{"id":40976,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/credit-agreement-lender-joinder-agreement-boyd-gaming-corp.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"credit-agreement-lender-joinder-agreement-boyd-gaming-corp","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/finance\/credit-agreement-lender-joinder-agreement-boyd-gaming-corp.html","title":{"rendered":"Credit Agreement &#8211; Lender Joinder Agreement &#8211; Boyd Gaming Corp."},"content":{"rendered":"<p align=\"center\">LENDER JOINDER AGREEMENT<\/p>\n<p>November 2, 2011<\/p>\n<\/p>\n<table style=\"width: 100%;\" width=\"100%\" cellpadding=\"0\" class=\" \" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"37\"><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>To:<\/p>\n<\/td>\n<td valign=\"top\">\n<p>Boyd Gaming Corporation<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>3883 Howard Hughes Parkway, 9th Floor<\/p>\n<p>Las Vegas, Nevada 89169<\/p>\n<p>Attention: Josh Hirsberg<\/p>\n<p>Brian A. Larson, Esq.<\/p>\n<\/p>\n<table style=\"width: 100%;\" width=\"100%\" cellpadding=\"0\" class=\" \" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"37\"><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>To:<\/p>\n<\/td>\n<td valign=\"top\">\n<p>Bank of America, N.A.,<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>as the Administrative Agent<\/p>\n<p>Mail Code: TX1-492-14-11<\/p>\n<p>901 Main Street, 14th Floor<\/p>\n<p>Dallas, Texas 75202-3714<\/p>\n<p>Attention: Maurice Washington, Vice President<\/p>\n<\/p>\n<p>Gentlemen and Ladies:<\/p>\n<p>We refer to the Second Amended and Restated Credit Agreement, dated as of<br \/>\nDecember 17, 2010 (together with all amendments and other modifications, if any,<br \/>\nfrom time to time thereafter made thereto, the &#8220;<u>Credit Agreement<\/u>&#8220;), among<br \/>\nBoyd Gaming Corporation, a Nevada corporation (the &#8220;<u>Borrower<\/u>&#8220;), the<br \/>\nvarious financial institutions (the &#8220;<u>Lenders<\/u>&#8220;) as are, or shall from time<br \/>\nto time become, parties thereto, Bank of America, N.A., as administrative agent<br \/>\n(the &#8220;<u>Administrative Agent<\/u>&#8220;) for the Lenders and L\/C Issuer, and Wells<br \/>\nFargo Bank, National Association, as Swing Line Lender. Unless otherwise defined<br \/>\nherein or the context otherwise requires, terms used herein have the meanings<br \/>\nprovided in the Credit Agreement.<\/p>\n<p>1. Pursuant to Section 2.14 of the Credit Agreement, Borrower has requested<br \/>\nterm loans (collectively, the &#8220;<u>Increased Term Loan<\/u>&#8220;) in the aggregate<br \/>\namount of $350,000,000. The Administrative Agent has approved the Borrower&#8217;s<br \/>\nrequest and the Borrower will issue a promissory note in the principal amount of<br \/>\n$350,000,000 in favor of the undersigned (the &#8220;<u>Increasing Lender<\/u>&#8220;) (such<br \/>\npromissory note, the &#8220;<u>Increased Term Note<\/u>&#8220;) in substantially the form of<br \/>\n<u>Exhibit A<\/u> attached hereto. The Increased Term Note will be a Term Note<br \/>\nfor purposes of the Credit Agreement and will be subject to all terms and<br \/>\nconditions of the Credit Agreement.<\/p>\n<p>2. The Increasing Lender hereby agrees, subject to satisfaction of the<br \/>\nconditions precedent set forth in Section 4.02 of the Credit Agreement, to make<br \/>\nthe Increased Term Loan to the Borrower in the amount (the &#8220;<u>Increased Term<br \/>\nCommitment<\/u>&#8220;) set forth opposite the Increasing Lender&#8217;s name on <u>Schedule<br \/>\nI<\/u> attached hereto on November 10, 2011 (the date the Increased Term Loan is<br \/>\nfunded, the &#8220;<u>Increase Effective Date<\/u>&#8220;); <u>provided<\/u>, that the<br \/>\nIncreasing Lender and the Borrower hereby agree that the Increased Term Loan<br \/>\nshall be funded with 2% of original issue discount. The Increasing Lender hereby<br \/>\nacknowledges and confirms that it has received a copy of the Credit Agreement<br \/>\n(including the schedules and exhibits thereto) and each other Loan Document. The<br \/>\nIncreasing Lender acknowledges that it has made its own independent<br \/>\ninvestigation and credit evaluation of the Borrower in connection with entering<br \/>\ninto this Lender Joinder Agreement (this &#8220;<u>Agreement<\/u>&#8220;).<\/p>\n<p>3. Concurrently with the execution and delivery of this Agreement, the<br \/>\nBorrower is delivering to the Administrative Agent:<\/p>\n<\/p>\n<\/p>\n<p align=\"center\">\n<hr>\n<\/p>\n<\/p>\n<p>(i)the Increased Term Note dated as of the Increase Effective Date; and<\/p>\n<\/p>\n<p>(ii)a certificate of a Responsible Officer of the Borrower:<\/p>\n<\/p>\n<p>(A) stating that each Loan Party has received all consents, licenses and<br \/>\napprovals required in connection with the execution, delivery and performance by<br \/>\neach Loan Party and the validity against each Loan Party of the Loan Documents<br \/>\nto which it is a party, that such consents, licenses and approvals are in full<br \/>\nforce and effect, or that no such consents, licenses or approvals are required;\n<\/p>\n<p>(B) certifying and attaching the resolutions adopted by the Borrower<br \/>\napproving or consenting to the execution, delivery and performance by the<br \/>\nBorrower of this Agreement and the Increased Term Note; and<\/p>\n<p>(C) certifying that, before and after giving effect to this Agreement and the<br \/>\ntransactions contemplated hereby, (x) the representations and warranties<br \/>\ncontained in Article V of the Credit Agreement and in the other Loan Documents<br \/>\nare true and correct on and as of the date hereof, except to the extent that<br \/>\nsuch representations and warranties specifically refer to an earlier date, in<br \/>\nwhich case they are true and correct as of such earlier date, and except that<br \/>\nthe representations and warranties contained in subsections (a) and (b) of<br \/>\nSection 5.05 of the Credit Agreement shall be deemed to refer to the most recent<br \/>\nstatements furnished pursuant to subsections (a) and (b), respectively, of<br \/>\nSection 6.01 of the Credit Agreement, and (y) no Default exists.<\/p>\n<p>4. The Borrower hereby agrees to deliver to the Administrative Agent, by not<br \/>\nlater than 11:00 a.m. on November 3, 2011, a notice from the Borrower of the<br \/>\ntermination in full of the Class B Revolving Commitments on the Increase<br \/>\nEffective Date pursuant to Section 2.06 of the Credit Agreement, (the<br \/>\n&#8220;<u>Notice of Termination of Class B Revolving Commitments<\/u>&#8220;) and a notice<br \/>\nfrom the Borrower of the repayment in full on the Increase Effective Date of the<br \/>\nClass B Revolving Loans pursuant to Sections 2.01(c)(ii) and 2.01(c)(iv) of the<br \/>\nCredit Agreement, in each case, subject only to receipt of the Increased Term<br \/>\nLoan.<\/p>\n<p>5. Borrower hereby represents and warrants to the Increasing Lender that<br \/>\nsince December 31, 2009, there has been no event or circumstance, either<br \/>\nindividually or in the aggregate, that has had or could reasonably be expected<br \/>\nto have a Material Adverse Effect.<\/p>\n<p>6. On or before the Increase Effective Date, Borrower shall pay to the<br \/>\nIncreasing Lender any fees and expenses (including, without limitation, any<br \/>\nupfront fees to the Increasing Lender) required to be paid.<\/p>\n<p>7. Subject to the provisions of Section 2.08(b) of the Credit Agreement, (i)<br \/>\nat any time and to the extent that the Increased Term Loan is a Eurodollar Rate<br \/>\nLoan, the Increased Term Loan shall bear interest on the outstanding principal<br \/>\namount thereof for each Interest Period at a rate per annum equal to the<br \/>\nEffective Eurodollar Rate (as defined below) for such Interest Period<br \/>\n<u>plus<\/u> 4.75% and (ii) at any time and to the extent that the Increased Term<br \/>\nLoan is a Base Rate Committed Loan, the Increased Term Loan shall bear interest<br \/>\non the outstanding principal amount thereof at a rate per annum equal to the<br \/>\nBase Rate for such Interest Period <u>plus<\/u> 3.75%; <u>provided<\/u>, that for<br \/>\npurposes of calculating the Base Rate in connection with the Increased Term<br \/>\nLoan, clause (c) of the definition of &#8220;Base Rate&#8221; shall be deemed to refer to<br \/>\nthe Effective Eurodollar Rate. &#8220;<u>Effective Eurodollar Rate<\/u>&#8221; means, for any<br \/>\nInterest Period with respect to the Increased Term Loan, the greater of (x) the<br \/>\nEurodollar Rate in effect for such Interest Period and (y) 1.25%.<\/p>\n<\/p>\n<p>8. The Borrower shall (i) make repayments of the Increased Term Loan on the<br \/>\nlast Business<\/p>\n<\/p>\n<\/p>\n<p align=\"center\">\n<hr>\n<\/p>\n<\/p>\n<p>Day of each fiscal quarter of the Borrower commencing with the fiscal quarter<br \/>\nof the Borrower ending March 31, 2012 in an amount equal to 1.25% of the<br \/>\noriginal principal amount of the Increased Term Loan and (ii) repay the<br \/>\nremaining outstanding principal amount of the Increased Term Loan on the Class A<br \/>\nMaturity Date.<\/p>\n<\/p>\n<p>9. All payments of principal and interest shall be made to the Administrative<br \/>\nAgent for the account of the Increasing Lender in Dollars in immediately<br \/>\navailable funds at the Administrative Agent&#8217;s Office in accordance with the<br \/>\nCredit Agreement; <u>provided<\/u> that, notwithstanding the first sentence of<br \/>\nSection 2.05(a) of the Credit Agreement, in the event of a full or partial<br \/>\nprepayment of the Increased Term Loan during the first year after the Increase<br \/>\nEffective Date through the issuance of any Indebtedness having a lower interest<br \/>\nrate than the interest rate payable under the Increased Term Note, such<br \/>\nprepayment shall include a premium in an amount equal to 1.00% of the principal<br \/>\namount so prepaid.<\/p>\n<\/p>\n<p>10. Pursuant to Section 10.07(b)(iii) of the Credit Agreement, each of the<br \/>\nBorrower and the Administrative Agent hereby consents to the assignment by the<br \/>\nIncreasing Lender of any portion of the Increased Term Loan to the Persons set<br \/>\nforth on <u>Schedule II<\/u> attached hereto or to any Affiliates or Approved<br \/>\nFunds of any such Persons on the Increase Effective Date or within thirty<br \/>\nBusiness Days thereafter. Upon request by an assignee Lender, Borrower shall<br \/>\nexecute and deliver a Note to such assignee Lender (each such Note, an<br \/>\n&#8220;<u>Assignee Lender Note<\/u>&#8220;). Each Assignee Lender Note shall be subject to<br \/>\nthe terms set forth in Sections 6, 7, and 8 of this Agreement.<\/p>\n<\/p>\n<p>11. This Agreement may be executed in one or more counterparts, each of which<br \/>\nshall be deemed an original, but all of which together shall constitute one and<br \/>\nthe same instrument.<\/p>\n<p>12. This Agreement is a Loan Document.<\/p>\n<\/p>\n<p>13. This Agreement, together with the other Loan Documents, comprises the<br \/>\ncomplete and integrated agreement of the parties on the subject matter hereof<br \/>\nand thereof and supersedes all prior agreements, written or oral, on such<br \/>\nsubject matter. This Agreement may be amended or modified only in writing signed<br \/>\nby each party hereto.<\/p>\n<\/p>\n<p>14. This Agreement shall be governed by, and construed in accordance with,<br \/>\nthe laws of the State of Nevada applicable to agreements made and to be<br \/>\nperformed entirely within such State; <u>provided<\/u> that the Administrative<br \/>\nAgent and each Lender shall retain all rights arising under federal law.<\/p>\n<\/p>\n<p><em>IN WITNESS WHEREOF, <\/em>the parties hereto have caused this Agreement to<br \/>\nbe duly executed as of the date first above written.<\/p>\n<\/p>\n<p><strong>BOYD GAMING CORPORATION<\/strong><\/p>\n<p>By: <u>\/s\/ Josh Hirsberg<\/u><\/p>\n<p>Name: Josh Hirsberg<\/p>\n<p>Title: Senior Vice President, Treasurer and Chief Financial Officer<\/p>\n<\/p>\n<p><strong>BANK OF AMERICA, N.A.<\/strong>, as Administrative Agent<\/p>\n<\/p>\n<p>By: <u>\/s\/ Maurice Washington<\/u><\/p>\n<p>Name: Maurice Washington<\/p>\n<p>Title: Vice President<\/p>\n<\/p>\n<p><strong>BANK OF AMERICA, N.A.<\/strong>, as the Increasing Lender<\/p>\n<p>By: <u>\/s\/ Justin Lien<\/u><\/p>\n<p>Name: Justin Lien<\/p>\n<p>Title: Director<\/p>\n<\/p>\n<\/p>\n<\/p>\n<p align=\"center\">\n<hr>\n<\/p>\n<\/p>\n<p align=\"center\"><u>Schedule I<\/u><\/p>\n<\/p>\n<p align=\"center\">\n<table style=\"width: 93.34%; border-collapse: collapse;\" width=\"93%\" cellpadding=\"0\" class=\" \" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td width=\"50%\"><\/td>\n<td width=\"50%\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\"><strong>Increasing Lender<\/strong><\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\"><strong>Increased Term Loan Amount<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Bank of America, N.A.<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">$350,000,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Total:<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">$350,000,000<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"center\">\n<\/p>\n<\/p>\n<p align=\"center\">\n<hr>\n<\/p>\n<\/p>\n<p align=\"center\"><u>Schedule II<\/u><\/p>\n<\/p>\n<p align=\"center\">\n<p align=\"center\"><u>Acceptable Assignees<\/u><\/p>\n<\/p>\n<p align=\"center\">\n<table style=\"width: 73.42%; border-collapse: collapse;\" width=\"73%\" cellpadding=\"0\" class=\" \" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td><\/td>\n<\/tr>\n<tr>\n<td width=\"100%\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">GSO Capital \/ Blackstone Group<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Pacific Investment Management Company<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">CS Alternative Capital (CSAM)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Blackrock Financial Management<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Apollo Management<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Guggenheim Investment Partners<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">ING Investments, LLC<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Invesco Floating Rate Funds, Inc<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Oak Hill Advisors, Inc.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">ONEX Credit Partners<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">ABRY Partners, LLC<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Babson Capital Management<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Carlyle High Yield Partners LP<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Crescent Capital Group LP (fka TCW)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Fraser Sullivan Investment Management LLC<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">H2 Capital Partners<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Mackay Shields<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Octagon Credit Investors<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">SEIX Advisors<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">BlueMountain Capital<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Neuberger Berman<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Oaktree Capital<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Symphony<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Halcyon Asset Management LLC<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Lord Abbett &amp; Co LLC<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Lyon Capital Management LLC (LCM)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Apidos Capital Management<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Deutsche Asset Management (aka DB Advisors)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Guardian Life Insurance Co LLP, The<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Liberty Mutual Insurance Company<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Nomura HY<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">PineBridge Investments (fna. AIG Inc)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Pioneer Investments<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Post Advisory<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Citibank Alternative Investment Strategies<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Franklin Floating Rate Trust<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Golub Capital<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Wells Fargo Principal Investing<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Canyon Capital Advisors LLC<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Loews Corp<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Newfleet (Hartford)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Phoenix\/Goodwin<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">PPM America<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Stone Harbor Investment<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Banc of America Securities LLC<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Aegon USA Investment Management<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n<p align=\"center\">\n<hr>\n<\/p>\n<\/p>\n<table style=\"width: 73.42%; border-collapse: collapse;\" width=\"73%\" cellpadding=\"0\" class=\" \" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td><\/td>\n<\/tr>\n<tr>\n<td width=\"100%\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Aladdin Capital<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Aladdin Credit Partners LLC (Restructuring)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">American Money Management (aka American Financial))<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">GE Capital<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Mackay Shields &#8211; Pareto<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">McDonnell Investment Management, LLC<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Solus Alternative Asset Management<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Stone Point Capital (Sound Point) LLC<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Beach Point Capital<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Black Diamond Capital Management LLC<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">DA Capital<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Hartford Investment Management Company<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Highland Capital Management LP<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">MFS Investment Management<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Peoples Bank (Mississippi)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Saratoga Partners LP<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">West Gate Horizons Advisors<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Whitehorse Capital<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\">Loomis Sayles<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n<p align=\"center\">\n<hr>\n<\/p>\n<\/p>\n<p align=\"center\"><u>Exhibit A<\/u><\/p>\n<\/p>\n<p align=\"center\">\n<p align=\"center\"><u>Form of Increased Term Note<\/u><\/p>\n<\/p>\n<p align=\"center\">\n<\/p>\n<\/p>\n<p align=\"center\"><strong>FORM OF INCREASED TERM NOTE<\/strong><\/p>\n<p align=\"right\">______________, 20__<\/p>\n<p>FOR VALUE RECEIVED, the undersigned (the &#8220;<u>Borrower<\/u>&#8220;) hereby promises<br \/>\nto pay to _____________________ or registered assigns (the &#8220;<u>Lender<\/u>&#8220;), in<br \/>\naccordance with the provisions of the Agreement (as hereinafter defined), the<br \/>\nprincipal amount of $_______________, representing an Increased Term Loan (the<br \/>\n&#8220;<u>Loan<\/u>&#8220;) made by the Lender to the Borrower under that certain Second<br \/>\nAmended and Restated Credit Agreement, dated as of December 17, 2010 (as<br \/>\namended, restated, extended, supplemented or otherwise modified in writing from<br \/>\ntime to time, the &#8220;<u>Agreement<\/u>&#8220;; the terms defined therein being used<br \/>\nherein as therein defined), among the Borrower, the Lenders from time to time<br \/>\nparty thereto, Bank of America, N.A. (&#8220;<u>BOA<\/u>&#8220;), as administrative agent<br \/>\n(the &#8220;<u>Administrative Agent<\/u>&#8220;) for the Lenders and L\/C Issuer, and Wells<br \/>\nFargo Bank, National Association, as Swing Line Lender.<\/p>\n<p>The Borrower promises to pay interest on the unpaid principal amount of the<br \/>\nLoan from the date of the Loan until such principal amount is paid in full at<br \/>\nsuch times as provided in the Agreement. The Loan shall bear interest on the<br \/>\noutstanding principal amount thereof at the rate per annum set forth in that<br \/>\ncertain Lender Joinder Agreement, dated as of November 2, 2011 (as amended,<br \/>\nrestated, supplemented or otherwise modified from time to time, the &#8220;<u>Lender<br \/>\nJoinder Agreement<\/u>&#8220;), by and among the Borrower, the Administrative Agent,<br \/>\nand BOA, as the Increasing Lender.<\/p>\n<p>The Borrower shall repay the Loan on the dates set forth in the Lender<br \/>\nJoinder Agreement.<\/p>\n<p>All payments of principal and interest shall be made to the Administrative<br \/>\nAgent for the account of the Lender in Dollars in immediately available funds at<br \/>\nthe Administrative Agent&#8217;s Office in accordance with the Agreement and the<br \/>\nLender Joinder Agreement. If any amount is not paid in full when due hereunder,<br \/>\nsuch unpaid amount shall bear interest, to be paid upon demand, from the due<br \/>\ndate thereof until the date of actual payment (and before as well as after<br \/>\njudgment) computed at the per annum rate set forth in the Agreement.<\/p>\n<p>This Increased Term Note (this &#8220;<u>Note<\/u>&#8220;) is one of the Term Notes<br \/>\nreferred to in the Agreement, is entitled to the benefits thereof and may be<br \/>\nprepaid in whole or in part subject to the terms and conditions provided<br \/>\ntherein. This Note is also entitled to the benefits of the Guaranty and is<br \/>\nsecured by the Collateral. Upon the occurrence and continuation of one or more<br \/>\nof the Events of Default specified in the Agreement, all amounts then remaining<br \/>\nunpaid on this Note may become, or may be declared to be, immediately due and<br \/>\npayable all as provided in the Agreement. The Loan shall be evidenced by one or<br \/>\nmore loan accounts or records maintained by the Lender in the ordinary course of<br \/>\nbusiness. The Lender may also attach schedules to this Note and endorse thereon<br \/>\nthe date, amount and maturity of the Loan and payments with respect thereto.\n<\/p>\n<p>The Borrower, for itself, its successors and assigns, hereby waives<br \/>\ndiligence, presentment, protest and demand and notice of protest, demand,<br \/>\ndishonor and non-payment of this Note.<\/p>\n<\/p>\n<p align=\"right\">\n<\/p>\n<\/p>\n<\/p>\n<p align=\"center\">\n<hr>\n<\/p>\n<\/p>\n<p>THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF<br \/>\nTHE STATE OF NEVADA.<\/p>\n<p>BOYD GAMING CORPORATION<\/p>\n<\/p>\n<\/p>\n<p>By:<\/p>\n<p>Name:<\/p>\n<p>Title:<\/p>\n<\/p>\n<\/p>\n<p align=\"center\">\n<hr>\n<\/p>\n<\/p>\n<p align=\"center\"><strong>INCREASED TERM LOAN AND PAYMENTS WITH RESPECT<br \/>\nTHERETO<\/strong><\/p>\n<table style=\"width: 93.54%; border-collapse: collapse;\" width=\"93%\" cellpadding=\"0\" class=\" \" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td colspan=\"7\"><\/td>\n<\/tr>\n<tr>\n<td width=\"11%\"><\/td>\n<td width=\"15%\"><\/td>\n<td width=\"15%\"><\/td>\n<td width=\"15%\"><\/td>\n<td width=\"16%\"><\/td>\n<td width=\"15%\"><\/td>\n<td width=\"13%\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p align=\"center\"><strong>Date<\/strong><\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\"><strong>Type of Loan Made<\/strong><\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\"><strong>Amount of Loan Made<\/strong><\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\"><strong>End of Interest Period<\/strong><\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\"><strong>Amount of Principal or Interest Paid This<br \/>\nDate<\/strong><\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\"><strong>Outstanding Principal Balance This Date<\/strong><\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\"><strong>Notation Made By<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\">\n<p>________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">_________<\/p>\n<\/td>\n<td valign=\"bottom\">\n<p align=\"center\">________<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n<p align=\"center\">\n<\/p>\n<\/p>\n<\/p>\n<p 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