Document:

exv4w2

Exhibit 4.2

[CONFORMED COPY

WITH EXHIBITS G,H,J & L

CONFORMED AS EXECUTED]

 

 

CREDIT AGREEMENT

among

AMERISTAR CASINOS, INC.,

VARIOUS LENDERS,

WELLS FARGO BANK, NATIONAL ASSOCIATION, BANK OF AMERICA, N.A. and

JPMORGAN CHASE BANK, N.A.,

as SYNDICATION AGENTS,

DEUTSCHE BANK SECURITIES INC., WELLS FARGO SECURITIES, LLC, MERRILL

LYNCH, PIERCE, FENNER & SMITH INCORPORATED, and

J.P. MORGAN SECURITIES INC.,

as JOINT LEAD ARRANGERS and JOINT BOOKRUNNERS,

COMMERZBANK AG, NEW YORK AND GRAND CAYMAN BRANCHES and US BANK

NATIONAL ASSOCIATION,

as CO-DOCUMENTATION AGENTS,

and

DEUTSCHE BANK TRUST COMPANY AMERICAS,

as ADMINISTRATIVE AGENT

 

Dated as of April 14, 2011

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	SECTION 1.

	 	Definitions and Accounting Terms
	 	 	1	 
	 
	 	 	 	 	 	 
	1.01

	 	Defined Terms
	 	 	1	 
	 
	 	 	 	 	 	 
	SECTION 2.

	 	Amount and Terms of Credit
	 	 	38	 
	 
	 	 	 	 	 	 
	2.01

	 	The Commitments
	 	 	38	 
	2.02

	 	Minimum Amount of Each Borrowing
	 	 	40	 
	2.03

	 	Notice of Borrowing
	 	 	40	 
	2.04

	 	Disbursement of Funds
	 	 	41	 
	2.05

	 	Notes
	 	 	42	 
	2.06

	 	Conversions
	 	 	43	 
	2.07

	 	Pro Rata Borrowings
	 	 	44	 
	2.08

	 	Interest
	 	 	44	 
	2.09

	 	Interest Periods
	 	 	45	 
	2.10

	 	Increased Costs, Illegality, etc.
	 	 	46	 
	2.11

	 	Compensation
	 	 	48	 
	2.12

	 	Change of Lending Office
	 	 	48	 
	2.13

	 	Replacement of Lenders
	 	 	48	 
	2.14

	 	Defaulting Lenders
	 	 	50	 
	2.15

	 	Incremental Credit Extensions
	 	 	52	 
	2.16

	 	Extensions of Term Loans and Revolving Loan Commitments
	 	 	55	 
	2.17

	 	Reverse Dutch Auction Repurchases
	 	 	58	 
	 
	 	 	 	 	 	 
	SECTION 3.

	 	Letters of Credit
	 	 	59	 
	 
	 	 	 	 	 	 
	3.01

	 	Letters of Credit
	 	 	59	 
	3.02

	 	Maximum Letter of Credit Outstandings; Final Maturities
	 	 	61	 
	3.03

	 	Letter of Credit Requests; Minimum Stated Amount
	 	 	61	 
	3.04

	 	Letter of Credit Participations
	 	 	62	 
	3.05

	 	Agreement to Repay Letter of Credit Drawings
	 	 	64	 
	3.06

	 	Increased Costs
	 	 	65	 
	 
	 	 	 	 	 	 
	SECTION 4.

	 	Commitment Commission; Fees; Reductions of Commitment
	 	 	65	 
	 
	 	 	 	 	 	 
	4.01

	 	Fees
	 	 	65	 
	4.02

	 	Voluntary Termination of Unutilized Loan Commitments
	 	 	67	 
	4.03

	 	Mandatory Reduction of Commitments
	 	 	67	 
	 
	 	 	 	 	 	 
	SECTION 5.

	 	Prepayments; Payments; Taxes
	 	 	68	 
	 
	 	 	 	 	 	 
	5.01

	 	Voluntary Prepayments
	 	 	68	 
	5.02

	 	Mandatory Repayments and Commitment Reductions
	 	 	69	 
	5.03

	 	Method and Place of Payment
	 	 	75	 
	5.04

	 	Net Payments
	 	 	76	 

(i)

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	SECTION 6.

	 	Conditions Precedent to Credit Events on the Initial Borrowing Date
	 	 	78	 
	 
	 	 	 	 	 	 
	6.01

	 	Execution of Agreement; Notes
	 	 	78	 
	6.02

	 	Fees, etc.
	 	 	78	 
	6.03

	 	Opinions of Counsel
	 	 	79	 
	6.04

	 	Corporate Documents; Proceedings; etc.
	 	 	79	 
	6.05

	 	Refinancing; Indebtedness
	 	 	79	 
	6.06

	 	Pledge Agreement
	 	 	80	 
	6.07

	 	Security Agreement
	 	 	80	 
	6.08

	 	Mortgages; Title Insurance; etc.
	 	 	81	 
	6.09

	 	Subsidiary Guaranty
	 	 	82	 
	6.10

	 	Ship Mortgages
	 	 	82	 
	6.11

	 	Adverse Change, etc.
	 	 	82	 
	6.12

	 	Solvency Certificate; Insurance
	 	 	83	 
	6.13

	 	Litigation
	 	 	83	 
	6.14

	 	Approvals, etc.
	 	 	83	 
	6.15

	 	Credit Facility Rating
	 	 	83	 
	6.16

	 	Margin Regulations
	 	 	84	 
	6.17

	 	Senior Notes Issuance
	 	 	84	 
	6.18

	 	Know Your Customer
	 	 	84	 
	 
	 	 	 	 	 	 
	SECTION 7.

	 	Conditions Precedent to All Credit Events
	 	 	84	 
	 
	 	 	 	 	 	 
	7.01

	 	No Default; Representations and Warranties
	 	 	84	 
	7.02

	 	Notice of Borrowing; Letter of Credit Request
	 	 	84	 
	 
	 	 	 	 	 	 
	SECTION 8.

	 	Representations and Warranties
	 	 	85	 
	 
	 	 	 	 	 	 
	8.01

	 	Corporate Status
	 	 	85	 
	8.02

	 	Corporate Power and Authority
	 	 	85	 
	8.03

	 	No Violation
	 	 	85	 
	8.04

	 	Governmental Approvals
	 	 	86	 
	8.05

	 	Financial Statements; Financial Condition; Undisclosed Liabilities;
Projections; etc.
	 	 	86	 
	8.06

	 	Litigation
	 	 	87	 
	8.07

	 	True and Complete Disclosure
	 	 	87	 
	8.08

	 	Use of Proceeds; Margin Regulations
	 	 	87	 
	8.09

	 	Tax Returns and Payments
	 	 	88	 
	8.10

	 	Compliance with ERISA
	 	 	88	 
	8.11

	 	The Security Documents
	 	 	89	 
	8.12

	 	Properties
	 	 	90	 
	8.13

	 	Subsidiaries
	 	 	91	 
	8.14

	 	Compliance with Statutes, etc.
	 	 	91	 
	8.15

	 	Investment Company Act
	 	 	91	 
	8.16

	 	Labor Relations
	 	 	91	 
	8.17

	 	Patents, Licenses, Franchises and Formulas
	 	 	91	 
	8.18

	 	Indebtedness
	 	 	91	 
	8.19

	 	Environmental Matters
	 	 	92	 

(ii)

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	8.20

	 	Legal Names; Type of Organization (and Whether a Registered
Organization); Jurisdiction of Organization; etc.
	 	 	92	 
	 
	 	 	 	 	 	 
	SECTION 9.

	 	Affirmative Covenants
	 	 	92	 
	 
	 	 	 	 	 	 
	9.01

	 	Information Covenants
	 	 	92	 
	9.02

	 	Books, Records and Inspections
	 	 	96	 
	9.03

	 	Maintenance of Property; Insurance
	 	 	96	 
	9.04

	 	Corporate Franchises
	 	 	97	 
	9.05

	 	Compliance with Statutes, etc.
	 	 	97	 
	9.06

	 	ERISA
	 	 	97	 
	9.07

	 	End of Fiscal Years; Fiscal Quarters
	 	 	98	 
	9.08

	 	Performance of Obligations
	 	 	99	 
	9.09

	 	Payment of Taxes
	 	 	99	 
	9.10

	 	Intellectual Property Rights
	 	 	99	 
	9.11

	 	Additional Security; Further Assurances
	 	 	99	 
	9.12

	 	Ratings
	 	 	101	 
	9.13

	 	Permitted Acquisitions
	 	 	101	 
	9.14

	 	Compliance with Environmental Laws
	 	 	103	 
	 
	 	 	 	 	 	 
	SECTION 10.

	 	Negative Covenants
	 	 	104	 
	 
	 	 	 	 	 	 
	10.01

	 	Liens	 	 	104	 
	10.02

	 	Consolidation, Merger, Purchase or Sale of Assets, etc.
	 	 	106	 
	10.03

	 	Dividends
	 	 	108	 
	10.04

	 	Indebtedness
	 	 	110	 
	10.05

	 	Advances, Investments and Loans
	 	 	112	 
	10.06

	 	Transactions with Affiliates
	 	 	114	 
	10.07

	 	Maximum Capital Expenditures
	 	 	115	 
	10.08

	 	Senior Secured Net Leverage Ratio
	 	 	115	 
	10.09

	 	Total Net Leverage Ratio
	 	 	115	 
	10.10

	 	Interest Expense Coverage Ratio
	 	 	116	 
	10.11

	 	Limitation on Modifications of Certificate or Articles of
Incorporation, By-Laws and Certain Other Agreements; Limitations of Prepayments
and Modifications of Indebtedness; etc.
	 	 	116	 
	10.12

	 	Limitation on Certain Restrictions on Subsidiaries
	 	 	117	 
	10.13

	 	Limitation on Issuance of Capital Stock
	 	 	117	 
	10.14

	 	Business
	 	 	118	 
	 
	 	 	 	 	 	 
	SECTION 11.

	 	Events of Default
	 	 	118	 
	 
	 	 	 	 	 	 
	11.01

	 	Payments
	 	 	118	 
	11.02

	 	Representations, etc.
	 	 	118	 
	11.03

	 	Covenants
	 	 	118	 
	11.04

	 	Default Under Other Agreements
	 	 	118	 
	11.05

	 	Bankruptcy, etc.
	 	 	119	 
	11.06

	 	ERISA
	 	 	119	 
	11.07

	 	Security Documents
	 	 	120	 
	11.08

	 	Guaranty
	 	 	120	 

(iii)

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	11.09

	 	Judgments
	 	 	120	 
	11.10

	 	Gaming Authority
	 	 	120	 
	11.11

	 	Change of Control
	 	 	120	 
	 
	 	 	 	 	 	 
	SECTION 12.

	 	The Administrative Agent
	 	 	121	 
	 
	 	 	 	 	 	 
	12.01

	 	Appointment
	 	 	121	 
	12.02

	 	Nature of Duties
	 	 	122	 
	12.03

	 	Lack of Reliance on the Administrative Agent
	 	 	122	 
	12.04

	 	Certain Rights of the Administrative Agent
	 	 	122	 
	12.05

	 	Reliance
	 	 	123	 
	12.06

	 	Indemnification
	 	 	123	 
	12.07

	 	The Administrative Agent in Its Individual Capacity
	 	 	123	 
	12.08

	 	Holders
	 	 	124	 
	12.09

	 	Resignation by the Administrative Agent
	 	 	124	 
	12.10

	 	Amendments to Security Documents
	 	 	125	 
	12.11

	 	Other Agents
	 	 	126	 
	12.12

	 	Delivery of Information
	 	 	126	 
	 
	 	 	 	 	 	 
	SECTION 13.

	 	Miscellaneous
	 	 	126	 
	 
	 	 	 	 	 	 
	13.01

	 	Payment of Expenses, etc.
	 	 	126	 
	13.02

	 	Right of Setoff; Collateral Matters
	 	 	128	 
	13.03

	 	Notices
	 	 	128	 
	13.04

	 	Benefit of Agreement
	 	 	128	 
	13.05

	 	No Waiver; Remedies Cumulative
	 	 	132	 
	13.06

	 	Payments Pro Rata
	 	 	132	 
	13.07

	 	Calculations; Computations
	 	 	133	 
	13.08

	 	GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL
	 	 	134	 
	13.09

	 	Counterparts
	 	 	135	 
	13.10

	 	Effectiveness
	 	 	135	 
	13.11

	 	Headings Descriptive
	 	 	135	 
	13.12

	 	Amendment or Waiver; etc.
	 	 	135	 
	13.13

	 	Survival
	 	 	138	 
	13.14

	 	Domicile of Loans
	 	 	138	 
	13.15

	 	Confidentiality
	 	 	138	 
	13.16

	 	Registry
	 	 	139	 
	13.17

	 	Application of Gaming Regulations
	 	 	140	 
	13.18

	 	USA PATRIOT Act Notice
	 	 	140	 
	13.19

	 	Post-Closing Actions
	 	 	140	 
	13.20

	 	Interest Rate Limitation.
	 	 	141	 

	 	 	 

	SCHEDULE 2.01

	 	Commitments
	SCHEDULE 2.17

	 	Reverse Dutch Auctions
	SCHEDULE 3.01

	 	Existing Letters of Credit
	SCHEDULE 6.10

	 	Ship Properties
	SCHEDULE 8.09

	 	Tax Matters

(iv)

 

	 	 	 

	SCHEDULE 8.10

	 	ERISA Matters
	SCHEDULE 8.11(c)

	 	Real Property
	SCHEDULE 8.13

	 	Subsidiaries
	SCHEDULE 8.18

	 	Existing Indebtedness
	SCHEDULE 8.19

	 	Environmental Matters
	SCHEDULE 8.20

	 	Legal Names; Type of Organization (and Whether a Registered Organization); Jurisdiction of
Organization, etc.
	SCHEDULE 9.03(b)

	 	Insurance Policy Endorsement
	SCHEDULE 10.01(iii)

	 	Existing Liens
	SCHEDULE 10.03

	 	Restricted Payment Basket Amount
	SCHEDULE 13.03

	 	Lender Addresses
	SCHEDULE 13.19

	 	Required Post-Closing Items
	 
	EXHIBIT A-1

	 	Form of Notice of Borrowing
	EXHIBIT A-2

	 	Form of Notice of Conversion/Continuation
	EXHIBIT B-1

	 	Form of A Term Note
	EXHIBIT B-2

	 	Form of B Term Note
	EXHIBIT B-3

	 	Form of Revolving Note
	EXHIBIT B-4

	 	Form of Swingline Note
	EXHIBIT C

	 	Form of Letter of Credit Request
	EXHIBIT D

	 	Form of Section 5.04(b)(ii) Certificate
	EXHIBIT E

	 	Opinion of Gibson, Dunn & Crutcher LLP,
Special Counsel to the Credit Parties
	EXHIBIT F

	 	Form of Officers’ Certificate
	EXHIBIT G

	 	Form of Pledge Agreement
	EXHIBIT H

	 	Form of Security Agreement
	EXHIBIT I

	 	Form of Mortgage
	EXHIBIT J

	 	Form of Subsidiary Guaranty
	EXHIBIT K

	 	Form of Assignment and Assumption Agreement
	EXHIBIT L

	 	Form of Solvency Certificate
	EXHIBIT M

	 	Form of Ship Mortgage
	EXHIBIT N

	 	Form of Intercompany Note

(v)

 

          CREDIT AGREEMENT, dated as of April 14, 2011, among AMERISTAR CASINOS, INC., a Nevada
corporation (the “Borrower”), the Lenders party hereto from time to time, and DEUTSCHE BANK
TRUST COMPANY AMERICAS, as Administrative Agent (all capitalized terms used herein and defined in
Section 1 are used herein as therein defined).

WITNESSETH:

          WHEREAS, subject to and upon the terms and conditions herein set forth, the Lenders are
willing to make available to the Borrower the respective credit facilities provided for herein;

          NOW, THEREFORE, IT IS AGREED:

          SECTION 1. Definitions and Accounting Terms.

          1.01 Defined Terms. As used in this Agreement, the following terms shall have the
following meanings (such meanings to be equally applicable to both the singular and plural forms of
the terms defined):

          “Accounting Changes” shall have the meaning provided in Section 13.07(a).

          “Acquired Entity or Business” shall mean either (x) the assets constituting a
business, division or product line of any Person not already a Subsidiary of the Borrower or (y)
100% of the Equity Interests of any such Person, which Person shall, as a result of the acquisition
of such Equity Interests, become a Wholly-Owned Domestic Subsidiary of the Borrower (or shall be
merged with and into the Borrower or another Wholly-Owned Domestic Subsidiary of the Borrower that
is a Subsidiary Guarantor, with the Borrower or such Subsidiary Guarantor being the surviving or
continuing Person).

          “Additional Collateral” shall mean all property (whether real or personal) in which
security interests are granted (or have been purported to be granted) (and continue to be in effect
at the time of determination) pursuant to Section 9.11.

          “Additional Mortgage” shall have the meaning provided in Section 9.11(a).

          “Additional Security Documents” shall mean all mortgages, pledge agreements, security
agreements and other security documents entered into pursuant to Section 9.11 with respect to
Additional Collateral.

          “Additional Ship Mortgage” shall have the meaning provided in Section 9.11(b).

          “Additional Ship Mortgaged Property” shall have the meaning provided in Section
9.11(b).

          “Adjustable Applicable Margins” shall have the meaning provided in the definition of
Applicable Margin.

 

          “Adjusted Consolidated Net Income” shall mean, for any period, Consolidated Net Income
for such period plus the sum of the amount of all non-cash charges (including, without
limitation, depreciation, amortization, impairments, deferred tax expense and non-cash interest
expense), non-cash losses and losses from the disposition of assets which were included in arriving
at Consolidated Net Income for such period, less the amount of all non-cash gains, non-cash
credits and gains from the disposition of assets which were included in arriving at Consolidated
Net Income for such period.

          “Adjusted Consolidated Working Capital” shall mean, at any time, Consolidated Current
Assets (but excluding therefrom all cash and Cash Equivalents) less Consolidated Current
Liabilities at such time.  For purposes of calculating Adjusted Consolidated Working
Capital, (i) for any period in which a Permitted Acquisition occurs, the “consolidated current
assets” and “consolidated current liabilities” of any Acquired Entity or Business (determined on a
basis consistent with the corresponding definitions herein, with appropriate reference changes) as
of the date such Permitted Acquisition is consummated shall be added to Consolidated Current Assets
or Consolidated Current Liabilities, as the case may be, as of the first day of the applicable
period and (ii) for any period in which an Asset Sale occurs, the “consolidated current assets” and
“consolidated current liabilities” transferred in such Asset Sale (determined on a basis consistent
with the corresponding definitions herein, with appropriate reference changes), as of the date such
Asset Sale is consummated shall be deducted from Consolidated Current Assets or Consolidated
Current Liabilities, as the case may be, as of the first day of the applicable period.

          “Additional Lender” shall have the meaning provided in Section 2.15(d).

          “Administrative Agent” shall mean Deutsche Bank Trust Company Americas, in its
capacity as Administrative Agent for the Lenders hereunder, and shall include any successor to the
Administrative Agent appointed pursuant to Section 12.09.

          “Affiliate” shall mean, with respect to any Person, any other Person (including for
purposes of Section 10.06 only, all directors, officers and partners of such Person) directly or
indirectly controlling, controlled by, or under direct or indirect common control with, such
Person; provided, however, that for purposes of Section 10.06, an Affiliate of the
Borrower shall include any Person that directly or indirectly owns more than 10% of any class of
the capital stock of the Borrower. A Person shall be deemed to control another Person if such
Person possesses, directly or indirectly, the power to direct or cause the direction of the
management and policies of such other Person, whether through the ownership of voting securities,
by contract or otherwise.

          “Agreement” shall mean this Credit Agreement, as amended, modified, extended, renewed,
replaced, restated or supplemented from time to time.

          “Anticipated Reinvestment Amount” shall mean, with respect to any Reinvestment
Election, the amount specified in the Reinvestment Notice delivered by the
Borrower in connection therewith as the amount of Net Asset Sale Proceeds or Net Insurance
Proceeds from the related Asset Sale or Recovery Event, as the case may be, that the Borrower

2

 

and/or its Subsidiaries intend to use to purchase, construct or otherwise acquire Reinvestment
Assets.

          “Applicable Commitment Commission Rate” shall mean, for each Non-Defaulting RL Lender,
a rate per annum equal to 0.50% of the Unutilized Revolving Loan Commitment of such
Non-Defaulting RL Lender as in effect from time to time; provided that, commencing upon the
delivery of the Quarterly Pricing Certificate for the full fiscal quarter of the Borrower ending
December 31, 2011, from and after any Start Date to and including the corresponding End Date, the
Applicable Commitment Commission Rate shall be that set forth below opposite the Total Net Leverage
Ratio achieved as indicated in the Quarterly Pricing Certificate delivered with respect to such
period:

	 	 	 	 	 
	 	 	Applicable Commitment
	Total Net Leverage Ratio	 	Commission Rate
	Equal to or greater than 4.5 to 1.0
	 	 	0.50	%
	Less than 4.5 to 1.0
	 	 	0.375	%

          “Applicable Excess Cash Flow Percentage” shall mean, with respect to any Excess Cash
Payment Date, 25%; provided that so long as no Event of Default under Section 11.01 is then
in existence, if on the last day of the relevant Excess Cash Payment Period, the Total Net Leverage
Ratio for the Test Period then most recently ended (as set forth in the officer’s certificate
delivered (or required to be delivered) with respect to such Test Period pursuant to Section
9.01(e), is less than 4.75:1.00, then the Applicable Excess Cash Flow Percentage shall instead be
0%.

          “Applicable Margin” shall mean a percentage per annum equal to (i) in the case of A
Term Loans maintained as (A) Base Rate Loans, 1.75% and (B) Eurodollar Loans, 2.75%; (ii) in the
case of B Term Loans, maintained as (A) Base Rate Loans, 2.00% and (B) Eurodollar Loans, 3.00%;
(iii) in the case of Revolving Loans maintained as (A) Base Rate Loans, 1.75% and (B) Eurodollar
Loans, 2.75%; and (iv) in the case of Swingline Loans, 1.75%. From and after each date of delivery
of any Quarterly Pricing Certificate indicating an entitlement to a different margin for any
Tranche of Loans (other than B Term Loans) than that described in the immediately preceding
sentence or that described below as a result of the then most recent adjustment made to the
Adjustable Applicable Margins (each, a “Start Date”) to and including the applicable End
Date described below, the Applicable Margins for such Tranches of Loans (hereinafter, the
“Adjustable Applicable Margins”) shall be those set forth below opposite the Total Net
Leverage Ratio indicated to have been achieved in any certificate delivered in accordance with the
following paragraph:

3

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Revolving Loan Base	 	 
	 	 	 	 	 	 	 	 	 	 	Rate Margin and	 	 
	 	 	A Term Loan	 	A Term Loan	 	Swingline Loan	 	Revolving Loan
	Total Net Leverage Ratio	 	Base Rate Margin	 	Eurodollar Margin	 	Margin	 	Eurodollar Margin
	Equal to or greater
than 5.5 to 1.0
	 	 	1.75	%	 	 	2.75	%	 	 	1.75	%	 	 	2.75	%
	Equal to or greater
than 4.5 to 1.0 but
less than 5.5 to
1.0
	 	 	1.50	%	 	 	2.50	%	 	 	1.50	%	 	 	2.50	%
	Less than 4.5 to 1.0
	 	 	1.25	%	 	 	2.25	%	 	 	1.25	%	 	 	2.25	%

          The Total Net Leverage Ratio used in a determination of Adjustable Applicable Margins shall be
determined based on the delivery of a certificate of the Borrower (each, a “Quarterly Pricing
Certificate”) by an Authorized Officer of Borrower to the Administrative Agent (with a copy to
be sent by the Administrative Agent to each Lender), within 45 days of the last day of any fiscal
quarter of the Borrower, which certificate shall set forth the calculation of the Total Net
Leverage Ratio as at the last day of the Test Period ended immediately prior to the relevant Start
Date. The Adjustable Applicable Margins so determined shall apply, except as set forth in the
succeeding sentence, from the relevant Start Date to the earlier of (x) the date on which the next
Quarterly Pricing Certificate is delivered to the Administrative Agent or (y) the date which is 45
days following the last day of the Test Period in which the previous Start Date occurred (such
earliest date, the “End Date”), at which time, if no certificate has been delivered to the
Administrative Agent indicating an entitlement to new Adjustable Applicable Margins (and thus
commencing a new Start Date), the Adjustable Applicable Margins shall be those set forth in the
first sentence of this definition (such Adjustable Applicable Margins as so determined, the
“Highest Adjustable Applicable Margins”) until the date, if any, on which the overdue
Quarterly Pricing Certificate is delivered demonstrating an entitlement to new Adjustable
Applicable Margins. Notwithstanding anything to the contrary contained above in this definition,
the Adjustable Applicable Margins shall be the Highest Adjustable Applicable Margins (x) at all
times, after the election of Required Lenders, during which there shall exist any Event of Default
under Section 11.01 and (y) at all times prior to the date of delivery of the financial statements
pursuant to Section 9.01(a) for the fiscal quarter of Borrower ending December 31, 2011. In
addition, the Applicable Margin shall be subject to adjustment pursuant to Section 2.15(b).

          “Asset Sale” shall mean the sale, transfer or other disposition by the Borrower or any
of its Subsidiaries to any Person other than the Borrower or any of its Subsidiaries of any asset
of the Borrower or such Subsidiary, other than (a) sales, transfers or other dispositions in the
ordinary course of business of goods or inventory and/or obsolete, worn out or excess equipment
(including gaming equipment replaced in the ordinary course of business, leases or subleases of
real or personal property in the ordinary course of business and licenses or other dispositions of
intellectual property in the ordinary course of business), (b) making Investments

4

 

as permitted by Section 10.05 and (c) sales, transfers or other dispositions the proceeds of
which do not exceed $20,000,000 for any transaction or series of related transactions.

          “Assignment and Assumption Agreement” shall mean the Assignment and Assumption
Agreement substantially in the form of Exhibit K (appropriately completed).

          “A Term Loan” shall have the meaning provided in Section 2.01(a).

          “A Term Loan Commitment” shall mean, for each Lender, the amount set forth opposite
such Lender’s name in Schedule 2.01 directly below the column entitled “A Term Loan Commitment” as
the same may be terminated pursuant to Sections 4.03 and/or 11.

          “A Term Loan Maturity Date” shall mean the fifth anniversary of the Initial Borrowing
Date.

          “A Term Note” shall have the meaning provided in Section 2.05(a).

          “A TL Percentage” shall mean, at any time, a fraction (expressed as a percentage) the
numerator of which is equal to the aggregate principal amount of all A Term Loans outstanding at
such time and the denominator of which is equal to the aggregate principal amount of all Term Loans
outstanding at such time.

          “Auction” shall have the meaning provided in Section 2.17(a).

          “Auction Manager” shall have the meaning provided in Section 2.17(a).

          “Authorized Officer” of any Credit Party shall mean any of the Chairman of the Board,
the President, the Chief Executive Officer, any Vice President, the Treasurer, the Secretary, any
Assistant Secretary, any Assistant Treasurer, the Chief Financial Officer or the Controller of such
Credit Party or any other officer of such Credit Party which is designated in writing to the
Administrative Agent and the Issuing Lender by any of the foregoing officers of such Credit Party
as being authorized to give such notices under this Agreement.

          “Available Investment Basket Amount” shall mean, on any date of determination, an
amount equal to the sum (without duplication) of (i) the greater of $50,000,000 and 2.5% of
Consolidated Net Tangible Assets minus (ii) the aggregate amount of Investments made
(including for such purpose the fair market value of any assets contributed to any Investment
Entity (as determined in good faith by senior management of the Borrower), net of Indebtedness
assigned to, and assumed by, the respective Investment Entity in connection therewith) pursuant to
Section 10.05(xiii) after the Effective Date, plus (iii) the amount of any increase to the
Available Investment Basket Amount made after the Effective Date in accordance with the provisions
of Section 10.05(xiii).

          “Bankruptcy Code” shall have the meaning provided in Section 11.05.

          “Base Rate” shall mean, for any day, a rate per annum equal to the highest of (i) the
Prime Lending Rate in effect on such day, (ii) the Federal Funds Rate in effect on such day plus
0.50%, (iii) the Eurodollar Rate for a Eurodollar Loan denominated in Dollars with a one-

5

 

month interest period commencing on such day plus 1.00% and (iv) in the case of B Term
Loans only, the Base Rate Floor. For purposes of this definition, the Eurodollar Rate shall be
determined using the Eurodollar Rate as otherwise determined by the Administrative Agent in
accordance with the definition of Eurodollar Rate, except that (x) if a given day is a Business
Day, such determination shall be made on such day (rather than two Business Days prior to the
commencement of an Interest Period) or (y) if a given day is not a Business Day, the Eurodollar
Rate for such day shall be the rate determined by the Administrative Agent pursuant to preceding
clause (x) for the most recent Business Day preceding such day. Any change in the Base Rate due to
a change in the Prime Lending Rate, the Federal Funds Rate or such Eurodollar Rate shall be
effective as of the opening of business on the day of such change in the Prime Lending Rate, the
Federal Funds Rate or such Eurodollar Rate, respectively.

          “Base Rate Floor” shall mean 2.00% per annum.

          “Base Rate Loan” shall mean (i) each Swingline Loan and (ii) each other Loan
designated or deemed designated as such by the Borrower at the time of the incurrence thereof or
conversion thereto.

          “Borrower” shall have the meaning provided in the first paragraph of this Agreement.

          “Borrowing” shall mean the borrowing of one Type of Loan of a single Tranche from all
the Lenders (other than Defaulting Lenders) having Commitments of the respective Tranche (or from
the Swingline Lender in the case of Swingline Loans) on a given date (or resulting from a
conversion or conversions on such date) having in the case of Eurodollar Loans the same Interest
Period; provided that Base Rate Loans incurred pursuant to Section 2.10(b) shall be
considered part of the related Borrowing of Eurodollar Loans.

          “B Term Loan” shall have the meaning provided in Section 2.01(b).

          “B Term Loan Commitment” shall mean, for each Lender, the amount set forth opposite
such Lender’s name in Schedule 2.01 directly below the column entitled “B Term Loan Commitment” as
the same may be terminated pursuant to Sections 4.03 and/or 11.

          “B Term Loan Maturity Date” shall mean the seventh anniversary of the Initial
Borrowing Date.

          “B Term Note” shall have the meaning provided in Section 2.05(a).

          “B TL Percentage” shall mean, at any time, a fraction (expressed as a percentage) the
numerator of which is equal to the aggregate principal amount of all B Term Loans outstanding at
such time and the denominator of which is equal to the aggregate principal amount of all Term Loans
outstanding at such time.

          “Business Day” shall mean (i) for all purposes other than as covered by clause (ii)
below, any day except Saturday, Sunday and any day which shall be in New York City a legal holiday
or a day on which banking institutions are authorized or required by law or other

6

 

government action to close and (ii) with respect to all notices and determinations in
connection with, and payments of principal and interest on, Eurodollar Loans, any day which is a
Business Day described in clause (i) above and which is also a day for trading by and between banks
in the New York interbank Eurodollar market.

          “Calculation Date” shall mean the date of the respective Permitted Acquisition (or, if
earlier, the date on which a binding agreement is made to complete a Permitted Acquisition),
incurrence, assumption or issuance of Indebtedness, repayment of Indebtedness, or other event, as
the case may be, which gives rise to the requirement to calculate compliance with the financial
covenants set forth in Sections 10.08, 10.09 and 10.10 on a Pro Forma Basis.

          “Calculation Period” shall mean, with respect to any Calculation Date, the Test Period
(taken as one accounting period) most recently ended prior to such Calculation Date for which
financial statements are available.

          “Capital Expenditures” shall mean, with respect to any Person, all expenditures by
such Person which should be capitalized in accordance with GAAP, including all such expenditures
with respect to fixed or capital assets (including, without limitation, expenditures for
maintenance and repairs which should be capitalized in accordance with GAAP) and the amount of
capital assets associated with Capitalized Lease Obligations incurred by such Person (which Capital
Expenditures shall be deemed to include expenditures by such person to acquire stock or other
evidence of beneficial ownership of any other Person for the purpose of acquiring the capital
assets of such Person (to the extent of such capital assets); provided that the term
“Capital Expenditures” shall not include (i) expenditures made in connection with the replacement,
substitution, restoration or repair of assets and constituting reinvestment of Net Asset Sale
Proceeds or Net Insurance Proceeds in accordance with Sections 5.02(e) or (f), (ii) the purchase
price of equipment that is purchased simultaneously with the trade-in of existing equipment to the
extent that the gross amount of such purchase price is reduced by the credit granted by the seller
of such equipment for the equipment being traded in at such time or (iii) any capitalized interest
expense reflected as additions to property, plant or equipment on the consolidated balance sheet of
the Borrower and its Consolidated Subsidiaries.

          “Capitalized Lease Obligations” shall mean, with respect to any Person, all rental
obligations which, under GAAP, are or will be required to be capitalized on the books of such
Person, in each case taken at the amount thereof accounted for as indebtedness in accordance with
GAAP, it being understood that solely with respect to any change in GAAP after the Effective Date
with respect to the accounting for leases as either operating leases or capital leases, any
obligation that is not a Capital Lease Obligation under GAAP as in effect on the Effective Date
will not be treated as a Capital Lease Obligation hereunder or under the other Credit Documents
solely as a result of such change in GAAP after the Effective Date.

          “Cash Equivalents” shall mean, as to any Person, (i) securities issued or directly and
fully guaranteed or insured by the United States or any agency or instrumentality thereof
(provided that the full faith and credit of the United States is pledged in support
thereof) having maturities of not more than one year from the date of acquisition, (ii) time
deposits and certificates of deposit with maturities of not more than one year from the date of
acquisition by such Person of any commercial bank having, or which is the principal banking
subsidiary of a

7

 

bank holding company organized under the laws of the United States, any State thereof, the
District of Columbia or any foreign jurisdiction having capital, surplus and undivided profits
aggregating in excess of $200,000,000, (iii) repurchase obligations with a term of not more than 90
days for underlying securities of the types described in clause (i) above entered into with any
bank meeting the qualifications specified in clause (ii) above, (iv) commercial paper issued by any
Person incorporated in the United States rated at least A-1 or the equivalent thereof by S&P or at
least P 1 or the equivalent thereof by Moody’s and in each case maturing not more than one year
after the date of acquisition by such Person, (v) investments in money market funds substantially
all of whose assets are comprised of securities of the types described in clauses (i) through (iv)
above and (vi) demand deposit accounts maintained in the ordinary course of business.

          “CERCLA” shall mean the Comprehensive Environmental Response, Compensation, and
Liability Act of 1980, as amended, 42 U.S.C. § 9601 et seq., and any successor
thereto.

          “Change of Control” shall mean (i) any Person or group of related Persons for purposes
of Section 13(d) of the Exchange Act, together with any Affiliates thereof (other than, prior to
the consummation of the Stock Repurchase, the Neilsen Family Group), shall become the beneficial
owner, directly or indirectly, of shares representing more than 50% of the aggregate ordinary
voting power represented by the issued and outstanding Voting Stock of the Borrower or (ii) a
“change of control” or similar event shall occur as provided in any Senior Notes Document or the
documentation relating to any Material Indebtedness.

          “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time.

          “Collateral” shall mean all property (whether real or personal) with respect to which
any security interests have been granted (or purported to be granted) pursuant to any Security
Document, including, without limitation, all Pledge Agreement Collateral, all Security Agreement
Collateral, all Mortgaged Properties, all Ship Properties and all cash and Cash Equivalents
delivered as collateral pursuant to Section 6.02 or Section 11 hereof and all Additional
Collateral, if any.

          “Collateral Agent” shall mean the Administrative Agent acting as collateral agent for
the Secured Creditors pursuant to the Security Documents.

          “Commitment” shall mean any of the commitments of any Lender, i.e., an A Term
Loan Commitment, a B Term Loan Commitment or a Revolving Loan Commitment.

          “Commitment Commission” shall have the meaning provided in Section 4.01(a).

          “Consolidated Cash Interest Expense” shall mean, for any period, the total
consolidated interest expense of the Borrower and its Consolidated Subsidiaries (excluding
amortization or write-off of debt discount and debt issuance costs but including commissions and
other fees and charges associated with Indebtedness and all commissions and other fees and charges
owed with respect to letters of credit and bankers’ acceptance financing and net costs under any
Interest Rate Protection or Other Hedging Agreements in respect of interest rates to

8

 

the extent such net costs are allocable to such period in accordance with GAAP) determined on
a consolidated basis in accordance with GAAP for such period and which is required to be paid in
cash during that period (calculated without regard to any limitations on the payment thereof) plus,
without duplication, that portion of Capitalized Lease Obligations of the Borrower and its
Consolidated Subsidiaries determined on a consolidated basis in accordance with GAAP representing
the interest factor for such period.

          “Consolidated Current Assets” shall mean, at any time, the consolidated current assets
of the Borrower and its Subsidiaries at such time, excluding the following: amounts related to
current or deferred taxes based on income or profits, assets held for sale, loans (permitted) to
third parties, pension assets, deferred bank fees and derivative financial instruments, and the
effects of adjustments pursuant to GAAP resulting from the application of recapitalization
accounting or purchase accounting, as the case may be, in relation to any consummated acquisition.

          “Consolidated Current Liabilities” shall mean, at any time, the consolidated current
liabilities of the Borrower and its Subsidiaries at such time, but excluding the current portion of
any Indebtedness under this Agreement and the current portion of any other long-term Indebtedness
which would otherwise be included therein, excluding the following: accruals for current or
deferred taxes based on income or profits, accruals of any costs or expenses related to
restructuring reserves, deferred revenue arising from cash receipts that are earmarked for specific
projects, liabilities in respect of unpaid earn-outs, and the effects of adjustments pursuant to
GAAP resulting from the application of recapitalization accounting or purchase accounting, as the
case may be, in relation to any consummated acquisition.

          “Consolidated EBITDA” shall mean, for any period, the Consolidated Net Income of the
Borrower and its Consolidated Subsidiaries determined on a consolidated basis in accordance with
GAAP, before Consolidated Net Interest Expense, provision for taxes and non- cash compensation
expense and without giving effect to any extraordinary or unusual or nonrecurring income, gains,
expenses or losses, adjusted by adding thereto (i) the amount of all depreciation and amortization
charges, (ii) the amount of pre-opening expenses, (iii) the amount of all other non-cash charges,
losses or expenses of the Borrower and its Subsidiaries determined on a consolidated basis for such
period, in each case other than (A) any non-cash charge representing amortization of a prepaid cash
item that was paid and not expensed in a prior period and (B) any non-cash charge relating to
write-offs, write-downs or reserves with respect to accounts receivable or inventory;
provided that if any non-cash charges referred to in this clause (iii) represent an accrual
or reserve for potential cash items in any future period, the cash payment in respect thereof in
such future period shall be subtracted from Consolidated EBITDA in such future period to such
extent paid, (iv) in the case of any fiscal period ended on or prior to December 31, 2011, costs
and expenses arising from or related to the Transaction, (v) any net after-tax gains or losses on
disposal of abandoned, disposed or discontinued operations during such period or attributable to
asset dispositions or the sale or other disposition of any Equity Interests of any person in each
case other than in the ordinary course of business during such period and (vi) any customary and
reasonable fees and expenses incurred during such period, or any amortization thereof for such
period, in connection with any acquisition, investment, recapitalization, disposition, issuance or
repayment of Indebtedness (and related hedging obligations), issuance of Equity Interests,
refinancing transaction or amendment or modification

9

 

of any debt instrument (in each case, including any such transaction undertaken but not
completed), in each case that were deducted in arriving at Consolidated Net Income for such period.

          “Consolidated Indebtedness” shall mean, at any time, without duplication, the sum of
the aggregate outstanding principal amount of all Indebtedness and the principal component of
Capitalized Lease Obligations, of the Borrower and its Consolidated Subsidiaries determined on a
consolidated basis in accordance with GAAP; provided that (x) the aggregate amount
available to be drawn (i.e., unfunded amounts) under all letters of credit, bankers’
acceptances, bank guaranties and similar obligations issued for the account of the Borrower or any
of its Subsidiaries (but excluding, for avoidance of doubt, all unpaid drawings or other matured
monetary obligations owing in respect of such letters of credit, bankers’ acceptances, bank
guaranties and similar obligations) shall not be included in any determination of “Consolidated
Indebtedness” and (y) the amount of Indebtedness in respect of the Interest Rate Protection or
Other Hedging Agreements shall be at any time the unrealized net loss position, if any, of the
Borrower and/or its Subsidiaries thereunder on a marked-to-market basis determined no more than one
month prior to such time.

          “Consolidated Net Income” shall mean, for any period, the net after-tax income of the
Borrower and its Consolidated Subsidiaries determined on a consolidated basis in accordance with
GAAP.

          “Consolidated Net Interest Expense” shall mean, for any period, the total consolidated
interest expense (calculated without regard to any limitations on the payment thereof) of the
Borrower and its Consolidated Subsidiaries determined on a consolidated basis in accordance with
GAAP for such period plus, without duplication, that portion of Capitalized Lease Obligations of
the Borrower and its Consolidated Subsidiaries determined on a consolidated basis in accordance
with GAAP representing the interest factor for such period, in each case net of the total
consolidated cash interest income of the Borrower and its Consolidated Subsidiaries for such
period.

          “Consolidated Net Tangible Assets” shall mean, as of any date of determination
thereof, the total amount of assets that would appear on the consolidated balance sheet of the
Borrower and its Consolidated Subsidiaries as at the end of the most recently completed fiscal
quarter for which financial statements are available, less the sum of (i) goodwill and other
intangible assets and (ii) all current liabilities (other than any current portion of long-term
Indebtedness), in each case as they would appear on the consolidated balance sheet of the Borrower
and its Consolidated Subsidiaries as at the end of the most recently completed fiscal quarter for
which financial statements are available, determined on a consolidated basis in accordance with
GAAP.

          “Consolidated Subsidiaries” shall mean, as to any Person, all Subsidiaries of such
Person which are consolidated with such Person for financial reporting purposes in accordance with
GAAP.

          “Contingent Obligation” shall mean, as to any Person, any obligation of such Person
guaranteeing or intended to guarantee any Indebtedness, leases, dividends or other

10

 

obligations (“primary obligations”) of any other Person (the “primary obligor”) in any manner,
whether directly or indirectly, including, without limitation, any obligation of such Person,
whether or not contingent, (i) to purchase any such primary obligation or any property constituting
direct or indirect security therefor, (ii) to advance or supply funds (x) for the purchase or
payment of any such primary obligation or (y) to maintain working capital or equity capital of the
primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to
purchase property, securities or services primarily for the purpose of assuring the owner of any
such primary obligation of the ability of the primary obligor to make payment of such primary
obligation or (iv) otherwise to assure or hold harmless the holder of such primary obligation
against loss in respect thereof; provided, however, that the term Contingent
Obligation shall not include endorsements of instruments for deposit or collection in the ordinary
course of business. The amount of any Contingent Obligation shall be deemed to be an amount equal
to the stated or determinable amount of the primary obligation in respect of which such Contingent
Obligation is made (or, if less, the maximum amount of such primary obligation for which such
Person may be liable pursuant to the terms of the instrument evidencing such Contingent Obligation)
or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof
(assuming such Person is required to perform thereunder) as determined by such Person in good
faith.

          “Credit Documents” shall mean this Agreement and, after the execution and delivery
thereof pursuant to the terms of this Agreement, each Note, each Security Document and each
Subsidiary Guaranty.

          “Credit Event” shall mean the making of any Loan or the issuance, amendment, extension
or renewal of any Letter of Credit (other than any amendment, extension or renewal that does not
increase the maximum Stated Amount of such Letter of Credit).

          “Credit Party” shall mean the Borrower and each Subsidiary Guarantor.

          “DBTCA” shall mean Deutsche Bank Trust Company Americas in its individual capacity.

          “Default” shall mean any event, act or condition which with notice or lapse of time,
or both, would constitute an Event of Default.

          “Defaulting Lender” shall mean any Lender with respect to which a Lender Default is in
effect.

          “Disqualified Stock” shall mean any capital stock which, by its terms (or by the terms
of any security into which it is convertible or for which it is exchangeable), or upon the
happening of any event, (i) matures (excluding any maturity as the result of an optional redemption
by the issuer thereof) or is mandatorily redeemable, pursuant to a sinking fund obligation or
otherwise (other than solely as a result of a requirement of any applicable Gaming Regulations and
other than solely for capital stock other than Disqualified Stock and cash in lieu of fractional
shares), or is redeemable at the option of the holder thereof, in whole or in part, on or prior to
the first anniversary of the Maturity Date existing on the date such capital stock is issued, (ii)
is convertible into or exchangeable (unless at the sole option of the issuer thereof) for

11

 

(a) debt securities or (b) any capital stock referred to in (i) above, in each case at any
time prior to the first anniversary of the latest Maturity Date existing on the date such capital
stock is issued or (iii) contains any restrictive covenants other than those which are reasonably
satisfactory to the Administrative Agent; provided, that if such capital stock is issued to
any plan for the benefit of employees of the Borrower or its Subsidiaries or by any such plan to
such employees, such capital stock shall not constitute Disqualified Stock solely because it may be
required to be repurchased by the Borrower or its Subsidiaries in order to satisfy applicable
statutory or regulatory obligations. The amount of any Disqualified Stock shall be the greater of
the face amount and the maximum redemption or repurchase price thereof.

          “Dividend” shall mean, with respect to any Person, that such Person has declared or
paid a dividend, made a distribution or returned any equity capital to its stockholders, partners
or members in their capacity as such or authorized or made any other distribution, payment or
delivery of property (other than common Equity Interests of such Person) or cash to its
stockholders, partners or members in their capacity as such, or redeemed, retired, purchased or
otherwise acquired, directly or indirectly, for consideration any of its Equity Interests
outstanding on or after the Effective Date, or set aside any funds for any of the foregoing
purposes, or shall have permitted any of its Subsidiaries to purchase or otherwise acquire for
consideration (other than common Equity Interests) any shares of any class of the Equity Interests
of such Person outstanding on or after the Effective Date; provided that, “Dividends” with
respect to any Person shall include payments made by such Person with respect to any stock
appreciation rights, plans, equity incentive or achievement plans or any similar plans, or
irrevocable setting aside of any funds for the foregoing purposes, but only to the extent such
payments (or the obligations to make such payments) do not result in a deduction to Consolidated
Net Income.

          “Documents” shall mean, collectively, (i) the Credit Documents, (ii) the Refinancing
Documents, (iii) the Senior Note Documents and (iv) the Stock Repurchase Documents.

          “Dollars” and the sign “$” shall each mean freely transferable lawful money of
the United States.

          “Domestic Subsidiary” shall mean each Subsidiary that is incorporated or organized in
the United States or any State thereof.

          “Drawing” shall have the meaning provided in Section 3.05(b).

          “Effective Date” shall have the meaning provided in Section 13.10.

          “Effective Yield” shall mean, as to any Loans of any Tranche, the effective yield on
such Loans as reasonably determined by the Administrative Agent, taking into account the applicable
interest rate margins, any interest rate floors or similar devices, all recurring fees and all
other fees, including upfront or similar fees or original issue discount (amortized over the
shorter of (x) the Weighted Average Life to Maturity of such Loans and (y) the four years following
the date of incurrence thereof) payable to all Lenders making such Loans, but excluding any
arrangement, structuring, syndication or other fees payable in connection

12

 

therewith that are not generally shared with all Lenders making such Loans and customary
consent fees paid generally to consenting Lenders.

          “Eligible Transferee” shall mean and include a commercial bank, an insurance company,
a finance company, a financial institution, any fund that invests in loans or any other “accredited
investor” (as defined in Regulation D of the Securities Act), but in any event excluding the
Borrower and its Affiliates (other than, in the case of an assignment of Term Loans effected in
accordance with Section 13.04(e), an Affiliated Lender).

          “End Date” shall have the meaning provided in the definition of Applicable Margin.

          “Environmental Claims” shall mean any and all administrative, regulatory or judicial
actions, suits, written demands, demand letters, written claims, liens, written notices of
non-compliance or violation, investigations or proceedings arising under any Environmental Law or
any permit issued under any such law, including, without limitation, (a) any and all claims by
governmental or regulatory authorities for enforcement, cleanup, removal, response, remedial or
other actions or damages pursuant to any applicable Environmental Law, and (b) any and all claims
by any third party seeking damages, contribution, indemnification, cost recovery, compensation or
injunctive relief resulting from Hazardous Materials or arising from alleged injury or threat of
injury to health, safety or the environment.

          “Environmental Law” shall mean any applicable Federal, state, provincial, foreign or
local statute, law, rule, regulation or rule of common law now or hereafter in effect and in each
case as amended, and any legally binding judicial or administrative interpretation thereof,
including any judicial or administrative order, consent decree or judgment relating to the
environment, employee health and safety or Hazardous Materials, including, without limitation,
CERCLA, the Resource Conservation and Recovery Act, as amended, 42 U.S.C. § 6901, et
seq.; the Federal Water Pollution Control Act, 33 U.S.C. § 2601 et seq.;
the Clean Air Act, 42 U.S.C. § 7401 et seq.; the Safe Drinking Water Act, 42 U.S.C.
§ 3803 et seq.; the Oil Pollution Act of 1990, 33 U.S.C. § 2701 et
seq.; the Hazardous Material Transportation Act, 49 U.S.C. § 1801 et seq.;
and any state and local or foreign counterparts or equivalents, in each case as amended from time
to time.

          “Equity Interests” of any Person shall mean any and all shares, interests, rights to
purchase, warrants, options, participation or other equivalents of or interest in (however
designated) equity of such Person, including any common stock, preferred stock, any limited or
general partnership interest and any limited liability company membership or member’s interest.

          “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended
from time to time, and the regulations promulgated and rulings issued thereunder. Section
references to ERISA are to ERISA, as in effect at the date of this Agreement and any subsequent
provisions of ERISA, amendatory thereof, supplemental thereto or substituted therefor.

          “ERISA Affiliate” shall mean each person (as defined in Section 3(9) of ERISA) which
together with the Borrower or a Subsidiary of the Borrower would be deemed to be a

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“single employer” (i) within the meaning of Section 414(b), (c), (m) or (o) of the Code or
(ii) as a result of the Borrower or a Subsidiary of the Borrower being or having been a general
partner of such person.

          “Eurodollar Loan” shall mean each Loan designated as such by the Borrower at the time
of the incurrence thereof or conversion thereto.

          “Eurodollar Rate” shall mean, with respect to any Eurodollar Loan for any Interest
Period, (i) (a) the rate per annum determined by the Administrative Agent at approximately 11:00
a.m., London time, on the date that is two Business Days prior to the commencement of such Interest
Period by reference to the Reuters Screen LIBOR01 for deposits in Dollars (or such other comparable
page as may, in the opinion of the Administrative Agent, replace such page for the purpose of
displaying such rates) for a period equal to such Interest Period; provided that, to the
extent that an interest rate is not ascertainable pursuant to the foregoing provisions of this
definition, the “Eurodollar Rate” shall be the interest rate per annum determined by the
Administrative Agent to be the average of the rates per annum at which deposits in Dollars are
offered for such relevant Interest Period to major banks in the London interbank market in London,
England by the Administrative Agent at approximately 11:00 a.m. (London time) on the date that is
two Business Days prior to the beginning of such Interest Period or (b) solely in the case of B
Term Loans which are incurred or maintained as Eurodollar Loans, the higher of the rate pursuant to
preceding clause (a) and the LIBOR Floor, in either case divided by (ii) a percentage equal to 100%
minus the then stated maximum rate of all reserve requirements (including, without limitation, any
marginal, emergency, supplemental, special or other reserves required by applicable law) applicable
to any member bank of the Federal Reserve System in respect of Eurocurrency funding or liabilities
as defined in Regulation D (or any successor category of liabilities under Regulation D).

          “Event of Default” shall have the meaning provided in Section 11.

          “Excess Cash Flow” shall mean, for any period, the remainder of (a) the sum of,
without duplication, (i) Adjusted Consolidated Net Income for such period and (ii) the decrease, if
any, in Adjusted Consolidated Working Capital from the first day to the last day of such period,
minus (b) the sum of, without duplication, (i) the aggregate amount of all Capital
Expenditures made by the Borrower and its Subsidiaries during such period with internally generated
funds, Revolving Loans and Swingline Loans, (ii) the aggregate amount of permanent principal
payments of Indebtedness for borrowed money of the Borrower and its Subsidiaries and the permanent
repayment of the principal component of Capitalized Lease Obligations of the Borrower and its
Subsidiaries during such period (other than (1) repayments made pursuant to the Refinancing, (2)
repayments made with the proceeds of asset sales, sales or issuances of Equity Interests, capital
contributions, insurance or Indebtedness, (3) all voluntary and mandatory prepayments of Term Loans
and Revolving Loans, except Scheduled Repayments made pursuant to Section 5.02(b) and (4) payments
of Loans and/or other Obligations; provided that repayments of Loans shall be deducted in
determining Excess Cash Flow to the extent such repayments were required as a result of a Scheduled
Repayment pursuant to Section 5.02(b), (iii) the increase, if any, in Adjusted Consolidated Working
Capital from the first day to the last day of such period and (iv) the amount of Investments made
during such period to the extent permitted under Section 10.05(x) to the extent such Investments
were made by the Borrower and

14

 

its Subsidiaries during such period with internally generated funds, Revolving Loans and
Swingline Loans.

          “Excess Cash Payment Date” shall mean the date occurring 120 days after the last day
of each fiscal year of the Borrower (commencing with the fiscal year of the Borrower ending
December 31, 2011).

          “Excess Cash Payment Period” shall mean (i) with respect to the repayment required on
the first Excess Cash Payment Date, the period from April 1, 2011 to the last day of the Borrower’s
fiscal quarter ending on December 31, 2011 (taken as one accounting period), and (ii) with respect
to the repayment required on each successive Excess Cash Payment Date, the immediately preceding
fiscal year of the Borrower.

          “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended and the
rules and regulations promulgated thereunder.

          “Excluded Information” shall have the meaning provided in Section 2.17(d).

          “Excluded Recovery Event” shall mean any Recovery Event or series of related Recovery
Events the proceeds of which do not exceed $20,000,000.

          “Excluded Taxes” shall have the meaning provided in Section 5.04(a).

          “Existing Credit Agreement” shall mean the credit agreement dated as of November 10,
2005, among, inter alia, the Borrower, various lenders and DBTCA, as administrative agent, as
amended modified or otherwise supplemented from time to time prior to the date hereof.

          “Existing Indebtedness” shall have the meaning provided in Section 8.18. For the
avoidance of doubt, for purposes of this Agreement, the Outstanding Existing Senior Notes and the
Senior Notes do not constitute Existing Indebtedness.

          “Existing Senior Notes” shall mean the Borrower’s 9.25% senior unsecured notes issued
pursuant to the Existing Senior Notes Indenture and due 2014.

          “Existing Senior Notes Indenture” shall mean the indenture governing the Existing
Senior Notes dated as of May 27, 2009, as supplemented, among the Borrower, the subsidiary
guarantors party thereto and Wilmington Trust FSB, as successor trustee.

          “Existing Senior Notes Indenture Amendment” shall mean an amendment to the Existing
Senior Notes Indenture to substantially eliminate the covenants contained therein.

          “Existing Senior Notes Repurchase” shall mean the repurchase by the Borrower for cash
on or after the Initial Borrowing Date of all of the Tendered Existing Senior Notes, and the
payment by the Borrower of all related tender premiums (not to exceed $70,000,000) and accrued and
unpaid interest owing in connection therewith (and, to the extent any Existing Senior Notes
thereafter remain outstanding, any redemption pursuant to the Existing Senior

15

 

Notes Indenture (or repurchase for the same or lower consideration) thereafter of any such
remaining Existing Notes).

          “Extended Revolving Commitment” shall have the meaning provided in Section
2.16(a)(ii).

          “Extended Term Loans” shall have the meaning provided in Section 2.16(a)(iii).

          “Extending Revolving Lender” shall have the meaning provided in Section 2.16(a)(ii).

          “Extending Term Lender” shall have the meaning provided in Section 2.16(a)(iii).

          “Extension” shall have the meaning provided in Section 2.16(a).

          “Extension Offer” shall have the meaning provided in Section 2.16(a).

          “Facing Fee” shall have the meaning provided in Section 4.01(c).

          “FATCA” shall mean Sections 1471 through 1474 of the Code, as enacted on the Effective
Date (and any amended or successor version that is substantively comparable, provided that any such
amended or successor version imposes criteria that are not substantially more onerous than those
contained in such sections as enacted on the Closing Date), and the regulations promulgated
thereunder or published administrative guidance implementing such Sections.

          “Federal Funds Rate” shall mean for any period, a fluctuating interest rate equal for
each day during such period to the weighted average of the rates on overnight Federal Funds
transactions with members of the Federal Reserve System arranged by Federal Funds brokers, as
published for such day (or, if such day is not a Business Day, for the next preceding Business Day)
by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is
a Business Day, the average of the quotations for such day on such transactions received by the
Administrative Agent from three Federal Funds brokers of recognized standing selected by the
Administrative Agent.

          “Fees” shall mean all amounts payable pursuant to or referred to in Section 4.01.

          “Financial Covenants” shall mean the covenants set forth in Sections 10.08, 10.09 and
10.10.

          “Foreign Lender” shall have the meaning provided in Section 5.04(b).

          “Foreign Subsidiary” shall mean each Subsidiary of the Borrower that is incorporated
or organized under the laws of any jurisdiction other than the United States or any State thereof.

          “Former Lender” shall have the meaning provided in Section 13.04(c).

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          “GAAP” shall mean generally accepted accounting principles in the United States as in
effect from time to time; provided that determinations in accordance with GAAP for purposes
of all computations of Excess Cash Flow (including the Applicable Excess Cash Flow Percentage), the
Applicable Margin, the Total Net Leverage Ratio, the Senior Secured Net Leverage Ratio and the
Interest Expense Coverage Ratio, and all computations and all definitions (including accounting
terms) used in determining compliance with Sections 9.13 and 10.07 and the Financial Covenants, are
subject (to the extent provided therein) to Section 13.07(a).

          “Gaming Authorities” shall mean the Governmental Authorities charged with the
administration and enforcement of the Gaming Regulations.

          “Gaming Business” and “Gaming Businesses” shall mean the businesses and
operations of the Borrower and its Subsidiaries with respect to, and the properties and assets of
the Borrower and its Subsidiaries used in connection with, the Specified Casino Properties and any
other casinos, hotel casinos or gaming businesses now or in the future owned by the Borrower or any
of its Subsidiaries or in which the Borrower or any of its Subsidiaries has an interest either
through a joint venture or as a party to a management agreement.

          “Gaming Regulations” shall mean the laws, rules, regulations and orders applicable to
the ownership or conduct of Gaming Businesses or casino and gaming activities of the Borrower or
any of its Subsidiaries in any jurisdiction, as in effect from time to time, including the
policies, interpretations and administration thereof by the Gaming Authorities.

          “Governmental Authorities” shall mean the government of the United States of America,
any other nation or any political subdivision thereof, whether state, provincial or local, and any
agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising
executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government.

          “Guarantor” shall mean each Subsidiary Guarantor.

          “Guaranty” shall mean the Subsidiary Guaranty executed pursuant to Section 6.09, and
any Subsidiary Guaranty executed pursuant to Section 9.11(c).

          “Hazardous Materials” shall mean (a) any petrochemical or petroleum products,
radioactive materials, asbestos in any form that is friable, urea formaldehyde foam insulation,
transformers or other equipment that contain dielectric fluid containing levels of polychlorinated
biphenyls, and radon gas; and (b) any chemicals, materials or substances defined as or included in
the definition of “hazardous substances,” “hazardous wastes,” “hazardous materials,” “restricted
hazardous materials,” “extremely hazardous materials,” “restrictive hazardous wastes,” “toxic
substances,” “toxic pollutants,” “contaminants” or “pollutants,” or words of similar meaning and
regulatory effect under any applicable Environmental Law.

          “Highest Adjustable Applicable Margins” shall have the meaning provided in the
definition of Applicable Margin.

          “Incremental Amendment” shall have the meaning provided in Section 2.15(d).

17

 

          “Incremental Loans” shall have the meaning provide in Section 2.15(a).

          “Incremental Term Loans” shall have the meaning provided in Section 2.15(a).

          “Indebtedness” shall mean, as to any Person, without duplication, (i) all indebtedness
of such Person for borrowed money or for the deferred purchase price of property or services (other
than (x) trade accounts payable and other accrued liabilities incurred in the ordinary course of
business (including deferred payments in respect of services by employees) and (y) any earn-out
obligation that becomes a liability on the balance sheet of such Person in accordance with GAAP and
is not paid after becoming due and payable), (ii) the maximum amount available to be drawn under
all letters of credit issued for the account of such Person and all unpaid drawings in respect of
such letters of credit, (iii) all indebtedness of the types described in clause (i), (ii), (iv),
(v), (vi) or (vii) of this definition secured by any Lien on any property owned by such Person,
whether or not such Indebtedness has been assumed by such Person (to the extent of the lesser of
the amount of such Indebtedness and the value of the respective property), (iv) all Capitalized
Lease Obligations of such Person, (v) all Contingent Obligations of such Person in respect of
Indebtedness of another Person of the type described in clauses (ii), (iii), (iv), (vi) or (vii) of
this definition, (vi) all obligations under any Interest Rate Protection or Other Hedging Agreement
or under any similar type of agreement and (vii) all obligations under Synthetic Leases of such
Person.

          “Indemnified Person” shall have the meaning provided in Section 13.1(a).

          “Individual Exposure” of any Lender shall mean, at any time, the sum of (a) the
aggregate principal amount of all Revolving Loans made by such Lender and then outstanding, (b)
such Lender’s RL Percentage in the aggregate principal amount of all Swingline Loans then
outstanding and (c) such Lender’s RL Percentage in the aggregate amount of all Letter of Credit
Outstandings at such time.

          “Initial Borrowing Date” shall mean the date occurring on or after the Effective Date
on which the initial Borrowing of Loans hereunder occurs.

          “Intellectual Property” shall mean all United States and foreign patents, patent
applications, registered and unregistered trademarks, trade names, service marks and registered
copyrights, owned by or licensed to any of the Credit Parties as of the Initial Borrowing Date that
is material to the operation of the business of any of the Credit Parties.

          “Interest Expense Coverage Ratio” shall mean, on the last day of any applicable Test
Period, the ratio of (a) Consolidated EBITDA for the applicable Test Period to (b) Consolidated
Cash Interest Expense for the applicable Test Period; provided that all calculations of the
Interest Expense Coverage Ratio shall be determined on a Pro Forma Basis.

          “Interest Determination Date” shall mean, with respect to any Eurodollar Loan, the
second Business Day prior to the commencement of any Interest Period relating to such Eurodollar
Loan.

          “Interest Period” shall have the meaning provided in Section 2.09.

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          “Interest Rate Protection or Other Hedging Agreement” shall mean (i) any interest rate
swap agreement, interest rate cap agreement, interest rate collar agreement or other similar
agreement or arrangement, and/or (ii) other types of hedging agreements or arrangements between the
Borrower and an Other Creditor.

          “Investment” shall have the meaning provided in Section 10.05.

          “Investment Entity” shall mean any Person (other than the Borrower or any Subsidiary
Guarantor) in which an Investment is made by the Borrower or its Subsidiaries.

          “Issuing Lender” shall mean DBTCA or any of its Affiliates including, but not limited
to, Deutsche Bank AG, New York Branch, and, in the event DBTCA or such Affiliate declines to become
an Issuing Lender for the purpose of issuing Letters of Credit pursuant to Section 3, any Lender
which at the request of the Borrower and with the consent of the Administrative Agent agrees, in
such Lender’s sole discretion, to become an Issuing Lender for the purpose of issuing Letters of
Credit pursuant to Section 3. On the Initial Borrowing Date, the sole Issuing Lender is (x) in the
case of Standby Letters of Credit, DBTCA and (y) in the case of Trade Letters of Credit, Deutsche
Bank AG, New York Branch.

          “L/C Supportable Obligations” shall mean obligations of the Borrower or its
Subsidiaries incurred in the ordinary course of business.

          “Leaseholds” of any Person means all the right, title and interest of such Person as
lessee or licensee in, to and under leases or licenses of land, improvements and/or fixtures.

          “Lender” shall mean each financial institution listed on Schedule 2.01, as well as any
Person which becomes a “Lender” hereunder pursuant to Sections 2.13 and 13.04(b); provided
that in any event, each such institution shall be a Qualified Person.

          “Lender Default” shall mean, as to any Lender, (i) the wrongful refusal (which has not
been retracted) of such Lender or the failure of such Lender (which has not been cured) to make
available its portion of any Borrowing (including any Mandatory Borrowing) or to fund its portion
of any unreimbursed payment with respect to a Letter of Credit pursuant to Section 2.03(a), (ii)
such Lender having been deemed insolvent or having become the subject of a bankruptcy or insolvency
proceeding or a takeover by a regulatory authority, or (iii) such Lender having notified the
Administrative Agent, the Swingline Lender, any Issuing Lender and/or any Credit Party (x) that it
does not intend to comply with its obligations under Sections 2.01(c), (d) or (e) or Section 3, as
the case may be, in circumstances where such non-compliance would constitute a breach of such
Lender’s obligations under the respective Section or (y) of the events described in preceding
clause (ii); provided that, for purposes of (and only for purposes of) Sections 2.13 (with
respect to clause (i) below only) and 2.14 and any documentation entered into pursuant to the
Letter of Credit Back-Stop Arrangements (and the term “Defaulting Lender” as used therein), the
term “Lender Default” shall also include, as to any Lender, (i) any Affiliate of such Lender that
has “control” (within the meaning provided in the definition of “Affiliate”) of such Lender having
been deemed insolvent or having become the subject of a bankruptcy or insolvency proceeding or a
takeover by a regulatory authority, (ii) any previously cured “Lender Default” of such Lender under
this Agreement, unless such Lender Default has ceased to exist

19

 

for a period of at least 90 consecutive days, (iii) any default by such Lender with respect to
its funding obligations under any two or more other credit facilities to which it is a party and
which the Swingline Lender, any Issuing Lender or the Administrative Agent reasonably believes in
good faith has occurred and is continuing, and (iv) the failure of such Lender to make available
its portion of any Borrowing (including any Mandatory Borrowing) or to fund its portion of any
unreimbursed payment with respect to a Letter of Credit pursuant to Section 3.04(c) within three
(3) Business Days of the date (x) the Administrative Agent (in its capacity as a Lender) or (y)
Lenders constituting the Majority Lenders with Revolving Loan Commitments has or have, as
applicable, funded its or their portion thereof.

          “Letter of Credit” shall have the meaning provided in Section 3.01(a).

          “Letter of Credit Back-Stop Arrangements” shall have the meaning provided in Section
2.14(a)(ii).

          “Letter of Credit Exposure” shall mean, at any time, the aggregate amount of all
Letter of Credit Outstandings at such time in respect of Letters of Credit. The Letter of Credit
Exposure of any RL Lender at any time shall be its RL Percentage of the aggregate Letter of Credit
Exposure at such time.

          “Letter of Credit Fee” shall have the meaning provided in Section 4.01(b).

          “Letter of Credit Outstandings” shall mean, at any time, the sum of (i) the Stated
Amount of all outstanding Letters of Credit at such time and (ii) the aggregate amount of all
Unpaid Drawings in respect of all Letters of Credit at such time.

          “Letter of Credit Request” shall have the meaning provided in Section 3.03(a).

          “LIBOR Floor” shall mean 1.00% per annum.

          “License Revocation” shall mean the revocation, failure to renew or suspension of, or
the appointment of a receiver, supervisor or similar official with respect to, any material casino,
gambling or gaming license issued by any Gaming Authority covering any Material Gaming Facility.

          “Lien” shall mean any mortgage, pledge, hypothecation, assignment, deposit
arrangement, encumbrance, lien (statutory or other), preference or priority arrangement in the
nature of a security interest or other security agreement of any kind or nature whatsoever
(including, without limitation, any conditional sale or other title retention agreement, any
financing or similar statement or notice filed under the UCC or any other similar recording or
notice statute, and any lease having substantially the same effect as any of the foregoing).

          “Liquor Laws” shall have the meaning provided in Section 13.17.

          “Loan” shall mean each Term Loan, each Revolving Loan and each Swingline Loan.

20

 

          “Majority Lenders” of any Tranche shall mean those Non-Defaulting Lenders which would
constitute the Required Lenders under, and as defined in, this Agreement if all outstanding
Obligations of the other Tranches under this Agreement were repaid in full and all Commitments with
respect thereto were terminated.

          “Mandatory Borrowing” shall have the meaning provided in Section 2.01(e).

          “Margin Stock” shall have the meaning provided in Regulation U.

          “Material Adverse Effect” shall mean a material adverse effect on (i) the business,
operations, properties, assets, liabilities or financial condition of the Borrower and its
Subsidiaries taken as a whole (after giving effect to the Transaction), (ii) the ability of the
Credit Parties to perform their material obligations under the Credit Documents or (iii) the rights
and remedies of the Administrative Agent and the Lenders under the Credit Documents.

          “Material Gaming Facility” means any gaming facility the absence, loss or closing of
which could reasonably be expected to have a Material Adverse Effect, including in any event the
Specified Casino Properties (other than Cactus Petes and The Horseshu).

          “Material Indebtedness” shall mean (i) any First Lien Notes, any Second Lien Notes,
and any Permitted Unsecured Notes having an aggregate outstanding principal amount exceeding
$50,000,000 and (ii) any Specified Indebtedness.

          “Material Subsidiary” shall mean each Subsidiary of Borrower now existing or hereafter
acquired or formed by Borrower which, (a) on a consolidated basis for such Subsidiary and its
Subsidiaries, (i) for the four fiscal quarters most recently ended accounted for more than 5% of
the Consolidated EBITDA of the Borrower and its Subsidiaries, or (ii) as at the end of such four
fiscal quarters, was the owner of more than 5% of the consolidated assets of the Borrower and its
Subsidiaries, (b) owns, supplies or operates any assets or function necessary for the conduct of
business at any Material Gaming Facility, or (c) owns any material Intellectual Property necessary
for the conduct of business at any of the Material Gaming Facilities; provided that the
Subsidiaries of the Borrower which are not otherwise Material Subsidiaries but for this proviso
shall be Material Subsidiaries to the extent that on a consolidated basis all such Subsidiaries and
their Subsidiaries (i) for the four fiscal quarters most recently ended accounted for more than 10%
of the Consolidated EBITDA of the Borrower and its Subsidiaries or (ii) as at the end of such four
fiscal quarters were the owner of more than 10% of the consolidated assets of the Borrower and its
Subsidiaries; provided that in any event each Subsidiary which is required to be a
guarantor of the Senior Notes or any other Material Indebtedness shall be a “Material
Subsidiary”.

          “Maturity Date” shall mean, with respect to the relevant Tranche of Loans, the A Term
Loan Maturity Date, the B Term Loan Maturity Date, the Revolving Loan Maturity Date or the
Swingline Expiry Date, as the case may be.

          “Maximum Permitted Consideration” shall mean, with respect to any Permitted
Acquisition, the sum (without duplication) of (i) the fair market value of Equity Interests of the
Borrower issued as consideration in connection with such Permitted Acquisition, (ii) the

21

 

aggregate principal amount of all cash paid by the Borrower or any of its Subsidiaries in
connection with such Permitted Acquisition (including payments of fees and costs and expenses in
connection therewith), and (iii) the fair market value (determined in good faith by senior
management of the Borrower) of all other consideration payable by the Borrower or any of its
Subsidiaries in connection with such Permitted Acquisition.

          “Maximum Swingline Amount” shall mean $30,000,000.

          “Minimum Borrowing Amount” shall mean (A) with respect to Base Rate Loans, (i) for
Term Loans of any Tranche, $1,000,000 (and, if greater, in an integral multiple thereof), (ii) for
Revolving Loans, $1,000,000 (and, if greater, in an integral multiple thereof) and (iii) for
Swingline Loans, $100,000 (and, if greater, in an integral multiple thereof) and (B) with respect
to Eurodollar Loans, (i) for Term Loans of any Tranche, $10,000,000 (and, if greater, in an
integral multiple of $1,000,000) and (ii) for Revolving Loans, $5,000,000 (and, if greater, in an
integral multiple of $1,000,000); provided that, all Tranches of Revolving Loans will be
considered as a single Tranche for purposes of such determination.

          “Minimum Condition” shall mean, with respect to the Existing Senior Notes, that more
than 50% of the aggregate principal amount of all Outstanding Existing Senior Notes shall have been
validly tendered and not withdrawn pursuant to the Tender Offer Consent Solicitation and
repurchased pursuant to the Existing Senior Notes Repurchase.

          “Minimum Extension Condition” shall have the meaning provided in Section 2.16(b).

          “Minimum Tranche Amount” shall have the meaning provided in Section 2.16(b).

          “Moody’s” shall mean Moody’s Investors Service, Inc. and its successors.

          “Mortgage” shall have the meaning provided in Section 6.08(a), and, after the
execution and delivery thereof, shall include each Additional Mortgage delivered pursuant to
Section 9.11.

          “Mortgage Policies” shall have the meaning provided in Section 6.08(c).

          “Mortgaged Property” shall have the meaning provided in Section 6.08(a) and, after the
execution or delivery thereof, shall include each property covered by an Additional Mortgage.

          “Mortgaged Ship Property” shall have the meaning provided in Section 6.10 and, after
the execution or delivery thereof, shall include each property covered by an Additional Ship
Mortgage.

          “Native American Subsidiary” shall mean each Subsidiary of the Borrower formed for the
exclusive purpose of engaging in the business of managing, constructing, developing, servicing, and
otherwise supporting gaming, lodging and related businesses under the auspices of a Native American
tribe, band or other form of government.

22

 

          “Neilsen Family Group” shall have the meaning provided in the Existing Credit
Agreement.

          “Net Asset Sale Proceeds” shall mean for any Asset Sale, the gross cash proceeds
(including any cash received by way of deferred payment pursuant to a promissory note, receivable
or otherwise, but only as and when received) received by the Borrower and/or any of its
Subsidiaries from such Asset Sale, net of reasonable transaction costs (including, without
limitation, any underwriting, brokerage or other customary selling commissions and reasonable
legal, advisory and other fees and expenses, including survey, title and recording expenses,
transfer taxes and reasonable expenses incurred for preparing such assets for sale, associated
therewith) and payments of unassumed liabilities relating to the assets sold at the time of, or
within 30 days after, the date of such sale, the amount of such gross cash proceeds required to be
used to repay any Indebtedness (other than Indebtedness owed to the Lenders pursuant to this
Agreement) which is secured by the respective assets which were disposed of, and the estimated
marginal increase in income taxes which will be payable in cash by the Borrower’s consolidated
group with respect to the fiscal year in which the sale occurs as a result of such Asset Sale and
all distributions and other payments required to be made to minority interest holders in a
Subsidiary as a result of such Asset Sale to the extent not available for distribution to or for
the account of the Borrower as a result thereof; but excluding (i) any portion of any such gross
cash proceeds which the Borrower determines in good faith should be reserved for post-closing
adjustments (to the extent the Borrower delivers to the Lenders a certificate signed by an
Authorized Officer as to such determination), it being understood and agreed that on the day that
all such post-closing adjustments have been determined (which shall not be later than 60 days
following the date of the respective asset sale), the amount (if any) by which the reserved amount
in respect of such Asset Sale exceeds the actual post-closing adjustments payable by the Borrower
or any of its Subsidiaries shall constitute Net Asset Sale Proceeds on such date and (ii) any
portion of any such gross cash proceeds which the Borrower determines in good faith should be
reserved for post-closing liabilities, it being understood and agreed that on the day that all such
post-closing liabilities have been determined (which shall not be later than one year following the
date of the respective Asset Sale), the amount (if any) by which the reserved amount in respect of
such Asset Sale exceeds the actual post-closing liabilities, plus any related reasonable
transaction costs, payable by the Borrower or any of its Subsidiaries shall constitute Net Asset
Sale Proceeds on such date.

          “Net Insurance Proceeds” shall mean, with respect to any Recovery Event, the cash
proceeds (net of reasonable fees and costs (including legal fees) and taxes of the Borrower and its
Subsidiaries incurred in connection with such Recovery Event) received by the respective Person in
connection with such Recovery Event, less the amount of such cash proceeds required to be used to
repay any Indebtedness (other than Indebtedness owed to the Lenders pursuant to this Agreement)
which is secured by the respective assets which were subject to such Recovery Event.

          “Non-Defaulting Lender” and “Non-Defaulting RL Lender” shall mean and include
each Lender or RL Lender, as the case may be, which is not a Defaulting Lender.

          “Note” shall mean each A Term Note, each B Term Note, each Revolving Note and the
Swingline Note.

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          “Notice of Borrowing” shall have the meaning provided in Section 2.03(a).

          “Notice of Conversion/Continuation” shall have the meaning provided in Section 2.06.

          “Notice Office” shall mean the office of the Administrative Agent located at 60 Wall
Street, New York, New York 10005, Attention: Mary Kay Coyle, or such other office as the
Administrative Agent may hereafter designate in writing as such to the other parties hereto.

          “Obligations” shall mean all amounts owing to the Administrative Agent, the Collateral
Agent, any Issuing Lender, the Swingline Lender or any Lender pursuant to the terms of this
Agreement or any other Credit Document (including all interest which accrues after the commencement
of any case or proceeding in bankruptcy after the insolvency of, or for the reorganization of
Borrower or any of its Subsidiaries, whether or not allowed in such case or proceeding).

          “Other Creditor” shall mean any Lender or any Affiliate of any Lender (even if the
respective Lender ceases to be a Lender under this Agreement for any reason, and their successors
and subsequent assigns, if any).

          “Outstanding Existing Senior Notes” shall mean all of the Existing Senior Notes
outstanding after giving effect to the Existing Senior Notes Repurchase.

          “Participant” shall have the meaning provided in Section 3.04(a).

          “Participant Register” shall have the meaning provided in Section 13.16.

          “PATRIOT Act” shall have the meaning provided in Section 13.18.

          “Payment Office” shall mean the office of the Administrative Agent located at 60 Wall
Street, New York, New York 10005, Attention: Monica Tomasevich, Deal Administrator, 5022 Gate
Parkway, Suite 200, Jacksonville, FL 32256, Tel: (904)527-6567, or such other office as the
Administrative Agent may hereafter designate in writing as such to the other parties hereto.

          “PBGC” shall mean the Pension Benefit Guaranty Corporation established pursuant to
Section 4002 of ERISA, or any successor thereto.

          “Permitted Acquisition” shall mean the acquisition by the Borrower or any of its
Wholly-Owned Subsidiaries of assets constituting a business, division or product line of any Person
not already a Subsidiary of the Borrower or any of its Wholly-Owned Subsidiaries or of more than
50% of the Equity Interests of any such Person; provided that (A) those acquisitions that
are structured as stock acquisitions shall be effected through a purchase of more than 50% of the
Equity Interests of such Person by the Borrower or such Wholly-Owned Subsidiary or through a merger
between such Person and a Wholly-Owned Subsidiary of the Borrower, so that after giving effect to
such merger, more than 50% of the Equity Interests of the surviving corporation of such merger is
owned by the Borrower or a Wholly-Owned Subsidiary, (B) in the

24

 

case of the acquisition of more than 50% of the Equity Interests of any Person, such Person
(the “Acquired Person”) shall own no Equity Interests of any other Person unless the
Acquired Person owns 100% of the Equity Interests of such other Person or an Investment in such
other Person is otherwise permitted under Section 10.05, (C) substantially all of the business,
division or product line acquired pursuant to the Permitted Acquisition, or the business of the
Acquired Person and its Subsidiaries taken as a whole, is in the United States, unless (i) the fair
market value of the acquired business, division or product line, or portion thereof, located
outside the United States is less than $100,000,000 or (ii) substantially all of the assets of the
acquired business, division or product line are intangible assets associated with internet gaming,
(D) the assets acquired, or the business of the Acquired Person and its Subsidiaries, shall be in
(or after the acquisition will be used in) a business permitted to be conducted pursuant to Section
10.14 and (E) all applicable requirements of Section 9.13 applicable to Permitted Acquisitions are
satisfied. It is understood and agreed that, for purposes of this Agreement, (i) the Borrower, at
its option, may treat an acquisition the consideration for which is $20,000,000 or less as either a
Permitted Acquisition subject to Section 9.13 or a Capital Expenditure subject to Section 10.07 and
(ii) no expenditures treated as consideration for a Permitted Acquisition subject to Section 9.13
under this Agreement shall be included as Capital Expenditures subject to Section 10.07.

          “Permitted Encumbrance” shall mean, with respect to any Mortgaged Property, such
exceptions to title as are set forth in the title insurance policy or title commitment delivered
with respect thereto, all of which exceptions must be acceptable to the Administrative Agent in its
reasonable discretion.

          “Permitted First Lien Notes” shall mean secured Indebtedness incurred by the Borrower
and issued under an indenture or similar governing instrument in a registered public offering or a
Rule 144A or other private placement transaction or other transaction not subject to registration
under the Securities Act in the form of one or more series of first lien secured notes;
provided that (i) such Indebtedness may only be secured by Collateral on a first lien,
pari passu basis to the Obligations, and shall not be secured by any property or
assets of the Borrower or any of its Subsidiaries other than the Collateral, (ii) such Indebtedness
does not mature or have scheduled amortization or other required payments of principal prior to the
date that is one year after the latest Maturity Date of the Loans then outstanding hereunder at the
time such Indebtedness is incurred (other than customary offers to repurchase upon a change of
control, asset sale or casualty or condemnation event and customary acceleration rights after an
event of default), (iii) the security agreements relating to such Indebtedness are substantially
the same as the Security Documents (with such differences as are reasonably satisfactory to the
Administrative Agent), (iv) such Indebtedness is not guaranteed by any Person other than the Credit
Parties, (v) such Indebtedness and the indenture or other governing instrument applicable thereto
does not contain covenants, events of default, or other terms and conditions that, when taken as a
whole, are materially more restrictive to the Credit Parties than the terms of this Agreement (it
being understood that (A) interest rates, redemption or prepayment premiums and restrictions on
prepayment or redemption shall not be taken into account in determining whether terms are
materially more restrictive to the Credit Parties, (B) the limitations on indebtedness covenant
contained therein may take into account permanent repayments of Indebtedness which have occurred
after the Effective Date, (C) covenants, events of default or other terms and conditions that
correspond to, and when taken as a whole are not materially more restrictive to the Credit Parties
than, the terms of the Senior Notes will not be regarded as materially more

25

 

restrictive to the Credit Parties than the terms of this Agreement and (D) a certificate of an
Authorized Officer of the Borrower delivered to the Administrative Agent at least five Business
Days (or such shorter period as the Administrative Agent may reasonably agree) prior to the
incurrence of such Indebtedness, together with a reasonably detailed description of the material
terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating
that the Borrower has determined in good faith that such terms and conditions satisfy the foregoing
requirement shall be conclusive evidence that such terms and conditions satisfy the foregoing
requirement unless the Administrative Agent notifies the Borrower within two Business Days after
receipt of such certificate that it disagrees with such determination (including a reasonable
description of the basis upon which it disagrees)), and (vi) the holders of such Indebtedness
pursuant to the indenture or other instrument governing such Indebtedness (or a trustee, agent or
other representative on their behalf) shall have become party to a customary intercreditor
agreement with the Collateral Agent on terms reasonably satisfactory to the Collateral Agent and
the Administrative Agent.

          “Permitted Liens” shall have the meaning provided in Section 10.01.

          “Permitted Refinancing Indebtedness” shall mean, with respect to any Indebtedness of
the Borrower or any of its Subsidiaries, any Indebtedness of the Borrower or any of its
Subsidiaries issued or given in exchange for, or the proceeds of which are used to, extend,
refinance, renew, replace or refund such refinanced Indebtedness, so long as (a) such Indebtedness
has a Weighted Average Life to Maturity greater than or equal to the Weighted Average Life to
Maturity of the Indebtedness being extended, refinanced, renewed, replaced or refunded, (b) such
extension, refinancing, renewal, replacement or refunding does not (i) increase the amount of such
Indebtedness outstanding immediately prior to such extension, refinancing, renewal, replacement or
refunding plus an amount equal to the unpaid interest, premium or other payment thereon pursuant to
the terms thereof plus any other reasonable fees and expenses of the Borrower or any Subsidiary
incurred in connection with such extension, refinancing, renewal, replacement or refunding, unless
(for the avoidance of doubt) such increase is otherwise expressly permitted under a separate
subclause of Section 10.04 or (ii) add obligors or security from that which applied to such
Indebtedness being extended, refinanced, renewed, replaced or refunded, and (c) such Indebtedness
has subordination provisions, if any, at least as favorable to the Lenders as the subordination
provisions applicable to the Indebtedness being extended, renewed, refinanced, replaced or
refunded.

          “Permitted Second Lien Notes” shall mean secured Indebtedness incurred by the Borrower
and issued under an indenture or similar governing instrument in a registered public offering or a
Rule 144A or other private placement transaction or other transaction not subject to registration
under the Securities Act in the form of one or more series of second lien secured notes;
provided that (i) such Indebtedness may only be secured by Collateral on a second lien
basis, subordinated to the Liens securing the Obligations and any Permitted First Lien Notes, and
shall not be secured by any property or assets of the Borrower or any of its Subsidiaries other
than the Collateral, (ii) such Indebtedness does not mature or have scheduled amortization or other
required payments of principal prior to the date that is one year after the latest Maturity Date of
the Loans then outstanding at the time such Indebtedness is incurred (other than customary offers
to repurchase upon a change of control, asset sale or casualty or condemnation event and customary
acceleration rights after an event of default), (iii) the security agreements

26

 

relating to such Indebtedness are substantially the same as the Security Documents (with such
differences as are reasonably satisfactory to the Administrative Agent), (iv) such Indebtedness is
not guaranteed by any Person other than the Credit Parties, (v) such Indebtedness and the indenture
or other governing instrument applicable thereto does not contain covenants, events of default, or
other terms and conditions that, when taken as a whole, are materially more restrictive to the
Credit Parties than the terms of this Agreement (it being understood that (A) interest rates,
redemption or prepayment premiums and restrictions on prepayment or redemption shall not be taken
into account in determining whether terms are materially more restrictive to the Credit Parties,
(B) the limitations on indebtedness covenant contained therein may take into account permanent
repayments of Indebtedness which have occurred after the Effective Date, (C) covenants, events of
default or other terms and conditions that correspond to, and when taken as a whole are not
materially more restrictive to the Credit Parties than, the terms of the Senior Notes will not be
regarded as materially more restrictive to the Credit Parties than the terms of this Agreement and
(D) a certificate of an Authorized Officer of the Borrower delivered to the Administrative Agent at
least five Business Days (or such shorter period as the Administrative Agent may reasonably agree)
prior to the incurrence of such Indebtedness, together with a reasonably detailed description of
the material terms and conditions of such Indebtedness or drafts of the documentation relating
thereto, stating that the Borrower has determined in good faith that such terms and conditions
satisfy the foregoing requirement shall be conclusive evidence that such terms and conditions
satisfy the foregoing requirement unless the Administrative Agent notifies the Borrower within two
Business Days after receipt of such certificate that it disagrees with such determination
(including a reasonable description of the basis upon which it disagrees)), and (vi) the holders of
such Indebtedness pursuant to the indenture or other instrument governing such Indebtedness (or a
trustee, agent or other representative on their behalf) shall have become party to a customary
intercreditor agreement with the Collateral Agent on terms satisfactory to the Collateral Agent and
the Administrative Agent.

          “Permitted Unsecured Notes” shall mean senior unsecured or unsecured subordinated
Indebtedness incurred by the Borrower and issued under an indenture or similar governing instrument
in a registered public offering or a Rule 144A or other private placement transaction or other
transaction not subject to registration under the Securities Act in the form of one or more series
of senior unsecured or unsecured subordinated notes; provided that (i) such Indebtedness
does not mature or have scheduled amortization or other required payments of principal prior to the
date that is one year after the latest Maturity Date of the Loans then outstanding hereunder at
the time such Indebtedness is incurred (other than customary offers to repurchase upon a change of
control, asset sale or casualty or condemnation event and customary acceleration rights after an
event of default), (ii) such Indebtedness is not guaranteed by any Person other than the Credit
Parties, (iii) such Indebtedness and the indenture or other governing instrument applicable thereto
does not contain covenants, events of default, or other terms and conditions that, when taken as a
whole, are materially more restrictive to the Credit Parties than the terms of this Agreement (it
being understood that (A) interest rates, redemption or prepayment premiums and restrictions on
prepayment or redemption shall not be taken into account in determining whether terms are
materially more restrictive to the Credit Parties, (B) the limitations on indebtedness covenant
contained therein may take into account permanent repayments of Indebtedness which have occurred
after the Effective Date, (C) covenants, events of default or other terms and conditions that
correspond to, and when taken as a whole are not

27

 

materially more restrictive to the Credit Parties than, the terms of the Senior Notes will not
be regarded as materially more restrictive to the Credit Parties than the terms of this Agreement
and (D) a certificate of an Authorized Officer of the Borrower delivered to the Administrative
Agent at least five Business Days (or such shorter period as the Administrative Agent may
reasonably agree) prior to the incurrence of such Indebtedness, together with a reasonably detailed
description of the material terms and conditions of such Indebtedness or drafts of the
documentation relating thereto, stating that the Borrower has determined in good faith that such
terms and conditions satisfy the foregoing requirement shall be conclusive evidence that such terms
and conditions satisfy the foregoing requirement unless the Administrative Agent notifies the
Borrower within two Business Days after receipt of such certificate that it disagrees with such
determination (including a reasonable description of the basis upon which it disagrees)) and (iv)
such Indebtedness is not secured by any Lien on any property or assets of the Borrower or any of
its Subsidiaries.

          “Person” shall mean any individual, partnership, joint venture, firm, corporation,
association, limited liability company, trust or other enterprise or any government or political
subdivision or any agency, department or instrumentality thereof.

          “Plan” shall mean any multiemployer or single-employer plan, as defined in Section
4001 of ERISA, which is maintained or contributed to by (or to which there is an obligation to
contribute of), the Borrower or a Subsidiary of the Borrower or an ERISA Affiliate, and each such
plan with respect to which the Borrower, a Subsidiary of the Borrower or an ERISA Affiliate
maintained, contributed or had an obligation to contribute to and with respect to which any such
entity has any actual or contingent liability.

          “Pledge Agreement” shall have the meaning provided in Section 6.06.

          “Pledge Agreement Collateral” shall mean all “Collateral” as defined in the Pledge
Agreement.

          “Pledged Securities” shall mean “Pledged Securities” as defined in the Pledge
Agreement.

          “Post-Closing Entities” shall mean Cactus Pete’s, Inc., a Nevada corporation,
Ameristar Casino Vicksburg, Inc., a Mississippi corporation, Ameristar Casino Council Bluffs, Inc.,
an Iowa corporation, Ameristar Casino St. Charles, Inc., a Missouri corporation, and Ameristar
Casino Kansas City, Inc., a Missouri corporation.

          “Prime Lending Rate” shall mean the rate which the Administrative Agent announces from
time to time as its prime lending rate, the Prime Lending Rate to change when and as such prime
lending rate changes. The Prime Lending Rate is a reference rate and does not necessarily
represent the lowest or best rate actually charged to any customer. The Administrative Agent may
make commercial loans or other loans at rates of interest at, above or below the Prime Lending
Rate.

          “Pro Forma Basis” shall mean, in connection with any calculation of compliance with
any financial covenant or financial term, the calculation thereof
after giving effect on a pro
forma basis to (i) the assumption, incurrence or issuance of any Indebtedness incurred (or for

28

 

purposes of Section 2.15 the incurrence of any Incremental Term Loan or Incremental Revolving
Commitment) after the first day of the relevant Calculation Period as if such Indebtedness had been
assumed, incurred or issued (and the proceeds thereof applied) on the first day of the relevant
Calculation Period, (ii) the permanent repayment of any Indebtedness (other than such revolving
Indebtedness that may be reborrowed) after the first day of the relevant Calculation Period as if
such Indebtedness had been retired or repaid on the first day of the relevant Calculation Period,
(iii) any Significant Permitted Acquisition occurring after the first day of the relevant
Calculation Period as if such Significant Permitted Acquisition had been effected on the first day
of the respective Calculation Period, and (iv) the commencement of operations of any Substantial
Project occurring after the first day of the relevant Calculation Period, as if such Substantial
Project commenced on the first day of the respective Calculation Period (annualized on a
straight-line basis), with in each case any such calculation being made in good faith by a
responsible financial or accounting officer of the Borrower and which may include, for the
avoidance of doubt, the amount of cost savings and synergies projected by the Borrower in good
faith to be realized as a result of specified actions taken, committed to be taken or expected to
be taken (calculated on a pro forma basis as though such cost savings and synergies
had been realized on the first day of such Calculation Period and as if such cost savings and
synergies were realized during the entirety of such Calculation Period) relating to such specified
transaction, net of the amount of actual benefits realized during such Calculation Period from such
actions; provided that (A) such amounts are reasonably identifiable, quantifiable and
factually supportable in the good faith judgment of the Borrower, (B) such actions are taken,
committed to be taken or expected to be taken no later than twelve (12) months after the date of
such specified transaction and (C) no amounts shall be added to the extent duplicative of any
amounts that are otherwise added back in computing Consolidated EBITDA, whether through a
pro forma adjustment or otherwise, with respect to such period.

          “Projections” shall have the meaning provided in Section 8.05(d).

          “Qualified Person” shall mean, with respect to any Lender party to this Agreement on
the Initial Borrowing Date or that becomes a Lender pursuant to Section 2.13, 2.15, 13.04(b) or
13.04(c), any Eligible Transferee which shall not have been found unsuitable under the Gaming
Regulations of any, and which meets the requirements, if any, of all jurisdictions regulating the
Gaming Business of the Borrower and its Subsidiaries to the extent that the Borrower has so
notified the Lenders of such requirements of such jurisdictions pursuant to Section 13.04(e).

          “Quarterly Payment Date” shall mean the last Business Day of each March, June,
September and December occurring after the Initial Borrowing Date.

          “Quarterly Pricing Certificate” shall have the meaning provided in the definition of
Applicable Margin.

          “Real Property” of any Person shall mean all the right, title and interest of such
Person in and to land, improvements and fixtures, including Leaseholds.

          “Recovery Event” shall mean the receipt by the Borrower or any of its Subsidiaries of
any (i) cash insurance proceeds payable (x) by reason of theft, loss, physical

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destruction or damage or any other similar event with respect to any property or assets of the
Borrower or any of its Subsidiaries and (y) under any casualty policy of insurance required to be
maintained under Section 9.03 (excluding proceeds of business interruption insurance) or (ii)
condemnation award payable by reason of eminent domain or deed in lieu thereof (which, for the
avoidance of doubt, shall include any requisition, purchase or taking of the title or ownership of
any vessel by a Governmental Authority).

          “Refinancing” shall have the meaning provided in Section 6.05.

          “Refinancing Documents” shall mean all pay-off letters, guaranty releases, Lien
releases (including, without limitation, UCC termination statements) and other documents and
agreements entered into in connection with the Refinancing.

          “Register” shall have the meaning provided in Section 13.16.

          “Regulation D” shall mean Regulation D of the Board of Governors of the Federal
Reserve System as from time to time in effect and any successor to all or a portion thereof
establishing reserve requirements.

          “Regulation T” shall mean Regulation T of the Board of Governors of the Federal
Reserve System as from time to time in effect and any successor to all or a portion thereof.

          “Regulation U” shall mean Regulation U of the Board of Governors of the Federal
Reserve System as from time to time in effect and any successor to all or a portion thereof.

          “Regulation X” shall mean Regulation X of the Board of Governors of the Federal
Reserve System as from time to time in effect and any successor to all or a portion thereof.

          “Reinvestment Assets” shall mean any long-term productive assets to be employed in the
business of the Borrower and its Subsidiaries (or any Capital Expenditures in connection with
improvement of capital assets of the Borrower or any of its Subsidiaries) or capital stock of a
Person that becomes a Subsidiary Guarantor.

          “Reinvestment Election” shall have the meaning provided in Section 5.02(e).

          “Reinvestment Notice” shall mean a written notice signed by an Authorized Officer of
the Borrower stating that the Borrower, in good faith, intends and expects to use all or a
specified portion of the Net Asset Sale Proceeds of an Asset Sale to purchase, construct or
otherwise acquire Reinvestment Assets.

          “Release” shall mean any spilling, leaking, pumping, pouring, emitting, emptying,
discharging, injecting, escaping, leaching, dumping, disposing or migration into the environment.

          “Replaced Lender” shall have the meaning provided in Section 2.13.

          “Replacement Lender” shall have the meaning provided in Section 2.13.

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          “Reportable Event” shall mean an event described in Section 4043(c) of ERISA with
respect to a Plan that is subject to Title IV of ERISA other than those events as to which the
30-day notice period is waived.

          “Repricing Transaction” shall mean (1) the incurrence by the Borrower or any of its
Subsidiaries of any Indebtedness (including, without limitation, any new or additional term loans
under this Agreement, whether incurred directly or by way of the conversion of B Term Loans into a
new tranche of replacement term loans under this Agreement) that is broadly marketed or syndicated
to banks and other institutional investors in financings similar to the facilities provided for in
this Agreement (i) having an Effective Yield for the respective Type of such Indebtedness that is
less than the Effective Yield for B Term Loans of the respective Type (with the comparative
determinations to be made in the reasonable judgment of the Administrative Agent consistent with
generally accepted financial practices, after giving effect to, among other factors, margin,
upfront or similar fees or “original issue discount”, in each case, shared with all lenders or
holders of such Indebtedness or B Term Loans, as the case may be, but excluding the effect of any
arrangement, structuring, syndication or other fees payable in connection therewith that are not
shared with all lenders or holders of such Indebtedness or B Term Loans, as the case may be, and
without taking into account any fluctuations in Eurodollar or comparable rate) and (ii) the
proceeds of which are used to prepay (or, in the case of a conversion, deemed to prepay or
replace), in whole or in part, outstanding principal of B Term Loans or (2) any effective reduction
in the Applicable Margin for B Term Loans (e.g., by way of amendment, waiver or otherwise)
(with such determination to be made in the reasonable judgment of the Administrative Agent,
consistent with generally accepted financial practices). Any such determination by the
Administrative Agent as contemplated by preceding clauses (1) and (2) shall be conclusive and
binding on all Lenders holding B Term Loans.

          “Required Lenders” shall mean, at any time, Non-Defaulting Lenders the sum of whose
outstanding Term Loans and Revolving Loan Commitments at such time (or, after the termination
thereof, outstanding Revolving Loans and RL Percentages of (x) outstanding Swingline Loans at such
time and (y) Letter of Credit Outstandings at such time) represents at least a majority of the sum
of (i) all outstanding Term Loans of Non-Defaulting Lenders and (ii) the Total Revolving Loan
Commitment in effect at such time less the Revolving Loan Commitments of all Defaulting
Lenders at such time (or, after the termination thereof, the sum of then total outstanding
Revolving Loans of Non-Defaulting Lenders and the aggregate RL Percentages of all Non-Defaulting
Lenders of the total outstanding Swingline Loans and Letter of Credit Outstandings at such time).

          “Restricted Cash” shall mean cash or Cash Equivalents of the Borrower or any of its
Subsidiaries that (i) appears as “Restricted Cash” on the consolidated balance sheet of the
Borrower (unless such appearance is related to the Credit Documents or Liens created thereunder) or
(ii) is subject to any Lien in favor of any Person other than the Collateral Agent for the benefit
of the Secured Creditors, the holders of the Permitted First Lien Notes (or any trustee or
collateral agent with respect to such Permitted First Lien Notes), the holders of the Permitted
Second Lien Notes (or any trustee or collateral agent with respect to such Permitted Second Lien
Notes) and the holders of any Permitted Refinancing Indebtedness with respect

31

 

thereto (or any trustee or collateral agent with respect to such Permitted Refinancing
Indebtedness).

          “Restricted Payment Basket Amount” shall have the meaning provided in Schedule 10.03.

          “Returns” shall have the meaning provided in Section 8.09.

          “Revolving Commitment Increase” shall have the meaning provided in Section 2.15(a).

          “Revolving Commitment Increase Lender” shall have the meaning provided in Section
2.15(e).

          “Revolving Loan” shall have the meaning provided in Section 2.01(c).

          “Revolving Loan Commitment” shall mean, for each Lender, the amount set forth opposite
such Lender’s name in Schedule 2.01 directly below the column entitled “Revolving Loan Commitment,”
as same may be (x) reduced from time to time or terminated pursuant to Sections 4.02, 4.03 and/or
11, as applicable, or (y) adjusted from time to time as a result of assignments to or from such
Lender pursuant to Section 2.13 or 13.04(b).

          “Revolving Loan Maturity Date” shall mean the fifth anniversary of the Initial
Borrowing Date.

          “Revolving Note” shall have the meaning provided in Section 2.05(a).

          “Revolving Obligations” means (i) all Revolving Loans, Swingline Loans, Letters of
Credit (including Letter of Credit Outstandings) and the Revolving Loan Commitments and (ii) all
Obligations relating to the Indebtedness and Commitments described in preceding clause (i).

          “RL Lender” shall mean each Lender with a Revolving Loan Commitment or with
outstanding Revolving Loans (or participations in other Revolving Obligations).

          “RL Percentage” of any RL Lender at any time shall mean a fraction (expressed as a
percentage) the numerator of which is the Revolving Loan Commitment of such RL Lender at such time
and the denominator of which is the Total Revolving Loan Commitment at such time; provided
that (x) if the RL Percentage of any RL Lender is to be determined after the Total Revolving Loan
Commitment has been terminated, then the RL Percentages of such RL Lender shall be determined
immediately prior (and without giving effect) to such termination (but giving effect to assignments
made thereafter in accordance with the terms hereof) and (y) in the case of Section 2.14 when a
Defaulting Lender shall exist, “RL Percentage” shall mean the percentage of the Total Revolving
Loan Commitments (disregarding any Defaulting Lender’s Revolving Loan Commitment) represented by
such Lender’s Revolving Loan Commitment.

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          “S&P” shall mean Standard & Poor’s Rating Services, a division of the McGraw-Hill
Companies, Inc., and its successors.

          “Scheduled A Term Loan Repayment” shall have the meaning provided in Section 5.02(b).

          “Scheduled B Term Loan Repayment” shall have the meaning provided in Section 5.02(c).

          “Scheduled Repayment” shall mean each Scheduled A Term Loan Repayment and/or each
Scheduled B Term Loan Repayment, as the context may require.

          “SEC” shall mean the Securities and Exchange Commission or any successor thereto.

          “Section 5.04(b)(ii) Certificate” shall have the meaning provided in Section 5.04(b).

          “Secured Creditors” shall have the meaning assigned that term in the Security
Documents.

          “Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder.

          “Security Agreement” shall have the meaning provided in Section 6.07 and include any
Additional Security Document delivered pursuant to Section 9.11.

          “Security Agreement Collateral” shall mean all “Collateral” as defined in the Security
Agreement.

          “Security Document” shall mean and include the Pledge Agreement, the Security
Agreement, each Mortgage, each Ship Mortgage and, after the execution and delivery thereof, each
Additional Mortgage, each Additional Ship Mortgage, each Additional Security Document required to
be delivered pursuant to Section 8.11 and each intercreditor agreement executed and delivered
pursuant to the definition of Permitted First Lien Notes and the definition of Permitted Second
Lien Notes; provided, that cash collateral or other agreements entered into pursuant to the
Letter of Credit Back-Stop Arrangements shall constitute “Security Documents” solely for purposes
of (x) Sections 10.01(v) and 12 and (y) the term “Credit Documents” as used in Sections 10.04(i)
and 12.

          “Senior Notes” shall mean the Borrower’s 7.50% senior unsecured notes due 2021 in an
aggregate principal amount of $800,000,000 issued pursuant to the Senior Notes Documents.

          “Senior Notes Documents” shall mean and include the documentation related to the
Senior Notes, in each case as may be amended, modified, or supplemented pursuant to the terms
hereof and thereof.

33

 

          “Senior Secured Net Leverage Ratio” shall mean the ratio of (a) Total Consolidated Net
Debt on the last day of the applicable Test Period (minus any portion of such Total
Consolidated Net Debt that is (x) secured by a Lien junior to the Lien securing the Obligations in
a manner reasonably acceptable to the Administrative Agent or (y) unsecured) to (b) Consolidated
EBITDA for the applicable Test Period; provided that all calculations of the Senior Secured
Net Leverage Ratio shall be made on a Pro Forma Basis.

          “Ship Mortgage” shall have the meaning provided in Section 6.10 and, after the
execution and delivery thereof, shall include each Additional Ship Mortgage delivered pursuant to
Section 9.11.

          “Ship Property” shall mean each of the vessels listed on Schedule 6.10 on which the
casino businesses and related activities of the respective Subsidiaries of the Borrower are
conducted.

          “Significant Permitted Acquisition” shall mean a Permitted Acquisition with respect to
which the Maximum Permitted Consideration is more than $20,000,000.

          “Specified Casino Properties” shall mean the properties of the Borrower’s Subsidiaries
known as “Ameristar Vicksburg”, “Ameristar Council Bluffs”, “Ameristar St. Charles”, “Ameristar
Kansas City”, “Cactus Petes and The Horseshu”, “Ameristar East Chicago” and “Ameristar Black Hawk”.

          “Specified Indebtedness” shall mean any Permitted Unsecured Notes incurred under
Section 10.04 and any Permitted Refinancing Indebtedness incurred in connection with the foregoing,
in each case having an aggregate outstanding principal amount exceeding $50,000,000 and
subordinated to the Obligations.

          “Start Date” shall have the meaning provided in the definition of Applicable Margin.

          “Stated Amount” of each Letter of Credit shall, at any time, mean the maximum amount
available to be drawn thereunder (in each case determined without regard to whether any conditions
to drawing could then be met).

          “Stock Repurchase” shall mean the Borrower’s repurchase of its Equity Interests from
the Neilsen Family Group for an aggregate amount not to exceed $458,000,000 pursuant to the Stock
Repurchase Documents.

          “Stock Repurchase Documents” shall mean the Stock Purchase Agreement dated as of March
25, 2011 and all other documentation relating to the Stock Repurchase, in each case as may be
amended, modified or supplemented pursuant to the terms hereof and thereof.

          “Subsidiary” shall mean, as to any Person, (i) any corporation more than 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 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 owned by such Person and/or one or more

34

 

Subsidiaries of such Person and (ii) any partnership, association, joint venture or other
entity in which such Person and/or one or more Subsidiaries of such Person has more than a 50%
Equity Interest at the time.

          “Subsidiary Guarantor” shall mean each Domestic Subsidiary of the Borrower that is a
Material Subsidiary in existence on the Initial Borrowing Date, as well as each Domestic Subsidiary
of the Borrower that is a Material Subsidiary established, created or acquired after the Initial
Borrowing Date which becomes a party to the Subsidiary Guaranty in accordance with the requirements
of this Agreement or the provisions of the Subsidiary Guaranty.

          “Subsidiary Guaranty” shall have the meaning provided in Section 6.09.

          “Substantial Project” shall mean each capital project commencing after the Effective
Date for which the overall amount expended for Capital Expenditures exceeds $20,000,000.

          “Substitute Lender” shall have the meaning provided in Section 13.04(c).

          “Swingline Expiry Date” shall mean that date which is five Business Days prior to the
Revolving Loan Maturity Date.

          “Swingline Lender” shall mean DBTCA, in its capacity as Swingline Lender hereunder.

          “Swingline Loan” shall have the meaning provided in Section 2.01(d).

          “Swingline Loan Exposure” shall mean, at any time, the aggregate principal amount of
all Swingline Loans outstanding at such time. The Swingline Loan Exposure of any RL Lender at any
time shall be its RL Percentage of the aggregate Swingline Loan Exposure at such time.

          “Swingline Note” shall have the meaning provided in Section 2.05(a).

          “Syndication Agents” shall mean Wells Fargo Bank, National Association, Bank of
America, N.A. and JPMorgan Chase Bank, N.A.

          “Syndication Termination Date” shall mean the date which is the earlier of (i) the
90th day after the Effective Date or (ii) the date on which the Joint Lead Arrangers, in
their discretion, determine (and notify the Borrower) that the primary syndication (and the
resultant addition of institutions as Lenders pursuant to Section 13.04) has been completed.

          “Synthetic Lease” shall mean, as applied to any Person, any lease (including leases
that may be terminated by the lessee at any time) of any property (whether real, personal or mixed)
(x) that is not a capital lease in accordance with GAAP and (y) in respect of which the lessee
retains or obtains ownership of the property so leased for federal income tax purposes, other than
any such lease under which that Person is the lessor.

          “Tax Benefit” shall have the meaning provided in Section 5.04(c).

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          “Taxes” shall have the meaning provided in Section 5.04(a).

          “Tender Offer Consent Solicitation” shall mean a tender offer and consent solicitation
commenced by the Borrower prior to the Effective Date with respect to the Existing Senior Notes,
pursuant to which the Borrower shall (x) offer to purchase for cash any and all of the Outstanding
Existing Senior Notes, subject to the satisfaction of the Minimum Condition, and (y) solicit
consents to the Existing Senior Notes Indenture Amendment.

          “Tendered Existing Senior Notes” shall mean all of the Existing Senior Notes validly
tendered and not withdrawn pursuant to the Tender Offer Consent Solicitation.

          “Term Loan” shall mean each A Term Loan, each B Term Loan and, on and after the
incurrence thereof, each Incremental Term Loan.

          “Term Loan Tranche” shall mean a Tranche of Term Loans (i.e. the A Term Loans,
B Term Loans or any Incremental Term Loans).

          “Test Period” shall mean four consecutive fiscal quarters (taken as one accounting
period).

          “Total Commitment” shall mean, at any time, the sum of the Commitments of each of the
Lenders at such time.

          “Total Consolidated Net Debt” shall mean, as of any date of determination, (a)
Consolidated Indebtedness of the Borrower and its Consolidated Subsidiaries minus (b) up to
$100,000,000 of cash and Cash Equivalents (which for the avoidance of doubt does not include
Restricted Cash but does include “cage cash”) of the Borrower and its Consolidated Subsidiaries,
included on the consolidated balance sheet of the Borrower and its Consolidated Subsidiaries as of
such date.

          “Total Net Leverage Ratio” shall mean the ratio of (a) Total Consolidated Net Debt on
the last day of the applicable Test Period to (b) Consolidated EBITDA for the applicable Test
Period; provided that all calculations of the Total Net Leverage Ratio shall be made on a
Pro Forma Basis.

          “Total Revolving Loan Commitment” shall mean, at any time, the sum of the Revolving
Loan Commitments of each of the Lenders at such time.

          “Total Unutilized Revolving Loan Commitment” shall mean, at any time, an amount equal
to the remainder of (x) the Total Revolving Loan Commitment in effect at such time less (y)
the sum of (i) the aggregate principal amount of all Revolving Loans and Swingline Loans
outstanding at such time plus (ii) the aggregate amount of all Letter of Credit
Outstandings at such time.

          “Tranche” shall mean the respective facility and commitments utilized in making Loans
hereunder, with there being initially four separate Tranches, i.e., A Term Loans, B Term
Loans, Revolving Loans and Swingline Loans; provided that for purposes of Sections 2.13,
13.04(b), 13.12(a) and (b) and the definition of “Majority Lenders”, Revolving Loans and

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Swingline Loans shall be deemed to constitute part of a single “Tranche”. In addition, any
Incremental Term Loans, Extended Revolving Commitments and/or Extended Term Loans may be made
pursuant to one or more new Tranches in accordance with the requirements specified in Section 2.15
or Section 2.16, as applicable.

          “Transaction” shall mean, collectively, the Refinancing, the Existing Senior Notes
Repurchase, the Existing Senior Notes Indenture Amendment, the Stock Repurchase and the incurrence
of Loans on the Initial Borrowing Date.

          “Type” shall mean the type of Loan determined with regard to the interest option
applicable thereto, i.e., whether a Base Rate Loan or a Eurodollar Loan.

          “UCC” shall mean the Uniform Commercial Code as from time to time in effect in the
relevant jurisdiction.

          “Unfunded Current Liability” of any Plan shall mean the amount, if any, by which the
value of the accumulated plan benefits under the Plan, determined on a plan termination basis in
accordance with actuarial assumptions at such time consistent with those prescribed by the PBGC for
purposes of Section 4044 of ERISA, exceeds the fair market value of all plan assets allocable to
such liabilities under Title IV of ERISA (excluding any accrued but unpaid contributions).

          “United States” and “U.S.” shall each mean the United States of America.

          “Unpaid Drawing” shall have the meaning provided in Section 3.05(a).

          “Unutilized Revolving Loan Commitment” shall mean, with respect to any Lender at any
time, such Lender’s Revolving Loan Commitment at such time less the sum of (i) the
aggregate outstanding principal amount of all Revolving Loans made by such Lender at such time and
(ii) such Lender’s RL Percentage of the Letter of Credit Outstandings at such time.

          “Voting Stock” shall mean, as to any Person, any class or classes of capital stock of
such Person pursuant to which the holders thereof have the general voting power under ordinary
circumstances to vote for the election of the board of directors of such Person, or any class or
classes of capital stock convertible into or exchangeable for such stock at the option of the
holders thereof.

          “Waivable Repayment” shall have the meaning provided in Section 5.02(j).

          “Weighted Average Life to Maturity” shall mean, when applied to any Indebtedness at
any date, the number of years obtained by dividing: (i) the sum of the products obtained by
multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or
other required payments of principal, including payment at final maturity, in respect thereof, by
(b) the number of years (calculated to the nearest one-twelfth) that will elapse between such date
and the making of such payment; by (ii) the then outstanding principal amount of such Indebtedness.

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          “Wholly-Owned Domestic Subsidiary” shall mean each Wholly-Owned Subsidiary of the
Borrower incorporated or organized under the laws of the United States or any State thereof.

          “Wholly-Owned Subsidiary” shall mean, as to any Person, (i) any corporation 100% of
whose capital stock (other than director’s qualifying shares) is at the time owned by such Person
and/or one or more Wholly-Owned Subsidiaries of such Person and (ii) any partnership, association,
joint venture or other entity in which such Person and/or one or more Wholly-Owned Subsidiaries of
such Person has a 100% Equity Interest at such time. Any reference to a Wholly-Owned Subsidiary,
unless expressly to a Wholly-Owned Subsidiary of another Person, shall mean a Wholly-Owned
Subsidiary of the Borrower.

          “Withdrawal Period” shall have the meaning provided in Section 13.04(d).

          “Yield Differential” shall have the meaning provided in Section 2.15(b).

          SECTION 2. Amount and Terms of Credit.

          2.01 The Commitments. (a) Subject to and upon the terms and conditions set forth herein,
each Lender with an A Term Loan Commitment severally agrees to make a term loan or term loans
(each, an “A Term Loan” and, collectively, the “A Term Loans”) to the Borrower,
which A Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing
Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the
option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or
Eurodollar Loans; provided that except as otherwise specifically provided in Section
2.10(b), all A Term Loans comprising the same Borrowing shall at all times be of the same Type and
(iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the
A Term Loan Commitment of such Lender on the Initial Borrowing Date. Once repaid, A Term Loans
incurred hereunder may not be reborrowed.

          (b) Subject to and upon the terms and conditions set forth herein, each Lender with a B Term
Loan Commitment severally agrees to make a term loan or term loans (each, a “B Term Loan”
and, collectively, the “B Term Loans”) to the Borrower, which B Term Loans (i) shall be
incurred pursuant to a single drawing on the Initial Borrowing Date, (ii) shall be denominated in
Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred
and maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans, provided
that except as otherwise specifically provided in Section 2.10(b), all B Term Loans comprising the
same Borrowing shall at all times be of the same Type, and (iv) shall be made by each such Lender
in that aggregate principal amount which does not exceed the B Term Loan Commitment of such Lender
on the Initial Borrowing Date. Once repaid, B Term Loans incurred hereunder may not be reborrowed.

          (c) Subject to and upon the terms and conditions set forth herein, each Lender with a
Revolving Loan Commitment severally agrees to make, at any time and from time to time
on or after the Initial Borrowing Date and prior to the Revolving Loan Maturity Date, a
revolving loan or revolving loans (each, a “Revolving Loan” and, collectively, the
“Revolving Loans”) to the Borrower, which Revolving Loans (i) shall be denominated in
Dollars, (ii) shall,

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at the option of the Borrower, be incurred and maintained as, and/or converted
into, Base Rate Loans or Eurodollar Loans; provided that except as otherwise specifically
provided in Section 2.10(b), all Revolving Loans comprising the same Borrowing shall at all times
be of the same Type, (iii) may be repaid and reborrowed in accordance with the provisions hereof,
and (iv) shall not exceed for any such Lender at any time outstanding that aggregate principal
amount which, when added to the product of (x) such Lender’s RL Percentage and (y) the sum of (I)
the aggregate amount of all Letter of Credit Outstandings (exclusive of Unpaid Drawings which are
repaid with the proceeds of, and simultaneously with the incurrence of, the respective incurrence
of Revolving Loans) at such time and (II) the aggregate principal amount of all Swingline Loans
(exclusive of Swingline Loans which are repaid with the proceeds of, and simultaneously with the
incurrence of, the respective incurrence of Revolving Loans) then outstanding, equals the Revolving
Loan Commitment of such Lender at such time.

          (d) Subject to and upon the terms and conditions set forth herein, the Swingline Lender agrees
to make, at any time and from time to time on or after the Initial Borrowing Date and prior to the
Swingline Expiry Date, a revolving loan or revolving loans (each, a “Swingline Loan” and,
collectively, the “Swingline Loans”) to the Borrower, which Swingline Loans (i) shall be
incurred and maintained as Base Rate Loans, (ii) shall be denominated in Dollars, (iii) may be
repaid and reborrowed in accordance with the provisions hereof, (iv) shall not exceed in aggregate
principal amount at any time outstanding, when combined with the aggregate principal amount of all
Revolving Loans then outstanding and the aggregate amount of all Letter of Credit Outstandings at
such time, an amount equal to the Total Revolving Loan Commitment at such time, and (v) shall not
exceed in aggregate principal amount at any time outstanding the Maximum Swingline Amount.
Notwithstanding anything to the contrary contained in this Section 2.01(d), the Swingline Lender
shall not make any Swingline Loan after it has received written notice from the Borrower, any other
Credit Party or the Required Lenders stating that a Default or an Event of Default exists and is
continuing until such time as the Swingline Lender shall have received written notice (A) of
rescission of all such notices from the party or parties originally delivering such notice or
notices or (B) of the waiver of such Default or Event of Default by the Required Lenders.

          (e) On any Business Day, the Swingline Lender may, in its sole discretion, give notice to the
RL Lenders that the Swingline Lender’s outstanding Swingline Loans shall be funded with one or more
Borrowings of Revolving Loans (provided that such notice shall be deemed to have been
automatically given upon the occurrence of a Default or an Event of Default under Section 11.05 or
upon the exercise of any of the remedies provided in the last paragraph of Section 11), in which
case one or more Borrowings of Revolving Loans constituting Base Rate Loans (each such Borrowing, a
“Mandatory Borrowing”) shall be made on the immediately succeeding Business Day by all RL
Lenders pro rata based on each such RL Lender’s RL Percentage (determined before
giving effect to any termination of the Revolving Loan Commitments pursuant to the last paragraph
of Section 11) and the proceeds thereof shall be applied directly by the Swingline Lender to repay
the Swingline Lender for such outstanding Swingline Loans. Each RL Lender hereby irrevocably
agrees to make Revolving Loans upon one Business Day’s notice pursuant to each Mandatory Borrowing
in the amount and in the
manner specified in the preceding sentence and on the date specified in writing by the
Swingline Lender notwithstanding (i) the amount of the Mandatory Borrowing may not comply with the
Minimum Borrowing Amount otherwise required hereunder, (ii) whether any conditions

39

 

specified in
Section 7 are then satisfied, (iii) whether a Default or an Event of Default then exists, (iv) the
date of such Mandatory Borrowing, and (v) the amount of the Total Revolving Loan Commitment at such
time. In the event that any Mandatory Borrowing cannot for any reason be made on the date
otherwise required above (including, without limitation, as a result of the commencement of a
proceeding under the Bankruptcy Code with respect to the Borrower), then each RL Lender hereby
agrees that it shall forthwith purchase (as of the date the Mandatory Borrowing would otherwise
have occurred, but adjusted for any payments received from the Borrower on or after such date and
prior to such purchase) from the Swingline Lender such participations in the outstanding Swingline
Loans as shall be necessary to cause the RL Lenders to share in such Swingline Loans ratably based
upon their respective RL Percentages (determined before giving effect to any termination of the
Revolving Loan Commitments pursuant to the last paragraph of Section 11); provided that (x)
all interest payable on the Swingline Loans shall be for the account of the Swingline Lender until
the date as of which the respective participation is required to be purchased and, to the extent
attributable to the purchased participation, shall be payable to the participant from and after
such date and (y) at the time any purchase of participations pursuant to this sentence is actually
made, the purchasing RL Lender shall be required to pay the Swingline Lender interest on the
principal amount of participation purchased for each day from and including the day upon which the
Mandatory Borrowing would otherwise have occurred to but excluding the date of payment for such
participation, at the overnight Federal Funds Rate for the first three days and at the interest
rate otherwise applicable to Revolving Loans maintained as Base Rate Loans hereunder for each day
thereafter.

          (f) If the Maturity Date shall have occurred in respect of any Tranche of Revolving Loan
Commitments at a time when another Tranche or Tranches of Revolving Loan Commitments is or are in
effect with a longer Maturity Date, then on the earliest occurring Maturity Date all then
outstanding Swingline Loans shall be repaid in full on such date (and there shall be no adjustment
to the participations in such Swingline Loans as a result of the occurrence of such Maturity Date);
provided, however, that if on the occurrence of such earliest Maturity Date (after
giving effect to any repayments of Revolving Loans and any reallocation of Letter of Credit
participations as contemplated in Section 3.04), there shall exist sufficient unutilized Extended
Revolving Commitments so that the respective outstanding Swingline Loans could be incurred pursuant
to the Extended Revolving Commitments which will remain in effect after the occurrence of such
Maturity Date, then there shall be an automatic adjustment on such date of the participations in
such Swingline Loans and same shall be deemed to have been incurred solely pursuant to the relevant
Extended Revolving Commitments, and such Swingline Loans shall not be so required to be repaid in
full on such earliest maturity date.

          2.02 Minimum Amount of Each Borrowing. The aggregate principal amount of each
Borrowing of Loans under a respective Tranche shall not be less than the Minimum Borrowing Amount
applicable to such Tranche. More than one Borrowing may occur on the same date, but at no time
shall there be outstanding more than (x) ten Borrowings of Eurodollar Loans under any one Tranche
in the case of
Revolving Loans and (y) four Borrowings of Eurodollar Loans under any one Tranche in the case
of Term Loans.

          2.03 Notice of Borrowing. (a) Whenever the Borrower desires to incur (x) Eurodollar Loans
hereunder, the Borrower shall give the Administrative Agent at the Notice

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Office at least three
Business Days’ prior notice of each Eurodollar Loan to be incurred hereunder and (y) Base Rate
Loans hereunder (excluding Swingline Loans and Revolving Loans made pursuant to a Mandatory
Borrowing), the Borrower shall give the Administrative Agent at the Notice Office at least one
Business Day’s prior notice of each Base Rate Loan to be incurred hereunder; provided that
(in each case) any such notice shall be deemed to have been given on a certain day only if given
before 12:00 Noon (New York City time) on such day. Each such notice (each, a “Notice of
Borrowing”), except as otherwise expressly provided in Section 2.10, shall be irrevocable and
shall be in writing, or by telephone promptly confirmed in writing, in the form of Exhibit A-1,
appropriately completed to specify: (i) the aggregate principal amount of the Loans to be incurred
pursuant to such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii)
whether the Loans being incurred pursuant to such Borrowing shall constitute A Term Loans, B Term
Loans or Revolving Loans and (iv) whether the Loans being incurred pursuant to such Borrowing are
to be initially maintained as Base Rate Loans or, to the extent permitted hereunder, Eurodollar
Loans and, if Eurodollar Loans, the initial Interest Period to be applicable thereto. The
Administrative Agent shall promptly give each Lender which is required to make Loans of the Tranche
specified in the respective Notice of Borrowing, notice of such proposed Borrowing, of such
Lender’s proportionate share thereof and of the other matters required by the immediately preceding
sentence to be specified in the Notice of Borrowing.

          (b) (i) Whenever the Borrower desires to incur Swingline Loans hereunder, the Borrower shall
give the Swingline Lender no later than 1:00 P.M. (New York City time) on the date that a Swingline
Loan is to be incurred, written notice or telephonic notice promptly confirmed in writing of each
Swingline Loan to be incurred hereunder. Each such notice shall be irrevocable and specify in each
case (A) the date of Borrowing (which shall be a Business Day), and (B) the aggregate principal
amount of the Swingline Loans to be incurred pursuant to such Borrowing.

          (ii) Mandatory Borrowings shall be made upon the notice specified in Section 2.01(e), with the
Borrower irrevocably agreeing, by its incurrence of any Swingline Loan, to the making of the
Mandatory Borrowings as set forth in Section 2.01(e).

          (c) Without in any way limiting the obligation of the Borrower to confirm in writing any
telephonic notice of any Borrowing or prepayment of Loans, the Administrative Agent or the
Swingline Lender, as the case may be, may act without liability upon the basis of telephonic notice
of such Borrowing or prepayment, as the case may be, believed by the Administrative Agent or the
Swingline Lender, as the case may be, in good faith to be from an Authorized Officer of the
Borrower, prior to receipt of written confirmation. In each such case, the Borrower hereby waives
the right to dispute the Administrative Agent’s or the Swingline Lender’s record of the terms of
such telephonic notice of such Borrowing or prepayment of Loans, as the case may be, absent
manifest error.

          2.04 Disbursement of Funds. No later than 12:00 Noon (New York City time) on the date
specified in each Notice of Borrowing (or (x) in the case of Swingline Loans, no later than 4:00
P.M. (New York City time) on the date specified pursuant to Section 2.03(b)(i) or (y) in the case
of Mandatory Borrowings, no later than 1:00 P.M. (New York City time) on the date specified in
Section 2.01(e)), each Lender with a Commitment of the respective Tranche

41

 

will make available its
pro rata portion (determined in accordance with Section 2.07) of each such
Borrowing requested to be made on such date (or in the case of Swingline Loans, the Swingline
Lender will make available the full amount thereof). All such amounts will be made available in
Dollars and in immediately available funds at the Payment Office, and the Administrative Agent
will, except in the case of Revolving Loans made pursuant to a Mandatory Borrowing, make available
to the Borrower at the Payment Office, or to such other account as the Borrower may specify in
writing prior to or after the Initial Borrowing Date, the aggregate of the amounts so made
available by the Lenders; provided that, if, on the date of a Borrowing of Revolving Loans
(other than a Mandatory Borrowing), there are Unpaid Drawings or Swingline Loans then outstanding,
then the proceeds of such Borrowing shall be applied, first, to the payment in full of any
such Unpaid Drawings with respect to Letters of Credit, second, to the payment in full of
any such Swingline Loans, and third, to the Borrower as otherwise provided above. Unless
the Administrative Agent shall have been notified by any Lender prior to the date of Borrowing that
such Lender does not intend to make available to the Administrative Agent such Lender’s portion of
any Borrowing to be made on such date, the Administrative Agent may assume that such Lender has
made such amount available to the Administrative Agent on such date of Borrowing and the
Administrative Agent may (but shall not be obligated to), in reliance upon such assumption, make
available to the Borrower a corresponding amount. If such corresponding amount is not in fact made
available to the Administrative Agent by such Lender, the Administrative Agent shall be entitled to
recover such corresponding amount on demand from such Lender. If such Lender does not pay such
corresponding amount forthwith upon the Administrative Agent’s demand therefor, the Administrative
Agent shall promptly notify the Borrower and the Borrower shall immediately pay such corresponding
amount to the Administrative Agent. The Administrative Agent also shall be entitled to recover on
demand from such Lender or the Borrower, as the case may be, interest on such corresponding amount
in respect of each day from the date such corresponding amount was made available by the
Administrative Agent to the Borrower until the date such corresponding amount is recovered by the
Administrative Agent, at a rate per annum equal to (i) if recovered from such Lender, the overnight
Federal Funds Rate for the first three days and at the interest rate otherwise applicable to such
Loans for each day thereafter and (ii) if recovered from the Borrower, the rate of interest
applicable to the respective Borrowing, as determined pursuant to Section 2.08. Nothing in this
Section 2.04 shall be deemed to relieve any Lender from its obligation to make Loans hereunder or
to prejudice any rights which the Borrower may have against any Lender as a result of any failure
by such Lender to make Loans hereunder.

          2.05 Notes. (a) The Borrower’s obligation to pay the principal of, and interest on, the
Loans made by each Lender shall be evidenced in the Register maintained by the Administrative Agent
pursuant to Section 13.16 and shall, if requested by such Lender, also be evidenced (i) in the case
of A Term Loans, by a promissory note duly executed and delivered by the Borrower substantially in
the
form of Exhibit B-1, with blanks appropriately completed in conformity herewith (each, an “A
Term Note” and, collectively, the “A Term Notes”), (ii) in the case of B Term Loans, by
a promissory note duly executed and delivered by the Borrower substantially in the form of Exhibit
B-2, with blanks appropriately completed in conformity herewith (each, a “B Term Note” and,
collectively, the “B Term Notes”), (iii) in the case of Revolving Loans, by a promissory
note duly executed and delivered by the Borrower substantially in the form of Exhibit B-3, with
blanks appropriately completed in conformity herewith (each, a “Revolving Note” and,
collectively, the “Revolving Notes”), and (iv) in the

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case of Swingline Loans, by a
promissory note duly executed and delivered by the Borrower substantially in the form of Exhibit
B-4, with blanks appropriately completed in conformity herewith (the “Swingline Note”).

          (b) Each Lender will note on its internal records the amount of each Loan made by it and each
payment in respect thereof and prior to any transfer of any of its Notes will endorse on the
reverse side thereof the outstanding principal amount of Loans evidenced thereby. Failure to make
any such notation or any error in such notation shall not affect the Borrower’s obligations in
respect of such Loans.

          (c) Notwithstanding anything to the contrary contained above in this Section 2.05 or elsewhere
in this Agreement, Notes shall only be delivered to Lenders which at any time specifically request
the delivery of such Notes. No failure of any Lender to request or obtain a Note evidencing its
Loans to the Borrower shall affect or in any manner impair the obligations of the Borrower to pay
the Loans (and all related Obligations) incurred by the Borrower which would otherwise be evidenced
thereby in accordance with the requirements of this Agreement, and shall not in any way affect the
security or guaranties therefor provided pursuant to the various Credit Documents. Any Lender
which does not have a Note evidencing its outstanding Loans shall in no event be required to make
the notations otherwise described in preceding clause (b). At any time when any Lender requests
the delivery of a Note to evidence any of its Loans, the Borrower shall promptly execute and
deliver to the respective Lender the requested Note in the appropriate amount or amounts to
evidence such Loans.

          2.06 Conversions. The Borrower shall have the option to convert, on any Business Day,
all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount
of Loans (other than Swingline Loans which may not be converted pursuant to this Section 2.06) made
pursuant to one or more Borrowings (so long as of the same Tranche) of one or more Types of Loans
into a Borrowing (of the same Tranche) of another Type of Loan; provided that, (i) except
as otherwise provided in Section 2.10(b), Eurodollar Loans may be converted into Base Rate Loans
only on the last day of an Interest Period applicable to the Loans being converted and no such
partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of such
Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount
applicable thereto, (ii) unless the Required Lenders otherwise agree, Base Rate Loans may only be
converted into Eurodollar Loans if no Event of Default is in existence on the date of the
conversion, and (iii) no conversion pursuant to this Section 2.06 shall result in a greater number
of Borrowings of Eurodollar Loans than is permitted under Section 2.02. Each such conversion shall
be effected by the Borrower by giving the Administrative
Agent at the Notice Office prior to 12:00 Noon (New York City time) at least (x) in the case
of conversions of Base Rate Loans into Eurodollar Loans, three Business Days’ prior notice and (y)
in the case of conversions of Eurodollar Loans into Base Rate Loans, one Business Day’s prior
notice (each, a “Notice of Conversion/Continuation”), in each case in the form of Exhibit
A-2, appropriately completed to specify the Loans to be so converted, the Borrowing or Borrowings
pursuant to which such Loans were incurred and, if to be converted into Eurodollar Loans, the
Interest Period to be initially applicable thereto. The Administrative Agent shall give each
Lender prompt notice of any such proposed conversion affecting any of its Loans.

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          2.07 Pro Rata Borrowings. All Borrowings of A Term Loans, B Term Loans and
Revolving Loans under this Agreement shall be incurred from the Lenders pro rata on
the basis of their A Term Loan Commitments, B Term Loan Commitments or Revolving Loan Commitments,
as the case may be; provided that all Mandatory Borrowings shall be incurred from the RL
Lenders pro rata on the basis of their RL Percentages. It is understood that no
Lender shall be responsible for any default by any other Lender of its obligation to make Loans
hereunder and that each Lender shall be obligated to make the Loans provided to be made by it
hereunder, regardless of the failure of any other Lender to make its Loans hereunder.

          2.08 Interest. (a) The Borrower agrees to pay interest in respect of the unpaid principal
amount of each Base Rate Loan from the date of Borrowing thereof until the earlier of (i) the
maturity thereof (whether by acceleration or otherwise) and (ii) the conversion of such Base Rate
Loan to a Eurodollar Loan pursuant to Section 2.06 or 2.09, as applicable, at a rate per annum
which shall be equal to the sum of the relevant Applicable Margin plus the Base Rate, each
as in effect from time to time.

          (b) The Borrower agrees to pay interest in respect of the unpaid principal amount of each
Eurodollar Loan from the date of Borrowing thereof until the earlier of (i) the maturity thereof
(whether by acceleration or otherwise) and (ii) the conversion of such Eurodollar Loan to a Base
Rate Loan pursuant to Section 2.06, 2.09 or 2.10, as applicable, at a rate per annum which shall,
during each Interest Period applicable thereto, be equal to the sum of the relevant Applicable
Margin as in effect from time to time during such Interest Period plus the Eurodollar Rate
for such Interest Period.

          (c) Overdue principal and, to the extent permitted by law, overdue interest in respect of each
Loan shall, in each case, bear interest at a rate per annum equal to the greater of (x) the rate
which is 2% in excess of the rate then borne by such Loans and (y) the rate which is 2% in excess
of the rate otherwise applicable to Base Rate Loans of the respective Tranche from time to time,
and all other overdue amounts payable hereunder and under any other Credit Document shall bear
interest at a rate per annum equal to the rate which is 2% in excess of the rate applicable to
Revolving Loans that are maintained as Base Rate Loans from time to time. Interest that accrues
under this Section 2.08(c) shall be payable on demand.

          (d) Accrued (and theretofore unpaid) interest shall be payable (i) in respect of each Base
Rate Loan, (x) quarterly in arrears on each Quarterly Payment Date, (y) on the date of any
repayment or prepayment in full of all outstanding Base Rate Loans of any Tranche, and (z) at
maturity (whether by acceleration or otherwise) and, after such maturity, on demand, and (ii) in
respect of each Eurodollar Loan, (x) on the last day of each Interest Period applicable thereto
and, in the case of an Interest Period in excess of three months, on each date occurring at three
month intervals after the first day of such Interest Period, and (y) on the date of any repayment
or prepayment (on the amount repaid or prepaid), at maturity (whether by acceleration or otherwise)
and, after such maturity, on demand.

          (e) Upon each Interest Determination Date, the Administrative Agent shall determine the
Eurodollar Rate for each Interest Period applicable to the respective Eurodollar Loans and shall
promptly notify the Borrower and the Lenders thereof. Each such determination shall, absent
manifest error, be final and conclusive and binding on all parties hereto.

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          2.09 Interest Periods. At the time the Borrower gives any Notice of Borrowing or Notice of
Conversion/Continuation in respect of the making of, or conversion into, or continuation of, any
Eurodollar Loan (in the case of the initial Interest Period applicable thereto) or prior to 12:00
Noon (New York City time) on the third Business Day prior to the expiration of an Interest Period
applicable to such Eurodollar Loan (in the case of any subsequent Interest Period), the Borrower
shall have the right to elect the interest period (each, an “Interest Period”) applicable
to such Eurodollar Loan, which Interest Period shall, at the option of the Borrower, be (x) a one,
two, three, six or, if approved by each Lender with Loans and/or Commitments under the relevant
Tranche, nine or twelve month period or (y) if agreed by the Administrative Agent in its sole
discretion, such other period not to exceed one-month; provided that (in each case):

     (i) all Eurodollar Loans comprising a Borrowing shall at all times have the same
Interest Period;

     (ii) the initial Interest Period for any Eurodollar Loan shall commence on the date of
Borrowing of such Eurodollar Loan (including the date of any conversion thereto from a Base
Rate Loan) and each Interest Period occurring thereafter in respect of such Eurodollar Loan
shall commence on the day on which the next preceding Interest Period applicable thereto
expires;

     (iii) if any Interest Period for a Eurodollar Loan begins on a day for which there is
no numerically corresponding day in the calendar month at the end of such Interest Period,
such Interest Period shall end on the last Business Day of such calendar month;

     (iv) if any Interest Period for a Eurodollar Loan would otherwise expire on a day which
is not a Business Day, such Interest Period shall expire on the next succeeding Business
Day; provided, however, that if any Interest Period for a Eurodollar Loan
would otherwise expire on a day which is not a Business Day but is a day of the month after
which no further Business Day occurs in such month, such Interest Period shall expire
on the next preceding Business Day;

     (v) unless the Required Lenders otherwise agree, no Interest Period may be selected at
any time when an Event of Default is then in existence;

     (vi) no Interest Period in respect of any Borrowing of any Tranche of Loans shall be
selected which extends beyond the Maturity Date for such Tranche of Loans;

     (vii) no Interest Period in respect of any Borrowing of A Term Loans or B Term Loans
shall be selected which extends beyond any date upon which a mandatory repayment of such A
Term Loans or B Term Loans, as the case may be, will be required to be made under Section
5.02(b) or (c), as the case may be, if the aggregate principal amount of such A Term Loans
or B Term Loans, as the case may be, which have Interest Periods which will expire after
such date will be in excess of the aggregate principal amount of such A Term Loans or B Term
Loans, as the case may be, then outstanding less the aggregate amount of such
required repayment; and

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     (viii) no Interest Period other than a one month Interest Period may be selected prior
to the Syndication Termination Date, and such an Interest Period may only be selected so
long as all outstanding Loans that are maintained as Eurodollar Loans are subject to the
same one month Interest Period which begins and ends on the same day.

          If by 12:00 Noon (New York City time) on the third Business Day prior to the expiration of any
Interest Period applicable to a Borrowing of Eurodollar Loans, the Borrower has failed to elect, or
is not permitted to elect, a new Interest Period to be applicable to such Eurodollar Loans as
provided above, the Borrower shall be deemed to have elected to convert such Eurodollar Loans into
Base Rate Loans effective as of the expiration date of such current Interest Period.

          2.10 Increased Costs, Illegality, etc. (a) In the event that any Lender shall have
determined (which determination shall, absent manifest error, be final and conclusive and binding
upon all parties hereto but, with respect to clause (i) below, may be made only by the
Administrative Agent):

     (i) on any Interest Determination Date that, by reason of any changes arising after the
Effective Date affecting the London interbank market, adequate and fair means do not exist
for ascertaining the applicable interest rate on the basis provided for in the definition of
Eurodollar Rate; or

     (ii) at any time, that such Lender shall incur increased costs or reductions in the
amounts received or receivable hereunder with respect to any Eurodollar Loan because of (x)
any change since the Effective Date in any applicable law or governmental rule, regulation,
order, guideline or request (whether or not having the force of law) or in the
interpretation or administration thereof and including the introduction of any new law or
governmental rule, regulation, order, guideline or request, such as, but not limited to:
(A) a change in the basis of taxation of payment to any Lender of the principal of or
interest on such Eurodollar Loans or any other amounts payable hereunder (except for
the imposition of, or any changes in the rate of, any Excluded Tax) but without duplication
of any amounts payable in respect of Taxes pursuant to Section 5.04(a) or (B) a change in
official reserve requirements, but, in all events, excluding reserves required under
Regulation D to the extent included in the computation of the Eurodollar Rate and/or (y)
other circumstances arising since the Effective Date affecting such Lender, the London
interbank market or the position of such Lender in such market; or

     (iii) at any time, that the making or continuance of any Eurodollar Loan has been made
(x) unlawful by any law or governmental rule, regulation or order, (y) impossible by
compliance by any Lender in good faith with any governmental request (whether or not having
force of law) or (z) impracticable as a result of a contingency occurring after the
Effective Date which materially and adversely affects the London interbank market;

then, and in any such event, such Lender (or the Administrative Agent, in the case of clause (i)
above) shall promptly give notice (by telephone promptly confirmed in writing) to the Borrower and,
except in the case of clause (i) above, to the Administrative Agent of such

46

 

determination (which
notice the Administrative Agent shall promptly transmit to each of the other Lenders). Thereafter
(x) in the case of clause (i) above, Eurodollar Loans shall no longer be available until such time
as the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving
rise to such notice by the Administrative Agent no longer exist, and any Notice of Borrowing or
Notice of Conversion/Continuation given by the Borrower with respect to Eurodollar Loans which have
not yet been incurred (including by way of conversion) shall be deemed rescinded by the Borrower,
(y) in the case of clause (ii) above, the Borrower agrees, subject to the provisions of Section
2.10(b) (to the extent applicable), to pay to such Lender, upon such Lender’s written request
therefor, such additional amounts (in the form of an increased rate of, or a different method of
calculating, interest or otherwise as such Lender in its sole discretion shall determine) as shall
be required to compensate such Lender for such increased costs or reductions in amounts received or
receivable hereunder (a written notice as to the additional amounts owed to such Lender, showing in
reasonable detail the basis for the calculation thereof, submitted to the Borrower by such Lender
in good faith shall, absent manifest error, be final and conclusive and binding on all the parties
hereto) and (z) in the case of clause (iii) above, the Borrower shall take one of the actions
specified in Section 2.10(b) as promptly as possible and, in any event, within the time period
required by law. Each of the Administrative Agent and each Lender agrees that if it gives notice
to the Borrower of any of the events described in clause (i) or (iii) above, it shall promptly
notify the Borrower and, in the case of any such Lender, the Administrative Agent, if such event
ceases to exist. If any such event described in clause (iii) above ceases to exist as to a Lender,
the obligations of such Lender to make Eurodollar Loans and to convert Base Rate Loans into
Eurodollar Loans on the terms and conditions contained herein shall be reinstated.

          (b) At any time that any Eurodollar Loan is affected by the circumstances described in Section
2.10(a)(ii), the Borrower may, and in the case of a Eurodollar Loan affected by the circumstances
described in Section 2.10(a)(iii), the Borrower shall, either (x) if the affected Eurodollar Loan
is then being made initially or pursuant to a conversion, cancel such Borrowing by giving the
Administrative Agent telephonic notice (confirmed in writing) on the
same date that the Borrower was notified by the affected Lender or the Administrative Agent
pursuant to Section 2.10(a)(ii) or (iii) or (y) if the affected Eurodollar Loan is then
outstanding, upon at least three Business Days’ written notice to the Administrative Agent, require
the affected Lender to convert such Eurodollar Loan into a Base Rate Loan; provided that,
if more than one Lender is affected at any time, then all affected Lenders must be treated the same
pursuant to this Section 2.10(b).

          (c) If any Lender determines that after the Effective Date the introduction of or any change
in any applicable law or governmental rule, regulation, order, guideline, directive or request
(whether or not having the force of law) concerning capital adequacy, or any change in
interpretation or administration thereof by any Governmental Authority, central bank or comparable
agency, will have the effect of increasing the amount of capital required or expected to be
maintained by such Lender or any corporation controlling such Lender based on the existence of such
Lender’s Commitments hereunder or its obligations hereunder, then the Borrower agrees to pay to
such Lender, upon its written demand therefor, such additional amounts as shall be required to
compensate such Lender or such other corporation for the increased cost to such Lender or such
other corporation or the reduction in the rate of return to such Lender or such other corporation
as a result of such increase of capital. In determining such

47

 

additional amounts, each Lender will
act reasonably and in good faith and will use averaging and attribution methods which are
reasonable; provided that such Lender’s reasonable good faith determination of compensation
owing under this Section 2.10(c) shall, absent manifest error, be final and conclusive and binding
on all the parties hereto. Each Lender, upon determining that any additional amounts will be
payable pursuant to this Section 2.10(c), will give prompt written notice thereof to the Borrower,
which notice shall show in reasonable detail the basis for calculation of such additional amounts.

          (d) Notwithstanding anything in this Agreement to the contrary, the Dodd-Frank Wall Street
Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives
thereunder, issued in connection therewith or in implementation thereof, shall be deemed to be a
change after the Effective Date in a requirement of law or government rule, regulation or order,
regardless of the date enacted, adopted, issued or implemented (including for purposes of this
Section 2.10 and Section 3.06).

          2.11 Compensation. The Borrower agrees to compensate each Lender, upon its
written request (which request shall set forth in reasonable detail the basis for requesting such
compensation), for all reasonable losses, expenses and liabilities (including, without limitation,
any loss, expense or liability incurred by reason of the liquidation or reemployment of deposits or
other funds required by such Lender to fund its Eurodollar Loans but excluding loss of anticipated
profits) which such Lender may sustain: (i) if for any reason (other than a default by such Lender
or the Administrative Agent) a Borrowing of, or conversion from or into, Eurodollar Loans does not
occur on a date specified therefor in a Notice of Borrowing or Notice of Conversion/Continuation
(whether or not withdrawn by the Borrower or deemed withdrawn pursuant to Section 2.10(a)); (ii) if
any prepayment or repayment (including any prepayment or repayment made pursuant to Section 5.01,
Section 5.02 or as a result of an acceleration of the Loans pursuant to Section 11) or conversion
of any of its Eurodollar Loans occurs on a date
which is not the last day of an Interest Period with respect thereto; (iii) if any prepayment
of any of its Eurodollar Loans is not made on any date specified in a notice of prepayment given by
the Borrower; or (iv) as a consequence of (x) any other default by the Borrower in repaying
Eurodollar Loans when required by the terms of this Agreement or any Note held by such Lender or
(y) any election made pursuant to Section 2.10(b).

          2.12 Change of Lending Office. Each Lender agrees that upon the occurrence of any
event giving rise to the operation of Section 2.10(a)(ii) or (iii), Section 2.10(c), Section 3.06
or Section 5.04 with respect to such Lender, it will, if requested by the Borrower, use reasonable
efforts (subject to overall policy considerations of such Lender) to designate another lending
office for any Loans or Letters of Credit affected by such event; provided that such
designation is made on such terms that such Lender and its lending office suffer no economic, legal
or regulatory disadvantage, with the object of avoiding the consequence of the event giving rise to
the operation of such Section. Nothing in this Section 2.12 shall affect or postpone any of the
obligations of the Borrower or the right of any Lender provided in Sections 2.10, 3.06 and 5.04.

          2.13 Replacement of Lenders. (w) If any Lender becomes a Defaulting Lender, (x) if
any Lender is incurring or is reasonably expected to incur costs which are or would be material in
amount and are associated with a Gaming Authority’s investigation of whether or not

48

 

such Lender is
a Qualified Person, (y) upon the occurrence of any event giving rise to the operation of Section
2.10(a)(ii) or (iii), Section 2.10(c), Section 3.06 or Section 5.04 with respect to any Lender
which results in such Lender charging to the Borrower increased costs in excess of those being
generally charged by the other Lenders or (z) in the case of a refusal by a Lender to consent to a
proposed change, waiver, discharge or termination with respect to this Agreement which has been
approved by the Required Lenders as (and to the extent) provided in Section 13.12(b), the Borrower
shall have the right, in accordance with Section 13.04(b), to replace such Lender (the
“Replaced Lender”) with one or more other Qualified Persons, none of whom shall constitute
a Defaulting Lender at the time of such replacement (collectively, the “Replacement
Lender”) and each of which shall be reasonably acceptable to the Administrative Agent or, in
the case of a replacement as provided in Section 13.12(b) where the consent of the respective
Lender is required with respect to less than all Tranches of its Loans or Commitments, to replace
the Commitments and/or outstanding Loans of such Lender in respect of each Tranche where the
consent of such Lender would otherwise be individually required, with identical Commitments and/or
Loans of the respective Tranche provided by the Replacement Lender; provided that:

     (a) at the time of any replacement pursuant to this Section 2.13, the Replacement
Lender shall enter into one or more Assignment and Assumption Agreements pursuant to Section
13.04(b) (and with all fees payable pursuant to said Section 13.04(b) to be paid by the
Replacement Lender and/or the Replaced Lender (as may be agreed to at such time by and
among the Borrower, the Replacement Lender and the Replaced Lender)) pursuant to which the
Replacement Lender shall acquire all of the Commitments and outstanding Loans (or, in the
case of the replacement of only (a) the Revolving Loan Commitment, the Revolving Loan
Commitment and outstanding
Revolving Loans and participations in Letter of Credit Outstandings and/or (b) the
outstanding Term Loans of any Tranche, the outstanding Term Loans of the respective Tranche
or Tranches with respect to which such Lender is being replaced) of, and in each case
(except for the replacement of only the outstanding Term Loans of any or all Tranches of
Term Loans of the respective Lender) all participations in Letters of Credit by, the
Replaced Lender and, in connection therewith, shall pay to (x) the Replaced Lender in
respect thereof an amount equal to the sum of (A) an amount equal to the principal of, and
all accrued interest on, all outstanding Loans of the respective Replaced Lender under each
Tranche with respect to which such Replaced Lender is being replaced, (B) an amount equal to
all Unpaid Drawings (unless there are no Unpaid Drawings with respect to the Tranche being
replaced) that have been funded by (and not reimbursed to) such Replaced Lender, together
with all then unpaid interest with respect thereto at such time and (C) an amount equal to
all accrued, but theretofore unpaid, Fees owing to the Replaced Lender (but only with
respect to the relevant Tranche, in the case of the replacement of less than all Tranches of
Loans then held by the respective Replaced Lender) pursuant to Section 4.01, (y) except in
the case of the replacement of only the outstanding Term Loans of one or more Tranches of a
Replaced Lender, each Issuing Lender an amount equal to such Replaced Lender’s RL Percentage
of any Unpaid Drawing relating to Letters of Credit issued by such Issuing Lender (which at
such time remains an Unpaid Drawing) to the extent such amount was not theretofore funded by
such Replaced Lender and (z) in the case of any replacement of Revolving Loan Commitments,
the Swingline Lender an amount equal to such Replaced Lender’s

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RL Percentage of any
Mandatory Borrowing to the extent such amount was not theretofore funded by such Replaced
Lender to the Swingline Lender; and

     (b) all obligations of the Borrower then owing to the Replaced Lender (other than those
(a) specifically described in clause (a) above in respect of which the assignment purchase
price has been, or is concurrently being, paid, but including all amounts, if any, owing
under Section 2.11(a), or (b) relating to any Tranche of Loans and/or Commitments of the
respective Replaced Lender which will remain outstanding after giving effect to the
respective replacement) shall be paid in full to such Replaced Lender concurrently with such
replacement.

Upon receipt by the Replaced Lender of all amounts required to be paid to it pursuant to this
Section 2.13, the Administrative Agent shall be entitled (but not obligated) and is authorized
(which authorization is coupled with an interest) to execute an Assignment and Assumption Agreement
on behalf of such Replaced Lender, and any such Assignment and Assumption Agreement so executed by
the Administrative Agent and the Replacement Lender shall be effective for purposes of this Section
2.13 and Section 13.04. Upon the execution of the respective Assignment and Assumption Agreement,
the payment of amounts referred to in clauses (a) and (b) above, recordation of the assignment on
the Register by the Administrative Agent pursuant to Section 13.16 and, if so requested by the
Replacement Lender, delivery to the Replacement Lender of the appropriate Note or Notes executed by
the Borrower, (x) the Replacement Lender shall become a Lender hereunder and, unless the respective
Replaced Lender continues to have outstanding Term Loans and/or a Revolving Loan Commitment
hereunder, the Replaced Lender shall cease to constitute a Lender hereunder, except with respect to
indemnification provisions under this Agreement (including, without limitation, Sections 2.10,
2.11, 3.06, 5.04, 12.06, 13.01 and 13.06), which shall survive as to such Replaced Lender and (y)
except in the case of the replacement of only outstanding Term Loans pursuant to this Section 2.13,
the RL Percentages of the Lenders shall be automatically adjusted at such time to give effect to
such replacement.

          2.14 Defaulting Lenders. Notwithstanding any provision of this Agreement to the
contrary, if any RL Lender becomes a Defaulting Lender, then the following provisions shall apply
for so long as such RL Lender is a Defaulting Lender:

          (a) if any Swingline Loan Exposure or Letter of Credit Exposure exists at the time a RL Lender
becomes a Defaulting Lender then:

     (i) all or any part of such Swingline Loan Exposure and Letter of Credit Exposure shall
be reallocated among the RL Lenders that are Non-Defaulting RL Lenders in accordance with
their respective RL Percentages but only to the extent (x) the sum of all RL Lenders’ that
are Non-Defaulting RL Lenders Individual Exposures plus such Defaulting Lender’s Swingline
Loan Exposure and Letter of Credit Exposure does not exceed the aggregate amount of all
Non-Defaulting RL Lenders’ Available Revolving Loan Commitments, (y) immediately following
the reallocation to a RL Lender that is a Non-Defaulting Lender, the Individual Exposure of
such RL Lender does not exceed its Available Revolving Loan Commitment at such time and (z)
the conditions set forth in Section 7 are satisfied at such time;

50

 

     (ii) if the reallocation described in clause (i) above cannot, or can only partially,
be effected, the Borrower shall within one Business Day following notice by the
Administrative Agent (x) first, prepay such Swingline Loan Exposure and (y)
second, cash collateralize in a manner reasonably satisfactory to the applicable
Issuing Lender such Defaulting Lender’s Letter of Credit Exposure (after giving effect to
any partial reallocation pursuant to clause (i) above) in aggregate amount equal to 103% of
such Defaulting Lender’s Letter of Credit Exposure for so long as such Letter of Credit
Exposure is outstanding (the “Letter of Credit Back-Stop Arrangements”);

     (iii) the Borrower shall not be required to pay any fees to such Defaulting Lender
pursuant to Section 4.01(b) with respect to such Defaulting Lender’s Letter of
Credit Exposure;

     (iv) if the Letter of Credit Exposure of the Non-Defaulting Lenders is reallocated
pursuant to this Section 2.14(a), then the fees payable to the RL Lenders pursuant
to Section 4.01(b) shall be adjusted in accordance with such Non-Defaulting Lenders’
RL Percentages; and

     (v) if any Defaulting Lender’s Letter of Credit Exposure is neither cash collateralized
nor reallocated pursuant to this Section 2.14(a), then, without prejudice to any rights or
remedies of any Issuing Lender or any RL Lender hereunder, all Letter of Credit Fees payable
under Section 4.01(b) with respect to such Defaulting Lender’s
Letter of Credit Exposure shall be payable to each Issuing Lender until such Letter of
Credit Exposure is cash collateralized and/or reallocated; and

          (b) notwithstanding anything to the contrary contained in Section 2.01(c) or Section 3, so
long as any RL Lender is a Defaulting Lender (i) the Swingline Lender shall not be required to fund
any Swingline Loan and no Issuing Lender shall be required to issue, amend, renew or increase any
Letter of Credit, unless it is satisfied that the related exposure will be 100% covered by the
Available Revolving Loan Commitments of the Non-Defaulting Lenders and/or cash collateral has been
provided by the Borrower in accordance with Section 2.14(a), and (ii) participating interests in
any such newly issued or increased Letter of Credit or newly made Swingline Loan shall be allocated
among RL Lenders that are Non-Defaulting Lenders in a manner consistent with Section 2.14(a)(i)
(and Defaulting Lenders shall not participate therein).

In the event that the Administrative Agent, the Borrower, each Issuing Lender and the Swingline
Lender each agrees that a Defaulting Lender has adequately remedied all matters that caused such RL
Lender to be a Defaulting Lender, then (i) the Swingline Loan Exposure and Letter of Credit
Exposure of the RL Lenders shall be readjusted to reflect the inclusion of such RL Lender’s
Revolving Loan Commitments and on such date such RL Lender shall purchase at par such of the
Revolving Loans of the other RL Lenders (other than Swingline Loans) as the Administrative Agent
shall determine may be necessary in order for such RL Lender to hold such Revolving Loans in
accordance with its RL Percentage and (ii) so long as no Event of Default then exists, all funds
held as cash collateral pursuant to the Letter of Credit Back-Stop Arrangements shall thereafter be
promptly returned to the Borrower. If the Revolving Loan Commitments have been terminated, all
other Revolving Obligations have been paid in full and no Letters of Credit are outstanding, then,
so long as no Event of Default then exists, all funds

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held as cash collateral pursuant to the
Letter of Credit Back-Stop Arrangements shall thereafter be promptly returned to the Borrower.

          2.15 Incremental Credit Extensions. (a) The Borrower may at any time or from time to
time after the Syndication Termination Date, by notice to the Administrative Agent, request (x) one
or more additional tranches or additions to an existing Tranche of Term Loans (the “Incremental
Term Loans”) or (y) one or more additional tranches or increases in the amount of the Revolving
Loan Commitments on the same terms as the Revolving Loans (the “Revolving Commitment
Increase”, and, together with the Incremental Term Loans, collectively, the “Incremental
Loans”); provided that:

     (i) upon the effectiveness of any Incremental Amendment referred to below after giving
effect to the incurrence of such Incremental Term Loan, no Default or Event of Default shall
exist;

     (ii) upon the effectiveness of any Incremental Amendment referred to below, all of the
representations and warranties of each Credit Party set forth in Section 8 and in each other
Credit Document shall be true and correct in all material respects as of such time (except
to the extent such representations and warranties expressly relate to an
earlier date, in which case they shall be true and correct in all material respects as
of such earlier date);

     (iii) the aggregate amount of Incremental Term Loans and Revolving Commitment Increases
pursuant to this Section 2.15 shall not exceed the greater of (x) $200,000,000 and (y) the
amount which, after giving effect thereto (determined after giving effect to the incurrence
of such Incremental Loans and the full utilization of all Commitments under this Agreement),
would result in the Borrower being in compliance on a Pro Forma Basis with
the Financial Covenants set forth in Sections 10.08 and 10.10 and with a Total Net Leverage
Ratio that is at least 0.25x lower than the maximum Total Net Leverage Ratio set forth in
Section 10.09, in each case for the last fiscal quarter ending prior to the effectiveness of
such Incremental Amendment for which financial statements are available (it being
acknowledged and agreed that the required ratio levels to be satisfied will be the level
applicable on the last day of the fiscal quarter in which such Incremental Amendment becomes
effective);

     (iv) the Borrower shall have delivered to the Administrative Agent an acknowledgment,
in form and substance reasonably satisfactory to the Administrative Agent and executed by
each Credit Party, acknowledging that all Incremental Loans (and all interest, fees and
other amounts payable thereon) shall be Obligations under this Agreement and the other
applicable Credit Documents and shall be secured by the Security Documents, and guaranteed
under the Guaranty, on a pari passu basis with all other Obligations of the Borrower and the
other Credit Parties under this Agreement secured by the Security Documents and guaranteed
under the Guaranty;

     (v) the Borrower shall have delivered to the Administrative Agent a certificate
executed by an Authorized Officer of the Borrower (x) certifying compliance with the
requirements of preceding clauses (i), (ii) and (iii), and (y) demonstrating and certifying

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to the Administrative Agent’s reasonable satisfaction that the full amount of the respective
Incremental Loans shall not result in any violation or breach of the terms and conditions of
the Outstanding Existing Senior Notes, the Senior Notes or any other Material Indebtedness
of the Borrower and its Subsidiaries;

     (vi) each Credit Party shall have delivered to the Administrative Agent such other
officers’ certificates, board of director (or equivalent governing body) resolutions and
evidence of good standing (to the extent available under applicable law) as the
Administrative Agent shall reasonably request; and

     (vii) each Credit Party shall have completed such other actions as the Administrative
Agent may reasonably request in connection with such Incremental Loans in order to create,
continue or maintain the security interests of the Collateral Agent in the Collateral and
the perfection thereof (including such other documents reasonably requested by the
Administrative Agent to be delivered in connection therewith).

          (b) Incremental Term Loans that are added to the existing Tranche of B Term Loans, as
applicable, shall have identical terms to such existing Tranche of Term Loans. All
other Incremental Term Loans shall rank pari passu in right of payment and of security with
the Obligations; provided, however, that:

     (i) the interest rate applicable to the Incremental Term Loans may differ from that
applicable to the existing B Term Loans, but if the Effective Yield applicable to a given
tranche of Incremental Term Loans determined as of the initial funding date for such
Incremental Term Loans exceeds the Effective Yield then applicable to any A Term Loans or B
Term Loans by more than 0.50% (the amount of such excess being the “Yield
Differential”), the Applicable Margin for such existing Tranche of Term Loans subject to
a Yield Differential shall automatically be increased by the applicable Yield Differential
effective upon the making of the applicable Incremental Term Loans;

     (ii) the final stated maturity date for a given Tranche of Incremental Term Loans may
be later (but not sooner) than the B Term Loan Maturity Date;

     (iii) the amortization requirements for a given Tranche of Incremental Term Loans may
differ, so long as the Average Weighted Life to Maturity of such Incremental Term Loans is
no shorter than the Average Weighted Life to Maturity applicable to the then outstanding B
Term Loans;

     (iv) any Term Loans of a new Tranche may participate on a pro rata
basis or less than a pro rata basis (but not greater than a pro
rata basis except in the case of the scheduled amortization thereof) in any
voluntary or mandatory prepayments of Term Loans hereunder; and

     (v) the other terms of a given Tranche of Incremental Term Loans may differ if
reasonably satisfactory to the Administrative Agent.

          (c) Each Tranche of Incremental Term Loans shall be in an aggregate principal amount that is
not less than $25,000,000 (or such lesser amount as agreed to by the

53

 

Administrative Agent) and
shall be in an increment of $5,000,000 and each Revolving Commitment Increase shall be in an
aggregate principal amount that is not less than $25,000,000 (or such lesser amount as agreed to by
the Administrative Agent) and shall be in an increment of $5,000,000 (provided that in each
case such amount may be less if such amount represents all remaining availability under the limit
set forth in clause (iii) of Section 2.15(a)).

          (d) Each notice from the Borrower pursuant to this Section 2.15 shall set forth the requested
amount and proposed terms of the relevant Incremental Term Loans or Revolving Commitment Increases.
Incremental Term Loans may be made, and Revolving Commitment Increases may be provided, by any
existing Lender (but no existing Lender will have an obligation to make a portion of any
Incremental Term Loan or any portion of any Revolving Commitment Increase) or by any other bank or
other financial institution which is a Qualified Person (any such other bank or other financial
institution being called an “Additional Lender”); provided that the Administrative
Agent, the Swingline Lender and each Issuing Lender shall have consented (such consent not to be
unreasonably withheld or delayed) to such Lender’s or Additional Lender’s making such Incremental
Term Loans or providing such Revolving Commitment Increases if such consent would be required under
Section 13.04 for an assignment
of Loans or Revolving Loan Commitments, as applicable, to such Lender or Additional Lender.
Commitments in respect of Incremental Term Loans and Revolving Commitment Increases shall become
Commitments under this Agreement pursuant to an amendment (an “Incremental Amendment”) to
this Agreement and, as appropriate, the other Credit Documents, executed by the Borrower, each
Lender agreeing to provide such Commitment, if any, each Additional Lender, if any, and the
Administrative Agent. The Incremental Amendment may, without the consent of Lenders, effect such
amendments to this Agreement and the other Credit Documents as may be necessary or appropriate, in
the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of
this Section 2.15. The effectiveness of any Incremental Amendment shall be subject to the
satisfaction on the date thereof of each of the conditions set forth in Section 7 (it being
understood that all references to “the time of such Credit Event” or similar language in such
Section 7 shall be deemed to refer to the effective date of such Incremental Amendment) and such
other conditions as the parties thereto shall agree. The Borrower will use the proceeds of the
Incremental Term Loans and Revolving Commitment Increases for any purpose not prohibited by this
Agreement.

          (e) Upon each increase in the Revolving Loan Commitments pursuant to this Section 2.15, (a)
each RL Lender immediately prior to such increase will automatically and without further act be
deemed to have assigned to each Lender providing a portion of the Revolving Commitment Increase
(each a “Revolving Commitment Increase Lender”), and each such Revolving Commitment
Increase Lender will automatically and without further act be deemed to have assumed, a portion of
such RL Lender’s participations hereunder in outstanding Letters of Credit and Swingline Loans such
that, after giving effect to each such deemed assignment and assumption of participations, the
percentage of the aggregate outstanding (i) participations hereunder in Letters of Credit and (ii)
participations hereunder in Swingline Loans held by each RL Lender (including each such Revolving
Commitment Increase Lender) will equal the percentage of the aggregate Revolving Loan Commitments
of all RL Lenders represented by such RL Lender’s Revolving Loan Commitment and (b) if, on the date
of such increase, there are any Revolving Loans outstanding, such Revolving Loans shall on or prior
to the effectiveness of such Revolving Commitment Increase be prepaid from the proceeds of

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additional Revolving Loans made hereunder (reflecting such increase in Revolving Loan Commitments),
which prepayment shall be accompanied by accrued interest on the Revolving Loans being prepaid and
any costs incurred by any Lender in accordance with Section 2.11. The Administrative Agent and the
Lenders hereby agree that the minimum borrowing, pro rata borrowing and pro rata payment
requirements contained elsewhere in this Agreement shall not apply to the transactions effected
pursuant to the immediately preceding sentence.

          (f) This Section 2.15 shall supersede any provisions in Section 13.06 or 13.12 to the
contrary.

          2.16 Extensions of Term Loans and Revolving Loan Commitments. (a) Notwithstanding
anything to the contrary in this Agreement, pursuant to one or more offers (each, an “Extension
Offer”) made from time to time by the Borrower to all Lenders of Term Loans with a like
maturity date or Revolving Loan Commitments with a like maturity date, in each case on a
pro rata basis (based on the aggregate outstanding principal amount of the
respective Term Loans or Revolving Loan Commitments with a like maturity date,
as the case may be) and on the same terms to each such Lender, the Borrower is hereby
permitted to consummate from time to time transactions with individual Lenders that accept the
terms contained in such Extension Offers to extend the maturity date of each such Lender’s Term
Loans and/or Revolving Loan Commitments and otherwise modify the terms of such Term Loans and/or
Revolving Loan Commitments pursuant to the terms of the relevant Extension Offer (including,
without limitation, by increasing the interest rate or fees payable in respect of such Term Loans
and/or Revolving Loan Commitments (and related outstandings) and/or modifying the amortization
schedule in respect of such Lender’s Term Loans) (each, an “Extension”, and each group of
Term Loans or Revolving Loan Commitments, as applicable, in each case as so extended, as well as
the original Term Loans and the original Revolving Loan Commitments (in each case not so extended),
being a “Tranche”; any Extended Term Loans shall constitute a separate Tranche of Term Loans from
the Tranche of Term Loans from which they were converted, and any Extended Revolving Commitments
shall constitute a separate Tranche of Revolving Loan Commitments from the Tranche of Revolving
Loan Commitments from which they were converted), so long as the following terms are satisfied:

     (i) no Default or Event of Default shall have occurred and be continuing at the time
the offering document in respect of an Extension Offer is delivered to the Lenders;

     (ii) except as to interest rates, fees and final maturity (which shall be determined by
the Borrower and set forth in the relevant Extension Offer), the Revolving Loan Commitment
of any Revolving Lender that agrees to an extension with respect to such Revolving Loan
Commitment (an “Extending Revolving Lender”) extended pursuant to an Extension (an
“Extended Revolving Commitment”), and the related outstandings, shall be a Revolving
Loan Commitment (or related outstandings, as the case may be) with the same terms as the
original Revolving Loan Commitments (and related outstandings); provided that (x)
subject to the provisions of Sections 2.01(f) and 3.01(c) to the extent dealing with
Swingline Loans and Letters of Credit which mature or expire after a Maturity Date when
there exist Revolving Commitments with a longer Maturity Date, all Swingline Loans and
Letters of Credit shall be participated in on a pro

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rata basis by all
Lenders with Revolving Loan Commitments in accordance with their RL Percentage of the
Revolving Loan Commitments (and except as provided in Section 2.01(f) and 3.01(c), without
giving effect to changes thereto on an earlier Maturity Date with respect to Swingline Loans
and Letters of Credit theretofore incurred or issued) and all borrowings under Revolving
Loan Commitments and repayments thereunder shall be made on a pro rata basis
(except for (A) payments of interest and fees at different rates on Extended Revolving
Commitments (and related outstandings) and (B) repayments required upon the Maturity Date of
the non-extending Revolving Loan Commitments) and (y) at no time shall there be Revolving
Loan Commitments hereunder (including Extended Revolving Commitments and any original
Revolving Loan Commitments) which have more than three different Maturity Dates;

     (iii) except as to interest rates, fees, amortization, final maturity date, premium,
required prepayment dates and participation in prepayments (which shall, subject to
immediately succeeding clauses (iv), (v) and (vi), be determined by the Borrower and set
forth in the relevant Extension Offer), the Term Loans of any Term Lender that agrees to
an extension with respect to such Term Loans (an “Extending Term Lender”)
extended pursuant to any Extension (“Extended Term Loans”) shall have the same terms
as the Tranche of Term Loans subject to such Extension Offer;

     (iv) the final maturity date of any Extended Term Loans shall be no earlier than the
then latest Maturity Date hereunder of the Tranche of Term Loans subject to such Extension
Offer and the amortization schedule applicable to Term Loans pursuant to Section 5.02 for
periods prior to the A Term Loan Maturity Date (if the A Term Loans are subject to such
Extension Offer) or prior to the B Term Loan Maturity Date (if the B Term Loans are subject
to such Extension Offer) may not be increased;

     (v) the Weighted Average Life to Maturity of any Extended Term Loans shall be no
shorter than the remaining Weighted Average Life to Maturity of the Term Loans extended
thereby;

     (vi) any Extended Term Loans may participate on a pro rata basis or a
less than pro rata basis (but not greater than a pro rata
basis except in the case of subordinated amortization thereof) in any voluntary or mandatory
repayments or prepayments of Term Loans hereunder, in each case as specified in the
respective Extension Offer;

     (vii) if the aggregate principal amount of Term Loans (calculated on the face amount
thereof) or Revolving Loan Commitments, as the case may be, in respect of which the
respective Lenders shall have accepted the relevant Extension Offer shall exceed the maximum
aggregate principal amount of Term Loans or Revolving Loan Commitments, as the case may be,
offered to be extended by the Borrower pursuant to such Extension Offer, then the Term Loans
or Revolving Loans, as the case may be, of such respective Lenders shall be extended ratably
up to such maximum amount based on the respective principal amounts (but not to exceed
actual holdings of record) with respect to which such respective Lenders have accepted such
Extension Offer;

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     (viii) all documentation in respect of such Extension shall be consistent with the
foregoing;

     (ix) any applicable Minimum Extension Condition shall be satisfied unless waived by the
Borrower; and

     (x) the Minimum Tranche Amount (as defined below) shall be satisfied unless waived by
the Administrative Agent.

          (b) With respect to all Extensions consummated by the Borrower pursuant to this Section 2.16,
(i) such Extensions shall not constitute voluntary or mandatory payments or prepayments for
purposes of Section 5.02(b)(ii) and (ii) no Extension Offer is required to be in any minimum amount
or any minimum increment; provided that (x) the Borrower may at its election specify as a
condition (a “Minimum Extension Condition”) to consummating any such Extension that a
minimum amount (to be determined and specified in the relevant Extension Offer in the Borrower’s
sole discretion and which may be waived by the Borrower) of Term Loans or Revolving Loan
Commitments (as applicable) of any or all applicable tranches be tendered and (y) no tranche of
Extended Term Loans shall be in an amount of less than
$50,000,000 (the “Minimum Tranche Amount”), unless such Minimum Tranche Amount is
waived by the Administrative Agent. The Administrative Agent and the Lenders hereby consent to the
transactions contemplated by this Section 2.16 (including, for the avoidance of doubt, payment of
any interest, fees or premium in respect of any Extended Term Loans and/or Extended Revolving
Commitments on such terms as may be set forth in the relevant Extension Offer) and hereby waive the
requirements of any provision of this Agreement or any other Credit Document that may otherwise
prohibit any such Extension or any other transaction contemplated by this Section 2.16.

          (c) No consent of any Lender or the Administrative Agent shall be required to effectuate any
Extension, other than (A) the consent of each Lender agreeing to such Extension with respect to one
or more of its Term Loans and/or Revolving Loan Commitments (or a portion thereof) and (B) with
respect to any Extension of the Revolving Loan Commitments, the consent of each Issuing Lender and
the Swingline Lender. All Extended Term Loans, Extended Revolving Commitments and all obligations
in respect thereof shall be Obligations under this Agreement and the other Credit Documents that
are secured by the Collateral on a pari passu basis with all other applicable
Obligations under this Agreement and the other Credit Documents. The Lenders hereby irrevocably
authorize the Administrative Agent to enter into amendments to this Agreement and the other Credit
Documents with the Borrower as may be necessary in order to establish new Tranches or sub-Tranches
in respect of Revolving Loan Commitments or Term Loans so extended and such technical amendments as
may be necessary or appropriate in the reasonable opinion of the Administrative Agent and the
Borrower in connection with the establishment of such new Tranches or sub-Tranches, in each case on
terms consistent with this Section 2.16. Without limiting the foregoing, in connection with any
Extensions the respective Credit Parties shall (at their expense) amend (and the Administrative
Agent is hereby directed to amend) any Mortgage that has a maturity date prior to the then latest
Maturity Date so that such maturity date is extended to the then latest Maturity Date (or such
later date as may be advised by local counsel to the Administrative Agent).

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          (d) In connection with any Extension, the Borrower shall provide the Administrative
Agent at least 10 Business Days’ (or such shorter period as may be agreed by the Administrative
Agent) prior written notice thereof, and shall agree to such procedures (including, without
limitation, regarding timing, rounding and other adjustments and to ensure reasonable
administrative management of the credit facilities hereunder after such Extension), if any, as may
be established by, or acceptable to, the Administrative Agent, in each case acting reasonably to
accomplish the purposes of this Section 2.16.

          2.17 Reverse Dutch Auction Repurchases. (a) Notwithstanding anything to the contrary
contained in this Agreement or any other Credit Document, the Borrower may, at any time and from
time to time after the later to occur of the Initial Borrowing Date and the Syndication Termination
Date, conduct reverse Dutch auctions in order to purchase Term Loans (each, an “Auction”)
(each such Auction to be managed exclusively by DBTCA or another investment bank of recognized
standing selected by the Borrower following consultation with the Administrative Agent (in such
capacity, the “Auction Manager”)), so long as the following conditions are satisfied:

     (i) each Auction shall be conducted in accordance with the procedures, terms and
conditions set forth in this Section 2.17 and Schedule 2.17;

     (ii) no Default or Event of Default shall have occurred and be continuing at the time
of purchase of any Term Loans in connection with any Auction;

     (iii) the minimum principal amount (calculated on the face amount thereof) of all Term
Loans that the Borrower offers to purchase in any such Auction shall be no less than
$5,000,000 (or integral multiples of $500,000 in excess thereof) (unless another amount is
agreed to by the Administrative Agent);

     (iv) after giving effect to any purchase of Term Loans pursuant to this Section 2.17,
the sum of (x) the Total Unutilized Revolving Loan Commitment and (y) the aggregate amount
of all cash and Cash Equivalents of the Borrower and the other Credit Parties, shall not be
less than $200,000,000;

     (v) the aggregate principal amount (calculated on the face amount thereof) of all Term
Loans so purchased by the Borrower shall automatically be cancelled and retired by the
Borrower on the settlement date of the relevant purchase (and may not be resold);

     (vi) no more than one Auction may be ongoing at any one time;

     (vii) each Auction shall be open and offered to all Lenders of the relevant Tranche on
a pro rata basis; and

     (viii) at the time of each purchase of Term Loans through an Auction, the Borrower
shall have delivered to the Auction Manager an officer’s certificate of an Authorized
Officer certifying as to compliance with preceding clause (iv).

          (b) The Borrower must terminate an Auction if it fails to satisfy one or more of the
conditions set forth above which are required to be met at the time which otherwise would

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have been
the time of purchase of Term Loans pursuant to the respective Auction. If the Borrower commences
any Auction and if at such time of commencement the Borrower reasonably believes that all required
conditions set forth above which are required to be satisfied at the time of the purchase of Term
Loans pursuant to such Auction shall be satisfied, then any failure to satisfy one or more of the
conditions set forth above shall not result in any Default or Event of Default hereunder. With
respect to all purchases of Term Loans made by the Borrower pursuant to this Section 2.17, (x) the
Borrower shall pay on the settlement date of each such purchase all accrued and unpaid interest
(except to the extent otherwise set forth in the relevant offering documents), if any, on the
purchased Term Loans up to the settlement date of such purchase and (y) such purchases (and the
payments made by the Borrower and the cancellation of the purchased Term Loans, in each case in
connection therewith) shall not constitute voluntary or mandatory payments or prepayments for
purposes of Sections 5.01, 5.02 or 13.06.

          (c) The Administrative Agent and the Lenders hereby consent to the Auctions and the other
transactions contemplated by this Section 2.17 (provided that no Lender shall have an
obligation to participate in any such Auctions) and hereby waive the requirements of any provision
of this Agreement (including, without limitation, Sections 5.01, 5.02 and 13.06 (it being
understood and acknowledged that purchases of the Term Loans by the Borrower contemplated by this
Section 2.17 shall not constitute Investments by the Borrower)) or any other Credit Document that
may otherwise prohibit any Auction or any other transaction contemplated by this Section 2.17. The
Auction Manager acting in its capacity as such hereunder shall be entitled to the benefits of the
provisions of Section 12 and Section 13.01 mutatis mutandis as if each reference therein to the
“Administrative Agent” were a reference to the Auction Manager, and the Administrative Agent shall
cooperate with the Auction Manager as reasonably requested by the Auction Manager in order to
enable it to perform its responsibilities and duties in connection with each Auction.

          (d) Each Lender participating in any Auction hereby acknowledges and agrees that in connection
with such Auction, (1) the Borrower may have, and later may come into possession of, information
regarding the Term Loans or the Credit Parties hereunder that is not known to such Lender and that
may be material to a decision by such Lender to participate in such Auction (such information, the
“Excluded Information”), (2) such Lender has independently, without reliance on the
Borrower, any of its Subsidiaries, the Administrative Agent or any of their respective Affiliates,
made its own analysis and determination to participate in such Auction notwithstanding such
Lender’s lack of knowledge of the Excluded Information and (3) none of the Borrower, its
Subsidiaries, the Administrative Agent or any of their respective Affiliates shall have any
liability to such Lender, and such Lender hereby waives and releases, to the extent permitted by
law, any claims such Lender may have against the Borrower, its Subsidiaries, the Administrative
Agent, and their respective Affiliates, under applicable laws or otherwise, with respect to the
nondisclosure of the Excluded Information. Each Lender participating in any Auction further
acknowledges that the Excluded Information may not be available to the Administrative Agent or the
other Lenders.

          SECTION 3. Letters of Credit.

          3.01 Letters of Credit. (a) (I) Subject to and upon the terms and conditions set forth
herein, the Borrower may request that an Issuing Lender issue, at any time and from time to

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time on
and after the Initial Borrowing Date and prior to the 30th day prior to the Revolving Loan Maturity
Date, for the account of the Borrower and for the benefit of (x) any holder (or any trustee, agent
or other similar representative for any such holders) of L/C Supportable Obligations, an
irrevocable standby letter of credit, in a form customarily used by such Issuing Lender or in such
other form as is reasonably acceptable to such Issuing Lender, and (y) sellers of goods to the
Borrower or any of its Subsidiaries, an irrevocable trade letter of credit, in a form customarily
used by such Issuing Lender or in such other form as has been approved by such Issuing Lender (each
such letter of credit, a “Letter of Credit” and, collectively, the “Letters of
Credit”). All Letters of Credit shall be denominated in Dollars and shall be issued on a sight
basis only.

          (II) Schedule 3.01 contains a description of letters of credit that were originally issued
pursuant to the Existing Credit Agreement and which remain outstanding on the Effective Date (and
setting forth, with respect to each such letter of credit, (i) the name of the issuing lender, (ii)
the letter of credit number, (iii) the name(s) of the account party or account parties, (iv) the
stated amount, (v) the currency in which the letter of credit is denominated, (vi) the name of the
beneficiary, (vii) the expiry date and (viii) whether such letter of credit constitutes a standby
letter of credit or a trade letter of credit). Each such letter of credit which remains
outstanding on the Effective Date, including any extension or renewal thereof in accordance with
the terms thereof and hereof, shall constitute a “Letter of Credit” for all purposes of this
Agreement and shall be deemed issued on the Initial Borrowing Date.

          (b) Subject to and upon the terms and conditions set forth herein, each Issuing Lender agrees
that it will, at any time and from time to time on and after the Initial Borrowing Date and prior
to the 30th day prior to the Revolving Loan Maturity Date, following its receipt of the respective
Letter of Credit Request, issue for the account of the Borrower, one or more Letters of Credit as
are permitted to remain outstanding hereunder without giving rise to a Default or an Event of
Default; provided that no Issuing Lender shall be under any obligation to issue any Letter
of Credit of the types described above if at the time of such issuance:

     (i) any order, judgment or decree of any Governmental Authority or arbitrator shall
purport by its terms to enjoin or restrain such Issuing Lender from issuing such Letter of
Credit or any requirement of law applicable to such Issuing Lender or any request or
directive (whether or not having the force of law) from any Governmental Authority with
jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender
refrain from, the issuance of letters of credit generally or such Letter of Credit in
particular or shall impose upon such Issuing Lender with respect to such Letter of Credit
any restriction or reserve or capital requirement (for which such Issuing Lender is not
otherwise compensated hereunder) not in effect with respect to such Issuing Lender on the
date hereof, or any unreimbursed loss, cost or expense which was not applicable or in effect
with respect to such Issuing Lender as of the date hereof and which such Issuing Lender
reasonably and in good faith deems material to it; or

          (ii) such Issuing Lender shall have received from the Borrower, any other Credit Party
or the Required Lenders prior to the issuance of such Letter of Credit notice of the type
described in the second sentence of Section 3.03(b).

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          (c) If the Maturity Date in respect of any Tranche of Revolving Loan Commitments occurs prior
to the expiration of any Letter of Credit, then (i) if one or more other Tranches of Revolving Loan
Commitments in respect of which the Maturity Date shall not have occurred are then in effect, such
Letters of Credit shall automatically be deemed to have been issued (including for purposes of the
obligations of the Revolving Lenders to purchase participations therein and to make Revolving Loans
and payments in respect thereof pursuant to Section 3.04) under (and ratably participated in by
Lenders pursuant to) the Revolving Loan Commitments in respect of such non-terminating Tranches up
to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving
Loan Commitments thereunder at such time (it being understood that no partial face amount of any
Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to
immediately preceding clause (i), the Borrower shall cash collateralize any such Letter of Credit.
If, for any reason, such cash collateral is not provided or the reallocation does not occur, the
Revolving Lenders under the maturing Tranche shall continue to be responsible for their
participating interests in the Letters of Credit. Except to the extent of reallocations of
participations pursuant to clause (i) of the second preceding sentence, the occurrence of a
Maturity Date with respect to a given tranche of Revolving Loan Commitments shall have no effect
upon (and shall not diminish) the percentage participations of the Revolving Lenders in any Letter
of Credit issued before such Maturity Date. Commencing with the Maturity Date of any Tranche of
Revolving Loan Commitments, the sublimit for Letters of Credit shall be agreed with the Lenders
under the extended Tranches.

          3.02 Maximum Letter of Credit Outstandings; Final Maturities. Notwithstanding
anything to the contrary contained in this Agreement, (i) no Letter of Credit shall be issued the
Stated Amount of which, when added to the Letter of Credit Outstandings (exclusive of Unpaid
Drawings which are repaid on the date of, and prior to the issuance of, the respective Letter of
Credit) at such time would exceed either (x) $100,000,000 or (y) when added to the sum of (I) the
aggregate principal amount of all Revolving Loans then outstanding and (II) the aggregate principal
amount of all Swingline Loans then outstanding, an amount equal to the Total Revolving Loan
Commitment at such time, (ii) each Letter of Credit shall by its terms terminate (x) in the case of
standby Letters of Credit, on or before the earlier of (A) the date which occurs 12 months after
the date of the issuance thereof (although any such standby Letter of Credit may be extendible for
successive periods of up to 12 months each, but, in each case, not beyond the tenth Business Day
prior to the Revolving Loan Maturity Date, on terms acceptable to the Issuing Lender) and (B) ten
Business Days prior to the Revolving Loan Maturity Date, and (y) in the case of trade Letters of
Credit, on or before the earlier of (A) the date which occurs 180 days after the date of issuance
thereof and (B) 10 Business Days prior to the Revolving Loan Maturity Date and (iii) no Letter of
Credit may be issued with a termination date that is later than a Maturity Date for a Tranche of
Revolving Loan Commitments if the Stated Amount thereof, together with the Stated Amount of all
outstanding Letters of Credit with a termination date after such Maturity Date, shall exceed the
Revolving Loan Commitments after giving effect to the termination of the Revolving Loan Commitments
under such Tranche.

          3.03 Letter of Credit Requests; Minimum Stated Amount. (a) Whenever the Borrower desires
that a Letter of Credit be issued for its account, the Borrower shall give the Administrative Agent
and the respective Issuing Lender at least three Business Days’ (or such shorter period as is
acceptable to such Issuing Lender) written notice thereof (including by way

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of facsimile). Each
notice shall be in the form of Exhibit C, appropriately completed (each, a “Letter of Credit
Request”).

          (b) The making of each Letter of Credit Request shall be deemed to be a representation and
warranty by the Borrower to the Lenders that such Letter of Credit may be issued in accordance
with, and will not violate the requirements of, Section 3.02. Unless the respective Issuing Lender
has received notice from the Borrower, any other Credit Party or the Required Lenders before it
issues a Letter of Credit that one or more of the conditions specified in Section 6 or 7 are not
then satisfied, or that the issuance of such Letter of Credit would violate Section 3.02, then such
Issuing Lender shall, subject to the terms and conditions of this Agreement, issue the requested
Letter of Credit for the account of the Borrower in accordance with such Issuing Lender’s usual and
customary practices. Upon the issuance of or modification or amendment to any standby Letter of
Credit, each Issuing Lender shall promptly notify the Borrower and the Administrative Agent, in
writing, of such issuance, modification or amendment and such notice shall be accompanied by a copy
of such Letter of Credit or the respective modification or amendment thereto, as the case may be.
Promptly after receipt of such notice the Administrative Agent shall notify the Participants, in
writing, of such issuance, modification or amendment. On the first Business Day of each week, each
Issuing Lender shall furnish the Administrative Agent with a written (including via facsimile)
report of the daily aggregate outstandings of trade Letters of Credit issued by such Issuing Lender
for the immediately preceding week.

          (c) The initial Stated Amount of each Letter of Credit shall not be less than $50,000 or such
lesser amount as is acceptable to the respective Issuing Lender.

          3.04 Letter of Credit Participations. (a) Immediately upon the issuance by an Issuing
Lender of any Letter of Credit, such Issuing Lender shall be deemed to have sold and transferred to
each RL Lender, and each such RL Lender (in its capacity under this Section 3.04, a
“Participant”) shall be deemed irrevocably and unconditionally to have purchased and
received from such Issuing Lender, without recourse or warranty, an undivided interest and
participation, to the extent of such Participant’s RL Percentage, in such Letter of Credit, each
Drawing or payment made thereunder and the obligations of the Borrower under this Agreement with
respect thereto, and any security therefor or guaranty pertaining thereto. Upon any change in the
Revolving Loan Commitments or RL Percentages of the Lenders pursuant to Section 2.13, 2.15 or
13.04(b), it is hereby agreed that, with respect to all outstanding Letters of Credit and Unpaid
Drawings relating thereto, there shall be an automatic adjustment to the participations pursuant to
this Section 3.04 to reflect the new RL Percentages of the assignor and assignee Lender, as the
case may be.

          (b) In determining whether to pay under any Letter of Credit, no Issuing Lender shall have any
obligation relative to the other Lenders other than to confirm that any
documents required to be delivered under such Letter of Credit appear to have been delivered
and that they appear to substantially comply on their face with the requirements of such Letter of
Credit. Any action taken or omitted to be taken by an Issuing Lender under or in connection with
any Letter of Credit issued by it shall not create for such Issuing Lender any resulting liability
to the Borrower, any other Credit Party, any Lender or any other Person unless such action is taken
or omitted to be taken with gross negligence or willful misconduct on the part of

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such Issuing
Lender (as determined by a court of competent jurisdiction in a final and non-appealable decision).

          (c) In the event that an Issuing Lender makes any payment under any Letter of Credit issued by
it and the Borrower shall not have reimbursed such amount in full to such Issuing Lender pursuant
to Section 3.05(a), such Issuing Lender shall promptly notify the Administrative Agent, which shall
promptly notify each Participant of such failure, and each Participant shall promptly and
unconditionally pay to such Issuing Lender the amount of such Participant’s RL Percentage of such
unreimbursed payment in Dollars and in same day funds. If the Administrative Agent so notifies,
prior to 12:00 Noon (New York City time) on any Business Day, any Participant required to fund a
payment under a Letter of Credit, such Participant shall make available to the respective Issuing
Lender in Dollars such Participant’s RL Percentage of the amount of such payment on such Business
Day in same day funds. If and to the extent such Participant shall not have so made its RL
Percentage of the amount of such payment available to the respective Issuing Lender, such
Participant agrees to pay to such Issuing Lender, forthwith on demand such amount, together with
interest thereon, for each day from such date until the date such amount is paid to such Issuing
Lender at the overnight Federal Funds Rate for the first three days and at the interest rate
applicable to Revolving Loans that are maintained as Base Rate Loans for each day thereafter. The
failure of any Participant to make available to an Issuing Lender its RL Percentage of any payment
under any Letter of Credit issued by such Issuing Lender shall not relieve any other Participant of
its obligation hereunder to make available to such Issuing Lender its RL Percentage of any payment
under any Letter of Credit on the date required, as specified above, but no Participant shall be
responsible for the failure of any other Participant to make available to such Issuing Lender such
other Participant’s RL Percentage of any such payment.

          (d) Whenever an Issuing Lender receives a payment of a reimbursement obligation as to which it
has received any payments from the Participants pursuant to clause (c) above, such Issuing Lender
shall pay to each such Participant which has paid its RL Percentage thereof, in Dollars and in same
day funds, an amount equal to such Participant’s share (based upon the proportionate aggregate
amount originally funded by such Participant to the aggregate amount funded by all Participants) of
the principal amount of such reimbursement obligation and interest thereon accruing after the
purchase of the respective participations.

          (e) Upon the request of any Participant, each Issuing Lender shall furnish to such Participant
copies of any standby Letter of Credit issued by it and such other documentation as may reasonably
be requested by such Participant.

          (f) The obligations of the Participants to make payments to each Issuing Lender with respect
to Letters of Credit shall be irrevocable and not subject to any qualification or exception
whatsoever and shall be made in accordance with the terms and conditions of this
Agreement under all circumstances, including, without limitation, any of the following
circumstances:

     (i) any lack of validity or enforceability of this Agreement or any of the other Credit
Documents;

63

 

     (ii) the existence of any claim, setoff, defense or other right which the Borrower or
any of its Subsidiaries may have at any time against a beneficiary named in a Letter of
Credit, any transferee of any Letter of Credit (or any Person for whom any such transferee
may be acting), the Administrative Agent, any Issuing Lender, any Participant, or any other
Person, whether in connection with this Agreement, any Letter of Credit, the transactions
contemplated herein or any unrelated transactions (including any underlying transaction
between the Borrower or any Subsidiary of the Borrower and the beneficiary named in any such
Letter of Credit);

     (iii) any draft, certificate or any other document presented under any Letter of Credit
proving to be forged, fraudulent, invalid or insufficient in any respect or any statement
therein being untrue or inaccurate in any respect;

     (iv) the surrender or impairment of any security for the performance or observance of
any of the terms of any of the Credit Documents; or

     (v) the occurrence of any Default or Event of Default.

          3.05 Agreement to Repay Letter of Credit Drawings. (a) The Borrower hereby agrees to
reimburse each Issuing Lender, by making payment to the Administrative Agent in immediately
available funds at the Payment Office, for any payment or disbursement made by such Issuing Lender
under any Letter of Credit issued by it (each such amount, so paid until reimbursed by the
Borrower, an “Unpaid Drawing”), not later than one Business Day following receipt by the
Borrower of notice of such payment or disbursement (provided that no such notice shall be
required to be given if a Default or an Event of Default under Section 11.05 shall have occurred
and be continuing, in which case the Unpaid Drawing shall be due and payable immediately without
presentment, demand, protest or notice of any kind (all of which are hereby waived by the
Borrower)), with interest on the amount so paid or disbursed by such Issuing Lender, to the extent
not reimbursed prior to 12:00 Noon (New York City time) on the date of such payment or
disbursement, from and including the date paid or disbursed to but excluding the date such Issuing
Lender was reimbursed by the Borrower therefor at a rate per annum equal to the Base Rate as in
effect from time to time plus the Applicable Margin as in effect from time to time for
Revolving Loans that are maintained as Base Rate Loans; provided, however, to the
extent such amounts are not reimbursed prior to 12:00 Noon (New York City time) on the third
Business Day following the receipt by the Borrower of notice of such payment or disbursement or
following the occurrence of a Default or an Event of Default under Section 11.05, interest shall
thereafter accrue on the amounts so paid or disbursed by such Issuing Lender (and until reimbursed
by the Borrower) at a rate per annum equal to the Base Rate as in effect from time to time plus the
Applicable Margin for Revolving Loans that are maintained as Base Rate Loans as in effect from time
to time plus 2%, with such
interest to be payable on demand. Each Issuing Lender shall give the Borrower prompt written
notice of each Drawing under any Letter of Credit issued by it; provided that the failure
to give any such notice shall in no way affect, impair or diminish the Borrower’s obligations
hereunder.

          (b) The obligations of the Borrower under this Section 3.05 to reimburse each Issuing Lender
with respect to drafts, demands and other presentations for payment under Letters of Credit issued
by it (each, a “Drawing”) (including, in each case, interest thereon) shall be

64

 

absolute and
unconditional under any and all circumstances and irrespective of any setoff, counterclaim or
defense to payment which the Borrower or any Subsidiary of the Borrower may have or have had
against any Lender (including in its capacity as an Issuing Lender or as a Participant), including,
without limitation, any defense based upon the failure of any Drawing under a Letter of Credit to
conform to the terms of the Letter of Credit or any nonapplication or misapplication by the
beneficiary of the proceeds of such Drawing; provided, however, that the Borrower
shall not be obligated to reimburse any Issuing Lender for any wrongful payment made by such
Issuing Lender under a Letter of Credit issued by it as a result of acts or omissions constituting
willful misconduct or gross negligence on the part of such Issuing Lender (as determined by a court
of competent jurisdiction in a final and non-appealable decision).

          3.06 Increased Costs. If at any time after the Effective Date, the introduction of or
any change in any applicable law, rule, regulation, order, guideline or request or in the
interpretation or administration thereof by any Governmental Authority charged with the
interpretation or administration thereof, or compliance by any Issuing Lender or any Participant
with any request or directive by any such Governmental Authority (whether or not having the force
of law), shall either (i) impose, modify or make applicable any reserve, deposit, capital adequacy
or similar requirement against letters of credit issued by any Issuing Lender or participated in by
any Participant, or (ii) impose on any Issuing Lender or any Participant any other conditions
relating, directly or indirectly, to this Agreement or any Letter of Credit; and the result of any
of the foregoing is to increase the cost to any Issuing Lender or any Participant of issuing,
maintaining or participating in any Letter of Credit, or reduce the amount of any sum received or
receivable by any Issuing Lender or any Participant hereunder or reduce the rate of return on its
capital with respect to Letters of Credit (except for the imposition of, or any change in the rate
of, any Excluded Tax payable by any Issuing Lender or any Participant), then, upon the delivery of
the certificate referred to below to the Borrower by any Issuing Lender or any Participant (a copy
of which certificate shall be sent by such Issuing Lender or such Participant to the Administrative
Agent), the Borrower agrees, subject to the provisions of Section 2.11 (to the extent applicable),
to pay to such Issuing Lender or such Participant such additional amount or amounts as will
compensate such Issuing Lender or such Participant for such increased cost or reduction in the
amount receivable or reduction on the rate of return on its capital. Any Issuing Lender or any
Participant, upon determining that any additional amounts will be payable to it pursuant to this
Section 3.06, will give prompt written notice thereof to the Borrower, which notice shall include a
certificate submitted to the Borrower by such Issuing Lender or such Participant (a copy of which
certificate shall be sent by such Issuing Lender or such Participant to the Administrative Agent),
setting forth in reasonable detail the basis for the calculation of such additional amount or
amounts necessary to compensate such Issuing Lender or such Participant. The certificate
required to be delivered pursuant to this Section 3.06 shall, absent manifest error, be final
and conclusive and binding on the Borrower.

          SECTION 4. Commitment Commission; Fees; Reductions of Commitment.

          4.01 Fees. (a) The Borrower agrees to pay to the Administrative Agent for distribution to
each Non-Defaulting RL Lender a commitment commission (the “Commitment Commission”) for the
period from and including the Initial Borrowing Date to and including the Revolving Loan Maturity
Date (or such earlier date on which the Total Revolving Loan Commitment has been terminated) at the
Applicable Commitment Commission Rate. Accrued

65

 

Commitment Commission shall be due and payable
quarterly in arrears on each Quarterly Payment Date and on the date upon which the Total Revolving
Loan Commitment is terminated.

          (b) The Borrower agrees to pay to the Administrative Agent for distribution to each RL Lender
(based on each such RL Lender’s respective RL Percentage) a fee in respect of each Letter of Credit
(the “Letter of Credit Fee”) for the period from and including the date of issuance of such
Letter of Credit to and including the date of termination or expiration of such Letter of Credit,
computed at a rate per annum equal to the Applicable Margin as in effect from time to time during
such period with respect to Revolving Loans that are maintained as Eurodollar Loans on the daily
Stated Amount of each such Letter of Credit. Accrued Letter of Credit Fees shall be due and
payable quarterly in arrears on each Quarterly Payment Date and on the first day on or after the
termination of the Total Revolving Loan Commitment upon which no Letters of Credit remain
outstanding.

          (c) The Borrower agrees to pay to each Issuing Lender, for its own account, a facing fee in
respect of each Letter of Credit issued by it (the “Facing Fee”) for the period from and
including the date of issuance of such Letter of Credit to and including the date of termination or
expiration of such Letter of Credit, computed at a rate per annum equal to 1/5 of 1% on the daily
Stated Amount of such Letter of Credit; provided that in any event the minimum amount of
Facing Fees payable in any twelve-month period for each Letter of Credit shall be not less than
$500, it being agreed that, on the day of issuance of any Letter of Credit and on each anniversary
thereof prior to the termination or expiration of such Letter of Credit, if $500 will exceed the
amount of Facing Fees that will accrue with respect to such Letter of Credit for the immediately
succeeding twelve-month period, the full $500 shall be payable on the date of issuance of such
Letter of Credit and on each such anniversary thereof. Except as otherwise provided in the proviso
to the immediately preceding sentence, accrued Facing Fees shall be due and payable quarterly in
arrears on each Quarterly Payment Date and upon the first day on or after the termination of the
Total Revolving Loan Commitment upon which no Letters of Credit remain outstanding.

          (d) The Borrower agrees to pay to each Issuing Lender, for its own account, upon each payment
under, issuance of, or amendment to, any Letter of Credit issued by it, such amount as shall at the
time of such event be the administrative charge and the reasonable
expenses which such Issuing Lender is generally imposing in connection with such occurrence
with respect to letters of credit.

          (e) At the time of the effectiveness of any Repricing Transaction that is consummated prior to
the first anniversary of the Initial Borrowing Date, the Borrower agrees to pay to the
Administrative Agent, for the ratable account of each Lender with outstanding B Term Loans which
are repaid or prepaid pursuant to such Repricing Transaction (including each Lender that withholds
its consent to such Repricing Transaction and is replaced as a Replaced Lender under Section 2.13),
a fee in an amount equal to 1.00% of (x) in the case of a Repricing Transaction of the type
described in clause (1) of the definition thereof, the aggregate principal amount of all B Term
Loans prepaid (or converted) in connection with such Repricing Transaction and (y) in the case of a
Repricing Transaction described in clause (2) of the definition thereof, the aggregate principal
amount of all B Term Loans outstanding on such date that are subject to an effective reduction of
the Applicable Margin pursuant to such Repricing

66

 

Transaction. Such fees shall be due and payable
upon the date of the effectiveness of such Repricing Transaction.

          (f) The Borrower agrees to pay to the Administrative Agent such fees as may be agreed to in
writing from time to time by the Borrower or any of its Subsidiaries and the Administrative Agent.

          4.02 Voluntary Termination of Unutilized Loan Commitments. (a) Upon at least two Business
Days’ prior written notice (or by telephone and promptly confirmed in writing) to the
Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly
transmit to each of the Lenders), the Borrower shall have the right, at any time or from time to
time, without premium or penalty to terminate the Total Unutilized Revolving Loan Commitment in
whole, or reduce it in part, pursuant to this Section 4.02(a), in an integral multiple of
$1,000,000 in the case of partial reductions to the Total Unutilized Revolving Loan Commitment;
provided that each such reduction shall apply proportionately to permanently reduce the
Revolving Loan Commitment of each RL Lender.

          (b) In the event of certain refusals by a Lender to consent to certain proposed changes,
waivers, discharges or terminations with respect to this Agreement which have been approved by the
Required Lenders as (and to the extent) provided in Section 13.12(b), the Borrower shall have the
right, subject to obtaining the consents required by Section 13.12(b), upon five Business Days’
prior written notice to the Administrative Agent at the Notice Office (which notice the
Administrative Agent shall promptly transmit to each of the Lenders), to terminate the entire
Revolving Loan Commitment of such Lender, so long as all Loans, together with accrued and unpaid
interest, Fees and all other amounts, owing to such Lender (including all amounts, if any, owing
pursuant to Section 2.11 but excluding the payment of amounts owing in respect of Loans of any
Tranche maintained by such Lender, if such Loans are not being repaid pursuant to Section 13.12(b))
are repaid concurrently with the effectiveness of such termination (at which time Schedule 2.01
shall be deemed modified to reflect such changed amounts) and such Lender’s RL Percentage of all
outstanding Letters of Credit is cash collateralized in a manner satisfactory to the Administrative
Agent and the respective Issuing Lenders, and at such time, unless the respective Lender continues
to have outstanding Term
Loans hereunder, such Lender shall no longer constitute a “Lender” for purposes of this
Agreement, except with respect to indemnification under this Agreement (including, without
limitation, Sections 2.10, 2.11, 3.06, 5.04, 12.06, 13.01 and 13.06), which shall survive as to
such repaid Lender.

          4.03 Mandatory Reduction of Commitments. (a) The Total Commitment (and the Commitment of
each Lender) shall terminate in its entirety at 5:00 p.m. (New York City time) on April 29, 2011
unless the Initial Borrowing Date has occurred on or prior to such date.

          (b) In addition to any other mandatory commitment reductions pursuant to this Section 4.03,
the A Term Loan Commitment of each Lender shall terminate in its entirety on the Initial Borrowing
Date (after giving effect to the incurrence of A Term Loans on such date).

67

 

          (c) In addition to any other mandatory commitment reductions pursuant to this Section 4.03,
the B Term Loan Commitment of each Lender shall terminate in its entirety on the Initial Borrowing
Date (after giving effect to the incurrence of B Term Loans on such date).

          (d) In addition to any other mandatory commitment reductions pursuant to this Section 4.03,
the Total Revolving Loan Commitment shall terminate in its entirety upon the Revolving Loan
Maturity Date.

          (e) The Total Revolving Loan Commitment shall be reduced, and the Revolving Loan Commitment of
the respective Former Lender shall be terminated, in the amount and at the times provided in
Section 13.04(d).

          SECTION 5. Prepayments; Payments; Taxes.

          5.01 Voluntary Prepayments. (a) The Borrower shall have the right to prepay the
Loans, without premium (except as provided in Section 4.01(e)) or penalty, in whole or in part at
any time and from time to time on the following terms and conditions: (i) the Borrower shall give
the Administrative Agent prior to 11:00 A.M. (New York City time) at its Notice Office (x) at least
one Business Day’s prior written notice (or telephonic notice promptly confirmed in writing) of its
intent to prepay Base Rate Loans (or, in the case of Swingline Loans prior to 1:00 P.M. (New York
City time) on the date of such prepayment) and (y) at least three Business Days’ prior written
notice (or telephonic notice promptly confirmed in writing) of its intent to prepay Eurodollar
Loans, which notice shall in each case specify whether A Term Loans, B Term Loans, Revolving Loans
or Swingline Loans shall be prepaid, the amount of such prepayment and the Types of Loans to be
prepaid and, in the case of Eurodollar Loans, the specific Borrowing or Borrowings pursuant to
which such Eurodollar Loans were made, which notice the Administrative Agent shall, except in the
case of a prepayment of Swingline Loans, promptly transmit to each of the Lenders; (ii) each
prepayment shall be in an aggregate principal amount of at least $5,000,000 and, if greater, in an
integral multiple of $1,000,000 (or in the case of Swingline Loans, $10,000 and, if greater,
in an integral multiple thereof); provided that if any partial prepayment of
Eurodollar Loans made pursuant to any Borrowing shall reduce the outstanding Eurodollar Loans made
pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for such Tranche,
then such Borrowing shall be converted at the end of the then current Interest Period into a
Borrowing of Base Rate Loans; (iii) prepayments of Eurodollar Loans made pursuant to this Section
5.01(a) made on any day other than the last day of an Interest Period applicable thereto shall be
subject to the provisions of Section 2.11; (iv) each prepayment in respect of any Loans made
pursuant to a Borrowing shall, except as provided in clause (v) below, be applied pro
rata among the Lenders which made such Loans; (v) at the Borrower’s election in connection
with any prepayment of Revolving Loans pursuant to this Section 5.01(a), such prepayment shall not
be applied to the Revolving Loans of a Defaulting Lender; (vi) subject to any waiver of prepayment
pursuant to Section 5.02(j), each voluntary prepayment of Term Loans made pursuant to this Section
5.01(a) shall be applied to the A Term Loans and B Term Loans on a pro rata basis
(with the A TL Percentage of the aggregate amount of such prepayment to be applied as a prepayment
of the A Term Loans and the B TL Percentage of the aggregate amount of such prepayment to be
applied as a prepayment of the B Term Loans); (vii) no voluntary prepayments of Revolving Loans
shall be permitted at any time unless there are no Swingline Loans outstanding or simultaneously
with the repayment of Revolving

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Loans, all Swingline Loans then outstanding will be repaid; and
(viii) subject to any waiver of prepayment pursuant to Section 5.02(j), each voluntary prepayment
of A Term Loans and B Term Loans pursuant to this Section 5.01(a) shall be applied (x) first to
reduce, in direct order of maturity those Scheduled Repayments which will be due and payable within
24 months after the date the respective prepayment is made and (y) second, to the extent the amount
to be applied to Term Loans of a given Tranche exceeds the amount to be applied pursuant to
preceding clause (x), to reduce the then remaining Scheduled Repayments of the respective Tranche
pro rata based upon the then remaining amounts of the Scheduled Repayments of the
respective Tranche after giving effect to all prior reductions and/or increases thereto.

          (b) In the event of certain refusals by a Lender as (and to the extent) provided in Section
13.12(b) to consent to certain proposed changes, waivers, discharges or terminations with respect
to this Agreement which have been approved by the Required Lenders, the Borrower may, upon five
Business Days’ prior written notice to the Administrative Agent at its Notice Office (which notice
the Administrative Agent shall promptly transmit to each of the Lenders) repay all Loans, together
with accrued and unpaid interest, Fees, and other amounts (including any amounts payable under
Section 2.11) owing to such Lender (or, at the option of the Borrower, owing to such Lender with
respect to each Tranche which gave rise to the need to obtain such Lender’s individual consent) in
accordance with and subject to the requirements of said Section 13.12(b) so long as (A) in the case
of the repayment of Revolving Loans of any Lender pursuant to this Section 5.01(b), (x) the
Revolving Loan Commitment of such Lender is terminated concurrently with such repayment pursuant to
Section 4.02(b) (at which time Schedule 2.01 shall be deemed modified to reflect the changed
Revolving Loan Commitments) and (y) such Lender’s RL percentage of all outstanding Letters of
Credit is cash collateralized in a manner satisfactory to the Administrative Agent and the
respective Issuing Lenders, and (B) the consents, if any, required by Section 13.12(b) in
connection with the repayment pursuant to this Section 5.01(b) shall have been obtained. Any
repayment of any Tranche of Term Loans pursuant to this clause (b) shall only apply to reduce the
then remaining Scheduled Repayments of such Tranche to the extent the Term Loans so repaid are not
replaced pursuant to Section
13.12(b), and with any such reductions to reduce the then remaining Scheduled Repayments of
the respective Tranche pro rata based upon the then remaining principal amounts of
the Scheduled Repayments of the respective Tranche after giving effect to all prior reductions
thereto unless otherwise specifically agreed to by the Required Lenders.

          5.02 Mandatory Repayments and Commitment Reductions. (a) On any day on which the sum
of (I) the aggregate outstanding principal amount of all Revolving Loans (after giving effect to
all other repayments thereof on such date), (II) the aggregate outstanding principal amount of all
Swingline Loans (after giving effect to all other repayments thereof on such date) and (III) the
aggregate amount of all Letter of Credit Outstandings exceeds the Total Revolving Loan Commitment
at such time, the Borrower shall prepay on such day the principal of Swingline Loans and, after all
Swingline Loans have been repaid in full or if no Swingline Loans are outstanding, Revolving Loans
in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding
Swingline Loans and Revolving Loans, the aggregate amount of the Letter of Credit Outstandings
exceeds the Total Revolving Loan Commitment at such time, the Borrower shall pay to the
Administrative Agent at the Payment Office on such day an amount of cash and/or Cash Equivalents
equal to the amount of such excess (up to a maximum amount equal to the Letter of Credit
Outstandings at such time), such cash and/or

69

 

Cash Equivalents to be held as security for all
Obligations of the Borrower to the Issuing Lenders and the Lenders hereunder in a cash collateral
account to be established by the Administrative Agent. So long as no Default or Event of Default
is then continuing, such cash and Cash Equivalents, if any, shall be released to the Borrower to
the extent that the amount of such cash and Cash Equivalents, if any, exceeds the Letter of Credit
Outstandings.

          (b) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 5.02, on each date set forth below the Borrower shall be required to repay that principal
amount of A Term Loans, to the extent then outstanding, equal to that percentage set forth opposite
such date multiplied by the aggregate principal amount of A Term Loans outstanding on the Initial
Borrowing Date (each such repayment as the same may be reduced as provided in Section 5.01(a),
5.01(b) or 5.02(h), a “Scheduled A Term Loan Repayment”):

	 	 	 	 	 
	 	 	Percentage of A Term Loan
	Schedule A Term Loan Repayment Date	 	Reference Amount
	June 30, 2012
	 	 	1.25	%
	September 30, 2012
	 	 	1.25	%
	December 31, 2012
	 	 	1.25	%
	March 31, 2013
	 	 	1.25	%
	June 30, 2013
	 	 	3.75	%
	September 30, 2013
	 	 	3.75	%
	December 31, 2013
	 	 	3.75	%
	March 31, 2014
	 	 	3.75	%
	June 30, 2014
	 	 	5.00	%
	September 30, 2014
	 	 	5.00	%
	December 31, 2014
	 	 	5.00	%
	March 31, 2015
	 	 	5.00	%
	June 30, 2015
	 	 	15.00	%
	September 30, 2015
	 	 	15.00	%
	December 31, 2015
	 	 	15.00	%
	A Term Loan Maturity Date
	 	 	15.00	%

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; provided that A Term Loans and all other amounts owed hereunder with respect to the A
Term Loans shall be paid in full no later than the A Term Loan Maturity Date, and the final
installment payable by the Borrower in respect of the A Term Loans on such date shall be in an
amount, if such amount is different from that specified above, sufficient to repay all amounts
owing by the Borrower under this Agreement with respect to the A Term Loans.

          (c) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 5.02, on each date set forth below the Borrower shall be required to repay that principal
amount of B Term Loans equal to that percentage set forth opposite such date multiplied by the
aggregate principal amount of B Term Loans outstanding on the Initial Borrowing Date (each such
repayment as the same may be reduced as provided in Section 5.01(a), 5.01(b) or 5.02(h), a
“Scheduled B Term Loan Repayment”):

	 	 	 	 	 
	 	 	Percentage of B Term Loan
	Schedule B Term Loan Repayment Date	 	Reference Amount
	June 30, 2011
	 	 	0.25	%
	September 30, 2011
	 	 	0.25	%
	December 31, 2011
	 	 	0.25	%
	March 31, 2012
	 	 	0.25	%
	June 30, 2012
	 	 	0.25	%
	September 30, 2012
	 	 	0.25	%
	December 31, 2012
	 	 	0.25	%
	March 31, 2013
	 	 	0.25	%
	June 30, 2013
	 	 	0.25	%
	September 30, 2013
	 	 	0.25	%
	December 31, 2013
	 	 	0.25	%
	March 31, 2014
	 	 	0.25	%
	June 30, 2014
	 	 	0.25	%
	September 30, 2014
	 	 	0.25	%

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	 	 	Percentage of B Term Loan
	Schedule B Term Loan Repayment Date	 	Reference Amount
	December 31, 2014
	 	 	0.25	%
	March 31, 2015
	 	 	0.25	%
	June 30, 2015
	 	 	0.25	%
	September 30, 2015
	 	 	0.25	%
	December 31, 2015
	 	 	0.25	%
	March 31, 2016
	 	 	0.25	%
	June 30, 2016
	 	 	0.25	%
	September 30, 2016
	 	 	0.25	%
	December 31, 2016
	 	 	0.25	%
	March 31, 2017
	 	 	0.25	%
	June 30, 2017
	 	 	0.25	%
	September 30, 2017
	 	 	0.25	%
	December 31, 2017
	 	 	0.25	%
	B Term Loan Maturity Date
	 	 	93.25	%

; provided that B Term Loans and all other amounts owed hereunder with respect to the B
Term Loans shall be paid in full no later than the B Term Loan Maturity Date, and the final
installment payable by the Borrower in respect of the B Term Loans on such date shall be in an
amount, if such amount is different from that specified above, sufficient to repay all amounts
owing by the Borrower under this Agreement with respect to the B Term Loans.

          (d) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 5.02, by no later than the Business Day immediately following each date after the Initial
Borrowing Date upon which the Borrower or any of its Subsidiaries receives any proceeds from any
incurrence by the Borrower or any of its Subsidiaries of Indebtedness for borrowed money (other
than Indebtedness for borrowed money permitted to be incurred pursuant to Section 10.04), an amount
equal to 100% of the cash proceeds of the respective incurrence of Indebtedness (net of all
reasonable costs associated therewith, including, without limitation, all due diligence costs and
expenses paid for, or reimbursed by, the Borrower and/or any of its Subsidiaries, any underwriting,
agency, structuring or similar fees, discounts and commissions, attorneys’ fees and expenses paid
for, or reimbursed by, the Borrower and/or any of its Subsidiaries, all financing and/or commitment
fees and other costs associated therewith) shall be

72

 

applied as a mandatory repayment of principal
of outstanding Term Loans in accordance with the requirements of Sections 5.02(h) and (j).

          (e) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 5.02, by no later than the fifth Business Day following each date after the Initial
Borrowing Date upon which the Borrower or any of its Subsidiaries receives proceeds from any Asset
Sale, an amount equal to 100% of the Net Asset Sale Proceeds therefrom shall be applied as a
mandatory repayment of principal of outstanding Term Loans in accordance with the requirements of
Sections 5.02(h) and (j); provided that the Net Asset Sale Proceeds from Asset Sales shall
not be required to be used to so repay Term Loans to the extent the Borrower elects, as hereinafter
provided, to cause such Net Asset Sale Proceeds to be reinvested in Reinvestment Assets (a
“Reinvestment Election”). The Borrower may exercise its Reinvestment Election (within the
parameters specified in the preceding sentence) with respect to an Asset Sale if the Borrower
delivers a Reinvestment Notice to the Administrative Agent within five Business Days following the
date of the consummation of the respective Asset Sale, with such Reinvestment Election being
effective with respect to the Net Asset Sale Proceeds of such Asset Sale equal to the Anticipated
Reinvestment Amount specified in such Reinvestment Notice and, provided, that (i) if a
Default or Event of Default exists, pending such reinvestment (or an exercise of remedies by the
Administrative Agent), such Net Asset Sale Proceeds should be deposited in a deposit account
subject to the control of the Collateral Agent as security for the Obligations and (ii) if all or
any portion of such Net Asset Sale Proceeds not applied to the repayment of Term Loans due to a
Reinvestment Election are not so used within 365 days after the date of receipt of such Net Asset
Sale Proceeds (or 450 days to the extent that, upon expiration of such 365 day period, such
proceeds are committed (pursuant to binding commitments with third parties) to be used to complete
such replacement or restoration), then such remaining portion not used shall be applied on the date
which is 365 days (or 450 days) following the date of receipt of such Net Asset Sale Proceeds as a
mandatory repayment of principal of outstanding Term Loans in accordance with the requirements of
Sections 5.02(h) and (j). At the time of the acquisition of any Reinvestment Assets, the Borrower
shall comply and shall cause its Subsidiaries to comply with Section 9.11, to the extent
applicable.

          (f) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 5.02, within five Business Days following each date on or after the Initial Borrowing Date
upon which the Borrower or any of its Subsidiaries receives any cash proceeds from any Recovery
Event (other than an Excluded Recovery Event), an amount equal to 100% of the Net Insurance
Proceeds from such Recovery Event shall be applied as a mandatory repayment of principal of
outstanding Term Loans; provided, that Net Insurance Proceeds shall not be required to be
used to so repay Term Loans to the extent the Borrower makes a Reinvestment Election. The Borrower
may exercise its Reinvestment Election with respect to a Recovery Event if the Borrower delivers a
Reinvestment Notice to the Administrative Agent within five Business Days following the date of
receipt of Net Insurance Proceeds from such Recovery Event, with such Reinvestment Election being
effective with respect to the Net Insurance Proceeds of such Recovery Event equal to the
Anticipated Reinvestment Amount specified in such Reinvestment Notice; provided, that (i)
if a Default or Event of Default exists, pending such reinvestment (or an exercise of remedies by
the Administrative Agent), such Net Insurance Proceeds should be deposited in a deposit account
subject to the control of the Collateral Agent as security for the Obligations and (ii) if all or
any

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portion of the Net Insurance Proceeds from a Recovery Event not applied to the repayment of
Term Loans due to a Reinvestment Election are not so used within 365 days after the date of receipt
of such Net Insurance Proceeds (or 720 days to the extent that, upon expiration of such 365 day
period, such proceeds are committed (pursuant to binding commitments with third parties) to be used
to complete such replacement or restoration), then such remaining portion not used shall be applied
on the date which is 365 days (or 720 days) following the date of receipt of such Net Insurance
Proceeds as a mandatory repayment of principal of outstanding Term Loans in accordance with the
requirements of Sections 5.02(h) and (j). At the time of the acquisition of any Reinvestment
Assets, the Borrower shall comply and shall cause its Subsidiaries to comply with Section 9.11, to
the extent applicable.

          (g) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 5.02, on each Excess Cash Payment Date, an amount equal to the Applicable Excess Cash Flow
Percentage of the Excess Cash Flow for the related Excess Cash Payment Period shall be applied as a
mandatory repayment of Term Loans in accordance with the requirements of Sections 5.02(h) and (j);
provided that repayments of principal of Loans made as a voluntary prepayment pursuant to
Section 5.01 with internally generated funds (but in the case of a voluntary prepayment of
Revolving Loans or Swingline Loans, only to the extent accompanied by a voluntary reduction to the
Total Revolving Loan Commitment in an amount equal to such prepayment) during the applicable Excess
Cash Payment Period shall reduce on a dollar-for-dollar basis the amount of such mandatory
repayment and/or commitment reduction otherwise required on the applicable Excess Cash Payment Date
pursuant to this Section 5.02(g).

          (h) Notwithstanding anything to the contrary contained in this Section 5.02, no mandatory
repayment of Term Loans shall be required pursuant to Section 5.02(e) or (f) until the date on
which the aggregate amount of all Net Asset Sale Proceeds and Net Insurance Proceeds required to be
applied as mandatory repayments of Term Loans in the absence of this sentence equals or exceeds
$20,000,000. Subject to Section 5.02(j), each amount required to be applied to repay Term Loans
(or to reduce the Total Term Loan Commitment) pursuant to Sections 5.02(d), (e), (f) and (g) shall
be applied to each Tranche of Term Loans on a pro rata basis. After giving effect
to the allocation amongst Tranches required by the immediately
preceding sentence, each amount required to be applied to Term Loans of a given Tranche shall
be applied (i) first, to reduce in direct order of maturity those Scheduled Repayments
which will be due and payable within 24 months after the date the respective prepayment is made
pursuant to said Sections 5.02(d), (e), (f) and/or (g) and (ii) second, to the extent the
amount to be applied to Term Loans of a given Tranche exceeds the amount to be applied pursuant to
preceding clause (i), to reduce the then remaining Scheduled Repayments of the respective Tranche
pro rata based upon the then remaining amounts of the Scheduled Repayments of the
respective Tranche after giving effect to all prior reductions and/or increases thereto.

          (i) With respect to each repayment of Loans required by this Section 5.02, the Borrower may
designate the Types of Loans of the respective Tranche which are to be repaid and, in the case of
Eurodollar Loans, the specific Borrowing or Borrowings of the respective Tranche pursuant to which
made; provided that: (i) repayments of Eurodollar Loans pursuant to this Section 5.02 may
only be made on the last day of an Interest Period applicable thereto unless all Eurodollar Loans
of the respective Tranche with Interest Periods ending on such date of required repayment and all
Base Rate Loans of the respective Tranche have been paid in full; (ii)

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if any repayment of
Eurodollar Loans made pursuant to a single Borrowing under a Tranche shall reduce the outstanding
Eurodollar Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing
Amount for such Tranche, such Borrowing shall be converted at the end of the then current Interest
Period into a Borrowing of Base Rate Loans; and (iii) each repayment of any Loans made pursuant to
a Borrowing shall be applied pro rata among the Lenders which made such Loans. In
the absence of a designation by the Borrower as described in the preceding sentence, the
Administrative Agent shall, subject to the above, make such designation in its sole discretion with
a view, but no obligation, to minimize breakage costs owing under Section 2.11.

          (j) Notwithstanding anything to the contrary contained in Section 5.01, this Section 5.02 or
elsewhere in this Agreement, the Borrower shall have the option, in its sole discretion, to give
the Lenders with outstanding B Term Loans the option to waive a voluntary prepayment or mandatory
repayment of such Term Loans pursuant to Section 5.01 or Sections 5.02(d), (e), (f) and/or (g)
(each such prepayment or repayment, a “Waivable Repayment”). If the Borrower elects to
exercise the option referred to in the preceding sentence, the Borrower shall give to the
Administrative Agent written notice of its intention to give the Lenders of the B Term Loan Tranche
the right to waive a Waivable Repayment at least five Business Days prior to such repayment, which
notice the Administrative Agent shall promptly forward to all B Term Loan Lenders (indicating in
such notice the amount of such repayment to be applied to each such Lender’s outstanding B Term
Loans). Any offer by the Borrower to permit such Lenders to waive any such Waivable Repayment may
apply to all or part of such repayment; provided that (x) any offer to waive part of such
repayment must be made ratably to such B Term Loan Lenders on the basis of their outstanding B Term
Loans and (y) no Lender may waive any voluntary prepayment or mandatory repayment if the effect of
such waiver would be to reduce the A Term Loans to less than $0. In the event any such Lender
desires to waive such Lender’s right to receive any such Waivable Repayment in whole or in part,
such Lender shall so advise the Administrative Agent no later than the close of business two
Business Days after the date of such notice from the Administrative Agent, which notice shall also
include the amount such Lender desires to receive in respect of such repayment. If any Lender does
not reply to the Administrative Agent within the aforementioned two Business Day period, such
Lender will be
deemed not to have waived any part of such repayment. If any Lender replies to the
Administrative Agent but does not specify an amount such Lender wishes to receive, it will be
deemed to have waived 100% of the amount of its share of such payment. In the event that any such
Lender waives all or part of such right to receive any such Waivable Repayment, the amount so
waived shall be applied to the repayment of the A Term Loans in accordance with Section 5.01 or
Sections 5.02(h) and (i), as applicable.

          5.03 Method and Place of Payment. Except as otherwise specifically provided herein,
all payments under this Agreement or any Note shall be made to the Administrative Agent for the
account of the Lender or Lenders entitled thereto not later than 12:00 Noon (New York City time)
(or 1:00 p.m. (New York City time) in the case of Swingline Loans) on the date when due and shall
be made in Dollars in immediately available funds at the Payment Office of the Administrative
Agent. Whenever any payment to be made hereunder or under any Note shall be stated to be due on a
day which is not a Business Day, the due date thereof shall be extended to the next succeeding
Business Day and, with respect to payments of principal, interest shall be payable at the
applicable rate during such extension.

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          5.04 Net Payments (a) All payments made by the Borrower hereunder or under any
Note will be made without set-off, counterclaim or other defense. Except as provided in Section
5.04(b), all such payments will be made free and clear of, and without deduction or withholding
for, any present or future taxes, levies, imposts, duties, fees, assessments or other charges of
whatever nature now or hereafter imposed by any jurisdiction or by any political subdivision or
taxing authority thereof or therein with respect to such payments (but excluding, except as
provided in the second succeeding sentence, (i) any tax imposed on or measured by the net income,
overall gross income, or net profits of a Lender, or any franchise tax based on the net income,
overall gross income, or net profits of a Lender, in each case pursuant to the laws of the
jurisdiction in which it is organized or in which the principal office or applicable lending
office of such Lender is located or any subdivision thereof or therein and (ii) any United States
federal withholding tax imposed pursuant to FATCA, (iii) any branch profits taxes or similar
taxes imposed on a Lender, (iv) any U.S. withholding taxes that are imposed as a result of such
Lender’s failure to comply with Section 5.04(b), and (v) any taxes, unless such taxes result from
a change in or adoption of any applicable law, treaty, governmental rule, regulation, guideline
or order, or in the interpretation thereof, occurring (x) after the date the Lender becomes a
party to this Agreement, or (y) in the case of an assignment or designation of a new lending
office, the effective date of such assignment or designation, except to the extent the assignor,
or the Lender in respect of its prior lending office, as the case may be, was entitled to any
additional payments under this Section 5.04(a) under the laws in effect immediately prior to the
assignment to such assignee or the designation of the new lending office, as the case may be (all
such amounts referred to in clauses (i) through (v) of this Section 5.04(a) being referred to
collectively as “Excluded Taxes”)) and all interest, penalties or similar liabilities with
respect to such taxes, levies, imposts, duties, fees, assessments or other charges that are not
Excluded Taxes (all such taxes, levies, imposts, duties, fees, assessments or other charges that
are not Excluded Taxes being referred to collectively as “Taxes”). Except as provided in Section
5.04(b), if any Taxes are so levied or imposed, the Borrower agrees to pay the full amount of
such Taxes, and such additional amounts as may be necessary so that every payment of all amounts
due under this Agreement or under any Note, after withholding or deduction for or on account of
any Taxes, will not be less than the amount provided for herein or in such Note. If any amounts
are payable in respect of Taxes pursuant to the preceding sentence of this Section 5.04(a), then
the Borrower agrees to reimburse each Lender, upon the written request of such Lender, for taxes
imposed on or measured by the net income or net profits of such Lender, or any franchise tax
based on the net income or net profits of such Lender, in either case pursuant to the laws of the
jurisdiction in which such Lender is organized or in which the principal office or applicable
lending office of such Lender is located or under the laws of any political subdivision or taxing
authority of any such jurisdiction in which such Lender is organized or in which the principal
office or applicable lending office of such Lender is located and for any withholding of income
or similar taxes as such Lender shall determine are payable by, or withheld from, such Lender in
respect of such amounts so paid to or on be
half of such Lender pursuant to the preceding sentence
and in respect of any amounts paid to or on behalf of such Lender pursuant to this sentence. The
Borrower will furnish to the Administrative Agent within 45 days after the date the payment of
any Taxes is due pursuant to applicable law certified copies of tax receipts evidencing such
payment by the Borrower. The Borrower agrees to indemnify and hold harmless each Lender, and
reimburse such Lender upon its written request, for the

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amount of any Taxes that arise from the failure of the Borrower to pay any Taxes when due to
the appropriate Tax authority and that become payable by the Administrative Agent or any Lender
as a result of any such failure.

          (b) Each Lender agrees to deliver to the Borrower and the Administrative Agent on or prior to
the Effective Date, or in the case of a Lender that is an assignee or transferee of an interest
under this Agreement pursuant to Sections 2.13, 2.15 or 13.04 (unless the respective Lender was
already a Lender hereunder immediately prior to such assignment or transfer), on the date of such
assignment or transfer to such Lender, (i) in the event such Lender is not a United States person
(as such term is defined in Section 7701(a)(30) of the Code) (each a “Foreign Lender”) for U.S.
Federal income tax purposes, (x) two accurate and complete original signed copies of Internal
Revenue Service Form W-8ECI or Form W-8BEN (with respect to a complete exemption under an income
tax treaty) (or successor forms) certifying to such Lender’s entitlement to a complete exemption
from or reduction in United States withholding tax with respect to payments to be made under this
Agreement and under any Note, or (y) if the Lender is claiming the benefits of the exemption for
portfolio interest under Section 871(h) or Section 881(c) of the Code, (I) a certificate
substantially in the form of Exhibit D (any such certificate, a “Section 5.04(b)(ii) Certificate”)
and (II) two accurate and complete original signed copies of Internal Revenue Service Form W-8BEN
certifying to such Lender’s entitlement to a complete exemption from United States withholding tax
with respect to payments of interest to be made under this Agreement, and (ii) in the event such
Lender is a United States person as defined in Section 7701(a)(3) of the Code, two accurate and
complete original signed copies of Internal Revenue Service Form W-9 certifying that such Lender is
a United States person and is entitled to a complete exemption from United States backup
withholding tax, in each case (except as otherwise provided), with respect to payments to be made
under this Agreement and under any Note. In addition, each Foreign Lender shall, in the case of
any payment made after December 31, 2012 in respect of any Loan, Letters of Credit, Note or
Obligation that was not treated as outstanding for purposes of FATCA on March 18, 2012, provide any
forms, documentation, or other information as shall be prescribed by the IRS to demonstrate that
the relevant Lender has complied with the applicable reporting requirements of FATCA so that such
payments made to such Lender hereunder would not be subject to U.S. federal withholding taxes
imposed by FACTA. In addition, each Lender agrees that from time to time after the Effective Date,
when a lapse in time or change in circumstances (including, without limitation, the grant or
termination of a participation interest) renders the previous certification obsolete, incomplete or
inaccurate in any material respect, it will deliver to the Borrower and the Administrative Agent
two new accurate and complete original signed copies of Internal Revenue Service Form W-9, Form
W-8ECI, Form W-8BEN (with respect to the benefits of any income tax treaty), or Form W-8BEN (with
respect to the portfolio interest exemption), Form W-8IMY (and any related required Form W-8BEN)
and a Section 5.04(b)(ii) Certificate, as the case may be, and such other forms as may be required
in order to confirm or establish the entitlement of such Lender to a continued exemption from or
reduction in United States withholding tax with respect to payments under this Agreement and any
Note, or it shall immediately notify the Borrower and the Administrative Agent of its inability to
deliver any such form or Certificate, in which case such Lender shall not be required to deliver
any such form or Certificate pursuant to this Section 5.04(b). Notwithstanding anything to the
contrary contained in Section 5.04(a), but subject to the immediately succeeding sentence, the
Borrower shall be entitled, to the extent it is required to do so by law, to deduct or withhold any
taxes imposed by the United States (or any political

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subdivision or taxing authority thereof or therein) from interest, fees or other amounts payable
hereunder for the account of any Lender for U.S. Federal income tax purposes to the extent that
such Lender has not provided to the Borrower U.S. Internal Revenue Service Forms that establish a
complete exemption from such deduction or withholding. Notwithstanding anything to the contrary
contained in the preceding sentence or elsewhere in this Section 5.04 and except as set forth in
Section 13.04(b), the Borrower agrees to pay additional amounts and to indemnify each Lender in the
manner set forth in Section 5.04(a) (without regard to the identity of the jurisdiction requiring
the deduction or withholding) in respect of any amounts deducted or withheld by it as described in
the immediately preceding sentence as a result of any changes after the Effective Date in any
applicable law, treaty, governmental rule, regulation, guideline or order, or in the interpretation
thereof, relating to the deducting or withholding of such Taxes; provided that the Lender complies
with the foregoing provisions of this Section 5.04(b) with respect to providing forms and
certificates.

          (c) If the Borrower pays any additional amount under this Section 5.04 to a Lender and such
Lender determines in its sole discretion that it has actually received or realized in connection
therewith any refund or any reduction of, or credit against, its Tax liabilities in or with respect
to the taxable year in which the additional amount is paid (a “Tax Benefit”), such Lender
shall pay to the Borrower an amount that the Lender shall, in its sole discretion, determine is
equal to the net benefit, after tax, which was obtained by the Lender in such year as a consequence
of such Tax Benefit; provided, however, that (i) any Lender may determine, in its sole discretion
consistent with the policies of such Lender, whether to seek a Tax Benefit; (ii) any Taxes that are
imposed on a Lender as a result of a disallowance or reduction (including through the expiration of
any tax credit carryover or carryback of such Lender that otherwise would not have expired) of any
Tax Benefit with respect to which such Lender has made a payment to the Borrower pursuant to this
Section 5.04(c) shall be treated as a Tax for which the Borrower is obligated to indemnify such
Lender pursuant to this Section 5.04 without any exclusions or defenses; and (iii) nothing in this
Section 5.04(c) shall require the Lender to disclose any confidential information to the Borrower
(including, without limitation, its tax returns).

          SECTION 6. Conditions Precedent to Credit Events on the Initial Borrowing Date. The
obligation of each Lender to make Loans and to participate in Letters of Credit, and the
obligations of each Issuing Lender to issue Letters of Credit, in each case on the Initial
Borrowing Date is subject, at the time of such Credit Event, to the satisfaction of the following
conditions:

          6.01 Execution of Agreement; Notes. On or prior to the Initial Borrowing Date (i) the
Effective Date shall have occurred and (ii) there shall have been delivered to the Administrative
Agent for the account of each of the Lenders which has requested the same at least three Business
Days prior to the Effective Date, the appropriate Note or Notes executed by the Borrower, in each
case in the amount, maturity and as otherwise provided herein.

          6.02 Fees, etc. On the Initial Borrowing Date, the Borrower shall have paid to the
Administrative Agent and the Lenders all reasonable costs, fees and expenses (including, without
limitation, reasonable legal fees and expenses to the extent invoiced) payable to the
Administrative Agent and the Lenders to the extent then due.

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          6.03 Opinions of Counsel. On the Initial Borrowing Date, the Administrative Agent
shall have received (i) from Gibson, Dunn & Crutcher LLP, special counsel to the Borrower and its
Subsidiaries, an opinion addressed to the Administrative Agent and each of the Lenders and dated
the Initial Borrowing Date covering the matters set forth in Exhibit E, (ii) from local counsel
satisfactory to the Administrative Agent, opinions which in each case shall be in form and
substance reasonably satisfactory to the Administrative Agent and shall cover the perfection of the
security interests granted pursuant to the Security Agreement, the validity of the liens under the
Mortgages, in each case to the extent granted on the Initial Borrowing Date, and such other matters
incident to the transactions contemplated herein as the Administrative Agent may reasonably request
and (iii) from local gaming counsel reasonably satisfactory to the Administrative Agent, opinions
which in each case shall be in form and substance reasonably satisfactory to the Administrative
Agent and shall cover Colorado, Missouri, Nevada, Mississippi, Iowa and Indiana Gaming Regulations
and such other matters incident to the transactions contemplated herein as the Administrative Agent
may reasonably request.

          6.04 Corporate Documents; Proceedings; etc. (a) On the Initial Borrowing Date, the
Administrative Agent shall have received a certificate, dated the Initial Borrowing Date, signed by
an Authorized Officer of each Credit Party, and attested to by the Secretary or any Assistant
Secretary of such Credit Party, all in the form of Exhibit F with appropriate insertions, together
with copies of the Certificate or Articles of Incorporation and By-Laws or equivalent governing
documents of such Credit Party, as the case may be, and the resolutions, or such other
administrative approval, of such Credit Party, as the case may be, referred to in such certificate,
and the foregoing shall be reasonably acceptable to the Administrative Agent.

          (b) On the Initial Borrowing Date, the Administrative Agent shall have received all
information and copies of all documents and papers, including governmental approvals, good standing
certificates and bring-down telegrams or facsimiles, if any, of or with respect to the Credit
Parties which the Administrative Agent reasonably may have requested in connection therewith, such
documents and papers where appropriate to be certified by proper corporate or governmental
authorities.

          6.05 Refinancing; Indebtedness. (a) On or prior to the Initial Borrowing Date, the
total commitments pursuant to the Existing Credit Agreement shall have been terminated, and all
loans and notes with respect thereto shall have been repaid in full (together with interest
thereon) and all other amounts owing pursuant to the Existing Credit Agreement shall have been
repaid in full (the “Refinancing”). The creditors in respect of the Existing Credit
Agreement shall have terminated and released all security interests in and Liens on the assets of
Borrower and its Subsidiaries created pursuant to the security documentation relating to the
Existing Credit Agreement, and such creditors shall have returned all assets (if any) in their
possession pursuant to the security documentation relating to the Existing Credit Agreement to the
Borrower, and the Administrative Agent shall have received evidence, in form and substance
reasonably satisfactory to the Administrative Agent, that the matters set forth in this Section
6.05 have been satisfied as of the Initial Borrowing Date.

          (b) On or prior to the Initial Borrowing Date, the initial stage of the Existing Senior Notes
Repurchase shall have been consummated and the Administrative Agent shall have

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received evidence to the effect thereof in form and substance reasonably satisfactory to the
Administrative Agent.

          (c) On or prior to the Initial Borrowing Date, the Existing Senior Notes Indenture Amendment
shall be in full force and effect and the Administrative Agent shall have received evidence to such
effect in form and substance reasonably satisfactory to the Administrative Agent.

          (d) On the Initial Borrowing Date, the Borrower and its Subsidiaries shall have no outstanding
preferred equity or Indebtedness, except for Indebtedness incurred pursuant to (i) this Agreement,
(ii) the Outstanding Existing Senior Notes, (iii) the Senior Notes and (iv) Indebtedness permitted
by Section 10.04.

          6.06 Pledge Agreement. On the Initial Borrowing Date, each Credit Party shall have
duly authorized, executed and delivered a Pledge Agreement in the form of Exhibit G (such Pledge
Agreement, as amended, modified, extended, renewed, replaced, restated or supplemented from time to
time, the “Pledge Agreement”) and shall have delivered to the Collateral Agent, as Pledgee,
all the Pledge Agreement Collateral referred to therein then owned by such Credit Party, (x)
endorsed in blank in the case of promissory notes constituting Pledge Agreement Collateral and (y)
together with executed and undated endorsements for transfer in the case of Equity Interests
constituting certificated Pledge Agreement Collateral, along with evidence that all other actions
necessary or, in the reasonable opinion of the Collateral Agent, desirable, to perfect the security
interests purported to be created by the Pledge Agreement have been taken and the Pledge Agreement
shall be in full force and effect; provided that the pledge and delivery of the
certificates evidencing the Equity Interests of each of the Post-Closing Entities will not be
required to be made on the Initial Borrowing Date but will be subject to delivery pursuant to
Section 13.19.

          6.07 Security Agreement. On the Initial Borrowing Date (except to the extent
permitted by Section 13.19 to occur post-Closing), each Credit Party shall have duly authorized,
executed and delivered a Security Agreement in the form of Exhibit H (as amended, modified,
extended, renewed, replaced, restated or supplemented from time to time, the “Security
Agreement”) covering all of such Credit Party’s present and future Security Agreement
Collateral, together with:

          (a) properly completed Financing Statements (Form UCC-1) of each of the Credit Parties for
filing with the Secretary of State or other applicable Governmental Authority in the jurisdiction
of incorporation or organization of such Credit Party;

          (b) certified copies of Requests for Information or Copies (Form UCC-11), or equivalent
reports, listing all effective financing statements that name the Borrower or any of its
Subsidiaries as debtor and that are filed in the jurisdictions referred to in clause (a) above,
together with copies of such other financing statements (none of which shall cover the Collateral
except to the extent evidencing Permitted Liens or in respect of which the Collateral Agent shall
have received termination statements (Form UCC-3) or such other termination statements as shall be
required by local law);

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          (c) except for any items permitted to be delivered post-Closing pursuant to Section 13.19 or
the Security Agreement, evidence of the completion (or that such completion will occur within 10
days of the Initial Borrowing Date) of all other recordings and filings of, or with respect to, the
Security Agreement as may be necessary or, in the reasonable opinion of the Collateral Agent,
desirable to perfect the security interests intended to be created by the Security Agreement; and

          (d) except for any items permitted to be delivered post-Closing pursuant to Section 13.19 or
the Security Agreement, evidence that all other actions necessary or, in the reasonable opinion of
the Collateral Agent, desirable to perfect and protect the security interests purported to be
created by the Security Agreement have been taken or will be taken within 10 days of the Initial
Borrowing Date.

          6.08 Mortgages; Title Insurance; etc. On the Initial Borrowing Date (except to the
extent permitted by Section 13.19 to occur post-Closing), the Collateral Agent shall have received:

          (a) duly authorized, fully executed, acknowledged, and delivered deeds of trust, mortgages,
leasehold deeds of trust or leasehold mortgages substantially in the form of Exhibit I (as amended,
modified, extended, renewed, replaced, restated or supplemented from time to time, each a
“Mortgage” and collectively, the “Mortgages”), which Mortgages shall cover such of
the Real Property owned or leased by each Credit Party as shall be designated as such on Schedule
8.11(c) as a mortgaged property thereunder (each, a “Mortgaged Property” and collectively,
the “Mortgaged Properties”), together with evidence that counterparts of the Mortgages have
been delivered to the title insurance company insuring the Lien of the Mortgages for recording in
all places to the extent necessary or, in the reasonable opinion of the Collateral Agent, desirable
to effectively create a valid and enforceable Lien on each Mortgaged Property in favor of the
Collateral Agent (or such other trustee as may be required or desired under local law) for the
benefit of the Secured Creditors;

          (b) duly authorized, fully executed, acknowledged, and delivered subordination, nondisturbance
and attornment agreements, assignments of leases, landlord consents, tenant estoppel certificates,
and such other documents relating to the Mortgages that the Collateral Agent may reasonably
request;

          (c) extended coverage policies of mortgage title insurance covering each Mortgaged Property,
together with all endorsements reasonably requested by the Collateral Agent relating thereto issued
by title insurers reasonably satisfactory to the Collateral Agent (the “Mortgage Policies”)
in amounts reasonably satisfactory to the Administrative Agent (but not in excess of the value of
the respective Mortgaged Property and which in the aggregate shall not exceed $1,400,000,000
subject to increase for any Incremental Loans issued under Section 2.15) assuring the
Collateral Agent that the Mortgages on such Mortgaged Properties are valid and enforceable first
priority mortgage liens on the respective Mortgaged Properties, free and clear of all defects and
encumbrances except Permitted Encumbrances and such Mortgage Policies shall otherwise be in form
and substance reasonably satisfactory to the Administrative Agent and shall include, as appropriate
and to the extent available, an endorsement for future advances under this Agreement and the Notes
and for any other matter that the Collateral Agent in its reasonable

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discretion may reasonably request, shall not include an exception for mechanics’ liens, and
shall provide for affirmative insurance (to the extent available) and such reinsurance as the
Collateral Agent in its discretion may reasonably request;

          (d) a survey of each Mortgaged Property (and all improvements thereon) or update to an
existing survey (i) prepared by a surveyor or engineer licensed to perform surveys in the state
where such Mortgaged Property is located, (ii) certified by the surveyor (in a manner reasonably
acceptable to the Collateral Agent) to the Collateral Agent in its capacity as such and the title
company, (iii) complying in all respects with the minimum detail requirements of the American Land
Title Association as such requirements are in effect on the date of preparation of such survey, and
(iv) sufficient for the title company to remove all standard survey exceptions from the Mortgage
Policy relating to such Mortgaged Property and issue the Mortgage Policies and endorsements
required pursuant to the provisions of Section 6.08(c) above; and

          (e) flood certificates covering each Mortgaged Property in form and substance reasonably
satisfactory to the Administrative Agent, certified to the Collateral Agent in its capacity as
such, stating whether or not each such Mortgaged Property is located in a flood hazard area, as
determined by designation of each such Mortgaged Property in a specified flood hazard zone by
reference to the applicable FEMA map.

          6.09 Subsidiary Guaranty. On the Initial Borrowing Date, except for Ameristar Casino
Council Bluffs, Inc. (the Subsidiary Guaranty of which will be delivered after the Initial Borrower
Date as described in Section 13.19), each Subsidiary Guarantor shall have executed and delivered a
guaranty agreement, substantially in the form of Exhibit J (as amended, modified, extended,
renewed, replaced, restated or supplemented from time to time, the “Subsidiary Guaranty”).

          6.10 Ship Mortgages. On the Initial Borrowing Date (except to the extent permitted by
Section 13.19 to occur post-Closing), the Collateral Agent shall have received duly authorized,
fully executed, acknowledged, and delivered first preferred ship mortgages substantially in the
form of Exhibit M (as amended, modified, extended, renewed, replaced, restated or supplemented from
time to time, each a “Ship Mortgage” and collectively, the “Ship Mortgages”), which
Ship Mortgages shall cover such of the Ship Properties owned or leased by the Borrower and/or its
Subsidiaries as shall be designated as such on Schedule 6.10 as a mortgaged ship property
thereunder (each, a “Mortgaged Ship Property” and collectively, the “Mortgaged Ship
Properties”), together with evidence that the Ship Mortgages have been recorded or filed (or
will be filed or recorded within 10 days of the Initial Borrowing Date) in all places to the extent
necessary or, in the reasonable opinion of the Collateral Agent, desirable to effectively create a
valid and enforceable Lien on each Mortgaged Ship Property in favor of the Collateral Agent (or
such other trustee as may be required or desired under local law) for the benefit of the Secured
Creditors.

          6.11 Adverse Change, etc. On the Initial Borrowing Date, after giving effect to the
Transaction, nothing shall have occurred since December 31, 2010 which could reasonably be expected
to have a Material Adverse Effect.

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          6.12 Solvency Certificate; Insurance. On or before the Initial Borrowing Date, the
Borrower shall have delivered or shall cause to be delivered to the Administrative Agent (i) a
solvency certificate in the form of Exhibit L from the chief financial officer or treasurer of the
Borrower, which shall be delivered to each of the Lenders and dated the Initial Borrowing Date,
stating that, after giving effect to the Transaction and the incurrence of all financings
contemplated herein, the Borrower and its Subsidiaries (on a consolidated basis) are not insolvent
and will not be rendered insolvent by the Indebtedness incurred in connection herewith, will not be
left with unreasonably small capital with which to engage in their respective businesses and will
not have incurred debts beyond their ability to pay such debts as they mature and become due and
(ii) evidence of insurance complying with the requirements of Section 9.03 for the business and
properties of the Borrower and its Subsidiaries, in scope, form and substance reasonably
satisfactory to the Administrative Agent and the Required Lenders and naming the Collateral Agent
as an additional insured and/or loss payee, and stating that such insurance shall not be canceled
or revised without 30 days’ prior written notice by the insurer to the Collateral Agent.

          6.13 Litigation. On the Initial Borrowing Date, no litigation by any entity (private
or governmental) shall be pending or, to the knowledge of Borrower, threatened with respect to this
Agreement, any other Document or any documentation executed in connection herewith or with respect
to the Transaction, or which has had, or could reasonably be expected to have, a Material Adverse
Effect.

          6.14 Approvals, etc. (a) On or prior to the Initial Borrowing Date, (i) all necessary
governmental (domestic and foreign) and material third party approvals and consents (including, in
any event, (x) all required Gaming Authority approvals and consents (except for approvals and
consents in respect of the Post-Closing Entities which are permitted to be delivered post-Closing
pursuant to Section 13.19) and (y) all shareholder and board of director approvals and consents)
required in connection with the elements of the Transaction which are to occur by the Initial
Borrowing Date shall have been obtained and remain in full force and effect and all applicable
waiting periods shall have expired without any action being taken by any competent authority which
restrains, prevents or imposes materially adverse conditions upon the consummation of the
Transaction and (ii) the Administrative Agent shall have received copies or other evidence
reasonably satisfactory to it of all such approvals and consents. Additionally, there shall not
exist any judgment, order, injunction or other restraint issued or filed prohibiting or imposing
materially adverse conditions upon the consummation of the Transaction.

          On or prior to the Initial Borrowing Date, except for approvals and consents in respect of the
Post-Closing Entities which are permitted to be delivered after the Initial Borrowing Date pursuant
to Section 13.19, all approvals and licenses required to be obtained by the Borrower and its
Subsidiaries from Gaming Authorities in each state of operation for the Transaction (including
those required in connection with this Agreement and the Senior Notes) shall have been obtained and
remain in effect.

          6.15 Credit Facility Rating. On or prior to the Initial Borrowing Date, each of S&P
and Moody’s shall have provided a public corporate rating or public corporate family rating as
applicable for the Indebtedness to be incurred pursuant to this Agreement, which ratings shall be
in full force and effect on the Effective Date.

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          6.16 Margin Regulations. All Loans and Letters of Credit (and all guaranties thereof
and security therefor) shall be in compliance with Regulations T, U and X.

          6.17 Senior Notes Issuance. On or prior to the Initial Borrowing Date (i) the
Borrower shall have received gross proceeds in an amount equal to $800,000,000 from the issuance of
the Senior Notes (as such amount may be adjusted to take into account initial purchase discounts
and the issuance of the Senior Notes with original issue discount), (ii) the Borrower shall have
used such proceeds to make payments owing in connection with the Transaction and (iii) the Borrower
shall have delivered evidence of the satisfaction of the items set out in clause (i) and (ii) above
to the Administrative Agent, which evidence shall be in form and substance reasonably satisfactory
to the Administrative Agent.

          6.18 Know Your Customer. The Lenders shall have received all documentation and other
information as may be reasonably requested by the Lenders to the extent the Lenders and Borrower in
good faith mutually agree such information is required by regulatory authorities under applicable
“know you customer” and anti-money laundering rules and regulations, including without limitation
the Patriot Act, with respect to the Borrower and its Subsidiaries.

          SECTION 7. Conditions Precedent to All Credit Events. The obligation of each Lender
to make Loans and participate in Letters of Credit (including Loans made and Letters of Credit
issued on the Initial Borrowing Date), and the obligation of any Issuing Lender to issue any Letter
of Credit (including any Letter of Credit issued on the Initial Borrowing Date), is subject, at the
time of each such Credit Event (except as hereinafter indicated), to the satisfaction of the
following conditions:

          7.01 No Default; Representations and Warranties. At the time of each such Credit
Event and also after giving effect thereto (i) there shall exist no Default or Event of Default and
(ii) all representations and warranties contained herein or in any other Credit Document shall be
true and correct in all material respects with the same effect as though such representations and
warranties had been made on the date of such Credit Event (it being understood and agreed that any
representation or warranty which by its terms is made as of a specified date shall be required to
be true and correct in all material respects only as of such specified date).

          7.02 Notice of Borrowing; Letter of Credit Request. (a) Prior to the making of each
Loan (other than a Swingline Loan or a Mandatory Borrowing), the Administrative Agent shall have
received the notice required by Section 2.03(a). Prior to the making of each Swingline Loan, the
Swingline Lender shall have received the notice referred to in Section 2.03(b).

          (b) Prior to the issuance of each Letter of Credit, the Administrative Agent and the
respective Issuing Lender shall have received a Letter of Credit Request meeting the requirements
of Section 3.03.

          The acceptance of the benefit of each Credit Event shall constitute a representation and
warranty by the Borrower to the Administrative Agent and each of the Lenders (i) as of the Initial
Borrowing Date that all the conditions specified in Section 6 are

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satisfied as of such date (except to the extent that any of the conditions specified in
Section 6 are required to be satisfactory to or determined by the Administrative Agent) and (ii)
as of the date of such Credit Event that all the conditions specified in this Section 7 and
applicable to such Credit Event are satisfied as of that time. All of the Notes, certificates,
legal opinions and other documents and papers referred to in Section 6 and in this Section 7,
unless otherwise specified, shall be delivered to the Administrative Agent at the Notice Office or
to counsel for the Administrative Agent.

          SECTION 8. Representations and Warranties. In order to induce the Lenders to enter
into this Agreement and to make the Loans, and issue (or participate in) the Letters of Credit as
provided herein, the Borrower makes the following representations and warranties, in each case
after giving effect to the Transaction consummated on the Initial Borrowing Date, all of which
shall survive the execution and delivery of this Agreement and the Notes and the making of the
Loans and the issuance of the Letters of Credit, with the occurrence of each Credit Event on the
Initial Borrowing Date being deemed to constitute a representation and warranty that the matters
specified in this Section 8 are true and correct on and as of the Initial Borrowing Date in all
material respects and the occurrence of each Credit Event after the Initial Borrowing Date being
deemed to constitute a representation and warranty that the matters specified in this Section 8 are
true and correct in all material respects on the date of such Credit Event (it being understood and
agreed that any representation or warranty which by its terms is made as of a specified date shall
be required to be true and correct in all material respects only as of such specified date).

          8.01 Corporate Status. The Borrower and each of its Material Subsidiaries (i) is a
duly organized and validly existing corporation or limited liability company in good standing under
the laws of the jurisdiction of its organization, (ii) has the corporate or limited liability
company power and authority to own its property and assets and to transact the business in which it
is engaged and presently proposes to engage and (iii) is duly qualified to do business and is in
good standing in each jurisdiction where the conduct of its business requires such qualifications
except for failures to be so qualified which, individually or in the aggregate, could not
reasonably be expected to have a Material Adverse Effect.

          8.02 Corporate Power and Authority. Each Credit Party has the corporate or limited
liability company power and authority to execute, deliver and perform the terms and provisions of
each of the Credit Documents to which it is party and has taken all necessary corporate or limited
liability company action, as the case may be, to authorize the execution, delivery and performance
by it of each of such Credit Documents. Each Credit Party has duly executed and delivered each of
the Credit Documents to which it is party, and each of such Credit Documents constitutes such
Credit Party’s legal, valid and binding obligation enforceable in accordance with its terms, except
to the extent that the enforceability thereof may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws generally affecting creditors’ rights and by
equitable principles (regardless of whether enforcement is sought in equity or at law).

          8.03 No Violation. Neither the execution, delivery or performance by any Credit Party
of the Credit Documents to which it is a party, nor compliance by it with the terms and provisions
thereof, (i) will contravene any material provision of any applicable law, statute,

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rule or regulation or any applicable order, writ, injunction or decree of any court or
governmental instrumentality subject to obtaining approvals and consents in respect of the
Post-Closing Entities which are permitted to be delivered after the Initial Borrowing Date pursuant
to Section 13.19, (ii) will conflict with or result in any breach of any of the material terms,
covenants, conditions or provisions of, or constitute a default under, or result in the creation or
imposition of (or the obligation to create or impose) any Lien (except pursuant to the Security
Documents) upon any of the material properties or assets of the Borrower or any of its Subsidiaries
pursuant to the terms of any material indenture, mortgage, deed of trust, credit agreement or loan
agreement, or any other material agreement, contract or instrument, to which the Borrower or any of
its Subsidiaries is a party or by which it or any of its property or assets is bound or to which it
may be subject or (iii) will violate any provision of the Certificate of Incorporation or By-Laws
(or corresponding governing documents) of the Borrower or any of its Subsidiaries.

          8.04 Governmental Approvals. No order, consent, approval, license, authorization or
validation of, or filing, recording or registration with (except as have been obtained or made
prior to the Initial Borrowing Date or, if later, the date as of which this representation is being
made), or exemption by, any governmental or public body or authority, or any subdivision thereof,
is required to authorize, or is required in connection with, (i) the execution, delivery and
performance of any Credit Document or (ii) the legality, validity, binding effect or enforceability
of any such Credit Document, except (x) the approval of one or more Gaming Authorities may be
required in connection with foreclosure and the exercise of rights and remedies under the Security
Documents and (y) approvals and consents in respect of the Post-Closing Entities which are
permitted to be delivered after the Initial Borrowing Date pursuant to Section 13.19.

          8.05 Financial Statements; Financial Condition; Undisclosed Liabilities; Projections;
etc. (a) The consolidated balance sheets of the Borrower as at December 31, 2008, December 31,
2009 and December 31, 2010, and the related consolidated statements of operation, cash flows and
(with respect to December 31, 2010), stockholders’ equity of the Borrower for each fiscal year
ended on such dates, copies of which have been furnished to the Lenders prior to the Effective
Date, present fairly in all material respects the consolidated financial position of the Borrower
at the dates of such balance sheets and the consolidated results of the operations of the Borrower
for the periods covered thereby. All of the foregoing financial statements have been prepared in
accordance with generally accepted accounting principles consistently applied by the Borrower.
Since December 31, 2010, there has been no material adverse change in the business, operations,
property, assets, liabilities, or financial condition (after giving effect to the Transaction) of
the Borrower and its Subsidiaries taken as a whole.

          (b) (i) On and as of the Initial Borrowing Date, after giving effect to the Transaction (and
assuming that the Stock Repurchase and all of the Existing Senior Notes Repurchase was made on the
Initial Borrowing Date) and to all Indebtedness incurred, and to be incurred, and Liens created,
and to be created, by the Borrower and its Subsidiaries in connection therewith, (a) the sum of the
assets, at a fair valuation, of the Borrower and its Subsidiaries will exceed their debts; (b) the
Borrower and its Subsidiaries taken as a whole have not incurred and do not intend to incur, and do
not believe that they will incur, debts beyond their ability to pay such debts as such debts
mature; and (c) the Borrower and its Subsidiaries taken as a whole will have sufficient capital
with which to conduct their businesses. For purposes of this Section

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8.05(b), “debt” means any liability on a claim, and “claim” means (i) right to payment,
whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent,
matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured or (ii) right to
an equitable remedy for breach of performance if such breach gives rise to a payment, whether or
not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured,
unmatured, disputed, undisputed, secured or unsecured.

          (c) Except as disclosed in the financial statements delivered pursuant to Section 8.05(a) or
as disclosed in writing to the Lenders prior to the Effective Date, there were as of the Initial
Borrowing Date no liabilities or obligations with respect to the Borrower or any of its
Subsidiaries of any nature whatsoever (whether absolute, accrued, contingent or otherwise and
whether or not due) which, either individually or in aggregate, would be material to the Borrower
or to the Borrower and its Subsidiaries taken as a whole.

          (d) On and as of the Initial Borrowing Date, the financial projections dated as of March 14,
2011 (the “Projections”) previously delivered to the Administrative Agent and the Lenders
have been prepared on a basis consistent with the financial statements referred to in Section
8.05(a) (other than as set forth or presented in such Projections). The Projections were prepared
in good faith based upon assumptions believed by the Company to be reasonable at the time made and
at the time delivered to the Administrative Agent (it being understood that such Projections are
not to be viewed as facts and that actual results during the period or periods covered by the
Projections may differ significantly from the projected results (and such differences may be
material) and that no assurance can be given that the projected results will be realized).

          8.06 Litigation. There are no actions, suits or proceedings pending or, to the
knowledge of the Borrower, threatened (i) on the Initial Borrowing Date, with respect to any
Document or the Transaction or (ii) that could reasonably be expected to have a Material Adverse
Effect.

          8.07 True and Complete Disclosure. None of the factual information furnished by or on
behalf of the Borrower in writing to the Administrative Agent or any Lender for purposes of or in
connection with this Agreement, the other Credit Documents or any transaction contemplated herein
or therein, taken as a whole, contained and all other such factual information hereafter furnished
by or on behalf of the Borrower in writing to the Administrative Agent or any Lender taken as a
whole will contain, as of the time it was (or hereafter is) furnished, any material misstatement of
fact or omitted (or will omit) as of such time any statement of material fact necessary to make the
statements therein taken as a whole not materially misleading, in the light of the circumstances
under which they were (or hereafter are) made (after giving effect to all supplements thereto).

          8.08 Use of Proceeds; Margin Regulations. (a) All proceeds of the Term Loans drawn on
the Initial Borrowing Date shall be utilized by the Borrower (i) to effect the Transaction and (ii)
to pay fees and expenses related to the Transaction.

          (b) Proceeds of Revolving Loans and Swingline Loans may be utilized for the Borrower’s and its
Subsidiaries’ general corporate and working capital purposes; provided that

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no more than $380,000,000 of Revolving Loans may be utilized by the Borrower (i) to effect the
Transaction and (ii) to pay fees and expenses related to the Transaction.

          (c) No part of the proceeds of any Loan will be used to purchase or carry any Margin Stock or
to extend credit for the purpose of purchasing or carrying any Margin Stock in violation of
Regulation T, U or X. Neither the making of any Loan nor the use of the proceeds thereof will
violate the provisions of Regulation T, U or X.

          8.09 Tax Returns and Payments. Each of the Borrower and its Subsidiaries has timely
filed or caused to be timely filed, on the due dates thereof or within applicable grace periods,
with the appropriate taxing authority, all Federal and all material state and foreign returns,
statements, forms and reports for taxes (the “Returns”) required to be filed by or with
respect to the income, properties or operations of the Borrower and/or any of its Subsidiaries.
The Returns accurately reflect in all material respects all liability for taxes of the Borrower and
its Subsidiaries, as the case may be, for the periods covered thereby. Each of the Borrower and
its Subsidiaries has paid all material taxes payable by them other than taxes which are not
delinquent or are being contested in good faith and for which adequate reserves have been
established in accordance with GAAP. Except as disclosed in the financial statements referred to
in Section 8.05(a), as of the Initial Borrowing Date there is no material action, suit, proceeding,
investigation, audit, or claim now pending or, to the best knowledge of the Borrower or any of its
Subsidiaries, threatened by any authority regarding any taxes relating to the Borrower or any of
its Subsidiaries. As of the Initial Borrowing Date, except as set forth in Schedule 8.09, neither
the Borrower nor any of its Subsidiaries has entered into an agreement or waiver or been requested
to enter into an agreement or waiver extending any statute of limitations relating to the payment
or collection of taxes of the Borrower or any of its Subsidiaries, or is aware of any circumstances
that would cause the taxable years or other taxable periods of the Borrower or any of its
Subsidiaries not to be subject to the normally applicable statute of limitations.

          8.10 Compliance with ERISA. As of the Initial Borrowing Date, except as set forth on
Schedule 8.10, neither Borrower, any Subsidiary nor any ERISA Affiliate sponsors, contributes to or
maintains a Plan or has any actual or contingent liability under any Plan. Except as, individually
or in the aggregate, would not reasonably be expected to have a Material Adverse Effect, (i) to the
extent applicable, each Plan (and each related trust, insurance contract or fund) is in compliance
with its terms and with all applicable laws including, without limitation, ERISA and the Code; (ii)
each Plan (and each related trust, if any) which is intended to be qualified under Section 401(a)
of the Code has received or has applied for a determination letter from the Internal Revenue
Service to the effect that it meets the requirements of Sections 401(a) and 501(a) of the Code
covering all tax law changes including the Economic Growth and Tax Relief Reconciliation Act of
2001 or is comprised of a master or prototype plan that has received a favorable opinion letter
from the IRS; (iii) no Reportable Event has occurred with respect to a Plan; (iv) to the knowledge
of the Borrower, each of its Subsidiaries and each ERISA Affiliate, no Plan which is a
multiemployer plan (as defined in Section 4001(a)(3) of ERISA) is insolvent or in reorganization;
(v) no Plan other than a multiemployer plan (as defined in Section 4001(a)(3) of ERISA), has an
Unfunded Current Liability; (vi) no Plan, other than a multiemployer plan (as defined in Section
4001(a)(3) of ERISA), which is subject to Section 412 of the Code or Section 302 of ERISA has
failed to satisfy the minimum funding standard within the meaning of such sections of the Code or
ERISA, and no Plan, other than a multiemployer

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plan (as defined in Section 4001(a)(3) of ERISA), has applied for or received a waiver of the
minimum funding standard or an extension of any amortization period within the meaning of Section
412 of the Code or Section 303 or 304 of ERISA; (vii) no determination has been made that any Plan
is, or is reasonably expected to be, considered an at-risk plan within the meaning of Section 430
of the Code or Section 303 of ERISA; (viii) all contributions required to be made with respect to a
Plan have been timely made; (ix) neither the Borrower nor any of its Subsidiaries nor any ERISA
Affiliate has incurred any liability (including any indirect, contingent or secondary liability) to
or on account of a Plan pursuant to Section 409, 502(i), 502(1), 515, 4062, 4063, 4064, 4069, 4201,
4204 or 4212 of ERISA or Section 436(f), 4971 or 4975 of the Code or reasonably expects to incur
any such liability under any of the foregoing Sections with respect to any Plan; (x) to the
knowledge of Borrower, each Subsidiary and each ERISA Affiliate, no proceedings have been
instituted to terminate or appoint a trustee to administer any Plan which is subject to Title IV of
ERISA; (xi) no action, suit, proceeding, hearing, audit or investigation with respect to the
administration, operation or the investment of assets of any Plan (other than routine claims for
benefits) is pending or, to the knowledge of Borrower, Subsidiary and each ERISA Affiliate,
expected or threatened; (xii) using actuarial assumptions and computation methods consistent with
Part 1 of subtitle E of Title IV of ERISA, the aggregate liabilities of the Borrower, its
Subsidiaries and their ERISA Affiliates to all Plans which are multiemployer plans (as defined in
Section 4001(a)(3) of ERISA) in the event of a complete withdrawal therefrom, as of the close of
the most recent fiscal year of each such Plan ended prior to the date of the most recent Credit
Event, would not exceed $10,000,000; (xiii) neither the Borrower nor any of its Subsidiaries nor
any ERISA Affiliate has received any notice, and no Plan which is a multiemployer plan (as defined
in Section 4001(a)(3) of ERISA) has received from the Borrower, any of its Subsidiaries or any
ERISA Affiliate any notice, that a Plan which is a multiemployer plan (as defined in Section
4001(a)(3) of ERISA) is in endangered or critical status under Section 305 of ERISA; (xiv) each
group health plan (as defined in Section 607(1) of ERISA or Section 4980B(g)(2) of the Code) which
covers or has covered employees or former employees of the Borrower, any Subsidiary of the
Borrower, or any ERISA Affiliate has at all times been operated in compliance in all material
respects with the provisions of Part 6 of subtitle B of Title I of ERISA and Section 4980B of the
Code and each group health plan (as defined in 45 Code of Federal Regulations Section 160.103)
which covers or has covered employees or former employees of the Borrower, any Subsidiary of the
Borrower, or any ERISA Affiliate has at all times been operated in compliance in all material
respects with the provisions of the Health Insurance Portability and Accountability Act of 1996 and
the regulations promulgated thereunder; and (xv) no lien imposed under the Code or ERISA on the
assets of the Borrower or any Subsidiary of the Borrower or any ERISA Affiliate exists or is likely
to arise on account of any Plan. The Borrower and its Subsidiaries do not maintain or contribute
to any employee welfare benefit plan (as defined in Section 3(1) of ERISA) which provides benefits
to retired employees or other former employees (other than as required by Section 601 of ERISA) or
any Plan the obligations with respect to which could reasonably be expected to have a Material
Adverse Effect on the ability o
f the Borrower to perform its obligations under this Agreement.

          8.11 The Security Documents(a) Subject to applicable Gaming Regulations, the
provisions of the Security Agreement are effective to create in favor of the Collateral Agent for
the benefit of the Secured Creditors a legal, valid and enforceable security interest in all right,
title and interest of the Credit Parties in the Security Agreement Collateral described therein,
and

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the Security Agreement, upon the filing of Form UCC-1 financing statements or the appropriate
equivalent (which filing, if this representation is being made more than 10 days after the Initial
Borrowing Date, has been made), creates a fully perfected Lien on, and security interest in, all
right, title and interest in all of the Security Agreement Collateral described therein which is
capable of being perfected with such filings, subject to no other Liens other than Permitted Liens
and Liens to be released in connection with the Transaction.

          (b) Subject to applicable Gaming Regulations, the security interests created in favor of the
Collateral Agent, as Pledgee, for the benefit of the Secured Creditors under the Pledge Agreement
constitute first priority perfected security interests in the Pledged Securities described in the
Pledge Agreement, subject to no security interests of any other Person. No filings or recordings
are required in order to perfect (or maintain the perfection or priority of) the security interests
created in the Pledged Securities and the proceeds thereof under the Pledge Agreement, so long as
the Collateral Agent maintains possession of such Pledged Securities consisting of certificated
securities.

          (c) Upon execution, delivery and recording thereof in the appropriate recording office, the
Mortgages shall create, as security for the obligations purported to be secured thereby, a valid
and enforceable perfected security interest in and mortgage lien on all of the Mortgaged Properties
in favor of the Collateral Agent (or such other trustee as may be required or desired under local
law) for the benefit of the Secured Creditors, superior to and prior to the rights of all third
persons (except that the security interest and mortgage lien created in the Mortgaged Properties
may be subject to the Permitted Encumbrances, Permitted Liens and Liens to be released in
connection with the Transaction related thereto) and subject to no other Liens (other than Liens
permitted under Section 10.01). Schedule 8.11(c) contains a true and complete list of each parcel
of Real Property having a value in excess of $10,000,000 owned or leased by the Borrower and its
Subsidiaries on the Initial Borrowing Date (after giving effect to the Transaction) and the type of
interest therein held by the Borrower or such Subsidiary.

          (d) Upon execution, delivery and recording thereof in the appropriate recording office, the
Ship Mortgages shall create, as security for the obligations purported to be secured thereby, a
valid and enforceable perfected security interest in and mortgage lien on all of the Ship
Properties in favor of the Collateral Agent (or such other trustee as may be required or desired
under local law) for the benefit of the Secured Creditors, superior to and prior to the rights of
all third persons (except that the security interest and mortgage lien created in the Ship
Properties may be subject to the Permitted Encumbrances, Permitted Liens and Liens to be released
in connection with the Transaction related thereto) and subject to no other Liens (other than Liens
permitted under Section 10.01). Schedule 6.11 contains a true and complete list of each Ship
Property owned or leased by the Borrower and its Subsidiaries on the Initial Borrowing Date and the
type of interest therein held by the Borrower or such Subsidiary.

          8.12 Properties. The Borrower and each of its Subsidiaries have good and valid title
to all material properties owned by them (or a valid leasehold estate with respect to all material
properties leased by them), including all property reflected in the most recent balance sheet of
the Borrower referred to in Section 8.05(a) (except for property sold or otherwise disposed of
since the date of such balance sheet in the ordinary course of business or as otherwise permitted
by this Agreement or if prior to the Initial Borrowing Date, the Existing

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Credit Agreement), free and clear of all Liens, other than (i) as referred to in the balance
sheet or in the notes thereto or in such pro forma balance sheet or (ii) Permitted Liens.

          8.13 Subsidiaries. As of the Initial Borrowing Date, the Borrower will have no direct
or indirect Subsidiaries other than those listed on Schedule 8.13.

          8.14 Compliance with Statutes, etc. Each of the Borrower and its Subsidiaries is in
compliance with all applicable statutes, regulations and orders of, and all applicable restrictions
imposed by, all governmental bodies, domestic or foreign, in respect of the conduct of its business
and the ownership of its property, except such noncompliance as could not individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect.

          8.15 Investment Company Act. Neither the Borrower nor any of its Subsidiaries is an
“investment company”, within the meaning of the Investment Company Act of 1940, as amended.

          8.16 Labor Relations. Neither the Borrower nor any of its Subsidiaries is engaged in
any unfair labor practice that could reasonably be expected to have a Material Adverse Effect.
There is (i) no unfair labor practice complaint pending against the Borrower or any of its
Subsidiaries or, to the knowledge of the Borrower, threatened against any of them, before the
National Labor Relations Board, and no significant grievance or significant arbitration proceeding
arising out of or under any Collective Bargaining Agreement is so pending against the Borrower or
any of its Subsidiaries or, to the best knowledge of the Borrower, threatened against any of them,
(ii) no strike, labor dispute, slowdown or stoppage pending against the Borrower or any of its
Subsidiaries or, to the best knowledge of the Borrower, threatened against the Borrower or any of
its Subsidiaries and (iii) to the best knowledge of the Borrower, no concerted and continuous
effort to organize a union with respect to the employees of the Borrower or any of its
Subsidiaries, except (with respect to any matter specified in clause (i), (ii) or (iii) above,
either individually or in the aggregate) such as could not reasonably be expected to have a
Material Adverse Effect.

          8.17 Patents, Licenses, Franchises and Formulas. Each of the Borrower and its
Subsidiaries owns all material patents, trademarks, permits, service marks, trade names,
copyrights, licenses, franchises and formulas, or has sufficient rights to use the foregoing, and
has obtained assignments of all leases and other rights of whatever nature, necessary for the
present conduct of its business, without any known conflict with the rights of others which, or the
failure to obtain which, as the case may be, could reasonably be expected to have a Material
Adverse Effect.

          8.18 Indebtedness. Schedule 8.18 sets forth a true and complete list of all
Indebtedness (other than (x) the Loans and Indebtedness incurred under the Senior Notes and the
Existing Senior Notes and (y) Indebtedness having an outstanding principal balance less than
$5,000,000; provided that in no event shall the aggregate principal amount of the
Indebtedness described in this clause (y) exceed $20,000,000) of the Credit Parties as of the
Initial Borrowing Date after giving effect to the Transaction and the other transactions
contemplated hereby, in each case showing the aggregate amount thereof and the name of the
respective obligor and any other entity which directly or indirectly guaranteed such debt (the
“Existing Indebtedness”).

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          8.19 Environmental Matters. Except for matters that either individually or in the
aggregate could not reasonably be expected to have a Material Adverse Effect or as are set forth on
Schedule 8.19:

          (a) Each of the Borrower and its Subsidiaries has complied and is in compliance with all
applicable Environmental Laws and the requirements of any permits issued under such Environmental
Laws. There are no past, pending or, to the knowledge of the Borrower or any of its Subsidiaries,
threatened Environmental Claims against the Borrower or any of its Subsidiaries or any Real
Property currently or, to the best knowledge of the Borrower or any of its Subsidiaries, previously
owned or operated by the Borrower or any of its Subsidiaries. There are no facts, circumstances,
conditions or occurrences on any Real Property currently owned or operated by the Borrower or any
of its Subsidiaries or, to the knowledge of the Borrower or any of its Subsidiaries, on any
formerly owned or operated Real Property or any property adjoining or in the vicinity of any
currently owned or operated Real Property that could reasonably be expected (i) to form the basis
of an Environmental Claim against the Borrower or any of its Subsidiaries or any currently owned or
operated Real Property or (ii) to cause any such Real Property to be subject to any restrictions on
the ownership, occupancy, use or transferability of such Real Property by the Borrower or any of
its Subsidiaries under any applicable Environmental Law.

          (b) Hazardous Materials have not at any time been generated, used, treated or stored on, or
transported to or from, or Released on or from, any Real Property owned or operated by the Borrower
or any of its Subsidiaries except in compliance with all Environmental Laws and reasonably required
in connection with the operation, use and maintenance of any such Real Property by the Borrower’s
or such Subsidiary’s business. There are not now any underground storage tanks owned or operated
by the Borrower or any of its Subsidiaries located on any Real Property owned or operated by the
Borrower or any of its Subsidiaries.

          8.20 Legal Names; Type of Organization (and Whether a Registered Organization);
Jurisdiction of Organization; etc. Schedule 8.20 attached hereto contains, as of the Effective
Date, the exact legal name of the Borrower and each Subsidiary Guarantor, the type of organization
of the Borrower and each Subsidiary Guarantor, whether or not the Borrower and each Subsidiary
Guarantor is a registered organization, the jurisdiction of organization of the Borrower and each
Subsidiary Guarantor, the Borrower and each Subsidiary Guarantor’s location (for purposes of
Section 9-307 of the UCC) and the organizational identification number (if any) of the Borrower and
each Subsidiary Guarantor.

          SECTION 9. Affirmative Covenants. The Borrower hereby covenants and agrees that on
and after the Effective Date and until the Total Commitment and all Letters of Credit have
terminated (or such Letters of Credit have been cash collateralized or backstopped on terms, and
pursuant to documentation, reasonably satisfactory to the applicable Issuing Lender thereof) and
the Loans, Notes and Unpaid Drawings, together with interest, Fees and all other Obligations
incurred hereunder and thereunder, are paid in full:

          9.01 Information Covenants. The Borrower will furnish to the Administrative Agent for
distribution to each Lender:

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          (a) Quarterly Financial Statements. As soon as available and in any event within 45
days after the close of each of the first three quarterly accounting periods in each fiscal year of
the Borrower (subject to extension in the event of an SEC Form 12b-25 filing), (i) the consolidated
balance sheets of the Borrower and its Consolidated Subsidiaries as of the end of such quarter and
the related consolidated statements of operations and statements of cash flows for such quarter and
for the elapsed portion of the fiscal year ended with the last day of such quarter and setting
forth in the statements of operations only, the comparative figures for the corresponding quarter
in the prior fiscal year and the budgeted figures for such quarter as set forth in the respective
budget delivered pursuant to Section 9.01(d), (ii) the consolidating balance sheets of each of the
Borrower’s Subsidiaries as of the end of such quarter and the related consolidating statements of
operations for such quarter and for the elapsed portion of the fiscal year ended with the last day
of such quarter, in each case setting forth in the statements of operations only, the comparative
figures for the corresponding quarter in the prior fiscal year and the budgeted figures for such
quarter as set forth in the respective budget delivered pursuant to Section 9.01(d), and (iii)
management’s discussion and analysis of operational and financial developments during such
quarterly period in respect of the Borrower and its Subsidiaries.

          (b) Annual Financial Statements. Within 90 days after the close of each fiscal year
of the Borrower (subject to extension in the event of an SEC Form 12b-25 filing), (i) the
consolidated balance sheets of the Borrower and its Consolidated Subsidiaries as at the end of such
fiscal year and the related statements of operations and retained earnings and of cash flows for
such fiscal year and, setting forth comparative figures for the preceding fiscal year and
certified, in the case of such consolidated statements, by Ernst & Young LLP or such other
independent registered public accounting firm of recognized national standing reasonably acceptable
to the Administrative Agent, together with a report of such accounting firm (which report shall be
unqualified as to scope) and a statement stating that in the course of its regular audit of the
financial statements of the Borrower and its Subsidiaries, which audit was conducted in accordance
with generally accepted auditing standards, such accounting firm obtained no knowledge of any
Default or Event of Default under Sections 10.03, 10.04, 10.05 and 10.07 through 10.10, inclusive,
which has occurred and is continuing or, if in the opinion of such accounting firm such a Default
or Event of Default has occurred and is continuing, a statement as to the nature thereof, (ii) the
consolidating balance sheets of each of the Borrower’s Subsidiaries at the end of such fiscal year
and the related consolidating statement of operations for such fiscal year, in each case setting
forth comparative figures for the preceding fiscal year, and (iii) management’s discussion and
analysis of operational and financial developments during such fiscal year in respect of the
Borrower and its Subsidiaries.

          (c) Management Letters. Promptly after the receipt thereof by the Borrower or any of
its Subsidiaries, a copy of any final “management letter” received by the Borrower or such
Subsidiary from its independent registered public accounting firm and management’s responses
thereto.

          (d) Budgets. No later than 60 days following the commencement of each fiscal year of
the Borrower, a budget in form reasonably satisfactory to the Administrative Agent prepared by the
Borrower for (x) in the case of budgeted statements of operations, each of the twelve months of
such fiscal year prepared in detail, including break-downs for each fiscal quarter, and (y) in the
case of budgeted statements of cash flows and balance sheets, for such

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fiscal year on an annual basis and prepared in reasonable detail, including break-downs for,
or as of the end of, each fiscal quarter.

          (e) Officer’s Certificates. At the time of the delivery of the financial statements
provided for in Section 9.01(a) and (b), a certificate of the Chief Executive Officer, President,
Vice President or Chief Financial Officer of the Borrower to the effect that, to the best of such
officer’s knowledge, no Default or Event of Default has occurred and is continuing or, if any
Default or Event of Default has occurred and is continuing, specifying the nature and extent
thereof, which certificate shall (x) set forth the calculations required to establish whether the
Borrower was in compliance with the provisions of Sections 10.03, 10.04, 10.05, and 10.07 through
10.10, inclusive, at the end of such fiscal quarter or year, as the case may be, and (y) set forth
the Applicable Margin commencing with the delivery of the respective financial statements in
accordance with the definition thereof; and, at the time of the delivery of the financial
statements provided in Section 9.01(b) such certificate shall also certify that there have been no
changes to Annexes C, E, and Annexes G through J, in each case of the Security Agreement and
Annexes A through F of the Pledge Agreement, in each case since the Initial Borrowing Date or, if
later, since the date of the most recent certificate delivered pursuant to this Section 9.01(e), or
if there have been any such changes, a list in reasonable detail of such changes (but, in each
case, only to the extent that such changes are required to be reported to the Collateral Agent
pursuant to the terms of such Security Documents) and whether the Borrower and the other Credit
Parties have otherwise taken all actions required to be taken by them pursuant to such Security
Documents in connection with any such changes.

          (f) Notice of Default or Litigation. Promptly, and in any event within five Business
Days after an Authorized Officer of the Borrower obtains knowledge thereof, notice of (i) the
occurrence of any event which constitutes a Default or Event of Default or (ii) any litigation or
governmental investigation or proceeding (including, without limitation, any investigation by any
Gaming Authority) pending against the Borrower or any of its Subsidiaries which could reasonably be
expected to result in a Material Adverse Effect.

          (g) Other Reports and Filings. Promptly, copies of all (i) financial information,
proxy materials and other information and reports, if any, which the Borrower or any of its
Subsidiaries shall file with the SEC and (ii) notices of default in the observance or performance
by the Borrower or any of its Subsidiaries of any agreement or provision relating to any
Indebtedness in a principal amount equal to or exceeding $20,000,000 in the aggregate (other than
the Obligations).

          (h) Environmental Matters. Promptly upon, and in any event within 30 days after, an
Authorized Officer of the Borrower obtains knowledge thereof, notice of one or more of the
following environmental matters which occurs after the Initial Borrowing Date unless such
environmental matters could not, individually or when aggregated with all other such environmental
matters, be reasonably expected to have a Material Adverse Effect:

     (i) any material Environmental Claim pending or threatened in writing against the
Borrower or any of its Subsidiaries or any Real Property owned, operated or occupied by the
Borrower or any of its Subsidiaries;

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     (ii) any condition or occurrence on or arising from any Real Property owned, operated
or occupied by the Borrower or any of its Subsidiaries that (a) results in material
noncompliance by the Borrower or any of its Subsidiaries with any applicable Environmental
Law or (b) would reasonably be expected to form the basis of a material Environmental Claim
against the Borrower or any of its Subsidiaries or any such Real Property;

     (iii) any condition or occurrence on any Real Property owned, operated or occupied by
the Borrower or any of its Subsidiaries that would reasonably be expected to cause such Real
Property to be subject to any material restrictions on the ownership, occupancy, use or
transferability by the Borrower or any of its Subsidiaries of such Real Property under any
Environmental Law; and

     (iv) the taking of any material removal or remedial action in response to the actual or
alleged presence of any Hazardous Material on any Real Property owned, operated or occupied
by the Borrower or any of its Subsidiaries as required by any Environmental Law or any
governmental or other administrative agency; provided that in any event the Borrower
shall deliver to the Administrative Agent all material notices received by it or any of its
Subsidiaries from any government or governmental agency under, or pursuant to, CERCLA.

All such notices shall describe in reasonable detail the nature of the claim, investigation,
condition, occurrence or removal or remedial action and the Borrower’s or such Subsidiary’s
response thereto. In addition, the Borrower will provide the Lenders with copies of all material
communications with any government or governmental agency and all material communications with any
Person relating to any Environmental Claim of which notice is required to be given pursuant to this
Section 9.01(h), and such detailed reports of any such Environmental Claim as to which notice is
required, as may reasonably be requested by the Administrative Agent or the Lenders.

          (i) Notice of Mandatory Repayments. On or prior to the date of any mandatory
repayment of outstanding Term Loans pursuant to any of Sections 5.02(d) through (g), inclusive, the
Borrower shall provide written notice of the amount of the respective reduction or repayment, as
the case may be, the calculation thereof (in reasonable detail) and the event to which the
respective reduction or repayment relates.

          (j) Other Information. From time to time, such other information or documents
(financial or otherwise) with respect to the Borrower or its Subsidiaries as any Lender may
reasonably request in writing; provided that such written request shall be delivered by any
such Lender to the Administrative Agent and such other information or documents shall be delivered
by the Borrower to the Administrative Agent, who shall promptly deliver same to the Lender making
such written request.

          Documents required to be delivered pursuant to Section 9.01(a), (b) or (g)(i) may be delivered
electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which
the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the
Internet at the website address listed on Schedule 9.01(g); or (ii) on

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which such documents are posted on the Borrower’s behalf on IntraLinks/IntraAgency or another
relevant website, if any, to which each Lender and the Administrative Agent have access (whether a
commercial, third-party website or whether sponsored by the Administrative Agent); provided
that: (i) upon written request by the Administrative Agent, the Borrower shall deliver paper copies
of such documents to the Administrative Agent for further distribution to each Lender until a
written request to cease delivering paper copies is given by the Administrative Agent and (ii) the
Borrower shall notify (which may be by facsimile or electronic mail) the Administrative Agent of
the posting of any such documents and provide to the Administrative Agent by electronic mail
electronic versions (i.e., soft copies) of such documents. Each Lender shall be solely responsible
for timely accessing posted documents or requesting delivery of paper copies of such documents from
the Administrative Agent and maintaining its copies of such documents.

          9.02 Books, Records and Inspections. The Borrower will, and will cause each of its
Material Subsidiaries to, keep proper books of record and account in which full, true and correct
entries in material conformity with generally accepted accounting principles in the United States
and all requirements of law shall be made of all dealings and transactions in relation to its
business and activities. The Borrower will, and will cause each of its Material Subsidiaries to,
permit officers and designated representatives of the Administrative Agent or any Lender to visit
and inspect, during regular business hours, upon reasonable advance notice and under guidance of
officers of the Borrower or such Subsidiary, any of the properties of the Borrower or such
Subsidiary, and to discuss the affairs, finances and accounts of the Borrower or such Subsidiary
with, and be advised as to the same by, its and their officers (and in connection therewith
representatives of the Administrative Agent may examine, and may coordinate the examination by the
Lenders of, the books of account of the Borrower or such Subsidiary), all at such reasonable times
and intervals and to such reasonable extent as the Administrative Agent or such Lender may request
and subject to compliance with applicable Gaming Regulations.

          9.03
Maintenance of Property; Insurance (a) The Borrower will, and will cause each of
its Subsidiaries to, (i) keep all property necessary in its business in good working order and
condition (ordinary wear and tear excepted), (ii) maintain insurance on all its property in at
least such amounts and against at least such risks as is consistent and in accordance with industry
practice and (iii) furnish to each Lender, upon written request, full information as to the
insurance carried.

          (b) All policies (including Mortgage Policies) or certificates (or certified copies thereof)
with respect to such insurance (i) shall be endorsed to the Collateral Agent’s satisfaction for the
benefit of the Collateral Agent (including, without limitation, by naming the Collateral Agent as
loss payee or as an additional insured), (ii) shall state that such insurance policies shall not be
canceled without 30 days’ prior written notice thereof (or 10 days’ notice for nonrenewal or any
termination due to nonpayment of premium) by the respective insurer to the Collateral Agent, (iii)
shall provide that the respective insurers irrevocably waive (upon Borrower’s waiver, which it
hereby irrevocably grants) any and all rights of subrogation with respect to the Collateral Agent
and the Secured Creditors and (iv) shall, except in the case of public liability insurance,
business interruption insurance and workers’ compensation insurance, in substance be in all
material respects at least as favorable to the Collateral Agent and the

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Secured Creditors as the endorsement attached as Schedule 9.03, provided that such coverage is
available at commercially reasonable rates.

          (c) If the Borrower or any of its Subsidiaries shall fail to maintain all insurance in
accordance with this Section 9.03, or if the Borrower or any of its Subsidiaries shall fail to so
endorse and deposit all policies or certificates with respect thereto, the Administrative Agent
and/or the Collateral Agent shall have the right (but shall be under no obligation) to procure such
insurance and the Borrower agrees to reimburse the Administrative Agent or the Collateral Agent as
the case may be, for all reasonable costs and expenses of procuring such insurance.

          9.04 Corporate Franchises. The Borrower will, and will cause each of its Material
Subsidiaries to, do or cause to be done, all things necessary to preserve and keep in full force
and effect its existence and its material rights, franchises, licenses and patents;
provided, however, that nothing in this Section 9.04 shall prevent (i) sales of
assets (including, without limitation, Equity Interests in Subsidiaries of the Borrower) by the
Borrower or any of its Material Subsidiaries in accordance with Section 10.02, (ii) the withdrawal
by the Borrower or any of its Material Subsidiaries of their qualification as a foreign corporation
or of their license under any Gaming Regulations in any jurisdiction where such withdrawal could
not reasonably be expected to have a Material Adverse Effect or (iii) mergers or consolidations or
liquidations permitted under Section 10.02.

          9.05 Compliance with Statutes, etc. The Borrower will, and will cause each of its
Subsidiaries to, comply with all applicable laws, statutes, regulations and orders of, and all
applicable restrictions imposed by, all governmental bodies, domestic or foreign, in respect of the
conduct of its business and the ownership of its property, except for instances of noncompliance as
could not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect.

          9.06 ERISA. To the extent that Borrower, any Subsidiary or any ERISA Affiliate
sponsors, contributes to or maintains a Plan or has any actual or contingent liability under a
Plan, as soon as possible and, in any event, within 10 days after the Borrower or any of its
Subsidiaries or any ERISA Affiliate knows of the occurrence of any of the following (provided that
any such occurrence is material), the Borrower will deliver to the Administrative Agent a
certificate of an Authorized Officer of the Borrower setting forth the full details as to such
occurrence and the action, if any, that the Borrower, such Subsidiary or such ERISA Affiliate is
required or proposes to take, together with any notices then required or proposed to be given to or
filed with or by the Borrower, such Subsidiary, the Plan administrator or such ERISA Affiliate to
or with the PBGC or any other government agency, or a Plan participant and any material notices
received by such Borrower, such Subsidiary or ERISA Affiliate from the PBGC or any other government
agency, or a Plan participant with respect thereto: that a Reportable Event has occurred (except
to the extent that the Borrower has previously delivered to the Administrative Agent a certificate
and notices (if any) concerning such event pursuant to the next clause hereof); that a contributing
sponsor (as defined in Section 4001(a)(13) of ERISA) of a Plan subject to Title IV of ERISA is
subject to the advance reporting requirement of PBGC Regulation Section 4043.61 (without regard to
subparagraph (b)(1) thereof), and an event described in subsection .62, .63, .64, .65, .66, .67 or .68 of PBGC Regulation Section 4043 is

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reasonably expected to occur with respect to such Plan within the following 30 days; that a
Plan, other than a multiemployer plan (as defined in Section 4001(a)(3) of ERISA), has failed to
satisfy the minimum funding standard within the meaning of Section 412 of the Code or Section 302
of ERISA, or an application may be or has been made for a waiver or modification of the minimum
funding standard (including any required installment payments) or an extension of any amortization
period under Section 412 of the Code or Section 303 or 304 of ERISA with respect to a Plan, other
than a multiemployer plan (as defined in Section 4001(a)(3) of ERISA); that a determination has
been made that any Plan is, or is reasonably expected to be, considered an at-risk plan within the
meaning of Section 430 of the Code or Section 303 of ERISA; that a Plan which is a multiemployer
plan (as defined in Section 4001(a)(3) of ERISA) is in endangered or critical status under Section
305 of ERISA; that any contribution required to be made with respect to a Plan has not been timely
made; that a Plan has been or is reasonably expected to be terminated, reorganized, partitioned or
declared insolvent under Title IV of ERISA; that a Plan, other than a multiemployer plan (as
defined in Section 4001(a)(3) of ERISA) has an Unfunded Current Liability; that proceedings are in
the reasonable opinion of the Borrower likely to be or have been instituted or notice has been
given to terminate or appoint a trustee to administer a Plan which is subject to Title IV of ERISA;
that a proceeding has been instituted pursuant to Section 515 of ERISA to collect a delinquent
contribution to a Plan; that the Borrower, any of its Subsidiaries or any ERISA Affiliate will or
is reasonably expected to incur any liability (including any indirect, contingent or secondary
liability) to or on account of the termination of or withdrawal from a Plan under Section 4062,
4063, 4064, 4069, 4201, 4204 or 4212 of ERISA under Section 436(f), 4971, 4975 or 4980 of the Code
or Section 409 or 502(i) or 502(l) of ERISA or with respect to a group health plan (as defined in
Section 607(1) of ERISA or Section 4980B(g)(2) of the Code) under section 4980B of the Code; or
that the Borrower or any of its Subsidiaries may reasonably be expected to incur any liability
pursuant to any employee welfare benefit plan (as defined in Section 3(1) of ERISA) that provides
benefits to retired employees or other former employees (other than as required by Section 601 of
ERISA or benefits the full cost of which is borne by the employee or former employee) or any Plan.
The Borrower will deliver to the Administrative Agent copies of any records, documents or other
information that must be furnished to the PBGC with respect to any Plan pursuant to Section 4010 of
ERISA. The Borrower will also deliver to the Administrative Agent a complete copy of the annual
report (Form 5500 series) of each Plan (including, to the extent required, the related financial
and actuarial statements and opinions and other supporting statements, certifications, schedules
and information) required to be filed with the annual report. In addition to any certificates or
notices delivered to the Administrative Agent pursuant to the first sentence hereof, copies of
annual reports and any records, documents or other information required to be furnished to the PBGC
or any other government agency, and any material notices received by the Borrower or any of its
Subsidiaries or any ERISA Affiliate with respect to any Plan shall be delivered to the
Administrative Agent reasonably promptly after the date such annual report has been filed or such
records, documents or other information required to be furnished to the PBGC or any other
government agency or such mate
rial notice has been received by the Borrower, the respective
Subsidiary or the ERISA Affiliate, as applicable.

          9.07 End of Fiscal Years; Fiscal Quarters. The Borrower shall cause (i) each of its
fiscal years to end on December 31, and (ii) each of its fiscal quarters to end on March 31, June
30 and September 30.

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          9.08 Performance of Obligations. The Borrower will, and will cause each of its
Subsidiaries to, perform all of their obligations under the terms of each mortgage, indenture,
security agreement and other debt instrument by which it is bound, except for instances of such
non-performance as could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect.

          9.09 Payment of Taxes. The Borrower will pay and discharge or cause to be paid and
discharged, and will cause each of its Subsidiaries to pay and discharge, all taxes, assessments
and governmental charges or levies imposed upon it or upon its income or profits, or upon any
properties belonging to it, in each case on a timely basis, except in each case to the extent (i)
any such tax, assessment, charge, levy or claim is being contested in good faith and by proper
proceedings if the Borrower or the applicable Subsidiary has maintained adequate reserves with
respect thereto in accordance with GAAP or (ii) the failure of which to pay or discharge the same
could not, individually or in the aggregate, be reasonably expected to have a Material Adverse
Effect.

          9.10 Intellectual Property Rights. The Borrower shall, and shall cause each of its
Subsidiaries to, maintain in full force and effect all material Intellectual Property rights
necessary or appropriate to the business of the Credit Parties and take no action (including,
without limitation, the licensing of Intellectual Property), or fail to take an action, as the case
may be, in connection with such Intellectual Property rights which could reasonably be expected to
result in a Material Adverse Effect.

          9.11 Additional Security; Further Assurances. (a) The Borrower will, and will cause
each of the other Credit Parties that are Subsidiaries to, grant to the Collateral Agent security
interests and mortgages (an “Additional Mortgage”) in such Real Property of the Borrower or
such other Credit Parties that are Subsidiaries as are not covered by the original Mortgages to the
extent acquired after the Initial Borrowing Date (including to the extent acquired through a
Permitted Acquisition) and having a fair market value in excess of $20,000,000 (as determined in
good faith by the Borrower), or, if an Event of Default has occurred and is continuing, as may
reasonably be requested from time to time by the Administrative Agent or the Required Lenders.

          (b) The Borrower will, and will cause each of the other Credit Parties that are Subsidiaries
to, grant to the Collateral Agent security interests and mortgages (an “Additional Ship
Mortgage”) in such ship, barge or other vessel of the Borrower or such other Credit Parties
that are Subsidiaries as are not covered by the original Ship Mortgages to the extent acquired
after the Initial Borrowing Date (including to the extent acquired through a Permitted Acquisition)
and having a fair market value in excess of $20,000,000 (as determined in good faith by the
Borrower), or, if an Event of Default has occurred and is continuing, as may reasonably be
requested from time to time by the Administrative Agent or the Required Lenders (each such Ship
Property, an “Additional Ship Mortgaged Property”).

          (c) In connection with the acquisition of the capital stock of a Person that becomes a
Subsidiary of the Borrower or the formation of a new Subsidiary of the Borrower, the Borrower shall
pledge or cause to be pledged all capital stock of any such Person so acquired which is owned by
the Borrower or any Subsidiary Guarantor pursuant to the Pledge Agreement

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(excluding (i) any Subsidiary that does not constitute a Material Subsidiary, (ii) any Native
American Subsidiary, (iii) that portion of the Voting Stock of any Foreign Subsidiary which would
be in excess of 65% of the total outstanding Voting Stock of such Foreign Subsidiary and (iv) any
Subsidiary of a Foreign Subsidiary) and cause such Person (excluding any Subsidiary that does not
constitute a Material Subsidiary, any Native American Subsidiary, any Foreign Subsidiary and any
Subsidiary of a Foreign Subsidiary) to enter into a guaranty substantially similar to the
Subsidiary Guaranty and additional security documents substantially similar to the Security
Documents (to the extent applicable), all as otherwise set forth in this Section 9.11;
provided that if the pledge of the capital stock of any Subsidiary acquired or created
after the Initial Borrowing Date requires approval under applicable Gaming Regulations, the
Borrower shall be required to pledge such stock only if the requisite approvals from the applicable
Gaming Authorities are obtained after the exercise of its commercially reasonable efforts to obtain
such approvals (and the Borrower agrees to use its commercially reasonable efforts to obtain such
approvals).

          (d) The Borrower will cause each Domestic Subsidiary acquired, established or created after
the Initial Borrowing Date (except for any Subsidiary that does not constitute a Material
Subsidiary, any Native American Subsidiary and any Domestic Subsidiary of a Foreign Subsidiary) to
grant to the Collateral Agent a first priority Lien, subject to Permitted Liens, on all personal
property (tangible and intangible) of such Domestic Subsidiary upon terms substantially similar to
those set forth in the Security Documents (including, without limitation, the Pledge Agreement and
the Security Agreement) as appropriate; provided that such Subsidiary shall not be required
to be a Subsidiary Guarantor or grant Liens pursuant to the Security Documents to the extent any
such action is prohibited by applicable Gaming Regulations.

          (e) The Borrower will, and will cause each of its Subsidiaries required to take action under
Section 9.11 (a), (b), (c) and (d) to, at the expense of the Borrower, make, execute, endorse,
acknowledge, file and/or deliver to the Collateral Agent from time to time such vouchers, invoices,
schedules, confirmatory assignments, conveyances, financing statements, transfer endorsements,
powers of attorney, certificates, real property surveys, reports and other assurances or
instruments and take such further steps relating to the Collateral covered by any of the Security
Documents as the Collateral Agent may reasonably require pursuant to this Section 9.11.
Furthermore, the Borrower shall cause to be delivered to the Collateral Agent such opinions of
counsel, title insurance and other related documents as may be reasonably requested by the
Collateral Agent to assure itself that this Section 9.11 has been complied with.

          (f) The security interests required to be granted pursuant to this Section 9.11 shall be
granted pursuant to security documentation which shall be substantially similar to the Security
Documents previously executed and delivered by the Borrower or its Subsidiaries, as applicable and
otherwise reasonably satisfactory in form and substance to the Administrative Agent and shall
constitute valid and enforceable perfected security interests prior to the rights of all third
Persons and subject to no other Liens except such Liens and priority as are permitted by Section
10.01. The Additional Security Documents and other instruments related thereto shall be duly
recorded or filed in such manner and in such places and at such times as are required by law to
establish, perfect, preserve and protect the Liens, in favor of the Collateral Agent for the
benefit of the respective Secured Creditors, required to be granted pursuant to the Additional
Security Documents and all taxes, fees and other charges payable in connection therewith shall

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be paid in full by the Borrower. At the time of the execution and delivery of the Additional
Security Documents, the Borrower shall cause to be delivered to the Collateral Agent such opinions
of counsel, Mortgage Policies, title surveys, real estate appraisals and other related documents as
may be reasonably requested by the Administrative Agent or the Required Lenders to assure
themselves that this Section 9.11 has been complied with.

          (g) Subject to receipt of any requisite approvals under applicable Gaming Regulations, the
Borrower agrees that each action required above by Section 9.11(a), (b) and (e) shall be completed
as soon as possible, but in no event later than 60 days after such action is requested to be taken
by the Administrative Agent or the Required Lenders. Subject to receipt of any requisite approvals
under applicable Gaming Regulations, the Borrower further agrees that each action required by
Sections 9.11(c) and (d) shall be completed within 30 days of the creation or acquisition of a new
Subsidiary subject thereto (or within 30 days of the date a Subsidiary first becomes a Material
Subsidiary, as the case may be) (or within such additional time period as may be required by
applicable Gaming Authorities or to obtain any requisite approvals under applicable Gaming
Regulations).

          (h) Neither the Borrower nor any of its Subsidiaries which is a Credit Party shall be required
to pledge more than 65% of the total outstanding Voting Stock of any Foreign Subsidiary (although
100% of the non-Voting Stock of each Foreign Subsidiary which is a Material Subsidiary owned by any
Credit Party shall be required to be so pledged) and Foreign Subsidiaries of the Borrower shall not
be required to enter into the Subsidiary Guaranty or any of the Security Documents.

          9.12 Ratings. The Borrower shall use commercially reasonable efforts to maintain a
public corporate rating from S&P and a public corporate family rating from Moody’s, in each case
with respect to the Borrower, and a rating of the Indebtedness under this Agreement by each of S&P
and Moody’s.

          9.13 Permitted Acquisitions. (a) Subject to the provisions of this Section 9.13 and
the requirements contained in the definition of Permitted Acquisition, the Borrower and any of its
Wholly-Owned Domestic Subsidiaries may from time to time effect Permitted Acquisitions, so long as
(in each case except to the extent the Required Lenders otherwise specifically agree in writing in
the case of a specific Permitted Acquisition):

     (i) no Default or Event of Default shall be in existence at the time of the
consummation of the proposed Permitted Acquisition (or, if earlier, the date on which the
Borrower or its Subsidiary enters into a binding agreement for such Permitted Acquisition,
in each case both before and after giving effect thereto);

     (ii) the Borrower shall have given the Administrative Agent at least ten Business Days’
prior written notice of any Permitted Acquisition (or such shorter period as may be agreed
to by the Administrative Agent) and shall have given the Lenders such other information
related to the Person or business, division or product line being acquired and the Permitted
Acquisition as any Lender shall reasonably request, including, if such acquisition is a
Significant Permitted Acquisition, due diligence materials,

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organizational documents, good standing certificates, governmental approvals and
consents as the Required Lenders shall reasonably request;

     (iii) if such acquisition is a Significant Permitted Acquisition or if such Permitted
Acquisition is being made in reliance on sub-clause (y) of clause (iv) below, calculations
are made by the Borrower of compliance with the covenants contained in Sections 10.08 and
10.09, on a Pro Forma Basis and/or compliance with sub-clause (y) of clause
(iv) below, as if the respective Permitted Acquisition (as well as all other Permitted
Acquisitions theretofore consummated) had occurred on the first day of the relevant
Calculation Period, and such calculations shall show that such financial covenants would
have been complied with if the Permitted Acquisition had occurred on the first day of such
Calculation Period;

     (iv) either (x) the aggregate Maximum Permitted Consideration paid in connection with
all Permitted Acquisitions consummated in reliance on this clause (x) after the Initial
Borrowing Date and on or prior to the date of the consummation of the proposed Permitted
Acquisition does not exceed $200,000,000 or (y) after giving effect to such Permitted
Acquisition the Total Net Leverage Ratio determined on a Pro Forma Basis,
for the Test Period ending on the last day of the fiscal quarter preceding the date on which
such Permitted Acquisition is consummated for which financial statements are available,
would be no greater than 0.25x less than the maximum Total Net Leverage Ratio set forth in
Section 10.09, it being acknowledged and agreed that the required ratio levels to be
satisfied will be the levels applicable on the last day of the fiscal quarter in which such
Permitted Acquisition is made;

     (v) all representations and warranties contained herein and in the other Credit
Documents (other than exceptions thereto agreed by the Administrative Agent with respect to
the Permitted Acquisition) shall be true and correct in all material respects with the same
effect as though such representations and warranties had been made on and as of the date of
such Permitted Acquisition (or, if earlier, the date on which the Borrower or its Subsidiary
enters into a binding agreement for such Permitted Acquisition, in each case both before and
after giving effect thereto), unless stated to relate to a specific earlier date, in which
case such representations and warranties shall be true and correct in all material respects
as of such earlier date;

     (vi) if such acquisition is a Significant Permitted Acquisition or if the
Administrative Agent requests, the Borrower provides to the Administrative Agent and the
Lenders as soon as available, but not later than 10 Business Days after the execution
thereof, a copy of any executed purchase agreement or similar agreement with respect to such
Permitted Acquisition; and

     (vii) the Borrower shall have delivered to the Administrative Agent an officer’s
certificate executed by an Authorized Officer of the Borrower, certifying to the best of his
knowledge, compliance with the requirements of preceding clauses (i) through (vi),
inclusive, containing the calculations required by the preceding clauses (iii) and (iv), if
applicable.

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          (b) In the case of Permitted Acquisitions involving the creation or acquisition of a
Subsidiary, or the acquisition of any Equity Interests of any Person, the Equity Interests thereof
created or acquired in connection with such Permitted Acquisition shall be pledged for the benefit
of the Secured Creditors pursuant to the Pledge Agreement in accordance with the requirements of
Section 9.11, to the extent applicable.

          (c) The Borrower shall cause each Subsidiary which is formed to effect, or is acquired
pursuant to, a Permitted Acquisition to comply with, and to execute and deliver, all of the
documentation required by, Section 9.11 to the reasonable satisfaction of the Administrative Agent.

          (d) The consummation of each Permitted Acquisition shall be deemed to be a representation and
warranty by the Borrower that the certifications by the Borrower (or by one or more of its
Authorized Officers) pursuant to Section 9.13(a) are true and correct and that all conditions
thereto have been satisfied and that such acquisition is permitted in accordance with the terms of
this Agreement, which representation and warranty shall be deemed to be a representation and
warranty for all purposes hereunder, including, without limitation, Sections 7 and 11.

          9.14 Compliance with Environmental Laws. (a) (i) The Borrower will comply, and will
use its best efforts to cause each of its Subsidiaries to comply, with all Environmental Laws
applicable to the ownership or use of its Real Property now or hereafter owned or operated by the
Borrower or any of its Subsidiaries, will promptly pay or cause to be paid all costs and expenses
incurred in connection with such compliance, and will keep or cause to be kept all such Real
Property free and clear of any Liens imposed pursuant to such Environmental Laws and (ii) neither
the Borrower nor any of its Subsidiaries will generate, use, treat, store, release or dispose of,
or permit the generation, use, treatment, storage, release or disposal of Hazardous Materials on
any Real Property now or hereafter owned or operated by the Borrower or any of its Subsidiaries, or
transport or permit the transportation of Hazardous Materials to or from any such Real Property,
except in compliance with all Environmental Laws and reasonably required in connection with the
operation, use and maintenance of any such Real Property in the Borrower’s or such Subsidiary’s
business, and except to the extent that the failure to comply with the requirements specified in
clause (i) or (ii) above, either individually or in the aggregate, could not reasonably be expected
to result in liability under Environmental Laws that could have a Material Adverse Effect. If
required to do so under any applicable legally binding directive or order of any governmental
agency, the Borrower agrees to undertake, and cause each of its Subsidiaries to undertake, to the
extent required under applicable Environmental Laws, any cleanup, removal, remedial or other action
necessary to remove and clean up any Hazardous Materials from any Real Property owned or operated
by the Borrower or any of its Subsidiaries in accordance with the requirements of all applicable
Environmental Laws and in accordance with such legally binding orders and directives of all
governmental authorities, except to the extent that (x) the Borrower or such Subsidiary is
contesting such order or directive in good faith and by appropriate proceedings and for which
adequate reserves have been established to the extent required by GAAP or (y) the failure to take
any such action could not reasonably be expected to have a Material Adverse Effect.

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          (b) At the written request of the Administrative Agent or the Required Lenders, at any time
and from time to time as is reasonable after (i) the Obligations have become due and payable
pursuant to Section 11 or (ii) the Lenders receive notice under Section 9.01(h) for any event for
which notice is required to be delivered with respect to conditions at any Real Property, the
Borrower and its Subsidiaries will provide, at their sole cost and expense, an environmental site
assessment report of reasonable scope and expense concerning any relevant Real Property now or
hereafter owned or operated by the Borrower or any of its Subsidiaries, prepared by an
environmental consulting firm approved by the Administrative Agent in its reasonable discretion,
indicating the presence or absence of Hazardous Materials and the potential cost of any removal or
remedial action in connection with any Hazardous Materials on such Real Property. If the Borrower
and any of its Subsidiaries fail to provide the same within 45 days after such request was made,
the Administrative Agent may order the same, and the Borrower and its Subsidiaries, to the extent
the Borrower and any of its Subsidiaries have the authority to do so, shall grant and hereby grant,
to the Administrative Agent and the Lenders, access to such Real Property and specifically grant
the Administrative Agent and the Lenders an irrevocable non-exclusive license, subject to the
rights of tenants, to undertake such an assessment, all at the Borrower’s and its Subsidiary’s
expense.

          SECTION 10. Negative Covenants. The Borrower covenants and agrees that on and after
the Effective Date and until the Total Commitment and all Letters of Credit have terminated (or
such Letters of Credit have been cash collateralized or backstopped on terms, and pursuant to
documentation, reasonably satisfactory to the applicable Issuing Lender thereof) and the Loans,
Notes and Unpaid Drawings, together with interest, Fees and all other Obligations incurred
hereunder and thereunder, are paid in full:

          10.01 Liens. The Borrower will not, and will not permit any of its Subsidiaries to,
create, incur, assume or suffer to exist any Lien upon or with respect to any property or assets
(real or personal, tangible or intangible) of the Borrower or any of its Subsidiaries, whether now
owned or hereafter acquired; provided that the provisions of this Section 10.01 shall not
prevent the creation, incurrence, assumption or existence of the following (Liens described below
are herein referred to as “Permitted Liens”):

     (i) Liens for taxes, assessments or governmental charges or levies not yet due and
payable or which are being contested in good faith and by appropriate proceedings for which
adequate reserves have been established in accordance with GAAP or Liens for property taxes
on property which is to be abandoned or for which the sole recourse for such tax, assessment
or governmental charge or levy is to such property;

     (ii) Liens in respect of property or assets of the Borrower or any of its Subsidiaries
imposed by law, which do not secure Indebtedness for borrowed money, such as carriers’,
warehousemen’s, materialmen’s and mechanics’ liens and other similar Liens, and (x) which do
not in the aggregate materially detract from the value of the Borrower’s or such
Subsidiary’s property or assets or materially impair the use thereof in the operation of the
business of the Borrower or such Subsidiary or (y) which are being contested in good faith
by appropriate proceedings for which adequate reserves with respect thereto are maintained
in accordance with GAAP;

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     (iii) Liens in existence on the Effective Date which are listed in Schedule 10.01(iii)
and securing Indebtedness incurred pursuant to Section 10.04(v); provided that
Liens securing any Permitted Refinancing Indebtedness incurred pursuant thereto does not
encumber any additional assets or properties of the Borrower or any of its Subsidiaries;

     (iv) Permitted Encumbrances;

     (v) Liens created by or pursuant to the Security Documents and Liens on Collateral
securing Permitted Second Lien Notes and Permitted First Lien Notes permitted pursuant to
Section 10.04(i)(B) or Section 10.04(xi) and any Permitted Refinancing Indebtedness in
respect thereof incurred pursuant to Sections 10.04(i)(B) and 10.04(xiii);

     (vi) licenses, leases or subleases granted to other Persons not materially interfering
with the conduct of the business of the Borrower and its Subsidiaries taken as a whole;

     (vii) Liens securing Indebtedness permitted by Section 10.04(iii); provided
that such Liens do not encumber any asset of the Borrower or any Subsidiary of the Borrower
other than the property or equipment that is purchased, leased, constructed, installed or
improved;

     (viii) easements, rights-of-way, restrictions (including zoning restrictions),
encroachments, licenses, protrusions and other similar charges or encumbrances, and minor
title deficiencies or irregularities, in each case whether now or hereafter in existence,
not securing Indebtedness for borrowed money and not materially interfering with the conduct
of the business of the Borrower or any of its Subsidiaries;

     (ix) Liens arising from precautionary UCC financing statement filings regarding
operating leases entered into by the Borrower or any of its Subsidiaries;

     (x) Liens arising out of the existence of judgments or awards not constituting an Event
of Default under Section 11.09;

     (xi) statutory, contractual and common law landlords’ liens under leases to which the
Borrower or any of its Subsidiaries is a party;

     (xii) Liens (other than any Lien imposed by ERISA) incurred or deposits made in the
ordinary course of business in connection with workers’ compensation, unemployment insurance
and other types of social security, or to secure the performance of tenders, statutory
obligations, surety, stay, customs and appeal bonds, statutory bonds, bids, leases,
government contracts, trade contracts, performance and return of money bonds and other
similar obligations (exclusive of obligations for the payment of borrowed money);

     (xiii) any interest or title of a lessor, sublessor, licensee or licensor under any
lease or license agreement permitted by this Agreement;

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     (xiv) Liens in favor of a banking institution arising as a matter of law encumbering
deposits consisting of bankers’ liens, rights of set-off or similar rights and remedies
relating to the establishment of depository relations with banks not given in connection
with the issuance of Indebtedness;

     (xv) Liens arising in connection with transactions relating to the selling or
discounting of accounts receivable in the ordinary course of business;

     (xvi) Liens securing Indebtedness assumed in connection with a Permitted Acquisition
pursuant to Section 10.04(x); provided that (i) such Liens may not extend to any
other property owned by the Borrower or any Material Subsidiary and (ii) the aggregate
outstanding principal amount of the obligations secured thereby does not exceed (as to the
Borrower and all of its Subsidiaries) $15,000,000 at any one time;

     (xvii) Liens solely on any cash earnest money deposits made by the Borrower or any of
its Material Subsidiaries in connection with any letter of intent or purchase agreement in
respect of a Permitted Acquisition or Investment permitted under this Agreement;

     (xviii) in the case of any non-wholly owned Subsidiary or Investment Entity, any put
and call arrangements or restrictions on disposition related to its Equity Interests set
forth in its organizational documents or any related joint venture or similar agreement;

     (xix) Liens on cash and Cash Equivalents arising in connection with the defeasance,
discharge or redemption of Indebtedness; and

     (xx) Liens not otherwise permitted by this Section 10.01 so long as the aggregate
outstanding principal amount of the obligations secured thereby does not exceed (as to the
Borrower and all of its Subsidiaries) $10,000,000 at any one time.

          10.02 Consolidation, Merger, Purchase or Sale of Assets, etc. The Borrower will not,
and will not permit any of its Subsidiaries to, wind up, liquidate or dissolve its affairs or enter
into any transaction of merger or consolidation, or convey, sell, lease or otherwise dispose of (or
agree to do any of the foregoing at any future time) all or any part of its property or assets, or
enter into any sale-leaseback transactions, or purchase or otherwise acquire (in one or a series of
related transactions) assets constituting a business, division or product line of any Person not
already a Subsidiary of the Borrower or of 50% or more of the Equity Interests of such Person,
except that:

     (i) the Borrower and its Subsidiaries may make Capital Expenditures to the extent not
in violation of Section 10.07;

     (ii) the Borrower and its Subsidiaries may sell, lease or otherwise dispose of assets
in the ordinary course of business;

     (iii) the Borrower and its Subsidiaries may sell, lease or otherwise dispose of one or
more of the Specified Casino Properties including by merger of a Subsidiary owning any such
Specified Casino Properties, provided that (a) the aggregate amount of

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the sale proceeds received from all such sales, leases or other dispositions shall not
exceed $300,000,000, (b) the Borrower or a Material Subsidiary, as the case may be,
receives consideration for such sale, lease or disposition at least equal to the fair market
value of the assets sold or otherwise disposed of as determined in good faith by the Board
of Directors of the Borrower, (c) at least 75% of the purchase price for such sale, lease or
other disposition is paid in cash or Cash Equivalents received at the consummation of such
sale, lease or other disposition (and, for purposes of this clause (c) Cash shall include
(x) any liabilities assumed by the transferee, (y) any notes or other obligations or
securities or assets received by the Borrower or its Subsidiaries from the transferee to the
extent converted into Cash or Cash Equivalents within 180 days and (z) long-term productive
assets received by the Borrower or its Subsidiaries from the transferee), and (d) the Net
Asset Sale Proceeds thereof are applied as set forth in Section 5.02;

     (iv) the Borrower and its Subsidiaries may sell, lease, transfer, convey or otherwise
dispose of property, equipment or any other asset that is (a) obsolete or worn out or (b) no
longer useful or necessary in the operation of the business of such Person;

     (v) the Borrower and its Subsidiaries may make Investments to the extent permitted by
Section 10.05;

     (vi) the Borrower or any Subsidiary may transfer or lease assets to the Borrower or any
other Subsidiary Guarantor, any Subsidiary of the Borrower may be merged or consolidated
with or into, or be liquidated into, the Borrower or any Subsidiary Guarantor (so long as
the Borrower or such Subsidiary Guarantor is the surviving corporation) and any Foreign
Subsidiary may be merged into another Foreign Subsidiary;

     (vii) the Borrower and its Subsidiaries may transfer, license or sublicense to any
other Subsidiary, on a non-exclusive basis, rights to use software, trademarks and other
intellectual property and proprietary information;

     (viii) the Borrower and its Subsidiaries may make sales, transfers or other
dispositions the proceeds of which do not exceed $10,000,000 for any transaction or series
of related transactions;

     (ix) any taking by a Governmental Authority of assets or property, or any part thereof,
for public or quasi-public use under the power of eminent domain shall be permitted under
this Section 10.04, so long as the net proceeds, if any, of any such disposition received by
the Borrower or any Subsidiary shall be treated as if they were Net Insurance Proceeds of a
Recovery Event and applied in accordance with Section 5.02(f);

     (x) the Borrower and its Subsidiaries may make sales, transfers or other dispositions
of property subject to a Recovery Event upon receipt of the Net Insurance Proceeds of such
Recovery Event, so long as the net proceeds, if any, of any such disposition received by the
Borrower or any Subsidiary shall be treated as if they were Net Insurance Proceeds of a
Recovery Event and applied in accordance with Section 5.02(f);

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     (xi) the granting, creation or existence of a Permitted Lien, and any dispositions of
assets pursuant to an exercise of remedies, including by way of foreclosure, against the
underlying assets subject to such Permitted Liens, under circumstances not otherwise
resulting in a Default or Event of Default, shall be permitted under this Section 10.04;

     (xii) the Borrower and its Subsidiaries may make sales, transfers or other dispositions
of Investments in joint ventures to the extent required by, or made pursuant to, customary
buy/sell arrangements between the joint venture parties set forth in joint venture
arrangements and similar binding arrangements;

     (xiii) the Borrower and its Subsidiaries may make Permitted Acquisitions so long as
such Permitted Acquisitions are effected in accordance with Section 9.13; and

     (xiv) the Borrower may sell, transfer, merge, liquidate or dissolve Subsidiaries which
are not Material Subsidiaries.

To the extent the Required Lenders waive the provisions of this Section 10.02 with respect to the
sale of any Collateral, or any Collateral is sold as permitted by this Section 10.02 (other than to
another Credit Party or pursuant to clause (vi) hereof), such Collateral shall be sold free and
clear of the Liens created by the Security Documents, and the Administrative Agent and Collateral
Agent shall be authorized to take any actions deemed appropriate in order to effect the foregoing
and shall, at the request of the Borrower, take any such actions reasonably appropriate to effect
the foregoing.

          10.03 Dividends. The Borrower shall not, and shall not permit any of its Subsidiaries
to, authorize, declare or pay any Dividends with respect to the Borrower or any of its Subsidiaries
except that:

     (i) any Subsidiary of the Borrower may pay Dividends to the Borrower or any
Wholly-Owned Subsidiary of the Borrower or to the holders of its Equity Interests so long as
the Borrower and/or its respective Subsidiaries which own Equity Interests in the Subsidiary
paying such Dividends receive at least their proportionate share thereof (based upon their
relative holdings of the Equity Interests in the Subsidiary paying such cash Dividends and
taking into account the relative preferences, if any, of the various classes of Equity
Interests of such Subsidiary);

     (ii) so long as (x) no Default or Event of Default exists or would result therefrom and
(y) the Borrower shall be in compliance with Sections 10.08, 10.09 and 10.10 on a
Pro Forma Basis after giving effect to such Dividend, the Borrower may
authorize, declare or pay Dividends so long as the aggregate amount paid (or value of
property distributed) in respect of all such Dividends (x) from the Effective Date through
December 31, 2011, shall not exceed $12,000,000 and (y) during any fiscal year thereafter
shall not exceed $16,000,000, provided that the amount of the basket not utilized in any
fiscal year may be utilized in any subsequent fiscal year;

     (iii) the Borrower may authorize, declare or pay Dividends so long as (x) no Default or
Event of Default exists or would result therefrom, (y) the Borrower shall be in

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compliance with Sections 10.08, 10.09 and 10.10 on a Pro Forma Basis
after giving effect to such any Dividend and (z) after giving effect to any such Dividend,
the aggregate amount of Dividends paid since the Effective Date in reliance on this clause
(iii) shall not exceed an amount equal to (1) the Restricted Payment Basket Amount
less (2) the aggregate amount of Investments made since the Effective Date pursuant
to Section 10.05(xvii) less (3) the aggregate amount of payments, prepayments,
redemptions or acquisitions of Specified Indebtedness made since the Effective Date pursuant
to Section 10.11(iii)(y);

     (iv) the Borrower may make the Stock Repurchase on or before the date which is 90 days
after the Initial Borrowing Date;

     (v) the Borrower may pay Dividends solely in the form of Equity Interests (other than
Disqualified Stock);

     (vi) the Borrower may pay Dividends within 60 days of the date of declaration in the
event that such Dividend was payable pursuant to the terms of Section 10.03(ii) or (iii) at
the time of declaration; provided that any amount paid under this Section 10.03(vi)
shall be deducted from the amount of Dividends otherwise payable pursuant to Section
10.03(ii) or 10.03(iii), as applicable;

     (vii) redemptions, repurchases, defeasances, repayments or other acquisitions or
retirements for value of Equity Interests to the extent required by any Gaming Authority
having jurisdiction over the Borrower or any Material Subsidiary or deemed necessary by the
Board of Directors of the Borrower in order to avoid the suspension, revocation or denial of
a gaming license by any Gaming Authority or other right to conduct lawful gaming operations;
provided that any amount paid under this Section 10.03(vii) shall be deducted from
the amount of Dividends otherwise payable pursuant to Section 10.03(ii) or 10.03(iii), as
applicable;

     (viii) repurchases of Equity Interests deemed to occur upon the exercise of stock
options to the extent such Equity Interests represent a portion of the exercise price of
those stock options, or upon the vesting of restricted stock, restricted stock units or
performance share units to the extent the amount of such repurchase is deducted as
compensation expense in the determination of Consolidated Net Income or is necessary to
satisfy tax withholding obligations attributable to such vesting;

     (ix) payments in lieu of fractional shares of the Borrower’s Equity Interests; and

     (x) the Borrower may purchase Equity Interests of the Borrower from present or former
officers, consultants, directors or employees (or their transferees, estates or
beneficiaries under their estates) of the Borrower or any Subsidiary following the death,
disability or termination of employment or service of such officer, consultant, director or
employee so long as (x) no Default or Event of Default exists at the time of such purchase
or as a result therefrom and (y) the aggregate amount of purchases made

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pursuant to this Section 10.03(x) in any fiscal year of the Borrower shall not exceed
$5,000,000.

          10.04 Indebtedness. The Borrower will not, and will not permit any of its
Subsidiaries to, contract, create, incur, assume or suffer to exist any Indebtedness, except:

     (i) Indebtedness of the Borrower and its Subsidiaries incurred pursuant to (A) this
Agreement (including Sections 2.15 and 2.16) and the other Credit Documents and (B)
Permitted Refinancing Indebtedness incurred with respect to indebtedness theretofore
outstanding pursuant to this clause (i); provided that (x) Permitted Refinancing
Indebtedness incurred pursuant to this clause (i)(B) may only be in the form of one or more
issues of Permitted First Lien Notes, Permitted Second Lien Notes or Permitted Unsecured
Notes and (y) if any such Permitted Refinancing Indebtedness is incurred to replace or
refinance Revolving Loan Commitments or outstandings pursuant thereto, there shall be
required to be a permanent reduction to the Total Revolving Loan Commitment in an amount
equal to the respective Permitted Refinancing Indebtedness (in which case Revolving Loans or
Swingline Loans then outstanding pursuant to the Revolving Loan Commitments shall be
required to be repaid with such amounts only to the extent then outstanding in excess of
such Revolving Loan Commitments as reduced);

     (ii) Indebtedness under Interest Rate Protection or Other Hedging Agreements to the
extent entered into pursuant to Section 10.05;

     (iii) Indebtedness of the Borrower and any Subsidiary of the Borrower (including
Capitalized Lease Obligations and purchase money Indebtedness) incurred to finance the
purchase, lease, construction, installation or improvement of property (real or personal) or
equipment that is used or useful in a business permitted by Section 10.14, whether through
the direct purchase of assets or the Equity Interests of any Person owning such assets and
any Permitted Refinancing Indebtedness in respect thereof; provided that the
aggregate amount of such Indebtedness and all such Permitted Refinancing Indebtedness
outstanding under this clause (iii) at any one time shall not exceed the greater of (A)
$25,000,000 and (B) 1.25% of Consolidated Net Tangible Assets at the time of incurrence;

     (iv) Indebtedness of the Borrower and the Subsidiary Guarantors in respect of Senior
Notes, together with any Permitted Refinancing Indebtedness in respect thereof, in an
aggregate principal amount not to exceed $800,000,000 (plus all accrued interest and the
amount of all underwriting discounts, fee, expenses and premiums incurred in connection with
any such Permitted Refinancing Indebtedness) at any one time outstanding, less the amount of
principal payments, redemptions or purchases thereof made with asset sale proceeds pursuant
to the terms of the Senior Notes;

     (v) the Existing Indebtedness and any Permitted Refinancing Indebtedness in respect
thereof;

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     (vi) Contingent Obligations of the Borrower or any Subsidiary with respect to any
Indebtedness of the Borrower or a Subsidiary permitted by this Section 10.04 (other than
Section 10.04(i)(B), (iv), (x) and (xi)) or permitted under Section 10.05(v));

     (vii) (x) the Borrower may make loans or advances to any Subsidiary Guarantor, (y) any
Subsidiary of the Borrower may make loans or advances to the Borrower or to any Subsidiary
Guarantor and (z) the Borrower or any Subsidiary of the Borrower may make loans or advances
to any other Subsidiary that is not a Subsidiary Guarantor, so long as, (A) in the case of
any intercompany loans or advances made to the Borrower or a Subsidiary Guarantor by a
Subsidiary that is not a Subsidiary Guarantor, such loans shall be evidenced by notes that
contain subordination provisions contained in Exhibit N and (B) the aggregate principal
amount of any loans and advances made by the Borrower or any Subsidiary Guarantor described
in clause (z) shall not exceed $10,000,000 outstanding at any time;

     (viii) Indebtedness of the Borrower or its Subsidiaries in respect of trade-related
letters of credit, in each case provided in the ordinary course of business, and any
extension, renewal or refinancing thereof to the extent not provided to secure the repayment
of other Indebtedness and to the extent that the amount of refinancing Indebtedness is not
greater than the amount of Indebtedness being refinanced plus any discounts, fees, expenses
and premiums incurred in connection therewith;

     (ix) Indebtedness arising from the honoring by a bank or other financial institution of
a check, draft or similar instrument drawn against insufficient funds in the ordinary course
of business; provided that such Indebtedness is extinguished within two Business
Days of its incurrence;

     (x) additional Indebtedness of the Borrower and the Subsidiary Guarantors incurred to
finance, or assumed in connection with, a Permitted Acquisition; provided that (w)
no Event of Default then exists or would result therefrom, (x) such Indebtedness is
unsecured, (y) the maturity date of such Indebtedness and any mandatory redemptions in
connection therewith occur in each case after the date that is six months after the B Term
Loan Maturity Date (other than customary asset sale and change of control offers) and (z)
after giving effect to such Indebtedness, in each case for the Test Period ending on the
last day of the fiscal quarter preceding the date on which such Indebtedness is incurred for
which financial statements are available, the Borrower will be in compliance with the
Financial Covenants set forth in Sections 10.08 and 10.10 determined on a Pro
Forma basis and the Total Net Leverage Ratio determined on a Pro
Forma Basis would be no greater than 0.25x less than the maximum Total Net Leverage
Ratio set forth in Section 10.09, it being acknowledged and agreed that the required ratio
levels to be satisfied will be the levels applicable on the last day of the fiscal quarter
in which such Indebtedness is incurred;

     (xi) additional Indebtedness of the Borrower and the Subsidiary Guarantors;
provided that (w) no Event of Default then exists or would result therefrom, (x)
such Indebtedness consists of Permitted Unsecured Notes or Permitted Second Lien Notes and
(y) after giving effect to such Indebtedness, in each case for the Test Period ending on the

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last day of the fiscal quarter preceding the date on which such Indebtedness is
incurred for which financial statements are available, the Borrower will be in compliance
with the Financial Covenants set forth in Sections 10.08 and 10.10 determined on a
Pro Forma Basis and the Total Net Leverage Ratio determined on a Pro
Forma Basis would be no greater than 0.25x less than the maximum Total Net Leverage
Ratio set forth in Section 10.09 for the last day of such fiscal quarter, it being
acknowledged and agreed that the required ratio levels to be satisfied will be the levels
applicable on the last day of the fiscal quarter in which such Indebtedness is incurred;

     (xii) Indebtedness consisting of the financing of insurance premiums, in each case
entered into in the ordinary course of business;

     (xiii) Permitted Refinancing Indebtedness incurred in respect of the Indebtedness
incurred pursuant to clause (x) or clause (xi) of this Section 10.04; and

     (xiv) additional Indebtedness of the Borrower and its Subsidiaries not to exceed
$50,000,000 in aggregate principal amount outstanding at any time.

          10.05 Advances, Investments and Loans. The Borrower will not, and will not permit any
of its Subsidiaries to, directly or indirectly, lend money or credit (including pursuant to a
guaranty) or make advances to any Person, or purchase or acquire any stock, obligations or
securities of, or any other interest in, or make any capital contribution to, any other Person, or
purchase or own a futures contract or otherwise become liable for the purchase or sale of currency
or other commodities at a future date in the nature of a futures contract (each of the foregoing an
“Investment” and collectively, the “Investments”), except that the following shall
be permitted:

     (i) the Borrower and its Subsidiaries may acquire and hold accounts receivables owing
to any of them, if created or acquired in the ordinary course of business and payable or
dischargeable in accordance with customary terms;

     (ii) the Borrower and its Subsidiaries may acquire and hold cash and Cash Equivalents;

     (iii) the Borrower and its Subsidiaries may make loans and advances in the ordinary
course of business to their respective officers, directors and employees so long as the
aggregate principal amount thereof at any time outstanding (determined without regard to any
write-downs or write-offs of such loans and advances) shall not exceed $10,000,000;

     (iv) the Borrower and its Subsidiaries may enter into non-speculative Interest Rate
Protection or Other Hedging Agreements;

     (v) the Borrower and its Subsidiaries may incur Contingent Obligations in Native
American Subsidiaries or other Persons in support of capital projects entered into in
conjunction with Persons which are not Subsidiaries of the Borrower; provided that
the exposure incurred by the Borrower and its Subsidiaries in respect of such Contingent

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Obligations shall be expressly limited to an aggregate amount which is not in excess of
$250,000,000;

     (vi) the Borrower and any of its Subsidiaries may make Investments in any Subsidiary
that is not a Material Subsidiary;

     (vii) the Borrower and its Subsidiaries may acquire and own promissory notes and other
similar non-cash consideration received by the Borrower and its Subsidiaries in connection
with dispositions not prohibited by Section 10.02;

     (viii) the Borrower and its Subsidiaries may acquire and own investments (including
debt obligations) received in connection with the bankruptcy or reorganization of suppliers
and customers and in settlement of delinquent obligations of, and other disputes with,
customers and suppliers;

     (ix) the Borrower or any Subsidiary may make Investments in the Borrower or any
Subsidiary Guarantor;

     (x) the Borrower and its Subsidiaries may make Permitted Acquisitions permitted under
Section 9.13 and Capital Expenditures permitted under Section 10.07;

     (xi) the Borrower and its Subsidiaries may incur Indebtedness permitted under Section
10.04;

     (xii) the Borrower and its Subsidiaries may make Investments with the net cash proceeds
of new issuances of common Equity Interests of the Borrower so long as such Investments are
made within 180 days following the date of receipt of such proceeds;

     (xiii) in addition to investments permitted by clauses (i) through (xii) and clauses
(xiv) through (xvii) of this Section 10.05, the Borrower and its Subsidiaries may make
Investments on any date in an amount not to exceed the Available Investment Basket Amount on
such date, it being understood and agreed that to the extent the Borrower or one or more
other Credit Parties (after the respective Investment has been made) receives (A) a cash
return from the respective Investment previously invested pursuant to this clause (xiii)
(which cash return may be made by way of repayment of principal in the case of loans and
cash equity returns (whether as a distribution, dividend or redemption or proceeds of a
disposition) in the case of equity investments), (B) a reduction or termination of an
Investment in the form of a Contingent Obligation made under this clause (xiii) or (C) a
return in the form of an asset distribution in respect of the respective Investment
previously invested pursuant to this clause (xiii), then the amount of such cash return of
investment, such reduction or termination of a Contingent Obligation or the fair market
value of such distributed asset (as determined in good faith by senior management of the
Borrower), as the case may be, shall apply to increase the Available Investment Basket
Amount; provided that the aggregate amount of increases to the Available Investment
Basket Amount described above in respect of any Investment shall not exceed the amount
previously invested pursuant to this clause (xiii) in such Investment;

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     (xiv) Investments of a Subsidiary acquired after the Effective Date or of a Person
merged or consolidated with or into the Borrower or a Subsidiary, in each case in accordance
with the terms of this Agreement to the extent that such Investments were not made in
contemplation of or in connection with such acquisition, merger or consolidation, do not
constitute a material portion of the aggregate assets acquired by the Borrower and its
Material Subsidiaries in such transaction and were in existence on the date of such
acquisition, merger or consolidation;

     (xv) Guarantees by the Borrower or any of its Subsidiaries of leases (other than
Capitalized Lease Obligations) or of other obligations that do not constitute Indebtedness,
in each case entered into in the ordinary course of business;

     (xvi) Investments in the nature of pledges or deposits with respect to leases or
utilities provided to third parties in the ordinary course of business; and

     (xvii) the Borrower and its Subsidiaries may make Investments so long as (x) no Default
or Event of Default exists or would result therefrom, (y) the Borrower shall be in
compliance with Sections 10.08, 10.09 and 10.10 on a Pro Forma Basis after
giving effect to such Investment and (z) after giving effect to such Investment, the
aggregate amount of Investments made since the Effective Date pursuant to this clause (xiv)
shall not exceed an amount equal to (1) the Restricted Payment Basket Amount less (2) the
aggregate amount of Dividends paid since the Effective Date pursuant to Section 10.03(iii),
less (3) the aggregate amount of payments, prepayments, redemptions or acquisitions of
Specified Indebtedness made since the Effective Date pursuant to Section 10.11(iii)(y).

          10.06 Transactions with Affiliates. The Borrower will not, and will not permit any of
its Subsidiaries to, enter into any transaction or series of related transactions, whether or not
in the ordinary course of business, with any Affiliate of the Borrower or any of its Subsidiaries,
other than on terms and conditions substantially as favorable to the Borrower or such Subsidiary as
would reasonably be obtained by the Borrower or such Subsidiary at that time in a comparable
arm’s-length transaction with a Person other than an Affiliate, except that:

     (i) Dividends may be paid to the extent provided in Section 10.03;

     (ii) loans may be made and other transactions may be entered into by the Borrower and
its Subsidiaries to the extent permitted by Sections 10.02, 10.04 and 10.05;

     (iii) customary fees, indemnities and reimbursements may be paid to officers,
employees, consultants and directors of the Borrower and its Subsidiaries;

     (iv) the Borrower and its Subsidiaries may enter into and make payments and provide
benefits pursuant to reasonable and customary employment arrangements with officers and
senior management employees;

     (v) the Borrower and its Subsidiaries may make payments and provide benefits pursuant
to Employment Agreements existing on the Initial Borrowing Date;

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     (vi) the Borrower and its Subsidiaries may make payments pursuant to the Tax Sharing
Agreements or under substantially similar agreements with existing Subsidiaries or
Subsidiaries created or acquired after the Effective Date;

     (vii) the Borrower and the Subsidiaries may enter into transactions among themselves;
and

     (viii) the Borrower may issue its capital stock (other than Disqualified Stock).

          10.07 Maximum Capital Expenditures. The Borrower will not, and will not permit any of
its Subsidiaries to, make any Capital Expenditures, except that:

     (i) the Borrower and its Subsidiaries may make Capital Expenditures so long as the
aggregate amount of such Capital Expenditures made under this Section 10.07(i) does not
exceed $80,000,000 for any fiscal year of the Borrower, provided that in each case
the aggregate amount of such Capital Expenditures permitted under this Section 10.07(i) that
is not expended in a fiscal year may be carried over for expenditure in any subsequent
fiscal year, and

     (ii) the Borrower and its Subsidiaries may make Capital Expenditures in addition to
Capital Expenditures permitted under clause (i) above provided that at the time that such
Capital Expenditure is incurred, and after giving effect to the incurrence or assumption of
any Indebtedness to finance such Capital Expenditure, the Borrower shall be in compliance on
an Pro Forma Basis, in each case for the Test Period ending on the last day
of the fiscal quarter preceding the date on which such Capital Expenditure is made for which
financial statements are available, with the Financial Covenants set forth in Sections 10.08
and 10.10 and with a Total Net Leverage Ratio that is at least 0.25x lower than the maximum
Total Net Leverage Ratio set forth in Section 10.10, it being acknowledged and agreed that
the required ratio levels to be satisfied will be the levels applicable on the last day of
the fiscal quarter in which such Capital Expenditure is made.

          10.08 Senior Secured Net Leverage Ratio. The Borrower will not permit the Senior
Secured Net Leverage Ratio as of the last day of any fiscal quarter set forth below to be greater
than the ratio set forth opposite such period below:

	 	 	 	 	 
	Test Period	 	Ratio
	Commencing June 30, 2011 and for each remaining fiscal quarter
in 2011
	 	 	4.50:1.00	 
	For each fiscal quarter ending in 2012
	 	 	4.00:1.00	 
	For each fiscal quarter ending in 2013, and thereafter
	 	 	3.50:1.00	 

          10.09 Total Net Leverage Ratio. The Borrower will not permit the Total Net Leverage
Ratio as of the last day of any fiscal quarter set forth below to be greater than the ratio set
forth opposite such period below:

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	Test Period	 	Ratio
	Commencing June 30, 2011 and for each remaining fiscal quarter
in 2011

	 	7.00:1.00
	For each fiscal quarter ending in 2012

	 	6.50:1.00
	For each fiscal quarter ending in 2013

	 	6.00:1.00
	For each fiscal quarter ending in 2014

	 	5.50:1.00
	For each fiscal quarter ending in 2015, and thereafter

	 	5.25:1.00

          10.10 Interest Expense Coverage Ratio. The Borrower will not permit the Interest
Expense Coverage Ratio as of the last day of any fiscal quarter of the Borrower, for any Test
Period ending on or after June 30, 2011, to be less than 2.00:1.00.

          10.11 Limitation on Modifications of Certificate or Articles of Incorporation, By-Laws and
Certain Other Agreements; Limitations of Prepayments and Modifications of Indebtedness; etc.
The Borrower will not, and will not permit any of its Subsidiaries to:

     (i) amend, modify or change its Certificate or Articles of Incorporation (including,
without limitation, by the filing or modification of any certificate of designation) or
By-Laws or equivalent organizational documents, other than any amendments, modifications or
changes which would not be reasonably likely to be materially adverse to the interest of the
Lenders,

     (ii) amend or modify, or permit the amendment or modification of, any provision of any
agreement relating to Specified Indebtedness or make any payment consistent with an
amendment thereof or change thereto, if the effect of such amendment or change could
reasonably be expected to be materially adverse to the Credit Parties, or

     (iii) make (or give any notice in respect thereof) any voluntary or optional payment or
prepayment on or voluntary or optional redemption or acquisition for value (including,
without limitation, by way of depositing with the trustee with respect thereto monies or
securities before due for the purpose of paying when due) of any Specified Indebtedness
other than:

     (x) from the proceeds of Permitted Refinancing Indebtedness incurred in respect
thereof, and

     (y) so long as (a) no Default or Event of Default exists or would result
therefrom, (b) the Borrower shall be in compliance with Sections 10.08, 10.09 and
10.10 on a Pro Forma Basis after giving effect to such payment,
prepayment, redemption or acquisition, and (c) after giving effect to any such
payment, prepayment, redemption or acquisition in reliance on this clause (y) the
aggregate amount of such payments, prepayments, redemptions or acquisitions made
since the Effective Date in reliance on this clause (y) shall not exceed an amount
equal

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to (1) the Restricted Payment Basket Amount less (2) the aggregate
amount of Dividends made since the Effective Date pursuant to Section 10.03(iii)
less (3) the aggregate amount of Investments made since the Effective Date
pursuant to Section 10.05(xvii).

          10.12 Limitation on Certain Restrictions on Subsidiaries. The Borrower will not, and
will not permit any of its Subsidiaries to, directly or indirectly, create or otherwise cause or
suffer to exist or become effective any encumbrance or restriction on the ability of any such
Subsidiary to (a) pay dividends or make any other distributions on its capital stock or any other
interest or participation in its profits owned by Borrower or any Subsidiary of the Borrower, or
pay any Indebtedness owed to the Borrower or any Subsidiary of the Borrower, (b) make loans or
advances to the Borrower or any Subsidiary of the Borrower or (c) transfer any of its properties or
assets to the Borrower or any Subsidiary of the Borrower, except for such encumbrances or
restrictions existing under or by reason of (i) applicable law, rules or regulations, (ii) this
Agreement and the other Credit Documents, (iii) customary provisions restricting subletting or
assignment of any lease governing a leasehold interest of the Borrower or any Subsidiary of the
Borrower, (iv) customary provisions restricting assignment of any contract or licensing agreement
entered into by the Borrower or any Subsidiary of the Borrower, (v) the Senior Notes Documents, any
Permitted First Lien Notes and any Permitted Refinancing Indebtedness in respect thereof so long as
the restrictions set forth in such Permitted Refinancing Indebtedness taken as a whole are not more
materially restrictive than the restrictions of the same type in the Senior Notes Documents, (vi)
restrictions imposed by agreements relating to Indebtedness permitted pursuant to Sections
10.04(iii) and (x) and Permitted Refinancing Indebtedness in respect thereof that imposes
restrictions taken as a whole that are not more materially restrictive than the restrictions of the
same type in the agreements for the Indebtedness being refinanced, (vii) Permitted Liens on assets
securing Indebtedness permitted under Section 10.04, (viii) restrictions applicable to assets
subject to an agreement for the sale or disposition of such assets, (ix) restrictions applicable to
Indebtedness, assets or capital stock of a Person acquired by the Borrower or any Subsidiary as in
effect at the time of acquisition, except if such restriction was incurred in connection with, or
in contemplation of, such acquisition or such restriction applies to the Borrower, any Subsidiary
(other than the Person acquired) or the assets thereof (other than the assets of the Person so
acquired) or any after-acquired property (other than proceeds of such assets), (x) any Permitted
Second Lien Notes and Permitted Unsecured Notes and Permitted Refinancing Indebtedness in respect
thereof that imposes restrictions taken as a whole that are not materially more restrictive than
the restrictions of the same type in the agreements for the Indebtedness being refinanced (or if
Indebtedness is not thereby being refinanced, restrictions of the same type in the Senior Notes
Documents) and (xi) customary provisions in joint venture agreements and other similar agreements
relating solely to such joint venture.

          10.13 Limitation on Issuance of Capital Stock. (a) The Borrower shall not issue any
Disqualified Stock.

          (b) The Borrower will not permit any of its Subsidiaries to issue any capital stock or other
Equity Interests (including by way of sales of treasury stock), except (i) for transfers and
replacements of then outstanding shares of capital stock, (ii) for stock splits, stock dividends
and similar issuances which do not decrease the percentage ownership of the Borrower

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or any of its Subsidiaries in any class of the capital stock of such Subsidiary, (iii) to
qualify directors to the extent required by applicable law, (iv) in connection with the creation or
acquisition of Subsidiaries of the Borrower which are not Wholly-Owned Domestic Subsidiaries, so
long as any Capital Stock therein owned by one or more Credit Parties are pledged pursuant to the
Pledge Agreement to the extent required by the terms thereof and Section 9.11 and (v) to the
Borrower or a Wholly-Owned Subsidiary.

          10.14 Business. The Borrower will not, and will not permit any of its Subsidiaries to,
engage (directly or indirectly) in any business other than the type of business in which the
Borrower and its Subsidiaries are engaged on the Effective Date, any reasonable extensions thereof
and any business reasonably related to, necessary for, in support or anticipation of, ancillary or
complementary to or in preparation for (or required by a Gaming Authority to be developed,
constructed, improved or acquired in connection with licensing approval for) any such business.

          SECTION 11. Events of Default. Upon the occurrence of any of the following specified
events (each an “Event of Default”):

          11.01 Payments. The Borrower shall (i) default in the payment when due of any
principal of any Loan or any Note or (ii) default, and such default shall continue unremedied for
three or more Business Days, in the payment when due of any Unpaid Drawings or interest on any Loan
or Note, or any Fees or any other amounts owing hereunder, thereunder or under any other Credit
Document; or

          11.02 Representations, etc. Any representation, warranty or statement made by any
Credit Party herein or in any other Credit Document or in any certificate delivered pursuant hereto
or thereto shall prove to be untrue in any material respect on the date as of which made or deemed
made; or

          11.03 Covenants. The Borrower shall (i) default in the due performance or observance
by it of any term, covenant or agreement contained in Section 8.08, 9.01(f)(i), 9.07 or Section 10
or (ii) default in the due performance or observance by it of any other term, covenant or agreement
contained in this Agreement (other than as described in Section 11.01, 11.02 or 11.03(i)), and such
default shall continue unremedied for a period of 30 days after written notice to the Borrower by
the Administrative Agent or any Lender specifying such default; or

          11.04 Default Under Other Agreements. The Borrower or any of its Subsidiaries shall
(i) default in any payment of any Indebtedness (other than the Obligations) beyond the period of
grace, if any, provided in the instrument or agreement under which such Indebtedness was created or
(ii) default in the observance or performance of any agreement or condition relating to any
Indebtedness (other than the Obligations) or contained in any instrument or agreement evidencing,
securing or relating thereto, or any other event shall occur or condition exist (other than
customary due on sale clauses), the effect of which default or other event or condition is to
cause, or to permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of
such holder or holders) to cause (determined without regard to whether any notice is required), any
such Indebtedness to become due or required to be

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repurchased prior to its stated maturity; provided that it shall not be a Default or
Event of Default under this Section 11.04 unless the aggregate principal amount of all Indebtedness
as described in preceding clauses (i) and (ii) is at least $50,000,000; or

          11.05 Bankruptcy, etc. The Borrower or any of its Material Subsidiaries shall
commence a voluntary case concerning itself under Title 11 of the United States Code entitled
“Bankruptcy”, as now or hereafter in effect, or any successor thereto (the “Bankruptcy
Code”); or an involuntary case is commenced against the Borrower or any of its Material
Subsidiaries and the petition is not controverted within 10 days, or is not dismissed within 60
days, after commencement of the case; or a custodian (as defined in the Bankruptcy Code) is
appointed for, or takes charge of, all or substantially all of the property of the Borrower or any
of its Material Subsidiaries, or the Borrower or any of its Material Subsidiaries commences any
other proceeding under any reorganization, arrangement, adjustment of debt, relief of debtors,
dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter
in effect relating to the Borrower or any of its Material Subsidiaries, or there is commenced
against the Borrower or any of its Material Subsidiaries any such proceeding which remains
undismissed for a period of 60 days, or the Borrower or any of its Material Subsidiaries is
adjudicated insolvent or bankrupt; or any order of relief or other order approving any such case or
proceeding is entered; or the Borrower or any of its Material Subsidiaries suffers any appointment
of any custodian or the like for it or any substantial part of its property to continue
undischarged or unstayed for a period of 60 days; or the Borrower or any of its Material
Subsidiaries makes a general assignment for the benefit of creditors; or any corporate action is
taken by the Borrower or any of its Material Subsidiaries for the purpose of effecting any of the
foregoing; or

          11.06 ERISA. To the extent that the Borrower, any Subsidiary or any ERISA Affiliate
sponsors, contributes to or maintains a Plan or has any actual or contingent liability under a Plan
at any time during the course of a Loan under this Agreement, (a) any Plan, other than a
multiemployer plan (as defined in Section 4001(a)(3) of ERISA), shall fail to satisfy the minimum
funding standard required for any plan year or part thereof under Section 412 of the Code or
Section 302 of ERISA or a waiver of such standard or extension of any amortization period is sought
or granted under Section 412 of the Code or Section 302 of ERISA, a determination has been made
that any Plan is, or is reasonably expected to be, considered an at-risk plan within the meaning of
Section 430 of the Code or Section 303 of ERISA, a Plan which is a multiemployer plan (as defined
in Section 4001(a)(3) of ERISA) is in endangered or critical status under Section 305 of ERISA, a
Reportable Event shall have occurred, a contributing sponsor (as defined in Section 4001(a)(13) of
ERISA) of a Plan subject to Title IV of ERISA shall be subject to the advance reporting requirement
of PBGC Regulation Section 4043.61 (without regard to subparagraph (b)(1) thereof) and an event
described in subsection .62, .63, .64, .65, .66, .67 or .68 of PBGC Regulation Section 4043 shall
be reasonably expected to occur with respect to such Plan within the following 30 days, any Plan
which is subject to Title IV of ERISA shall have had or is reasonably likely to have a trustee
appointed to administer such Plan, any Plan which is subject to Title IV of ERISA is, shall have
been or is likely to be terminated or to be the subject of termination proceedings under ERISA, any
Plan, other than a multiemployer plan (as defined in Section 4001(a)(3) of ERISA), shall have an
Unfunded Current Liability, a contribution required to be made with respect to a Plan has not been
timely made, the Borrower or any of its Subsidiaries or any ERISA Affiliate has incurred or is
reasonably likely to incur a

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liability to or on account of a Plan under Section 409, 502(i), 502(l), 515, 4062, 4063, 4064,
4069, 4201, 4204 or 4212 of ERISA or Section 436(f), 4971 or 4975 of the Code or on account of a
group health plan (as defined in Section 607(1) of ERISA or Section 4980B(g)(2) of the Code or 45
Code of Federal Regulations Section 160.103) under Section 4980B of the Code and/or the Health
Insurance Portability and Accountability Act of 1996, or the Borrower or any of its Subsidiaries
has incurred or is reasonably likely to incur liabilities pursuant to one or more employee welfare
benefit plans (as defined in Section 3(1) of ERISA) which provide benefits to retired employees or
other former employees (other than as required by Section 601 of ERISA or benefits the full cost of
which are borne by the employee or former employee); (b) there shall result from any such event or
events the imposition of a Lien, or a liability or a material risk of incurring a liability; and
(c) such Lien or liability, individually and/or in the aggregate has had or could reasonably be
expected to have a Material Adverse Effect; or

          11.07 Security Documents. At any time after the execution and delivery thereof, any
of the Security Documents shall cease to be in full force and effect, or shall cease in any
material respect to give the Collateral Agent for the benefit of the Secured Creditors the Liens,
rights, powers and privileges purported to be created thereby (including, without limitation, a
perfected security interest in, and Lien on, all of the Collateral), in favor of the Collateral
Agent, superior to and prior to the rights of all third Persons (except as permitted by Section
10.01), and subject to no other Liens (except as permitted by Section 10.01), in each case other
than release or termination in accordance with the terms of the Security Documents, or any Credit
Party shall default in the due performance or observance of any term, covenant or agreement on its
part to be performed or observed pursuant to any of the Security Documents and such default shall
continue unremedied for a period of 30 days after written notice to the Borrower by the
Administrative Agent specifying such default; or

          11.08 Guaranty. Any Guaranty or any material provision thereof shall cease to be in
full force or effect as to the relevant Guarantor or other party thereunder (other than in
accordance with the express terms thereof) or any Guarantor or other party thereunder or Person
acting by or on behalf of such Guarantor or such party shall deny or disaffirm in writing such
Guarantor’s or such party’s obligations under the relevant Guaranty, or any Guarantor or such party
shall default in the due performance or observance of any term, covenant or agreement on its part
to be performed or observed pursuant to any Guaranty; or

          11.09 Judgments. One or more judgments or decrees shall be entered against the
Borrower or any of its Subsidiaries involving a liability of $50,000,000 or more in the aggregate
for all such judgments and decrees for the Borrower and its Subsidiaries (to the extent not paid or
covered by insurance provided by a reputable and solvent insurance company) and any such judgments
or decrees shall not have been satisfied, vacated, discharged or stayed or bonded pending appeal
within 60 days after the entry thereof; or

          11.10 Gaming Authority. Any License Revocation occurs that continues for more than 30
consecutive days with respect to any Material Gaming Facility; or

          11.11 Change of Control. A Change of Control shall occur;

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then, and in any such event, and at any time thereafter, if any Event of Default shall then be
continuing, the Administrative Agent, upon the written request of the Required Lenders, shall by
written notice to the Borrower, take any or all of the following actions (provided that, if
an Event of Default specified in Section 11.05 shall occur with respect to the Borrower, the result
which would occur upon the giving of written notice by the Administrative Agent to the Borrower as
specified in clauses (i) and (ii) below shall occur automatically without the giving of any such
notice): (i) declare the Total Commitment terminated, whereupon all Commitments of each Lender
shall forthwith terminate immediately and any Commitment Commission shall forthwith become due and
payable without any other notice of any kind; (ii) declare the principal of and any accrued
interest in respect of all Loans and the Notes and all Obligations owing hereunder and thereunder
to be, whereupon the same shall become, forthwith due and payable without presentment, demand,
protest or other notice of any kind, all of which are hereby waived by each Credit Party; (iii)
terminate any Letter of Credit which may be terminated in accordance with its terms; (iv) direct
the Borrower to pay (and the Borrower agrees that upon receipt of such notice, or upon the
occurrence of an Event of Default specified in Section 11.05 with respect to the Borrower, it will
pay) to the Collateral Agent at the Payment Office such additional amount of cash, to be held as
security by the Collateral Agent, as is equal to the aggregate Stated Amount of all Letters of
Credit issued for the account of the Borrower and then outstanding; (v) enforce, as Collateral
Agent, all of the Liens and security interests created pursuant to the Security Documents (subject
to compliance with Gaming Regulations); and (vi) apply any cash collateral held pursuant to Section
5.02 in satisfaction of the Obligations.

          SECTION 12. The Administrative Agent.

          12.01 Appointment. (a) The Lenders hereby irrevocably designate and appoint Deutsche
Bank Trust Company Americas as Administrative Agent (for purposes of this Section 12 and 13.01, the
term “Administrative Agent” shall also include Deutsche Bank Trust Company Americas in its capacity
as Collateral Agent pursuant to the Security Documents) to act as specified herein and in the other
Credit Documents. Each Lender hereby irrevocably authorizes, and each holder of any Note by the
acceptance of such Note shall be deemed irrevocably to authorize, the Administrative Agent to take
such action on its behalf under the provisions of this Agreement, the other Credit Documents and
any other instruments and agreements referred to herein or therein and to exercise such powers and
to perform such duties hereunder and thereunder as are specifically delegated to or required of the
Administrative Agent by the terms hereof and thereof and such other powers as are reasonably
incidental thereto. The Administrative Agent may perform any of its duties hereunder by or through
its respective officers, directors, agents, employees or Affiliates.

          (b) Except for Sections 12.09(a), (b) and (c) and Section 12.10(b), the provisions of this
Section 12 are solely for the benefit of the Administrative Agent and the Lenders, and neither the
Borrower nor any of its Subsidiaries shall have any rights as a third party beneficiary of any of
the provisions hereof. In performing its functions and duties under this Agreement, the
Administrative Agent shall act solely as agent for the Lenders, and the Administrative Agent does
not assume (and shall not be deemed to have assumed) any obligation or relationship of agency or
trust with or for the Borrower or any of its Subsidiaries.

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          12.02 Nature of Duties. (a) The Administrative Agent shall not have any duties
or responsibilities except those expressly set forth in this Agreement and the Security Documents.
Neither the Administrative Agent nor any of its respective officers, directors, agents, employees
or Affiliates shall be liable for any action taken or omitted by it or them hereunder or under any
other Credit Document or in connection herewith or therewith, unless caused by its or their gross
negligence or willful misconduct (as determined by a court of competent jurisdiction in a final and
non-appealable decision). The duties of the Administrative Agent shall be mechanical and
administrative in nature; the Administrative Agent shall not have by reason of this Agreement or
any other Credit Document a fiduciary relationship in respect of any Lender or the holder of any
Note; and nothing in this Agreement or any other Credit Document, expressed or implied, is intended
to or shall be so construed as to impose upon the Administrative Agent any obligations in respect
of this Agreement or any other Credit Document except as expressly set forth herein or therein.

          (b) Notwithstanding any other provision of this Agreement or any provision of any other Credit
Document, each of the Syndication Agents and the Joint Lead Arrangers is named as such for
recognition purposes only, and in its capacity as such shall have no powers, duties,
responsibilities or liabilities with respect to this Agreement or the other Credit Documents or the
transactions contemplated hereby and thereby; it being understood and agreed that the Syndication
Agents and each such Joint Lead Arranger shall be entitled to all indemnification and reimbursement
rights in favor of the Administrative Agent as, and to the extent, provided for under Sections
12.06 and 13.01. Without limitation of the foregoing, each of the Syndication Agents and the Joint
Lead Arrangers shall not, solely by reason of this Agreement or any other Credit Documents, have
any fiduciary relationship in respect of any Lender or any other Person.

          12.03 Lack of Reliance on the Administrative Agent. Independently and without
reliance upon the Administrative Agent, each Lender and the holder of each Note, to the extent it
deems appropriate, has made and shall continue to make (i) its own independent investigation of the
financial condition and affairs of the Borrower and its Subsidiaries in connection with the making
and the continuance of the Loans and the taking or not taking of any action in connection herewith
and (ii) its own appraisal of the creditworthiness of the Borrower and its Subsidiaries and, except
as expressly provided in this Agreement, the Administrative Agent shall not have any duty or
responsibility, either initially or on a continuing basis, to provide any Lender or the holder of
any Note with any credit or other information with respect thereto, whether coming into its
possession before the making of the Loans or at any time or times thereafter. The Administrative
Agent shall not be responsible to any Lender or the holder of any Note for any recitals,
statements, information, representations or warranties herein or in any document, certificate or
other writing delivered in connection herewith or for the execution, effectiveness, genuineness,
validity, enforceability, perfection, collectability, priority or sufficiency of this Agreement or
any other Credit Document or the financial condition of the Borrower and its Subsidiaries or be
required to make any inquiry concerning either the performance or observance of any of the terms,
provisions or conditions of this Agreement or any other Credit Document, or the financial condition
of the Borrower and its Subsidiaries or the existence or possible existence of any Default or Event
of Default.

          12.04 Certain Rights of the Administrative Agent. If the Administrative Agent shall
request instructions from the Required Lenders with respect to any act or action

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(including failure
to act) in connection with this Agreement or any other Credit Document, the Administrative Agent
shall be entitled to refrain from such act or taking such action unless and until the
Administrative Agent shall have received instructions from the Required Lenders; and the
Administrative Agent shall not incur liability to any Person by reason of so refraining provided,
however, that this shall not affect the obligations of the Administrative Agent or any Lender to
the Borrower. Without limiting the foregoing, neither any Lender nor the holder of any Note shall
have any right of action whatsoever against the Administrative Agent as a result of the
Administrative Agent acting or refraining from acting hereunder or under any other Credit Document
in accordance with the instructions of the Required Lenders.

          12.05 Reliance. The Administrative Agent shall be entitled to rely, and shall be
fully protected in relying, upon any note, writing, resolution, notice, statement, certificate,
telex, teletype or telecopier message, cablegram, radiogram, order or other document or telephone
message signed, sent or made by any Person that the Administrative Agent believed to be the proper
Person, and, with respect to all legal matters pertaining to this Agreement and any other Credit
Document and its duties hereunder and thereunder, upon advice of counsel selected by the
Administrative Agent.

          12.06 Indemnification. To the extent the Administrative Agent (or any Affiliate
thereof) is not reimbursed and indemnified by the Borrower, the Lenders will reimburse and
indemnify the Administrative Agent (and any Affiliate thereof), in proportion to their respective
“percentages” as used in determining the Required Lenders (determined as if there were no
Defaulting Lenders), for and against any and all liabilities, obligations, losses, damages,
penalties, claims, actions, judgments, costs, expenses or disbursements of whatsoever kind or
nature which may be imposed on, asserted against or incurred by the Administrative Agent (or any
Affiliate thereof) in performing its respective duties hereunder or under any other Credit Document
or in any way relating to or arising out of this Agreement or any other Credit Document;
provided that no Lender shall be liable for any portion of such liabilities, obligations,
losses, damages, penalties, claims, actions, judgments, suits, costs, expenses or disbursements
resulting from the Administrative Agent’s (or such Affiliate’s) gross negligence or willful
misconduct (as determined by a court of competent jurisdiction in a final and non-appealable
decision).

          12.07 The Administrative Agent in Its Individual Capacity. With respect to its
obligation to make Loans, or issue or participate in Letters of Credit, under this Agreement, the
Administrative Agent shall have the rights and powers specified herein for a “Lender” and may
exercise the same rights and powers as though it were not performing the duties specified herein;
and the term “Lenders”, “Required Lenders”, “Majority Lenders”, “holders of Notes” or any similar
terms shall, unless the context clearly
otherwise indicates, include the Administrative Agent in its individual capacity. The
Administrative Agent and its Affiliates may accept deposits from, lend money to, and generally
engage in any kind of banking, investment banking trust or other business with, or provide debt
financing, equity capital or other services (including financial advisory services) to any Credit
Party or any Affiliate of any Credit Party (or any Person engaged in a similar business with any
Credit Party or any Affiliate thereof) as if it were not performing the duties specified herein,
and may accept fees and other consideration from the Borrower or any other Credit Party or any
Affiliate thereof for services in connection with this Agreement and otherwise without having to
account for the same to the Lenders.

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          12.08 Holders. The Administrative Agent may deem and treat the payee of any Note as
the owner thereof for all purposes hereof unless and until a written notice of the assignment,
transfer or endorsement thereof, as the case may be, shall have been filed with the Administrative
Agent. Any request, authority or consent of any Person who, at the time of making such request or
giving such authority or consent, is the holder of any Note shall be conclusive and binding on any
subsequent holder, transferee, assignee or endorsee, as the case may be, of such Note or of any
Note or Notes issued in exchange therefor.

          12.09 Resignation by the Administrative Agent (a) The Administrative Agent may
resign from the performance of all its respective functions and duties hereunder and/or under the
other Credit Documents at any time by giving 15 Business Days’ prior written notice to the Lenders
and, unless a Default or an Event of Default under Section 11.05 then exists, the Borrower. Any
such resignation by an Administrative Agent hereunder shall also constitute its resignation as an
Issuing Lender and the Swingline Lender, in which case the resigning Administrative Agent (x) shall
not be required to issue any further Letters of Credit or make any additional Swingline Loans
hereunder and (y) shall maintain all of its rights as Issuing Lender or Swingline Lender, as the
case may be, with respect to any Letters of Credit issued by it, or Swingline Loans made by it,
prior to the date of such resignation. Such resignation shall take effect upon the appointment of
a successor Administrative Agent pursuant to clauses (b) and (c) below or as otherwise provided
below.

          (b) Upon any such notice of resignation by the Administrative Agent, the Required Lenders
shall appoint a successor Administrative Agent hereunder or thereunder who shall be a commercial
bank or trust company reasonably acceptable to the Borrower, which acceptance shall not be
unreasonably withheld or delayed (provided that the Borrower’s approval shall not be required if an
Event of Default under Section 11.05 then exists).

          (c) If a successor Administrative Agent shall not have been so appointed within such 15
Business Day period, the Administrative Agent, with the consent of the Borrower (which consent
shall not be unreasonably withheld or delayed, provided that the Borrower’s consent shall not be
required if an Event of Default then exists), shall then appoint a successor Administrative Agent
who shall serve as Administrative Agent hereunder or thereunder until such time, if any, as the
Required Lenders appoint a successor Administrative Agent as provided above.

          (d) If no successor Administrative Agent has been appointed pursuant to clause (b) or (c)
above by the 20th Business Day after the date such notice of resignation was given by the
Administrative Agent, the Administrative Agent’s resignation shall become effective and the
Required Lenders shall thereafter perform all the duties of the Administrative Agent hereunder
and/or under any other Credit Document until such time, if any, as the Required Lenders appoint a
successor Administrative Agent as provided above.

          (e) Upon a resignation of the Administrative Agent pursuant to this Section 12.09, the
Administrative Agent shall remain indemnified to the extent provided in this Agreement and the
other Credit Documents and the provisions of this Section 12 (and the analogous provisions of the
other Credit Documents) shall continue in effect for the benefit of

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the Administrative Agent for
all of its actions and inactions while serving as the Administrative Agent.

          12.10 Amendments to Security Documents. (a) Each Lender authorizes and directs the
Collateral Agent to enter into the Security Documents for the benefit of the Lenders and the other
Secured Creditors. Each Lender hereby agrees, and each holder of any Note by the acceptance
thereof will be deemed to agree, that, except as otherwise set forth herein, any action taken by
the Required Lenders in accordance with the provisions of this Agreement or the Security Documents,
and the exercise by the Required Lenders of the powers set forth herein or therein, together with
such other powers as are reasonably incidental thereto, shall be authorized and binding upon all of
the Lenders. The Collateral Agent is hereby authorized on behalf of all of the Lenders, without
the necessity of any notice to or further consent from any Lender, from time to time prior to an
Event of Default, to take any action with respect to any Collateral or Security Documents which may
be necessary to perfect and maintain perfected the security interest in and liens upon the
Collateral granted pursuant to the Security Documents. In addition to the foregoing, each Lender
acknowledges and agrees to the provisions of Section 31 of the Pledge Agreement and Section 10.9 of
the Security Agreement.

          (b) The Lenders hereby authorize the Collateral Agent, at its option and in its discretion, to
release any Lien granted to or held by the Collateral Agent upon any Collateral (i) upon
termination of the Commitments and payment and satisfaction of all of the Obligations at any time
arising under or in respect of this Agreement or the Credit Documents or the transactions
contemplated hereby or thereby, (ii) constituting property being sold or otherwise disposed of (to
Persons other than the Borrower and its Subsidiaries) upon the sale or other disposition thereof
not prohibited by Section 10.02, (iii) if approved, authorized or ratified in writing by the
Required Lenders (or all of the Lenders hereunder, to the extent required by Section 13.12) or (iv)
as otherwise may be expressly provided in the relevant Security Documents. Upon request by the
Administrative Agent at any time, the Lenders will confirm in writing the Collateral Agent’s
authority to release particular types or items of Collateral pursuant to this Section 12.10.

          (c) The Collateral Agent shall have no obligation whatsoever to the Lenders or to any other
Person to assure that the Collateral exists or is owned by any Credit Party or is cared for,
protected or insured or that the Liens granted to the Collateral Agent herein or
pursuant hereto have been properly or sufficiently or lawfully created, perfected, protected
or enforced or are entitled to any particular priority, or to exercise or to continue exercising at
all or in any manner or under any duty of care, disclosure or fidelity any of the rights,
authorities and powers granted or available to the Collateral Agent in this Section 12.10 or in any
of the Security Documents, it being understood and agreed that in respect of the Collateral, or any
act, omission or event related thereto, the Collateral Agent may act in any manner it may deem
appropriate, in its sole discretion, given the Collateral Agent’s own interest in the Collateral as
one of the Lenders and that the Collateral Agent shall have no duty or liability whatsoever to the
Lenders, except for its gross negligence or willful misconduct (as determined by a court of
competent jurisdiction in a final and non-appealable decision).

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          12.11 Other Agents. No Person listed on the signature pages hereto as a Co-Arranger,
Syndication Agents, Documentation Agent, Lead Arranger or Sole Book Manager shall have any
obligations hereunder in its capacity as such.

          12.12 Delivery of Information. The Administrative Agent shall not be required to
deliver to any Lender originals or copies of any documents, instruments, notices, communications or
other information received by the Administrative Agent from any Credit Party, any Subsidiary, the
Required Lenders, any Lender or any other Person under or in connection with this Agreement or any
other Credit Document except (i) as specifically provided in this Agreement or any other Credit
Document and (ii) as specifically requested from time to time in writing by any Lender with respect
to a specific document, instrument, notice or other written communication received by and in the
possession of the Administrative Agent at the time of receipt of such request and then only in
accordance with such specific request.

          SECTION 13. Miscellaneous.

          13.01 Payment of Expenses, etc. (a) The Borrower shall: (i) whether or not the
transactions herein contemplated are consummated, pay all reasonable documented out-of-pocket costs
and expenses of the Administrative Agent and the Joint Lead Arrangers (including, without
limitation, the reasonable fees and disbursements of White & Case LLP and one local counsel in each
relevant jurisdiction as may be necessary or advisable in the judgment of the Joint Lead Arrangers)
in connection with the preparation, execution, delivery and administration of this Agreement and
the other Credit Documents and the documents and instruments referred to herein and therein and any
amendment, waiver or consent relating hereto or thereto, of the Administrative Agent and the Joint
Lead Arrangers in connection with its syndication efforts with respect to this Agreement and,
following an Event of Default, each of the Lenders in connection with the enforcement of this
Agreement and the other Credit Documents and the documents and instruments referred to herein and
therein (including, without limitation, the reasonable fees and disbursements of counsel for the
Administrative Agent and, following an Event of Default, one counsel for each
group of Indemnified Persons that are substantially similarly situated and one local counsel
in each relevant jurisdiction as may be necessary or advisable in the judgment of the Joint Lead
Arrangers); (ii) pay and hold the Administrative Agent and each of the Lenders harmless from and
against any and all present and future stamp, excise and other similar taxes with respect to the
foregoing matters (including, without limitation, Mississippi personal property tax) and save the
Administrative Agent and each of the Lenders harmless from and against any and all liabilities with
respect to or resulting from any delay or omission (other than to the extent attributable to such
Lender) to pay such taxes; and (iii) defend, protect, indemnify and hold harmless the
Administrative Agent, the Joint Lead Arrangers and each Lender, and each of their respective
officers, directors, employees, representatives, agents, Affiliates, trustees and investment
advisors (each, an “Indemnified Person”) from and hold each of them harmless against any
and all liabilities, obligations (including removal or remedial actions), losses, damages,
penalties, claims, actions, judgments, suits, costs, expenses and disbursements (including
reasonable attorneys’ and consultants’ fees and disbursements) incurred by, imposed on or assessed
against any of them as a result of, or arising out of, or in any way related to, or by reason of,
(a) any investigation, litigation or other proceeding (whether or not the Administrative Agent or
any Lender is a party thereto and whether or not such investigation, litigation or other proceeding
is brought by or on behalf of any

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Credit Party) related to the entering into and/or performance of
this Agreement or any other Credit Document or the use of any Letter of Credit or the proceeds of
any Loans hereunder or the consummation of any transactions contemplated herein (including, without
limitation, the Transaction) or in any other Credit Document or the exercise of any of their rights
or remedies provided herein or in the other Credit Documents, (b) any non-compliance with any
Environmental Law relating to any Real Property at any time owned or operated by the Borrower or
any of its Subsidiaries, (c) the actual or alleged generation, presence or Release of Hazardous
Materials on or from, or the transportation of Hazardous Materials to or from, any Real Property
owned or at any time operated by the Borrower or any of its Subsidiaries or (d) any Environmental
Claim relating to the Borrower or any of its Subsidiaries or any Real Property owned or at any time
operated by the Borrower or any of its Subsidiaries, including, in each case, without limitation,
the reasonable fees and disbursements of counsel and other consultants incurred in connection with
any such investigation, litigation or other proceeding, provided, the Borrower shall not have any
obligation to defend, protect, indemnify and hold harmless any Person hereunder with respect to any
liabilities, obligations, losses, damages, penalties, claims, actions, judgments, suits, costs,
expenses or disbursements (i) to the extent the same resulted from the gross negligence, bad faith
or willful misconduct of such Indemnified Person or any Affiliates, officers, directors, employees,
agents or members of the foregoing (as determined by a court of competent jurisdiction in a final
and non-appealable judgment), (ii) arising from a material breach of the obligations of such
Indemnified Person under this Agreement (as determined by a court of competent jurisdiction in a
final and non-appealable judgment) or (iii) arising out of, or in connection with any action, suit,
proceeding or claim that does not involve an act or omission by any direct or indirect parent or
controlling person of the Borrower or the Borrower and that is brought by an Indemnified Person
against any other Indemnified Person (other than any action, suit, proceeding or claim involving
the Administrative Agent or Joint Lead Arranger in its capacity as such).

          (b) The Borrower further agrees to pay the reasonable legal fees of gaming counsel for the
Administrative Agent in Missouri, Nevada, Mississippi, Colorado, Iowa and
Indiana and any other relevant state or other jurisdiction and all reasonable costs (including
reasonable documented out-of-pocket costs of investigation) associated with any qualification (or
exemption or waiver therefrom) of any Lender under, or compliance of any Lender with, the Gaming
Regulations in connection with the syndication under, this Agreement.

          (c) To the full extent permitted by applicable law, the Borrower shall not assert, and hereby
waives, any claim against any Indemnified Person, on any theory of liability, for special,
indirect, consequential or incidental damages (as opposed to direct or actual damages) arising out
of, in connection with, or as a result of, this Agreement or any agreement or instrument
contemplated hereby, the transactions contemplated hereby or thereby, any Loan or the use of the
proceeds thereof. No Indemnified Person shall be liable for any damages arising from the use by
unintended recipients of any information or other materials distributed by it through
telecommunications, electronic or other information transmission systems in connection with this
Agreement or the other Credit Documents or the transactions contemplated hereby or thereby, except
to the extent the liability of such Indemnified Person results from such Indemnified Person’s gross
negligence or willful misconduct (as determined by a court of competent jurisdiction in a final and
non appealable decision).

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          13.02 Right of Setoff; Collateral Matters. In addition to any rights now or hereafter
granted under applicable law or otherwise, and not by way of limitation of any such rights, upon
any amount becoming due and payable by the Borrower hereunder (whether at stated maturity, by
acceleration or otherwise), the Administrative Agent and each Lender is hereby authorized at any
time or from time to time, without presentment, demand, protest or other notice of any kind to any
Credit Party or to any other Person, any such notice being hereby expressly waived, to set off and
to appropriate and apply any and all deposits (general or special) and any other Indebtedness at
any time held or owing by the Administrative Agent or such Lender (including, without limitation,
by branches and agencies of the Administrative Agent or such Lender wherever located) to or for the
credit or the account of the Borrower or any of its Subsidiaries against and on account of the
Obligations and liabilities of the Credit Parties to the Administrative Agent or such Lender under
this Agreement or under any of the other Credit Documents, including, without limitation, all
interests in Obligations purchased by such Lender pursuant to Section 13.04(b), and all other
claims of any nature or description arising out of or connected with this Agreement or any other
Credit Document, irrespective of whether or not the Administrative Agent or such Lender shall have
made any demand hereunder and although said Obligations, liabilities or claims, or any of them,
shall be contingent or unmatured.

          13.03 Notices. (a) Except as otherwise expressly provided herein, all notices and
other communications provided for hereunder shall be in writing (including telegraphic, telex,
telecopier or cable communication) and mailed, telegraphed, telexed, telecopied, cabled or
delivered: if to the Borrower or any Credit Party, at the Borrower’s address specified opposite
its signature below; if to any Lender, at its address specified on Schedule 13.03; and if to the
Administrative Agent, at its Notice Office; or, as to any Credit Party or the Administrative Agent,
at such other address as shall be designated by such party in a written notice to the other
parties hereto and, as to each Lender, at such other address as shall be designated by such
Lender in a written notice to the Borrower and the Administrative Agent. All such notices and
communications shall, when mailed, be effective (5) Business Days after deposit in the mails, and
when telegraphed, telexed, telecopied, or cabled or sent by overnight courier, be effective one
Business Day after dispatch, except that notices and communications to the Administrative Agent or
the Borrower shall not be effective until received by the Administrative Agent or the Borrower, as
the case may be.

          (b) Notices and other communications to the Lenders hereunder may be delivered or furnished by
electronic communications pursuant to procedures approved by the Administrative Agent;
provided that the foregoing shall not apply to notices pursuant to Section 2 unless
otherwise agreed by the Administrative Agent and the applicable Lender. Each of the Administrative
Agent and the Borrower may, in its discretion, agree to accept notices and other communications to
it hereunder by electronic communications pursuant to procedures approved by it; provided
that approval of such procedures may be limited to particular notices or communications.

          13.04 Benefit of Agreement. (a) This Agreement shall be binding upon and inure to
the benefit of and be enforceable by the respective successors and assigns of the parties hereto;
provided, however, no Credit Party may assign or transfer any of its rights,
obligations or interest hereunder or under any other Credit Document without the prior written
consent of the Lenders (it being understood that this Section 13.04 shall not prevent a merger or

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consolidation otherwise permitted by this Agreement) and, provided, further, that,
although any Lender may transfer, assign or grant participations to Eligible Transferees in its
rights hereunder, such Lender shall remain a “Lender” for all purposes hereunder (and may not
transfer or assign all or any portion of its Commitments hereunder except as provided in Section
13.04(b)) and the transferee, assignee or participant, as the case may be, shall not constitute a
“Lender” hereunder and, provided, further, that no Lender shall transfer or grant
any participation under which the participant shall have rights to approve any amendment to or
waiver of this Agreement or any other Credit Document except to the extent such amendment or waiver
would (i) extend the final scheduled maturity of any Loan, Note or Letter of Credit (unless such
Letter of Credit is not extended beyond the Revolving Loan Maturity Date) in which such participant
is participating, or reduce the rate or extend the time of payment of interest or Fees thereon
(except (x) in connection with a waiver of applicability of any post-default increase in interest
rates and (y) any amendment or modification that is not agreed to by each Lender directly affected
thereby to the financial definitions in this Agreement or to Section 13.07(a) shall not constitute
a reduction in the rate of interest or Fees for purposes of this clause (i), notwithstanding the
fact that such amendment or modification would otherwise actually result in such a reduction, so
long as the primary purpose (as determined in good faith by the Borrower and the Administrative
Agent) of the respective amendment or modification was not to decrease the pricing pursuant to this
Agreement) or reduce the principal amount thereof, or increase the amount of the participant’s
participation over the amount thereof then in effect (it being understood that a waiver of any
Default or Event of Default or of a mandatory reduction in the Total Commitment or a mandatory
prepayment of the applicable Loans shall not constitute a change in the terms of such
participation, and that an increase in any Commitment (or the available portion thereof) or Loan
shall be permitted without
the consent of any participant if the participant’s participation is not increased as a result
thereof), (ii) consent to the assignment or transfer by the Borrower of any of its rights and
obligations under this Agreement or (iii) release all or substantially all of the Collateral under
all of the Security Documents (except as expressly provided in the Credit Documents) supporting the
Obligations in which such participant is participating. In the case of any such participation, the
participant shall not have any rights under this Agreement or any of the other Credit Documents
(the participant’s rights against such Lender in respect of such participation to be those set
forth in the agreement executed by such Lender in favor of the participant relating thereto) and
all amounts payable by the Borrower hereunder shall be determined as if such Lender had not sold
such participation.

          (b) Notwithstanding the foregoing, any Lender (or any Lender together with one or more other
Lenders) may (x) assign all or a portion of its Revolving Loan Commitment (and related outstanding
Obligations hereunder) and/or its outstanding Term Loans (or, if prior to the Initial Borrowing
Date, Term Loan Commitment) to (i)(A) its parent company and/or any Affiliate of such Lender which
is at least 50% owned by such Lender or its parent company or to one or more Lenders or (B) to one
or more other Lenders or any Affiliate of any such other Lender which is at least 50% owned by such
other Lender or its parent company (provided that any fund that invests in bank loans and
is managed or advised by the same investment advisor of another fund which is a Lender (or by an
Affiliate of such investment advisor) shall be treated as an Affiliate of such other Lender for the
purposes of this sub-clause (x)(i)(B)), or (ii) in the case of any Lender that is a fund that
invests in bank loans, any other fund that invests in bank loans and is managed by the same
investment advisor of any Lender or by an Affiliate of such investment advisor and (y) assign all,
or if less than all, a portion equal to at least in the case of

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assignments of, (A) for A Term
Loans, $1,000,000, (B) for B Term Loans, $1,000,000 or (C) for Revolving Loans, $5,000,000
hereunder to one or more Qualified Persons (treating any fund that invests in bank loans and any
other fund that invests in bank loans and is managed by the same investment advisor of such fund or
by an Affiliate of such investment advisor as a single Qualified Person), each of which assignees
shall become a party to this Agreement as a Lender by execution of an Assignment and Assumption
Agreement; provided that, (i) at such time Schedule 2.01 shall be deemed modified to
reflect the Commitments (and/or outstanding Term Loans) of such new Lender and of the existing
Lenders, (ii) upon surrender of the old Notes, new Notes will be issued, at the Borrower’s expense,
to such new Lender and to the assigning Lender, such new Notes to be in conformity with the
requirements of Section 2.05 (with appropriate modifications) to the extent needed to reflect the
revised Commitments (and/or outstanding Term Loans) and requested by such new Lender and/or
assigning Lender, (iii) the consent of the Administrative Agent and, with respect to assignments of
Revolving Loans and/or Revolving Loan Commitments, each Issuing Lender shall be required in
connection with any such assignment pursuant to clause (y) of this Section 13.04(b) (which consent
in the case of the Administrative Agent shall not be unreasonably withheld, conditioned or
delayed), (iv) unless an Event of Default shall have occurred and is continuing, the consent of the
Borrower shall be required in connection with any such assignment pursuant to clause (y) of this
Section 13.04(b) (such consent not to be unreasonably withheld, conditioned or delayed), it being
understood and agreed that for the first 15 days following the Initial Borrowing Date, the written
consent of the Borrower shall not be required in connection with any such assignments to the extent
occurring in connection with the primary syndication of this facility; provided that the
Borrower has approved all such Lenders prior to the Initial Borrowing Date and (v) the
Administrative Agent
shall receive at the time of each such assignment, from the assigning or assignee Lender, the
payment of a non-refundable assignment fee of $3,500 and, provided, further, that
such transfer or assignment will not be effective until recorded by the Administrative Agent on the
Register pursuant to Section 13.16 hereof. Notwithstanding the foregoing, any Lender will be
permitted to assign Loans to the Borrower pursuant to an Auction under Section 2.17. To the extent
of any assignment pursuant to this Section 13.04(b), the assigning Lender shall be relieved of its
obligations hereunder with respect to its assigned Commitments. At the time of each assignment
pursuant to this Section 13.04(b) to a person which is not already a Lender for Federal income tax
purposes, the respective assignee Lender shall provide to the Borrower and the Administrative Agent
the appropriate Internal Revenue Service Forms (and, if applicable a Section 5.04(b)(ii)
Certificate) described in Section 5.04(b), to the extent such forms would provide a complete
exemption from or reduction in U.S. withholding tax (including backup withholding, as applicable.
To the extent that an assignment of all or any portion of a Lender’s Commitments and related
outstanding Obligations pursuant to Section 2.13, Section 2.15 or this Section 13.04(b) would, at
the time of such assignment, result in increased costs under Section 2.10, 2.11, 3.05, 3.06 or 5.04
from those being charged by the respective assigning Lender prior to such assignment, then the
Borrower shall not be obligated to pay such increased costs (alt
hough the Borrower shall be
obligated to pay any other increased costs of the type described above resulting from changes after
the date of the respective assignment).

          (c) If any Gaming Authority shall determine that any Lender is not qualified as an approved
financial source or otherwise does not meet the standards pursuant to the Gaming Regulations in the
relevant jurisdiction, or any Gaming Authority with jurisdiction over the Gaming Business shall
determine that any Lender does not meet its suitability standards (in any

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such case, a “Former
Lender”), the Administrative Agent and each Issuing Lender or the Borrower shall have the right
(but not the duty) to designate a lender or lenders (in each case, a “Substitute Lender”,
which may be any Lender or Lenders that agree to become a Substitute Lender and, if not an existing
Lender, with the consent of the Administrative Agent and the Borrower to the extent provided in
Section 13.04(b)) that has agreed to assume the rights and obligations of the Former Lender,
subject to receipt by the Administrative Agent of evidence satisfactory to the Administrative Agent
that such Substitute Lender is a Qualified Person, or has a reasonable basis for a belief that the
Substitute Lender is eligible to be a Qualified Person, and in compliance with Gaming Regulations.
The Substitute Lender shall assume the rights and obligations of the Former Lender under this
Agreement pursuant to an Assignment and Assumption Agreement, which assumption shall be required to
comply with, and shall become effective in accordance with, the provisions of Section 13.04(b);
provided that the purchase price to be paid by the Substitute Lender to the Administrative
Agent for the account of the Former Lender for such assumption shall equal the sum of (i) the
unpaid principal amount of any Notes held or Loans made by the Former Lender plus accrued interest
thereon plus (ii) the Former Lender’s pro rata share of the aggregate amount of
Drawings under all Letters of Credit that have not been reimbursed by the Borrower, plus accrued
interest thereon, plus (iii) such Former Lender’s pro rata share of accrued Fees to
the date of the assumption, and, provided, further, the Borrower shall pay all
obligations owing to the Former Lender under the Credit Documents (including all obligations, if
any, owing pursuant to Section 2.11, but excluding those amounts in respect of which the purchase
price is being paid as provided above). Each Lender agrees that if it becomes a Former Lender,
upon payment to it by the Borrower of all such amounts, if any,
owing to it under the Credit Documents, it will execute and deliver an Assignment and
Assumption Agreement upon payment of such purchase price.

          (d) Notwithstanding the provisions of subsection (c) of this Section 13.04, but subject to
applicable Gaming Regulations, if any Lender becomes a Former Lender, and if the Administrative
Agent or the Borrower fails to find a Substitute Lender pursuant to subsection (c) of this Section
within any time period specified by the appropriate Gaming Authority for the withdrawal of a Former
Lender (the “Withdrawal Period”), the Borrower shall immediately (i) prepay in full the
outstanding principal amount of each Note held or Loan made by such Former Lender, together with
accrued interest thereon to the earlier of (x) the date of payment or (y) the last day of any
Withdrawal Period, and (ii) at the option of the Borrower either (A) place an amount equal to such
Former Lender’s Revolving Loan Percentage in each Letter of Credit in a separate cash collateral
account with the Administrative Agent for each outstanding Letter of Credit, which amount will be
applied by the Administrative Agent to satisfy the Borrower’s reimbursement obligations to the
respective Issuing Lender in respect of Drawings under the applicable Letter of Credit or (B) if no
Default or Event of Default then exists, terminate the Revolving Loan Commitment of such Former
Lender at which time the other Lenders’ Revolving Loan Percentages will be automatically adjusted
as a result thereof; provided that the option specified in this clause (B) may only be
exercised if, immediately after giving effect thereto no Lender’s outstanding Revolving Loans, when
added to the product of (a) such Lender’s RL Percentage and (b) the sum of (I) the aggregate amount
of all Letter of Credit Outstandings and (II) the aggregate principal amount of all Swingline Loans
then outstanding, would exceed such Lender’s Revolving Loan Commitment at such time.

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          (e) Subject to the last sentence of this Section 13.04(e), each Lender agrees that all
participations and assignments made hereunder shall be subject to, and made in compliance with, all
Gaming Regulations applicable to lenders. Each Lender agrees further that it will not grant
participations or assignments (other than to funds that invest in bank loans and are managed by the
same investment advisor of such assigning Lender) prior to receiving notice from the Administrative
Agent that it has completed the primary syndication of this facility. The Administrative Agent
shall provide such notice to the Lenders and the Borrower promptly after completing such primary
syndication. The Borrower hereby acknowledges that unless the Borrower has provided the Lenders
with a written opinion of counsel as to the suitability standards applicable to lenders of any
relevant Gaming Authority with jurisdiction over the Gaming Business, no Lender shall have the
responsibility of determining whether or not a potential assignee of such Lender would be a
Qualified Person under the Gaming Regulations of any such jurisdiction (provided that any relevant
Gaming Authority may nonetheless determine such assignee not to be a Qualified Person).

          (f) Nothing in this Agreement shall prevent or prohibit any Lender from pledging its Loans and
Notes hereunder to a Federal Reserve Bank in support of borrowings made by such Lender from such
Federal Reserve Bank and, with notice to the Administrative Agent, any Lender which is a fund may
pledge all or any portion of its Loans and Notes to its trustee in support of its obligations to
its trustee.

          13.05 No Waiver; Remedies Cumulative. No failure or delay on the part
of the Administrative Agent or any Lender or any holder of
any Note in exercising any right, power or privilege hereunder or under any other Credit Document
and no course of dealing between the Borrower or any other Credit Party and the Administrative
Agent or any Lender or the holder of any Note shall operate as a waiver thereof; nor shall any
single or partial exercise of any right, power or privilege hereunder or under any other Credit
Document preclude any other or further exercise thereof or the exercise of any other right, power
or privilege hereunder or thereunder. The rights, powers and remedies herein or in any other
Credit Document expressly provided are cumulative and not exclusive of any rights, powers or
remedies which the Administrative Agent or any Lender or the holder of any Note would otherwise
have. No notice to or demand on any Credit Party in any case shall entitle any Credit Party to any
other or further notice or demand in similar or other circumstances or constitute a waiver of the
rights of the Administrative Agent or any Lender or the holder of any Note to any other or further
action in any circumstances without notice or demand.

          13.06 Payments Pro Rata. (a) Except as otherwise provided in this Agreement, the
Administrative Agent agrees that promptly after its receipt of each payment from or on behalf of
the Borrower in respect of any Obligations hereunder, it shall distribute such payment to the
Lenders (other than any Lender that has consented in writing to waive
its pro rata share of any
such payment) pro rata based upon their respective shares, if any, of the Obligations with respect
to which such payment was received.

          (b) Each of the Lenders agrees that, if it should receive any amount hereunder (whether by
voluntary payment, by realization upon security, by the exercise of the right of setoff or lender’s
lien, by counterclaim or cross action, by the enforcement of any right under the Credit Documents,
or otherwise), which is applicable to the payment of the principal
of, or

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interest on, the Loans,
Unpaid Drawings, Commitment Commission or Letter of Credit Fees, of a sum which with respect to the
related sum or sums received by other Lenders is in a greater proportion than the total of such
Obligation then owed and due to such Lender bears to the total of such Obligation then owed and due
to all of the Lenders immediately prior to such receipt, then such Lender receiving such excess
payment shall purchase for cash without recourse or warranty from the other Lenders an interest in
the Obligations of the respective Credit Party to such Lenders in such amount as shall result in a
proportional participation by all the Lenders in such amount; provided that if all or any
portion of such excess amount is thereafter recovered from such Lender, such purchase shall be
rescinded and the purchase price restored to the extent of such recovery, but without interest.

          (c) Notwithstanding anything to the contrary contained herein, the provisions of the preceding
Sections 13.06(a) and (b) shall be subject to the express provisions of this Agreement which
require, or permit, differing payments to be made to Non-Defaulting Lenders as opposed to
Defaulting Lenders.

          (d) Notwithstanding anything to the contrary contained herein, the provisions of the preceding
Sections 13.06(a) and (b) shall be subject to the express provisions of this Agreement which
require or permit a Lender to obtain or receive a non pro rata amount of any
payment or Obligation.

          13.07 Calculations; Computations. (a) The financial statements to be furnished to
the Lenders pursuant hereto shall be made and prepared in accordance with GAAP consistently applied
throughout the periods involved (except as set forth in the notes thereto or as otherwise disclosed
in writing by the Borrower to the Lenders and except that quarterly financial statements may not
include notes and are subject to year-end adjustments); provided that, (i) except as
otherwise specifically provided herein, all computations of Excess Cash Flow (including the
Applicable Excess Cash Flow Percentage), the Applicable Margin and the determination of Total Net
Leverage Ratio, the Senior Secured Net Leverage Ratio and the Interest Expense Coverage Ratio, and
all computations and all definitions (including accounting terms) used in determining compliance
with Sections 9.13 and 10.07 and the Financial Covenants, inclusive, shall utilize GAAP and
policies in conformity with those used to prepare the audited historical financial statements
referred to in Section 8.05(a), (ii) notwithstanding anything to the contrary contained herein,
all such financial statements shall be prepared, and all financial covenants contained herein or in
any other Credit Document shall be calculated, in each case, without giving effect to any election
under FASB ASC 825 (or any similar accounting principle) permitting a Person to value its financial
liabilities at the fair value thereof and (iii) to the extent expressly provided herein, certain
calculations shall be made on a Pro Forma Basis. In the event of any changes (“Accounting
Changes”) in accounting principles required by the promulgation of any rule, regulation,
pronouncement or opinion of the Financial Accounting Standards Board of the American Institute of
Certified Public Accountants or, if applicable, the SEC, if such Accounting Changes result in a
change in the method of calculation of financial covenants, standards or terms of this Agreement,
then the Borrower and the Administrative Agent agree to enter into negotiations in order to amend
such provisions of this Agreement so as to equitably reflect such Accounting Changes with the
desired result that the criteria for evaluating the Borrower’s financial condition shall be the
same after such Accounting Changes as if such Accounting Changes had not been made. Until such
time as such an amendment shall

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have been executed and delivered by the Borrower, the
Administrative Agent and the Required Lenders, all financial covenants, standards and terms in this
Agreement shall continue to be calculated as if such Accounting Changes had not occurred.

          (b) All computations of interest, Commitment Commission and other Fees hereunder shall be made
on the basis of a year of 360 days (except for interest calculated by reference to the Prime
Lending Rate, which shall be based on a year of 365 or 366 days, as applicable) for the actual
number of days (including the first day but excluding the last day; except that in the case of
Letter of Credit Fees and Facing Fees, the last day shall be included) occurring in the period for
which such interest, Commitment Commission or Fees are payable.

          13.08 GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL. (a)
THIS AGREEMENT AND THE OTHER CREDIT DOCUMENTS AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER AND THEREUNDER SHALL, EXCEPT AS OTHERWISE PROVIDED IN CERTAIN OF THE SECURITY DOCUMENTS,
BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. ANY LEGAL
ACTION OR PROCEEDING
WITH RESPECT TO THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT MAY BE BROUGHT IN THE COURTS OF
THE STATE OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, AND, BY
EXECUTION AND DELIVERY OF THIS AGREEMENT, THE BORROWER HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN
RESPECT OF ITS PROPERTY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO
THIS AGREEMENT, THE OTHER CREDIT DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, THE
JURISDICTION OF THE AFORESAID COURTS. THE BORROWER FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF
PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF
COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO ANY CREDIT PARTY AT ITS ADDRESS
SET FORTH OPPOSITE ITS SIGNATURE BELOW. NOTHING HEREIN SHALL AFFECT THE RIGHT OF THE
ADMINISTRATIVE AGENT UNDER THIS AGREEMENT, ANY LENDER OR THE HOLDER OF ANY NOTE TO SERVE PROCESS IN
ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANY
CREDIT PARTY IN ANY OTHER JURISDICTION.

          (b) THE BORROWER HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO
THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN CONNECTION
WITH THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT BROUGHT IN THE COURTS REFERRED TO IN CLAUSE (a)
ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT
ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

          (c) EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY
JURY IN ANY ACTION,

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PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE
OTHER CREDIT DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

          13.09 Counterparts. This Agreement may be executed in any number of counterparts and
by the different parties hereto on separate counterparts, each of which when so executed and
delivered shall be an original, but all of which shall together constitute one and the same
instrument. A set of counterparts executed by all the parties hereto shall be lodged with the
Borrower and the Administrative Agent.

          13.10 Effectiveness. This Agreement shall become effective on the date (the
“Effective Date”) on which the Borrower, the Administrative Agent and each of the Lenders
listed on Schedule 2.01 shall have signed a counterpart hereof (whether the same or different
counterparts) and shall
have delivered the same to the Administrative Agent at its Notice Office or, in the case of
the Lenders, shall have given to the Administrative Agent telephonic (confirmed in writing),
written or telex notice (actually received) at such office that the same has been signed and mailed
to it. The Administrative Agent will give the Borrower and each Lender prompt written notice of
the occurrence of the Effective Date.

          13.11 Headings Descriptive. The headings of the several sections and subsections of
this Agreement are inserted for convenience only and shall not in any way affect the meaning or
construction of any provision of this Agreement.

          13.12 Amendment or Waiver; etc. (a) Neither this Agreement nor any other Credit
Document nor any terms hereof or thereof may be changed, waived, discharged or terminated unless
such change, waiver, discharge or termination is in writing signed by the respective Credit Parties
party hereto or thereto and the Required Lenders (although additional parties may be added to (and
annexes may be modified to reflect such additions), and Subsidiaries of the Borrower may be
released from, the Subsidiary Guaranty and the Security Documents in accordance with the provisions
hereof and thereof without the consent of the other Credit Parties party thereto or the Required
Lenders); provided that no such change, waiver, discharge or termination shall, without the
consent of (I) each Lender (other than a Defaulting Lender) in the case of following clauses
(ii)-(v), (II) each Lender whose Obligations are being affected in the case of following clause (i)
or (III) each Lender (other than a Defaulting Lender) with Obligations being directly affected in
the case of following clause (vi),

     (i) extend the final scheduled maturity of any Loan or Note or extend the Stated
Maturity of any Letter of Credit beyond the Revolving Loan Maturity Date, or reduce the rate
or extend the time of any Scheduled Repayment or any payment of interest or Fees thereon
(except (x) in connection with a waiver of applicability of any post-default increase in
interest rates and (y) any amendment or modification that is not agreed to by each Lender
directly affected thereby to the financial definitions in this Agreement or to Section
13.07(a) shall not constitute a reduction in the rate of interest or Fees for purposes of
this clause (i), notwithstanding the fact that such amendment or modification would
otherwise actually result in such a reduction, so long as the primary purpose (as determined
in good faith by the Borrower and the Administrative Agent) of

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the respective amendment or
modification was not to decrease the pricing pursuant to this Agreement), or reduce the
principal amount thereof (except to the extent repaid in cash);

     (ii) release all or substantially all of the Collateral under the Security Documents or
all or substantially all of Subsidiary Guarantors (in each case, except as expressly
provided in the Credit Documents, including any Security Document);

     (iii) amend, modify or waive any provision of this Section 13.12(a) (except for
technical amendments with respect to additional extensions of credit pursuant to this
Agreement which afford the protections to such additional extensions of credit of the type
provided to the Term Loans and the Revolving Loan Commitments on the Effective Date);

     (iv) reduce the percentage specified in the definition of Required Lenders (it being
understood that, with the consent of the Required Lenders or for Incremental Loans permitted
under Section 2.15, additional extensions of credit pursuant to this Agreement may be
included in the determination of the Required Lenders on substantially the same basis as the
extensions of Term Loans and Revolving Loan Commitments are included on the Effective Date);

     (v) consent to the assignment or transfer by the Borrower of any of its rights and
obligations under this Agreement; or

     (vi) amend, modify or waive any provision of Section 13.06, except in connection with
Section 2.17 or an amendment that provides for a prepayment of Loans by the Borrower
(offered ratably to all Lenders with Loans under the applicable Tranche) at a discount to
par on terms and conditions approved by the Administrative Agent and the Required Lenders;

provided, further, that no such change, waiver, discharge or termination shall (1)
increase the Commitments of any Lender over the amount thereof then in effect without the consent
of such Lender (it being understood that waivers or modifications of conditions precedent,
covenants, Defaults or Events of Default or of a mandatory reduction in the Total Commitment or a
mandatory repayment of Loans shall not constitute an increase of the Commitment of any Lender and
that an increase in the available portion of any Commitment of any Lender shall not constitute an
increase of the Commitment of such Lender), (2) without the consent of the Swingline Lender, amend,
modify or waive any provision relating to the rights or obligations of the Swingline Lender or with
respect to Swingline Loans (including, without limitation, the obligations of the other Lenders
with Revolving Loan Commitments to fund Mandatory Borrowings), (3) without the consent of the
Issuing Lender, amend, modify or waive any provision of Section 3 or alter its rights or
obligations with respect to Letters of Credit issued by that Issuing Lender, (4) without the
consent of the Administrative Agent, amend, modify or waive any provision of Section 12 or any
other provision as same relates to the rights or obligations of the Administrative Agent, (5)
without the consent of the Collateral Agent, amend, modify or waive any provision relating to the
rights or obligations of the Collateral Agent, (6) except in cases where additional extensions of
Term Loans and/or Revolving Loans
are being afforded substantially the same treatment afforded to
the Term Loans and Revolving Loans

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pursuant to this Agreement on the Effective Date, without the
consent of the Majority Lenders of each Tranche which is being allocated a lesser prepayment,
repayment or commitment reduction as a result of the actions described below, alter the required
application of any prepayments or repayments (or commitment reduction), as between the various
Tranches, pursuant to Section 5.02(h) (it being understood, however, that (x) the Required Lenders
may waive, in whole or in part, any such prepayment, repayment or commitment reduction, so long as
the application, as amongst the various Tranches, of any such prepayment, repayment or commitment
reduction which is still required to be made is not altered and (y) any conversion of any Tranche
of Loans into another Tranche of Loans hereunder in like principal amount shall not be considered a
“prepayment” or “repayment” for purposes of this clause (6)), or (7) without the consent of the
Majority Lenders of the respective Tranche affected thereby, amend the definition of Majority
Lenders (it being understood that, with the consent of the Required Lenders, additional extensions
of credit pursuant to this Agreement may be included in the determination of the Majority Lenders
on substantially the same basis as the extensions of Loans and Commitments are included on the
Effective Date).

          (b) If, in connection with any proposed change, waiver, discharge or termination to or of any
of the provisions of this Agreement as contemplated by clauses (i) through (vi), inclusive, of the
first proviso to Section 13.12(a), the consent of the Required Lenders is obtained but the consent
of one or more of such other Lenders whose consent is required is not obtained, then the Borrower
shall have the right, so long as all non-consenting Lenders whose individual consent is required
are treated as described in either clause (A) or (B) below, to either (A) replace each such
non-consenting Lender or Lenders (or, at the option of the Borrower, if the respective Lender’s
consent is required with respect to less than all Tranches of Loans (or related Commitments), to
replace only the respective Tranche or Tranches of Commitments and/or Loans of the respective
non-consenting Lender which gave rise to the need to obtain such Lender’s individual consent) with
one or more Replacement Lenders pursuant to Section 2.13 so long as at the time of such
replacement, each such Replacement Lender consents to the proposed change, waiver, discharge or
termination or (B) terminate such non-consenting Lender’s Revolving Loan Commitment (if such
Lender’s consent is required as a result of its Revolving Loan Commitment) and/or repay each
Tranche of outstanding Loans of such Lender which gave rise to the need to obtain such Lender’s
consent and/or cash collateralize its applicable RL Percentage of the Letter of Credit of
Outstandings, in accordance with Sections 4.02(b) and/or 5.01(b); provided that, unless the
Commitments which are terminated, and Loans which are repaid, pursuant to preceding clause (B) are
immediately replaced in full at such time through the addition of new Lenders or the increase of
the Commitments and/or outstanding Loans of existing Lenders (who in each case must specifically
consent thereto), then in the case of any action pursuant to preceding clause (B) the Required
Lenders (determined both (x) before giving effect to the proposed action and (y) as if the Loans
and Commitments being terminated (and not replaced) were not outstanding) shall specifically
consent thereto; provided, further, that in any event the Borrower shall not have
the right to replace a Lender, terminate its Commitment or repay its Loans solely as a result of
the exercise of such Lender’s rights (and the withholding of any required consent by such Lender)
pursuant to the second proviso to Section 13.12(a).

          (c) Notwithstanding the foregoing, (x) any provision of this Agreement may be amended by an
agreement in writing entered into by the Borrower, the Required Lenders and the Administrative
Agent (and, if their rights or obligations are affected thereby, each Issuing

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Lender and the
Swingline Lender) if (i) by the terms of such agreement the Commitment of each Lender not
consenting to the amendment provided for therein shall terminate upon the effectiveness of such
amendment and (ii) at the time such amendment becomes effective, each Lender not consenting thereto
receives payment (including pursuant to an assignment to a Replacement Lender in accordance with
Section 13.04) in full of the principal of and interest accrued on each Loan made by it and all
other amounts owing to it or accrued for its account under this Agreement and (y) this Agreement
may be amended (or amended and restated) with the written consent of the Required Lenders (other
than for Incremental Loans permitted under Section 2.15), the Administrative Agent and the Borrower
(a) to add one or more additional credit facilities to this Agreement and to permit the extensions
of credit from time to time
outstanding thereunder and the accrued interest and fees in respect thereof to share ratably
in the benefits of this Agreement and the other Credit Documents with the Term Loans and the
Revolving Loans and the accrued interest and fees in respect thereof and (b) to include
appropriately the Lenders holding such credit facilities in any determination of the Required
Lenders.

          13.13 Survival. All indemnities set forth herein including, without limitation, in
Sections 2.10, 2.11, 3.06, 5.04, 12.06, 13.01, 13.06 and 13.16 shall survive the execution,
delivery and termination of this Agreement and the Notes and the making and repayment of the Loans.

          13.14 Domicile of Loans. Each Lender may transfer and carry its Loans at, to or for
the account of any office, Subsidiary or Affiliate of such Lender. Notwithstanding anything to the
contrary contained herein, to the extent that a transfer of Loans pursuant to this Section 13.14
would, at the time of such transfer, result in increased costs under Section 2.10, 2.11, 3.06 or
5.04 from those being charged by the respective Lender prior to such transfer, then the Borrower
shall not be obligated to pay such increased costs (although the Borrower shall be obligated to pay
any other increased costs of the type described above resulting from changes giving rise to such
increased costs after the date of the respective transfer to the extent such costs would have been
applicable had such transfer not occurred).

          13.15 Confidentiality. (a) Subject to the provisions of clause (b) of this Section
13.15, each Lender agrees that it will not disclose without the prior written consent of the
Borrower (other than to its employees, auditors, advisors, agents, representatives or counsel or to
another Lender, if the Lender or such Lender’s holding or parent company in its sole discretion
determines that any such party should have access to such information in connection with this
Agreement and the Transaction, provided such Persons shall be subject to the provisions of this
Section 13.15 to the same extent as such Lender) any information with respect to the Borrower or
any of its Subsidiaries which is now or in the future furnished pursuant to this Agreement or any
other Credit Document; provided that any Lender may disclose any such information (a) as
has become generally available to the public (other than as a result of a breach of this Section
13.15 by such Lender), (b) as may be required or appropriate in any report, statement or testimony
submitted to any municipal, state or Federal regulatory body having or claiming to have
jurisdiction over such Lender or to the Federal Reserve Board or the Federal Deposit Insurance
Corporation or similar organizations (whether in the United States or elsewhere) or their
successors, (c) as may be required or appropriate in respect to any summons or subpoena or in
connection with any litigation, (d) in order to comply with any law, order, regulation or ruling

138

 

applicable to such Lender, (e) to the Administrative Agent or the Collateral Agent, (f) to any
prospective or actual transferee or participant in connection with any contemplated transfer or
participation of any of the Notes or Commitments or any interest therein by such Lender;
provided that such prospective transferee agrees with such Lender on terms and conditions
substantially the same as those contained in this Section 13.15 and (g) to any Person (or such
Person’s investment advisor) with whom such Lender has entered into or proposes to enter into
(in each case either directly or indirectly) any credit swap agreement with respect to such
Lender’s Loans and/or Commitments; provided such Person (and such investment advisor, if
any) agrees to be bound by the confidentiality provisions contained in this Section 13.15.

          (b) The Borrower hereby acknowledges and agrees that each Lender may share with any of its
Affiliates any information related to the Borrower or any of its Subsidiaries (including, without
limitation, any nonpublic customer information regarding the creditworthiness of the Borrower and
its Subsidiaries), if the Lender or such Lender’s holding or parent company in its sole judgment
determines that any such party should have access to such information in connection with this
Agreement and the Transaction; provided such Persons shall be subject to the provisions of
this Section 13.15 to the same extent as such Lender and provided such sharing of information is
undertaken in connection with this Agreement and the Transaction.

          13.16 Registry. The Borrower hereby designates the Administrative Agent to serve as
the Borrower’s agent, solely for purposes of this Section 13.16, to maintain a register (the
“Register”) on which it will record the Commitments from time to time of each of the
Lenders, the Loans made by each of the Lenders and each repayment in respect of the principal
amount of the Loans of each Lender. The entries in the Register shall be conclusive, absent
manifest error. Failure to make any such recordation, or any error in such recordation shall not
affect the Borrower’s obligations in respect of such Loans. With respect to any Lender, the
transfer of the Commitments of such Lender and the rights to the principal of, and interest on, any
Loan made pursuant to such Commitments shall not be effective until such transfer is recorded on
the Register maintained by the Administrative Agent with respect to ownership of such Commitments
and Loans and prior to such recordation all amounts owing to the transferor with respect to such
Commitments and Loans shall remain owing to the transferor. The registration of assignment or
transfer of all or part of any Commitments and Loans shall be recorded by the Administrative Agent
on the Register upon and only upon the acceptance by the Administrative Agent of a properly
executed and delivered Assignment and Assumption Agreement pursuant to Section 13.04(b). Upon such
acceptance and recordation, the assignee specified therein shall be treated as a Lender for all
purposes of this Agreement. Coincident with the delivery of such an Assignment and Assumption
Agreement to the Administrative Agent for acceptance and registration of assignment or transfer of
all or part of a Loan, or as soon thereafter as practicable, the assigning or transferor Lender
shall surrender the Note (if any) evidencing such Loan, and thereupon one or more new Notes in the
same aggregate principal amount shall be issued to the assigning or transferor Lender and/or the
new Lender at the request of any such Lender. The Borrower agrees to indemnify the Administrative
Agent from and against any and all losses, claims, damages and liabilities of whatsoever nature
which may be imposed on, asserted against or incurred by the Administrative Agent in performing its
duties under this Section 13.16 except for gross negligence or willful misconduct. The Register
shall be available for inspection by the Borrower and any Lender (but
only to the extent of entries in

139

 

the Register that are applicable to such Lender) at any reasonable time and from time to time
upon reasonable prior notice.

          Any Lender granting a participation shall keep a register, acting as agent of the Borrower
solely for this purpose, specifying such participant’s entitlement to payments of principal,
interest and other amounts with respect to such participation (the “Participant Register”).
The entries in such Participant Register shall be conclusive absent manifest error, and the
Borrower, Lender, and any participant may treat each Person whose name is recorded in the
Participant Register pursuant to the terms hereof as a participant for all purposes of this
Agreement. For the avoidance of doubt, it is understood and agreed that no Lender shall have any
obligation to disclose all or any portion of the Participant Register to any Person (including the
identity of any participant or any information relating to a participant’s interest in any Loan or
other obligation under this Agreement) except to the extent that such disclosure is necessary to
establish that such Loan or other obligation is in registered form for purposes of Section 163(f)
of the Code.

          13.17 Application of Gaming Regulations. This Agreement is subject to the Gaming
Regulations and laws involving the manufacture, sale and distribution of alcoholic beverages (the
“Liquor Laws”). Without limiting the foregoing, the Administrative Agent and the Lenders
acknowledge that (i) they are subject to being called forward by the Gaming Authorities or such
other Governmental Authorities enforcing the Liquor Laws, in their discretion, for licensing or a
finding of suitability or to file or provide other information, and (ii) all rights, remedies and
powers in or under this Agreement 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
Gaming Authorities and such other Governmental Authorities. The Administrative Agent and the
Lenders agree to cooperate with all Gaming Authorities and such other Governmental Authorities in
connection with the provision of such documents or other information as may be requested by such
Gaming Authorities and such other Governmental Authorities.

          13.18 USA PATRIOT Act Notice. Each Lender hereby notifies each Credit Party that
pursuant to the requirements of the USA PATRIOT Act (Title III of Pub.L. 107-56 (signed into law
October 26, 2001)) (the “PATRIOT Act”), it is required to obtain, verify, and record
information that identifies each Credit Party, which information includes the name of each Credit
Party and other information that will allow such Lender to identify each Credit Party in accordance
with the PATRIOT Act, and each Credit Party agrees to provide such information from time to time to
any Lender.

          13.19 Post-Closing Actions. Notwithstanding anything to the contrary contained in
this Agreement or the other Credit Documents, the parties hereto acknowledge and agree that all
conditions precedent and representations, warranties, covenants, Events of Default and other
provisions contained in this Agreement and the other Credit Documents shall be deemed modified as
set forth on Schedule 13.19 hereto (and to permit the taking of the actions described therein
within the time periods required therein, rather than as elsewhere provided in the Credit
Documents); provided that (x) to the extent any representation and warranty would not be
true because the actions set
forth therein were not taken on the Initial Borrowing Date, the

140

 

respective representation and
warranty shall be required to be true and correct in all material respects at the time the
respective action is taken (or was required to be taken) in accordance with the provisions of
Schedule 13.19 and (y) all representations and warranties relating to the Security Documents shall
be required to be true immediately after the actions required to be taken by Schedule 13.19 have
been taken (or were required to be taken). The acceptance of the benefits of each Credit Event
shall constitute a representation, warranty and covenant by the Borrower to each of the Lenders
that the actions required pursuant to this Section 13.19 and Schedule 13.19 will be, or have been,
taken within the relevant time periods referred to in Schedule 13.19 and that, at such time, all
representations and warranties contained in this Agreement and the other Credit Documents shall
then be true and correct in all material respects without any modification pursuant to this Section
13.19 or Schedule 13.19, and the parties hereto acknowledge and agree that the failure to take any
of the actions required pursuant to Schedule 13.19, within the relevant time periods required
therein, shall give rise to an immediate Event of Default pursuant to this Agreement.

          13.20 Interest Rate Limitation. Notwithstanding anything to the contrary contained
in any Credit Document, the interest paid or agreed to be paid under the Credit Documents shall
not exceed the maximum rate of non-usurious interest permitted by applicable law (the
“Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an
amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of
the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining
whether the interest contracted for, charged, or received by the Administrative Agent or a Lender
exceeds the Maximum Rate, such Person may, to the extent permitted by applicable law, (a)
characterize any payment that is not principal as an expense, fee, or premium rather than
interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate,
allocate, and spread in equal or unequal parts the total amount of interest throughout the
contemplated term of the Obligations hereunder.

141

 

          IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to
execute and deliver this Agreement as of the date first above written.

	 	 	 	 	 
	Address: 

Ameristar Casinos, Inc.

3773 Howard Hughes Parkway, Suite 490S
	AMERISTAR CASINOS, INC.

 	 
	Las Vegas, Nevada  89169  	By:  	                               /s/ Peter C. Walsh
 	 
	Attention:  Chief Financial Officer 	  	                    Title: Senior Vice President & General Counsel 	 
	
Fax: 702-369-8860 	 	

	 
	

with copies to:

Ameristar Casinos, Inc.

16633 Ventura Boulevard, Suite 1050

Encino, California 91436

Attention:  Senior Vice President and

                 General Counsel

Fax:  702-733-8478  	 	 	 
	

60 Wall Street

New York, New York 10005 	
DEUTSCHE BANK TRUST COMPANY AMERICAS,

Individually and as Administrative Agent

 	 
	Tel:  (212) 250-6039  	By:  	                        /s/ Mary Kay Coyle
 	 
	Fax:  (212) 797-5690 	 	                        Title: Managing Director 	 
	Attention: May Kay Coyle 	 	 	 
	 
	 	By:  	/s/ Scottye Lindsey
 	 
	 	 	Title: Director 	 
	 	 	 	 
	 
	 	WELLS FARGO BANK, N.A.

as Joint Lead Arranger and Syndication Agent

 	 
	 	By:  	/s/ Candace Borrego
 	 
	 	 	Title: Vice President 	 
	 	 	 	 
	 
	 	BANK OF AMERICA, N.A.

as a Syndication Agent

 	 
	 	By:  	/s/ Brandon Bolio
 	 
	 	 	Title: Vice President 	 
	 	 	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.

as a Syndication Agent

 	 
	 	By:  	/s/ Marc Costantino
 	 
	 	 	Title: Executive Director 	 
	 
	 	COMMERZBANK AG, NEW YORK AND GRAND CAYMAN BRANCHES

as a Co-Documentation Agent

 	 
	 	By:  	/s/ Michael Weinert
 	 
	 	 	Title: Vice President 	 
	 	 	 
	 	By:  	/s/ Aleksandra Pacholek 	 
	 	 	Title: Associate 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION

as a Co-Documentation Agent

 	 
	 	By:  	/s/ Kyle E. Orrock
 	 
	 	 	Title: Assistant Vice President 	 
	 	 	 	 

 

 

SCHEDULE 2.01

COMMITMENTS

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	A Term Loan	 	B Term Loan	 	Revolving Loan
	Lenders	 	Commitments	 	Commitments	 	Commitments
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	DEUTSCHE BANK TRUST COMPANY AMERICAS
	 	 	200,000,000.00	 	 	 	700,000,000.00	 	 	 	500,000,000.00	 
	
	 	 	 	 	 	 	 	 	 	 	 	 
	Total:
	 	 	200,000,000.00	 	 	 	700,000,000.00	 	 	 	500,000,000.00	 

 

 

SCHEDULE 2.17

DUTCH AUCTION PROCEDURES

This Schedule 2.17 is intended to summarize certain basic terms of the modified Dutch auction procedures pursuant to and in accordance with the terms and conditions of Section
2.17 of the Credit Agreement, of which this Schedule 2.17 is a part. It is not
intended to be a definitive statement of all of the terms and conditions of a Dutch auction, the
definitive terms and conditions for which shall be set forth in the applicable offering document.
None of the Administrative Agent, the Auction Manager, or any of their respective affiliates or any
officers, directors, employees, agents or attorneys-in-fact of such Persons (together with the
Administrative Agent and its affiliates, the “Agent-Related Person”) makes any
recommendation pursuant to any offering document as to whether or not any Lender should sell its
Loans to the Borrower pursuant to any offering documents, nor shall the decision by the
Administrative Agent, the Auction Manager or any other Agent-Related Person (or any of their
affiliates) in its respective capacity as a Lender to sell its Loans to the Borrower be deemed to
constitute such a recommendation. Each Lender should make its own decision on whether to sell any
of its Loans and, if it decides to do so, the principal amount of and price to be sought for such
Loans. In addition, each Lender should consult its own attorney, business advisor or tax advisor
as to legal, business, tax and related matters concerning each Auction and the relevant offering
documents. Capitalized terms not otherwise defined in this Schedule 2.17 have the meanings
assigned to them in the Credit Agreement.

     (a) Notice Procedures. In connection with each Auction, the Borrower will provide
notification to the Auction Manager (for distribution to the Lenders of the Loans (each, an
“Auction Notice”)). Each Auction Notice shall contain (i) the maximum principal amount
(calculated on the face amount thereof) of Loans that the Borrower offers to purchase in such
Auction (the “Auction Amount”), which shall be no less than $5,000,000 (unless another
amount is agreed to by the Administrative Agent); (ii) the range of discounts to par (the
“Discount Range”), expressed as a range of prices per $1,000 (in increments of $5), at
which the Borrower would be willing to purchase Loans in such Auction; and (iii) the date on which
such Auction will conclude, on which date Return Bids (as defined below) will be due by 1:00 p.m.
(New York time) (as such date and time may be extended by the Auction Manager, such time the
“Expiration Time”). Such Expiration Time may be extended for a period not exceeding three
(3) Business Days upon notice by the Borrower to the Auction Manager received not less than 24
hours before the original Expiration Time; provided that only one extension per offer shall
be permitted. An Auction shall be regarded as a “failed auction” in the event that either (x) the
Borrower withdraws such Auction in accordance with the terms hereof or (y) the Expiration Time
occurs with no Qualifying Bids (as defined below) having been received. In the event of a failed
auction, the Borrower shall not be permitted to deliver a new Auction Notice prior to the date
occurring three (3) Business Days after such withdrawal or Expiration Time, as the case may be.
Notwithstanding anything to the contrary contained herein, the Borrower shall not initiate any
Auction by delivering an Auction Notice to the Auction Manager until after the conclusion (whether
successful or failed) of the previous Auction (if any), whether such conclusion occurs by
withdrawal of such previous Auction or the occurrence of the Expiration Time of such previous
Auction.

     (b) Reply Procedures. In connection with any Auction, each Lender of Loans wishing

 

 

to participate in such Auction shall, prior to the Expiration Time, provide the Auction
Manager with a notice of participation, in the form included in the respective offering document
(each, a “Return Bid”) which shall specify (i) a discount to par that must be expressed as
a price per $1,000 (in increments of $5) in principal amount of Loans (the “Reply Price”)
within the Discount Range and (ii) the principal amount of Loans, in an amount not less than
$1,000,000 or an integral multiple of $1,000 in excess thereof, that such Lender offers for sale at
its Reply Price (the “Reply Amount”). A Lender may submit a Reply Amount that is less than
the minimum amount and incremental amount requirements described above only if the Reply Amount
comprises the entire amount of the Loans held by such Lender. Lenders may only submit one Return
Bid per Auction but each Return Bid may contain up to three (3) component bids, each of which may
result in a separate Qualifying Bid and each of which will not be contingent on any other component
bid submitted by such Lender resulting in a Qualifying Bid. In addition to the Return Bid, the
participating Lender must execute and deliver, to be held by the Auction Manager, an assignment and
acceptance in the form included in the offering document (each, an “Auction Assignment and
Assumption”). The Borrower will not purchase any Loans at a price that is outside of the
applicable Discount Range, nor will any Return Bids (including any component bids specified
therein) submitted at a price that is outside such applicable Discount Range be considered in any
calculation of the Applicable Threshold Price.

     (c) Acceptance Procedures. Based on the Reply Prices and Reply Amounts received by
the Auction Manager, the Auction Manager, in consultation with the Borrower, will calculate the
lowest purchase price (the “Applicable Threshold Price”) for such Auction within the
Discount Range for such Auction that will allow the Borrower to complete the Auction by purchasing
the full Auction Amount (or such lesser amount of Loans for which the Borrower has received
Qualifying Bids). The Borrower shall purchase Loans from each Lender whose Return Bid is within the
Discount Range and contains a Reply Price that is equal to or less than the Applicable Threshold
Price (each, a “Qualifying Bid”). All Loans included in Qualifying Bids (including
multiple component Qualifying Bids contained in a single Return Bid) received at a Reply Price
lower than the Applicable Threshold Price will be purchased at such applicable Reply Prices and
shall not be subject to proration.

     (d) Proration Procedures. All Loans offered in Return Bids (or, if applicable, any
component thereof) constituting Qualifying Bids at the Applicable Threshold Price will be purchased
at the Applicable Threshold Price; provided that if the aggregate principal amount
(calculated on the face amount thereof) of all Loans for which Qualifying Bids have been submitted
in any given Auction at the Applicable Threshold Price would exceed the remaining portion of the
Auction Amount (after deducting all Loans to be purchased at prices below the Applicable Threshold
Price), the Borrower shall purchase the Loans for which the Qualifying Bids submitted were at the
Applicable Threshold Price ratably based on the respective principal amounts offered and in an
aggregate amount equal to the amount necessary to complete the purchase of the Auction Amount. No
Return Bids or any component thereof will be accepted above the Applicable Threshold Price.

     (e) Notification Procedures. The Auction Manager will calculate the Applicable
Threshold Price and post the Applicable Threshold Price and proration factor onto an internet or
intranet site (including an IntraLinks, SyndTrak or other electronic workspace) in accordance with
the Auction Manager’s standard dissemination practices by 4:00 p.m. New York time on the same

2

 

Business Day as the date the Return Bids were due (as such due date may be extended in
accordance with this Schedule 2.17). The Auction Manager will insert the principal amount
of Loans to be assigned and the applicable settlement date into each applicable Auction Assignment
and Assumption received in connection with a Qualifying Bid. Upon the request of the submitting
Lender, the Auction Manager will promptly return any Auction Assignment and Assumption received in
connection with a Return Bid that is not a Qualifying Bid.

     (f) Auction Assignment and Assumption. Each Auction Assignment and Assumption shall
contain the following representations and warranties by the Borrower:

	 	(i)	 	The conditions set forth in Section 2.17(a) of
the Credit Agreement have each been satisfied on and as of the date
hereof.
	 
	 	(ii)	 	The representations and warranties of the Borrower and
each other Credit Party contained in Section 8 of the Credit
Agreement or any other Credit Document, or which are contained in any
document furnished at any time under or in connection herewith or
therewith, shall be true and correct in all material respects (other
than any representation or warranty that is qualified by materiality or
reference to Material Adverse Effect, which shall be true and correct
in all respects) on and as of the date hereof, except to the extent
that such representations and warranties specifically refer to an
earlier date, in which case they shall be true and correct as of such
earlier date, and except that for purposes hereof, the representations
and warranties contained in Section 8.05 of the Credit Agreement shall
be deemed to refer to the most recent statements furnished pursuant to
the terms of Credit Agreement

     (g) Additional Procedures. Once initiated by an Auction Notice, the Borrower may
withdraw an Auction only in the event that, a) as of such time, no Qualifying Bid has been received
by the Auction Manager, or b) Borrower has failed to meet a condition set forth in Section 2.17(a)
of the Credit Agreement. Furthermore, in connection with any Auction, upon submission by a Lender
of a Return Bid, such Lender will not have any withdrawal rights. Any Return Bid (including any
component bid thereof) delivered to the Auction Manager may not be modified, revoked, terminated or
cancelled by a Lender. However, an Auction may become void if the conditions to the purchase of
Loans by the Borrower required by the terms and conditions of Section 2.17 of the Credit Agreement
are not met. The purchase price in respect of each Qualifying Bid for which purchase by the
Borrower is required in accordance with the foregoing provisions shall be paid directly by the
Borrower to the respective assigning Lender on a settlement date as determined jointly by the
Borrower and the Auction Manager (which shall be not later than ten (10) Business Days after the
date Return Bids are due). The Borrower shall execute each applicable Auction Assignment and
Assumption received in connection with a Qualifying Bid. All questions as to the form of documents
and validity and eligibility of Loans that are the subject of an Auction will be determined by the
Auction Manager, in consultation with the Borrower, and their determination will be final and
binding so long as such determination is not inconsistent with the terms of Section 2.17 of the
Credit Agreement or this Schedule 2.17. The Auction Manager’s interpretation of the terms and
conditions of the offering document, in consultation with the

3

 

Borrower, will be final and binding so long as such interpretation is not inconsistent with the
terms of Section 2.17 of the Credit Agreement or this Schedule 2.17. None of the Administrative
Agent, the Auction Manager, any other Agent-Related Person or any of their respective affiliates
assumes any responsibility for the accuracy or completeness of the information concerning the
Borrower, the Credit Parties, or any of their affiliates (whether contained in an offering document
or otherwise) or for any failure to disclose events that may have occurred and may affect the
significance or accuracy of such information. This Schedule 2.17 shall not require the Borrower to
initiate any Auction.

4

 

SCHEDULE 3.01

Existing Letters of Credit

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Automatic	 	Latest	 	 
	L/C No.	 	Amount	 	Issued	 	Expiry	 	Extension	 	Expiry	 	Beneficiary
	S18546
	 	$	57,296.00	 	 	 	3/10/10	 	 	 	9/24/11	 	 	Yes	 	 	9/24/11	 	 	City of Black Hawk
	S18341
	 	$	381,035.00	 	 	 	8/7/09	 	 	 	5/31/12	 	 	Yes	 	 	 	 	 	Northern Indiana Public Service
	S13820
	 	$	2,607,889.06	 	 	 	12/20/00	 	 	 	8/15/11	 	 	Yes	 	 	 	 	 	Firstar Bank, Cedar Rapids, IA
	S13906
	 	$	170,000.00	 	 	 	03/06/01	 	 	 	11/20/11	 	 	Yes	 	 	 	 	 	Entergy Mississippi, Inc.
	S14217
	 	$	500,000.00	 	 	 	08/01/01	 	 	 	11/20/11	 	 	Yes	 	 	 	 	 	Legion Insurance Company
	S14964
	 	$	487,000.00	 	 	 	12/11/02	 	 	 	11/20/11	 	 	Yes	 	 	 	 	 	State of Nevada, Division of Insurance
	TOTAL
	 	$	4,203,220.06	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

 

SCHEDULE 6.10

Ship Properties

			
	*	 	Ship Properties marked with an asterisk are Mortgaged Ship Properties.

	 	 	 	 	 	 	 	 	 
	Location	 	Name	 	Description	 	Official Number
	Council Bluffs

	 	Ameristar II*
	 	Permanently moored riverboat
	 	 	1035267	 
	Kansas City

	 	River King*
	 	Permanently-moored barge in coffer-dam
	 	 	1050080	 
	Kansas City

	 	River Queen*
	 	Permanently-moored barge in coffer-dam
	 	 	1050081	 
	St. Charles

	 	St. Charles I*
	 	Permanently-moored barge in coffer-dam
	 	 	1043286	 
	St. Charles

	 	St. Charles II*
	 	Permanently-moored barge in coffer-dam
	 	 	1043287	 
	East Chicago

	 	Winstar*
	 	Non-cruising riverboat
	 	 	1052579	 

 

 

SCHEDULE 8.09

Tax Matters

     1. The Internal Revenue Service (“IRS”) is conducting an examination of the Borrower’s
consolidated federal income tax returns for the years ended December 31, 2006, 2007, 2008 and 2009.
In April 2011, the IRS issued eight Notices of Proposed Adjustments related to the audit. The
statute of limitations for the tax years ended December 31, 2006 and 2007 have been extended
through June 30, 2012 in connection with this audit.

     2. The Missouri Department of Revenue is conducting an audit of Ameristar Casino Kansas City,
Inc.’s sales, use and payroll withholding taxes for the years ended December 31, 2007, 2008 and
2009.

     3. Ameristar Casino Council Bluffs, Inc. has filed a protest of its Iowa sales, use and local
tax assessment for the period October 1, 2004 through September 30, 2007.

     4. The Borrower has filed a protest of the California Franchise Tax Board’s Notices of
Proposed Assessments for its income tax returns for the years ended December 31, 2003, 2004 and
2005.

     5. Ameristar Casino St. Charles, Inc. has filed a Notice of Appeal of its 2009 and 2010 real
property taxes in St. Charles County, Missouri.

     6. Ameristar Casino Council Bluffs, Inc. has filed a Notice of Appeal and Petition of its 2010
real property taxes in Pottawattamie County, Iowa.

     7. Ameristar Casino East Chicago, LLC has filed a Notice of Appeal of its 2008 and 2009 real
property taxes in Lake County, Indiana.

     8. Ameristar Casino East Chicago, LLC has filed a Notice of Appeal of its 2010 personal
property taxes in Lake County, Indiana.

     9. The Indiana Department of Revenue is conducting an audit of Ameristar Casino East Chicago,
LLC’s sales and use taxes for the period from September 2007 through December 2009. In connection
with this audit, we extended the statute of limitations for the 2007 year until December 31, 2011.

     10. The Department of Labor has reviewed certain payroll information for Ameristar Casino East
Chicago, LLC during 2010 and 2011. This review has been recommended for closure with no findings.

     11. The IRS is conducting an audit of the Borrower’s 401(k) Plan for the year ended December
31, 2008.

 

 

SCHEDULE 8.10

ERISA Matters

     A Subsidiary of the Borrower currently contributes to the Seafarers Pension Plan and the
Seafarers Money Purchase Pension Plan, each a multiemployer Plan, for the benefit of approximately
12 and 20 employees, respectively, who are covered by collective bargaining agreements at its East
Chicago facility. The amount of the contributions is not material.

 

 

SCHEDULE 8.11(c)

Real Property

			
	*	 	Properties marked with an asterisk are Mortgaged Properties.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Entity	 	Description	 	Address	 	City	 	State	 	Ownership	 	 
	 
	Corporate

	 	Headquarters
	 	3773 Howard Hughes Pkwy
	 	Las Vegas
	 	NV
	 	Leasehold	 	 
	Corporate

	 	Encino Office
	 	16633 Ventura Boulevard, Suite 1050
	 	Encino
	 	CA
	 	Leasehold	 	 
	Corporate

	 	Bigwood Condominium Units F-6 and F-9
	 	129 Saddle Rd, Ketchum, ID
	 	Ketchum
	 	ID
	 	Leasehold	 	 
	*Black Hawk

	 	Facility site
	 	111 Richman St. (+ hillside land across
street)
	 	Black Hawk
	 	CO
	 	Fee	 	 
	Black Hawk

	 	Warehouse
	 	15173 Highway 119
	 	Gilpin County
	 	CO
	 	Fee	 	 
	Black Hawk

	 	Former Richman Casino
	 	100 Richman St.
	 	Black Hawk
	 	CO
	 	Fee	 	 
	Black Hawk

	 	Former Kerr Property
	 	402 Silver Gulch Road
	 	Black Hawk
	 	CO
	 	Fee	 	 
	*Cactus Pete’s

	 	Horseshu Hotel
	 	1220 Highway 93
	 	Jackpot
	 	NV
	 	Fee	 	 
	*Cactus Pete’s

	 	Horseshu Casino
	 	1304 Highway 93
	 	Jackpot
	 	NV
	 	Fee	 	 
	Cactus Pete’s

	 	Parking lot and general store
	 	1308 Highway 93
	 	Jackpot
	 	NV
	 	Fee	 	 
	*Cactus Pete’s

	 	Cactus Petes casino site
	 	1385 Highway 93
	 	Jackpot
	 	NV
	 	Fee	 	 
	Cactus Pete’s

	 	Chevron station
	 	1104 Highway 93
	 	Jackpot
	 	NV
	 	Fee	 	 
	Cactus Pete’s

	 	Cactus Petes condos
	 	1490 Keno Dr.
	 	Jackpot
	 	NV
	 	Fee	 	 
	Cactus Pete’s

	 	Billboard site W side of 93
	 	 	 	Jackpot
	 	NV
	 	Fee	 	 
	Cactus Pete’s

	 	Middle Stack Apartments
	 	2400 Ace Dr.
	 	Jackpot
	 	NV
	 	Fee	 	 
	Cactus Pete’s

	 	Gray studios
	 	2405 Ace Dr.
	 	Jackpot
	 	NV
	 	Fee	 	 
	Cactus Pete’s

	 	Twin Springs Apartments
	 	2301 Ace Dr.
	 	Jackpot
	 	NV
	 	Fee	 	 
	Cactus Pete’s

	 	Main RV park next to airport
	 	1315 Keno Dr.
	 	Jackpot
	 	NV
	 	Fee	 	 
	Cactus Pete’s

	 	Trailer park
	 	1201 Keno Dr.
	 	Jackpot
	 	NV
	 	Fee	 	 
	Cactus Pete’s

	 	Truck parking lot south of general store
	 	 	 	Jackpot
	 	NV
	 	Fee	 	 
	Cactus Pete’s

	 	Horse arena
	 	 	 	Jackpot
	 	NV
	 	Fee	 	 
	Cactus Pete’s

	 	Cactus Petes storage area, vacant lot & truck parking
	 	Keno Dr.
	 	Jackpot
	 	NV
	 	Fee	 	 
	Cactus Pete’s

	 	Vacant field SW of LDS church
	 	 	 	Jackpot
	 	NV
	 	Fee	 	 
	Cactus Pete’s

	 	Vacant lot next to truck parking
	 	 	 	Jackpot
	 	NV
	 	Fee	 	 
	Cactus Pete’s

	 	Office space (recruiting)
	 	550 Blue Lakes Blvd North
	 	Twin Falls
	 	ID
	 	Leasehold	 	 
	*Council Bluffs

	 	Casino site (including parcel disclaimed by IA)
	 	2200 River Road
	 	Council Bluffs
	 	IA
	 	Fee (except disclaimed parcel)	 	 
	Council Bluffs

	 	Truck parking (former Agriliance land)
	 	 	 	Council Bluffs
	 	IA
	 	Fee	 	 
	Council Bluffs

	 	Warehouse
	 	2121 South 7th Street
	 	Council Bluffs
	 	IA
	 	Leasehold	 	 
	*Council Bluffs

	 	Holiday Inn
	 	2202 River Road (within Casino site parcel)
	 	Council Bluffs
	 	IA
	 	Landlord	 	 
	*Council Bluffs

	 	Hampton Inn
	 	2204 River Road (within Casino site parcel)
	 	Council Bluffs
	 	IA
	 	Landlord	 	 
	*East Chicago

	 	Facility site
	 	777 Ameristar Blvd.
	 	East Chicago
	 	IN
	 	Leasehold	 	 
	*Kansas City

	 	Facility site
	 	3200 North Ameristar Drive
	 	Kansas City
	 	MO
	 	Fee	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Entity	 	Description	 	Address	 	City	 	State	 	Ownership	 	 
	 
	Kansas City

	 	Hunt Midwest cave storage
	 	8600 N.E. Underground Drive
	 	Kansas City
	 	MO
	 	Leasehold	 	 
	*Kansas City

	 	Spectrum (child care facility)
	 	3250 North Ameristar Drive
	 	Kansas City
	 	MO
	 	Landlord	 	 
	*St. Charles

	 	Main facility site
	 	1260 S Main St.
	 	St. Charles
	 	MO
	 	Fee	 	 
	St. Charles

	 	Undeveloped wetlands, adjacent to Family Arena
complex along Missouri river
	 	S River Rd
	 	St. Charles
	 	MO
	 	Fee	 	 
	St. Charles

	 	Undeveloped wetlands in West Alton, MO. Adjacent to
the Missouri river
	 	“Off Red School House”
	 	West Alton
	 	MO
	 	Fee	 	 
	*Vicksburg

	 	Casino site
	 	4116 — 4146 Washington St.
	 	Vicksburg
	 	MS
	 	Fee	 	 
	*Vicksburg

	 	Hotel site
	 	4155 Washington St.
	 	Vicksburg
	 	MS
	 	Fee	 	 
	Vicksburg

	 	Administration Building
	 	4116 Washington St.
	 	Vicksburg
	 	MS
	 	Fee	 	 
	Vicksburg

	 	Engineering Building
	 	4115 Washington St.
	 	Vicksburg
	 	MS
	 	Fee	 	 
	Vicksburg

	 	Shell gas station and related land
	 	4133-4135 Washington St.
	 	Vicksburg
	 	MS
	 	Fee	 	 
	Vicksburg

	 	Latham North parcel (vacant)
	 	Washington St.
	 	Vicksburg
	 	MS
	 	Fee	 	 
	Vicksburg

	 	Carwash (vacant)
	 	Washington St.
	 	Vicksburg
	 	MS
	 	Fee	 	 
	Vicksburg

	 	Goldie’s parcel (vacant)
	 	Washington St.
	 	Vicksburg
	 	MS
	 	Fee	 	 
	Vicksburg

	 	McDonald parcel (vacant)
	 	Washington St.
	 	Vicksburg
	 	MS
	 	Fee	 	 
	Vicksburg

	 	Riverview parcel (vacant)
	 	Washington St.
	 	Vicksburg
	 	MS
	 	Fee	 	 
	Vicksburg

	 	Beavers parcel
	 	Washington St.
	 	Vicksburg
	 	MS
	 	Leasehold (long-term)	 	 
	Vicksburg

	 	Warehouse (former Sears building)
	 	Former Battlefield Mall
	 	Vicksburg
	 	MS
	 	Leasehold (mo.-to-mo.)	 	 

2

 

SCHEDULE 8.13

Subsidiaries

Ameristar Casino Black Hawk, Inc., a Colorado corporation;

Ameristar Casino Council Bluffs, Inc., an Iowa corporation;

Ameristar Casino St. Charles, Inc., a Missouri corporation;

Ameristar Casino St. Louis, Inc., a Missouri corporation;

Ameristar Casino Kansas City, Inc., a Missouri corporation;

Ameristar Casino Vicksburg, Inc., a Mississippi corporation;

Cactus Pete’s, Inc., a Nevada corporation;

Ameristar Casino Las Vegas, Inc., a Nevada corporation;

A.C. Food Services, Inc., a Nevada corporation;

Ameristar East Chicago Holdings, LLC, an Indiana limited liability company;

Ameristar Casino East Chicago, LLC, an Indiana limited liability company;

Richmond Street Development, Inc., a Pennsylvania corporation; and

Nickel Acquisition Corp., a Delaware corporation.

 

 

SCHEDULE 8.18

Existing Indebtedness

None.

 

 

SCHEDULE 8.19

Environmental Matters

     According to the Environmental Data Registry (“EDR”) and Nevada Department of Environmental
Protection records, there are nine underground storage tanks (“USTs”) on property owned and
operated by a Subsidiary of the Borrower in Jackpot, Nevada, including six at a Chevron service
station owned and operated by the Subsidiary. The USTs were installed between 1972 and 1984. Six
of the USTs are in use and three are permanently out of use. The USTs contain gasoline, diesel
fuel, waste oil and other contents.

     According to the EDR and Mississippi Department of Environmental Quality records, there are
six USTs on property owned and operated by a Subsidiary of the Borrower as a Shell service station
in Vicksburg, Mississippi. The USTs were installed between 1975 and 1983. Five of the USTs are in
use and one is closed. The USTs contain gasoline, diesel fuel and kerosene.

 

 

SCHEDULE 8.20

Legal Names; Type of Organization (and whether a Registered Organization); Jurisdiction of

Organization, etc.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Type of	 	Registered	 	Jurisdiction of	 	Transmitting	 	Organizational
	Legal Name	 	Organization	 	Organization?	 	Organization	 	Utility?	 	ID Number
	Ameristar Casinos,
Inc.

	 	Corporation
	 	Yes
	 	Nevada
	 	No
	 	 	C10616-1993	 
	Ameristar Casino
Black Hawk, Inc.

	 	Corporation
	 	Yes
	 	Colorado
	 	No
	 	 	20041217988	 
	Ameristar Casino
Council Bluffs,
Inc.

	 	Corporation
	 	Yes
	 	Iowa
	 	No
	 	 	176851	 
	Ameristar Casino
St. Charles, Inc.

	 	Corporation
	 	Yes
	 	Missouri
	 	No
	 	 	488762	 
	Ameristar Casino
St. Louis, Inc.

	 	Corporation
	 	Yes
	 	Missouri
	 	No
	 	 	475047	 
	Ameristar Casino
Kansas City, Inc.

	 	Corporation
	 	Yes
	 	Missouri
	 	No
	 	 	488764	 
	Ameristar Casino
Vicksburg, Inc.

	 	Corporation
	 	Yes
	 	Mississippi
	 	No
	 	 	600744	 
	Cactus Pete’s, Inc.

	 	Corporation
	 	Yes
	 	Nevada
	 	No
	 	 	C504-1956	 
	Ameristar Casino
Las Vegas, Inc.

	 	Corporation
	 	Yes
	 	Nevada
	 	No
	 	 	C9692-1996	 
	A.C. Food Services,
Inc.

	 	Corporation
	 	Yes
	 	Nevada
	 	No
	 	 	C3478-1997	 
	Ameristar East 

Chicago Holdings,
LLC

	 	Limited Liability

Company
	 	Yes
	 	Indiana
	 	No
	 	 	2007051700265	 
	Ameristar 

Casino East 

Chicago, LLC

	 	Limited Liablity

Company
	 	Yes
	 	Indiana
	 	No
	 	 	2004100100200	 

 

 

SCHEDULE 10.01(iii)

Existing Liens

	 	 	 	 	 	 	 	 	 	 	 
	 	 	JURISDICTION	 	SEARCH	 	 	 	FILE NO./	 	COLLATERAL
	DEBTOR(S)	 	SEARCHED	 	VALID THRU	 	SECURED PARTY	 	FILE DATE	 	DESCRIPTION
	Ameristar Casinos, Inc.

	 	NV SOS
	 	3/17/11
	 	CIT Technology 

Financing Services, Inc. 

10201 Centurion 

Parkway North Suite 100

Jacksonville, FL 32256
	 	Initial

2007005664-7

02/22/07
	 	E(S)
	Ameristar Casinos, Inc.

	 	NV SOS
	 	3/17/11
	 	CIT Technology
Financing Services, Inc. 

10201 Centurion Parkway 

North Suite 100

Jacksonville, FL 32256
	 	Initial

2007010465-2

04/03/07
	 	E(S)
	Ameristar Casinos, Inc.

	 	NV SOS
	 	3/17/11
	 	CIT Technology 

Financing Services, Inc. 

10201 Centurion Parkway 

North Suite 100

Jacksonville, FL 32256
	 	Initial

2007010466-4

04/03/07
	 	E(S)
	Ameristar Casinos, Inc.

	 	NV SOS
	 	3/17/11
	 	CIT Technology 

Financing Services, Inc. 

10201 Centurion Parkway 

North Suite 100

Jacksonville, FL 32256
	 	Initial

2007010467-6

04/03/07
	 	E(S)
	Ameristar Casinos, Inc.

	 	NV SOS
	 	3/17/11
	 	CIT Technology 

Financing Services, Inc. 
10201 Centurion
 Parkway
North Suite 100

Jacksonville, FL 32256
	 	Initial

2007011562-9

04/11/07
	 	E(S)
	Ameristar Casinos, Inc.

	 	NV SOS
	 	3/17/11
	 	CIT Technology 

Financing Services, Inc. 

10201 Centurion Parkway 

North Suite 100

Jacksonville, FL 32256
	 	Initial

2007011563-1

04/11/07
	 	E(S)
	Ameristar Casinos, Inc.

	 	NV SOS
	 	3/17/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

2009020352-9

08/19/09
	 	E(S)
	Ameristar Casinos, Inc.

	 	NV SOS
	 	3/17/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

2009020390-9

08/19/09
	 	E(S)
	Ameristar Casinos, Inc.

	 	NV SOS
	 	3/17/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

2009030674-3

12/21/09
	 	E(S)

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	JURISDICTION	 	SEARCH	 	 	 	FILE NO./	 	COLLATERAL
	DEBTOR(S)	 	SEARCHED	 	VALID THRU	 	SECURED PARTY	 	FILE DATE	 	DESCRIPTION
	Ameristar Casinos, Inc.

	 	NV SOS
	 	3/17/11
	 	WIMS Gaming, Inc.

800 S. Northpoint Blvd.

Waukegan, IL 50085
	 	Initial

2010024607-7

09/29/10
	 	E(S)
	Cactus Pete’s

	 	NV SOS
	 	03/17/11
	 	WMS Gaming Inc.

800 South Northpoint Blvd 

Waukegan, IL 60085
	 	Initial

2004015629-9

05/17/04
	 	E(S)
	 

	 	 	 	 	 	 	 	Continuation

2009009105-1

04/10/09	 	 
	Cactus Pete’s

	 	NV SOS
	 	03/17/11
	 	Jackson Oil, Inc. 

3450 Commercial Court 

Meridian, ID 83642
	 	Initial

2006019066-3

06/15/06
	 	E(S)
	Cactus Pete’s

	 	NV SOS
	 	03/17/11
	 	Central Products Inc. 

7750 Georgetown Road 

Indianapolis, Indiana 46268
	 	Initial

2007032171-5

10/01/07
	 	E(S)
	Cactus Pete’s

	 	NV SOS
	 	03/17/11
	 	CIT Technology 

Financing Services, Inc. 

10201 Centurion Parkway 

North Suite 100

Jacksonville, FL 32256
	 	Initial

2008018005-8

06/05/08
	 	E(C)
	Cactus Pete’s

	 	NV SOS
	 	03/17/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

2009018251-1

07/24/09
	 	E(S)
	Cactus Pete’s

	 	NV SOS
	 	03/17/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

2009025296-4

10/19/09
	 	E(S)
	Cactus Pete’s

	 	NV SOS
	 	03/17/11
	 	US Bancorp

1310 Madrid Street

Marshall, MN 56258
	 	Initial

2009025444-9

10/21/09
	 	E(S)
	Cactus Pete’s

	 	NV SOS
	 	03/17/11
	 	Golden West Advertising 

114 E. 37th Street 

Boise, ID 83714
	 	Initial

2009026046-6

10/28/09
	 	E(S)
	Cactus Pete’s

	 	NV SOS
	 	03/17/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

2010001275-5

01/14/10
	 	E(S)
	Cactus Pete’s

	 	NV SOS
	 	03/17/11
	 	Aristocrat Technologies, Inc. 

7230 Amigo Street 

Las Vegas, NV 89119
	 	Initial

2010025202-0

10/05/10
	 	E(S)
	Cactus Pete’s

	 	NV SOS
	 	03/17/11
	 	Konami Gaming, Inc.

585 Trade Center Drive 

Las Vegas, NV 89119
	 	Initial

2010028554-8

11/11/10
	 	E(C)

2

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	JURISDICTION	 	SEARCH	 	 	 	FILE NO./	 	COLLATERAL
	DEBTOR(S)	 	SEARCHED	 	VALID THRU	 	SECURED PARTY	 	FILE DATE	 	DESCRIPTION
	Cactus Pete’s

	 	NV SOS
	 	03/17/11
	 	Bally Technologies, Inc. 

6601 S. Bermuda 

Las Vegas, NV 89119
	 	Initial

2011003459-9

02/10/11
	 	E(S)
	Cactus Pete’s

	 	NV SOS
	 	03/17/11
	 	Konami Gaming, Inc. 

585 Trade Center Drive 

Las Vegas, NV 89119
	 	Initial

2011005902-2

03/10/11
	 	E(C)
	Ameristar Casino
Kansas City, Inc.

	 	MO SOS
	 	03/13/11
	 	WMS Gaming Inc. 

800 South Northpoint Blvd 

Waukegan, IL 60085
	 	Initial

20040051103H

05/11/04
	 	E(C)
	 

	 	 	 	 	 	 	 	Continuation

20090035108K

04/09/09	 	 
	Ameristar Casino
Kansas City, Inc.

	 	MO SOS
	 	03/13/11
	 	Missouri Office Systems &

Supply

1961 Hirst Drive

Moberly, MO 65270
	 	Initial

20080000473F

01/02/08
	 	E(C)
	Ameristar Casino
Kansas City, Inc.

	 	MO SOS
	 	03/13/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

20090097887A

10/06/09
	 	E(S)
	Ameristar Casino 

Kansas City, Inc.

	 	MO SOS
	 	03/13/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

20090097902K

10/06/09
	 	E(S)
	Ameristar Casino 

Kansas City, Inc.

	 	MO SOS
	 	03/13/11
	 	Ainsworth Game Technology 

Limited 

6600 NW 12th
Avenue,
 Suite 201

Ft. Lauderdale, FL 33309
	 	Initial

20090105180H

10/26/09
	 	O
Financed equipment

and proceeds —

fixtures and

proceeds
	Ameristar Casino
Kansas City, Inc.

	 	MO SOS
	 	03/13/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

20090126263B

12/30/09
	 	E(S)
	Ameristar Casino 

Kansas City, Inc.

	 	MO SOS
	 	03/13/11
	 	Aristocrat Technologies, Inc. 

7230 Amigo Street 

Las Vegas, NV 89119
	 	Initial

20100052221G

05/18/10
	 	E(S)
	Ameristar Casino 

Kansas City, Inc.

	 	MO SOS
	 	03/13/11
	 	Konami Gaming, Inc. 

585 Trade Center Drive 

Las Vegas, NV 89119
	 	Initial

20100064828B

06/22/10
	 	E(C)
	Ameristar Casino 

Kansas City, Inc.

	 	MO SOS
	 	03/13/11
	 	Konami Gaming, Inc. 

585 Trade Center Drive 

Las Vegas, NV 89119
	 	Initial

20100084737C

08/17/10
	 	E(C)

3

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	JURISDICTION	 	SEARCH	 	 	 	FILE NO./	 	COLLATERAL
	DEBTOR(S)	 	SEARCHED	 	VALID THRU	 	SECURED PARTY	 	FILE DATE	 	DESCRIPTION
	Ameristar Casino 

Kansas City, Inc.

	 	MO SOS
	 	03/13/11
	 	Aristocrat Technologies, Inc. 

7230 Amigo Street 

Las Vegas, NV 89119
	 	Initial

20100100910F

10/01/10
	 	E(S)
	Ameristar Casino
Kansas City, Inc.

	 	MO SOS
	 	03/13/11
	 	Bally Technologies, Inc. 

6601 S. Bermuda 

Las Vegas, NV 89119
	 	Initial

20110001423F

01/05/11
	 	E(S)
	Ameristar Casino 

Kansas City, Inc.

	 	MO SOS
	 	03/13/11
	 	Konami Gaming, Inc.

585 Trade Center Drive 

Las Vegas, NV 89119
	 	Initial

20110007788F

01/21/11
	 	E(C)
	Ameristar Casino 

Kansas City, Inc.

	 	MO SOS
	 	03/13/11
	 	Konami Gaming, Inc. 

585 Trade Center Drive 

Las Vegas, NV 89119
	 	Initial

20110007789G

01/21/11
	 	E(C)
	Ameristar Casino 

Kansas City, Inc.

	 	MO SOS
	 	03/13/11
	 	Konami Gaming, Inc. 

585 Trade Center Drive 

Las Vegas, NV 89119
	 	Initial

20110015138C

02/11/11
	 	E(C)
	Ameristar Casino 

Kansas City, Inc.

	 	MO SOS
	 	03/13/11
	 	Missouri Office Systems &

Supply

1961 Hirst Drive

Moberly, MO 65270
	 	Initial

20110024982M

03/09/11
	 	E(C)
	Ameristar Casino St. 

Charles, Inc.

	 	MO SOS
	 	03/13/11
	 	GE Capital

PO Box 740423

Atlanta, GA 30374

Assignor Secured Party

CDS Office Systems, Inc.

PO Box 740441

Atlanta, GA 70441
	 	Initial

20020108982C

09/30/02
	 	E(S)
	 

	 	 	 	 	 	 	 	Continuation

04/13/07

20070042630F

04/13/07	 	 
	Ameristar Casino St.

Charles Inc

	 	MO SOS
	 	03/13/11
	 	Canon Financial Services

158 Gaither Drive #200

Mt Laurel, NJ 08054
	 	Initial

20070012022H

01/31/07
	 	E(C)
	Ameristar Casino St. 

Charles, Inc.

	 	MO SOS
	 	03/13/11
	 	QRS, Inc.
PO Box 17166
Louisville, KY 40217
	 	Initial

20070080450H

07/09/07
	 	E(S)
	Ameristar Casino St.
Charles Inc

	 	MO SOS
	 	03/13/11
	 	Canon Financial Services

158 Gaither Drive #200

Mt Laurel, NJ 08054
	 	Initial

20080000495K

01/02/08
	 	E(C)

4

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	JURISDICTION	 	SEARCH	 	 	 	FILE NO./	 	COLLATERAL
	DEBTOR(S)	 	SEARCHED	 	VALID THRU	 	SECURED PARTY	 	FILE DATE	 	DESCRIPTION
	Ameristar Casino St.
Charles Inc

	 	MO SOS
	 	03/13/11
	 	Canon Financial Services

158 Gaither Drive #200

Mt Laurel, NJ 08054
	 	Initial

20080028043J

03/13/08
	 	E(C)
	Ameristar Casino St.
Charles, Inc.

	 	MO SOS
	 	03/13/11
	 	WMS Gaming, Inc.

800 S. Northpoint Blvd.

Waukegan, IL 60085
	 	Initial

20080097758H

09/08/08
	 	E(S)
	Ameristar Casino St.
Charles

	 	MO SOS
	 	03/13/11
	 	Bally Technologies, Inc.

6601 S. Bermuda 

Las Vegas, NV 89119
	 	Initial

20090098916F

10/09/09
	 	E(S)
	Ameristar Casino St.
Charles, Inc.

	 	MO SOS
	 	03/13/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

20090101892C

10/19/09
	 	E(S)
	Ameristar Casino St.
Charles, Inc.

	 	MO SOS
	 	03/13/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

20100001521C

01/06/10
	 	E(S)
	Ameristar Casino St.
Charles, Inc.

	 	MO SOS
	 	03/13/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

20100031292A

03/26/10
	 	E(S)
	Ameristar Casino St.
Charles

	 	MO SOS
	 	03/13/11
	 	Bally Technologies, Inc.

6601 S. Bermuda 

Las Vegas, NV 89119
	 	Initial

20100037683A

04/13/10
	 	E(S)
	Ameristar Casino St.
Charles

	 	MO SOS
	 	03/13/11
	 	Bally Technologies, Inc. 

6601 S. Bermuda 

Las Vegas, NV 89119
	 	Initial

20100043731B

04/28/10
	 	E(S)
	Ameristar Casino St.
Charles, Inc.

	 	MO SOS
	 	03/13/11
	 	Konami Gaming, Inc. 

585 Trade Center Drive 

Las Vegas, NV 89119
	 	Initial

20100064829C

06/22/10
	 	E(C)
	Ameristar Casino St.
Charles, Inc.

	 	MO SOS
	 	03/13/11
	 	Aristocrat Technologies, Inc.

7230 Amigo Street 

Las Vegas, NV 89119
	 	Initial

20100066694F

06/25/10
	 	E(S)
	Ameristar Casino St.
Charles, Inc.

	 	MO SOS
	 	03/13/11
	 	Aristocrat Technologies, Inc. 

7230 Amigo Street 

Las Vegas, NV 89119
	 	Initial

20100100811F

10/01/10
	 	E(S)
	Ameristar Casino St.
Charles

	 	MO SOS
	 	03/13/11
	 	Bally Technologies, Inc.

6601 S. Bermuda 

Las Vegas, NV 89119
	 	Initial

20100103588K

10/11/10
	 	E(S)
	Ameristar Casino St.
Charles, Inc.

	 	MO SOS
	 	03/13/11
	 	Konami Gaming, Inc.

585 Trade Center Drive 

Las Vegas, NV 89119
	 	Initial

20100105474F

10/15/10
	 	E(C)

5

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	JURISDICTION	 	SEARCH	 	 	 	FILE NO./	 	COLLATERAL
	DEBTOR(S)	 	SEARCHED	 	VALID THRU	 	SECURED PARTY	 	FILE DATE	 	DESCRIPTION
	Ameristar Casino St.
Charles, Inc.

	 	MO SOS
	 	03/13/11
	 	Bally Technologies, Inc.

6601 S. Bermuda

Las Vegas, NV 89119
	 	Initial

20100118429K

11/22/10
	 	E(S)
	Ameristar Casino St.
Charles Inc

	 	MO SOS
	 	03/13/11
	 	Bally Technologies, Inc.

6601 S. Bermuda 

Las Vegas, NV 89119
	 	Initial

20110001432F

01/15/11
	 	E(S)
	Ameristar Casino St.
Charles Inc

	 	MO SOS
	 	03/13/11
	 	Bally Technologies, Inc.

6601 S. Bermuda 

Las Vegas, NV 89119
	 	Initial

20110014655G

02/10/11
	 	E(S)
	Ameristar Casino Black
Hawk, Inc.

	 	CO SOS
	 	03/17/11
	 	WMS Gaming, Inc.

800 S. Northpoint Blvd. 

Waukegan, Illinois 60085
	 	Initial

2008F089081

09/05/08
	 	E(C)
	Ameristar Casino Black
Hawk, Inc.

	 	CO SOS
	 	03/17/11
	 	Aristocrat Technologies, Inc.

7230 Amigo Street 

Las Vegas, NV 89119
	 	Initial

2009F064424

07/28/09
	 	E(S)
	Ameristar Casino Black
Hawk, Inc.

	 	CO SOS
	 	03/17/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

2009F083719

10/02/09
	 	E(S)
	Ameristar Casino Black
Hawk, Inc.

	 	CO SOS
	 	03/17/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

2009F084950

10/08/09
	 	E(S)
	Ameristar Casino Black
Hawk, Inc.

	 	CO SOS
	 	03/17/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

2010F003402

01/12/10
	 	E(S)
	Ameristar Casino Black
Hawk, Inc.

	 	CO SOS
	 	03/17/11
	 	Aristocrat Technologies, Inc. 

7230 Amigo Street 

Las Vegas, NV 89119
	 	Initial

2010F041761

05/18/10
	 	E(S)
	Ameristar Casino Black
Hawk, Inc.

	 	CO SOS
	 	03/17/11
	 	Aristocrat Technologies, Inc.

7230 Amigo Street

Las Vegas, NV 89119
	 	Initial

2010F064052

08/24/10
	 	E(S)
	Ameristar Casino
Council Bluffs, Inc.

	 	IA SOS
	 	03/17/11
	 	Namco Cybertainment Inc. 

877 Supreme Drive

Bensenville, IL 90106
	 	Initial

P556028-3

07/16/07
	 	E(S)
	Ameristar Casino
Council Bluffs, Inc.

	 	IA SOS
	 	03/17/11
	 	Toshiba America Business
Solutions, Inc. 

1961 Hirst Drive 

Moberly, MO 65270
	 	Initial

X136822-5

08/07/08
	 	E(C)

6

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	JURISDICTION	 	SEARCH	 	 	 	FILE NO./	 	COLLATERAL
	DEBTOR(S)	 	SEARCHED	 	VALID THRU	 	SECURED PARTY	 	FILE DATE	 	DESCRIPTION
	Ameristar Casino
Council Bluffs, Inc.

	 	IA SOS
	 	03/17/11
	 	WMS Gaming, Inc. 

800 S. Northpoint Blvd. 

Waukegan, IL 60085
	 	Initial

X139301-3

09/05/08
	 	E(S)
	Ameristar Casino
Council Bluffs, Inc.

	 	IA SOS
	 	03/17/11
	 	Ainsworth Game Technology Limited 

6600 NW 12th Avenue

Suite 201

Ft. Lauderdale, FL 33309
	 	Initial

P584015-7

08/24/09
	 	O

Financed equipment
and proceeds —

fixtures and

proceeds

	Ameristar Casino
Council Bluffs, Inc.

	 	IA SOS
	 	03/17/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

X170854-0

09/14/09
	 	E(S)
	Ameristar Casino
Council Bluffs, Inc.

	 	IA SOS
	 	03/17/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

X173211-4

10/07/09
	 	E(S)
	Ameristar Casino
Council Bluffs, Inc.

	 	IA SOS
	 	03/17/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

X179942-3

12/28/09
	 	E(S)
	Ameristar Casino
Council Bluffs, Inc.

	 	IA SOS
	 	03/17/11
	 	Aristocrat Technologies, Inc. 

7230 Amigo Street 

Las Vegas, NV 89119
	 	Initial

X10012892-4

05-18-10
	 	E(S)
	Ameristar Casino
Council Bluffs, Inc.

	 	IA SOS
	 	03/17/11
	 	Konami Gaming, Inc.

585 Trade Center Drive 

Las Vegas, NV 8911i
	 	Initial

P10007162-5

08/24/10
	 	E(S)
	Ameristar Casino
Council Bluffs, Inc.

	 	IA SOS
	 	03/17/11
	 	Aristocrat Technologies, Inc.

7230 Amigo Street

Las Vegas, NV 89119
	 	Initial

X10023816-3

09/24/10
	 	E(S)
	Ameristar Casino
Council Bluffs, Inc.

	 	IA SOS
	 	03/17/11
	 	Bally Technologies, Inc. 

6601 S. Bermuda 

Las Vegas, NV 89119
	 	Initial

X11000478-1

01/05/11
	 	E(S)
	Ameristar Casino
Council Bluffs, Inc.

	 	IA SOS
	 	03/17/11
	 	Konami Gaming, Inc. 

585 Trade Center Drive 

Las Vegas, NV 8911i
	 	Initial

E11005444-4

01/24/11
	 	E(S)
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	WMS Gaming, Inc. 

800 S. Northpoint Blvd. 

Waukegan, IL 60085
	 	Initial

200900001972111

03/11/09
	 	E(S)
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	Aristocrat Technologies, Inc.

7230 Amigo Street 

Las Vegas, NV 89119
	 	Initial

200900004703823

06/05/09
	 	E(S)

7

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	JURISDICTION	 	SEARCH	 	 	 	FILE NO./	 	COLLATERAL
	DEBTOR(S)	 	SEARCHED	 	VALID THRU	 	SECURED PARTY	 	FILE DATE	 	DESCRIPTION
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

200900005074118

06/18/09
	 	E(S)
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	Konami Gaming, Inc.

585 Trade Center Drive

Las Vegas, NV 8911
	 	Initial

200900006845953

08/24/09
	 	E(S)
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	Ainsworth Game Technology
Limited 

6600 NW 12th
Avenue Suite 201

Ft. Lauderdale, FL 33309
	 	Initial

200900006880992

08/25/09
	 	O

Financed equipment

and proceeds —

fixtures and

proceeds
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

200900007095517

09/03/09
	 	E(S)
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

200900007372373

09/15/09
	 	E(S)
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

20100000169433

01/06/10
	 	E(S)
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	Bally Technologies, Inc.

6601 S. Bermuda 

Las Vegas, NV 89119
	 	Initial

201000003106992

04/13/10
	 	E(S)
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	Aristocrat Technologies, Inc. 

7230 Amigo Street 

Las Vegas, NV 89119
	 	Initial

201000005433058

06/28/10
	 	E(S)
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	Konami Gaming, Inc.

585 Trade Center Drive 

Las Vegas, NV 8911
	 	Initial

201000006599395

08/05/10
	 	E(S)
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	Aristocrat Technologies, Inc.

7230 Amigo Street 

Las Vegas, NV 89119
	 	Initial

201000007800280

09/15/10
	 	E(S)

8

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	JURISDICTION	 	SEARCH	 	 	 	FILE NO./	 	COLLATERAL
	DEBTOR(S)	 	SEARCHED	 	VALID THRU	 	SECURED PARTY	 	FILE DATE	 	DESCRIPTION
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	Konami Gaming, Inc.

585 Trade Center Drive 

Las Vegas, NV 8911
	 	Initial

201000008600471

10/12/10
	 	E(S)
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	Konami Gaming, Inc. 

585 Trade Center Drive 

Las Vegas, NV 8911
	 	Initial

201000008603090

10/12/10
	 	E(S)
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	Konami Gaming, Inc. 

585 Trade Center Drive

Las Vegas, NV 8911
	 	Initial

201000009067025

10/27/10
	 	E(S)
	Ameristar Casino East 

Chicago, LLC

	 	IN SOS
	 	03/13/11
	 	Konami Gaming, Inc.

585 Trade Center Drive 

Las Vegas, NV 8911
	 	Initial

201100002085615

03/11/11
	 	E(S)
	Ameristar Casino
Vicksburg, Inc.

	 	MS SOS
	 	3/16/11
	 	Canon Financial Services 

158 Gaither Drive #200

Mt. Laurel, NJ 08054
	 	Initial

20060181794K

08/16/06
	 	E(C)
	Ameristar Casino
Vicksburg, Inc.

	 	MS SOS
	 	3/16/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

20090170456F

08/19/09
	 	E(S)
	Ameristar Casino
Vicksburg, Inc.

	 	MS SOS
	 	3/16/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

200901698829H

08/19/09
	 	E(S)
	Ameristar Casino
Vicksburg, Inc.

	 	MS SOS
	 	3/16/11
	 	WMS Gaming, Inc. 

800 S. Northpoint Blvd. 

Waukegan, IL 60085
	 	Initial

20080191461C

09/08/07
	 	E(S)
	Ameristar Casino
Vicksburg, Inc.

	 	MS SOS
	 	3/16/11
	 	Canon Financial Services 

158 Gaither Drive #200

Mt. Laurel, NJ 08054
	 	Initial

20060192412J

08/30/06
	 	E(C)
	Ameristar Casino
Vicksburg, Inc.

	 	MS SOS
	 	3/16/11
	 	Aristocrat Technologies, Inc. 

7230 Amigo Street 

Las Vegas, NV 89119
	 	Initial

20100200078A

09/17/10
	 	E(S)
	Ameristar Casino
Vicksburg, Inc.

	 	MS SOS
	 	3/16/11
	 	Canon Financial Services 

158 Gaither Drive #200

Mt. Laurel, NJ 08054
	 	Initial

20060281267F

12/20/06
	 	E(C)
	Ameristar Casino
Vicksburg, Inc.

	 	MS SOS
	 	3/16/11
	 	IGT

9295 Prototype Drive

Reno, NV 89521
	 	Initial

20090267177B

12/22/09
	 	E(S)

9

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	JURISDICTION	 	SEARCH	 	 	 	FILE NO./	 	COLLATERAL
	DEBTOR(S)	 	SEARCHED	 	VALID THRU	 	SECURED PARTY	 	FILE DATE	 	DESCRIPTION
	Ameristar Casino
Vicksburg, Inc.

	 	MS SOS
	 	3/16/11
	 	Konami Gaming, Inc. 

585 Trade Center Drive 

Las Vegas, NV 8911
	 	Initial

20100228774A

10/28/10
	 	E(S)
	Ameristar Casino
Vicksburg, Inc.

	 	MS SOS
	 	3/16/11
	 	Konami Gaming, Inc.

585 Trade Center Drive 

Las Vegas, NV 8911
	 	Initial

20110337725A

03/11/11
	 	E(S)
	Ameristar Casino
Vicksburg, Inc.

	 	MS SOS
	 	3/16/11
	 	Aristocrat Technologies, Inc. 

7230 Amigo Street 

Las Vegas, NV 89119
	 	Initial

20100126978A

07/01/10
	 	E(S)

10

 

SCHEDULE 9.03(b)

Insurance Policy Endorsement

MORTGAGEHOLDERS

	 	1.	 	Mortgageholder includes trustee.
	 
	 	2.	 	We will pay for covered loss of or damage to buildings or structures to each
mortgageholder shown on the Declarations in their order of precedence, as interests may
appear.
	 
	 	3.	 	The mortgageholder has the right to receive loss payment even if the mortgageholder has
started foreclosure or similar action on the building or structure.
	 
	 	4.	 	If we deny your claim because of your acts or because you have failed to comply with
the terms of this Commercial Property Coverage Part, the mortgageholder will still have the
right to receive loss payment if the mortgageholder:

	 	a.	 	Pays the premium due under this Commercial Property Coverage Part at
our request if you have failed to do so;
	 
	 	b.	 	Submits a signed, sworn proof of loss within 60 days after receiving
notice from us of your failure to do so; and
	 
	 	c.	 	Has notified us of any change in ownership, occupancy, or substantial
change in risk known to the mortgageholder.

               All of the terms of this Commercial Property Coverage Part will then apply directly to the
mortgageholder.

	 	5.	 	If we pay the mortgageholder for any loss or damage and deny payment to you because of
your acts or because you have failed to comply with the terms of this Commercial Property
Coverage Part:

	 	a.	 	The mortgageholder’s rights under the mortgage will be transferred to
us to the extent of the amount we pay; and
	 
	 	b.	 	The mortgageholder’s right to recover the full amount of the
mortgageholder’s claim will not be impaired.

               At our option, we may pay to the mortgageholder the whole principal on the mortgage plus
any accrued interest. In this event, your mortgage and note will be transferred to us and you
will pay your remaining mortgage debt to us.

	 	6.	 	If we cancel the policy, we will give written notice to the mortgageholder at least:

	 	a.	 	10 days before the effective date of cancellation if we cancel for your
nonpayment of premium; or

 

 

	 	b.	 	30 days before the effective date of cancellation if we cancel for
any other reason.

	 	7.	 	If we elect not to renew the policy, we will give written notice to the mortgageholder
at least 10 days before the expiration date of this policy.

2

 

SCHEDULE 10.03

Restricted Payment Basket Amount

          “Restricted Payment Basket Amount” means, at the time of any Dividend or Investment,
the sum (x) $100,000,000 and (y) the sum, without duplication, of:

     (a) 50% of the cumulative Consolidated Net Income (or if cumulative Consolidated Net
Income shall be a loss, minus 100% of such loss) of the Borrower and its Subsidiaries during
the period (treating such period as a single accounting period) beginning on January 1, 2011
and ending on the last day of the most recent fiscal quarter of the Borrower ending
immediately prior to the date of the making of such Investment and/or Dividend for which
internal financial statements are available, plus

     (b) 100% of the fair market value of the aggregate net proceeds received by the
Borrower from any Person (other than from a Subsidiary of the Borrower) from the issuance
and sale of Qualified Capital Stock of the Borrower or the amount by which Indebtedness of
the Borrower or any Subsidiary is reduced by the conversion or exchange of debt securities
or Disqualified Capital Stock into or for Qualified Capital Stock of the Borrower (to the
extent that proceeds of the issuance of such Qualified Capital Stock would have been
includable in this clause if such Qualified Capital Stock had been initially issued for
cash) subsequent to the Initial Borrowing Date and on or prior to the date of the making of
such Dividend and/or Investment (excluding any Qualified Capital Stock of the Borrower the
purchase price of which has been financed directly or indirectly using funds (i) borrowed
from the Borrower or any Subsidiary, unless and until and to the extent such borrowing is
repaid, or (ii) contributed, extended, guaranteed or advanced by the Borrower or any
Subsidiary (including, without limitation, in respect of any employee stock ownership or
benefit plan)); provided that such aggregate net proceeds are limited to cash, Cash
Equivalents and other Productive Assets, plus

     (c) 100% of the aggregate cash received by the Borrower subsequent to the Initial
Borrowing Date and on or prior to the date of the making of such Investment and/or Dividend
upon the exercise of options or warrants (whether issued prior to or after the Initial
Borrowing Date) to purchase Qualified Capital Stock of the Borrower, plus

     (d) to the extent that any Investment made pursuant to Section 10.05(xvii) of the
Credit Agreement after the Initial Borrowing Date is sold for cash or Cash Equivalents or
otherwise liquidated or repaid for cash or Cash Equivalents, or any dividends,
distributions, interest payments, principal repayments or returns of capital are received by
the Company or any Subsidiary in respect of any such Investment, the proceeds of such sale,
liquidation, repayment, dividend, distribution, principal repayment or return of capital, in
each such case valued at the cash or fair market value of Cash Equivalents received with
respect to such Investment (less the cost of disposition, if any), and to the extent that
any such Investment consisting of a guaranty that was made after the Initial Borrowing Date
is terminated or cancelled, the excess, if any, of (x) the amount by which

 

 

such Investment reduced the Restricted Payment Basket Amount, over (y) the aggregate
amount of payments made (including costs incurred) in respect of such guaranty.

     Notwithstanding the foregoing, net proceeds received by the Borrower from the issuance and
sale of any Qualified Capital Stock which are applied in accordance with Section 10.05(xii) of the
Credit Agreement shall not be included under clauses (b) and (c) above.

          For the purpose of the definition of “Restricted Payment Basket Amount”:

          “Capital Stock” means (1) with respect to any Person that is a corporation, any and
all shares, rights, interests, participations or other equivalents (however designated and whether
or not voting) of corporate stock, including each class of common stock and preferred stock of such
Person, and (2) with respect to any Person that is not a corporation, any and all partnership,
membership or other equity interests of such Person.

          “Casino” means any gaming establishment and other property or assets directly
ancillary thereto or used in connection therewith, including any building, restaurant, hotel,
theater, parking facilities, retail shops, land, golf courses and other recreation and
entertainment facilities, marina, vessel, barge, ship and equipment.

          “Consolidated Net Income” means, with respect to any Person for any period, the
aggregate net income (or loss) of such Person and its Subsidiaries for such period on a
consolidated basis, determined in accordance with GAAP; provided, however, that there shall be
excluded therefrom:

     (1) net after-tax gains and losses from all sales or dispositions of assets outside
of the ordinary course of business,

     (2) any net after-tax effect of extraordinary or non-recurring income or gains or
losses, costs, charges or expenses, including from severance, relocation and
curtailments or modifications to pension and post-retirement employee benefit plans,

     (3) any after-tax effect of income (loss) from the early extinguishment, conversion
or cancellation of debt, Interest Swap Obligations, Hedging Obligations or other
derivative instruments,

     (4) any impairment charge or asset write-off, in each case pursuant to GAAP, and
the amortization of intangibles arising pursuant to GAAP,

     (5) the effect of marking to market Interest Swap Obligations and Hedging
Obligations permitted to be incurred by Section 10.04(ii) of the Credit Agreement,

     (6) the cumulative effect of a change in accounting principles,

     (7) any net income of any other Person if such other Person is not a Subsidiary and
is accounted for by the equity method of accounting, except that such Person’s equity in
the net income of any such other Person for such period shall be included in such
Consolidated Net Income up to the aggregate amount of cash

2

 

actually distributed by such other Person during such period to such Person or a
Subsidiary as a dividend or other distribution (subject, in case of a dividend or other
distribution to a Subsidiary, to the limitation that such amount so paid to a Subsidiary
shall be excluded to the extent that such amount could not at that time be paid to the
Borrower due to the restrictions set forth in clause (8) below),

     (8) any net income of any Subsidiary that is not a Guarantor if such Subsidiary is
subject to restrictions, directly or indirectly, by contract, operation of law, pursuant
to its charter or otherwise on the payment of dividends or the making of distributions
by such Subsidiary to such Person except that:

	 	(a)	 	such Person’s equity in the net income of any such Subsidiary
for such period shall be included in such Consolidated Net Income up to the
aggregate amount of cash (or other property actually converted into cash)
actually distributed or that could have been paid or distributed during such
period to such Person as a dividend or other distribution (whether or not due
to a waiver of such restriction), and
	 
	 	(b)	 	such Person’s equity in a net loss of any such Subsidiary for
such period shall be included in determining such Consolidated Net Income
regardless of any such restriction,

     (9) any restoration to income of any contingency reserve, except to the extent that
provision for such reserve was made out of Consolidated Net Income accrued at any time
following the Initial Borrowing Date,

     (10) income or loss attributable to discontinued operations (including, without
limitation, operations disposed of during such period whether or not such operations
were classified as discontinued),

     (11) in the case of a successor to such Person by consolidation or merger or as a
transferee of such Person’s assets, any net income or loss of the successor corporation
prior to such consolidation, merger or transfer of assets,

     (12) non-cash charges or expenses relating to compensation expense in connection
with benefits provided under employee stock option plans, restricted stock plans and
other equity compensation arrangements,

     (13) any net unrealized gains and losses resulting from Hedging Obligations and the
application of ASC Topic 815 will be excluded,

     (14) any expenses, charges or losses that are covered by indemnification or other
reimbursement provisions in connection with any Investment permitted under Section
10.05 of the Credit Agreement or any sale, conveyance, transfer or other disposition
of assets permitted under the Credit Agreement, to the extent actually reimbursed, or,
so long as the Borrower has made a determination that a reasonable basis exists for
indemnification or reimbursement and only to the extent that such amount is in fact
indemnified or reimbursed within 365 days of such determination

3

 

(with a deduction in the applicable future period for any amount so added back to
the extent not so indemnified or reimbursed within such 365 days),

     (15) to the extent covered by insurance and actually reimbursed, or, so long as the
Borrower has made a determination that there exists reasonable evidence that such amount
will in fact be reimbursed by the insurer and only to the extent that such amount is in
fact reimbursed within 365 days of the date of such determination (with a deduction in
the applicable future period for any amount so added back to the extent not so
reimbursed within such 365 days), expenses, charges or losses with respect to liability
or casualty events or business interruption, and

     (16) any fees, expenses, premiums and other charges in connection with the issuance
of the Senior Notes, the incurrence of the Loans and the issuance of Letters of Credit
under the Credit Agreement, the Stock Repurchase or any other issuance or repayment of
Indebtedness, issuance of Equity Interests, refinancing transaction, amendment or other
modification of any debt instrument, acquisition, investment or asset disposition.

          “Disqualified Capital Stock” means any Capital Stock which by its terms (or by the
terms of any security into which it is, by its terms, convertible or for which it is, by its terms,
exchangeable at the option of the holder thereof), or upon the happening of any specified event
(other than a Change of Control), is required to be redeemed or is redeemable (at the option of the
holder thereof) at any time prior to the latest Maturity Date at the time of determination or is
exchangeable at the sole option of the holder (except upon a Change of Control) thereof for
Indebtedness at any time prior to the latest Maturity Date at the time of detemination. The
“maximum fixed redemption or repurchase price” of any Disqualified Capital Stock that does not have
a fixed repurchase price shall be calculated in accordance with the terms of such Disqualified
Capital Stock as if such Disqualified Capital Stock were repurchased on the date on which such
“maximum fixed redemption or repurchase price” shall be required to be determined pursuant to the
Indenture, and if such price is based upon, or measured by, the fair market value of such
Disqualified Capital Stock, such fair market value shall be determined in good faith by the board
of directors of the issuing Person.

          “Hedging Obligations” means all obligations of the Credit Parties or any Subsidiary
that is not a Credit Party arising under or in connection with any rate or basis swap, forward
contract, commodity swap or option, equity or equity index swap or option, bond, note or bill
option, interest rate option, foreign currency exchange transaction, cross currency rate swap,
currency option, cap, collar or floor transaction, swap option, synthetic trust product, synthetic
lease or any similar transaction or agreement.

          “Interest Swap Obligations” means the net obligations of any Person under any interest
rate protection agreement, interest rate future, interest rate option, interest rate swap, interest
rate cap, collar or floor transaction or other interest rate Hedging Obligation.

          “Productive Assets” means assets (including assets owned directly or indirectly
through Capital Stock of a Subsidiary) of a kind used or usable in the businesses of the Credit
Parties as they are conducted on the determination date and any Related Business.

4

 

          “Qualified Capital Stock” means any Capital Stock that is not Disqualified Capital
Stock.

          “Related Business” means the gaming (including pari-mutuel betting) business and/or
any and all businesses that in the good faith judgment of the Borrower are reasonably related to,
necessary for, in support or anticipation of, ancillary or complementary to or in preparation for
(or required by a Gaming Authority to be developed, constructed, improved or acquired in connection
with the licensing approval of such Casino or Casinos) the gaming business including, without
limitation, the development, expansion or operation of any casino (including any land-based,
dockside, riverboat or other type of Casino), owned, or to be owned, by the Borrower or one of its
Subsidiaries

5

 

SCHEDULE 13.03

Lender Addresses

	 	 	 
	LENDERS	 	ADDRESSES
	Deutsche Bank Trust Company Americas
	 	60 Wall Street, New York, NY 10005

 

 

SCHEDULE 13.19

Required Post-Closing Actions

The Borrower and each Credit Party hereby covenants and agrees that (each of which shall constitute
a covenant for purposes of the Agreement):

	 	1.	 	as promptly as possible, but in any event no later than December 31, 2011 (subject to
extension by the Administrative Agent in its sole discretion),

	 	a.	 	the Borrower shall have obtained, or caused to have been obtained,
approval from the Nevada Gaming Authorities of (i) the pledge by the Borrower in
favor of the Collateral Agent of all of the Equity Interests in Cactus Pete’s,
Inc., a Nevada corporation (“CPI”), and (ii) any and all covenants
contained in the Agreement and other Credit Documents that constitute restrictions
on transfers of, and agreements not to encumber, the Equity Interests in CPI,
	 
	 	b.	 	the Borrower shall have satisfied all conditions and requirements of
Section 6.06 with respect to the Equity Interests in CPI, and
	 
	 	c.	 	the Administrative Agent shall have received all legal opinions that it
may reasonably request in connection with the foregoing, which legal opinions shall
be in form and substance reasonably acceptable to the Administrative Agent;

	 	2.	 	as promptly as possible, but in any event no later than May 31, 2011 (subject to
extension by the Administrative Agent in its sole discretion),

	 	a.	 	the Borrower shall have obtained, or caused to have been obtained,
approval from the Mississippi Gaming Authorities of (i) the pledge by the Borrower
in favor of the Collateral Agent of all of the Equity Interests in Ameristar Casino
Vicksburg, Inc., a Mississippi corporation (“ACV”), and (ii) any and all
covenants contained in the Agreement and other Credit Documents that constitute
restrictions on transfers of, and agreements not to encumber, the Equity Interests
in ACV,
	 
	 	b.	 	the Borrower shall have satisfied all conditions and requirements of
Section 6.06 with respect to the Equity Interests in ACV, and
	 
	 	c.	 	the Administrative Agent shall have received all legal opinions that it
may reasonably request in connection with the foregoing, which legal opinions shall
be in form and substance reasonably acceptable to the Administrative Agent;

	 	3.	 	as promptly as possible, but in any event no later than June 30, 2011 (subject to
extension by the Administrative Agent in its sole discretion),

	 	a.	 	the Borrower shall have obtained, or caused to have been obtained,
approval from the Iowa Gaming Authorities of (i) the pledge by the Borrower in
favor of the Collateral Agent of all of the Equity Interests in Ameristar Casino
Council Bluffs, Inc, an Iowa corporation (“ACCB”), (ii) any and all
provisions and covenants

 

 

	 	 	 	contained in the Agreement and the other Credit Documents that constitute
restrictions on transfers of, and agreements not to encumber, the Equity Interests
in ACCB and (iii) any and all provisions contained in the Agreement and other Credit
Documents that impose restrictions and obligations on the activities of ACCB,
including the Subsidiary Guaranty of ACCB,

	 	b.	 	the Borrower shall have satisfied all conditions and requirements of
Sections 6.06 through 6.10 with respect to ACCB, and
	 
	 	c.	 	the Administrative Agent shall have received all legal opinions that it
may reasonably request in connection with the foregoing, which legal opinions shall
be in form and substance reasonably acceptable to the Administrative Agent.

	 	4.	 	as promptly as possible, but in any event no later than June 30, 2011 (subject to
extension by the Administrative Agent in its sole discretion),

	 	a.	 	the Borrower shall have obtained, or caused to have been obtained,
approval from the Missouri Gaming Authorities of (i) the pledge by the Borrower in
favor of the Collateral Agent of all of the Equity Interests in Ameristar Casino
St. Charles, Inc, a Missouri corporation (“ACSC”), and in Ameristar Casino
Kansas City, Inc., a Missouri corporation (“ACKC”), (ii) any and all
provisions and covenants contained in the Agreement and the other Credit Documents
that constitute restrictions on transfers of, and agreements not to encumber, the
Equity Interests in ACSC and ACKC, and (iii) the grant of security interests in
slot machines and similar gaming devices by ACSC and ACKC in favor of the
Collateral Agent pursuant to the Security Agreement,
	 
	 	b.	 	(i) the Borrower shall have satisfied all conditions and requirements
of Section 6.06 with respect to the Equity Interests in ACSC and ACKC and
(ii) ACSC and ACKC shall have satisfied all conditions and requirements of
Section 6.07, and
	 
	 	c.	 	the Administrative Agent shall have received all legal opinions that it
may reasonably request in connection with the foregoing, which legal opinions shall
be in form and substance reasonably acceptable to the Administrative Agent;

	 	5.	 	as promptly as possible after the surrender and termination of the existing mortgage on
the “Ameristar” located in Vicksburg, but in any event no later than 30 Business Days
following the Effective Date (subject to extension by the Administrative Agent in its sole
discretion), the Borrower shall surrender the “Certificate of Documentation” with respect
to the “Ameristar”; and
	 
	 	6.	 	as promptly as possible, but in any event no later than July 15, 2011 (subject to
extension by the Administrative Agent in its sole discretion),

	 	a.	 	the Borrower shall have satisfied all conditions and requirements of
Sections 6.08(c) and 6.08(d),

 

 

	 	b.	 	the Borrower shall have used commercially reasonable efforts to obtain
or cause to have been obtained, consents and estoppels with respect to certain
Mortgaged Properties, in form and substance reasonably acceptable to the
Administrative Agent, from (i) City of East Chicago, Indiana, Department of
Redevelopment, (ii) Birmingham Drainage District, (iii) Port Authority of Kansas
City, Missouri and (iv) Missouri Department of Natural Resources, and
	 
	 	c.	 	the Borrower shall have used commercially reasonable efforts to obtain
or cause to have been obtained, subordination, nondisturbance and attornment
agreements from tenants, as the Administrative Agent may reasonably request.

	 	7.	 	as promptly as possible, but in any event no later than May 31, 2011 (subject to
extension by the Administrative Agent in its sole discretion), the Borrower shall have
delivered to the Administrative Agent, that certain promissory note from St. Charles
Riverfront Transportation Development District in favor of Ameristar Casino St. Charles,
Inc.exv10w1

Exhibit 10.1

REGISTRATION RIGHTS AGREEMENT

REGISTERED EXCHANGE OFFER

AMERISTAR CASINOS, INC.

 

 

$800,000,000 7.50% Senior Notes due 2021

REGISTRATION RIGHTS AGREEMENT

April 14, 2011

Wells Fargo Securities, LLC

Deutsche Bank Securities Inc.

Merrill Lynch, Pierce, Fenner & Smith Incorporated

J.P. Morgan Securities LLC

Credit Agricole Securities (USA) Inc.

As Representatives of the Initial Purchasers

c/o Wells Fargo Securities, LLC

301 South College Street, 6th Floor

Charlotte, NC 28202

Ladies and Gentlemen:

          Ameristar Casinos, Inc., a Nevada corporation (the “Issuer”) proposes to issue and
sell to the initial purchasers (the “Initial Purchasers”), for whom Wells Fargo Securities,
LLC, Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan
Securities LLC and Credit Agricole Securities (USA) Inc. are acting as representatives (the
“Representatives”), $800,000,000 aggregate principal amount of its 7.50% Senior Notes due
2021 (the “Notes”) upon the terms set forth in the purchase agreement among the Issuer, the
Guarantors named therein and the Initial Purchasers, dated March 31, 2011 (the “Purchase
Agreement”), relating to the initial placement (the “Initial Placement”) of the Notes.
As of the date hereof, the Issuer’s obligations under the Notes will be guaranteed (the
“Guarantees”) by each of the guarantors listed on the signature pages to the Purchase
Agreement (collectively, the “Guarantors”). References herein to the “Securities”
refer to the Notes and the Guarantees, collectively. To induce the Initial Purchasers to enter
into the Purchase Agreement and to satisfy a condition to your obligations thereunder, the Issuer
and the Guarantors jointly and severally agree with you, as the Representatives, for their benefit
and the benefit of the holders from time to time of the Securities and the New Securities
(including the Initial Purchasers) (each a “Holder” and, collectively, the
“Holders”), as follows:

          1. Definitions. Capitalized terms used herein without definition shall have their
respective meanings set forth in the Purchase Agreement. As used in this Agreement, the following
terms shall have the following meanings:

2

 

     “Act” shall mean the Securities Act of 1933, as amended, and the rules and
regulations of the Commission promulgated thereunder.

     “Affiliate” shall have the meaning specified in Rule 405 under the Act and the
term “controlling” shall have a meaning correlative thereto.

     “Agreement” shall mean this Registration Rights Agreement, as the same may be
amended from time to time in accordance with the terms hereof.

     “Broker-Dealer” shall mean any broker or dealer registered as such under the
Exchange Act.

     “Business Day” shall mean a day other than a Saturday, a Sunday or a legal
holiday or day on which commercial banking institutions or trust companies are authorized
or required by law to close in New York City.

     “Closing Date” shall mean the date of the first issuance of the Securities.

     “Commission” shall mean the Securities and Exchange Commission.

     “Deferral Period” shall have the meaning set forth in Section 4(k)(ii) hereof.

     “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and
the rules and regulations of the Commission promulgated thereunder.

     “Exchange Offer Registration Period” shall mean the period of 180 days
following the consummation of the Registered Exchange Offer, exclusive of any period during
which any stop order shall be in effect suspending the effectiveness of the Exchange Offer
Registration Statement.

     “Exchange Offer Registration Statement” shall mean a registration statement of
the Issuer and the Guarantors on an appropriate form under the Act with respect to the
Registered Exchange Offer, all amendments and supplements to such registration statement,
including post-effective amendments thereto, in each case including the Prospectus contained
therein, all exhibits thereto and all material incorporated by reference therein.

     “Exchanging Dealer” shall mean any Holder (which may include any Initial
Purchaser) that is a Broker-Dealer and elects to exchange for New Securities any Securities
that it acquired for its own account as a result of market-making activities or other
trading activities (but not directly from the Issuer or any Affiliate of the Issuer) for New
Securities.

3

 

     “Final Memorandum” shall mean the final offering memorandum, dated March 31,
2011, relating to the Securities, and including any and all exhibits thereto and any
information incorporated by reference therein as of such date.

     “FINRA Rules” shall mean the Conduct Rules and the By-laws of the Financial
Industry Regulatory Authority.

     “Guarantee” shall have the meaning set forth in the preamble hereto.

     “Guarantors” shall have the meaning set forth in the preamble hereto.

     “Holder” shall have the meaning set forth in the preamble hereto.

     “Indenture” shall mean that certain Indenture, dated as of April 14, 2011,
among the Issuer, the Guarantors and Wilmington Trust FSB, as trustee, as the same may be
amended from time to time in accordance with the terms thereof.

     “Initial Placement” shall have the meaning set forth in the preamble hereto.

     “Initial Purchaser” shall have the meaning set forth in the preamble hereto.

     “Losses” shall have the meaning set forth in Section 6(d) hereof.

     “Majority Holders” shall mean, on any date, Holders of a majority of the
aggregate principal amount of Securities and New Securities registered under a Registration
Statement.

     “Managing Underwriter” shall mean the investment banker or investment bankers
and manager or managers who administer an underwritten offering, if any, under a
Registration Statement.

     “New Securities” shall mean debt securities of the Issuer and Guarantees by the
Guarantors, in each case identical in all material respects to the Securities (except that
the transfer restrictions shall be modified or eliminated, as appropriate, and there will be
no provision relating to Registration Default Damages) to be issued under the New Securities
Indenture.

     “New Securities Indenture” shall mean the Indenture or an indenture among the
Issuer, the Guarantors and the New Securities Trustee, identical in all material respects to
the Indenture (except that (i) the New Securities shall contain no restrictive legend
thereon nor provision relating to Registration Default Damages, (ii) interest thereon shall
accrue from the last date on which interest was paid on such Notes or, if no such interest
has been paid, from the Closing Date and (iii) the New Securities shall be entitled to the
benefits of the Indenture or a trust indenture which is identical in all material respects
to the Indenture (other than such changes to the Indenture or any

4

 

such identical trust indenture as are necessary to comply with the Trust Indenture Act)
and which, in either case, has been qualified under the Trust Indenture Act), which may be
the Indenture if in the terms thereof appropriate provision is made for the New Securities.

     “New Securities Trustee” shall mean the Trustee or a bank or trust company
selected by the Issuer and reasonably satisfactory to the Initial Purchasers, as trustee
with respect to the New Securities under the New Securities Indenture.

     “Notes” shall have the meaning set forth in the preamble hereto.

     “Prospectus” shall mean the prospectus included in any Registration Statement
(including, without limitation, a prospectus that discloses information previously omitted
from a prospectus filed as part of an effective registration statement in reliance upon Rule
430A under the Act), as amended or supplemented by any prospectus supplement, with respect
to the terms of the offering of any portion of the Securities or the New Securities covered
by such Registration Statement, and all amendments and supplements thereto, including any
and all exhibits thereto and any information incorporated by reference therein.

     “Purchase Agreement” shall have the meaning set forth in the preamble hereto.

     “Registered Exchange Offer” shall mean the proposed offer of the Issuer and the
Guarantors to issue and deliver to the Holders of Registrable Securities that are not
prohibited by any law or policy of the Commission from participating in such offer, in
exchange for the Securities, a like aggregate principal amount of the New Securities in
accordance with Section 2 hereof.

     “Registrable Securities” shall mean the Securities; provided, however, that the
Securities shall cease to be Registrable Securities (i) when, in the case of a Holder of
such Securities who was entitled to participate in the Registered Exchange Offer, an
Exchange Offer Registration Statement with respect to such Securities shall have been
declared effective under the Act and either (a) such Securities shall have been exchanged
pursuant to the Registered Exchange Offer for New Securities or (b) such Securities were not
tendered by the Holder thereof in the Registered Exchange Offer, (ii) when a Shelf
Registration Statement with respect to such Securities shall have been declared effective
under the Act or shall have become automatically effective in accordance with the rules and
regulations of the Commission and such Securities shall have been disposed of pursuant to
such Shelf Registration Statement, (iii) when such Securities have been sold to the public
pursuant to Rule 144 (or any similar provision then in force, but not Rule 144(A) under the
Act, (iv) when such Securities shall have ceased to be outstanding or (v) on the date that
is two years after the date of this Agreement.

5

 

     “Registration Default Damages” shall have the meaning set forth in Section 8
hereof.

     “Registration Statement” shall mean any Exchange Offer Registration Statement
or Shelf Registration Statement that covers any of the Securities or the New Securities
pursuant to the provisions of this Agreement, any amendments and supplements to such
registration statement, including post-effective amendments (in each case including the
Prospectus contained therein), all exhibits thereto and all material incorporated by
reference therein.

     “Securities” shall have the meaning set forth in the preamble hereto.

     “Shelf Registration” shall mean a registration effected pursuant to Section 3
hereof.

     “Shelf Registration Period” shall have the meaning set forth in Section
3(b)(ii) hereof.

     “Shelf Registration Statement” shall mean a “shelf” registration statement of
the Issuer and the Guarantors pursuant to the provisions of Section 3 hereof that covers at
effectiveness some or all of the Registrable Securities (other than Registrable Securities
the Holders of which have not complied with their obligations under Section 4(o) hereof or
have elected not, or are otherwise not entitled, to have their Registrable Securities
included in the Shelf Registration Statement) on an appropriate form under Rule 415 under
the Act, or any similar rule that may be adopted by the Commission, amendments and
supplements to such registration statement, including post-effective amendments, in each
case including the Prospectus contained therein, all exhibits thereto and all material
incorporated by reference therein.

     “Trustee” shall mean the trustee from time to time with respect to the
Securities under the Indenture.

     “Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended,
and the rules and regulations of the Commission promulgated thereunder.

     “underwriter” shall mean any underwriter of Securities in connection with an
offering thereof under a Shelf Registration Statement.

          2. Registered Exchange Offer. (a) The Issuer and the Guarantors shall prepare and
use their reasonable best efforts to file with the Commission and cause to become effective the
Exchange Offer Registration Statement with respect to the Registered Exchange Offer. The Issuer
and the Guarantors shall use their reasonable best efforts to cause the Registered Exchange Offer
to be completed under the Act within 270 days of the Closing Date.

6

 

          (b) Upon the effectiveness of the Exchange Offer Registration Statement, the Issuer and the
Guarantors shall promptly commence the Registered Exchange Offer, it being the objective of such
Registered Exchange Offer to enable each Holder electing to exchange Registrable Securities for New
Securities (assuming that such Holder (i) is not an Affiliate of the Issuer, (ii) acquires the New
Securities in the ordinary course of such Holder’s business, (iii) has no arrangements or
understandings with any person to participate in the distribution of the New Securities, (iv) is
not prohibited by any law or policy of the Commission from participating in the Registered Exchange
Offer and (v) is not an Initial Purchaser holding Securities that have the status of an unsold
allotment remaining from the initial distribution of the Securities) to trade such New Securities
from and after their receipt without any limitations or restrictions under the Act and without
material restrictions under the securities laws of a substantial proportion of the several states
of the United States.

          (c) In connection with the Registered Exchange Offer, the Issuer and the Guarantors shall:

     (i) mail or cause to be mailed to each Holder a copy of the Prospectus forming part of
the Exchange Offer Registration Statement, together with an appropriate letter of
transmittal and related documents;

     (ii) keep the Registered Exchange Offer open for at least 20 Business Days (or longer
if required by applicable law) after the date notice thereof is mailed to the Holders;

     (iii) use their reasonable best efforts to keep the Exchange Offer Registration
Statement continuously effective under the Act, supplemented and amended as required under
the Act, to ensure that it is available for sales of New Securities by Exchanging Dealers
during the Exchange Offer Registration Period;

     (iv) utilize the services of a depositary for the Registered Exchange Offer with an
address in Wilmington which may be the entity serving as Trustee, the New Securities Trustee
or an Affiliate of either of them;

     (v) permit Holders to withdraw tendered Securities at any time prior to the close of
business, New York time, on the last Business Day on which the Registered Exchange Offer is
open;

     (vi) prior to effectiveness of the Exchange Offer Registration Statement, provide, or
cause to be provided, a supplemental letter to the Commission (A) stating that the Issuer
and the Guarantors are conducting the Registered Exchange Offer in reliance on the position
of the Commission in Exxon Capital Holdings Corporation (pub. avail. May 13, 1988)
and Morgan Stanley and Co., Inc. (pub. avail. June 5, 1991) and (B) including a
representation that the Issuer and the Guarantors have not entered into any arrangement or
understanding with any person to distribute the New

7

 

Securities to be received in the Registered Exchange Offer and that, to the best of the
Issuer’s information and belief, each Holder participating in the Registered Exchange Offer
is acquiring the New Securities in the ordinary course of business and has no arrangement or
understanding with any person to participate in the distribution of the New Securities; and

     (vii) comply in all material respects with all laws applicable to the Registered
Exchange Offer.

          (d) As soon as practicable after the close of the Registered Exchange Offer, the Issuer and
the Guarantors shall:

     (i) accept for exchange all Registrable Securities tendered and not validly withdrawn
pursuant to the Registered Exchange Offer;

     (ii) deliver, or cause to be delivered, to the Trustee for cancellation in accordance
with Section 4(r) hereof all Securities so accepted for exchange; and

     (iii) cause the New Securities Trustee promptly to authenticate and deliver to each
Holder of Registrable Securities that have been accepted for exchange in the Registered
Exchange Offer a principal amount of New Securities equal to the principal amount of the
Registrable Securities of such Holder so accepted for exchange; provided, however, that, in
the case of any Registrable Securities held in global form by a depositary, authentication
and delivery by such depositary of one or more New Securities in global form in an
equivalent principal amount thereto for the account of such Holders in accordance with the
Indenture shall satisfy such authentication and delivery requirement.

          (e) Each Holder hereby acknowledges and agrees that any Broker-Dealer and any such Holder
using the Registered Exchange Offer to participate in a distribution of the New Securities (x)
could not under Commission policy as in effect on the date of this Agreement rely on the position
of the Commission in Exxon Capital Holdings Corporation (pub. avail. May 13, 1988) and
Morgan Stanley and Co., Inc. (pub. avail. June 5, 1991), as interpreted in the Commission’s
letter to Shearman & Sterling dated July 2, 1993 and similar no-action letters and (y) must comply
with the registration and prospectus delivery requirements of the Act in connection with any
secondary resale transaction, which must be covered by an effective registration statement
containing the selling security holder information required by Item 507 or 508, as applicable, of
Regulation S-K under the Act if the resales are of New Securities obtained by such Holder in
exchange for Securities acquired by such Holder directly from the Issuer or any Affiliate of the
Issuer. Accordingly, each Holder participating in the Registered Exchange Offer shall be required
to represent to the Issuer that, at the time of the consummation of the Registered Exchange Offer:

8

 

     (i) any New Securities received by such Holder are being acquired in the ordinary
course of such Holder’s business;

     (ii) such Holder has no arrangement or understanding with any person to participate in
the distribution within the meaning of the Act of the Securities or the New Securities;

     (iii)
such Holder is not an Affiliate of the Issuer or any Guarantor or, if
it is an Affiliate of the Issuer, it will comply with the registration and prospectus
delivery requirements of the Act to the extent applicable and will provide information to be
included in the Shelf Registration Statement in accordance with Section 4 hereof in order to
have its Securities included in the Shelf Registration Statement and benefit from the
provisions regarding Registration Default Damages in Section 8 hereof;

     (iv) if such Holder is an Exchanging Dealer, then such Holder will comply with the
applicable provisions of the Act (including the prospectus delivery requirements
thereunder); and

     (v) such Holder has full power and authority to transfer the Registrable Securities in
exchange for the New Securities.

          (f) If any Initial Purchaser determines that it is not eligible to participate in the
Registered Exchange Offer with respect to the exchange of Securities constituting any portion of an
unsold allotment, at the request of such Initial Purchaser, the Issuer and the Guarantors shall
issue and deliver to such Initial Purchaser or the person purchasing New Securities registered
under a Shelf Registration Statement as contemplated by Section 3 hereof from such Initial
Purchasers, in exchange for such Securities, a like principal amount of New Securities. The Issuer
and the Guarantors shall use their commercially reasonable efforts to cause the CUSIP Service
Bureau to issue the same CUSIP number and International Securities Identification Number
(“ISIN”) for such New Securities as for New Securities issued pursuant to the Registered
Exchange Offer.

          (g) The Registered Exchange Offer shall not be subject to any conditions, other than (i) that
the Registered Exchange Offer does not violate applicable law or any applicable interpretation of
the Commission, (ii) that no action or proceeding shall have been instituted or threatened in any
court or by any governmental agency with respect to the Registered Exchange Offer and no material
adverse development shall have occurred with respect to the Issuer, (iii) that all governmental
approvals shall have been obtained that the Issuer deems necessary for the consummation of the
Registered Exchange Offer, (iv) that the conditions precedent to the Issuer’s obligations under
this Agreement shall have been fulfilled and (v) such other conditions as shall be deemed necessary
or appropriate by the Issuer in its reasonable judgment.

9

 

          3. Shelf Registration. (a) If (i) due to any change in law or applicable
interpretations thereof by the Commission’s staff, the Issuer and the Guarantors determine that
they are not permitted to effect the Registered Exchange Offer as contemplated by Section 2 hereof;
(ii) for any other reason the Registered Exchange Offer is not consummated within 270 days of the
Closing Date; (iii) any Initial Purchaser so requests with respect to Securities that are not
eligible to be exchanged for New Securities in the Registered Exchange Offer and that are held by
them following consummation of the Registered Exchange Offer; (iv) any Holder (other than an
Initial Purchaser) is not eligible to participate in the Registered Exchange Offer; or (v) in the
case of the Initial Purchasers that participate in the Registered Exchange Offer or acquires New
Securities pursuant to Section 2(f) hereof, an Initial Purchaser does not receive freely tradeable
New Securities in exchange for Securities constituting any portion of an unsold allotment (it being
understood that (x) the requirement that an Initial Purchaser deliver a Prospectus containing the
information required by Item 507 or 508 of Regulation S-K under the Act in connection with sales of
New Securities acquired in exchange for such Securities shall result in such New Securities being
not “freely tradeable;” and (y) the requirement that an Exchanging Dealer deliver a Prospectus in
connection with sales of New Securities acquired in the Registered Exchange Offer in exchange for
Securities acquired as a result of market-making activities or other trading activities shall not
result in such New Securities being not “freely tradeable”), the Issuer and the Guarantors shall
file and use their reasonable best efforts to cause to become and keep effective a Shelf
Registration Statement in accordance with subsection (b) below.

          (b) (i) The Issuer and the Guarantors shall, if required by subsection (a) above, as promptly
as practicable use their reasonable best efforts to file with the Commission and shall use their
reasonable best efforts to cause to be declared effective under the Act within 330 days of the
Closing Date, a Shelf Registration Statement relating to the offer and sale of the Securities or
the New Securities, as applicable, by the Holders thereof from time to time in accordance with the
methods of distribution elected by such Holders and set forth in such Shelf Registration Statement;
provided, however, that no Holder (other than an Initial Purchaser) shall be
entitled to have the Securities held by it covered by such Shelf Registration Statement unless such
Holder agrees in writing to be bound by all of the provisions of this Agreement applicable to such
Holder; and provided further, that with respect to New Securities received by an
Initial Purchaser in exchange for Securities constituting any portion of an unsold allotment, the
Issuer and the Guarantors may, if permitted by current interpretations by the Commission’s staff,
file a post-effective amendment to the Exchange Offer Registration Statement containing the
information required by Item 507 or 508 of Regulation S-K, as applicable, in satisfaction of their
obligations under this subsection with respect thereto, and any such Exchange Offer Registration
Statement, as so amended, shall be referred to herein as, and governed by the provisions herein
applicable to, a Shelf Registration Statement.

          (ii) The Issuer and the Guarantors shall use their reasonable best efforts to keep the Shelf
Registration Statement continuously effective, supplemented and amended as required by the Act, in
order to permit the Prospectus forming part thereof to be usable by

10

 

Holders for a period from the date the Shelf Registration Statement is declared effective by
the Commission until the earliest of: (A) the second anniversary of the Closing Date or (B) the
date upon which all the Securities or New Securities, as applicable, covered by the Shelf
Registration Statement have been sold pursuant to the Shelf Registration Statement (in any such
case, the “Shelf Registration Period”). The Issuer and the Guarantors shall be deemed not
to have used their reasonable best efforts to keep the Shelf Registration Statement effective
during the Shelf Registration Period if they voluntarily take any action that would result in
Holders of Securities covered thereby not being able to offer and sell such Securities at any time
during the Shelf Registration Period, unless such action is (x) required by applicable law or
otherwise taken by the Issuer and the Guarantors for valid business reasons (not including
avoidance of the Issuer’s and the Guarantors’ obligations hereunder), including the acquisition or
divestiture of assets and (y) permitted pursuant to Section 4(k)(ii) hereof.

          4. Additional Registration Procedures. In connection with any Shelf Registration
Statement and, to the extent applicable, any Exchange Offer Registration Statement, the following
provisions shall apply.

          (a) The Issuer and the Guarantors shall:

     (i) furnish to counsel designated by the Majority Holders, not less than two
(2) Business Days prior to the filing thereof with the Commission, a copy of any
Exchange Offer Registration Statement and any Shelf Registration Statement, and each
amendment thereof and each amendment or supplement, if any, to the Prospectus
included therein (including all documents incorporated by reference therein after
the initial filing) and shall use their commercially reasonable efforts to reflect
in each such document, when so filed with the Commission, such comments as counsel
designated by the Majority Holders reasonably proposes;

     (ii) include the information substantially in the form set forth in Annex A
hereto on the facing page of the Exchange Offer Registration Statement, in Annex B
hereto in the forepart of the Exchange Offer Registration Statement in a section
setting forth details of the Exchange Offer, in Annex C hereto in the underwriting
or plan of distribution section of the Prospectus contained in the Exchange Offer
Registration Statement and in Annex D hereto in the letter of transmittal delivered
pursuant to the Registered Exchange Offer;

     (iii) if requested by an Initial Purchaser, include the information required by
Item 507 or 508, as applicable, of Regulation S-K in the Prospectus contained in the
Exchange Offer Registration Statement or Shelf Registration Statement;
provided, however, that such Initial Purchaser shall have complied
with subsection (o) hereof; and

11

 

     (iv) in the case of a Shelf Registration Statement, include the names of the
Holders that propose to sell Securities pursuant to the Shelf Registration Statement
as selling security holders; provided, however, that such Holders
shall have complied with subsection (o) hereof.

     (b) The Issuer and the Guarantors shall ensure that:

     (i) any Registration Statement and any amendment thereto and any Prospectus
forming part thereof and any amendment or supplement thereto as of the effective
date of such Registration Statement or such amendment or supplement complies in all
material respects with the Act; and

     (ii) any Registration Statement and any amendment thereto and any Prospectus
forming part thereof and any amendment or supplement thereto as of the effective
date of such Registration Statement or such amendment or supplement does not, when
it becomes effective, contain an untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary to make the
statements therein not misleading.

     (c) The Issuer and the Guarantors shall advise counsel for the Initial Purchasers, the
Holders of Securities covered by any Shelf Registration Statement and any Exchanging Dealer
under any Exchange Offer Registration Statement that has provided in writing to the Issuer
or the Guarantors a telephone or facsimile number and address for notices, and, if requested
by any Initial Purchaser or any such Holder or Exchanging Dealer, shall confirm such advice
in writing (which notice pursuant to clauses (ii)-(v) hereof shall be accompanied by an
instruction to suspend the use of the Prospectus until the Issuer and the Guarantors shall
have remedied the basis for such suspension):

     (i) when a Registration Statement and any amendment thereto has been filed with
the Commission and when the Registration Statement or any post-effective amendment
thereto has become effective;

     (ii) of any request by the Commission after the effective date for any
amendment or supplement to the Registration Statement or the Prospectus;

     (iii) of the issuance by the Commission of any stop order suspending the
effectiveness of the Registration Statement or the institution of any proceeding for
that purpose;

     (iv) of the receipt by the Issuer or any Guarantor of any notification with
respect to the suspension of the qualification of the securities included therein
for sale in any jurisdiction or the institution of any proceeding for such purpose;
and

12

 

     (v) during the period in which an applicable Registration Statement is
effective, of the happening of any event that requires any change in the
Registration Statement or the Prospectus so that, as of such date, they (A) do not
contain any untrue statement of a material fact and (B) do not omit to state a
material fact required to be stated therein or necessary to make the statements
therein (in the case of the Prospectus, in the light of the circumstances under
which they were made) not misleading.

     (d) The Issuer and the Guarantors shall use their commercially reasonable efforts to
obtain the withdrawal of any order suspending the effectiveness of any Registration
Statement or the qualification of the securities therein for sale in any jurisdiction.

     (e) The Issuer and the Guarantors shall furnish to each Holder of Securities covered by
any Shelf Registration Statement, without charge, at least one (1) copy of such Shelf
Registration Statement and any post-effective amendment thereto, including, if requested,
all material incorporated therein by reference, and, if the Holder so requests in writing,
all exhibits thereto (including exhibits incorporated by reference therein).

     (f) The Issuer and the Guarantors shall, during the Shelf Registration Period, deliver
to each Holder of Securities covered by any Shelf Registration Statement, without charge, as
many copies of the Prospectus (including the Preliminary Prospectus) included in such Shelf
Registration Statement and any amendment or supplement thereto as such Holder may reasonably
request. The Issuer and the Guarantors consent to the use of the Prospectus or any
amendment or supplement thereto by each of the selling Holders of Securities in connection
with the offering and sale of the Securities covered by the Prospectus, or any amendment or
supplement thereto, included in the Shelf Registration Statement.

     (g) The Issuer and the Guarantors shall furnish to each Exchanging Dealer which so
requests, without charge, at least one (1) conformed copy of the Exchange Offer Registration
Statement and any post-effective amendments thereto, including, if requested, all material
incorporated by reference therein, and, if the Exchanging Dealer so requests in writing, all
exhibits thereto (including exhibits incorporated by reference therein).

     (h) The Issuer and the Guarantors shall promptly deliver to each Initial Purchaser,
each Exchanging Dealer and each other person required under applicable law to deliver a
Prospectus during the Exchange Offer Registration Period, without charge, as many copies of
the Prospectus included in such Exchange Offer Registration Statement and any amendments or
supplements thereto as any such person may reasonably request. The Issuer and the
Guarantors consent to the use of the Prospectus or any amendments or supplements thereto by
any Initial Purchaser, any Exchanging

13

 

Dealer and any such other person that may be required to deliver a Prospectus following
the Registered Exchange Offer in connection with the offering and sale of the New Securities
covered by the Prospectus, or any amendment or supplement thereto, included in the Exchange
Offer Registration Statement.

     (i) Prior to the Registered Exchange Offer or any other offering of Securities pursuant
to any Registration Statement, the Issuer and the Guarantors shall arrange, if necessary,
for the registration or qualification of the Securities or the New Securities for sale under
the laws of such jurisdictions as any Holder shall reasonably request and shall maintain
such qualification in effect so long as required; provided that in no event shall
the Issuer or any Guarantor be obligated to qualify to do business in any jurisdiction where
it is not then so qualified or to take any action that would subject it to service of
process in suits, in any such jurisdiction where it is not then so subject or to subject
itself to taxation in any such jurisdiction.

     (j) The Issuer and the Guarantors shall cooperate with the Holders of Securities to
facilitate the timely preparation and delivery of certificates representing New Securities
or Securities to be issued or sold pursuant to any Registration Statement free of any
restrictive legends and in such denominations (consistent with the provisions of the
Indenture) and registered in such names as Holders may reasonably request in writing at
least three (3) Business Days prior to the closing date of any sales of Securities.

     (k) (i) Upon the occurrence of any event contemplated by subsections (c) (ii) through
(v) above, the Issuer and the Guarantors shall promptly (or within the time period provided
for by clause (ii) hereof, if applicable) prepare a post-effective amendment to the
applicable Registration Statement or an amendment or supplement to the related Prospectus or
file any other required document so that, as thereafter delivered to the Holders of the
Securities included therein, the Prospectus shall not include an untrue statement of a
material fact or omit to state any material fact required to be stated therein or necessary
to make the statements therein, in the light of the circumstances under which they were
made, not misleading. In such circumstances, the period of effectiveness of the Exchange
Offer Registration Statement provided for in Section 2 hereof shall be extended by the
number of days from and including the date of the giving of a notice of suspension pursuant
to Section 4(c) hereof to and including the date when the Initial Purchasers, the Holders of
the Securities and any known Exchanging Dealer shall have received such amended or
supplemented Prospectus pursuant to this Section 4(k).

     (ii) Upon the occurrence or existence of any pending corporate development or any other
material event that, in the reasonable judgment of the Issuer and the Guarantors, makes it
appropriate to suspend the availability of a Shelf Registration Statement and the related
Prospectus, the Issuer and the Guarantors shall give notice

14

 

(without notice of the nature or details of such events) to the Holders that the
availability of the Shelf Registration is suspended and, upon actual receipt of any such
notice, each Holder agrees to maintain the information contained in such notice confidential
(except that such information may be disclosed to its counsel) until it has been publicly
disclosed by the Issuer and not to sell any Registrable Securities pursuant to the Shelf
Registration until such Holder’s receipt of copies of the supplemented or amended Prospectus
provided for in Section 4(a)(i) hereof, or until it is advised in writing by the Issuer and
the Guarantors that the Prospectus may be used, and has received copies of any additional or
supplemental filings that are incorporated or deemed incorporated by reference in such
Prospectus. Notwithstanding the foregoing, the Issuer shall not be required to amend or
supplement a Registration Statement, any related Prospectus or any document incorporated or
deemed to be incorporated therein by reference if (i) an event occurs and is continuing as a
result of which the Shelf Registration, any related Prospectus or any document incorporated
or deemed to be incorporated therein by reference, would, in the Issuer’s good faith
judgment, contain an untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements therein not misleading (with respect to such a
Prospectus only, in the light of the circumstances under which they were made), and (ii) (a)
the Issuer determines in its good faith judgment that the disclosure of such event at such
time would have a material adverse effect on the business, operations or prospects of the
Issuer, or (b) the disclosure otherwise relates to a pending material business transaction
that has not yet been publicly disclosed. The period during which the availability of the
Shelf Registration and any Prospectus is suspended (the “Deferral Period”) (1) shall
not exceed 60 consecutive days, (2) shall not occur more than three (3) times during any
calendar year and (3) shall extend the number of days the Shelf Registration or any
Prospectus is available by an amount equal to the Deferral Period. Any Registration Default
Damages payable pursuant to Section 8(a)(iii) shall cease to accrue during any Deferral
Period.

     (l) Not later than the effective date of any Registration Statement, the Issuer and the
Guarantors shall provide a CUSIP number and ISIN for the Securities or the New Securities,
as the case may be, registered under such Registration Statement, and provide the Trustee
with printed certificates for such Securities or New Securities, in a form eligible for
deposit with The Depository Trust Company.

     (m) The Issuer and the Guarantors shall comply in all material respects with all
applicable rules and regulations of the Commission and shall make generally available to
their security holders earning statements satisfying the provisions of Section 11(a) of the
Act as soon as practicable after the effective date of the applicable Registration
Statement.

     (n) The Issuer and the Guarantors shall cause the New Securities Indenture to be
qualified under the Trust Indenture Act as required by applicable law in a timely manner.

15

 

     (o) The Issuer and the Guarantors may require each Holder of Securities to be sold
pursuant to any Shelf Registration Statement to furnish to the Issuer and the Guarantors
such information regarding the Holder and the distribution of such Securities as the Issuer
and the Guarantors may from time to time reasonably require for inclusion in such
Registration Statement. The Issuer and the Guarantors may exclude from such Shelf
Registration Statement the Securities of any Holder that fails to furnish such information
within 15 days after receiving such request.

     (p) In the case of any Shelf Registration Statement, upon the request of the Majority
Holders, the Issuer and the Guarantors shall enter into customary agreements (including, if
requested, one underwriting agreement in customary form) and take all other appropriate
actions, if any, as the Majority Holders shall reasonably request in order to expedite or
facilitate the registration or the disposition of the Securities, and in connection
therewith, if an underwriting agreement is entered into, cause the same to contain
indemnification provisions and procedures no less favorable than those set forth in Section
6 hereof (or such other provisions and procedures acceptable to the Majority Holders
participating in such underwritten offering).

     (q) In the case of an underwritten offering pursuant to a Shelf Registration Statement
as provided in subsection (p) above, the Issuer and the Guarantors shall:

     (i) make reasonably available for inspection at a location where they are
normally kept and during normal business hours by a representative designated by the
Majority Holders of Securities to be registered thereunder, any underwriter
participating in any disposition pursuant to such Registration Statement and any
attorney, accountant or other agent retained by such Holders or any such underwriter
all relevant financial and other records and pertinent corporate documents of the
Issuer, the Guarantors and their respective subsidiaries that is reasonably
necessary to enable them to exercise any applicable due diligence responsibilities;

     (ii) use their commercially reasonable efforts to cause their officers,
directors, employees, accountants and auditors to supply all relevant information
reasonably requested by the Holders or any such underwriter, attorney, accountant or
agent (each, an “Inspector”) in connection with any such Registration
Statement as is customary for similar due diligence examinations; provided,
however, that such Inspector shall first agree in writing with the Issuer
and the Guarantors that any information that is reasonably and in good faith
designated by the Issuer and the Guarantors in writing as confidential at the time
of delivery of such information shall be kept confidential by such Inspector, unless
(1) disclosure of such information is required by court or administrative order
pursuant to a subpoena or other administrative order, (2) disclosure of such
information is required by law (including any disclosure requirements pursuant to
federal securities laws in connection with the filing of

16

 

such Registration Statement or the use of any Prospectus), (3) such information
becomes generally available to the public other than as a result of a disclosure or
failure to safeguard such information by such person or (4) such information becomes
available to such Inspector from a source other than the Issuer or the Guarantors
and such source is not known, after due inquiry, by the relevant Holder to be bound
by a confidentiality agreement or is not otherwise under a duty of trust to the
Issuer or the Guarantors;

     (iii) to the extent possible, make such representations and warranties to the
underwriters, if any, in form, substance and scope as are customarily made by
issuers to underwriters in primary underwritten offerings;

     (iv) obtain opinions of counsel to the Issuer and updates thereof (which
counsel and opinions (in form, scope and substance) shall be reasonably satisfactory
to the Managing Underwriter, if any) addressed to each underwriter, if any, of such
Registrable Securities covering such matters as are customarily covered in opinions
requested in primary underwritten offerings and such other matters as may be
reasonably requested by such underwriters;

     (v) obtain “comfort” letters and updates thereof from the independent
registered public accounting firm of the Issuer (and, if necessary, any other
independent registered public accounting firm of any subsidiary of the Issuer or of
any business acquired by the Issuer for which financial statements and financial
data are, or are required to be, included in the Registration Statement), addressed
to each underwriter, if any, of such Registrable Securities in customary form and
covering matters of the type customarily covered in “comfort” letters in connection
with primary underwritten offerings;

     (vi) deliver such documents and certificates as may be reasonably requested by
the Managing Underwriter, if any, including those to evidence compliance with
Section 4(k) hereof and with any customary conditions contained in the underwriting
agreement or other agreement entered into by the Issuer or the Guarantors; and

     (vii) cooperate with each seller of Registrable Securities covered by any Shelf
Registration Statement and each underwriter, if any, participating in the
disposition of such Registrable Securities and their respective counsel in
connection with any filings required to be made pursuant to the FINRA Rules;

     (r) If a Registered Exchange Offer is to be consummated, upon delivery of the
Securities by Holders to the Issuer (or to such other person as directed by the Issuer) in
exchange for the New Securities, the Issuer shall mark, or caused to be marked, on the
Securities so exchanged that such Securities are being cancelled in exchange for

17

 

the New Securities. In no event shall the Securities be marked as paid or otherwise
satisfied.

     (s) The Issuer and the Guarantors shall use their commercially reasonable efforts to
take all other steps necessary to effect the registration of the Securities or the New
Securities, as the case may be, covered by a Registration Statement.

          If any such Registration Statement refers to any Holder by name or otherwise as the holder of
any securities of the Issuer, then such Holder shall have the right to require (i) the insertion
therein of language, in form and substance reasonably satisfactory to such Holder, to the effect
that the holding by such Holder of such securities is not to be construed as a recommendation by
such Holder of the investment quality of the securities covered thereby and that such holding does
not imply that such Holder will assist in meeting any future financial requirements of the Issuer,
or (ii) in the event that such reference to such Holder by name or otherwise is not required by the
Act or any similar federal statute then in force, the deletion of the reference to such Holder in
any amendment or supplement to the Registration Statement filed or prepared subsequent to the time
that such reference ceases to be required.

          5. Registration Expenses. The Issuer and the Guarantors shall bear all expenses
incurred in connection with the performance of their obligations under Sections 2, 3 and 4 hereof
and, in the event of any Shelf Registration Statement, shall reimburse the Holders for the
reasonable fees and disbursements of one firm or counsel (which shall initially be Cahill Gordon &
Reindel llp, but which may be another nationally recognized law firm experienced in
securities matters designated by the Majority Holders) to act as counsel for the Holders in
connection therewith, which counsel shall be approved by the Issuer (such approval not to be
unreasonably withheld). Each Holder shall pay all expenses of its counsel other than as set forth
in the preceding sentence, underwriting discounts and commissions and transfer taxes, if any,
relating to the sale or disposition of such Holder’s Securities or New Securities.

          6. Indemnification and Contribution. (a) The Issuer and the Guarantors, jointly and
severally, agree to indemnify and hold harmless each Holder of Securities or New Securities, as the
case may be, covered by any Registration Statement, each Initial Purchaser and each Affiliate
thereof and, with respect to any Prospectus delivery as contemplated in Section 4(h) hereof, each
Exchanging Dealer, the directors, officers and Affiliates of each such Holder, Initial Purchaser or
Exchanging Dealer and each person who controls any such Holder, Initial Purchaser or Exchanging
Dealer within the meaning of either the Act or the Exchange Act against any and all losses, claims,
damages or liabilities, joint or several, to which they or any of them may become subject under the
Act, the Exchange Act or other federal or state statutory law or regulation, at common law or
otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof)
arise out of or are based upon any untrue statement or alleged untrue statement of a material fact
contained in any Registration Statement as originally filed or in any amendment thereof, or in any
preliminary Prospectus or

18

 

the Prospectus, or in any amendment thereof or supplement thereto, or arise out of or are
based upon the omission or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein (in the case of any preliminary Prospectus or
the Prospectus, in the light of the circumstances under which they were made) not misleading, and
agree (subject to the limitations set forth in subsection (c) hereof and in the proviso to this
sentence) to reimburse each such indemnified party, as incurred, for any legal or other expenses
reasonably incurred by them in connection with investigating or defending any such loss, claim,
damage, liability or action; provided, however, that the Issuer shall not be liable
in any such case to the extent that any such loss, claim, damage or liability arises out of or is
based upon any such untrue statement or alleged untrue statement or omission or alleged omission
made therein in reliance upon and in conformity with written information furnished to the Issuer by
or on behalf of the party claiming indemnification specifically for inclusion therein. This
indemnity agreement shall be in addition to any liability that the Issuer and the Guarantors may
otherwise have. The Issuer and the Guarantors shall not be liable under this Section 6 to any
indemnified party regarding any settlement or compromise or consent to the entry of any judgment
with respect to any pending or threatened claim, action, suit or proceeding in respect of which
indemnification or contribution may be sought hereunder (whether or not the indemnified parties are
actual or potential parties to such claim or action) unless such settlement, compromise or consent
is consented to by the Issuer or the Guarantors, as applicable, which consent shall not be
unreasonably withheld.

          (b) Each Holder of securities covered by a Registration Statement (including each Initial
Purchaser that is a Holder, in such capacity) severally and not jointly agrees to indemnify and
hold harmless the Issuer and the Guarantors and each of their respective directors, each of their
respective officers who signs such Registration Statement and each person who controls the Issuer
or any Guarantor within the meaning of either the Act or the Exchange Act, to the same extent as
the foregoing indemnity from the Issuer and the Guarantors to each such Holder, but only with
reference to written information relating to such Holder furnished to the Issuer and the Guarantors
by or on behalf of such Holder specifically for inclusion in the documents referred to in the
foregoing indemnity. This indemnity agreement shall be in addition to any liability that any such
Holder may otherwise have.

          (c) Promptly after receipt by an indemnified party under this Section 6 of notice of the
commencement of any action, such indemnified party will, if a claim in respect thereof is to be
made against the indemnifying party under this Section 6, notify the indemnifying party in writing
of the commencement thereof; but the failure to so notify the indemnifying party (i) shall not
relieve it from liability under paragraph (a) or (b) of this Section 6 unless and to the extent it
did not otherwise learn of such action and such failure results in the forfeiture by the
indemnifying party of substantial rights and defenses and (ii) will not, in any event, relieve the
indemnifying party from any obligations to any indemnified party other than the indemnification
obligation provided in paragraph (a) or (b) of this Section 6, except as provided in paragraph (d)
below. The indemnifying party shall be entitled to appoint counsel (including local counsel) of
the indemnifying party’s choice at the indemnifying party’s ex-

19

 

pense to represent the indemnified party in any action for which indemnification is sought (in
which case the indemnifying party shall not thereafter be responsible for the fees and expenses of
any separate counsel, other than local counsel if not appointed by the indemnifying party, retained
by the indemnified party or parties except as set forth below); provided, however,
that such counsel shall be reasonably satisfactory to the indemnified party. Notwithstanding the
indemnifying party’s election to appoint counsel (including local counsel) to represent the
indemnified party in an action, the indemnified party shall have the right to employ separate
counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs
and expenses of such separate counsel if (i) the use of counsel chosen by the indemnifying party to
represent the indemnified party would present such counsel with a material conflict of interest
(based on the advice of counsel to the indemnified party), (ii) the indemnifying party shall not
have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified
party within a reasonable time after notice of the institution of such action or (iii) the
indemnifying party shall authorize the indemnified party to employ separate counsel at the expense
of the indemnifying party. It is understood and agreed that the indemnifying party shall not, in
connection with any proceeding or related proceeding in the same jurisdiction, be liable for the
reasonable fees and expenses of more than one separate firm (in addition to any local counsel) for
all indemnified parties. Any such separate firm for any Initial Purchaser, its Affiliates,
directors and officers and any control persons of such Initial Purchaser shall be designated in
writing by Wells Fargo Securities, LLC (“WFS”), and any such separate firm for the Issuer
or any of the Guarantors, and any control persons of the Issuer or any of the Guarantors shall be
designated in writing by the Issuer or such Guarantor, as the case may be. In the event that any
Initial Purchaser, its Affiliates, directors and officers or any control persons of such Initial
Purchaser are indemnified parties collectively entitled, in connection with a proceeding in a
single jurisdiction, to the payment of fees and expenses of a single separate firm under this
Section 6(c), and any such Initial Purchaser, its Affiliates, directors and officers or any control
persons of such Initial Purchaser cannot agree to a mutually acceptable separate firm to act as
counsel thereto, then such separate firm for all such indemnified parties shall be designated in
writing by WFS. An indemnifying party shall not, without the prior written consent of the
indemnified parties, settle or compromise or consent to the entry of any judgment with respect to
any pending or threatened claim, action, suit or proceeding in respect of which indemnification or
contribution may be sought hereunder (whether or not the indemnified parties are actual or
potential parties to such claim or action) unless such settlement, compromise or consent includes
an unconditional release of each indemnified party from all liability arising out of such claim,
action, suit or proceeding and does not include any statement as to, or any concession of, fault,
culpability or failure to act by or on behalf of any indemnified party.

          (d) In the event that the indemnity provided in paragraph (a) or (b) of this Section 6 is
unavailable to or insufficient to hold harmless an indemnified party in the respect of any
aggregate losses, claims, damages and liabilities (including, subject to the limitations of
subsection (c), legal or other expenses reasonably incurred in connection with investigating or
defending any loss, claim, liability, damage or action) (collectively “Losses”)
(other than

20

 

by virtue of the failure of an indemnified party to notify the indemnifying party of its right
to indemnification pursuant to paragraph (a) or (b) of this Section 6, where such failure
materially prejudices the indemnifying party (through the forfeiture of substantial rights or
defenses)), each indemnifying party, in order to provide for just and equitable contribution, shall
contribute to the amount paid or payable by such indemnified party as a result of such Losses, in
such proportion as is appropriate to reflect the relative benefits received by such indemnifying
party, on the one hand, and such indemnified party, on the other hand, from the Initial Placement
and the Registration Statement which resulted in such Losses; provided, however,
that in no case shall any Initial Purchaser be responsible, in the aggregate, for any amount in
excess of the purchase discount or commission applicable to such Security, or in the case of a New
Security, applicable to the Security that was exchangeable into such New Security, as set forth in
the Purchase Agreement, nor shall any underwriter be responsible for any amount in excess of the
underwriting discount or commission applicable to the securities purchased by such underwriter
under the Registration Statement which resulted in such Losses. If the allocation provided by the
immediately preceding sentence is unavailable for any reason or not permitted by applicable law,
the indemnifying party and the indemnified party shall contribute in such proportion as is
appropriate to reflect not only such relative benefits but also the relative fault of such
indemnifying party, on the one hand, and such indemnified party, on the other hand, in connection
with the statements or omissions which resulted in such Losses as well as any other relevant
equitable considerations. Benefits received by the Issuer and the Guarantors shall be deemed to be
equal to the total net proceeds from the Initial Placement (before deducting expenses) as set forth
in the Final Memorandums. Benefits received by the Initial Purchasers shall be deemed to be equal
to the total purchase discounts and commissions as set forth in the Purchase Agreement, and
benefits received by any other Holders shall be deemed to be equal to the value of receiving
Securities or New Securities, as applicable, registered under the Act. Benefits received by any
underwriter shall be deemed to be equal to the total underwriting discounts and commissions, as set
forth on the cover page of the Prospectus forming a part of the Registration Statement which
resulted in such Losses. Relative fault shall be determined by reference to, among other things,
whether any untrue or any alleged untrue statement of a material fact or omission or alleged
omission to state a material fact relates to information provided by the indemnifying party, on the
one hand, or by the indemnified party, on the other hand, the intent of the parties and their
relative knowledge, access to information and opportunity to correct or prevent such untrue
statement or omission and any other equitable considerations appropriate in the circumstances. The
parties agree that it would not be just and equitable if the amount of such contribution were
determined by pro rata allocation (even if the Holders were treated as one entity
for such purpose) or any other method of allocation which does not take account of the equitable
considerations referred to above. Notwithstanding the provisions of this paragraph 6(d), no person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be
entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.
For purposes of this Section 6(d), each person, if any, who controls a Holder within the meaning of
either the Act or the Exchange Act and each director and officer of such Holder shall
have the same
rights to contribution as such Holder, and each person who controls the Issuer or any

21

 

Guarantor within the meaning of either the Act or the Exchange Act, each officer of any Issuer
who shall have signed the Registration Statement and each director of the Issuer shall have the
same rights to contribution as the Issuer, subject in each case to the applicable terms and
conditions of this paragraph 6(d).

          (e) The provisions of this Section 6 shall remain in full force and effect, regardless of any
investigation made by or on behalf of any Holder or the Issuer or any of the indemnified parties
referred to in this Section 6, and shall survive the sale by a Holder of securities covered by a
Registration Statement.

          7. Underwritten Registrations. (a) If any of the Securities or New Securities, as
the case may be, covered by any Shelf Registration Statement are to be sold in an underwritten
offering, the Managing Underwriters, if any, shall be selected by the Majority Holders, subject to
the consent of the Issuer (which shall not be unreasonably withheld), and the Holders of Securities
or New Securities covered by such Shelf Registration Statement shall be responsible for all
underwriting commissions and discounts.

          (b) No person may participate in any underwritten offering pursuant to any Shelf Registration
Statement, unless such person (i) agrees to sell such person’s Securities or New Securities, as the
case may be, on the basis reasonably provided in any underwriting arrangements approved by the
persons entitled hereunder to approve such arrangements and (ii) completes and executes all
questionnaires, powers of attorney, indemnities, underwriting agreements and other documents
reasonably required under the terms of such underwriting arrangements.

          8. Registration Defaults. (a) If any of the following events shall occur, then the
Issuer and the Guarantors shall pay liquidated damages (the “Registration Default Damages”)
to the Holders of Securities in respect of the Securities as follows:

     (i) if neither (x) the Registered Exchange Offer is completed within 270 days of the
Closing Date, nor (y) if required, the Shelf Registration Statement is declared effective
within 330 days of the Closing Date, then Registration Default Damages shall accrue on the
Registrable Securities at a rate of 0.25% per annum on the principal amount of such
Registrable Securities for the first 90 days from and including such specified date and
increasing by an additional 0.25% per annum at the beginning of each subsequent 90-day
period thereafter; provided that Registration Default Damages in the aggregate under
this Section 8 may not exceed 1.0% per annum of the principal amount of such Registrable
Securities; or

     (ii) notwithstanding that the Issuer and the Guarantors have consummated or will
consummate a Registered Exchange Offer, if the Issuer and the Guarantors are required to
file a Shelf Registration Statement and such Shelf Registration Statement is not declared
effective on or prior to the 330th day following the Closing Date, then Registration Default
Damages shall accrue on the Registrable Securities at a rate of

22

 

	 	 	0.25% per annum of the principal amount of such Registrable Securities for the first
90 days from and including such specified date and increasing by an additional 0.25% per
annum at the beginning of each subsequent 90-day period thereafter; provided that
Registration Default Damages in the aggregate under this Section 8 may not exceed 1.0% per
annum of the principal amount of such Registrable Securities; or

     (iii) subject to the last sentence of Section 4(k)(ii) above, if the Shelf Registration
Statement required by Section 3(a) of this Agreement has been declared effective but
thereafter ceases to be effective at any time at which it is required to be effective under
this Agreement and such failure to remain effective exists for more than 30 consecutive days
or more than 60 days (whether or not consecutive) during the period for which the Shelf
Registration Statement is required, then commencing on the 31st day or
61st day, as applicable, following the date on which such Shelf Registration
Statement ceases to be effective, Registration Default Damages shall accrue on the
Registrable Securities at a rate of 0.25% per annum of the principal amount of such
Registrable Securities for the first 90 days from and including such 31st day or 61st day,
as applicable, following the date on which such Shelf Registration Statement ceases to be
effective and increasing by an additional 0.25% per annum at the beginning of each
subsequent 90-day period thereafter; provided that Registration Default Damages in
the aggregate under this Section 8 may not exceed 1.0% per annum of the principal amount of
such Registrable Securities;

provided, however, that upon (1) the completion of the Exchange Offer (in the case
of paragraph (i) above), (2) the effectiveness of the Shelf Registration Statement (in the case of
paragraph (ii) above) and (3) the effectiveness of the Shelf Registration Statement which had
ceased to remain effective (in the case of paragraph (iii) above), Registration Default Damages
shall cease to accrue.

          (b) The Issuer and the Guarantors shall notify the Trustee within one Business Day after each
and every date on which an event occurs in respect of which Registration Default Damages are
required to be paid and within one Business Day after such Registration Default Damages cease to
accrue. Any amounts of Registration Default Damages due pursuant to Section 8(a) will be payable
in cash on each interest payment date specified by the Indenture to the record holder entitled to
receive the interest payment to be made on such date, commencing with the first such date occurring
after any such Registration Default Damages commences to accrue.

          (c) The parties hereto agree that the liquidated damages in the form of Registration Default
Damages provided for in this Section 8 constitute a reasonable estimate of and are intended to
constitute the sole damages payable under this Agreement that will be suffered by Holders of
Securities by reason of the failure of (i) the Registered Exchange Offer to be completed; or (ii)
the Shelf Registration Statement, if required hereby, to be declared or to be kept effective, in
each case to the extent required by this Agreement.

23

 

          9. No Inconsistent Agreements. The Issuer has not, nor has any Guarantor, entered
into, and each of the Issuer and the Guarantors agrees not to enter into, any agreement with
respect to its securities that is inconsistent with the rights granted to the Holders herein or
that otherwise conflicts with the provisions hereof.

          10. Amendments and Waivers. The provisions of this Agreement may not be amended,
qualified, modified or supplemented, and waivers or consents to departures from the provisions
hereof may not be given, unless the Issuer has obtained the written consent of the Holders of a
majority of the aggregate principal amount of the Registrable Securities outstanding;
provided, that no amendment, qualification, supplement, waiver or consent with
respect to Section 8 hereof shall be effective as against any Holder of Registered Securities
unless consented to in writing by such Holder; and provided, further, that the
provisions of this Article 10 may not be amended, qualified, modified or supplemented, and waivers
or consents to departures from the provisions hereof may not be given, unless the Issuer and the
Guarantors have obtained the written consent of the Initial Purchasers and each Holder.
Notwithstanding the foregoing (except the foregoing provisos), a waiver or consent to depart
from the provisions hereof with respect to a matter that relates exclusively to the rights of
Holders whose Securities or New Securities, as the case may be, are being sold pursuant to a
Registration Statement and that does not directly or indirectly affect the rights of other Holders
may be given by the Majority Holders, determined on the basis of Securities or New Securities, as
the case may be, being sold rather than registered under such Registration Statement.

          11. Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery, first-class mail, telex, telecopier or air courier
guaranteeing overnight delivery:

     (a) if to a Holder, at the most current address given by such Holder to the Issuer in
accordance with the provisions of this Section 11, which address initially is, with respect
to each Holder, the address of such Holder maintained by the Registrar (as such term is
defined in the Indenture) under the Indenture;

     (b) if to the Initial Purchasers, initially at the address or addresses set forth in
the Purchase Agreement; and

     (c) if to the Issuer or any Guarantor, initially at its address set forth in the
Purchase Agreement.

          All such notices and communications shall be deemed to have been duly given when received.

          The Initial Purchasers or the Issuer by notice to the other parties may designate additional
or different addresses for subsequent notices or communications.

24

 

          12. Remedies. Each of the Issuer and the Guarantors hereby agrees that monetary
damages would not be adequate compensation for any loss incurred by reason of a breach by it of the
provisions of this Agreement and hereby agree to waive the defense in any action for specific
performance that a remedy at law would be adequate.

          13. Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the parties hereto, their respective successors and assigns, including, without the
need for an express assignment or any consent by the Issuer thereto, subsequent Holders of
Securities and the New Securities, and the indemnified parties referred to in Section 6 hereof.
The Issuer and the Guarantors hereby agree to extend the benefits of this Agreement to any Holder
of Securities and the New Securities, and any such Holder may specifically enforce the provisions
of this Agreement as if an original party hereto.

          14. Counterparts. This Agreement may be signed in any number of counterparts which
may be delivered in original form or by telecopier, each of which when so executed shall constitute
an original and all of which together shall constitute one and the same agreement.

          15. Headings. The section headings used herein are for convenience only and shall not
affect the construction hereof.

          16. Applicable Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of New York applicable to contracts made and to be performed in the
State of New York. The parties hereto each hereby waive any right to trial by jury in any action,
proceeding or counterclaim arising out of or relating to this Agreement.

          17. Severability. In the event that any one or more of the provisions contained
herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable
in any respect for any reason, the validity, legality and enforceability of any such provision in
every other respect and of the remaining provisions hereof shall not be in any way impaired or
affected thereby, it being intended that all of the rights and privileges of the parties shall be
enforceable to the fullest extent permitted by law.

          18. Securities Held by Issuer, etc. Whenever the consent or approval of Holders of a
specified percentage of principal amount of Securities or New Securities is required hereunder,
Securities or New Securities, as applicable, held by the Issuer or any Guarantor or their
Affiliates (other than Holders of Securities or New Securities if such Holders are deemed to be
Affiliates solely by reason of their holdings of such Securities or New Securities) shall not be
counted in determining whether such consent or approval was given by the Holders of such required
percentage.

[Signature pages follow.]

25

 

          If the foregoing is in accordance with your understanding of our agreement, please sign and
return to us the enclosed duplicate hereof, whereupon this letter and your acceptance shall
represent a binding agreement by and among the Issuer and the Guarantors and the several Initial
Purchasers.

	 	 	 	 	 
	 	Very truly yours,

AMERISTAR CASINOS, INC.

 	 
	 	By:  	/s/ Peter C. Walsh
 	 
	 	 	Name:  	Peter C. Walsh 	 
	 	 	Title:  	Senior Vice President and

General Counsel 	 
	 

Signature Page to Registration Rights Agreement

 

 

CACTUS PETE’S, INC.

AMERISTAR CASINO VICKSBURG, INC.

AMERISTAR CASINO COUNCIL BLUFFS, INC.

AMERISTAR CASINO LAS VEGAS, INC.

A.C. FOOD SERVICES, INC.

AMERISTAR CASINO ST. LOUIS, INC.

AMERISTAR CASINO KANSAS CITY, INC.

AMERISTAR CASINO ST. CHARLES, INC.

AMERISTAR CASINO BLACK HAWK, INC.

AMERISTAR EAST CHICAGO HOLDINGS, LLC

AMERISTAR CASINO EAST CHICAGO, LLC

	 	 	 	 	 
	 	 	 
	 	By:  	                       /s/ Peter C. Walsh
 	 
	 	 	Name:  	Peter C. Walsh 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Registration Rights Agreement

 

 

The foregoing Agreement is hereby

confirmed and accepted as of the

date first above written:

WELLS FARGO SECURITIES, LLC

for itself and as representative of the

several Initial Purchasers

	 	 	 	 	 
	By:  	/s/ Whitney Wall
 	 	 
	 	Name:  	Whitney Wall 	 	 
	 	Title:  	Director 	 	 
	 

DEUTSCHE BANK SECURITIES INC.

for itself and as representative of the

several Initial Purchasers

	 	 	 	 	 
	By:  	/s/ Reza Akhavi
 	 	 
	 	Name:  	Reza Akhavi 	 	 
	 	Title:  	Managing Director 	 	 
	 
	By:  	                     /s/ A. Drew Goldman
 	 	 
	 	Name:  	A. Drew Goldman 	 	 
	 	Title:  	Managing Director 	 	 
	 

MERRILL LYNCH, PIERCE, FENNER &

SMITH INCORPORATED

for itself and as representative of the several

Initial Purchasers

	 	 	 	 	 
	By:  	/s/ Michael Grimes
 	 	 
	 	Name:  	Michael Grimes 	 	 
	 	Title:  	Director 	 	 
	 
	J.P. MORGAN SECURITIES LLC

for itself and as representative of the

several Initial Purchasers

 	 	 
	By:  	/s/ Jack D. Smith
 	 	 
	 	Name:  	Jack D. Smith 	 	 
	 	Title:  	Executive Director 	 	 
	 

Signature Page to Registration Rights Agreement

 

 

CREDIT AGRICOLE SECURITIES (USA) INC.

for itself and as representative of the several

Initial Purchasers

	 	 	 	 	 
	By:  	/s/ Paul A. Brown
 	 	 
	 	Name:  	Paul A. Brown 	 	 
	 	Title:  	Managing Director 	 	 
	 

Signature Page to Registration Rights Agreement

 

 

ANNEX A

          Each broker-dealer that receives New Securities for its own account pursuant to the Exchange
Offer must acknowledge that it shall deliver a prospectus in connection with any resale of such New
Securities. The Letter of Transmittal states that by so acknowledging and by delivering a
Prospectus, a broker-dealer shall not be deemed to admit that it is an “underwriter” within the
meaning of the Act. This Prospectus, as it may be amended or supplemented from time to time, may
be used by a broker-dealer in connection with resales of New Securities received in exchange for
Securities where such Securities were acquired by such broker-dealer as a result of market-making
activities or other trading activities. The Issuer and the Guarantors have agreed that, for a
period of 180 days after consummation of the Registered Exchange Offer, they shall make this
Prospectus available to any broker-dealer for use in connection with any such resale. See “Plan of
Distribution.”

A-1

 

ANNEX B

          Each broker-dealer that receives New Securities for its own account in exchange for
Securities, where such Securities were acquired by such broker-dealer as a result of market-making
activities or other trading activities, must acknowledge that it shall deliver a Prospectus in
connection with any resale of such New Securities. See “Plan of Distribution.”

B-1

 

ANNEX C

PLAN OF DISTRIBUTION

          Each broker-dealer that receives New Securities for its own account pursuant to the Registered
Exchange Offer must acknowledge that it will deliver a Prospectus in connection with any resale of
such New Securities. This Prospectus, as it may be amended or supplemented from time to time, may
be used by a broker-dealer in connection with resales of New Securities received in exchange for
Securities where such Securities were acquired as a result of market-making activities or other
trading activities. The Issuer and the Guarantors have agreed that, for a period of 180 days after
the consummation of the Registered Exchange Offer, they will make this Prospectus, as amended or
supplemented, available to any broker-dealer for use in connection with any such resale. In
addition, until __________, 20___, all dealers effecting transactions in the New Securities may be
required to deliver a Prospectus.

          The Issuer and the Guarantors will not receive any proceeds from any sale of New Securities by
brokers-dealers. New Securities received by broker-dealers for their own account pursuant to the
Registered Exchange Offer may be sold from time to time in one or more transactions in the
over-the-counter market, in negotiated transactions, through the writing of options on the New
Securities or a combination of such methods of resale, at market prices prevailing at the time of
resale, at prices related to such prevailing market prices or negotiated prices. Any such resale
may be made directly to purchasers or to or through brokers or dealers who may receive compensation
in the form of commissions or concessions from any such broker-dealer and/or the purchasers of any
such New Securities. Any broker-dealer that resells New Securities that were received by it for
its own account pursuant to the Registered Exchange Offer and any broker or dealer that
participates in a distribution of such New Securities may be deemed to be an “underwriter” within
the meaning of the Act and any profit on any such resale of New Securities and any commissions or
concessions received by any such persons may be deemed to be underwriting compensation under the
Act. The Letter of Transmittal states that by acknowledging that it will deliver and by delivering
a Prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter” within the
meaning of the Act.

          For a period of 180 days after the consummation of the Registered Exchange Offer, the Issuer
will promptly send additional copies of this Prospectus and any amendments or supplements to this
Prospectus to any broker-dealer that requests such documents in the Letter of Transmittal. The
Issuer and the Guarantors have agreed to pay all reasonable expenses incident to the Registered
Exchange Offer (including the expenses of one counsel for the holder of the Securities) other than
commissions or concessions of any brokers or dealers and will indemnify the holders of the
Securities (including any broker-dealers) against certain liabilities, including liabilities under
the Act.

C-1

 

          [If applicable, add information required by Regulation S-K Items 507 and/or 508.]

C-2

 

ANNEX D

LANGUAGE TO BE INCLUDED IN LETTER OF TRANSMITTAL

	1.	 	PLEASE FILL IN YOUR NAME AND ADDRESS BELOW IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10
ADDITIONAL COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR SUPPLEMENTS THERETO.

	 	 	 	 	 

	Name:
	 	 	 
	 
	Address:
	 	 	 
	 
	 
	 	 	 
	 

	2.	 	If the undersigned is not a Broker-Dealer, the undersigned represents that it acquired the
New Securities in the ordinary course of its business, it is not engaged in, and does not
intend to engage in, a distribution of New Securities and it has no arrangements or
understandings with any person to participate in a distribution of the New Securities. If the
undersigned is a Broker-Dealer that will receive New Securities for its own account in
exchange for Securities, it represents that the Securities to be exchanged for New Securities
were acquired by it as a result of market-making activities or other trading activities and
acknowledges that it shall deliver a Prospectus in connection with any resale of such New
Securities; however, by so acknowledging and by delivering a Prospectus, the undersigned shall
not be deemed to admit that it is an “underwriter” within the meaning of the Act.

D-1

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