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FLL > SEC Filings for FLL > Form 8-K on 22-Jul-2014All Recent SEC Filings

Show all filings for FULL HOUSE RESORTS INC

Form 8-K for FULL HOUSE RESORTS INC


22-Jul-2014

Entry into a Material Definitive Agreement, Creation of a Direct Financial


Item 1.01 Entry into a Material Definitive Agreement.

Amendment to First Lien Credit Agreement

As of June 30, 2014, Full House Resorts, Inc. (the "Company") entered into a Second Amendment to First Lien Credit Agreement (the "First Lien Amendment") which amends certain provisions of the First Lien Credit Agreement dated as of June 29, 2012 (the "First Lien Credit Agreement") between the Company, as borrower, the financial institutions from time to time listed therein (the "Lenders") and Capital One, National Association as administrative agent for the Lenders, as L/C Issuer and as Swing Line Lender (each as defined in the First Lien Credit Agreement).

The First Lien Amendment generally provides changes and other modifications to the First Lien Credit Agreement to, among other things, revise certain financial ratio covenants as of June 30, 2014 and going forward through the term of the loan. The amendment also extends the time period for draws against the $10 million term loan associated with the hotel construction at Silver Slipper Casino to March 31, 2015.

A copy of the First Lien Amendment is attached as Exhibit 10.1 to this Form 8-K and incorporated herein by reference.

Amendment to Second Lien Credit Agreement

On July 18, 2014, the Company entered into an Amendment No. 2 to Second Lien Credit Agreement (the "Second Lien Amendment") which amends certain provisions of the Second Lien Credit Agreement dated as of October 1, 2012 (the "Second Lien Credit Agreement") between the Company, as borrower, the financial institutions from time to time listed therein (the "Second Lien Lenders") and ABC Funding, LLC as administrative agent for the Second Lien Lenders.

The Second Lien Amendment generally provides changes and other modifications to the Second Lien Credit Agreement to, among other things, (i) revise certain financial ratio covenants as of June 30, 2014 and going forward through the term of the loan and (ii) to increase the interest rate by 1% to 14.25% for the remainder of the term of the loan.

A copy of the Second Lien Amendment is attached as Exhibit 10.3 to this Form 8-K and incorporated herein by reference.



Item 2.03 Creation of a Direct Financial Obligation or an Obligation under
an Off-Balance Sheet Arrangement of a Registrant.

The information provided in Item 1.01 above is incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.

(d)  Exhibits

     Exhibit 10.1   Second Amendment to First Lien Credit Agreement dated as of June
                    30, 2014 by and among Full House Resorts, Inc., as borrower, the
                    Lenders named therein and Capital One, National Association, as
                    administrative agent for the Lenders, as L/C Issuer and as Swing
                    Line Lender.

     Exhibit 10.2   Acknowledgement of First Lien Guarantors dated as of June 30, 2014
                    made by Full House Subsidiary, Inc., Full House Subsidiary II,
                    Inc., Gaming Entertainment (Indiana) LLC, Gaming Entertainment
                    (Nevada) LLC, Stockman's Casino, Silver Slipper Casino Venture LLC
                    in favor of Capital One, National Association.


     Exhibit 10.3   Amendment No. 2 to Second Lien Credit Agreement dated as of July
                    18, 2014 by and among Full House Resorts, Inc., as borrower, the
                    Lenders named therein and ABC Funding, LLC, as administrative agent
                    for the Lenders

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