HOLLYWOOD PARK, INC. JUNE 30, 1997 FORM 10-Q
Exhibit 10.30
AMENDMENT NO. 2 TO
REDUCING REVOLVING LOAN AGREEMENT
This Amendment No. 2 to Reducing Revolving Loan Agreement (this
"Amendment") is entered into with reference to the Reducing Revolving Loan
Agreement dated as of March 27, 1997 among Hollywood Park, Inc. ("Borrower"),
the Banks party thereto, Bank of Scotland, Bankers Trust Company and Societe
Generale, as Co-Agents, and Bank of America National Trust and Savings
Association, as Managing Agent (as heretofore amended, the "Loan Agreement").
Capitalized terms used but not defined herein are used with the meanings set
forth for those terms in the Loan Agreement.
Borrower and the Managing Agent, acting with the consent of all of the
Banks pursuant to Section 11.2 of the Loan Agreement, agree as follows:
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1. Section 1.1. Section 1.1 of the Loan Agreement is amended by
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inserting the words "and/or of Hollywood Park Operating Company, a Delaware
corporation," immediately following the word "Borrower" in the first line of the
definition of "New Senior Subordinated Debt."
1. Section 2.6. Section 2.6 of the Loan Agreement is amended by deleting
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clause (a) in its entirety from such Section 2.6.
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1. New Senior Subordinated Debt. The Requisite Banks hereby approve,
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pursuant to clauses (c), (d) and (e) of the definition of "New Senior
Subordinated Debt", the subordination provisions, covenants, events of default
and other provisions as are set forth in the July 18, 1997 draft of the Offering
Memorandum for the "___% Senior Subordinated Notes Due 2007", and any immaterial
modifications and/or additions to such provisions.
1. Conditions Precedent. The effectiveness of this Amendment shall be
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conditioned upon:
(a) receipt by the Managing Agent
of the following documents, each properly executed by a Responsible
Official of each party thereto and dated as of the date hereof:
(i) Counterparts of this Amendment
executed by all parties hereto; and
(i) Written consent of all of the
Banks as required under Section 11.2 of the Loan Agreement in the form
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of Exhibit A to this Amendment; and
(a) approval (to the extent
required) of the form of this Amendment by the Louisiana Gaming Control
Board.
1. Confirmation. In all respects, the terms of the Loan Agreement (as amended
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hereby) are hereby confirmed.
IN WITNESS WHEREOF, Borrower and the Managing Agent have executed this
Amendment as of July 30, 1997 by their duly authorized representatives.
HOLLYWOOD PARK, INC.
By: /s/ G. Michael Finnigan
G. Michael Finnigan
Executive Vice President and
Chief Financial Officer
BANK OF AMERICA NATIONAL TRUST AND
SAVINGS ASSOCIATION, as Managing Agent
By: /s/ Janice Hammond
Janice Hammond
Vice President
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Exhibit A to Amendment
CONSENT OF BANK
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Reference is hereby made to that certain Reducing Revolving Loan Agreement
dated as of March 27, 1997 among Hollywood Park, Inc. ("Borrower"), the Banks
party thereto, Bank of Scotland, Bankers Trust Company and Societe Generale, as
Co-Agents, and Bank of America National Trust and Savings Association, as
Managing Agent (as heretofore amended, the "Loan Agreement").
The undersigned Bank hereby consents to the execution and delivery of
Amendment No. 2 to Reducing Revolving Loan Agreement by the Managing Agent on
its behalf, substantially in the form of a draft dated on or about July 18, 1997
presented to the undersigned Bank.
Dated: July 29, 1997
BANK OF AMERICA
[Name of Institution]
By: /s/ Jon Varnell
Jon Varnell, Managing Director
[Printed Name and Title]
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Exhibit A to Amendment
CONSENT OF BANK
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Reference is hereby made to that certain Reducing Revolving Loan Agreement
dated as of March 27, 1997 among Hollywood Park, Inc. ("Borrower"), the Banks
party thereto, Bank of Scotland, Bankers Trust Company and Societe Generale, as
Co-Agents, and Bank of America National Trust and Savings Association, as
Managing Agent (as heretofore amended, the "Loan Agreement").
The undersigned Bank hereby consents to the execution and delivery of
Amendment No. 2 to Reducing Revolving Loan Agreement by the Managing Agent on
its behalf, substantially in the form of a draft dated on or about July 18, 1997
presented to the undersigned Bank.
Dated: July 23, 1997
BANK OF SCOTLAND
[Name of Institution]
By: /s/ Joseph Fratus
Joseph Fratus, Asst. Vice President
[Printed Name and Title]
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Exhibit A to Amendment
CONSENT OF BANK
---------------
Reference is hereby made to that certain Reducing Revolving Loan Agreement
dated as of March 27, 1997 among Hollywood Park, Inc. ("Borrower"), the Banks
party thereto, Bank of Scotland, Bankers Trust Company and Societe Generale, as
Co-Agents, and Bank of America National Trust and Savings Association, as
Managing Agent (as heretofore amended, the "Loan Agreement").
The undersigned Bank hereby consents to the execution and delivery of
Amendment No. 2 to Reducing Revolving Loan Agreement by the Managing Agent on
its behalf, substantially in the form of a draft dated on or about July 18, 1997
presented to the undersigned Bank.
Dated: July 22, 1997
BANKERS TRUST COMPANY
[Name of Institution]
By: /s/ Timothy J. Morris
Timothy J. Morris, Vice President
[Printed Name and Title]
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Exhibit A to Amendment
CONSENT OF BANK
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Reference is hereby made to that certain Reducing Revolving Loan Agreement
dated as of March 27, 1997 among Hollywood Park, Inc. ("Borrower"), the Banks
party thereto, Bank of Scotland, Bankers Trust Company and Societe Generale, as
Co-Agents, and Bank of America National Trust and Savings Association, as
Managing Agent (as heretofore amended, the "Loan Agreement").
The undersigned Bank hereby consents to the execution and delivery of
Amendment No. 2 to Reducing Revolving Loan Agreement by the Managing Agent on
its behalf, substantially in the form of a draft dated on or about July 18, 1997
presented to the undersigned Bank.
Dated: July 30, 1997
SOCIETE GENERALE
[Name of Institution]
By: /s/ Donald L. Schubert
Donald L. Schubert, Vice President
[Printed Name and Title]
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