Common use of Minimum EBITDAR Clause in Contracts

Minimum EBITDAR. Borrower and its Subsidiaries on a consolidated basis shall have, at the end of each Fiscal Month set forth below, EBITDAR for the 12-month period then ended (or with respect to each Fiscal Month ended on or prior to October 31, 2005, the period commencing on November 1, 2004 and ending on the last day of such Fiscal Month) of not less than the amount set forth below opposite such Fiscal Month (the "REQUIRED EBITDAR") unless (i) the Excess Aggregate Cash On Hand as of such date is not less than $100,000,000 and (ii) (A) the difference of (x) the Required EBITDAR for such period MINUS (y) the actual EBITDAR for such period does not exceed (B) the lesser of (x) 50% of the Excess Aggregate Cash On Hand and (y) (1) $150,000,000 for the period from the Closing Date to February 28, 2005, (2) $175,000,000 for the period from March 1, 2005 until October 31, 2005, and (3) $150,000,000 thereafter. FISCAL MONTH EBITDAR ------------ ------------ (in millions) November 2004 (98) December 2004 (215) January 2005 (191) February 2005 (130) March 2005 88 April 2005 238 May 2005 378 June 2005 581 July 2005 788 August 2005 986 September 2005 1,060 October 2005 1,210 November 2005 1,401 December 2005 1,590 January 2006 1,697 February 2006 1,804 March 2006 1,924 April 2006 2,062 May 2006 2,172 June 2006 2,300 July 2006 2,386 August 2006 2,464 September 2006 2,540 October 2006 2,608 November 2006 2,686 December 2006 2,763 January 2007 2,807 February 2007 2,850 March 2007 2,889 April 2007 2,926 May 2007 2,961 June 2007 2,988 July 2007 3,016 August 2007 3,048 September 2007 3,072 October 2007 3,105 November 2007 3,136

Minimum EBITDAR. Borrower and its Subsidiaries on a consolidated basis shall have, at the end of each Fiscal Month set forth below, EBITDAR for the 12-month period then ended (or with respect to each Fiscal Month ended on or prior to October 31, 2005, the period commencing on November 1, 2004 and ending on the last day of such Fiscal Month) of not less than the amount set forth below opposite such Fiscal Month (the "REQUIRED Required EBITDAR") unless (i) the Excess Aggregate Cash On Hand as of such date is not less than $100,000,000 and (ii) (A) the difference of (x) the Required EBITDAR for such period MINUS minus (y) the actual EBITDAR for such period does not exceed (B) the lesser of (x) 50% of the Excess Aggregate Cash On Hand and (y) (1) $150,000,000 for the period from the Closing Date to February 28, 2005, (2) $175,000,000 for the period from March 1, 2005 until October 31, 2005, 2005 and (32) $150,000,000 thereafter. FISCAL MONTH Fiscal Month EBITDAR ------------ ------------ (in millions) November 2004 (98) December 2004 (215) January 2005 (191) February 2005 (130) March 2005 88 April 2005 238 ------- May 2005 378 $ 135,000,000 June 2005 581 $ 302,000,000 July 2005 788 $ 498,000,000 August 2005 986 $ 647,000,000 September 2005 1,060 $ 658,000,000 October 2005 1,210 $ 757,000,000 November 2005 1,401 $ 831,000,000 December 2005 1,590 $ 860,000,000 January 2006 1,697 $ 936,000,000 February 2006 1,804 $1,011,000,000 March 2006 1,924 $1,088,000,000 April 2006 2,062 $1,211,000,000 May 2006 2,172 $1,287,000,000 June 2006 2,300 $1,347,000,000 July 2006 2,386 $1,341,000,000 August 2006 2,464 $1,368,000,000 September 2006 2,540 $1,411,000,000 October 2006 2,608 $1,437,000,000 November 2006 2,686 $1,497,000,000 December 2006 2,763 $1,558,000,000 January 2007 2,807 $1,617,000,000 February 2007 2,850 $1,674,000,000 March 2007 2,889 $1,728,000,000 April 2007 2,926 $1,774,000,000 May 2007 2,961 $1,818,000,000 June 2007 2,988 $1,855,000,000 July 2007 3,016 $1,886,000,000 August 2007 3,048 $1,922,000,000 September 2007 3,072 $1,950,000,000 October 2007 3,105 $1,980,000,000 November 2007 3,136$2,008,000,000