.1.3 of this Agreement, including the execution and delivery of the Tenant Assumption Agreement, and (ii) the applicable provisions of
Section 22.2(i) of the Lease. 
 “Leasehold Foreclosure with MLSA Termination” shall mean the termination of this
Agreement and all of Manager’s and Lease Guarantor’s obligations hereunder in connection with a Foreclosure by Leasehold Lender that is made in compliance in all respects with Article XIII of this Agreement and
the applicable provisions of the Lease, including, without limitation, Section 22.2(i) of the Lease. Without limitation, a Leasehold Foreclosure with MLSA Termination shall not become effective hereunder until Leasehold Lender shall have
complied with the applicable provisions of Section 22.2(i) of the Lease. 
 “Leasehold Lender” means any
“Permitted Leasehold Mortgagee” under the Lease. 

  
 B-16 

 “Leasehold Mortgage” means any “Permitted Leasehold Mortgage” under
the Lease. 
 “Licensing Event” means: 

(a) with respect to Tenant, (i) a communication (whether oral or in writing) by or from any Gaming Authority to Manager or any of its
Affiliates (a “Manager Party”) or to a member of the Subject Group or other action by any Gaming Authority that indicates that such Gaming Authority may find that the association of any member of the Subject Group with any Manager
Party is likely to (A) result in a disciplinary action relating to, or the loss of, inability to reinstate or failure to obtain, any Gaming License or any other material rights or entitlements held or required to be held by any Manager Party
under any Gaming Regulations or (B) violate any Gaming Regulations to which a Manager Party is subject; or (ii) any member of the Subject Group is required to be licensed, registered, qualified or found suitable under any Gaming
Regulations, and such Person is not or does not remain so licensed, registered, qualified or found suitable or, after becoming so licensed, registered, qualified or found suitable, fails to remain so; and 

(b) with respect to Manager, (i) a communication (whether oral or in writing) by or from any Gaming Authority to a member of the Subject
Group or a Manager Party or other action by any Gaming Authority that indicates that such Gaming Authority may find that the association of any Manager Party with any member of the Subject Group party is likely to (A) result in a disciplinary
action relating to, or the loss of, inability to reinstate or failure to obtain, any Gaming License or any other material rights or entitlements held or required to be held by any member of the Subject Group under any Gaming Regulations or
(B) violate any Gaming Regulations to which a member of the Subject Group is subject; or (ii) any Manager Party is required to be licensed, registered, qualified or found suitable under any Gaming Regulations, and such Manager Party is not
or does not remain so licensed, registered, qualified or found suitable or, after becoming so licensed, registered, qualified or found suitable, fails to remain so. 

For purposes of this definition, an “Affiliate” of Manager includes any Person for which Manager or its Affiliate is providing
management services (other than Tenant and its subsidiaries). 
 “M/T Event of Default” shall have the meaning set forth in
Section 16.1.4. 
 “Managed Facilities” shall have the meaning set forth in the Recitals hereto.

 “Managed Facilities IP” means any and all Intellectual Property owned by or licensed to Caesars IP Holder, Tenant or its
subsidiaries that is necessary for the Operation or Management of the Managed Facilities, including, without limitation, any Property Specific Guest Data and Guest Data, the Brands, the Trademarks included in Exhibit E
attached hereto, and the Property Specific IP. 

  
 B-17 

 “Managed Facilities Personnel” means all Individuals employed by Tenant or its
subsidiaries and performing services on a part-time or full-time basis at the Managed Facilities during the Term (including any Senior Executive Personnel), regardless of the specific titles given to such Individuals. 

“Managed Facilities Personnel Costs” means all cash costs and expenses associated with the employment or termination of
Managed Facilities Personnel (including the Senior Executive Personnel), including recruitment expenses, the costs of moving executive level Managed Facilities Personnel, their families and their belongings to the area in which the Managed
Facilities is located at the commencement of their employment at the Managed Facilities, compensation and benefits (including the costs of any equity based benefits at the time the economic cost is realized by Manager or its Affiliates (e.g.,
exercise rather than grant, repurchase, cash-out, etc.); provided that, if a portion of such benefits were awarded in connection with services performed at another facility owned or operated by Manager
or its Affiliates, the Managed Facilities Personnel Costs shall only include the portion of such costs which are related to such Managed Facilities Personnel’s employment on behalf of the Managed Facilities and such proportional amount shall be
included in Managed Facilities Personnel Costs regardless of whether the cost of such equity based benefits are realized while the applicable Managed Facilities Personnel is employed on behalf of the Managed Facilities or is employed at another
facility owned or operated by Manager or its Affiliates), employment Taxes, training and severance payments, all in accordance with Applicable Laws, Manager’s policies for Other Managed Facilities and Other Managed Resorts and such other
policies as may be established pursuant to this Agreement. 
 “Management Account” shall have the meaning set forth in
Section 5.4.1.3. 
 “Manager” shall mean Non-CPLV
Manager, LLC, a Delaware limited liability company, or its successors or permitted assigns (including any trustee appointed over its assets). 

“Manager Assumption Document” shall have the meaning set forth in Section 11.2.2. 

“Manager Confidential Information” means confidential or proprietary information relating to Manager’s or any of its
Affiliates’ (other than Tenant’s) businesses that derives value, actual or potential, from not being generally known to others, including all Proprietary Information and Systems, proprietary Manuals, confidential fees and confidential
terms of all Centralized Services and any confidential or proprietary documents and information specifically designated by Manager in writing as confidential or proprietary to which Tenant and Landlord obtain access solely by virtue of the
relationship between the Parties; provided that “Manager Confidential Information” shall not include Property Specific Guest Data or Guest Data or any information that Tenant independently possesses solely in its capacity as a
member of Services Co. 

  
 B-18 

 “Manager Event of Default” has the meaning set forth in
Section 16.1.2. 
 “Manager Indemnified Parties” shall have the meaning set forth in
Section 12.3.1. 
 “Manager Prohibited Person” shall mean any Person that: (a) is (or is
owned or controlled by a Person that is) generally recognized in the community as being a Person of ill repute or who has or is reasonably believed to have an adverse reputation or character, in either case which is more likely than not to
(i) have a material adverse effect on Manager or any of its Affiliates or (ii) make such Person unsuitable under Applicable Law to hold a Gaming License or to be associated with a Gaming licensee or otherwise jeopardizes any of the Gaming
Licenses of Manager or any of its Affiliates; or (b) is otherwise more likely than not to jeopardize Manager’s or any of its Affiliate’s ability to hold a Gaming License or to be associated with a Gaming licensee under any applicable
Gaming Regulations (other than any Gaming Authority established by any Native American tribe). 
 “Manager’s Designated
Financial Officer” shall mean the highest level financial officer among the Senior Executive Personnel. 
 “Manager’s
Standard of Care” shall have the meaning set forth in Section 2.1.2. 
 “Manager’s System
Policies” shall have the meaning set forth in Section 2.1.3. 
 “Manuals” means all
written, digitized, computerized or electronically formatted manuals and other documents and materials prepared and used by Manager for other Managed Resorts as instructions, requirements, guidance or policy statements with respect to Manager’s
Other Managed Resorts, which are loaned or otherwise made available to Tenant. 
 “Monetary Tenant Default” shall have the
meaning set forth in Section 17.2.1. 
 “Monthly Debt Service Schedule” shall have the meaning
set forth in Section 5.4.6. 
 “Monthly Report” shall have the meaning set forth in
Section 10.2. 
 “New Lease” shall have the meaning set forth in the Lease. 

“Non-Consented Lease Termination” shall have the meaning set forth in
Section 21.1.1. 

  
 B-19 

 “Non-Core Tenant Competitor” means a
Person that is engaged or is an Affiliate of a Person that is engaged in the ownership or operation of a Gaming business so long as (i) such Person’s consolidated annual gross gaming revenues do not exceed Five Hundred Million and No/100
Dollars ($500,000,000.00) (which amount shall be increased by the Escalator on the first (1st) day of each Lease Year, commencing with the second
(2nd) Lease Year) and (ii) such Person does not, directly or indirectly, own or operate a Gaming Facility within thirty (30) miles of a Gaming Facility directly or indirectly owned or
operated by CEC. For purposes of the foregoing, (a) ownership of the real estate and improvements where a Gaming business is conducted, without ownership of the Gaming business itself, shall not be deemed to constitute the ownership of a Gaming
business and (b) the terms “Affiliate,” “Escalator,” “Lease Year,” “Gaming Facility” and “Person” shall each have the meaning given thereto in the Lease. 

“Non-Discriminatory” means consistent, commercially reasonable, fair treatment of all
Persons regardless of the ownership, control or affiliations of any such Persons (i) subject to the same or substantially similar policies and procedures, including policies and procedures related to the standards of service and quality
required to be provided by such Persons or (ii) participating jointly in the same transactions or relationships or participating in separate, but substantially similar, transactions or relationships for the procurement of goods or services, in
each case, including, without limitation, the unbiased and consistent allocation of costs, expenses, savings and benefits of any such policies, procedures, relationships or transactions on the basis of a fair and equitable methodology; provided,
however, that goods and services shall not be required to be provided in a manner that exceeds the standard of service required to be provided at the Managed Facilities under the terms of this Agreement to be deemed
“Non-Discriminatory” nor shall the standard of service and quality provided at the facilities owned or operated by each such Person be required to be similar so long as, in each case, both (x) a
commercially reasonable business justification (without giving effect to Lease economics) that is not discriminatory to Landlord and Joliet Landlord, taken as a whole, or the Managed Facilities and the Joliet Managed Facility, taken as a whole,
exists for the manner in which such goods and services are provided, and (y) the manner in which such goods and services are provided is not intended or designed to frustrate, vitiate or reduce (I) the rights of Landlord under this
Agreement, the Lease, or the other Lease/MLSA Related Agreements or the rights of the Joliet Landlord under the Joliet MLSA, the Lease (as defined in the Joliet MLSA) or the other Lease/MLSA Related Agreements (as defined in the Joliet MLSA), or
(II) the payment of Variable Rent (as such term is defined in the Lease) under the Lease or under the Lease (as defined in the Joliet MLSA). 

“Non-Third Party Financing” means any financing in which (a) Tenant, Lease
Guarantor or Manager or any Affiliate of any of them acts as a trustee, agent or similar representative or (b) Tenant, Lease Guarantor or Manager or any Affiliate of any of them (excluding any Person that is such an Affiliate as a result of its
ownership of publicly traded equity interests in any Person) holds (excluding any ownership of publicly traded equity interests in any Person) either (i) a Controlling direct or indirect equity interest or (ii) a direct or indirect equity
interest of at least ten percent (10%) of the outstanding equity interests in any such lender, trustee, agent or other financing provider (any lender, trustee, agent or other financing provider described under clause (b)(i) or

  
 B-20 

 
(b)(ii), a “Sponsor Lender Entity”), and in each such case the principal amount of such financing provided by any Sponsor, its Affiliates, and/or its Sponsor Lender
Entities either (x) exceeds twenty-five percent (25%) of the aggregate principal amount of such financing or (y) is not a strictly “passive” investment. For purposes of this definition, “passive” means having no
ability to exercise any decision-making in respect of the overall financing other than, for the avoidance of doubt, customary voting rights attributable to the financing that extend to all other providers of such financing. 

“Omnibus Agreement” means that certain Second Amended and Restated Omnibus Agreement and Enterprise Services Agreement, dated
as of the date hereof, by and among Services Co, CEOC, CERP, CGPH, CLC and Caesars World LLC, as further amended, restated, supplemented or otherwise modified from time to time. 

“Opco Debt Guaranty” shall have the meaning set forth in Section 17.4.5.1. 

“Opco First Lien Debt” shall mean the indebtedness of CEOC under (i) Tenant’s Initial Financing (as such term is
defined in the Lease) and (ii) any refinancing by CEOC of the indebtedness of CEOC referenced in clause (i) of this definition that constitutes a Leasehold Financing. 

“Opco First Lien Debt Security Interest” shall have the meaning set forth in Section 17.4.5.1. 

“Operate”, “Operating” or “Operation” means to manage, operate, use, maintain, market,
promote, repair, and provide other management or operations services to the Managed Facilities, all as more particularly described in this Agreement. 

“Operating Account” shall have the meaning set forth in Section 5.4.1.1. 

“Operating Deficiency Cause” shall have the meaning set forth in Section 16.1.1.5. 

“Operating Deficiency Notice” shall have the meaning set forth in Section 16.1.1.5. 

“Operating Expenses” means, with respect to any period of time, all ordinary and necessary expenses incurred in the Operation
of the Managed Facilities, including all: (a) Managed Facilities Personnel Costs and all other Reimbursable Expenses; (b) all expenses for maintenance and repair; (c) costs for utilities; (d) administrative expenses, including
all costs and expenses relating to the Bank Accounts and Certified Financial Statements; (e) costs and expenses for marketing, advertising and promotion of the Managed Facilities; (f) amounts payable to Manager as set forth in this
Agreement; (g) costs for the lease, rental or license of real or personal property (including payments by Tenant under the Lease or with respect to Intellectual Property); (h) Insurance Costs; (i) Taxes (other than income Taxes);
(j) costs for the lease, rental or license of real or personal (including Intellectual Property); (k) an allocation (based upon relative net revenues of all of Tenant’s operating subsidiaries) of

  
 B-21 

 
the operating expenses of Tenant; (l) all amounts to be paid to Manager or its Affiliates in connection with any redemptions under the Total Rewards Program; and (m) Centralized
Services Charges, all as determined in accordance with GAAP, but expressly excluding the following: (i) costs of Building Capital Improvements and ROI Capital Improvements; and (ii) fees and costs for professional services, including the
fees and expenses of attorneys, accountants and appraisers, incurred directly or indirectly in connection with any category of expense that is not itself an Operating Expense and required to be capitalized in accordance with GAAP. 

“Operating Limitations” means: (a) any provision of the Leasehold Financing Documents or any applicable ground lease
(including the Lease), easement or similar obligation (in each case as in effect as of the Commencement Date or otherwise effectuated as permitted under the Lease) limiting or otherwise imposing conditions on Manager with respect to the Operation of
the Managed Facilities and (b) limitations or conditions arising under Applicable Laws. Notwithstanding anything contained in this Agreement, absent Landlord’s consent, no change or amendment to the Operating Limitations contained in the
foregoing clause (a) as in effect on the Commencement Date effected at any time that Tenant is a Controlled Subsidiary of Lease Guarantor and Manager is a wholly owned subsidiary of Lease Guarantor (other than any changes to any ground
lease made by or with the consent of Landlord) shall relieve Manager from (i) its obligations to Operate the Managed Facilities in compliance with the Operating Standard and in a Non-Discriminatory manner
or (ii) effect any decrease in the level of service or quality of Operation of the Managed Facilities required as of the Commencement Date pursuant to the Operating Standard. 

“Operating Standard” shall have the meaning set forth in Section 2.1.4. 

“Operating Year” means each calendar year during the Term, except the initial Operating Year shall be a partial year
beginning on the Commencement Date and ending on the following December 31, and if this Agreement is terminated effective on a date other than the last day of an Operating Year in any year, then the last Operating Year shall also be a partial
year ending on the effective date of expiration or termination. 
 “Other Managed Facilities” means the hotels and casinos,
time-share, interval ownership facilities, vacation clubs, and other lodging facilities and residences that are owned or leased by Landlord and its Affiliates (and/or any of their respective successors or assigns) and leased and operated by or on
behalf of Manager (or such other wholly owned subsidiary of Lease Guarantor) under management agreements among CEOC and/or any of its subsidiaries, Manager (or such other wholly owned subsidiary of CEC) and any such other parties to such agreements,
excluding the Managed Facilities. As of the date of this Agreement, the Other Managed Facilities are as follows: (a) the CPLV Managed Facility and (b) the Joliet Managed Facility. 

“Other Managed Resorts” means hotels and casinos, time-share, interval ownership facilities, vacation clubs, and other
lodging facilities and residences that are owned and/or operated by or on behalf of Manager or its Affiliates under any brand or no brand, but excluding the Managed Facilities and the Other Managed Facilities. 

  
 B-22 

 “Other MLSAs” means, collectively or individually, as the context may require,
(i) the CPLV MLSA and (ii) the Joliet MLSA. 

“Out-of-Pocket Expenses” means the reasonable
out-of-pocket travel costs (without mark-up) incurred by Manager or its Affiliates to third parties in performing its services
under this Agreement, including air and ground transportation, meals, lodging and gratuities. 
 “Ownership Interests”
means all forms of ownership, whether legal or beneficial, voting or non-voting, including stock, partnership interests, limited liability company membership or ownership interests, joint tenancy interests,
proprietorship interests, trust beneficiary interests, proxy interests, power-of-attorney interests, and all options, warrants and instruments convertible into such
other interests, and any other right, title or interest not included in this definition that constitutes a form of direct or indirect ownership in a Person. 

“Parent Company” means, with respect to any Person, any Entity that holds any form of ownership interest in such Person,
whether directly or indirectly through an ownership interest in one (1) or more other Entities holding an ownership interest in such Person. 

“Party” or “Parties” shall have the meaning set forth in the Preamble hereto, subject to the provisions of
Section 19.3 and 20.2 as such terms are used in said Sections. 
 “Permitted Uses” shall
have the meaning set forth in Section 7.1.2. 
 “Person” means an Individual or Entity, as the
case may be. 
 “Prime Rate” means, on any date, a rate equal to the annual rate on such date publicly announced by
JPMorgan Chase Bank, N.A. (provided that if JPMorgan Chase Bank, N.A. ceases to publish such rate, the Prime Rate shall be determined according to the Prime Rate of another nationally known money center bank reasonably selected by Landlord),
to be its prime rate for ninety (90)-day unsecured loans to its corporate borrowers of the highest credit standing, but in no event greater than the maximum rate then permitted under applicable law. 

“Prior Related Dispute” shall have the meaning set forth in Section 18.2.1.1. 

“Promotional Allowances” means the value of goods and services given to customers of the Managed Facilities on a
complimentary basis, such as complimentary food, beverages, accommodations, entertainment and parking, promotions, credits or discounts provided to any customer, any permitted or awarded “free play” and credits, coupons and vouchers issued
for redemption by a customer as well as the value of cash and cash-back Complimentaries given to customers of the Managed Facilities. 

  
 B-23 

 “Property Specific Guest Data” means any and all Guest Data, to the extent in or
under the possession or control of Tenant, Services Co, Manager or their respective Affiliates identifying, describing, concerning or generated by prospective, actual or past guests, website visitors and/or customers of a Managed Facility, including
retail locations, restaurants, bars, casino and Gaming Facilities (as defined in the Lease), spas and entertainment venues therein, but excluding, in all cases, (i) Guest Data that has been integrated into analytics, reports, or other similar
forms in connection with the Total Rewards Program or any other customer loyalty program of Services Co and its Affiliates (it being understood that this exception shall not apply to such Guest Data itself, i.e. in its original form prior to
integration into such analytics, reports, or other similar forms in connection with the Total Rewards Program or other customer loyalty program), (ii) Guest Data that concerns facilities that are owned or operated by CEC or its Affiliates, other
than the applicable Managed Facility, and that does not concern the applicable Managed Facility, and (iii) Guest Data that concerns Proprietary Information and Systems and is not specific to the applicable Managed Facility. 

“Property Specific IP” means all Intellectual Property that is both (i) specific to a Managed Facility and
(ii) currently or hereafter owned by CEOC or any of its subsidiaries, including the Intellectual Property set forth on Exhibit G attached hereto. 

“Proprietary Information and Systems” means the “Service Provider Proprietary Information and Systems”, as such
term is defined in the Omnibus Agreement. 
 “Purchasing Program” shall have the meaning set forth in
Section 5.6. 
 “Reimbursable Expenses” means the following expenses to the extent incurred by
Manager or any of its Affiliates in accordance with this Agreement or the Annual Budget: (a) all Managed Facilities Personnel Costs; (b) all amounts paid by Manager to third parties relating to Third-Party Centralized Services or any other
Centralized Services Charges or other expenses incurred in connection with Centralized Services pursuant to Section 4.1 that are paid by Manager; (c) all
Out-of-Pocket Expenses incurred by Manager directly in connection with its Operation of the Managed Facilities; (d) payments made or incurred by Manager in
accordance with the Annual Budget to third parties for goods and services in the ordinary course of business in the Operation of the Managed Facilities; (e) payments made or incurred by Manager in connection with the Managed Facilities and as
authorized under this Agreement; (f) all amounts owed in connection with any redemption under the Total Rewards Program; (g) all amounts actually incurred by Manager to third-parties in maintaining the Property Specific Guest Data
(including the creation of back-up tapes related thereto); and (h) all Taxes to be paid by Tenant to Manager in accordance with Section 3.6. 

“Renewal Term” shall have the meaning set forth in Section 2.4.1. 

“Reservations System” means any reservations system operated by Services Co or any of its Affiliates. 

  
 B-24 

 “Restricted Payment” shall have the meaning set forth in
Section 17.4.4. 
 “ROI Capital Improvements” means all alterations, improvements, replacements,
renewals and additions to the Managed Facilities that are capitalized under GAAP and involve a material change in the primary use of, or a material physical expansion or alteration of, the Managed Facilities (including adding or removing guest
rooms, meeting rooms or changing the configuration of the Managed Facilities). 
 “Routine Capital Improvements” means all
maintenance, repairs, alterations, improvements, replacements, renewals and additions to the Managed Facilities (including replacements and renewals of FF&E, exterior and interior painting, resurfacing of walls and floors, resurfacing parking
areas and replacing folding walls) that are capitalized under GAAP and not depreciated as real property. For avoidance of doubt, Routine Capital Improvements expressly exclude Building Capital Improvements and ROI Capital Improvements. 

“Security Interest” means any security interest, collateral assignment, pledge or similar document or instrument that
encumbers any assets belonging to Tenant or any of its subsidiaries relating to the Managed Facilities (or any portion thereof or interest therein) that constitutes a personal property interest (including all Supplies located at or used in the
Operation of the Managed Facilities, the Bank Accounts and Tenant’s rights under this Agreement) and/or any direct or indirect Ownership Interests in Tenant. 

“Senior Executive Personnel” means the Individuals employed from time to time as the general manager of the Managed
Facilities (or any individual Managed Facility) and the general manager’s direct reports and other executive staff serving such functions, regardless of the specific titles given to such Individuals. 

“Services Co” means (1) CES or (2) any replacement or successor services company engaged in performing services on
behalf of Tenant and related entities similar to those performed by, or contemplated to be performed by, CES on the date hereof. 

“Services Co LLC Agreement” means that certain Amended and Restated Limited Liability Company Agreement of Services Co, dated
as of May 20, 2014, as amended, restated, supplemented or otherwise modified from time to time. 
 “Severed Lease”
shall have the meaning set forth in Section 16.4. 
 “Severed MLSA” shall have the meaning set
forth in Section 16.4. 
 “Software” means, as they exist anywhere in the world, any computer
software, firmware, microcode, operating system, embedded application or other program, including all source code, object code, specifications, databases, designs and documentation related thereto. 

  
 B-25 

 “SPE Tenant” means, collectively or individually, as the context may require,
each Tenant other than CEOC. 
 “Sponsor” means each of (i) collectively Apollo Global Management, Inc., Apollo
Management VI, L.P. and its affiliated co-investment partnerships and their respective Affiliates (other than any “portfolio company”) and (ii) collectively, TPG Capital, L.P., TPG Partners V,
L.P. and its affiliated co-investment partnerships and their respective Affiliates (other than any “portfolio company”). 

“Springing Lien Subsidiary” means a subsidiary of CEC other than (i) CEOC, Tenant, CPLV Tenant, Joliet Tenant or any of
their respective subsidiaries, (ii) the borrower (or any co-borrower) or the issuer (or any co-issuer) under the OpCo First Lien Debt that is secured by the
applicable Lease/Debt Guaranty Collateral and (iii) a direct or indirect subsidiary of one or more of the entities described in clause (ii) above that is a “restricted subsidiary” under the OpCo First Lien Debt that is secured by
the applicable Lease/Debt Guaranty Collateral. 
 “Stated Expiration Date” shall have the meaning set forth in the Lease.

 “Subject Group” means Tenant, Tenant’s Affiliates and its and their principals, direct or indirect shareholders,
officers, directors, agents, employees and other related Persons (including in the case of any trusts or similar Persons, the direct or indirect beneficiaries of such trust or similar Persons) (excluding Manager and its Affiliates (other than Tenant
and its Controlled Subsidiaries) and its and their principals, direct or indirect shareholders, officers, directors, agents, employees and other related Persons). 

“Subsequent Related Dispute” shall have the meaning set forth in Section 18.2.1.1. 

“Substantial Transfer” means, in the case of CEC, Manager or Tenant, the sale or other disposition by such Party and its
Controlled Subsidiaries of all of the direct and indirect assets of such Party and its Controlled Subsidiaries (other than assets that are, in the aggregate, de minimis) in a single transaction or series of related transactions. 

“Supplies” means all operating supplies and equipment used in the Operation of the Managed Facilities. 

“Support Facilities” means all facilities located in or attached to, and/or operated on, the Leased Property or any portion
thereof, including, without limitation, any hotel and hotel guest rooms and suites, food, beverage, entertainment and retail facilities and parking structures. 

“Taking” shall have the meaning set forth in the Lease. 

“Taxes” means all taxes, assessments, duties, levies and charges, including ad valorem taxes on real property, commercial
activity taxes, personal property 

  
 B-26 

 
taxes, Gaming taxes, fees and charges and business and occupation taxes, imposed by any Governmental Authority against Tenant in connection with the ownership or Operation of the Managed
Facilities, but expressly excluding income, franchise or similar taxes imposed on Tenant. 
 “Technology Systems” means
certain technology systems, including the Reservations System, Proprietary Information and Systems, third-party Software, hardware and telecommunications equipment and any system upgrades and/or replacements therefor. 

“Tenant” shall have the meaning set forth in the Preamble hereto. 

“Tenant Assumption Agreement” shall have the meaning set forth in Section 11.1.3.2. 

“Tenant Competitor” means, as of any date of determination, any Person (other than Tenant, CEOC, Lease Guarantor and any of
their respective Affiliates) that is engaged, or is an Affiliate of a Person that is engaged, in the ownership or operation of a Gaming business; provided that (i) for purposes of the foregoing, ownership of the real estate and
improvements where a Gaming business is conducted, without ownership of the Gaming business itself, shall not be deemed to constitute the ownership of a Gaming business, (ii) any investment fund or other Person with an investment representing
an equity ownership of fifteen percent (15%) or less in a Tenant Competitor and no Control over such Tenant Competitor shall not be a Tenant Competitor, (iii) solely for purposes of Section 11.4.1.2(iii), a Person with an investment
representing an equity ownership of twenty-five percent (25%) or less in a Non-Core Tenant Competitor shall be deemed to not have Control over such Tenant Competitor, and (iv) Landlord shall not be deemed
to become a Tenant Competitor by virtue of it or its Affiliate’s acquiring ownership, or engaging in the operation of, a Gaming business, if Landlord or any of its Affiliates first offered CEC (or its Subsidiary, as applicable) the opportunity
to lease and manage such Gaming business pursuant to the ROFR Agreement (as defined in the Lease) and CEC (or its Subsidiary, as applicable) did not accept such offer. For purposes of this definition, the terms “Affiliate,”
“Control,” “Person” and “Subsidiary” shall each have the meaning given thereto in the Lease. 

“Tenant Confidential Information” means confidential or proprietary information relating to Tenant’s or any of its
Affiliates’ businesses that derives value, actual or potential, from not being generally known to others specifically designated by Tenant in writing as confidential or proprietary to which Manager and Landlord obtain access solely by virtue of
the relationship between the Parties. “Tenant Confidential Information” shall include Property Specific Guest Data and Guest Data. 

“Tenant Indemnified Parties” shall have the meaning set forth in Section 12.3.2. 

  
 B-27 

 “Tenant Lease Event of Default” shall mean the occurrence (and continuance) of a
“Tenant Event of Default” (as such term is defined in the Lease) under the Lease. 
 “Tenant MLSA Event of
Default” shall have the meaning set forth in Section 16.1.1. 
 “Tenant Prohibited
Person” means any Person that is (or is owned or controlled by a Person that is) generally recognized in the community as being a Person of ill repute or who has or is reasonably believed to have an adverse reputation or character, in
either case which is more likely than not to jeopardize Tenant’s or any of its Affiliates’ ability to hold a Gaming license or to be associated with a Gaming Licensee under any applicable Gaming Regulations (other than any Gaming Authority
established by any Native American tribe). 
 “Term” shall have the meaning set forth in
Section 2.4.1. 
 “Terminated for Cause” (or “Termination for Cause”) means
either of the following subparagraphs (1) or (2), which may be elected by Landlord at its option: 
 (1) (i) Landlord
has expressly elected to (and does) terminate Manager as manager hereunder and notified Manager thereof, (ii) Landlord has determined in good faith that such termination is for Cause and (iii) an arbitrator shall have made a finding that
Cause existed to terminate Manager in accordance with the following sentence. Manager, Tenant, Lease Guarantor and Landlord agree that the determination of whether Cause existed to terminate Manager will be decided by binding arbitration, on an
expedited basis, pursuant to the Commercial Rules of the American Arbitration Association and the Procedures for Large, Complex, Commercial Disputes, in effect as of the Commencement Date, before a single arbitrator who shall be mutually acceptable
to Manager and Landlord and who shall conduct the arbitration in New York, New York and who shall apply New York Law (collectively, a “Cause Arbitration”). In the event of a termination by Landlord of Manager under
this clause (1), Lease Guarantor’s obligations under Article XVII shall continue throughout the pendency of the Cause Arbitration, and in the event the arbitrator determines that Cause did not exist,
(a) Lease Guarantor’s obligations under Article XVII shall terminate and be deemed to have terminated as of such date of Manager’s termination and (b) Landlord shall reimburse Lease Guarantor for
(i) any amounts actually received by Landlord pursuant to Lease Guarantor’s obligations under this Agreement in respect of any period following such termination during which Manager was actually not acting as manager of the Managed
Facilities and (ii) any reasonable and customary legal expenses actually incurred by Lease Guarantor in connection with such arbitration. In the event such arbitrator determines that Cause did exist, Lease Guarantor shall reimburse Landlord for
any reasonable and customary legal expenses actually incurred by Landlord in connection with the arbitration. 
 (2) (i) Landlord has
determined in good faith that Cause exists to terminate Manager as manager, (ii) Landlord has delivered written notice to Manager that it has 

  
 B-28 

 
determined in good faith that Cause exists to terminate Manager as manager hereunder and that Landlord shall commence a Cause Arbitration to determine whether or not Cause exists and
(iii) the arbitrator in a Cause Arbitration determines that Cause exists to terminate Manager, and Landlord thereafter terminates Manager as manager. For the avoidance of doubt, if such arbitrator determines that Cause did not exist to
terminate Manager, then Manager shall not be terminated and shall continue to manage the Managed Facilities pursuant to the terms of this Agreement and all obligations of Lease Guarantor under Article XVII shall remain in
place, all in accordance with this Agreement. Further, in the event such arbitrator determines (x) that Cause did not exist, Landlord shall reimburse Lease Guarantor for any reasonable and customary legal expenses actually incurred by Lease
Guarantor in connection with the Cause Arbitration, or (y) that Cause did exist, Lease Guarantor shall reimburse Landlord for any reasonable and customary legal expenses actually incurred by Landlord in connection with the Cause Arbitration.

 For purposes of the foregoing, “Cause” shall mean: (i) intentional acts or intentional omissions of Manager to the
material detriment of assets leased by Tenant or the Joliet Tenant or owned by Landlord or the Joliet Landlord, taken as a whole, for the benefit of other assets managed, owned or operated by Manager (or any other Affiliate of CEC), (ii) fraud,
(iii) gross negligence or (iv) willful misconduct. 
 “Third-Party Centralized Services” shall have the meaning
set forth in Section 4.1. 
 “Third-Party Manager” shall have the meaning set forth in
Section 5.10. 
 “Third-Party Operated Areas” shall have the meaning set forth in
Section 5.10. 
 “Total Rewards Program” means the Total Rewards® customer loyalty program as implemented from time to time as described more fully in the Omnibus Agreement. 

“Transfer” means any Assignment or Transfer of Ownership Interests. 

“Transfer of Ownership Interests” means, with respect to any Person, any: (a) direct or indirect sale, assignment,
disposition, conveyance, gift, pledge or other transfer, in whole or in part, of any Ownership Interests in such Person or any Parent Companies of such Person; (b) merger, consolidation, reorganization or other restructuring of such Person or
any Parent Companies of such Person; or (c) issuance of additional Ownership Interests in such Person or any Parent Companies of such Person that would have the effect of diluting voting rights or beneficial ownership of the Ownership Interests
in such Person or any Parent Companies of such Person, in each case whether voluntary, involuntary, by operation or law or otherwise (including as a result of any divorce, bankruptcy or dissolution proceedings, by declaration of or transfer in
trust, or under a will or the laws of intestate succession). 

  
 B-29 

 “Transition Period” means the two-year
period following the expiration of this Agreement on the Stated Expiration Date or the termination of this Agreement prior to the end of the Term; provided that the Transition Period shall be less than two (2) years (i) after a
termination of this Agreement by Landlord, at the election of Landlord in its sole discretion and (ii) following a Leasehold Foreclosure with MLSA Termination, at the sole election of the person providing management services with respect to the
Managed Facilities under the Replacement Management Agreement. 
 “Transition Services Agreement” means that certain
Transition of Management Services Agreement (Non-CPLV), dated as of the date hereof, as amended, restated, supplemented or otherwise modified from time to time. 

  
 B-30 

 EXHIBIT C 

[Reserved] 

  
 C-1 

 EXHIBIT D 

[Reserved] 

  
 D-1 

 EXHIBIT E 

TO MANAGEMENT AND LEASE SUPPORT AGREEMENT 

TRADEMARKS 
 Any Trademarks
included in System-wide IP that are necessary for the Operation or Management of the Managed Facilities. 

  
 E-1 

 EXHIBIT F 

TO MANAGEMENT AND LEASE SUPPORT AGREEMENT 

LIST OF BRANDS 
 Horseshoe Council
Bluffs 
 Harrah’s Council Bluffs 
 Harrah’s
Metropolis 
 Horseshoe Southern Indiana 
 Horseshoe Hammond

 Horseshoe Bossier City 
 Harrah’s Bossier City
(Louisiana Downs) 
 Harrah’s North Kansas City 
 Grand
Biloxi Casino Hotel 
 Horseshoe Tunica 
 Tunica Roadhouse

 Caesars Atlantic City 
 Bally’s Atlantic City 

Harrah’s Lake Tahoe 
 Harvey’s Lake Tahoe 

Harrah’s Reno 
 Bluegrass Downs 

  
 F-1 

 EXHIBIT G 

TO MANAGEMENT AND LEASE SUPPORT AGREEMENT 

PROPERTY SPECIFIC IP 
  

																													
	 Mark
	  	Jurisdiction	  	Brand	  	Specific/
Enterprise	  	Property	  	App. No.	 	  	App. Date	 	  	Reg. No.	 	  	Reg. Date	 	  	Status	 
	$10,000 Pyramid	  	New Jersey	  	Bally’s	  	Specific	  	Bally’s AC	  	 	NA	 	  	 	2/26/1992	 	  	 	10,296	 	  	 	2/26/1992	 	  	 	Registered	 
	6ix A Bistro (logo)	  	New Jersey	  	Bally’s	  	Specific	  	Bally’s AC	  	 	NA	 	  	 	7/16/2008	 	  	 	23095	 	  	 	7/16/2008	 	  	 	Registered	 
	Bally’s Blue Martini	  	New Jersey	  	Bally’s	  	Specific	  	Bally’s AC	  	 	NA	 	  	 	2/4/2003	 	  	 	21,261	 	  	 	2/4/2003	 	  	 	Registered	 
	Gold Tooth Gerties	  	New Jersey	  	Bally’s	  	Specific	  	Bally’s AC	  	 	NA	 	  	 	12/5/2000	 	  	 	20,499	 	  	 	12/5/2000	 	  	 	Registered	 
	Mountain Bar (and Logo)	  	New Jersey	  	Bally’s	  	Specific	  	Bally’s AC	  	 	NA	 	  	 	8/11/1997	 	  	 	14,809	 	  	 	8/11/1997	 	  	 	Registered	 
	Noodle Village (logo)	  	New Jersey	  	Bally’s	  	Specific	  	Bally’s AC	  	 	NA	 	  	 	3/30/2007	 	  	 	22733	 	  	 	3/30/2007	 	  	 	Registered	 
	Pickles – More than a Deli	  	New Jersey	  	Bally’s	  	Specific	  	Bally’s AC	  	 	NA	 	  	 	12/17/1998	 	  	 	15,515	 	  	 	12/17/1998	 	  	 	Registered	 
	Studio (Stylized)	  	New Jersey	  	Bally’s	  	Specific	  	Bally’s AC	  	 	NA	 	  	 	7/14/1998	 	  	 	15,289	 	  	 	7/14/1998	 	  	 	Registered	 
	The Vixens (Logo)	  	New Jersey	  	Bally’s	  	Specific	  	Bally’s AC	  	 	NA	 	  	 	8/3/2010	 	  	 	23535	 	  	 	8/3/2010	 	  	 	Registered	 
	Wild about Wings (logo)	  	New Jersey	  	Bally’s	  	Specific	  	Bally’s AC	  	 	NA	 	  	 	8/3/2010	 	  	 	23534	 	  	 	8/3/2010	 	  	 	Registered	 
	Boardwalk Cupcakes (logo)	  	United
States of
America	  	Bally’s	  	Specific	  	Bally’s AC	  	 	86/422551	 	  	 	10/13/2014	 	  	 	4780684	 	  	 	7/28/2015	 	  	 	Registered	 
	Champagne Slots	  	United
States of
America	  	Bally’s	  	Specific	  	Bally’s AC	  	 	78/457601	 	  	 	7/27/2004	 	  	 	3020236	 	  	 	11/29/2005	 	  	 	Registered	 

  
 G-1 

																													
	 Mark
	  	Jurisdiction	  	Brand	  	Specific/
Enterprise	  	Property	  	App. No.	 	  	App. Date	 	  	Reg. No.	 	  	Reg. Date	 	  	Status	 
	Coyote Kate’s Slot Parlor	  	United
States of
America	  	Bally’s	  	Specific	  	Bally’s AC	  	 	76/067657	 	  	 	6/9/2000	 	  	 	2523523	 	  	 	12/25/2001	 	  	 	Registered	 
	Preview	  	United
States of
America	  	Bally’s	  	Specific	  	Bally’s AC	  	 	77/450581	 	  	 	4/17/2008	 	  	 	3555164	 	  	 	12/30/2008	 	  	 	Registered	 
	Wild, Wild West Casino	  	United
States of
America	  	Bally’s	  	Specific	  	Bally’s AC	  	 	75/106946	 	  	 	5/13/1996	 	  	 	2837537	 	  	 	5/4/2004	 	  	 	Registered	 
	Grand Biloxi (Logo)	  	United
States of
America	  	Grand	  	Specific	  	Formerly
Harrah’s
Gulf Coast	  	 	85/701599	 	  	 	2/9/1996	 	  	 	4286319	 	  	 	2/24/1998	 	  	 	Registered	 
	Stir Cove Backstage Grill (Design)	  	Iowa	  	Harrah’s	  	Specific	  	Harrah’s
Counsel
Bluffs	  	 	W00791884	 	  	 	7/13/2012	 	  	 	W00791884	 	  	 	7/13/2012	 	  	 	Registered	 
	Stir Cove Concert Series (Design)	  	Iowa	  	Harrah’s	  	Specific	  	Harrah’s
Counsel
Bluffs	  	 	W00793603	 	  	 	8/2/2012	 	  	 	W00793603	 	  	 	8/2/2012	 	  	 	Registered	 
	Pepper Rose (Design)	  	Louisiana	  	Harrah’s	  	Specific	  	Harrah’s
Louisiana
Downs	  	 	NA	 	  	 	12/17/2001	 	  	 	57-2528	 	  	 	12/17/2001	 	  	 	Registered	 
	American River Cafe (Block)	  	Nevada	  	Harrah’s	  	Specific	  	Harrah’s
Lake
Tahoe	  	 	30 34	 	  	 	5/29/1997	 	  	 	SM00300034	 	  	 	5/29/1997	 	  	 	Registered	 
	American River Cafe (Design)	  	Nevada	  	Harrah’s	  	Specific	  	Harrah’s
Lake
Tahoe	  	 	30-253	 	  	 	11/17/1997	 	  	 	30-450	 	  	 	11/17/1997	 	  	 	Registered	 
	Friday’s Station (Block)	  	Nevada	  	Harrah’s	  	Specific	  	Harrah’s
Lake
Tahoe	  	 	30-253	 	  	 	8/26/1997	 	  	 	30-253	 	  	 	8/26/1997	 	  	 	Registered	 
	Quick Pik – Quick Pick	  	Nevada	  	Harrah’s	  	Specific	  	Harrah’s
Reno	  	 	22-778	 	  	 	6/23/1989	 	  	 	22-778	 	  	 	6/23/1989	 	  	 	Registered	 
	South Shore Room	  	Nevada	  	Harrah’s	  	Specific	  	Harrah’s
Lake
Tahoe	  	 	18-002	 	  	 	9/1/1982	 	  	 	18-002	 	  	 	9/1/1982	 	  	 	Registered	 

  
 G-2 

																													
	 Mark
	  	Jurisdiction	  	Brand	  	Specific/
Enterprise	  	Property	 	App. No.	 	  	App. Date	 	  	Reg. No.	 	  	Reg. Date	 	  	Status	 
	Andreotti (Block)	  	United
States of
America	  	Harrah’s	  	Specific	  	Harrah’s
Reno	 	 	75/646182	 	  	 	2/19/1999	 	  	 	2335359	 	  	 	3/28/2000	 	  	 	Registered	 
	Bellissimo	  	United
States of
America	  	Harrah’s	  	Specific	  	Harrah’s
Gulf Coast	 	 	77/032971	 	  	 	10/31/2006	 	  	 	3246044	 	  	 	5/29/2007	 	  	 	Registered	 
	Bridges Dining Company	  	United
States of
America	  	Harrah’s	  	Specific	  	Harrah’s
Metropolis	 	 	86/433899	 	  	 	10/24/2014	 	  	 	4759692	 	  	 	6/23/2015	 	  	 	Registered	 
	Carvings	  	United
States of
America	  	Harrah’s	  	Specific	  	Harrah’s
Reno	 	 	78/732311	 	  	 	10/13/2005	 	  	 	3141982	 	  	 	9/12/2006	 	  	 	Registered	 
	Fight Republic (Block)	  	United
States of
America	  	Harrah’s	  	Specific	  	Harrah’s
Reno	 	 	85/346117	 	  	 	6/14/2011	 	  	 	4100290	 	  	 	2/14/2012	 	  	 	Registered	 
	Joy Luck Noodle Bar	  	United
States of
America	  	Harrah’s	  	Specific	  	Harrah’s
Reno	 	 	77/634470	 	  	 	12/16/2008	 	  	 	3647464	 	  	 	6/30/2009	 	  	 	Registered	 
	Magnolia House (Block)	  	United
States of
America	  	Harrah’s	  	Specific	  	Harrah’s
Gulf Coast	 	 	86/235367	 	  	 	3/28/2014	 	  	 	4730291	 	  	 	5/5/2015	 	  	 	Registered	 
	Oshi (Block)	  	United
States of
America	  	Harrah’s	  	Specific	  	Harrah’s
AC
(formerly
Showboat)	 	 	85/014470	 	  	 	4/15/2010	 	  	 	3878307	 	  	 	11/16/2010	 	  	 	Registered	 
	Peek (Block)	  	United
States of
America	  	Harrah’s	  	Specific	  	Harrah’s
Lake
Tahoe	 	 	86/263094	 	  	 	4/25/2014	 	  	 	4625059	 	  	 	10/21/2014	 	  	 	Registered	 
	Powerhouse Alley	  	United
States of
America	  	Harrah’s	  	Specific	  	Harrah’s
Reno	 	 	86/174730	 	  	 	1/24/2014	 	  	 	4575993	 	  	 	7/29/2014	 	  	 	Registered	 
	The Summit (Block)	  	United
States of
America	  	Harrah’s	  	Specific	  	Harrah’s
Lake
Tahoe	 	 	73/040279	 	  	 	12/23/1974	 	  	 	1019015	 	  	 	8/26/1975	 	  	 	Registered	 
	“Louisiana Downs”	  	Louisiana	  	Harrah’s/
Louisiana
Downs	  	Specific	  	Harrah’s
Louisiana
Downs	 	 	NA	 	  	 	4/19/1993	 	  	 	NA	 	  	 	4/19/1993	 	  	 	Registered	 

  
 G-3 

																											
	 Mark
	  	Jurisdiction	  	Brand	  	Specific/
Enterprise	  	Property	  	App. No.	 	  	App. Date	 	  	Reg. No.	 	  	Reg. Date	 	  	Status
	Fillies & Fighters (Design)	  	Louisiana	  	Harrah’s/
Louisiana
Downs	  	Specific	  	Harrah’s
Louisiana
Downs	  	 	NA	 	  	 	7/16/2009	 	  	 	60-7294	 	  	 	7/16/2009	 	  	Registered
	Horse Cents (Block)	  	Louisiana	  	Harrah’s/
Louisiana
Downs	  	Specific	  	Harrah’s
Louisiana
Downs	  	 	NA	 	  	 	12/4/2003	 	  	 	58-0417	 	  	 	12/4/2003	 	  	Registered
	Super Derby	  	Louisiana	  	Harrah’s/
Louisiana
Downs	  	Specific	  	Harrah’s
Louisiana
Downs	  	 	NA	 	  	 	4/19/1993	 	  	 	NA	 	  	 	4/19/1993	 	  	Registered
	Louisiana Downs (Block)	  	United
States of
America	  	Harrah’s/
Louisiana
Downs	  	Specific	  	Harrah’s
Louisiana
Downs	  	 	78/197284	 	  	 	12/23/2002	 	  	 	2874317	 	  	 	8/17/2004	 	  	Registered
	Louisiana Downs Racing Horses (Design)	  	United
States of
America	  	Harrah’s/
Louisiana
Downs	  	Specific	  	Harrah’s
Louisiana
Downs	  	 	78/199756	 	  	 	1/3/2003	 	  	 	2791383	 	  	 	12/9/2003	 	  	Registered
	Super Derby (Block)	  	United
States of
America	  	Harrah’s/
Louisiana
Downs	  	Specific	  	Harrah’s
Louisiana
Downs	  	 	78/199798	 	  	 	1/3/2003	 	  	 	2788933	 	  	 	12/2/2003	 	  	Registered
	Sage Room (Block)	  	Nevada	  	Harveys	  	Specific	  	Harveys
Lake
Tahoe	  	 	E0411842011-4	 	  	 	7/18/2011	 	  	 	E0411842011-4	 	  	 	7/18/2011	 	  	Registered
	Sushi Kai	  	Nevada	  	Harveys	  	Specific	  	Harveys
Lake
Tahoe	  	 	20140728667-83	 	  	 	10/23/2014	 	  	 	20140728667-83	 	  	 	10/23/2014	 	  	Registered
	Harveys (Block)	  	United
States of
America	  	Harveys	  	Specific	  	Harveys
Lake
Tahoe	  	 	74/483631	 	  	 	1/28/1994	 	  	 	2026250	 	  	 	12/31/1996	 	  	Registered
	Harveys (Design)	  	United
States of
America	  	Harveys	  	Specific	  	Harveys
Lake
Tahoe	  	 	74/483632	 	  	 	1/28/1994	 	  	 	2038045	 	  	 	2/18/1997	 	  	Registered
	Harveys (Stylized)	  	United
States of
America	  	Harveys	  	Specific	  	Harveys
Lake
Tahoe	  	 	78/821394	 	  	 	2/23/2006	 	  	 	3154177	 	  	 	10/10/2006	 	  	Registered

  
 G-4 

																													
	 Mark
	  	Jurisdiction	  	Brand	  	Specific/
Enterprise	  	Property	  	App. No.	 	  	App. Date	 	  	Reg. No.	 	  	Reg. Date	 	  	Status	 
	Harveys Casino Hotel You Can Have it All	  	United
States of
America	  	Harveys	  	Specific	  	Harveys
Lake
Tahoe	  	 	75/295646	 	  	 	5/21/1997	 	  	 	2240209	 	  	 	4/20/1999	 	  	 	Registered	 
	The Party’s at Harveys (Block)	  	United
States of
America	  	Harveys	  	Specific	  	Harveys
Lake
Tahoe	  	 	74/484989	 	  	 	1/28/1994	 	  	 	1878054	 	  	 	2/7/1995	 	  	 	Registered	 
	Envy Stage Bar	  	Indiana	  	Horseshoe	  	Specific	  	Horseshoe
Southern
Ind.	  	 	2008-0359	 	  	 	5/14/2008	 	  	 	2008-0359	 	  	 	5/14/2008	 	  	 	Registered	 
	Midwest Regional Poker Championships	  	Indiana	  	Horseshoe	  	Specific	  	Horseshoe
Southern
Ind.	  	 	N/A	 	  	 	6/1/2016	 	  	 	2016-0311	 	  	 	7/1/2016	 	  	 	Registered	 
	The Venue (logo)	  	Indiana	  	Horseshoe	  	Specific	  	Horseshoe
Southern
Ind.	  	 	2009-0045	 	  	 	1/21/2009	 	  	 	2009-0045	 	  	 	1/21/2009	 	  	 	Registered	 
	Best Blackjack in Louisiana (Block)	  	Louisiana	  	Horseshoe	  	Specific	  	Horseshoe
Bossier
City	  	 	NA	 	  	 	12/30/1996	 	  	 	NA	 	  	 	12/30/1996	 	  	 	Registered	 
	Frozen SeRum	  	Louisiana	  	Horseshoe	  	Specific	  	Horseshoe
Bossier
City	  	 	NA	 	  	 	1/30/200	 	  	 	NA	 	  	 	4/30/2001	 	  	 	Registered	 
	Impulse, Inc.	  	Louisiana	  	Horseshoe	  	Specific	  	Horseshoe
Bossier
City	  	 	NA	 	  	 	4/30/2001	 	  	 	NA	 	  	 	4/30/2001	 	  	 	Registered	 
	Benny’s Back Room	  	United
States of
America	  	Horseshoe	  	Specific	  	Horseshoe
Hammond	  	 	77/547938	 	  	 	8/15/2008	 	  	 	3678700	 	  	 	9/8/2009	 	  	 	Registered	 
	Bluesville (Block)	  	United
States of
America	  	Horseshoe	  	Specific	  	Horseshoe
Tunica	  	 	77/234865	 	  	 	7/20/2007	 	  	 	3456911	 	  	 	7/1/2008	 	  	 	Registered	 
	Bluesville (Logo)	  	United
States of
America	  	Horseshoe	  	Specific	  	Horseshoe
Tunica	  	 	77/523188	 	  	 	7/16/2008	 	  	 	3554133	 	  	 	12/30/2008	 	  	 	Registered	 
	Bluesville (Logo)	  	United
States of
America	  	Horseshoe	  	Specific	  	Horseshoe
Tunica	  	 	75/182186	 	  	 	10/15/1996	 	  	 	2148837	 	  	 	4/7/1998	 	  	 	Registered	 

  
 G-5 

																													
	 Mark
	  	Jurisdiction	  	Brand	  	Specific/
Enterprise	  	Property	  	App. No.	 	  	App. Date	 	  	Reg. No.	 	  	Reg. Date	 	  	Status	 
	Dare	  	United
States of
America	  	Horseshoe	  	Specific	  	Horseshoe
Bossier
City	  	 	86163460	 	  	 	1/13/2014	 	  	 	4615290	 	  	 	9/30/2014	 	  	 	Registered	 
	Four Winds (Block)	  	United
States of
America	  	Horseshoe	  	Specific	  	Horseshoe
Bossier
City	  	 	76/464872	 	  	 	11/6/2002	 	  	 	2829389	 	  	 	4/6/2004	 	  	 	Registered	 
	Four Winds (Design)	  	United
States of
America	  	Horseshoe	  	Specific	  	Horseshoe
Bossier
City	  	 	76/464866	 	  	 	11/6/2002	 	  	 	2829388	 	  	 	4/6/2004	 	  	 	Registered	 
	Push	  	United
States of
America	  	Horseshoe	  	Specific	  	Horseshoe
Hammond	  	 	77/475098	 	  	 	5/15/2008	 	  	 	3592854	 	  	 	3/17/2009	 	  	 	Registered	 
	The Venue (logo)	  	United
States of
America	  	Horseshoe	  	Specific	  	Horseshoe
Hammond	  	 	77/470223	 	  	 	5/9/2008	 	  	 	4709708	 	  	 	3/24/2015	 	  	 	Registered	 
	Village Square (Block)	  	United
States of
America	  	Horseshoe	  	Specific	  	Horseshoe
Tunica	  	 	75/366182	 	  	 	10/1/1997	 	  	 	2221012	 	  	 	1/26/1999	 	  	 	Registered	 
	Where Entertainment Knows No Bounds	  	United
States of
America	  	Horseshoe	  	Specific	  	Horseshoe
Hammond	  	 	77/521309	 	  	 	7/14/2008	 	  	 	3550200	 	  	 	12/23/2008	 	  	 	Registered	 
	Get More Bang for your Buck Guaranteed!	  	United
States of
America	  	Tunica
Roadhouse	  	Specific	  	Tunica
Roadhouse	  	 	77/028361	 	  	 	10/24/2006	 	  	 	3460107	 	  	 	7/8/2008	 	  	 	Registered	 
	Tunica Roadhouse Casino & Hotel (Design)	  	United
States of
America	  	Tunica
Roadhouse	  	Specific	  	Tunica
Roadhouse	  	 	77/802032	 	  	 	8/11/2009	 	  	 	3794897	 	  	 	5/25/2010	 	  	 	Registered	 
	Tunica Roadhouse Casino & Hotel (Design)	  	United
States of
America	  	Tunica
Roadhouse	  	Specific	  	Tunica
Roadhouse	  	 	77/802035	 	  	 	8/11/2009	 	  	 	3797493	 	  	 	6/1/2010	 	  	 	Registered	 

  
 G-6 

							
	 Domain Name
	  	Brand	  	Reg. Date	  	Registry Expiry Date
				
	 bluffsdogs.com
	  	Bluffs Run	  	1997-12-30	  	2017-12-29
				
	 bluffsrun.com
	  	Bluffs Run	  	1995-12-04	  	2017-12-03
				
	 stircove.com
	  	Harrah’s Council Bluffs	  	2005-05-05	  	2019-05-05
				
	 stircove.com
	  	Harrah’s Council Bluffs	  	2005-05-05	  	2019-05-05
				
	 stirliveandloud.com
	  	Harrah’s Council Bluffs	  	2010-03-24	  	2019-03-24
				
	 stirliveandloud.com
	  	Harrah’s Council Bluffs	  	2010-03-24	  	2019-03-24
				
	 stirnightclub.com
	  	Harrah’s Council Bluffs	  	2006-08-16	  	2019-08-16
				
	 stirnightclub.com
	  	Harrah’s Council Bluffs	  	2006-08-16	  	2019-08-16
				
	 magnoliahousebiloxi.com
	  	Harrah’s Gulf Coast	  	2014-04-01	  	2018-04-01
				
	 altitudetahoe.com
	  	Harrah’s Lake Tahoe	  	2003-05-06	  	2019-05-06
				
	 e-harveys.com
	  	Harveys	  	2007-01-30	  	2018-01-30
				
	 experienceharveys.com
	  	Harveys	  	2008-02-13	  	2018-02-13
				
	 experienceharveystahoe.com
	  	Harveys	  	2008-02-13	  	2018-02-13
				
	 harveys.casino
	  	Harveys	  	2015-05-26	  	2019-05-26
				
	 harveys.cn
	  	Harveys	  	2003-03-16	  	2018-03-16
				
	 harveys.com
	  	Harveys	  	1995-05-04	  	2019-05-05
				
	 meetingsatharveys.com
	  	Harveys	  	2001-04-11	  	2019-04-11

  
 G-7 

							
	 Domain Name
	  	Brand	  	Reg. Date	  	Registry Expiry Date
				
	 macauofchicago.com
	  	Horseshoe	  	2014-07-20	  	2018-07-20
				
	 bluesvilletunica.com
	  	Horseshoe Tunica	  	2007-02-22	  	2018-02-22
				
	 macauofchicago.com
	  	Horseshoe Hammond	  	2014-07-20	  	2018-07-20
				
	 thevenuechicago.com
	  	Horseshoe Hammond	  	2007-10-02	  	2019-10-02
				
	 thevenue-chicago.com
	  	Horseshoe Hammond	  	2008-04-18	  	2019-04-18
				
	 thevenuechicagopride.com
	  	Horseshoe Hammond	  	2008-06-19	  	2019-06-19
				
	 magnoliahousebiloxi.com
	  	Harrah’s Gulf Coast	  	2014-04-01	  	2018-04-01
				
	 laketahoenightlife.com
	  	Harrah’s Lake Tahoe	  	2004-10-25	  	2017-10-25
				
	 laketahoenights.com
	  	Harrah’s Lake Tahoe	  	2004-10-25	  	2017-10-25
				
	 laketahoenightscene.com
	  	Harrah’s Lake Tahoe	  	2004-10-25	  	2017-10-25
				
	 laketahoesbigchill.com
	  	Harrah’s Lake Tahoe	  	2005-05-31	  	2019-05-31
				
	 ltfoodandwine.com
	  	Harrah’s Lake Tahoe	  	2010-06-17	  	2019-06-17
				
	 ltsnowblast.com
	  	Harrah’s Lake Tahoe	  	2010-10-19	  	2017-10-19
				
	 tahoeparty.com
	  	Harrah’s Lake Tahoe	  	2005-09-07	  	2019-09-07
				
	 tahoestar.com
	  	Harrah’s Lake Tahoe	  	1999-01-15	  	2018-01-15
				
	 renonumbers.com
	  	Harrah’s Reno	  	2001-05-18	  	2019-05-18
				
	 renoweddingchapel.com
	  	Harrah’s Reno	  	2000-01-19	  	2018-01-19

  
 G-8 

							
	 Domain Name
	  	Brand	  	Reg. Date	  	Registry Expiry Date
				
	 tahoesummitsuites.com
	  	Harrah’s Lake Tahoe	  	2008-03-13	  	2019-03-13
				
	 southshoreroom.com
	  	Harrah’s Lake Tahoe	  	2008-01-29	  	2018-01-29
				
	 tunicanightclub.com
	  	Horseshoe Tunica	  	2009-08-19	  	2019-08-19
				
	 ladowns.com
	  	Louisiana Downs	  	1995-07-24	  	2019-07-23
				
	 louisianadown.com
	  	Louisiana Downs	  	2003-01-28	  	2018-01-28

  
 G-9 

 SCHEDULE A 

LANDLORD ENTITIES 
 Horseshoe
Council Bluffs LLC 
 Harrah’s Council Bluffs LLC 

Harrah’s Metropolis LLC 
 Horseshoe Southern Indiana LLC 

New Horseshoe Hammond LLC 
 Horseshoe Bossier City Prop LLC 

Harrah’s Bossier City LLC 
 New Harrah’s North Kansas
City LLC 
 Grand Biloxi LLC 
 Horseshoe Tunica LLC 

New Tunica Roadhouse LLC 
 Caesars Atlantic City LLC 

Bally’s Atlantic City LLC 
 Harrah’s Lake Tahoe LLC 

Harvey’s Lake Tahoe LLC 
 Harrah’s Reno LLC 

Bluegrass Downs Property Owner LLC 
 Vegas Development LLC 

Vegas Operating Property LLC 
 Miscellaneous Land LLC 

Propco Gulfport LLC 

  
 Schedule A-1 

 SCHEDULE B 

TENANT ENTITIES 
 CEOC, LLC,
successor in interest by merger to Caesars Entertainment Operating Company, Inc. 
 Caesars Entertainment Operating Company, Inc. 

HBR Realty Company LLC 
 Harveys Iowa Management Company LLC 

Southern Illinois Riverboat/Casino Cruises LLC 
 Caesars Riverboat
Casino, LLC 
 Roman Holding Company of Indiana LLC 
 Horseshoe
Hammond, LLC 
 Horseshoe Entertainment 
 Harrah’s Bossier
City Investment Company, L.L.C. 
 Harrah’s North Kansas City LLC 

Grand Casinos of Biloxi, LLC 
 Robinson Property Group LLC 

Tunica Roadhouse LLC 
 Boardwalk Regency LLC 

Caesars New Jersey LLC 
 Bally’s Park Place LLC 

Harveys Tahoe Management Company LLC 
 Reno Projects LLC 

Players Bluegrass Downs LLC 
 Hole in the Wall, LLC 

Casino Computer Programming, Inc. 
 Harveys BR Management Company,
Inc. 

  
 Schedule B-1

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