Document:

pledgesupplement.htm

 

 

EXHIBIT 4.15

 

PLEDGE SUPPLEMENT

This PLEDGE SUPPLEMENT, dated as of January 31, 2011 (this “Pledge Supplement”), is delivered by KANSAS STAR CASINO, LLC, a Kansas limited liability company (the “Grantor”), pursuant to the Pledge and Security Agreement, dated as of August 6, 2009 (as amended, restated, supplemented or otherwise modified from time to time, the “Security Agreement”), among DIAMOND JO, LLC, a Delaware limited liability company, DIAMOND JO WORTH, LLC, a Delaware limited liability company, PENINSULA GAMING, LLC, a Delaware limited liability company (“PGL”), PENINSULA GAMING CORP., a Delaware corporation (“PGC”), THE OLD EVANGELINE DOWNS, L.L.C., a Louisiana limited liability company, BELLE OF ORLEANS, L.L.C., a Louisiana limited liability company, the other Grantors from time to time party thereto and U.S. BANK NATIONAL ASSOCIATION, as Collateral Agent.  Capitalized terms used herein not otherwise defined herein shall have the meanings ascribed thereto in the Security Agreement.

WHEREAS, PGL and PGC, as co-issuers, the subsidiaries of PGL party thereto as guarantors (the “Guarantors”), and U.S. Bank National Association, as trustee, are parties to that certain Indenture, dated as of August 6, 2009 (as amended, restated, supplemented or otherwise modified from time to time, the “Indenture”), and, in connection with the Indenture, PGL, PGC and the Guarantors entered into the Security Agreement;

 

WHEREAS, the Indenture requires the Grantor to become a party to the Security Agreement; and

 

WHEREAS, the Grantor has agreed to execute and deliver this Pledge Supplement in order to become a party to the Security Agreement.

 

NOW, THEREFORE, IT IS AGREED THAT:

 

By executing and delivering this Pledge Agreement, the Grantor hereby (a) becomes a party to the Security Agreement as a Grantor thereunder with the same force and effect as if originally named therein as a Grantor and, without limiting the generality of the foregoing, hereby expressly assumes all obligations and liabilities of a Grantor thereunder and (b) confirms the grant to the Collateral Agent set forth in the Security Agreement of, and does hereby grant to the Collateral Agent, a security interest in and continuing lien on all of the Grantor’s right, title and interest in, to and under all Collateral to secure the Secured Obligations, in each case whether now or hereafter existing or in which the Grantor now has or hereafter acquires an interest and wherever the same may be located.  The Grantor represents and warrants that (i) each of the representations and warranties contained in Section 5 of the Security Agreement is true and correct on and as of the date hereof (after giving effect to this Pledge Supplement) as if made on and as of such date and (ii) the attached Supplements to Schedules accurately and completely set forth all additional information required to be provided pursuant to the Security Agreement and hereby agrees that such Supplements to Schedules shall constitute part of the Schedules to the Security Agreement.

 

THIS PLEDGE SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND ALL CLAIMS AND CONTROVERSIES ARISING OUT OF THE SUBJECT MATTER HEREOF WHETHER SOUNDING IN CONTRACT LAW, TORT LAW OR OTHERWISE SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PROVISIONS THAT WOULD RESULT IN THE APPLICATION OF ANY OTHER LAW (OTHER THAN ANY MANDATORY PROVISIONS OF THE UCC RELATING TO THE LAW GOVERNING PERFECTION AND THE EFFECT OF PERFECTION OF THE SECURITY INTEREST).

[Signature Page Follows]

	
NEWYORK 7982923 (2K)

	  	  

  

  

  

IN WITNESS WHEREOF, the Grantor has caused this Pledge Supplement to be duly executed and delivered by its duly authorized officer as of the date first written above.

 

	 	KANSAS STAR CASINO, LLC	 
	 	 	 	 
	
Date

	
By: 

	/s/ Natalie Schramm	 
	 	 	Name:  Natalie Schramm	 
	 	 	Title:    Chief Financial Officer	 
	 	 	 	 

	
NEWYORK 7982923 (2K)

	  	
Peninsula Gaming

Kansas Star Casino, LLC  - Pledge Supplement

| NY\1764938.2||

  

  

  

SUPPLEMENT TO SCHEDULE 5.1

TO PLEDGE AND SECURITY AGREEMENT

Additional Information:

GENERAL INFORMATION

(A) Full Legal Name, Type of Organization, Jurisdiction of Organization, Chief Executive Office/Sole Place of Business and Organizational Identification Number of the Grantor:

	
Full Legal

Name

	
Type of

Organization

	
Jurisdiction of

Organization

	
Chief Executive

Office/Sole Place of

Business (or

Residence if Grantor

is a Natural Person)

	
Organization

Identification

Number

	
Kansas Star Casino, LLC

	
Limited liability company

	
Kansas

	
600 Star Brewery Dr. Ste 110

Dubuque, IA 52001

	
6489132

(B)Other Names (including any Trade Name or Fictitious Business Name) under which the Grantor currently conducts business:

	
Full Legal Name

	
Trade Name

	
Kansas Star Casino, LLC

	
Kansas Star Casino

 

(C)      Changes in Name, Jurisdiction of Organization, Chief Executive Office or Sole Place of Business and Corporate Structure of the Grantor within past five years:  None.    

(D)Agreements pursuant to which the Grantor is bound as debtor within past five years:  None.

	
NEWYORK 7982923 (2K)

	  	  

  

  

  

SUPPLEMENT TO SCHEDULE 5.2

TO PLEDGE AND SECURITY AGREEMENT

COLLATERAL IDENTIFICATION

I.           INVESTMENT RELATED PROPERTY

(A) Pledged Debt:  None.

(B) Securities Accounts:

	
Grantor

	
Name and Address of

Securities Intermediary

	
Account Number

	
Account Name

	
Kansas Star Casino, LLC

	
Wells Fargo Brokerage Services, LLC

608 Second Avenue

Minneapolis, MN 55479

	
28730232

	
Securities Account

 

 (C) Deposit Accounts:

	
Grantor

	
Name and Address of

Depositary Bank

	
Account Number

	
Account Name

	
Kansas Star Casino, LLC

	
American Trust

P.O. Box 938

Dubuque, IA 52004

	
2435161639

	
Checking Account

	
Kansas Star Casino, LLC

	
American Trust

P.O. Box 938

Dubuque, IA 52004

	
2999360544

	
Money Market Account

(D) Commodity Contracts and Commodities Accounts:  None.

II.           INTELLECTUAL PROPERTY

(A) Copyrights:  None.

(B) Copyright Licenses:  None.

(C) Patents:  None.

(D) Patent Licenses:  None.

(E) Trademarks:  None.

(F) Trademark Licenses:  None.

(G) Trade Secret Licenses:  None.

  

  

  

III.           COMMERCIAL TORT CLAIMS

None. 

IV.           LETTER OF CREDIT RIGHTS

None.

	
V.

	
WAREHOUSEMAN, BAILEES AND OTHER THIRD PARTIES IN POSSESSION OF COLLATERAL

None.

  

VI.           TIMBER TO BE CUT

None.

VII.           JUDGMENTS

None.

	
NEWYORK 7982923 (2K)

	  	  

  

  

  

SUPPLEMENT TO SCHEDULE 5.4

TO PLEDGE AND SECURITY AGREEMENT

UCC FINANCING STATEMENTS

	
Grantor

	
Filing Jurisdiction

	
Kansas Star Casino, LLC

	
Kansas Secretary of State

	
NEWYORK 7982923 (2K)

	  	  

  

  

  

SUPPLEMENT TO SCHEDULE 5.5

TO PLEDGE AND SECURITY AGREEMENT

LOCATIONS OF EQUIPMENT AND INVENTORY

None.

	
NEWYORK 7982923 (2K)grantoracknowledge.htm

 

 

EXHIBIT 4.16

 

 

GRANTOR ACKNOWLEDGMENT

 

Reference is made to that certain Intercreditor Agreement, dated as of August 6, 2009 (as amended, restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), by and between WELLS FARGO FOOTHILL, INC., as Senior Lien Administrative Agent, and U.S. BANK NATIONAL ASSOCIATION, as Subordinated Lien Creditor Representative.  Capitalized terms used herein without definition shall have the meaning assigned thereto in the Intercreditor Agreement.

 

This Grantor Acknowledgment, dated as of January 31, 2011 (this “Grantor Acknowledgment”), is being delivered pursuant to Section 5.16 of the Intercreditor Agreement.

 

The undersigned, Kansas Star Casino, LLC, a Kansas limited liability company (the “Additional Grantor”), hereby acknowledges and agrees to all terms, conditions and other provisions of the Intercreditor Agreement as a Grantor thereunder, for all purposes thereof on the terms set forth therein, as fully as if the Additional Grantor had acknowledged and agreed to the terms, conditions and other provisions of the Intercreditor Agreement as of the date thereof.

 

This Grantor Acknowledgment may be executed in two or more counterparts, each of which shall constitute an original but all of which when taken together shall constitute one contract.

THIS GRANTOR ACKNOWLEDGMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

The provisions of Section 5 of the Intercreditor Agreement shall apply with like effect to this Grantor Acknowledgment.

(Signature pages follow)

 

	
NEWYORK 7982557 (2K)

	  	  

  

  

  

IN WITNESS WHEREOF, the Additional Grantor has caused this Grantor Acknowledgment to be duly executed by its authorized representative as of the day and year first above written.

 

	 	KANSAS STAR CASINO, LLC	 
	 	 	 	 
	
 

	
By: 

	/s/ Natalie Schramm	 
	 	 	Name: Natalie Schramm 	 
	 	 	Title:   Chief Financial Officer	 
	 	 	 	 

	
  

	
 

 

	
  

	
 

 

	
  

	
 

 

 

	
NEWYORK 7982557 (2K)

	  	
Peninsula Gaming

Kansas Star Casino, LLC  - Grantor Acknowledgment

  

  

  

 Each of the Senior Lien Administrative Agent and the Subordinated Lien Creditor Representative acknowledges receipt of this Grantor Acknowledgment and agrees to act as Senior Lien Administrative Agent and Subordinated Lien Creditor Representative, respectively, with respect to the Collateral pledged by the Additional Grantor, as of the day and year first above written.

 

	 	
WELLS FARGO FOOTHILL, INC., 

as the Senior Lien Administrative Agent

	 
	 	 	 	 
	
 

	
By: 

	/s/ Patrick McCormack	 
	 	 	Name:  Patrick McCormack	 
	 	 	Title:    Vice President	 
	 	 	 	 

 

	
NEWYORK 7982557 (2K)

	  	
Peninsula Gaming

Kansas Star Casino - Grantor Acknowledgment

  

  

  

	 	
U.S. BANK NATIONAL ASSOCIATION,

as the Subordinated Lien Creditor Representative

	 
	 	 	 	 
	
 

	
By: 

	/s/ Donald T. Hurrelbrink	 
	 	 	Name:  Donald T. Hurrelbrink	 
	 	 	Title:    Vice President	 
	 	 	 

	
  

	
          

 

 

 

 

	
NEWYORK 7982557 (2K)

	  	
Peninsula Gaming

Kansas Star Casino, LLC  - Grantor Acknowledgment

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