EXHIBIT 10(30)
FIRST AMENDMENT TO OPERATING AGREEMENT
OF
STRATOSPHERE DEVELOPMENT LLC
THIS FIRST AMENDMENT (this "Amendment") TO OPERATING AGREEMENT OF
STRATOSPHERE DEVELOPMENT LLC (the "Operating Agreement") made as of this 4th day
of November, 2002, by and among the undersigned, Stratosphere Corporation, which
constitutes the Stratosphere member ("Stratosphere Member"), Arizona Charlie's,
Inc. which constitutes the Arizona Member ("Arizona Member") and Fresca, LLC,
which constitutes the Fresca, LLC Member ("Fresca Member") of Stratosphere
Development LLC, a Delaware limited-liability company (the "Company"), and the
Company. All capitalized terms used herein and not otherwise defined shall have
the meanings ascribed thereto in the Operating Agreement.
1. Section 5.1 of the Operating Agreement is hereby amended to delete the
phrase "Subject to Section 5.2" in the first line of the paragraph.
2. The first sentence of Section 6.1 of the Operating Agreement is hereby
amended and restated as follows:
In addition to the procedures of Section 4.2 hereof, no Member shall be
individually liable under a judgment, decree or order of a court, or in
any other manner, for a debt, obligation or liability of the Company or of
any Series except as provided by law or in an agreement signed by such
Member.
3. All provisions of the Operating Agreement shall be construed in accordance
with the provisions of this Amendment. All provisions of the Operating Agreement
not affected by this Amendment shall remain in full force and effect as set
forth therein.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed as of the date hereinabove first written.
MEMBER and STRATOSPHERE
DEVELOPMENT LLC, a Delaware
limited-liability company
STRATOSPHERE CORPORATION
By: /s/ Xxxxxx Xxxxxx
-------------------------------
Name: Xxxxxx Xxxxxx
Title: Chief Financial Officer
MEMBER and STRATOSPHERE
DEVELOPMENT LLC, a Delaware
limited-liability company
ARIZONA CHARLIES INC.
By: /s/ Xxxxxx X. Xxxxx
-------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive V.P./G.M.
MEMBER and STRATOSPHERE
DEVELOPMENT LLC, a Delaware
limited-liability company
FRESCA LLC
By: STARFIRE HOLDING CORPORATION
By: /s/ Xxxxxxx X. Xxxxxxx
-------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Authorized Signatory
