Document:

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                          KSL RECREATION GROUP, INC.
                              55-880 PGA Boulevard
                           La Quinta, California 92253

                                                        Dated as of May 4, 2000

To the Lenders parties to the Credit Agreement hereinafter referred to:

      Re:  First Amendment
      --------------------

Ladies and Gentlemen:

      Reference is made to the Amended and Restated Credit  Agreement,  dated as
of April 9, 1998 (as amended or otherwise modified prior to the date hereof, the
"Existing  Credit  Agreement"),  among KSL  Recreation  Group,  Inc., a Delaware
corporation (the "Borrower"),  the various financial  institutions as are or may
become parties  thereto  (collectively,  the  "Lenders",  and,  individually,  a
"Lender"),   Donaldson,   Lufkin  &  Jenrette  Securities   Corporation,   as  a
Co-Syndication Agent and as the Documentation Agent, the Bank of Nova Scotia, as
a  Co-Syndication  Agent  and  as  the  Administrative  Agent,  and  BancAmerica
Securities,  Inc., as the Syndication  Agent.  Unless otherwise  defined in this
first amendment to the Credit Agreement (this  "Amendment" and together with the
Existing Credit Agreement,  the "Credit Agreement"),  terms used herein have the
meaning provided in the Credit Agreement.

SECTION 1. AMENDMENT.  We hereby request that the Lenders amend clause (d) of
           ---------
           Section 7.2.6 of the Existing Credit in its entirety to read as
           follows:

                (d)  repurchase  shares  of its  Capital  Stock  (together  with
           options or warrants in respect of any thereof)  and pay  dividends to
           KSL in amounts  necessary to permit KSL to repurchase shares of KSL's
           Capital  Stock  (together  with options or warrants in respect of any
           thereof)  held by the  officers,  directors and employees of KSL, the
           Borrower or any of their  respective  Subsidiaries or Affiliates,  so
           long as such  repurchase is pursuant to, and in  accordance  with the
           terms of, management and/or employee stock plans,  stock subscription
           agreements or shareholder agreements;

SECTION    2. CONDITIONS TO EFFECTIVENESS. This Amendment shall become effective
           as of the date  first  above  written  (the  "Effective  Date")  upon
           receipt by the Administrative  Agent (or its counsel) of counterparts
           of this  Amendment  duly  executed by the  Borrower  and the Required
           Lenders.

B.         Representations and Warranties.  The Borrower hereby represents and
           ------------------------------
           warrants that both before and after giving effect to this
           Amendment, (a) the representations and warranties act forth in
           Article VI of the Existing Credit Agreement and in each other Loan
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           Document are, in each case, be true and correct in all material
           respects with the same effect as if then made (unless stated to
           relate solely to an earlier date, in which case such
           representations and warranties were true and correct in all
           material respects as of such earlier date) and (b) no Default has
           occurred and is continuing.

C.         Miscellaneous.  Except as expressly modified hereby, the Existing
           -------------
           Credit Agreement shall remain unmodified and shall be in full force
           and effect in accordance with its terms, and this Amendment shall be
           limited to the express provisions modified hereby and to this
           occasion alone.  No modification by the Administrative Agent or by
           any Lender hereunder shall be applicable to subsequent
           transactions.  No modification hereunder shall require any similar
           or dissimilar modification hereafter to be granted.  This Amendment
           may be executed by facsimile in separate counterparts, each of
           which shall be deemed to be an original and all of which shall
           constitute together but one and the same Amendment and shall be
           governed by the internal laws of the State of New York.

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SECTION    4. GRANT OF MODIFICATIONS.  If the foregoing constitutes an agreement
           among us, and you are  agreeable to granting the  amendment  provided
           for herein on the terms set forth herein,  kindly sign a copy of this
           Amendment in the location set forth below.

                               KSL RECREATION GROUP, INC.

                               By:     /s/ John K. Saer, Jr.
                                    --------------------------
                               Title: Chief Financial Officer

ACKOWLEDGED, AGREED & ACCEPTED:

     The Bank of Nova Scotia
     ----------------------------------------

     DLJ Capital Funding, Inc.
     ----------------------------------------

     Bank Leumi USA
     ----------------------------------------

     Bank of America, N.A.
     ----------------------------------------

     Fleet National Bank
     ----------------------------------------

     Banque National de Paris
     ----------------------------------------

     The Chase Manhattan Bank
     ----------------------------------------

     Citicorp USA, Inc.
     ----------------------------------------

     Credit Suisse First Boston
     ----------------------------------------

     Bankers Trust Company
     ----------------------------------------

     ARCHIMEDES FUNDING III, LTD.
     By: ING Capital Advisors LLC,
         as Collateral Manager
     ----------------------------------------

     ING HIGH INCOME PRINCIPAL
     PRESERVATION FUND HOLDINGS, LDC.,
     By: ING Capital Advisors LLC
         As Investment Advisor
     ----------------------------------------

     AERIES FINANCE-II LIMITED
     By: INVESCO Senior Secured Management,
         Inc., as Sub-Managing Agent
     ----------------------------------------

     CERES FINANCE LTD.
     By: INVESCO Senior Secured Management,
         Inc., as Sub-Managing Agent
     ----------------------------------------

     FLOATING RATE PORTFOLIO
     By: INVESCO Senior Secured Management,
         Inc., as attorney in fact
     ----------------------------------------

     Stanfield CLO Ltd.
     By: Stanfield Capital Partners LLC
         As its Collateral Manager
     ----------------------------------------

     Union Bank of California, N.A.
     ----------------------------------------
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     VAN KAMPEN
     PRIME REATE INCOME TRUST
     By: Van Kampen Investment Advisory Corp.
     ----------------------------------------

     VAN KAMPEN C:P I, LIMITED
     By: VAN KAMPEN MANAGEMENT INC.,
         As Collateral Manager
     ----------------------------------------

     Wells Fargo Bank, N.A.
     ----------------------------------------<PAGE>

                                                                     Exhibit 4.3
                                                                     -----------

                           CERTIFICATE OF DESIGNATIONS
                                       OF
                  SERIES A JUNIOR PARTICIPATING PREFERRED STOCK
                                       OF
                               eFUNDS CORPORATION

                  The undersigned hereby certifies that the Board of Directors
of eFunds Corporation (the "Corporation"), a corporation organized and existing
under the Delaware General Corporation Law, duly adopted the following
resolution on April 1, 2000:

                  "RESOLVED, that a series of preferred stock of the Company is
hereby created, and the designation and amount thereof and the relative rights
and preferences of the shares of such series, are as set forth in Exhibit E
appended hereto, and the proper officers of the Company are hereby authorized
and directed to complete all appropriate blanks in Exhibit E and to file the
same with the Delaware Secretary of State."

                  The undersigned further certifies that the following is a true
and correct copy of the aforementioned Exhibit E, with the blanks referenced in
the resolution of the Board filled in by the proper officers of the Company in
accordance with the authority granted by the Board:

                  Section 1. Designation and Amount. The shares of such series
shall be designated as "Series A Junior Participating Preferred Stock" (the
"Preferred Shares") and the number of shares constituting the Preferred Shares
shall be 2,500,000. Such number of shares may be increased or decreased by
resolution of the Board of Directors and any necessary stockholder approval;
provided, however, that no decrease shall reduce the number of shares of
Preferred Shares to a number less than the number of shares then outstanding
plus the number of shares reserved for issuance upon the exercise of outstanding
options, rights or warrants or upon the conversion of any outstanding securities
issued by the Corporation convertible into Preferred Shares.

                  Section 2.  Dividends and Distributions.
                              ---------------------------

                  (a) Subject to the rights of the holders of any shares of any
series of preferred stock (or any similar stock) ranking prior and superior to
the Preferred Shares with respect to dividends, the holders of Preferred Shares,
in preference to the holders of Common Stock, par value $.01 (the "Common
Stock"), of the Corporation, and of any other junior stock, shall be entitled to
receive, when, as and if declared by the Board of Directors out of funds legally
available for the purpose, quarterly dividends payable in cash on the first day
of March, June, September and December in each year (each such date being
referred to herein as a "Quarterly Dividend Payment Date"), commencing on the
first Quarterly Dividend Payment Date after the first issuance of a share or
fraction of a share of Preferred Shares (the date of such issuance being
hereinafter referred to as the "Issue Date"), in an amount per share (rounded to
the nearest cent) equal to the greater of (i) $0.001 or (ii) subject to the
provision for adjustment hereinafter set forth, 100 times the aggregate per
share amount of all cash dividends, and 100 times the aggregate per share amount
(payable in kind) of all non-cash dividends or other distributions, other than a
dividend payable in shares of Common Stock or a subdivision of the outstanding
shares of Common Stock (by reclassification or otherwise), declared on the
Common Stock since the immediately preceding Quarterly Dividend Payment Date or,
with respect to the first Quarterly Dividend Payment Date, since the first
issuance of any share or fraction of a share of Preferred Shares. In the event
the Corporation shall at any time after the business day prior to the Company's
initial public offering ("Record Date"), declare or pay any dividend on the
Common Stock payable in shares of Common Stock, or effect a subdivision or
combination or consolidation of the outstanding shares of Common Stock (by
reclassification or otherwise) into a greater or lesser number of shares of
Common Stock, then in each such case the amount to which holders of shares of
Preferred Shares were entitled immediately prior to such event under clause (ii)
of the preceding sentence shall be adjusted by multiplying such amount by a
fraction, the numerator of which is the number of shares of Common Stock
outstanding immediately after such event and the denominator of which is the
number of shares of Common Stock that were outstanding immediately prior to such
event.

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                  (b) From and after the Issue Date, the Corporation shall
declare a dividend or distribution on the Preferred Shares as provided in
paragraph (a) of this Section immediately after it declares a dividend or
distribution on the Common Stock (other than a dividend payable in shares of
Common Stock or a subdivision of the outstanding Common Stock); provided that,
from and after the Issue Date, in the event no dividend or distribution shall
have been declared on the Common Stock during the period between any Quarterly
Dividend Payment Date and the next subsequent Quarterly Dividend Payment Date, a
dividend of $0.001 per share on the Preferred Shares shall nevertheless be
payable, out of funds legally available for such purpose, on such subsequent
Quarterly Dividend Payment Date.

                  (c) Dividends shall begin to accrue and be cumulative on
outstanding shares of Preferred Shares from their date of issue. Accrued but
unpaid dividends shall not bear interest. Dividends paid on the shares of
Preferred Shares in an amount less than the total amount of such dividends at
the time accrued and payable on such shares shall be allocated pro rata on a
share-by-share basis among all such shares at the time outstanding. The Board of
Directors may fix a record date for the determination of holders of Preferred
Shares entitled to receive payment of a dividend or distribution declared
thereon, which record date shall be not more than 60 days prior to the date
fixed for the payment thereof.

                  Section 3.  Voting Rights.
                              -------------

                  (a) Subject to the provision for adjustment hereinafter set
forth, each Preferred Share shall entitle the holder thereof to 100 votes on all
matters submitted to a vote of the stockholders of the Corporation. In the event
the Corporation shall at any time after the Record Date, declare or pay any
dividend on the Common Stock payable in shares of Common Stock, or effect a
subdivision or combination or consolidation of the outstanding shares of Common
Stock (by reclassification or otherwise) into a greater or lesser number of
shares of Common Stock, then in each such case the number of votes per share to
which holders of shares of Preferred Shares were entitled immediately prior to
such event shall be adjusted by multiplying such number by a fraction, the
numerator of which is the number of shares of Common Stock outstanding
immediately after such event and the denominator of which is the number of
shares of Common Stock that were outstanding immediately prior to such event.

                  (b) Except as otherwise provided herein or by law, the holders
of Preferred Shares and the holders of Common Stock and any other capital stock
of the Corporation having general voting rights shall vote together as one class
on all matters submitted to a vote of stockholders of the Corporation.

                  (c) Except as set forth herein or required by law, holders of
Preferred Shares shall have no special voting rights and their consent shall not
be required (except to the extent they are entitled to vote with holders of
Common Stock as set forth herein) for taking any corporate action.

                  Section 4.  Certain Restrictions.
                              --------------------

                  (a) Whenever quarterly dividends or other dividends or
distributions payable on the Preferred Shares as provided in Section 2 are in
arrears, thereafter and until all accrued and unpaid dividends and
distributions, whether or not declared, on shares of Preferred Shares
outstanding shall have been paid in full, the Corporation shall not:

                           (i) declare or pay dividends, or make any other
                  distributions, on any shares of stock ranking junior (either
                  as to dividends or upon liquidation, dissolution or winding
                  up) to the Preferred Shares;

                           (ii) declare or pay dividends, or make any other
                  distributions, on any shares of stock ranking on a parity
                  (either as to dividends or upon liquidation, dissolution or
                  winding up) with the Preferred Shares, except dividends paid
                  ratably on the Preferred Shares and all such parity stock on
                  which dividends are payable or in arrears in proportion to the
                  total amounts to which the holders of all such shares are then
                  entitled;

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<PAGE>

                           (iii) redeem or purchase or otherwise acquire for
                  consideration shares of any stock ranking junior (either as to
                  dividends or upon liquidation, dissolution or winding up) to
                  the Preferred Shares; provided, however, that the Corporation
                  may at any time redeem, purchase or otherwise acquire shares
                  of any such junior stock in exchange for shares of any stock
                  of the Corporation ranking junior (either as to dividends or
                  upon dissolution, liquidation or winding up) to the Preferred
                  Shares; or

                           (iv) redeem or purchase or otherwise acquire for
                  consideration any Preferred Shares, or any stock ranking on a
                  parity with the Preferred Shares, except in accordance with a
                  purchase offer made in writing or by publication (as
                  determined by the Board of Directors) to all holders of such
                  shares upon such terms as the Board of Directors, after
                  consideration of the respective annual dividend rates and
                  other relative rights and preferences of the respective series
                  and classes, shall determine in good faith will result in fair
                  and equitable treatment among the respective series or
                  classes.

(b)  The Corporation shall not permit any subsidiary of the Corporation to
     purchase or otherwise acquire for consideration any shares of stock of the
     Corporation unless the Corporation could, under paragraph (a) of this
     Section 4, purchase or otherwise acquire such shares at such time and in
     such manner.

                  Section 5. Reacquired Shares. Any Preferred Shares purchased
or otherwise acquired by the Corporation in any manner whatsoever shall be
retired and canceled promptly after the acquisition thereof. All such shares
shall upon their cancellation become authorized but unissued shares of preferred
stock and may be reissued as part of a new series of preferred stock subject to
the conditions and restrictions on issuance set forth herein, in the Certificate
of Incorporation, or in any other certificate of designation creating a series
of preferred stock or any similar stock or as otherwise required by law.

                  Section 6. Liquidation, Dissolution or Winding Up. Upon any
liquidation, dissolution or winding up of the Corporation, no distribution shall
be made (1) to the holders of shares of stock ranking junior (either as to
dividends or upon liquidation, dissolution or winding up) to the Preferred
Shares unless, prior thereto, the holders of Preferred Shares shall have
received the greater of (i) $0.01 per share, plus an amount equal to accrued and
unpaid dividends and distributions thereon, whether or not declared, to the date
of such payment, or (ii) an aggregate amount per share, subject to the provision
for adjustment hereinafter set forth, equal to 100 times the aggregate amount to
be distributed per share to holders of Common Stock, or (2) to the holders of
stock ranking on a parity (either as to dividends or upon liquidation,
dissolution or winding up) with the Preferred Shares, except distributions made
ratably on the Preferred Shares and all such parity stock in proportion to the
total amounts to which the holders of all such shares are entitled upon such
liquidation, dissolution or winding up. In the event the Corporation shall at
any time after the Record Date declare or pay any dividend on the Common Stock
payable in shares of Common Stock, or effect a subdivision or combination or
consolidation of the outstanding shares of Common Stock (by reclassification or
otherwise) into a greater or lesser number of shares of Common Stock, then in
each such case the aggregate amount to which holders of shares of Preferred
Shares were entitled immediately prior to such event under clause (1)(ii) of the
preceding sentence shall be adjusted by multiplying such amount by a fraction
the numerator of which is the number of shares of Common Stock outstanding
immediately after such event and the denominator of which is the number of
shares of Common Stock that were outstanding immediately prior to such event.

                  Section 7. Consolidation, Merger, etc. In case the Corporation
shall enter into any consolidation, merger, combination or other transaction in
which the shares of Common Stock are exchanged for or changed into other stock
or securities, cash and/or any other property, then in any such case each share
of Preferred Shares shall at the same time be similarly exchanged or changed
into an amount per share, subject to the provision for adjustment hereinafter
set forth, equal to 100 times the aggregate amount of stock, securities, cash
and/or any other property (payable in kind), as the case may be, into which or
for which each share of Common Stock is changed or exchanged. In the event the
Corporation shall at any time after the Record Date declare or pay any dividend
on the Common Stock payable in shares of Common Stock, or effect a subdivision
or combination or consolidation of the outstanding shares of Common Stock (by
reclassification or otherwise) into a greater or lesser number of shares of

                                       3
<PAGE>

Common Stock, then in each such case the amount set forth in the preceding
sentence with respect to the exchange or change of shares of Preferred Shares
shall be adjusted by multiplying such amount by a fraction, the numerator of
which is the number of shares of Common Stock outstanding immediately after such
event and the denominator of which is the number of shares of Common Stock that
were outstanding immediately prior to such event.

                  Section 8. No Redemption. The Preferred Shares shall not be
redeemable.

                  Section 9. Rank. The Preferred Shares shall rank, with respect
to the payment of dividends and the distribution of assets, junior to any other
class of the Corporation's Preferred Stock.

                  Section 10. Fractional Shares. Preferred Shares may be issued
in fractions of a share which are integral multiples of one one-hundredth of a
share which shall entitle the holder, in proportion to such holder's fractional
shares, to receive dividends, participate in distributions and to have the
benefit of all other rights of holders of Preferred Shares.

                  Section 11. Amendment. The Certificate of Incorporation of the
Corporation shall not be amended in any manner which would materially alter or
change the powers, preferences or rights of the Preferred Shares so as to affect
them adversely without the affirmative vote of the holders of at least
two-thirds of the outstanding shares of Preferred Shares, voting together as a
single class.

                  IN WITNESS WHEREOF, I have subscribed my name this 5th day of
July, 2000.

                               eFUNDS CORPORATION

                               By:  /s/ Steven F. Coleman
                               Steven F. Coleman
                               Secretary

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