Document:

PROMISSORY
      NOTE

    

    
      	
              $38,000,000

            	
              Reno,
                Nevada

            	
              August
                22, 2008

            

    

    

    FOR
      VALUE
      RECEIVED, GameTech International, Inc., a Delaware corporation (“Borrower,”
whether one or more) hereby promises to pay to the order of U.S. Bank National
      Association (together with any and all of its successors and assigns and/or
      any
      other holder of this Note, “Holder”) as Agent, without offset, in immediately
      available funds in lawful money of the United States of America, at P.O. Box
      790401, St. Louis, MO 63179-0401, the principal sum of THIRTY EIGHT MILLION
      DOLLARS ($38,000,000) together with interest on the unpaid principal balance
      of
      this Note from day to day outstanding as hereinafter provided.

    

    1. Payment
      Schedule and Maturity Date.
      The
      entire principal balance of this Note then unpaid shall be due and payable
      in
      full on August 31, 2013 (the “Maturity Date”), the final maturity of this Note.
      Accrued unpaid interest shall be due and payable on September 30, 2008 and
      on
      the last day of each succeeding month thereafter until all principal and accrued
      interest owing on this Note shall have been fully paid and satisfied. Principal
      is payable in quarterly installments of $1,117,647.06 each, beginning October
      31, 2008, and on the same date of each THIRD month thereafter (except that
      if a
      given month does not have such a date, the last day of such month), plus a
      final
      payment equal to all unpaid principal and accrued unpaid interest on the
      Maturity Date.

    

    2. Security;
      Loan Documents.
      This
      Note is issued pursuant to the terms of a Loan Agreement of even date herewith
      between Borrower, U.S. Bank National Association, as Agent, U.S. Bank National
      Association and Bank of the West, as Lenders and the Lenders that become a
      party
      thereto in the future (the “Loan
      Agreement”).
      Capitalized terms used herein and not otherwise defined shall have the meaning
      set forth in the Loan Agreement. The security for this Note includes the Deed
      of
      Trust and the Security
      Agreements.  

    

    3. Interest
      Rate.
      Interest on each advance hereunder shall accrue at an annual rate (the
“Applicable Rate”) equal to 2.80% plus the one-month LIBOR rate quoted by Agent
      from Reuters Screen LIBOR01 Page or any successor thereto , which shall be
      that
      one-month LIBOR rate in effect two New York Banking Days prior to the Reprice
      Date, adjusted for any reserve requirement and any subsequent costs arising
      from
      a change in government regulation, such rate to be reset monthly on each Reprice
      Date. The term “New York Banking Day” means any date (other than a Saturday or
      Sunday) on which commercial banks are open for business in New York, New York.
      The term “Reprice Date” means the last day of each month. If the initial advance
      under this Note occurs other than on the Reprice Date, the initial one-month
      LIBOR rate shall be that one-month LIBOR rate in effect two New York Banking
      Days prior to the date of the initial advance, which rate plus the percentage
      described above shall be in effect until the next Reprice Date. Agent’s internal
      records of applicable interest rates shall be determinative in the absence
      of
      manifest error. In
      the
      event after the date of initial funding any governmental authority subjects
      Agent or any Lender to any new or additional charge, fee, withholding or tax
      of
      any kind with respect to any loans hereunder or changes the method of taxation
      of such loans or changes the reserve or deposit requirements applicable to
      such
      loans, the Borrower shall pay to Agent or such Lender such additional amounts
      as
      will compensate Agent or such Lender for such costs or lost income resulting
      therefrom as reasonably determined by the Agent.

     

    
      
        
        

      

      
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    3.1 Computations
      and Determinations.
      All
      interest shall be computed on the basis of a year of 360 days and paid for
      the
      actual number of days elapsed (including the first day but excluding the last
      day). Agent shall determine each interest rate applicable to any and all of
      the
      indebtedness to Lenders evidenced, governed or secured by or arising under
      this
      Note or any other Loan Document (the “Indebtedness”),
      in
      accordance with this Note and its determination thereof shall be conclusive
      in
      the absence of manifest error. The books and records of Agent shall be
prima facie
      evidence
      of all sums owing to Agent from time to time under this Note, but the failure
      to
      record any such information shall not limit or affect the obligations of
      Borrower under the Loan Documents.

    

    3.2 Unavailability
      of Rate.
      If
      Agent
      determines that no adequate basis exists for determining the one- month LIBOR
      Rate or that the one-month LIBOR Rate will not adequately and fairly reflect
      the
      cost to Lenders of funding the Loan, or that any applicable law or regulation
      or
      compliance therewith by Lenders prohibits or restricts or makes impossible
      the
      charging of interest based on the one-month LIBOR Rate and Agent so notifies
      Borrower, then until Agent notifies Borrower that the circumstances giving
      rise
      to such suspension no longer exist, interest shall accrue and be payable on
      the
      unpaid principal balance of this Note from the date Agent so notifies Borrower
      until the Maturity Date of this Note (whether by acceleration, declaration,
      extension or otherwise) at a fluctuating rate of interest equal to the prime
      rate announced by Agent from time to time, adjusted each time that such prime
      rate changes.

    

    3.3 Increased
      Cost and Reduced Return.
      If at
      any time after the date hereof, Agent (which shall include, for purposes of
      this
      Section, any corporation controlling Agent) determines that the adoption or
      modification of any applicable law regarding taxation, Agent’s or any Lender’s
      required levels of reserves, deposits, insurance or capital (including any
      allocation of capital requirements or conditions), or similar requirements,
      or
      any interpretation or administration thereof by any state, commonwealth,
      federal, foreign, territorial or other court or governmental department,
      commission, board, bureau, district, authority, agency, central bank, or
      instrumentality, or any arbitration authority, or compliance of Agent or any
      Lender with any of such requirements, has or would have the effect of (a)
      increasing Agent’s or any Lender’s costs relating to the Indebtedness or (b)
      reducing the yield or rate of return of Lenders on the Indebtedness, to a level
      below that which such Lender could have achieved but for the adoption or
      modification of any such requirements, Borrower shall, within fifteen (15)
      days
      of any request by Agent, pay to Agent such additional amounts as (in Agent’s
      sole judgment, after good faith and reasonable computation) will compensate
      such
      Lender for such increase in costs or reduction in yield or rate of return of
      such Lender. No failure by Agent to immediately demand payment of any additional
      amounts payable hereunder shall constitute a waiver of Agent’s right to demand
      payment of such amounts at any subsequent time. Nothing herein contained shall
      be construed or so operate as to require Borrower to pay any interest, fees,
      costs or charges greater than is permitted by applicable Law.

    

    3.4 Default
      Rate.
      Any
      principal of, and to the extent permitted by applicable law, any interest on
      this Note, and any other sum payable hereunder, which is not paid when due
      shall
      bear interest, from the date due and payable until paid, payable on demand,
      at a
      rate per annum (the “Default
      Rate”)
      equal
      to the Applicable Rate plus three percent (3%).

    

    4. Prepayment.
      Borrower may prepay the principal balance of this Note, in full at any time
      or
      in part from time to time, without fee, premium or penalty, provided that:
      (a)
      no prepayment may be made which in Agent’s judgment would contravene or
      prejudice funding under any applicable permanent loan commitment or tri-party
      agreement or the like; (b) Agent shall have actually received from Borrower
      prior written notice by no later than 11:00 a.m. PST on the day of prepayment
      of
      (i) Borrower’s intent to prepay, (ii) the amount of principal which will be
      prepaid (the “Prepaid Principal”), and (iii) the date on which the prepayment
      will be made; and (c) each prepayment shall be in the amount of 100% of the
      Prepaid Principal, plus any other sums which have become due to Lenders under
      the Loan Documents on or before the date of prepayment but have not been paid.
      

     

    
      
        
        

      

      
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    5. Late
      Charges.
      If
      Borrower shall fail to make any payment under the terms of this Note within
      fifteen (15) days after the date such payment is due, Borrower shall pay to
      Agent on demand a late charge equal to five percent (5%) of such payment. Such
      fifteen (15) day period shall not be construed as in any way extending the
      due
      date of any payment. The “late charge” is imposed for the purpose of defraying
      the expenses of Agent incident to handling such delinquent payment, and is
      not a
      penalty. This charge shall be in addition to, and not in lieu of, any other
      remedy Agent may have and is in addition to any fees and charges of any agents
      or attorneys which Agent may employ upon the occurrence of a Default
      (hereinafter defined) hereunder, whether authorized herein or by law.

    

    6. Certain
      Provisions Regarding Payments.
      All
      payments made as scheduled on this Note shall be applied, to the extent thereof,
      to late charges, to accrued but unpaid interest, unpaid principal, and any
      other
      sums due and unpaid to Agent under the Loan Documents, in such manner and order
      as Agent may elect in its sole discretion. All permitted prepayments on this
      Note shall be applied, to the extent thereof, to accrued but unpaid interest
      on
      the amount prepaid, to the remaining principal installments, and any other
      sums
      due and unpaid to Agent under the Loan Documents, in such manner and order
      as
      Agent may elect in its sole discretion, including but not limited to application
      to principal installments in inverse order of maturity. Except to the extent
      that specific provisions are set forth in this Note or another Loan Document
      with respect to application of payments, all payments received by Agent shall
      be
      applied, to the extent thereof, to the Obligations in such manner and order
      as
      Agent may elect in its sole discretion, any instructions from Borrower or anyone
      else to the contrary notwithstanding. Remittances in payment of any part of
      the
      indebtedness other than in the required amount in immediately available U.S.
      funds shall not, regardless of any receipt or credit issued therefor, constitute
      payment until the required amount is actually received by Agent in immediately
      available U.S. funds and shall be made without offset, demand, counterclaim,
      deduction, or recoupment (each of which is hereby waived) and accepted subject
      to the condition that any check or draft may be handled for collection in
      accordance with the practice of the collecting bank or banks. Acceptance by
      the
      holder hereof of any payment in an amount less than the amount then due on
      any
      indebtedness shall be deemed an acceptance on account only, notwithstanding
      any
      notation on or accompanying such partial payment to the contrary, and shall
      not
      in any way excuse the existence of a Default.

    

    7. Defaults.
      

    

    (a) It
      shall
      be a default (“Default”) under this Note and each of the other Loan Documents if
      (i) any principal, interest or other amount of money due under this Note is
      not
      paid in full within five (5) Business Days after it is due, regardless of how
      such amount may have become due; (ii) any covenant, agreement, condition,
      representation or warranty herein is not fully and timely performed, observed
      or
      kept; or (iii) there shall occur any Event of Default under the Loan Agreement.
      Upon the occurrence of a Default beyond any applicable cure period, Agent shall
      have the rights to declare the unpaid principal balance and accrued but unpaid
      interest on this Note, and all other amounts due hereunder and under the other
      Loan Documents, at once due and payable (and upon such declaration, the same
      shall be at once due and payable), to foreclose any liens and security interests
      securing payment hereof and to exercise any of its other rights, powers and
      remedies under this Note, under any other Loan Document, or at law or in
      equity.

    

    
      
        
        

      

      
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    (b) All
      of
      the rights, remedies, powers and privileges (together, “Rights”) of Agent
      provided for in this Note and in any other Loan Document are cumulative of
      each
      other and of any and all other Rights at law or in equity. The resort to any
      Right shall not prevent the concurrent or subsequent employment of any other
      appropriate Right. No single or partial exercise of any Right shall exhaust
      it,
      or preclude any other or further exercise thereof, and every Right may be
      exercised at any time and from time to time. No failure by Agent to exercise,
      nor delay in exercising any Right, including but not limited to the right to
      accelerate the maturity of this Note, shall be construed as a waiver of any
      Default or as a waiver of any Right. Without limiting the generality of the
      foregoing provisions, the acceptance by Agent from time to time of any payment
      under this Note which is past due or which is less than the payment in full
      of
      all amounts due and payable at the time of such payment, shall not (i)
      constitute a waiver of or impair or extinguish the right of Agent to accelerate
      the maturity of this Note or to exercise any other Right at the time or at
      any
      subsequent time, or nullify any prior exercise of any such Right, or (ii)
      constitute a waiver of the requirement of punctual payment and performance
      or a
      novation in any respect.

    

    (c) If
      any
      holder of this Note retains an attorney in connection with any Default or at
      maturity or to collect, enforce or defend this Note or any other Loan Document
      in any lawsuit or in any probate, reorganization, bankruptcy, arbitration or
      other proceeding, or if Borrower sues any holder in connection with this Note
      or
      any other Loan Document and does not prevail, then Borrower agrees to pay to
      each such holder, in addition to principal, interest and any other sums owing
      to
      Agent hereunder and under the other Loan Documents, all costs
      and
      expenses incurred by such holder in trying to collect this Note or in any such
      suit or proceeding, including, without limitation, reasonable attorneys’ fees
      and expenses, investigation costs and all court costs, whether or not suit
      is
      filed hereon, whether before or after the Maturity Date, or whether in
      connection with bankruptcy, insolvency or appeal, or whether collection is
      made
      against Borrower or any guarantor or endorser or any other person primarily
      or
      secondarily liable hereunder.  

    

    8. Commercial
      Purpose.
      Borrower warrants that the Loan is being made solely to acquire or carry on
      a
      business or commercial enterprise, and/or Borrower is a business or commercial
      organization. Borrower further warrants that all of the proceeds of this Note
      shall be used for commercial purposes and stipulates that the Loan shall be
      construed for all purposes as a commercial loan, and is made for other than
      personal, family, household or agricultural purposes.

    

    9. WAIVER
      OF JURY TRIAL.
      BORROWER WAIVES TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO WHICH BORROWER
      AND
      AGENT MAY BE PARTIES, ARISING OUT OF, IN CONNECTION WITH OR IN ANY WAY
      PERTAINING TO, THIS NOTE, THE LOAN AGREEMENT, THE DEED OF TRUST OR ANY OF THE
      OTHER LOAN DOCUMENTS. IT IS AGREED AND UNDERSTOOD THAT THIS WAIVER CONSTITUTES
      A
      WAIVER OF TRIAL BY JURY OF ALL CLAIMS AGAINST ALL PARTIES TO SUCH ACTION OR
      PROCEEDINGS, INCLUDING CLAIMS AGAINST PARTIES WHO ARE NOT PARTIES TO THIS NOTE.
      THIS WAIVER IS KNOWINGLY, WILLINGLY AND VOLUNTARILY MADE BY BORROWER, AND
      BORROWER HEREBY REPRESENTS THAT NO REPRESENTATIONS OF FACT OR OPINION HAVE
      BEEN
      MADE BY ANY INDIVIDUAL TO INDUCE THIS WAIVER OF TRIAL BY JURY OR TO IN ANY
      WAY
      MODIFY OR NULLIFY ITS EFFECT. BORROWER FURTHER REPRESENTS AND WARRANTS THAT
      IT
      HAS BEEN REPRESENTED IN THE SIGNING OF THIS NOTE AND IN THE MAKING OF THIS
      WAIVER BY INDEPENDENT LEGAL COUNSEL, OR HAS HAD THE OPPORTUNITY TO BE
      REPRESENTED BY INDEPENDENT LEGAL COUNSEL SELECTED OF ITS OWN FREE WILL, AND
      THAT
      IT HAS HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL.

     

    
      
        
        

      

      
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    10. Service
      of Process.
      Subject
      to applicable law, Borrower hereby consents to process being served in any
      suit,
      action, or proceeding instituted in connection with this Note by (a) the mailing
      of a copy thereof by certified mail, postage prepaid, return receipt requested,
      to Borrower and (b) serving a copy thereof upon the registered agent or any
      member or manager of Borrower and appointed by Borrower as Borrower’s agent for
      service of process. Subject to applicable law, Borrower irrevocably agrees
      that
      such service shall be deemed to be service of process upon Borrower in any
      such
      suit, action, or proceeding. Nothing in this Note shall affect the right of
      Agent to serve process in any manner otherwise permitted by law and nothing
      in
      this Note will limit the right of Agent otherwise to bring proceedings against
      Borrower in the courts of any jurisdiction or jurisdictions.

    

    11. Heirs,
      Successors and Assigns.
      The
      terms of this Note and of the other Loan Documents shall bind and inure to
      the
      benefit of the heirs, devisees, representatives, successors and assigns of
      the
      parties. The foregoing sentence shall not be construed to permit Borrower to
      assign the Loan except as otherwise permitted under the Loan Documents. As
      further provided in the Loan Agreement, a Lender may, at any time, sell,
      transfer, or assign this Note, the Deed of Trust and the other Loan Documents,
      and any or all servicing rights with respect thereto, or grant participations
      therein or issue mortgage pass-through certificates or other securities
      evidencing a beneficial interest in a rated or unrated public offering or
      private placement.

    

    12. General
      Provisions.
      Time is
      of the essence with respect to Borrower’s obligations under this Note. If more
      than one person or entity executes this Note as Borrower, all of said parties
      shall be jointly and severally liable for payment of the indebtedness evidenced
      hereby. Borrower and all sureties, endorsers, guarantors and any other party
      now
      or hereafter liable for the payment of this Note in whole or in part, hereby
      severally (a) waive demand, presentment for payment, notice of dishonor and
      of
      nonpayment, protest, notice of protest, notice of intent to accelerate, notice
      of acceleration and all other notices (except any notices which are specifically
      required by this Note or any other Loan Document), filing of suit and diligence
      in collecting this Note or enforcing any of the security herefor; (b) agree
      to
      any substitution, subordination, exchange or release of any such security or
      the
      release of any party primarily or secondarily liable hereon; (c) agree that
      Agent shall not be required first to institute suit or exhaust its remedies
      hereon against Borrower or others liable or to become liable hereon or to
      perfect or enforce its rights against them or any security herefor; (d) consent
      to any extensions or postponements of time of payment of this Note for any
      period or periods of time and to any partial payments, before or after maturity,
      and to any other indulgences with respect hereto, without notice thereof to
      any
      of them; and (e) submit (and waive all rights to object) to non-exclusive
      personal jurisdiction of any state or federal court sitting in the State of
      Nevada, and venue in the city or county in which payment is to be made as
      specified in Section 1 of this Note, for the enforcement of any and all
      obligations under this Note and the Loan Documents; (f) waive the benefit of
      all
      homestead and similar exemptions as to this Note; (g) agree that their liability
      under this Note shall not be affected or impaired by any determination that
      any
      security interest or lien taken by Agent to secure this Note is invalid or
      unperfected; and (h) hereby subordinate any and all rights against Borrower
      and
      any of the security for the payment of this Note, whether by subrogation,
      agreement or otherwise, until this Note is paid in full. A determination that
      any provision of this Note is unenforceable or invalid shall not affect the
      enforceability or validity of any other provision and the determination that
      the
      application of any provision of this Note to any person or circumstance is
      illegal or unenforceable shall not affect the enforceability or validity of
      such
      provision as it may apply to other persons or circumstances. This Note may
      not
      be amended except in a writing specifically intended for such purpose and
      executed by the party against whom enforcement of the amendment is sought.
      Subject to Section 8.17 of the Loan Agreement, Agent is hereby authorized to
      disseminate any information it now has or hereafter obtains pertaining to the
      Loan, including, without limitation, any security for this Note and credit
      or
      other information on Borrower, any of its principals and any guarantor of this
      Note, to any actual or prospective assignee or participant with respect to
      the
      Loan, to any of Agent’s affiliates, to any regulatory body having jurisdiction
      over Agent, and to any other parties as necessary or appropriate in Agent’s
      reasonable judgment, as further provided in the Loan Agreement. Captions and
      headings in this Note are for convenience only and shall be disregarded in
      construing it. THIS NOTE, AND ITS VALIDITY, ENFORCEMENT AND INTERPRETATION,
      SHALL BE GOVERNED BY NEVADA LAW (WITHOUT REGARD TO ANY CONFLICT OF LAWS
      PRINCIPLES) AND APPLICABLE UNITED STATES FEDERAL LAW.

     

    
      
        
        

      

      
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    13. Notices;
      Time.
      All
      notices, requests, consents, approvals or demands (collectively, “Notice”)
      required or permitted by this Note to be given by any party to any other party
      hereunder shall be given in accordance with the notice provisions contained
      in
      the Loan Agreement. Whenever a time of day is referred to herein, unless
      otherwise specified such time shall be the local time in the city in which
      this
      Note is payable.

    

    THE
      LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT
      BE
      CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS
      OF THE PARTIES.

    

    THERE
      ARE NO ORAL AGREEMENTS BETWEEN THE PARTIES. 

    

    IN
      WITNESS WHEREOF, Borrower has duly executed this Note as of the date first
      above
      written.

    

    
      	
              BORROWER:

            
	 
	
              GameTech
                International, Inc.

            
	 	 
	
              By:

            	 
	
              Name:  

            	 
	
              Title:

            	
               

            

    

    

    
      
        
        

      

      
        6REVOLVING
      PROMISSORY NOTE

     

    
      	
              $2,000,000

            	
              Reno,
                Nevada

            	
              August
                22, 2008

            

    

    

    FOR
      VALUE
      RECEIVED, GameTech International, Inc., a Delaware corporation (“Borrower,”
whether one or more) hereby promises to pay to the order of U.S. Bank National
      Association (together with any and all of its successors and assigns and/or
      any
      other holder of this Note, “Holder”) as Agent, without offset, in immediately
      available funds in lawful money of the United States of America, at P.O. Box
      790401, St. Louis, MO 63179-0401, the principal sum of TWO MILLION DOLLARS
      ($2,000,000) (or the unpaid balance of all principal advanced or re-advanced
      against this Note, if that amount is less) together with interest on the unpaid
      principal balance of this Note from day to day outstanding as hereinafter
      provided.

    

    1. Payment
      Schedule and Maturity Date.
      Interest is payable beginning September 30, 2008, and on the last day of each
      consecutive month thereafter, plus a final interest payment with the final
      payment of principal. Provided no Event of Default has occurred and remains
      continuing, and until thirty-five (35) days prior to the Maturity Date (as
      hereinafter defined) payments hereunder may be made in connection with Treasury
      Management Services provided by U.S. Bank National Association, in its capacity
      as a Lender.

    

    Principal
      is payable on August 31, 2010 (the “Maturity Date”). All payments hereunder
      shall be applied first to accrued unpaid interest, then to
      principal.

    

    2. Security;
      Loan Documents.
      This
      Note is issued pursuant to the terms of a Line of Credit Commitment (also known
      as the “Revolving Loan) within the Loan Agreement of even date between Borrower,
      U.S. Bank National Association, as Agent, U.S. Bank National Association and
      Bank of the West, as Lenders and the Lenders that become a party thereto in
      the
      future (the “Loan
      Agreement”).
      Capitalized terms used herein and not otherwise defined shall have the meaning
      set forth in the Loan Agreement. The security for this Note includes the Deed
      of
      Trust and the Security
      Agreements.

     

    3. Interest
      Rate.
      Interest on each advance hereunder shall accrue at one of the following per
      annum rates selected by Borrower (i) upon notice to Agent (by no later than
      11:00 a.m. PST), the Base Rate time to time, as and when such rate changes,
      minus .25% (a "Base Rate Loan"); or (ii) upon a minimum of two New York Banking
      Days prior notice to Agent, 2% plus the 1, 2, 3, 6 or 12 month LIBOR rate quoted
      by Bank from Telerate Page 3750 or any successor thereto (which shall be the
      LIBOR rate in effect two New York Banking Days prior to commencement of the
      advance), adjusted for any reserve requirement and any subsequent costs arising
      from a change in government regulation (a "LIBOR Rate Loan"). The term "New
      York
      Banking Day" means any day (other than a Saturday or Sunday) on which commercial
      banks are open for business in New York, New York. The term “New York Banking
      Day” means any date (other than a Saturday or Sunday) on which commercial banks
      are open for business in New York, New York. Agent’s internal records of
      applicable interest rates shall be determinative in the absence of manifest
      error. The term “Base Rate” means the higher of (i) the prime rate announced by
      Agent from time to time and (ii) the Federal Funds Rate plus .50%. “Federal
      Funds Rate” means as of any date of determination, the rate set forth in the
      weekly statistical release designated as H.15(519), or any successor
      publication, published by the Federal Reserve Board (including any such
      successor, "H.15(519)") for such date opposite the caption "Federal Funds
      (Effective)". If for any relevant date such rate is not yet published in
      H.15(519), the rate for such date will be the rate set forth in the daily
      statistical release designated as the Composite 3:30 p.m. Quotations for U.S.
      Government Securities, or any successor publication, published by the Federal
      Reserve Bank of New York (including any such successor, the "Composite 3:30
      p.m.
      Quotation") for such date under the caption "Federal Funds Effective Rate".
      If
      on any relevant date the appropriate rate for such date is not yet published
      in
      either H.15(519) or the Composite 3:30 p.m. Quotation, the rate for such date
      will be the arithmetic mean of the rates for the last transaction in overnight
      Federal funds arranged prior to 9:00 a.m. (New York City time) on that date
      by
      each of three leading brokers of Federal funds transactions in New York City
      selected by Agent. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    The
      aggregate number of LIBOR Rate Loans in effect at any one time may not exceed
      five (5).

     

    In
      the
      event Borrower does not timely select another interest rate option at least
      two
      New York Banking Days before the end of the Loan Period for a LIBOR Rate Loan,
      Bank may at any time after the end of the Loan Period convert the LIBOR Rate
      Loan to a Base Rate Loan, but until such conversion, the funds advanced under
      the LIBOR Rate Loan shall continue to accrue interest at the same rate as the
      interest rate in effect for such LIBOR Rate Loan prior to the end of the Loan
      Period. The term "Loan Period" means the period commencing on the advance date
      of the applicable LIBOR Rate Loan and ending on the numerically corresponding
      day 1, 2, 3, 6 or 12 months thereafter matching the interest rate term selected
      by Borrower; provided, however, (a) if any Loan Period would otherwise end
      on a
      day which is not a New York Banking Day, then the Loan Period shall end on
      the
      next succeeding New York Banking Day unless the next succeeding New York Banking
      Day falls in another calendar month, in which case the Loan Period shall end
      on
      the immediately preceding New York Banking Day; or (b) if any Loan Period begins
      on the last New York Banking Day of a calendar month (or on a day for which
      there is no numerically corresponding day in the calendar month at the end
      of
      the Loan Period), then the Loan Period shall end on the last New York Banking
      Day of the calendar month at the end of such Loan Period.

     

    No
      LIBOR
      Rate Loan may extend beyond the maturity of this Note. In any event, if the
      Loan
      Period for a LIBOR Rate Loan should happen to extend beyond the maturity of
      this
      Note, such loan must be prepaid at the time this Note matures. Bank's internal
      records of applicable interest rates shall be determinative in the absence
      of
      manifest error. Each LIBOR Rate Loan shall be in a minimum principal amount
      of
      $500,000 and $250,000 increments in excess thereof.

    

    If
      a
      LIBOR Rate Loan or Money Market Rate Loan is prepaid prior to the end of the
      Loan Period, as defined above, for such loan, whether voluntarily or because
      prepayment is required due to this Note maturing or due to acceleration of
      this
      Note upon default or otherwise, Borrower agrees to pay all of Bank's costs,
      expenses and Interest Differential (as determined by Bank) incurred as a result
      of such prepayment. The term "Interest Differential" shall mean that sum equal
      to the greater of zero or the financial loss incurred by Bank resulting from
      prepayment, calculated as the difference between the amount of interest Bank
      would have earned (from like investments in the Money Markets as of the first
      day of the LIBOR Rate Loan or Money Market Rate Loan) had prepayment not
      occurred and the interest Bank will actually earn (from like investments in
      the
      Money Markets as of the date of prepayment) as a result of the redeployment
      of
      funds from the prepayment. Because of the short-term nature of this facility,
      Borrower agrees that the Interest Differential shall not be discounted to its
      present value. Any prepayment of a LIBOR Rate Loan or Money Market Rate Loan
      shall be in an amount equal to the remaining entire principal balance of such
      loan.

    

    3.1 Computations
      and Determinations.
      All
      interest shall be computed on the basis of a year of 360 days and paid for
      the
      actual number of days elapsed (including the first day but excluding the last
      day). Agent shall determine each interest rate applicable to any and all of
      the
      indebtedness to Lenders evidenced, governed or secured by or arising under
      this
      Note or any other Loan Document (the “Indebtedness”),
      in
      accordance with this Note and its determination thereof shall be conclusive
      in
      the absence of manifest error. The books and records of Agent shall be
prima facie
      evidence
      of all sums owing to Agent from time to time under this Note, but the failure
      to
      record any such information shall not limit or affect the obligations of
      Borrower under the Loan Documents.

     

    
      
        
        

      

      
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    3.2 Unavailability
      of Rate.
      If
      Agent
      determines that no adequate basis exists for determining the LIBOR Rate or
      that
      the LIBOR Rate will not adequately and fairly reflect the cost to Agent of
      funding the Loan, or that any applicable law or regulation or compliance
      therewith by Agent prohibits or restricts or makes impossible the charging
      of
      interest based on the LIBOR Rate and Agent so notifies Borrower, then until
      Agent notifies Borrower that the circumstances giving rise to such suspension
      no
      longer exist, interest shall accrue and be payable on the unpaid principal
      balance of this Note from the date Agent so notifies Borrower until the Maturity
      Date of this Note (whether by acceleration, declaration, extension or otherwise)
      at a fluctuating rate of interest equal to the Base Rate.

    

    3.3 Increased
      Cost and Reduced Return.
      If at
      any time after the date hereof, Agent (which shall include, for purposes of
      this
      Section, any corporation controlling Agent) determines that the adoption or
      modification of any applicable law regarding taxation, Agent’s or any Lender’s
      required levels of reserves, deposits, insurance or capital (including any
      allocation of capital requirements or conditions), or similar requirements,
      or
      any interpretation or administration thereof by any state, commonwealth,
      federal, foreign, territorial or other court or governmental department,
      commission, board, bureau, district, authority, agency, central bank, or
      instrumentality, or any arbitration authority, or compliance of Agent or any
      Lender with any of such requirements, has or would have the effect of (a)
      increasing Agent’s or any Lender’s costs relating to the Indebtedness or (b)
      reducing the yield or rate of return of Lenders on the Indebtedness, to a level
      below that which such Lender could have achieved but for the adoption or
      modification of any such requirements, Borrower shall, within fifteen (15)
      days
      of any request by Agent, pay to Agent such additional amounts as (in Agent’s
      sole judgment, after good faith and reasonable computation) will compensate
      such
      Lender for such increase in costs or reduction in yield or rate of return of
      such Lender. No failure by Agent to immediately demand payment of any additional
      amounts payable hereunder shall constitute a waiver of Agent’s right to demand
      payment of such amounts at any subsequent time. Nothing herein contained shall
      be construed or so operate as to require Borrower to pay any interest, fees,
      costs or charges greater than is permitted by applicable Law.

    

    3.4 Default
      Rate.
      Any
      principal of, and to the extent permitted by applicable law, any interest on
      this Note, and any other sum payable hereunder, which is not paid when due
      shall
      bear interest, from the date due and payable until paid, payable on demand,
      at a
      rate per annum (the “Default
      Rate”)
      equal
      to the Base Rate plus three percent (3%).

    

    4. Late
      Charges.
      If
      Borrower shall fail to make any payment under the terms of this Note within
      fifteen (15) days after the date such payment is due, Borrower shall pay to
      Agent on demand a late charge equal to five percent (5%) of such payment. Such
      fifteen (15) day period shall not be construed as in any way extending the
      due
      date of any payment. The “late charge” is imposed for the purpose of defraying
      the expenses of Agent incident to handling such delinquent payment, and is
      not a
      penalty. This charge shall be in addition to, and not in lieu of, any other
      remedy Agent may have and is in addition to any fees and charges of any agents
      or attorneys which Agent may employ upon the occurrence of a Default
      (hereinafter defined) hereunder, whether authorized herein or by law.

     

    
      
        
        

      

      
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    6. Certain
      Provisions Regarding Payments.
      All
      payments made as scheduled on this Note shall be applied, to the extent thereof,
      to late charges, to accrued but unpaid interest, unpaid principal, and any
      other
      sums due and unpaid to Agent under the Loan Documents, in such manner and order
      as Agent may elect in its sole discretion. All permitted prepayments on this
      Note shall be applied, to the extent thereof, to accrued but unpaid interest
      on
      the amount prepaid, to the remaining principal installments, and any other
      sums
      due and unpaid to Agent under the Loan Documents, in such manner and order
      as
      Agent may elect in its sole discretion, including but not limited to application
      to principal installments in inverse order of maturity. Except to the extent
      that specific provisions are set forth in this Note or another Loan Document
      with respect to application of payments, all payments received by Agent shall
      be
      applied, to the extent thereof, to the Obligations in such manner and order
      as
      Agent may elect in its sole discretion, any instructions from Borrower or anyone
      else to the contrary notwithstanding. Remittances in payment of any part of
      the
      indebtedness other than in the required amount in immediately available U.S.
      funds shall not, regardless of any receipt or credit issued therefor, constitute
      payment until the required amount is actually received by Agent in immediately
      available U.S. funds and shall be made without offset, demand, counterclaim,
      deduction, or recoupment (each of which is hereby waived) and accepted subject
      to the condition that any check or draft may be handled for collection in
      accordance with the practice of the collecting bank or banks. Acceptance by
      the
      holder hereof of any payment in an amount less than the amount then due on
      any
      indebtedness shall be deemed an acceptance on account only, notwithstanding
      any
      notation on or accompanying such partial payment to the contrary, and shall
      not
      in any way excuse the existence of a Default.

    

    7. Defaults.
      

    

    (a) It
      shall
      be a default (“Default”) under this Note and each of the other Loan Documents if
      (i) any principal, interest or other amount of money due under this Note is
      not
      paid in full within five (5) Business Days after it is due, regardless of how
      such amount may have become due; (ii) any covenant, agreement, condition,
      representation or warranty herein is not fully and timely performed, observed
      or
      kept; or (iii) there shall occur any Event of Default under the Loan Agreement.
      Upon the occurrence of a Default beyond any applicable cure period, Agent shall
      have the rights to declare the unpaid principal balance and accrued but unpaid
      interest on this Note, and all other amounts due hereunder and under the other
      Loan Documents, at once due and payable (and upon such declaration, the same
      shall be at once due and payable), to foreclose any liens and security interests
      securing payment hereof and to exercise any of its other rights, powers and
      remedies under this Note, under any other Loan Document, or at law or in
      equity.

    

    (b) All
      of
      the rights, remedies, powers and privileges (together, “Rights”) of Agent
      provided for in this Note and in any other Loan Document are cumulative of
      each
      other and of any and all other Rights at law or in equity. The resort to any
      Right shall not prevent the concurrent or subsequent employment of any other
      appropriate Right. No single or partial exercise of any Right shall exhaust
      it,
      or preclude any other or further exercise thereof, and every Right may be
      exercised at any time and from time to time. No failure by Agent to exercise,
      nor delay in exercising any Right, including but not limited to the right to
      accelerate the maturity of this Note, shall be construed as a waiver of any
      Default or as a waiver of any Right. Without limiting the generality of the
      foregoing provisions, the acceptance by Agent from time to time of any payment
      under this Note which is past due or which is less than the payment in full
      of
      all amounts due and payable at the time of such payment, shall not (i)
      constitute a waiver of or impair or extinguish the right of Agent to accelerate
      the maturity of this Note or to exercise any other Right at the time or at
      any
      subsequent time, or nullify any prior exercise of any such Right, or (ii)
      constitute a waiver of the requirement of punctual payment and performance
      or a
      novation in any respect.

     

    
      
        
        

      

      
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    (c) If
      any
      holder of this Note retains an attorney in connection with any Default or at
      maturity or to collect, enforce or defend this Note or any other Loan Document
      in any lawsuit or in any probate, reorganization, bankruptcy, arbitration or
      other proceeding, or if Borrower sues any holder in connection with this Note
      or
      any other Loan Document and does not prevail, then Borrower agrees to pay to
      each such holder, in addition to principal, interest and any other sums owing
      to
      Agent hereunder and under the other Loan Documents, all costs
      and
      expenses incurred by such holder in trying to collect this Note or in any such
      suit or proceeding, including, without limitation, reasonable attorneys’ fees
      and expenses, investigation costs and all court costs, whether or not suit
      is
      filed hereon, whether before or after the Maturity Date, or whether in
      connection with bankruptcy, insolvency or appeal, or whether collection is
      made
      against Borrower or any guarantor or endorser or any other person primarily
      or
      secondarily liable hereunder.  

    

    8. Commercial
      Purpose.
      Borrower warrants that the Loan is being made solely to acquire or carry on
      a
      business or commercial enterprise, and/or Borrower is a business or commercial
      organization. Borrower further warrants that all of the proceeds of this Note
      shall be used for commercial purposes and stipulates that the Loan shall be
      construed for all purposes as a commercial loan, and is made for other than
      personal, family, household or agricultural purposes.

    

    9. WAIVER
      OF JURY TRIAL.
      BORROWER WAIVES TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO WHICH BORROWER
      AND
      AGENT MAY BE PARTIES, ARISING OUT OF, IN CONNECTION WITH OR IN ANY WAY
      PERTAINING TO, THIS NOTE, THE LOAN AGREEMENT, THE DEED OF TRUST OR ANY OF THE
      OTHER LOAN DOCUMENTS. IT IS AGREED AND UNDERSTOOD THAT THIS WAIVER CONSTITUTES
      A
      WAIVER OF TRIAL BY JURY OF ALL CLAIMS AGAINST ALL PARTIES TO SUCH ACTION OR
      PROCEEDINGS, INCLUDING CLAIMS AGAINST PARTIES WHO ARE NOT PARTIES TO THIS NOTE.
      THIS WAIVER IS KNOWINGLY, WILLINGLY AND VOLUNTARILY MADE BY BORROWER, AND
      BORROWER HEREBY REPRESENTS THAT NO REPRESENTATIONS OF FACT OR OPINION HAVE
      BEEN
      MADE BY ANY INDIVIDUAL TO INDUCE THIS WAIVER OF TRIAL BY JURY OR TO IN ANY
      WAY
      MODIFY OR NULLIFY ITS EFFECT. BORROWER FURTHER REPRESENTS AND WARRANTS THAT
      IT
      HAS BEEN REPRESENTED IN THE SIGNING OF THIS NOTE AND IN THE MAKING OF THIS
      WAIVER BY INDEPENDENT LEGAL COUNSEL, OR HAS HAD THE OPPORTUNITY TO BE
      REPRESENTED BY INDEPENDENT LEGAL COUNSEL SELECTED OF ITS OWN FREE WILL, AND
      THAT
      IT HAS HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL.

    

    10. Service
      of Process.
      Subject
      to applicable law, Borrower hereby consents to process being served in any
      suit,
      action, or proceeding instituted in connection with this Note by (a) the mailing
      of a copy thereof by certified mail, postage prepaid, return receipt requested,
      to Borrower and (b) serving a copy thereof upon the registered agent or any
      member or manager of Borrower and appointed by Borrower as Borrower’s agent for
      service of process. Subject to applicable law, Borrower irrevocably agrees
      that
      such service shall be deemed to be service of process upon Borrower in any
      such
      suit, action, or proceeding. Nothing in this Note shall affect the right of
      Agent to serve process in any manner otherwise permitted by law and nothing
      in
      this Note will limit the right of Agent otherwise to bring proceedings against
      Borrower in the courts of any jurisdiction or jurisdictions.

    

    11. Heirs,
      Successors and Assigns.
      The
      terms of this Note and of the other Loan Documents shall bind and inure to
      the
      benefit of the heirs, devisees, representatives, successors and assigns of
      the
      parties. The foregoing sentence shall not be construed to permit Borrower to
      assign the Loan except as otherwise permitted under the Loan Documents. As
      further provided in the Loan Agreement, Agent or a Lender may, at any time,
      sell, transfer, or assign this Note, the Deed of Trust and the other Loan
      Documents, and any or all servicing rights with respect thereto, or grant
      participations therein or issue mortgage pass-through certificates or other
      securities evidencing a beneficial interest in a rated or unrated public
      offering or private placement.

     

    
      
        
        

      

      
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    12. General
      Provisions.
      Time is
      of the essence with respect to Borrower’s obligations under this Note. If more
      than one person or entity executes this Note as Borrower, all of said parties
      shall be jointly and severally liable for payment of the indebtedness evidenced
      hereby. Borrower and all sureties, endorsers, guarantors and any other party
      now
      or hereafter liable for the payment of this Note in whole or in part, hereby
      severally (a) waive demand, presentment for payment, notice of dishonor and
      of
      nonpayment, protest, notice of protest, notice of intent to accelerate, notice
      of acceleration and all other notices (except any notices which are specifically
      required by this Note or any other Loan Document), filing of suit and diligence
      in collecting this Note or enforcing any of the security herefor; (b) agree
      to
      any substitution, subordination, exchange or release of any such security or
      the
      release of any party primarily or secondarily liable hereon; (c) agree that
      Agent shall not be required first to institute suit or exhaust its remedies
      hereon against Borrower or others liable or to become liable hereon or to
      perfect or enforce its rights against them or any security herefor; (d) consent
      to any extensions or postponements of time of payment of this Note for any
      period or periods of time and to any partial payments, before or after maturity,
      and to any other indulgences with respect hereto, without notice thereof to
      any
      of them; and (e) submit (and waive all rights to object) to non-exclusive
      personal jurisdiction of any state or federal court sitting in the State of
      Nevada, and venue in the city or county in which payment is to be made as
      specified in Section 1 of this Note, for the enforcement of any and all
      obligations under this Note and the Loan Documents; (f) waive the benefit of
      all
      homestead and similar exemptions as to this Note; (g) agree that their liability
      under this Note shall not be affected or impaired by any determination that
      any
      security interest or lien taken by Agent to secure this Note is invalid or
      unperfected; and (h) hereby subordinate any and all rights against Borrower
      and
      any of the security for the payment of this Note, whether by subrogation,
      agreement or otherwise, until this Note is paid in full. A determination that
      any provision of this Note is unenforceable or invalid shall not affect the
      enforceability or validity of any other provision and the determination that
      the
      application of any provision of this Note to any person or circumstance is
      illegal or unenforceable shall not affect the enforceability or validity of
      such
      provision as it may apply to other persons or circumstances. This Note may
      not
      be amended except in a writing specifically intended for such purpose and
      executed by the party against whom enforcement of the amendment is sought.
      Subject to Section 8.17 of the Loan Agreement, Agent is hereby authorized to
      disseminate any information it now has or hereafter obtains pertaining to the
      Loan, including, without limitation, any security for this Note and credit
      or
      other information on Borrower, any of its principals and any guarantor of this
      Note, to any actual or prospective assignee or participant with respect to
      the
      Loan, to any of Agent’s affiliates, to any regulatory body having jurisdiction
      over Agent, and to any other parties as necessary or appropriate in Agent’s
      reasonable judgment, as further provided in the Loan Agreement. Captions and
      headings in this Note are for convenience only and shall be disregarded in
      construing it. THIS NOTE, AND ITS VALIDITY, ENFORCEMENT AND INTERPRETATION,
      SHALL BE GOVERNED BY NEVADA LAW (WITHOUT REGARD TO ANY CONFLICT OF LAWS
      PRINCIPLES) AND APPLICABLE UNITED STATES FEDERAL LAW.

    

    13. Notices;
      Time.
      All
      notices, requests, consents, approvals or demands (collectively, “Notice”)
      required or permitted by this Note to be given by any party to any other party
      hereunder shall be given in accordance with the notice provisions contained
      in
      the Loan Agreement. Whenever a time of day is referred to herein, unless
      otherwise specified such time shall be the local time in the city in which
      this
      Note is payable.

     

    
      
        
        

      

      
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    THE
      LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT
      BE
      CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS
      OF THE PARTIES.

    

    [Signatures
      appear on next page]

     

    
      
        
        

      

      
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    THERE
      ARE NO ORAL AGREEMENTS BETWEEN THE PARTIES.

    

    IN
      WITNESS WHEREOF, Borrower has duly executed this Note as of the date first
      above
      written.

    

    

    BORROWER:

    

    GameTech
      International, Inc.

    

    By: ________________________

    Name: ________________________

    Title: ________________________

     

    
      
        
        

      

      
        8

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