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EXHIBIT 4.52
SWINGLINE NOTE
$5,000,000 November 12, 1997
FOR VALUE RECEIVED, the undersigned, HORSESHOE GAMING, L.L.C., a
Delaware limited liability company (the "Borrower"), promises to pay to the
order of CIBC INC.(the "Swingline Lender") on June 15, 2000 the principal sum of
FIVE MILLION DOLLARS ($5,000,000) or, if less, the aggregate unpaid principal
amount of all Swing Loans made by the Swingling Lender pursuant to that certain
Amended and Restated Credit Facility Agreement, dated as of even date herewith
(together with all amendments and other modifications, if any, from time to time
thereafter made thereto, the "Credit Agreement"), among the Borrower, CANADIAN
IMPERIAL BANK OF COMMERCE, as Agent, and the various financial institutions
(including the Swingline Lender) as are, or may from time to time become,
parties thereto.
The Borrower also promises to pay interest on the unpaid principal
amount hereof from time to time outstanding from the date hereof until maturity
(whether by acceleration or otherwise) and, after maturity, until paid, at the
rates per annum and on the dates specified in the Credit Agreement.
Payments of both principal and interest are to be made in lawful money
of the United States of America in same day or immediately available funds to
the account designated by the Agent pursuant to the Credit Agreement.
This Note is the Swingline Note referred to in, and evidences
Indebtedness incurred under, the Credit Agreement, to which reference is made
for a description of the security for this Note and for a statement of the terms
and conditions on which the Borrower is permitted and required to make
prepayments and repayments of principal of the Indebtedness evidenced by this
Note and on which such Indebtedness may be declared to be immediately due and
payable. Unless otherwise defined, terms used herein have the meanings provided
in the Credit Agreement.
All parties hereto, whether as makers, endorsers, or otherwise,
severally waive presentment for payment, demand, protest and notice of dishonor.
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THIS SWINGLINE NOTE HAS BEEN DELIVERED IN __________, __________ AND
SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF
THE STATE OF NEW YORK.
HORSESHOE GAMING, L.L.C.
By Horseshoe Gaming, Inc.,
Its Sole Manager
By:_________________________________
Title:
