Document:

EX-10.19

 Exhibit 10.19 

COLLATERAL AGREEMENT 
 dated and
effective as of 
 December 20, 2013 

among 
 AP GAMING I, LLC, 

each Subsidiary Party party hereto 

and 
 CITICORP NORTH AMERICA,
INC., 
 as Collateral Agent 

 TABLE OF CONTENTS 
  

					
	 	  	Page	 
	ARTICLE I.	  
	
	DEFINITIONS	  
		
	 SECTION 1.01. Credit Agreement
	  	 	1	  
	 SECTION 1.02. Other Defined Terms
	  	 	1	  
	
	ARTICLE II.	  
	
	[INTENTIONALLY OMITTED]	  
	
	ARTICLE III.	  
	
	PLEDGE OF SECURITIES	  
		
	 SECTION 3.01. Pledge
	  	 	7	  
	 SECTION 3.02. Delivery of the Pledged Collateral
	  	 	9	  
	 SECTION 3.03. Representations, Warranties and Covenants
	  	 	10	  
	 SECTION 3.04. Certification of Limited Liability Company and Limited Partnership Interests
	  	 	11	  
	 SECTION 3.05. Registration in Nominee Name; Denominations
	  	 	12	  
	 SECTION 3.06. Voting Rights; Dividends and Interest, Etc
	  	 	12	  
	 SECTION 3.07. Unlimited Liability Corporations
	  	 	14	  
	
	ARTICLE IV.	  
	
	SECURITY INTERESTS IN PERSONAL PROPERTY	  
		
	 SECTION 4.01. Security Interest
	  	 	15	  
	 SECTION 4.02. Representations and Warranties
	  	 	17	  
	 SECTION 4.03. Covenants
	  	 	19	  
	 SECTION 4.04. Other Actions
	  	 	21	  
	 SECTION 4.05. Covenants Regarding Patent, Trademark and Copyright Collateral
	  	 	22	  
	
	ARTICLE V.	  
	
	REMEDIES	  
		
	 SECTION 5.01. Remedies Upon Default
	  	 	23	  
	 SECTION 5.02. Application of Proceeds
	  	 	25	  
	 SECTION 5.03. Grant of License to Use Intellectual Property
	  	 	26	  
	 SECTION 5.04. Securities Act, Etc
	  	 	27	  

  
 i 

					
	 	  	Page	 
	
	ARTICLE VI.	  
	
	MISCELLANEOUS	  
		
	 SECTION 6.01. Notices
	  	 	27	  
	 SECTION 6.02. Security Interest Absolute
	  	 	27	  
	 SECTION 6.03. Limitation By Law
	  	 	28	  
	 SECTION 6.04. Binding Effect; Several Agreement
	  	 	28	  
	 SECTION 6.05. Successors and Assigns
	  	 	28	  
	 SECTION 6.06. Agent’s Fees and Expenses
	  	 	28	  
	 SECTION 6.07. Agent Appointed Attorney-in-Fact
	  	 	29	  
	 SECTION 6.08. GOVERNING LAW
	  	 	30	  
	 SECTION 6.09. Waivers; Amendment
	  	 	30	  
	 SECTION 6.10. WAIVER OF JURY TRIAL
	  	 	30	  
	 SECTION 6.11. Severability
	  	 	31	  
	 SECTION 6.12. Counterparts
	  	 	31	  
	 SECTION 6.13. Headings
	  	 	31	  
	 SECTION 6.14. Jurisdiction; Consent to Service of Process
	  	 	31	  
	 SECTION 6.15. Termination or Release
	  	 	32	  
	 SECTION 6.16. Additional Subsidiaries
	  	 	33	  
	 SECTION 6.17. Compliance with Gaming Laws
	  	 	34	  
	 SECTION 6.18. Subject to Any Applicable Intercreditor Agreement
	  	 	35	  
	 SECTION 6.19. Other First Lien Obligations
	  	 	35	  
	 SECTION 6.20. Person Serving as Agent
	  	 	36	  
	 SECTION 6.21. General Authority of the Agent
	  	 	36	  
	 SECTION 6.22. Application of Gaming Laws
	  	 	37	  
		
	 Schedules
	  			
		
	 Schedule I Subsidiary Parties
	  			
	 Schedule II Commercial Tort Claims
	  			
	 Schedule III Pledged Stock; Pledged Debt
	  			
	 Schedule IV Intellectual Property
	  			
		
	 Exhibits
	  			
		
	 Exhibit I Form of Supplement to the Collateral Agreement
	  			
	 Exhibit II Form of Perfection Certificate
	  			
	 Exhibit III Form of Other First Lien Secured Party Consent
	  			
	 Exhibit IV Form of Intellectual Property Security Agreement
	  			

  
 ii 

 COLLATERAL AGREEMENT dated and effective as of December 20, 2013 (this
“Agreement”), among AP GAMING I, LLC, a Delaware limited liability company (the “Borrower”), each Subsidiary of the Borrower listed on Schedule I hereto and each Subsidiary of the Borrower that becomes a
party hereto (each, a “Subsidiary Party”) and CITICORP NORTH AMERICA, INC., as Collateral Agent (together with its successors and permitted assigns in such capacity, the “Agent”) for the Secured Parties (as defined
below). 
 Reference is made to the First Lien Credit Agreement, dated as of the date hereof (as amended, restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”), among the Borrower, AP Gaming Holdings, LLC, a Delaware limited liability company, the Lenders party thereto from time to time, the Agent, as administrative agent
(together with its successors and assigns in such capacity, the “Credit Agreement Agent”), and the other parties party thereto. 

The Lenders and the Issuing Banks have agreed to extend credit to the Borrower subject to the terms and conditions set forth in the Credit
Agreement. The obligations of the Lenders and the Issuing Banks to extend such credit are conditioned upon, among other things, the execution and delivery of this Agreement. The Subsidiary Parties, as affiliates of the Borrower, will derive
substantial benefits from the extension of credit to the Borrower pursuant to the Credit Agreement. The Subsidiary Parties are willing to execute and deliver this Agreement in order to induce the Lenders and the Issuing Banks to extend such credit
under the Credit Agreement and to induce the holders of any other Other First Lien Obligations to make extensions of credit under the applicable Other First Lien Agreements, as applicable. Accordingly, the parties hereto agree as follows: 

ARTICLE I. 
 Definitions

 SECTION 1.01. Credit Agreement. 

(a) Capitalized terms used in this Agreement and not otherwise defined herein have the respective meanings assigned thereto in the Credit
Agreement. All terms defined in Article 9 of the New York UCC (as defined herein) and not defined in this Agreement or the Credit Agreement have the meanings specified therein. The term “instrument” shall have the meaning specified in
Article 9 of the New York UCC. 
 (b) The rules of construction specified in Section 1.02 of the Credit Agreement also apply to
this Agreement. 
 SECTION 1.02. Other Defined Terms. As used in this Agreement, the following terms have the meanings specified
below: 
 “Account Debtor” means any person who is or who may become obligated to any Pledgor under, with respect to or on
account of an Account. 

 “Agreement” has the meaning assigned to such term in the introductory paragraph
of this agreement, as amended, restated, supplemented or otherwise modified from time to time. 
 “Applicable First Lien
Representative” means the “Applicable Authorized Representative” as defined in the First Lien Intercreditor Agreement upon and during the effectiveness thereof. The Applicable First Lien Representative shall be the Credit
Agreement Agent unless and until another person is designated as the Applicable First Lien Representative pursuant to the First Lien Intercreditor Agreement. 

“Article 9 Collateral” has the meaning assigned to such term in Section 4.01. 

“Authorized Representative” means (i) the Credit Agreement Agent with respect to the Credit Agreement and (ii) with
respect to any Series of Other First Lien Obligations, the duly authorized representative of the Secured Parties of such Series of Other First Lien Obligations designated as “Authorized Representative” for such Secured Parties in the
related Other First Lien Secured Party Consent delivered to the Agent. 
 “Borrower” has the meaning assigned to such term
in the introductory paragraph of this Agreement. 
 “Collateral” means Article 9 Collateral and Pledged Collateral.
For the avoidance of doubt, the term Collateral does not include any Excluded Property. 
 “Copyright License” means any
written agreement, now or hereafter in effect, granting any right to any Pledgor under any copyright (whether applied for or registered) now or hereafter owned by a third party, and all rights of any Pledgor under any such agreement (including any
such rights that such Pledgor has the right to license). 
 “Copyrights” means all of the following now owned or hereafter
acquired by any Pledgor (or, as required in the context of the definition of “Copyright License,” any third party licensor): (a) all copyright rights in any work subject to the copyright laws of the United States or any other
country; and (b) all registrations and applications for registration of any such Copyright in the United States or any other country, including registrations, supplemental registrations and pending applications for registration in the United
States Copyright Office, including those listed on Schedule IV. 
 “Credit Agreement” has the meaning assigned
to such term in the preliminary statement of this Agreement. 
 “Credit Agreement Agent” has the meaning assigned to such
term in the preliminary statement of this Agreement. 
 “Credit Agreement Loan Obligations” means the “Loan
Obligations” as defined in the Credit Agreement. 
 “Credit Agreement Secured Obligations” means the
“Obligations” as defined in the Credit Agreement. 
  

  
 2 

 “Credit Agreement Secured Parties” means the “Secured Parties” as
defined in the Credit Agreement. 
 “Event of Default” means an “Event of Default” under and as defined in the
Credit Agreement or any Other First Lien Agreement. 
 “Federal Securities Laws” has the meaning assigned to such term in
Section 5.04. 
 “First Lien Intercreditor Agreement” means a “Permitted Pari Passu Intercreditor Agreement”
as defined in the Credit Agreement (as amended, restated, supplemented or otherwise modified from time to time). 
 “General
Intangibles” means all “general intangibles” as defined in the New York UCC, including all choses in action and causes of action and all other intangible personal property of any Pledgor of every kind and nature (other than
Accounts) now owned or hereafter acquired by any Pledgor, including corporate or other business records, indemnification claims, contract rights (including rights under leases, whether entered into as lessor or lessee, swap agreements and other
agreements), Intellectual Property, goodwill, registrations, franchises, tax refund claims and any letter of credit rights, guarantee, claim, security interest or other security held by or granted to any Pledgor to secure payment by an Account
Debtor of any of the Accounts. 
 “Intellectual Property” means all intellectual property of every kind and nature of any
Pledgor, whether now owned or hereafter acquired by any Pledgor, including inventions, designs, Patents, Copyrights, Trademarks, Patent Licenses, Copyright Licenses, Trademark Licenses, trade secrets, domain names, confidential or proprietary
technical and business information, know-how, show-how or other data or information and all related documentation. 
 “Intellectual
Property Collateral” means any Article 9 Collateral consisting of Intellectual Property. 
 “Intercreditor
Agreement” means a First Lien Intercreditor Agreement (upon and during the effectiveness thereof) or a Permitted Junior Intercreditor Agreement (upon and during the effectiveness thereof), as the case may be. 

“IP Security Agreement” means those certain intellectual property security agreements executed in connection with this
Agreement substantially in the form attached to this Agreement as Exhibit IV or such other form as shall be reasonably acceptable to the Agent, in each case, as may be from time to time modified, amended, restated and or supplemented. 

“Loan Documents” means (a) the Credit Agreement, (b) all Other First Lien Agreements, (c) the Security
Documents and (d) for purposes of Section 5.02 and Section 6.06 only, the First Lien Intercreditor Agreement (upon and during the effectiveness thereof). 

“Mortgaged Property” means each Material Real Property encumbered by one or more Mortgages to secure the Secured Obligations.

  

  
 3 

 “Mortgages” means, collectively, the mortgages, trust deeds, deeds of trust,
deeds to secure debt, assignment of leases and rents, and other security documents delivered from time to time with respect to the Mortgaged Properties, as amended, supplemented or otherwise modified from time to time. 

“Nevada Gaming Authority” has the meaning assigned to such term in Section 6.17(a). 

“Nevada Gaming Laws” has the meaning assigned to such term in Section 6.17(a). 

“Nevada Licensee” has the meaning assigned to such term in Section 6.17(a). 

“New York UCC” means the Uniform Commercial Code as from time to time in effect in the State of New York. 

“Other First Lien Agreement” means any indenture, credit agreement (excluding the Credit Agreement) or other agreement,
document or instrument, pursuant to which any Pledgor has or will incur Other First Lien Obligations; provided that, in each case, the Indebtedness thereunder has been designated as Other First Lien Obligations pursuant to and in accordance
with Section 6.19. 
 “Other First Lien Obligations” means (a) the due and punctual payment by any Pledgor of
(i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding) on
Indebtedness under any Other First Lien Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary obligations of such Pledgor to any Secured Party under
any Other First Lien Agreement, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during
the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding), (b) the due and punctual performance of all other obligations of such Pledgor under
or pursuant to any Other First Lien Agreement and (c) the due and punctual payment and performance of all the obligations of each other Pledgor under or pursuant to any Other First Lien Agreement. 

“Other First Lien Secured Parties” means, collectively, the holders of Other First Lien Obligations and any Authorized
Representative with respect thereto. 
 “Other First Lien Secured Party Consent” means a consent substantially in the form
of Exhibit III to this Agreement (or such other form as the Agent may agree) executed by the Authorized Representative of any holders of Other First Lien Obligations pursuant to Section 6.19. 

“Patent License” means any written agreement, now or hereafter in effect, granting to any Pledgor any right to make, use or
sell any invention covered by a letters patent or patent application now or hereafter owned by a third party (including any such rights that such Pledgor has the right to license). 

 

  
 4 

 “Patents” means all of the following now owned or hereafter acquired by any
Pledgor (or, as required in the context of the definition of “Patent License,” any third party licensor): (a) all letters patent of the United States or the equivalent thereof in any other country, and all applications for
letters patent of the United States or the equivalent thereof in any other country, including those listed on Schedule IV, and (b) all reissues, continuations, divisions, continuations-in-part or extensions thereof, and the
inventions disclosed or claimed therein, including the right to make, use and/or sell the inventions disclosed or claimed therein. 

“Perfection Certificate” means a certificate substantially in the form of Exhibit II, completed and supplemented
with the schedules and attachments contemplated thereby, and duly executed by a Responsible Officer of the Borrower. 
 “Permitted
Liens” means Liens that are (a) permitted by Section 6.02 of the Credit Agreement and (b) not prohibited by any Other First Lien Agreement. 

“Pledged Collateral” has the meaning assigned to such term in Section 3.01. 

“Pledged Debt” has the meaning assigned to such term in Section 3.01. 

“Pledged Securities” means any promissory notes, stock certificates or other certificated securities now or hereafter
included in the Pledged Collateral, including all certificates, instruments or other documents representing or evidencing any Pledged Collateral. 

“Pledged Stock” has the meaning assigned to such term in Section 3.01. 

“Pledgor” means (i) with respect to the Credit Agreement Secured Obligations, the Borrower and each Subsidiary Party;
and (ii) with respect to any Series of Other First Lien Obligations, the Borrower and each Subsidiary Party, excluding any of the foregoing if such person or persons are not intended to provide collateral with respect to such Series pursuant to
the terms of the Other First Lien Agreement governing such Series. 
 “Prior Agent” has the meaning assigned to such term
in Section 6.21. 
 “Real Property” means, collectively, all right, title and interest (including any leasehold
estate) in and to any and all parcels of or interests in real property owned in fee or leased by any Pledgor, together with, in each case, all easements, hereditaments and appurtenances relating thereto, and all improvements situated, placed or
constructed upon, or fixed to or incorporated into, or which becomes a component part of such real property, and appurtenant fixtures incidental to the ownership or lease thereof. 

“Regulation S-X Excluded Collateral” has the meaning assigned to such term in Section 3.01. 

 

  
 5 

 “Requirement of Law” means, as to any person, any law, treaty, rule, regulation,
statute, order, ordinance, decree, judgment, consent decree, writ, injunction, settlement agreement or governmental requirement enacted, promulgated or imposed or entered into or agreed by any Governmental Authority or Gaming Authority (including
Gaming Laws), in each case applicable to or binding upon such person or any of its property or assets or to which such person or any of its property or assets is subject. 

“Rule 3-10” has the meaning assigned to such term in Section 3.01. 

“Rule 3-16” has the meaning assigned to such term in Section 3.01. 

“SEC” has the meaning assigned to such term in Section 3.01 

“Secured Obligations” means, collectively, the Credit Agreement Secured Obligations and any Other First Lien Obligations, or
any of the foregoing. 
 “Secured Parties” means the persons holding any Secured Obligations and in any event including
(i) all Credit Agreement Secured Parties and (ii) all Other First Lien Secured Parties. 
 “Security Documents”
has the meaning assigned to such term in the Credit Agreement and any analogous term in any Other First Lien Agreement (but, with respect to the Secured Obligations of any Series, the term Security Documents shall not include any document which by
its terms is solely for the benefit of the holders of one or more other Series of Secured Obligations and not such Series of Secured Obligations). 

“Security Interest” has the meaning assigned to such term in Section 4.01. 

“Series” means (a) with respect to the Secured Parties, each of (i) the Credit Agreement Secured Parties (in their
capacities as such) and (ii) the Other First Lien Secured Parties that become subject to this Agreement and the First Lien Intercreditor Agreement after the date hereof that are represented by a common Authorized Representative (in its capacity
as such for such Other First Lien Secured Parties) and (b) with respect to any Secured Obligations, each of (i) the Credit Agreement Secured Obligations and (ii) the Other First Lien Obligations incurred pursuant to any Other First
Lien Agreement, which pursuant to any Other First Lien Secured Party Consent, are to be represented hereunder by a common Authorized Representative (in its capacity as such for such Other First Lien Obligations). 

“Specified Excluded Collateral” means, solely with respect to any Series of Other First Lien Obligations, any asset that is
not intended to be collateral with respect to such Series pursuant to the terms of the Other First Lien Agreement governing such Series (including the Regulation S-X Excluded Collateral to the extent applicable to such Series in accordance with the
last paragraph of Section 3.01). 
 “Subsidiary Party” has the meaning assigned to such term in the preliminary
statement of this Agreement. 
 “Successor Agent” has the meaning assigned to such term in Section 6.21. 

 

  
 6 

 “Termination Date” means the “Termination Date” as defined in the
Credit Agreement. 
 “Trademark License” means any written agreement, now or hereafter in effect, granting to any Pledgor
any right to use any trademark, service mark or general intangibles of like nature now or hereafter owned by a third party (including any such rights that such Pledgor has the right to license). 

“Trademarks” means all of the following now owned or hereafter acquired by any Pledgor (or, as required in the context of the
definition of “Trademark License,” any third party licensor): (a) all trademarks, service marks, corporate names, company names, business names, fictitious business names, trade styles, trade dress, logos, other source or
business identifiers, designs and general intangibles of like nature, now existing or hereafter adopted or acquired, all registrations thereof (if any), and all registration and recording applications filed in connection therewith, including
registrations and registration applications in the United States Patent and Trademark Office or any similar offices in any State of the United States or any other country or any political subdivision thereof, and all renewals thereof, including
those listed on Schedule IV and (b) all goodwill associated with or symbolized by the foregoing. 
 “ULC”
has the meaning assigned to such term in Section 3.07. 
 “ULC Interests” has the meaning assigned to such term in
Section 3.07. 
 “ULC Laws” means the Companies Act (Nova Scotia), the Business Corporations
Act (Alberta) and the Business Corporations Act (British Columbia). 
 ARTICLE II. 

[Intentionally Omitted] 

ARTICLE III. 
 Pledge of
Securities 
 SECTION 3.01. Pledge. As security for the payment or performance, as the case may be, in full of the Secured
Obligations, each Pledgor hereby assigns and pledges to the Agent, its successors and permitted assigns, for the benefit of the Secured Parties, and hereby grants to the Agent, its successors and permitted assigns, for the benefit of the Secured
Parties, a security interest in all of such Pledgor’s right, title and interest in, to and under: 
 (a) the Equity Interests directly
owned by it (which such Equity Interests constituting Pledged Stock on the date hereof shall be listed on Schedule III) and any other Equity Interests obtained in the future by such Pledgor and any certificates representing all such
Equity Interests (the “Pledged Stock”); provided that the Pledged Stock shall not include any Excluded Property; 
  

  
 7 

 (b) (i) the debt securities currently issued to any Pledgor (which debt securities constituting
Pledged Debt shall be listed on Schedule III), (ii) any debt securities in the future issued to such Pledgor and (iii) the promissory notes and any other instruments, if any, evidencing such debt securities (the items referred to in
subclauses (i) through (iii), collectively, the “Pledged Debt”); provided that the Pledged Debt shall not include any Excluded Property; 

(c) subject to Section 3.06, all payments of principal or interest, dividends, cash, instruments and other property from time to time
received, receivable or otherwise distributed in respect of, in exchange for or upon the conversion of, and all other proceeds received in respect of, the Pledged Stock and the Pledged Debt; 

(d) subject to Section 3.06, all rights and privileges of such Pledgor with respect to the Pledged Stock and the Pledged Debt and
other property referred to in clause (c) above; and 
 (e) all proceeds of any of the foregoing (the items referred to in
clauses (a) through this clause (e) being collectively referred to as the “Pledged Collateral”); provided, that the Pledged Collateral shall not include any Excluded Property. 

TO HAVE AND TO HOLD the Pledged Collateral, together with all right, title, interest, powers, privileges and preferences pertaining or
incidental thereto, unto the Agent, its successors and permitted assigns, for the benefit of the Secured Parties, forever; subject, however, to the terms, covenants and conditions hereinafter set forth. 

Notwithstanding anything else to the contrary, in the event that Rule 3-10 (“Rule 3-10”) or Rule 3-16 (“Rule
3-16”) of Regulation S-X under the Securities Act of 1933, as amended, as amended, modified or interpreted by the Securities Exchange Commission (“SEC”), would require (or is replaced with another rule or regulation, or any
other law, rule or regulation is adopted, which would require) the filing with the SEC (or any other Governmental Authority) of separate financial statements of the Borrower or any Subsidiary of the Borrower due to the fact that such person’s
Equity Interests secure any Series of the Other First Lien Obligations affected thereby, then the Equity Interests of such person (the “Regulation S-X Excluded Collateral”) will automatically be deemed not to be part of the
Collateral securing such Series of Other First Lien Obligations affected thereby, but only to the extent necessary to not be subject to such requirement and only for so long as required to not be subject to such requirement. In such event, this
Agreement may be amended or modified, without the consent of any Secured Party, to the extent necessary to release the Lien on the Regulation S-X Excluded Collateral in favor of the Agent with respect only to the relevant Series of Other First Lien
Obligations. In the event that Rule 3-10 or Rule 3-16 is amended, modified or interpreted by the SEC to permit (or is replaced with another rule or regulation, or any other law, rule or regulation is adopted, which would permit) any Regulation S-X
Excluded Collateral to secure the Other First Lien Obligations in excess of the amount then pledged without the filing with the SEC (or any other Governmental Authority) of separate financial statements of such person, then the Equity Interests of
such person will automatically be deemed to be a part of the Collateral for the relevant Series of Other First Lien Obligations. For the avoidance of doubt and notwithstanding anything to the contrary in this Agreement, nothing in this paragraph
shall limit the pledge of such Equity Interests and other securities from securing the Secured Obligations (other than the relevant Series of 

  
 8 

 
Other First Lien Obligations) at all relevant times or from securing any Other First Lien Obligations that are not in respect of securities subject to regulation by the SEC. To the extent any
proceeds of any collection or sale of Equity Interests deemed by this paragraph to no longer constitute part of the Collateral for the relevant Series of Other First Lien Obligations are to be applied by the Agent in accordance with
Section 5.02 hereof, such proceeds shall, notwithstanding the terms of Section 5.02 and the First Lien Intercreditor Agreement, not be applied to the payment of such Series of Other First Lien Obligations. 

SECTION 3.02. Delivery of the Pledged Collateral. 

(a) Subject to the provisions of Section 6.17, each Pledgor agrees promptly (and in any event within 45 days after the acquisition (or
such longer time as the Applicable First Lien Representative shall permit in its reasonable discretion)) to deliver or cause to be delivered to the Agent, for the benefit of the Secured Parties, any and all Pledged Securities to the extent such
Pledged Securities are either (i) Equity Interests that constitute Pledged Stock or (ii) in the case of promissory notes or other instruments evidencing Indebtedness, are required to be delivered pursuant to paragraph (b) of this
Section 3.02. 
 (b) Each Pledgor will cause any Indebtedness for borrowed money (other than Excluded Property) (i) having, in each
case, an aggregate principal amount in excess of $2,000,000 or (ii) payable by the Borrower or any Subsidiary owed to such Pledgor by any person to be evidenced by a duly executed promissory note that is pledged and delivered to the Agent, for
the benefit of the Secured Parties, pursuant to the terms hereof (including clause (a) above). To the extent any such promissory note is a demand note, each Pledgor party thereto agrees, if requested by the Agent, to immediately demand payment
thereunder upon an Event of Default specified under Section 7.01(b), (c), (h) or (i) of the Credit Agreement or under any equivalent provision of any Other First Lien Agreement, unless such demand would not be commercially reasonable
or would otherwise expose such Pledgor to liability to the maker. 
 (c) Subject to the provisions of Section 6.17, upon delivery to the
Agent, (i) any Pledged Securities required to be delivered pursuant to the foregoing paragraphs (a) and (b) of this Section 3.02 shall be accompanied by stock powers or note powers, as applicable, duly executed in blank or other
instruments of transfer reasonably satisfactory to the Agent and by such other instruments and documents as the Agent may reasonably request and (ii) all other property comprising part of the Pledged Collateral delivered pursuant to the terms
of this Agreement shall be accompanied to the extent necessary to perfect the security interest in or allow realization on the Pledged Collateral by proper instruments of assignment duly executed by the applicable Pledgor and such other instruments
or documents as the Agent may reasonably request. Each delivery of Pledged Securities shall be accompanied by a schedule describing the securities, which schedule shall be attached hereto as Schedule III (or a supplement to Schedule
III, as applicable) and made a part hereof; provided that failure to attach any such schedule hereto shall not affect the validity of such pledge of such Pledged Securities. Each schedule so delivered shall supplement any prior schedules
so delivered. 

  
 9 

 SECTION 3.03. Representations, Warranties and Covenants. The Pledgors, jointly and
severally, represent, warrant and covenant to and with the Agent, for the benefit of the Secured Parties, that: 
 (a)
Schedule III (as supplemented after the date hereof from time to time, as applicable) correctly sets forth (and, with respect to any Pledged Stock issued by an issuer that is not a subsidiary of the Borrower, correctly sets forth, to the
knowledge of the relevant Pledgor), as of the date of such Schedule (or supplement, as applicable), the percentage of the issued and outstanding Equity Interests of the issuer thereof represented by such Pledged Stock and includes (i) all
Equity Interests required to be pledged hereunder and (ii) all debt securities and promissory notes or instruments evidencing Indebtedness, in each case of this clause (ii), required to be pledged hereunder (and, in each case, to otherwise
satisfy the Collateral and Guarantee Requirement); 
 (b) the Pledged Stock (and, with respect to any Pledged Stock issued by an issuer that
is not a subsidiary of the Borrower, to the knowledge of the relevant Pledgor) have been duly and validly authorized and issued by the issuers thereof and are fully paid and, with respect to Equity Interests constituting capital stock of a
corporation, nonassessable (subject to the assessability of the shares of a ULC under the ULC Laws); 
 (c) except for the security interests
granted hereunder (or otherwise not prohibited by the Loan Documents and each Other First Lien Agreement then in effect), each Pledgor (i) is and, subject to any transfers made not in violation of the Credit Agreement and each Other First Lien
Agreement, will continue to be, the direct owner, beneficially and of record, of the Pledged Securities indicated on Schedule III as owned by such Pledgor, (ii) holds the same free and clear of all Liens, other than Permitted Liens,
(iii) will make no assignment, pledge, hypothecation or transfer of, or create or permit to exist any security interest in or other Lien on, the Pledged Collateral, other than pursuant to a transaction not prohibited by the Credit Agreement and
each Other First Lien Agreement and other than Permitted Liens, and (iv) subject to the rights of such Pledgor under the Loan Documents and each Other First Lien Agreement then in effect to Dispose of Pledged Collateral, will use commercially
reasonable efforts to defend its title or interest thereto or therein against any and all Liens (other than Permitted Liens), however arising, of all persons; 

(d) other than as set forth in the Credit Agreement or the schedules thereto or, after the termination of the Credit Agreement, in any Other
First Lien Agreement, and except for restrictions and limitations imposed by the Loan Documents, any Other First Lien Agreement, Gaming Laws or securities laws generally or otherwise not prohibited by the Credit Agreement and each Other First Lien
Agreement (or, in the case of shares of a ULC, any requirement under the ULC Laws that transfers of such shares be approved by the directors of the ULC), the Pledged Stock (other than partnership interest) is and will continue to be freely
transferable and assignable, and none of the Pledged Stock is or will be subject to any option, right of first refusal, shareholders agreement, charter, by-law, memorandum of association or articles of association provisions or contractual
restriction of any nature that might prohibit, impair, delay or otherwise affect the pledge of such Pledged Collateral hereunder, the Disposition thereof pursuant hereto or the exercise by the Agent of rights and remedies hereunder other than under
applicable Requirements of Law (including Gaming Laws); 
 (e) each Pledgor has the power and authority to pledge the Pledged Collateral
pledged by it hereunder in the manner hereby done or contemplated; 

  
 10 

 (f) other than as set forth in the Credit Agreement or the schedules thereto or as required under
Gaming Laws, as of the date hereof, no consent or approval of any Governmental Authority, any securities exchange or any other person was or is necessary to the validity of the pledge effected hereby (other than such as have been obtained and are in
full force and effect); 
 (g) by virtue of the execution and delivery by the Pledgors of this Agreement, when any Pledged Securities are
delivered to the Agent, for the benefit of the Secured Parties, in accordance with this Agreement and a financing statement naming the Agent as the secured party and covering the Pledged Collateral to which such Pledged Securities relate is filed in
the appropriate filing office pursuant to Section 4.02(b), the Agent will obtain, for the benefit of the Secured Parties, a legal, valid and perfected lien upon and security interest in such Pledged Collateral under the applicable Uniform
Commercial Code, subject only to Permitted Liens, as security for the payment and performance of the Secured Obligations to the extent such perfection is governed by the applicable Uniform Commercial Code; and 

(h) Subject to Section 6.17, the pledge effected hereby is effective to vest in the Agent, for the benefit of the Secured Parties, the
rights of the Agent in the Pledged Collateral as set forth herein. 
 SECTION 3.04. Certification of Limited Liability Company and
Limited Partnership Interests. 
 (a) In respect of each interest in any limited liability company or limited partnership Controlled by
any Pledgor, pledged hereunder and that is a “security” (within the meaning of Section 8-103 of the New York UCC or the corresponding code or statute of any other applicable jurisdiction), such interest shall at all times be a
“security” governed by Article 8 of the New York UCC or the corresponding code or statute of any other applicable jurisdiction and at all times be evidenced by a certificate delivered to the Agent pursuant to the terms hereof, unless
promptly thereafter (and in any event within 30 days or such longer period as the Agent may permit in its reasonable discretion), such Pledgor provides notification to the Agent of the election to have such interest no longer constitute a
“security” (within the meaning of Section 8-103 of the New York UCC or the corresponding code or statute of any other applicable jurisdiction), and thereafter complies with the following clause (b). 

(b) In respect of each interest in any limited liability company or limited partnership Controlled by a Pledgor, pledged hereunder and that is
not a “security” (within the meaning of Section 8-103 of the New York UCC or the corresponding code or statute of any other applicable jurisdiction), such Pledgor shall at no time elect to treat such interest as a “security”
within the meaning of Article 8 of the New York UCC or issue any certificate representing such interest, unless promptly thereafter (and in any event within 30 days or such longer period as the Agent may permit in its reasonable discretion), such
Pledgor provides notification to the Agent of such election and delivers any such certificate to the Agent pursuant to the terms hereof. 

  
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 SECTION 3.05. Registration in Nominee Name; Denominations. The Agent, on behalf of the
Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities (other than Pledged Securities that are ULC Interests) in the name of the applicable Pledgor, endorsed or assigned in blank or in favor of the
Agent or, if an Event of Default shall have occurred and be continuing, in its own name as pledgee or the name of its nominee (as pledgee or as sub-agent). Following the occurrence and during the continuance of an Event of Default, each Pledgor will
promptly give to the Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Pledgor. If an Event of Default shall have occurred and be continuing, the Agent shall have the
right to exchange the certificates representing Pledged Securities (other than Pledged Securities that are ULC Interests) for certificates of smaller or larger denominations for any purpose consistent with this Agreement. With respect to Pledged
Securities that are ULC Interests, at any time at which an Event of Default has occurred and is continuing, the Agent shall have the right to require the Pledgors to cause the ULC Interests to be transferred and registered as the Agent may direct
and each applicable Pledgor covenants that, at the time of any such transfer, it will provide all required consents and approvals. Each Pledgor shall use its commercially reasonable efforts to cause any Subsidiary of the Borrower that is not a party
to this Agreement to comply with a request by the Agent, pursuant to this Section 3.05, to exchange certificates representing Pledged Securities of such Subsidiary for certificates of smaller or larger denominations. 

SECTION 3.06. Voting Rights; Dividends and Interest, Etc. 

(a) Unless and until an Event of Default shall have occurred and be continuing and the Agent shall have given written notice to the relevant
Pledgors of the Agent’s intention to exercise its rights hereunder: 
 (i) Each Pledgor shall be entitled to exercise
any and all voting and/or other consensual rights and powers inuring to an owner of Pledged Collateral or any part thereof for any purpose not prohibited by the terms of this Agreement, the Credit Agreement and each Other First Lien Agreement then
in effect; provided that, except as not prohibited by the Credit Agreement, any other Loan Documents and each Other First Lien Agreement then in effect, such rights and powers shall not be exercised in any manner that could materially and
adversely affect the rights and remedies of any of the Agent or the other Secured Parties under this Agreement, the Credit Agreement, any other Loan Documents or any Other First Lien Agreement or the ability of the Secured Parties to exercise the
same. 
 (ii) The Agent shall promptly execute and deliver to each Pledgor, or cause to be executed and delivered to such
Pledgor, all such proxies, powers of attorney and other instruments as such Pledgor may reasonably request for the purpose of enabling such Pledgor to exercise the voting and/or consensual rights and powers it is entitled to exercise pursuant to
subparagraph (i) above. 
 (iii) Each Pledgor shall be entitled to receive and retain any and all dividends, interest,
principal and other distributions paid on or distributed in respect of the Pledged Collateral to the extent and only to the extent that such dividends, interest, principal and other distributions are not prohibited by, and otherwise paid or
distributed in accordance with, the terms and conditions of the Credit Agreement, any other Loan Documents and each Other First Lien Agreement then in effect and applicable laws; provided that any noncash dividends, interest, principal or
other distributions that would constitute Pledged 

  
 12 

 
Securities, whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests of the issuer of any Pledged Securities, received in exchange for Pledged
Securities or any part thereof, or in redemption thereof or as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise, shall be and become part of the Pledged Collateral, and,
if received by any Pledgor, shall be promptly (and in any event within 45 days following their receipt (or such longer time as the Applicable First Lien Representative shall permit in its reasonable discretion)) delivered to the Agent, for the
benefit of the Secured Parties, in the same form as so received (endorsed in a manner reasonably satisfactory to the Agent). 
 (b) Upon the
occurrence and during the continuance of an Event of Default and upon written notice by the Agent to the relevant Pledgors of the Agent’s intention to exercise its rights hereunder, all rights of any Pledgor to receive dividends, interest,
principal or other distributions with respect to the Pledged Securities that are not ULC Interests that such Pledgor is authorized to receive pursuant to paragraph (a)(iii) of this Section 3.06 shall cease, and all such rights shall
thereupon become vested, for the benefit of the Secured Parties, in the Agent, which shall have the sole and exclusive right and authority to receive and retain such dividends, interest, principal or other distributions; provided, that
notwithstanding the occurrence and continuation of an Event of Default, any Pledgor may continue to exercise dividend and distribution rights solely to the extent permitted under subclause (i), subclause (iii) and subclause (v) of
Section 6.06(b) of the Credit Agreement. All dividends, interest, principal or other distributions received by any Pledgor contrary to the provisions of this Section 3.06 shall not be commingled by such Pledgor with any of its other funds
or property but shall be held separate and apart therefrom, shall be held in trust for the benefit of the Agent, for the benefit of the Secured Parties, and shall be forthwith delivered to the Agent, for the benefit of the Secured Parties, in the
same form as so received (endorsed in a manner reasonably satisfactory to the Agent). Any and all money and other property paid over to or received by the Agent pursuant to the provisions of this paragraph (b) shall be retained by the Agent in
an account to be established by the Agent upon receipt of such money or other property and shall be applied in accordance with the provisions of Section 5.02. After all Events of Default have been cured or waived and the Borrower has delivered
to the Agent a certificate to that effect, the Agent shall promptly repay to each Pledgor (without interest) all dividends, interest, principal or other distributions that such Pledgor would otherwise be permitted to retain pursuant to the terms of
paragraph (a)(iii) of this Section 3.06 and that remain in such account. With respect to Pledged Securities that are ULC Interests, all rights of any Pledgor to receive dividends, interest, principal or other distributions (except for any
dividend or distribution comprised of Pledged Securities that are certificated, which shall be delivered to the Agent to hold hereunder in accordance with the terms herein) that such Pledgor is authorized to receive pursuant to paragraph
(a)(iii) of this Section 3.06 shall continue and not become vested or held in trust for or on behalf of the Agent until such time as such ULC Interests are effectively transferred into the name of the Agent, any other Secured Party or any
other Person on the books and records of the applicable ULC. 
 (c) Upon the occurrence and during the continuance of an Event of Default and
after written notice by the Agent to the Borrower of the Agent’s intention to exercise its rights hereunder, subject to applicable Gaming Laws, all rights of any Pledgor to exercise the voting and/or consensual rights and powers it is entitled
to exercise pursuant to paragraph (a)(i) 

  
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of this Section 3.06 with respect to Pledged Securities that are not ULC Interests, and the obligations of the Agent under paragraph (a)(ii) of this Section 3.06, shall cease, and
all such rights shall thereupon become vested in the Agent, for the benefit of the Secured Parties, which shall have the sole and exclusive right and authority to exercise such voting and consensual rights and powers; provided that, unless
otherwise directed by the Applicable First Lien Representative, the Agent shall have the right from time to time following and during the continuance of an Event of Default to permit the Pledgors to exercise such rights. After all Events of Default
have been cured or waived and the Borrower has delivered to the Agent a certificate to that effect, all rights of any Pledgor to exercise the voting and/or other consensual rights and powers it is entitled to exercise pursuant to paragraph (a)(i) of
this Section 3.06 shall continue and all such rights shall no longer be vested in the Agent for the benefit of the Secured Parties, and the obligations of the Agent under paragraph (a)(ii) of this Section 3.06 shall be reinstated. With
respect to Pledged Securities that are ULC Interests, all rights of any Pledgor to exercise the voting and/or other consensual rights and powers that such Pledgor is authorized to exercise pursuant to paragraph (a)(i) of this Section 3.06
shall continue and all such rights shall not become vested in the Agent or the Agent for the benefit of the Secured Parties until such time as such ULC Interests are effectively transferred into the name of the Agent, any other Secured Party or any
other Person on the books and records of the applicable ULC. 
 (d) Any notice given by the Agent to the Borrower suspending any
Pledgor’s rights under paragraph (a)(i) of this Section 3.06 may be given by telephone if promptly confirmed in writing and (ii) may suspend the rights of the Pledgors under paragraph (a)(i) or paragraph (a)(iii) of
this Section 3.06 in part without suspending all such rights (as specified by the Agent in its sole and absolute discretion) and without waiving or otherwise affecting the Agent’s rights to give additional notices from time to time
suspending other rights so long as an Event of Default has occurred and is continuing. 
 SECTION 3.07. Unlimited Liability
Corporations. Notwithstanding the grant of security interest made by a Pledgor in favor of the Agent, its successor and assigns, for the benefit of the Secured Parties, of all of its Pledged Securities, any Pledgor that owns any shares or
other Equity Interests in the capital stock (for the purposes of this Article III, “ULC Interests”) in any unlimited liability corporation (for the purposes of this Article III, a “ULC”) pledged hereunder shall
remain registered as the sole registered and beneficial owner of such ULC Interests and will remain as registered and beneficial owner until such time as such ULC Interests are effectively transferred into the name of the Agent, any other Secured
Party or any other person on the books and records of such ULC. Nothing in this Agreement is intended to or shall constitute the Agent, any other Secured Party or any person as a shareholder of any ULC until such time as notice is given to such ULC
and further steps are taken thereunder so as to register the Agent, any other Secured Party or any other person as the holder of the ULC Interests of such ULC. To the extent any provision hereof would have the effect of constituting the Agent, any
other Secured Party or any other person as a shareholder of a ULC prior to such time, such provision shall be severed therefrom and ineffective with respect to the ULC Interests of such ULC without otherwise invalidating or rendering unenforceable
this Agreement or invalidating or rendering unenforceable such provision insofar as it relates to Pledged Securities which are not ULC Interests. Except upon the exercise of rights to sell or otherwise dispose of ULC Interests following the
occurrence and during the continuance of an Event of Default hereunder, no Pledgor 

  
 14 

 
shall cause or permit, or enable any ULC in which it holds ULC Interests to cause or permit, the Agent, or any other Secured Party to: (a) be registered as shareholders of such ULC;
(b) have any notation entered in its favor in the share register of such ULC; (c) be held out as a shareholder of such ULC; (d) receive, directly or indirectly, any dividends, property or other distributions from such ULC by reason of
the Agent holding a security interest in such ULC; or (e) act as a shareholder of such ULC, or exercise any rights of a shareholder of such ULC including the right to attend a meeting of, or to vote the ULC Interests of, such ULC. 

ARTICLE IV. 
 Security
Interests in Personal Property 
 SECTION 4.01. Security Interest. 

(a) As security for the payment or performance, as the case may be, in full of the Secured Obligations, each Pledgor hereby assigns and pledges
to the Agent, its successors and permitted assigns, for the benefit of the Secured Parties, and hereby grants to the Agent, its successors and permitted assigns, for the benefit of the Secured Parties, a security interest (the “Security
Interest”) in all right, title and interest in or to any and all of the following assets and properties now owned or at any time hereafter acquired by such Pledgor or in which such Pledgor now has or at any time in the future may acquire
any right, title or interest (collectively, the “Article 9 Collateral”): 
 (i) all Accounts; 

(ii) all Chattel Paper; 

(iii) all cash and Deposit Accounts; 

(iv) all Documents; 

(v) all Equipment; 

(vi) all Fixtures; 

(vii) all General Intangibles; 

(viii) Goods; 

(ix) all Instruments other than to the extent constituting Pledged Debt, which are governed by Article II; 

(x) all Intellectual Property; 

(xi) all Inventory; 

  
 15 

 (xii) all Investment Property (other than to the extent constituting Pledged
Collateral, which are governed by Article II); 
 (xiii) all Letter of Credit Rights; 

(xiv) all Commercial Tort Claims described on Schedule II hereto (as may be supplemented from time to time pursuant to
Section 4.04); 
 (xv) all books and records pertaining to the Article 9 Collateral; and 

(xvi) to the extent not otherwise included, all proceeds, Supporting Obligations and products of any and all of the foregoing
and all collateral security and guarantees given by any person with respect to any of the foregoing; 
 Notwithstanding anything to the
contrary in this Agreement, any other Loan Document or any Other First Lien Agreement, this Agreement shall not constitute a grant of a security interest in (and the Article 9 Collateral shall not include), and the other provisions of the Loan
Documents and any Other First Lien Agreement with respect to Collateral need not be satisfied with respect to, the Excluded Property. In addition, for the avoidance of doubt, the provisions of Section 9.24 (Application of Gaming Laws) of the
Credit Agreement and Section 6.22 (Gaming Laws) of this Agreement shall apply to all the terms and provisions of this Agreement. 
 (b)
Each Pledgor hereby irrevocably authorizes the Agent at any time and from time to time to file in any relevant jurisdiction any initial financing statements (including fixture filings with respect to the Mortgaged Properties) with respect to the
Article 9 Collateral or any part thereof and amendments thereto that contain the information required by Article 9 of the Uniform Commercial Code of each applicable jurisdiction for the filing of any financing statement or amendment,
including (i) whether such Pledgor is an organization, the type of organization and any organizational identification number issued to such Pledgor, (ii) in the case of a financing statement filed as a fixture filing, a sufficient
description of the real property to which such Article 9 Collateral relates and (iii) a description of collateral that describes such property in any other manner as the Agent may reasonably determine is necessary or advisable to ensure the
perfection of the security interest in the Article 9 Collateral granted under this Agreement, including describing such property as “all assets” or “all personal property” or words of similar effect. Each Pledgor agrees to
provide such information to the Agent promptly upon request. 
 The Agent is further authorized to file with the United States Patent and
Trademark Office or United States Copyright Office such documents as may be reasonably necessary or advisable for the purpose of perfecting, confirming, continuing, enforcing or protecting the Security Interest granted by each Pledgor in such
Pledgor’s Patents, Trademarks and Copyrights, without the signature of such Pledgor, and naming such Pledgor or the Pledgors as debtors and the Agent as secured party. Notwithstanding anything to the contrary herein, no Pledgor shall be
required to take any action under the laws of any jurisdiction other than the United States of America (or any political subdivision thereof) for the purpose of perfecting the Security Interest in any Article 9 Collateral of such Pledgor
constituting Patents, Trademarks or Copyrights or any other assets. 

  
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 (c) The Security Interest is granted as security only and shall not subject the Agent or any
other Secured Party to, or in any way alter or modify, any obligation or liability of any Pledgor with respect to or arising out of the Article 9 Collateral. 

(d) Notwithstanding anything to the contrary in this Agreement, none of the Pledgors shall be required to enter into any control agreements or
control, lockbox or similar arrangements with respect to any Deposit Accounts, Securities Accounts, Commodities Accounts or any other assets (other than the delivery of Pledged Securities to the Agent to the extent required by Article III). 

SECTION 4.02. Representations and Warranties. The Pledgors jointly and severally represent and warrant to the Agent, for the benefit of
the Secured Parties that: 
 (a) Each Pledgor has good and valid rights in and title to the Article 9 Collateral with respect to which
it has purported to grant a Security Interest hereunder, except where the failure to have such rights and title would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, and has full power and authority
to grant to the Agent the Security Interest in such Article 9 Collateral pursuant hereto and to execute, deliver and perform its obligations in accordance with the terms of this Agreement, without the consent or approval of any other person as
of the date hereof other than any consent or approval that has been obtained and is in full force and effect or has otherwise been disclosed herein or in the Credit Agreement and the schedules thereto or, after the termination of the Credit
Agreement, in any Other First Lien Agreement. 
 (b) The Perfection Certificate attached hereto as Exhibit II has been duly prepared,
completed and executed and the information set forth therein, including the exact legal name of each Pledgor, is correct and complete, in all material respects, as of the Closing Date. Except as provided in Section 5.10 of the Credit Agreement,
the Uniform Commercial Code financing statements or other appropriate filings, recordings or registrations containing a description of the Article 9 Collateral have been prepared by the Agent based upon the information provided to the Agent in
the Perfection Certificate for filing in each governmental, municipal or other office specified in Schedule 4 to the Perfection Certificate (or specified by notice from the Borrower to the Agent after the Closing Date in the case of
filings, recordings or registrations required by Section 5.10 of the Credit Agreement or, after the termination of the Credit Agreement, any equivalent provision of each Other First Lien Agreement), and constitute all the filings, recordings
and registrations (other than filings required to be made in the United States Patent and Trademark Office and the United States Copyright Office in order to perfect the Security Interest in Article 9 Collateral consisting of United States
issued Patents, United States registered Trademarks and United States registered Copyrights) that are necessary as of the Closing Date to publish notice of and protect the validity of and to establish a legal, valid and perfected security interest
in favor of the Agent (for the benefit of the Secured Parties) in respect of all Article 9 Collateral in which the Security Interest may be perfected by filing, recording or registration in the United States (or any political subdivision
thereof) and its territories and possessions, and no further or subsequent filing, refiling, recording, rerecording, registration or reregistration is necessary in any such jurisdiction, except as provided under applicable law with respect to the
filing of continuation statements or amendments. Except as provided in Section 5.10 of the Credit Agreement, each Pledgor represents and warrants that IP Security Agreements executed 

  
 17 

 
by the applicable Pledgors containing a description of all Article 9 Collateral consisting of Intellectual Property that are United States issued Patents (and Patents for which U.S.
registration applications are pending) and United States registered Trademarks (and Trademarks for which U.S. registration applications are pending) have been delivered to the Agent for recording with the United States Patent and Trademark Office
and the United States Copyright Office pursuant to 35 U.S.C. § 261, 15 U.S.C. § 1060 or 17 U.S.C. § 205 and the regulations thereunder, as applicable, to protect the validity of and to establish a legal, valid and
perfected security interest (or, in the case of Patents and Trademarks, notice thereof) in favor of the Agent, for the benefit of the Secured Parties, in respect of all Article 9 Collateral consisting of such Intellectual Property in which a
security interest may be perfected by recording with the United States Patent and Trademark Office and the United States Copyright Office, as applicable, and no further or subsequent filing, refiling, recording, rerecording, registration or
reregistration is necessary (other than (x) the Uniform Commercial Code financing statements and (y) such actions as are necessary to perfect the Security Interest with respect to any Article 9 Collateral consisting of Patents,
Trademarks and Copyrights (or registration or application for registration thereof) acquired or developed after the Closing Date). 
 (c) The
Security Interest constitutes (i) a legal and valid security interest in all the Article 9 Collateral securing the payment and performance of the Secured Obligations, and (ii) subject to the filings described in Section 4.02(b)
and filings required to be made under the Loan Documents after the Closing Date, as applicable, a perfected security interest in all Article 9 Collateral in which a security interest may be perfected by filing, recording or registering a
Uniform Commercial Code financing statement or analogous document in the United States (or any political subdivision thereof) and its territories and possessions pursuant to the Uniform Commercial Code or other applicable law in such jurisdictions
and (iii) subject to Section 4.02(b), a security interest that shall be perfected in all Article 9 Collateral in which a security interest may be perfected upon the receipt and recording of the IP Security Agreement with the United States
Patent and Trademark Office and the United States Copyright Office, as applicable. The Security Interest is and shall be prior to any other Lien on any of the Article 9 Collateral other than Permitted Liens. 

(d) The Article 9 Collateral is owned by the Pledgors free and clear of any Lien, other than Permitted Liens. None of the Pledgors has
filed or consented to the filing of (i) any financing statement or analogous document under the Uniform Commercial Code or any other applicable laws covering any Article 9 Collateral, (ii) any assignment in which any Pledgor assigns
any Article 9 Collateral or any security agreement or similar instrument covering any Article 9 Collateral with the United States Patent and Trademark Office or the United States Copyright Office or (iii) any assignment in which any
Pledgor assigns any Article 9 Collateral or any security agreement or similar instrument covering any Article 9 Collateral with any foreign governmental, municipal or other office, which financing statement or analogous document,
assignment, security agreement or similar instrument is still in effect, except, in each case, for Permitted Liens. 
 (e) None of the
Pledgors holds any Commercial Tort Claim reasonably estimated to exceed $3,000,000 individually as of the Closing Date except as indicated on Schedule II to this Agreement. 

  
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 SECTION 4.03. Covenants. 

(a) Each Pledgor agrees to furnish to the Agent prompt written notice of any change (i) in any Pledgor’s corporate or organization
name, (ii) in any Pledgor’s identity or organizational structure, (ii) in any Pledgor’s organizational identification number, (iv) in any Pledgor’s jurisdiction of organization or (v) in the location of the chief
executive office of any Pledgor that is not a registered organization; provided that such Pledgor agrees not to effect or permit any such change unless all filings have been made, or will have been made within any applicable statutory period
following such change, under the Uniform Commercial Code or otherwise that are required in order for the Agent to continue at all times following such change to have a valid, legal and perfected security interest in all the Article 9 Collateral
in which a security interest may be perfected by such filing, for the benefit of the Secured Parties. Each Pledgor agrees promptly to notify the Agent if any material portion of the Article 9 Collateral is damaged or destroyed. 

(b) Subject to the rights of such Pledgor under the Loan Documents and each Other First Lien Agreement then in effect to Dispose of Collateral,
each Pledgor shall, at its own expense, use commercially reasonable efforts to defend title to the Article 9 Collateral against all persons and to defend the Security Interest of the Agent, for the benefit of the Secured Parties, in the
Article 9 Collateral and the priority thereof against any Lien that is not a Permitted Lien. 
 (c) Each Pledgor agrees, at its own
expense, to execute, acknowledge, deliver and cause to be duly filed all such further instruments and documents and take all such actions as the Agent may from time to time reasonably request to better assure, preserve, protect and perfect the
Security Interest and the rights and remedies created hereby, including the payment of any fees and taxes required in connection with the execution and delivery of this Agreement and the granting of the Security Interest and the filing of any
Uniform Commercial Code financing statements (including fixture filings with respect to any Mortgaged Properties) or other documents in connection herewith or therewith, all in accordance with the terms hereof and the terms of the Credit Agreement
and each Other First Lien Agreement then in effect. 
 Without limiting the generality of the foregoing, each Pledgor hereby authorizes the
Agent, with prompt notice thereof to the Pledgors, to supplement this Agreement by supplementing Schedule IV or adding additional schedules hereto to specifically identify any asset or item that may constitute Copyrights, Patents or
Trademarks; provided that any Pledgor shall have the right, exercisable within 90 days after the Borrower has been notified by the Agent of the specific identification of such Article 9 Collateral (or such later date as the Agent may
agree), to advise the Agent in writing of any inaccuracy of the representations and warranties made by such Pledgor hereunder with respect to such Collateral. Each Pledgor agrees that it will use its commercially reasonable efforts to take such
action as shall be necessary in order that all representations and warranties hereunder shall be true and correct with respect to such Article 9 Collateral within 90 days after the date on which the Borrower has been notified by the Agent of the
specific identification of such Article 9 Collateral (or such later date as the Agent may agree). 

  
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 (d) After the occurrence of an Event of Default and during the continuance thereof, the Agent
shall have the right to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Article 9 Collateral, including, in the case of Accounts or Article 9
Collateral in the possession of any third person, by contacting Account Debtors or the third person possessing such Article 9 Collateral for the purpose of making such a verification. The Agent shall have the right to share any information it
gains from such inspection or verification with any Secured Party, subject to Section 9.16 (Confidentiality) of the Credit Agreement and any equivalent provision of any Other First Lien Agreement. 

(e) At its option, the Agent may discharge any past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at
any time levied or placed on the Article 9 Collateral and that is not a Permitted Lien, and may pay for the maintenance and preservation of the Article 9 Collateral to the extent any Pledgor fails to do so as required by the Credit
Agreement, each Other First Lien Agreement or this Agreement, and each Pledgor jointly and severally agrees to reimburse the Agent on demand for any reasonable and documented payment made or any reasonable and documented out-of-pocket expense
incurred by the Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.03(e) shall be interpreted as excusing any Pledgor from the performance of, or imposing any obligation on the Agent
or any Secured Party to cure or perform, any covenants or other promises of any Pledgor with respect to taxes, assessments, charges, fees, Liens, security interests or other encumbrances and maintenance as set forth herein or in the other Loan
Documents or any Other First Lien Agreement. 
 (f) Each Pledgor (rather than the Agent or any Secured Party) shall remain liable for the
observance and performance of all the conditions and obligations to be observed and performed by it under each contract, agreement or instrument relating to the Article 9 Collateral and each Pledgor jointly and severally agrees to indemnify and
hold harmless the Agent and the other Secured Parties from and against any and all liability for such performance. 
 (g) None of the
Pledgors shall make or permit to be made an assignment, pledge or hypothecation of the Article 9 Collateral or shall grant any other Lien in respect of the Article 9 Collateral, except as not prohibited by the Credit Agreement and any
Other First Lien Agreement. None of the Pledgors shall make or permit to be made any transfer of the Article 9 Collateral and each Pledgor shall remain at all times in possession of the Article 9 Collateral owned by it, except as not prohibited by
the Credit Agreement and any Other First Lien Agreement. Notwithstanding the foregoing, if the Agent shall have notified the Pledgors in writing that an Event of Default under clause (b), (c), (h) or (i) of Section 7.01 of the
Credit Agreement or the equivalent provisions of any Other First Lien Agreement shall have occurred and be continuing, and during the continuance thereof, the Pledgors shall not Dispose of any Article 9 Collateral to the extent requested by the
Agent in writing, unless such Disposition is not otherwise prohibited by the Credit Agreement and each Other First Lien Agreement then in effect during an Event of Default under clause (b), (c), (h) or (i) of Section 7.01 of the
Credit Agreement or the equivalent provisions of such Other First Lien Agreements. 
 (h) None of the Pledgors will, without the Agent’s
prior written consent (which consent shall not be unreasonably withheld), grant any extension of the time of payment of any Accounts included in the Article 9 Collateral, compromise, compound or settle the same for less than the full amount
thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of
business and consistent with prudent business practices, except as not prohibited by the Credit Agreement and any Other First Lien Agreement. 

  
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 (i) Each Pledgor irrevocably makes, constitutes and appoints the Agent (and all officers,
employees or agents designated by the Agent) as such Pledgor’s true and lawful agent (and attorney-in-fact) for the purpose, during the continuance of an Event of Default, of making, settling and adjusting claims in respect of Article 9
Collateral under policies of insurance, endorsing the name of such Pledgor on any check, draft, instrument or other item of payment for the proceeds of such policies of insurance and for making all determinations and decisions with respect thereto.
In the event that any Pledgor at any time or times shall fail to obtain or maintain any of the policies of insurance required by the Loan Documents or any Other First Lien Agreement, or to pay any premium in whole or part relating thereto, the Agent
may, without waiving or releasing any obligation or liability of the Pledgors hereunder or any Event of Default, in its sole discretion, obtain and maintain such policies of insurance and pay such premium and take any other actions with respect
thereto as the Agent reasonably deems advisable. All sums disbursed by the Agent in connection with this Section 4.03(i), including reasonable and documented attorneys’ fees, court costs, expenses and other charges relating thereto, shall
be payable, upon demand, by the Pledgors to the Agent and shall be additional Secured Obligations secured hereby. 
 SECTION 4.04. Other
Actions. In order to further ensure the attachment, perfection and priority of, and the ability of the Agent to enforce, for the benefit of the Secured Parties, the Agent’s security interest in the Article 9 Collateral, each Pledgor
agrees, in each case at such Pledgor’s own expense, to take the following actions with respect to the following Article 9 Collateral: 

(a) Instruments and Tangible Chattel Paper. If any Pledgor shall at any time own or acquire any Instruments (other than any Instruments
constituting Pledged Debt, which are governed by Article II, and other than Excluded Securities or checks received and processed in the ordinary course of business) or Tangible Chattel Paper evidencing an amount in excess of $3,000,000, such Pledgor
shall promptly (and in any event within 30 days of its acquisition or such longer period as the Agent may permit in its reasonable discretion) notify the Agent and promptly (and in any event within 5 days following such notice or such longer period
as the Agent may permit in its reasonable discretion) endorse, assign and deliver the same to the Agent, accompanied by such instruments of transfer or assignment duly executed in blank as the Agent may from time to time reasonably request. 

(b) Commercial Tort Claims. If any Pledgor shall at any time hold or acquire a Commercial Tort Claim in an amount reasonably estimated
to exceed $3,000,000, such Pledgor shall promptly notify the Agent thereof in a writing signed by such Pledgor, including a summary description of such claim, and deliver to the Agent in writing a supplement to Schedule II including such
description. 

  
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 SECTION 4.05. Covenants Regarding Patent, Trademark and Copyright Collateral. Except as
not prohibited by the Loan Documents or, after the termination of the Credit Agreement, each Other First Lien Agreement: 
 (a) Each Pledgor
agrees that it will not knowingly do any act or omit to do any act (and will exercise commercially reasonable efforts to prevent its licensees from doing any act or omitting to do any act) whereby any Patent material to the normal conduct of such
Pledgor’s business may become prematurely invalidated or dedicated to the public, and agrees that it shall take commercially reasonable steps with respect to any material products covered by any such Patent as necessary and sufficient to
establish and preserve its rights under applicable patent laws. 
 (b) Each Pledgor will, and will use its commercially reasonable efforts to
cause its licensees or its sublicensees to, for each Trademark material to the normal conduct of such Pledgor’s business, (i) maintain such Trademark in full force free from any adjudication of abandonment or invalidity for non-use,
(ii) maintain the quality of products and services offered under such Trademark, (iii) display such Trademark with notice of federal or foreign registration or claim of trademark or service mark as required under applicable law and
(iv) not knowingly use or knowingly permit its licensees’ use of such Trademark in violation of any third-party rights. 
 (c) Each
Pledgor will, and will use its commercially reasonable efforts to cause its licensees or its sublicensees to, for each work covered by a material Copyright necessary to the normal conduct of such Pledgor’s business that it publishes, displays
and distributes, use copyright notice as required under applicable copyright laws. 
 (d) Each Pledgor shall notify the Agent promptly if it
knows that any Patent, Trademark or Copyright material to the normal conduct of such Pledgor’s business may imminently become prematurely abandoned, lapsed or dedicated to the public, or of any materially adverse determination or development,
excluding office actions and similar determinations or developments in the United States Patent and Trademark Office, United States Copyright Office or any court, regarding such Pledgor’s ownership of any such material Patent, Trademark or
Copyright or its right to register or to maintain the same. 
 (e) Each Pledgor, either itself or through any agent, employee, licensee or
designee, shall (i) inform the Agent on an annual basis at or about the time of delivery of financial statements for such year (commencing with the financial statements for the fiscal year ended December 31, 2014) of each application for,
or registration or issuance of, any Patent or Trademark with the United States Patent and Trademark Office and each registration of any Copyright with the United States Copyright Office, in each case, filed by or on behalf of, or issued to or
acquired by, any Pledgor during the preceding twelve-month period, and (ii) upon the reasonable request of the Agent, execute and deliver any and all agreements, instruments, documents and papers as the Agent may reasonably request to evidence
the Agent’s security interest in such Patent, Trademark or Copyright; provided, that the provisions hereof shall automatically apply to any such Patent, Trademark or Copyright and any such Patent, Trademark or Copyright shall
automatically constitute Collateral as if such would have constituted Collateral at the time of execution hereof and be subject to the Lien and Security Interest created by this Agreement without further action by any party. 

  
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 (f) Each Pledgor shall exercise its reasonable business judgment consistent with its practice in
any proceeding before the United States Patent and Trademark Office or the United States Copyright Office with respect to maintaining and pursuing each material application relating to any Patent, Trademark and/or Copyright (and obtaining the
relevant grant or registration) material to the normal conduct of such Pledgor’s business and to maintain (i) each issued Patent and (ii) the registrations of each Trademark and each Copyright, which in each case is material to the
normal conduct of such Pledgor’s business, including, when applicable and necessary in such Pledgor’s reasonable business judgment, timely filings of applications for renewal, affidavits of use, affidavits of incontestability and payment
of maintenance fees, and, if any Pledgor believes necessary in its reasonable business judgment, to initiate opposition, interference and cancellation proceedings against third parties. 

(g) In the event that any Pledgor knows or has reason to know that any Article 9 Collateral consisting of a Patent, Trademark or Copyright
material to the normal conduct of its business has been materially infringed, misappropriated or diluted by a third party, such Pledgor shall promptly notify the Agent and shall, if such Pledgor deems it necessary in its reasonable business
judgment, promptly sue and recover any and all damages, and take such other actions as are reasonably appropriate under the circumstances. 

(h) Upon and during the continuance of an Event of Default, at the request of the Agent, each Pledgor shall use commercially reasonable efforts
to obtain all requisite consents or approvals from the licensor under each Copyright License, Patent License or Trademark License to effect the assignment of all such Pledgor’s right, title and interest thereunder to (in the Agent’s sole
discretion) the designee of the Agent or the Agent. 
 ARTICLE V. 

Remedies 
 SECTION 5.01.
Remedies Upon Default. In accordance with, and to the extent consistent with, the terms of any applicable Intercreditor Agreement and applicable Requirements of Law (including Gaming Laws), the Agent may take any action specified in this
Section 5.01. Upon the occurrence and during the continuance of an Event of Default, each Pledgor agrees to deliver each item of Collateral to the Agent on demand, and it is agreed that the Agent shall have the right to take any of or all the
following actions at the same or different times: (a) with respect to any Article 9 Collateral consisting of Intellectual Property, on demand, to cause the Security Interest to become an assignment, transfer and conveyance of any of
or all such Article 9 Collateral by the applicable Pledgors to the Agent or to license or sublicense (subject to any such licensee’s obligation to maintain the quality of goods and services provided under any Trademark consistent with the
quality of such goods and services provided by the Pledgors immediately prior to such Event of Default), whether general, special or otherwise, and whether on an exclusive or a nonexclusive basis, any such Article 9 Collateral throughout the
world on such terms and conditions and in such manner as the Agent shall determine (other than in violation of any then-existing licensing arrangements to the extent that waivers thereunder cannot be obtained) and (b) with or without legal
process and with or without prior notice or demand for performance, to take possession of the Article 9 Collateral and without liability for trespass to the applicable Pledgor to enter any premises where the Article 9 Collateral may be
located for the purpose of taking possession of or removing the Article 9 Collateral and, generally, to exercise any and all rights afforded to a secured party under the applicable Uniform 

  
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Commercial Code or other applicable law. Without limiting the generality of the foregoing, each Pledgor agrees that the Agent shall have the right, subject to the requirements of applicable law,
to sell or otherwise dispose of all or any part of the Collateral at a public or private sale or at any broker’s board or on any securities exchange, for cash, upon credit or for future delivery as the Agent shall deem appropriate. The Agent
shall be authorized in connection with any sale of a security (if it deems it advisable to do so) pursuant to the foregoing to restrict the prospective bidders or purchasers to persons who represent and agree that they are purchasing such security
for their own account, for investment, and not with a view to the distribution or sale thereof. Upon consummation of any such Disposition of Collateral pursuant to this Section 5.01, the Agent shall have the right to assign, transfer and
deliver to the purchaser or purchasers thereof the Collateral so sold. Each such purchaser at any such Disposition shall hold the property sold absolutely, free from any claim or right on the part of any Pledgor, and each Pledgor hereby waives and
releases (to the extent permitted by law) all rights of redemption, stay, valuation and appraisal that such Pledgor now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. 

The Agent shall give the applicable Pledgors 10 days’ written notice (which each Pledgor agrees is reasonable notice within the meaning
of Section 9-611 of the New York UCC or its equivalent in other jurisdictions) of the Agent’s intention to make any Disposition of Collateral. Such notice, in the case of a public sale, shall state
the time and place for such sale and, in the case of a sale at a broker’s board or on a securities exchange, shall state the board or exchange at which such sale is to be made and the day on which the Collateral, or portion thereof, will first
be offered for sale at such board or exchange. Any such public sale shall be held at such time or times within ordinary business hours and at such place or places as the Agent may fix and state in the notice (if any) of such sale. At any such sale,
the Collateral, or the portion thereof, to be sold may be sold in one lot as an entirety or in separate parcels, as the Agent may (in its sole and absolute discretion) determine. The Agent shall not be obligated to make any sale of any Collateral if
it shall determine not to do so, regardless of the fact that notice of sale of such Collateral shall have been given. The Agent may, without notice or publication, adjourn any public or private sale or cause the same to be adjourned from time to
time by announcement at the time and place fixed for sale, and such sale may, without further notice, be made at the time and place to which the same was so adjourned. In the case of any sale of all or any part of the Collateral made on credit or
for future delivery, the Collateral so sold may be retained by the Agent until the sale price is paid by the purchaser or purchasers thereof, but the Agent shall not incur any liability in the event that any such purchaser or purchasers shall fail
to take up and pay for the Collateral so sold and, in the case of any such failure, such Collateral may be sold again upon notice given in accordance with provisions above. At any public (or, to the extent permitted by law, private) sale made
pursuant to this Section 5.01, any Secured Party may bid for or purchase for cash, free (to the extent permitted by law) from any right of redemption, stay, valuation or appraisal on the part of any Pledgor (all such rights being also hereby
waived and released to the extent permitted by law), the Collateral or any part thereof offered for sale and such Secured Party may, upon compliance with the terms of sale, hold, retain and Dispose of such property in accordance with
Section 5.02 without further accountability to any Pledgor therefor. For purposes hereof, a written agreement to purchase the Collateral or any portion thereof shall be treated as a sale thereof; the Agent shall be free to carry out such sale
pursuant to such agreement and no Pledgor shall be entitled to the return of the Collateral or any portion thereof subject 

  
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thereto, notwithstanding the fact that after the Agent shall have entered into such an agreement all Events of Default shall have been remedied and the Secured Obligations paid in full. As an
alternative to exercising the power of sale herein conferred upon it, the Agent may proceed by a suit or suits at law or in equity to foreclose under this Agreement and to sell the Collateral or any portion thereof pursuant to a judgment or decree
of a court or courts having competent jurisdiction or pursuant to a proceeding by a court-appointed receiver. To the extent provided in this Section 5.01, any Disposition pursuant to the provisions of this Section 5.01 shall be deemed to
conform to the commercially reasonable standards as provided in Section 9-610(b) of the New York UCC or its equivalent in other jurisdictions. 

SECTION 5.02. Application of Proceeds. The Agent shall, subject to any applicable Intercreditor Agreement, promptly apply the proceeds,
moneys or balances of any collection or sale of Collateral realized through the exercise by the Agent of its remedies hereunder, as well as any Collateral consisting of cash at any time when remedies are being exercised hereunder, as follows: 

FIRST, to the payment of all out-of-pocket costs and expenses incurred by the Agent in connection with such collection or sale
or otherwise in connection with this Agreement, any other Loan Document, any Other First Lien Agreement or any of the Secured Obligations, including all court costs and the fees and expenses of its agents and legal counsel, the repayment of all
advances made by the Agent hereunder or under any other Loan Document or any Other First Lien Agreement on behalf of any Pledgor, any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any
other Loan Document or any Other First Lien Agreement, and other fees, indemnities and other amounts owing or reimbursable to the Agent under any Loan Document or any Other First Lien Agreement in its capacity as such; 

SECOND, to the payment in full of the Secured Obligations secured by such Collateral (the amounts so applied to be distributed
among the Series of Secured Obligations pro rata based on the respective amounts of such Secured Obligations owed to the applicable Secured Parties in respect of each Series on the date of any such distribution (or in accordance with such
other method of distribution as may be set forth in any applicable Intercreditor Agreement), with (x) the portion thereof distributed to the Credit Agreement Secured Parties to be further distributed in accordance with the order of priority set
forth in Section 7.02 of the Credit Agreement and (y) the portion thereof distributed to the Secured Parties of any other Series to be further distributed in accordance with the applicable provisions of the Other First Lien Agreements
governing such Series); and 
 THIRD, to the Pledgors, their successors or assigns, or as a court of competent jurisdiction
may otherwise direct; 
 provided, that in no event shall the proceeds of any collection or sale of any Specified Excluded Collateral be applied to
the relevant Series of Secured Obligations under any Other First Lien Agreement. 

  
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 The Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or balances
in accordance with this Agreement. Upon the request of the Agent prior to any distribution under this Section 5.02, each Authorized Representative shall provide to the Agent certificates, in form and substance reasonably satisfactory to the
Agent, setting forth the respective amounts referred to in this Section 5.02 that each applicable Secured Party or its Authorized Representative believes it is entitled to receive, and the Agent shall be fully entitled to rely on such
certificates. Upon any sale of Collateral by the Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the purchase money by the Agent or of the officer making the sale shall be a sufficient
discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Agent or such officer or be answerable in any way
for the misapplication thereof. 
 SECTION 5.03. Grant of License to Use Intellectual Property. For the purpose of enabling the Agent
to exercise rights and remedies under this Agreement at such time as the Agent shall be lawfully entitled to exercise such rights and remedies, each Pledgor grants (such grant effective solely after the occurrence and during the continuance of an
Event of Default) to (in the Agent’s sole discretion) a designee of the Agent or the Agent, for the benefit of the Secured Parties, an irrevocable, non-exclusive license (exercisable without payment of royalty or other compensation to any
Pledgor) to use, license or sublicense any of the Article 9 Collateral consisting of Intellectual Property now owned or hereafter acquired by such Pledgor, wherever the same may be located, and including in such license reasonable access to all
media in which any of the licensed items may be recorded or stored and to all computer software and programs used for the compilation or printout thereof, the right to prosecute and maintain all Intellectual Property and the right to sue for past
infringement of the Intellectual Property; provided, however, that nothing in this Section 5.03 shall require Pledgors to grant any license that is prohibited by any rule of law, statute or regulation, or is prohibited by, or
constitutes a breach or default under or results in the termination of, any contract, license, instrument or other agreement with an unaffiliated third party, to the extent not prohibited by the Loan Documents and each Other First Lien Agreement,
with respect to such Intellectual Property Collateral; and, provided, further, that such licenses to be granted hereunder shall be subject to (i) the maintenance of quality standards with respect to the goods and services on which
Trademarks are used sufficient to preserve the validity of such Trademarks and (ii) those exclusive Copyright Licenses, Patent Licenses and Trademark Licenses granted by the Pledgors in effect on the date hereof and those granted by any Pledgor
hereafter, as permitted under the Loan Documents and any Other First Lien Agreement, to the extent conflicting. The use of such license by the Agent may be exercised solely upon the occurrence and during the continuation of an Event of Default and
subject to any Intercreditor Agreement; provided that any license, sublicense or other transaction entered into by the Agent in accordance herewith shall be binding upon the Pledgors notwithstanding any subsequent cure of an Event of Default.
Furthermore, each Pledgor hereby grants to the Agent an absolute power of attorney to sign, upon the occurrence and during the continuance of any Event of Default, any document which may be required by the United States Copyright Office or the
United States Patent and Trademark Office or any state office in order to effect the potential license granted herein and record the same. 

  
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 SECTION 5.04. Securities Act, Etc. In view of the position of the Pledgors in relation to
the Pledged Collateral, or because of other current or future circumstances, a question may arise under the Securities Act of 1933, as now or hereafter in effect, or any similar federal statute hereafter enacted analogous in purpose or effect (such
Act and any such similar statute as from time to time in effect being called the “Federal Securities Laws”) with respect to any Disposition of the Pledged Collateral permitted hereunder. Each Pledgor understands that compliance with
the Federal Securities Laws might very strictly limit the course of conduct of the Agent if the Agent were to attempt to Dispose of all or any part of the Pledged Collateral, and might also limit the extent to which or the manner in which any
subsequent transferee of any Pledged Collateral could Dispose of the same. Similarly, there may be other legal restrictions or limitations affecting the Agent in any attempt to Dispose of all or part of the Pledged Collateral under applicable Blue
Sky or other state securities laws or similar laws analogous in purpose or effect. Each Pledgor acknowledges and agrees that in light of such restrictions and limitations, the Agent, subject to any applicable Intercreditor Agreement, in its sole and
absolute discretion, (a) may proceed to make such a sale whether or not a registration statement for the purpose of registering such Pledged Collateral or part thereof shall have been filed under the Federal Securities Laws or, to the extent
applicable, Blue Sky or other state securities laws and (b) may approach and negotiate with a single potential purchaser to effect such sale. Each Pledgor acknowledges and agrees that any such sale might result in prices and other terms less
favorable to the seller than if such sale were a public sale without such restrictions. In the event of any such sale, the Agent shall incur no responsibility or liability for selling all or any part of the Pledged Collateral at a price that the
Agent, subject to any applicable Intercreditor Agreement, in its sole and absolute discretion, may in good faith deem reasonable under the circumstances, notwithstanding the possibility that a substantially higher price might have been realized if
the sale were deferred until after registration as aforesaid or if more than a single purchaser were approached. The provisions of this Section 5.04 will apply notwithstanding the existence of a public or private market upon which the
quotations or sales prices may exceed substantially the price at which the Agent sells. 
 ARTICLE VI. 

Miscellaneous 
 SECTION
6.01. Notices. All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in writing and given as provided in Section 9.01 of the Credit Agreement (whether or not then in effect), and all notices
to any holder of obligations under any Other First Lien Agreements shall be given at its address set forth in the Other First Lien Secured Party Consent or in the First Lien Intercreditor Agreement (upon and during the effectiveness thereof), in
each case of the foregoing, as such address may be changed by written notice to the Agent and the Borrower. All communications and notices hereunder to any Pledgor shall be given to it in care of the Borrower, with such notice to be given as
provided in Section 9.01 of the Credit Agreement (whether or not then in effect). 
 SECTION 6.02. Security Interest Absolute.
To the extent not prohibited by applicable law, all rights of the Agent hereunder, the Security Interest, the security interest in the Pledged Collateral and all obligations of each Pledgor hereunder shall be absolute and unconditional irrespective
of (a) any lack of validity or enforceability of any Loan Document, any other agreement with respect to any of the Secured Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time,
manner or place of payment of, or in any other term of, all or any of the Secured Obligations, or any other amendment or waiver of or 

  
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any consent to any departure from any Loan Document or any other agreement or instrument, (c) any exchange, release or non-perfection of any Lien on other collateral, or any release or
amendment or waiver of or consent under or departure from any guarantee, securing or guaranteeing all or any of the Secured Obligations or (d) any other circumstance that might otherwise constitute a defense available to, or a discharge of, any
Pledgor in respect of the Secured Obligations or this Agreement (other than a defense of payment or performance). 
 SECTION 6.03.
Limitation By Law. All rights, remedies and powers provided in this Agreement may be exercised only to the extent that the exercise thereof does not violate any applicable provision of law or regulation (including any Gaming Law), and all the
provisions of this Agreement are intended to be subject to all applicable mandatory provisions of law or regulation (including any Gaming Law) that may be controlling and to be limited to the extent necessary so that they shall not render this
Agreement invalid, unenforceable, in whole or in part, or not entitled to be recorded, registered or filed under the provisions of any applicable law or regulation (including any Gaming Law). 

SECTION 6.04. Binding Effect; Several Agreement. This Agreement shall become effective as to any party to this Agreement when a
counterpart hereof executed on behalf of such party shall have been delivered to the Agent and a counterpart hereof shall have been executed on behalf of the Agent, and thereafter shall be binding upon such party and the Agent and their respective
permitted successors and assigns, and shall inure to the benefit of such party, the Agent and the other Secured Parties and their respective permitted successors and assigns, except that no party shall have the right to assign or transfer its rights
or obligations hereunder or any interest herein or in the Collateral (and any such assignment or transfer shall be void) except as not prohibited by this Agreement or the Credit Agreement or, after the termination of the Credit Agreement, any Other
First Lien Agreement. This Agreement shall be construed as a separate agreement with respect to each party and may be amended, modified, supplemented, waived or released in accordance with Section 6.09 or 6.15, as applicable. 

SECTION 6.05. Successors and Assigns. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be
deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of any Pledgor or the Agent that are contained in this Agreement shall bind and inure to the benefit of their respective
permitted successors and assigns. 
 SECTION 6.06. Agent’s Fees and Expenses. 

(a) The parties hereto agree that the Agent shall be entitled to reimbursement of its expenses incurred hereunder by the Pledgors, and the
Agent and other Indemnitees shall be indemnified by the Pledgors, in each case of this clause (a), mutatis mutandis, as provided in Section 9.05 of the Credit Agreement and the equivalent provision of any Other First Lien Agreement. 

(b) Any such amounts payable as provided hereunder shall be additional Secured Obligations secured hereby and by the other Security Documents.
The provisions of this Section 6.06 shall remain operative and in full force and effect regardless of the termination of this Agreement, any other Loan Document or any Other First Lien Agreement, the

  
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consummation of the transactions contemplated hereby, the repayment of any of the Secured Obligations, the invalidity or unenforceability of any term or provision of this Agreement, any other
Loan Document or any Other First Lien Agreement, or any investigation made by or on behalf of the Agent or any other Secured Party. All amounts due under this Section 6.06 shall be payable within fifteen days (or such longer period as the Agent
may agree) of written demand therefor, accompanied by reasonable documentation with respect to any reimbursement, indemnification or other amount requested. 

(c) The agreements in this Section 6.06 shall survive the resignation of the Agent and the termination of this Agreement. 

SECTION 6.07. Agent Appointed Attorney-in-Fact. Each Pledgor hereby appoints the Agent the attorney-in-fact of such Pledgor for the
purpose of carrying out the provisions of this Agreement and, upon the occurrence and during the continuance of an Event of Default, taking any action and executing any instrument that the Agent may deem necessary or advisable to accomplish the
purposes hereof, which appointment is irrevocable and coupled with an interest. Without limiting the generality of the foregoing, subject to any applicable Requirements of Law (including Gaming Laws) and any applicable Intercreditor Agreement, the
Agent shall have the right, upon the occurrence and during the continuance of an Event of Default, with full power of substitution either in the Agent’s name or in the name of such Pledgor, (a) to receive, endorse, assign or deliver any
and all notes, acceptances, checks, drafts, money orders or other evidences of payment relating to the Collateral or any part thereof; (b) to demand, collect, receive payment of, give receipt for and give discharges and releases of all or any
of the Collateral; (c) to ask for, demand, sue for, collect, receive and give acquittance for any and all moneys due or to become due under and by virtue of any Collateral; (d) to sign the name of any Pledgor on any invoice or bill of
lading relating to any of the Collateral; (e) to send verifications of Accounts to any Account Debtor; (f) to commence and prosecute any and all suits, actions or proceedings at law or in equity in any court of competent jurisdiction to
collect or otherwise realize on all or any of the Collateral or to enforce any rights in respect of any Collateral; (g) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any of the
Collateral; (h) to notify, or to require any Pledgor to notify, Account Debtors to make payment directly to the Agent; and (i) to use, sell, assign, transfer, pledge, make any agreement with respect to or otherwise deal with all or any of
the Collateral, and to do all other acts and things necessary to carry out the purposes of this Agreement, as fully and completely as though the Agent were the absolute owner of the Collateral for all purposes; provided that nothing herein
contained shall be construed as requiring or obligating the Agent to make any commitment or to make any inquiry as to the nature or sufficiency of any payment received by the Agent, or to present or file any claim or notice, or to take any action
with respect to the Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The Agent and the other Secured Parties shall be accountable only for amounts actually received as a result of
the exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to any Pledgor for any act or failure to act hereunder, except for their own gross negligence or willful
misconduct. 

  
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 SECTION 6.08. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
UNDER THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 6.09. Waivers;
Amendment; Extension of Time. 
 (a) No failure or delay by the Agent , any Issuing Bank, any Lender or any other Secured Party in
exercising any right, power or remedy hereunder or under any other Loan Document or any Other First Lien Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy, or any abandonment or
discontinuance of steps to enforce such a right, power or remedy, preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The rights, powers and remedies of the Agent , any Issuing Bank, the Lenders or any
other Secured Party hereunder and under the other Loan Documents and any Other First Lien Agreement are cumulative and are not exclusive of any rights, powers or remedies that they would otherwise have. No waiver of any provision of this Agreement
or consent to any departure by any Pledgor therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 6.09, and then such waiver or consent shall be effective only in the specific instance
and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan, the increase of any Other First Lien Obligations or the issuance of a Letter of Credit shall not be construed as a waiver of any Default or
Event of Default, regardless of whether the Agent, any Lender, any Issuing Bank or any other Secured Party may have had notice or knowledge of such Default or Event of Default at the time. No notice or demand on any Pledgor in any case shall entitle
any Pledgor to any other or further notice or demand in similar or other circumstances. 
 (b) Neither this Agreement nor any provision
hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Agent and the Pledgor or Pledgors with respect to which such waiver, amendment or modification is to apply, subject to any consent
required in accordance with Section 9.08 of the Credit Agreement and any equivalent provision in each applicable Other First Lien Agreement and, by each other Authorized Representative to the extent required by (and in accordance with) such
applicable Other First Lien Agreement, or, in each case, as otherwise provided in any applicable Intercreditor Agreement. The Agent may conclusively rely on a certificate of an officer of the Borrower as to whether any amendment contemplated by this
Section 6.09(b) is permitted. 
 (c) Notwithstanding anything to the contrary contained herein, the Agent may grant extensions of time
or waivers of the requirement for the creation or perfection of security interests in or the obtaining of insurance (including title insurance) or surveys with respect to particular assets (including extensions beyond the Closing Date for the
perfection of security interests in the assets of the Pledgors on such date) where it reasonably determines, in consultation with the Borrower, that perfection or obtaining of such items cannot be accomplished without undue effort or expense by the
time or times at which it would otherwise be required by this Agreement, any other Loan Documents or any Other First Lien Agreement. 

SECTION 6.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH 

  
 30 

 
THIS AGREEMENT, ANY OTHER LOAN DOCUMENTS OR ANY OTHER FIRST LIEN AGREEMENT. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 6.10. 
 SECTION 6.11. Severability. In the event any one or more of
the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby.
The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable
provisions. 
 SECTION 6.12. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall constitute
an original but all of which when taken together shall constitute but one contract, and shall become effective as provided in Section 6.04. Delivery of an executed counterpart to this Agreement by facsimile or other electronic transmission
shall be as effective as delivery of a manually signed original. 
 SECTION 6.13. Headings. Article and Section headings and the
Table of Contents used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

SECTION 6.14. Jurisdiction; Consent to Service of Process. 

(a) Subject to the final sentence of this clause (a), each of the parties hereto hereby irrevocably and unconditionally submits, for itself and
its property, to the exclusive jurisdiction of any New York State court or federal court of the United States of America sitting in New York County, and of the United States District Court of the Southern District of New York, and any appellate
court from any thereof, in any action or proceeding arising out of or relating to this Agreement, any other Loan Document, any Other First Lien Agreement or the transactions relating hereto or thereto, or for recognition or enforcement of any
judgment, and each of the parties hereto hereby irrevocably and unconditionally submits to the jurisdiction of such courts and agrees that all claims in respect of any such action, litigation or proceeding may be heard and determined in such
New York State court or, to the fullest extent permitted by applicable law, in such federal court. Each of the parties hereto agrees that a final judgment in any such action, litigation or proceeding shall be conclusive and may be enforced in
other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement, any other Loan Document or any Other First Lien Agreement shall affect any right that the Agent or any other Secured Party may otherwise
have to bring any action or proceeding relating to this Agreement, any other Loan Document or any Other First Lien Agreement against any Pledgor or or its properties in the courts of any jurisdiction. 

  
 31 

 (b) Each party to this Agreement hereby irrevocably and unconditionally waives, to the fullest
extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement, any other Loan Document or any Other First Lien
Agreement in any New York State or federal court of the United States of America sitting in New York County, and any appellate court from any thereof. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the
defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 
 (c) Each party to this Agreement
irrevocably consents to service of process in the manner provided for notices in Section 6.01. Nothing in this Agreement, any other Loan Document or any Other First Lien Agreement will affect the right of any party to this Agreement to serve
process in any other manner permitted by law. 
 SECTION 6.15. Termination or Release. 

(a) This Agreement and the pledges made by the Pledgors herein and all other security interests granted by the Pledgors hereby shall
automatically terminate and be released upon the occurrence of the Termination Date or, if any Other First Lien Obligations are outstanding on the Termination Date, the date after the Termination Date when all such Other First Lien Obligations
(other than contingent or unliquidated obligations or liabilities not then due and any other obligations that, by the terms of any Other First Lien Agreements, are not required to be paid in full prior to termination and release of the Collateral)
have been paid in full and the Secured Parties have no further commitment to extend credit under any Other First Lien Agreement. 
 (b) A
Subsidiary Party shall automatically be released from its obligations hereunder and the security interests in the Collateral of such Subsidiary Party shall be automatically released upon the consummation of any transaction not prohibited by the
Credit Agreement and each Other First Lien Agreement then in effect as a result of which such Subsidiary Party ceases to be a Subsidiary of the Borrower or otherwise becomes an Excluded Subsidiary or ceases to be a Guarantor or is otherwise released
from its obligations under the Subsidiary Guarantee Agreement, all without delivery of any instrument or performance of any act by any party, and all rights to the applicable portions of the Collateral shall revert to such Subsidiary Party. 

(c) The security interest in such Collateral shall be automatically released, all without delivery of any instrument or performance of any act
by any party, (i) upon any sale or other transfer by any Pledgor of any Collateral that is not prohibited by the Credit Agreement and each Other First Lien Agreement to any person that is not a Pledgor, (ii) upon the effectiveness of any
written consent to the release of the security interest granted hereby in any Collateral pursuant to Section 9.08 of the Credit Agreement and any equivalent provision of each applicable Other First Lien Agreement (in each case, to the extent
required thereby), or (iii) as otherwise may be provided in any applicable Intercreditor Agreements. 
 (d) Solely with respect to the
Credit Agreement Secured Obligations, a Pledgor shall automatically be released from its obligations hereunder and/or the security interests in any Collateral securing Credit Agreement Secured Obligations shall in each case be automatically released
upon the occurrence of any of the circumstances set forth in Section 9.18 of the Credit Agreement without delivery of any instrument or performance of any act by any party, and all rights to the Collateral shall revert to any applicable
Pledgor. 

  
 32 

 (e) Solely with respect to any Series of Other First Lien Obligations, a Pledgor shall
automatically be released from its obligations hereunder and/or the security interests in any Collateral securing such Series of Other First Lien Obligations shall in each case be automatically released upon the occurrence of any of the
circumstances set forth in any provision governing release of collateral in the applicable Other First Lien Agreement governing such Series of Other First Lien Obligations, all without delivery of any instrument or performance of any act by any
party, and all rights to the Collateral shall revert to any applicable Pledgor. 
 (f) If any Collateral shall become subject to the
automatic release provisions set forth in the First Lien Intercreditor Agreement (upon and during the effectiveness thereof), the lien created hereunder on such Collateral shall be automatically released to the extent (and only to the extent)
provided therein. 
 (g) In connection with any termination or release pursuant to this Section 6.15, the Agent shall execute and
deliver to any Pledgor, at such Pledgor’s expense, all documents (forms of which shall be reasonably acceptable to the Agent), that such Pledgor shall reasonably request to evidence such termination or release (including Uniform Commercial Code
termination statements), and will duly assign and transfer to such Pledgor, such of the Pledged Collateral that may be in the possession of the Agent and has not theretofore been sold or otherwise applied or released pursuant to this Agreement. Any
execution and delivery of documents pursuant to this Section 6.15 shall be without recourse to or warranty by the Agent. In connection with any release pursuant to this Section 6.15, the Pledgors shall be permitted to take any action in
connection therewith consistent with such release including, without limitation, the filing of Uniform Commercial Code termination statements. Upon the receipt of any necessary or proper instruments of termination, satisfaction or release prepared
by the Borrower pursuant to this Section 6.15, the Agent shall execute, deliver or acknowledge such instruments or releases (forms of which shall be reasonably acceptable to the Agent), to evidence the release of any Collateral permitted to be
released pursuant to this Agreement. The Pledgors agree to pay all reasonable and documented out-of-pocket expenses incurred by the Agent (and its representatives and counsel) in connection with the execution and delivery of such release documents
or instruments. 
 SECTION 6.16. Additional Subsidiaries. Upon execution and delivery by any Subsidiary that is required or permitted
to become a party hereto by Section 5.10 or the Collateral and Guarantee Requirement of the Credit Agreement or by any Other First Lien Agreement of an instrument substantially in the form of Exhibit I hereto (or another instrument
reasonably satisfactory to the Agent and the Borrower), subject to applicable Requirements of Law (including Gaming Laws), such Subsidiary shall become a Subsidiary Party hereunder with the same force and effect as if originally named as a
Subsidiary Party herein. The execution and delivery of any such instrument shall not require the consent of any other party to this Agreement. The rights and obligations of each party to this Agreement shall remain in full force and effect
notwithstanding the addition of any new party to this Agreement. 

  
 33 

 SECTION 6.17. Compliance with Gaming Laws. Notwithstanding anything to the contrary set
forth in this Agreement, any other Loan Document or any Other First Lien Agreement, the Agent, on behalf of the Secured Parties, acknowledges and agrees that: 

(a) the pledge of the Pledged Stock of any Pledgor that is a licensee or registered holding company under the Gaming Laws applicable in the
State of Nevada (“Nevada Gaming Laws”) (any such entity, a “Nevada Licensee”), pursuant to this Agreement, any other Loan Document or any Other First Lien Agreement, will not be effective without the prior approval
of the Gaming Authorities having jurisdiction in Nevada (the “Nevada Gaming Authorities”), and no certificates evidencing any such Pledged Stock may be delivered to the Agent until such approval has been obtained. Furthermore, no
amendment of this Agreement shall be effective until any approvals required from the Nevada Gaming Authorities under the Nevada Gaming Laws have been obtained; 

(b) in the event that Agent exercises one or more of the remedies set forth in this Agreement with respect to the Pledged Stock of any Nevada
Licensee, including, without limitation, the foreclosure, transfer, sale, distribution or other disposition of any interest therein (except back to the applicable Pledgor), the exercise of voting and consensual rights, and any other resort to or
enforcement of the security interest in such Pledged Stock, such action will require the separate and prior approval of the Nevada Gaming Authorities or the licensing or finding of suitability of the Agent or any transferee thereof unless such
licensing or suitability requirement is waived thereby; 
 (c) the Agent, and any custodial agent of Agent in the State of Nevada, will be
required to comply with the conditions, if any, imposed by the Nevada Gaming Authorities in connection with their approval of the pledge granted hereunder, including, without limitation, requirements that the Agent or its custodial agent maintain
the certificates evidencing the Pledged Stock of Nevada Licensees at a location in Nevada (notice of which the Agent or its custodial agent shall provide to the Nevada Gaming Authorities), and that the Agent or its custodial agent permit agents or
employees of the Nevada Gaming Authorities to inspect such certificates upon request; 
 (d) neither the Agent nor any custodial agent of the
Agent will be permitted to surrender possession of any Pledged Stock of Nevada Licensees to any person other than the applicable Pledgor thereof without the prior approval of the Nevada Gaming Authorities or as otherwise permitted by the Gaming
Laws; 
 (e) any approval of the Nevada Gaming Authorities of this Agreement, or any amendment hereto, does not constitute approval, either
express or implied, of the Agent to take any actions provided for in this Agreement, for which separate approval by the Nevada Gaming Authorities may be required by the Gaming Laws; 

(f) the Agent, the Secured Parties and their respective successors and assigns are subject to being called forward by the Nevada Gaming
Authorities in their sole and absolute discretion, for licensing or a finding of suitability in order to remain entitled to the benefits of this Agreement, any other Loan Documents and any Other First Lien Agreement; and 

  
 34 

 (g) in the event the Agent, on behalf of the Secured Parties, exercises one or more of the
remedies set forth in this Agreement with respect to Article 9 Collateral consisting of gaming devices, mobile gaming systems, interactive gaming systems, cashless wagering systems and associated equipment (as those terms are defined in the Gaming
Laws), including, but not limited to, the foreclosure, transfer, sale, distribution or other disposition of such Collateral, such exercise of remedies may require the separate and prior approval of the Nevada Gaming Authorities or the licensing of
the Agent or any transferee thereof pursuant to the Gaming Laws. 
 SECTION 6.18. Subject to Any Applicable Intercreditor Agreement.
Notwithstanding anything herein to the contrary, (i) the Liens and security interests granted to the Agent for the benefit of the Secured Parties pursuant to this Agreement are expressly subject to any applicable Intercreditor Agreement to the
extent provided therein and (ii) the exercise of any right or remedy by the Agent hereunder or the application of proceeds (including insurance and condemnation proceeds) of any Collateral are subject to any applicable Intercreditor Agreement
to the extent provided therein. In the event of any conflict between the terms of such applicable Intercreditor Agreement and the terms of this Agreement, the terms of such applicable Intercreditor Agreement shall govern. 

SECTION 6.19. Other First Lien Obligations. On or after the date hereof and so long as such obligations are not prohibited to be
incurred under the Credit Agreement and any Other First Lien Agreement then in effect, the Borrower may from time to time designate obligations in respect of Indebtedness to be secured (except with respect to any applicable Specified Excluded
Collateral) on a pari passu basis with the then outstanding Secured Obligations as Other First Lien Obligations hereunder by delivering to the Agent and each Authorized Representative (a) a certificate signed by a Responsible Officer of the
Borrower, (i) identifying the obligations so designated and the initial aggregate principal amount or face amount thereof, (ii) stating that such obligations are designated as Other First Lien Obligations for purposes hereof,
(iii) representing that such designation of such obligations as Other First Lien Obligations are not prohibited by the terms of the Credit Agreement and any Other First Lien Agreement then in effect and (iv) specifying the name and address
of the Authorized Representative for such obligations, (b) a fully executed Other First Lien Secured Party Consent and (c) if not already in effect, execute and deliver the First Lien Intercreditor Agreement (or a joinder thereto in the
form (and to the extent, if any) required thereby to the extent such First Lien Intercreditor Agreement is then in effect). The Agent and each Authorized Representative agree that upon the satisfaction of all conditions set forth in the preceding
sentence, (x) the Agent shall act as agent under and subject to the terms of the Security Documents for the benefit of all Secured Parties, including without limitation, any Secured Parties that hold any such Other First Lien Obligations, and
(y) the Agent and each Authorized Representative agree to the appointment, and acceptance of the appointment, of the Agent as agent for the holders of such Other First Lien Obligations as set forth in each Other First Lien Secured Party Consent
and agree, on behalf of itself and each Secured Party it represents, to be bound by this Agreement and the First Lien Intercreditor Agreement. The rights and obligations of each party to this Agreement shall remain in full force and effect
notwithstanding the addition of any new Secured Obligations to this Agreement. 

  
 35 

 SECTION 6.20. Person Serving as Agent 

On the Closing Date, the Agent hereunder is the same person that is the Administrative Agent under (and as defined in) the Credit Agreement.
Written notice of resignation by the Administrative Agent under (and as defined in) the Credit Agreement pursuant to the Credit Agreement shall also constitute notice of resignation as the Agent under this Agreement. Upon the acceptance of any
appointment as the Administrative Agent under (and as defined in) the Credit Agreement by a successor, that successor shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent pursuant
hereto. Immediately upon the occurrence of the Discharge (as such term or equivalent term is defined in the First Lien Intercreditor Agreement) of Credit Agreement Loan Obligations, if any other Series of Secured Obligations is then outstanding, the
Authorized Representative of such Series (or, if more than one such Series is outstanding, the applicable Authorized Representative determined pursuant to the terms of (and as defined in) the applicable Intercreditor Agreement) shall be deemed the
Agent for all purposes under this Agreement. The Agent immediately prior to any change in Agent pursuant to this Section 6.20 (the “Prior Agent”) shall be deemed to have assigned all of its rights, powers and duties hereunder
to the successor Agent determined in accordance with this Section 6.20 (the “Successor Agent”) and the Successor Agent shall be deemed to have accepted, assumed and succeeded to such rights, powers and duties. The Prior Agent
shall cooperate with the Pledgors and such Successor Agent to ensure that all actions are taken that are necessary or reasonably requested by the Successor Agent to vest in such Successor Agent the rights granted to the Prior Agent hereunder with
respect to the Collateral, including (a) the filing of amended financing statements in the appropriate filing offices, (b) to the extent that the Prior Agent holds, or a third party holds on its behalf, physical possession of or
“control” (as defined in the New York UCC or the Uniform Commercial Code of any other applicable jurisdiction) over Collateral pursuant to this Agreement or any other Security Document, the delivery to the Successor Agent of the Collateral
in its possession or control together with any necessary endorsements to the extent required by this Agreement, and (c) the execution and delivery of any further documents, financing statements or agreements and the taking of all such further
action that may be required under any applicable law, or that the Successor Agent may reasonably request, all without recourse to, or representation or warranty by, the Agent, and at the sole cost and expense of the Pledgors. In addition, the Agent
hereunder shall at all times be the same person that is the “Collateral Agent” under the First Lien Intercreditor Agreement. Written notice of resignation by the “Collateral Agent” pursuant to the First Lien Intercreditor
Agreement shall also constitute notice of resignation as the Agent under this Agreement. Upon the acceptance of any appointment as the “Collateral Agent” under the First Lien Intercreditor Agreement by a successor “Collateral
Agent,” that successor “Collateral Agent” shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent pursuant hereto. 

SECTION 6.21. General Authority of the Agent 

(a) By acceptance of the benefits of this Agreement and any other Security Documents, each Secured Party (whether or not a signatory hereto)
shall be deemed irrevocably (i) to consent to the appointment of the Agent as its agent hereunder and under such other Security Documents, (ii) to confirm that the Agent shall have the authority to act as the exclusive agent of such
Secured Party for the enforcement of any provision of this Agreement and such other Security Documents against any Pledgor, the exercise of remedies hereunder or thereunder and the 

  
 36 

 giving or withholding of any consent or approval hereunder thereunder relating to any Collateral or any
Pledgor’s obligations with respect thereto, (iii) to agree that it shall not take any action to enforce any provisions of this Agreement or any other Security Document against any Pledgor, to exercise any remedy hereunder or thereunder or
to give any consents or approvals hereunder or thereunder except as expressly provided in this Agreement or any other Security Document and (iv) to agree to be bound by the terms of this Agreement, any other Security Documents and any
Intercreditor Agreement then in effect. 
 (b) Each Pledgor acknowledges that the rights and responsibilities of the Agent under this
Agreement with respect to any action taken by the Agent or the exercise or non-exercise by the Agent of any option, voting right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Agreement shall, as
between the Agent and the Secured Parties, be governed by the Credit Agreement, any Other First Lien Agreement and such other agreements with respect thereto as may exist from time to time among them, but, as between the Agent and the Pledgors, the
Agent shall be conclusively presumed to be acting as agent for the applicable Secured Parties with full and valid authority so to act or refrain from acting, and no Pledgor shall be under any obligation, or entitlement, to make any inquiry
respecting such authority. 
 SECTION 6.22. Application of Gaming Laws. Notwithstanding anything herein to the contrary, this
Agreement and any Other First Lien Agreement are subject to the applicable Gaming Laws. Without limiting the foregoing, the Secured Parties acknowledge that (i) they are subject to the jurisdiction of the Gaming Authorities, in their
discretion, for licensing, qualification or findings of suitability or to file or provide other information, and (ii) all rights, remedies and powers in or under this Agreement and the Other First Lien Agreements, including with respect to the
Collateral (including the pledge and delivery of the Pledged Collateral), the Mortgaged Properties and the transportation, ownership and operation of gaming machines and/or facilities may be subject to the jurisdiction of the Gaming Authorities, and
may be exercised only to the extent that the exercise thereof does not violate any applicable provisions of the Gaming Laws and only to the extent that required approvals (including prior approvals), if any, are obtained from the relevant Gaming
Authorities. 
 [Signature Pages Follow] 

  
 37 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year
first above written. 
  

			
	AP GAMING I, LLC, as Borrower
		
	By:	 	/s/ Robert Miodunski
		 	Name: Robert Miodunski
		 	Title: Authorized Signatory

  
 [Signature Page to
Collateral Agreement] 

 
			
	 AP GAMING II, INC.,
 AP GAMING
ACQUISITION, LLC,
 each as a Subsidiary Party

		
	By:	 	/s/ Robert Miodunski
		 	 Name: Robert Miodunski
 Title: Authorized
Signatory

  

			
	 AGS CAPITAL, LLC,
 AGS LLC,

AGS PARTNERS, LLC,
 AGS ILLINOIS, LLLP,

AP GAMING NV, LLC
 each as a Subsidiary Party

		
	By:	 	/s/ Robert Miodunski
		 	 Name: Robert Miodunski
 Title: Chief
Executive Officer

  
 [Signature Page to
Collateral Agreement] 

 
			
	CITICORP NORTH AMERICA, INC., as Agent
		
	By:	 	/s/ Matthew Burke
		 	 Name: Matthew Burke
 Title: Vice
President

 [Signature Page to Collateral Agreement] 

 Schedule I 

to the Collateral Agreement 

Subsidiary Parties 
  

					
	 Legal Name
	  	 Type of Entity
	  	Jurisdiction of Organization
			
	 AP GAMING II, INC.
	  	Corporation	  	Delaware
			
	 AP GAMING ACQUISITION, LLC
	  	Limited liability company	  	Delaware
			
	 AGS CAPITAL, LLC
	  	Limited liability company	  	Delaware
			
	 AGS LLC
	  	Limited liability company	  	Delaware
			
	 AGS PARTNERS, LLC
	  	Limited liability company	  	Delaware
			
	 AGS ILLINOIS, LLLP
	  	Limited liability limited partnership	  	Illinois
			
	 AP GAMING NV, LLC
	  	Limited liability company	  	Delaware

 Schedule II 

to the Collateral Agreement 

Commercial Tort Claims 

None. 

 Schedule III 

to the Collateral Agreement 

Pledged Stock; Pledged Debt 

Pledged Stock 
  

									
	 Issuer
	  	 Record Owner
	  	 Certificate No.
	  	 Percentage of Issued

and Outstanding
 Equity
Interests
 Owned
	  	 Percent Pledged

					
	 1. AP Gaming I, LLC
	  	AP Gaming Holdings, LLC	  	N/A	  	100%	  	100%
					
	 2. AP Gaming II, Inc.
	  	AP Gaming I, LLC	  	1	  	100%	  	100%
					
	 3. AP Gaming Acquisition, LLC
	  	AP Gaming II, Inc.	  	N/A	  	100%	  	100%
					
	 4. American Gaming Systems Canada ULC
	  	AP Gaming II, Inc.	  	#7-726 Shares	  	100%	  	65% of voting equity and 100% of non-voting equity (if any)
		  	  	#8-374 Shares	  	  
					
	 5. AGS Capital, LLC
	  	AP Gaming Acquisition, LLC	  	N/A	  	100%	  	100%
					
	 6. AGS LLC
	  	AGS Capital, LLC	  	1	  	100%	  	100%
					
	 7. AGS Partners, LLC
	  	AGS Capital, LLC	  	1	  	100%	  	100%
					
	 8. AGS Illinois, LLLP
	  	AGS LLC	  	N/A	  	General Partner	  	100%
	  	AGS Partners, LLC	  	N/A	  	100% of the Partnership Interests	  

 Pledged Debt 
  

											
	 Entity
	  	 Principal Amount
	  	Date of
Issuance	  	Interest Rate	  	Maturity Date	  	Pledged [Y/N]
						
	 Global Intercompany Note among the Borrower and its Subsidiaries
	  	All amounts outstanding from time to time	  	Closing Date	  	As agreed
 from time to time
	  	On demand	  	Y

 Schedule IV 

to the Collateral Agreement 

Intellectual Property 

Trademarks 
  

	1.	See Schedule I to the Trademark Security Agreement, dated as of the date hereof, made by AGS LLC in favor of the Agent. 

Patents 
  

	1.	See Schedule I to the Patent Security Agreement, dated as of the date hereof, made by AGS LLC in favor of the Agent. 

Copyrights 
 [None.] 

 Exhibit I 

to the Collateral Agreement 

SUPPLEMENT NO.              dated as of
                 (this “Supplement”), to the Collateral Agreement dated as of December 20, 2013 (as heretofore amended and/or supplemented, the
“Collateral Agreement”), among (a) AP GAMING I, LLC (the “Borrower”), each Subsidiary Loan Party (as defined in the Credit Agreement (as defined below)) listed on Schedule I to the Collateral Agreement and each
Subsidiary of the Borrower that becomes a party hereto (each, a “Subsidiary Party”) and CITICORP NORTH AMERICA, INC., as Collateral Agent (in such capacity, the “Agent”) for the Secured Parties (as defined therein).

 A. Reference is made to the First Lien Credit Agreement, dated as of December 20, 2013 (as amended, restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”), among the Borrower, the Lenders party thereto from time to time, the Agent, as administrative agent (together with its successors and assigns in such capacity, the
“Credit Agreement Agent”), and the other parties party thereto. 
 B. Capitalized terms used herein and not otherwise
defined herein shall have the meanings assigned to such terms in the Credit Agreement or the Collateral Agreement, as applicable. 
 C. The
Pledgors have entered into the Collateral Agreement in order to induce the Lenders to make Loans, each Issuing Bank to issue Letters of Credit and the holders of any other Other First Lien Obligations to make extensions of credit under the
applicable Other First Lien Agreements, as applicable. Section 6.16 of the Collateral Agreement provides that additional Subsidiaries of the Borrower may become Subsidiary Parties under the Collateral Agreement by execution and delivery of an
instrument in the form of this Supplement. The undersigned Subsidiary (the “New Subsidiary”) is executing this Supplement in accordance with the requirements of the Credit Agreement to become a Subsidiary Party under the Collateral
Agreement. 
 Accordingly, the New Subsidiary agrees as follows: 

SECTION 1. In accordance with Section 6.16 of the Collateral Agreement, the New Subsidiary by its signature below becomes a
Subsidiary Party and a Pledgor under the Collateral Agreement with the same force and effect as if originally named therein as a Subsidiary Party and a Pledgor, and the New Subsidiary hereby (a) agrees to all the terms and provisions of the
Collateral Agreement applicable to it as a Subsidiary Party and a Pledgor thereunder and (b) represents and warrants that the representations and warranties made by it as a Pledgor thereunder are true and correct in all material respects on and
as of the date hereof. In furtherance of the foregoing, subject to any approvals required under Gaming Laws, the New Subsidiary, as security for the payment and performance in full of the Secured Obligations, does hereby create and grant to the
Agent, its successors and assigns, for the benefit of the Secured Parties, their successors and assigns, a security interest in and Lien on all of the New Subsidiary’s right, title and interest in and to the Collateral (as defined in the
Collateral Agreement) of the New Subsidiary. Each reference to a “Subsidiary Party” or a “Pledgor” in the Collateral Agreement shall be deemed to include the New Subsidiary (except as otherwise provided in clause (iii) of
the definition of Pledgor to the extent applicable). The Collateral Agreement is hereby incorporated herein by reference. 

  
 Exhibit I - 1 

 SECTION 2. The New Subsidiary represents and warrants to the Agent and the other Secured
Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, subject to (i) the effects of bankruptcy,
insolvency, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally, (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity
or at law) and (iii) implied covenants of good faith and fair dealing. 
 SECTION 3. This Supplement may be executed in two or
more counterparts, each of which shall constitute an original but all of which when taken together shall constitute but one contract. This Supplement shall become effective when the Agent shall have received a counterpart of this Supplement that
bears the signature of the New Subsidiary. Delivery of an executed signature page to this Supplement by facsimile or other electronic transmission shall be as effective as delivery of a manually signed counterpart of this Supplement. 

SECTION 4. The New Subsidiary hereby represents and warrants that, as of the date hereof, (a) set forth on Schedule I
attached hereto is a true and correct schedule of all the Pledged Stock and Pledged Debt of the New Subsidiary, (b) set forth on Schedule II attached hereto is a true and correct schedule of all Intellectual Property now owned by the New
Subsidiary constituting United States registered Trademarks, Patents and Copyrights, (c) set forth on Schedule III attached hereto is a true and correct schedule of all Commercial Tort Claims in excess of $3,000,000 held by the New
Subsidiary and (d) set forth under its signature hereto, is the true and correct legal name of the New Subsidiary, its jurisdiction of organization and organizational identification number. 

SECTION 5. Except as expressly supplemented hereby, the Collateral Agreement shall remain in full force and effect. 

SECTION 6. THIS SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE NEW SUBSIDIARY UNDER THIS SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH
AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 7. In the event any one or more of the provisions contained in this
Supplement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and in the Collateral Agreement shall not in any way be affected or impaired thereby.
The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable
provisions. 

  
 Exhibit I - 2 

 SECTION 8. All communications and notices hereunder shall (except as otherwise expressly
permitted by the Collateral Agreement) be in writing and given as provided in Section 6.01 of the Collateral Agreement. 
 SECTION 9.
The New Subsidiary agrees to reimburse the Agent for its reasonable and documented out-of-pocket expenses in connection with this Supplement, including the reasonable and documented fees, disbursements and other charges of counsel for the Agent.

 [Signature Page Follows.] 

  
 Exhibit I - 3 

 IN WITNESS WHEREOF, the New Subsidiary and the Agent have duly executed this Supplement to the
Collateral Agreement as of the date first above written. 
  

			
	[Name of New Subsidiary]
		
	By:	 	 
		 	 Name:
 Title:

	
	Legal Name:
	
	Jurisdiction of Formation:

 Schedule I 

to Supplement No.          to the 

Collateral Agreement 
 Pledged
Collateral of the New Subsidiary 
 PLEDGED STOCK 
  

							
	 Number of Issuer

Certificate
	  	Registered Owner	  	Number and Class of
Equity Interests	  	Percentage of
Equity Interests

PLEDGED DEBT 
  

							
	 Issuer
	  	Principal Amount	  	Date of Note	  	Maturity Date

 OTHER PROPERTY 

 Schedule II 

to Supplement No.          to the 

Collateral Agreement 

Intellectual Property of the New Subsidiary 

 Exhibit II 

to the Collateral Agreement 

Form of Perfection Certificate 

See Attached 

  
 Exhibit II-1 

 Exhibit III  

to Collateral Agreement 
 [Form of]

 OTHER FIRST LIEN SECURED PARTY CONSENT 

[Name of Authorized Representative for the New Secured Parties] 

[Address of Authorized Representative] 
 [Date]

 [Name of Agent] 
 [Address of Agent] 

The undersigned is the Authorized Representative for persons wishing to become Secured Parties (the “New Secured Parties”)
under the Collateral Agreement dated as of December 20, 2013 (as heretofore amended and/or supplemented, the “Collateral Agreement” (terms used without definition herein have the meanings assigned to such term by the Collateral
Agreement)) among (a) AP GAMING I, LLC (the “Borrower”), each Subsidiary Party thereto (each, a “Subsidiary Party”) and CITICORP NORTH AMERICA, INC., as Collateral Agent (in such capacity, the
“Agent”) for the Secured Parties (as defined therein). 
 In consideration of the foregoing, the undersigned hereby: 

(i) represents that the Authorized Representative has been duly authorized by the New Secured Parties to become a party to the
Collateral Agreement, each other Security Document and the First Lien Intercreditor Agreement on behalf of the New Secured Parties under that [DESCRIBE OPERATIVE AGREEMENT] (the “New Secured Obligation”) and to act as the Authorized
Representative for the New Secured Parties; 
 (ii) acknowledges that the Authorized Representative received a copy of the
Security Documents and each Intercreditor Agreement; 
 (iii) appoints and authorizes the Agent to take such action as agent
on its behalf and on behalf of all other Secured Parties and to exercise such powers under the Security Documents and First Lien Intercreditor Agreement as are delegated to the Agent by the terms thereof, together with all such powers as are
reasonably incidental thereto; 
 (iv) accepts and acknowledges the terms of the First Lien Intercreditor Agreement
applicable to it and the New Secured Parties and agrees to serve as Authorized Representative for the New Secured Parties with respect to the New Secured Obligations and agrees on its own behalf and on behalf of the New Secured Parties to be bound
by the terms thereof applicable to holders of Other First Lien Obligations, with all the rights and 

  
 Exhibit III-1 

 
obligations of a Secured Party thereunder and bound by all the provisions thereof (including, without limitation, Section 2.02(b) thereof) as fully as if it had been a Secured Party on the
effective date of the Collateral Agreement and each Intercreditor Agreement and agrees that its address for receiving notices pursuant to the Security Documents and each applicable Intercreditor Agreement shall be as follows: 

[Address] 

(v) confirms the authority of the Agent to enter into such agreements on its behalf and on behalf of the New Secured Parties
and agrees on its own behalf and on behalf of the New Secured Parties to be bound by the terms thereof applicable to it and the New Secured Parties as fully as if it had been a party to each such agreement on behalf of itself and the New Secured
Parties. 
 The Agent, by acknowledging and agreeing to this Other First Lien Secured Party Consent, accepts the appointment set forth in
clause (iii) above. 
 THIS OTHER FIRST LIEN SECURED PARTY CONSENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 [Signature Pages Follow.] 

  
 Exhibit III-2 

 IN WITNESS WHEREOF, the undersigned has caused this Other First Lien Secured Party Consent to be
duly executed by its authorized officer as of the date first above written. 
  

			
	[AUTHORIZED REPRESENTATIVE]
		
	By:	 	 
		 	 Name:
 Title:

  

			
	 Acknowledged and Agreed:
  

[AGENT]

		
	By:	 	 
		 	 Name:
 Title:

  

			
	 Acknowledged and Agreed:
  

[BORROWER], for itself and on behalf of the other Pledgors

		
	By:	 	 
		 	 Name:
 Title:

 Exhibit IV 

to the Collateral Agreement 

Form of Intellectual Property Security Agreement 

See Attached 

  
 Exhibit IV-1 

 Form of Intellectual Property Security Agreement 

[FORM OF] [COPYRIGHT] [PATENT] [TRADEMARK] SECURITY AGREEMENT dated as of [DATE] (this “Agreement”), made by [•], a
[•] [•] (the “Pledgor”), in favor of Citicorp North America, Inc., as Collateral Agent (as defined below). 

Reference is made to the Collateral Agreement dated as of December 20, 2013 (as amended, restated, supplemented or otherwise modified from
time to time, the “Collateral Agreement”), among AP GAMING I, LLC (the “Borrower”), each subsidiary of the Borrower identified therein and CITICORP NORTH AMERICA, INC., as collateral agent (together with its
successors and assigns in such capacity, the “Agent”) for the Secured Parties (as defined therein). The parties hereto agree as follows: 

SECTION 1. Terms. Capitalized terms used in this Agreement and not otherwise defined herein have the meanings specified in the
Collateral Agreement. The rules of construction specified in Section 1.01(b) of the Collateral Agreement also apply to this Agreement. 

SECTION 2. Grant of Security Interest. As security for the payment and performance when due, as the case may be, in full of the
Secured Obligations, the Pledgor pursuant to the Collateral Agreement did, and hereby does, grant to the Agent, its successors and permitted assigns, for the benefit of the Secured Parties, a security interest in all of such Pledgor’s right,
title and interest in or to any and all of the following assets now owned or at any time hereafter acquired by such Pledgor or in which such Pledgor now has or at any time in the future may acquire any right, title or interest (collectively, but
excluding any Excluded Property, the “IP Collateral”): 
  

	 	[(i)	all Patents of the United States, including those listed on Schedule I;] 

  

	 	[(ii)	all Copyrights of the United States, including those listed on Schedule II;] 

  

	 	[(iii)	all Trademarks of the United States, including those listed on Schedule III; 

 provided,
however, that the foregoing pledge, assignment and grant of security interest will not cover any “intent-to-use” applications for trademark or service mark registrations filed pursuant to Section 1(b) of the Lanham Act, 15
U.S.C. § 1051, unless and until an Amendment to Allege Use or a Statement of Use under Sections 1(c) or 1(d) of the Lanham Act has been filed, to the extent, if any, that any assignment of an “intent-to-use” application prior to such
filing would violate the Lanham Act.] 
 SECTION 3. Collateral Agreement. The security interests granted to the Agent herein
are granted in furtherance, and not in limitation of, the security interests granted to the Agent pursuant to the Collateral Agreement. Each Pledgor hereby acknowledges and affirms that the rights and remedies of the Agent with respect to the IP
Collateral are more fully set forth in the Collateral Agreement, the terms and provisions of which are hereby incorporated herein by reference as if fully set forth herein. In the event of any conflict between the terms of this Agreement and the
Collateral Agreement, the terms of the Collateral Agreement shall govern. 

  
 Exhibit IV-2 

 SECTION 4. Counterparts. This Agreement may be executed in two or more
counterparts, including by facsimile or other electronic means, each of which shall constitute an original and all of which shall together constitute one and the same document. 

SECTION 5. Governing Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 [Signature Pages Follow] 

  
 Exhibit IV - 3 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year
first above written. 
  

			
	[Name of Pledgor]
		
	By:	 	 
		 	 Name:
 Title:

  

  
 Exhibit IV- 4 

 
			
	 CITICORP NORTH AMERICA, INC.,
 as
Collateral Agent

		
	By:	 	 
		 	Name:
		 	Title:
		
	By:	 	 
		 	 Name:

		 	 Title:

  

  
 Exhibit IV - 5EX-10.20

 Exhibit 10.20 

HOLDINGS GUARANTEE AND PLEDGE AGREEMENT 

dated and effective as of 

December 20, 2013 
 between

 AP GAMING HOLDINGS, LLC, 

as Holdings 
 and 

CITICORP NORTH AMERICA, INC., 

as Agent 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	1	  
	 SECTION 1.01. Credit Agreement
	  	 	1	  
	 SECTION 1.02. Other Defined Terms
	  	 	2	  
		
	 ARTICLE II GUARANTEE
	  	 	5	  
	 SECTION 2.01. The Guarantee
	  	 	5	  
		
	 ARTICLE III PLEDGE OF EQUITY INTERESTS
	  	 	7	  
	 SECTION 3.01. Pledge
	  	 	7	  
	 SECTION 3.02. Delivery of Pledged Collateral
	  	 	9	  
	 SECTION 3.03. Representations and Warranties
	  	 	9	  
	 SECTION 3.04. Covenants
	  	 	10	  
	 SECTION 3.05. Registration in Nominee Name; Denominations
	  	 	11	  
	 SECTION 3.06. Financing Statements
	  	 	11	  
	 SECTION 3.07. Certification of Pledged Borrower Stock
	  	 	12	  
	 SECTION 3.08. Voting Rights; Dividends and Interest, Etc
	  	 	12	  
	 SECTION 3.09. Powers Coupled with an Interest
	  	 	14	  
		
	 ARTICLE IV [RESERVED]
	  	 	14	  
		
	 ARTICLE V REMEDIES
	  	 	14	  
	 SECTION 5.01. Remedies Upon Default
	  	 	14	  
	 SECTION 5.02. Application of Proceeds
	  	 	15	  
	 SECTION 5.03. Securities Act, Etc
	  	 	16	  
		
	 ARTICLE VI MISCELLANEOUS
	  	 	17	  
	 SECTION 6.01. Notices
	  	 	17	  
	 SECTION 6.02. Security Interest Absolute
	  	 	17	  
	 SECTION 6.03. Limitation by Law
	  	 	17	  
	 SECTION 6.04. Binding Effect; Several Agreement
	  	 	17	  
	 SECTION 6.05. Successors and Assigns
	  	 	17	  
	 SECTION 6.06. Agent’s Fees and Expenses
	  	 	18	  
	 SECTION 6.07. Agent Appointed Attorney-in-Fact
	  	 	18	  
	 SECTION 6.08. GOVERNING LAW
	  	 	19	  
	 SECTION 6.09. Waivers; Amendment; Extension of Time
	  	 	19	  
	 SECTION 6.10. WAIVER OF JURY TRIAL
	  	 	20	  
	 SECTION 6.11. Severability
	  	 	20	  
	 SECTION 6.12. Counterparts
	  	 	20	  
	 SECTION 6.13. Headings
	  	 	20	  
	 SECTION 6.14. Jurisdiction; Consent to Service of Process
	  	 	20	  
	 SECTION 6.15. Termination or Release
	  	 	21	  
	 SECTION 6.16. Compliance with Gaming Laws
	  	 	22	  
	 SECTION 6.17. Subject to Any Applicable Intercreditor Agreement
	  	 	23	  

  
 i 

 TABLE OF CONTENTS 

(Continued) 
  

					
	 	  	Page	 
		
	 SECTION 6.18. Other First Lien Obligations
	  	 	23	  
	 SECTION 6.19. Person Serving as Agent
	  	 	24	  
	 SECTION 6.20. General Authority of the Agent
	  	 	25	  
	 SECTION 6.21. Application of Gaming Laws
	  	 	25	  

  

			
	 Schedules
	  	
		
	 Schedule I Description of Pledged Borrower Stock
	  	
		
	 Exhibits
	  	
		
	 Exhibit I Form of Other First Lien Secured Party Consent
	  	

  
 ii 

 This HOLDINGS GUARANTEE AND PLEDGE AGREEMENT, dated and effective as of December 20, 2013,
is between AP GAMING HOLDINGS, LLC, a Delaware limited liability company (“Holdings”), and CITICORP NORTH AMERICA, INC., as collateral agent (together with its successors and permitted assigns in such capacity, the
“Agent”) for the benefit of the Secured Parties (as defined below). 
 W I T N E S
S E T H : 
 WHEREAS, pursuant to the First Lien Credit Agreement, dated as of the date hereof (as amended,
restated, supplemented, waived or otherwise modified from time to time, the “Credit Agreement”), among Holdings, AP Gaming I, LLC, a Delaware limited liability company and a Subsidiary of Holdings (together with its successors, the
“Borrower”), the Lenders party thereto from time to time, Citicorp North America, Inc., as administrative agent (together with its successors and assigns in such capacity, the “Credit Agreement Agent”), and the
other parties thereto, the Lenders and the Issuing Banks have agreed to extend credit to the Borrower upon the terms and subject to the conditions set forth therein, including the execution and delivery of this Agreement; 

WHEREAS, Holdings is the legal and beneficial owner of the Pledged Collateral (as hereinafter defined) issued by the Borrower and will derive
substantial benefits from the extension of credit to the Borrower pursuant to the Credit Agreement; and 
 WHEREAS, Holdings is willing to
execute and deliver this Agreement in order to induce the Lenders and the Issuing Banks to extend such credit under the Credit Agreement and to induce the holders of any other Other First Lien Obligations to make extensions of credit under the
applicable Other First Lien Agreements, as applicable. 
 Accordingly, the parties hereto agree as follows: 

ARTICLE I 
 Definitions

 SECTION 1.01. Credit Agreement. 

(a) Capitalized terms used in this Agreement and not otherwise defined herein have the respective meanings assigned thereto in the Credit
Agreement. All terms referred to herein that are defined in Article 9 of the New York UCC (as defined herein) and not defined in this Agreement or the Credit Agreement have the meanings specified in Article 9 of the New York UCC.
The term “instrument” shall have the meaning specified in Article 9 of the New York UCC. 
 (b) The rules of
construction specified in Section 1.02 of the Credit Agreement also apply to this Agreement. 

  
 1 

 SECTION 1.02. Other Defined Terms. As used in this Agreement, the following terms
have the meanings specified below: 
 “Agent” has the meaning assigned to such term in the introductory paragraph of this
Agreement. 
 “Agreement” means this Holdings and Guarantee and Pledge Agreement, as amended, restated, supplemented,
waived or otherwise modified from time to time. 
 “Applicable First Lien Representative” means the “Applicable
Authorized Representative” as defined in the First Lien Intercreditor Agreement upon and during the effectiveness thereof. The Applicable First Lien Representative shall be the Credit Agreement Agent unless and until another person is
designated as the Applicable First Lien Representative pursuant to the First Lien Intercreditor Agreement. 
 “Authorized
Representative” means (i) the Credit Agreement Agent with respect to the Credit Agreement and (ii) with respect to any Series of Other First Lien Obligations, the duly authorized representative of the Secured Parties of such
Series of Other First Lien Obligations designated as “Authorized Representative” for such Secured Parties in the related Other First Lien Secured Party Consent delivered to the Agent. 

“Borrower” has the meaning assigned to such term in the recitals of this Agreement. 

“Credit Agreement” has the meaning assigned to such term in the recitals of this Agreement. 

“Credit Agreement Agent” has the meaning assigned to such term in the recitals of this Agreement. 

“Credit Agreement Loan Obligations” means the “Loan Obligations” as defined in the Credit Agreement. 

“Credit Agreement Secured Obligations” means the “Obligations” as defined in the Credit Agreement. 

“Credit Agreement Secured Parties” means the “Secured Parties” as defined in the Credit Agreement. 

“Event of Default” means an “Event of Default” under and as defined in the Credit Agreement or any Other First Lien
Agreement. 
 “Federal Securities Laws” has the meaning assigned to such term in Section 5.03. 

“First Lien Intercreditor Agreement” means a “Permitted Pari Passu Intercreditor Agreement” as defined in the
Credit Agreement (as amended, restated, supplemented or otherwise modified from time to time). 
 “Guaranteed Obligations”
has the meaning assigned to such term in Section 2.01. 

  
 2 

 “Holdings” has the meaning assigned to such term in the introductory paragraph
of this Agreement. 
 “Intercreditor Agreement” means a First Lien Intercreditor Agreement (upon and during the
effectiveness thereof) or a Permitted Junior Intercreditor Agreement (upon and during the effectiveness thereof), as the case may be. 

“Loan Documents” means (a) the Credit Agreement, (b) all Other First Lien Agreements, (c) the Security
Documents and (d) for purposes of Section 5.02 and Section 6.06 only, the First Lien Intercreditor Agreement (upon and during the effectiveness thereof). 

“Nevada Gaming Authority” has the meaning assigned to such term in Section 6.16(a). 

“Nevada Gaming Laws” has the meaning assigned to such term in Section 6.16(a). 

“New York UCC” means the Uniform Commercial Code as from time to time in effect in the State of New York. 

“Other First Lien Agreement” means any indenture, credit agreement (excluding the Credit Agreement) or other agreement,
document or instrument, pursuant to which any Loan Party has or will incur Other First Lien Obligations; provided that, in each case, the Indebtedness thereunder has been designated as Other First Lien Obligations pursuant to and in
accordance with Section 6.18. 
 “Other First Lien Obligations” means (a) the due and punctual payment by any
Loan Party of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such
proceeding) on Indebtedness under any Other First Lien Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary obligations of such Loan Party to any
Secured Party under any Other First Lien Agreement, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary
obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding), (b) the due and punctual performance of all other
obligations of such Loan Party under or pursuant to any Other First Lien Agreement and (c) the due and punctual payment and performance of all the obligations of each other Loan Party under or pursuant to any Other First Lien Agreement. 

“Other First Lien Secured Parties” means, collectively, the holders of Other First Lien Obligations and any Authorized
Representative with respect thereto. 
 “Other First Lien Secured Party Consent” means a consent substantially in the form
of Exhibit I to this Agreement (or such other form as the Agent may agree) executed by the Authorized Representative of any holders of Other First Lien Obligations pursuant to Section 6.18. 

  
 3 

 “Permitted Liens” means Liens that are (a) permitted by Article VIA of the
Credit Agreement and (b) not prohibited by any Other First Lien Agreement. 
 “Pledged Borrower Stock” has the meaning
assigned to such term in Section 3.01. 
 “Pledged Collateral” has the meaning assigned to such term in
Section 3.01. 
 “Pledged Securities” means any promissory notes, stock certificates or other certificated securities
now or hereafter included in the Pledged Collateral, including all certificates, instruments or other documents representing or evidencing any Pledged Collateral. 

“Prior Agent” has the meaning assigned to such term in Section 6.19. 

“Regulation S-X Excluded Collateral” has the meaning assigned to such term in Section 3.01. 

“Requirement of Law” means, as to any person, any law, treaty, rule, regulation, statute, order, ordinance, decree, judgment,
consent decree, writ, injunction, settlement agreement or governmental requirement enacted, promulgated or imposed or entered into or agreed by any Governmental Authority or Gaming Authority (including Gaming Laws), in each case applicable to or
binding upon such person or any of its property or assets or to which such person or any of its property or assets is subject. 

“Rule 3-16” has the meaning assigned to such term in Section 3.01. 

“Secured Obligations” means, collectively, the Credit Agreement Secured Obligations and any Other First Lien Obligations, or
any of the foregoing (but, excluding, in each case, any Excluded Swap Obligations). 
 “Secured Parties” means the persons
holding any Secured Obligations and in any event including (i) all Credit Agreement Secured Parties and (ii) all Other First Lien Secured Parties. 

“Security Documents” has the meaning assigned to such term in the Credit Agreement and any analogous term in any Other First
Lien Agreement (but, with respect to the Secured Obligations of any Series, the term Security Documents shall not include any document which by its terms is solely for the benefit of the holders of one or more other Series of Secured Obligations and
not such Series of Secured Obligations) 
 “Series” means (a) with respect to the Secured Parties, each of
(i) the Credit Agreement Secured Parties (in their capacities as such) and (ii) the Other First Lien Secured Parties that become subject to this Agreement and the First Lien Intercreditor Agreement after the date hereof that are
represented by a common Authorized Representative (in its capacity as such for such Other First Lien Secured Parties) and (b) with respect to any Secured Obligations, each of (i) the Credit Agreement Secured Obligations and (ii) the
Other First Lien Obligations incurred pursuant to any Other First Lien Agreement, which pursuant to any Other First Lien Secured Party Consent, are to be represented hereunder by a common Authorized Representative (in its capacity as such for such
Other First Lien Obligations). 

  
 4 

 “Specified Excluded Collateral” means, solely with respect to any Series of
Other First Lien Obligations, any asset that is not intended to be collateral with respect to such Series pursuant to the terms of the Other First Lien Agreement governing such Series (including the Regulation S-X Excluded Collateral to the extent
applicable to such Series in accordance with the last paragraph of Section 3.01). 
 “Successor Agent” has the meaning
assigned to such term in Section 6.19. 
 “Termination Date” means the “Termination Date” as defined in the
Credit Agreement. 
 ARTICLE II 

Guarantee 

SECTION 2.01. The Guarantee. 

(a) Guarantee of Secured Obligations. Holdings unconditionally guarantees to the Agent, jointly and severally with the other
Guarantors, as a primary obligor and not merely as a surety, the due and punctual payment and performance of the Secured Obligations (such guarantee obligations of Holdings, the “Guaranteed Obligations”) for the benefit of the
Secured Parties. Holdings further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice to or further assent from it, and that it will remain bound upon its guarantee notwithstanding any extension or
renewal of any Guaranteed Obligation. Holdings waives presentment to, demand of payment from and protest to the Borrower or any other Loan Party of any of the Guaranteed Obligations, and also waives notice of acceptance of its guarantee and notice
of protest for nonpayment. 
 (b) Guarantee of Payment. Holdings further agrees that its guarantee hereunder constitutes a guarantee
of payment when due and not of collection, and waives any right to require that any resort be had by the Agent or any other Secured Party to any security held for the payment of the Guaranteed Obligations or to any balance of any deposit account or
credit on the books of the Agent or any other Secured Party in favor of the Borrower or any other person. 
 (c) No Limitations.
Except for termination or release of Holdings’ obligations hereunder as expressly provided for in Section 6.15 and subject to the limitations set forth in clause (h) of this Section 2.01, the obligations of Holdings hereunder
shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or set-off, counterclaim, recoupment or
termination whatsoever by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise (other than defense of payment or performance). Without limiting the generality of the foregoing, the obligations of
Holdings hereunder, to the fullest extent permitted by applicable law, shall not be discharged or impaired or otherwise affected by: (i) the failure of the Agent or any other Secured Party to assert any claim or demand or to exercise or enforce
any right or remedy under the provisions of any Loan Document or otherwise; (ii) any rescission, waiver, amendment or modification of, or 

  
 5 

 
any release from any of the terms or provisions of, any Loan Document or any other agreement; (iii) the failure to perfect any security interest in, or the exchange, substitution, release or
any impairment of, any security held by the Agent or any other Secured Party for the Guaranteed Obligations; (iv) any default, failure or delay, willful or otherwise, in the performance of the Guaranteed Obligations; (v) any other act or
omission that may or might in any manner or to any extent vary the risk of any Guarantor or otherwise operate as a discharge of any Guarantor as a matter of law or equity (other than the payment in full in cash in immediately available funds of all
the Guaranteed Obligations); (vi) any illegality, lack of validity or enforceability of any Guaranteed Obligation; (vii) any change in the corporate existence, structure or ownership of the Borrower, or any insolvency, bankruptcy,
reorganization or other similar proceeding affecting the Borrower or its assets or any resulting release or discharge of any Guaranteed Obligation (other than the payment in full in cash in immediately available funds of all the Guaranteed
Obligations); (viii) the existence of any claim, set-off or other rights that Holdings may have at any time against the Borrower, the Agent, or any other corporation or person, whether in connection herewith or any unrelated transactions;
provided, that nothing herein will prevent the assertion of any such claim by separate suit or compulsory counterclaim; and (ix) any other circumstance (including, without limitation, any statute of limitations) or any existence of or
reliance on any representation by the Agent that might otherwise constitute a defense to, or a legal or equitable discharge of, the Borrower or any other Loan Party or any other guarantor or surety (other than defense of payment or performance).

 Holdings expressly authorizes the Agent, on behalf of the Secured Parties, to take and hold security for the payment and performance of
the Guaranteed Obligations, to exchange, waive or release any or all such security (with or without consideration), to enforce or apply such security and direct the order and manner of any sale thereof in their sole discretion or to release or
substitute any one or more other guarantors or obligors upon or in respect of the Guaranteed Obligations, all without affecting the obligations of Holdings hereunder. 

To the fullest extent permitted by applicable law, Holdings waives any defense based on or arising out of any defense of any other Guarantor
or the unenforceability of the Guaranteed Obligations or any part thereof from any cause, or the cessation from any cause of the liability of any other Guarantor, other than the payment in full in cash in immediately available funds of all the
Guaranteed Obligations. The Agent may, at its election, foreclose on any security held by it by one or more judicial or nonjudicial sales, accept an assignment of any such security in lieu of foreclosure, compromise or adjust any part of the
Guaranteed Obligations, make any other accommodation with the Borrower or any other Loan Party or exercise any other right or remedy available to it against the Borrower or any other Loan Party, without affecting or impairing in any way the
liability of Holdings hereunder, except to the extent the Guaranteed Obligations have been paid in full in cash in immediately available funds. To the fullest extent permitted by applicable law, Holdings waives any defense arising out of any such
election even though such election operates, pursuant to applicable law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of Holdings against any other Guarantor, as the case may be, or any security. 

  
 6 

 (d) Reinstatement. Notwithstanding the provisions of Section 6.15, Holdings agrees
that its guarantee hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Guaranteed Obligation is rescinded or must otherwise be restored or returned by the Agent or any
other Secured Party upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Borrower or any other Loan Party, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar
officer for, the Borrower or any other Loan Party or any substantial part of its property, or otherwise, all as though such payment had not been made. 

(e) Agreement To Pay. In furtherance of the foregoing and not in limitation of any other right that the Agent or any other Secured
Party has at law or in equity against Holdings by virtue hereof, upon the failure of the Borrower or any other Loan Party to pay any Guaranteed Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of
prepayment or otherwise, Holdings hereby promises to and will forthwith pay, or cause to be paid, to the Agent for distribution to the applicable Secured Party in cash in immediately available funds the amount of such unpaid Guaranteed Obligation.

 (f) Information. Holdings assumes all responsibility for being and keeping itself informed of the Borrower’s and each other
Loan Party’s financial condition and assets, and of all other circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations and the nature, scope and extent of the risks that Holdings assumes and incurs hereunder, and agrees
that neither the Agent nor any other Secured Party will have any duty to advise Holdings of information known to it or any of them regarding such circumstances or risks. 

(g) Maximum Liability. Holdings, and by its acceptance of this Agreement, the Agent and each Secured Party, hereby confirm that it is
the intention of all such persons that this Agreement and the Guaranteed Obligations not constitute a fraudulent transfer or conveyance for purposes of the U.S. Bankruptcy Code or any other federal, state or foreign bankruptcy, insolvency,
receivership or similar law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar foreign, federal or state law to the extent applicable to this Agreement and the Guaranteed Obligations. To effectuate the
foregoing intention, the Agent, the Secured Parties and Holdings hereby irrevocably agree that the Guaranteed Obligations at any time shall be limited to the maximum amount as will result in the Guaranteed Obligations not constituting a fraudulent
transfer or conveyance. 
 (h) Limited Recourse. Notwithstanding anything herein or in the Credit Agreement, any other Loan Document
or any Other First Lien Agreement to the contrary, the Guaranteed Obligations are limited recourse obligations payable solely from the Pledged Collateral pledged by Holdings hereunder and, following realization of the Pledged Collateral pledged by
Holdings (whether through sale, foreclosure or otherwise) and the application thereof in accordance with this Agreement, such Guaranteed Obligations shall be extinguished and shall not revive. 

ARTICLE III 
 Pledge of
Equity Interests 
 SECTION 3.01. Pledge. As security for the payment or performance, as the case may be, in full of the
Guaranteed Obligations, Holdings hereby assigns and pledges to the Agent, its successors and permitted assigns, for the benefit of the Secured Parties, and hereby grants to the Agent, its successors and permitted assigns, for the benefit of the
Secured Parties, a security interest in all of Holdings’ right, title and interest in, to and under: 

  
 7 

 (a) the Equity Interests of the Borrower directly owned by Holdings (which such Equity Interests
as of the Closing Date shall be listed on Schedule I) and any certificates representing all such Equity Interests (collectively, the “Pledged Borrower Stock”); 

(b) subject to Section 3.08, all payments of principal or interest, dividends, cash, instruments and other property from time to time
received, receivable or otherwise distributed in respect of, in exchange for or upon the conversion of, and all other proceeds received in respect of, the Pledged Borrower Stock; 

(c) subject to Section 3.08, all rights and privileges of Holdings with respect to the Pledged Borrower Stock and other property referred
to in clause (b) above; and 
 (d) all proceeds of any of the foregoing (the items referred to in clauses (a) through this clause
(d) being collectively referred to as the “Pledged Collateral”); provided that the Pledged Collateral shall not include any Excluded Property. 

TO HAVE AND TO HOLD the Pledged Collateral, together with all right, title, interest, powers, privileges and preferences pertaining or
incidental thereto, unto the Agent, its successors and permitted assigns, for the benefit of the Secured Parties, forever; subject, however, to the terms, covenants and conditions hereinafter set forth. 

Notwithstanding anything else to the contrary, in the event that Rule 3-16 of Regulation S-X under the Securities Act (as such Rule 3-16 may
be amended, modified or interpreted by the SEC, “Rule 3-16”) would require (or is replaced with another rule or regulation, or any other law, rule or regulation is adopted, which would require) the filing with the SEC (or any other
Governmental Authority) of separate financial statements of the Borrower due to the fact that the Pledged Borrower Stock secures any Series of the Other First Lien Obligations affected thereby, then the Pledged Borrower Stock (the
“Regulation S-X Excluded Collateral”) will automatically be deemed not to be part of the Pledged Collateral securing such Series of Other First Lien Obligations affected thereby, but only to the extent necessary to not be subject to
such requirement and only for so long as required to not be subject to such requirement. In such event, this Agreement may be amended or modified, without the consent of any Secured Party, to the extent necessary to release the Lien on the
Regulation S-X Excluded Collateral in favor of the Agent with respect only to the relevant Series of Other First Lien Obligations. In the event that Rule 3-16 is amended, modified or interpreted by the SEC to permit (or is replaced with another rule
or regulation, or any other law, rule or regulation is adopted, which would permit) any Regulation S-X Excluded Collateral to secure the Other First Lien Obligations in excess of the amount then pledged without the filing with the SEC (or any other
Governmental Authority) of separate financial statements of the Borrower, then the Pledged Borrower Stock will automatically be deemed to be a part of the Pledged Collateral for the relevant Series of Other First Lien Obligations. For the avoidance
of doubt and notwithstanding anything to the contrary in this Agreement, nothing in this paragraph shall limit the pledge of such Pledged Borrower Stock and other securities from securing the Secured Obligations (other than the relevant Series of
Other First Lien Obligations) at all relevant times 

  
 8 

 
or from securing any Other First Lien Obligations that are not in respect of securities subject to regulation by the SEC. To the extent any proceeds of any collection or sale of Pledged Borrower
Stock deemed by this paragraph to no longer constitute part of the Pledged Collateral for the relevant Series of Other First Lien Obligations are to be applied by the Agent in accordance with Section 5.02 hereof, such proceeds shall,
notwithstanding the terms of Section 5.02 and the First Lien Intercreditor Agreement, not be applied to the payment of such Series of Other First Lien Obligations. 

SECTION 3.02. Delivery of Pledged Collateral. 

(a) Subject to the provisions of Section 6.16, Holdings agrees promptly (and in any event within 45 days after the acquisition or such
longer time as the Applicable First Lien Representative shall permit in its reasonable discretion) to deliver or cause to be delivered to the Agent, for the benefit of the Secured Parties, any and all Pledged Securities. 

(b) Subject to the provisions of Section 6.16, upon delivery to the Agent within the time period set forth in clause (a) above,
(i) any Pledged Securities required to be delivered pursuant to the foregoing paragraph (a) of this Section 3.02 shall be accompanied by stock powers, duly executed in blank or other instruments of transfer reasonably satisfactory to
the Agent and by such other instruments and documents as the Agent may reasonably request and (ii) all other property comprising part of the Pledged Collateral delivered pursuant to the terms of this Agreement shall be accompanied to the extent
necessary to perfect the security interest in or allow realization on the Pledged Collateral by proper instruments of assignment duly executed by Holdings and such other instruments or documents as the Agent may reasonably request. Each delivery of
Pledged Securities shall be accompanied by a schedule describing the securities, which schedule shall be attached hereto as Schedule I (or a supplement to Schedule I, as applicable) and made a part hereof; provided, that failure to attach any such
schedule hereto shall not affect the validity of such pledge of such Pledged Collateral. Each schedule so delivered shall be deemed to supplement any prior schedules so delivered. 

SECTION 3.03. Representations and Warranties. Holdings represents and warrants to the Agent, for the benefit of the Secured
Parties: 
 (a) the Pledged Borrower Stock listed on Schedule I (as such Schedule may be updated from time to time) constitutes
all of the issued and outstanding Equity Interests of the Borrower issued to Holdings; 
 (b) the Pledged Borrower Stock has been duly and
validly authorized and issued and are fully paid; 
 (c) Holdings is the direct record and beneficial owner of, and has good title to, the
Pledged Borrower Stock listed on Schedule I (as such Schedule may be updated from time to time) owned by Holdings, free of any and all Liens except Permitted Liens; and 

(d) other than as set forth in the Credit Agreement or the schedules thereto or, after the termination of the Credit Agreement, in any Other
First Lien Agreement, and except for restrictions and limitations imposed by the Loan Documents and any Other First Lien Agreement then in effect, Gaming Laws or securities laws generally or otherwise not prohibited by the Loan Documents and any
Other First Lien 

  
 9 

 
Agreement then in effect, the Pledged Borrower Stock is and will continue to be freely transferable and assignable, and none of the Pledged Borrower Stock is or will be subject to any option,
right of first refusal, shareholders agreement, charter, by-law, memorandum of association or articles of association provisions or contractual restriction of any nature that might prohibit, impair, delay or otherwise affect the pledge of the
Pledged Collateral hereunder, the Disposition thereof pursuant hereto or the exercise by the Agent of rights and remedies hereunder other than under applicable Requirements of Law (including Gaming Laws); 

(e) Holdings has the power and authority to pledge the Pledged Collateral pledged by it hereunder in the manner hereby done or contemplated;

 (f) other than as set forth in the Credit Agreement or the schedules thereto or in the other Loan Documents or as required under Gaming
Laws, as of the Closing Date, no consent or approval of any Governmental Authority, any securities exchange or any other person was or is necessary to the validity of the pledge effected hereby (other than such as have been obtained and are in full
force and effect); 
 (g) by virtue of the execution and delivery by Holdings of this Agreement, when the Pledged Securities are delivered
to the Agent, for the benefit of the Secured Parties, in accordance with this Agreement, and a Uniform Commercial Code financing statement naming the Agent as the secured party and covering the Pledged Collateral is filed in the appropriate filing
office, the Agent will obtain, for the benefit of the Secured Parties, a legal, valid and perfected lien upon and security interest in such Pledged Collateral, subject only to Permitted Liens, as security for the payment of the Guaranteed
Obligations, to the extent such perfection is governed by the Uniform Commercial Code. 
 SECTION 3.04. Covenants. Holdings
covenants and agrees with the Agent and the Secured Parties, that, from and after the date of this Agreement until the date of its termination pursuant to Section 6.15(a): 

(a) Holdings agrees to pay, and to save the Agent and the Secured Parties harmless from, any and all liabilities with respect to, or resulting
from any delay in paying, any and all stamp, excise, sales or other similar taxes which may be payable or determined to be payable with respect to any of the Pledged Collateral or in connection with any of the transactions contemplated by this
Agreement all in accordance with all of the terms, covenants and agreements that Section 2.17 of the Credit Agreement requires Holdings to perform or observe, subject to the qualifications set forth therein. 

(b) Holdings agrees to furnish to the Agent prompt written notice of any change in (i) its organization name, (ii) its identity or
organizational structure, (iii) its organizational identification number, (iv) its jurisdiction of organization or (v) the location of its chief executive office if it is not a registered organization; provided that Holdings agrees
not to effect or permit any such change unless all filings have been made, or will have been made within any applicable statutory period following such change, under the Uniform Commercial Code or otherwise that are required in order for the Agent
to continue at all times following such change to have a valid, legal and perfected security interest in all the Pledged Collateral in which a security interest may be perfected by such filing, for the benefit of the Secured Parties. 

  
 10 

 (c) Holdings agrees it will make no assignment, pledge, hypothecation or transfer of, or create
or permit to exist any security interest in or other Lien on, the Pledged Collateral, and will not Dispose of any other Pledged Collateral, in each case other than pursuant to a transaction not prohibited by any Loan Document and any Other First
Lien Agreement then in effect and other than Permitted Liens. 
 (d) Subject to the rights of Holdings under the Loan Documents and each
Other First Lien Agreement then in effect to Dispose of Pledged Collateral, Holdings shall, at its own expense, use commercially reasonable efforts to defend its title to the Pledged Collateral against all persons and to defend the security interest
of the Agent, for the benefit of the Secured Parties, in the Pledged Collateral and the priority thereof against any Lien that is not a Permitted Lien. 

(e) Holdings agrees, at its own expense, to execute, acknowledge, deliver and cause to be duly filed all such further instruments and
documents and take all such actions as the Agent may from time to time reasonably request to better assure, preserve, protect and perfect the Agent’s security interest and the rights and remedies created hereby, including the payment of any
fees and taxes required in connection with the execution and delivery of this Agreement and the granting of the security interest and the filing of any financing statements or other documents in connection herewith or therewith. 

SECTION 3.05. Registration in Nominee Name; Denominations. The Agent, on behalf of the Secured Parties, shall have the right (in
its sole and absolute discretion) to hold the Pledged Securities in the name of Holdings, endorsed or assigned in blank or in favor of the Agent or, if an Event of Default shall have occurred and be continuing, in its own name as pledgee or the name
of its nominee (as pledgee or as sub-agent). Following the occurrence and during the continuance of an Event of Default, Holdings will promptly give to the Agent copies of any notices or other communications received by it with respect to Pledged
Securities registered in the name of Holdings. If an Event of Default shall have occurred and be continuing, the Agent shall have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger
denominations for any purpose consistent with this Agreement. Holdings shall use its commercially reasonable efforts to cause any Subsidiary of the Borrower that is not a party to this Agreement to comply with a request by the Agent, pursuant to
this Section 3.05, to exchange certificates representing Pledged Securities of such Subsidiary for certificates of smaller or larger denominations. 

SECTION 3.06. Financing Statements. Holdings hereby irrevocably authorizes the Agent at any time and from time to time to file in
any relevant jurisdiction any initial financing statements with respect to the Pledged Collateral or any part thereof and amendments thereto that contain the information required by Article 9 of the Uniform Commercial Code of each applicable
jurisdiction for the filing of any financing statement or amendment, including (i) whether Holdings is an organization, the type of organization and any organizational identification number issued to Holdings and (ii) a description of
collateral that describes such property in any other manner as the Agent may reasonably determine is necessary or advisable to ensure the perfection of the security interest in the Pledged Collateral. 

  
 11 

 SECTION 3.07. Certification of Pledged Borrower Stock. Holdings hereby represents and
warrants to the Agent for the benefit of the Secured Parties that as of the Closing Date none of the Pledged Borrower Stock is a “security” (within the meaning of Section 8-103 of the New York UCC or the corresponding code or statute
of any other applicable jurisdiction) and covenants that Holdings shall at no time elect to treat any of the Pledged Borrower Stock as a “security” or issue any certificate representing such interest unless Holdings provides the Agent
notification thereof and delivers any such certificate to the Agent pursuant to Section 3.02(a). 
 SECTION 3.08. Voting
Rights; Dividends and Interest, Etc. 
 (a) Unless and until an Event of Default shall have occurred and be continuing and the Agent
shall have given written notice to Holdings of the Agent’s intention to exercise its rights hereunder: 
 (i) Holdings shall be
entitled to exercise any and all voting and/or other consensual rights and powers inuring to an owner of Pledged Collateral or any part thereof for any purpose not prohibited by the terms of this Agreement, the Credit Agreement and each Other First
Lien Agreement then in effect; provided that, except as not prohibited by the Credit Agreement, any other Loan Documents and each Other First Lien Agreement then in effect, such rights and powers shall not be exercised in any manner that
could materially and adversely affect the rights and remedies of the Agent or any other Secured Party under this Agreement, the Credit Agreement, any other Loan Documents or any Other First Lien Agreement or the ability of the Secured Parties to
exercise the same. 
 (ii) The Agent shall promptly execute and deliver to Holdings, or cause to be executed and delivered to Holdings, all
such proxies, powers of attorney and other instruments as Holdings may reasonably request for the purpose of enabling Holdings to exercise the voting and/or consensual rights and powers it is entitled to exercise pursuant to
subparagraph (i) above. 
 (iii) Holdings shall be entitled to receive and retain any and all dividends, interest, principal and
other distributions paid on or distributed in respect of the Pledged Collateral to the extent and only to the extent that such dividends, interest, principal and other distributions are not prohibited by, and otherwise paid or distributed in
accordance with, the terms and conditions of the Credit Agreement, any other Loan Documents and each Other First Lien Agreement then in effect and applicable laws; provided that any noncash dividends, interest, principal or other
distributions that would constitute Pledged Borrower Stock, whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests of the Borrower, received in exchange for Pledged Borrower Stock or any part
thereof, or in redemption thereof or as a result of any merger, consolidation, acquisition or other exchange of assets to which the Borrower may be a party or otherwise, shall be and become part of the Pledged Collateral, and, if received by
Holdings, shall be promptly (and in any event within 45 days following their receipt (or such longer time as the Applicable First Lien Representative shall permit in its reasonable discretion)) delivered to the Agent, for the benefit of the Secured
Parties, in the same form as so received (endorsed in a manner reasonably satisfactory to the Agent). 

  
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 (b) Upon the occurrence and during the continuance of an Event of Default and upon written
notice by the Agent to Holdings of the Agent’s intention to exercise its rights hereunder, all rights of Holdings to receive dividends, interest, principal or other distributions with respect to the Pledged Securities that Holdings is
authorized to receive pursuant to paragraph (a)(iii) of this Section 3.08 shall cease, and all such rights shall thereupon become vested, for the benefit of the Secured Parties, in the Agent, which shall have the sole and exclusive
right and authority to receive and retain such dividends, interest, principal or other distributions ; provided that, notwithstanding the occurrence and continuation of an Event of Default, Holdings may continue to receive dividends and
distributions made pursuant to subclause (i), subclause (iii) and subclause (v) of Section 6.06(b) of the Credit Agreement. All dividends, interest, principal or other distributions received by Holdings contrary to the provisions of
this Section 3.08 shall not be commingled by Holdings with any of its other funds or property but shall be held separate and apart therefrom, shall be held in trust for the benefit of the Agent, for the benefit of the Secured Parties, and shall
be forthwith delivered to the Agent, for the benefit of the Secured Parties, in the same form as so received (endorsed in a manner reasonably satisfactory to the Agent). Any and all money and other property paid over to or received by the Agent
pursuant to the provisions of this paragraph (b) shall be retained by the Agent in an account to be established by the Agent upon receipt of such money or other property and shall be applied in accordance with the provisions of
Section 5.02. After all Events of Default have been cured or waived and the Borrower has delivered to the Agent a certificate to that effect, the Agent shall promptly repay to Holdings (without interest) all dividends, interest, principal or
other distributions that Holdings would otherwise be permitted to retain pursuant to the terms of paragraph (a)(iii) of this Section 3.08 and that remain in such account. 

(c) Upon the occurrence and during the continuance of an Event of Default and after written notice by the Agent to Holdings of the
Agent’s intention to exercise its rights hereunder, subject to applicable Gaming Laws, all rights of Holdings to exercise the voting and/or consensual rights and powers it is entitled to exercise pursuant to paragraph (a)(i) of this
Section 3.08, and the obligations of the Agent under paragraph (a)(ii) of this Section 3.08, shall cease, and all such rights shall thereupon become vested in the Agent, for the benefit of the Secured Parties, which shall have
the sole and exclusive right and authority to exercise such voting and consensual rights and powers; provided that, unless otherwise directed by the Applicable First Lien Representative, the Agent shall have the right from time to time
following and during the continuance of an Event of Default to permit Holdings to exercise such rights. After all Events of Default have been cured or waived and the Borrower has delivered to the Agent a certificate to that effect, all rights of
Holdings to exercise the voting and/or other consensual rights and powers it is entitled to exercise pursuant to paragraph (a)(i) of this Section 3.08 shall continue and all such rights shall no longer be vested in the Agent for the
benefit of the Secured Parties, and the obligations of the Agent under paragraph (a)(ii) of this Section 3.08 shall be reinstated, 

  
 13 

 (d) Any notice given by the Agent to Holdings suspending Holdings’ rights under
paragraph (a)(i) of this Section 3.08 may be given by telephone if promptly confirmed in writing and (ii) may suspend the rights of Holdings under paragraph (a)(i) or paragraph (a)(iii) of this
Section 3.08 in part without suspending all such rights (as specified by the Agent in its sole and absolute discretion) and without waiving or otherwise affecting the Agent’s rights to give additional notices from time to time suspending
other rights so long as an Event of Default has occurred and is continuing. 
 SECTION 3.09. Powers Coupled with an Interest.
All authorizations and agencies herein contained with respect to the Pledged Collateral are irrevocable and powers coupled with an interest. 

ARTICLE IV 
 [Reserved]

 ARTICLE V 

Remedies 

SECTION 5.01. Remedies Upon Default . In accordance with, and to the extent consistent with, the terms of any applicable
Intercreditor Agreement and applicable Requirements of Law (including Gaming Laws), the Agent may take any action specified in this Section 5.01. If an Event of Default shall occur and be continuing and the Agent shall have given notice of its
intent to exercise its rights hereunder to Holdings, the Agent, on behalf of the Secured Parties, may exercise, in addition to all other rights and remedies granted in this Agreement and in any other instrument or agreement securing, evidencing or
relating to the Secured Obligations, all rights and remedies of a secured party under the New York UCC or applicable law. Without limiting the generality of the foregoing, the Agent, without demand of performance or other demand, presentment,
protest, advertisement or notice of any kind (except any notice required by law referred to below and any notice referred to in the preceding sentence) to or upon Holdings, the Borrower, or any other Person (all and each of which demands, defenses,
advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Pledged Collateral, or any part thereof, and/or may forthwith sell, assign, give option or options to purchase or
otherwise Dispose of and deliver the Pledged Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, in the over-the-counter market, at any exchange or broker’s board
or office of the Agent or any Secured Party or elsewhere upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Agent
shall give Holdings 10 days’ written notice (which Holdings agrees is reasonable notice within the meaning of Section 9-611 of the New York UCC or its equivalent in other jurisdictions) of the
Agent’s intention to make any Disposition of Pledged Collateral. Such notice, in the case of a public sale, shall state the time and place for such sale and, in the case of a sale at a broker’s board or on a securities exchange, shall
state the board or exchange at which such sale is to be made and the day on which the Pledged Collateral, or portion thereof, will first be offered for sale at such board or exchange. Any such public sale shall be held at such time or times within
ordinary business hours and at such place or places as the Agent may fix and state in the notice (if any) of such sale. At any such sale, the Pledged Collateral, or the portion thereof, to be sold may be sold in one lot as an entirety or in separate
parcels, as the Agent may 

  
 14 

 
(in its sole and absolute discretion) determine. The Agent shall not be obligated to make any sale of any Pledged Collateral if it shall determine not to do so, regardless of the fact that notice
of sale of such Pledged Collateral shall have been given. The Agent or any Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any
part of the Pledged Collateral so sold, free of any right or equity of redemption in Holdings, which right or equity is hereby waived or released. 

SECTION 5.02. Application of Proceeds. The Agent shall, subject to any applicable Intercreditor Agreement, promptly apply the
proceeds, moneys or balances of any collection or sale of Pledged Collateral realized through the exercise by the Agent of its remedies hereunder, as well as any Pledged Collateral consisting of cash at any time when remedies are being exercised
hereunder, as follows: 
 FIRST, to the payment of all out-of-pocket costs and expenses incurred by the Agent in connection
with such collection or sale or otherwise in connection with this Agreement, any other Loan Document, any Other First Lien Agreement or any of the Guaranteed Obligations, including all court costs and the fees and expenses of its agents and legal
counsel, the repayment of all advances made by the Agent hereunder or under any other Loan Document or any Other First Lien Agreement on behalf of Holdings, any other costs or expenses incurred in connection with the exercise of any right or remedy
hereunder or under any other Loan Document or any Other First Lien Agreement, and other fees, indemnities and other amounts owing or reimbursable to the Agent under any Loan Document or any Other First Lien Agreement in its capacity as such; 

SECOND, to the payment in full of the Guaranteed Obligations secured by such Pledged Collateral (the amounts so applied to be
distributed among the Series of Secured Obligations pro rata based on the respective amounts of such Secured Obligations owed to the applicable Secured Parties in respect of each Series on the date of any such distribution (or in accordance
with such other method of distribution as may be set forth in any applicable Intercreditor Agreement), with (x) the portion thereof distributed to the Credit Agreement Secured Parties to be further distributed in accordance with the order of
priority set forth in Section 7.02 of the Credit Agreement and (y) the portion thereof distributed to the Secured Parties of any other Series to be further distributed in accordance with the applicable provisions of the Other First Lien
Agreements governing such Series); and 
 THIRD, to Holdings, its successors or assigns, or as a court of competent
jurisdiction may otherwise direct; 
 provided, that in no event shall the proceeds of any collection or sale of any Specified Excluded Collateral be
applied to the relevant Series of Secured Obligations under any Other First Lien Agreement. 

  
 15 

 The Agent shall have absolute discretion as to the time of application of any such proceeds,
moneys or balances in accordance with this Agreement. Upon the request of the Agent prior to any distribution under this Section 5.02, each Authorized Representative shall provide to the Agent certificates, in form and substance reasonably
satisfactory to the Agent, setting forth the respective amounts referred to in this Section 5.02 that each applicable Secured Party or its Authorized Representative believes it is entitled to receive, and the Agent shall be fully entitled to
rely on such certificates. Upon any sale of Pledged Collateral by the Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the purchase money by the Agent or of the officer making the sale
shall be a sufficient discharge to the purchaser or purchasers of the Pledged Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Agent or such
officer or be answerable in any way for the misapplication thereof. 
 SECTION 5.03. Securities Act, Etc. In view of the
position of Holdings in relation to the Pledged Collateral, or because of other current or future circumstances, a question may arise under the Securities Act, or any similar federal statute hereafter enacted analogous in purpose or effect (such Act
and any such similar statute as from time to time in effect being called the “Federal Securities Laws”) with respect to any Disposition of the Pledged Collateral permitted hereunder. Holdings understands that compliance with the
Federal Securities Laws might very strictly limit the course of conduct of the Agent if the Agent were to attempt to Dispose of all or any part of the Pledged Collateral, and might also limit the extent to which or the manner in which any subsequent
transferee of any Pledged Collateral could Dispose of the same. Similarly, there may be other legal restrictions or limitations affecting the Agent in any attempt to Dispose of all or part of the Pledged Collateral under applicable Blue Sky or other
state securities laws or similar laws analogous in purpose or effect. Holdings acknowledges and agrees that in light of such restrictions and limitations, the Agent, subject to any applicable Intercreditor Agreement, in its sole and absolute
discretion, (a) may proceed to make such a sale whether or not a registration statement for the purpose of registering such Pledged Collateral or part thereof shall have been filed under the Federal Securities Laws or, to the extent applicable,
Blue Sky or other state securities laws and (b) may approach and negotiate with a single potential purchaser to effect such sale. Holdings acknowledges and agrees that any such sale might result in prices and other terms less favorable to the
seller than if such sale were a public sale without such restrictions. In the event of any such sale, the Agent shall incur no responsibility or liability for selling all or any part of the Pledged Collateral at a price that the Agent, subject to
any applicable Intercreditor Agreement, in its sole and absolute discretion, may in good faith deem reasonable under the circumstances, notwithstanding the possibility that a substantially higher price might have been realized if the sale were
deferred until after registration as aforesaid or if more than a single purchaser were approached. The provisions of this Section 5.03 will apply notwithstanding the existence of a public or private market upon which the quotations or sales
prices may exceed substantially the price at which the Agent sells. 

  
 16 

 ARTICLE VI 

Miscellaneous 

SECTION 6.01. Notices. All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in
writing and given as provided in Section 9.01 of the Credit Agreement (whether or not then in effect), and all notices to any holder of obligations under any Other First Lien Agreements shall be given at its address set forth in the Other First
Lien Secured Party Consent or in the First Lien Intercreditor Agreement (upon and during the effectiveness thereof), in each case of the foregoing, as such address may be changed by written notice to the Agent and Holdings. 

SECTION 6.02. Security Interest Absolute. To the extent not prohibited by applicable law and subject to Section 2.01(h), all
rights of the Agent hereunder, the security interest in the Pledged Collateral and all obligations of Holdings hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of any Loan Document, any
other agreement with respect to any of the Secured Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all or any of the Secured
Obligations, or any other amendment or waiver of or any consent to any departure from any Loan Document or any other agreement or instrument, (c) any exchange, release or non-perfection of any Lien on other collateral, or any release or
amendment or waiver of or consent under or departure from any guarantee, securing or guaranteeing all or any of the Secured Obligations or (d) any other circumstance that might otherwise constitute a defense available to, or a discharge of,
Holdings in respect of the Secured Obligations or this Agreement (other than a defense of payment or performance). 
 SECTION 6.03.
Limitation by Law. All rights, remedies and powers provided in this Agreement may be exercised only to the extent that the exercise thereof does not violate any applicable Requirement of Law (including any Gaming Law), and all the provisions
of this Agreement are intended to be subject to all applicable Requirements of Law (including any Gaming Law) that may be controlling and to be limited to the extent necessary so that they shall not render this Agreement invalid, unenforceable, in
whole or in part, or not entitled to be recorded, registered or filed under the provisions of any applicable Requirement of Law (including any Gaming Law). 

SECTION 6.04. Binding Effect; Several Agreement. This Agreement shall become effective as to any party to this Agreement when a
counterpart hereof executed on behalf of such party shall have been delivered to the Agent and a counterpart hereof shall have been executed on behalf of the Agent, and thereafter shall be binding upon such party and the Agent and their respective
permitted successors and assigns, and shall inure to the benefit of such party, the Agent and the other Secured Parties and their respective permitted successors and assigns, except that no party shall have the right to assign or transfer its rights
or obligations hereunder or any interest herein or in the Pledged Collateral (and any such assignment or transfer shall be void) except as not prohibited by this Agreement or the Credit Agreement or, after the termination of the Credit Agreement,
any Other First Lien Agreement. This Agreement shall be construed as a separate agreement with respect to each party and may be amended, modified, supplemented, waived or released in accordance with Section 6.09 or 6.15, as applicable. 

SECTION 6.05. Successors and Assigns. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be
deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of Holdings or the Agent that are contained in this Agreement shall bind and inure to the benefit of their respective
permitted successors and assigns. 

  
 17 

 SECTION 6.06. Agent’s Fees and Expenses. 

(a) The parties hereto agree that the Agent shall be entitled to reimbursement of its expenses incurred hereunder by Holdings, and the Agent
and other Indemnitees shall be indemnified by Holdings, in each case of this clause (a), mutatis mutandis, as provided in Section 9.05 of the Credit Agreement and the equivalent provision of any Other First Lien Agreement. 

(b) Any such amounts payable as provided hereunder shall be additional Secured Obligations secured hereby and by the other Security Documents.
The provisions of this Section 6.06 shall remain operative and in full force and effect regardless of the termination of this Agreement, any other Loan Document or any Other First Lien Agreement, the consummation of the transactions
contemplated hereby, the repayment of any of the Secured Obligations, the invalidity or unenforceability of any term or provision of this Agreement, any other Loan Document or any Other First Lien Agreement, or any investigation made by or on behalf
of the Agent or any other Secured Party. All amounts due under this Section 6.06 shall be payable within fifteen days (or such longer period as the Agent may agree) of written demand therefor, accompanied by reasonable documentation with
respect to any reimbursement, indemnification or other amount requested. 
 (c) The agreements in this Section 6.06 shall survive the
resignation of the Agent and the termination of this Agreement. 
 SECTION 6.07. Agent Appointed Attorney-in-Fact. Holdings
hereby appoints the Agent the attorney-in-fact of Holdings for the purpose of carrying out the provisions of this Agreement and, upon the occurrence and during the continuance of an Event of Default, taking any action and executing any instrument
that the Agent may deem necessary or advisable to accomplish the purposes hereof, which appointment is irrevocable and coupled with an interest. Without limiting the generality of the foregoing, subject to any applicable Requirements of Law
(including Gaming Laws) and any applicable Intercreditor Agreement, the Agent shall have the right, upon the occurrence and during the continuance of an Event of Default, with full power of substitution either in the Agent’s name or in the name
of Holdings, (a) to receive, endorse, assign or deliver any and all notes, acceptances, checks, drafts, money orders or other evidences of payment relating to the Pledged Collateral or any part thereof; (b) to demand, collect, receive
payment of, give receipt for and give discharges and releases of all or any of the Pledged Collateral; (c) to ask for, demand, sue for, collect, receive and give acquittance for any and all moneys due or to become due under and by virtue of any
Pledged Collateral; (d) to sign the name of Holdings on any invoice or bill of lading relating to any of the Pledged Collateral; (e) to commence and prosecute any and all suits, actions or proceedings at law or in equity in any court of
competent jurisdiction to collect or otherwise realize on all or any of the Pledged Collateral or to enforce any rights in respect of any Pledged Collateral; (f) to settle, compromise, compound, adjust or defend any actions, suits or
proceedings relating to all or any of the Pledged Collateral; and (g) to use, sell, assign, transfer, pledge, make any agreement with respect to or otherwise deal with all or any of the Pledged Collateral, and to do all other acts and things
necessary to 

  
 18 

 
carry out the purposes of this Agreement, as fully and completely as though the Agent were the absolute owner of the Pledged Collateral for all purposes; provided that nothing herein contained
shall be construed as requiring or obligating the Agent to make any commitment or to make any inquiry as to the nature or sufficiency of any payment received by the Agent, or to present or file any claim or notice, or to take any action with respect
to the Pledged Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The Agent and the other Secured Parties shall be accountable only for amounts actually received as a result of the
exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to Holdings for any act or failure to act hereunder, except for their own gross negligence or willful misconduct.

 SECTION 6.08. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 6.09. Waivers; Amendment; Extension of
Time. 
 (a) No failure or delay by the Agent, any Issuing Bank, any Lender or any other Secured Party in exercising any right, power or
remedy hereunder or under any other Loan Document or any Other First Lien Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy, or any abandonment or discontinuance of steps to
enforce such a right, power or remedy, preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The rights, powers and remedies of the Agent, any Issuing Bank, the Lenders or any other Secured Party
hereunder and under the other Loan Documents and any Other First Lien Agreement are cumulative and are not exclusive of any rights, powers or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any
departure by Holdings therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 6.09, and then such waiver or consent shall be effective only in the specific instance and for the purpose
for which given. Without limiting the generality of the foregoing, the making of a Loan, the increase of any Other First Lien Obligations or the issuance of a Letter of Credit shall not be construed as a waiver of any Default or Event of Default,
regardless of whether the Agent, any Lender, any Issuing Bank or any other Secured Party may have had notice or knowledge of such Default or Event of Default at the time. No notice or demand on Holdings in any case shall entitle any Loan Party to
any other or further notice or demand in similar or other circumstances. 
 (b) Neither this Agreement nor any provision hereof may be
waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Agent and Holdings, subject to any consent required in accordance with Section 9.08 of the Credit Agreement and any equivalent provision in
each applicable Other First Lien Agreement and, by each other Authorized Representative to the extent required by (and in accordance with) such applicable Other First Lien Agreement, or, in each case, as otherwise provided in any applicable
Intercreditor Agreement. The Agent may conclusively rely on a certificate of an officer of the Borrower as to whether any amendment contemplated by this Section 6.09(b) is permitted. 

  
 19 

 (c) Notwithstanding anything to the contrary contained herein, the Agent may grant extensions of
time or waivers of the requirement for the creation or perfection of security interests in or the obtaining of insurance (including title insurance) or surveys with respect to particular assets (including extensions beyond the date hereof for the
perfection of security interests in the assets of Holdings on such date) where it reasonably determines, in consultation with the Borrower, that perfection or obtaining of such items cannot be accomplished without undue effort or expense by the time
or times at which it would otherwise be required by this Agreement, any other Loan Documents or any Other First Lien Agreement. 

SECTION 6.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT, ANY OTHER LOAN DOCUMENTS OR ANY OTHER FIRST LIEN AGREEMENT. EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 6.10. 

SECTION 6.11. Severability. In the event any one or more of the provisions contained in this Agreement should be held invalid,
illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby. The parties shall endeavor in good-faith negotiations to replace
the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 6.12. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall constitute an original
but all of which when taken together shall constitute but one contract, and shall become effective as provided in Section 6.04. Delivery of an executed counterpart to this Agreement by facsimile or other electronic transmission shall be as
effective as delivery of a manually signed original. 
 SECTION 6.13. Headings. Article and Section headings and the
Table of Contents used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

SECTION 6.14. Jurisdiction; Consent to Service of Process. 

(a) Subject to the final sentence of this clause (a), each of the parties hereto hereby irrevocably and unconditionally submits, for itself
and its property, to the exclusive jurisdiction of any New York State court or federal court of the United States of America sitting in New York County, and of the United States District Court of the Southern District of New York, and any appellate
court from any thereof, in any action or proceeding 

  
 20 

 
arising out of or relating to this Agreement, any other Loan Document, any Other First Lien Agreement or the transactions relating hereto or thereto, or for recognition or enforcement of any
judgment, and each of the parties hereto hereby irrevocably and unconditionally submits to the jurisdiction of such courts and agrees that all claims in respect of any such action, litigation or proceeding may be heard and determined in such
New York State court or, to the fullest extent permitted by applicable law, in such federal court. Each of the parties hereto agrees that a final judgment in any such action, litigation or proceeding shall be conclusive and may be enforced in
other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement, any other Loan Document or any Other First Lien Agreement shall affect any right that the Agent or any other Secured Party may otherwise
have to bring any action or proceeding relating to this Agreement, any other Loan Document or any Other First Lien Agreement against Holdings or or its properties in the courts of any jurisdiction. 

(b) Each party to this Agreement hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so,
any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement, any other Loan Document or any Other First Lien Agreement in any New York State or federal
court of the United States of America sitting in New York County, and any appellate court from any thereof. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court. 
 (c) Each party to this Agreement irrevocably consents to service of process
in the manner provided for notices in Section 6.01. Nothing in this Agreement, any other Loan Document or any Other First Lien Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law.

 SECTION 6.15. Termination or Release. 

(a) This Agreement, the pledges and guarantees made herein, the Liens in the Pledged Collateral created hereby and all other security
interests granted hereby, shall automatically terminate and/or be released (i) upon the occurrence of the Termination Date or, if any Other First Lien Obligations secured by the Lien granted hereby are outstanding on the Termination Date, the
date after the Termination Date when all such Other First Lien Obligations (other than contingent or unliquidated obligations or liabilities not then due and any other obligations that, by the terms of any Other First Lien Agreements, are not
required to be paid in full prior to termination and release of the Pledged Collateral) have been paid in full and the Secured Parties have no further commitment to extend credit under any such Other First Lien Agreement, or (ii) otherwise in
accordance with Section 9.18 of the Credit Agreement and the equivalent provision of any applicable Other First Lien Agreement. 
 (b)
The security interest in the Pledged Collateral shall be automatically released, all without delivery of any instrument or performance of any act by any party, (i) upon any sale or other transfer by Holdings of any Pledged Collateral that is
permitted by the Credit Agreement and each Other First Lien Agreement then in effect to any person that is not Holdings or a Pledgor (as defined in the Collateral Agreement), (ii) upon the effectiveness of any written consent to the release of
the security interest granted hereby in any Pledged Collateral pursuant to Section 9.08 of the Credit Agreement and any equivalent provision of each applicable Other First Lien Agreement (in each case, to the extent required thereby), or
(iii) as otherwise may be provided in any applicable Intercreditor Agreement. 

  
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 (c) In connection with any termination or release pursuant to this Section 6.15, the Agent
shall execute and deliver to Holdings, at Holdings’ expense, all documents (forms of which shall be reasonably acceptable to the Agent) that Holdings shall reasonably request to evidence such termination or release (including Uniform Commercial
Code termination statements), and will duly assign and transfer to Holdings, such of the Pledged Collateral that may be in the possession of the Agent and has not theretofore been sold or otherwise applied or released pursuant to this Agreement. Any
execution and delivery of documents pursuant to this Section 6.15 shall be without recourse to or warranty by the Agent. In connection with any release pursuant to this Section 6.15, Holdings shall be permitted to take any action in
connection therewith consistent with such release including, without limitation, the filing of Uniform Commercial Code termination statements. Upon the receipt of any necessary or proper instruments of termination, satisfaction or release prepared
by the Borrower pursuant to this Section 6.15, the Agent shall execute, deliver or acknowledge such instruments or releases (forms of which shall be reasonable acceptable to the Agent) to evidence the release of any Pledged Collateral permitted
to be released pursuant to this Agreement. Holdings agrees to pay all reasonable and documented out-of-pocket expenses incurred by the Agent (and its representatives and counsel) in connection with the execution and delivery of such release
documents or instruments. 
 SECTION 6.16. Compliance with Gaming Laws. Notwithstanding anything to the contrary set forth in
this Agreement, any other Loan Document or any Other First Lien Agreement, the Agent, on behalf of the Secured Parties, acknowledges and agrees that: 

(a) the pledge of the Pledged Borrower Stock, pursuant to this Agreement, any other Loan Document or any Other First Lien Agreement, will not
be effective without the prior approval of the Gaming Authorities having jurisdiction in Nevada (the “Nevada Gaming Authorities”), and no certificates evidencing any such Pledged Borrower Stock may be delivered to the Agent until
such approval has been obtained. Furthermore, no amendment of this Agreement shall be effective until any approvals required from the Nevada Gaming Authorities under the Gaming Laws applicable in the State of Nevada (“Nevada Gaming
Laws”) have been obtained; 
 (b) in the event that Agent exercises one or more of the remedies set forth in this Agreement with
respect to the Pledged Borrower Stock, including, without limitation, the foreclosure, transfer, sale, distribution or other disposition of any interest therein (except back to Holdings), the exercise of voting and consensual rights, and any other
resort to or enforcement of the security interest in such Pledged Borrower Stock, such action will require the separate and prior approval of the Nevada Gaming Authorities or the licensing or finding of suitability of the Agent or any transferee
thereof unless such licensing or suitability requirement is waived thereby; 

  
 22 

 (c) the Agent, and any custodial agent of Agent in the State of Nevada, will be required to
comply with the conditions, if any, imposed by the Nevada Gaming Authorities in connection with their approval of the pledge granted hereunder, including, without limitation, requirements that the Agent or its custodial agent maintain the
certificates evidencing the Pledged Borrower Stock at a location in Nevada (notice of which the Agent or its custodial agent shall provide to the Nevada Gaming Authorities) and that the Agent or its custodial agent permit agents or employees of the
Nevada Gaming Authorities to inspect such certificates upon request; 
 (d) neither the Agent nor any custodial agent of the Agent will be
permitted to surrender possession of any Pledged Borrower Stock to any person other than Holdings without the prior approval of the Nevada Gaming Authorities or as otherwise permitted by the Gaming Laws; 

(e) any approval of the Nevada Gaming Authorities of this Agreement, or any amendment hereto, does not constitute approval, either express or
implied, of the Agent to take any actions provided for in this Agreement, for which separate approval by the Nevada Gaming Authorities may be required by the Gaming Laws; and 

(f) the Agent, the Secured Parties and their respective successors and assigns are subject to being called forward by the Nevada Gaming
Authorities in their sole and absolute discretion, for licensing or a finding of suitability in order to remain entitled to the benefits of this Agreement, any other Loan Documents and any Other First Lien Agreement. 

SECTION 6.17. Subject to Any Applicable Intercreditor Agreement. Notwithstanding anything herein to the contrary, (i) the
Liens and security interests granted to the Agent for the benefit of the Secured Parties pursuant to this Agreement are expressly subject to any applicable Intercreditor Agreement to the extent provided therein and (ii) the exercise of any
right or remedy by the Agent hereunder or the application of proceeds (including insurance and condemnation proceeds) of any Pledged Collateral are subject to any applicable Intercreditor Agreement to the extent provided therein. In the event of any
conflict between the terms of such applicable Intercreditor Agreement and the terms of this Agreement, the terms of such applicable Intercreditor Agreement shall govern. 

SECTION 6.18. Other First Lien Obligations. On or after the date hereof and so long as such obligations are not prohibited by the
Credit Agreement and any Other First Lien Agreement then in effect, the Borrower may from time to time designate obligations in respect of Indebtedness to be secured (except with respect to any applicable Specified Excluded Collateral) on a pari
passu basis with then outstanding Secured Obligations as Other First Lien Obligations hereunder by delivering to the Agent and each Authorized Representative (a) a certificate signed by a Responsible Officer of the Borrower (i) identifying
the obligations so designated and the initial aggregate principal amount or face amount thereof, (ii) stating that such obligations are designated as Other First Lien Obligations for purposes hereof, (iii) representing that such
designation of such obligations as Other First Lien Obligations is not prohibited by the terms of the Credit Agreement and any Other First Lien Agreement then in effect and (iv) specifying the name and address of the Authorized Representative
for such obligations, (b) a fully executed Other First Lien Secured Party Consent and (c) if not already in effect, execute and deliver the First Lien Intercreditor Agreement (or a joinder thereto in the form (and to the extent, if any)
required thereby to the extent such First Lien Intercreditor Agreement is then in effect). The 

  
 23 

 
Agent and each Authorized Representative agree that upon the satisfaction of all conditions set forth in the preceding sentence, (x) the Agent shall act as agent under and subject to the
terms of the Security Documents for the benefit of all Secured Parties, including without limitation, any Secured Parties that hold any such Other First Lien Obligations, and (y) the Agent and each Authorized Representative agrees to the
appointment, and acceptance of the appointment, of the Agent as agent for the holders of such Other First Lien Obligations as set forth in each Other First Lien Secured Party Consent and agree, on behalf of itself and each Secured Party it
represents, to be bound by this Agreement and the First Lien Intercreditor Agreement. The rights and obligations of each party to this Agreement shall remain in full force and effect notwithstanding the addition of any new Secured Obligations to
this Agreement. 
 SECTION 6.19. Person Serving as Agent. On the Closing Date, the Agent hereunder is the same person that is
the Credit Agreement Agent. Written notice of resignation by the Credit Agreement Agent pursuant to the Credit Agreement shall also constitute notice of resignation as the Agent under this Agreement. Upon the acceptance of any appointment as the
Administrative Agent under (and as defined in) the Credit Agreement by a successor, that successor shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent pursuant hereto. Immediately
upon the occurrence of the Discharge (as such term or equivalent term is defined in the First Lien Intercreditor Agreement) of Credit Agreement Loan Obligations, if any other Series of Secured Obligations is then outstanding, the Authorized
Representative of such Series (or, if more than one such Series is outstanding, the applicable Authorized Representative determined pursuant to the terms of (and as defined in) the applicable Intercreditor Agreement) shall be deemed the Agent for
all purposes under this Agreement. The Agent immediately prior to any change in Agent pursuant to this Section 6.19 (the “Prior Agent”) shall be deemed to have assigned all of its rights, powers and duties hereunder to the
successor Agent determined in accordance with this Section 6.19 (the “Successor Agent”) and the Successor Agent shall be deemed to have accepted, assumed and succeeded to such rights, powers and duties. The Prior Agent shall
cooperate with Holdings and such Successor Agent to ensure that all actions are taken that are necessary or reasonably requested by the Successor Agent to vest in such Successor Agent the rights granted to the Prior Agent hereunder with respect to
the Pledged Collateral, including (a) the filing of amended financing statements in the appropriate filing offices, (b) to the extent that the Prior Agent holds, or a third party holds on its behalf, physical possession of or
“control” (as defined in the New York UCC or the Uniform Commercial Code of any other applicable jurisdiction) over Pledged Collateral pursuant to this Agreement or any other Security Document, the delivery to the Successor Agent of
the Pledged Collateral in its possession or control together with any necessary endorsements to the extent required by this Agreement, and (c) the execution and delivery of any further documents, financing statements or agreements and the
taking of all such further action that may be required under any applicable law, or that the Successor Agent may reasonably request, all without recourse to, or representation or warranty by, the Agent, and at the sole cost and expense of Holdings.
The Agent hereunder shall at all times be the same person that is the “Collateral Agent” under the First Lien Intercreditor Agreement. Written notice of resignation by the “Collateral Agent” pursuant to the First Lien
Intercreditor Agreement shall also constitute notice of resignation as the Agent under this Agreement. Upon the acceptance of any appointment as the “Collateral Agent” under the First Lien Intercreditor Agreement by a successor
“Collateral Agent”, that successor “Collateral Agent” shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent pursuant hereto. 

  
 24 

 SECTION 6.20. General Authority of the Agent. 

(a) By acceptance of the benefits of this Agreement and any other Security Documents, each Secured Party (whether or not a signatory hereto)
shall be deemed irrevocably (i) to consent to the appointment of the Agent as its agent hereunder and under such other Security Documents, (ii) to confirm that the Agent shall have the authority to act as the exclusive agent of such
Secured Party for the enforcement of any provision of this Agreement and such other Security Documents against Holdings, the exercise of remedies hereunder or thereunder and the giving or withholding of any consent or approval hereunder thereunder
relating to any Pledged Collateral or Holdings’ obligations with respect thereto, (iii) to agree that it shall not take any action to enforce any provisions of this Agreement or any other Security Document against Holdings, to exercise any
remedy hereunder or thereunder or to give any consents or approvals hereunder or thereunder except as expressly provided in this Agreement or any other Security Document and (iv) to agree to be bound by the terms of this Agreement, any other
Security Documents and any Intercreditor Agreement then in effect. 
 (b) Holdings acknowledges that the rights and responsibilities of the
Agent under this Agreement with respect to any action taken by the Agent or the exercise or non-exercise by the Agent of any option, voting right, request, judgment or other right or remedy provided for herein or resulting or arising out of this
Agreement shall, as between the Agent and the Secured Parties, be governed by the Credit Agreement, any Other First Lien Agreement and such other agreements with respect thereto as may exist from time to time among them, but, as between the Agent
and Holdings, the Agent shall be conclusively presumed to be acting as agent for the applicable Secured Parties with full and valid authority so to act or refrain from acting, and Holdings shall not be under any obligation, or entitlement, to make
any inquiry respecting such authority. 
 SECTION 6.21. Application of Gaming Laws. Notwithstanding anything herein to the
contrary, this Agreement and any Other First Lien Agreements are subject to the applicable Gaming Laws. Without limiting the foregoing, the Secured Parties acknowledge that (i) they are subject to the jurisdiction of the Gaming Authorities, in
their discretion, for licensing, qualification or findings of suitability or to file or provide other information, and (ii) all rights, remedies and powers in or under this Agreement and the Other First Lien Agreements, including with respect
to the Pledged Collateral (including the pledge and delivery of Pledged Collateral) and the transportation, ownership and operation of gaming machines and/or facilities may be subject to the jurisdiction of the Gaming Authorities, and may be
exercised only to the extent that the exercise thereof does not violate any applicable provisions of the Gaming Laws and only to the extent that required approvals (including prior approvals), if any, are obtained from the relevant Gaming
Authorities. 
 [Signature Pages Follow] 

  
 25 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year
first above written. 
  

			
	AP GAMING HOLDINGS, LLC,
	as Holdings
		
	 By:
	 	/s/ Robert Miodunski
		 	Name: Robert Miodunski
		 	Title: Authorized Signatory

  
 [Holdings Guarantee and
Pledge Agreement] 

 
			
	 CITICORP NORTH AMERICA, INC.,

	as Agent
		
	By:	 	/s/ Matthew Burke
		 	Name: Matthew Burke
		 	Title: Vice President

  
 [Holdings Guarantee and
Pledge Agreement] 

 Schedule I 

to Holdings Guarantee and Pledge Agreement 

DESCRIPTION OF PLEDGED BORROWER STOCK 
  

											
	 Pledgor
	  	Issuer	  	Certificate
No.	 	  	Percentage of
Issued Equity
Interests	 
	 AP Gaming Holdings, LLC
	  	AP Gaming I, LLC	  	 	N/A	  	  	 	100	% 

 Exhibit I 

to Holdings Guarantee and Pledge Agreement 

[Form of] 
 OTHER FIRST
LIEN SECURED PARTY CONSENT 
 [Name of Other First Lien Secured 

Party] [Address of Other First 

Lien Secured Party] 
 [Date]

  

	
	 
	 
	
	 
	
	 

 The undersigned is the Authorized Representative for Persons wishing to become Secured Parties (the
“New Secured Parties”) under the Holdings Guarantee and Pledge Agreement, dated as of December 20, 2013 (as heretofore amended and/or supplemented, the “Guarantee and Pledge Agreement” (terms used without
definition herein have the meanings assigned to such term in the Guarantee and Pledge Agreement)), between AP GAMING HOLDINGS, LLC and CITICORP NORTH AMERICA, INC., as collateral agent (the “Agent”). 

In consideration of the foregoing, the undersigned hereby: 

(i) represents that the Authorized Representative has been duly authorized by the New Secured Parties to become a party to the
Guarantee and Pledge Agreement and the First Lien Intercreditor Agreement on behalf of the New Secured Parties under that [DESCRIBE OPERATIVE AGREEMENT] (the “New Secured Obligation”) and to act as the Authorized Representative for
the New Secured Parties; 
 (ii) acknowledges that the Authorized Representative has received a copy of the Guarantee and
Pledge Agreement and the First Lien Intercreditor Agreement; 
 (iii) appoints and authorizes the Agent to take such action
as agent on its behalf and on behalf of all other Secured Parties and to exercise such powers under the Guarantee and Pledge Agreement and First Lien Intercreditor Agreement as are delegated to the Agent by the terms thereof, together with all such
powers as are reasonably incidental thereto; 
 (iv) accepts and acknowledges the terms of the First Lien Intercreditor
Agreement applicable to it and the New Secured Parties and agrees to serve as Authorized Representative for the New Secured Parties with respect to the New Secured Obligations and agrees on its own behalf and on behalf of the New Secured

 
Parties to be bound by the terms thereof applicable to holders of Other First Lien Obligations, with all the rights and obligations of a Secured Party thereunder and bound by all the provisions
thereof (including, without limitation, Section 2.02(b) thereof) as fully as if it had been a Secured Party on the effective date of the Guarantee and Pledge Agreement and the First Lien Intercreditor Agreement and agrees that its address for
receiving notices pursuant to the Guarantee and Pledge Agreement and the First Lien Intercreditor Agreement shall be as follows: 

[Address] 
 (v)
confirms the authority of the Agent to enter into such agreements on its behalf and on behalf of the New Secured Parties and agrees on its own behalf and on behalf of the New Secured Parties to be bound by the terms thereof applicable to it and the
New Secured Parties as fully as if it had been a party to each such agreement on behalf of itself and the New Secured Parties. 

The Agent, by acknowledging and agreeing to this Other First Lien Secured Party Consent, accepts the appointment set forth in
clause (iii) above. 
 THIS OTHER FIRST LIEN SECURED PARTY CONSENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

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