SEC Contract Filing

Filing Date: 2024-02-07

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>d739529dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><I>Execution Version</I></B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INCREMENTAL ASSUMPTION AGREEMENT NO.&nbsp;3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">INCREMENTAL ASSUMPTION AGREEMENT NO.&nbsp;3, dated as of February&nbsp;6, 2024 (this &#147;<U>Agreement</U>&#148;), by and among CAESARS
ENTERTAINMENT, INC., a Delaware corporation (f/k/a ELDORADO RESORTS, INC., a Nevada corporation), as borrower (the &#147;<U>Borrower</U>&#148;), the Subsidiary Loan Parties party hereto, the Incremental
<FONT STYLE="white-space:nowrap">Term&nbsp;B-1</FONT> Lender (as defined below) and the Administrative Agent (as defined below), relating to that certain Credit Agreement, dated as of July&nbsp;20, 2020 (as modified by that certain Incremental
Assumption Agreement No.&nbsp;1, dated as of July&nbsp;20, 2020, as amended by that certain First Amendment to Credit Agreement, dated as of November&nbsp;10, 2021, as amended by that certain Second Amendment to Credit Agreement, dated as of
January&nbsp;26, 2022, as amended by that certain Third Amendment to Credit Agreement, dated as of October&nbsp;5, 2022, as modified by that certain Incremental Assumption Agreement No.&nbsp;2, dated as of February&nbsp;6, 2023 and as further
amended, restated, supplemented, waived or otherwise modified from time to time prior to the date hereof, the &#147;<U>Existing Credit Agreement</U>&#148;; and the Existing Credit Agreement as amended and modified by this Agreement, and as it may be
further amended, restated, supplemented, waived or otherwise modified from time to time, the &#147;<U>Credit Agreement</U>&#148;), among the Borrower, the Lenders party thereto from time to time, JPMORGAN CHASE BANK, N.A., as administrative agent
for the Lenders (together with its successors and assigns in such capacity, the &#147;<U>Administrative Agent</U>&#148;), and U.S. BANK NATIONAL ASSOCIATION, as collateral agent for the Secured Parties (together with its successors and assigns in
such capacity, the &#147;<U>Collateral Agent</U>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS: </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrower has requested Incremental Term Loan Commitments in an aggregate principal amount of $2,900.0 million (the
&#147;<U>Incremental <FONT STYLE="white-space:nowrap">Term&nbsp;B-1</FONT> Loan Commitment</U>&#148; and the Incremental Term Loans made thereunder, the &#147;<U>Incremental <FONT STYLE="white-space:nowrap">Term&nbsp;B-1</FONT> Loans</U>&#148;)
pursuant to Section&nbsp;2.21(a) of the Existing Credit Agreement, which Incremental <FONT STYLE="white-space:nowrap">Term&nbsp;B-1</FONT> Loans shall constitute a new tranche of Other Term Loans constituting and having the terms and conditions
applicable to the <FONT STYLE="white-space:nowrap">&#147;Term&nbsp;B-1</FONT> Loans&#148; under the Credit Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, the
Borrower has appointed (a)&nbsp;JPMorgan Chase Bank, N.A., Barclays Bank PLC, BofA Securities, Inc., Citizens Bank, National Association, Deutsche Bank Securities Inc., Truist Securities, Inc., U.S. Bank National Association, Wells Fargo Securities,
LLC, Sumitomo Mitsui Banking Corporation, BNP Paribas Securities Corp., Goldman Sachs Bank USA, Citigroup Global Markets Inc. and Macquarie Capital (USA) Inc., as joint lead arrangers and joint bookrunners (collectively, the &#147;<U>Lead
Arrangers</U>&#148;) and (b)&nbsp;KeyBanc Capital Markets Inc. and Fifth Third Bank, National Association, as co-managers (collectively, the &#147;<U>Co-Managers</U>&#148; and, together with the Lead Arrangers, the &#147;<U>Incremental <FONT
STYLE="white-space:nowrap">Term&nbsp;B-1</FONT> Arrangers</U>&#148;), in each case, for the Incremental <FONT STYLE="white-space:nowrap">Term&nbsp;B-1</FONT> Loan Commitment; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, the institution listed on <U>Schedule&nbsp;I</U> hereto (the &#147;<U>Incremental
<FONT STYLE="white-space:nowrap">Term&nbsp;B-1</FONT> Lender</U>&#148;) has agreed, on the terms and conditions set forth herein and in the Credit Agreement, to provide the Incremental <FONT STYLE="white-space:nowrap">Term&nbsp;B-1</FONT> Loan
Commitment by making Incremental <FONT STYLE="white-space:nowrap">Term&nbsp;B-1</FONT> Loans to the Borrower on the Effective Date (as defined below) in the amount set forth opposite its name under the heading &#147;Incremental <FONT
STYLE="white-space:nowrap">Term&nbsp;B-1</FONT> Loan Commitment&#148; on <U>Schedule&nbsp;I</U> hereto; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrower, the
Subsidiary Loan Parties party hereto, the Incremental <FONT STYLE="white-space:nowrap">Term&nbsp;B-1</FONT> Lender and the Administrative Agent are entering into this Agreement in order to (a)&nbsp;evidence the Incremental <FONT
STYLE="white-space:nowrap">Term&nbsp;B-1</FONT> Loan Commitment, which is made on the Effective Date in accordance with Section&nbsp;2.21(a) of the Existing Credit Agreement and (b)&nbsp;eff