OPTION AGREEMENTOption Agreement • April 11th, 2013 • Lakes Entertainment Inc • Services-miscellaneous amusement & recreation • California
This Option Agreement (“Agreement”), effective September 14, 2012 (the “Effective Date”), is entered into by and between Lakes Kean Argovitz Resorts – California, LLC (the “Seller”) and Penn National Gaming Inc., or its assignee or nominee (“Buyer”), with Buyer and Seller being referred to herein as the "Parties," and solely for purposes of the covenants set forth in Section 10(a)(i), (ii), (vi), (viii), and (ix), and Section 13 hereof, the term “Seller” shall include the members, owners, successors, and assigns of Lakes Kean Argovitz Resources – California, LLC, including Lakes Entertainment, Inc.
SUBORDINATION AND INTERCREDITOR AGREEMENTSubordination and Intercreditor Agreement • April 11th, 2013 • Lakes Entertainment Inc • Services-miscellaneous amusement & recreation
This Subordination and Intercreditor Agreement (the “Agreement”) has been entered into this 29th day of August, 2012 (the “Effective Date”), by and among PENN NATIONAL GAMING, INC., a Pennsylvania corporation (“Senior Lender”), LAKES JAMUL DEVELOPMENT, LLC, a Minnesota limited liability company (“Lakes” and together with any Affiliates of Lakes, the “Subordinate Lender”), JAMUL INDIAN VILLAGE, a federally recognized Indian tribe (the “Tribe,” and together with any Affiliates of the Tribe, collectively the “Borrower”).
