April 15, 2005Premier Entertainment Biloxi LLC • April 22nd, 2005 • Services-miscellaneous amusement & recreation
ORIX Financial Services, Inc. (“Lender”) presents this commitment letter (“Commitment”) for a Senior Secured Reducing Line of Credit Facility (“Credit Facility”) to Premier Entertainment Biloxi, LLC, d/b/a Hard Rock Hotel & Casino Biloxi, and Premier Finance Biloxi Corp. (each individually referred to herein as a “Borrower” and collectively “Co-Borrowers”) for a loan or loans (collectively referred to herein as the “Loans”) in the aggregate amount up to Ten Million and 00/100 Dollars ($10,000,000.00) (“Loan Amount”) of which ORIX will contribute up to Seven Million Five Hundred Thousand and 00/100 Dollars ($7,500,000.00) and People’s Bank, Biloxi, Mississippi (“Co-Lender Participant”) will contribute up to Two Million Five Hundred Thousand and 00/100 Dollars ($2,500,000.00) pursuant to a commitment letter by and between ORIX and Co-Lender Participant dated as of April 11, 2005. The Credit Facility will be secured by a first and only priority perfected security interest to include, but
